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Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. AMAT Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Applied Materials (AMAT)

Market Price (9/17/2025): $173.65 | Market Cap: $138.6 Bil
Sector: Information Technology | Industry: Semiconductor Materials & Equipment

Applied Materials (AMAT)

Market Price (9/17/2025): $173.65
Market Cap: $138.6 Bil
Sector: Information Technology
Industry: Semiconductor Materials & Equipment

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.9%		 Weak multi-year price returns
2Y Excs Rtn is -25%		 
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 30%		  
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%, CFO LTM is 7.7 Bil, FCF LTM is 5.8 Bil		  
3 Low stock price volatility
Vol 12M is 45%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.9%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 30%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%, CFO LTM is 7.7 Bil, FCF LTM is 5.8 Bil
3 Low stock price volatility
Vol 12M is 45%
4 Weak multi-year price returns
2Y Excs Rtn is -25%

Market Valuation

 9/17/252024202320222021
Share Price CYE$173.65$161.33$159.53$94.98$152.06
Market Cap CYE ($ Bil)138.6132.5133.181.0136.6
Total Debt ($ Bil)6.86.66.05.85.8
Total Cash ($ Bil)7.09.56.92.65.5
Enterprise Value ($ Bil)138.3139.1139.186.8142.4
Valuation Ratios     
P/S TTM4.85.05.13.36.2
P/EBIT TTM15.116.017.110.820.4
P/E TTM20.318.719.913.024.3
Sector Ratios     
P/S TTM (Sector)3.23.12.82.55.0
P/EBIT TTM (Sector)4.0-0.0-0.1-0.51.7
P/E TTM (Sector)-0.4-0.3-0.4-0.50.0
 9/17/2520242023
Share Price CYE$173.65$161.33$159.53
Market Cap CYE ($ Bil)138.6132.5133.1
Total Debt ($ Bil)6.86.66.0
Total Cash ($ Bil)7.09.56.9
Enterprise Value ($ Bil)138.3139.1139.1
Valuation Ratios   
P/S TTM4.85.05.1
P/EBIT TTM15.116.017.1
P/E TTM20.318.719.9
Sector Ratios   
P/S TTM (Sector)3.23.12.8
P/EBIT TTM (Sector)4.0-0.0-0.1
P/E TTM (Sector)-0.4-0.3-0.4

Market Cap Chart

Business Description

Applied Materials, Inc. provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
AMAT Return43%84%-38%68%1%8%190%
Peers Return44%50%-23%50%-4%29%209%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: TXN, MCHP, LRCX, AMAT, KLAC. See AMAT Returns vs. Peers.
[3] 2025 data is for the year up to 9/16/2025 (YTD)

Interactive Breakdown

Applied Materials Interactive Breakdown Analysis

Better Bets than Applied Materials (AMAT)

