Financials Applied Materials, Inc.

Equities

AMAT

US0382221051

Semiconductor Equipment & Testing

Market Closed - Nasdaq Other stock markets 04:00:00 2024-06-03 pm EDT			After market 04:19:36 pm
214.2 ^USD	-0.40%		212.1	-0.97%

09:19am	Applied Materials Insider Sold Shares Worth $1,597,650, According to a Recent SEC Filing	MT
May. 30	Transcript : Applied Materials, Inc. Presents at Bernstein?s 40th Annual Strategic Decisions Conference, May-30-2024 02:30 PM

Valuation

Fiscal Period: Oktober	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	51,287	54,340	123,385	77,187	109,837	178,081	-	-
Enterprise Value (EV) ¹	52,982	54,050	123,378	80,063	108,529	176,466	174,362	172,744
P/E ratio	19.4 x	15.2 x	21.4 x	12.1 x	16.2 x	25.4 x	22.5 x	20.3 x
Yield	1.49%	1.46%	0.69%	1.14%	-	0.62%	0.72%	0.77%
Capitalization / Revenue	3.51 x	3.16 x	5.35 x	2.99 x	4.14 x	6.62 x	5.94 x	5.45 x
EV / Revenue	3.63 x	3.14 x	5.35 x	3.11 x	4.09 x	6.56 x	5.81 x	5.29 x
EV / EBITDA	14 x	11 x	16 x	9.64 x	13.2 x	21.5 x	18.4 x	16.5 x
EV / FCF	18.9 x	16 x	25.8 x	17.4 x	14.3 x	25.9 x	25 x	21.7 x
FCF Yield	5.3%	6.26%	3.87%	5.76%	7%	3.86%	4%	4.6%
Price to Book	6.19 x	5.14 x	10 x	6.41 x	6.75 x	9.9 x	8.81 x	7.85 x
Nbr of stocks (in thousands)	923,754	913,283	902,929	860,309	836,534	827,975	-	-
Reference price ²	55.52	59.50	136.6	89.72	131.3	215.1	215.1	215.1
Announcement Date	11/14/19	11/12/20	11/18/21	11/17/22	11/16/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: October	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	14,608	17,202	23,063	25,785	26,517	26,908	30,001	32,679
EBITDA ¹	3,790	4,905	7,716	8,305	8,234	8,221	9,458	10,470
EBIT ¹	3,427	4,529	7,322	7,861	7,719	7,766	8,964	10,141
Operating Margin	23.46%	26.33%	31.75%	30.49%	29.11%	28.86%	29.88%	31.03%
Earnings before Tax (EBT) ¹	3,269	4,166	6,771	7,599	7,716	8,174	9,169	10,000
Net income ¹	2,706	3,619	5,888	6,525	6,856	7,079	7,885	8,876
Net margin	18.52%	21.04%	25.53%	25.31%	25.86%	26.31%	26.28%	27.16%
EPS ²	2.860	3.920	6.400	7.440	8.110	8.483	9.541	10.57
Free Cash Flow ¹	2,806	3,382	4,774	4,612	7,594	6,809	6,972	7,950
FCF margin	19.21%	19.66%	20.7%	17.89%	28.64%	25.3%	23.24%	24.33%
FCF Conversion (EBITDA)	74.04%	68.95%	61.87%	55.53%	92.23%	82.82%	73.72%	75.93%
FCF Conversion (Net income)	103.7%	93.45%	81.08%	70.68%	110.76%	96.18%	88.42%	89.56%
Dividend per Share ²	0.8300	0.8700	0.9400	1.020	-	1.330	1.542	1.666
Announcement Date	11/14/19	11/12/20	11/18/21	11/17/22	11/16/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: October	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
Net sales ¹	6,271	6,245	6,520	6,749	6,739	6,630	6,425	6,723	6,707	6,646	6,657	6,914	7,161	7,453	7,605
EBITDA ¹	2,087	2,024	2,061	2,133	2,107	2,059	1,954	2,114	2,072	2,023	1,995	2,116	2,185	2,359	2,382
EBIT ¹	1,985	1,913	1,953	2,010	1,987	1,930	1,818	1,984	1,981	1,927	1,878	1,985	2,100	2,238	2,302
Operating Margin	31.65%	30.63%	29.95%	29.78%	29.49%	29.11%	28.3%	29.51%	29.54%	28.99%	28.22%	28.7%	29.32%	30.03%	30.27%
Earnings before Tax (EBT) ¹	1,925	1,864	1,861	1,949	1,961	1,777	1,806	2,172	2,303	1,994	1,907	2,009	2,173	2,363	2,418
Net income ¹	1,792	1,536	1,606	1,591	1,717	1,575	1,560	2,004	2,019	1,722	1,677	1,752	1,859	1,977	2,037
Net margin	28.58%	24.6%	24.63%	23.57%	25.48%	23.76%	24.28%	29.81%	30.1%	25.91%	25.19%	25.34%	25.96%	26.52%	26.78%
EPS ²	2.000	1.740	1.850	1.850	2.020	1.860	1.850	2.380	2.410	2.060	2.008	2.121	2.244	2.419	2.510
Dividend per Share ²	0.2400	0.2600	0.2600	0.2600	-	0.3200	-	0.3200	0.3200	-	0.3689	0.3689	0.3829	0.3943	0.4250
Announcement Date	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	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: October	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,695	-	-	2,876	-	-	-	-
Net Cash position ¹	-	290	7	-	1,308	1,615	3,719	5,337
Leverage (Debt/EBITDA)	0.4472 x	-	-	0.3463 x	-	-	-	-
Free Cash Flow ¹	2,806	3,382	4,774	4,612	7,594	6,809	6,972	7,950
ROE (net income / shareholders' equity)	38.2%	40.9%	55.1%	55.3%	48%	39.9%	37.9%	36.9%
ROA (Net income/ Total Assets)	15.7%	18.6%	26.1%	25.7%	23.9%	22.5%	22.7%	23.9%
Assets ¹	17,251	19,473	22,560	25,377	28,728	31,469	34,682	37,209
Book Value Per Share ²	8.970	11.60	13.60	14.00	19.50	21.70	24.40	27.40
Cash Flow per Share ²	3.440	4.120	5.920	6.160	10.30	8.820	9.330	10.30
Capex ¹	441	422	668	787	1,106	1,026	1,138	1,312
Capex / Sales	3.02%	2.45%	2.9%	3.05%	4.17%	3.81%	3.79%	4.01%
Announcement Date	11/14/19	11/12/20	11/18/21	11/17/22	11/16/23	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Applied Materials, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

A-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

215.1 USD

Average target price

231.3 USD

Spread / Average Target

+7.56%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Semiconductor Machinery Manufacturing

	1st Jan change	Capi.
APPLIED MATERIALS, INC.	+34.07%	178B
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NAURA TECHNOLOGY GROUP CO., LTD.	+19.39%	21.51B
HANMI SEMICONDUCTOR CO., LTD.	+162.07%	11.28B
BE SEMICONDUCTOR INDUSTRIES N.V.	-1.43%	11.28B
ADVANCED MICRO-FABRICATION EQUIPMENT INC. CHINA	-15.53%	11.11B
KOKUSAI ELECTRIC CORPORATION	+39.64%	6.39B
PIOTECH INC.	-19.90%	4.81B

Semiconductor Machinery Manufacturing