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Technology · Semiconductors · United States · Updated May 11, 12:43pm
$444.53
Price
$352.8B
Market Cap
36,000
Employees
1.65
Beta
Gary E. Dickerson
CEO
Business Description
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 Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits. This segment also offers various technologies, including epitaxy, ion implantation, oxidation/nitridation, rapid thermal processing, physical vapor deposition, chemical vapor deposition, chemical mechanical planarization, electrochemical deposition, atomic layer deposition, etching, and selective deposition and removal, as well as metrology and inspection tools. The Applied Global Services segment provides integrated solutions to optimize equipment and fab performance and productivity comprising spares, upgrades, services, remanufactured earlier generation equipment, and factory automation software for semiconductor, display, and other products. The Display and Adjacent Markets segment offers products for manufacturing liquid crystal displays; organic light-emitting diodes; and other display technologies for TVs, monitors, laptops, personal computers, electronic tablets, smart phones, and other consumer-oriented devices. The company operates in the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe. Applied Materials, Inc. was incorporated in 1967 and is headquartered in Santa Clara, California.
Business History
Price Overview
Last updated: May 11, 2026 12:43pm (just now)$445.43
+9.99 (+2.30%)
Day Range
$437.27 – $447.85
52-Week Range
$153.47 – $447.85
50-Day MA
$373.04
200-Day MA
$274.98
Volume
1,412.00
Analyst Price Targets
Low
$290.00
Consensus
$437.10
High
$517.00
(145 analysts)
Share Structure
Outstanding
793,610,000.00
Float
790,228,427.00
Free Float
99.6%
High free float
— 99.6% of shares trade freely, ~0.4% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
45.06
Stock Price: $444.53
EPS (Diluted): 8.71
EPS (Diluted): 8.71
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
9.11
Stock Price: $444.53
Total Equity: $20.42B
Shares: 808,000,000
Total Equity: $20.42B
Shares: 808,000,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
35.75
Market Cap: $352.78B
Total Debt: $6.56B
Cash: $7.24B
EBITDA: $9.65B
Total Debt: $6.56B
Cash: $7.24B
EBITDA: $9.65B
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$185.8B
Market Cap: $352.78B
Total Debt: $6.56B
Cash: $7.24B
Total Debt: $6.56B
Cash: $7.24B
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
48.7%
Gross Profit: $13.81B
Revenue: $28.37B
Revenue: $28.37B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
29.2%
Operating Income: $8.29B
Revenue: $28.37B
Revenue: $28.37B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
24.7%
Net Income: $7.00B
Revenue: $28.37B
Revenue: $28.37B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
38.9%
Net Income: $7.00B
Total Equity: $20.42B
Total Equity: $20.42B
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
22.6%
Operating Income: $8.29B
Tax Rate: 24.5%
Equity: $20.42B
Total Debt: $6.56B
Cash: $7.24B
Tax Rate: 24.5%
Equity: $20.42B
Total Debt: $6.56B
Cash: $7.24B
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
2.61
Current Assets: $20.88B
Current Liabilities: $8.00B
Current Liabilities: $8.00B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.32
Short-Term Debt: $100.00M
Long-Term Debt: $6.46B
Total Debt: $6.56B
Total Equity: $20.42B
Long-Term Debt: $6.46B
Total Debt: $6.56B
Total Equity: $20.42B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$35.11
Revenue: $28.37B
Shares: 808,000,000
Shares: 808,000,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$25.27
Total Equity: $20.42B
Shares: 808,000,000
Shares: 808,000,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$7.05
Operating CF: $7.96B
CapEx: -$2.26B
Shares: 808,000,000
CapEx: -$2.26B
Shares: 808,000,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.7%
Last Dividend: N/A
Stock Price: $444.53
Stock Price: $444.53
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $7.00B
Net Income: $7.00B
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares AMAT against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $23.1B | $25.8B | $26.5B | $27.2B | $28.4B |
| Cost of Revenue | $12.1B | $13.8B | $14.1B | $14.3B | $14.6B |
| Gross Profit | $10.9B | $12.0B | $12.4B | $12.9B | $13.8B |
| Operating Expenses | $4.0B | $4.2B | $4.7B | $5.0B | $5.5B |
| Operating Income | $6.9B | $7.8B | $7.7B | $7.9B | $8.3B |
| Net Income | $5.9B | $6.5B | $6.9B | $7.2B | $7.0B |
| EBITDA | $7.4B | $8.3B | $8.5B | $8.8B | $9.7B |