 AMATBetter Performance than AMAT
MetricValueIndustry (Semiconductor Materials & Equi)
Rev Chg LTM6.6%LRCX (23.7%), KLAC (23.9%), NVMI (43.7%), AEIS (8.5%), ONTO (15.5%)
Rev Chg 3Y Avg4.4%KLAC (10.4%), ENTG (10.9%), NVMI (17.9%), MKSI (8.4%), ENPH (5.4%)
Op Mgn LTM30.1%LRCX (32.0%), KLAC (41.2%)
CFO/Rev LTM26.9%LRCX (33.5%), KLAC (33.6%), TER (28.0%), NVMI (28.5%), ENPH (27.8%)
FCF/Rev LTM20.4%LRCX (29.4%), KLAC (30.8%), NVMI (25.5%), ONTO (23.0%), ENPH (25.2%)
Total Yield5.9%PLAB (8.2%)
 AMATBetter Performance than AMAT
MetricValueAll Other Sectors
Rev Chg LTM6.6%GOOGL (13.1%), AMZN (10.9%), META (19.4%), JPM (8.2%), LLY (36.8%)
Rev Chg 3Y Avg4.4%GOOGL (10.2%), AMZN (11.3%), META (13.0%), TSLA (12.9%), BRK-B (16.6%)
Op Mgn LTM30.1%GOOGL (32.7%), META (42.9%), LLY (43.0%), V (66.5%), MA (58.0%)
CFO/Rev LTM26.9%GOOGL (36.0%), META (56.4%), V (60.4%), MA (53.3%), ABBV (33.1%)
FCF/Rev LTM20.4%META (30.7%), V (56.8%), MA (49.2%), NFLX (20.4%), ABBV (31.3%)
Total Yield5.9%BRK-B (5.9%), JPM (6.6%), XOM (9.7%), JNJ (8.2%), BAC (7.2%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Applied Materials Earnings Notes  
2AMAT Rallied 7.3% In A Month. Have You Fully Evaluated The Risk?Return 
3AMAT Near Crucial Support Level - Buy Signal AheadActionable 
4How Does AMAT Stack Up Against Its Peers?Peer Comparison 
5Better Bet Than AMAT Stock: Pay Less Than Applied Materials To Get More From ACN, ADBE   
6Better Bet Than AMAT Stock: Pay Less Than Applied Materials To Get More From ACN, ADBE   
7Better Bet Than AMAT Stock: Pay Less Than Applied Materials To Get More From ACMR Actionable 
8AMAT Dip Buy Analysis  
9AMAT YTD Stock Return Of -4.1% Outperforms PXLW by 20% and Underperforms MCHP by -1.3%Return 
10Applied Materials vs. Texas Instruments: With Return Forecast Of 14%, Applied Materials Is A Better BetPeer Comparison 
11ARTICLES  
12Better Bet Than Teradyne Stock: Pay Less To Get More From LRCX, AMAT August 25th, 2025
13What’s Happening With Applied Materials Stock? August 21st, 2025
14AMAT Lost 14% In A Day. Do You Buy Or Wait? August 16th, 2025
15S&P 500 Movers | Winners: UNH, FSLR, ENPH | Losers: AMAT, KLAC, LRCX August 16th, 2025
16Market Movers | Winners: PGEN, RUN, UP | Losers: NUTX, GTN-A, AMAT August 16th, 2025
Title
0DASHBOARDS
1Better Bet Than Teradyne Stock: Pay Less To Get More From LRCX, AMAT
2What’s Happening With Applied Materials Stock?
3AMAT Lost 14% In A Day. Do You Buy Or Wait?
4S&P 500 Movers | Winners: UNH, FSLR, ENPH | Losers: AMAT, KLAC, LRCX
5Market Movers | Winners: PGEN, RUN, UP | Losers: NUTX, GTN-A, AMAT
6ARTICLES
7Applied Materials Earnings Notes
8AMAT Rallied 7.3% In A Month. Have You Fully Evaluated The Risk?
9AMAT Near Crucial Support Level - Buy Signal Ahead
10How Does AMAT Stack Up Against Its Peers?
11Better Bet Than AMAT Stock: Pay Less Than Applied Materials To Get More From ACN, ADBE 
12Better Bet Than AMAT Stock: Pay Less Than Applied Materials To Get More From ACN, ADBE 
13Better Bet Than AMAT Stock: Pay Less Than Applied Materials To Get More From ACMR 
14AMAT Dip Buy Analysis
15AMAT YTD Stock Return Of -4.1% Outperforms PXLW by 20% and Underperforms MCHP by -1.3%
16Applied Materials vs. Texas Instruments: With Return Forecast Of 14%, Applied Materials Is A Better Bet

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Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1BDSXBiodesix1313.2%-78.6%
2CLSDClearside Biomedical954.0%-74.9%
3SDOTSadot624.1%-79.4%
4WLDSWearable Devices498.0%-30.0%
5CHEKCheck-Cap285.6%154.6%
6ATCHAtlasClear275.9%-91.0%
7HSDTHelius Medical Technologies262.5%-95.6%
8OPIOffice Properties Income Trust261.7%-13.4%
9FGIFGI Industries156.8%145.2%
10AIREReAlpha Tech154.0%-56.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1NAKAKindly MD-81.4% 
2ATYRaTyr Pharma-79.7%-70.2%
3LGCLLucas GC-73.6%-77.1%
4EPSMEpsium Enterprise-70.1% 
5BNGOBionano Genomics-59.4%-89.7%
6FAASDigiAsia-58.5%-87.2%
7QMMMQMMM-57.5%6775.0%
8VCIGVCI Global-56.9%-99.1%
9YYGHYY-56.6%-78.5%
10XAGELongevity Health-55.5%-86.1%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Applied Materials

Financials

AMATTXNMCHPLRCXKLACMedian
NameApplied .Texas In.Microchi.Lam Rese.KLA  
Mkt Price173.54177.6364.45120.47990.57173.54
Mkt Cap138.5161.334.8153.5130.8138.5
Rev LTM28,61316,6754,23618,43612,15616,675
Op Inc LTM8,6235,8182085,9015,0145,818
FCF LTM5,8231,5037265,4143,7423,742
FCF 3Y Avg6,4572,0602,0184,7823,3673,367
CFO LTM7,7056,4397976,1734,0826,173
CFO 3Y Avg7,7886,7522,2825,3353,6875,335

