Apple Inc. (AAPL) P/E Ratio History
Historical price-to-earnings valuation from 1990 to 2026
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Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of February 28, 2026, Apple Inc. (AAPL) trades at a price-to-earnings ratio of 35.4x, with a stock price of $264.18 and trailing twelve-month earnings per share of $7.95.
The current P/E is 19% above its 5-year average of 29.8x. Over the past five years, AAPL's P/E has ranged from a low of 22.1x to a high of 40.6x, placing the current valuation at the 90th percentile of its historical range.
Compared to the Technology sector median P/E of 25.2x, AAPL trades at a 40% premium to its sector peers. The sector includes 345 companies with P/E ratios ranging from 0.0x to 199.1x.
The PEG ratio of 1.98 (P/E divided by 23% EPS growth) suggests a fair valuation relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, AAPL commands a significant premium over the S&P 500 median P/E of 26.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our AAPL DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
Peer Comparison
P/E metrics vs. Smartphones, tablets, and ecosystems peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
AAPLApple Inc. | $3.9T | 35.4Lowest | 1.98Best | +23%Best |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
Historical P/E Data
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | Sat Dec 27 2025 00:00:00 GM | $273.40 | $7.91 | 34.6x | +12% |
| FY2025 Q4 | Sat Sep 27 2025 00:00:00 GM | $255.46 | $7.47 | 34.2x | +11% |
| FY2025 Q3 | Sat Jun 28 2025 00:00:00 GM | $201.08 | $6.59 | 30.5x | -1% |
| FY2025 Q2 | Sat Mar 29 2025 00:00:00 GM | $217.90 | $6.42 | 33.9x | +10% |
| FY2025 Q1 | Sat Dec 28 2024 00:00:00 GM | $255.59 | $6.30 | 40.6x | +31% |
| FY2024 Q4 | Sat Sep 28 2024 00:00:00 GM | $227.79 | $6.08 | 37.5x | +21% |
| FY2024 Q3 | Sat Jun 29 2024 00:00:00 GM | $210.62 | $6.57 | 32.1x | +4% |
| FY2024 Q2 | Sat Mar 30 2024 00:00:00 GM | $171.48 | $6.43 | 26.7x | -14% |
| FY2024 Q1 | Sat Dec 30 2023 00:00:00 GM | $192.53 | $6.42 | 30.0x | -3% |
| FY2023 Q4 | Sat Sep 30 2023 00:00:00 GM | $171.21 | $6.12 | 28.0x | -9% |
| FY2023 Q3 | Sat Jul 01 2023 00:00:00 GM | $193.97 | $5.95 | 32.6x | +6% |
| FY2023 Q2 | Sat Apr 01 2023 00:00:00 GM | $164.90 | $5.89 | 28.0x | -9% |
Average P/E for displayed period: 30.9x
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Start ComparisonFrequently Asked Questions
Is AAPL stock overvalued or undervalued?
AAPL trades at 35.4x P/E, near its 5-year average of 29.8x. The 90th percentile ranking places valuation within normal historical bounds.
How does AAPL's valuation compare to peers?
Apple Inc. P/E of 35.4x compares to sector median of 25.2x. The premium reflects expected growth above peers.
What is AAPL's PEG ratio?
AAPL PEG ratio is 1.98. Between 1-2 suggests valuation aligns with growth. Historical P/E data spans 1990-2026.