Company Quick10K Filing
Applied Materials
Price49.43 EPS3
Shares945 P/E17
MCap46,711 P/FCF14
Net Debt2,184 EBIT3,611
TEV48,895 TEV/EBIT14
TTM 2019-10-27, in MM, except price, ratios
10-Q 2020-04-26 Filed 2020-05-21
10-Q 2020-01-26 Filed 2020-02-20
10-K 2019-10-27 Filed 2019-12-13
10-Q 2019-07-28 Filed 2019-08-22
10-Q 2019-04-28 Filed 2019-05-23
10-Q 2019-01-27 Filed 2019-02-21
10-K 2018-10-28 Filed 2018-12-13
10-Q 2018-07-29 Filed 2018-08-23
10-Q 2018-04-29 Filed 2018-05-24
10-Q 2018-01-28 Filed 2018-02-22
10-K 2017-10-29 Filed 2017-12-15
10-Q 2017-07-30 Filed 2017-08-24
10-Q 2017-04-30 Filed 2017-05-25
10-Q 2017-01-29 Filed 2017-02-23
10-K 2016-10-30 Filed 2016-12-15
10-Q 2016-07-31 Filed 2016-08-25
10-Q 2016-05-01 Filed 2016-05-26
10-Q 2016-01-31 Filed 2016-02-25
10-K 2015-10-25 Filed 2015-12-09
10-Q 2015-07-26 Filed 2015-08-20
10-Q 2015-04-26 Filed 2015-05-21
10-Q 2015-01-25 Filed 2015-02-19
10-K 2014-10-26 Filed 2014-12-17
10-Q 2014-07-27 Filed 2014-08-21
10-Q 2014-04-27 Filed 2014-05-22
10-Q 2014-01-26 Filed 2014-02-20
10-K 2013-10-27 Filed 2013-12-04
10-Q 2013-04-28 Filed 2013-05-23
10-Q 2013-01-27 Filed 2013-02-21
10-K 2012-10-28 Filed 2012-12-05
10-Q 2012-07-29 Filed 2012-08-23
10-Q 2012-04-29 Filed 2012-05-24
10-Q 2012-01-29 Filed 2012-02-27
10-K 2011-10-30 Filed 2011-12-06
10-Q 2011-07-31 Filed 2011-08-26
10-Q 2011-05-01 Filed 2011-05-31
10-Q 2011-01-30 Filed 2011-02-28
10-K 2010-10-31 Filed 2010-12-10
10-Q 2010-08-01 Filed 2010-09-03
10-Q 2010-05-02 Filed 2010-06-09
10-Q 2010-01-31 Filed 2010-03-09
8-K 2020-07-03 Officers, Exhibits
8-K 2020-06-30 Other Events
8-K 2020-06-09
8-K 2020-05-29
8-K 2020-05-26
8-K 2020-05-14
8-K 2020-03-23
8-K 2020-03-23
8-K 2020-03-12
8-K 2020-02-21
8-K 2020-02-12
8-K 2019-11-14
8-K 2019-08-19
8-K 2019-08-15
8-K 2019-07-22
8-K 2019-06-30
8-K 2019-05-16
8-K 2019-03-07
8-K 2019-02-14
8-K 2018-11-15
8-K 2018-08-16
8-K 2018-05-17
8-K 2018-03-08
8-K 2018-02-14
8-K 2018-01-22

AMAT 10Q Quarterly Report

Part I. Financial Information
Item 1. Financial Statements
Note 1 Basis of Presentation
Note 2 Earnings per Share
Note 3 Cash, Cash Equivalents and Investments
Note 4 Fair Value Measurements
Note 5 Derivative Instruments and Hedging Activities
Note 6 Accounts Receivable, Net
Note 7 Contract Balances
Note 8 Balance Sheet Detail
Note 9 Business Combination
Note 10 Goodwill, Purchased Technology and Other Intangible Assets
Note 11 Borrowing Facilities and Debt
Note 12 Leases
Note 13 Stockholders' Equity, Comprehensive Income and Share - Based Compensation
Note 14 Income Taxes
Note 15 Warranty, Guarantees and Contingencies
Note 16 Industry Segment Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3: Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A: Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 6. Exhibits
EX-31.1 ex311amatq22020.htm
EX-31.2 ex312amatq22020.htm
EX-32.1 amat-ex321for10xqq22020.htm
EX-32.2 amat-ex322for10xqq22020.htm

Applied Materials Earnings 2020-04-26

Balance SheetIncome StatementCash Flow
2016128402012201420172020
Assets, Equity
4.63.62.71.70.8-0.22012201420172020
Rev, G Profit, Net Income
1.91.00.1-0.8-1.7-2.62012201420172020
Ops, Inv, Fin

amat-20200426
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Table of Contents

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
(Mark One)

 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended April 26, 2020
or

 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                    to                 
Commission File Number 000-06920
Applied Materials, Inc.
(Exact name of registrant as specified in its charter) 
Delaware94-1655526
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
3050 Bowers Avenue
P.O. Box 58039
Santa Clara, California 95052-8039
(Address of principal executive offices)

(408727-5555
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading SymbolName of Each Exchange on Which Registered
Common Stock, par value $.01 per shareAMATThe NASDAQ Stock Market LLC
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes          No  
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes          No  
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. 
Large accelerated filerAccelerated filer 
Non-accelerated filerSmaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes          No  
Number of shares outstanding of the issuer’s common stock as of April 26, 2020: 916,479,293




Table of Contents
APPLIED MATERIALS, INC.
FORM 10-Q FOR THE QUARTERLY PERIOD ENDED APRIL 26, 2020
TABLE OF CONTENTS
 
  Page
PART I. FINANCIAL INFORMATION
Item 1:
Item 2:
Item 3:
Item 4:
PART II. OTHER INFORMATION
Item 1:
Item 1A:
Item 2:
Item 6:



Table of Contents
PART I. FINANCIAL INFORMATION

Item 1.    Financial Statements

APPLIED MATERIALS, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(In millions, except per share amounts)
Three Months EndedSix Months Ended
April 26,
2020
April 28,
2019
April 26,
2020
April 28,
2019
(Unaudited)
Net sales$3,957  $3,539  $8,119  $7,292  
Cost of products sold2,208  2,009  4,512  4,097  
Gross profit1,749  1,530  3,607  3,195  
Operating expenses:
Research, development and engineering550  508  1,102  1,024  
Marketing and selling130  133  265  264  
General and administrative137  113  266  223  
Total operating expenses817  754  1,633  1,511  
Income from operations932  776  1,974  1,684  
Interest expense61  60  120  120  
Interest and other income, net7  43  29  83  
Income before income taxes878  759  1,883  1,647  
Provision for income taxes123  93  236  210  
Net income$755  $666  $1,647  $1,437  
Earnings per share:
Basic$0.82  $0.71  $1.80  $1.51  
Diluted$0.82  $0.70  $1.78  $1.50  
Weighted average number of shares:
Basic917  942  917  950  
Diluted923  948  925  957  
See accompanying Notes to Consolidated Condensed Financial Statements.
3

Table of Contents

APPLIED MATERIALS, INC.
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
(In millions)
Three Months EndedSix Months Ended
April 26,
2020
April 28,
2019
April 26,
2020
April 28,
2019
(Unaudited)
Net income$755  $666  $1,647  $1,437  
Other comprehensive income (loss), net of tax:
Change in unrealized gain (loss) on available-for-sale investments(1) 8  1  13  
Change in unrealized net loss on derivative instruments(126) 9  (136) (8) 
Change in cumulative translation adjustments  (1)   (1) 
Other comprehensive income (loss), net of tax(127) 16  (135) 4  
Comprehensive income$628  $682  $1,512  $1,441  
See accompanying Notes to Consolidated Condensed Financial Statements.
4

Table of Contents
APPLIED MATERIALS, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS
(In millions)
April 26,
2020
October 27,
2019
 
