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Applied MaterialsAMAT

Legal name
Applied Materials Inc.
Sector
Technology
Industry
Semiconductors & Related Devices
Exchange
Nasdaq

Stock Price $AMAT

Latest filings

You are here#12 of 88 in Technology by market cap

Filing record · 2016–202610-K1010-Q338-K102

AMAT filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 102 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jul ’17Jul ’17
  2. Material agreement8-K · Aug ’19Aug ’19
  3. Leadership change8-K · Oct ’21Oct ’21
  4. FY2025 annual report10-K · Dec ’25Dec ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $28.37B
YoY changeLargest recent move+34.3%in FY17Latest +4.4%

1 older move runs past ±50% (largest +90.4%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All AMAT Financial Metrics65 metrics

Income Statement18

Balance Sheet27

Cash Flow15

Per Share5

02—Overview

Applied Materials Financial Overview 2021–2025

Updated Nov 3, 2026

Despite facing an estimated $600 milliona revenue headwind from new U.S. export restrictions in FY2026, Applied Materials expanded its operating margin to 31.9% by the second quarter of the year. This resilience underscores a clear thesis: the company leverages its indispensable role in advanced logic and NAND manufacturing to generate the cash flow necessary to insulate its core operations from geopolitical friction.

The company's financial trajectory demonstrates steady top-line execution, with total revenue scaling from $23.06 billion in FY2021 to $28.4 billionb in FY2025. Underneath this expansion, management has aggressively prioritized cost discipline and capital returns. During FY2025, the company initiated a 4% global workforce reduction to streamline operations, a move that helped lift annual gross margins to 48.7%. These structural efficiencies directly funded shareholder yield, allowing the company to deploy $4.9 billion toward stock repurchases over the fiscal year.

At the close of FY2025, the market validated this operational consistency, valuing the company at a $181.4 billionc market cap with shares priced at $228.75 and trading at 26.4x earnings. After absorbing a $252.5 million settlement regarding past export compliance, the company quickly demonstrated its underlying pricing power, posting an 11% revenue jump to $7.91 billion in the second quarter of FY2026. By continuously shrinking its share base and increasing average selling prices, Applied Materials continues to navigate a constrained global trade environment without sacrificing profitability.

Recent Developments (Q2 and Q3 2026)

Growth accelerated sharply in Q3 FY2026. Revenue hit a record $9.12 billiond, up 25% year over year, after $7.91 billion in Q2. Semiconductor Systems revenue reached $7.04 billion, with non-GAAP operating margin of 38.0% versus 33.2%. China fell to 28% of revenue from 35%, while U.S. revenue more than doubled to $1.37 billion. Management guided Q4 revenue to $10.25 billion (±$0.5 billion). It also raised the dividend 15% to $0.53 and agreed to buy NEXX from ASMPT. In October, it moved to lift its Besi stake to about 20%, pending antitrust clearance.

Bull case: demand in DRAM, logic and services is compounding, and margins are widening. Bear case: at 57.3x earnings as of the August 19, 2026 report date, not today, the stock prices in sustained acceleration, and Q2 free cash flow fell 80% to $210 millione on a working-capital build.

What to watch: Q4 delivery against the $10.25 billion guide; Besi stake approval and advanced packaging integration

