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Applied Materials (AMAT) Financials

Applied Materials logo
$183.15 +5.01 (+2.81%)
Closing price 08/7/2025 04:00 PM Eastern
Extended Trading
$184.30 +1.15 (+0.63%)
As of 07:03 AM Eastern
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Annual Income Statements for Applied Materials

Annual Income Statements for Applied Materials

This table shows Applied Materials' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/26/2014 10/25/2015 10/30/2016 10/29/2017 10/28/2018 10/27/2019 10/25/2020 10/31/2021 10/30/2022 10/29/2023 10/27/2024
Net Income / (Loss) Attributable to Common Shareholders		 1,072 1,377 1,721 3,519 3,038 2,706 3,619 5,888 6,525 6,856 7,177
Consolidated Net Income / (Loss)		 1,072 1,377 1,721 3,519 3,038 2,706 3,619 5,888 6,525 6,856 7,177
Net Income / (Loss) Continuing Operations		 1,072 1,377 1,721 3,519 3,038 2,706 3,619 5,888 6,525 6,856 7,177
Total Pre-Tax Income 		1,448 1,598 2,013 3,816 4,396 3,269 4,166 6,771 7,599 7,716 8,152
Total Operating Income		 1,520 1,693 2,152 3,936 4,491 3,350 4,365 6,889 7,788 7,654 7,867
Total Gross Profit		 3,843 3,952 4,511 6,612 7,517 6,386 7,692 10,914 11,993 12,384 12,897
Total Revenue		 9,072 9,659 10,825 14,698 16,705 14,608 17,202 23,063 25,785 26,517 27,176
Operating Revenue		 9,072 9,659 10,825 14,698 16,705 14,608 17,202 23,063 25,785 26,517 27,176
Total Cost of Revenue		 5,229 5,707 6,314 8,086 9,188 8,222 9,510 12,149 13,792 14,133 14,279
Operating Cost of Revenue		 5,229 5,707 6,314 8,086 9,188 8,222 9,510 12,149 13,792 14,133 14,279
Total Operating Expenses		 2,323 2,259 2,359 2,676 3,026 3,036 3,327 4,025 4,205 4,730 5,030
Selling, General & Admin Expense		 502 469 390 438 483 461 567 620 735 852 961
Marketing Expense		 423 428 429 457 521 521 526 609 703 776 836
Research & Development Expense		 1,428 1,451 1,540 1,781 2,022 2,054 2,234 2,485 2,771 3,102 3,233
Restructuring Charge		 - - - - - 0.00 0.00 157 -4.00 0.00 0.00
Total Other Income / (Expense), net		 -72 -95 -139 -120 -95 -81 -199 -118 -189 62 285
Interest Expense		 95 103 155 198 234 237 240 236 228 238 247
Other Income / (Expense), net		 23 8.00 16 78 139 156 41 118 39 300 532
Income Tax Expense		 376 221 292 297 1,358 563 547 883 1,074 860 975
Basic Earnings per Share		 $0.88 $1.13 $1.56 $3.28 $3.00 $2.89 $3.95 $6.47 $7.49 $8.16 $8.68
Weighted Average Basic Shares Outstanding		 1.22B 1.21B 1.11B 1.07B 1.01B 937M 916M 910M 871M 840M 827M
Diluted Earnings per Share		 $0.87 $1.12 $1.54 $3.25 $2.96 $2.86 $3.92 $6.40 $7.44 $8.11 $8.61
Weighted Average Diluted Shares Outstanding		 1.23B 1.23B 1.12B 1.08B 1.03B 945M 923M 919M 877M 845M 834M
Weighted Average Basic & Diluted Shares Outstanding		 1.22B 1.22B 1.10B 1.07B 1.01B 915.30M 914.34M 888.51M 844.14M 831.07M 813.68M
Cash Dividends to Common per Share		 $0.10 $0.10 $0.40 $0.40 $0.70 $0.83 $0.87 $0.94 $1.02 $1.22 $1.52

Quarterly Income Statements for Applied Materials

This table shows Applied Materials' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 10/30/2022 1/29/2023 4/30/2023 7/30/2023 10/29/2023 1/28/2024 4/28/2024 7/28/2024 10/27/2024 1/26/2025 4/27/2025
Net Income / (Loss) Attributable to Common Shareholders		 1,591 1,717 1,575 1,560 2,004 2,019 1,722 1,705 1,731 1,185 2,137
Consolidated Net Income / (Loss)		 1,591 1,717 1,575 1,560 2,004 2,019 1,722 1,705 1,731 1,185 2,137
Net Income / (Loss) Continuing Operations		 1,591 1,717 1,575 1,560 2,004 2,019 1,722 1,705 1,731 1,185 2,137
Total Pre-Tax Income 		1,949 1,961 1,777 1,806 2,172 2,303 1,994 1,960 1,895 2,119 2,322
Total Operating Income		 1,994 1,970 1,911 1,802 1,971 1,967 1,912 1,942 2,046 2,175 2,169
Total Gross Profit		 3,101 3,145 3,094 2,976 3,169 3,204 3,153 3,205 3,335 3,496 3,485
Total Revenue		 6,749 6,739 6,630 6,425 6,723 6,707 6,646 6,778 7,045 7,166 7,100
Operating Revenue		 6,749 6,739 6,630 6,425 6,723 6,707 6,646 6,778 7,045 7,166 7,100
Total Cost of Revenue		 3,648 3,594 3,536 3,449 3,554 3,503 3,493 3,573 3,710 3,670 3,615
Operating Cost of Revenue		 3,648 3,594 3,536 3,449 3,554 3,503 3,493 3,573 3,710 3,670 3,615
Total Operating Expenses		 1,107 1,175 1,183 1,174 1,198 1,237 1,241 1,263 1,289 1,321 1,316
Selling, General & Admin Expense		 198 207 214 214 217 276 247 222 216 256 207
Marketing Expense		 183 197 194 193 192 207 209 205 215 206 216
Research & Development Expense		 726 771 775 767 789 754 785 836 858 859 893
Total Other Income / (Expense), net		 -45 -9.00 -134 4.00 201 336 82 18 -151 -56 153
Interest Expense		 57 59 61 60 58 59 59 63 66 64 68
Other Income / (Expense), net		 12 50 -73 64 259 395 141 81 -85 8.00 221
Income Tax Expense		 358 244 202 246 168 284 272 255 164 934 185
Basic Earnings per Share		 $1.86 $2.03 $1.87 $1.86 $2.40 $2.43 $2.08 $2.06 $2.11 $1.46 $2.64
Weighted Average Basic Shares Outstanding		 871M 845M 843M 838M 840M 831M 830M 826M 827M 814M 809M
Diluted Earnings per Share		 $1.85 $2.02 $1.86 $1.85 $2.38 $2.41 $2.06 $2.05 $2.09 $1.45 $2.63
Weighted Average Diluted Shares Outstanding		 877M 849M 847M 843M 845M 837M 836M 833M 834M 819M 812M
Weighted Average Basic & Diluted Shares Outstanding		 844.14M 845.12M 839.75M 836.53M 831.07M 830.90M 827.97M 824.40M 813.68M 812.44M 802.50M
Cash Dividends to Common per Share		 - $0.26 $0.32 $0.32 - $0.32 $0.40 $0.40 - $0.40 $0.46

