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Applied Materials (AMAT) Financials

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$165.63 +1.24 (+0.75%)
As of 03:11 PM 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 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 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 7/27/2025
Net Income / (Loss) Attributable to Common Shareholders		 1,717 1,575 1,560 2,004 2,019 1,722 1,705 1,731 1,185 2,137 1,779
Consolidated Net Income / (Loss)		 1,717 1,575 1,560 2,004 2,019 1,722 1,705 1,731 1,185 2,137 1,779
Net Income / (Loss) Continuing Operations		 1,717 1,575 1,560 2,004 2,019 1,722 1,705 1,731 1,185 2,137 1,779
Total Pre-Tax Income 		1,961 1,777 1,806 2,172 2,303 1,994 1,960 1,895 2,119 2,322 2,563
Total Operating Income		 1,970 1,911 1,802 1,971 1,967 1,912 1,942 2,046 2,175 2,169 2,233
Total Gross Profit		 3,145 3,094 2,976 3,169 3,204 3,153 3,205 3,335 3,496 3,485 3,562
Total Revenue		 6,739 6,630 6,425 6,723 6,707 6,646 6,778 7,045 7,166 7,100 7,302
Operating Revenue		 6,739 6,630 6,425 6,723 6,707 6,646 6,778 7,045 7,166 7,100 7,302
Total Cost of Revenue		 3,594 3,536 3,449 3,554 3,503 3,493 3,573 3,710 3,670 3,615 3,740
Operating Cost of Revenue		 3,594 3,536 3,449 3,554 3,503 3,493 3,573 3,710 3,670 3,615 3,740
Total Operating Expenses		 1,175 1,183 1,174 1,198 1,237 1,241 1,263 1,289 1,321 1,316 1,329
Selling, General & Admin Expense		 207 214 214 217 276 247 222 216 256 207 204
Marketing Expense		 197 194 193 192 207 209 205 215 206 216 224
Research & Development Expense		 771 775 767 789 754 785 836 858 859 893 901
Total Other Income / (Expense), net		 -9.00 -134 4.00 201 336 82 18 -151 -56 153 330
Interest Expense		 59 61 60 58 59 59 63 66 64 68 66
Other Income / (Expense), net		 50 -73 64 259 395 141 81 -85 8.00 221 396
Income Tax Expense		 244 202 246 168 284 272 255 164 934 185 784
Basic Earnings per Share		 $2.03 $1.87 $1.86 $2.40 $2.43 $2.08 $2.06 $2.11 $1.46 $2.64 $2.23
Weighted Average Basic Shares Outstanding		 845M 843M 838M 840M 831M 830M 826M 827M 814M 809M 798M
Diluted Earnings per Share		 $2.02 $1.86 $1.85 $2.38 $2.41 $2.06 $2.05 $2.09 $1.45 $2.63 $2.22
Weighted Average Diluted Shares Outstanding		 849M 847M 843M 845M 837M 836M 833M 834M 819M 812M 802M
Weighted Average Basic & Diluted Shares Outstanding		 845.12M 839.75M 836.53M 831.07M 830.90M 827.97M 824.40M 813.68M 812.44M 802.50M 796.64M

