Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Applied Materials Inc.AMAT · business equipment | |
|---|---|
| Grade |  Astrongest fifth of 497 graded peers; percentile 11.7, sampling error 2.2 points; lower is stronger |
| Rank | 59 of 497 |
| Profitability | B/Cpercentile 38.2 |
| Solvency | Bpercentile 23.6 |
| Growth and financing | Cpercentile 42.7 |
| Reliability | 0.94 AUCfailure model, filers with over $2.67B assets; 95% interval 0.88 to 0.97; 61 events, 2020 to 2025 |
| Peer failure rate | 0.52% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | over $2.67B assetstotal assets $36.3B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none active |
| Inputs computable | 11 of 14 |
| Graded from | filings received through Dec 12, 2025301 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $508.802026-10-08; market equity $403.8B; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Dec 12, 2025; the document on sec.gov.
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.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 38.2 | |||||||
| Gross profitability | 38.0% | [1,3] | 28.5% | 30.2 | 558 | 2025-10-26 | |
| Return on invested capital | not computable | 10.9% | |||||
| latest aligned inputs end 2020-10-25; latest annual assets end 2025-10-26 | |||||||
| Accruals ratio | (2.7%) | [1,4-6] | (7.4%) | 76.5 | 621 | 2025-10-26 | |
| Gross margin stability, five years | 0.8 pts | [2-3,7-14] | 2.4 pts | 7.9 | 429 | 2025-10-26 | |
| Solvency, sleeve percentile 23.6 | |||||||
| Twelve-month failure probability | 0.03% | 0.05% | 26.0 | 101 | 2026-07-26 | ||
| Altman Z double-prime | 10.17 | [1,15-20] | 2.18 | 8.3 | 566 | 2025-10-26 | |
| Net debt to EBITDA | not computable | 1.11x | |||||
| latest aligned inputs end 2020-10-25; latest annual assets end 2025-10-26 | |||||||
| Interest coverage | not computable | 3.77x | |||||
| latest aligned inputs end 2023-10-29; latest annual assets end 2025-10-26 | |||||||
| Current ratio | 2.61x | [15-16] | 2.02x | 36.5 | 666 | 2025-10-26 | |
| Growth and financing, sleeve percentile 42.7 | |||||||
| Revenue growth, three-year compound | 3.2% | [2,8,10,12] | 6.4% | 58.5 | 538 | 2025-10-26 | |
| Free cash flow growth, three-year compound | 7.3% | [5,21-27] | 17.2% | 61.4 | 268 | 2025-10-26 | |
| Reinvestment rate | 32.0% | [15-16,18,21,28-32] | 14.3% | 43.1 | 226 | 2025-10-26 | |
| Asset growth, three years | 10.7% | [1,6,33-34] | 5.0% | 32.2 | 563 | 2025-10-26 | |
| Net share issuance, one year | (2.5%) | [35-36] | 0.5% | 18.5 | 407 | 2025-12-05 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.358; sampling error 2.2 percentile points on 497 peers.
Among 497 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 54 | Super Micro Computer, Inc. (SMCIP) Super Micro Computer, Inc. (SMCIP) Astrongest fifth; percentile 10.6 Nasdaq · Electronic Computers last close $70.58 Warnings: late filer, fortress balance sheet; 8 of 14 inputs | 10.6 | A | late filer, fortress balance sheet |
| 55 | Meridian Holdings Inc./NV (MRDN) Meridian Holdings Inc./NV (MRDN) Astrongest fifth; percentile 10.9 Nasdaq · Services-Prepackaged Software market equity $137.3M; last close $10.91 No active warnings; 7 of 14 inputs | 10.9 | A | |
| 56 | LiveRamp Holdings, Inc. (RAMP) LiveRamp Holdings, Inc. (RAMP) Astrongest fifth; percentile 11.1 NYSE · Services-Computer Processing & Data Preparation market equity $2.3B; last close $37.56 Warnings: fortress balance sheet; 8 of 14 inputs | 11.1 | A | fortress balance sheet |
| 57 | Universal Display Corp. \Pa\ (OLED) Universal Display Corp. \Pa\ (OLED) Astrongest fifth; percentile 11.3 Nasdaq · Electronic Components & Accessories market equity $3.4B; last close $72.91 No active warnings; 11 of 14 inputs | 11.3 | A | |
| 58 | Logitech International S.A. (LOGI) Logitech International S.A. (LOGI) Astrongest fifth; percentile 11.5 Nasdaq · Computer Peripheral Equipment, NEC market equity $14.5B; last close $101.53 No active warnings; 10 of 14 inputs | 11.5 | A | |
| 59 | Applied Materials Inc. (AMAT) Applied Materials Inc. (AMAT) Astrongest fifth; percentile 11.7 Nasdaq · Semiconductors & Related Devices market equity $404.4B; last close $508.80 No active warnings; 11 of 14 inputs | 11.7 | A | |
