Applied Materials (AMAT) FY2024 results: revenue $27.2 billion, up 2.5% on the year
Applied Materials Inc. (AMAT) reported revenue of $27.2 billion for fiscal 2024, the year ended 27 October 2024, up 2.5% on the year before. Net income was $7.2 billion, up 4.7%, and diluted earnings per share $8.61. The figures are the company's own, from the 10-K it filed with the SEC on 13 December 2024.
Revenue
$27.2 billion
+2.5% on the year
FY2017FY2024
Operating margin
28.9%
28.9% a year earlier
FY2017FY2024
Net income
$7.2 billion
+4.7% on the year
FY2017FY2024
Diluted EPS
$8.61
+6.2% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
8,677
8,700
5,399
-0.3%
Capital expenditure
1,190
1,106
787
+7.6%
Free cash flow
7,487
7,594
4,612
-1.4%
Free cash flow margin
27.6%
28.6%
17.9%
Cash from investing
-2,327
-1,535
-1,357
Cash from financing
-4,470
-3,032
-7,043
Depreciation and amortisation
392
515
444
-23.9%
Share-based compensation
577
490
413
+17.8%
Buybacks
3,823
2,189
6,103
+74.6%
Dividends paid
1,192
975
873
+22.3%
Dividend per share
$1.52
$1.22
$1.02
+24.6%
Diluted shares, weighted
834m
845m
877m
-1.3%
Shares outstanding at period end
818m
833m
844m
-1.8%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
19,001
16,349
12,194
+16.2%
Short-term borrowings
n/a
n/a
0.0
Debt
6,259
5,561
5,457
+12.6%
Operating lease liabilities
259
252
287
+2.8%
Finance lease liabilities
n/a
n/a
0.0
Other liabilities
8,890
8,567
8,788
+3.8%
Total liabilities and equity
34,409
30,729
26,726
+12.0%
Fixed assets
3,339
2,723
2,307
+22.6%
Goodwill
3,732
3,732
3,700
0.0%
Intangible assets
249
294
339
-15.3%
Investments
4,236
3,018
2,566
+40.4%
Trading assets
n/a
n/a
2,566
Cash and equivalents
8,022
6,132
1,995
+30.8%
Receivables
5,234
5,165
6,068
+1.3%
Inventory
5,421
5,725
5,932
-5.3%
Other assets
4,176
3,940
1,253
+6.0%
Total assets
34,409
30,729
26,726
+12.0%
10-K for the year ended 27 October 2024, filed 13 December 2024: the filing.