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 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 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 7/27/2025
Net Change in Cash & Equivalents		 1,553 1,042 1,438 100 721 221 1,203 -265 -1,758 -111 -790
Net Cash From Operating Activities		 2,270 2,292 2,583 1,555 2,325 1,392 2,385 2,575 925 1,571 2,634
Net Cash From Continuing Operating Activities		 2,270 2,292 2,583 1,555 2,325 1,392 2,385 2,575 925 1,571 2,634
Net Income / (Loss) Continuing Operations		 1,717 1,575 1,560 2,004 2,019 1,722 1,705 1,731 1,185 2,137 1,779
Consolidated Net Income / (Loss)		 1,717 1,575 1,560 2,004 2,019 1,722 1,705 1,731 1,185 2,137 1,779
Depreciation Expense		 120 129 136 130 91 96 95 110 105 103 113
Non-Cash Adjustments To Reconcile Net Income		 148 113 114 -52 170 134 132 15 195 159 158
Changes in Operating Assets and Liabilities, net		 285 475 773 -527 45 -560 453 719 -560 -828 584
Net Cash From Investing Activities		 -299 -322 -425 -489 -447 -149 -660 -1,071 -897 221 -1,967
Net Cash From Continuing Investing Activities		 -299 -322 -425 -489 -447 -149 -660 -1,071 -897 221 -1,967
Purchase of Property, Plant & Equipment		 -287 -255 -255 -309 -229 -257 -297 -407 -381 -510 -584
Purchase of Investments		 -406 -324 -465 -477 -749 -474 -745 -1,620 -1,711 -1,222 -2,176
Sale and/or Maturity of Investments		 414 255 302 297 531 582 382 956 1,223 1,921 793
Net Cash From Financing Activities		 -418 -928 -720 -966 -1,157 -1,022 -522 -1,769 -1,786 -1,903 -1,457
Net Cash From Continuing Financing Activities		 -418 -928 -720 -966 -1,157 -1,022 -522 -1,769 -1,786 -1,903 -1,457
Repayment of Debt		 -110 -299 -299 -199 -99 -114 -99 -190 -200 -102 -100
Repurchase of Common Equity		 -250 -800 -439 -700 -700 -820 -861 -1,442 -1,318 -1,670 -1,056
Payment of Dividends		 -220 -219 -268 -268 -266 -266 -331 -329 -326 -325 -368
Issuance of Debt		 298 297 297 99 100 100 794 101 200 100 100
Other Financing Activities, net		 -136 -18 -11 -14 -192 -41 -25 -33 -142 -35 -33
Cash Interest Paid		 34 68 35 68 34 68 35 68 52 68 51
Cash Income Taxes Paid		 69 152 197 588 139 467 213 138 70 763 436

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 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 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 7/27/2025
Total Assets		 27,959 29,092 30,410 30,729 31,540 31,949 33,647 34,409 33,338 33,632 34,211
Total Current Assets		 16,715 17,773 18,879 19,147 19,182 19,265 20,671 21,220 20,694 19,708 19,718
Cash & Equivalents		 3,547 4,588 6,025 6,132 6,854 7,085 8,288 8,022 6,264 6,169 5,384
Short-Term Investments		 500 510 510 737 638 472 815 1,449 1,949 578 1,630
Accounts Receivable		 5,385 5,516 5,230 5,165 4,700 4,778 4,970 5,234 5,998 6,187 5,772
Inventories, net		 6,054 5,940 5,809 5,725 5,646 5,691 5,568 5,421 5,501 5,656 5,807
Other Current Assets		 1,229 1,219 1,305 1,388 1,344 1,239 1,030 1,094 982 1,118 1,125
Plant, Property, & Equipment, net		 2,494 2,559 2,604 2,723 2,826 2,958 3,100 3,339 3,563 3,832 4,124
Total Noncurrent Assets		 8,750 8,760 8,927 8,859 9,532 9,726 9,876 9,850 9,081 10,092 10,369
Long-Term Investments		 2,088 2,024 2,177 2,281 2,910 2,983 2,981 2,787 2,686 3,638 4,133
Goodwill		 3,718 3,711 3,732 3,732 3,732 3,732 3,732 3,732 3,768 3,748 3,748
Intangible Assets		 332 328 305 294 283 273 262 249 237 249 238
Noncurrent Deferred & Refundable Income Taxes		 2,612 2,697 2,713 2,552 2,607 2,738 2,901 3,082 2,390 2,457 2,250
Total Liabilities & Shareholders' Equity		 27,959 29,092 30,410 30,729 31,540 31,949 33,647 34,409 33,338 33,632 34,211
Total Liabilities		 14,539 14,963 15,317 14,380 14,111 13,750 14,807 15,408 14,713 14,671 14,707
Total Current Liabilities		 7,250 7,871 8,224 7,372 7,076 6,884 7,228 8,468 7,736 7,996 7,883
Short-Term Debt		 199 199 199 100 100 99 99 799 799 799 799
Accounts Payable		 3,969 4,299 4,528 4,297 3,829 4,174 4,387 4,820 4,485 4,706 4,614
Other Current Liabilities		 3,082 3,373 3,497 2,975 3,147 2,611 2,742 2,849 - 2,491 2,470
Total Noncurrent Liabilities		 7,289 7,092 7,093 7,008 7,035 6,866 7,579 6,940 6,977 6,675 6,824
Long-Term Debt		 5,458 5,459 5,460 5,461 5,462 5,463 6,158 5,460 5,461 5,462 5,463
Noncurrent Deferred Revenue		 975 822 818 833 850 656 671 670 684 321 330
Other Noncurrent Operating Liabilities		 856 811 815 714 723 747 750 810 832 892 1,031
Total Equity & Noncontrolling Interests		 13,420 14,129 15,093 16,349 17,429 18,199 18,840 19,001 18,625 18,961 19,504
Total Preferred & Common Equity		 13,420 14,129 15,093 16,349 17,429 18,199 18,840 19,001 18,625 18,961 19,504
Total Common Equity		 13,420 14,129 15,093 16,349 17,429 18,199 18,840 19,001 18,625 18,961 19,504
Common Stock		 8,613 8,819 8,922 9,139 9,117 9,329 9,436 9,668 9,721 9,974 10,098
Retained Earnings		 39,389 40,696 41,988 43,726 45,480 46,871 48,247 49,651 50,511 52,280 53,694
Accumulated Other Comprehensive Income / (Loss)		 -235 -235 -223 -217 -166 -172 -146 -168 -143 -144 -102
Other Equity Adjustments		 - - - - -37,002 -37,829 -38,697 -40,150 - -43,149 -44,186

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 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 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 7/27/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 7.46% 6.16% -1.46% -0.39% -0.47% 0.24% 5.49% 4.79% 6.84% 6.83% 7.73%
EBITDA Growth		 2.69% -3.25% -1.14% 10.85% 14.63% 9.25% 5.79% -12.25% -6.73% 16.01% 29.46%
EBIT Growth		 1.92% -4.37% -2.66% 11.17% 16.93% 11.70% 8.41% -12.06% -7.58% 16.42% 29.96%
NOPAT Growth		 -6.23% 8.52% -6.25% 11.72% -0.03% -2.51% 8.53% 2.77% -29.47% 20.89% -8.25%
Net Income Growth		 -4.19% 2.54% -2.86% 25.96% 17.59% 9.33% 9.29% -13.62% -41.31% 24.10% 4.34%
EPS Growth		 1.00% 6.90% 0.00% 28.65% 19.31% 10.75% 10.81% -12.18% -39.83% 27.67% 8.29%
Operating Cash Flow Growth		 -14.60% 452.29% 75.83% 81.45% 2.42% -39.27% -7.67% 65.59% -60.22% 12.86% 10.44%
Free Cash Flow Firm Growth		 -271.06% 111.39% 256.05% 268.21% 226.97% 2,725.00% -50.51% -24.28% -108.70% -65.29% -107.83%
Invested Capital Growth		 35.08% 15.03% 0.91% -2.52% -2.73% 4.39% 8.08% 1.90% 11.10% 12.22% 12.34%
Revenue Q/Q Growth		 -0.15% -1.62% -3.09% 4.64% -0.24% -0.91% 1.99% 3.94% 1.72% -0.92% 2.85%
EBITDA Q/Q Growth		 0.52% -8.08% 1.78% 17.88% 3.94% -12.39% -1.44% -2.22% 10.48% 8.96% 9.99%
EBIT Q/Q Growth		 0.70% -9.01% 1.52% 19.51% 5.92% -13.08% -1.46% -3.06% 11.32% 9.48% 10.00%
NOPAT Q/Q Growth		 5.97% -1.80% -8.10% 16.83% -5.18% -4.25% 2.31% 10.63% -34.92% 64.12% -22.35%
Net Income Q/Q Growth		 7.92% -8.27% -0.95% 28.46% 0.75% -14.71% -0.99% 1.52% -31.54% 80.34% -16.75%
EPS Q/Q Growth		 9.19% -7.92% -0.54% 28.65% 1.26% -14.52% -0.49% 1.95% -30.62% 81.38% -15.59%
Operating Cash Flow Q/Q Growth		 164.88% 0.97% 12.70% -39.80% 49.52% -40.13% 71.34% 7.97% -64.08% 69.84% 67.66%
Free Cash Flow Firm Q/Q Growth		 -28.10% 102.37% 3,633.91% 48.43% -3.31% -47.28% -34.59% 127.12% -111.11% 310.42% -114.74%
Invested Capital Q/Q Growth		 -1.13% -2.14% -4.93% 5.98% -1.34% 5.02% -1.57% -0.08% 7.57% 6.08% -1.47%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 46.67% 46.67% 46.32% 47.14% 47.77% 47.44% 47.29% 47.34% 48.79% 49.08% 48.78%
EBITDA Margin		 31.76% 29.67% 31.16% 35.10% 36.57% 32.34% 31.25% 29.40% 31.93% 35.11% 37.55%
Operating Margin		 29.23% 28.82% 28.05% 29.32% 29.33% 28.77% 28.65% 29.04% 30.35% 30.55% 30.58%
EBIT Margin		 29.97% 27.72% 29.04% 33.17% 35.22% 30.89% 29.85% 27.84% 30.46% 33.66% 36.00%
Profit (Net Income) Margin		 25.48% 23.76% 24.28% 29.81% 30.10% 25.91% 25.15% 24.57% 16.54% 30.10% 24.36%
Tax Burden Percent		 87.56% 88.63% 86.38% 92.27% 87.67% 86.36% 86.99% 91.35% 55.92% 92.03% 69.41%
Interest Burden Percent		 97.08% 96.68% 96.78% 97.40% 97.50% 97.13% 96.89% 96.63% 97.07% 97.15% 97.49%
Effective Tax Rate		 12.44% 11.37% 13.62% 7.73% 12.33% 13.64% 13.01% 8.65% 44.08% 7.97% 30.59%
Return on Invested Capital (ROIC)		 59.67% 57.49% 53.65% 55.50% 53.34% 50.87% 53.43% 55.97% 35.30% 56.29% 43.96%
ROIC Less NNEP Spread (ROIC-NNEP)		 60.23% 69.17% 53.44% 41.72% 42.27% 48.67% 53.08% 58.85% 35.96% 53.20% 39.68%
Return on Net Nonoperating Assets (RNNOA)		 -6.63% -5.47% -6.28% -3.94% -7.29% -9.70% -13.89% -15.96% -9.45% -13.03% -11.09%
Return on Equity (ROE)		 53.04% 52.02% 47.37% 51.56% 46.06% 41.17% 39.54% 40.01% 25.85% 43.26% 32.87%
Cash Return on Invested Capital (CROIC)		 28.53% 42.66% 54.17% 55.17% 56.01% 47.89% 47.21% 51.89% 37.86% 36.86% 36.29%
Operating Return on Assets (OROA)		 29.48% 27.07% 27.25% 30.62% 31.35% 26.82% 25.02% 23.23% 25.95% 28.84% 30.36%
Return on Assets (ROA)		 25.06% 23.20% 22.78% 27.51% 26.80% 22.50% 21.09% 20.50% 14.09% 25.78% 20.55%
Return on Common Equity (ROCE)		 53.04% 52.02% 47.37% 51.56% 46.06% 41.17% 39.54% 40.01% 25.85% 43.26% 32.87%
Return on Equity Simple (ROE_SIMPLE)		 48.06% 45.93% 42.69% 0.00% 41.07% 40.14% 39.54% 0.00% 34.06% 35.64% 0.00%
Net Operating Profit after Tax (NOPAT)		 1,725 1,694 1,557 1,819 1,724 1,651 1,689 1,869 1,216 1,996 1,550
NOPAT Margin		 25.60% 25.55% 24.23% 27.05% 25.71% 24.84% 24.92% 26.53% 16.97% 28.12% 21.23%
Net Nonoperating Expense Percent (NNEP)		 -0.57% -11.68% 0.22% 13.77% 11.08% 2.20% 0.35% -2.88% -0.66% 3.09% 4.28%
Return On Investment Capital (ROIC_SIMPLE)		 - - - 8.30% 7.50% - - 7.40% 4.89% 7.91% 6.02%
Cost of Revenue to Revenue		 53.33% 53.33% 53.68% 52.86% 52.23% 52.56% 52.71% 52.66% 51.21% 50.92% 51.22%
SG&A Expenses to Revenue		 3.07% 3.23% 3.33% 3.23% 4.12% 3.72% 3.28% 3.07% 3.57% 2.92% 2.79%
R&D to Revenue		 11.44% 11.69% 11.94% 11.74% 11.24% 11.81% 12.33% 12.18% 11.99% 12.58% 12.34%
Operating Expenses to Revenue		 17.44% 17.84% 18.27% 17.82% 18.44% 18.67% 18.63% 18.30% 18.43% 18.54% 18.20%
Earnings before Interest and Taxes (EBIT)		 2,020 1,838 1,866 2,230 2,362 2,053 2,023 1,961 2,183 2,390 2,629
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2,140 1,967 2,002 2,360 2,453 2,149 2,118 2,071 2,288 2,493 2,742
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 6.97 6.68 8.37 6.65 7.93 9.25 9.06 8.07 8.14 6.48 7.62
Price to Tangible Book Value (P/TBV)		 9.99 9.35 11.43 8.83 10.30 11.86 11.49 10.21 10.37 8.20 9.58
Price to Revenue (P/Rev)		 3.56 3.54 4.76 4.10 5.22 6.35 6.35 5.64 5.49 4.37 5.19
Price to Earnings (P/E)		 14.51 14.54 19.61 15.86 19.31 23.05 22.90 21.37 23.90 18.17 21.75
Dividend Yield		 0.92% 0.93% 0.73% 0.89% 0.74% 0.63% 0.66% 0.77% 0.82% 1.06% 0.90%
Earnings Yield		 6.89% 6.88% 5.10% 6.30% 5.18% 4.34% 4.37% 4.68% 4.18% 5.50% 4.60%
Enterprise Value to Invested Capital (EV/IC)		 7.19 7.33 10.24 8.24 10.59 12.36 12.66 11.34 10.51 8.00 9.83
Enterprise Value to Revenue (EV/Rev)		 3.55 3.49 4.65 3.97 5.04 6.17 6.14 5.42 5.32 4.22 5.02
Enterprise Value to EBITDA (EV/EBITDA)		 11.18 11.24 14.97 12.42 15.19 18.23 18.15 16.77 17.04 13.23 14.98
Enterprise Value to EBIT (EV/EBIT)		 11.84 11.94 15.95 13.22 16.08 19.20 19.01 17.55 17.88 13.87 15.68
Enterprise Value to NOPAT (EV/NOPAT)		 14.16 13.85 18.68 15.46 19.62 24.19 23.93 21.28 22.86 17.48 21.71
Enterprise Value to Operating Cash Flow (EV/OCF)		 18.58 13.49 15.41 12.09 15.23 20.80 21.52 16.99 20.20 15.91 18.65
Enterprise Value to Free Cash Flow (EV/FCFF)		 28.98 18.39 18.99 14.75 18.66 26.36 27.87 22.05 29.21 22.94 28.66
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.42 0.40 0.37 0.34 0.32 0.31 0.33 0.33 0.34 0.33 0.32
Long-Term Debt to Equity		 0.41 0.39 0.36 0.33 0.31 0.30 0.33 0.29 0.29 0.29 0.28
Financial Leverage		 -0.11 -0.08 -0.12 -0.09 -0.17 -0.20 -0.26 -0.27 -0.26 -0.24 -0.28
Leverage Ratio		 2.11 2.12 2.08 2.01 1.93 1.89 1.89 1.84 1.80 1.76 1.77
Compound Leverage Factor		 2.05 2.05 2.02 1.96 1.88 1.83 1.83 1.78 1.75 1.71 1.73
Debt to Total Capital		 29.65% 28.59% 27.27% 25.38% 24.19% 23.41% 24.93% 24.78% 25.16% 24.82% 24.30%
Short-Term Debt to Total Capital		 1.04% 1.01% 0.96% 0.46% 0.44% 0.42% 0.39% 3.16% 3.21% 3.17% 3.10%
Long-Term Debt to Total Capital		 28.61% 27.59% 26.31% 24.92% 23.76% 22.99% 24.54% 21.62% 21.94% 21.66% 21.20%
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		 70.35% 71.41% 72.73% 74.62% 75.81% 76.59% 75.07% 75.22% 74.84% 75.18% 75.70%
Debt to EBITDA		 0.68 0.68 0.69 0.66 0.63 0.62 0.69 0.71 0.73 0.70 0.65
Net Debt to EBITDA		 -0.06 -0.18 -0.37 -0.42 -0.55 -0.56 -0.64 -0.68 -0.54 -0.46 -0.51
Long-Term Debt to EBITDA		 0.66 0.66 0.66 0.64 0.62 0.61 0.68 0.62 0.63 0.61 0.57
Debt to NOPAT		 0.86 0.84 0.86 0.82 0.82 0.82 0.91 0.90 0.97 0.92 0.95
Net Debt to NOPAT		 -0.07 -0.22 -0.46 -0.53 -0.71 -0.74 -0.85 -0.87 -0.72 -0.61 -0.74
Long-Term Debt to NOPAT		 0.83 0.81 0.83 0.80 0.80 0.81 0.89 0.79 0.85 0.80 0.83
Altman Z-Score		 7.42 7.27 8.38 8.09 9.44 10.91 10.40 9.42 9.82 8.69 9.76
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		 2.31 2.26 2.30 2.60 2.71 2.80 2.86 2.51 2.68 2.46 2.50
Quick Ratio		 1.30 1.35 1.43 1.63 1.72 1.79 1.95 1.74 1.84 1.62 1.62
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,636 39 1,448 2,149 2,077 1,095 716 1,627 -181 380 -56
Operating Cash Flow to CapEx		 790.94% 898.82% 1,012.94% 503.24% 1,015.28% 541.63% 803.03% 632.68% 242.78% 308.04% 451.03%
Free Cash Flow to Firm to Interest Expense		 -27.73 0.64 24.13 37.04 35.21 18.56 11.37 24.65 -2.82 5.59 -0.85
Operating Cash Flow to Interest Expense		 38.47 37.57 43.05 26.81 39.41 23.59 37.86 39.02 14.45 23.10 39.91
Operating Cash Flow Less CapEx to Interest Expense		 33.61 33.39 38.80 21.48 35.53 19.24 33.14 32.85 8.50 15.60 31.06
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.98 0.98 0.94 0.92 0.89 0.87 0.84 0.83 0.85 0.86 0.84
Accounts Receivable Turnover		 5.36 5.12 5.21 4.72 5.25 5.15 5.27 5.23 5.17 5.12 5.33
Inventory Turnover		 2.66 2.61 2.51 2.42 2.40 2.41 2.48 2.56 2.59 2.57 2.59
Fixed Asset Turnover		 11.75 11.51 11.06 10.54 9.96 9.61 9.42 8.97 8.65 8.27 7.92
Accounts Payable Turnover		 3.59 3.42 3.33 3.31 3.60 3.30 3.17 3.13 3.48 3.28 3.27
Days Sales Outstanding (DSO)		 68.06 71.24 70.04 77.31 69.49 70.89 69.32 69.83 70.65 71.24 68.51
Days Inventory Outstanding (DIO)		 137.19 139.81 145.15 150.53 152.06 151.63 147.02 142.46 140.82 142.15 140.88
Days Payable Outstanding (DPO)		 101.61 106.74 109.46 110.20 101.35 110.46 115.20 116.52 105.03 111.24 111.48
Cash Conversion Cycle (CCC)		 103.64 104.32 105.72 117.64 120.21 112.06 101.13 95.77 106.44 102.15 97.92
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 12,942 12,665 12,040 12,760 12,589 13,221 13,013 13,002 13,986 14,837 14,619
Invested Capital Turnover		 2.33 2.25 2.21 2.05 2.07 2.05 2.14 2.11 2.08 2.00 2.07
Increase / (Decrease) in Invested Capital		 3,361 1,655 109 -330 -353 556 973 242 1,397 1,616 1,606
Enterprise Value (EV)		 93,106 92,890 123,293 105,163 133,377 163,380 164,798 147,408 146,967 118,652 143,705
Market Capitalization		 93,584 94,354 126,346 108,752 138,217 168,358 170,625 153,407 151,606 122,776 148,590
Book Value per Share		 $15.90 $16.72 $17.97 $19.54 $20.97 $21.90 $22.75 $23.05 $22.89 $23.34 $24.30
Tangible Book Value per Share		 $11.10 $11.94 $13.17 $14.73 $16.14 $17.08 $17.93 $18.22 $17.97 $18.42 $19.34
Total Capital		 19,077 19,787 20,752 21,910 22,991 23,761 25,097 25,260 24,885 25,222 25,766
Total Debt		 5,657 5,658 5,659 5,561 5,562 5,562 6,257 6,259 6,260 6,261 6,262
Total Long-Term Debt		 5,458 5,459 5,460 5,461 5,462 5,463 6,158 5,460 5,461 5,462 5,463
Net Debt		 -478 -1,464 -3,053 -3,589 -4,840 -4,978 -5,827 -5,999 -4,639 -4,124 -4,885
Capital Expenditures (CapEx)		 287 255 255 309 229 257 297 407 381 510 584
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 5,617 5,003 4,319 5,006 4,714 4,923 4,439 4,080 5,544 5,764 5,620
Debt-free Net Working Capital (DFNWC)		 9,664 10,101 10,854 11,875 12,206 12,480 13,542 13,551 13,757 12,511 12,634
Net Working Capital (NWC)		 9,465 9,902 10,655 11,775 12,106 12,381 13,443 12,752 12,958 11,712 11,835
Net Nonoperating Expense (NNE)		 7.88 119 -3.46 -185 -295 -71 -16 138 31 -141 -229
Net Nonoperating Obligations (NNO)		 -478 -1,464 -3,053 -3,589 -4,840 -4,978 -5,827 -5,999 -4,639 -4,124 -4,885
Total Depreciation and Amortization (D&A)		 120 129 136 130 91 96 95 110 105 103 113
Debt-free, Cash-free Net Working Capital to Revenue		 21.40% 18.78% 16.27% 18.88% 17.80% 18.58% 16.53% 15.01% 20.06% 20.52% 19.64%
Debt-free Net Working Capital to Revenue		 36.81% 37.92% 40.89% 44.78% 46.09% 47.09% 50.43% 49.86% 49.78% 44.54% 44.15%
Net Working Capital to Revenue		 36.05% 37.17% 40.14% 44.41% 45.71% 46.72% 50.06% 46.92% 46.89% 41.70% 41.36%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.03 $1.87 $1.86 $2.40 $2.43 $2.08 $2.06 $2.11 $1.46 $2.64 $2.23
Adjusted Weighted Average Basic Shares Outstanding		 845M 843M 838M 840M 831M 830M 826M 827M 814M 809M 798M
Adjusted Diluted Earnings per Share		 $2.02 $1.86 $1.85 $2.38 $2.41 $2.06 $2.05 $2.09 $1.45 $2.63 $2.22
Adjusted Weighted Average Diluted Shares Outstanding		 849M 847M 843M 845M 837M 836M 833M 834M 819M 812M 802M
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		 845.12M 839.75M 836.53M 831.07M 830.90M 827.97M 824.40M 813.68M 812.44M 802.50M 796.64M
Normalized Net Operating Profit after Tax (NOPAT)		 1,725 1,694 1,557 1,819 1,724 1,651 1,689 1,869 1,216 1,996 1,550
Normalized NOPAT Margin		 25.60% 25.55% 24.23% 27.05% 25.71% 24.84% 24.92% 26.53% 16.97% 28.12% 21.23%
Pre Tax Income Margin		 29.10% 26.80% 28.11% 32.31% 34.34% 30.00% 28.92% 26.90% 29.57% 32.70% 35.10%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 34.24 30.13 31.10 38.45 40.03 34.80 32.11 29.71 34.11 35.15 39.83
NOPAT to Interest Expense		 29.24 27.77 25.94 31.35 29.23 27.99 26.81 28.32 19.00 29.36 23.48
EBIT Less CapEx to Interest Expense		 29.37 25.95 26.85 33.12 36.15 30.44 27.40 23.55 28.16 27.65 30.98
NOPAT Less CapEx to Interest Expense		 24.37 23.59 21.69 26.03 25.35 23.63 22.10 22.15 13.05 21.86 14.64
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 13.63% 13.67% 14.43% 14.22% 14.26% 14.62% 15.18% 16.61% 19.74% 19.40% 19.73%
Augmented Payout Ratio		 84.17% 68.38% 60.83% 46.15% 51.13% 51.02% 56.54% 69.88% 89.75% 97.69% 100.03%

Key Financial Trends

Applied Materials (NASDAQ: AMAT) has demonstrated solid financial performance over the last four years, as evidenced by its income statements, balance sheets, and cash flow statements through Q3 2025.

Revenue and Profitability:

  • Steady growth in operating revenue from around $6.43 billion in Q3 2022 to $7.30 billion in Q3 2025, indicating strong top-line growth.
  • Gross profit increased from approximately $3.01 billion in Q4 2022 to $3.56 billion in Q3 2025, reflecting better margin management or operational efficiency.
  • Net income attributable to common shareholders increased from about $1.6 billion in Q3 2022 to $1.78 billion in Q3 2025, demonstrating improving profitability.
  • Earnings per share rose from $1.85 diluted EPS in Q3 2022 to $2.22 diluted EPS in Q3 2025, signaling increasing shareholder value.

Cash Flow and Investment Activities:

  • Strong operating cash flows, with net cash from continuing operating activities reaching $2.63 billion in Q3 2025, up from about $1.47 billion in Q3 2022, supporting business sustainability and growth.
  • Significant capital expenditures for property, plant, and equipment, totaling approximately $584 million in Q3 2025, reflecting investment in long-term growth but impacting free cash flow.
  • Increased net cash used in investing activities, with purchases of investments at $2.18 billion in Q3 2025, suggesting substantial outlays which may pressure liquidity in short-term.

Balance Sheet Strength:

  • Total assets increased from about $26.16 billion in Q3 2022 to $34.21 billion in Q3 2025, supporting growth and operational scale.
  • Common equity grew from $15.09 billion in Q3 2022 to $19.50 billion in Q3 2025, indicating strengthening shareholder equity base.
  • Total liabilities moderately increased from $14.32 billion in Q3 2022 to $14.71 billion in Q3 2025, showing stable leverage.

Shareholder Returns and Financing Activities:

  • Consistent payment of dividends, increasing from $0.26 per share in late 2022 to about $0.46 per share in 2025, rewarding shareholders.
  • Significant share repurchases continued, with about $1.06 billion spent on repurchasing common stock in Q3 2025, reducing cash reserves.
  • The company maintained manageable debt levels, with repayments roughly equaling new debt issuances, maintaining financial flexibility.

Summary:

Applied Materials has shown robust revenue and earnings growth over the past four years, accompanied by strong cash flows and expanding equity. The company continues to invest aggressively in capital assets and strategic investments, which may affect short-term cash but position it for future growth. Dividend increases and share repurchases reflect ongoing commitment to shareholder returns, although investors should watch the impact of significant cash outflows from investing and financing activities. Overall, the financials indicate a healthy, growing semiconductor equipment company with balanced capital management.

08/28/25 12:36 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Applied Materials' Financials

When does Applied Materials' financial year end?

According to the most recent income statement we have on file, Applied Materials' fiscal year ends in October. Their fiscal 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 8/28/2025 by MarketBeat.com Staff
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