| 60 | Braze, Inc. (BRZE) Braze, Inc. (BRZE) Astrongest fifth; percentile 11.9 Nasdaq · Services-Prepackaged Software market equity $3.2B; last close $28.45 No active warnings; 7 of 14 inputs | 11.9 | A | |
| 61 | AvePoint, Inc. (AVPT) AvePoint, Inc. (AVPT) Astrongest fifth; percentile 12.1 Nasdaq · Services-Prepackaged Software market equity $3.0B; last close $14.41 No active warnings; 9 of 14 inputs | 12.1 | A | |
| 62 | D-Wave Quantum Inc. (QBTS) D-Wave Quantum Inc. (QBTS) Astrongest fifth; percentile 12.3 Nasdaq · Services-Computer Processing & Data Preparation market equity $5.4B; last close $14.60 Warnings: dilution; 8 of 14 inputs | 12.3 | A | dilution |
| 63 | OSI Systems Inc. (OSIS) OSI Systems Inc. (OSIS) Astrongest fifth; percentile 12.5 Nasdaq · Semiconductors & Related Devices market equity $3.1B; last close $193.49 No active warnings; 12 of 14 inputs | 12.5 | A | |
| 64 | Zscaler, Inc. (ZS) Zscaler, Inc. (ZS) Astrongest fifth; percentile 12.7 Nasdaq · Services-Computer Programming Services market equity $35.4B; last close $216.88 Warnings: fortress balance sheet; 9 of 14 inputs | 12.7 | A | fortress balance sheet |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | A | 6.9 | 2204 |
| sector peers, equal sleeves (the grade) | A | 11.7 | 497 |
| same exchange, equal sleeves | A | 9.4 | 1219 |
| sector peers, equal inputs | A | 14.1 | 497 |
Each letter is one fifth of the 497 graded peers, about 99 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 125.1% | 2.2% | 94 | hotter than 94 of 100 peers |
| Distance from 52-week high | (29.5%) | (30.0%) | 51 | closer to its high than 51 of 100 peers |
| EBIT to enterprise value | 2.1% | 1.5% | 56 | pricier than 44 of 100 peers |
| Free cash flow yield | 1.4% | 2.7% | 36 | pricier than 64 of 100 peers |
| Book value to price | 0.06 | 0.23 | 18 | pricier than 82 of 100 peers |
| Sales to price | 0.07 | 0.30 | 14 | pricier than 86 of 100 peers |
| Composite equity issuance, five years | (18.8%) | 3.9% | 15 | more equity-funded than 15 of 100 peers |
| Relative strength against the sector, log excess return | 0.53 | (0.26) | 94 | ahead of 94 of 100 peers |
Inputs: market equity $404.4B; EBIT $8.3B; free cash flow $5.7B; book equity $25.6B; sales $28.4B; debt $5.4B; cash $7.0B[37].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: 6 of 9, period end 2025-10-26 | ||
|---|---|---|
| Return on assets above zero | 20.3% | ✓ pass[4,6] |
| Operating cash flow above zero | $8.0B | ✓ pass[5] |
| Return on assets improved | (3.0 pts) | ✗ fail[4,6,33,38] |
| Operating cash flow exceeds net income | $960.0M | ✓ pass[4-5] |
| Long-term leverage fell | 1.5 pts | ✗ fail[1,6,33,39-40] |
| Current ratio improved | 10.5 pts | ✓ pass[15-16,31-32] |
| No new shares issued | (2.5%) | ✓ pass[35-36] |
| Gross margin improved | 1.2 pts | ✓ pass[2-3,7-8] |
| Asset turnover improved | (6.0 pts) | ✗ fail[2,6,8,33] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $7.0B[41] |
| Operating cash flow, four quarters | $8.4B[5,41-45] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 50 |
| 10-Q received Aug 20, 2026 | |
| Median daily dollar volume | $3.2B |
| 63 sessions | |
| Days since newest grade input | 301 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $36.3B | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $28.4B | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 3 | gross profit | us-gaap:GrossProfit | $13.8B | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 4 | net income | us-gaap:NetIncomeLoss | $7.0B | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 5 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $8.0B | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 6 | assets | us-gaap:Assets | $34.4B | 2024-10-27 | 2025-12-12 | 10-K | filing · viewer · series |
| 7 | gross profit | us-gaap:GrossProfit | $12.9B | 2024-10-27 | 2025-12-12 | 10-K | filing · viewer · series |
