Enterprise Value (EV)
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Current Enterprise Value (EV)
Applied Materials Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Preferred stock: $.01 par value per share; no shares issued (per books) | |
| Total equity | |
| Add: Short-term debt (per books) | |
| Add: Finance lease liabilities, current (per books) | |
| Add: Long-term debt, net of current portion (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Short-term investments | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2025-10-26).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Applied Materials Inc., EV calculation
Based on: 10-K (reporting date: 2025-10-26), 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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Applied Materials Inc. