Last 47 quarters of trend data · Technology · Semiconductors
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Applied Materials, Inc.'s quarterly P/E stands at 24.0x, up 7.7% year-over-year. EV/EBITDA has expanded 41.0% YoY to 25.0x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 42.99 | 24.03 | 21.01 | 14.41 | 32.20 | 22.31 | 25.18 | 24.68 | 17.31 | 13.79 | 20.53 | 15.19 | 13.92 |
| — | +7.7% | -16.6% | -41.6% | +86.0% | +61.8% | +22.6% | +62.5% | +24.3% | +13.8% | +43.4% | -4.2% | -15.9% | |
| P/S Ratio | 10.41 | 6.71 | 5.16 | 4.35 | 5.34 | 5.48 | 6.34 | 6.40 | 5.21 | 4.11 | 4.98 | 3.61 | 3.54 |
| — | +22.5% | -18.7% | -32.0% | +2.5% | +33.3% | +27.4% | +77.2% | +47.0% | +44.0% | +41.0% | -7.5% | -25.2% | |
| P/B Ratio | 14.74 | 8.94 | 7.72 | 6.51 | 8.21 | 8.13 | 9.13 | 9.34 | 8.02 | 6.76 | 8.48 | 6.78 | 7.12 |
| — | +10.0% | -15.4% | -30.3% | +2.5% | +20.2% | +7.7% | +37.9% | +12.6% | +7.0% | +11.1% | -19.5% | -28.8% | |
| P/FCF | 51.81 | 22.34 | 18.37 | 29.10 | 70.29 | 17.81 | 20.59 | 37.45 | 16.66 | 22.18 | 13.74 | 11.75 | 12.04 |
| — | +25.4% | -10.8% | -22.3% | +321.8% | -19.7% | +49.9% | +218.7% | +38.4% | -27.0% | -24.9% | -90.1% | +1.9% | |
| EV / EBITDA | 35.07 | 25.02 | 18.76 | 13.65 | 16.81 | 17.74 | 20.91 | 21.03 | 16.86 | 13.14 | 16.51 | 11.92 | 11.73 |
| — | +41.0% | -10.3% | -35.1% | -0.3% | +35.0% | +26.6% | +76.4% | +43.7% | +37.5% | +41.3% | -4.4% | -18.3% | |
| EV / EBIT | 35.53 | 19.50 | 14.45 | 12.97 | 17.55 | 19.51 | 21.05 | 20.57 | 14.69 | 12.38 | 17.15 | 12.73 | 12.14 |
| — | -0.0% | -31.4% | -36.9% | +19.5% | +57.6% | +22.8% | +61.7% | +21.0% | +22.0% | +38.9% | -2.1% | -19.3% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Applied Materials, Inc.'s operating margin was 25.2% in Q4 2025, down 5.4 pp QoQ and down 3.9 pp YoY. The trailing four-quarter average of 29.2% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.7% | 48.0% | 48.8% | 49.1% | 48.8% | 47.3% | 47.3% | 47.4% | 47.8% | 47.1% | 46.3% | 46.7% | 46.7% |
| — | +1.4% | +3.2% | +3.5% | +2.1% | +0.4% | +2.1% | +1.7% | +2.4% | +2.6% | +0.5% | -0.4% | -1.1% | |
| Operating Margin | 29.2% | 25.2% | 30.6% | 30.5% | 30.4% | 29.0% | 28.7% | 28.8% | 29.3% | 29.3% | 28.0% | 28.8% | 29.2% |
| — | -13.3% | +6.7% | +6.2% | +3.5% | -0.9% | +2.2% | -0.2% | +0.3% | -0.8% | -5.0% | -5.0% | -7.2% | |
| Net Margin | 24.7% | 27.9% | 24.4% | 30.1% | 16.5% | 24.6% | 25.2% | 25.9% | 30.1% | 29.8% | 24.3% | 23.8% | 25.5% |
| — | +13.5% | -3.1% | +16.2% | -45.1% | -17.6% | +3.6% | +9.1% | +18.1% | +26.4% | -1.4% | -3.4% | -10.8% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 35.5% | 9.5% | 9.3% | 11.4% | 6.3% | 9.1% | 9.2% | 9.7% | 12.0% | 12.7% | 10.7% | 11.4% | 13.4% |
| — | +3.9% | +0.5% | +17.6% | -47.3% | -28.2% | -13.8% | -15.5% | -10.8% | -2.8% | -21.4% | -12.6% | -9.7% | |
| ROA | 19.8% | 5.4% | 5.2% | 6.4% | 3.5% | 5.1% | 5.2% | 5.4% | 6.5% | 6.6% | 5.2% | 5.5% | 6.3% |
| — | +5.8% | +0.9% | +17.6% | -46.1% | -22.4% | -0.9% | -1.8% | +3.3% | +9.0% | -15.7% | -8.5% | -10.2% | |
| ROIC | 33.3% | 6.2% | 8.3% | 8.5% | 8.9% | 8.8% | 8.5% | 8.5% | 9.0% | 9.4% | 8.8% | 9.1% | 9.2% |
| — | -29.1% | -2.1% | -0.5% | -0.8% | -6.4% | -3.2% | -6.0% | -2.5% | -2.4% | -11.7% | -15.6% | -21.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Applied Materials, Inc.'s Debt/EBITDA ratio is 3.9x, up from 3.3x last quarter — at a moderate level that warrants monitoring. Debt/Equity has declined for 4 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.32 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.33 | 0.34 | 0.37 | 0.40 | 0.43 | 0.46 |
| — | -0.7% | -2.1% | +6.7% | +2.9% | -5.3% | -12.4% | -23.9% | -24.6% | -23.2% | -16.7% | -14.2% | -5.8% | |
| Debt / EBITDA | 0.78 | 3.87 | 3.34 | 2.94 | 2.89 | 3.06 | 3.27 | 2.99 | 2.91 | 2.86 | 3.15 | 3.00 | 2.93 |
| — | +26.3% | +2.0% | -1.7% | -0.7% | +7.3% | +4.1% | -0.5% | -0.6% | +3.7% | +9.2% | +2.9% | +5.7% | |
| Current Ratio | 2.61 | 2.61 | 2.50 | 2.46 | 2.68 | 2.51 | 2.86 | 2.80 | 2.71 | 2.60 | 2.30 | 2.26 | 2.31 |
| — | +4.2% | -12.5% | -11.9% | -1.3% | -3.5% | +24.6% | +23.9% | +17.6% | +20.3% | +1.6% | -1.5% | -8.1% | |
| Quick Ratio | 1.87 | 1.87 | 1.76 | 1.76 | 1.96 | 1.87 | 2.09 | 1.97 | 1.91 | 1.82 | 1.59 | 1.50 | 1.47 |
| — | +0.3% | -15.5% | -10.9% | +2.7% | +2.5% | +31.5% | +31.2% | +30.1% | +34.4% | +9.4% | -2.3% | -17.6% | |
| Interest Coverage | 30.81 | 24.11 | 33.83 | 31.90 | 33.98 | 31.00 | 30.83 | 32.41 | 33.34 | 33.98 | 30.03 | 31.33 | 33.39 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Start ComparisonApplied Materials, Inc.'s current P/E is 43.0x. The average P/E over the last 4 quarters is 22.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Applied Materials, Inc.'s current operating margin is 29.2%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Applied Materials, Inc.'s business trajectory between earnings reports.