Applied Materials debt and dilution99

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$7,743M

Cash & equivalents

USD millions

$7,037M

Net debt

USD millions

$706M

Debt / equity

0.3×

Debt / assets

17.79%

Net debt / EBITDA

× · TTM

0.07×

Debt / FCF

× · TTM

1.38×

Interest coverage

× · TTM

33×

Current ratio

2.42×

Diluted shares

Million shares

800M shares

Basic shares

Million shares

794M shares

Share count growth

-0.5%

Share repurchases

USD millions

$440M

Quarterly data

Applied Materials capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2026 Q3	Jul 26, 2026	7,743	7,037	706	0.3×	17.79%	0.07×	1.38×	33×	2.42×	800	794	-0.5%	440
FY 2026 Q2	Apr 26, 2026	7,654	6,301	1,353	0.32×	19%	0.15×	1.43×	30.18×	2.51×	799	794	-1.85%	400
FY 2026 Q1	Jan 25, 2026	—	7,218	—	—	—	—	—	29×	2.71×	799	793	-2.58%	337
FY 2025 Q4	Oct 26, 2025	6,555	7,241	-686	0.32×	18.06%	-0.08×	1.15×	30.81×	2.61×	799	795	-3.17%	851
FY 2025 Q3	Jul 27, 2025	6,962	5,384	1,578	0.36×	20.35%	0.17×	1.2×	32.66×	2.5×	802	798	-3.39%	1,056
FY 2025 Q2	Apr 27, 2025	6,961	6,169	792	0.37×	20.7%	0.09×	1.19×	31.92×	2.46×	812	809	-2.53%	1,670
FY 2025 Q1	Jan 26, 2025	6,960	6,264	696	0.37×	20.88%	0.08×	1.17×	32.04×	2.68×	819	814	-2.05%	1,318
FY 2024 Q4	Oct 27, 2024	6,959	8,022	-1,063	0.37×	20.22%	-0.13×	0.93×	31.85×	2.51×	831	821	-1.56%	1,442
FY 2024 Q3	Jul 28, 2024	—	8,288	—	—	—	—	—	32.6×	2.86×	833	826	-1.43%	861
FY 2024 Q2	Apr 28, 2024	—	7,085	—	—	—	—	—	32.42×	2.8×	836	830	-1.54%	820
FY 2024 Q1	Jan 28, 2024	—	6,854	—	—	—	—	—	32.15×	2.71×	837	831	-1.66%	700
FY 2023 Q4	Oct 29, 2023	5,561	6,132	-571	0.34×	18.1%	-0.07×	0.73×	32.16×	2.6×	842	834	-2.23%	700
FY 2023 Q3	Jul 30, 2023	—	6,025	—	—	—	—	—	32.39×	2.3×	843	838	-3.01%	439
FY 2023 Q2	Apr 30, 2023	—	4,588	—	—	—	—	—	33.47×	2.26×	847	843	-3.99%	800
FY 2023 Q1	Jan 29, 2023	—	3,547	—	—	—	—	—	33.83×	2.31×	849	845	-4.95%	250
FY 2022 Q4	Oct 30, 2022	—	1,995	—	—	—	—	—	34.16×	2.16×	859	853	-4.98%	1,500
FY 2022 Q3	Jul 31, 2022	—	2,956	—	—	—	—	—	34.25×	2.26×	869	864	-4.85%	1,000
FY 2022 Q2	May 1, 2022	—	3,331	—	—	—	—	—	34.48×	2.29×	883	878	-4.36%	1,800
FY 2022 Q1	Jan 30, 2022	—	5,264	—	—	—	—	—	32.68×	2.51×	897	889	-2.84%	1,803
FY 2021 Q4	Oct 31, 2021	—	4,995	—	—	—	—	—	29.19×	2.54×	906.69	897.69	-2%	1,500
FY 2021 Q3	Aug 1, 2021	—	6,066	—	—	—	—	—	25.87×	2.98×	918	908	-0.77%	1,500
