AAPL EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
AAPL's ev/ebitda is higher than 95% of the last 10 years.
EV/EBITDA History
AAPL EV/EBITDA by year
Yearly range of AAPL’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 8.2 to 30.3, averaging 19.4.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 23.0 | 26.6 | 30.0 | 27.9 |
| 2025 | 19.2 | 25.3 | 30.3 | 26.6 |
| 2024 | 20.0 | 24.5 | 29.9 | 28.1 |
| 2023 | 16.3 | 22.0 | 25.1 | 24.1 |
| 2022 | 16.1 | 19.8 | 23.6 | 16.5 |
| 2021 | 19.6 | 22.9 | 28.6 | 23.1 |
| 2020 | 12.9 | 21.2 | 29.3 | 26.6 |
| 2019 | 8.8 | 12.6 | 17.2 | 16.6 |
| 2018 | 9.2 | 12.4 | 14.4 | 9.7 |
| 2017 | 9.4 | 11.7 | 13.2 | 12.7 |
| 2016 | 8.2 | 9.2 | 9.6 | 9.4 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is AAPL EV/EBITDA High or Low Right Now?
Apple Inc.'s EV/EBITDA is currently 27.9, which is near historic high relative to its 10-year historical range. The 10-year median EV/EBITDA for AAPL is approximately 20.8. See all AAPL valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.