Annual Cash Flow Statements for Applied Materials

This table details how cash moves in and out of Applied Materials' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/26/2014 10/25/2015 10/30/2016 10/29/2017 10/28/2018 10/27/2019 10/25/2020 10/31/2021 10/30/2022 10/29/2023 10/27/2024
Net Change in Cash & Equivalents		 1,291 1,795 -1,391 1,604 -1,570 -311 2,337 -365 -3,001 4,133 1,880
Net Cash From Operating Activities		 1,800 1,163 2,566 3,789 3,787 3,247 3,804 5,442 5,399 8,700 8,677
Net Cash From Continuing Operating Activities		 1,800 1,163 2,566 3,789 3,787 3,247 3,804 5,442 5,399 8,700 8,677
Net Income / (Loss) Continuing Operations		 1,072 1,377 1,721 3,519 3,038 2,706 3,619 5,888 6,525 6,856 7,177
Consolidated Net Income / (Loss)		 1,072 1,377 1,721 3,519 3,038 2,706 3,619 5,888 6,525 6,856 7,177
Depreciation Expense		 375 371 389 407 457 363 376 394 444 515 392
Non-Cash Adjustments To Reconcile Net Income		 147 131 201 353 258 263 291 494 409 323 451
Changes in Operating Assets and Liabilities, net		 206 -716 255 -490 34 -93 -482 -1,334 -1,979 1,006 657
Net Cash From Investing Activities		 -161 -281 -425 -2,526 571 -443 -130 -1,216 -1,357 -1,535 -2,327
Net Cash From Continuing Investing Activities		 -161 -281 -425 -2,526 571 -443 -130 -1,216 -1,357 -1,535 -2,327
Purchase of Property, Plant & Equipment		 -241 -215 -253 -345 -622 -441 -422 -668 -787 -1,106 -1,190
Acquisitions		 -12 -4.00 -16 -68 -6.00 -28 -107 -12 -441 -25 0.00
Purchase of Investments		 -811 -1,162 -1,390 -4,856 -2,077 -1,914 -1,355 -2,007 -1,492 -1,672 -3,588
Sale and/or Maturity of Investments		 878 1,100 1,234 2,743 3,276 1,940 1,754 1,471 1,363 1,268 2,451
Net Cash From Financing Activities		 -348 913 -3,532 341 -5,928 -3,115 -1,337 -4,591 -7,043 -3,032 -4,470
Net Cash From Continuing Financing Activities		 -348 913 -3,532 341 -5,928 -3,115 -1,337 -4,591 -7,043 -3,032 -4,470
Repayment of Debt		 0.00 0.00 -1,207 -205 0.00 0.00 -2,882 0.00 0.00 -907 -502
Repurchase of Common Equity		 0.00 -1,325 -1,892 -1,172 -5,283 -2,403 -649 -3,750 -6,103 -2,189 -3,823
Payment of Dividends		 -485 -487 -444 -430 -605 -771 -787 -838 -873 -975 -1,192
Issuance of Debt		 - 2,581 0.00 2,176 0.00 0.00 2,979 0.00 0.00 991 1,095
Issuance of Common Equity		 107 88 88 97 124 145 174 175 199 227 243
Other Financing Activities, net		 30 56 -77 -125 -164 -86 -172 -178 -266 -179 -291
Cash Interest Paid		 92 92 151 186 219 219 219 205 205 205 205
Cash Income Taxes Paid		 195 407 157 194 300 522 542 851 1,869 1,006 957

Quarterly Cash Flow Statements for Applied Materials

This table details how cash moves in and out of Applied Materials' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 10/30/2022 1/29/2023 4/30/2023 7/30/2023 10/29/2023 1/28/2024 4/28/2024 7/28/2024 10/27/2024 1/26/2025 4/27/2025
Net Change in Cash & Equivalents		 -960 1,553 1,042 1,438 100 721 221 1,203 -265 -1,758 -111
Net Cash From Operating Activities		 857 2,270 2,292 2,583 1,555 2,325 1,392 2,385 2,575 925 1,571
Net Cash From Continuing Operating Activities		 857 2,270 2,292 2,583 1,555 2,325 1,392 2,385 2,575 925 1,571
Net Income / (Loss) Continuing Operations		 1,591 1,717 1,575 1,560 2,004 2,019 1,722 1,705 1,731 1,185 2,137
Consolidated Net Income / (Loss)		 1,591 1,717 1,575 1,560 2,004 2,019 1,722 1,705 1,731 1,185 2,137
Depreciation Expense		 123 120 129 136 130 91 96 95 110 105 103
Non-Cash Adjustments To Reconcile Net Income		 99 148 113 114 -52 170 134 132 15 195 159
Changes in Operating Assets and Liabilities, net		 -956 285 475 773 -527 45 -560 453 719 -560 -828
Net Cash From Investing Activities		 -190 -299 -322 -425 -489 -447 -149 -660 -1,071 -897 221
Net Cash From Continuing Investing Activities		 -190 -299 -322 -425 -489 -447 -149 -660 -1,071 -897 221
Purchase of Property, Plant & Equipment		 -223 -287 -255 -255 -309 -229 -257 -297 -407 -381 -510
Acquisitions		 - -20 2.00 -7.00 - 0.00 - - - -28 -1.00
Purchase of Investments		 -317 -406 -324 -465 -477 -749 -474 -745 -1,620 -1,711 -1,222
Sale and/or Maturity of Investments		 350 414 255 302 297 531 582 382 956 1,223 1,921
Net Cash From Financing Activities		 -1,627 -418 -928 -720 -966 -1,157 -1,022 -522 -1,769 -1,786 -1,903
Net Cash From Continuing Financing Activities		 -1,627 -418 -928 -720 -966 -1,157 -1,022 -522 -1,769 -1,786 -1,903
Repayment of Debt		 - -110 -299 -299 -199 -99 -114 -99 -190 -200 -102
Repurchase of Common Equity		 -1,500 -250 -800 -439 -700 -700 -820 -861 -1,442 -1,318 -1,670
Payment of Dividends		 -223 -220 -219 -268 -268 -266 -266 -331 -329 -326 -325
Issuance of Debt		 - 298 297 297 99 100 100 794 101 200 100
Other Financing Activities, net		 -7.00 -136 -18 -11 -14 -192 -41 -25 -33 -142 -35
Cash Interest Paid		 68 34 68 35 68 34 68 35 68 52 68
Cash Income Taxes Paid		 246 69 152 197 588 139 467 213 138 70 763

Annual Balance Sheets for Applied Materials

This table presents Applied Materials' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/26/2014 10/25/2015 10/30/2016 10/29/2017 10/28/2018 10/27/2019 10/25/2020 10/31/2021 10/30/2022 10/29/2023 10/27/2024
Total Assets		 13,174 15,308 14,570 19,419 17,633 19,024 22,353 25,825 26,726 30,729 34,409
Total Current Assets		 6,967 9,261 8,353 12,918 10,604 10,206 13,369 16,107 15,925 19,147 21,220
Cash & Equivalents		 3,002 4,797 3,406 5,010 3,440 3,129 5,351 4,995 1,995 6,132 8,022
Short-Term Investments		 160 168 343 2,266 590 489 387 464 586 737 1,449
Accounts Receivable		 1,670 1,739 2,279 2,338 2,323 2,533 2,963 4,953 6,068 5,165 5,234
Inventories, net		 1,567 1,833 2,050 2,930 3,721 3,474 3,904 4,309 5,932 5,725 5,421
Other Current Assets		 568 - 275 374 530 581 764 1,386 1,344 1,388 1,094
Plant, Property, & Equipment, net		 861 892 937 1,066 1,407 1,529 1,604 1,934 2,307 2,723 3,339
Total Noncurrent Assets		 5,346 5,155 5,280 5,435 5,622 7,289 7,380 7,784 8,494 8,859 9,850
Long-Term Investments		 935 946 929 1,143 1,568 1,703 1,538 2,055 1,980 2,281 2,787
Goodwill		 3,304 3,302 3,316 3,368 3,368 3,399 3,466 3,479 3,700 3,732 3,732
Intangible Assets		 951 762 575 412 213 156 153 104 339 294 249
Noncurrent Deferred & Refundable Income Taxes		 156 145 460 512 473 2,031 2,223 2,146 2,475 2,552 3,082
Total Liabilities & Shareholders' Equity		 13,174 15,308 14,570 19,419 17,633 19,024 22,353 25,825 26,726 30,729 34,409
Total Liabilities		 5,306 7,695 7,353 10,070 10,788 10,810 11,775 13,578 14,532 14,380 15,408
Total Current Liabilities		 2,823 3,798 3,632 4,115 3,922 4,447 4,459 6,344 7,379 7,372 8,468
Short-Term Debt		 0.00 1,200 - - 0.00 600 - - 0.00 100 799
Accounts Payable		 1,883 1,833 2,256 2,450 2,721 2,511 3,138 4,268 4,237 4,297 4,820
Other Current Liabilities		 - - - - 1,201 1,336 1,321 2,076 3,142 2,975 2,849
Total Noncurrent Liabilities		 2,483 3,897 3,721 5,955 6,866 6,363 7,316 7,234 7,153 7,008 6,940
Long-Term Debt		 2,483 3,897 3,721 5,563 5,612 4,713 5,448 5,452 5,457 5,461 5,460
Noncurrent Deferred Revenue		 - - - - 1,254 1,275 1,206 1,090 964 833 670
Other Noncurrent Operating Liabilities		 - - - 392 - 375 662 692 732 714 810
Total Equity & Noncontrolling Interests		 7,868 7,613 7,217 9,349 6,845 8,214 10,578 12,247 12,194 16,349 19,001
Total Preferred & Common Equity		 7,868 7,613 7,217 9,349 6,845 8,214 10,578 12,247 12,194 16,349 19,001
Total Common Equity		 7,868 7,613 7,217 9,349 6,845 8,214 10,578 12,247 12,194 16,349 19,001
Common Stock		 6,396 6,586 6,820 7,067 7,284 7,604 7,913 8,256 8,601 9,139 9,668
Retained Earnings		 13,072 13,967 15,252 18,258 20,880 24,386 27,209 32,246 37,892 43,726 49,651
Accumulated Other Comprehensive Income / (Loss)		 -76 -92 -115 -64 -125 -180 -299 -260 -202 -217 -168
Other Equity Adjustments		 - - - - - - - - -34,097 - -40,150