FY 2021 Q2	May 2, 2021	—	6,305	—	—	—	—	—	21.71×	3.1×	927	918	0.11%	750
FY 2021 Q1	Jan 31, 2021	—	6,213	—	—	—	—	—	19.03×	3.17×	925	915	-0.11%	0
FY 2020 Q4	Oct 25, 2020	5,448	5,351	97	0.52×	24.37%	0.02×	1.61×	18.19×	3×	920	916	-0.33%	50
FY 2020 Q3	Jul 26, 2020	5,447	4,350	1,097	0.57×	25.73%	0.25×	1.84×	16.44×	2.86×	922	915	-1.51%	200
FY 2020 Q2	Apr 26, 2020	6,815	5,281	1,534	0.76×	31.24%	0.38×	2.37×	15.36×	2.67×	923	917	-2.65%	199
FY 2020 Q1	Jan 26, 2020	5,314	3,424	1,890	0.61×	26.88%	0.49×	1.78×	14.76×	2.36×	927	916	-4.28%	200
FY 2019 Q4	Oct 27, 2019	5,913	3,129	2,784	0.72×	31.08%	0.75×	2.11×	14.14×	2.3×	930	919	-5.65%	500
FY 2019 Q3	Jul 28, 2019	—	3,014	—	—	—	—	—	14.71×	2.65×	937	929	-6.54%	528
FY 2019 Q2	Apr 28, 2019	—	3,116	—	—	—	—	—	16.56×	2.79×	948	942	-8.45%	625
FY 2019 Q1	Jan 27, 2019	—	3,192	—	—	—	—	—	19.18×	2.72×	965	957	-9.38%	750
FY 2018 Q4	Oct 28, 2018	5,309	3,440	1,869	0.78×	29.87%	0.36×	1.68×	20.5×	2.64×	987	974	-8.46%	751
FY 2018 Q3	Jul 29, 2018	5,308	3,374	1,934	0.78×	29.68%	0.36×	1.88×	21.12×	2.52×	1,005	994	-7.19%	1,250
FY 2018 Q2	Apr 29, 2018	5,306	4,870	436	0.75×	28.68%	0.09×	1.47×	20.1×	2.6×	1,040	1,029	-4.55%	2,500
FY 2018 Q1	Jan 28, 2018	5,305	6,799	-1,494	0.62×	26.98%	-0.32×	1.34×	19.44×	2.96×	1,071	1,056	-2.04%	782
FY 2017 Q4	Oct 29, 2017	5,304	5,010	294	0.57×	27.31%	0.07×	1.63×	19.54×	3.14×	1,075	1,064	-1.7%	385
FY 2017 Q3	Jul 30, 2017	5,303	5,278	25	0.61×	27.8%	0.01×	1.56×	19.82×	2.91×	1,083	1,071	-1.11%	375
FY 2017 Q2	Apr 30, 2017	5,502	4,944	558	0.67×	30.16%	0.16×	1.81×	19.75×	2.93×	1,087	1,078	-3.14%	282
FY 2017 Q1	Jan 29, 2017	3,325	3,491	-166	0.43×	21.81%	-0.06×	1.25×	17.25×	2.39×	1,089	1,078	-5.93%	130
FY 2016 Q4	Oct 30, 2016	3,543	3,406	137	0.49×	24.29%	0.05×	1.6×	13.88×	2.3×	1,094.46	1,082.38	-8.35%	171
FY 2016 Q3	Jul 31, 2016	3,343	2,828	515	0.49×	24.4%	0.24×	1.74×	12.07×	2.5×	1,093	1,083	-11.3%	196
FY 2016 Q2	May 1, 2016	3,343	2,470	873	0.51×	25.57%	0.44×	2.62×	11.84×	2.58×	1,119	1,113	-9.51%	900
FY 2016 Q1	Jan 31, 2016	3,343	2,962	381	0.47×	25.09%	0.19×	3.11×	13.02×	3×	1,154	1,146	-6.37%	625
FY 2015 Q4	Oct 25, 2015	5,742	4,797	945	0.75×	37.51%	0.46×	6.06×	16.44×	2.44×	1,190	1,181	-3.28%	700
FY 2015 Q3	Jul 26, 2015	1,947	2,574	-627	0.24×	14.8%	-0.31×	2.23×	17.89×	2.33×	1,231	1,221	0.25%	625
FY 2015 Q2	Apr 26, 2015	—	3,067	—	—	—	—	—	17.84×	2.76×	1,241	1,230	1.15%	0
