AMAT

MKT CAP:$332B

Applied Materials, Inc.

Market Cap

$332B

Technology·Semiconductors·🇺🇸 United States·NASDAQ

Technology·Semiconductors·🇺🇸·NASDAQ

Stock Price

$418.80+$149.93 (+55.76%)

Apr 24, 2026

Company Details

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 Adja...

CEO

Gary E. Dickerson

IPO Date

Mar 17, 1980

Website

www.appliedmaterials.com

Key Metrics TTM

Revenue

$28.6B

+5.2% YoY

Net Income

$7.1B

EPS (Diluted)

$8.83

Free Cash Flow

$4.7B

Revenue / Share

$35.77

Gross Margin

48.9%

Operating Margin

30.3%

Net Margin

24.9%

FCF Margin

16.4%

P/S

11.6x

P/E

46.6x

Earnings Reports

Q1 2026

Feb 19, 2026

$7.0B-2.1%EPS $2.54

FY 2025

Dec 12, 2025

$28.4B+4.4%EPS $8.66

Q3 2025

Aug 21, 2025

$7.3B+7.7%EPS $2.21

Q2 2025

May 22, 2025

$7.1B+6.8%EPS $2.63

Q1 2025

Feb 20, 2025

$7.2B+6.8%EPS $1.45

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$6.3B	$3.0B	$2.0B
Q2 22	$6.2B	$2.9B	$1.9B
Q3 22	$6.5B	$3.0B	$1.9B
Q4 22	$6.7B	$3.1B	$2.0B
Q1 23	$6.7B	$3.1B	$2.0B
Q2 23	$6.6B	$3.1B	$1.9B
Q3 23	$6.4B	$3.0B	$1.8B
Q4 23	$6.7B	$3.2B	$2.0B
Q1 24	$6.7B	$3.2B	$2.0B
Q2 24	$6.6B	$3.2B	$1.9B
Q3 24	$6.8B	$3.2B	$1.9B
Q4 24	$7.0B	$3.3B	$2.0B
Q1 25	$7.2B	$3.5B	$2.2B
Q2 25	$7.1B	$3.5B	$2.2B
Q3 25	$7.3B	$3.6B	$2.2B
Q1 26	$7.0B	$3.4B	$2.1B

Valuation

Quarter	P/S	P/E
Q1 22	5.0x	18.5x
Q2 22	3.9x	14.4x
Q3 22	3.6x	13.7x
Q4 22	2.9x	11.4x
Q1 23	3.5x	14.1x
Q2 23	3.5x	14.6x
Q3 23	4.8x	19.7x
Q4 23	4.1x	15.9x
Q1 24	5.3x	19.5x
Q2 24	6.4x	23.2x
Q3 24	6.3x	22.7x
Q4 24	5.6x	21.0x
Q1 25	5.1x	22.3x
Q2 25	4.3x	18.0x
Q3 25	5.3x	22.1x
Q1 26	8.9x	35.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$2.7B	$2.5B
Q2 22	$415M	$205M
Q3 22	$1.5B	$1.3B
Q4 22	$857M	$634M
Q1 23	$2.3B	$2.0B
Q2 23	$2.3B	$2.0B
Q3 23	$2.6B	$2.3B
Q4 23	$1.6B	$1.2B
Q1 24	$2.3B	$2.1B
Q2 24	$1.4B	$1.1B
Q3 24	$2.4B	$2.1B
Q4 24	$2.6B	$2.2B
Q1 25	$925M	$544M
Q2 25	$1.6B	$1.1B
Q3 25	$2.6B	$2.0B
Q1 26	$1.7B	$1.0B

Capital Expenditures

Quarter	CapEx
Q1 22	$144M
Q2 22	$210M
Q3 22	$210M
Q4 22	$223M
Q1 23	$287M
Q2 23	$255M
Q3 23	$255M
Q4 23	$309M
Q1 24	$229M
Q2 24	$257M
Q3 24	$297M
Q4 24	$407M
Q1 25	$381M
Q2 25	$510M
Q3 25	$584M
Q1 26	$646M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+21.5%	+10.7%
Q2 22	+11.9%	+8.7%
Q3 22	+5.2%	+9.9%
Q4 22	+10.2%	+15.7%
Q1 23	+7.5%	+11.0%
Q2 23	+6.2%	+8.5%
Q3 23	-1.5%	+0.6%
Q4 23	-0.4%	-0.1%
Q1 24	-0.5%	-0.6%
Q2 24	+0.2%	+0.3%
Q3 24	+5.5%	+4.6%
Q4 24	+4.8%	+5.2%
Q1 25	+6.8%	+5.3%
Q2 25	+6.8%	+4.2%
Q3 25	+7.7%	+4.8%
Q1 26	-0.5%	-1.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$118M	1.9%
Q2 22	$101M	1.6%
Q3 22	$95M	1.5%
Q4 22	$99M	1.5%
Q1 23	$148M	2.2%
Q2 23	$113M	1.7%
Q3 23	$114M	1.8%
Q4 23	$115M	1.7%
Q1 24	$170M	2.5%
Q2 24	$134M	2.0%
Q3 24	$132M	1.9%
Q4 24	$141M	2.0%
Q1 25	$195M	2.7%
Q2 25	$159M	2.2%
Q3 25	$158M	2.2%
Q1 26	$207M	3.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$654M	$166M	$167M
Q2 22	$686M	$174M	$173M
Q3 22	$705M	$197M	$180M
Q4 22	$726M	$198M	$183M
Q1 23	$771M	$207M	$197M
Q2 23	$775M	$214M	$194M
Q3 23	$767M	$214M	$193M
Q4 23	$789M	$217M	$192M
Q1 24	$754M	$276M	$207M
Q2 24	$785M	$247M	$209M
Q3 24	$836M	$222M	$205M
Q4 24	$858M	$216M	$215M
Q1 25	$859M	$256M	$206M
Q2 25	$893M	$207M	$216M
Q3 25	$901M	$204M	$224M
Q1 26	$928M	$189M	$222M

