Stock Analysis on Net
Stock Analysis on Net

Applied Materials Inc. (NASDAQ:AMAT)

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Common-Size Balance Sheet: Assets

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Applied Materials Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Oct 27, 2024 Oct 29, 2023 Oct 30, 2022 Oct 31, 2021 Oct 25, 2020 Oct 27, 2019
Cash and cash equivalents
Short-term investments
Accounts receivable, net
Inventories
Prepaid income taxes and income taxes receivable
Prepaid expenses and other
Other current assets
Current assets
Long-term investments
Property, plant and equipment, net
Finance lease right-of-use assets
Property, plant and equipment, net, including finance lease right-of-use assets
Goodwill
Purchased technology and other intangible assets, net
Non-current deferred income taxes
Operating lease right-of-use assets
Income tax receivables and other assets
Deferred income taxes and other assets
Non-current assets
Total assets

Based on: 10-K (reporting date: 2024-10-27), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-25), 10-K (reporting date: 2019-10-27).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets showed significant fluctuation. It increased from 16.45% in 2019 to a peak of 23.94% in 2020, then declined sharply to 7.46% in 2022 before rebounding to over 23% by 2024. This suggests periods of both liquidity buildup and utilization.
Short-term investments
Short-term investments as a percentage of total assets generally remained low but exhibited a gradual increase, rising from 2.57% in 2019 to 4.21% in 2024, indicating a growing allocation to liquid investment vehicles.
Accounts receivable, net
Accounts receivable showed an upward trend until 2022, peaking at 22.7% before declining in subsequent years to 15.21% by 2024. This variation may reflect fluctuations in sales volume, credit policies, or collection efficiency.
Inventories
Inventory levels as a share of total assets decreased moderately from 18.26% in 2019 to 15.75% in 2024, despite a peak in 2022 at 22.2%. This indicates temporary inventory buildup followed by an improved turnover or reduction strategy.
Prepaid income taxes and income taxes receivable
This item increased notably in 2021 to 2.3% but declined thereafter to a low of 0.35% in 2024. The pattern suggests a changing tax position, possibly influenced by temporary timing differences or tax payments.
Prepaid expenses and other
The percentage remained relatively stable, with slight fluctuations around 2.5% to 3.3%, showing consistency in prepaid and miscellaneous current assets.
Other current assets
Other current assets rose from 3.05% in 2019 to a peak of 5.37% in 2021 and then decreased steadily to 3.18% by 2024, indicating transient increases in less-defined current asset components.
Current assets
Current assets consistently represented over half of total assets, ranging from 53.65% to 62.37%. This stable predominance underlines a strong liquidity position throughout the period.
Long-term investments
Long-term investments fluctuated modestly, decreasing from 8.95% in 2019 to a low of 6.88% in 2020, before gradually increasing to 8.1% in 2024, showing a balanced approach to longer-term asset allocation.
Property, plant and equipment, net (including finance lease right-of-use assets)
This asset category displayed a gradual increase from 8.04% in 2019 to 9.7% in 2024, reflecting possible ongoing capital expenditures or asset acquisitions. The introduction of finance lease right-of-use assets in 2023 slightly elevated the proportion.
Goodwill
Goodwill steadily declined from 17.87% in 2019 to 10.85% in 2024, indicating possible asset impairment, amortization, or disposals affecting intangible goodwill assets over time.
Purchased technology and other intangible assets, net
Intangible assets decreased overall from 0.82% in 2019 to 0.72% in 2024, with a notable peak in 2022 at 1.27%, suggesting acquisitions or capitalization followed by amortization or disposals.
Non-current deferred income taxes
These declined from 9.28% in 2019 to a trough of 5.22% in 2022, followed by a recovery to 6.95% in 2024, reflecting changes in deferred tax liabilities/assets tied to timing differences in income recognition.
Operating lease right-of-use assets
Introduced in 2020 at 1.13%, this asset class remained relatively stable, fluctuating slightly but maintaining a presence around 1.1% to 1.46% of total assets.
Income tax receivables and other assets
This category fluctuated moderately, with a peak in 2022 at 2.59% but generally remained under 1.4%, suggesting variable tax-related receivables and miscellaneous asset components.
Deferred income taxes and other assets
Consolidated deferred income taxes and other assets declined overall from 10.68% in 2019 to 7.95% in 2023, followed by an uptick to 8.96% in 2024, reflecting changes in timing differences and miscellaneous non-current asset components.
Non-current assets
The share of non-current assets declined from 46.35% in 2019 to a low of 37.63% in 2021, with a slight rebound to 38.33% by 2024, indicating a gradual shift in asset composition favoring current assets over longer-term holdings during this period.
Total assets
Total assets sum to 100% by definition; analysis focuses on the internal shifts between current and non-current segments and changes within specific asset categories over time.