Monday, 9 November 2026
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Leader in materials engineering solutions for semiconductors

Applied Materials

Latest quarter: Q3 FY2026, ended July 2026

AMAT · NasdaqEquipment

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About the company

Applied Materials is one of the largest suppliers of semiconductor manufacturing equipment. Its Semiconductor Systems segment sells tools for deposition, etching, ion implantation, chemical mechanical planarization, inspection and other process steps used to make logic and memory chips. Applied Global Services provides spare parts, upgrades, services and fab-automation software for its large installed base of equipment. A smaller segment supplies equipment for display manufacturing. Its customers include the world's leading foundries, logic chipmakers and memory producers, and its results track spending on new chip factories and technology transitions.

Silicon Analytica summary based on the company's latest annual report

Key figures

Q3 FY2026 · 26 Jul 2026

Revenue
▲ +24.8% y/y
Operating income
▲ +37.7% y/y
Gross marginCalc.
+1.5 pp y/y
Operating marginCalc.
+3.2 pp y/y
Net income
▲ +42.7% y/y
Free cash flowCalc.
▲ +13.7% y/y

Figures from company filings. Calculated values marked Calc. · Methodology →

How the company earns its revenue

$73.3of every $100Semiconductor Systems$20.8B in FY2025

Total of categories: US$28.4B, reconciles to reported revenue. Different classifications are never added together.

View sources

Quarterly trend

12 available quarters · US GAAP

Revenue, USD (left) · gross margin, % (right) · US GAAPRevenueGross margin$0$2.5B$5B$7.5B$10BQ4 FY2023Q2 FY2024Q4 FY2024Q2 FY2025Q4 FY2025Q2 FY2026Revenue, Q4 FY2023: US$6.7B (Calculated)$6.7BRevenue, Q1 FY2024: US$6.7B (Reported)$6.7BRevenue, Q2 FY2024: US$6.6B (Reported)$6.6BRevenue, Q3 FY2024: US$6.8B (Reported)$6.8BRevenue, Q4 FY2024: US$7.0B (Calculated)$7.0BRevenue, Q1 FY2025: US$7.2B (Reported)$7.2BRevenue, Q2 FY2025: US$7.1B (Reported)$7.1BRevenue, Q3 FY2025: US$7.3B (Reported)$7.3BRevenue, Q4 FY2025: US$6.8B (Calculated)$6.8BRevenue, Q1 FY2026: US$7.0B (Reported)$7.0BRevenue, Q2 FY2026: US$7.9B (Reported)$7.9BRevenue, Q3 FY2026: US$9.1B (Reported)$9.1B40%60%Gross margin, Q4 FY2023: 47.1% (Calculated)Gross margin, Q1 FY2024: 47.8% (Calculated)Gross margin, Q2 FY2024: 47.4% (Calculated)Gross margin, Q3 FY2024: 47.3% (Calculated)Gross margin, Q4 FY2024: 47.3% (Calculated)Gross margin, Q1 FY2025: 48.8% (Calculated)Gross margin, Q2 FY2025: 49.1% (Calculated)Gross margin, Q3 FY2025: 48.8% (Calculated)Gross margin, Q4 FY2025: 48.0% (Calculated)Gross margin, Q1 FY2026: 49.0% (Calculated)Gross margin, Q2 FY2026: 49.9% (Calculated)Gross margin, Q3 FY2026: 50.3% (Calculated)50.3%Source: Applied Materials quarterly filings and results releases · gross margin = gross profit ÷ revenue, calculatedby Silicon AnalyticaSilicon Analyticasiliconanalytica.com/companies/applied-materials
View sources
  • Applied Materials Form 10-K · XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; consolidated statements · Q4 FY2023, Q4 FY2024, Q4 FY2025 · published 12 Dec 2025 · covers
  • Applied Materials Form 10-Q · XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; consolidated statements · Q1 FY2024 · published 20 Feb 2025 · covers
  • Applied Materials Form 10-Q · XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; consolidated statements · Q2 FY2024 · published 22 May 2025 · covers
  • Applied Materials Form 10-Q · XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; consolidated statements · Q3 FY2024 · published 21 Aug 2025 · covers
  • Applied Materials Form 10-Q · XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; consolidated statements · Q1 FY2025, Q1 FY2026 · published 19 Feb 2026 · covers
  • Applied Materials Form 10-Q · XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; consolidated statements · Q2 FY2025, Q2 FY2026 · published 21 May 2026 · covers
  • Applied Materials Form 10-Q · XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; consolidated statements · Q3 FY2025, Q3 FY2026 · published 20 Aug 2026 · covers

Financial statements

Full page →

As filed with the SEC (10-K/10-Q), from XBRL data. US$ millions, except per-share amounts; shares in millions.

Line itemQ3 FY2026To 26 Jul 202610-Q ↗Q2 FY2026To 26 Apr 202610-Q ↗Q1 FY2026To 25 Jan 202610-Q ↗Q4 FY2025To 26 Oct 202510-K ↗Q3 FY2025To 27 Jul 202510-Q ↗
Revenue9,1157,9107,0126,800c7,302
Cost of revenue4,5293,9633,5773,535c3,740
Gross profit4,5863,9473,4353,265c3,562
Gross margin50.3%49.9%49.0%48.0%48.8%
Research & development1,1001,027928917c901
Selling, general & administrative411397411455c428
Operating income3,0752,5231,8311,712c2,233
Operating margin33.7%31.9%26.1%25.2%30.6%
Interest & other, net−168c702c497c555c330c
Pre-tax income2,9073,2252,3282,267c2,563
Income tax369419302370c784
Net income2,5382,8062,0261,897c1,779
Net margin27.8%35.5%28.9%27.9%24.4%
Diluted EPS3.173.512.54—2.22
Diluted shares800799799—802

Columns link to the filing. c Calculated by Silicon Analytica from filed figures (hover for the formula); fourth-quarter flows are fiscal year minus nine months. Margins are calculated. Fourth-quarter per-share figures are not filed separately and are left blank.

View sources (5)
  1. Applied Materials 10-Q filed 20 Aug 2026 · accession 0001628280-26-058235
  2. Applied Materials 10-Q filed 21 May 2026 · accession 0001628280-26-037227
  3. Applied Materials 10-Q filed 19 Feb 2026 · accession 0001628280-26-009694
  4. Applied Materials 10-K filed 12 Dec 2025 · accession 0001628280-25-056742
  5. Applied Materials 10-Q filed 21 Aug 2025 · accession 0000006951-25-000037

Values: SEC XBRL company facts (data.sec.gov), refreshed 8 Nov 2026. A period's original filing is used unless a later filing restated it.

Earnings history

Applied Materials's results by period: revenue, margins and segments from stored filings.

Quarters

Fiscal years

Five-year financial history

US GAAP

Latest 5 completed fiscal years, US GAAP, USD, as reported in annual filings (restated comparatives used where later filings revised them). Ratios and growth are Silicon Analytica calculations from the same records.

Revenue

USD · fiscal years · US GAAP · reported

Revenue (USD)FY2021: US$23.1BUS$23.1BFY202131 Oct 2021FY2022: US$25.8BUS$25.8BFY202230 Oct 2022FY2023: US$26.5BUS$26.5BFY202329 Oct 2023FY2024: US$27.2BUS$27.2BFY202427 Oct 2024FY2025: US$28.4BUS$28.4BFY202526 Oct 2025Silicon AnalyticaApplied Materials Form 10-K filed 2025-12-12

Net income attributable to shareholders

USD · fiscal years · US GAAP · reported

Net income attributable to shareholders (USD)FY2021: US$5.9BUS$5.9BFY202131 Oct 2021FY2022: US$6.5BUS$6.5BFY202230 Oct 2022FY2023: US$6.9BUS$6.9BFY202329 Oct 2023FY2024: US$7.2BUS$7.2BFY202427 Oct 2024FY2025: US$7.0BUS$7.0BFY202526 Oct 2025Silicon AnalyticaApplied Materials Form 10-K filed 2025-12-12
Applied Materials annual results
USDFY2021ended 31 Oct 2021FY2022ended 30 Oct 2022FY2023ended 29 Oct 2023FY2024ended 27 Oct 2024FY2025ended 26 Oct 2025
Revenue
Gross profit
Gross margin
Operating income
Operating margin
Net income (attributable)
Diluted EPS
R&D expense
R&D as % of revenue

Business model and industry role

Semiconductor Systems

This segment sells a wide range of equipment used to fabricate semiconductor chips [1].

Applied Global Services (AGS)

This segment provides services, spares, and factory automation software to customer fabrication plants globally [1].

Corporate and Other

This category includes other businesses, such as manufacturing equipment for the display industry [1].

Who buys it

The company sells to customers serving the foundry, logic, dynamic random access memory (DRAM), and flash memory (NAND) markets 1.

How it earns revenue

Revenue comes from selling semiconductor fabrication systems and from providing services, spares, and factory automation software 1.

What it depends on

Customer spending depends on economic conditions, semiconductor demand, new technologies, factory utilisation, and trade policies 1.

What drives profitabilityIncludes Silicon Analytica view

Competitive factors include technical capability, product differentiation, productivity, cost-effectiveness, and global customer support 1.

Competitive position, drivers and risks

Competitive position

Competitors range from small, single-region companies to global, diversified firms, including potential for increased competition from domestic equipment manufacturers in China 1.

Evidence

The industries in which the company operates are highly competitive and characterized by rapid technological change, with substantial competition existing across all business segments 1.

Growth drivers and conditions

Company view: Our ability to compete depends on commercializing technology in a timely manner, improving products, and developing new products that meet evolving customer requirements 1.

Cyclicality and downside risks

Reported: The rapid pace of technological change can diminish the value of current products, while export controls may provide an advantage to international competitors and spur competition from Chinese manufacturers 1.

What to watch next

  1. Cyclicality of the semiconductor industry
  2. Impact of global trade policies and export regulations
  3. Concentration of revenue from major customers
  4. Pace of technological change and new product development
  5. Management of a globally distributed supply chain

Peer comparison

Compare with another company

Peers not yet selected by the editor. Financials compares latest reported periods and labels mismatched period ends.

Latest analysis on Applied Materials

Markets

Where Every $100 of Chipmaking Equipment Spending Goes

A visual guide to lithography, etch, deposition and the companies supplying the machines behind semiconductor manufacturing.

13 Oct 2026●9 min read●Explainer
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Beyond the Machine Sale: Who Captures the Next Wave of Equipment Spending?

How process complexity, service revenue and changing competition shape the economics of semiconductor equipment.

13 Oct 2026●8 min read●Analysis

Compare with

Applied Materials vs ASML

More data on Applied Materials

Applied Materials income statement and balance sheet

Sources & methodology
  1. Applied Materials Form 10-K for latest fiscal year ↗ · 12 Dec 2025 · Item 1 Business / Item 4 Information on the Company; risk factors

Annual and quarterly figures come from the company's SEC filings (XBRL financial data and, where needed, the filed statements). Each value keeps its filing, period dates and accounting basis. Ratios, growth rates, free cash flow, split-adjusted EPS and derived quarters are Silicon Analytica calculations, shown with their inputs. Percentage growth is not shown when the prior value is zero or negative. Guidance is shown only as company guidance; no analyst consensus is used.

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