Applied Materials, Inc.

AMATNASDAQTechnology● Active

$493.87

+$40.86(+9.02%)

Market Cap$392.1B

P/E Ratio—

52W High$508.26

52W Low$154.47

Avg Volume6.8M

Open$474.88

Beta1.67

Overview

Applied Materials, Inc. (AMAT) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

AMAT · free cash flow · updated Jun 8, 2026

Core FCF metrics

AMAT · FCF · TTM · margin & CAGR

Free cash flow was $5.70B for FY2025 (fiscal year ending 2025-10-26), down 23.9% year-over-year The FCF margin was 20.1%. Five-year CAGR stands at +11.0%.

FY2025 Free Cash Flow$5.70B▼ -23.9% YoY

Trailing 12M (TTM)$5.96Btrailing 4 quarters sum

FCF Margin20.1%$5.70B ÷ revenue

3-Year CAGR+7.3%FY2022 → FY2025

5-Year CAGR+11.0%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

AMAT · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$7.96B(2.26B)$5.70B▼ 23.9%20.1%

FY2024$8.68B(1.19B)$7.49B▼ 1.4%27.6%

FY2023$8.70B(1.11B)$7.59B▲ +64.7%28.6%

FY2022$5.40B(787M)$4.61B▼ 3.4%17.9%

FY2021$5.44B(668M)$4.77B▲ +41.2%20.7%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

AMAT · P/FCF · FCF yield · FCF per share

Applied Materials, Inc. (AMAT) trades at a FCF yield of 1.53% and a price-to-free-cash-flow ratio of 66.6x. FCF per share stands at $7.42, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

1.53%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$7.42

TTM FCF ÷ Shares Outstanding

Price / FCF

x66.6

Share Price ÷ FCF per Share

EV / FCF (TTM)

x65.3

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-10-26

Cash flow statement summary

AMAT · cash flow statement · operating / investing / financing

For FY2025, Applied Materials, Inc. generated $7.96B in operating cash flow and spent 2.26B in capital expenditures, yielding $5.70B in free cash flow.

Operating Activities

+$7.96B

Cash from core business operations

2025-10-26

Investing Activities

−$2.78B

CapEx, acquisitions & investments

2025-10-26

Financing Activities

−$5.98B

Buybacks, dividends & debt

2025-10-26

FCF FormulaOperating CF ($7.96B) − |CapEx| (2.26B) = FCF ($5.70B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Technology)

AMAT vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Applied Materials, Inc.YOU

AMAT

$5.70B-23.9%20.1%

Taiwan Semiconductor Manufacturing Company Limited

Microsoft Corporation

Technology · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Applied Materials, Inc. (AMAT) reported free cash flow of $5.70B for FY2025 (fiscal year ending 2025-10-26), down 23.9% year-over-year. The FCF margin was 20.1%.

Based on available data, Applied Materials, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $7.59B in FY2023. The 5-year CAGR stands at +11.0%.

Applied Materials, Inc.'s FCF yield is 1.53% and price-to-FCF ratio is 66.6x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

AMAT free cash flow · 8 questions

Applied Materials, Inc. free cash flow was $5.70B for FY2025, down 23.9% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $5.96B.

AMAT free cash flowAMAT FCFAMAT FCF 2025AMAT free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Applied Materials, Inc. · Applied Materials, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026