AAPL
Apple Inc.
AAPL offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
NATL
NCR Atleos Corporation
NATL has the edge over AAPL overall, supported by stronger valuation and stronger modeled upside.
AAPL Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
AAPL's revenue, profitability, cash flow and balance sheet are all currently healthy.
NATL Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Stable |
NATL's profitability and cash flow are currently healthy, and its revenue and balance sheet are stable.
AAPL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 26x | $230 | -35% |
| Fair | 31x | $279 | -21% |
| Expensive | 37x | $328 | -7.5% |
| Forward | 38x | $355 | — |
| Current | 40x | $355 | — |
Historical ranges are pointers, not guarantees.
AAPL's PE is in its expensive range at 40x. If earnings grow as analysts expect, today's price would be 38x next year's earnings.
NATL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 9.8x | $48.24 | — |
| Current | 14x | $48.24 | — |
| Cheap | 18x | $62.59 | +30% |
| Fair | 20x | $68.98 | +43% |
| Expensive | 22x | $76.66 | +59% |
Historical ranges are pointers, not guarantees.
NATL has the edge over AAPL in the historical PE scenario, which offers more potential upside but is not a forecast.
AAPL Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Weakening | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for AAPL, but weaker profitability.
NATL Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect NATL's earnings to grow and its profitability to improve, with its revenue holding steady.
AAPL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.28 | +3.3% |
| Q3 2026 | $8.98 | +20% |
| Q2 2026 | $8.71 | +32% |
| Q1 2026 | $8.26 | +29% |
| Q4 2025 | $7.90 | +25% |
| Q3 2025 | $7.46 | +23% |
| Q2 2025 | $6.59 | +0.2% |
| Q1 2025 | $6.42 | -0.3% |
| Q4 2024 | $6.30 | -2% |
AAPL earned $8.98 per share over the past year, up 20% from the year before.
NATL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.91 | +40% |
| Q3 2026 | $3.51 | +104% |
| Q2 2026 | $2.58 | +52% |
| Q1 2026 | $2.32 | +56% |
| Q4 2025 | $2.26 | +97% |
| Q3 2025 | $1.72 | +$3.46 |
| Q2 2025 | $1.70 | +$4.58 |
NATL's earnings per share have climbed steadily: $3.51 over the past year, up 104% from the year before, and higher year over year every quarter since late 2024.
AAPL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $114.5B | +12% |
| Q2 2026 | $109.4B | +16% |
| Q1 2026 | $111.2B | +17% |
| Q4 2025 | $143.8B | +16% |
| Q3 2025 | $102.5B | +7.9% |
| Q2 2025 | $94B | +9.6% |
| Q1 2025 | $95.4B | +5.1% |
| Q4 2024 | $124.3B | +4% |
AAPL has the edge over NATL on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 31% | -0.5 points |
| Q2 2026 | 33% | +2.6 points |
| Q1 2026 | 32% | +1.3 points |
| Q4 2025 | 35% | +0.9 points |
| Q3 2025 | 32% | +0.5 points |
| Q2 2025 | 30% | +0.4 points |
| Q1 2025 | 31% | +0.3 points |
| Q4 2024 | 34% | +0.7 points |
AAPL has the edge over NATL on profitability, with a higher operating margin.
NATL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.1B | -2% |
| Q2 2026 | $1.1B | -0.1% |
| Q1 2026 | $1B | +6.4% |
| Q4 2025 | $1.2B | +4% |
| Q3 2025 | $1.1B | +4% |
| Q2 2025 | $1.1B | +2.1% |
| Q1 2025 | $980M | -6.7% |
| Q4 2024 | $1.1B | +0.9% |
NATL's revenue fell from its 2022 peak and has held roughly level since: $1.1B last quarter, down 2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 17% | +6.8 points |
| Q2 2026 | 14% | +3.3 points |
| Q1 2026 | 8.1% | -1.8 points |
| Q4 2025 | 14% | +0.1 points |
| Q3 2025 | 9.8% | -1.2 points |
| Q2 2025 | 11% | +1 points |
| Q1 2025 | 9.8% | +2.9 points |
| Q4 2024 | 13% | +10 points |
NATL's operating margin was 17% last quarter, up 6.8 points from the same quarter a year ago, near the top of its range since 2022.
AAPL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $25.9B | -2.4% |
| Q2 2026 | $31.9B | +31% |
| Q1 2026 | $26.7B | +28% |
| Q4 2025 | $51.6B | +91% |
| Q3 2025 | $26.5B | +11% |
| Q2 2025 | $24.4B | -8.6% |
| Q1 2025 | $20.9B | +0.9% |
| Q4 2024 | $27B | -28% |
AAPL has the edge over NATL on cash flow, with more consistent year-over-year improvement.