Growth & Margins

AMATTXNMCHPLRCXKLACMedian
NameApplied .Texas In.Microchi.Lam Rese.KLA  
Rev Chg LTM6.6%3.6%-35.7%23.7%23.9%6.6%
Rev Chg 3Y Avg4.4%-4.9%-13.0%3.5%10.4%3.5%
Rev Chg Q7.7%16.4%-13.4%33.6%23.6%16.4%
QoQ Delta Rev Chg LTM1.9%3.9%-3.8%7.6%5.2%3.9%
Op Mgn LTM30.1%34.9%4.9%32.0%41.2%32.0%
Op Mgn 3Y Avg29.4%39.5%23.8%30.2%38.8%30.2%
QoQ Delta Op Mgn LTM0.5%0.6%-3.6%1.2%1.1%0.6%
CFO/Rev LTM26.9%38.6%18.8%33.5%33.6%33.5%
CFO/Rev 3Y Avg28.5%39.3%32.1%31.5%34.1%32.1%
FCF/Rev LTM20.4%9.0%17.1%29.4%30.8%20.4%
FCF/Rev 3Y Avg23.7%11.7%28.5%28.3%31.1%28.3%

Valuation

AMATTXNMCHPLRCXKLACMedian
NameApplied .Texas In.Microchi.Lam Rese.KLA  
Mkt Cap138.5161.334.8153.5130.8138.5
P/S4.89.78.28.310.88.3
P/EBIT15.126.1319.125.026.426.1
P/E20.332.0-234.228.632.228.6
P/CFO18.025.043.624.932.025.0
Total Yield5.9%6.2%0.3%4.2%3.8%4.2%
Dividend Yield1.0%3.0%0.7%0.7%0.7%0.7%
FCF Yield 3Y Avg4.4%1.2%4.3%4.3%3.6%4.3%
D/E0.00.10.20.00.00.0
Net D/E-0.00.10.1-0.00.00.0

Returns

AMATTXNMCHPLRCXKLACMedian
NameApplied .Texas In.Microchi.Lam Rese.KLA  
1M Rtn7.3%-8.7%-1.9%21.1%13.5%7.3%
3M Rtn-0.0%-9.5%-4.1%30.0%11.2%-0.0%
6M Rtn13.7%0.6%20.7%56.1%40.2%20.7%
12M Rtn-6.5%-7.8%-13.8%60.7%35.8%-6.5%
3Y Rtn100.7%17.6%5.1%203.8%204.6%100.7%
1M Excs Rtn4.9%-11.1%-4.4%18.6%11.0%4.9%
3M Excs Rtn-10.9%-19.7%-14.3%19.5%1.7%-10.9%
6M Excs Rtn-4.1%-16.2%1.9%37.8%22.1%1.9%
12M Excs Rtn-22.4%-24.7%-30.9%44.9%18.3%-22.4%
3Y Excs Rtn22.4%-48.6%-59.4%114.4%122.5%22.4%

Comparison Analyses

Title
0How Does AMAT Stack Up Against Its Peers?
1Applied Materials vs. Texas Instruments: With Return Forecast Of 14%, Applied Materials Is A Better Bet
2MU or AMAT - With 14% Return Forecast, AMAT Probably Deserves Your Money
3Applied Materials vs. Qualcomm: With Return Forecast Of 15%, Applied Materials Is A Better Bet
4MCHP or AMAT - With 14% Return Forecast, AMAT Probably Deserves Your Money
5Applied Materials vs. Nike: With Return Forecast Of 40%, Applied Materials Is A Better Bet
6Applied Materials vs. Costco: With Return Forecast Of 48%, Costco Is A Better Bet
7Applied Materials vs. Eli Lilly and Company: With Return Forecast Of 40%, Applied Materials Is A Better Bet
8Applied Materials vs. Union Pacific: With Return Forecast Of 31%, Applied Materials Is A Better Bet
9Applied Materials vs. McDonald's: With Return Forecast Of 31%, Applied Materials Is A Better Bet

