Applied Materials, Inc. (AMAT) Key Metrics
AMAT valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $324.81B
- Enterprise value
- $374.58B
- P/E (TTM)
- 35.3 10-yr median 18.1
- Forward P/E
- 23.4
- PEG ratio
- 0.83
- Price / sales
- 10.5 10-yr median 3.8
- Price / book
- 12.9 10-yr median 6.4
- EV / EBITDA
- 28.6 10-yr median 13.4
- Dividend yield
- 0.52% $2.12 a year
- Beta
- 1.59
AMAT key metrics, FY2016–FY2025
Fiscal year ended October 31, 2025 · U.S. dollarsAMAT valuation Price multiples at each fiscal year-end price.
AMAT returns How much profit the business earns on the capital it uses.
AMAT per-share figures Results divided by the shares outstanding at year-end.
AMAT financial health Debt, liquidity and how easily interest is covered.
AMAT efficiency & capital use Working capital cycle and where the cash goes.
AMAT valuation history
AMAT returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
AMAT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
AMAT cash returned to shareholders
AMAT price vs earnings per share
AMAT key metrics
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $188.34B | $151.44B | $111.84B | $77.43B | $125.58B | $54.67B | $51.28B | $33.73B | $61.17B | $32.45B |
| Enterprise value | $186.82B | $148.57B | $110.97B | $80.68B | $125.65B | $54.44B | $52.97B | $36.74B | $61.65B | $32.03B |
| P/E ratio | 26.9 | 21.1 | 16.3 | 11.9 | 21.3 | 15.1 | 18.9 | 11.1 | 17.4 | 18.9 |
| Price / sales | 6.6 | 5.6 | 4.2 | 3.0 | 5.4 | 3.2 | 3.5 | 2.0 | 4.2 | 3.0 |
| Price / book | 9.2 | 8.0 | 6.8 | 6.3 | 10.3 | 5.2 | 6.2 | 4.9 | 6.5 | 4.5 |
| Price / free cash flow | 33.1 | 20.2 | 14.7 | 16.8 | 26.3 | 16.2 | 18.3 | 10.7 | 18.7 | 14.7 |
| Price / operating cash flow | 23.7 | 17.5 | 12.9 | 14.3 | 23.1 | 14.4 | 15.8 | 8.9 | 16.9 | 13.2 |
| EV / sales | 6.6 | 5.5 | 4.2 | 3.1 | 5.4 | 3.2 | 3.6 | 2.2 | 4.2 | 3.0 |
| EV / EBITDA | 18.7 | 16.9 | 13.1 | 9.8 | 17.0 | 11.4 | 13.7 | 7.2 | 13.9 | 12.5 |
| EV / free cash flow | 32.8 | 19.8 | 14.6 | 17.5 | 26.3 | 16.1 | 18.9 | 11.6 | 18.9 | 14.5 |
| Earnings yield | 3.7% | 4.7% | 6.1% | 8.4% | 4.7% | 6.6% | 5.3% | 9.0% | 5.8% | 5.3% |
| Free cash flow yield | 3.0% | 4.9% | 6.8% | 6.0% | 3.8% | 6.2% | 5.5% | 9.4% | 5.3% | 6.8% |
| Dividend yield | 0.7% | 0.8% | 0.9% | 1.1% | 0.7% | 1.4% | 1.5% | 1.8% | 0.7% | 1.4% |
| Shareholder yield (dividends + buybacks) | 3.3% | 3.3% | 2.8% | 9.0% | 3.7% | 2.6% | 6.2% | 17.5% | 2.6% | 7.2% |
| Share price at fiscal year-end | $233.10 | $181.58 | $132.35 | $88.29 | $136.65 | $59.23 | $54.26 | $32.88 | $56.43 | $29.08 |
| Per share | ||||||||||
| Revenue per share | $35.11 | $32.59 | $31.38 | $29.40 | $25.10 | $18.64 | $15.46 | $16.28 | $13.56 | $9.70 |
| Earnings per share | $8.66 | $8.61 | $8.11 | $7.44 | $6.41 | $3.92 | $2.86 | $2.96 | $3.25 | $1.54 |
