Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.

Solvency Ratios (Summary)
Debt to Equity
Debt to Equity (including Operating Lease Liability)
Debt to Capital
Debt to Capital (including Operating Lease Liability)
Debt to Assets
Debt to Assets (including Operating Lease Liability)
Financial Leverage
Interest Coverage
Fixed Charge Coverage

Applied Materials Inc., solvency ratios

	Oct 31, 2021	Oct 25, 2020	Oct 27, 2019	Oct 28, 2018	Oct 29, 2017	Oct 30, 2016
Debt Ratios
Debt to equity	0.45	0.52	0.65	0.78	0.57	0.46
Debt to equity (including operating lease liability)	0.47	0.54	0.65	0.78	0.57	0.46
Debt to capital	0.31	0.34	0.39	0.44	0.36	0.32
Debt to capital (including operating lease liability)	0.32	0.35	0.39	0.44	0.36	0.32
Debt to assets	0.21	0.24	0.28	0.30	0.27	0.23
Debt to assets (including operating lease liability)	0.22	0.26	0.28	0.30	0.27	0.23
Financial leverage	2.11	2.11	2.32	2.60	2.08	2.02
Coverage Ratios
Interest coverage	29.69	18.36	14.79	21.06	19.84	13.99
Fixed charge coverage	22.50	14.48	12.35	17.53	17.08	11.43

Based on: 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).

Solvency ratio	Description	The company
Debt to equity ratio	A solvency ratio calculated as total debt divided by total shareholders’ equity.	Applied Materials Inc. debt to equity ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to equity ratio (including operating lease liability)	A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity.	Applied Materials Inc. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.
Debt to capital ratio	A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity.	Applied Materials Inc. debt to capital ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to capital ratio (including operating lease liability)	A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity.	Applied Materials Inc. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.
Debt to assets ratio	A solvency ratio calculated as total debt divided by total assets.	Applied Materials Inc. debt to assets ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to assets ratio (including operating lease liability)	A solvency ratio calculated as total debt (including operating lease liability) divided by total assets.	Applied Materials Inc. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.
Financial leverage ratio	A solvency ratio calculated as total assets divided by total shareholders’ equity.	Applied Materials Inc. financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021.

Solvency ratio	Description	The company
Interest coverage ratio	A solvency ratio calculated as EBIT divided by interest payments.	Applied Materials Inc. interest coverage ratio improved from 2019 to 2020 and from 2020 to 2021.
Fixed charge coverage ratio	A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges.	Applied Materials Inc. fixed charge coverage ratio improved from 2019 to 2020 and from 2020 to 2021.

Applied Materials Inc., debt to equity calculation, comparison to benchmarks

	Oct 31, 2021	Oct 25, 2020	Oct 27, 2019	Oct 28, 2018	Oct 29, 2017	Oct 30, 2016
Selected Financial Data (US$ in millions)
Current portion of long-term debt	—	—	600	—	—	200
Long-term debt, net of current portion	5,452	5,448	4,713	5,309	5,304	3,143
Total debt	5,452	5,448	5,313	5,309	5,304	3,343

Stockholders’ equity	12,247	10,578	8,214	6,839	9,349	7,217
Solvency Ratio
Debt to equity¹	0.45	0.52	0.65	0.78	0.57	0.46
Benchmarks
Debt to Equity, Competitors²
Advanced Micro Devices Inc.	0.04	0.06	0.17	0.99	2.28	—
Analog Devices Inc.	0.18	0.43	0.47	0.58	0.77	0.34
Broadcom Inc.	1.59	1.72	1.32	0.66	0.87	0.72
Intel Corp.	0.40	0.45	0.37	0.35	0.39	—
Lam Research Corp.	0.83	1.12	0.96	0.37	0.40	0.74
Micron Technology Inc.	0.15	0.17	0.16	0.14	0.60	0.82
NVIDIA Corp.	0.41	0.16	0.21	0.27	0.48	—
Qualcomm Inc.	1.58	2.59	3.25	17.64	0.71	0.37
Texas Instruments Inc.	0.58	0.74	0.65	0.56	0.39	—
Debt to Equity, Sector
Semiconductors & Semiconductor Equipment	0.49	0.61	0.57	0.49	0.56	—
Debt to Equity, Industry
Information Technology	0.76	0.87	0.84	0.80	0.78	—

Based on: 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).

