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APPLIED MATERIALS INC /DE (AMAT) USD

Semiconductor manufacturing equipment and services for chip fabrication worldwide.

At a glance: strengths & risks
✓Revenue growing (+25% y/y, Q3 2026)✓Profit growing (+43% y/y, Q3 2026)✓Margins improving (32%→35%, Q3 2026)✓Net cash balance sheet✗Pricier than own history (EV/EBITDA 30.7 vs avg 18.0)

Sector: Technology

US_AMAT

Price chart

377.24 USDDay 0.44%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
377.24 USD · 0.44%
Market cap
299.2 bn USD

Growth

Δ revenue y/y
24.8%
Δ EBITDA y/y
37.5%

Multiples

P/E (LTM)
32.3x
3y avg: 21.7x
P/B (FY)
14.7x
P/E (ann.)
29.5x
EV/EBITDA (LTM)
30.7x
3y avg: 18.0x
EV/EBITDA (ann.)
23.0x

Cash return

Dividend yield
0.5%
FCF yield (LTM)
2.0%

Value creation

fundamental value/yr, % of market cap
Value created / year
+20.0%
↓ details

Liquidity

Daily turnover (US listing)
2.6 bln USD

Shares: yahoo_fundamentals_timeseries/AMAT

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-07-26Q3 2026 (3M)OK9.1
y/y 24.8%
3.1
y/y 37.7%
0.2
y/y 33.6%
3.2
y/y 37.5%
2.5
y/y 42.7%
3.0-0.743.5
y/y 27.2%
25.6
y/y 31.4%
13.7%-2.7SEC EDGAR
2026-04-26Q2 2026 (3M)OK7.9
y/y 11.4%
2.5
y/y 16.3%
0.1
y/y 31.1%
2.7
y/y 17.0%
2.8
y/y 31.3%
0.8-0.640.3
y/y 19.8%
23.9
y/y 26.1%
49.2%0.2Link
2026-01-25Q1 2026 (3M)OK7.0
y/y -2.1%
1.8
y/y -15.8%
0.1
y/y 21.0%
2.0
y/y -14.1%
2.0
y/y 71.0%
1.7-0.637.6
y/y 12.9%
21.7
y/y 16.6%
38.5%-1.3Link
2025-10-26Q4 2025 (3M)OK6.8
y/y -3.5%
1.7
y/y -16.3%
0.1
y/y 3.6%
1.8
y/y -15.3%
1.9
y/y 9.6%
2.8-0.836.3
y/y 5.5%
20.4
y/y 7.4%
35.1%-1.5Link
2025-07-27Q3 2025 (3M)OK7.3
y/y 7.7%
2.2
y/y 15.0%
0.1
y/y 18.9%
2.3
y/y 15.2%
1.8
y/y 4.3%
2.6-0.634.2
y/y 1.7%
19.5
y/y 3.5%
12.3%0.4Link
2025-04-27Q2 2025 (3M)OK7.1
y/y 6.8%
2.2
y/y 13.4%
0.1
y/y 7.3%
2.3
y/y 13.1%
2.1
y/y 24.1%
1.6-0.533.6
y/y 5.3%
19.0
y/y 4.2%
45.5%0.6Link
2025-01-26Q1 2025 (3M)OK7.2
y/y 6.8%
2.2
y/y 10.6%
0.1
y/y 15.4%
2.3
y/y 10.8%
1.2
y/y -41.3%
0.9-0.433.3
y/y 5.7%
18.6
y/y 6.9%
25.2%-0.9Link
2024-10-27Q4 2024 (3M)OK7.0
y/y 4.8%
2.0
y/y 3.8%
0.1
y/y -15.4%
2.2
y/y 2.6%
1.7
y/y -13.6%
2.6-0.434.4
y/y 12.0%
19.0
y/y 16.2%
37.9%-2.2Link
2024-07-28Q3 2024 (3M)OK6.8
y/y 5.5%
1.9
y/y 7.8%
0.1
y/y -30.1%
2.0
y/y 5.1%
1.7
y/y 9.3%
2.4-0.333.6
y/y 10.6%
18.8
y/y 24.8%
12.3%-2.4Link
2024-04-28Q2 2024 (3M)OK6.6
y/y 0.2%
1.9
y/y 0.1%
0.1
y/y -25.6%
2.0
y/y -1.6%
1.7
y/y 9.3%
1.4-0.331.9
y/y 9.8%
18.2
y/y 28.8%
38.7%-1.6Link
2024-01-28Q1 2024 (3M)OK6.7
y/y -0.5%
2.0
y/y -0.2%
0.1
y/y -24.2%
2.1
y/y -1.5%
2.0
y/y 17.6%
2.3-0.231.5
y/y 12.8%
17.4
y/y 29.9%
47.8%-1.5Link
2023-10-29Q4 2023 (3M)OK6.7
y/y —
2.0
y/y —
0.1
y/y —
2.1
y/y —
2.0
y/y —
1.6-0.330.7
y/y —
16.3
y/y —
43.6%-0.9Link
2023-07-30Q3 2023 (3M)OK6.4
y/y —
1.8
y/y —
0.1
y/y —
1.9
y/y —
1.6
y/y —
2.6-0.330.4
y/y —
15.1
y/y —
14.2%-0.4Link
2023-04-30Q2 2023 (3M)OK6.6
y/y —
1.9
y/y —
0.1
y/y —
2.0
y/y —
1.6
y/y —
2.3-0.329.1
y/y —
14.1
y/y —
45.7%1.0Link
2023-01-29Q1 2023 (3M)OK6.7
y/y —
2.0
y/y —
0.1
y/y —
2.1
y/y —
1.7
y/y —
2.3-0.328.0
y/y —
13.4
y/y —
—2.1Link

