APPLIED MATERIALS INC /DE AMAT
Applied Materials, Inc. is the leader in the materials engineering solutions used to produce virtually every semiconductor in the world. Semiconductors provide the foundation for advances in technology that are reshaping the global economy, including artificial intelligence, the internet of things, robotics, electric and autonomous vehicles, and clean energy. We are experts in the design, development, production, and servicing of the critical wafer fabrication tools our customers need to manufacture semiconductors. Our customers' products are used across personal computing devices, mobile phones, artificial intelligence (AI) and data center servers, automobiles, connected devices, industrial applications and consumer electronics. We are well positioned to address the increasing complexity in manufacturing semiconductors, by leveraging the semiconductor capital equipment industry's most comprehensive portfolio of products to connect and co-optimize our technologies. This enables our customers to evolve their semiconductor technology roadmaps and achieve superior results in their products.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $28.37B | $27.18B | $26.52B | $25.79B | $23.06B | $17.20B | $14.61B | $16.70B | $14.70B | $10.82B |
| Cost of revenue | $14.56B | $14.28B | $14.13B | $13.79B | $12.15B | $9.51B | $8.22B | $9.19B | $8.09B | $6.31B |
| Gross profit | $13.81B | $12.90B | $12.38B | $11.99B | $10.91B | $7.69B | $6.39B | $7.52B | $6.61B | $4.51B |
| R&D | $3.57B | $3.23B | $3.10B | $2.77B | $2.48B | $2.23B | $2.05B | $2.02B | $1.78B | $1.54B |
| SG&A | $1.77B | $1.80B | $1.63B | $735.0M | $620.0M | $567.0M | $461.0M | $483.0M | $438.0M | $390.0M |
| Total operating expenses | $5.52B | $5.03B | $4.73B | $4.21B | $4.03B | $3.33B | $3.04B | $3.03B | $2.68B | $2.36B |
| Operating income | $8.29B | $7.87B | $7.65B | $7.79B | $6.89B | $4.37B | $3.35B | $4.49B | $3.94B | $2.15B |
| Interest expense | $269.0M | $247.0M | $238.0M | $228.0M | $236.0M | $240.0M | $237.0M | $234.0M | $198.0M | $155.0M |
| Pre-tax income | $9.27B | $8.15B | $7.72B | $7.60B | $6.77B | $4.17B | $3.27B | $4.40B | $3.82B | $2.01B |
| Income tax | $2.27B | $975.0M | $860.0M | $1.07B | $883.0M | $547.0M | $563.0M | $1.36B | $297.0M | $292.0M |
| Net income | $7.00B | $7.18B | $6.86B | $6.53B | $5.89B | $3.62B | $2.71B | $3.04B | $3.52B | $1.72B |
| EPS, basic | 8.71 | 8.68 | 8.16 | 7.49 | 6.47 | 3.95 | 2.89 | 3.00 | 3.28 | 1.56 |
| EPS, diluted | 8.66 | 8.61 | 8.11 | 7.44 | 6.40 | 3.92 | 2.86 | 2.96 | 3.25 | 1.54 |
| Shares, diluted (wtd. avg.) | $808.0M | $834.0M | $845.0M | $877.0M | $919.0M | $923.0M | $945.0M | $1.03B | $1.08B | $1.12B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $7.24B | $8.02B | $6.13B | $2.10B | $5.10B | $5.47B | $3.13B | $3.44B | $5.01B | $3.41B |
| Short-term investments | $1.33B | $1.45B | $737.0M | $586.0M | $464.0M | $387.0M | $489.0M | $590.0M | $2.27B | $343.0M |
| Receivables | $5.18B | $5.23B | $5.17B | $6.07B | $4.95B | $2.96B | $2.53B | $2.32B | $2.34B | $2.28B |
| Inventory | $5.92B | $5.42B | $5.72B | $5.93B | $4.31B | $3.90B | $3.47B | $3.72B | $2.71B | $2.05B |
| Total current assets | $20.88B | $21.22B | $19.15B | $15.93B | $16.11B | $13.37B | $10.21B | $10.60B | $12.92B | $8.35B |
| Property, plant and equipment | $4.61B | $3.34B | $2.72B | $2.31B | $1.93B | $1.60B | $1.53B | $1.41B | $1.07B | $937.0M |
| Goodwill | $3.71B | $3.73B | $3.73B | $3.70B | $3.48B | $3.47B | $3.40B | $3.37B | $3.37B | $3.32B |
| Other intangibles | $226.0M | $249.0M | $294.0M | $339.0M | $104.0M | $153.0M | $156.0M | $213.0M | $412.0M | $575.0M |
| Total assets | $36.30B | $34.41B | $30.73B | $26.73B | $25.82B | $22.35B | $19.02B | $17.63B | $19.42B | $14.57B |
| Accounts payable | $1.98B | $1.57B | $1.48B | $1.75B | $1.47B | $1.12B | $958.0M | $996.0M | $945.0M | $813.0M |
| Short-term debt | $0 | $700.0M | $0 | $0 | — | $0 | $600.0M | $0 | $0 | $200.0M |
| Total current liabilities | $8.00B | $8.47B | $7.37B | $7.38B | $6.34B | $4.46B | $4.45B | $3.92B | $4.12B | $3.63B |
| Long-term debt | $6.46B | $5.46B | $5.46B | $5.46B | $5.45B | $5.45B | $4.71B | $5.31B | $5.30B | $3.12B |
| Total liabilities | $15.88B | $15.41B | $14.38B | $14.53B | $13.58B | $11.78B | $10.81B | $10.79B | $10.07B | $7.35B |
| Retained earnings | $55.23B | $49.65B | $43.73B | $37.89B | $32.25B | $27.21B | $24.39B | $20.88B | $18.26B | $15.25B |
| Total equity | $20.41B | $19.00B | $16.35B | $12.19B | $12.25B | $10.58B | $8.21B | $6.84B | $9.63B | $7.41B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7.96B | $8.68B | $8.70B | $5.40B | $5.44B | $3.80B | $3.25B | $3.79B | $3.79B | $2.57B |
| Depreciation and amortisation | $389.0M | $346.0M | $471.0M | $404.0M | $345.0M | $376.0M | $363.0M | $258.0M | $214.0M | $200.0M |
| Stock-based compensation | $668.0M | $577.0M | $490.0M | $413.0M | $346.0M | $307.0M | $263.0M | $258.0M | $220.0M | $201.0M |
| Capital expenditure | $2.26B | $1.19B | $1.11B | $787.0M | $668.0M | $422.0M | $441.0M | $622.0M | $345.0M | $253.0M |
| Investing cash flow | -$2.78B | -$2.33B | -$1.53B | -$1.36B | -$1.22B | -$130.0M | -$443.0M | $571.0M | -$2.53B | -$425.0M |
| Financing cash flow | -$5.98B | -$4.47B | -$3.03B | -$7.04B | -$4.59B | -$1.34B | -$3.12B | -$5.93B | $341.0M | -$3.53B |
| Dividends paid | $1.38B | $1.19B | $975.0M | $873.0M | $838.0M | $787.0M | $771.0M | $605.0M | $430.0M | $444.0M |
| Buybacks | $4.89B | $3.82B | $2.19B | $6.10B | $3.75B | $649.0M | $2.40B | $5.28B | $1.17B | $1.89B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-25-056742.
Others in SIC 3674
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