| Operating cash flow per share | $9.85 | $10.40 | $10.30 | $6.16 | $5.92 | $4.12 | $3.44 | $3.69 | $3.33 | $2.21 |
| Free cash flow per share | $7.05 | $8.98 | $8.99 | $5.26 | $5.19 | $3.66 | $2.97 | $3.08 | $3.01 | $1.98 |
| Cash per share | $10.61 | $11.36 | $8.13 | $2.94 | $5.94 | $6.22 | $3.83 | $3.93 | $6.71 | $3.36 |
| Book value per share | $25.27 | $22.78 | $19.35 | $13.90 | $13.33 | $11.46 | $8.69 | $6.67 | $8.62 | $6.47 |
| Tangible book value per share | $20.40 | $18.01 | $14.58 | $9.30 | $9.43 | $7.54 | $4.93 | $3.18 | $5.14 | $2.98 |
| Dividends per share | $1.71 | $1.43 | $1.15 | $1.00 | $0.91 | $0.85 | $0.82 | $0.59 | $0.40 | $0.40 |
| Capex per share | $2.80 | $1.43 | $1.31 | $0.90 | $0.73 | $0.46 | $0.47 | $0.61 | $0.32 | $0.23 |
| Debt per share | $8.73 | $7.92 | $7.10 | $6.65 | $6.01 | $5.97 | $5.62 | $6.86 | $7.15 | $2.98 |
| Shares outstanding | 808.0M | 834.0M | 845.0M | 877.0M | 919.0M | 923.0M | 945.0M | 1.03B | 1.08B | 1.12B |
| Change in shares outstanding | −3.1% | −1.3% | −3.6% | −4.6% | −0.4% | −2.3% | −7.9% | −5.4% | −2.9% | −9.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 35.5% | 40.6% | 48.0% | 53.4% | 51.6% | 38.5% | 36.0% | 37.5% | 42.5% | 23.2% |
| Return on invested capital (ROIC) | 35.7% | 43.8% | 44.0% | 48.2% | 52.9% | 37.4% | 28.1% | 31.6% | 43.7% | 26.3% |
| Return on assets (ROA) | 19.8% | 22.0% | 23.9% | 24.8% | 24.4% | 17.5% | 14.7% | 16.3% | 20.7% | 11.5% |
| Return on tangible assets | 21.6% | 23.6% | 25.7% | 28.8% | 26.5% | 19.3% | 17.5% | 21.4% | 22.5% | 16.1% |
| Free cash flow margin | 20.1% | 27.6% | 28.6% | 17.9% | 20.7% | 19.7% | 19.2% | 18.9% | 22.2% | 20.4% |
| Income quality (OCF / net income) | 1.14 | 1.21 | 1.27 | 0.83 | 0.92 | 1.05 | 1.20 | 1.25 | 1.03 | 1.43 |
| Financial health | ||||||||||
| Total debt | $7.05B | $6.61B | $6.00B | $5.83B | $5.53B | $5.51B | $5.31B | $7.03B | $7.75B | $3.33B |
| Cash & short-term investments | $8.57B | $9.47B | $6.87B | $2.58B | $5.46B | $5.74B | $3.62B | $4.03B | $7.28B | $3.75B |
| Net debt | −$1.52B | −$2.87B | −$870.0M | $3.25B | $66.0M | −$226.0M | $1.70B | $3.00B | $478.0M | −$424.0M |
| Debt / equity | 0.35 | 0.35 | 0.37 | 0.48 | 0.45 | 0.52 | 0.65 | 1.03 | 0.83 | 0.46 |
| Debt / assets | 0.19 | 0.19 | 0.20 | 0.22 | 0.21 | 0.25 | 0.28 | 0.40 | 0.40 | 0.23 |
| Net debt / EBITDA | −0.15 | −0.33 | −0.10 | 0.39 | 0.01 | −0.05 | 0.44 | 0.59 | 0.11 | −0.17 |
| Current ratio | 2.61 | 2.51 | 2.60 | 2.16 | 2.54 | 3.00 | 2.30 | 2.64 | 3.14 | 2.30 |
| Quick ratio | 1.87 | 1.87 | 1.82 | 1.35 | 1.86 | 2.12 | 1.51 | 1.73 | 2.43 | 1.74 |
| Interest coverage | 30.8 | 31.9 | 32.2 | 34.2 | 29.2 | 18.2 | 14.1 | 19.2 | 19.9 | 13.9 |
| Working capital | $12.88B | $12.75B | $11.78B | $8.55B | $9.76B | $8.91B | $5.76B | $6.68B | $8.80B | $4.72B |
