Applied Materials, Inc. (AMAT) Q2 FY2026 Financial Statements: Revenue $7.91B, Net income $2.81B
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PeriodQ3 FY2026Q2 FY2026
Archived record for Q2 FY2026. The current period is Q3 FY2026.
Published
Applied Materials reported $7.91 billion in revenue for Q2 FY2026, the quarter ended April 26, 2026, up 11.4% from a year earlier and the highest quarterly revenue in the company's history. Gross margin was 49.9%, up 0.8 points, and operating income reached $2.52 billion, up 16.3%, as the chip equipment maker shipped more leading-edge foundry, logic and DRAM tools and grew its installed-base services business. Net income of $2.81 billion, up 31.3%, and diluted earnings per share of $3.51 both rose far faster than the operating business, mostly on large unrealized gains on equity investments rather than on equipment sales.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $7,910,000,000 | up 11.4% |
| Net income | $2,806,000,000 | up 31.3% |
| Diluted EPS | $3.51 | up 33.5% |
| Operating income | $2,523,000,000 | up 16.3% |
| Gross margin | 49.9% | up 0.8 points |
About this file
| Ticker | AMAT |
|---|---|
| CIK | 0000006951 |
| Company | Applied Materials, Inc. |
| Business type | industrial |
| Schema template | standard (industrial/technology), revenue, cost of products sold, gross profit, operating income, net income, EPS and share counts; cash, debt, assets and equity; operating cash flow, capital expenditures, free cash flow and dividends. Applied Materials is a semiconductor capital-equipment maker, so the standard template fits, extended with reportable-segment revenue and profit (Semiconductor Systems, Applied Global Services, Corporate/Other) and revenue by geography, which are the two cuts that make this business legible. |
| Reporting currency | USD |
| Converted to USD | no |
| Units | actual dollars (not millions); per-share figures and share counts are as stated (per-share amounts in dollars, share counts in actual shares) |
| Fiscal year end | last Sunday of October (52/53-week fiscal year); fiscal 2025 ended October 26, 2025 |
AMAT annual income statement, balance sheet and cash flow
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Fiscal year | 2025 | 2024 | 2023 |
| Period end | 2025-10-26 | 2024-10-27 | 2023-10-29 |
| Period start | 2024-10-28 | 2023-10-30 | 2022-10-31 |
| Weeks in period | 52 | 52 | 52 |
| Source accession | 0001628280-25-056742 | 0001628280-25-056742 | 0001628280-25-056742 |
| Source form | 10-K filed 2025-12-12 | 10-K filed 2025-12-12 (prior-year comparative columns) | 10-K filed 2025-12-12 (earliest comparative column on the income statement and cash flow statement) |
| Income statement | |||
| Revenue | 28,368,000,000 | 27,176,000,000 | 26,517,000,000 |
| Cost of products sold | 14,560,000,000 | 14,279,000,000 | 14,133,000,000 |
| Gross profit | 13,808,000,000 | 12,897,000,000 | 12,384,000,000 |
| Gross margin % | 48.7% | 47.5% | 46.7% |
| Research development and engineering | 3,570,000,000 | 3,233,000,000 | 3,102,000,000 |
| Marketing and selling | 858,000,000 | 836,000,000 | 776,000,000 |
| General and administrative | 910,000,000 | 961,000,000 | 852,000,000 |
| Restructuring charges | 181,000,000 | 0 | 0 |
| Total operating expenses | 5,519,000,000 | 5,030,000,000 | 4,730,000,000 |
| Operating income | 8,289,000,000 | 7,867,000,000 | 7,654,000,000 |
| Operating margin % | 29.2% | 28.9% | 28.9% |
| Interest expense | 269,000,000 | 247,000,000 | 238,000,000 |
| Interest and other income expense net | 1,251,000,000 | 532,000,000 | 300,000,000 |
| Income before income taxes | 9,271,000,000 | 8,152,000,000 | 7,716,000,000 |
| Provision for income taxes | 2,273,000,000 | 975,000,000 | 860,000,000 |
| Effective tax rate % | 24.5% | 12.0% | 11.1% |
| Net income | 6,998,000,000 | 7,177,000,000 | 6,856,000,000 |
| Basic EPS | 8.71 | 8.68 | 8.16 |
| Diluted EPS | 8.66 | 8.61 | 8.11 |
| Basic shares | 804,000,000 | 827,000,000 | 840,000,000 |
| Diluted shares | 808,000,000 | 834,000,000 | 845,000,000 |
| Balance sheet | |||
| Cash and cash equivalents | 7,241,000,000 | 8,022,000,000 | 6,132,000,000 |
| Short term investments | 1,332,000,000 | 1,449,000,000 | |
| Long term investments | 4,327,000,000 | 2,787,000,000 | |
| Cash and investments total | 12,900,000,000 | 12,258,000,000 | |
| Accounts receivable net | 5,185,000,000 | 5,234,000,000 | 5,165,000,000 |
