Stock Analysis on Net
Stock Analysis on Net

Applied Materials Inc. (NASDAQ:AMAT)

Common-Size Balance Sheet: Assets 

Applied Materials Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Oct 27, 2024 Oct 29, 2023 Oct 30, 2022 Oct 31, 2021 Oct 25, 2020 Oct 27, 2019
Cash and cash equivalents 23.31 19.96 7.46 19.34 23.94 16.45
Short-term investments 4.21 2.40 2.19 1.80 1.73 2.57
Accounts receivable, net 15.21 16.81 22.70 19.18 13.26 13.31
Inventories 15.75 18.63 22.20 16.69 17.47 18.26
Prepaid income taxes and income taxes receivable 0.35 1.34 1.72 2.30 0.72 0.50
Prepaid expenses and other 2.83 3.18 3.30 3.07 2.69 2.55
Other current assets 3.18% 4.52% 5.03% 5.37% 3.42% 3.05%
Current assets 61.67% 62.31% 59.59% 62.37% 59.81% 53.65%
Long-term investments 8.10 7.42 7.41 7.96 6.88 8.95
Property, plant and equipment, net 9.70 8.86 8.63 7.49 7.18 8.04
Finance lease right-of-use assets 0.00 0.35 0.00 0.00 0.00 0.00
Property, plant and equipment, net, including finance lease right-of-use assets 9.70% 9.21% 8.63% 7.49% 7.18% 8.04%
Goodwill 10.85 12.14 13.84 13.47 15.51 17.87
Purchased technology and other intangible assets, net 0.72 0.96 1.27 0.40 0.68 0.82
Non-current deferred income taxes 6.95 5.63 5.22 6.28 7.65 9.28
Operating lease right-of-use assets 1.09 1.20 1.46 1.14 1.13 0.00
Income tax receivables and other assets 0.91 1.12 2.59 0.89 1.16 1.39
Deferred income taxes and other assets 8.96% 7.95% 9.26% 8.31% 9.94% 10.68%
Non-current assets 38.33% 37.69% 40.41% 37.63% 40.19% 46.35%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2024-10-27), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-25), 10-K (reporting date: 2019-10-27).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets showed significant fluctuation. It increased from 16.45% in 2019 to a peak of 23.94% in 2020, then declined sharply to 7.46% in 2022 before rebounding to over 23% by 2024. This suggests periods of both liquidity buildup and utilization.
Short-term investments
Short-term investments as a percentage of total assets generally remained low but exhibited a gradual increase, rising from 2.57% in 2019 to 4.21% in 2024, indicating a growing allocation to liquid investment vehicles.
Accounts receivable, net
Accounts receivable showed an upward trend until 2022, peaking at 22.7% before declining in subsequent years to 15.21% by 2024. This variation may reflect fluctuations in sales volume, credit policies, or collection efficiency.
Inventories
Inventory levels as a share of total assets decreased moderately from 18.26% in 2019 to 15.75% in 2024, despite a peak in 2022 at 22.2%. This indicates temporary inventory buildup followed by an improved turnover or reduction strategy.
Prepaid income taxes and income taxes receivable
This item increased notably in 2021 to 2.3% but declined thereafter to a low of 0.35% in 2024. The pattern suggests a changing tax position, possibly influenced by temporary timing differences or tax payments.
Prepaid expenses and other
The percentage remained relatively stable, with slight fluctuations around 2.5% to 3.3%, showing consistency in prepaid and miscellaneous current assets.
Other current assets
Other current assets rose from 3.05% in 2019 to a peak of 5.37% in 2021 and then decreased steadily to 3.18% by 2024, indicating transient increases in less-defined current asset components.
Current assets
Current assets consistently represented over half of total assets, ranging from 53.65% to 62.37%. This stable predominance underlines a strong liquidity position throughout the period.
Long-term investments
Long-term investments fluctuated modestly, decreasing from 8.95% in 2019 to a low of 6.88% in 2020, before gradually increasing to 8.1% in 2024, showing a balanced approach to longer-term asset allocation.
Property, plant and equipment, net (including finance lease right-of-use assets)
This asset category displayed a gradual increase from 8.04% in 2019 to 9.7% in 2024, reflecting possible ongoing capital expenditures or asset acquisitions. The introduction of finance lease right-of-use assets in 2023 slightly elevated the proportion.
Goodwill
Goodwill steadily declined from 17.87% in 2019 to 10.85% in 2024, indicating possible asset impairment, amortization, or disposals affecting intangible goodwill assets over time.
Purchased technology and other intangible assets, net
Intangible assets decreased overall from 0.82% in 2019 to 0.72% in 2024, with a notable peak in 2022 at 1.27%, suggesting acquisitions or capitalization followed by amortization or disposals.
Non-current deferred income taxes
These declined from 9.28% in 2019 to a trough of 5.22% in 2022, followed by a recovery to 6.95% in 2024, reflecting changes in deferred tax liabilities/assets tied to timing differences in income recognition.
Operating lease right-of-use assets
Introduced in 2020 at 1.13%, this asset class remained relatively stable, fluctuating slightly but maintaining a presence around 1.1% to 1.46% of total assets.
Income tax receivables and other assets
This category fluctuated moderately, with a peak in 2022 at 2.59% but generally remained under 1.4%, suggesting variable tax-related receivables and miscellaneous asset components.
Deferred income taxes and other assets
Consolidated deferred income taxes and other assets declined overall from 10.68% in 2019 to 7.95% in 2023, followed by an uptick to 8.96% in 2024, reflecting changes in timing differences and miscellaneous non-current asset components.
Non-current assets
The share of non-current assets declined from 46.35% in 2019 to a low of 37.63% in 2021, with a slight rebound to 38.33% by 2024, indicating a gradual shift in asset composition favoring current assets over longer-term holdings during this period.
Total assets
Total assets sum to 100% by definition; analysis focuses on the internal shifts between current and non-current segments and changes within specific asset categories over time.