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Applied Materials AMAT Q4 2025 Annual earnings

Reported December 12, 2025

Revenue$6.8BBeat by $116.4MDiluted EPS$2.17Beat by $0.06
Revenue estimate$6.7B
EPS estimate$2.11

Next report

Aug 13, 2026 (in a month)
Revenue estimate$9.0B
EPS estimate$3.35

Financials

Q4 2025

Income statement

See full
Revenue$6.8B-3.5%
Gross profit$3.3B-2.1%
Operating income$1.7B-16.3%
Net income$1.9B+9.6%
EPS (diluted)$2.37+13.4%

Balance sheet

See full
Cash & equivalents$1.4B+8.1%
Total debt$7.1B+6.7%
Total equity$20.4B+7.4%
Total assets$36.3B+5.5%

Cash flow

See full
Operating cash flow$2.8B+9.8%
CapEx$785.0M+92.9%
Free cash flow$2.0B-5.8%

Valuation & ratios

Valuation

as of 10/26/25
See full
Market cap$185.7B+24.1%
Enterprise value$191.33B+23.4%
P/E26.5×+5.7×
P/S6.5×+1.0×

Profitability

See full
Gross margin48.7%+1.2pp
Operating margin29.2%+0.3pp
Net margin24.7%-1.7pp
FCF margin20.1%-7.5pp

Returns & leverage

See full
Return on equity35.5%-5.1pp
Debt / equity0.3×0.0×
Current ratio2.6×+0.1×

Segments

By segment

See full
Semiconductor Systems$4.8B—
Applied Global Services$1.6B—

Versus estimates

Revenue

Q2 2026$7.9BBeat by $226.7MQ1 2026$7.0BBeat by $141.9M
Q4 2025$6.8BBeat by $116.4M
Q3 2025$7.3BBeat by $80.0MQ2 2025$7.1BMiss by $28.6MQ1 2025$7.2BBeat by $18.2M

Diluted EPS

Q2 2026$2.86Beat by $0.18Q1 2026$2.38Beat by $0.17
Q4 2025$2.17Beat by $0.06
Q3 2025$2.48Beat by $0.12Q2 2025$2.39Beat by $0.08Q1 2025$2.38Beat by $0.10

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Questions, answered.

When did Applied Materials report Q4 2025 earnings?
Applied Materials (AMAT) reported Q4 2025 earnings on December 12, 2025.
What were Applied Materials's Q4 2025 revenue and EPS?
Applied Materials reported revenue of $6.8B and diluted EPS of $2.17 for Q4 2025.
Did Applied Materials beat estimates in Q4 2025?
Revenue beat the consensus estimate of $6.7B by $116.4M. EPS beat the consensus estimate of $2.11 by $0.06.
How did Applied Materials's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 3.5% from $7.0B a year earlier and diluted EPS declined 6.5% from $2.32.
Where can I find Applied Materials's Q4 2025 SEC filings?
You can read the 10-K periodic report (0001628280-25-056742) directly on SEC EDGAR. The filing index links above go to sec.gov.