Net debt structure (leases included, IFRS 16) 2026-07-26

Short-term debt (incl. ST leases)2 618
Long-term debt (incl. LT leases)5 927
− Cash & equivalents9 000
Net debt-455

Net debt / LTM EBITDA: -0.0x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

010 00020 00030 0002023 FY2024 FY2025 FY

Year-over-year change

0%2%4%6%2023 FY2024 FY2025 FY

Cash flow

Operating and investing cash flow (OCF + ICF) ($ mln)

02 0004 0006 0008 0002023 FY2024 FY2025 FY

Net debt / cash ($ mln)

-2 500-2 000-1 500-1 000-50002023 FY2024 FY2025 FY

Profit and cash

Profit is cash-backed
In a typical year of 2021–2025 operating cash flow came to 1.14x of reported net profit; after capex, 0.81x.
year20212022202320242025
cash flow / profit0.92x0.83x1.27x1.21x1.14x
accruals, % of assets1.7%4.2%-6.0%-4.4%-2.6%
Last twelve months (to 2026-07-26): 0.91x of profit came back as operating cash flow.
net debt / EBITDA -0.2x · EBIT covers interest 30.8x · capex 2.8x of depreciation · dividends 17% of free cash flow · share count -3.2% a year
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: +20.0%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-07-26 vs 2025-07-27)
= (3 226 − 2 346) × 3.00
2 637
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (299 151 + -2 651) ÷ 9 668
30.0x — capped at 30x
3. Target multiple
(Current EV/EBITDA + 12) ÷ 2
= (30.0 + 12) ÷ 2
21.0x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= 3 099 + 730 + 737 − 131
4 566
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (2 637 × 21.0 + 4 566) ÷ 299 151
+20.0%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • equity issuance measured by share-count dilution at market, not the cash line

Revenue growth & acceleration

Growth steady →
Last-year revenue growth +4% vs +2% the year before — a +1.9 pp move. 3-year CAGR +3%.
revenue growth by year: 2023 +3% · 2024 +2% · 2025 +4%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — daily history

Current 32.8x · 3-year 75th pct 31.0x

EV/EBITDA3-year 75th pct

Peer comparison

Group: Technology. Every peer trades on the same market, so no adjustment is needed.

