Applied Materials Inc. (AMAT)

NASDAQ: AMAT · USD

$416

+19.60 (+5.0%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-07

Our latest published analysis: AMAT rated Sell

Applied Materials Inc.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$312 / share

Potential value

$438 / share

Upside to FV

-31.4%

from $416

Moat

1/10

None

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$360.9B
Revenue (ttm)	30.8B
Net income (ttm)	9.3B
EPS (ttm)	$11.6
Shares out	793.6M
P/E (trailing)	35.8x
P/E (forward)	24.4x
Dividend	$2.12 (0.51%)
Volume	5,581,496
Beta	1.59

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 30.8B
Net income (ttm): 9.3B
EPS (ttm): $11.6
P/E (trailing): 35.8x
P/E (forward): 24.4x
Market cap: $360.9B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-10-31	2022-10-30	2023-10-29	2024-10-27	2025-10-26	Trend
Revenue	$23.06B	$25.79B	$26.52B	$27.18B	$28.37B	+5.3%
Gross profit	$10.91B	$11.99B	$12.38B	$12.90B	$13.81B	+6.1%
Operating income	$6.89B	$7.79B	$7.65B	$7.87B	$8.29B	+4.7%
Net income	$5.89B	$6.53B	$6.86B	$7.18B	$7.00B	+4.4%
EPS (diluted)	$6.40	$7.44	$8.11	$8.61	$8.66	+7.9%
EBITDA	$7.39B	$8.26B	$8.46B	$8.79B	$9.65B	+6.9%
R&D	$2.49B	$2.77B	$3.10B	$3.23B	$3.57B	+9.5%
SG&A	$620.0M	$735.0M	$1.63B	$1.80B	$1.77B	+29.9%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	卖出
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	卖出
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	强力买入
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	持有
ADI	Analog Devices, Inc.	207.6B	50.9x	14.8x	11.0%	+16.4%	+76.9%	卖出
AI	C3.ai, Inc.	2B	—	8.4x	-35.6%	+3.6%	-33.6%	卖出

Base and Bull scenarios

Base55%

Price target

$312.07

-31.4% from spot

The base-case forecast accelerates revenue through FY2027, then fades growth while holding operating profitability steady and carrying the stated reinvestment schedule.

Post-event annual estimates are delivered through FY2027.
Operating profitability stays at the base-case forecast level rather than expanding.

Bull20%

Price target

$437.56

-3.8% from spot

The bull path requires stronger earnings growth than the base case while operating profitability holds and reinvestment follows the stronger path. Falling annual estimates would disconfirm it.

Annual estimates continue rising after FY2027 results confirm demand.
Free cash flow remains positive after the stated reinvestment schedule.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($312.07). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.5%	3.0%	3.5%	4.0%
8.9%	$355	$366	$379	$395	$414
9.9%	$324	$332	$341	$352	$364
10.9%	$299	$305	$312	$320	$329
11.9%	$279	$284	$289	$295	$301
12.9%	$262	$266	$270	$274	$279

