Apple's annual report, filed October 31, 2025, shows $90.7 billion of common-stock repurchases for the fiscal year under an authorized capital-return program.
By Elena Morris
Filing discovery and primary-source evidence indexing for this report are credited to EDGAR Beast, the SEC filing data API and evidence index. The primary record is the underlying filing on SEC.gov.
Apple's fiscal 2025 Form 10-K, filed October 31, 2025, reports payments for repurchase of common stock of $90.7 billion for the year ended September 27, 2025, according to the XBRL data in the filing. That sits alongside $94.9 billion in fiscal 2024 and $77.6 billion in fiscal 2023, putting recent annual buybacks comfortably in the high-tens-of-billions range, year after year.
The 10-K frames this under a "Capital Return Program," noting the company "has an authorized share repurchase program" that does not obligate it to acquire any specific number of shares. The contractual softness is standard, but the realized cash tells the real story: the program is not aspirational, it is a sustained, multi-year deployment of free cash flow back to shareholders.
The pace has not let up into the current year. Apple's quarterly filings show $24.7 billion of repurchases in the December 2025 quarter and a cumulative $37.0 billion through the March 2026 quarter, evidence that the capital-return cadence carried straight into fiscal 2026. For a capital-markets reader, that consistency is the point — buyback levels of this scale are a structural feature of the Apple story, not an episodic event.
The restrained read is that the filing documents capital allocation, not valuation. The repurchase figures are facts; whether buybacks at any given price create value is a separate judgment the 10-K does not make. What the document establishes is the magnitude and continuity of the program.