Common-Size Income Statement
Quarterly Data
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- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Dividend Discount Model (DDM)
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
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Applied Materials Inc., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2026-07-26), 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).
An analysis of the common-size income statement reveals a general trajectory of expanding profitability and improving operational efficiency over the observed period. Gross margins and operating margins demonstrate a consistent upward trend, while operating expenses have remained relatively controlled despite occasional non-recurring charges.
- Gross Margin Trends
- A steady expansion in gross profit is observed, rising from 44.64% of revenue in January 2020 to a peak of 50.31% by July 2026. This improvement is mirrored by a corresponding decrease in the cost of products sold, which declined from 55.36% to 49.69%. The trend suggests enhanced production efficiency, favorable pricing power, or a shift in product mix toward higher-margin offerings.
- Operating Expense Management
- Research, development, and engineering expenses have fluctuated between approximately 10% and 14% of revenue, indicating a sustained commitment to innovation. Marketing and selling expenses remained remarkably stable, generally hovering between 2.5% and 3.2%. General and administrative expenses showed a downward trend toward the end of the period, reaching a low of 1.78% in July 2026. However, total operating expenses were intermittently impacted by non-recurring items, including a legal settlement of 3.61% in January 2026 and various restructuring charges.
- Operating Income Performance
- Income from operations has improved significantly, growing from 25.04% in early 2020 to 33.74% by July 2026. This expansion is primarily driven by the growth in gross profit, which more than offset the stability or slight increases in operating expenses. The operating margin showed resilience, maintaining a trajectory above 28% for the majority of the period from May 2021 onward.
- Net Income and Non-Operating Factors
- Net income has exhibited more volatility than operating income due to fluctuations in non-operating items and tax provisions. Interest and other income provided a substantial boost to the bottom line between 2024 and 2026, peaking at 9.75% of revenue in April 2026. This was countered by significant volatility in the provision for income taxes, with notable spikes reaching 13.03% in January 2025 and 10.74% in July 2025. Despite these fluctuations, net income generally improved from the 19-21% range in 2020 to peak at 35.47% in April 2026.