Common-Size Income Statement
Quarterly Data
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Applied Materials Inc. pages available for free this week:
- Income Statement
- Balance Sheet: Assets
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Return on Equity (ROE) since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Applied Materials Inc., common-size consolidated income statement (quarterly data)
Based on: 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).
- Gross Profit and Cost of Products Sold
- Gross profit as a percentage of net revenue has exhibited a generally upward trend from about 44.6% in early 2020 to reaching close to 49% in mid-2025, reflecting improved profitability. This improvement correlates with a gradual decrease in the cost of products sold, which declined from approximately 55.4% of net revenue to near 51% over the same period.
- Operating Expenses
- Operating expenses as a proportion of net revenue have fluctuated but generally show slight increases in recent periods. Research, development, and engineering costs have mostly ranged from 10% to 13.5%, with a tendency to increase slightly toward the end of the time frame. Marketing and selling expenses have remained stable around 2.5% to 3.1%, while general and administrative expenses have shown more variability, ranging from roughly 2.5% to over 4%, with some upward spikes in late periods. Overall operating expenses declined significantly in mid-2021 but have trended upward after that decline, peaking toward the last period analyzed.
- Exceptional Charges
- Restructuring charges appeared intermittently, notably increasing to -2.94% of net revenue in mid-2021 and again nearing -2.7% at the end of the period. There was also a one-time deal termination fee of -2.76% in mid-2021, indicating some non-recurring costs affecting operating expenses during that time frame.
- Income from Operations
- Income from operations showed a positive trend from the low 20s percentage range to peaks above 32% in 2021, with a slight decline toward 25% by early 2025. The rise in operating margin mostly reflects efficiency gains in controlling product costs and operating expenses, with some moderation in the most recent quarters.
- Interest Expense and Other Income
- Interest expense steadily decreased as a percentage of net revenue, falling from about 1.4% to just above 0.9% by mid-2025, suggesting improved debt management or favorable interest conditions. Net interest and other income showed significant volatility, including negative values early on but notable spikes in later periods, reaching as high as 9.2% of net revenue by late 2025, which positively contributed to pre-tax income.
- Income Before Income Taxes and Tax Provision
- Pre-tax income increased over time, peaking at roughly 35% of net revenue in late 2025. This increase reflects operational improvements and gains from non-operating income. The provision for income taxes fluctuated considerably with occasional spikes such as a high negative tax provision near -13% in early 2025, indicating possible tax benefit recognition or adjustments affecting net earnings.
- Net Income
- Net income margins rose from around 21% in early 2020 to levels exceeding 30% in some quarters during 2023 and 2024, before slightly moderating in late 2025. Despite fluctuations in tax and exceptional items, net income as a percentage of net revenue demonstrates a generally strong and improving profitability over the analyzed period.