Financials

$ Mil | FY: 10/272025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q4
Period End7/27/20254/27/20251/26/202510/27/20247/28/20244/28/20241/28/202410/29/20237/30/20234/30/20231/29/202310/30/2022
Filing Date8/21/20255/22/20252/20/202512/13/20248/22/20245/23/20242/27/202412/15/20238/24/20235/26/20232/23/202312/16/2022
Key Financials Quarterly            
Total Revenue7,3027,1007,1667,0456,7786,6466,7076,7236,4256,6306,7396,749
Ebitda2,7422,4932,2882,0712,1182,1492,4532,3602,0022,0402,1402,129
Operating Income2,2332,1692,1752,0461,9421,9121,9671,9711,8021,9111,9701,994
Net Income1,7792,1371,1851,7311,7051,7222,0192,0041,5601,5751,7171,591
EPS2.232.641.462.112.062.082.432.401.861.872.031.86
Key Financials TTM            
Total Revenue TTM28,61328,08927,63527,17626,85426,50126,48526,51726,54326,63826,25325,785
Ebitda TTM9,5948,9708,6268,7919,0808,9648,8558,5428,3118,3418,3348,278
Operating Income TTM8,6238,3328,0757,8677,7927,6527,6517,6547,6777,7997,7827,784
Net Income TTM6,8326,7586,3437,1777,4507,3057,1586,8566,4436,4896,4506,525
Growth Rates Quarterly            
Total Revenue Growth7.7%6.8%6.8%4.8%5.5%0.2%-0.5%-0.4%-1.5%6.2%7.5%10.2%
EBITDA Growth29.5%16.0%-6.7%-12.2%5.8%5.3%14.6%10.9%-1.5%0.3%2.7%-1.8%
Operating Income Growth15.0%13.4%10.6%3.8%7.8%0.1%-0.2%-1.2%-6.3%0.9%-0.1%-0.9%
Net Income Growth4.3%24.1%-41.3%-13.6%9.3%9.3%17.6%26.0%-2.9%2.5%-4.2%-7.1%
Margins Quarterly            
EBITDA Margin37.6%35.1%31.9%29.4%31.2%32.3%36.6%35.1%31.2%30.8%31.8%31.5%
Operating Income Margin30.6%30.5%30.4%29.0%28.7%28.8%29.3%29.3%28.0%28.8%29.2%29.5%
Net Income Margin24.4%30.1%16.5%24.6%25.2%25.9%30.1%29.8%24.3%23.8%25.5%23.6%
Cash & Debt            
Total Cash7,0146,7478,2139,4719,1037,5577,4926,8696,5355,0984,0472,581
Total Debt6,7636,6706,5886,6066,6715,9985,9895,9996,0996,1226,1185,829
Net Debt / (Cash)-251-77-1,625-2,865-2,432-1,559-1,503-870-4361,0242,0713,248
Cash Flows Quarterly            
FCF from Operations2,6341,5719252,5752,3851,3922,3251,5552,5832,2922,270857
Cash Flows TTM            
FCF from Operations TTM7,7057,4567,2778,6777,6577,8558,7558,7008,0026,8885,0115,399
Returns to Shareholders Quarterly            
Dividends368325326329331266266268268219220223
Share Repurchases1,0561,6701,3181,4428618207007004398002501,500
Return on Invested Capital (ROIC) Quarterly            
ROIC---------661.6%333.1%200.5%
Return on Invested Capital (ROIC) TTM            
ROIC TTM---------654.8%317.4%205.8%

Price Behavior

AMAT Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta1.451.331.671.491.591.70
Up Beta1.211.361.651.651.571.69
Down Beta-0.580.801.151.351.341.41
Up Capture114%56%151%148%215%1087%
Bmk +ve Days10223571142415
Stock +ve Days9193362121378
Down Capture358%281%234%135%143%108%
Bmk -ve Days11192754106334
Stock -ve Days12233064128373

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity22,434,407
Short Interest: % Change Since 815202537.3%
Average Daily Volume7,407,575
Days-to-Cover Short Interest3.03
Basic Shares Quantity798,000,000
Short % of Basic Shares2.8%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/14/2025-14.1%-15.1% 
5/15/2025-5.3%-7.9%1.3%
2/13/2025-8.2%-6.5%-15.4%
11/14/2024-9.2%-5.3%-8.7%
8/15/2024-1.9%-5.3%-11.3%
2/15/20246.3%5.2%7.1%
11/16/2023-4.0%-2.7%3.8%
8/17/20233.7%3.8%2.2%
...
SUMMARY STATS   
# Positive91112
# Negative141211
Median Positive3.9%2.7%5.2%
Median Negative-3.9%-5.2%-12.1%
Max Positive9.0%11.0%27.2%
Max Negative-14.1%-15.1%-21.9%

SEC Filings

Expand for More

Report DateFiling DateFiling
7312025821202510-Q 7/27/2025
4302025522202510-Q 4/27/2025
1312025220202510-Q 1/26/2025
103120241213202410-K 10/27/2024
7312024822202410-Q 7/28/2024
4302024523202410-Q 4/28/2024
1312024227202410-Q 1/28/2024
103120231215202310-K 10/29/2023
7312023824202310-Q 7/30/2023
4302023526202310-Q 4/30/2023
1312023223202310-Q 1/29/2023
103120221216202210-K 10/30/2022
7312022825202210-Q 7/31/2022
4302022526202210-Q 5/1/2022
1312022224202210-Q 1/30/2022
103120211217202110-K 10/31/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0DICKERSON GARY EPresident and CEO4072025Buy137.2948,5816,669,685235,402,788Form
1Sanders AdamCorp. Controller & CAO4032025Sell144.8345065,174880,132Form
2Sanders AdamCorp. Controller & CAO2252025Sell172.7227146,8081,119,085Form

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