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Sankey diagram of Apple Inc.. A complete text table follows the diagram.
The iPhone remained the revenue anchor, but Services carried nearly twice the product gross margin
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Labels and narrative are editorial; all displayed flow values are reported by Apple or exact subtotals of reported values.
Labels and narrative explain the filing. A category marked “arithmetic bridge” or “residual” is calculated from reported totals, rather than a separately reported line.
| Category | Stage | Value | Notes |
|---|---|---|---|
| iPhone | 1 | $57.0B | 51% of net sales; up 22% |
| Services | 1 | $31.0B | App Store, advertising and cloud services |
| Mac | 1 | $8.4B | Up 6% year over year |
| Wearables, Home & Accessories | 1 | $7.9B | AirPods, Watch, home and accessories |
| iPad | 1 | $6.9B | Up 8% year over year |
| Net sales | 2 | $111.2B | Up 17% year over year |
| Products gross profit | 3 | $31.0B | 38.7% product gross margin |
| Services gross profit | 3 | $23.8B | 76.7% Services gross margin |
| Products cost of sales | 3 | $49.2B | Components, assembly and logistics |
| Services cost of sales | 3 | $7.2B | Content, infrastructure and partner costs |
| Total gross profit | 4 | $54.8B | 49.3% total gross margin |
| Operating income | 5 | $35.9B | 32.3% operating margin |
| Research & development | 5 | $11.4B | Up 34% year over year |
| Selling, general & administrative | 5 | $7.5B | 7% of net sales |
| Income before tax | 6 | $35.8B | After $52M other expense |
| Other expense, net | 6 | $52M | Below operating income |
| Net income | 7 | $29.6B | 26.6% net margin |
| Income tax | 7 | $6.3B | 17.5% effective rate |
| From | To | Value |
|---|---|---|
| iPhone | Net sales | $57.0B |
| Services | Net sales | $31.0B |
| Mac | Net sales | $8.4B |
| Wearables, Home & Accessories | Net sales | $7.9B |
| iPad | Net sales | $6.9B |
| Net sales | Products gross profit | $31.0B |
| Net sales | Services gross profit | $23.8B |
| Net sales | Products cost of sales | $49.2B |
| Net sales | Services cost of sales | $7.2B |
| Products gross profit | Total gross profit | $31.0B |
| Services gross profit | Total gross profit | $23.8B |
| Total gross profit | Operating income | $35.9B |
| Total gross profit | Research & development | $11.4B |
| Total gross profit | Selling, general & administrative | $7.5B |
| Operating income | Income before tax | $35.8B |
| Operating income | Other expense, net | $52M |
| Income before tax | Net income | $29.6B |
| Income before tax | Income tax | $6.3B |