| Invested capital | $18.89B | $16.14B | $15.48B | $15.44B | $12.31B | $10.35B | $9.91B | $9.84B | $9.83B | $6.79B |
| Tangible asset value | $16.48B | $15.02B | $12.32B | $8.15B | $8.66B | $6.96B | $4.67B | $3.26B | $5.57B | $3.31B |
| Net current asset value | $5.00B | $5.81B | $4.77B | $1.39B | $2.53B | $1.59B | −$604.0M | −$187.0M | $2.85B | $982.0M |
| Graham number | $70.17 | $66.42 | $59.43 | $48.25 | $43.83 | $31.80 | $23.66 | $21.07 | $25.10 | $14.98 |
| Graham net-net per share | −$0.44 | $0.95 | −$0.55 | −$4.66 | −$2.45 | −$2.02 | −$3.68 | −$3.04 | $0.39 | −$0.80 |
| Capital allocation | ||||||||||
| Dividends paid | $1.38B | $1.19B | $975.0M | $873.0M | $838.0M | $787.0M | $771.0M | $605.0M | $430.0M | $444.0M |
| Share buybacks (net) | $4.89B | $3.82B | $2.19B | $6.10B | $3.75B | $649.0M | $2.40B | $5.28B | $1.17B | $1.89B |
| Dividend payout ratio | 19.8% | 16.6% | 14.2% | 13.4% | 14.2% | 21.7% | 28.5% | 19.9% | 12.2% | 25.8% |
| Dividends + buybacks / free cash flow | 110.2% | 67.0% | 41.7% | 151.3% | 96.1% | 42.5% | 113.1% | 186.0% | 49.1% | 105.6% |
| Capex / revenue | 8.0% | 4.4% | 4.2% | 3.1% | 2.9% | 2.5% | 3.0% | 3.7% | 2.3% | 2.3% |
| Capex / operating cash flow | 28.4% | 13.7% | 12.7% | 14.6% | 12.3% | 11.1% | 13.6% | 16.4% | 9.6% | 10.3% |
| Capex / depreciation | 5.20 | 3.04 | 2.15 | 1.77 | 1.70 | 1.12 | 1.21 | 1.36 | 0.85 | 0.65 |
| Stock-based compensation / revenue | 2.3% | 2.1% | 1.8% | 1.6% | 1.5% | 1.8% | 1.8% | 1.5% | 1.5% | 1.9% |
| R&D / revenue | 12.6% | 11.9% | 11.7% | 10.7% | 10.8% | 13.0% | 14.1% | 12.1% | 12.1% | 14.2% |
| SG&A / revenue | 6.2% | 6.6% | 6.1% | 5.6% | 5.3% | 6.4% | 6.7% | 6.0% | 6.1% | 7.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 68.8 | 73.4 | 83.3 | 81.3 | 62.6 | 59.5 | 65.0 | 53.6 | 57.3 | 67.7 |
| Days of inventory on hand | 142.1 | 142.5 | 150.5 | 135.5 | 123.4 | 141.6 | 159.7 | 132.1 | 112.4 | 112.2 |
| Days payables outstanding | 44.5 | 39.0 | 41.7 | 42.7 | 39.0 | 40.0 | 81.7 | 102.7 | 73.6 | 42.5 |
| Cash conversion cycle (days) | 166.4 | 176.9 | 192.1 | 174.1 | 147.0 | 161.1 | 143.1 | 83.0 | 96.1 | 137.5 |
| Receivables turnover | 5.31 | 4.97 | 4.38 | 4.49 | 5.83 | 6.14 | 5.61 | 6.81 | 6.37 | 5.39 |
| Payables turnover | 8.21 | 9.37 | 8.74 | 8.55 | 9.36 | 9.14 | 4.47 | 3.55 | 4.96 | 8.58 |
| Inventory turnover | 2.57 | 2.56 | 2.42 | 2.69 | 2.96 | 2.58 | 2.29 | 2.76 | 3.25 | 3.25 |
| Asset turnover | 0.80 | 0.83 | 0.92 | 0.98 | 0.96 | 0.83 | 0.79 | 0.90 | 0.86 | 0.72 |
| Average receivables | $5.34B | $5.47B | $6.05B | $5.74B | $3.96B | $2.80B | $2.60B | $2.45B | $2.31B | $2.01B |
| Average payables | $1.77B | $1.52B | $1.62B | $1.61B | $1.30B | $1.04B | $1.84B | $2.59B | $1.63B | $735.5M |
| Average inventory | $5.67B | $5.57B | $5.83B | $5.12B | $4.11B | $3.69B | $3.60B | $3.33B | $2.49B | $1.94B |
