Apple's revenue growth — one filing, both years

mentor: Growth compares two periods, and that carries a trap. A company restates prior-year figures in each new annual reportDefinitionForm 10-KThe audited annual report a US public company files with the SEC — the most complete single document about a business: audited financial statements, management's discussion, risk factors, and the auditor's own opinion. It is the primary source nearly every figure on Echelon grounds to.One 10-K = audited statements + MD&A + risk factors + auditor's reportDrivers: Assurance · Cadence · Restated comparativesFull definition →, so stitching numbers from different filings can compare mismatched bases.

The honest method uses a single filing: the latest annual reportDefinitionForm 10-KThe audited annual report a US public company files with the SEC — the most complete single document about a business: audited financial statements, management's discussion, risk factors, and the auditor's own opinion. It is the primary source nearly every figure on Echelon grounds to.One 10-K = audited statements + MD&A + risk factors + auditor's reportDrivers: Assurance · Cadence · Restated comparativesFull definition → restates the prior year beside the current one. Below are both years of Apple's revenue from one Form 10-K, via SEC EDGAR.

Revenue growthDefinitionRevenue growthThe change in revenue versus the prior period, as a share of the prior period. It is the first number an analyst reads — and only honest when both years come from the same filing, because each new annual report restates the prior year on the current accounting basis. Stitching figures across different reports compares mismatched bases.Revenue growth = (Revenue − Prior-year revenue) ÷ Prior-year revenueDrivers: Volume · Price · Mix · Acquisitions & currencyFull definition → = (revenue − prior-year revenue) ÷ prior-year revenue.