Applied Materials, Inc. (AMAT) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 843M | 1.69B | 2.83B | 2.63B | 1.57B | 925M | 2.58B | 2.38B | 1.39B | 2.33B | 1.55B | 2.58B | 2.29B | 2.27B | 857M | 1.47B | 415M | 2.66B | 1.15B | 1.69B |
| Operating CF Margin % | 10.66% | 24.04% | 41.59% | 36.07% | 22.13% | 12.91% | 36.55% | 35.19% | 20.94% | 34.67% | 23.13% | 40.2% | 34.57% | 33.68% | 12.7% | 22.53% | 6.65% | 42.39% | 18.75% | 27.21% |
| Operating CF Growth % | -46.34% | 82.27% | 9.83% | 10.44% | 12.86% | -60.22% | 65.59% | -7.67% | -39.27% | 2.42% | 81.45% | 75.83% | 452.29% | -14.6% | -25.35% | -12.87% | -65.04% | 87.05% | -12.7% | 94.46% |
| Net Income | -780M | 2.03B | 1.73B | 1.78B | 2.14B | 1.19B | 1.73B | 1.71B | 1.72B | 2.02B | 2B | 1.56B | 1.57B | 1.72B | 1.59B | 1.61B | 1.54B | 1.79B | 1.71B | 1.72B |
| Depreciation & Amortization | -8M | 127M | 110M | 113M | 103M | 105M | 110M | 95M | 96M | 91M | 130M | 136M | 129M | 120M | 123M | 108M | 111M | 102M | 105M | 98M |
| Stock-Based Compensation | 38M | 207M | 141M | 158M | 159M | 195M | 141M | 132M | 134M | 170M | 115M | 114M | 113M | 148M | 99M | 95M | 101M | 118M | 74M | 81M |
| Deferred Taxes | -230M | -78M | -313M | 280M | 4M | 668M | -248M | -179M | -134M | -72M | 198M | -38M | -115M | -21M | -14M | 47M | -257M | 1M | 36M | 20M |
| Other Non-Cash Items | 250M | -202M | -99M | -284M | -109M | 95M | 246M | 48M | -12M | -235M | -149M | 15M | 167M | 7M | 22M | 22M | -24M | 12M | -41M | -15M |
| Working Capital Changes | 1.57B | -394M | 1.26B | 588M | -723M | -1.32B | 595M | 584M | -414M | 352M | -743M | 796M | 423M | 299M | -964M | -409M | -1.05B | 633M | -738M | -214M |
| Change in Receivables | -208M | 208M | 587M | 415M | -189M | -764M | -264M | -192M | -78M | 465M | 65M | 286M | -131M | 683M | -1.11B | -67M | -478M | 548M | -1.13B | -447M |
| Change in Inventory | 82M | -82M | -108M | -151M | -155M | -80M | 147M | 123M | -45M | 79M | 84M | 131M | 114M | -122M | -426M | -464M | -483M | -217M | -192M | -64M |
| Change in Payables | -76M | -760M | 172M | 227M | 337M | -429M | 301M | 235M | 284M | -539M | 303M | 172M | -46M | -567M | 195M | 335M | 253M | -393M | 311M | 309M |
| Cash from Investing | 179M | -780M | -139M | -1.97B | 221M | -897M | -1.07B | -660M | -149M | -447M | -489M | -425M | -322M | -299M | -190M | -616M | -413M | -138M | -587M | -194M |
| Capital Expenditures | -11M | -646M | -785M | -584M | -510M | -381M | -407M | -297M | -257M | -229M | -309M | -255M | -255M | -287M | -223M | -210M | -210M | -144M | -206M | -137M |
| CapEx % of Revenue | 0.14% | 9.21% | 11.54% | 8% | 7.18% | 5.32% | 5.78% | 4.38% | 3.87% | 3.41% | 4.6% | 3.97% | 3.85% | 4.26% | 3.3% | 3.22% | 3.36% | 2.3% | 3.36% | 2.21% |
