Financials Applied Materials, Inc.

Equities

AMAT

US0382221051

Semiconductor Equipment & Testing

Market Closed - Nasdaq Other stock markets 04:00:00 2026-02-06 pm EST			After hours 04:30:30 pm
322.51 ^USD	+6.09%		325.00	+0.77%

09:31am	Rothschild & Co Redburn Adjusts Price Target on Applied Materials to $310 From $190, Maintains Neutral Rating	MT
08:28am	Markets Ask the Obvious Question

Projected Income Statement: Applied Materials, Inc.

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	23,063	25,785	26,517	27,176	28,368	29,229	33,960	36,763
Change	-	11.8%	2.84%	2.49%	4.39%	3.04%	16.18%	8.25%
EBITDA ¹	7,716	8,305	8,234	8,316	8,997	9,246	11,340	12,453
Change	-	7.63%	-0.85%	1%	8.19%	2.77%	22.64%	9.82%
EBIT ¹	7,322	7,861	7,719	7,924	8,562	8,768	10,848	11,831
Change	-	7.36%	-1.81%	2.66%	8.05%	2.4%	23.73%	9.06%
Interest Paid ¹	-216	-189	62	-247	-269	-281.2	-279.4	-272
Earnings before Tax (EBT) ¹	6,771	7,599	7,716	8,152	9,271	8,631	10,733	12,131
Change	-	12.23%	1.54%	5.65%	13.73%	-6.9%	24.35%	13.03%
Net income ¹	5,888	6,525	6,856	7,177	6,998	7,469	9,257	10,386
Change	-	10.82%	5.07%	4.68%	-2.49%	6.74%	23.93%	12.2%
Announcement Date	11/18/21	11/17/22	11/16/23	11/14/24	11/13/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: October	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	5,162	5,582	6,196	6,123	6,271	6,245	6,520	6,749	6,739	6,630	6,425	6,723	6,707	6,646	6,778	7,045	7,166	7,100	7,302	6,800	6,881	7,021	7,289	7,987	8,504	8,748	8,924	9,123
Change	-	8.14%	11%	-1.18%	2.42%	-0.41%	4.4%	3.51%	-0.15%	-1.62%	-3.09%	4.64%	-0.24%	-0.91%	1.99%	3.94%	1.72%	-0.92%	2.85%	-6.87%	1.19%	2.04%	3.81%	9.58%	6.47%	2.86%	2.01%	2.23%
EBITDA ¹	1,590	1,865	2,127	2,134	2,087	2,024	2,061	2,133	2,107	2,059	1,954	2,114	2,072	2,023	2,048	2,173	2,295	2,283	2,358	2,061	2,133	2,193	2,323	2,703	3,006	3,047	3,166	3,271
Change	-	17.3%	14.05%	0.33%	-2.2%	-3.02%	1.83%	3.49%	-1.22%	-2.28%	-5.1%	8.19%	-1.99%	-2.36%	1.24%	6.1%	5.61%	-0.52%	3.29%	-12.6%	3.51%	2.78%	5.94%	16.39%	11.21%	1.34%	3.91%	3.34%
EBIT ¹	1,496	1,768	2,029	2,029	1,985	1,913	1,953	2,010	1,987	1,930	1,818	1,984	1,981	1,927	1,953	2,063	2,190	2,180	2,245	1,947	1,998	2,064	2,174	2,528	2,722	2,797	2,844	2,920
Change	-	18.18%	14.76%	0%	-2.17%	-3.63%	2.09%	2.92%	-1.14%	-2.87%	-5.8%	9.13%	-0.15%	-2.73%	1.35%	5.63%	6.16%	-0.46%	2.98%	-13.27%	2.62%	3.33%	5.32%	16.24%	7.71%	2.75%	1.68%	2.67%
Charge d'intérêts ¹	-51	-53	-38	-60	-54	-57	-53	-45	-9	-134	4	201	-59	-59	-63	-66	-64	-68	-66	-71	-71.6	-70	-70	-70	-71.67	-71.67	-71.67	-71.67
Earnings before Tax (EBT) ¹	1,240	1,545	1,980	2,006	1,925	1,864	1,861	1,949	1,961	1,777	1,806	2,172	2,303	1,994	1,960	1,895	2,119	2,322	2,563	2,267	1,973	2,023	2,151	2,463	2,779	2,904	3,094	3,242
Change	-	24.6%	28.16%	1.31%	-4.04%	-3.17%	-0.16%	4.73%	0.62%	-9.38%	1.63%	20.27%	6.03%	-13.42%	-1.71%	-3.32%	11.82%	9.58%	10.38%	-11.55%	-12.98%	2.53%	6.36%	14.46%	12.83%	4.52%	6.52%	4.81%
Net income ¹	1,130	1,330	1,716	1,712	1,792	1,536	1,606	1,591	1,717	1,575	1,560	2,004	2,019	1,722	1,705	1,731	1,185	2,137	1,779	1,897	1,716	1,775	1,886	2,162	2,389	2,502	2,586	2,653
Change	-	17.7%	29.02%	-0.23%	4.67%	-14.29%	4.56%	-0.93%	7.92%	-8.27%	-0.95%	28.46%	0.75%	-14.71%	-0.99%	1.52%	-31.54%	80.34%	-16.75%	6.63%	-9.54%	3.44%	6.25%	14.67%	10.47%	4.72%	3.38%	2.55%
Announcement Date	2/18/21	5/20/21	8/19/21	11/18/21	2/16/22	5/19/22	8/18/22	11/17/22	2/16/23	5/18/23	8/17/23	11/16/23	2/15/24	5/16/24	8/15/24	11/14/24	2/13/25	5/15/25	8/14/25	11/13/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Applied Materials, Inc.

