Applied Materials, Inc. (AMAT) Income Statement
AMAT FY2025 at a glance
Fiscal year ended October 31, 2025 · U.S. dollarsAMAT revenue and net income
Where AMAT's revenue goes
FY2025Each bar shows an amount and its share of revenue. AMAT kept 24.7% of revenue as net income.
AMAT profit margins
AMAT growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +4.4% | +3.2% | +10.5% | +11.4% |
| Gross profit | +7.1% | +4.8% | +12.4% | +13.3% |
| Operating income | +5.4% | +2.1% | +13.7% | +17.2% |
| Net income | −2.5% | +2.4% | +14.1% | +17.7% |
| EPS (diluted) | +8.8% | +6.9% | +17.6% | +23.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AMAT quarterly EPS vs estimates
Applied Materials beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 12, 2026 (estimate $4.06).
AMAT income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $28.37B | $27.18B | $26.52B | $25.79B | $23.06B | $17.20B | $14.61B | $16.70B | $14.70B | $10.82B |
| Cost of revenue | $14.56B | $14.28B | $14.13B | $13.79B | $12.15B | $9.51B | $8.22B | $9.19B | $8.09B | $6.31B |
| Gross profit | $13.81B | $12.90B | $12.38B | $11.99B | $10.91B | $7.69B | $6.39B | $7.52B | $6.61B | $4.51B |
| Research & development | $3.57B | $3.23B | $3.10B | $2.77B | $2.48B | $2.23B | $2.05B | $2.02B | $1.77B | $1.54B |
| Sales, general & admin | $1.77B | $1.80B | $1.63B | $1.44B | $1.23B | $1.09B | $982.0M | $1.00B | $890.0M | $819.0M |
| Total operating expenses | $5.52B | $5.03B | $4.73B | $4.21B | $4.03B | $3.33B | $3.04B | $3.02B | $2.66B | $2.36B |
| Operating income | $8.29B | $7.87B | $7.65B | $7.79B | $6.89B | $4.37B | $3.35B | $4.49B | $3.94B | $2.15B |
| Interest income | $1.25B | $532.0M | $300.0M | $39.0M | $118.0M | $41.0M | $156.0M | $132.0M | $61.0M | $16.0M |
| Interest expense | $269.0M | $247.0M | $238.0M | $228.0M | $236.0M | $240.0M | $237.0M | $234.0M | $198.0M | $155.0M |
| Income before taxes | $9.27B | $8.15B | $7.72B | $7.60B | $6.77B | $4.17B | $3.27B | $4.40B | $3.82B | $2.01B |
| Income taxes | $2.27B | $975.0M | $860.0M | $1.07B | $883.0M | $547.0M | $563.0M | $1.36B | $297.0M | $292.0M |
| Net income | $7.00B | $7.18B | $6.86B | $6.53B | $5.89B | $3.62B | $2.71B | $3.04B | $3.52B | $1.72B |
| EBITDA | $9.97B | $8.79B | $8.46B | $8.26B | $7.39B | $4.78B | $3.87B | $5.08B | $4.42B | $2.56B |
| EPS (diluted) | $9.42 | $8.66 | $8.05 | $7.71 | $6.86 | $4.18 | $3.05 | $4.45 | $3.25 | $1.76 |
| Gross margin | 48.7% | 47.5% | 46.7% | 46.5% | 47.3% | 44.7% | 43.7% | 45.0% | 45.0% | 41.7% |
| Operating margin | 29.2% | 28.9% | 28.9% | 30.2% | 29.9% | 25.4% | 22.9% | 26.9% | 26.8% | 19.9% |
| Net margin | 24.7% | 26.4% | 25.9% | 25.3% | 25.5% | 21.0% | 18.5% | 18.2% | 23.9% | 15.9% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.12B | $7.91B | $7.01B | $6.80B | $7.30B | $7.10B | $7.17B | $7.04B | $6.78B | $6.65B | $6.71B | $6.72B |
| Cost of revenue | $4.53B | $3.96B | $3.58B | $3.54B | $3.74B | $3.62B | $3.67B | $3.71B | $3.57B | $3.49B | $3.50B | $3.55B |
| Gross profit | $4.59B | $3.95B | $3.44B | $3.27B | $3.56B | $3.48B | $3.50B | $3.33B | $3.21B | $3.15B | $3.20B | $3.17B |
| Research & development | $1.10B | $1.03B | $928.0M | $917.0M | $901.0M | $893.0M | $859.0M | $858.0M | $836.0M | $785.0M | $754.0M | $789.0M |
| Sales, general & admin | $411.0M | $397.0M | $411.0M | $455.0M | $428.0M | $423.0M | $462.0M | $431.0M | $427.0M | $456.0M | $483.0M | $409.0M |
| Total operating expenses | $1.51B | $1.42B | $1.34B | $1.55B | $1.33B | $1.32B | $1.32B | $1.29B | $1.26B | $1.24B | $1.24B | $1.20B |