Quarterly Balance Sheets for Applied Materials

This table presents Applied Materials' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 10/30/2022 1/29/2023 4/30/2023 7/30/2023 10/29/2023 1/28/2024 4/28/2024 7/28/2024 10/27/2024 1/26/2025 4/27/2025
Total Assets		 26,726 27,959 29,092 30,410 30,729 31,540 31,949 33,647 34,409 33,338 33,632
Total Current Assets		 15,925 16,715 17,773 18,879 19,147 19,182 19,265 20,671 21,220 20,694 19,708
Cash & Equivalents		 1,995 3,547 4,588 6,025 6,132 6,854 7,085 8,288 8,022 6,264 6,169
Short-Term Investments		 586 500 510 510 737 638 472 815 1,449 1,949 578
Accounts Receivable		 6,068 5,385 5,516 5,230 5,165 4,700 4,778 4,970 5,234 5,998 6,187
Inventories, net		 5,932 6,054 5,940 5,809 5,725 5,646 5,691 5,568 5,421 5,501 5,656
Other Current Assets		 1,344 1,229 1,219 1,305 1,388 1,344 1,239 1,030 1,094 982 1,118
Plant, Property, & Equipment, net		 2,307 2,494 2,559 2,604 2,723 2,826 2,958 3,100 3,339 3,563 3,832
Total Noncurrent Assets		 8,494 8,750 8,760 8,927 8,859 9,532 9,726 9,876 9,850 9,081 10,092
Long-Term Investments		 1,980 2,088 2,024 2,177 2,281 2,910 2,983 2,981 2,787 2,686 3,638
Goodwill		 3,700 3,718 3,711 3,732 3,732 3,732 3,732 3,732 3,732 3,768 3,748
Intangible Assets		 339 332 328 305 294 283 273 262 249 237 249
Noncurrent Deferred & Refundable Income Taxes		 2,475 2,612 2,697 2,713 2,552 2,607 2,738 2,901 3,082 2,390 2,457
Total Liabilities & Shareholders' Equity		 26,726 27,959 29,092 30,410 30,729 31,540 31,949 33,647 34,409 33,338 33,632
Total Liabilities		 14,532 14,539 14,963 15,317 14,380 14,111 13,750 14,807 15,408 14,713 14,671
Total Current Liabilities		 7,379 7,250 7,871 8,224 7,372 7,076 6,884 7,228 8,468 7,736 7,996
Short-Term Debt		 0.00 199 199 199 100 100 99 99 799 799 799
Accounts Payable		 4,237 3,969 4,299 4,528 4,297 3,829 4,174 4,387 4,820 4,485 4,706
Other Current Liabilities		 3,142 3,082 3,373 3,497 2,975 3,147 2,611 2,742 2,849 - 2,491
Total Noncurrent Liabilities		 7,153 7,289 7,092 7,093 7,008 7,035 6,866 7,579 6,940 6,977 6,675
Long-Term Debt		 5,457 5,458 5,459 5,460 5,461 5,462 5,463 6,158 5,460 5,461 5,462
Noncurrent Deferred Revenue		 964 975 822 818 833 850 656 671 670 684 321
Other Noncurrent Operating Liabilities		 732 856 811 815 714 723 747 750 810 832 892
Total Equity & Noncontrolling Interests		 12,194 13,420 14,129 15,093 16,349 17,429 18,199 18,840 19,001 18,625 18,961
Total Preferred & Common Equity		 12,194 13,420 14,129 15,093 16,349 17,429 18,199 18,840 19,001 18,625 18,961
Total Common Equity		 12,194 13,420 14,129 15,093 16,349 17,429 18,199 18,840 19,001 18,625 18,961
Common Stock		 8,601 8,613 8,819 8,922 9,139 9,117 9,329 9,436 9,668 9,721 9,974
Retained Earnings		 37,892 39,389 40,696 41,988 43,726 45,480 46,871 48,247 49,651 50,511 52,280
Accumulated Other Comprehensive Income / (Loss)		 -202 -235 -235 -223 -217 -166 -172 -146 -168 -143 -144
Other Equity Adjustments		 -34,097 - - - - -37,002 -37,829 -38,697 -40,150 - -43,149