CompanyMarketCap, $bnEV/EBITDA
MICRON TECHNOLOGY INCUS963.68.5x
ORACLE CORPUS379.615.1x
INTERNATIONAL BUSINESS MACHINES CORPUS239.218.8x
MICROSOFT CORPUS3883.620.4x
NVIDIA CORPUS5157.625.7x
CISCO SYSTEMS, INC.US413.926.7x
TEXAS INSTRUMENTS INCUS255.227.9x
LAM RESEARCH CORPUS288.028.1x
Broadcom Inc.US1568.728.8x
Apple Inc.US5144.330.1x
KLA CORPUS193.232.7x
Arista Networks, Inc.US218.246.5x
Group median27.3x
Group average25.8x
This companyUS297.830.7x

Group median 27.3x; this company 30.7x — a 12% premium.

Group average 25.8x; against the average this company is at a 19% premium.

At the adjusted group median the market cap would be -11% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 20.5x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.7x, India 18.7x, Indonesia 5.4x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-23; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-08-200.53 USDEx-dividend: 0.53 USD per sharePaidYahoo Finance (ex-div)
2026-05-210.53 USDEx-dividend: 0.53 USD per sharePaidYahoo Finance (ex-div)
2026-02-190.46 USDEx-dividend: 0.46 USD per sharePaidYahoo Finance (ex-div)
2025-11-200.46 USDEx-dividend: 0.46 USD per sharePaidYahoo Finance (ex-div)
2025-08-210.46 USDEx-dividend: 0.46 USD per sharePaidYahoo Finance (ex-div)
2025-05-220.46 USDEx-dividend: 0.46 USD per sharePaidYahoo Finance (ex-div)
2025-02-200.4 USDEx-dividend: 0.4 USD per sharePaidYahoo Finance (ex-div)
2024-11-210.4 USDEx-dividend: 0.4 USD per sharePaidYahoo Finance (ex-div)
2024-08-220.4 USDEx-dividend: 0.4 USD per sharePaidYahoo Finance (ex-div)
2024-05-220.4 USDEx-dividend: 0.4 USD per sharePaidYahoo Finance (ex-div)
2024-02-210.32 USDEx-dividend: 0.32 USD per sharePaidYahoo Finance (ex-div)
2023-11-220.32 USDEx-dividend: 0.32 USD per sharePaidYahoo Finance (ex-div)
2023-08-230.32 USDEx-dividend: 0.32 USD per sharePaidYahoo Finance (ex-div)
2023-05-240.32 USDEx-dividend: 0.32 USD per sharePaidYahoo Finance (ex-div)
2023-02-220.26 USDEx-dividend: 0.26 USD per sharePaidYahoo Finance (ex-div)
2022-11-230.26 USDEx-dividend: 0.26 USD per sharePaidYahoo Finance (ex-div)
2022-08-240.26 USDEx-dividend: 0.26 USD per sharePaidYahoo Finance (ex-div)
2022-05-250.26 USDEx-dividend: 0.26 USD per sharePaidYahoo Finance (ex-div)
2022-02-220.24 USDEx-dividend: 0.24 USD per sharePaidYahoo Finance (ex-div)
2021-11-240.24 USDEx-dividend: 0.24 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of APPLIED MATERIALS INC /DE (AMAT) — from primary filings.

Frequently asked questions

What is APPLIED MATERIALS INC /DE (AMAT)'s P/E ratio?
APPLIED MATERIALS INC /DE (AMAT) trades at a P/E of 32.3x (price to trailing 12-month earnings).
What is APPLIED MATERIALS INC /DE (AMAT)'s EV/EBITDA?
APPLIED MATERIALS INC /DE (AMAT) trades at 30.7x EV/EBITDA.
What is APPLIED MATERIALS INC /DE (AMAT)'s P/B ratio?
APPLIED MATERIALS INC /DE (AMAT) trades at a P/B of 14.7x.
What is APPLIED MATERIALS INC /DE (AMAT)'s dividend yield?
APPLIED MATERIALS INC /DE (AMAT)'s trailing 12-month dividend yield is 0.5%.
What is APPLIED MATERIALS INC /DE (AMAT)'s return on equity (ROE)?
APPLIED MATERIALS INC /DE (AMAT)'s ROE is 13.7%.
What is APPLIED MATERIALS INC /DE (AMAT)'s market capitalization?
APPLIED MATERIALS INC /DE (AMAT)'s market cap is 299.2 bn USD.

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