NATL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $147M | +$152M |
| Q2 2026 | $4M | +$48M |
| Q1 2026 | -$36M | -138% |
| Q4 2025 | $194M | +213% |
| Q3 2025 | -$5M | -106% |
| Q2 2025 | -$44M | -$30M |
| Q1 2025 | $94M | -24% |
| Q4 2024 | $62M | +$92M |
NATL generated $309M in free cash flow over the past year, up 189% from the year before.
AAPL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +5.6M shares |
| 1 year | -1.9% | -284M shares |
| 3 years | -6.9% | -1.1B shares |
| 5 years | -13% | -2.1B shares |
| Available history | -17% | -3.1B shares |
AAPL has the edge over NATL on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $24.3B |
| Q2 2026 | $25.1B |
| Q1 2026 | $12.3B |
| Q4 2025 | $24.7B |
| Q3 2025 | $20.1B |
| Q2 2025 | $21.1B |
| Q1 2025 | $25.9B |
| Q4 2024 | $23.6B |
AAPL spent $86.4B buying back its own shares over the past year, down 4.8% from the year before.
NATL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +300K shares |
| 1 year | +0.1% | +100K shares |
| 3 years | +7.8% | +5.5M shares |
NATL has 76M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $16M |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
AAPL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 0.2x | Very low |
| Q4 2025 | 0.3x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.5x | Very low |
AAPL has the edge over NATL on leverage, with a lower net debt burden relative to earnings.
NATL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.6x | Moderate |
| Q2 2026 | 3.0x | Elevated |
| Q1 2026 | 3.1x | Elevated |
| Q4 2025 | 3.0x | Elevated |
| Q3 2025 | 3.3x | Elevated |
| Q2 2025 | 3.4x | Elevated |
| Q1 2025 | 3.6x | Elevated |
| Q4 2024 | 3.7x | Elevated |
NATL's net debt is about 2.6 years of its operating earnings (EBITDA), down from 3.3 years a year ago.
AAPL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.1 | Neutral |
| Stochastic | 85.0 | Overbought |
AAPL's weekly RSI is 68 (neutral) and its Stochastic is 85 (overbought).
NATL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 63.3 | Neutral |
| Stochastic | 62.7 | Neutral |
NATL's weekly RSI is 63 (neutral) and its Stochastic is 63 (neutral).
AAPL PE vs Technology Sector
| Metric | AAPL | Sector median | Relative |
|---|---|---|---|
| PE | 40x | 28x | 42% above |
| PE % | 96 | 35 | 61 pts above |
AAPL is trading at 40x earnings, a 42% premium to the Technology sector's median of 28x.
NATL PE vs Technology Sector
| Metric | NATL | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 28x | 51% below |
| PE % | 1 | 18 | 17 pts below |
NATL has the edge over AAPL on valuation relative to its sector.
AAPL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $343.1 | 3.4% above |
| 20 week MA | $329.0 | 7.9% above |
| 50 week MA | $295.6 | 20% above |
| 100 week MA | $262.4 | 35% above |
| 200 week MA | $226.3 | 57% above |
NATL has stronger trend alignment. AAPL is above 5 of 5 weekly averages versus NATL above 4 of 4.
NATL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $46.5 | 3.9% above |
| 20 week MA | $46.4 | 4% above |
| 50 week MA | $43.9 | 9.9% above |
| 100 week MA | $37.9 | 27% above |
NATL is in an uptrend: it's above all four of its weekly moving averages, and 27% above its 100-week average.
AAPL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $72.5 | $132.0 | +82% |
| 2021 | $132.0 | $176.3 | +34% |
| 2022 | $176.3 | $131.9 | -25% |
| 2023 | $131.9 | $192.5 | +46% |
| 2024 | $192.5 | $255.6 | +33% |
| 2025 | $255.6 | $273.4 | +7% |
| 2026 YTD | $273.4 | $354.9 | +30% |
AAPL has the edge over NATL on returns for 2026, with the stronger performance.
NATL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2023 | $22.4 | $24.3 | +8.5% |
| 2024 | $24.3 | $34.3 | +41% |
| 2025 | $34.3 | $39.0 | +14% |
| 2026 YTD | $39.0 | $48.2 | +24% |
NATL has finished every year since 2023 higher, and it's up 24% so far in 2026.