AMAT
APPLIED MATERIALS INC /DE
Technology • CIK 0000006951
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Market Cap
$331.55B
P/E (TTM)
39.0x
Rev Growth (TTM)
+3.3%
Net Margin (TTM)
29.3%
FCF Yield (TTM)
1.6%
FCF Margin (TTM)
18.4%
Filings your agent reads
Primary-source SEC disclosures, read end-to-end — every figure traceable to its filing.
10-QQ2 20262026-05-21source
8-KEarnings2026-05-14source
8-KMar 20262026-03-13source
10-QQ1 20262026-02-19source
8-KEarnings2026-02-12source
Point your agent at AMAT and it navigates these the same way — citing each number back to the filing.
Cash Flow Health
Free Cash Flow8/8 positive
TTM$5.3B
Q2 '26
$210M-80%
Q1 '26
$1.0B-49%
FCF Margin
TTM18.4%
Q2 '262.7%-82%
Sector: 8.5%Above Avg
OCF Margin27.5%
OCF/NI0.94x
CapEx Coverage3.0x
FCF Yield1.6%
FCF Growth (2Y)-3%
Cash Conversion Cycle
169 days
DSO: 70+DIO: 146−DPO: 47
Capital Allocation & Returns
Growth Focused
Total Shareholder YieldTTM
TTM1.3%
Div Yield0.5%
+Buyback (TTM)0.8%
Prioritizing reinvestment over distributions
Dividend & Payout Metrics
Dividend Yield (TTM)0.5%
FCF Payout Ratio28.4%
Free Cash Flow (TTM)$5.3B
Stock Repurchases (TTM)$2.6B
Capital Return / FCF77.2%
Est. Dividends Paid (TTM)$1.5B
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
24.6%
Stable
-0.0% YoY-1.6%
P25MedianP75
75th pctl (med: 0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
23.4%
8Q: 24.9%
Asset Turnover
0.80x
8Q: 0.83x
Leverage (1+D/E)
1.32x
D/E: 0.32x
DuPont: 24.7% ≈ 24.6% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
6.37x
8Q:7.51x
-335.3%
Invested Cap Turn
1.33x
8Q:1.36x
-5.4%
CapEx Intensity
12.2%
8Q:10.4%
CapEx/Depreciation
5.42x
Asset-based ROIC formula
Valuation Analysis
Fair Value
Price-to-EarningsTTM
39.0x
Volatile
8Q: 98.0x+2041%
Multiple expansion without fundamental improvement
Valuation Lenses
Earnings
39.0x
vs – sector
Cash Flow
61.9x
EV/FCF vs –
Growth-Adj
1.3xPEG
Fair for growth
Quality-Adj
1.6P/E per %ROIC
ROIC: 24.6%
Shareholder Returns
Dividend
0.5%
Buyback
0.8%
Total Yield
1.3%
Market Cap$331.55B
EV$330.49B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
92/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
41.0%
8Q:–
Return on Invested Capital (ROIC)Top 25%
24.6%
8Q:–
Flat
vs Sector:0.0%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 23.4%
Asset Turnover: 0.80x
Earnings Quality
Cash Conversion
0.94x
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin49.0%
Capital Efficiency
Invested Capital Turnover1.33x
Working Capital
Cash Conversion Cycle169 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
52/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
3.3%
OpInc Growth YoY
16.3%
EPS Growth YoY
29.7%
FCF 3Y CAGR
-3.3%
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
49.0%
Operating
28.6%
Top 25% in sector
Net
29.3%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-10.9 pts
FCF: 18.4% | Net: 29.3%
FCF margin lags net margin by 10.9 pts
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $587.00M
Interest Coverage
–
+Net cash position: $587.00M
Leverage Metrics
Debt-to-Equity
0.32x
Balance sheet risk & solvency analysis