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Earnings transcript
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AMAT
Applied Materials, Inc.
$348.47
-5.33
(-1.51%)
| Exchange: | NASDAQ |
| Market Cap: | 276.549B |
| Shares Outstanding: | 620M |
About The Company
| Sector: | Technology | |||||
| Industry: | Semiconductors | |||||
| CEO: | Gary E. Dickerson | |||||
| Full Time Employees: | 36000 | |||||
| Address: |
| |||||
| Website: | https://www.appliedmaterials.com |
Applied Materials, Inc. provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits. This segment also offers various technologies, including epitaxy, ion implantation, oxidation/nitridation, rapid thermal processing, physical vapor deposition, chemical vapor deposition, chemical mechanical planarization, electrochemical deposition, atomic layer deposition, etching, and selective deposition and removal, as well as metrology and inspection tools. The Applied Global Services segment provides integrated solutions to optimize equipment and fab performance and productivity comprising spares, upgrades, services, remanufactured earlier generation equipment, and factory automation software for semiconductor, display, and other products. The Display and Adjacent Markets segment offers products for manufacturing liquid crystal displays; organic light-emitting diodes; and other display technologies for TVs, monitors, laptops, personal computers, electronic tablets, smart phones, and other consumer-oriented devices. The company operates in the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe. Applied Materials, Inc. was incorporated in 1967 and is headquartered in Santa Clara, California.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 26,517,000 | 27,176,000 | 28,368,000 |
| Gross Profit | 12,384,000 | 12,897,000 | 13,808,000 |
| EBITDA | 8,456,000 | 8,791,000 | 9,650,000 |
| Operating Income | 7,654,000 | 7,867,000 | 8,289,000 |
| Net Income | 6,856,000 | 7,177,000 | 6,998,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 30,729,000 | 34,409,000 | 36,299,000 |
| Total Liabilities | 14,380,000 | 15,408,000 | 15,884,000 |
| Total Stockholders Equity | 16,349,000 | 19,001,000 | 20,415,000 |
| Total Debt | 5,999,000 | 6,605,000 | 6,555,000 |
| Cash and Cash Equivalents | 6,132,000 | 8,022,000 | 7,241,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 8,700,000 | 8,677,000 | 7,958,000 |
| Capital Expenditure | -1,106,000 | -1,190,000 | -2,260,000 |
| Free Cash Flow | 7,594,000 | 7,487,000 | 5,698,000 |
| Net Income | 6,856,000 | 7,177,000 | 6,998,000 |
| Net Change in Cash | 4,133,000 | 1,880,000 | -781,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 39,820,204.978 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 47,333,613.560 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 44,066,526.517 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 14,372,887.102 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 17,084,811.195 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 15,905,573.840 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 12,573,692.015 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 15,759,797.619 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 14,374,368.497 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 2,380,455.988 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 2,829,608.333 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 2,634,301.531 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 17.790 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 19.500 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 15.560 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 6 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 3 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Record Revenue Performance: Applied Materials reported record revenues in Q1 Fiscal 2025, as highlighted in the earnings call transcript, reflecting strong operational execution and market demand for its semiconductor equipment and services.
- Robust Financial Metrics: Key metrics such as high gross profit margin (TTM) and net profit margin (TTM) indicate efficient cost management and profitability, positioning AMAT favorably within the semiconductor industry.
- Strong Cash Flow Generation: Significant free cash flow (TTM) and consistent net cash provided by operating activities, as per cash flow statements, provide financial flexibility for innovation, dividends, and debt management.
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Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates AMAT intrinsic value between $132.09 – $162.21 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about AMAT valuation
Is Applied Materials, Inc. (AMAT) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Applied Materials, Inc. (AMAT) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is AMAT a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether AMAT trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is AMAT’s P/E ratio?
You can see AMAT’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for AMAT?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is AMAT a good long-term investment?
Whether AMAT fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
AMAT
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Daily snapshot
-1.51
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Daily snapshotTrading Metrics:
| Open: | 338 | Previous Close: | 353.8 | |
| Day Low: | 337.25 | Day High: | 354.31 | |
| Year Low: | 123.74 | Year High: | 395.95 | |
| Price Avg 50: | 345.87 | Price Avg 200: | 248.89 | |
| Volume: | 4.25M | Average Volume: | 7.338M |
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Login — it's freeAMAT full analysis
Welcome to MARKETSNAP’s SWOT analysis for Applied Materials, one of the heavyweights in the semiconductor equipment space. If you’re a long-term investor looking to build wealth through smart picks, you’re in the right place. Today, we’re diving deep into what makes Applied Materials tick, breaking down their strengths, weaknesses, opportunities, and threats, while sprinkling in some recent developments and financial insights to keep things spicy. Let’s get started with a quick overview of where this company stands and what’s been…