Annual Metrics And Ratios for Applied Materials

This table displays calculated financial ratios and metrics derived from Applied Materials' official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/26/2014 10/25/2015 10/30/2016 10/29/2017 10/28/2018 10/27/2019 10/25/2020 10/31/2021 10/30/2022 10/29/2023 10/27/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 20.82% 6.47% 12.07% 35.78% 13.65% -12.55% 17.76% 34.07% 11.80% 2.84% 2.49%
EBITDA Growth		 124.33% 8.03% 23.41% 72.90% 15.06% -23.94% 23.60% 54.77% 11.76% 2.39% 3.80%
EBIT Growth		 246.74% 10.24% 27.45% 85.15% 15.35% -24.28% 25.67% 59.03% 11.70% 1.62% 5.59%
NOPAT Growth		 256.13% 29.64% 26.11% 97.28% -14.49% -10.65% 36.74% 57.99% 11.63% 1.70% 1.84%
Net Income Growth		 318.75% 28.45% 24.98% 104.47% -13.67% -10.93% 33.74% 62.70% 10.82% 5.07% 4.68%
EPS Growth		 314.29% 28.74% 37.50% 111.04% -8.92% -3.38% 37.06% 63.27% 16.25% 9.01% 6.17%
Operating Cash Flow Growth		 188.92% -35.39% 120.64% 47.66% -0.05% -14.26% 17.15% 43.06% -0.79% 61.14% -0.26%
Free Cash Flow Firm Growth		 244.72% -41.99% 160.31% 42.79% -19.40% -47.91% 127.75% 40.26% -16.98% 88.53% -6.27%
Invested Capital Growth		 -6.71% 8.71% -7.93% 3.72% 5.64% 19.64% 6.63% 16.40% 28.52% -2.52% 1.90%
Revenue Q/Q Growth		 3.14% 1.09% 9.39% 6.01% -2.17% -0.03% 5.74% 6.63% 2.49% -0.10% 1.20%
EBITDA Q/Q Growth		 11.58% 0.49% 16.02% 11.14% -4.97% -1.63% 9.33% 11.60% -0.47% 2.80% -3.18%
EBIT Q/Q Growth		 15.15% 0.47% 19.19% 12.25% -5.72% -1.02% 10.07% 12.18% -0.72% 2.90% -3.10%
NOPAT Q/Q Growth		 6.24% 6.93% 18.10% 13.53% -8.97% -1.88% 13.50% 10.13% -1.34% 3.03% 0.57%
Net Income Q/Q Growth		 7.31% 6.17% 18.94% 14.92% -9.26% -2.13% 13.59% 10.95% -1.82% 6.41% -3.66%
EPS Q/Q Growth		 7.41% 6.67% 20.31% 16.07% -7.79% 0.35% 13.95% 11.30% -0.40% 6.99% -3.26%
Operating Cash Flow Q/Q Growth		 27.48% 5.82% 19.91% -4.73% 10.76% -7.18% 14.75% -2.98% -5.11% 8.72% 13.32%
Free Cash Flow Firm Q/Q Growth		 20.23% -23.87% 60.63% 3.27% -9.06% 31.30% 2.30% -5.46% -9.73% 9.84% 13.02%
Invested Capital Q/Q Growth		 -0.22% 5.71% -3.83% 1.18% 0.63% -4.09% 0.32% 9.01% 9.71% 5.98% -0.08%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 42.36% 40.92% 41.67% 44.99% 45.00% 43.72% 44.72% 47.32% 46.51% 46.70% 47.46%
EBITDA Margin		 21.14% 21.45% 23.62% 30.08% 30.45% 26.49% 27.80% 32.09% 32.08% 31.94% 32.35%
Operating Margin		 16.75% 17.53% 19.88% 26.78% 26.88% 22.93% 25.38% 29.87% 30.20% 28.86% 28.95%
EBIT Margin		 17.01% 17.61% 20.03% 27.31% 27.72% 24.00% 25.61% 30.38% 30.35% 30.00% 30.91%
Profit (Net Income) Margin		 11.82% 14.26% 15.90% 23.94% 18.19% 18.52% 21.04% 25.53% 25.31% 25.86% 26.41%
Tax Burden Percent		 74.03% 86.17% 85.49% 92.22% 69.11% 82.78% 86.87% 86.96% 85.87% 88.85% 88.04%
Interest Burden Percent		 93.84% 93.94% 92.85% 95.07% 94.95% 93.24% 94.55% 96.63% 97.09% 97.01% 97.06%
Effective Tax Rate		 25.97% 13.83% 14.51% 7.78% 30.89% 17.22% 13.13% 13.04% 14.13% 11.15% 11.96%
Return on Invested Capital (ROIC)		 17.37% 22.35% 28.18% 56.92% 46.49% 36.81% 44.73% 63.28% 57.46% 52.62% 53.77%
ROIC Less NNEP Spread (ROIC-NNEP)		 22.70% 29.10% 41.60% 62.73% 51.11% -2,198.18% 63.56% 68.55% 85.30% 48.53% 48.54%
Return on Net Nonoperating Assets (RNNOA)		 -3.03% -4.56% -4.97% -14.44% -8.97% -0.88% -6.21% -11.68% -4.07% -4.58% -13.16%
Return on Equity (ROE)		 14.34% 17.79% 23.21% 42.48% 37.52% 35.94% 38.52% 51.59% 53.39% 48.04% 40.61%
Cash Return on Invested Capital (CROIC)		 24.31% 14.00% 36.43% 53.27% 41.01% 18.93% 38.31% 48.12% 32.50% 55.17% 51.89%
Operating Return on Assets (OROA)		 12.24% 11.94% 14.51% 23.62% 24.99% 19.13% 21.30% 29.09% 29.79% 27.69% 25.79%
Return on Assets (ROA)		 8.50% 9.67% 11.52% 20.71% 16.40% 14.76% 17.49% 24.44% 24.83% 23.87% 22.04%
Return on Common Equity (ROCE)		 14.34% 17.79% 23.21% 42.48% 37.52% 35.94% 38.52% 51.59% 53.39% 48.04% 40.61%
Return on Equity Simple (ROE_SIMPLE)		 13.62% 18.09% 23.85% 37.64% 44.38% 32.94% 34.21% 48.08% 53.51% 41.94% 37.77%
Net Operating Profit after Tax (NOPAT)		 1,125 1,459 1,840 3,630 3,104 2,773 3,792 5,991 6,687 6,801 6,926
NOPAT Margin		 12.40% 15.10% 17.00% 24.69% 18.58% 18.98% 22.04% 25.98% 25.93% 25.65% 25.49%
Net Nonoperating Expense Percent (NNEP)		 -5.34% -6.74% -13.42% -5.80% -4.62% 2,235.00% -18.83% -5.28% -27.84% 4.09% 5.23%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 37.89% 31.04% 27.42%
Cost of Revenue to Revenue		 57.64% 59.08% 58.33% 55.01% 55.00% 56.28% 55.28% 52.68% 53.49% 53.30% 52.54%
SG&A Expenses to Revenue		 5.53% 4.86% 3.60% 2.98% 2.89% 3.16% 3.30% 2.69% 2.85% 3.21% 3.54%
R&D to Revenue		 15.74% 15.02% 14.23% 12.12% 12.10% 14.06% 12.99% 10.77% 10.75% 11.70% 11.90%
Operating Expenses to Revenue		 25.61% 23.39% 21.79% 18.21% 18.11% 20.78% 19.34% 17.45% 16.31% 17.84% 18.51%
Earnings before Interest and Taxes (EBIT)		 1,543 1,701 2,168 4,014 4,630 3,506 4,406 7,007 7,827 7,954 8,399
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,918 2,072 2,557 4,421 5,087 3,869 4,782 7,401 8,271 8,469 8,791
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.86 2.32 3.92 5.97 4.34 5.97 5.09 9.82 6.21 6.65 8.07
Price to Tangible Book Value (P/TBV)		 6.22 4.98 8.51 10.02 9.10 10.53 7.73 13.88 9.28 8.83 10.21
Price to Revenue (P/Rev)		 2.48 1.83 2.61 3.80 1.78 3.36 3.13 5.22 2.94 4.10 5.64
Price to Earnings (P/E)		 20.97 12.85 16.44 15.86 9.78 18.13 14.87 20.43 11.60 15.86 21.37
Dividend Yield		 2.17% 2.72% 1.53% 0.76% 1.98% 1.54% 1.46% 0.69% 1.14% 0.89% 0.77%
Earnings Yield		 4.77% 7.79% 6.08% 6.31% 10.22% 5.51% 6.73% 4.90% 8.62% 6.30% 4.68%
Enterprise Value to Invested Capital (EV/IC)		 3.34 2.48 4.37 8.15 4.33 5.98 5.94 11.61 5.85 8.24 11.34
Enterprise Value to Revenue (EV/Rev)		 2.30 1.75 2.52 3.60 1.78 3.36 3.02 5.13 2.97 3.97 5.42
Enterprise Value to EBITDA (EV/EBITDA)		 10.88 8.14 10.69 11.98 5.84 12.68 10.87 15.97 9.26 12.42 16.77
Enterprise Value to EBIT (EV/EBIT)		 13.52 9.92 12.61 13.19 6.42 13.99 11.80 16.87 9.79 13.22 17.55
Enterprise Value to NOPAT (EV/NOPAT)		 18.54 11.57 14.86 14.59 9.58 17.69 13.71 19.73 11.45 15.46 21.28
Enterprise Value to Operating Cash Flow (EV/OCF)		 11.59 14.51 10.65 13.97 7.85 15.11 13.66 21.72 14.19 12.09 16.99
Enterprise Value to Free Cash Flow (EV/FCFF)		 13.24 18.46 11.49 15.59 10.86 34.40 16.00 25.95 20.25 14.75 22.05
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.32 0.67 0.52 0.60 0.82 0.65 0.52 0.45 0.45 0.34 0.33
Long-Term Debt to Equity		 0.32 0.51 0.52 0.60 0.82 0.57 0.52 0.45 0.45 0.33 0.29
