Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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- Income Statement
- Statement of Comprehensive Income
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Analysis of Revenues
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Historical Valuation Ratios (Summary)
Applied Materials Inc., historical price multiples (quarterly data)
Based on: 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), 10-K (reporting date: 2019-10-27), 10-Q (reporting date: 2019-07-28), 10-Q (reporting date: 2019-04-28), 10-Q (reporting date: 2019-01-27).
- Price to Earnings (P/E) Ratio
- The Price to Earnings ratio shows a general downward trend from early 2021 through mid-2022, declining from levels above 27 in early 2021 to approximately 13.5 by mid-2022. Thereafter, the ratio gradually increased again, reaching peaks above 24 in early 2024, before declining slightly again toward the end of the period in early 2025. This pattern suggests a period of declining market valuation relative to earnings, followed by renewed investor optimism and valuation expansion, with some recent moderation in valuation.
- Price to Operating Profit (P/OP) Ratio
- The Price to Operating Profit ratio exhibits a similar pattern to the P/E ratio, starting from around 18.5 in early 2020 and rising to a peak above 23 in early 2021. It then declined steadily to a low near 11 by mid-2022. Subsequently, the ratio increased again, reaching highs above 23 in early 2024, before retreating somewhat in late 2024 and early 2025. The ratio indicates fluctuations in market valuation relative to operating profitability, with a notable trough in mid-2022 and a recovery phase afterward.
- Price to Sales (P/S) Ratio
- The Price to Sales ratio displays an upward trend from early 2020 through early 2021, increasing from roughly 3.75 to above 6.3. After peaking, the ratio dipped to around 3.4 by mid-2022, followed by a renewed increase that brought the ratio back above 6.8 in early 2024. Toward the end of the timeline, the ratio fell off again to near 4.6. This pattern suggests cycles of changing market sentiment regarding sales valuation, with periods of both expansion and contraction.
- Price to Book Value (P/BV) Ratio
- The Price to Book Value ratio started at approximately 4.5 in early 2019 and rose steadily to a peak exceeding 10.5 during 2021. After this peak, the ratio declined consistently through 2022 and 2023, falling below 7 by early 2025. This trend reflects an initial increase in market valuation relative to book value, followed by a sustained correction or normalization phase in the most recent years.
- Overall Analysis
- Across all valuation multiples, there is a marked pattern of peak valuations occurring around 2021, followed by notable declines through 2022. Subsequently, most ratios showed a partial recovery in 2023 and early 2024 before experiencing some degree of decline again toward early 2025. The fluctuations likely indicate changing investor sentiment and reassessment of growth prospects, profitability, and underlying asset values over the observed period. The synchronization of trends across different ratios suggests these valuation changes are driven by broad market factors affecting the company rather than isolated financial metrics.
Price to Earnings (P/E)
Applied Materials Inc., historical P/E calculation (quarterly data)
| Apr 27, 2025 | Jan 26, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Oct 25, 2020 | Jul 26, 2020 | Apr 26, 2020 | Jan 26, 2020 | Oct 27, 2019 | Jul 28, 2019 | Apr 28, 2019 | Jan 27, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Net income (in millions) | ||||||||||||||||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2019-10-27), 10-Q (reporting date: 2019-07-28), 10-Q (reporting date: 2019-04-28), 10-Q (reporting date: 2019-01-27).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (Net incomeQ2 2025
+ Net incomeQ1 2025
+ Net incomeQ4 2024
+ Net incomeQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Applied Materials Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the financial data reveals several key trends over the examined periods.
- Share Price
- The share price demonstrates a general upward trajectory with fluctuations. Beginning at $38.83, it experienced steady growth, peaking initially at $146.15 in October 2021. Following this peak, a decline to around $104.73 occurred in mid-2022, succeeded by another recovery phase, reaching $217.95 in April 2024 before declining again to $160.52 by April 2025. This pattern suggests periods of strong investor confidence interrupted by corrections or market adjustments.