¹ 2021 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 5,452 ÷ 12,247 = 0.45

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Debt to equity ratio	A solvency ratio calculated as total debt divided by total shareholders’ equity.	Applied Materials Inc. debt to equity ratio improved from 2019 to 2020 and from 2020 to 2021.

Applied Materials Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

	Oct 31, 2021	Oct 25, 2020	Oct 27, 2019	Oct 28, 2018	Oct 29, 2017	Oct 30, 2016
Selected Financial Data (US$ in millions)
Current portion of long-term debt	—	—	600	—	—	200
Long-term debt, net of current portion	5,452	5,448	4,713	5,309	5,304	3,143
Total debt	5,452	5,448	5,313	5,309	5,304	3,343
Operating lease liabilities, current	73	64	—	—	—	—
Operating lease liabilities, non-current	228	195	—	—	—	—
Total debt (including operating lease liability)	5,753	5,707	5,313	5,309	5,304	3,343

Stockholders’ equity	12,247	10,578	8,214	6,839	9,349	7,217
Solvency Ratio
Debt to equity (including operating lease liability)¹	0.47	0.54	0.65	0.78	0.57	0.46
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors²
Advanced Micro Devices Inc.	0.10	0.10	0.26	0.99	2.28	—
Analog Devices Inc.	0.19	0.46	0.47	0.58	0.77	0.34
Broadcom Inc.	1.61	1.75	1.32	0.66	0.87	0.72
Intel Corp.	0.40	0.46	0.38	0.35	0.39	—
Lam Research Corp.	0.86	1.16	0.96	0.37	0.40	0.74
Micron Technology Inc.	0.17	0.19	0.16	0.14	0.60	0.82
NVIDIA Corp.	0.46	0.22	0.21	0.27	0.48	—
Qualcomm Inc.	1.64	2.67	3.25	17.64	0.71	0.37
Texas Instruments Inc.	0.62	0.77	0.69	0.56	0.39	—
Debt to Equity (including Operating Lease Liability), Sector
Semiconductors & Semiconductor Equipment	0.51	0.63	0.57	0.49	0.56	—
Debt to Equity (including Operating Lease Liability), Industry
Information Technology	0.83	0.93	0.87	0.81	0.78	—

Based on: 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).

¹ 2021 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 5,753 ÷ 12,247 = 0.47

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Debt to equity ratio (including operating lease liability)	A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity.	Applied Materials Inc. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.

Applied Materials Inc., debt to capital calculation, comparison to benchmarks

	Oct 31, 2021	Oct 25, 2020	Oct 27, 2019	Oct 28, 2018	Oct 29, 2017	Oct 30, 2016
Selected Financial Data (US$ in millions)
Current portion of long-term debt	—	—	600	—	—	200
Long-term debt, net of current portion	5,452	5,448	4,713	5,309	5,304	3,143
Total debt	5,452	5,448	5,313	5,309	5,304	3,343
Stockholders’ equity	12,247	10,578	8,214	6,839	9,349	7,217
Total capital	17,699	16,026	13,527	12,148	14,653	10,560
Solvency Ratio
Debt to capital¹	0.31	0.34	0.39	0.44	0.36	0.32
Benchmarks
Debt to Capital, Competitors²
Advanced Micro Devices Inc.	0.04	0.05	0.15	0.50	0.70	—
Analog Devices Inc.	0.15	0.30	0.32	0.37	0.44	0.25
Broadcom Inc.	0.61	0.63	0.57	0.40	0.46	0.42
Intel Corp.	0.29	0.31	0.27	0.26	0.28	—
Lam Research Corp.	0.45	0.53	0.49	0.27	0.28	0.42
Micron Technology Inc.	0.13	0.15	0.14	0.13	0.37	0.45
NVIDIA Corp.	0.29	0.14	0.18	0.21	0.33	—
Qualcomm Inc.	0.61	0.72	0.76	0.95	0.42	0.27
Texas Instruments Inc.	0.37	0.43	0.39	0.36	0.28	—
Debt to Capital, Sector
Semiconductors & Semiconductor Equipment	0.33	0.38	0.36	0.33	0.36	—
Debt to Capital, Industry
Information Technology	0.43	0.46	0.46	0.44	0.44	—

Based on: 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).

¹ 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 5,452 ÷ 17,699 = 0.31

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Debt to capital ratio	A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity.	Applied Materials Inc. debt to capital ratio improved from 2019 to 2020 and from 2020 to 2021.