| Intangibles / total assets | 10.8% | 11.6% | 13.1% | 15.1% | 13.9% | 16.2% | 18.7% | 20.1% | 19.5% | 26.7% |
Computed from AMAT's annual financial statements (latest annual report filed December 12, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
AMAT valuation and financial ratios
At the end of fiscal 2025 (October 31, 2025), Applied Materials traded at 26.9 times earnings, against a 10-year median of 18.1. Based on the latest twelve months, the trailing P/E is 35.3 and the forward P/E is 23.4. Applied Materials earned a return on equity of 35.5% and a return on invested capital of 35.7% in fiscal 2025. It ended the year with $7.0 billion of debt and $8.6 billion in cash and short-term investments, a net cash position of $1.5 billion. It returned $6.3 billion to shareholders: $1.4 billion in dividends and $4.9 billion in share buybacks, 110% of free cash flow. The share count fell 27.6% from 1.12B to 808.0M over 9 years.
See the AMAT income statement, the AMAT chart for price history, or the AMAT stock overview for the latest quote and news.
AMAT key metrics FAQ
What is Applied Materials's P/E ratio?
Applied Materials's trailing P/E ratio is 35.3 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 23.4. At the end of fiscal 2025 it was 26.9, compared with a 10-year median of 18.1.
What is Applied Materials's EV/EBITDA?
Applied Materials's enterprise value was 18.7 times EBITDA at the end of fiscal 2025 (enterprise value $186.8 billion, EBITDA $10.0 billion); the current EV/EBITDA is 28.6.
What is Applied Materials's return on equity?
Applied Materials's return on equity (ROE) was 35.5% in fiscal 2025: net income of $7.0 billion on average shareholders' equity of $19.7 billion.
What is Applied Materials's ROIC?
Applied Materials's return on invested capital was 35.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Applied Materials have?
Applied Materials had total debt of $7.0 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.35 and more cash than debt.
What is Applied Materials's dividend yield?
Applied Materials's forward dividend yield is 0.52%. Applied Materials paid $1.4 billion in dividends in fiscal 2025 ($1.71 per share), a payout ratio of 19.8%.
Does Applied Materials buy back its shares?
Yes. Applied Materials spent $4.9 billion on net share repurchases in fiscal 2025 Shares outstanding changed −3.1% over the year, to 808.0M..
What is Applied Materials's free cash flow yield?
Applied Materials generated $5.7 billion of free cash flow in fiscal 2025, a free cash flow yield of 3.0% on its market value at year-end ($188.3 billion).
What is Applied Materials's current ratio?
Applied Materials's current ratio was 2.61 at the end of fiscal 2025: current assets were 2.61 times current liabilities.