- Earnings per Share (EPS)
- Earnings per share data, available from January 2020 onward, show a consistent upward trend with minor fluctuations. EPS rose steadily from $2.96 in January 2020 to a peak of $9.04 in October 2024, indicating improving profitability over time. However, slight decreases occur towards the end of the dataset, with EPS falling to $7.81 in April 2025 before a partial rebound to $8.42, suggesting potential volatility or challenges in recent periods.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio displays notable variability, initially starting at 20.25 in January 2020 and fluctuating between approximately 13.55 and 28.42 throughout the period. The ratio reached its lowest levels (around 13.55) during mid to late 2022, coinciding with the dip in share price and elevated EPS, implying that the stock was relatively undervalued at that time. Subsequently, the P/E increased again, peaking at 28.42 in August 2021 before settling around 19.06 by April 2025. These oscillations suggest changing market sentiments regarding future growth expectations and valuation.
Overall, the data indicates strong earnings growth that generally supports the upward trend in share price. The fluctuations in P/E ratio reflect shifting investor perceptions and valuation adjustments in response to earnings momentum and market conditions. Recent decreases in EPS and share price towards the end of the timeframe may warrant further investigation to understand underlying causes and future outlook.
Price to Operating Profit (P/OP)
Applied Materials Inc., historical P/OP calculation (quarterly data)
| Apr 27, 2025 | Jan 26, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Oct 25, 2020 | Jul 26, 2020 | Apr 26, 2020 | Jan 26, 2020 | Oct 27, 2019 | Jul 28, 2019 | Apr 28, 2019 | Jan 27, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Income from operations (in millions) | ||||||||||||||||||||||||||||||||||
| Operating profit per share2 | ||||||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/OP ratio4 | ||||||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2019-10-27), 10-Q (reporting date: 2019-07-28), 10-Q (reporting date: 2019-04-28), 10-Q (reporting date: 2019-01-27).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Income from operationsQ2 2025
+ Income from operationsQ1 2025
+ Income from operationsQ4 2024
+ Income from operationsQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Applied Materials Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited a generally upward trajectory from January 2019 through April 2024, increasing from $38.83 to peak levels above $200 by early 2024. Notably, the price saw significant growth between early 2020 and mid-2021, rising sharply from approximately $55 to over $140. Following this peak, some volatility was observed, with prices retreating to around $105 to $115 in mid-2022 before recovering again to surpass $160 by late 2023. The most recent data shows a slight decline from the peak in early 2024 to approximately $160 by April 2025, indicating some short-term contraction after a prolonged rise.
- Operating Profit Per Share (OPPS)
- Operating profit per share, reported from the first quarter of 2020, demonstrates a consistent upward trend. Starting at $3.66 in January 2020, OPPS increased steadily each quarter, reaching $10.38 by January 2025. This continuous growth suggests improving operational performance and profitability over the five-year period, with no sign of decline or plateauing, indicating sustained efficiency gains or revenue expansion.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio fluctuated over the reported period, reflecting changing market valuations relative to operating earnings. Initial values around 16.36 to 17.5 in early 2020 declined to a low near 11.35 in late 2021, indicating that share prices were undervaluing operating profit relative to previous quarters. Subsequently, the ratio trended upward to above 23 by mid-2023, suggesting growing investor optimism or possibly share price appreciation outpacing earnings gains during this period. The ratio then declined to around 15.46 by April 2025. Overall, this metric's variation denotes shifts in market sentiment and valuation multiples, with a tendency toward moderate valuation levels in the most recent quarters.
- Combined Insights
- The data reflects a company experiencing progressive growth in operating profitability, accompanied by share price appreciation, albeit with episodic volatility in market valuation multiples. The sustained rise in operating profit per share underscores the company’s enhancing core financial strength, while fluctuating P/OP ratios indicate periods of cautious to enthusiastic investor sentiment. The share price, generally rising but experiencing corrections, aligns with the profitability trends but also suggests sensitivity to broader market conditions or sector-specific factors affecting valuation.
Price to Sales (P/S)
Applied Materials Inc., historical P/S calculation (quarterly data)
| Apr 27, 2025 | Jan 26, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Oct 25, 2020 | Jul 26, 2020 | Apr 26, 2020 | Jan 26, 2020 | Oct 27, 2019 | Jul 28, 2019 | Apr 28, 2019 | Jan 27, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Net revenue (in millions) | ||||||||||||||||||||||||||||||||||
| Sales per share2 | ||||||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/S ratio4 | ||||||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2019-10-27), 10-Q (reporting date: 2019-07-28), 10-Q (reporting date: 2019-04-28), 10-Q (reporting date: 2019-01-27).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (Net revenueQ2 2025
+ Net revenueQ1 2025
+ Net revenueQ4 2024
+ Net revenueQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Applied Materials Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The data indicates a general upward trend in the share price over the observed period, with notable fluctuations. Starting from a value below 40 US$, the share price experienced substantial growth reaching above 200 US$ by early 2024, followed by some declines and moderate recovery towards the later periods in 2025. This reflects increased market valuation with some volatility that may correspond to varying market conditions or company performance expectations.
