Applied Materials

As of July 27, 2025, Applied held about 11.1 billion dollars in cash and investments against roughly 6.26 billion dollars total debt, implying net cash near 4.9 billion dollars. TTM operating cash flow is ~7.7 billion dollars with TTM capex ~1.88 billion dollars, yielding TTM free cash flow of ~5.82 billion dollars.

The company opportunistically refinanced and extended its debt maturities in September 2025. Balance sheet strength and cash generation provide ample cushion for downturns.