# Balance sheet basics

Informational only - not investment advice.

Book: [Reading Financial Data - Step by Step](/guide/)
Chapter: [Reading a company's financials](/guide/company-financials/)
As of: 2025-10-31

A balance sheet shows what a company owns, owes, and what remains for shareholders.

## Concept

The basic relationship is assets minus liabilities equals equity. In real filings, small differences can appear because of rounding, presentation, or non-controlling interests.

## Worked Example: Check Apple's balance sheet relationship

1. Assets are $359.2 billion for fiscal 2025.
2. Liabilities are $285.5 billion.
3. Assets minus liabilities = $359.2 billion - $285.5 billion = $73.7 billion.
4. Reported stockholders' equity is $73.7 billion. It should be close to the same balance-sheet idea, not treated as a hand-entered guess.

## See it live

- [AAPL company page](/company/AAPL/)

## Sources

- [AAPL SEC companyfacts](https://data.sec.gov/api/xbrl/companyfacts/CIK0000320193.json)
- [AAPL latest 10-K source](https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm)