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Screener / SEC EDGAR /CIK 0000006951 /10-K filed Dec 12, 2025, compared with Dec 13, 2024 /Numbers from the XBRL of the 10-Ks
Technology peers:
FLEXSNDKLRCXAMATADBEAPH
Nasdaq Technology · Semiconductors

Applied Materials AMAT

AMAT quote by TradingView

Applied Materials, Inc. is the leader in the materials engineering solutions used to produce virtually every semiconductor in the world. 10-K, Item 1

Headquarters
Santa Clara, CA
CEO
Gary E. Dickerson
Next results
around Feb 11, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $28.4B through the costs to a net profit of $7.0B · income statement of the 10-K

29% operating margin
Revenue to Gross profit: $13.8BRevenue to Cost of revenue: $14.6BGross profit to Operating profit: $8.3BGross profit to Operating expenses: $5.5BOperating profit to Net profit: $6.0BOperating profit to Tax: $2.3BOther income to Net profit: $982.0MOperating expenses to R&D: $3.6BOperating expenses to Sales, admin & other: $1.9B Revenue: $28.4B REVENUE $28.4B +4% Y/Y Gross profit: $13.8B · 49% margin GROSS PROFIT $13.8B 49% margin · +7% Y/Y Cost of revenue: $14.6B · 51% of revenue COST OF REVENUE $14.6B 51% of revenue Operating profit: $8.3B · 29% margin OPERATING PROFIT $8.3B 29% margin · +5% Y/Y Other income: $982.0M · 3% of revenue OTHER INCOME $982.0M 3% of revenue Operating expenses: $5.5B · 19% of revenue OPERATING EXPENSES $5.5B 19% of revenue Net profit: $7.0B · 25% margin NET PROFIT $7.0B 25% margin · −2% Y/Y Tax: $2.3B · 8% of revenue TAX $2.3B 8% of revenue R&D: $3.6B · 13% of revenue R&D $3.6B 13% of revenue Sales, admin & other: $1.9B · 7% of revenue SALES, ADMIN & OTHER $1.9B 7% of revenue
Gross profit $13.8B 49% margin · +7% Y/Y
Operating profit $8.3B 29% margin · +5% Y/Y
Net profit $7.0B 25% margin · −2% Y/Y
The full income statement, year by year

AMAT among Technology peers

Six ratios from the latest 10-K. Each corner is the share of 74 peers the company is above, not a score.

Compare
Revenue growth: 4.4%, above 11% of 74 peers (their median 14.1%) REVENUE GROWTH 4.4% · above 11% Gross margin: 49.4%, above 34% of 67 peers (their median 58.0%) GROSS MARGIN 49.4% · above 34% Operating margin: 29.6%, above 67% of 70 peers (their median 22.2%) OPERATING MARGIN 29.6% · above 67% Net margin: 30.1%, above 76% of 74 peers (their median 18.9%) NET MARGIN 30.1% · above 76% FCF margin: 18.2%, above 37% of 70 peers (their median 23.7%) FCF MARGIN 18.2% · above 37% Return on capital: 18.8%, above 75% of 61 peers (their median 12.6%) RETURN ON CAPITAL 18.8% · above 75%
AMAT Peer median Below the median

What changed

9 new risk paragraphs. 10-K filed Dec 12, 2025 against Dec 13, 2024.

Risk factors
9 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Accounting checks
11 other checks clear
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

0facts worth reading about all 11 checks found nothing to note

  • Receivables -0.9% vs revenue +4.4% (-5.3 pts)
  • Cash from operations $8.0B vs net income $7.0B (FY ending Oct 26, 2025)
  • Inventory +9.1% vs revenue +4.4% (+4.7 pts)
8 more checks with nothing to note
  • Same auditor in both 10-Ks: KPMG LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • The same matters as last year: Evaluation of sufficiency of audit evidence over revenue; KPMG LLP
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

9 paragraphs in Risk Factors that were not in the 10-K filed Dec 13, 2024. Quoted as filed.

All 9 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Dec 13, 2024 10-K, ITEM 1A
    Our business, financial condition and results of operations may be adversely affected by uncertainty and changes in trade policies, including tariffs, and trade disputes between the United States and other countries. The United States has announced changes to its trade policy, including increased tariffs on imports. These actions have…
  2. Item 1A · new paragraph · not in the 10-K filed Dec 13, 2024 10-K, ITEM 1A
    Any of these events impacting our supply chain could affect our ability to meet our customers’ demand, result in higher costs to us and have an adverse effect on customer relationships and our business, financial condition and results of operations.
  3. Item 1A · new paragraph · not in the 10-K filed Dec 13, 2024 10-K, ITEM 1A
    As of October 26, 2025, we had $6.5 billion in aggregate principal amount of senior unsecured notes outstanding. Under the indenture governing the senior unsecured notes, we may be required to offer to repurchase the notes at a price equal to

New risk paragraphs, against peers

Latest 10-K of each, Technology companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$25.8B$26.5B$27.2B$28.4B
Net income$6.5B$6.9B$7.2B$7.0B
Operating cash flow$5.4B$8.7B$8.7B$8.0B
Free cash flow$4.6B$7.6B$7.5B$5.7B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$28.4B ▲ 4.4% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Applied Materials, Santa Clara, CA · from the 10-K filed Dec 12, 2025

Applied Materials, Inc. is the leader in the materials engineering solutions used to produce virtually every semiconductor in the world. Semiconductors provide the foundation for advances in technology that are reshaping the global economy, including artificial intelligence, the internet of things, robotics, electric and autonomous vehicles, and clean energy. We are experts in the design, development, production, and servicing of the critical wafer fabrication tools our customers need to manufacture semiconductors.

Headquarters
Santa Clara, CA
Country
United States
Listed on
Nasdaq
Fiscal year ends
October 26
Last results
Nov 12, 2026
Incorporated in
DC

Email alerts

Sources

The 10-K filed Dec 12, 2025 (open at SEC), compared with the 10-K filed Dec 13, 2024. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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