Financial Leverage		 -0.13 -0.16 -0.12 -0.23 -0.18 0.00 -0.10 -0.17 -0.05 -0.09 -0.27
Leverage Ratio		 1.69 1.84 2.01 2.05 2.29 2.43 2.20 2.11 2.15 2.01 1.84
Compound Leverage Factor		 1.58 1.73 1.87 1.95 2.17 2.27 2.08 2.04 2.09 1.95 1.79
Debt to Total Capital		 23.99% 40.10% 34.02% 37.31% 45.05% 39.28% 33.99% 30.80% 30.92% 25.38% 24.78%
Short-Term Debt to Total Capital		 0.00% 9.44% 0.00% 0.00% 0.00% 4.44% 0.00% 0.00% 0.00% 0.46% 3.16%
Long-Term Debt to Total Capital		 23.99% 30.66% 34.02% 37.31% 45.05% 34.84% 33.99% 30.80% 30.92% 24.92% 21.62%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 76.01% 59.90% 65.98% 62.69% 54.95% 60.72% 66.01% 69.20% 69.08% 74.62% 75.22%
Debt to EBITDA		 1.29 2.46 1.46 1.26 1.10 1.37 1.14 0.74 0.66 0.66 0.71
Net Debt to EBITDA		 -0.84 -0.39 -0.37 -0.65 0.00 0.00 -0.38 -0.28 0.11 -0.42 -0.68
Long-Term Debt to EBITDA		 1.29 1.88 1.46 1.26 1.10 1.22 1.14 0.74 0.66 0.64 0.62
Debt to NOPAT		 2.21 3.49 2.02 1.53 1.81 1.92 1.44 0.91 0.82 0.82 0.90
Net Debt to NOPAT		 -1.43 -0.56 -0.52 -0.79 0.00 0.00 -0.48 -0.34 0.13 -0.53 -0.87
Long-Term Debt to NOPAT		 2.21 2.67 2.02 1.53 1.81 1.70 1.44 0.91 0.82 0.80 0.79
Altman Z-Score		 5.38 4.08 5.40 6.62 5.58 6.26 6.34 9.31 7.43 8.71 10.03
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.47 2.44 2.30 3.14 2.70 2.30 3.00 2.54 2.16 2.60 2.51
Quick Ratio		 1.71 1.77 1.66 2.34 1.62 1.38 1.95 1.64 1.17 1.63 1.74
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 1,575 914 2,379 3,397 2,738 1,426 3,248 4,556 3,782 7,131 6,684
Operating Cash Flow to CapEx		 833.33% 540.93% 1,014.23% 1,098.26% 608.84% 736.28% 901.42% 814.67% 686.02% 786.62% 729.16%
Free Cash Flow to Firm to Interest Expense		 16.58 8.87 15.35 17.15 11.70 6.02 13.53 19.30 16.59 29.96 27.06
Operating Cash Flow to Interest Expense		 18.95 11.29 16.55 19.14 16.18 13.70 15.85 23.06 23.68 36.55 35.13
Operating Cash Flow Less CapEx to Interest Expense		 16.67 9.20 14.92 17.39 13.53 11.84 14.09 20.23 20.23 31.91 30.31
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.72 0.68 0.72 0.86 0.90 0.80 0.83 0.96 0.98 0.92 0.83
Accounts Receivable Turnover		 5.49 5.67 5.39 6.37 7.17 6.02 6.26 5.83 4.68 4.72 5.23
Inventory Turnover		 3.51 3.36 3.25 3.25 2.76 2.29 2.58 2.96 2.69 2.42 2.56
Fixed Asset Turnover		 10.60 11.02 11.84 14.68 13.51 9.95 10.98 13.04 12.16 10.54 8.97
Accounts Payable Turnover		 2.96 3.07 3.09 3.44 3.55 3.14 3.37 3.28 3.24 3.31 3.13
Days Sales Outstanding (DSO)		 66.45 64.41 67.74 57.33 50.92 60.67 58.31 62.64 78.00 77.31 69.83
Days Inventory Outstanding (DIO)		 104.01 108.73 112.23 112.40 132.11 159.70 141.59 123.37 135.51 150.53 142.46
Days Payable Outstanding (DPO)		 123.27 118.83 118.19 106.21 102.71 116.13 108.41 111.25 112.54 110.20 116.52
Cash Conversion Cycle (CCC)		 47.18 54.31 61.79 63.51 80.32 104.24 91.49 74.76 100.98 117.64 95.77
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 6,254 6,799 6,260 6,493 6,859 8,206 8,750 10,185 13,090 12,760 13,002
Invested Capital Turnover		 1.40 1.48 1.66 2.31 2.50 1.94 2.03 2.44 2.22 2.05 2.11
Increase / (Decrease) in Invested Capital		 -450 545 -539 233 366 1,347 544 1,435 2,905 -330 242
Enterprise Value (EV)		 20,862 16,874 27,332 52,942 29,728 49,060 51,980 118,217 76,597 105,163 147,408
Market Capitalization		 22,476 17,688 28,289 55,798 29,714 49,068 53,808 120,279 75,701 108,752 153,407
Book Value per Share		 $6.46 $6.34 $6.68 $8.77 $6.96 $8.89 $11.58 $13.56 $14.17 $19.54 $23.05
Tangible Book Value per Share		 $2.97 $2.96 $3.08 $5.22 $3.32 $5.04 $7.62 $9.60 $9.48 $14.73 $18.22
Total Capital		 10,351 12,710 10,938 14,912 12,457 13,527 16,026 17,699 17,651 21,910 25,260
Total Debt		 2,483 5,097 3,721 5,563 5,612 5,313 5,448 5,452 5,457 5,561 6,259
Total Long-Term Debt		 2,483 3,897 3,721 5,563 5,612 4,713 5,448 5,452 5,457 5,461 5,460
Net Debt		 -1,614 -814 -957 -2,856 14 -8.00 -1,828 -2,062 896 -3,589 -5,999
Capital Expenditures (CapEx)		 216 215 253 345 622 441 422 668 787 1,106 1,190
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 982 1,698 972 1,527 2,652 2,741 3,172 4,304 5,965 5,006 4,080
Debt-free Net Working Capital (DFNWC)		 4,144 6,663 4,721 8,803 6,682 6,359 8,910 9,763 8,546 11,875 13,551
Net Working Capital (NWC)		 4,144 5,463 4,721 8,803 6,682 5,759 8,910 9,763 8,546 11,775 12,752
Net Nonoperating Expense (NNE)		 53 82 119 111 66 67 173 103 162 -55 -251
Net Nonoperating Obligations (NNO)		 -1,614 -814 -957 -2,856 14 -8.00 -1,828 -2,062 896 -3,589 -5,999
Total Depreciation and Amortization (D&A)		 375 371 389 407 457 363 376 394 444 515 392
Debt-free, Cash-free Net Working Capital to Revenue		 10.82% 17.58% 8.98% 10.39% 15.88% 18.76% 18.44% 18.66% 23.13% 18.88% 15.01%
Debt-free Net Working Capital to Revenue		 45.68% 68.98% 43.61% 59.89% 40.00% 43.53% 51.80% 42.33% 33.14% 44.78% 49.86%
Net Working Capital to Revenue		 45.68% 56.56% 43.61% 59.89% 40.00% 39.42% 51.80% 42.33% 33.14% 44.41% 46.92%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.88 $1.13 $1.56 $3.20 $3.27 $2.89 $3.95 $6.47 $7.49 $8.16 $8.68
Adjusted Weighted Average Basic Shares Outstanding		 1.22B 1.21B 1.11B 1.07B 1.01B 937M 916M 910M 871M 840M 827M
Adjusted Diluted Earnings per Share		 $0.87 $1.12 $1.54 $3.17 $3.23 $2.86 $3.92 $6.40 $7.44 $8.11 $8.61
Adjusted Weighted Average Diluted Shares Outstanding		 1.23B 1.23B 1.12B 1.08B 1.03B 945M 923M 919M 877M 845M 834M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.22B 1.15B 1.08B 1.06B 958.61M 915.30M 914.34M 888.51M 844.14M 831.07M 813.68M
Normalized Net Operating Profit after Tax (NOPAT)		 1,125 1,459 1,840 3,630 3,104 2,773 3,792 6,261 6,684 6,801 6,926
Normalized NOPAT Margin		 12.40% 15.10% 17.00% 24.69% 18.58% 18.98% 22.04% 27.15% 25.92% 25.65% 25.49%
Pre Tax Income Margin		 15.96% 16.54% 18.60% 25.96% 26.32% 22.38% 24.22% 29.36% 29.47% 29.10% 30.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 16.24 16.51 13.99 20.27 19.79 14.79 18.36 29.69 34.33 33.42 34.00
NOPAT to Interest Expense		 11.85 14.16 11.87 18.33 13.26 11.70 15.80 25.38 29.33 28.58 28.04
EBIT Less CapEx to Interest Expense		 13.97 14.43 12.35 18.53 17.13 12.93 16.60 26.86 30.88 28.77 29.19
NOPAT Less CapEx to Interest Expense		 9.57 12.08 10.24 16.59 10.61 9.84 14.04 22.55 25.88 23.93 23.22
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 45.24% 35.37% 25.80% 12.22% 19.91% 28.49% 21.75% 14.23% 13.38% 14.22% 16.61%
Augmented Payout Ratio		 45.24% 131.59% 135.74% 45.52% 193.81% 117.29% 39.68% 77.92% 106.91% 46.15% 69.88%

Quarterly Metrics And Ratios for Applied Materials

This table displays calculated financial ratios and metrics derived from Applied Materials' official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 10/30/2022 1/29/2023 4/30/2023 7/30/2023 10/29/2023 1/28/2024 4/28/2024 7/28/2024 10/27/2024 1/26/2025 4/27/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 10.22% 7.46% 6.16% -1.46% -0.39% -0.47% 0.24% 5.49% 4.79% 6.84% 6.83%
EBITDA Growth		 -1.80% 2.69% -3.25% -1.14% 10.85% 14.63% 9.25% 5.79% -12.25% -6.73% 16.01%
EBIT Growth		 -2.76% 1.92% -4.37% -2.66% 11.17% 16.93% 11.70% 8.41% -12.06% -7.58% 16.42%
NOPAT Growth		 -5.30% -6.23% 8.52% -6.25% 11.72% -0.03% -2.51% 8.53% 2.77% -29.47% 20.89%
Net Income Growth		 -7.07% -4.19% 2.54% -2.86% 25.96% 17.59% 9.33% 9.29% -13.62% -41.31% 24.10%
EPS Growth		 -1.60% 1.00% 6.90% 0.00% 28.65% 19.31% 10.75% 10.81% -12.18% -39.83% 27.67%
Operating Cash Flow Growth		 -25.35% -14.60% 452.29% 75.83% 81.45% 2.42% -39.27% -7.67% 65.59% -60.22% 12.86%
Free Cash Flow Firm Growth		 -550.01% -271.06% 111.39% 256.05% 268.21% 226.97% 2,725.00% -50.51% -24.28% -108.70% -65.29%
Invested Capital Growth		 28.52% 35.08% 15.03% 0.91% -2.52% -2.73% 4.39% 8.08% 1.90% 11.10% 12.22%
Revenue Q/Q Growth		 3.51% -0.15% -1.62% -3.09% 4.64% -0.24% -0.91% 1.99% 3.94% 1.72% -0.92%
EBITDA Q/Q Growth		 5.14% 0.52% -8.08% 1.78% 17.88% 3.94% -12.39% -1.44% -2.22% 10.48% 8.96%
EBIT Q/Q Growth		 4.64% 0.70% -9.01% 1.52% 19.51% 5.92% -13.08% -1.46% -3.06% 11.32% 9.48%
NOPAT Q/Q Growth		 -1.97% 5.97% -1.80% -8.10% 16.83% -5.18% -4.25% 2.31% 10.63% -34.92% 64.12%
Net Income Q/Q Growth		 -0.93% 7.92% -8.27% -0.95% 28.46% 0.75% -14.71% -0.99% 1.52% -31.54% 80.34%
EPS Q/Q Growth		 0.00% 9.19% -7.92% -0.54% 28.65% 1.26% -14.52% -0.49% 1.95% -30.62% 81.38%
Operating Cash Flow Q/Q Growth		 -41.66% 164.88% 0.97% 12.70% -39.80% 49.52% -40.13% 71.34% 7.97% -64.08% 69.84%
Free Cash Flow Firm Q/Q Growth		 -37.69% -28.10% 102.37% 3,633.91% 48.43% -3.31% -47.28% -34.59% 127.12% -111.11% 310.42%
Invested Capital Q/Q Growth		 9.71% -1.13% -2.14% -4.93% 5.98% -1.34% 5.02% -1.57% -0.08% 7.57% 6.08%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 45.95% 46.67% 46.67% 46.32% 47.14% 47.77% 47.44% 47.29% 47.34% 48.79% 49.08%
EBITDA Margin		 31.55% 31.76% 29.67% 31.16% 35.10% 36.57% 32.34% 31.25% 29.40% 31.93% 35.11%
Operating Margin		 29.55% 29.23% 28.82% 28.05% 29.32% 29.33% 28.77% 28.65% 29.04% 30.35% 30.55%
EBIT Margin		 29.72% 29.97% 27.72% 29.04% 33.17% 35.22% 30.89% 29.85% 27.84% 30.46% 33.66%
Profit (Net Income) Margin		 23.57% 25.48% 23.76% 24.28% 29.81% 30.10% 25.91% 25.15% 24.57% 16.54% 30.10%
Tax Burden Percent		 81.63% 87.56% 88.63% 86.38% 92.27% 87.67% 86.36% 86.99% 91.35% 55.92% 92.03%
Interest Burden Percent		 97.16% 97.08% 96.68% 96.78% 97.40% 97.50% 97.13% 96.89% 96.63% 97.07% 97.15%
Effective Tax Rate		 18.37% 12.44% 11.37% 13.62% 7.73% 12.33% 13.64% 13.01% 8.65% 44.08% 7.97%
Return on Invested Capital (ROIC)		 53.44% 59.67% 57.49% 53.65% 55.50% 53.34% 50.87% 53.43% 55.97% 35.30% 56.29%
ROIC Less NNEP Spread (ROIC-NNEP)		 59.74% 60.23% 69.17% 53.44% 41.72% 42.27% 48.67% 53.08% 58.85% 35.96% 53.20%
Return on Net Nonoperating Assets (RNNOA)		 -2.85% -6.63% -5.47% -6.28% -3.94% -7.29% -9.70% -13.89% -15.96% -9.45% -13.03%
Return on Equity (ROE)		 50.59% 53.04% 52.02% 47.37% 51.56% 46.06% 41.17% 39.54% 40.01% 25.85% 43.26%
Cash Return on Invested Capital (CROIC)		 32.50% 28.53% 42.66% 54.17% 55.17% 56.01% 47.89% 47.21% 51.89% 37.86% 36.86%
Operating Return on Assets (OROA)		 29.17% 29.48% 27.07% 27.25% 30.62% 31.35% 26.82% 25.02% 23.23% 25.95% 28.84%
Return on Assets (ROA)		 23.13% 25.06% 23.20% 22.78% 27.51% 26.80% 22.50% 21.09% 20.50% 14.09% 25.78%
Return on Common Equity (ROCE)		 50.59% 53.04% 52.02% 47.37% 51.56% 46.06% 41.17% 39.54% 40.01% 25.85% 43.26%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 48.06% 45.93% 42.69% 0.00% 41.07% 40.14% 39.54% 0.00% 34.06% 35.64%
Net Operating Profit after Tax (NOPAT)		 1,628 1,725 1,694 1,557 1,819 1,724 1,651 1,689 1,869 1,216 1,996
NOPAT Margin		 24.12% 25.60% 25.55% 24.23% 27.05% 25.71% 24.84% 24.92% 26.53% 16.97% 28.12%
Net Nonoperating Expense Percent (NNEP)		 -6.30% -0.57% -11.68% 0.22% 13.77% 11.08% 2.20% 0.35% -2.88% -0.66% 3.09%
Return On Investment Capital (ROIC_SIMPLE)		 9.22% - - - 8.30% 7.50% - - 7.40% 4.89% 7.91%
Cost of Revenue to Revenue		 54.05% 53.33% 53.33% 53.68% 52.86% 52.23% 52.56% 52.71% 52.66% 51.21% 50.92%
SG&A Expenses to Revenue		 2.93% 3.07% 3.23% 3.33% 3.23% 4.12% 3.72% 3.28% 3.07% 3.57% 2.92%
R&D to Revenue		 10.76% 11.44% 11.69% 11.94% 11.74% 11.24% 11.81% 12.33% 12.18% 11.99% 12.58%
Operating Expenses to Revenue		 16.40% 17.44% 17.84% 18.27% 17.82% 18.44% 18.67% 18.63% 18.30% 18.43% 18.54%
Earnings before Interest and Taxes (EBIT)		 2,006 2,020 1,838 1,866 2,230 2,362 2,053 2,023 1,961 2,183 2,390
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2,129 2,140 1,967 2,002 2,360 2,453 2,149 2,118 2,071 2,288 2,493
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 6.21 6.97 6.68 8.37 6.65 7.93 9.25 9.06 8.07 8.14 6.48
Price to Tangible Book Value (P/TBV)		 9.28 9.99 9.35 11.43 8.83 10.30 11.86 11.49 10.21 10.37 8.20
Price to Revenue (P/Rev)		 2.94 3.56 3.54 4.76 4.10 5.22 6.35 6.35 5.64 5.49 4.37
Price to Earnings (P/E)		 11.60 14.51 14.54 19.61 15.86 19.31 23.05 22.90 21.37 23.90 18.17
Dividend Yield		 1.14% 0.92% 0.93% 0.73% 0.89% 0.74% 0.63% 0.66% 0.77% 0.82% 1.06%
Earnings Yield		 8.62% 6.89% 6.88% 5.10% 6.30% 5.18% 4.34% 4.37% 4.68% 4.18% 5.50%
Enterprise Value to Invested Capital (EV/IC)		 5.85 7.19 7.33 10.24 8.24 10.59 12.36 12.66 11.34 10.51 8.00
Enterprise Value to Revenue (EV/Rev)		 2.97 3.55 3.49 4.65 3.97 5.04 6.17 6.14 5.42 5.32 4.22
Enterprise Value to EBITDA (EV/EBITDA)		 9.26 11.18 11.24 14.97 12.42 15.19 18.23 18.15 16.77 17.04 13.23
Enterprise Value to EBIT (EV/EBIT)		 9.79 11.84 11.94 15.95 13.22 16.08 19.20 19.01 17.55 17.88 13.87
Enterprise Value to NOPAT (EV/NOPAT)		 11.45 14.16 13.85 18.68 15.46 19.62 24.19 23.93 21.28 22.86 17.48
Enterprise Value to Operating Cash Flow (EV/OCF)		 14.19 18.58 13.49 15.41 12.09 15.23 20.80 21.52 16.99 20.20 15.91
Enterprise Value to Free Cash Flow (EV/FCFF)		 20.25 28.98 18.39 18.99 14.75 18.66 26.36 27.87 22.05 29.21 22.94
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.45 0.42 0.40 0.37 0.34 0.32 0.31 0.33 0.33 0.34 0.33
Long-Term Debt to Equity		 0.45 0.41 0.39 0.36 0.33 0.31 0.30 0.33 0.29 0.29 0.29
