Price to Book Value (P/BV)
since 2005
Calculation
Applied Materials Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 12, 2025 | 10.07 | = | 259.21 | ÷ | 25.75 | 25.75 | = | 20,415 | ÷ | 792,943,366 | |
| Dec 13, 2024 | 7.25 | = | 169.35 | ÷ | 23.35 | 23.35 | = | 19,001 | ÷ | 813,684,638 | |
| Dec 15, 2023 | 8.23 | = | 161.95 | ÷ | 19.67 | 19.67 | = | 16,349 | ÷ | 831,067,105 | |
| Dec 16, 2022 | 7.25 | = | 104.73 | ÷ | 14.45 | 14.45 | = | 12,194 | ÷ | 844,139,722 | |
| Dec 17, 2021 | 10.60 | = | 146.15 | ÷ | 13.78 | 13.78 | = | 12,247 | ÷ | 888,513,248 | |
| Dec 11, 2020 | 7.63 | = | 88.30 | ÷ | 11.57 | 11.57 | = | 10,578 | ÷ | 914,344,189 | |
| Dec 13, 2019 | 6.67 | = | 59.87 | ÷ | 8.97 | 8.97 | = | 8,214 | ÷ | 915,304,098 | |
| Dec 13, 2018 | 4.73 | = | 33.71 | ÷ | 7.13 | 7.13 | = | 6,839 | ÷ | 958,606,093 | |
| Dec 15, 2017 | 5.94 | = | 52.54 | ÷ | 8.85 | 8.85 | = | 9,349 | ÷ | 1,056,340,714 | |
| Dec 15, 2016 | 4.93 | = | 33.06 | ÷ | 6.70 | 6.70 | = | 7,217 | ÷ | 1,076,570,134 | |
| Dec 9, 2015 | 2.87 | = | 19.03 | ÷ | 6.62 | 6.62 | = | 7,613 | ÷ | 1,149,133,389 | |
| Dec 17, 2014 | 3.80 | = | 24.46 | ÷ | 6.44 | 6.44 | = | 7,868 | ÷ | 1,221,471,983 | |
| Dec 4, 2013 | 2.82 | = | 16.61 | ÷ | 5.89 | 5.89 | = | 7,088 | ÷ | 1,204,183,467 | |
| Dec 5, 2012 | 1.79 | = | 10.80 | ÷ | 6.04 | 6.04 | = | 7,235 | ÷ | 1,197,659,704 | |
| Dec 6, 2011 | 1.65 | = | 11.09 | ÷ | 6.74 | 6.74 | = | 8,800 | ÷ | 1,305,637,099 | |
| Dec 10, 2010 | 2.35 | = | 13.36 | ÷ | 5.68 | 5.68 | = | 7,536 | ÷ | 1,327,685,208 | |
| Dec 11, 2009 | 2.53 | = | 13.38 | ÷ | 5.29 | 5.29 | = | 7,095 | ÷ | 1,341,259,033 | |
| Dec 12, 2008 | 1.84 | = | 10.45 | ÷ | 5.68 | 5.68 | = | 7,549 | ÷ | 1,328,871,245 | |
| Dec 14, 2007 | 3.14 | = | 17.77 | ÷ | 5.66 | 5.66 | = | 7,821 | ÷ | 1,382,752,583 | |
| Dec 14, 2006 | 3.81 | = | 18.20 | ÷ | 4.78 | 4.78 | = | 6,651 | ÷ | 1,392,743,007 | |
| Dec 14, 2005 | 3.42 | = | 18.99 | ÷ | 5.56 | 5.56 | = | 8,929 | ÷ | 1,606,934,422 |
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), 10-K (reporting date: 2019-10-27), 10-K (reporting date: 2018-10-28), 10-K (reporting date: 2017-10-29), 10-K (reporting date: 2016-10-30), 10-K (reporting date: 2015-10-25), 10-K (reporting date: 2014-10-26), 10-K (reporting date: 2013-10-27), 10-K (reporting date: 2012-10-28), 10-K (reporting date: 2011-10-30), 10-K (reporting date: 2010-10-31), 10-K (reporting date: 2009-10-25), 10-K (reporting date: 2008-10-26), 10-K (reporting date: 2007-10-28), 10-K (reporting date: 2006-10-29), 10-K (reporting date: 2005-10-30).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Applied Materials Inc. Annual Report.
The share price demonstrates significant volatility over the observed period, with a noticeable dip between 2007 and 2008 followed by a steady recovery and substantial growth from 2013 onward. Initially fluctuating around the mid-teens, the share price dropped to a low near $10.45 in late 2008, likely reflecting broader market challenges. Subsequent years showed recovery and expansion, peaking at $146.15 in 2021 before experiencing some fluctuation, and ultimately reaching $259.21 by 2025. This upward trend in recent years suggests increased investor confidence and potential growth in company value.
Book value per share (BVPS) generally exhibits a gradual upward trend throughout the period. Beginning at $5.56 in 2005, BVPS experienced a mild decline and stagnation around 2008 and 2009, but resumed growth thereafter. From 2013, BVPS consistently increased, reaching $25.75 by 2025. This steady rise indicates improving underlying company equity and potentially retained earnings growth over time.
