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AMAT

Applied Materials, Inc.

AMAT

Applied Materials, Inc. • NASDAQ
$252.31 ▲ 0.94% (+2.34)
Market Cap $201.00 B
52w High $252.66
52w Low $123.74
Dividend Yield 1.78%
P/E 29.17
Volume 2.80M
Outstanding Shares 796.64M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $6.8B ▼ $1.553B ▲ $1.897B ▲ 27.897% ▲ $2.39 ▲ $2.448B ▲
Q3-2025 $7.302B ▲ $1.329B ▲ $1.779B ▼ 24.363% ▼ $2.22 ▼ $2.421B ▼
Q2-2025 $7.1B ▼ $1.316B ▼ $2.137B ▲ 30.099% ▲ $2.64 ▲ $2.493B ▲
Q1-2025 $7.166B ▲ $1.321B ▲ $1.185B ▼ 16.536% ▼ $1.46 ▼ $2.288B ▲
Q4-2024 $7.045B $1.289B $1.731B 24.571% $2.11 $2.071B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $8.573B ▲ $36.299B ▲ $15.884B ▲ $20.415B ▲
Q3-2025 $7.014B ▲ $34.211B ▲ $14.707B ▲ $19.504B ▲
Q2-2025 $6.747B ▼ $33.632B ▲ $14.671B ▼ $18.961B ▲
Q1-2025 $8.213B ▼ $33.338B ▼ $14.713B ▼ $18.625B ▼
Q4-2024 $9.471B $34.409B $15.408B $19.001B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $1.731B ▼ $2.828B ▲ $-139M ▲ $-831M ▲ $1.857B ▲ $2.043B ▼
Q3-2025 $1.779B ▼ $2.634B ▲ $-1.967B ▼ $-1.457B ▲ $-790M ▼ $2.05B ▲
Q2-2025 $2.137B ▲ $1.571B ▲ $221M ▲ $-1.903B ▼ $-111M ▲ $1.061B ▲
Q1-2025 $1.185B ▼ $925M ▼ $-897M ▲ $-1.786B ▼ $-1.758B ▼ $544M ▼
Q4-2024 $1.731B $2.575B $-1.071B $-1.769B $-265M $2.168B

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Applied Global Services
Applied Global Services
 $1.58Bn ▲$1.64Bn ▲$1.59Bn ▼$1.57Bn ▼
Corporate And Reconciling Items
Corporate And Reconciling Items
 $0 ▲$0 ▲$30.00M ▲$20.00M ▼
Display and Adjacent Markets
Display and Adjacent Markets
 $250.00M ▲$210.00M ▼$180.00M ▼$260.00M ▲
Semiconductor Systems
Semiconductor Systems
 $4.92Bn ▲$5.18Bn ▲$5.36Bn ▲$5.25Bn ▼

Five-Year Company Overview

Income Statement

Income Statement Applied Materials shows a pattern of steady, healthy growth rather than explosive swings. Revenue has climbed over the past few years, even as the industry moved through different parts of the cycle. Profitability is strong: gross margins remain high, and operating income has stayed solid and efficient, which suggests good cost control and pricing power. Net income and earnings per share have trended upward, indicating that growth is flowing through to the bottom line rather than being eaten up by rising expenses. Overall, the income statement tells a story of a mature, highly profitable company that continues to expand at a measured, sustainable pace.

Balance Sheet

Balance Sheet The balance sheet looks robust and better today than a few years ago. Total assets have grown, with cash levels rising meaningfully, giving the company more financial flexibility and a stronger liquidity cushion. Debt has increased only slightly and appears manageable in the context of larger equity and strong cash generation. Shareholders’ equity has expanded steadily, reflecting retained profits and a strengthening capital base. In simple terms, the company appears well-capitalized, with enough financial strength to support ongoing investment, withstand downturns, and navigate the semiconductor cycle.

Cash Flow

Cash Flow Cash generation is a major strength. Operating cash flow is consistently high and has improved along with earnings, showing that profits are backed by real cash, not just accounting gains. Free cash flow is strong and rising, even after funding capital expenditures. Importantly, the company does not need to spend aggressively on physical assets relative to the cash it brings in, leaving room for dividends, buybacks, debt service, or additional strategic investments. The cash flow profile suggests resilience through industry cycles and ample capacity to fund both innovation and shareholder returns.

Competitive Edge

Competitive Edge Applied Materials holds a leading position across multiple critical steps of semiconductor manufacturing, rather than being confined to a narrow niche. Its broad, integrated tool portfolio and deep process expertise make it a key partner for major chipmakers. High switching costs and tight collaboration with customers create sticky relationships that are difficult for rivals to displace. Scale, global service capabilities, and a large patent portfolio further reinforce its moat. The main vulnerability remains the cyclical nature of chip capital spending, but within that volatile environment, Applied operates from a position of clear strength and influence.

Innovation and R&D

Innovation and R&D Innovation is at the heart of Applied Materials’ edge. The company consistently invests heavily in research and development, and a significant portion of its sales comes from relatively new products—evidence that R&D is converting into commercial success. It is deeply involved in next-generation chip technologies such as advanced transistor structures, high‑bandwidth memory, and sophisticated packaging and bonding solutions. Its tools enable critical roadmaps for AI, high‑performance computing, and more energy‑efficient chips. The key risk is that the technology frontier moves very quickly, so sustained high R&D spend and flawless execution are essential to maintain leadership.

Summary

Putting it all together, Applied Materials combines strong profitability, a solid and improving balance sheet, and powerful cash generation with a deeply entrenched competitive position in the semiconductor equipment industry. Its technology is central to major long‑term trends like AI, advanced memory, and new chip architectures, and its broad portfolio and process know‑how give it a durable moat. At the same time, results will remain exposed to the ups and downs of chipmakers’ capital spending and the rapid pace of technological change. Overall, the company appears financially resilient and strategically well‑positioned within a cyclical but structurally growing industry.

NEWS

November 17, 2025 · 7:30 AM UTC

Applied Materials to Participate at UBS Global Technology and AI Conference

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November 13, 2025 · 4:01 PM UTC

Applied Materials Announces Fourth Quarter and Fiscal Year 2025 Results

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October 30, 2025 · 7:30 AM UTC

Applied Materials to Report Fourth Quarter and Fiscal 2025 Results on Nov. 13, 2025

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October 9, 2025 · 11:30 AM UTC

Applied Materials and Arizona State University Celebrate Opening of ‘Materials-to-Fab' Center

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October 7, 2025 · 8:30 AM UTC

Applied Materials Unveils Next-Gen Chipmaking Products to Supercharge AI Performance

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