| 8 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $27.2B | 2024-10-27 | 2025-12-12 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $12.4B | 2023-10-29 | 2025-12-12 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $26.5B | 2023-10-29 | 2025-12-12 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $12.0B | 2022-10-30 | 2024-12-13 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $25.8B | 2022-10-30 | 2024-12-13 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $10.9B | 2021-10-31 | 2023-12-15 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $23.1B | 2021-10-31 | 2023-12-15 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $20.9B | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $8.0B | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 17 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | $55.2B | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 18 | operating income | us-gaap:OperatingIncomeLoss | $8.3B | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 19 | book equity | us-gaap:StockholdersEquity | $20.4B | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 20 | liabilities | us-gaap:Liabilities | $15.9B | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 21 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $2.3B | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 22 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $8.7B | 2024-10-27 | 2025-12-12 | 10-K | filing · viewer · series |
| 23 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $1.2B | 2024-10-27 | 2025-12-12 | 10-K | filing · viewer · series |
| 24 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $8.7B | 2023-10-29 | 2025-12-12 | 10-K | filing · viewer · series |
| 25 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $1.1B | 2023-10-29 | 2025-12-12 | 10-K | filing · viewer · series |
| 26 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $5.4B | 2022-10-30 | 2024-12-13 | 10-K | filing · viewer · series |
| 27 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $787.0M | 2022-10-30 | 2024-12-13 | 10-K | filing · viewer · series |
| 28 | depreciation amortization | us-gaap:Depreciation | $389.0M | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 29 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | $9.3B | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 30 | income tax | us-gaap:IncomeTaxExpenseBenefit | $2.3B | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 31 | current assets | us-gaap:AssetsCurrent | $21.2B | 2024-10-27 | 2025-12-12 | 10-K | filing · viewer · series |
| 32 | current liabilities | us-gaap:LiabilitiesCurrent | $8.5B | 2024-10-27 | 2025-12-12 | 10-K | filing · viewer · series |
| 33 | assets | us-gaap:Assets | $30.7B | 2023-10-29 | 2024-12-13 | 10-K | filing · viewer · series |
| 34 | assets | us-gaap:Assets | $26.7B | 2022-10-30 | 2023-12-15 | 10-K | filing · viewer · series |
| 35 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 792,943,366 | 2025-12-05 | 2025-12-12 | 10-K | filing · viewer · series |
| 36 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 813,684,638 | 2024-12-06 | 2024-12-13 | 10-K | filing · viewer · series |
| 37 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 793,597,443 | 2026-07-26 | 2026-08-20 | 10-Q | filing · viewer · series |
| 38 | net income | us-gaap:NetIncomeLoss | $7.2B | 2024-10-27 | 2025-12-12 | 10-K | filing · viewer · series |
| 39 | long term debt | us-gaap:LongTermDebtNoncurrent | $6.5B | 2025-10-26 | 2025-12-12 | 10-K | filing · viewer · series |
| 40 | long term debt | us-gaap:LongTermDebtNoncurrent | $5.5B | 2024-10-27 | 2025-12-12 | 10-K | filing · viewer · series |
| 41 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $7.0B | 2026-07-26 | 2026-08-20 | 10-Q | filing · viewer · series |
| 42 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $5.6B | 2026-07-26 | 2026-08-20 | 10-Q | filing · viewer · series |
| 43 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $2.5B | 2026-04-26 | 2026-05-21 | 10-Q | filing · viewer · series |
| 44 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $1.7B | 2026-01-25 | 2026-02-19 | 10-Q | filing · viewer · series |
| 45 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $5.1B | 2025-07-27 | 2026-08-20 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 11.7 is 8.3 points from the nearest band edge; sampling error is 2.2 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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