| Inventories | 5,915,000,000 | 5,421,000,000 | 5,725,000,000 |
| Other current assets | 1,208,000,000 | 1,094,000,000 | |
| Total current assets | 20,881,000,000 | 21,220,000,000 | |
| Property plant and equipment net | 4,610,000,000 | 3,339,000,000 | |
| Goodwill | 3,707,000,000 | 3,732,000,000 | 3,732,000,000 |
| Purchased technology and other intangibles net | 226,000,000 | 249,000,000 | |
| Deferred income taxes and other assets | 2,548,000,000 | 3,082,000,000 | |
| Total assets | 36,299,000,000 | 34,409,000,000 | n/a |
| Short term debt | 100,000,000 | 799,000,000 | |
| Accounts payable and accrued expenses | 5,333,000,000 | 4,820,000,000 | |
| Contract liabilities | 2,566,000,000 | 2,849,000,000 | |
| Total current liabilities | 7,999,000,000 | 8,468,000,000 | |
| Long term debt | 6,455,000,000 | 5,460,000,000 | |
| Total debt | 6,555,000,000 | 6,259,000,000 | n/a |
| Income taxes payable noncurrent | 356,000,000 | 670,000,000 | |
| Other liabilities | 1,074,000,000 | 810,000,000 | |
| Total liabilities | 15,884,000,000 | 15,408,000,000 | |
| Total equity | 20,415,000,000 | 19,001,000,000 | 16,349,000,000 |
| Net cash investments less total debt | 6,345,000,000 | 5,999,000,000 | |
| Shares outstanding at period end | 793,000,000 | 818,000,000 | 833,000,000 |
| Book value per share | 25.74 | 23.23 | 19.63 |
| Note | The FY2025 10-K (accession 0001628280-25-056742) presents balance sheets only as of October 26, 2025 and October 27, 2024, so fiscal 2023 total assets and total debt are not available from that filing. The fiscal 2023 balance-sheet amounts it does disclose are included above: cash and cash equivalents from the cash-flow statement's cash reconciliation; accounts receivable, inventories and goodwill from the segment note's fiscal 2023 table; and total stockholders' equity and period-end shares outstanding from the consolidated statements of stockholders' equity, which roll forward from October 30, 2022 and show a balance at October 29, 2023 of $16,349 million of total equity on 833 million shares outstanding. | ||
| Cash flow | |||
| Operating cash flow | 7,958,000,000 | 8,677,000,000 | 8,700,000,000 |
| Depreciation and amortization | 435,000,000 | 392,000,000 | 515,000,000 |
| Share based compensation | 668,000,000 | 577,000,000 | 490,000,000 |
| Capex | 2,260,000,000 | 1,190,000,000 | 1,106,000,000 |
| Free cash flow | 5,698,000,000 | 7,487,000,000 | 7,594,000,000 |
| Cash paid for acquisitions net | 29,000,000 | 0 | 25,000,000 |
| Dividends paid | 1,384,000,000 | 1,192,000,000 | 975,000,000 |
| Share repurchases | 4,895,000,000 | 3,823,000,000 | 2,189,000,000 |
| Investing cash flow | -2,782,000,000 | -2,327,000,000 | -1,535,000,000 |
| Financing cash flow | -5,977,000,000 | -4,470,000,000 | -3,032,000,000 |
| Per share | |||
| Dividends declared per share | 1.78 | 1.52 | 1.22 |
| Dividends declared total | 1,422,000,000 | 1,252,000,000 | 1,022,000,000 |
| Segments | |||
| 1. | |||
| Segment | Semiconductor Systems | Semiconductor Systems | Semiconductor Systems |
| Revenue | 20,798,000,000 | 19,911,000,000 | 19,698,000,000 |
| Cost of products sold | 9,530,000,000 | 9,379,000,000 | 9,456,000,000 |
| Gross profit | 11,268,000,000 | 10,532,000,000 | 10,242,000,000 |
| Research development and engineering | 3,042,000,000 | 2,684,000,000 | 2,544,000,000 |
| Selling general and administrative | 847,000,000 | 867,000,000 | 819,000,000 |
| Restructuring charges | 0 | ||
| Operating income | 7,379,000,000 | 6,981,000,000 | 6,879,000,000 |
| Depreciation and amortization | 192,000,000 | 168,000,000 | 235,000,000 |
| Capital expenditures | 507,000,000 | 425,000,000 | 381,000,000 |
| Accounts receivable | 3,733,000,000 | 3,816,000,000 | 3,943,000,000 |
| Inventories | 3,444,000,000 | 2,988,000,000 | 3,433,000,000 |
| Goodwill | 2,476,000,000 | 2,460,000,000 | 2,460,000,000 |
| 2. | |||
| Segment | Applied Global Services | Applied Global Services | Applied Global Services |
| Revenue | 6,385,000,000 | 6,225,000,000 | 5,732,000,000 |
| Cost of products sold | 4,251,000,000 | 4,088,000,000 | 3,911,000,000 |
| Gross profit | 2,134,000,000 | 2,137,000,000 | 1,821,000,000 |
| Research development and engineering | 126,000,000 | 114,000,000 | 101,000,000 |
| Selling general and administrative | 216,000,000 | 211,000,000 | 191,000,000 |
| Restructuring charges | 0 | ||
| Operating income | 1,792,000,000 | 1,812,000,000 | 1,529,000,000 |
| Depreciation and amortization | 26,000,000 | 22,000,000 | 31,000,000 |
| Capital expenditures | 57,000,000 | 35,000,000 | 39,000,000 |
| Accounts receivable | 1,269,000,000 | 1,297,000,000 | 1,111,000,000 |
| Inventories | 2,301,000,000 | 2,306,000,000 | 2,073,000,000 |
| Goodwill | 1,032,000,000 | 1,032,000,000 | 1,032,000,000 |
| 3. | |||
| Segment | Corporate and Other | Corporate and Other | Corporate and Other |
| Revenue | 1,185,000,000 | 1,040,000,000 | 1,087,000,000 |
| Cost of products sold | 779,000,000 | 812,000,000 | 766,000,000 |
| Gross profit | 406,000,000 | 228,000,000 | 321,000,000 |
| Research development and engineering | 402,000,000 | 435,000,000 | 457,000,000 |
| Selling general and administrative | 705,000,000 | 719,000,000 | 618,000,000 |
| Restructuring charges | 181,000,000 | ||
| Operating income | -882,000,000 | -926,000,000 | -754,000,000 |
| Depreciation and amortization | 217,000,000 | 202,000,000 | 249,000,000 |
| Capital expenditures | 1,696,000,000 | 730,000,000 | 686,000,000 |
| Accounts receivable | 183,000,000 | 121,000,000 | 111,000,000 |
| Inventories | 170,000,000 | 127,000,000 | 219,000,000 |
| Goodwill | 199,000,000 | 240,000,000 | 240,000,000 |
| Revenue by geography | |||
| United States | 3,063,000,000 | 3,818,000,000 | 4,006,000,000 |
| China | 8,529,000,000 | 10,117,000,000 | 7,247,000,000 |
| Korea | 5,608,000,000 | 4,493,000,000 | 4,609,000,000 |
| Taiwan | 6,857,000,000 | 4,010,000,000 | 5,670,000,000 |
| Japan | 2,273,000,000 | 2,154,000,000 | 2,075,000,000 |
| Europe | 962,000,000 | 1,443,000,000 | 2,152,000,000 |
| Southeast Asia | 1,076,000,000 | 1,141,000,000 | 758,000,000 |
| Total outside United States | 25,305,000,000 | 23,358,000,000 | 22,511,000,000 |
| Consolidated total | 28,368,000,000 | 27,176,000,000 | 26,517,000,000 |
AMAT quarterly income statement, balance sheet and cash flow
| FY2026 Q2 (three months ended April 26, 2026) | FY2025 Q2 (three months ended April 27, 2025) | |
|---|---|---|
| Label | FY2026 Q2 (three months ended April 26, 2026) | FY2025 Q2 (three months ended April 27, 2025) |
| Fiscal year | 2026 | 2025 |
| Fiscal quarter | 2 | 2 |
| Period type | three months | three months |
| Period start | 2026-01-26 | 2025-01-27 |
| Period end | 2026-04-26 | 2025-04-27 |
| Source accession | 0001628280-26-037227 | 0001628280-26-037227 |
| Source form | 10-Q filed 2026-05-21 | 10-Q filed 2026-05-21 (prior-year comparative columns) |
| Income statement | ||
| Revenue | 7,910,000,000 | 7,100,000,000 |
| Cost of products sold | 3,963,000,000 | 3,615,000,000 |
| Gross profit | 3,947,000,000 | 3,485,000,000 |
| Gross margin % | 49.9% | 49.1% |
| Research development and engineering | 1,027,000,000 | 893,000,000 |
| Marketing and selling | 233,000,000 | 216,000,000 |
| General and administrative | 164,000,000 | 207,000,000 |
| Legal settlement | 0 | 0 |
| Restructuring charges | 0 | 0 |
| Total operating expenses | 1,424,000,000 | 1,316,000,000 |
| Operating income | 2,523,000,000 | 2,169,000,000 |
| Operating margin % | 31.9% | 30.5% |
| Interest expense | 69,000,000 | 68,000,000 |
| Interest and other income expense net | 771,000,000 | 221,000,000 |
| Income before income taxes | 3,225,000,000 | 2,322,000,000 |
| Provision for income taxes | 419,000,000 | 185,000,000 |
| Effective tax rate % | 13.0% | 8.0% |
| Net income | 2,806,000,000 | 2,137,000,000 |
| Basic EPS | 3.53 | 2.64 |
| Diluted EPS | 3.51 | 2.63 |
| Basic shares | 794,000,000 | 809,000,000 |
| Diluted shares | 799,000,000 | 812,000,000 |
| Balance sheet | ||
| As of | 2026-04-26 | |
| Cash and cash equivalents | 6,301,000,000 | |
| Short term investments | 1,940,000,000 | |
| Long term investments | 5,142,000,000 | |
| Cash and investments total | 13,383,000,000 | |
| Accounts receivable net | 6,372,000,000 | |
| Inventories | 6,343,000,000 | |
| Other current assets | 1,615,000,000 | |
| Total current assets | 22,571,000,000 | |
| Property plant and equipment net | 5,255,000,000 | |
| Goodwill | 3,824,000,000 | |
| Purchased technology and other intangibles net | 330,000,000 | |
| Deferred income taxes and other assets | 3,164,000,000 | |
| Total assets | 40,286,000,000 | |
| Short term debt | 1,199,000,000 | |
| Accounts payable and accrued expenses | 5,229,000,000 | |
| Contract liabilities | 2,570,000,000 | |
| Total current liabilities | 8,998,000,000 | |
| Long term debt | 5,256,000,000 | |
| Total debt | 6,455,000,000 | |
| Income taxes payable noncurrent | 704,000,000 | |
