Applied Materials (AMAT) Q1 2026 10-Q Quarterly Report
Filed: Feb 19, 2026Period ending Jan 25, 2026
Information Technology
Semiconductors & Related DevicesSEC EDGAR Applied Materials (AMAT) 10-Q quarterly report for Q1 2026, filed with SEC EDGAR on Feb 19, 2026 for the fiscal period ending Jan 25, 2026. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Applied Materials Q1 2026 10-Q Analysis
Management Discussion & Analysis
- • Revenue $7.01B, down 2% YoY vs $7.17B, primarily due to lower Semiconductor Systems sales partly offset by higher Applied Global Services revenue
- • Operating margin 26.1% vs 30.4% YoY, down 4.3 points due to legal settlement charge, lower revenue, and increased RD&E expenses
- • Best segment: Applied Global Services revenue up 15% to $1.56B with operating margin improving to 28.1% from 24.8% YoY; worst: Semiconductor Systems revenue down 8% to $5.14B, operating margin declined to 27.8% from 33.4% YoY
- • Cash from operations $1.69B; capital expenditures $646M; stock repurchases $337M; cash dividends $365M; total cash, cash equivalents and investments increased to $13.48B from $12.9B
- • Management highlights stronger DRAM spending, shift to subscription services in AGS, export control compliance settlement, and expects continued dividends with $13.6B stock repurchase capacity remaining
Risk Factors
- • New legal risk: $253M settlement with U.S. Commerce over China export control violations signed Feb 11, 2026, with ongoing compliance obligations
- • Material update on trade risks: Expanded U.S. export license rules and entity list for China impacting market access and increasing regulatory complexity
- • Most impactful compliance risk: Evolving global export regulations and U.S. restrictions on semiconductor technology sales to China may limit sales and increase competition
- • Operational risk: Supply chain disruptions from geopolitical tensions, rare earth export restrictions by China, and semiconductor component shortages risk delivery delays
- • Financial risk: $6.5B senior unsecured notes outstanding, risk of repurchase upon change of control and downgrade; $4.1B credit facilities currently unused but available
Applied Materials Q1 2026 Quarterly FinancialsXBRL
Revenue
$7.0B
▼ -2.1% YoY
Net Income
$2.0B
▲ +71.0% YoY
Net Margin
28.9%
▲ +1236bp YoY
Source: XBRL data from Applied Materials Q1 2026 10-Q filing on SEC EDGAR. All figures in USD.
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