| EPS | $6.47 | $7.49 | $8.16 | $8.68 | $8.71 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $5.0B | $2.0B | $6.1B | $8.0B | $7.2B |
| Total Current Assets | $16.1B | $15.9B | $19.1B | $21.2B | $20.9B |
| Total Assets | $25.8B | $26.7B | $30.7B | $34.4B | $36.3B |
| Current Liabilities | $6.3B | $7.4B | $7.4B | $8.5B | $8.0B |
| Long-Term Debt | $5.5B | $5.5B | $5.5B | $5.5B | $6.5B |
| Total Liabilities | $13.6B | $14.5B | $14.4B | $15.4B | $15.9B |
| Total Equity | $12.2B | $12.2B | $16.3B | $19.0B | $20.4B |
| Retained Earnings | $32.2B | $37.9B | $43.7B | $49.7B | $55.2B |
Cash Flow (Annual)
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $5.4B | $5.4B | $8.7B | $8.7B | $8.0B |
| Capital Expenditure | -$668.0M | -$787.0M | -$1.1B | -$1.2B | -$2.3B |
| Free Cash Flow | $4.8B | $4.6B | $7.6B | $7.5B | $5.7B |
| Acquisitions (net) | -$12.0M | -$441.0M | -$25.0M | $0 | $4.0M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$3.8B | -$6.1B | -$2.2B | -$3.8B | -$4.9B |
| Net Change in Cash | -$365.0M | -$3.0B | $4.1B | $1.9B | -$781.0M |
Analyst Estimates (Annual)
| Metric | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Revenue |
$31.6B $30.8B – $33.1B
|
$38.4B $36.9B – $41.3B
|
$43.4B $43.4B – $43.4B
|
$44.1B $41.9B – $49.2B
|
| EBITDA |
$11.4B $11.1B – $12.0B
|
$13.8B $13.3B – $14.9B
|
$15.7B $15.7B – $15.7B
|
$15.9B $15.1B – $17.8B
|
| Net Income |
$9.0B $8.7B – $9.3B
|
$11.4B $10.3B – $12.7B
|
$13.1B $9.5B – $21.1B
|
$14.4B $13.4B – $16.5B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +11.8% | +2.8% | +2.5% | +4.4% |
| Gross Profit Growth | +9.9% | +3.3% | +4.1% | +7.1% |
| Operating Income Growth | +13.0% | -1.7% | +2.8% | +5.4% |
| Net Income Growth | +10.8% | +5.1% | +4.7% | -2.5% |
| EBITDA Growth | +11.8% | +2.4% | +4.0% | +9.8% |
Insider Trading (Recent)
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-04-01 | Sanders Adam | F-InKind | 125.00 | $353.80 | $44,225 |
| 2026-03-12 | Karsner Alexander | A-Award | 741.00 | $0.00 | $0 |
| 2026-03-12 | BRUNER JUDY | A-Award | 741.00 | $0.00 | $0 |
| 2026-03-12 | Iannotti Thomas J | A-Award | 741.00 | $0.00 | $0 |
| 2026-03-12 | CHEN XUN | A-Award | 741.00 | $0.00 | $0 |
| 2026-03-12 | ANDERSON JAMES ROBERT | A-Award | 741.00 | $0.00 | $0 |
| 2026-03-12 | MARCH KEVIN P | A-Award | 741.00 | $0.00 | $0 |
| 2026-03-12 | MCGREGOR SCOTT A | A-Award | 741.00 | $0.00 | $0 |
| 2026-03-12 | Borkar Rani | A-Award | 741.00 | $0.00 | $0 |
| 2026-03-12 | DE GEUS AART | A-Award | 741.00 | $0.00 | $0 |
| 2026-02-25 | BRUNER JUDY | S-Sale | 2,500.00 | $391.71 | $979,275 |
| 2026-02-23 | BRUNER JUDY | S-Sale | 2,458.00 | $376.49 | $925,412 |
| 2026-02-23 | BRUNER JUDY | S-Sale | 1,511.00 | $377.89 | $570,992 |
| 2026-02-24 | Sanders Adam | S-Sale | 534.00 | $379.16 | $202,471 |
| 2026-02-17 | Hill Brice | S-Sale | 5,000.00 | $361.21 | $1.8M |
| 2025-11-21 | Raja Prabu G. | G-Gift | 45.00 | $0.00 | $0 |
| 2026-01-01 | Deane Timothy M | F-InKind | 1,891.00 | $256.99 | $485,968 |
| 2025-12-31 | CHEN XUN | A-Award | 187.00 | $0.00 | $0 |
| 2026-01-01 | Sanders Adam | F-InKind | 324.00 | $256.99 | $83,265 |
| 2025-12-19 | DICKERSON GARY E | F-InKind | 130,843.00 | $256.41 | $33.5M |
Dividend History (Last 20)
| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-05-21 | $0.53 | 2026-03-12 | 2026-05-21 | 2026-06-11 |
| 2026-02-19 | $0.46 | 2025-12-11 | 2026-02-19 | 2026-03-12 |
| 2025-11-20 | $0.46 | 2025-09-11 | 2025-11-20 | 2025-12-11 |
| 2025-08-21 | $0.46 | 2025-06-10 | 2025-08-21 | 2025-09-11 |
| 2025-05-22 | $0.46 | 2025-03-10 | 2025-05-22 | 2025-06-12 |
| 2025-02-20 | $0.40 | 2024-12-13 | 2025-02-20 | 2025-03-13 |
| 2024-11-21 | $0.40 | 2024-09-12 | 2024-11-21 | 2024-12-12 |
| 2024-08-22 | $0.40 | 2024-06-13 | 2024-08-22 | 2024-09-12 |
| 2024-05-22 | $0.40 | 2024-03-08 | 2024-05-23 | 2024-06-13 |
| 2024-02-21 | $0.32 | 2023-12-07 | 2024-02-22 | 2024-03-14 |
| 2023-11-22 | $0.32 | 2023-09-07 | 2023-11-24 | 2023-12-14 |
| 2023-08-23 | $0.32 | 2023-06-08 | 2023-08-24 | 2023-09-14 |
| 2023-05-24 | $0.32 | 2023-03-13 | 2023-05-25 | 2023-06-15 |
| 2023-02-22 | $0.26 | 2022-12-12 | 2023-02-23 | 2023-03-16 |
| 2022-11-23 | $0.26 | 2022-09-08 | 2022-11-25 | 2022-12-15 |
| 2022-08-24 | $0.26 | 2022-06-09 | 2022-08-25 | 2022-09-15 |
| 2022-05-25 | $0.26 | 2022-03-11 | 2022-05-26 | 2022-06-16 |
| 2022-02-22 | $0.24 | 2021-12-02 | 2022-02-23 | 2022-03-16 |
| 2021-11-24 | $0.24 | 2021-09-02 | 2021-11-26 | 2021-12-16 |
| 2021-08-25 | $0.24 | 2021-06-10 | 2021-08-26 | 2021-09-16 |
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27