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 |
| 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 |
| Operating Income | - | 7,784 | 7,654 | 7,867 | 8,470 |
| EBITDA | - | 8,271 | 8,469 | 8,791 | 9,975 |
| EBIT | - | 7,827 | 7,954 | 8,399 | 9,540 |
| Pretax Income | - | 7,599 | 7,716 | 8,152 | 9,271 |
| Tax Provision | - | 1,074 | 860 | 975 | 2,273 |
| Net Income | - | 6,525 | 6,856 | 7,177 | 6,998 |
| Net Income Common Stockholders | - | 6,525 | 6,856 | 7,177 | 6,998 |
| Total Expenses | - | 18,001 | 18,863 | 19,309 | 19,898 |
| Interest Expense | - | 228 | 238 | 247 | 269 |
| Interest Income | - | 39 | 300 | 532 | 1,251 |
| Research And Development | - | 2,771 | 3,102 | 3,233 | 3,570 |
| Selling General And Administration | - | 1,438 | 1,628 | 1,797 | 1,768 |
| Normalized EBITDA | - | 8,267 | 8,469 | 8,791 | 10,156 |
| Normalized Income | - | 6,521.56 | 6,856 | 7,177 | 7,134.66 |
| Market Cap | 330,967 | 330,967 | 330,967 | 330,967 | 330,967 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Applied Materials, Inc.this co. | AMAT | $335.0B | 47.29β discount | 16.21 | 34.3% | 33.16 |
| Cisco Systems, Inc. | CSCO | $344.5B | 34.54 | 7.51 | 21.7% | 23.95 |
| Lam Research Corporation | LRCX | $343.8B | 62.50 | 33.96 | 54.3% | 51.05 |
| Palantir Technologies Inc. | PLTR | $336.9B | 210.60 | 46.33 | 22.0% | 236.80 |
| Arm Holdings plc | ARM | $300.0B |
| - |
| - |
| - |
| - |
| - |
| - |
| 314.86 |
| 36.46 |
| 11.6% |
| 244.22 |
| Texas Instruments Incorporated | TXN | $251.9B | 50.43 | 15.50 | 30.7% | 31.87 |
| Arista Networks, Inc. | ANET | $222.6B | 63.44 | 18.01 | 28.4% | - |
| International Business Machines Corporation | IBM | $216.1B | 20.58 | 6.68 | 32.4% | 15.57 |
| Analog Devices, Inc. | ADI | $197.3B | 86.04 | 5.77 | 6.7% | 40.02 |
| Peer Median | - | 62.97 | 16.75 | 25.2% | 40.02 | |