Applied Materials (AMAT) FY2025 10-K Annual Report
Applied Materials (AMAT) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Dec 12, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Applied Materials FY2025 10-K Analysis
Business Overview
- • Core business: manufacturing equipment, services, and software for semiconductor, display, and related industries
- • Increased R&D spend to $3.57B in FY2025, up 10.5% YoY, reflecting investment in technology development
Management Discussion & Analysis
- • Revenue $28.37B, up 4% YoY ($1.19B), driven by Semiconductor Systems +4% ($887M) and AGS +3% ($160M)
- • Operating margin 29.2% vs 28.9%, driven by Semiconductor Systems margin 35.5% vs 35.1%, AGS margin down 28.1% vs 29.1%
Risk Factors
- • U.S. export control regulations on semiconductor tech to China, including expanded licensing and "Entity List" restrictions, limiting market access and increasing compliance costs
- • Geopolitical risk from 89% net revenue outside U.S., especially China, Taiwan, and Korea, exposed to trade restrictions, tariffs, and export license delays
Applied Materials FY2025 Key Financial MetricsXBRL
Revenue
$28.4B
▲ +4.4% YoY
Net Income
$7.0B
▼ -2.5% YoY
Gross Margin
48.7%
▲ +122bp YoY
Operating Margin
29.2%
▲ +27bp YoY
Net Margin
24.7%
▼ -174bp YoY
ROE
34.3%
▼ -349bp YoY
Total Assets
$36.3B
▲ +5.5% YoY
EPS (Diluted)
$8.66
▲ +0.6% YoY
Operating Cash Flow
$8.0B
▼ -8.3% YoY
Source: XBRL data from Applied Materials FY2025 10-K filing on SEC EDGAR. All figures in USD.
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