03—Filings

Recent SEC Filings

  1. 8-KApplied Materials 8-K Report, Corporate Update (Oct 26, 2026)Applied Materials, Inc. (AMAT) has announced a significant strategic move through an accelerated share purchase agreement to acquire additional shares of BE Semiconductor Industries N.V. (Besi). Upon completion, Applied Materials expects to own approximately 20% of Besi's outstanding common stock, building upon its existing investment. This increased stake underscores the deepening strategic partnership between the two companies, particularly in advanced packaging technologies crucial for AI-driven semiconductor advancements. The collaboration focuses on co-innovation in areas like hybrid bonding, next-generation 3D IC scaling, and various interconnect architectures.
  2. 8-KApplied Materials 8-K Report, Executive Changes (Aug 27, 2026)Applied Materials, Inc. (AMAT) announced on August 27, 2026, a significant addition to its Board of Directors with the election of Akash Palkhiwala. This appointment, effective immediately, also includes his placement on the Board's Audit Committee, signaling confidence in his financial expertise and oversight capabilities. Investors should note that Mr. Palkhiwala's compensation package is standard for non-employee directors, consisting of retainers and a restricted stock unit grant, with a vesting date of March 1, 2027. This move is a routine governance update, indicating no immediate impact on company operations but reinforcing the board's structure.
  3. 8-KApplied Materials 8-K Report, Financial Results (Aug 13, 2026)Applied Materials reported record third-quarter fiscal 2026 results (quarter ended July 26, 2026), with revenue of $9.12 billion, up 25% year over year, and the highest sequential revenue growth in the company's history. GAAP EPS was $3.17 (up 43%) and non-GAAP EPS was a record $3.50 (up 41%). GAAP gross margin was 50.3% and non-GAAP gross margin was 50.4%, marking the 13th consecutive quarter of year-over-year gross margin expansion. Semiconductor Systems revenue rose about 26% to $7.04 billion, with DRAM rising to 26% of segment revenue from 22%. Cash from operations was a record $3.04 billion, and non-GAAP free cash flow was $2.33 billion, up 14%. The company returned $860 million to shareholders through $440 million in buybacks and $420 million in dividends. Management guided fiscal Q4 2026 revenue to $10.25 billion (±$500 million) and non-GAAP EPS to $4.02 (±$0.20). The EPS outlook includes a $0.05 per share net tax benefit from intra-entity intangible asset transfers and excludes $0.01 per share of acquisition-related charges. Management said it expects another strong growth year in 2027, citing increased customer demand visibility, and is making additional manufacturing capacity investments to support projected demand through the end of the decade. The CEO attributed demand strength to AI-driven adoption and said the company expects to grow faster than the overall semiconductor equipment market in calendar 2026. Investors should note several items that affect GAAP comparisons. Q3 GAAP results included a $220 million unrealized loss on strategic investments, which was excluded from non-GAAP results. The nine-month GAAP results include a $253 million legal settlement with the U.S. Commerce Department's Bureau of Industry and Security over an export controls compliance matter, which reduced nine-month GAAP EPS by $0.32. Q3 GAAP tax expense fell sharply to a 12.7% effective rate from a prior-year period that included a valuation allowance charge. Geographically, China revenue was roughly flat at $2.51 billion but fell to 28% of total revenue from 35%, while U.S. revenue more than doubled to $1.37 billion. This 8-K furnishes the earnings release under Item 2.02 and is not deemed filed under Section 18 of the Exchange Act.
  4. 8-KApplied Materials 8-K Report, Financial Results (May 14, 2026)Applied Materials reported record second-quarter fiscal 2026 results for the period ended April 26, 2026. Revenue rose 11% year over year to $7.91 billion, GAAP operating income grew 16% to $2.52 billion (31.9% margin), and GAAP diluted EPS was $3.51, up 33%. Non-GAAP diluted EPS was $2.86, up 20%. Management said it now expects its semiconductor equipment business to grow more than 30% in calendar 2026, citing AI infrastructure build-out and strength in leading-edge logic, DRAM, and advanced packaging. It also said it has increased its build plan, inventory, and logistics capacity to meet demand. The GAAP EPS figure is flattered by a $685 million unrealized gain on strategic investments, which added roughly $0.80 per diluted share. Non-GAAP net income of $2.29 billion was about $520 million below GAAP net income of $2.81 billion. Investors should anchor on the non-GAAP EPS of $2.86 and the operating results. Non-GAAP free cash flow fell 80% to $210 million, driven by a $1.75 billion working-capital build and capital expenditures that rose to $635 million from $510 million. Share repurchases slowed to $400 million, and dividends totaled $365 million. For the third quarter of fiscal 2026, Applied guided to revenue of $8.95 billion, plus or minus $500 million, and non-GAAP diluted EPS of $3.36, plus or minus $0.20. The company also raised its quarterly dividend 15% to $0.53 per share, its ninth consecutive annual increase, and agreed to acquire the NEXX advanced packaging deposition business from ASMPT. Risks flagged in the filing include export controls, tariffs, customer concentration, and geopolitical conditions. The filing notes that the $253 million legal settlement with the Commerce Department (BIS) was recorded in the first quarter, not in the quarter reported here.
  5. 8-KApplied Materials 8-K Report, Shareholder Vote Results (Mar 13, 2026)Applied Materials, Inc. (the Company) held its Annual Meeting of Shareholders on March 12, 2026, and reported the results of three shareholder votes in this Current Report on Form 8-K, filed March 13, 2026 under Item 5.07 (Submission of Matters to a Vote of Security Holders). The filing discloses no financial results, transactions, or other material events beyond these votes. Shareholders elected all ten director nominees to one-year terms. Vote counts for each nominee show substantial "For" majorities, with the lowest "For" count being James R. Anderson's... no, Kevin P. March, who received 536,089,076 For votes against 62,101,403 Against and 984,238 Abstain. Broker non-votes were 85,096,891 for each nominee. Shareholders also approved, on an advisory basis, the compensation of the Company's named executive officers for fiscal year 2025, with 552,486,796 For, 41,457,649 Against, and 5,230,272 Abstain. In addition, shareholders ratified the appointment of KPMG LLP as the Company's independent registered public accounting firm for fiscal year 2026, with 636,399,482 For, 46,823,436 Against, and 1,048,690 Abstain.
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04—See also

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