FY 2015 Q1	Jan 25, 2015	—	2,929	—	—	—	—	—	17.72×	2.75×	1,240	1,224	1.49%	0
FY 2014 Q4	Oct 26, 2014	1,947	3,002	-1,055	0.25×	14.78%	-0.56×	1.25×	16×	2.47×	1,234	1,221	1.33%	0
FY 2014 Q3	Jul 27, 2014	—	2,726	—	—	—	—	—	13.74×	2.41×	1,233	1,218	1.25%	0
FY 2014 Q2	Apr 27, 2014	—	2,453	—	—	—	—	—	12.4×	2.4×	1,229	1,216	1.08%	0
FY 2014 Q1	Jan 26, 2014	—	2,144	—	—	—	—	—	7.53×	2.43×	1,225	1,206	0.67%	0
FY 2013 Q4	Oct 27, 2013	—	1,711	—	—	—	—	—	4.55×	2.31×	1,222	1,205	-1.07%	47
FY 2013 Q3	Jul 28, 2013	—	1,745	—	—	—	—	—	-2.96×	2.38×	1,220	1,203	-4.3%	50
FY 2013 Q2	Apr 28, 2013	1,900	1,545	355	0.28×	16.25%	1.71×	1.7×	-2.17×	2.32×	1,203	1,203	-6.67%	100
FY 2013 Q1	Jan 27, 2013	1,900	1,523	377	0.27×	16.22%	0.55×	1.26×	2.88×	2.42×	1,212	1,198	-7.78%	48
FY 2012 Q4	Oct 28, 2012	1,900	1,392	508	0.26×	15.7%	0.61×	1.12×	4.33×	2.25×	1,232	1,218	-7.24%	516
FY 2012 Q3	Jul 29, 2012	1,900	1,529	371	0.23×	14.26%	0.22×	0.98×	13.38×	2.44×	1,268	1,257	-4.63%	500
FY 2012 Q2	Apr 29, 2012	1,947	1,761	186	0.22×	14.03%	0.09×	1.04×	17.04×	2.37×	1,301	1,289	-2.35%	200
FY 2012 Q1	Jan 29, 2012	1,949	1,681	268	0.23×	14.33%	0.12×	0.99×	24.41×	2.47×	1,310	1,299	-1.89%	200
FY 2011 Q4	Oct 30, 2011	1,947	5,960	-4,013	0.22×	14.05%	-1.52×	0.88×	40.64×	3.71×	1,321	1,313	-1.53%	175
FY 2011 Q3	Jul 31, 2011	1,947	5,018	-3,071	0.23×	13.81%	-1.03×	0.94×	67.17×	3.13×	1,330	1,318	-1.62%	25
FY 2011 Q2	May 1, 2011	205	2,558	-2,353	0.03×	1.71%	-0.94×	0.11×	105.11×	2.44×	1,333	1,320	-1.83%	118
FY 2011 Q1	Jan 30, 2011	205	1,974	-1,769	0.03×	1.82%	-0.79×	0.13×	90.52×	2.45×	1,335	1,324	-1.34%	150
FY 2010 Q4	Oct 31, 2010	205.53	1,857.66	-1,652.14	0.03×	1.88%	-0.98×	0.13×	64.34×	2.34×	1,343.32	1,333.43	-0.35%	150
FY 2010 Q3	Aug 1, 2010	206.29	1,564.34	-1,358.05	0.03×	1.92%	-1.17×	0.17×	40.61×	2.27×	1,348.81	1,339.66	0.48%	99.92
FY 2010 Q2	May 2, 2010	206.65	1,596.43	-1,389.78	0.03×	1.98%	-1.53×	0.19×	29.14×	2.4×	1,352.44	1,344.62	—	—
FY 2010 Q1	Jan 31, 2010	212.95	1,399.05	-1,186.11	0.03×	2.13%	—	—	—	2.57×	1,349.57	1,341.94	—	—
FY 2009 Q4	Oct 25, 2009	201.89	1,576.38	-1,374.49	0.03×	2.11%	—	2.4×	-18.48×	2.93×	1,338.13	1,338.13	—	0
FY 2009 Q3	Jul 26, 2009	202.4	1,555.47	-1,353.07	0.03×	2.11%	—	—	—	2.83×	1,333.28	1,333.28	—	0

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · AMAT, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.