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Stocks · Technology · Semiconductors & Related Devices

Applied Materials

AMAT Clue Score73
United States Fiscal year ends October CIK 0000006951
$507.03 -0.50% Close, 9 Oct 2026
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Price $507.03 +297.67% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue10.83Operating income2.15Net income1.72EPS, diluted1.54Fiscal year 2017Revenue14.70 +35.8%Operating income3.94Net income3.52 +104.5%EPS, diluted3.25 +111.0%Fiscal year 2018Revenue16.71 +13.7%Operating income4.49Net income3.04 −13.7%EPS, diluted2.96 −8.9%Fiscal year 2019Revenue14.61 −12.6%Operating income3.35Net income2.71 −10.9%EPS, diluted2.86 −3.4%Fiscal year 2020Revenue17.20 +17.8%Operating income4.37Net income3.62 +33.7%EPS, diluted3.92 +37.1%Fiscal year 2021Revenue23.06 +34.1%Operating income6.89Net income5.89 +62.7%EPS, diluted6.40 +63.3%Fiscal year 2022Revenue25.79 +11.8%Operating income7.79Net income6.53 +10.8%EPS, diluted7.44 +16.3%Fiscal year 2023Revenue26.52 +2.8%Operating income7.65Net income6.86 +5.1%EPS, diluted8.11 +9.0%Fiscal year 2024Revenue27.18 +2.5%Operating income7.87Net income7.18 +4.7%EPS, diluted8.61 +6.2%Fiscal year 2025Revenue28.37 +4.4%Operating income8.29Net income7.00 −2.5%EPS, diluted8.66 +0.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 10.83 14.70 16.71 14.61 17.20 23.06 25.79 26.52 27.18 28.37
Growth +35.8% +13.7% −12.6% +17.8% +34.1% +11.8% +2.8% +2.5% +4.4%
Operating income 2.15 3.94 4.49 3.35 4.37 6.89 7.79 7.65 7.87 8.29
Net income 1.72 3.52 3.04 2.71 3.62 5.89 6.53 6.86 7.18 7.00
Growth +104.5% −13.7% −10.9% +33.7% +62.7% +10.8% +5.1% +4.7% −2.5%
EPS, diluted 1.54 3.25 2.96 2.86 3.92 6.40 7.44 8.11 8.61 8.66
Growth +111.0% −8.9% −3.4% +37.1% +63.3% +16.3% +9.0% +6.2% +0.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin41.7%Operating margin19.9%Net margin15.9%Free cash flow margin21.4%Fiscal year 2017Gross margin45.0%Operating margin26.8%Net margin23.9%Free cash flow margin23.4%Fiscal year 2018Gross margin45.0%Operating margin26.9%Net margin18.2%Free cash flow margin18.9%Fiscal year 2019Gross margin43.7%Operating margin22.9%Net margin18.5%Free cash flow margin19.2%Fiscal year 2020Gross margin44.7%Operating margin25.4%Net margin21.0%Free cash flow margin19.7%Fiscal year 2021Gross margin47.3%Operating margin29.9%Net margin25.5%Free cash flow margin20.7%Fiscal year 2022Gross margin46.5%Operating margin30.2%Net margin25.3%Free cash flow margin17.9%Fiscal year 2023Gross margin46.7%Operating margin28.9%Net margin25.9%Free cash flow margin28.6%Fiscal year 2024Gross margin47.5%Operating margin28.9%Net margin26.4%Free cash flow margin27.6%Fiscal year 2025Gross margin48.7%Operating margin29.2%Net margin24.7%Free cash flow margin20.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 41.7% 45.0% 45.0% 43.7% 44.7% 47.3% 46.5% 46.7% 47.5% 48.7%
Operating margin 19.9% 26.8% 26.9% 22.9% 25.4% 29.9% 30.2% 28.9% 28.9% 29.2%
Net margin 15.9% 23.9% 18.2% 18.5% 21.0% 25.5% 25.3% 25.9% 26.4% 24.7%
Free cash flow margin 21.4% 23.4% 18.9% 19.2% 19.7% 20.7% 17.9% 28.6% 27.6% 20.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow2.57Capital expenditure−0.25Free cash flow2.31Buybacks−1.89Dividends paid−0.44Fiscal year 2017Operating cash flow3.79Capital expenditure−0.35Free cash flow3.44 +48.9%Buybacks−1.17Dividends paid−0.43Fiscal year 2018Operating cash flow3.79Capital expenditure−0.62Free cash flow3.17 −8.1%Buybacks−5.28Dividends paid−0.61Fiscal year 2019Operating cash flow3.25Capital expenditure−0.44Free cash flow2.81 −11.3%Buybacks−2.40Dividends paid−0.77Fiscal year 2020Operating cash flow3.80Capital expenditure−0.42Free cash flow3.38 +20.5%Buybacks−0.65Dividends paid−0.79Fiscal year 2021Operating cash flow5.44Capital expenditure−0.67Free cash flow4.77 +41.2%Buybacks−3.75Dividends paid−0.84Fiscal year 2022Operating cash flow5.40Capital expenditure−0.79Free cash flow4.61 −3.4%Buybacks−6.10Dividends paid−0.87Fiscal year 2023Operating cash flow8.70Capital expenditure−1.11Free cash flow7.59 +64.7%Buybacks−2.19Dividends paid−0.98Fiscal year 2024Operating cash flow8.68Capital expenditure−1.19Free cash flow7.49 −1.4%Buybacks−3.82Dividends paid−1.19Fiscal year 2025Operating cash flow7.96Capital expenditure−2.26Free cash flow5.70 −23.9%Buybacks−4.90Dividends paid−1.38
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 2.57 3.79 3.79 3.25 3.80 5.44 5.40 8.70 8.68 7.96
Capital expenditure −0.25 −0.35 −0.62 −0.44 −0.42 −0.67 −0.79 −1.11 −1.19 −2.26
Free cash flow 2.31 3.44 3.17 2.81 3.38 4.77 4.61 7.59 7.49 5.70
Growth +48.9% −8.1% −11.3% +20.5% +41.2% −3.4% +64.7% −1.4% −23.9%
Buybacks −1.89 −1.17 −5.28 −2.40 −0.65 −3.75 −6.10 −2.19 −3.82 −4.90
Dividends paid −0.44 −0.43 −0.61 −0.77 −0.79 −0.84 −0.87 −0.98 −1.19 −1.38

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash3.41Total debt3.33Net cash (debt)0.08Shareholders’ equity7.41Debt to equity0.45Fiscal year 2017Cash5.01Total debt5.30Net cash (debt)−0.29Shareholders’ equity9.63Debt to equity0.55Fiscal year 2018Cash3.44Total debt5.31Net cash (debt)−1.87Shareholders’ equity6.85Debt to equity0.78Fiscal year 2019Cash3.13Total debt5.31Net cash (debt)−2.18Shareholders’ equity8.21Debt to equity0.65Fiscal year 2020Cash5.35Total debt5.45Net cash (debt)−0.10Shareholders’ equity10.58Debt to equity0.52Fiscal year 2021Cash5.00Total debt5.45Net cash (debt)−0.46Shareholders’ equity12.25Debt to equity0.45Fiscal year 2022Cash2.00Total debt5.46Net cash (debt)−3.46Shareholders’ equity12.19Debt to equity0.45Fiscal year 2023Cash6.13Total debt5.46Net cash (debt)0.67Shareholders’ equity16.35Debt to equity0.33Fiscal year 2024Cash8.02Total debt6.16Net cash (debt)1.86Shareholders’ equity19.00Debt to equity0.32Fiscal year 2025Cash7.24Total debt6.46Net cash (debt)0.79Shareholders’ equity20.42Debt to equity0.32
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 3.41 5.01 3.44 3.13 5.35 5.00 2.00 6.13 8.02 7.24
Total debt 3.33 5.30 5.31 5.31 5.45 5.45 5.46 5.46 6.16 6.46
Net cash (debt) 0.08 −0.29 −1.87 −2.18 −0.10 −0.46 −3.46 0.67 1.86 0.79
Shareholders’ equity 7.41 9.63 6.85 8.21 10.58 12.25 12.19 16.35 19.00 20.42
Debt to equity 0.45 0.55 0.78 0.65 0.52 0.45 0.45 0.33 0.32 0.32

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending October, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 30 Oct 2016 FY2017 29 Oct 2017 FY2018 28 Oct 2018 FY2019 27 Oct 2019 FY2020 25 Oct 2020 FY2021 31 Oct 2021 FY2022 30 Oct 2022 FY2023 29 Oct 2023 FY2024 27 Oct 2024 FY2025 26 Oct 2025
Revenue and profit
10.83 14.70 16.71 14.61 17.20 23.06 25.79 26.52 27.18 28.37
Growth +35.8% +13.7% −12.6% +17.8% +34.1% +11.8% +2.8% +2.5% +4.4%
6.31 8.09 9.19 8.22 9.51 12.15 13.79 14.13 14.28 14.56
4.51 6.61 7.52 6.39 7.69 10.91 11.99 12.38 12.90 13.81
Growth +46.6% +13.7% −15.0% +20.5% +41.9% +9.9% +3.3% +4.1% +7.1%
1.54 1.78 2.02 2.05 2.23 2.49 2.77 3.10 3.23 3.57
0.39 0.44 0.48 0.46 0.57 0.62 0.74 1.63 1.80 1.77
2.15 3.94 4.49 3.35 4.37 6.89 7.79 7.65 7.87 8.29
Growth +82.9% +14.1% −25.4% +30.3% +57.8% +13.0% −1.7% +2.8% +5.4%
2.01 3.82 4.40 3.27 4.17 6.77 7.60 7.72 8.15 9.27
0.29 0.30 1.36 0.56 0.55 0.88 1.07 0.86 0.98 2.27
1.72 3.52 3.04 2.71 3.62 5.89 6.53 6.86 7.18 7.00
Growth +104.5% −13.7% −10.9% +33.7% +62.7% +10.8% +5.1% +4.7% −2.5%
Per share
1.56 3.28 3.00 2.89 3.95 6.47 7.49 8.16 8.68 8.71
1.54 3.25 2.96 2.86 3.92 6.40 7.44 8.11 8.61 8.66
Growth +111.0% −8.9% −3.4% +37.1% +63.3% +16.3% +9.0% +6.2% +0.6%
1,107 1,073 1,013 937.0 916.0 910.0 871.0 840.0 827.0 804.0
1,116 1,084 1,026 945.0 923.0 919.0 877.0 845.0 834.0 808.0
Growth −2.9% −5.4% −7.9% −2.3% −0.4% −4.6% −3.6% −1.3% −3.1%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 10.5% a year over five years, and earnings per share grew 17.2% a year.
  • The diluted share count fell 12.5% in five years, so buybacks did some of the work per share.
  • Operating margin is up 3.8 points on five years ago, at 29.2%.
  • Profitable in every one of the 10 years on file.