Applied Materials Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

	Oct 31, 2021	Oct 25, 2020	Oct 27, 2019	Oct 28, 2018	Oct 29, 2017	Oct 30, 2016
Selected Financial Data (US$ in millions)
Current portion of long-term debt	—	—	600	—	—	200
Long-term debt, net of current portion	5,452	5,448	4,713	5,309	5,304	3,143
Total debt	5,452	5,448	5,313	5,309	5,304	3,343
Operating lease liabilities, current	73	64	—	—	—	—
Operating lease liabilities, non-current	228	195	—	—	—	—
Total debt (including operating lease liability)	5,753	5,707	5,313	5,309	5,304	3,343
Stockholders’ equity	12,247	10,578	8,214	6,839	9,349	7,217
Total capital (including operating lease liability)	18,000	16,285	13,527	12,148	14,653	10,560
Solvency Ratio
Debt to capital (including operating lease liability)¹	0.32	0.35	0.39	0.44	0.36	0.32
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors²
Advanced Micro Devices Inc.	0.09	0.09	0.20	0.50	0.70	—
Analog Devices Inc.	0.16	0.31	0.32	0.37	0.44	0.25
Broadcom Inc.	0.62	0.64	0.57	0.40	0.46	0.42
Intel Corp.	0.29	0.31	0.28	0.26	0.28	—
Lam Research Corp.	0.46	0.54	0.49	0.27	0.28	0.42
Micron Technology Inc.	0.14	0.16	0.14	0.13	0.37	0.45
NVIDIA Corp.	0.31	0.18	0.18	0.21	0.33	—
Qualcomm Inc.	0.62	0.73	0.76	0.95	0.42	0.27
Texas Instruments Inc.	0.38	0.44	0.41	0.36	0.28	—
Debt to Capital (including Operating Lease Liability), Sector
Semiconductors & Semiconductor Equipment	0.34	0.39	0.36	0.33	0.36	—
Debt to Capital (including Operating Lease Liability), Industry
Information Technology	0.45	0.48	0.47	0.45	0.44	—

Based on: 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).

¹ 2021 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 5,753 ÷ 18,000 = 0.32

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Debt to capital ratio (including operating lease liability)	A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity.	Applied Materials Inc. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.

Applied Materials Inc., debt to assets calculation, comparison to benchmarks

	Oct 31, 2021	Oct 25, 2020	Oct 27, 2019	Oct 28, 2018	Oct 29, 2017	Oct 30, 2016
Selected Financial Data (US$ in millions)
Current portion of long-term debt	—	—	600	—	—	200
Long-term debt, net of current portion	5,452	5,448	4,713	5,309	5,304	3,143
Total debt	5,452	5,448	5,313	5,309	5,304	3,343

Total assets	25,825	22,353	19,024	17,773	19,419	14,588
Solvency Ratio
Debt to assets¹	0.21	0.24	0.28	0.30	0.27	0.23
Benchmarks
Debt to Assets, Competitors²
Advanced Micro Devices Inc.	0.03	0.04	0.08	0.27	0.39	—
Analog Devices Inc.	0.13	0.24	0.26	0.31	0.37	0.22
Broadcom Inc.	0.53	0.54	0.49	0.35	0.32	0.27
Intel Corp.	0.23	0.24	0.21	0.21	0.22	—
Lam Research Corp.	0.31	0.40	0.37	0.19	0.22	0.35
Micron Technology Inc.	0.12	0.12	0.12	0.11	0.32	0.36
NVIDIA Corp.	0.24	0.11	0.15	0.18	0.28	—
Qualcomm Inc.	0.38	0.44	0.48	0.50	0.33	0.22
Texas Instruments Inc.	0.31	0.35	0.32	0.30	0.23	—
Debt to Assets, Sector
Semiconductors & Semiconductor Equipment	0.26	0.30	0.29	0.26	0.28	—
Debt to Assets, Industry
Information Technology	0.27	0.29	0.29	0.28	0.30	—

Based on: 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).

¹ 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= 5,452 ÷ 25,825 = 0.21

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Debt to assets ratio	A solvency ratio calculated as total debt divided by total assets.	Applied Materials Inc. debt to assets ratio improved from 2019 to 2020 and from 2020 to 2021.

