Applied Materials Inc.
AMAT - Insider Information
Get informed when a big investor buys or sells
+ FollowMarket Cap$293.34B
Close$
Earnings Call Q3 2026
August 13, 2026 - AI Summary
Record Q3 results + strong profitability/margins
- Revenue $9.1B (+15% QoQ, +25% YoY); non-GAAP gross margin 50.4% (+40 bps QoQ, +150 bps YoY).
- Non-GAAP operating margin 34% (+190 bps QoQ, +330 bps YoY).
- Non-GAAP EPS $3.50 (+22% QoQ, +41% YoY).
- Signaling sustained operating leverage: OpEx as % of revenue at the lowest in ~4 years.
- Good: Indicates strong demand + value capture; Surprising/strong: gross margin expansion for 13 consecutive quarters YoY.
FY26 outlook (Q4 guidance) and where growth is expected
- Q4 (fiscal) guidance: revenue $10.25B ± $500M (+51% YoY); non-GAAP EPS $4.02 ± $0.20 (+85% YoY).
- Segment outlook for Q4:
- Semiconductor Systems: ~$7.9B (+62% YoY)
- AGS (services): ~$1.84B (+22% YoY)
- Other: ~$510M (display-related; they now assume ~$400M/q average through 2027 for modeling).
- Management expects particularly strong 2H calendar-year growth in DRAM plus leading-edge logic + advanced packaging.
- Challenge: Q1 fiscal 27 is a 14-week quarter, so OpEx steps up (margin guided roughly flat near term).
Calendar 2026/2027 growth drivers + key forecast improvements
- They say they’ve again increased upward revisions to the 2026 revenue growth forecast during the past 3 months, and expect to grow faster than the overall market.
- Visibility: customers provide rolling 8-quarter forecasts; largest customers give longer-term commitments.
- 2027 confidence: due to the supply-demand gap in advanced chips, and customers focusing on yield/output optimization while building new fabs.
- Market mix: leading-edge foundry logic, DRAM, and advanced packaging expected to be about ~80% of wafer fab equipment growth in 2026–2027.
- Good: stronger-than-previous semi systems demand trajectory (they referenced “>30%” growth last call and now implies even stronger).
Exclusive for Stockcircle Pro members
Sign up
$156.15
57.7% downside
Current Fair Value
57.7% downsideOvervalued by 57.7% based on the discounted cash flow analysis.
Insider Trades
Loading insider trades…
Congress Trades
Loading congress trades…
Share Statistics
| Market cap | $293.34 Billion |
|---|---|
| Enterprise Value | $293.72 Billion |
| Annual dividend | $1.98 |
| Dividend yield | 0.51% |
| Earnings per Share | $8.71 |
| Beta | 1.59 |
| Outstanding Shares | 794,000,000 |
Return
| Return on Equity | 36.16% |
|---|---|
| Return on Assets | 21.29% |
| Return on Invested Capital | 29.25% |
Valuation & Multiples
| P/E Ratio | 33.43 |
|---|---|
| PEG | 78.35 |
| Price to Sales | 9.72 |
| Price to Book Ratio | 11.55 |
| Enterprise Value to Revenue | 9.52 |
| Enterprise Value to EBIT | 30.27 |
| Enterprise Value to Net Income | 31 |
| Total Debt to Enterprise | 0.03 |
| Debt to Equity | 0.29 |
Revenue Sources
No data
Last Earnings Call
Report Date
August 13, 2026
EPS Estimate
$3.40
Consensus analyst estimateRevenue Estimate
$8.99 B
Consensus analyst estimateNext Earnings Call
Expected Date
November 12, 2026
EPS Estimate
$4.06
Consensus analyst estimateRevenue Estimate
$10.30 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 1.03, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 1.0275▼ 20.12% |
|---|---|
| Total Calls | 110,696▼ 99.20% |
| Total Puts | 113,740▼ 99.33% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 4.96%▼ 79.31% |
|---|---|
| Total Invested | $19.96B▼ 95.85% |
| Investors Holding | 1,421▼ 2231.00% |
About Applied Materials Inc.
36,500 employees
CEO: Gary Dickerson
Applied Materials, Inc. engages in provision of materials engineering solutions used to produce semiconductors. The firm also focuses on design, development, production, and servicing of the critical wafer fabrication tools used for cust...