Current EV
Historical EV

Applied Materials Inc., current enterprise value calculation

Current share price (P)	$169.46
No. shares of common stock outstanding	802,498,217
US$ in millions
Common equity (market value)¹	135,991)
Add: Preferred stock: $.01 par value per share; no shares issued (per books)	—)
Total equity	135,991)
Add: Short-term debt (per books)	100)
Add: Current portion of long-term debt (per books)	699)
Add: Finance lease liabilities, current (per books)	—)
Add: Long-term debt, net of current portion (per books)	5,460)
Total equity and debt	142,250)
Less: Cash and cash equivalents	8,022)
Less: Short-term investments	1,449)
Enterprise value (EV)	132,779)

Based on: 10-K (reporting date: 2024-10-27).

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 169.46 × 802,498,217

Applied Materials Inc., EV calculation

	Oct 27, 2024	Oct 29, 2023	Oct 30, 2022	Oct 31, 2021	Oct 25, 2020	Oct 27, 2019
Share price^1, 2	$169.35	$161.95	$104.73	$146.15	$88.30	$59.87
No. shares of common stock outstanding¹	813,684,638	831,067,105	844,139,722	888,513,248	914,344,189	915,304,098
US$ in millions
Common equity (market value)³	137,797)	134,591)	88,407)	129,856)	80,737)	54,799)
Add: Preferred stock: $.01 par value per share; no shares issued (book value)	—)	—)	—)	—)	—)	—)
Total equity	137,797)	134,591)	88,407)	129,856)	80,737)	54,799)
Add: Short-term debt (book value)	100)	100)	—)	—)	—)	—)
Add: Current portion of long-term debt (book value)	699)	—)	—)	—)	—)	600)
Add: Finance lease liabilities, current (book value)	—)	102)	—)	—)	—)	—)
Add: Long-term debt, net of current portion (book value)	5,460)	5,461)	5,457)	5,452)	5,448)	4,713)
Total equity and debt	144,056)	140,254)	93,864)	135,308)	86,185)	60,112)
Less: Cash and cash equivalents	8,022)	6,132)	1,995)	4,995)	5,351)	3,129)
Less: Short-term investments	1,449)	737)	586)	464)	387)	489)
Enterprise value (EV)	134,585)	133,385)	91,283)	129,849)	80,447)	56,494)

Based on: 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).

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Applied Materials Inc. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 169.35 × 813,684,638

Equity Trends: Over the six-year period, the common equity (market value) and total equity displayed a general upward trend with notable fluctuations. Starting at approximately 54.8 billion USD in late 2019, equity peaked sharply in 2021 at around 129.9 billion USD, reflecting substantial growth. However, a decline is observed in 2022, dropping to approximately 88.4 billion USD. This decrease was followed by a recovery phase in 2023 and 2024, with equity reaching new highs of approximately 134.6 billion USD and 137.8 billion USD respectively.
Total Equity and Debt: Total equity and debt mirrored the equity trend but at a higher absolute level. From roughly 60.1 billion USD in 2019, it climbed steadily to a peak of approximately 135.3 billion USD in 2021, before dropping to 93.9 billion USD in 2022. Subsequently, it rose again, achieving about 140.3 billion USD in 2023 and 144.1 billion USD in 2024. This indicates a coordinated movement between equity and debt components.
Enterprise Value (EV): Enterprise value exhibited a similar pattern to equity and total equity and debt. It started at about 56.5 billion USD in 2019, increased significantly to nearly 129.8 billion USD in 2021, then fell to roughly 91.3 billion USD in 2022. Following this contraction, EV rebounded to 133.4 billion USD in 2023 and slightly decreased to 134.6 billion USD in 2024. These fluctuations suggest sensitivity of market valuation to changes in underlying equity and debt.
Overall Insights: The data reveals a period of strong growth in the company's financial position from 2019 to 2021, followed by a notable downturn in 2022. The decline may indicate market corrections, operational challenges, or external economic factors affecting valuation. The recovery phase in subsequent years until 2024 signals renewed investor confidence and improved financial stability. The close alignment of equity, total capital structure, and enterprise value reflects consistent market and book valuation measures over time.

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Applied Materials Inc. (NASDAQ:AMAT)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)