ASSETS
Current assets:
Cash and cash equivalents$5,281  $3,129  
Short-term investments423  489  
Accounts receivable, net2,625  2,533  
Inventories3,725  3,474  
Other current assets681  581  
Total current assets12,735  10,206  
Long-term investments1,678  1,703  
Property, plant and equipment, net1,534  1,529  
Goodwill3,426  3,399  
Purchased technology and other intangible assets, net132  156  
Deferred income taxes and other assets2,310  2,031  
Total assets$21,815  $19,024  
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt$600  $600  
Accounts payable and accrued expenses2,831  2,511  
Contract liabilities1,334  1,336  
Total current liabilities4,765  4,447  
Long-term debt, net of current portion6,215  4,713  
Income taxes payable1,238  1,275  
Other liabilities573  375  
Total liabilities12,791  10,810  
Stockholders’ equity:
Common stock9  9  
Additional paid-in capital7,687  7,595  
Retained earnings25,638  24,386  
Treasury stock(23,995) (23,596) 
Accumulated other comprehensive loss(315) (180) 
Total stockholders’ equity9,024  8,214  
Total liabilities and stockholders’ equity$21,815  $19,024  
Amounts as of April 26, 2020 are unaudited. Amounts as of October 27, 2019 are derived from the October 27, 2019 audited consolidated financial statements.
See accompanying Notes to Consolidated Condensed Financial Statements.
5

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APPLIED MATERIALS, INC
CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY
(In millions)

Common StockAdditional
Paid-In
Capital
Retained
Earnings
Treasury StockAccumulated
Other
Comprehensive
Income (Loss)
Total
Three Months Ended April 26, 2020SharesAmountSharesAmount
(Unaudited)
Balance as of January 26, 2020919  $9  $7,550  $25,085  1,082  $(23,796) $(188) $8,660  
Net income—  —  —  755  —  —  —  755  
Other comprehensive income (loss), net of tax—  —  —  —  —  —  (127) (127) 
Dividends declared ($0.22 per common share)
—  —  —  (202) —  —  —  (202) 
Share-based compensation—  —  71  —  —  —  —  71  
Issuance under stock plans2  —  66  —  —  —  —  66  
Common stock repurchases(4) —  —  —  4  (199) —  (199) 
Balance as of April 26, 2020917  $9  $7,687  $25,638  1,086  $(23,995) $(315) $9,024  

Common StockAdditional
Paid-In
Capital
Retained
Earnings
Treasury StockAccumulated
Other
Comprehensive
Income (Loss)
Total
Six Months Ended April 26, 2020SharesAmountSharesAmount
(Unaudited)
Balance as of October 27, 2019916  $9  $7,595  $24,386  1,079  $(23,596) $(180) $8,214  
Net income—  —  —  1,647  —  —  —  1,647  
Other comprehensive income (loss), net of tax—  —  —  —  —  —  (135) (135) 
Dividends declared ($0.43 per common share)
—  —  —  (395) —  —  —  (395) 
Share-based compensation—  —  164  —  —  —  —  164  
Issuance under stock plans8  —  (72) —  —  —  —  (72) 
Common stock repurchases(7)   —  —  7  (399) —  (399) 
Balance as of April 26, 2020917  $9  $7,687  $25,638  1,086  $(23,995) $(315) $9,024  

6

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Common StockAdditional
Paid-In
Capital
Retained
Earnings
Treasury StockAccumulated
Other
Comprehensive
Income (Loss)
Total
Three Months Ended April 28, 2019SharesAmountSharesAmount
(Unaudited)
Balance as of January 27, 2019949  $9  $7,265  $23,032  1,041  $(21,943) $(154) $8,209  
Net income—  —  —  666  —  —  —  666  
Other comprehensive income (loss), net of tax—  —  —  —  —  —  16  16  
Dividends declared ($0.21 per common share)
—  —  —  (196) —  —  —  (196) 
Share-based compensation—  —  65  —  —  —  —  65  
Issuance under stock plans3  —  66  —  —  —  —  66  
Common stock repurchases(16)   —  —  16  (625) —  (625) 
Balance as of April 28, 2019936  $9  $7,396  $23,502  1,057  $(22,568) $(138) $8,201  


Common StockAdditional
Paid-In
Capital
Retained
Earnings
Treasury StockAccumulated
Other
Comprehensive
Income (Loss)
Total
Six Months Ended April 28, 2019SharesAmountSharesAmount
(Unaudited)
Balance as of October 28, 2018967  $10  $7,274  $20,880  1,019  $(21,194) $(125) $6,845  
Adoption of new accounting standard (a)—  —  —  1,570  —  —  (17) 1,553  
Net income—  —  —  1,437  —  —  —  1,437  
Other comprehensive income (loss), net of tax—  —  —  —  —  —  4  4  
Dividends declared ($0.41 per common share)
—  —  —  (385) —  —  —  (385) 
Share-based compensation—  —  130  —  —  —  —  130  
Issuance under stock plans7  —  (