Applied Materials Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

	Oct 31, 2021	Oct 25, 2020	Oct 27, 2019	Oct 28, 2018	Oct 29, 2017	Oct 30, 2016
Selected Financial Data (US$ in millions)
Current portion of long-term debt	—	—	600	—	—	200
Long-term debt, net of current portion	5,452	5,448	4,713	5,309	5,304	3,143
Total debt	5,452	5,448	5,313	5,309	5,304	3,343
Operating lease liabilities, current	73	64	—	—	—	—
Operating lease liabilities, non-current	228	195	—	—	—	—
Total debt (including operating lease liability)	5,753	5,707	5,313	5,309	5,304	3,343

Total assets	25,825	22,353	19,024	17,773	19,419	14,588
Solvency Ratio
Debt to assets (including operating lease liability)¹	0.22	0.26	0.28	0.30	0.27	0.23
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors²
Advanced Micro Devices Inc.	0.06	0.06	0.12	0.27	0.39	—
Analog Devices Inc.	0.14	0.25	0.26	0.31	0.37	0.22
Broadcom Inc.	0.53	0.55	0.49	0.35	0.32	0.27
Intel Corp.	0.23	0.24	0.22	0.21	0.22	—
Lam Research Corp.	0.33	0.41	0.37	0.19	0.22	0.35
Micron Technology Inc.	0.12	0.13	0.12	0.11	0.32	0.36
NVIDIA Corp.	0.27	0.15	0.15	0.18	0.28	—
Qualcomm Inc.	0.40	0.46	0.48	0.50	0.33	0.22
Texas Instruments Inc.	0.33	0.37	0.34	0.30	0.23	—
Debt to Assets (including Operating Lease Liability), Sector
Semiconductors & Semiconductor Equipment	0.27	0.31	0.29	0.26	0.28	—
Debt to Assets (including Operating Lease Liability), Industry
Information Technology	0.30	0.32	0.30	0.29	0.30	—

Based on: 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).

¹ 2021 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 5,753 ÷ 25,825 = 0.22

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Debt to assets ratio (including operating lease liability)	A solvency ratio calculated as total debt (including operating lease liability) divided by total assets.	Applied Materials Inc. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.

Applied Materials Inc., financial leverage calculation, comparison to benchmarks

	Oct 31, 2021	Oct 25, 2020	Oct 27, 2019	Oct 28, 2018	Oct 29, 2017	Oct 30, 2016
Selected Financial Data (US$ in millions)
Total assets	25,825	22,353	19,024	17,773	19,419	14,588
Stockholders’ equity	12,247	10,578	8,214	6,839	9,349	7,217
Solvency Ratio
Financial leverage¹	2.11	2.11	2.32	2.60	2.08	2.02
Benchmarks
Financial Leverage, Competitors²
Advanced Micro Devices Inc.	1.66	1.54	2.13	3.60	5.79	—
Analog Devices Inc.	1.38	1.79	1.83	1.86	2.08	1.54
Broadcom Inc.	3.03	3.18	2.71	1.88	2.68	2.64
Intel Corp.	1.77	1.89	1.76	1.72	1.79	—
Lam Research Corp.	2.64	2.81	2.57	1.92	1.78	2.08
Micron Technology Inc.	1.34	1.38	1.36	1.34	1.90	2.28
NVIDIA Corp.	1.70	1.42	1.42	1.50	1.71	—
Qualcomm Inc.	4.14	5.86	6.71	35.22	2.13	1.65
Texas Instruments Inc.	1.85	2.11	2.02	1.91	1.71	—
Financial Leverage, Sector
Semiconductors & Semiconductor Equipment	1.88	2.06	1.99	1.91	1.99	—
Financial Leverage, Industry
Information Technology	2.79	2.96	2.91	2.81	2.62	—

Based on: 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).

¹ 2021 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 25,825 ÷ 12,247 = 2.11

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Financial leverage ratio	A solvency ratio calculated as total assets divided by total shareholders’ equity.	Applied Materials Inc. financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021.

