Applied Materials, Inc.
- Open
- 532.40
- Day high
- 551.18
- Day low
- 513.22
- Prev close
- 560.93
- Volume
- 10.0M
- Mkt cap
- $420.3B
- P/E (TTM)
- 49.5
- EPS (TTM)
- $10.69
- P/B
- 17.6
- P/S
- 14.5
- Yield
- 0.36%
- Per share
- $1.91
- ▼Insiders net selling -$169.7M over the last 3 months (0 open-market buys, 34 sales)
- 🏛Institutions mixed (13F)
Applied Materials, Inc. (AMAT) is a Technology company listed on NASDAQ. The stock is up 178% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 34 sales (SEC Form 4). Drillr has 12 published research articles covering AMAT.
Applied Materials, Inc. (AMAT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 24 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AMAT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 14, 2026 | $2.68 | $2.86 | +6.7% | $7.9B | +3.0% |
| Feb 12, 2026 | $2.21 | $2.38 | +7.7% | $7.0B | +2.1% |
| Dec 12, 2025 | $2.11 | $2.17 | +2.8% | $6.8B | +1.7% |
| Aug 14, 2025 | $2.36 | $2.48 | +5.1% | $7.3B | +1.1% |
| May 15, 2025 | $2.31 | $2.39 | +3.5% | $7.1B | -0.4% |
| Feb 13, 2025 | $2.28 | $2.38 | +4.4% | $7.2B | +0.3% |
| Nov 14, 2024 | $2.19 | $2.32 | +5.9% | $7.0B | +1.2% |
| Aug 15, 2024 | $2.02 | $2.12 | +5.0% | $6.8B | +1.5% |
| May 16, 2024 | $1.99 | $2.09 | +5.0% | $6.6B | +1.7% |
| Feb 15, 2024 | $1.91 | $2.13 | +11.5% | $6.7B | +3.4% |
| Nov 16, 2023 | $2.00 | $2.12 | +6.0% | $6.7B | +9.4% |
| Aug 17, 2023 | $1.74 | $1.90 | +9.2% | $6.4B | +4.3% |
AMAT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 6, 2026 | Sanders Adamofficer: Corp. Controller & CAO | Tax | 125 | $650.91 |
| Jul 1, 2026 | DICKERSON GARY Edirector, officer: President and CEO | Sell | 30 | $736.05 |
| Jul 1, 2026 | DICKERSON GARY Edirector, officer: President and CEO | Sell | 7,989 | $701.33 |
| Jul 1, 2026 | DICKERSON GARY Edirector, officer: President and CEO | Sell | 19,970 | $735.22 |
| Jul 1, 2026 | DICKERSON GARY Edirector, officer: President and CEO | Sell | 50,332 | $700.21 |
| Jun 22, 2026 | Raja Prabu G.officer: President, Semi. Products Grp. | Sell | 10,000 | $633.53 |
| Jun 17, 2026 | DICKERSON GARY Edirector, officer: President and CEO | Sell | 4,457 | $597.45 |
| Jun 17, 2026 | DICKERSON GARY Edirector, officer: President and CEO | Sell | 4,682 | $593.51 |
| Jun 17, 2026 | DICKERSON GARY Edirector, officer: President and CEO | Sell | 15,755 | $590.52 |
| Jun 17, 2026 | Nalamasu Omkaramofficer: Senior Vice President, CTO | Sell | 4,726 | $593.58 |
| Jun 17, 2026 | DICKERSON GARY Edirector, officer: President and CEO | Sell | 2,426 | $598.56 |
| Jun 17, 2026 | DICKERSON GARY Edirector, officer: President and CEO | Sell | 9,186 | $591.40 |
| Jun 17, 2026 | Nalamasu Omkaramofficer: Senior Vice President, CTO | Sell | 4,028 | $595.50 |
| Jun 17, 2026 | Nalamasu Omkaramofficer: Senior Vice President, CTO | Sell | 6,938 | $590.20 |
| Jun 17, 2026 | Nalamasu Omkaramofficer: Senior Vice President, CTO | Sell | 3,675 | $596.52 |
Source: AMAT SEC Form 4 filings, latest Jul 6, 2026. For informational purposes only — not investment advice.
