Applied Materials, Inc. provides materials engineering solutions, equipment, services, and software to the semiconductor and related industries in the United States, China, Korea, Taiwan, Japan, Southeast Asia, Europe, and internationally. The company operates through Semiconductor Systems and Applied Global Services (AGS) segments. The Semiconductor Systems segment includes semiconductor capital equipment to enable materials engineering steps, including etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation. The AGS segment offers integrated solutions to optimize equipment and fab performance and productivity comprising spares, upgrades, services, and 200 millimeter and other equipment and factory automation software for semiconductor and other products. It serves manufacturers of semiconductor wafers and chips, and other electronic devices. Applied Materials, Inc. was incorporated in 1967 and is headquartered in Santa Clara, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $28.4B | $10.0B | $7.0B | $5.7B | 34.3% | 4.4% | -2.5% |
| 2024 | $27.2B | $8.8B | $7.2B | $7.5B | 37.8% | 2.5% | 4.7% |
| 2023 | $26.5B | $8.5B | $6.9B | $7.6B | 41.9% | 2.8% | 5.1% |
| 2022 | $25.8B | $8.3B | $6.5B | $4.6B | 53.5% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 25,785 | 26,517 | 27,176 | 28,368 |
| Operating Revenue | - | 25,785 | 26,517 | 27,176 | 28,368 |
| Cost Of Revenue | - | 13,792 | 14,133 | 14,279 | 14,560 |
| Gross Profit | - | 11,993 | 12,384 | 12,897 | 13,808 |
| Operating Expense | - | 4,209 | 4,730 | 5,030 | 5,338 |
| Research And Development | - | 2,771 | 3,102 | 3,233 | 3,570 |
| Selling General And Administration | - | 1,438 | 1,628 | 1,797 | 1,768 |
| Total Expenses | - | 18,001 | 18,863 | 19,309 | 19,898 |
| Operating Income | - | 7,784 | 7,654 | 7,867 | 8,470 |
| Total Operating Income As Reported | - | 7,788 | 7,654 | 7,867 | 8,289 |
| EBITDA | - | 8,271 | 8,469 | 8,791 | 9,975 |
| Normalized EBITDA | - | 8,267 | 8,469 | 8,791 | 10,156 |
| EBIT | - | 7,827 | 7,954 | 8,399 | 9,540 |
| Interest Income | - | 39 | 300 | 532 | 1,251 |
| Interest Expense | - | 228 | 238 | 247 | 269 |
| Net Interest Income | - | -189 | 62 | 285 | 982 |
| Other Income Expense | -311 | 4 | - | - | -181 |
| Interest Income Non Operating | - | 39 | 300 | 532 | 1,251 |
| Interest Expense Non Operating | - | 228 | 238 | 247 | 269 |
| Net Non Operating Interest Income Expense | - | -189 | 62 | 285 | 982 |
| Pretax Income | - | 7,599 | 7,716 | 8,152 | 9,271 |
| Tax Provision | - | 1,074 | 860 | 975 | 2,273 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.56 | 0 | 0 | -44.34 |
| Net Income Continuous Operations | - | 6,525 | 6,856 | 7,177 | 6,998 |
| Net Income From Continuing And Discontinued Operation | - | 6,525 | 6,856 | 7,177 | 6,998 |
| Net Income From Continuing Operation Net Minority Interest | - | 6,525 | 6,856 | 7,177 | 6,998 |
| Net Income | - | 6,525 | 6,856 | 7,177 | 6,998 |
| Net Income Common Stockholders | - | 6,525 | 6,856 | 7,177 | 6,998 |
| Net Income Including Noncontrolling Interests | - | 6,525 | 6,856 | 7,177 | 6,998 |
| Normalized Income | - | 6,521.56 | 6,856 | 7,177 | 7,134.66 |
| Diluted NI Availto Com Stockholders | - | 6,525 | 6,856 | 7,177 | 6,998 |
| Basic Average Shares | - | 871 | 840 | 827 | 804 |
| Diluted Average Shares | - | 877 | 845 | 834 | 808 |
| Reconciled Depreciation | - | 444 | 515 | 392 | 435 |
| Reconciled Cost Of Revenue | - | 13,792 | 14,133 | 14,279 | 14,560 |
| Total Unusual Items | - | 4 | 0 | 0 | -181 |
| Total Unusual Items Excluding Goodwill | - | 4 | 0 | 0 | -181 |
| Special Income Charges | - | 4 | 0 | 0 | -181 |
| Other Special Charges | 154 | - | - | - | - |
| Restructuring And Mergern Acquisition | - | -4 | 0 | 0 | 181 |
| General And Administrative Expense | - | 735 | 852 | 961 | 910 |
| Other Gand A | - | 735 | 852 | 961 | 910 |
| Selling And Marketing Expense | - | 703 | 776 | 836 | 858 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Applied Materials, Inc.this co. | AMAT | $398.3B | 56.92β discount | 19.51 | 34.3% | 39.91 |
| Cisco Systems, Inc. | CSCO | $512.4B | 50.33 | 10.94 | 21.7% | 33.82 |
| Lam Research Corporation | LRCX | $420.7B | 78.52 | 42.66 | 54.3% | 64.21 |
| Arm Holdings plc | ARM | $420.2B | 464.85 | 50.72 | 10.9% | 361.22 |
| Palantir Technologies Inc. | PLTR | $339.7B |
| - |
| - |
| - |
| - |
| - |
| - |
| 209.04 |
| 45.98 |
| 22.0% |
| 235.05 |
| International Business Machines Corporation | IBM | $283.6B | 26.78 | 8.69 | 32.4% | 19.36 |
| KLA Corporation | KLAC | $278.4B | 68.54 | 59.33 | 86.6% | 52.88 |
| Texas Instruments Incorporated | TXN | $277.9B | 55.57 | 17.08 | 30.7% | 34.99 |
| Marvell Technology, Inc. | MRVL | $276.8B | 103.67 | 19.35 | 18.7% | 61.45 |
| Peer Median | - | 73.53 | 31.00 | 26.4% | 57.16 | |