Applied Materials (AMAT) 10-K Summary — Year Ended Oct 29, 2023
Applied Materials filed its annual report for the most recent fiscal year. The report shows increased revenue and strong cash flow, while highlighting various risks.
Key takeaway
Year ended Oct 29, 2023 · FY2025 10-K
Applied Materials filed its annual report for the most recent fiscal year. The report shows increased revenue and strong cash flow, while highlighting various risks.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$26.5B
Revenue reported for the fiscal year.
Operating income
$7.7B
Income from operations reported for the year.
Net income
$6.9B
Net income reported for the year.
Operating cash flow
$8.7B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Oct 31, 2021 | $23.1B | n/a |
| Oct 30, 2022 | $25.8B | +11.8% |
| Oct 29, 2023 | $26.5B | +2.8% |
Business overview
The provided filing sections do not include a description of the company's business. The stock performance comparison to the PHLX Semiconductor Index suggests the company operates in the semiconductor industry.
Financial performance
Revenue grew over the three-year period shown, though the growth rate slowed in the most recent year. Operating income, net income, and operating cash flow all remained robust.
Material risks
The report identifies forward-looking statements that involve risks and uncertainties, including customer demand, market trends, and other factors. These risks could cause actual results to differ materially from expectations.
Liquidity and capital
The company has a large authorized stock repurchase program and generated strong operating cash flow. The filing does not provide additional details on capital allocation strategy.
What to watch
Monitor the trend in revenue growth, as it decelerated in the most recent fiscal year.