AMAT Q3 2023 Earnings Report — Applied Materials, Inc. Revenue & Financial Results | Market Cap Arena

Applied Materials, Inc.AMAT

Q3 2023 Earnings

Reported August 24, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2023	Q2 2023	Q3 2022	QoQ Change	YoY Change
Revenue	$6.4B	$6.6B	$6.5B	-3.1%	-1.5%
Op. Income	$1.8B	$1.9B	$1.9B	-5.7%	-6.3%
Gross Margin	46.3%	46.7%	46.1%	-0.3pp	0.2pp
Net Margin	24.3%	23.8%	24.6%	0.5pp	-0.4pp
EPS (Diluted)	$1.85	$1.86	$1.85	-0.5%	-0.0%
Free Cash Flow	$2.3B	$2.0B	$1.3B	14.3%	84.9%

Revenue Flow

Item	Amount
REVENUE	$6.4B
Cost of Revenue	$3.4B
GROSS PROFIT	$3.0B
R&D Expenses	$767M
Selling & Marketing	$193M
General & Administrative	$214M
SG&A Expenses	$407M
Other Expenses	$0
Operating Expenses	$1.2B
Cost & Expenses	$4.6B
OPERATING INCOME	$1.8B
Interest Income	$64M
Interest Expense	$60M
Other Income/Expenses	$4M
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$246M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$136M
EBIT	$1.9B
EBITDA	$2.0B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$6.4B
Cost of Revenue	$3.4B
GROSS PROFIT	$3.0B
R&D Expenses	$767M
Selling & Marketing	$193M
General & Administrative	$214M
SG&A Expenses	$407M
Other Expenses	$0
Operating Expenses	$1.2B
Cost & Expenses	$4.6B
OPERATING INCOME	$1.8B
Interest Income	$64M
Interest Expense	$60M
Other Income/Expenses	$4M
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$246M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$136M
EBIT	$1.9B
EBITDA	$2.0B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$136M
Stock-Based Compensation	$114M
Deferred Income Tax	-$38M
Other Non-Cash Items	$15M
Change in Working Capital	$796M
OPERATING CASH FLOW	$2.6B
Capital Expenditure	-$255M
Acquisitions (Net)	-$316M
Purchases of Investments	-$465M
Sales/Maturities of Investments	$302M
Other Investing Activities	$309M
NET CASH FROM INVESTING	-$425M
Net Debt Issuance	-$106M
Common Stock Repurchased	-$439M
Common Dividends Paid	-$268M
Other Financing Activities	-$37M
NET CASH FROM FINANCING	-$720M
FREE CASH FLOW	$2.3B
Net Change in Cash	$1.4B

Balance Sheet

Item	Amount
Cash & Equivalents	$6.0B
Short-Term Investments	$510M
Net Receivables	$5.4B
Inventory	$5.8B
Other Current Assets	$674M
TOTAL CURRENT ASSETS	$18.9B
PP&E (Net)	$3.1B
Goodwill	$3.7B
Intangible Assets	$305M
Long-Term Investments	$2.2B
Tax Assets	$1.8B
Other Non-Current Assets	$421M
TOTAL NON-CURRENT ASSETS	$11.5B
TOTAL ASSETS	$30.4B
Account Payables	$1.4B
Short-Term Debt	$199M
Deferred Revenue	$3.5B
Other Current Liabilities	$853M
TOTAL CURRENT LIABILITIES	$8.2B
Long-Term Debt	$5.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.3B
TOTAL NON-CURRENT LIABILITIES	$7.1B
TOTAL LIABILITIES	$15.3B
Common Stock	$8M
Additional Paid-In Capital	$8.9B
Retained Earnings	$42.0B
Treasury Stock	-$35.6B
Accum. Other Comp. Income	-$223M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$15.1B
Minority Interest	$0
TOTAL EQUITY	$15.1B
TOTAL LIABILITIES & EQUITY	$30.4B
Total Debt	$6.1B
Net Debt	$74M