Sales per share, available from early 2020, show a consistent and steady increase without any decline, moving from approximately 16 US$ to 35 US$ by the first quarter of 2025. This steady growth in sales per share indicates positive operational performance and increasing revenue generation on a per-share basis.
The Price-to-Sales (P/S) ratio demonstrates a more volatile pattern, fluctuating between approximately 3.3 and 6.8 across the periods. Initially, the ratio rises alongside share price growth, peaking around mid-2021 and 2024, suggesting increasing market optimism or overvaluation relative to sales. Following these peaks, the P/S ratio declines but remains elevated compared to the start of the series, indicating that while share prices have grown, sales have also increased, balancing the valuation metric somewhat.
- Share Price Trends
- Exhibited strong growth, rising from under 40 US$ to above 200 US$, indicating strong investor confidence but with significant periodic volatility.
- Sales per Share Trends
- Showed steady and continuous growth with no recorded declines, reflecting improving sales performance per share over time.
- P/S Ratio Trends
- Displayed considerable variability, with peaks suggestive of heightened market valuation and troughs indicating rebalancing relative to sales growth.
- Insights
- The combination of rising share prices and increasing sales per share suggests overall company growth and positive financial health. The fluctuations in the P/S ratio highlight periods of changing market sentiment or valuation adjustments, which may warrant further investigation to understand underlying causes.
Price to Book Value (P/BV)
Applied Materials Inc., historical P/BV calculation (quarterly data)
| Apr 27, 2025 | Jan 26, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Oct 25, 2020 | Jul 26, 2020 | Apr 26, 2020 | Jan 26, 2020 | Oct 27, 2019 | Jul 28, 2019 | Apr 28, 2019 | Jan 27, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Stockholders’ equity (in millions) | ||||||||||||||||||||||||||||||||||
| Book value per share (BVPS)2 | ||||||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/BV ratio4 | ||||||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2019-10-27), 10-Q (reporting date: 2019-07-28), 10-Q (reporting date: 2019-04-28), 10-Q (reporting date: 2019-01-27).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Applied Materials Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price demonstrated a consistent overall upward trend from early 2019 through early 2025, rising from approximately $38.83 to a peak of about $217.95 in April 2024 before experiencing a modest decline towards $160.52 by April 2025. Notable price surges occurred around late 2020 through mid-2021 and again in late 2023 through early 2024. Periods of volatility are observed, including a temporary dip in early 2020 and fluctuations in the latter half of 2022, indicating intermittent investor sentiment changes or market conditions impacting valuation.
- Book Value per Share (BVPS)
- Book value per share showed steady progression throughout the period, increasing from $8.65 at the start of 2019 to $23.63 by April 2025. This reflects continuous growth in the company's net asset base on a per-share basis, indicating improved underlying equity value. The growth in BVPS appears relatively stable and less volatile compared to the share price, with incremental rises each quarter, suggesting consistent accumulation of assets or retained earnings.
- Price-to-Book (P/B) Ratio
- The P/B ratio exhibits significant fluctuations, starting at approximately 4.49 in early 2019 and rising to a high of about 10.6 by late 2021. Subsequent periods reveal oscillations between roughly 6.79 and 10.5, with peaks generally aligning with surges in share price and valleys corresponding to adjustments or declines in share price relative to book value. The P/B ratio's variability indicates changing market valuations relative to the company's tangible equity value, with the market at times assigning substantial premiums likely due to growth expectations or other qualitative factors.
- Summary of Financial Trends
- Over the assessed period, the company experienced robust growth in equity value and market capitalization as reflected in rising book value per share and share price. The share price demonstrated higher volatility than book value, leading to wide swings in the P/B ratio. The elevated P/B ratios at multiple points suggest that the market has frequently priced the company well above its book value, possibly due to optimism about future growth or strong operational performance. The steady increase in book value per share supports a foundation of improving intrinsic value, while the share price and P/B movements highlight market perception variability. The recent slight correction in share price following the peak may reflect market repositioning or broader economic influences but does not significantly diminish the underlying equity growth visible in book value trends.