Earnings quality
Compare earnings and operating cash flow for earnings quality.
Applied Materials, Inc.
Ticker AMAT · 🇺🇸 United States · Consolidated US GAAP · amounts in dollars
Filed 2025-12-12 · Period end 2025-10-26
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 29.2%; equity ratio is 56.2%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin29.2%
Equity ratio56.2%
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
APPLIED MATERIALS INC /DE is a US-listed company with consolidated financial statements filed on SEC EDGAR.
Compare trends
Tel 4085635300 · As of filing date 2025-12-12
Financial statements
Income statement
| Account | FY2024 (ended Oct 27, 2024) | FY2025 (ended Oct 26, 2025) |
|---|---|---|
| Revenue | $27.2B | $28.4B |
| Cost of sales* | $14.3B | $14.6B |
| Gross profit | $12.9B | $13.8B |
| Operating profit | $7.9B | $8.3B |
| Income tax | $975.0M | $2.3B |
| Net income | $7.2B | $7.0B |
| Basic EPS | 8.68 | 8.71 |
Balance sheet
| Account | FY2024 (ended Oct 27, 2024) | FY2025 (ended Oct 26, 2025) |
|---|---|---|
| Cash & equivalents | $8.0B | $7.2B |
| Current assets | $21.2B | $20.9B |
| Non-current assets* | $13.2B | $15.4B |
| Total assets | $34.4B | $36.3B |
| Current liabilities | $8.5B | $8.0B |
| Non-current liabilities* | $6.9B | $7.9B |
| Total liabilities | $15.4B | $15.9B |
| Stockholders’ equity | $19.0B | $20.4B |
Cash flow statement
| Account | FY2024 (ended Oct 27, 2024) | FY2025 (ended Oct 26, 2025) |
|---|---|---|
| Operating cash flow | $8.7B | $8.0B |
| Investing cash flow | -$2.3B | -$2.8B |
| Financing cash flow | -$4.5B | -$6.0B |
| Cash at end of period | $8.0B | $7.2B |
Five-year trends
Key metrics
| Metric | Trend | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $23.1B | $25.8B | $26.5B | $27.2B | $28.4B | |
| Operating profit | $6.9B | $7.8B | $7.7B | $7.9B | $8.3B | |
| Net income | $5.9B | $6.5B | $6.9B | $7.2B | $7.0B | |
| Total assets | $25.8B | $26.7B | $30.7B | $34.4B | $36.3B | |
| Cash & equivalents | $5.0B | $2.0B | $6.1B | $8.0B | $7.2B | |
| Stockholders’ equity | $12.2B | $12.2B | $16.3B | $19.0B | $20.4B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Constructive
Sales and operating profit both moved in a healthier direction.
On the income statement, revenue moved from $27.2B to $28.4B (▲ +4.4%). Operating profit went from $7.9B to $8.3B (▲ +5.4%).
Operating cash flow was $8.0B (prior $8.7B), with cash on the balance sheet at $7.2B versus $8.0B.
Liquidity & leverage
Cash moved from $8.0B to $7.2B; current liabilities $8.0B.
Capital buffer
Stockholders’ equity moved from $19.0B to $20.4B.
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Source: SEC EDGAR 0001628280-25-056742
(APPLIED MATERIALS INC /DE), period end 2025-10-26.