Financial Leverage		 -0.05 -0.11 -0.08 -0.12 -0.09 -0.17 -0.20 -0.26 -0.27 -0.26 -0.24
Leverage Ratio		 2.15 2.11 2.12 2.08 2.01 1.93 1.89 1.89 1.84 1.80 1.76
Compound Leverage Factor		 2.09 2.05 2.05 2.02 1.96 1.88 1.83 1.83 1.78 1.75 1.71
Debt to Total Capital		 30.92% 29.65% 28.59% 27.27% 25.38% 24.19% 23.41% 24.93% 24.78% 25.16% 24.82%
Short-Term Debt to Total Capital		 0.00% 1.04% 1.01% 0.96% 0.46% 0.44% 0.42% 0.39% 3.16% 3.21% 3.17%
Long-Term Debt to Total Capital		 30.92% 28.61% 27.59% 26.31% 24.92% 23.76% 22.99% 24.54% 21.62% 21.94% 21.66%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 69.08% 70.35% 71.41% 72.73% 74.62% 75.81% 76.59% 75.07% 75.22% 74.84% 75.18%
Debt to EBITDA		 0.66 0.68 0.68 0.69 0.66 0.63 0.62 0.69 0.71 0.73 0.70
Net Debt to EBITDA		 0.11 -0.06 -0.18 -0.37 -0.42 -0.55 -0.56 -0.64 -0.68 -0.54 -0.46
Long-Term Debt to EBITDA		 0.66 0.66 0.66 0.66 0.64 0.62 0.61 0.68 0.62 0.63 0.61
Debt to NOPAT		 0.82 0.86 0.84 0.86 0.82 0.82 0.82 0.91 0.90 0.97 0.92
Net Debt to NOPAT		 0.13 -0.07 -0.22 -0.46 -0.53 -0.71 -0.74 -0.85 -0.87 -0.72 -0.61
Long-Term Debt to NOPAT		 0.82 0.83 0.81 0.83 0.80 0.80 0.81 0.89 0.79 0.85 0.80
Altman Z-Score		 6.71 7.42 7.27 8.38 8.09 9.44 10.91 10.40 9.42 9.82 8.69
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.16 2.31 2.26 2.30 2.60 2.71 2.80 2.86 2.51 2.68 2.46
Quick Ratio		 1.17 1.30 1.35 1.43 1.63 1.72 1.79 1.95 1.74 1.84 1.62
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,277 -1,636 39 1,448 2,149 2,077 1,095 716 1,627 -181 380
Operating Cash Flow to CapEx		 384.30% 790.94% 898.82% 1,012.94% 503.24% 1,015.28% 541.63% 803.03% 632.68% 242.78% 308.04%
Free Cash Flow to Firm to Interest Expense		 -22.41 -27.73 0.64 24.13 37.04 35.21 18.56 11.37 24.65 -2.82 5.59
Operating Cash Flow to Interest Expense		 15.04 38.47 37.57 43.05 26.81 39.41 23.59 37.86 39.02 14.45 23.10
Operating Cash Flow Less CapEx to Interest Expense		 11.12 33.61 33.39 38.80 21.48 35.53 19.24 33.14 32.85 8.50 15.60
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.98 0.98 0.98 0.94 0.92 0.89 0.87 0.84 0.83 0.85 0.86
Accounts Receivable Turnover		 4.68 5.36 5.12 5.21 4.72 5.25 5.15 5.27 5.23 5.17 5.12
Inventory Turnover		 2.69 2.66 2.61 2.51 2.42 2.40 2.41 2.48 2.56 2.59 2.57
Fixed Asset Turnover		 12.16 11.75 11.51 11.06 10.54 9.96 9.61 9.42 8.97 8.65 8.27
Accounts Payable Turnover		 3.24 3.59 3.42 3.33 3.31 3.60 3.30 3.17 3.13 3.48 3.28
Days Sales Outstanding (DSO)		 78.00 68.06 71.24 70.04 77.31 69.49 70.89 69.32 69.83 70.65 71.24
Days Inventory Outstanding (DIO)		 135.51 137.19 139.81 145.15 150.53 152.06 151.63 147.02 142.46 140.82 142.15
Days Payable Outstanding (DPO)		 112.54 101.61 106.74 109.46 110.20 101.35 110.46 115.20 116.52 105.03 111.24
Cash Conversion Cycle (CCC)		 100.98 103.64 104.32 105.72 117.64 120.21 112.06 101.13 95.77 106.44 102.15
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 13,090 12,942 12,665 12,040 12,760 12,589 13,221 13,013 13,002 13,986 14,837
Invested Capital Turnover		 2.22 2.33 2.25 2.21 2.05 2.07 2.05 2.14 2.11 2.08 2.00
Increase / (Decrease) in Invested Capital		 2,905 3,361 1,655 109 -330 -353 556 973 242 1,397 1,616
Enterprise Value (EV)		 76,597 93,106 92,890 123,293 105,163 133,377 163,380 164,798 147,408 146,967 118,652
Market Capitalization		 75,701 93,584 94,354 126,346 108,752 138,217 168,358 170,625 153,407 151,606 122,776
Book Value per Share		 $14.17 $15.90 $16.72 $17.97 $19.54 $20.97 $21.90 $22.75 $23.05 $22.89 $23.34
Tangible Book Value per Share		 $9.48 $11.10 $11.94 $13.17 $14.73 $16.14 $17.08 $17.93 $18.22 $17.97 $18.42
Total Capital		 17,651 19,077 19,787 20,752 21,910 22,991 23,761 25,097 25,260 24,885 25,222
Total Debt		 5,457 5,657 5,658 5,659 5,561 5,562 5,562 6,257 6,259 6,260 6,261
Total Long-Term Debt		 5,457 5,458 5,459 5,460 5,461 5,462 5,463 6,158 5,460 5,461 5,462
Net Debt		 896 -478 -1,464 -3,053 -3,589 -4,840 -4,978 -5,827 -5,999 -4,639 -4,124
Capital Expenditures (CapEx)		 223 287 255 255 309 229 257 297 407 381 510
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 5,965 5,617 5,003 4,319 5,006 4,714 4,923 4,439 4,080 5,544 5,764
Debt-free Net Working Capital (DFNWC)		 8,546 9,664 10,101 10,854 11,875 12,206 12,480 13,542 13,551 13,757 12,511
Net Working Capital (NWC)		 8,546 9,465 9,902 10,655 11,775 12,106 12,381 13,443 12,752 12,958 11,712
Net Nonoperating Expense (NNE)		 37 7.88 119 -3.46 -185 -295 -71 -16 138 31 -141
Net Nonoperating Obligations (NNO)		 896 -478 -1,464 -3,053 -3,589 -4,840 -4,978 -5,827 -5,999 -4,639 -4,124
Total Depreciation and Amortization (D&A)		 123 120 129 136 130 91 96 95 110 105 103
Debt-free, Cash-free Net Working Capital to Revenue		 23.13% 21.40% 18.78% 16.27% 18.88% 17.80% 18.58% 16.53% 15.01% 20.06% 20.52%
Debt-free Net Working Capital to Revenue		 33.14% 36.81% 37.92% 40.89% 44.78% 46.09% 47.09% 50.43% 49.86% 49.78% 44.54%
Net Working Capital to Revenue		 33.14% 36.05% 37.17% 40.14% 44.41% 45.71% 46.72% 50.06% 46.92% 46.89% 41.70%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.86 $2.03 $1.87 $1.86 $2.40 $2.43 $2.08 $2.06 $2.11 $1.46 $2.64
Adjusted Weighted Average Basic Shares Outstanding		 871M 845M 843M 838M 840M 831M 830M 826M 827M 814M 809M
Adjusted Diluted Earnings per Share		 $1.85 $2.02 $1.86 $1.85 $2.38 $2.41 $2.06 $2.05 $2.09 $1.45 $2.63
Adjusted Weighted Average Diluted Shares Outstanding		 877M 849M 847M 843M 845M 837M 836M 833M 834M 819M 812M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 844.14M 845.12M 839.75M 836.53M 831.07M 830.90M 827.97M 824.40M 813.68M 812.44M 802.50M
Normalized Net Operating Profit after Tax (NOPAT)		 1,628 1,725 1,694 1,557 1,819 1,724 1,651 1,689 1,869 1,216 1,996
Normalized NOPAT Margin		 24.12% 25.60% 25.55% 24.23% 27.05% 25.71% 24.84% 24.92% 26.53% 16.97% 28.12%
Pre Tax Income Margin		 28.88% 29.10% 26.80% 28.11% 32.31% 34.34% 30.00% 28.92% 26.90% 29.57% 32.70%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 35.19 34.24 30.13 31.10 38.45 40.03 34.80 32.11 29.71 34.11 35.15
NOPAT to Interest Expense		 28.56 29.24 27.77 25.94 31.35 29.23 27.99 26.81 28.32 19.00 29.36
EBIT Less CapEx to Interest Expense		 31.28 29.37 25.95 26.85 33.12 36.15 30.44 27.40 23.55 28.16 27.65
NOPAT Less CapEx to Interest Expense		 24.64 24.37 23.59 21.69 26.03 25.35 23.63 22.10 22.15 13.05 21.86
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 13.38% 13.63% 13.67% 14.43% 14.22% 14.26% 14.62% 15.18% 16.61% 19.74% 19.40%
Augmented Payout Ratio		 106.91% 84.17% 68.38% 60.83% 46.15% 51.13% 51.02% 56.54% 69.88% 89.75% 97.69%