| Acquisitions | 175M | 0 | 0 | 0 | -1M | -28M | -220M | 0 | 0 | 218M | 309M | -316M | 2M | -20M | 0 | -441M | 203M | 0 | 206M | -80M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -6M | 0 | 0 | 0 | 33M | 0 | 220M | 0 | 0 | -218M | -309M | 309M | 0 | 0 | 0 | 0 | -203M | 0 | -206M | 80M |
| Cash from Financing | -75M | -931M | -831M | -1.46B | -1.9B | -1.79B | -1.77B | -522M | -1.02B | -1.16B | -966M | -720M | -928M | -418M | -1.63B | -1.23B | -1.94B | -2.25B | -1.63B | -1.73B |
| Debt Issued (Net) | -100M | 0 | 291M | 0 | -2M | 0 | 13M | 695M | -14M | 1M | 1M | -106M | 1M | 188M | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 174M | -337M | -719M | -1.06B | -1.54B | -1.32B | -1.32B | -861M | -701M | -700M | -714M | -309M | -689M | -250M | -1.4B | -1B | -1.7B | -1.8B | -1.41B | -1.5B |
| Dividends Paid | 0 | -365M | -365M | -368M | -325M | -326M | -329M | -331M | -266M | -266M | -268M | -268M | -219M | -220M | -223M | -225M | -211M | -214M | -216M | -219M |
| Share Repurchases | 174M | -337M | -851M | -1.06B | -1.67B | -1.32B | -1.44B | -861M | -820M | -700M | -700M | -439M | -800M | -250M | -1.5B | -1B | -1.8B | -1.8B | -1.5B | -1.5B |
| Other Financing | -149M | -229M | -38M | -33M | -35M | -142M | -135M | -25M | -41M | -192M | 15M | -37M | -21M | -136M | -7M | -3M | -21M | -235M | -7M | -12M |
| Net Change in Cash | 947M | -23M | 1.86B | -790M | -111M | -1.76B | -265M | 1.2B | 221M | 721M | 100M | 1.44B | 1.04B | 1.55B | -960M | -375M | -1.93B | 268M | -1.07B | -239M |
| Free Cash Flow | 832M | 1.04B | 2.04B | 2.05B | 1.06B | 544M | 2.17B | 2.09B | 1.14B | 2.1B | 1.25B | 2.33B | 2.04B | 1.98B | 634M | 1.26B | 205M | 2.51B | 942M | 1.55B |
| FCF Margin % | 10.52% | 14.83% | 30.04% | 28.07% | 14.94% | 7.59% | 30.77% | 30.81% | 17.08% | 31.25% | 18.53% | 36.23% | 30.72% | 29.43% | 9.39% | 19.31% | 3.28% | 40.09% | 15.38% | 25% |
| FCF Growth % | -21.58% | 91.18% | -5.77% | -1.82% | -6.52% | -74.05% | 74% | -10.31% | -44.28% | 5.7% | 96.53% | 84.91% | 893.66% | -21.12% | -32.7% | -18.72% | -79.15% | 93.38% | -18.3% | 98.59% |
| FCF per Share | 1.04 | 1.30 | 2.56 | 2.53 | 1.30 | 0.66 | 2.62 | 2.51 | 1.36 | 2.50 | 1.48 | 2.76 | 2.40 | 2.34 | 0.74 | 1.45 | 0.23 | 2.80 | 1.04 | 1.69 |
| FCF Conversion (FCF/Net Income) | 0.30x | 0.83x | 1.49x | 1.48x | 0.74x | 0.78x | 1.49x | 1.40x | 0.81x | 1.15x | 0.78x | 1.66x | 1.46x | 1.32x | 0.54x | 0.91x | 0.27x | 1.48x | 0.67x | 0.98x |
| Interest Paid | -54M | 65M | 68M | 51M | 68M | 52M | 68M | 35M | 68M | 34M | 68M | 35M | 68M | 34M | 68M | 35M | 68M | 34M | 68M | 34M |
| Taxes Paid | -478M | 0 | -1.27B | 436M | 763M | 70M | 138M | 213M | 467M | 139M | 588M | 197M | 152M | 69M | 246M | 592M | 951M | 80M | 210M | 232M |