Applied Materials

Information Technology Semiconductor Materials & Equipment Santa Clara, California Last filing Dec 12, 2025 · FY2025

                    Revenue
                    FY2025
                
$28.4B
                    3y CAGR +3.2%
                    
                    P38
                    
                    +4.4%
                    
                    Net income
                    FY2025
                
$7.0B
                    Net margin +24.7%
                    
                    P76
                    
                    -2.5%
                    
                    Total assets
                    FY2025
                
$36.3B
                    ROA +19.3%
                    
                    P89
                    
                    +5.5%
                    
                    Operating cash flow
                    FY2025
                
$8.0B
                    FCF margin +20.1%
                    
                    P50
                    
                    -8.3%

20 yrs · FY2006–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

35 accounts · 10 years

Total assets $36.3B

Total liabilities $15.9B

Shareholders equity $20.4B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	+8.7%	+11.3%	+8.8%	-8.5%	+8.0%	+12.0%	-2.8%	+0.5%	+47.1%	—
Short Term Investments	-6.8%	—	—	+13.0%	+26.0%	+33.4%	+17.8%	+26.2%	+169.5%	—
Accounts Receivable	+9.6%	+11.0%	+12.4%	+17.7%	+16.8%	+6.8%	+3.6%	+1.0%	+2.6%	—
Inventory	+12.5%	+12.9%	+15.8%	+19.4%	+16.0%	+17.5%	+19.2%	+34.7%	+32.0%	—
Prepaid Expenses	+21.2%	+22.8%	+26.5%	+29.4%	+33.4%	+33.8%	+37.1%	+61.4%	+68.6%	—
Other Current Assets	—	—	—	—	—	—	—	—	—	—
Total Current Assets	+10.7%	+12.4%	+12.6%	+11.4%	+14.0%	+12.5%	+6.9%	+12.7%	+54.7%	—
Property,Plant and Equipment	+19.4%	+17.2%	+16.5%	+16.2%	+15.6%	+14.4%	+17.7%	+22.5%	+13.8%	—
Operating Lease Assets	—	—	—	—	—	—	—	—	—	—
Goodwill	+1.2%	+1.5%	+1.7%	+1.8%	+1.0%	+1.1%	+0.8%	+0.8%	+1.6%	—
Intangible Assets	-9.9%	-9.9%	-9.1%	-8.4%	-29.0%	-28.2%	-35.3%	-39.1%	-28.3%	—
Long Term Investments	—	—	—	—	—	—	—	—	—	—
Deferred Tax Assets	—	—	—	—	—	—	—	—	—	—
Other Noncurrent Assets	—	—	—	—	—	—	—	—	—	—
Total Assets	+10.7%	+11.3%	+11.2%	+10.6%	+12.1%	+11.3%	+9.3%	+10.0%	+33.3%	—
Liabilities
Accounts Payable	+10.4%	+8.6%	+8.9%	+13.7%	+12.6%	+8.4%	+5.6%	+10.7%	+16.2%	—
Accrued Liabilities	+12.0%	+12.9%	+14.5%	+13.3%	+14.0%	+12.7%	+7.6%	+18.7%	+11.0%	—
Deferred Revenue	—	—	—	—	—	—	—	—	—	—
Current Portion of Long Term Debt	—	+17.0%	—	—	—	—	+44.2%	—	—	—
Operating Lease Liabilities	—	—	—	—	—	—	—	—	—	—
Other Current Liabilities	—	—	—	—	—	—	—	—	—	—
Total Current Liabilities	+9.2%	+11.2%	+10.6%	+12.5%	+11.8%	+5.3%	+7.0%	+3.9%	+13.3%	—
Long Term Debt	+8.4%	+7.2%	+8.3%	+9.7%	+11.8%	+14.9%	+14.7%	+30.3%	+69.7%	—
Operating Lease Liabilities Noncurrent	—	—	—	—	—	—	—	—	—	—
Deferred Tax Liabilities	—	+71.8%	+93.9%	+140.0%	+174.2%	+237.7%	+122.4%	+246.4%	+400.0%	—
Other Noncurrent Liabilities	+34.0%	+34.2%	+37.5%	+45.5%	+55.1%	+71.2%	+28.4%	+27.9%	+28.6%	—
Total Liabilities	+8.9%	+9.7%	+10.1%	+12.0%	+13.1%	+12.5%	+13.7%	+21.1%	+37.0%	—
Equity
Preferred Stock	—	—	—	—	—	—	—	—	—	—
Common Stock	-49.2%	-0.9%	-1.0%	-1.1%	-1.1%	-1.2%	-1.5%	-1.6%	-0.5%	—
Additional Paid In Capital	+4.7%	+4.5%	+4.3%	+4.0%	+3.9%	+3.8%	+3.7%	+3.4%	+3.6%	—
Retained Earnings	+15.4%	+15.9%	+16.2%	+16.4%	+16.2%	+15.6%	+16.9%	+17.0%	+19.7%	—
Treasury Stock	+13.2%	-15.4%	-23.8%	+15.0%	+13.7%	+13.2%	+17.0%	+19.9%	+8.0%	—
Accumulated Other Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Total Stockholders Equity	+11.9%	+12.5%	+12.0%	+8.6%	+10.6%	+9.3%	+3.5%	-3.9%	+29.9%	—
Total Liabilitiesand Equity	+10.5%	+11.2%	+11.0%	+10.4%	+11.8%	+10.9%	+8.8%	+9.3%	+33.4%	—