Key Financial Trends

Applied Materials (NASDAQ: AMAT) has shown steady financial performance over the past four years with notable trends in its income statements, balance sheets, and cash flow statements through recent quarters ending Q2 2025.

Income and Profitability:

  • Consistent revenue growth: Quarterly operating revenue increased from approximately $6.52 billion in Q3 2022 to $7.10 billion in Q2 2025, reflecting steady top-line expansion.
  • Net income growth: Consolidated net income rose from about $1.61 billion in Q3 2022 to $2.14 billion in Q2 2025, indicating improving profitability.
  • Gross profit improved in line with revenue, maintaining a strong gross margin above 48% across quarters, supporting strong operating income levels.
  • Operating expenses, including R&D and SG&A, increased slightly but remain controlled relative to revenue growth, supporting operational efficiency.
  • Earnings per share (diluted) grew from $1.85 in Q3 2022 to $2.63 in Q2 2025, showing value creation for shareholders despite share count fluctuations.

Balance Sheet Strength:

  • Total assets grew from roughly $26.16 billion in Q3 2022 to $33.63 billion in Q2 2025, reflecting investments in growth and expansion.
  • Cash and equivalents increased substantially, from about $3.0 billion in Q3 2022 to $6.17 billion in Q2 2025, enhancing liquidity.
  • Debt levels have been managed with long-term debt stable around $5.46 billion and total liabilities growing moderately, maintaining a healthy balance sheet structure.
  • Shareholders’ equity has increased from approximately $15.09 billion in Q4 2023 to $18.96 billion in Q2 2025, supporting book value growth.

Cash Flow and Capital Allocation:

  • Operating cash flow remains robust and increasing, with net cash from continuing operating activities rising to about $1.57 billion in Q2 2025 from $1.47 billion in Q2 2024, supporting company operations and investments.
  • Significant share repurchases are ongoing, with repurchases exceeding $1.67 billion in Q2 2025, which while benefiting shareholders, represent sizable cash outflows.
  • Strong investment in property, plant, and equipment averaging $300-$500 million quarterly underlines commitment to capacity and technology enhancement.
  • Net cash from financing activities is negative across recent quarters due to debt repayments, equity repurchases, and dividend payments, indicating substantial shareholder returns but cash outflow pressures.

Summary:

Applied Materials demonstrates strong and improving financial health characterized by steady revenue and profitability growth, expanding asset base, and strong cash flow from operations. The company is actively returning capital to shareholders via dividends and share buybacks, though this impacts net cash flow. Its liquidity and balance sheet metrics support ongoing investments and operational flexibility. Retail investors may view AMAT as a financially stable semiconductor equipment supplier with consistent earnings growth and solid capital management over the past four years.

08/08/25 04:21 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Applied Materials' Financials

When does Applied Materials' fiscal year end?

According to the most recent income statement we have on file, Applied Materials' financial year ends in October. Their financial year 2024 ended on October 27, 2024.

How has Applied Materials' net income changed over the last 10 years?

Applied Materials' net income appears to be on an upward trend, with a most recent value of $7.18 billion in 2024, rising from $1.07 billion in 2014. The previous period was $6.86 billion in 2023. Find out what analysts predict for Applied Materials in the coming months.

What is Applied Materials' operating income?
Applied Materials' total operating income in 2024 was $7.87 billion, based on the following breakdown:
  • Total Gross Profit: $12.90 billion
  • Total Operating Expenses: $5.03 billion
How has Applied Materials' revenue changed over the last 10 years?

Over the last 10 years, Applied Materials' total revenue changed from $9.07 billion in 2014 to $27.18 billion in 2024, a change of 199.6%.

How much debt does Applied Materials have?

Applied Materials' total liabilities were at $15.41 billion at the end of 2024, a 7.1% increase from 2023, and a 190.4% increase since 2014.

How much cash does Applied Materials have?

In the past 10 years, Applied Materials' cash and equivalents has ranged from $2.00 billion in 2022 to $8.02 billion in 2024, and is currently $8.02 billion as of their latest financial filing in 2024.

How has Applied Materials' book value per share changed over the last 10 years?

Over the last 10 years, Applied Materials' book value per share changed from 6.46 in 2014 to 23.05 in 2024, a change of 256.9%.


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This page (NASDAQ:AMAT) was last updated on 8/8/2025 by MarketBeat.com Staff
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