Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Income Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
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Applied Materials Inc., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2025-10-26), 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).
The analysis of the financial position over the examined years indicates several noteworthy trends and changes across various asset categories.
- Cash and Cash Equivalents
- There was a decline in cash holdings from 5,351 million USD in 2020 to a low of 1,995 million USD in 2022. Subsequently, cash reserves increased significantly to peak at 8,022 million USD in 2024 before a slight decrease to 7,241 million USD in 2025.
- Short-term Investments
- Short-term investments displayed a consistent upward trend from 387 million USD in 2020 to 1,449 million USD in 2024, with a minor decline to 1,332 million USD in 2025, suggesting increased liquidity management in recent years.
- Accounts Receivable, Net
- The accounts receivable increased substantially from 2,963 million USD in 2020 to a peak of 6,068 million USD in 2022, followed by a decline to around 5,185 million USD by 2025, indicating fluctuations in credit sales or collection efficiency.
- Inventories
- Inventory values rose steadily from 3,904 million USD in 2020 to 5,932 million USD in 2022, followed by some variability but ultimately trending upward again to 5,915 million USD in 2025. This pattern may reflect changes in production scale or demand forecasting.
- Prepaid Income Taxes and Income Taxes Receivable
- This category showed volatility, peaking at 593 million USD in 2021, then declining to 120 million USD in 2024, before slightly rebounding to 148 million USD in 2025, indicating shifting tax positions or timing differences in tax payments and refunds.
- Prepaid Expenses and Other
- The prepaid expenses steadily increased from 602 million USD in 2020 to 1,060 million USD in 2025, suggesting consistent growth in advance payments for services or supplies.
- Other Current Assets
- There was a marked increase from 764 million USD in 2020 to a peak of 1,386 million USD in 2021, followed by fluctuations but remaining relatively elevated, implying varying non-cash current asset components.
- Current Assets
- The total current assets rose consistently from 13,369 million USD in 2020 to a high of 21,220 million USD in 2024, with a minor decrease to 20,881 million USD in 2025, underscoring overall growth in liquid and short-term asset holdings.
- Long-term Investments
- Long-term investments increased steadily from 1,538 million USD in 2020 to 4,327 million USD in 2025, reflecting increased allocation to non-current securities or strategic investments.
- Property, Plant, and Equipment, Net
- This asset category exhibited continuous growth from 1,604 million USD in 2020 to 4,610 million USD in 2025, illustrating ongoing capital expenditures and expansion of fixed assets. The inclusion of finance lease right-of-use assets starting in 2023 accounts for some incremental increase.
- Goodwill
- Goodwill remained relatively stable over the period, fluctuating slightly around 3,700 million USD, indicating limited acquisitions or impairments affecting this intangible asset.
- Purchased Technology and Other Intangible Assets, Net
- This category saw a peak of 339 million USD in 2022, followed by a gradual decline to 226 million USD in 2025, suggesting amortization or disposal of intangible assets over time.
- Non-current Deferred Income Taxes
- There was variability in deferred tax assets, with values ranging from 1,233 million USD to 2,393 million USD across the years, implying changes in timing differences and tax planning strategies.
- Operating Lease Right-of-Use Assets
- These assets showed a steady increase from 252 million USD in 2020 to 509 million USD in 2025, reflecting the increased recognition of lease obligations under updated accounting standards.
- Income Tax Receivables and Other Assets
- This category was irregular, peaking at 806 million USD in 2025 after fluctuations, which may indicate timing differences in tax settlements and other miscellaneous non-current assets.
- Deferred Income Taxes and Other Assets
- Total deferred income taxes and similar assets increased from 2,223 million USD in 2020 to 3,082 million USD in 2024 before falling to 2,548 million USD in 2025, showing changes in deferred tax positions and other non-current asset components.
- Non-current Assets
- There was a clear upward trajectory in non-current assets, rising from 8,984 million USD in 2020 to 15,418 million USD in 2025, indicating significant investments in long-term assets.
- Total Assets
- Total assets increased consistently from 22,353 million USD in 2020 to 36,299 million USD in 2025. This growth reflects expansion in both current and non-current assets, suggesting overall company asset base growth and possible scaling of operations.