Applied Materials Inc., interest coverage calculation, comparison to benchmarks

	Oct 31, 2021	Oct 25, 2020	Oct 27, 2019	Oct 28, 2018	Oct 29, 2017	Oct 30, 2016
Selected Financial Data (US$ in millions)
Net income	5,888	3,619	2,706	3,313	3,434	1,721
Add: Income tax expense	883	547	563	1,381	297	292
Add: Interest expense	236	240	237	234	198	155
Earnings before interest and tax (EBIT)	7,007	4,406	3,506	4,928	3,929	2,168
Solvency Ratio
Interest coverage¹	29.69	18.36	14.79	21.06	19.84	13.99
Benchmarks
Interest Coverage, Competitors²
Advanced Micro Devices Inc.	109.09	28.23	4.96	3.71	1.49	—
Analog Devices Inc.	8.19	7.79	7.49	7.46	4.30	11.78
Broadcom Inc.	4.59	2.37	2.54	8.24	5.02	-0.89
Intel Corp.	37.35	40.87	50.20	50.82	32.50	—
Lam Research Corp.	21.95	15.51	21.86	33.36	16.39	8.12
Micron Technology Inc.	35.18	16.41	56.09	42.83	9.66	0.41
NVIDIA Corp.	24.96	58.12	68.17	53.39	33.84	—
Qualcomm Inc.	19.38	10.50	12.93	1.67	7.11	24.01
Texas Instruments Inc.	49.47	32.67	34.69	54.49	78.95	—
Interest Coverage, Sector
Semiconductors & Semiconductor Equipment	18.50	14.30	17.14	21.13	15.82	—
Interest Coverage, Industry
Information Technology	23.70	17.65	16.95	18.42	17.65	—

Based on: 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).

¹ 2021 Calculation
Interest coverage = EBIT ÷ Interest expense
= 7,007 ÷ 236 = 29.69

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Interest coverage ratio	A solvency ratio calculated as EBIT divided by interest payments.	Applied Materials Inc. interest coverage ratio improved from 2019 to 2020 and from 2020 to 2021.

Applied Materials Inc., fixed charge coverage calculation, comparison to benchmarks

	Oct 31, 2021	Oct 25, 2020	Oct 27, 2019	Oct 28, 2018	Oct 29, 2017	Oct 30, 2016
Selected Financial Data (US$ in millions)
Net income	5,888	3,619	2,706	3,313	3,434	1,721
Add: Income tax expense	883	547	563	1,381	297	292
Add: Interest expense	236	240	237	234	198	155
Earnings before interest and tax (EBIT)	7,007	4,406	3,506	4,928	3,929	2,168
Add: Operating lease cost	79	69	51	50	34	38
Earnings before fixed charges and tax	7,086	4,475	3,557	4,978	3,963	2,206

Interest expense	236	240	237	234	198	155
Operating lease cost	79	69	51	50	34	38
Fixed charges	315	309	288	284	232	193
Solvency Ratio
Fixed charge coverage¹	22.50	14.48	12.35	17.53	17.08	11.43
Benchmarks
Fixed Charge Coverage, Competitors²
Advanced Micro Devices Inc.	36.00	13.08	3.48	2.89	1.36	—
Analog Devices Inc.	6.64	6.48	5.62	5.84	3.68	7.50
Broadcom Inc.	3.70	1.92	2.27	6.28	3.58	-0.36
Intel Corp.	16.56	25.00	36.69	34.36	23.36	—
Lam Research Corp.	17.80	12.52	17.83	27.07	14.13	7.36
Micron Technology Inc.	22.49	11.10	32.90	36.32	8.97	0.47
NVIDIA Corp.	14.40	18.89	29.23	28.79	19.32	—
Qualcomm Inc.	14.48	8.30	10.68	1.55	5.85	17.54
Texas Instruments Inc.	29.86	21.33	21.68	33.77	39.24	—
Fixed Charge Coverage, Sector
Semiconductors & Semiconductor Equipment	12.64	10.47	13.30	16.11	12.19	—
Fixed Charge Coverage, Industry
Information Technology	14.07	10.85	11.10	11.88	11.19	—

Based on: 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).

¹ 2021 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 7,086 ÷ 315 = 22.50

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Solvency ratio	Description	The company
Fixed charge coverage ratio	A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges.	Applied Materials Inc. fixed charge coverage ratio improved from 2019 to 2020 and from 2020 to 2021.

Applied Materials Inc. (NASDAQ:AMAT)

Analysis of Solvency Ratios

Solvency Ratios (Summary)

Debt to Equity

Debt to Equity (including Operating Lease Liability)

Debt to Capital

Debt to Capital (including Operating Lease Liability)

Debt to Assets

Debt to Assets (including Operating Lease Liability)

Financial Leverage

Interest Coverage

Fixed Charge Coverage