See the full AMAT insider & 13F page →AMAT research & analysis
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Applied Materials, Inc. company profile
Overview
Applied Materials, Inc. (NASDAQ:AMAT) is a leading provider of manufacturing equipment, services, and software to the global semiconductor industry. Founded in 1967 and headquartered in Santa Clara, California, the company went public in 1980 and has established itself as a critical enabler of the digital revolution. Applied Materials serves as the backbone infrastructure provider for semiconductor manufacturing, supplying the specialized tools and technologies that enable the production of computer chips found in everything from smartphones to data centers. The company operates globally with significant presence in the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe, positioning itself at the center of the world's most advanced technology supply chains.
Business
Applied Materials operates in the semiconductor equipment industry, which provides the specialized manufacturing tools necessary to produce computer chips or integrated circuits. The semiconductor industry follows a complex supply chain where chip designers create blueprints, foundries manufacture the actual chips, and equipment companies like Applied Materials provide the sophisticated machinery that makes chip production possible. The company operates through three primary business segments. The Semiconductor Systems segment represents approximately 74% of total revenue and develops, manufactures, and sells various manufacturing equipment used to fabricate semiconductor chips. This includes a comprehensive portfolio of technologies such as epitaxy (growing crystal layers), ion implantation (embedding atoms into materials), physical and chemical vapor deposition (applying thin films), etching (removing material), chemical mechanical planarization (smoothing surfaces), and metrology and inspection tools (measuring and quality control). These processes are essential for creating the intricate, nanometer-scale structures that enable modern computing. The Applied Global Services segment accounts for roughly 23% of revenue and provides integrated solutions to optimize equipment and fabrication facility performance. This includes spare parts, equipment upgrades, maintenance services, remanufactured equipment, and factory automation software. This segment generates recurring revenue streams and helps customers maximize their equipment utilization and productivity. The Display and Adjacent Markets segment represents approximately 3% of revenue and offers products for manufacturing liquid crystal displays, organic light-emitting diodes, and other display technologies used in televisions, monitors, laptops, tablets, and smartphones. This segment also includes equipment for solar panels and other adjacent markets that utilize similar manufacturing processes to semiconductors.
Revenue model
Applied Materials generates revenue primarily through direct equipment sales to semiconductor manufacturers, with additional income from services and software. The company's customers include major foundries like Taiwan Semiconductor Manufacturing Company (TSMC), memory manufacturers like Samsung and SK Hynix, and integrated device manufacturers like Intel. These customers purchase Applied Materials' equipment to build and upgrade their fabrication facilities, with individual tool purchases ranging from hundreds of thousands to several million dollars. The business model benefits from several revenue streams. Equipment sales provide the largest portion, driven by customers' capital expenditure cycles for new facility construction and technology upgrades. The services business generates steady recurring revenue through maintenance contracts, spare parts sales, and equipment upgrades throughout the tools' operational lifespan, which can extend 10-15 years. Software and automation solutions provide additional recurring revenue opportunities. Several factors influence the company's margins and profitability. Technology leadership in critical manufacturing processes allows Applied Materials to command premium pricing, particularly during major technology transitions like the current shift to gate-all-around transistors and advanced packaging. Market cyclicality significantly impacts demand, as semiconductor equipment spending fluctuates with chip industry cycles, end-market demand, and global economic conditions. Geopolitical factors affect operations, particularly regarding China market access and export restrictions. Supply chain efficiency influences gross margins, with the company working to optimize manufacturing costs and component availability. Research and development investments are crucial for maintaining technological differentiation but pressure short-term margins. Customer concentration creates both opportunities and risks, as relationships with major foundries and memory manufacturers drive large orders but also create dependency on their capital spending decisions.
