Applied Materials is the largest semiconductor wafer fabrication equipment manufacturer in the world. It has a broad portfolio spanning nearly every corner of the WFE ecosystem.
It is a $403B technology company. Revenue grew 7.8% over the last year, it keeps 30¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 43.4× earnings — near the highest of its own history.
- Website
- appliedmaterials.com
- Location
- Santa Clara, CA
- Employees
- 36 500
- Sector
- Technology
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong profitability, health, quality and moat; Valuation lags behind.
Valuation10
- P/E vs own history95th pct · 0/25
- FCF yield1.4% · 5/25
- P/S13.0x · 5/25
- EV/EBITDA41.6x · 0/25
Growth63
- Revenue CAGR5.3% · 12/25
- Net income CAGR4.4% · 6/25
- EPS CAGR ~5Y17.2% · 20/25
- Fwd implied growth66.2% · 25/25
Profitability100
- ROIC38.0% · 25/25
- ROE40.4% · 25/25
- Net margin30.1% · 25/25
- Operating margin29.6% · 25/25
Health75
- Altman Zn/a · 0/25
- Current ratio2.42 · 25/25
- Interest coverage42.8x · 25/25
- Net cash / debtNet cash · 25/25
Quality87
- Piotroski F7/9 · 22/25
- Beneish M-2.62 · 25/25
- FCF conversion61% · 15/25
- Margin stabilityσ 3.8% · 25/25
Moat95
- ROIC >12% years10/10 yrs · 25/25
- Median gross margin45.9% · 20/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 15.9% · 25/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2026ProductApplied Materials announced plans to invest $5 billion in India over the following decade under…
- FY2024FinancialBest year on record$7.18B net income
- FY2020FinancialBecame debt-freecash now exceeds total debt
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $10B$10.8B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- Sep 24, 2013AcquisitionApplied Materials then announced a planned merger with Tokyo Electron on September 24, 2013
- 2009AcquisitionApplied Materials acquired Semitool Inc. in December 2009, and announced its acquisition of Varian Semiconductor in…
- 2008AcquisitionApplied Materials purchased Baccini, an Italian company and designer of tools used in manufacturing…
- Jun 27, 2001AcquisitionApplied Materials acquired Israeli company Oramir Semiconductor Equipment Ltd., a supplier of…
- 2000AcquisitionEtec Systems, Inc. was purchased
- 1996AcquisitionApplied Materials acquired two Israeli companies for an aggregate amount of $285 million: Opal…
- 1987ProductApplied introduced a chemical vapor deposition (CVD) machine called the Precision 5000
- 1984MilestoneApplied Materials became the first U.S. semiconductor equipment manufacturer to open its own technology…
- 1972IPOMcNeilly and others, Applied Materials went public in 1972 on the National Association of Securities Dealers…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (49.4%)
- Strongly profitable — 30.1% net margin
- Strong cash conversion — FCF is 18.2% of revenue
- Net cash position after subtracting debt from cash
- Interest covered 42.8× by operating earnings
Watch-outs
Nothing stands out as a concern in the available data.
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+7.8% YoY
- Profitable — makes more than it spends$9.27B TTM
- Profit growing — earnings are higher than last year+5.2% YoY
- Generates cash — cash left after running and investing$5.62B TTM
- Debt under control — could handle its obligationsmore cash than debt
- Established company — not a micro-cap — lower blow-up risk$403B market cap
- Not printing shares — share count not ballooning — you keep your slice-12.5% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distresshealth score 50/100
- Pays a dividend — returns cash to shareholdersyield 0.38%
- Valuation not extreme — price not wildly above earningsP/E 43.4
Peer comparisonApplied Materials Inc vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| AMAT this company | $402.5B | 43.4 | +7.8% | 30.1% | Mixed |
| NVDA Nvidia Corp | $5.5T | 28.6 | +83.4% | 63.7% | Mixed |
| AAPL Apple Inc. | $4.9T | 38.1 | +14.2% | 27.6% | Strong |
| GOOGL Alphabet Inc. | $4.3T | 17.6 | +20.1% | 54.8% | Mixed |
| MSFT Microsoft Corp | $4.0T | 29.7 | +17.8% | 40.3% | Strong |
| SPCX Space Exploration Technologies Corp. | $2.1T | — | +33.2% | -34.0% | Strained |
| META Meta Platforms, Inc. | $1.8T | 26.9 | +27.7% | 29.8% | Mixed |
Head-to-head: AMAT vs NVDA · AMAT vs AAPL · AMAT vs GOOGL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/AMAT
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of AMAT on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $507.20 · market cap $403B.