The revenue of Apple Inc. (AAPL) has grown nearly 60 percent in the last four years, from over $229 billion in 2017 to nearly $366 billion in 2021.
Doubling of Net Income in 5 Years
Of course, profits matter more than sales, as every business person and investor knows. So, more impressive than Apple’s annual growth of sales is its profit growth. On that score, Apple’s net income has nearly doubled, from $48 billion for the year 2017 to over $94 billion in 2021.
Of course, profit margins also matter a lot these days, when costs keep rising due to inflation. As most investors are aware, United States’ inflation reached a record 7.5 percent, the highest in some 40 years. In 2017, Apple’s $48,351 million in profit on sales of $229,234 million amounted to a net margin of 21 percent.
Outperformance in 2021
Apple far out-performed in 2021 on its net margin – an impressive 26 percent, compared to 21 percent in 2017. On sales of $366 billion last year, it netted $94,680 million, amounting to nearly 26 percent.
Product Innovation
Like many successful companies, product innovation is key to growth. Apple’s iPhone has many new features that set it apart from competitors. Look below how the iPhone has evolved since 2007. (Image credit: Photo-lint.com):