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E24.5

P25 n/aP50 n/aP75 n/a

Trailing P/E39.2

P25 n/aP50 n/aP75 n/a

ROE41.1

P25 n/aP50 n/aP75 n/a

ROIC35.6

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All AMAT indicators

Market & fundamental data

Available fields

297

Groups with data

Currency

USD

Showing 297 of 297 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000006951
Company name	Applied Materials, Inc.
Country	United States
Country code	US
CUSIP number	038222105
Earnings date	2026-11-12
Earnings time	amc
Employees	36,500
Employees change	800
Employees growth	2.24%
Enterprise value	$327.9B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-07-26
First seen	2026-05-09
Fiscal year end	October
Founded	1967
In index	SP500, NASDAQ100
Industry	Semiconductor Equipment & Materials
Is primary listing	Yes
Is SPAC	No
ISIN number	US0382221051
Last 10-K release date	2025-12-12
Last earnings date	2026-08-13
Last refreshed	2026-10-28
Last stock split date	2002-04-17
Last stock split type	Forward
Market cap	$329.7B
Market cap category	Mega-Cap
Next earnings date	2026-11-12
Options	Yes
Price	$415.51
Price currency	USD
Sector	Technology
SIC code	3674
Stock price date	2026-10-28
Symbol	AMAT
U.S. state	California
Website	https://www.appliedmaterials.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	38.09x
Average P/E ratio (10Y)	19.75x
Average P/E ratio (3Y)	25.87x
Average P/E ratio (5Y)	21.93x
Earnings yield	2.79%
EV/Earnings	35.1x
EV/EBIT	33.79x
EV/EBITDA	32.03x
EV/FCF	57.85x
EV/Sales	10.55x
FCF / EV yield	1.73%
FCF yield	1.72%
Forward EV/Sales	7.34x
Forward P/E	23.56x
Forward P/S	7.39x
Graham number	91.77638
Graham upside	-77.74%
Industry forward P/E	25.42x
Industry P/E	39.87x
Lynch fair value	$136.73
Lynch upside	-66.84%
P/(FCF - SBC) ratio	66.47x
P/(OCF - SBC) ratio	42.52x
P/B ratio	12.26x
P/E ratio	35.84x
P/FCF ratio	58.19x
P/OCF ratio	38.97x
P/S ratio	10.61x
PEG ratio	0.73x
Price / tangible book value	15.26x
Price/EBITDA ratio	32.22x
Sector forward P/E	18.55x
Sector P/E	32.64x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	31.22%
EBITDA margin	32.93%
Effective tax rate	13.61%
FCF margin	18.23%
Gross margin	49.4%
Operating margin	31.22%
Pretax margin	34.79%
Profit margin	30.05%
Profit per employee	$253,890
Profitable quarters	53
Profitable years	16
Revenue per employee	$844,849
ROA	15.48%
ROA (5Y)	16.8%
ROCE	29.03%
ROE	41.07%
ROE (5Y)	45.83%
ROIC	35.64%
ROIC (5Y)	45.3%
SBC / revenue	2.27%
Tax / revenue	4.73%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	38.35%
EPS growth (Q)	42.79%
EPS growth (QoQ)	-9.69%
EPS growth 10Y	24.77%
EPS growth 3Y	15.22%
EPS growth 5Y	15.05%
EPS growth quarters	6
EPS growth years	6
FCF growth	-3.44%
FCF growth (Q)	13.66%
FCF growth (QoQ)	1,009.52%
FCF growth 3Y	-6.96%
FCF growth 5Y	2.44%
Gross profit growth	9.76%
Gross profit growth (Q)	28.75%
Gross profit growth 3Y	7.34%
Gross profit growth 5Y	8.54%
Net income growth	35.64%
Net income growth (Q)	42.66%
Net income growth (QoQ)	-9.55%
Net income growth 3Y	12.88%
Net income growth 5Y	11.79%
Net income growth quarters	6
Net income growth years	0
OCF growth	8.97%
OCF growth (Q)	15.3%
OCF growth (QoQ)	259.41%
OCF growth 10Y	14.65%
OCF growth 3Y	1.62%
OCF growth 5Y	8.4%
Operating income growth	11.65%
Operating income growth (Q)	37.71%
Operating income growth 3Y	7.84%
Operating income growth 5Y	8.02%
Revenue growth	7.77%
Revenue growth (Q)	24.83%
Revenue growth (QoQ)	15.23%
Revenue growth 10Y	12.04%
Revenue growth 3Y	5.13%
Revenue growth 5Y	7.35%
Revenue growth quarters	2
Revenue growth years	6

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-2.8B
Depreciation and amortization	$527M
EBIT	$9.6B
EBITDA	$10.2B
EPS	$11.59
FCF per share	$7.09
Financing cash flow	$-3.5B
Free cash flow	$5.6B
Free cash flow minus SBC	$4.9B
Gross profit	$15.2B
Income taxes	$1.5B
Investing cash flow	$-3.3B
Net borrowing	$291M
Net cash flow	$1.6B
Net income	$9.3B
Operating cash flow minus SBC	$7.7B
Operating income	$9.6B
Revenue	$30.8B
Stock-based compensation	$701M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	12.6
Book value per share	$32.29
Debt / EBITDA	0.72
Debt / equity	0.29
Debt / FCF	1.31
Goodwill	$3.9B
Interest coverage	34.76
Long-term assets	$18.4B
Long-term liabilities	$7.5B
Net cash (debt)	$1.9B
Net cash / market cap	0.58%
Net cash growth	648.81%
Net debt / EBITDA	-0.19
Net debt / equity	-0.07
Net debt / FCF	-0.34
Piotroski F-Score	5
Property, plant and equipment	$6.4B
Shareholders' equity	$25.6B
Tangible book value	$21.4B
Tangible book value per share	$27.01
Total assets	$43.5B
Total cash	$9.2B
Total debt	$7.3B
Total liabilities	$17.9B
WACC	12.78%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.79
Current assets	$25.1B
Current liabilities	$10.4B
Current ratio	2.42
Inventory turnover	2.52
Net working capital	$6.9B
Quick ratio	1.63
Working capital	$14.7B
Working capital turnover	2.32