Competitive moat
Applied Materials possesses a strong competitive moat built on several sustainable advantages. The company's primary moat stems from its technological expertise and intellectual property in materials engineering and process technologies. Developing semiconductor manufacturing equipment requires deep scientific knowledge, extensive R&D capabilities, and years of customer collaboration to perfect complex manufacturing processes. This creates significant barriers to entry for potential competitors. The company benefits from high customer switching costs, as semiconductor manufacturers invest heavily in qualifying equipment and integrating it into their production processes. Once a tool is installed and producing chips, customers are reluctant to switch suppliers due to the time, cost, and risk involved in requalifying alternative equipment. Additionally, Applied Materials' comprehensive service and support infrastructure creates ongoing customer relationships that extend well beyond the initial equipment sale. Scale advantages strengthen the moat through R&D leverage and supply chain efficiency. The company's large revenue base allows it to invest heavily in next-generation technologies while spreading development costs across a broad customer base. Its global scale also provides negotiating power with suppliers and the ability to support customers worldwide. However, the moat faces several challenges. Cyclical demand creates periods of intense pricing pressure when equipment spending declines. Geopolitical tensions and export restrictions can limit market access, particularly in China, which represents a significant portion of global semiconductor production. Customer concentration among a few major foundries and memory manufacturers gives these customers significant negotiating leverage. Technological disruption from new manufacturing approaches or alternative materials could potentially obsolete existing equipment categories. Competition from other established equipment manufacturers like ASML, Lam Research, and KLA Corporation remains intense, particularly in specific technology areas where these companies have developed specialized expertise.
Risks & safety
Applied Materials demonstrates a strong financial position with substantial margin of safety: • Liquidity and Solvency: Strong balance sheet with $6.2 billion in cash and short-term investments, current ratio of 2.46, quick ratio of 1.76, and debt-to-equity ratio of 0.33, indicating low solvency risk • Cash Generation: Robust free cash flow of $1.1 billion in Q2 2025, with annual free cash flow of $7.5 billion in fiscal 2024, demonstrating strong cash generation capabilities • Profitability: Healthy margins with non-GAAP gross margin of 49.2% and strong return on equity of 11.3% • Valuation Metrics: Trading at reasonable multiples with P/E ratio of 14.3, EV/EBITDA of 14.1, and price-to-book ratio of 6.4 • Dividend and Shareholder Returns: Consistent capital returns with $2 billion in dividends and share repurchases in recent quarter, demonstrating commitment to shareholder value • Market Position: Leading market share in critical semiconductor manufacturing processes provides defensive characteristics during industry downturns
Recent development
Over the past few years, Applied Materials has strategically positioned itself to capitalize on major technology inflections driven by artificial intelligence and energy-efficient computing demands. The company has significantly expanded its focus on gate-all-around transistor technology, generating $2.5 billion in revenue from this next-generation logic technology in fiscal 2024, with expectations to potentially double this revenue in 2025 as more customers transition to advanced nodes. The company has aggressively grown its advanced packaging business, quadrupling revenue over five years to reach $1.7 billion in 2024. This growth reflects the industry's shift toward heterogeneous integration and chiplet architectures, where multiple specialized chips are combined in advanced packages to improve performance and energy efficiency. Applied Materials expects to double its packaging revenue in the coming years as AI and data center applications drive demand for sophisticated packaging solutions. Applied Materials has strengthened its position in memory technologies, particularly high-bandwidth memory (HBM) used in AI applications. The company has gained significant market share in DRAM manufacturing equipment and developed specialized tools for HBM packaging, with HBM packaging revenue growing to over $700 million. The company is also investing heavily in backside power delivery and other emerging technologies that will be critical for future semiconductor generations. To support these strategic initiatives, Applied Materials has expanded its research and development infrastructure, including investments in its EPIC (Equipment and Process Innovation Center) platform and global R&D capabilities. The company has also implemented value-based pricing strategies to capture more value from its technological leadership, particularly in integrated solutions and during major technology transitions.
AMAT company profile · for informational purposes only — not investment advice.
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