Revenue Segments

Quarter	Applied Global Services	Display and Adjacent Markets	Semiconductor Systems	Corporate And Reconciling Items
Q1 22	$1.3B	$366M	$4.6B	—
Q2 22	$1.4B	$381M	$4.5B	—
Q3 22	$1.4B	$333M	$4.7B	—
Q4 22	$1.4B	$251M	$5.0B	—
Q1 23	$1.4B	$167M	$5.2B	—
Q2 23	$1.4B	$168M	$5.0B	—
Q3 23	$1.5B	$235M	$4.7B	—
Q4 23	$1.5B	$298M	$4.9B	—
Q1 24	$1.5B	$244M	$4.9B	—
Q2 24	$1.5B	$179M	$4.9B	—
Q3 24	$1.6B	$251M	$4.9B	—
Q4 24	$1.6B	$211M	$5.2B	—
Q1 25	$1.6B	$183M	$5.4B	$33M
Q2 25	$1.6B	$259M	$5.3B	$20M
Q3 25	$1.6B	$263M	$5.4B	$12M
Q1 26	$1.6B	—	$5.1B	$312M

Revenue by Geography

Quarter	China	Europe	Japan	Korea, Republic Of	Southeast Asia	Taiwan, Province Of China	United States
Q1 22	$2.0B	$281M	$561M	$1.1B	$225M	$1.2B	$847M
Q2 22	$2.1B	$489M	$407M	$968M	$138M	$1.4B	$702M
Q3 22	$1.8B	$529M	$438M	$1.2B	$270M	$1.5B	$725M
Q4 22	$1.3B	$375M	$606M	$1.1B	$451M	$2.1B	$830M
Q1 23	$1.1B	$573M	$456M	$1.3B	$253M	$2.0B	$1.1B
Q2 23	$1.4B	$477M	$460M	$1.6B	$157M	$1.4B	$1.1B
Q3 23	$1.7B	$661M	$478M	$988M	$180M	$1.3B	$1.0B
Q4 23	$3.0B	$441M	$681M	$745M	$168M	$922M	$803M
Q1 24	$3.0B	$410M	$565M	$1.2B	$186M	$559M	$759M
Q2 24	$2.8B	$289M	$453M	$988M	$213M	$1.0B	$853M
Q3 24	$2.2B	$339M	$555M	$1.1B	$428M	$1.1B	$1.1B
Q4 24	$2.1B	$405M	$581M	$1.2B	$314M	$1.3B	$1.2B
Q1 25	$2.2B	$330M	$540M	$1.7B	$286M	$1.2B	$917M
Q2 25	$1.8B	$252M	$572M	$1.6B	$135M	$2.0B	$808M
Q3 25	$2.5B	$160M	$713M	$1.2B	$195M	$1.8B	$683M
Q1 26	$2.1B	$221M	$525M	$1.5B	$335M	$1.7B	$656M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$3.3B	$591M	$3.9B
Q3 22	$3.0B	$592M	$3.5B
Q4 22	$2.0B	$586M	$2.6B
Q1 23	$3.5B	$500M	$4.0B
Q2 23	$4.6B	$510M	$5.1B
Q3 23	$6.0B	$510M	$6.5B
Q4 23	$6.1B	$737M	$6.9B
Q1 24	$6.9B	$638M	$7.5B
Q2 24	$7.1B	$472M	$7.6B
Q3 24	$8.3B	$815M	$9.1B
Q4 24	$8.0B	$1.4B	$9.5B
Q1 25	$6.3B	$1.9B	$8.2B
Q2 25	$6.2B	$578M	$6.7B
Q3 25	$5.4B	$1.6B	$7.0B
Q4 25	$7.2B	$1.3B	$8.6B
Q1 26	$7.2B	$1.3B	$8.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	897M	-1.1%	-3.0%
Q2 22	883M	-1.6%	-4.7%
Q3 22	869M	-1.6%	-5.3%
Q4 22	859M	-1.2%	-5.3%
Q1 23	849M	-1.2%	-5.4%
Q2 23	847M	-0.2%	-4.1%
Q3 23	842M	-0.6%	-3.1%
Q4 23	842M	0.0%	-2.0%
Q1 24	837M	-0.6%	-1.4%
Q2 24	836M	-0.1%	-1.3%
Q3 24	833M	-0.4%	-1.1%
Q4 24	828M	-0.6%	-1.7%
Q1 25	819M	-1.1%	-2.2%
Q2 25	815M	-0.5%	-2.5%
Q3 25	811M	-0.5%	-2.6%
Q1 26	799M	-1.5%	-3.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$232.3K	27K
Q2 22	$231.3K	27K
Q3 22	$241.5K	27K
Q4 22	$204.5K	33K
Q1 23	$204.2K	33K
Q2 23	$200.9K	33K
Q3 23	$194.7K	33K
Q4 23	$197.7K	34K
Q1 24	$197.3K	34K
Q2 24	$195.5K	34K
Q3 24	$199.4K	34K
Q4 24	$197.3K	36K
Q1 25	$200.7K	36K
Q2 25	$198.9K	36K
Q3 25	$204.5K	36K
Q1 26	$192.1K	37K

Revenue / Employee