Reading the annual reports…

First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.

APPLIED MATERIALS INC /DE (AMAT) financial health, profit and balance sheet · Scorvest

AMAT · Nasdaq · United States · Semiconductors & Related Devices

APPLIED MATERIALS INC /DE

Santa Clara, CA · Fiscal year ends in October · Figures in USD

+ Add to watchlist Compare

In shortAPPLIED MATERIALS INC /DE is profitable, generates cash and holds more cash than debt, with revenue growing (+4.4% last year).

Financial health

Strong

Built from five areas over the last five annual reports. Tap an area to see the figures behind it.

How is this score calculated? →

Profitability100

Operating marginShare of each sale left after running the business, before interest and tax.	29.2%	100/100
Net marginShare of each sale left as profit after every cost, interest and tax.	24.7%	100/100
Return on equityProfit earned on the money shareholders put in. Above 15% is strong.	35.5%	100/100
Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge.	23.3%	100/100

Weight in the score: 25%

Balance sheet99

Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash.	2.61×	100/100
Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted.	0.32×	94/100
Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable.	Net cash	100/100
Interest coverageHow many times operating profit covers interest. Below 2 is risky.	30.81×	100/100
Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress.	10.17	100/100

Weight in the score: 25%

Cash generation88

Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt.	20.1%	100/100
Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy.	0.81×	64/100
Years with positive free cash flow (last 5)	5 of 5	100/100

Weight in the score: 20%

Stability91
Profitable years (last 5) 5 of 5 100/100
Years of revenue decline (last 5) 0 of 5 100/100
Revenue growth volatility 13.4% 62/100
Operating margin volatility 0.6% 100/100
Weight in the score: 20%
Growth43
Revenue growth, 3-year average 3.2% 35/100
EPS growth, 3-year average 5.2% 51/100
Weight in the score: 10%

Profitable years (last 5)	5 of 5	100/100
Years of revenue decline (last 5)	0 of 5	100/100
Revenue growth volatility	13.4%	62/100
Operating margin volatility	0.6%	100/100

Revenue growth, 3-year average	3.2%	35/100
EPS growth, 3-year average	5.2%	51/100

Fiscal year 2025 · change vs prior year

Revenue: $28.4B; ▲ 4.4%
Net income: $7.0B; ▼ 2.5%
Free cash flow: $5.7B; ▼ 23.9%
Operating margin: 29.2%; +0.3 pts
Cash & investments: $8.6B; –
Total debt: $6.5B; ▲ 4.8%
Diluted EPS: $8.66; ▲ 0.6%
Return on equity: 35.5%; –

Trends

Annual figures as reported. Hover a bar or point for the exact value.

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Revenue and net income

RevenueNet income

Margins

Statements

The last 5 fiscal years from the company's annual reports.

USD millions; negative values in parentheses.

Fiscal year	FY21	FY22	FY23	FY24	FY25
Revenue	23,063	25,785	26,517	27,176	28,368
Cost of revenue	12,149	13,792	14,133	14,279	14,560
Gross profit	10,914	11,993	12,384	12,897	13,808
Research & development	2,485	2,771	3,102	3,233	3,570
Selling, general & admin	–	–	1,628	1,797	1,768
Operating income	6,889	7,788	7,654	7,867	8,289
Interest expense	236	228	238	247	269
Pre-tax income	6,771	7,599	7,716	8,152	9,271
Income tax	883	1,074	860	975	2,273
Net income	5,888	6,525	6,856	7,177	6,998
Diluted EPS	$6.40	$7.44	$8.11	$8.61	$8.66
Diluted shares (millions)	919	877	845	834	808

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Quarterly results

The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.

The last 8 quarters of APPLIED MATERIALS INC /DE are included in the Investor plan. Try free for 7 days →

Risk checks

Altman Z'' score

10.17 Safe zone

Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.

Piotroski F-score

6/9

Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.

Positive net income: passed
Positive operating cash flow: passed
Return on assets improved: failed
Cash flow exceeds net income: passed
Long-term debt ratio fell: failed
Current ratio improved: passed
No share dilution: passed
Gross margin improved: passed
Asset turnover improved: failed

Sources

10-QPeriod ending Jul 26, 2026Filed Aug 20, 2026Open the report ↗
10-QPeriod ending Apr 26, 2026Filed May 21, 2026Open the report ↗
10-QPeriod ending Jan 25, 2026Filed Feb 19, 2026Open the report ↗
10-KPeriod ending Oct 26, 2025Filed Dec 12, 2025Open the report ↗
10-QPeriod ending Jul 27, 2025Filed Aug 21, 2025Open the report ↗
10-QPeriod ending Apr 27, 2025Filed May 22, 2025Open the report ↗
10-QPeriod ending Jan 26, 2025Filed Feb 20, 2025Open the report ↗
10-KPeriod ending Oct 27, 2024Filed Dec 13, 2024Open the report ↗