The price-to-book value ratio (P/BV) presents considerable fluctuation, reflecting changes in market valuation relative to the company’s net asset value. Early years show ratios mostly between 1.5 and 4, with a significant dip to approximately 1.65 in 2011, aligning with relatively low share prices despite stable book values. From 2014 onward, the ratio escalates sharply, peaking at 10.6 in 2021, suggesting the market began valuing shares at a much higher premium relative to book value during that period. The subsequent fluctuations in the P/BV ratio indicate varying investor sentiment and market dynamics, with a noted increase again to 10.07 by 2025.
Overall, the data reflects a period of recovery and dynamic growth after the financial crisis in 2008, with the share price and market valuations increasing at a pace outstripping the growth of book value per share. The elevated P/BV ratios in the latter years suggest strong market optimism and potentially higher growth expectations or improved profitability forecasts driving premium valuations.
Comparison to Competitors
Applied Materials Inc., P/BV, long-term trends, comparison to competitors
| Applied Materials Inc. | Advanced Micro Devices Inc. | Analog Devices Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 12, 2025 | 10.07 | — | 3.65 | 19.24 | — | 25.73 | 13.09 | 3.89 | 40.38 | 9.08 | — |
| Dec 13, 2024 | 7.25 | 3.15 | 3.09 | 15.29 | 0.85 | 28.07 | 12.13 | 2.51 | 39.25 | 7.31 | 9.86 |
| Dec 15, 2023 | 8.23 | 4.85 | 2.53 | 21.59 | 1.75 | 23.25 | 10.58 | 1.74 | 26.03 | 5.72 | 8.57 |
| Dec 16, 2022 | 7.25 | 2.32 | 2.35 | 10.23 | 1.15 | 40.05 | 10.10 | 1.15 | 24.95 | 7.00 | 11.33 |
| Dec 17, 2021 | 10.60 | 19.21 | 2.50 | 10.50 | 2.21 | 15.98 | 13.64 | 1.79 | 20.14 | 15.59 | 11.87 |
| Dec 11, 2020 | 7.63 | 17.77 | 4.22 | 7.40 | 2.84 | 11.83 | 10.55 | 1.50 | 15.49 | 24.00 | 17.02 |
| Dec 13, 2019 | 6.67 | 20.46 | 3.61 | 5.09 | 3.78 | 8.15 | 6.40 | 1.40 | 10.09 | 19.69 | 13.79 |
| Dec 13, 2018 | 4.73 | 18.30 | 3.02 | 3.74 | 2.94 | 11.39 | 4.28 | 1.49 | 19.60 | 82.57 | 11.20 |
| Dec 15, 2017 | 5.94 | 19.87 | 3.22 | 5.28 | 3.08 | 10.50 | 3.82 | 2.51 | 10.51 | 2.56 | 9.89 |
| Dec 15, 2016 | 4.93 | 31.66 | 4.35 | 3.84 | 2.60 | 17.57 | 2.45 | 1.48 | 3.98 | 3.12 | 7.36 |
| Dec 9, 2015 | 2.87 | — | 3.72 | 8.24 | 2.21 | 19.57 | 2.23 | 1.47 | 2.84 | 2.88 | 5.30 |
| Dec 17, 2014 | 3.80 | 12.72 | 3.64 | 7.98 | 2.91 | 3.26 | 2.29 | 3.22 | 2.19 | 3.28 | 5.94 |
| Dec 4, 2013 | 2.82 | 4.94 | 3.28 | 4.46 | 2.11 | 2.78 | 1.69 | 1.92 | 1.63 | 3.26 | 4.46 |
| Dec 5, 2012 | 1.79 | 3.45 | 2.90 | 3.25 | 2.04 | 2.61 | 1.24 | 0.72 | 2.20 | 2.95 | 3.45 |
| Dec 6, 2011 | 1.65 | 3.28 | 2.62 | 3.51 | 2.90 | 2.11 | 1.80 | 0.64 | 3.27 | 3.25 | 3.48 |
| Dec 10, 2010 | 2.35 | 6.21 | 3.36 | 4.24 | 2.46 | 2.41 | 2.63 | 0.96 | 3.74 | 3.54 | 4.00 |
| Dec 11, 2009 | 2.53 | 8.23 | 3.43 | 3.78 | 2.76 | 2.44 | 2.67 | 1.25 | 2.27 | 3.61 | 3.10 |
| Dec 12, 2008 | 1.84 | — | 2.04 | — | 1.72 | 2.19 | 2.69 | 0.42 | 4.24 | 3.05 | 2.09 |
| Dec 14, 2007 | 3.14 | 1.44 | 3.99 | — | 2.76 | 3.27 | 4.05 | 0.96 | 5.06 | 4.11 | 4.14 |
| Dec 14, 2006 | 3.81 | 1.42 | 3.36 | — | 3.27 | 2.75 | 4.19 | 1.30 | 5.75 | 4.48 | 3.93 |
| Dec 14, 2005 | 3.42 | 5.83 | 3.75 | — | 3.34 | 3.19 | 3.75 | 1.47 | 3.63 | 5.97 | 4.00 |