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	-7	2,876	-1,308	-3,212	-2,018	-1,513	-2,115	-4,129
Change	-	41,185.71%	-145.48%	-145.57%	37.17%	25.02%	-39.79%	-95.22%
Announcement Date	11/18/21	11/17/22	11/16/23	11/14/24	11/13/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Applied Materials, Inc.

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	668	787	1,106	1,190	2,260	1,996	1,878	1,733
Change	-	17.81%	40.53%	7.59%	89.92%	-11.69%	-5.92%	-7.69%
Free Cash Flow (FCF) ¹	4,774	4,612	7,594	7,487	5,698	5,770	7,409	7,985
Change	-	-3.39%	64.66%	-1.41%	-23.89%	1.27%	28.41%	7.78%
Announcement Date	11/18/21	11/17/22	11/16/23	11/14/24	11/13/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Applied Materials, Inc.

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	33.46%	32.21%	31.05%	30.6%	31.72%	31.63%	33.39%	33.87%
EBIT Margin (%)	31.75%	30.49%	29.11%	29.16%	30.18%	30%	31.94%	32.18%
EBT Margin (%)	29.36%	29.47%	29.1%	30%	32.68%	29.53%	31.6%	33%
Net margin (%)	25.53%	25.31%	25.86%	26.41%	24.67%	25.56%	27.26%	28.25%
FCF margin (%)	20.7%	17.89%	28.64%	27.55%	20.09%	19.74%	21.82%	21.72%
FCF / Net Income (%)	81.08%	70.68%	110.76%	104.32%	81.42%	77.25%	80.04%	76.89%
Profitability
ROA	26.1%	25.71%	23.87%	22.04%	21.52%	19.59%	21.6%	21.2%
ROE	55.09%	55.28%	48.04%	40.61%	38.6%	34.63%	38.43%	37.53%
Financial Health
Leverage (Debt/EBITDA)	-	0.35x	-	-	-	-	-	-
Debt / Free cash flow	-	0.62x	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.9%	3.05%	4.17%	4.38%	7.97%	6.83%	5.53%	4.71%
CAPEX / EBITDA (%)	8.66%	9.48%	13.43%	14.31%	25.12%	21.58%	16.56%	13.92%
CAPEX / FCF (%)	13.99%	17.06%	14.56%	15.89%	39.66%	34.59%	25.34%	21.7%
Items per share
Cash flow per share ¹	5.922	6.156	10.3	10.4	9.849	9.489	11.41	12.16
Change	-	3.96%	67.25%	1.05%	-5.34%	-3.66%	20.29%	6.57%
Dividend per Share ¹	0.94	1.02	1.22	-	1.78	1.907	2.102	2.349
Change	-	8.51%	19.61%	-	-	7.14%	10.2%	11.75%
Book Value Per Share ¹	13.64	14	19.46	22.78	25.27	29.47	34.37	41.03
Change	-	2.65%	39.02%	17.06%	10.9%	16.64%	16.62%	19.37%
EPS ¹	6.4	7.44	8.11	8.61	8.66	9.345	11.94	13.26
Change	-	16.25%	9.01%	6.17%	0.58%	7.91%	27.81%	11.06%
Nbr of stocks (in thousands)	902,929	860,309	836,534	824,404	796,642	793,721	793,721	793,721
Announcement Date	11/18/21	11/17/22	11/16/23	11/14/24	11/13/25	-	-	-