AMATNasdaqSemiconductors & Related DevicesFiscal year ends October 26
APPLIED MATERIALS INC /DE
Financials through Q3 FY2026, quarter ended Jul 26, 2026Last filing: 10-Q on Aug 20, 2026
$413.11+3.82 (+0.93%)
Close on Oct 19, 2026
- Market cap
- $330.49B
- P/E (TTM)
- 35.6
- Dividend yield
- 0.43%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
48.7%+4.0 pts over 5 years
Operating margin
29.2%+3.8 pts over 5 years
Net margin
24.7%+3.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +4.4% | +3.2% | +10.5% | +11.4% | |
| Gross profit | +7.1% | +4.8% | +12.4% | +13.3% | |
| Operating income | +5.4% | +2.1% | +13.7% | +17.2% | |
| Net income | -2.5% | +2.4% | +14.1% | +17.7% | |
| EPS, diluted | +0.6% | +5.2% | +17.2% | +22.7% | |
| Free cash flow | -23.9% | +7.3% | +11.0% | +19.6% | |
| Dividend per share | +17.1% | +20.4% | +15.4% | +33.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 22.9% | 38.5% | 35.5% | |
| Return on assets | 11.5% | 17.5% | 19.8% | |
| Current ratio | 2.30 | 3.00 | 2.61 | |
| Debt to equity | 0.48 | 0.52 | 0.32 | |
| Net debt to EBITDA | 0.05× | -0.00× | -0.08× | |
| Interest coverage | 13.9× | 18.2× | 30.8× | |
| Inventory turnover | 3.3× | 2.6× | 2.6× | |
| Capex to revenue | 2.3% | 2.5% | 8.0% | |
| Diluted shares | 1.12B | 923M | 808M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Applied Materials generated $36.18B from operations and spent $32.03B on capital expenditure, dividends and share buybacks. 19% of that went back into the business.
Generated
$36.18B
Used
$32.03B
Capital expenditure$6.01B19%Dividends$5.26B16%Share buybacks$20.76B65%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin24.7%
×Asset turnover0.80×
×Equity multiplier1.79×
=Return on equity, FY202535.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 24.7% | 0.80× | 1.79× | 35.5% |
| FY2024 | 26.4% | 0.83× | 1.84× | 40.6% |
| FY2023 | 25.9% | 0.92× | 2.01× | 48.0% |
| FY2022 | 25.3% | 0.98× | 2.15× | 53.4% |
| FY2021 | 25.5% | 0.96× | 2.11× | 51.6% |
| FY2020 | 21.0% | 0.83× | 2.20× | 38.5% |
| FY2019 | 18.5% | 0.80× | 2.43× | 35.9% |
| FY2018 | 18.2% | 0.90× | 2.25× | 36.9% |
| FY2017 | 23.9% | 0.86× | 1.99× | 41.3% |
| FY2016 | 15.9% | 0.72× | 1.99× | 22.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$7.00B
- Cash generatingOperating cash flow above zero$7.96B
- Return on assets improvedROA up on the prior year23.4% → 20.3%
- Earnings backed by cashOperating cash flow above net income$7.96B vs $7.00B
- Less leverageLong-term debt to assets fell15.9% → 17.8%
- Better liquidityCurrent ratio rose2.51 → 2.61
- No dilutionShare count did not rise834M → 808M
- Gross margin improvedGross margin up on the prior year47.46% → 48.67%
- More efficientAsset turnover rose0.88 → 0.82