| Operating income | $3.08B | $2.52B | $2.10B | $1.71B | $2.23B | $2.17B | $2.17B | $2.05B | $1.94B | $1.91B | $1.97B | $1.97B |
| Interest income | — | $771.0M | $566.0M | $626.0M | $396.0M | $221.0M | $8.0M | $85.0M | $81.0M | $141.0M | $395.0M | $259.0M |
| Interest expense | $68.0M | $69.0M | $69.0M | $71.0M | $66.0M | $68.0M | $64.0M | $66.0M | $63.0M | $59.0M | $59.0M | $58.0M |
| Income before taxes | $2.91B | $3.23B | $2.33B | $2.27B | $2.56B | $2.32B | $2.12B | $1.90B | $1.96B | $1.99B | $2.30B | $2.17B |
| Income taxes | $369.0M | $419.0M | $302.0M | $370.0M | $784.0M | $185.0M | $934.0M | $164.0M | $255.0M | $272.0M | $284.0M | $168.0M |
| Net income | $2.54B | $2.81B | $2.03B | $1.90B | $1.78B | $2.14B | $1.19B | $1.73B | $1.71B | $1.72B | $2.02B | $2.00B |
| EBITDA | $3.13B | $3.43B | $2.52B | $2.45B | $2.74B | $2.49B | $2.29B | $2.07B | $2.12B | $2.15B | $2.45B | $2.36B |
| EPS (diluted) | $3.50 | $2.86 | $2.38 | $2.17 | $2.48 | $2.39 | $2.38 | $2.32 | $2.12 | $2.09 | $2.13 | $2.12 |
| Gross margin | 50.3% | 49.9% | 49.0% | 48.0% | 48.8% | 49.1% | 48.8% | 47.3% | 47.3% | 47.4% | 47.8% | 47.1% |
| Operating margin | 33.7% | 31.9% | 29.9% | 25.2% | 30.6% | 30.5% | 30.4% | 29.0% | 28.7% | 28.8% | 29.3% | 29.3% |
| Net margin | 27.8% | 35.5% | 28.9% | 27.9% | 24.4% | 30.1% | 16.5% | 24.6% | 25.2% | 25.9% | 30.1% | 29.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AMAT's financial statements (latest annual report filed December 12, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AMAT financial results
In fiscal year 2025 (ended October 31, 2025), Applied Materials reported revenue of $28.4 billion, up 4.4% from the year before. It had net income of $7.0 billion (down 2.5%), a net profit margin of 24.7%. Diluted earnings per share came to $9.42. Over five years revenue grew at an average rate of 10.5% a year.
See the AMAT stock overview for the latest quote and news, or the AMAT chart for price history and technical indicators.
AMAT income statement FAQ
What is Applied Materials's annual revenue?
Applied Materials reported total revenue of $28.4 billion for fiscal year 2025, which ended on October 31, 2025. That was up 4.4% from $27.2 billion the previous year.
Is Applied Materials profitable?
Yes. Applied Materials reported net income of $7.0 billion in fiscal 2025, a net profit margin of 24.7%; its operating margin was 29.2%.
What is Applied Materials's gross margin?
Applied Materials's gross margin was 48.7% in fiscal 2025: for every $100 of revenue, Applied Materials kept $49 after the direct cost of its products and services.
How much does Applied Materials spend on research and development?
Applied Materials spent $3.6 billion on research and development in fiscal 2025, 12.6% of revenue.
How fast is Applied Materials growing?
Revenue grew 10.5% a year on average over the last five fiscal years, from $17.2 billion to $28.4 billion.
What are Applied Materials's earnings per share?
Applied Materials earned $9.42 per diluted share in fiscal 2025, compared with $8.66 a year earlier.
When will Applied Materials report its next earnings?
Applied Materials is expected to report results for the quarter ending October 31, 2026 on November 12, 2026 after the market closes.
When does Applied Materials's fiscal year end?
Applied Materials's fiscal year ends in October. The latest annual report covers the year ended October 31, 2025 and was filed on December 12, 2025.