Applied Materials (AMAT) FY2023 results: revenue $26.5 billion, up 2.8% on the year
Applied Materials Inc. (AMAT) reported revenue of $26.5 billion for fiscal 2023, the year ended 29 October 2023, up 2.8% on the year before. Net income was $6.9 billion, up 5.1%, and diluted earnings per share $8.11. The figures are the company's own, from the 10-K it filed with the SEC on 15 December 2023.
Revenue
$26.5 billion
+2.8% on the year
FY2016FY2023
Operating margin
28.9%
30.2% a year earlier
FY2016FY2023
Net income
$6.9 billion
+5.1% on the year
FY2016FY2023
Diluted EPS
$8.11
+9.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
8,700
5,399
5,442
+61.1%
Capital expenditure
1,106
787
668
+40.5%
Free cash flow
7,594
4,612
4,774
+64.7%
Free cash flow margin
28.6%
17.9%
20.7%
Cash from investing
-1,535
-1,357
-1,216
Cash from financing
-3,032
-7,043
-4,591
Depreciation and amortisation
515
444
394
+16.0%
Share-based compensation
490
413
346
+18.6%
Buybacks
2,189
6,103
3,750
-64.1%
Dividends paid
975
873
838
+11.7%
Dividend per share
$1.22
$1.02
$0.94
+19.6%
Diluted shares, weighted
845m
877m
919m
-3.6%
Shares outstanding at period end
833m
844m
892m
-1.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
16,349
12,194
12,247
+34.1%
Short-term borrowings
n/a
0.0
n/a
Debt
5,561
5,457
5,452
+1.9%
Operating lease liabilities
252
287
228
-12.2%
Finance lease liabilities
n/a
0.0
n/a
Other liabilities
8,567
8,788
7,898
-2.5%
Total liabilities and equity
30,729
26,726
25,825
+15.0%
Fixed assets
2,723
2,307
1,934
+18.0%
Goodwill
3,732
3,700
3,479
+0.9%
Intangible assets
294
339
104
-13.3%
Investments
3,018
2,566
2,519
+17.6%
Trading assets
n/a
2,566
2,519
Cash and equivalents
6,132
1,995
4,995
+207.4%
Receivables
5,165
6,068
4,953
-14.9%
Inventory
5,725
5,932
4,309
-3.5%
Other assets
3,940
1,253
1,013
+214.4%
Total assets
30,729
26,726
25,825
+15.0%
10-K for the year ended 29 October 2023, filed 15 December 2023: the filing.