Income Statement

Revenue, expense, and profitability

20 accounts · 10 years

Revenue $28.4B

Operating income $8.3B

Net income $7.0B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+11.3%	+12.2%	+13.7%	+15.6%	+16.3%	+12.3%	+10.5%	+24.2%	+35.8%	—
Expenses Cost of Revenue	+9.7%	+10.7%	+12.2%	+13.9%	+14.0%	+10.8%	+9.2%	+20.6%	+28.1%	—
Expenses Research and Development	+9.8%	+9.7%	+10.5%	+10.3%	+10.0%	+9.7%	+10.1%	+14.6%	+15.6%	—
Expenses Selling,General and Administrative	+8.9%	+10.3%	+10.3%	+9.8%	+8.5%	+7.5%	+6.2%	+10.7%	+9.3%	—
Expenses Depreciation and Amortization	+1.2%	+0.1%	+4.1%	+2.2%	+0.3%	-0.8%	-2.3%	+8.4%	+4.6%	—
Expenses Share Based Compensation	+14.3%	+14.1%	+13.6%	+12.8%	+11.5%	+11.2%	+9.4%	+13.3%	+9.5%	—
Expenses Restructuring and Asset Impairment	—	—	—	—	—	—	—	—	—	—
Expenses Operating Expenses	—	—	—	—	—	—	—	—	—	—
Other Income Expense Gross Profit	+13.2%	+14.0%	+15.5%	+17.7%	+19.3%	+14.3%	+12.3%	+29.1%	+46.6%	—
Other Income Expense Operating Income	+16.2%	+17.6%	+19.9%	+23.9%	+26.2%	+19.3%	+15.9%	+44.5%	+82.9%	—
Other Income Expense Interest Income	—	—	—	—	—	—	—	—	—	—
Other Income Expense Other Income/expense	+62.3%	+55.0%	+52.0%	+16.0%	+49.1%	+26.5%	+113.6%	+194.7%	+387.5%	—
Other Income Expense Income Before Tax	+18.5%	+19.1%	+21.2%	+24.8%	+27.5%	+19.9%	+17.5%	+47.8%	+89.6%	—
Income Tax Income Tax Expense	+25.6%	+16.3%	+16.7%	+24.2%	+24.8%	+17.0%	+24.5%	+115.7%	+1.7%	—
net Income net Income	+16.9%	+19.5%	+21.8%	+24.9%	+27.9%	+20.4%	+16.3%	+32.9%	+104.5%	—
net Income Comprehensive Income	+17.1%	+19.8%	+22.0%	+25.3%	+28.4%	+19.8%	+16.3%	+32.3%	+110.2%	—
Earnings Per Share Basic Eps	+21.1%	+23.9%	+26.7%	+29.9%	+32.9%	+26.1%	+22.8%	+38.7%	+110.3%	—
Earnings Per Share Diluted Eps	+21.2%	+24.0%	+26.8%	+30.0%	+33.0%	+26.3%	+22.9%	+38.6%	+111.0%	—
Earnings Per Share Weighted Average Shares Basic	-3.5%	-3.6%	-3.9%	-3.9%	-3.8%	-4.6%	-5.4%	-4.3%	-3.1%	—
Earnings Per Share Weighted Average Shares Diluted	-3.5%	-3.6%	-3.9%	-3.9%	-3.8%	-4.6%	-5.4%	-4.1%	-2.9%	—