| Other liabilities | 1,419,000,000 | |
| Total liabilities | 16,377,000,000 | |
| Total equity | 23,909,000,000 | |
| Net cash investments less total debt | 6,928,000,000 | |
| Shares outstanding at period end | 793,959,430 | |
| Book value per share | 30.11 | |
| Cash flow | n/a | n/a |
| Cash flow note | The 10-Q presents cash flows only for the six months ended April 26, 2026; no stand-alone three-month cash-flow statement is given. See the six-month period entry. | |
| Per share | ||
| Dividends declared per share | 0.53 | 0.46 |
| Dividends declared total | 420,000,000 | 368,000,000 |
| Segments | ||
| 1. | ||
| Segment | Semiconductor Systems | Semiconductor Systems |
| Revenue | 5,965,000,000 | 5,401,000,000 |
| Cost of products sold | 2,701,000,000 | 2,512,000,000 |
| Gross profit | 3,264,000,000 | 2,889,000,000 |
| Research development and engineering | 865,000,000 | 774,000,000 |
| Selling general and administrative | 307,000,000 | 345,000,000 |
| Operating income | 2,092,000,000 | 1,770,000,000 |
| Depreciation and amortization | 101,000,000 | 73,000,000 |
| Capital expenditures | 120,000,000 | 118,000,000 |
| Accounts receivable | 4,820,000,000 | 4,925,000,000 |
| Inventories | 4,309,000,000 | 3,666,000,000 |
| Goodwill | 2,661,000,000 | 2,544,000,000 |
| 2. | ||
| Segment | Applied Global Services | Applied Global Services |
| Revenue | 1,665,000,000 | 1,420,000,000 |
| Cost of products sold | 1,088,000,000 | 944,000,000 |
| Gross profit | 577,000,000 | 476,000,000 |
| Research development and engineering | 20,000,000 | 18,000,000 |
| Selling general and administrative | 70,000,000 | 80,000,000 |
| Operating income | 487,000,000 | 378,000,000 |
| Depreciation and amortization | 16,000,000 | 12,000,000 |
| Capital expenditures | 14,000,000 | 19,000,000 |
| Accounts receivable | 1,265,000,000 | 1,159,000,000 |
| Inventories | 1,852,000,000 | 1,804,000,000 |
| Goodwill | 964,000,000 | 964,000,000 |
| 3. | ||
| Segment | Other | Other |
| Revenue | 280,000,000 | 279,000,000 |
| Cost of products sold | 174,000,000 | 159,000,000 |
| Gross profit | 106,000,000 | 120,000,000 |
| Research development and engineering | 142,000,000 | 101,000,000 |
| Selling general and administrative | 20,000,000 | -2,000,000 |
| Operating income | -56,000,000 | 21,000,000 |
| Depreciation and amortization | 18,000,000 | 18,000,000 |
| Capital expenditures | 501,000,000 | 373,000,000 |
| Accounts receivable | 287,000,000 | 103,000,000 |
| Inventories | 182,000,000 | 186,000,000 |
| Goodwill | 199,000,000 | 240,000,000 |
| Semiconductor systems revenue mix % | ||
| Foundry, logic and other | 67 | 66 |
| DRAM | 29 | 27 |
| Flash memory (NAND) | 4 | 7 |
| Revenue by geography | ||
| China | 2,087,000,000 | 1,774,000,000 |
| Korea | 1,572,000,000 | 1,562,000,000 |
| Taiwan | 2,155,000,000 | 1,997,000,000 |
| Japan | 623,000,000 | 572,000,000 |
| Southeast Asia | 185,000,000 | 135,000,000 |
| Asia Pacific total | 6,622,000,000 | 6,040,000,000 |
| United States | 941,000,000 | 808,000,000 |
| Europe | 347,000,000 | 252,000,000 |
| Total | 7,910,000,000 | 7,100,000,000 |
| Balance sheet note | The 10-Q's balance sheet presents April 26, 2026 and October 26, 2025 only; no April 27, 2025 balance sheet is shown. The segment note does disclose that at April 27, 2025 accounts receivable were $6,187 million, inventories $5,656 million and goodwill $3,748 million. | |
| Segments note | Recast: effective in the first quarter of fiscal 2026 Applied Materials moved its 200mm equipment business from Applied Global Services into Semiconductor Systems and began fully allocating corporate support costs to the reportable segments. The prior-year segment figures above are the recast figures as presented in the FY26Q2 10-Q, and therefore do not tie to the segment tables in the FY2025 10-K. | |
AMAT year-to-date income statement and cash flow
| FY2026 first half (six months ended April 26, 2026) | |
|---|---|
| Label | FY2026 first half (six months ended April 26, 2026) |
| Fiscal year | 2026 |
| Period type | six months (year to date) |
| Period start | 2025-10-27 |
| Period end | 2026-04-26 |
| Source accession | 0001628280-26-037227 |
| Source form | 10-Q filed 2026-05-21 |
| Income statement | |
| Revenue | 14,922,000,000 |
| Cost of products sold | 7,540,000,000 |
| Gross profit | 7,382,000,000 |
| Gross margin % | 49.5% |
| Research development and engineering | 1,955,000,000 |