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	2.08%
Dividend growth	15.17%
Dividend growth (10Y)	17.75%
Dividend growth (3Y)	18.89%
Dividend growth (5Y)	16.88%
Dividend growth years	8
Dividend payment date	2026-12-10
Dividend payment years	22
Dividend payout frequency	Quarterly
Dividend per share	$2.12
Dividend yield	0.51%
Ex-dividend date	2026-11-19
FCF payout ratio	28.93%
Last dividend	$0.53
Payout ratio	17.68%
Shareholder yield	2.6%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	1,336.35%
10Y return CAGR	31.94%
10Y total return	1,498.05%
150-day SMA	$476.99
15Y price change	3,205.66%
15Y return CAGR	28.16%
15Y total return	4,034.38%
1D price change	4.95%
1M price change	-14.53%
1M total return	-14.53%
1W price change	2.36%
1W total return	2.36%
1Y price change	79.19%
1Y return CAGR	80.26%
1Y total return	80.19%
20-day SMA	$455.24
200-day SMA	$443.48
20Y price change	2,301.68%
20Y return CAGR	19.08%
20Y total return	3,184.83%
3M price change	-19.8%
3M total return	-19.72%
3Y price change	215.71%
3Y return CAGR	47.84%
3Y total return	223.2%
50-day SMA	$461.24
50-day SMA vs 200-day SMA	50over200
52-week high	$739.67
52-week high date	2026-06-30
52-week low	$203.40
52-week low date	2025-11-14
5Y price change	213.66%
5Y return CAGR	26.74%
5Y total return	226.9%
6M price change	2.39%
6M total return	2.63%
After-hours change	-0%
After-hours close	$415.51
After-hours price	$415.50
All-time high	$739.67
All-time high date	2026-06-30
All-time low	$0.13
All-time low date	1986-08-08
Average true range (ATR)	$19.63
Average volume	6.8M
Beta (1Y)	1.79
Beta (2Y)	1.63
Beta (5Y)	1.59
Change from 52-week high	-43.82%
Change from 52-week low	104.28%
Change from all-time high	-43.96%
Change from all-time low	331,524%
Change from open	3.19%
Day's gap	1.7%
Dollar volume	$2.3B
High price	$421.38
Low price	$401.78
Monthly RSI	55.67
Open price	$402.67
Position in 52-week range	70.05%
Premarket change	1.78%
Premarket close	$395.93
Premarket price	$402.97
Premarket volume	61.2K
Previous close	$395.93
Price vs 150-day SMA	-13.09%
Price vs 20-day SMA	-8.94%
Price vs 200-day SMA	-6.53%
Price vs 50-day SMA	-10.13%
Relative volume	0.82
RSI	41.18
Sharpe ratio	1.21
Sharpe ratio (3Y)	0.94
Sharpe ratio (5Y)	0.65
Sortino ratio	1.94
Sortino ratio (3Y)	1.5
Sortino ratio (5Y)	1.07
Volume	5.6M
Weekly RSI	46
YTD price change	61.3%
YTD total return	61.88%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	790.5M
Float percentage	99.61%
Shares change (QoQ)	0.13%
Shares change (YoY)	-2.08%
Shares held by insiders	0.26%
Shares held by institutions	85.13%
Shares outstanding	793.6M
Short % of float	1.71%
Short % of shares	1.7%
Short ratio	2.1 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	789

Deeper analysis on AMAT

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this AMAT report

What is the latest published AMAT stock rating?

Applied Materials Inc. is shown with Sell in the latest published report, analyzed 2026-09-07. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full AMAT analysis?

The full latest published report, analyzed 2026-09-07, lives at /stocks/AMAT/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for AMAT?

The latest published report analyzed 2026-09-07 gives AMAT a fair value of USD 312 and a potential value of USD 438. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the AMAT page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-07). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellAMAT · Fair value $312-31.4%

Read full analysis →

Applied Materials Inc. (AMAT)

Our latest published analysis: AMAT rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · AMAT

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All AMAT indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on AMAT

Frequently asked questions

评级历史

Category	Score	Reading
Valuation	1.5
Management	6.5
Balance Sheet	8.5
Profitability	8.5
Revenue Growth	7.5
Risk Assessment	7.0
Competitive Moat	1.0
Earnings Quality	7.5
Capital Efficiency	8.5