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 10 years

Operating cash flow $8.0B

Investing cash flow $-2.8B

Financing cash flow $-6.0B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	+16.9%	+19.5%	+21.8%	+24.9%	+27.9%	+20.4%	+16.3%	+32.9%	+104.5%	—
Operating Activities Depreciation and Amortization	+1.2%	+0.1%	+4.1%	+2.2%	+0.3%	-0.8%	-2.3%	+8.4%	+4.6%	—
Operating Activities Stock Based Compensation	—	—	—	—	—	—	—	—	—	—
Operating Activities Deferred Income Taxes	—	—	—	—	—	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	-15.8%	—	—	+30.5%	+33.0%	+2.4%	-50.1%	+19.0%	+29.2%	—
Operating Activities Other Non Cash Items	—	—	—	—	—	—	—	—	—	—
Operating Activities net Cash From Operating Activities	+13.4%	+16.4%	+19.1%	+13.2%	+16.2%	+10.3%	+8.2%	+21.5%	+47.7%	—
Investing Activities Capital Expenditures	+27.5%	+21.4%	+23.5%	+20.8%	+21.4%	+13.6%	+20.3%	+56.8%	+36.4%	—
Investing Activities Business Acquisitions	+6.8%	—	+6.6%	+73.8%	-5.6%	+60.8%	+20.5%	-38.8%	+325.0%	—
Investing Activities Purchases of Investments	+17.8%	+12.6%	+2.7%	+1.2%	+7.6%	-0.6%	+11.3%	+22.2%	+249.4%	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities Proceeds From Debt	—	—	—	—	—	—	—	—	—	—
Financing Activities Repayment of Debt	-5.9%	—	—	—	—	+24.3%	—	—	-83.0%	—
Financing Activities Repurchase of Common Stock	+11.1%	+9.2%	+2.1%	+21.6%	+14.7%	-23.5%	+8.3%	+67.1%	-38.1%	—
Financing Activities Dividends Paid	+13.5%	+13.1%	+11.9%	+11.9%	+13.5%	+15.4%	+20.2%	+16.7%	-3.2%	—
Financing Activities Proceeds From Stock Issuance	+12.8%	+13.5%	+14.5%	+14.6%	+14.7%	+18.6%	+18.1%	+18.7%	+10.2%	—
Financing Activities Tax Withholding On Stock Based Compensation	+13.9%	+18.1%	+12.8%	+23.0%	+18.2%	+22.3%	+3.8%	+45.9%	+62.3%	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation Cash At Beginning of Period	+8.9%	+11.3%	+8.8%	-8.5%	+8.0%	+12.0%	-2.8%	+0.5%	+47.1%	—
Cash Reconciliation Cash At End of Period	+8.9%	+11.3%	+8.8%	-8.5%	+8.0%	+12.0%	-2.8%	+0.5%	+47.1%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+48.7%	+47.5%	+46.7%	+46.5%	+47.3%	+44.7%	+43.7%	+45.0%	+45.0%	+41.7%
Operating margin	+29.2%	+28.9%	+28.9%	+30.2%	+29.9%	+25.4%	+22.9%	+26.9%	+26.8%	+19.9%
Net margin	+24.7%	+26.4%	+25.9%	+25.3%	+25.5%	+21.0%	+18.5%	+18.2%	+23.9%	+15.9%
FCF margin	+20.1%	+27.6%	+28.6%	+17.9%	+20.7%	+19.7%	+19.2%	+18.9%	+23.4%	+21.4%
Growth
Revenue CAGR (3y)	+3.2%	+5.6%	+15.5%	+20.9%	+11.3%	+5.4%	+10.5%	—	—	—
Returns
ROE	+34.3%	+37.8%	+41.9%	+53.5%	+48.1%	+34.2%	+32.9%	+44.4%	+36.5%	+23.2%
ROA	+19.3%	+20.9%	+22.3%	+24.4%	+22.8%	+16.2%	+14.2%	+17.2%	+18.1%	+11.8%
ROIC	+31.9%	+40.4%	+43.4%	+42.7%	+47.2%	+35.5%	+26.7%	+35.6%	+36.6%	+25.1%
Liquidity
Current ratio	2.61x	2.51x	2.60x	2.16x	2.54x	3.00x	2.30x	2.70x	3.14x	2.30x
Quick ratio	1.55x	1.57x	1.53x	1.09x	1.57x	1.86x	1.27x	1.47x	1.79x	1.57x
Leverage
D/E	0.78x	0.81x	0.88x	1.19x	1.11x	1.11x	1.32x	1.58x	1.05x	0.99x
Interest coverage	—	—	32.16x	34.16x	29.19x	18.19x	14.14x	19.19x	19.88x	13.88x
Efficiency
Asset turnover	0.78x	0.79x	0.86x	0.96x	0.89x	0.77x	0.77x	0.95x	0.76x	0.74x
Cash conversion cycle	+165d	+169d	+181d	+196d	+164d	+170d	+175d	+159d	+138d	+148d

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Applied Materials

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