| Marketing and selling | 455,000,000 |
| General and administrative | 353,000,000 |
| Legal settlement | 253,000,000 |
| Restructuring charges | 12,000,000 |
| Total operating expenses | 3,028,000,000 |
| Operating income | 4,354,000,000 |
| Operating margin % | 29.2% |
| Interest expense | 138,000,000 |
| Interest and other income expense net | 1,337,000,000 |
| Income before income taxes | 5,553,000,000 |
| Provision for income taxes | 721,000,000 |
| Effective tax rate % | 13.0% |
| Net income | 4,832,000,000 |
| Basic EPS | 6.09 |
| Diluted EPS | 6.05 |
| Basic shares | 794,000,000 |
| Diluted shares | 799,000,000 |
| Cash flow | |
| Operating cash flow | 2,531,000,000 |
| Depreciation and amortization | 262,000,000 |
| Share based compensation | 376,000,000 |
| Capex | 1,281,000,000 |
| Free cash flow | 1,250,000,000 |
| Cash paid for acquisitions net | 175,000,000 |
| Dividends paid | 730,000,000 |
| Share repurchases | 737,000,000 |
| Investing cash flow | -1,739,000,000 |
| Financing cash flow | -1,745,000,000 |
| Per share | |
| Dividends declared per share | 0.99 |
| Dividends declared total | 785,000,000 |
| Segments | |
| 1. | |
| Segment | Semiconductor Systems |
| Revenue | 11,106,000,000 |
| Cost of products sold | 5,048,000,000 |
| Gross profit | 6,058,000,000 |
| Research development and engineering | 1,663,000,000 |
| Selling general and administrative | 623,000,000 |
| Legal settlement | 253,000,000 |
| Restructuring charges | 0 |
| Operating income | 3,519,000,000 |
| Depreciation and amortization | 182,000,000 |
| Capital expenditures | 196,000,000 |
| 2. | |
| Segment | Applied Global Services |
| Revenue | 3,224,000,000 |
| Cost of products sold | 2,110,000,000 |
| Gross profit | 1,114,000,000 |
| Research development and engineering | 38,000,000 |
| Selling general and administrative | 151,000,000 |
| Legal settlement | 0 |
| Restructuring charges | 0 |
| Operating income | 925,000,000 |
| Depreciation and amortization | 30,000,000 |
| Capital expenditures | 24,000,000 |
| 3. | |
| Segment | Other |
| Revenue | 592,000,000 |
| Cost of products sold | 382,000,000 |
| Gross profit | 210,000,000 |
| Research development and engineering | 254,000,000 |
| Selling general and administrative | 34,000,000 |
| Legal settlement | 0 |
| Restructuring charges | 12,000,000 |
| Operating income | -90,000,000 |
| Depreciation and amortization | 50,000,000 |
| Capital expenditures | 1,061,000,000 |
| Semiconductor systems revenue mix % | |
| Foundry, logic and other | 65 |
| DRAM | 31 |
| Flash memory (NAND) | 4 |
| Revenue by geography | |
| China | 4,182,000,000 |
| Korea | 3,030,000,000 |
| Taiwan | 3,877,000,000 |
| Japan | 1,148,000,000 |
| Southeast Asia | 520,000,000 |
| Asia Pacific total | 12,757,000,000 |
| United States | 1,597,000,000 |
| Europe | 568,000,000 |
| Total | 14,922,000,000 |
| Prior year comparative | |
| Label | FY2025 first half (six months ended April 27, 2025) |
| Fiscal year | 2025 |
| Period type | six months (year to date) |
| Period start | 2024-10-28 |
| Period end | 2025-04-27 |
| Source accession | 0001628280-26-037227 |
| Source form | 10-Q filed 2026-05-21 (prior-year comparative columns) |
| Income statement | |
| Revenue | 14,266,000,000 |
| Cost of products sold | 7,285,000,000 |
| Gross profit | 6,981,000,000 |
| Gross margin % | 48.9% |
| Research development and engineering | 1,752,000,000 |
| Marketing and selling | 422,000,000 |
| General and administrative | 463,000,000 |
| Legal settlement | 0 |
| Restructuring charges | 0 |
| Total operating expenses | 2,637,000,000 |
| Operating income | 4,344,000,000 |
| Operating margin % | 30.5% |
| Interest expense | 132,000,000 |
| Interest and other income expense net | 229,000,000 |
| Income before income taxes | 4,441,000,000 |
| Provision for income taxes | 1,119,000,000 |
| Effective tax rate % | 25.2% |
| Net income | 3,322,000,000 |
| Basic EPS | 4.1 |
| Diluted EPS | 4.08 |
| Basic shares | 811,000,000 |
| Diluted shares | 815,000,000 |
| Cash flow | |
| Operating cash flow | 2,496,000,000 |
| Depreciation and amortization | 208,000,000 |
| Share based compensation | 354,000,000 |
| Capex | 891,000,000 |
| Free cash flow | 1,605,000,000 |
| Cash paid for acquisitions net | 29,000,000 |
| Dividends paid | 651,000,000 |
| Share repurchases | 2,988,000,000 |
| Investing cash flow | -676,000,000 |
| Financing cash flow | -3,689,000,000 |
| Per share | |
| Dividends declared per share | 0.86 |
| Dividends declared total | 693,000,000 |
| Segments | |
| 1. | |
| Segment | Semiconductor Systems |
| Revenue | 10,998,000,000 |
| Cost of products sold | 5,123,000,000 |
| Gross profit | 5,875,000,000 |
| Research development and engineering | 1,508,000,000 |
| Selling general and administrative | 725,000,000 |
| Operating income | 3,642,000,000 |
| Depreciation and amortization | 142,000,000 |
| Capital expenditures | 225,000,000 |
| 2. | |
| Segment | Applied Global Services |
| Revenue | 2,773,000,000 |
| Cost of products sold | 1,860,000,000 |
| Gross profit | 913,000,000 |
| Research development and engineering | 32,000,000 |
| Selling general and administrative | 167,000,000 |
| Operating income | 714,000,000 |
| Depreciation and amortization | 24,000,000 |
| Capital expenditures | 23,000,000 |
| 3. | |
| Segment | Other |
| Revenue | 495,000,000 |
| Cost of products sold | 302,000,000 |
| Gross profit | 193,000,000 |
| Research development and engineering | 212,000,000 |
| Selling general and administrative | -7,000,000 |
| Operating income | -12,000,000 |
| Depreciation and amortization | 42,000,000 |
| Capital expenditures | 643,000,000 |
| Segments note | Recast to the fiscal 2026 segment presentation (200mm equipment moved from Applied Global Services to Semiconductor Systems; corporate support costs fully allocated to the reportable segments). |
| Semiconductor systems revenue mix % | |
| Foundry, logic and other | 68 |
| DRAM | 27 |
| Flash memory (NAND) | 5 |
| Revenue by geography | |
| China | 4,017,000,000 |
| Korea | 3,229,000,000 |
| Taiwan | 3,180,000,000 |
| Japan | 1,112,000,000 |
| Southeast Asia | 421,000,000 |
| Asia Pacific total | 11,959,000,000 |
| United States | 1,725,000,000 |
| Europe | 582,000,000 |
| Total | 14,266,000,000 |
AMAT trailing twelve month income statement and cash flow
| 2026-04-26 | |
|---|---|
| Period end | 2026-04-26 |
| Basis | Fiscal 2025 full year plus the six months ended April 26, 2026, less the six months ended April 27, 2025. Built from the FY2025 10-K (accession 0001628280-25-056742) and the FY26Q2 10-Q (accession 0001628280-26-037227); it is a calculated view, not a figure presented in either filing. |
| Revenue | 29,024,000,000 |
| Gross profit | 14,209,000,000 |
| Gross margin % | 49.0% |
| Operating income | 8,299,000,000 |
| Operating margin % | 28.6% |
| Net income | 8,508,000,000 |
| Net margin % | 29.3% |
| Diluted EPS sum of periods | 10.63 |
| Operating cash flow | 7,993,000,000 |
| Capex | 2,650,000,000 |
| Free cash flow | 5,343,000,000 |
| Dividends paid | 1,463,000,000 |
| Share repurchases | 2,644,000,000 |
Adjustments
| Value | |
|---|---|
| Splits applied | none |
| Splits note | No stock splits apply to the periods covered, so earnings per share and share counts are directly comparable across all periods shown. |
| ADR ratio | n/a |
| ADR note | Not an ADR; the shares are ordinary common stock listed on Nasdaq. |
| FX | None applied. Applied Materials reports in U.S. dollars, so no currency conversion was needed. |
AMAT debt and borrowings
| Value | |
|---|---|
| As of | 2026-04-26 |
| Source accession | 0001628280-26-037227 |
| Aggregate principal senior unsecured notes | 6,500,000,000 |
| Commercial paper outstanding | 0 |
| Commercial paper program capacity | 4,000,000,000 |
| Carrying value current portion of long term debt | 1,199,000,000 |
| Carrying value long term debt | 5,256,000,000 |
| Notes | The $1,200 million of 3.300% senior notes due 2027 moved into the current portion of long-term debt at April 26, 2026; total principal outstanding was unchanged at $6.5 billion.; Estimated fair value of the senior unsecured notes at April 26, 2026 was $4.9 billion (excluding associated interest rate swaps entered into in the first quarter of fiscal 2026), against $5.3 billion of long-term principal.; At October 26, 2025 the company had $100 million of commercial paper outstanding (weighted-average rate 4.07%, 35-day maturities) plus $6.5 billion of senior unsecured notes; it had no commercial paper outstanding at April 26, 2026. |
| Maturity schedule principal | |
| 3.300% Senior Notes due 2027 | 1,200,000,000 |
| 4.800% Senior Notes due 2029 | 700,000,000 |
| 1.750% Senior Notes due 2030 | 750,000,000 |
| 4.000% Senior Notes due 2031 | 550,000,000 |
| 5.100% Senior Notes due 2035 | 500,000,000 |
| 4.600% Senior Notes due 2036 | 450,000,000 |
| 5.850% Senior Notes due 2041 | 600,000,000 |
| 4.350% Senior Notes due 2047 | 1,000,000,000 |
| 2.750% Senior Notes due 2050 | 750,000,000 |
| Total principal | 6,500,000,000 |
Notes
- All figures are stated in actual dollars. Both filings present their statements in millions (per-share amounts in dollars), so every dollar amount taken from a statement was multiplied by one million; share counts on the face of the statements are also in millions and were scaled the same way. The one exception is the share count on the 10-Q cover page (793,959,430 shares outstanding at April 26, 2026), which the filing states as an exact number of shares and which is carried through unscaled.
- Annual figures for fiscal 2025, 2024 and 2023 come from the FY2025 10-K (accession 0001628280-25-056742), which presents three years of income statement and cash flow but only two balance-sheet dates. Fiscal 2023 therefore has no complete balance sheet here; the fiscal 2023 balance-sheet amounts that filing does disclose (cash, accounts receivable, inventories, goodwill, total stockholders' equity and period-end shares outstanding) are included and labelled.
- Quarterly and year-to-date figures come from the FY26Q2 10-Q (accession 0001628280-26-037227) for the three and six months ended April 26, 2026, with the prior-year three- and six-month comparatives as presented in that same filing.
- Applied Materials uses a 52/53-week fiscal year ending on the last Sunday of October. Fiscal 2025 (52 weeks) ended October 26, 2025; fiscal 2024 ended October 27, 2024; fiscal 2023 ended October 29, 2023. Period-end dates therefore shift by a few days year to year.
- Revenue is labelled 'Net revenue' in the 10-K and 'Revenue' in the 10-Q; the two are the same line and both are reported here as revenue.
- Free cash flow is calculated as cash provided by operating activities less capital expenditures, both taken directly from the cash flow statement. Neither filing presents free cash flow as a line item.
- Total debt is the sum of short-term debt and long-term debt as carried on the balance sheet. At October 26, 2025 that is $100 million of commercial paper plus $6,455 million of long-term debt; at April 26, 2026 it is $1,199 million (the 3.300% notes due 2027, now current) plus $5,256 million. Aggregate principal of senior unsecured notes was $6.5 billion at both dates.
- Segment presentation changed in fiscal 2026: the 200 millimeter equipment business moved from Applied Global Services into Semiconductor Systems, and corporate support costs are now fully allocated to the reportable segments. Prior-period segment figures were recast in the 10-Q. Because of this, the fiscal 2026 and recast fiscal 2025 quarterly segment tables are not directly comparable to the annual segment tables in the FY2025 10-K, which use the older presentation (with a 'Corporate and Other' category that carried unallocated costs and the Display business). Both presentations are reported here as each filing gives them, and are labelled accordingly.
- In the FY2025 10-K the Display operating segment is no longer reported separately; its results sit inside the 'Corporate and Other' category, which is also where unallocated corporate expense and restructuring charges are carried. That is why 'Corporate and Other' shows revenue alongside a large operating loss.
- Fiscal 2025 includes $181 million of restructuring charges tied to a fourth-quarter workforce reduction plan affecting roughly 4% of the global workforce; there were no restructuring charges in fiscal 2024 or 2023.
- The six months ended April 26, 2026 include a $253 million legal settlement charge. On February 11, 2026 the company settled the U.S. Commerce Department Bureau of Industry and Security inquiry into certain China customer shipments and export controls compliance for $253 million, paid in full during the second quarter of fiscal 2026. The charge is allocated to the Semiconductor Systems segment.
- Interest and other income (expense), net is unusually large and volatile in the most recent periods: $1,251 million in fiscal 2025 (which included a $792 million net gain and impairment reversal on investments) and $1,337 million for the six months ended April 26, 2026 (including $1,138 million of net investment gains). This is investment-portfolio gain, not operating profit, and it inflates net income and reported earnings per share relative to operating income in those periods.
- The effective tax rate swings materially by period, 11.1% in fiscal 2023, 12.0% in fiscal 2024, 24.5% in fiscal 2025, and 13.0% for the six months ended April 26, 2026 (against 25.2% in the prior-year six months). Effective tax rates shown here are calculated from the provision for income taxes divided by income before income taxes as reported.
- Dividends declared per share are taken from the statements of stockholders' equity: $1.22 in fiscal 2023, $1.52 in fiscal 2024, $1.78 in fiscal 2025, $0.86 for the first half of fiscal 2025 and $0.99 for the first half of fiscal 2026. Dividends paid in the cash flow statement differ slightly from dividends declared because of timing.
- Book value per share is calculated as total stockholders' equity divided by shares outstanding at the period end; neither filing presents it as a line item.
- The figures reported here agree with the SEC's XBRL company facts for this company on every item cross-checked, including revenue, net income, total assets, stockholders' equity, operating cash flow, capital expenditures, diluted earnings per share, diluted share count and long-term debt, for all periods presented. No scaling or tagging discrepancy was found.
- No stock splits, no ADR ratio and no currency conversion apply: the company reports in U.S. dollars and no split occurred in or between any of the periods presented.
Uncertainties
- Fiscal 2023 total assets and total debt are left empty. The FY2025 10-K (accession 0001628280-25-056742) presents balance sheets only as of October 26, 2025 and October 27, 2024, so neither figure is available from it, and no older filing was used to fill the gap. Fiscal 2023 total stockholders' equity and period-end shares outstanding are reported, taken from that same filing's consolidated statements of stockholders' equity.
- The 10-Q does not present a three-month cash flow statement, so there is no stand-alone operating cash flow, capital expenditure or free cash flow figure for the quarter ended April 26, 2026 on its own. Cash flow is reported here only for the six-month periods.
- The trailing-twelve-month block is a calculation (fiscal 2025 plus the fiscal 2026 first half, less the fiscal 2025 first half), not a figure either filing presents. The trailing diluted earnings per share shown is the arithmetic sum of the period earnings per share and will differ slightly from net income divided by trailing share count because the weighted-average share count changed across the periods.
- Fiscal 2026 first-quarter results are not broken out separately here. The company's first-quarter fiscal 2026 Form 10-Q is not part of this record, and the second-quarter 10-Q presents only the three- and six-month periods; a first-quarter figure would have to be derived by subtraction rather than read from a statement.
- Segment figures for the fiscal 2025 quarterly comparatives are the recast versions presented in the FY26Q2 10-Q. They will not reconcile to segment figures published in the FY2025 10-K or in filings made before the fiscal 2026 recast.
- Gross margin, operating margin, net margin, effective tax rate and book value per share are calculated from reported figures rather than read from the filings, and may differ in the last decimal from percentages the company shows in its own tables because of rounding at the millions level.
Company details
| Value | |
|---|---|
| Name | Applied Materials Inc /De |
| Ticker | AMAT |
| CIK | 0000006951 |
| Exchange | Nasdaq |
| State | California |
| Incorporation | District of Columbia |
| SIC | 3674 |
| Office | Manufacturing |
| Industry | Semiconductors & Related Devices |
Fiscal period
| FY2026 | |
|---|---|
| Fiscal year | 2026 |
| Fiscal period | Q2 |
| Tag | FY26Q2 |
| Period end | 2026-04-26 |
| Form | 10-Q |
| Accession | 0001628280-26-037227 |
| Fiscal year end | 1026 |
| Source | facts |
FAQ · Applied Materials financial statements
How much revenue did Applied Materials report in Q2 FY2026?
Applied Materials reported $7.91 billion in revenue for Q2 FY2026, the quarter ended April 26, 2026, a record for the company. That is up 11.4% from $7.10 billion in the same quarter a year earlier.
What was Applied Materials' earnings per share in Q2 FY2026?
Applied Materials reported diluted earnings per share of $3.51 for Q2 FY2026, up 33.5% from $2.63 a year earlier. Net income was $2.81 billion.
Why did Applied Materials' net income grow faster than its operating income in Q2 FY2026?
Applied Materials earned $2.81 billion in Q2 FY2026, up 31.3% from $2.14 billion, while operating income was $2.52 billion, up 16.3%. Most of that gap came from unrealized gains on equity investments, which are not part of the semiconductor equipment business.
What was Applied Materials' gross margin in Q2 FY2026?
Applied Materials reported a gross margin of 49.9% in Q2 FY2026, up 0.8 points from 49.1% a year earlier. Operating income was $2.52 billion on $7.91 billion of revenue.
Where can I get Applied Materials, Inc. (AMAT) financial data in machine-readable form?
Ticker Scout publishes Applied Materials, Inc.'s financial statements as JSON at https://tickerscout.ai/amat/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/amat/narrative.md and https://tickerscout.ai/amat/events.md. Applied Materials, Inc.'s SEC CIK is 0000006951. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
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How this page was built
This page was built from two of Applied Materials, Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names six such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
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Built from Applied Materials, Inc.'s SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.