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Apple vs Alphabet: revenue, profit, margins and growth compared

Apple brought in $416.2B of revenue in fiscal 2025, Alphabet $402.8B in fiscal 2025. Revenue changed by +6.4% at Apple and +15.1% at Alphabet on the year before, so Alphabet grew faster. Apple kept 26.9% of its revenue as net profit, Alphabet 32.8%. Free cash flow was $98.8B at Apple and $73.3B at Alphabet.

Side by side, latest fiscal year

AAPLGOOGL
Fiscal year endedFY2025 (September 27, 2025)FY2025 (December 31, 2025)
Revenue$416.2B$402.8B
Revenue growth+6.4%+15.1%
Net income$112B$132.2B
Net margin26.9%32.8%
Free cash flow$98.8B$73.3B
Free cash flow margin23.7%18.2%
Earnings per share (diluted)$7.46$10.81
Cash$35.9B$30.7B
Debt$90.7B$49.1B
Price to earnings45.731.8
Market value$4.98T$4.21T
Dividend yield0.30%0.24%
Rank by revenue in sector#1 of 530 · Technology#2 of 530 · Technology

Over the years

Revenue
AAPL FY2018: $265.6BAAPL FY2019: $260.2BAAPL FY2020: $274.5BAAPL FY2021: $365.8BAAPL FY2022: $394.3BAAPL FY2023: $383.3BAAPL FY2024: $391BAAPL FY2025: $416.2BGOOGL FY2018: $136.8BGOOGL FY2019: $161.9BGOOGL FY2020: $182.5BGOOGL FY2021: $257.6BGOOGL FY2022: $282.8BGOOGL FY2023: $307.4BGOOGL FY2024: $350BGOOGL FY2025: $402.8BFY18FY19FY20FY21FY22FY23FY24FY25
AAPL $416.2BGOOGL $402.8B
Net income
AAPL FY2018: $59.5BAAPL FY2019: $55.3BAAPL FY2020: $57.4BAAPL FY2021: $94.7BAAPL FY2022: $99.8BAAPL FY2023: $97BAAPL FY2024: $93.7BAAPL FY2025: $112BGOOGL FY2018: $30.7BGOOGL FY2019: $34.3BGOOGL FY2020: $40.3BGOOGL FY2021: $76BGOOGL FY2022: $60BGOOGL FY2023: $73.8BGOOGL FY2024: $100.1BGOOGL FY2025: $132.2BFY18FY19FY20FY21FY22FY23FY24FY25
AAPL $112BGOOGL $132.2B
Net margin
AAPL FY2018: 22.4%AAPL FY2019: 21.2%AAPL FY2020: 20.9%AAPL FY2021: 25.9%AAPL FY2022: 25.3%AAPL FY2023: 25.3%AAPL FY2024: 24.0%AAPL FY2025: 26.9%GOOGL FY2018: 22.5%GOOGL FY2019: 21.2%GOOGL FY2020: 22.1%GOOGL FY2021: 29.5%GOOGL FY2022: 21.2%GOOGL FY2023: 24.0%GOOGL FY2024: 28.6%GOOGL FY2025: 32.8%FY18FY19FY20FY21FY22FY23FY24FY25
AAPL 26.9%GOOGL 32.8%
Revenue growth
AAPL FY2019: -2.0%AAPL FY2020: +5.5%AAPL FY2021: +33.3%AAPL FY2022: +7.8%AAPL FY2023: -2.8%AAPL FY2024: +2.0%AAPL FY2025: +6.4%GOOGL FY2019: +18.3%GOOGL FY2020: +12.8%GOOGL FY2021: +41.2%GOOGL FY2022: +9.8%GOOGL FY2023: +8.7%GOOGL FY2024: +13.9%GOOGL FY2025: +15.1%FY19FY20FY21FY22FY23FY24FY25
AAPL +6.4%GOOGL +15.1%
Free cash flow
AAPL FY2018: $64.1BAAPL FY2019: $58.9BAAPL FY2020: $73.4BAAPL FY2021: $93BAAPL FY2022: $111.4BAAPL FY2023: $99.6BAAPL FY2024: $108.8BAAPL FY2025: $98.8BGOOGL FY2018: $22.8BGOOGL FY2019: $31BGOOGL FY2020: $42.8BGOOGL FY2021: $67BGOOGL FY2022: $60BGOOGL FY2023: $69.5BGOOGL FY2024: $72.8BGOOGL FY2025: $73.3BFY18FY19FY20FY21FY22FY23FY24FY25
AAPL $98.8BGOOGL $73.3B

Fiscal years as each company reports them; the two may end in different months.

Questions about Apple and Alphabet

Which is bigger by revenue, Apple or Alphabet?

Apple is bigger by revenue: $416.2B in fiscal 2025, against $402.8B for Alphabet in fiscal 2025.

Which keeps more of its revenue as profit, Apple or Alphabet?

Apple had a net margin of 26.9% in fiscal 2025; Alphabet had 32.8% in fiscal 2025.

Which grew revenue faster, Apple or Alphabet?

In their latest fiscal years revenue changed by +6.4% at Apple and +15.1% at Alphabet.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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