Common-Size Balance Sheet: Assets
Quarterly Data
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Applied Materials Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
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Applied Materials Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-04-26), 10-Q (reporting date: 2026-01-25), 10-K (reporting date: 2025-10-26), 10-Q (reporting date: 2025-07-27), 10-Q (reporting date: 2025-04-27), 10-Q (reporting date: 2025-01-26), 10-K (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-Q (reporting date: 2024-01-28), 10-K (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-29), 10-K (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-Q (reporting date: 2022-01-30), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-25), 10-Q (reporting date: 2020-07-26), 10-Q (reporting date: 2020-04-26), 10-Q (reporting date: 2020-01-26).
The asset structure demonstrates a consistent reliance on current assets, which generally fluctuate between 54% and 62% of total assets throughout the observed period. While current assets peaked between mid-2020 and late 2021, a slight contraction is observed toward the end of the period, ending at approximately 56% by April 2026. Conversely, non-current assets have experienced a corresponding shift, trending from a low of approximately 37% in 2021 back up to roughly 44% by the end of the analysis period.
- Liquidity and Working Capital Trends
- Cash and cash equivalents exhibit significant volatility, reaching a peak of 26.66% in January 2021 before dropping to a period low of 7.46% in October 2022. A recovery followed, with cash levels stabilizing between 15% and 24% in the subsequent years. Short-term investments remained a marginal component of the asset base, typically staying below 6%, though a modest increase is noted in late 2024 and early 2025.
- Accounts receivable and inventories both showed a synchronized increase peaking in late 2022, with receivables reaching 22.70% and inventories hitting 22.20% of total assets. This simultaneous rise suggests a period of increased working capital intensity. By April 2026, these figures normalized to 15.82% for receivables and 15.74% for inventories, indicating a return to more efficient asset turnover.
- Fixed Asset and Intangible Composition
- A clear structural shift is observed in the long-term asset base, characterized by a steady decline in goodwill and a gradual increase in tangible infrastructure. Goodwill decreased consistently from 17.20% in January 2020 to 9.49% by April 2026, suggesting either an absence of new large-scale acquisitions or a reduction in the relative weight of intangible assets as the balance sheet expanded.
- Property, plant, and equipment (PP&E) followed an opposite trajectory, growing from 7.87% in early 2020 to 13.04% by April 2026. This upward trend indicates a sustained increase in capital expenditure and investment in physical production capacity.
- Long-term investments remained relatively stable for the first several years but trended upward starting in 2024, reaching a peak of 13.20% in January 2026 before settling at 12.76%.
Overall, the asset composition reflects a transition from a balance sheet heavily weighted toward goodwill and high liquid cash reserves toward one with a greater emphasis on productive physical assets and strategic long-term investments.