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), 10-K (reporting date: 2019-10-27), 10-K (reporting date: 2018-10-28), 10-K (reporting date: 2017-10-29), 10-K (reporting date: 2016-10-30), 10-K (reporting date: 2015-10-25), 10-K (reporting date: 2014-10-26), 10-K (reporting date: 2013-10-27), 10-K (reporting date: 2012-10-28), 10-K (reporting date: 2011-10-30), 10-K (reporting date: 2010-10-31), 10-K (reporting date: 2009-10-25), 10-K (reporting date: 2008-10-26), 10-K (reporting date: 2007-10-28), 10-K (reporting date: 2006-10-29), 10-K (reporting date: 2005-10-30).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
Applied Materials Inc., P/BV, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Applied Materials Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Dec 12, 2025 | 10.07 | — |
| Dec 13, 2024 | 7.25 | 9.25 |
| Dec 15, 2023 | 8.23 | 6.44 |
| Dec 16, 2022 | 7.25 | 5.18 |
| Dec 17, 2021 | 10.60 | 6.30 |
| Dec 11, 2020 | 7.63 | 6.15 |
| Dec 13, 2019 | 6.67 | 5.17 |
| Dec 13, 2018 | 4.73 | 4.63 |
| Dec 15, 2017 | 5.94 | 4.09 |
| Dec 15, 2016 | 4.93 | 3.40 |
| Dec 9, 2015 | 2.87 | 2.89 |
| Dec 17, 2014 | 3.80 | 3.41 |
| Dec 4, 2013 | 2.82 | 2.69 |
| Dec 5, 2012 | 1.79 | 2.34 |
| Dec 6, 2011 | 1.65 | 2.75 |
| Dec 10, 2010 | 2.35 | 2.82 |
| Dec 11, 2009 | 2.53 | 2.93 |
| Dec 12, 2008 | 1.84 | 2.08 |
| Dec 14, 2007 | 3.14 | 3.08 |
| Dec 14, 2006 | 3.81 | 3.31 |
| Dec 14, 2005 | 3.42 | 3.77 |
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), 10-K (reporting date: 2019-10-27), 10-K (reporting date: 2018-10-28), 10-K (reporting date: 2017-10-29), 10-K (reporting date: 2016-10-30), 10-K (reporting date: 2015-10-25), 10-K (reporting date: 2014-10-26), 10-K (reporting date: 2013-10-27), 10-K (reporting date: 2012-10-28), 10-K (reporting date: 2011-10-30), 10-K (reporting date: 2010-10-31), 10-K (reporting date: 2009-10-25), 10-K (reporting date: 2008-10-26), 10-K (reporting date: 2007-10-28), 10-K (reporting date: 2006-10-29), 10-K (reporting date: 2005-10-30).
Comparison to Industry (Information Technology)
Applied Materials Inc., P/BV, long-term trends, comparison to industry (information technology)
| Applied Materials Inc. | Information Technology | |
|---|---|---|
| Dec 12, 2025 | 10.07 | — |
| Dec 13, 2024 | 7.25 | 13.29 |
| Dec 15, 2023 | 8.23 | 11.49 |
| Dec 16, 2022 | 7.25 | 10.46 |
| Dec 17, 2021 | 10.60 | 12.56 |
| Dec 11, 2020 | 7.63 | 11.12 |
| Dec 13, 2019 | 6.67 | 8.52 |
| Dec 13, 2018 | 4.73 | 7.04 |
| Dec 15, 2017 | 5.94 | 5.49 |
| Dec 15, 2016 | 4.93 | 4.55 |
| Dec 9, 2015 | 2.87 | 4.33 |
| Dec 17, 2014 | 3.80 | 4.38 |
| Dec 4, 2013 | 2.82 | 3.52 |
| Dec 5, 2012 | 1.79 | 3.77 |
| Dec 6, 2011 | 1.65 | 4.01 |
| Dec 10, 2010 | 2.35 | 4.18 |
| Dec 11, 2009 | 2.53 | 4.35 |
| Dec 12, 2008 | 1.84 | 4.03 |
| Dec 14, 2007 | 3.14 | 8.71 |
| Dec 14, 2006 | 3.81 | 7.26 |
| Dec 14, 2005 | 3.42 | 7.44 |
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), 10-K (reporting date: 2019-10-27), 10-K (reporting date: 2018-10-28), 10-K (reporting date: 2017-10-29), 10-K (reporting date: 2016-10-30), 10-K (reporting date: 2015-10-25), 10-K (reporting date: 2014-10-26), 10-K (reporting date: 2013-10-27), 10-K (reporting date: 2012-10-28), 10-K (reporting date: 2011-10-30), 10-K (reporting date: 2010-10-31), 10-K (reporting date: 2009-10-25), 10-K (reporting date: 2008-10-26), 10-K (reporting date: 2007-10-28), 10-K (reporting date: 2006-10-29), 10-K (reporting date: 2005-10-30).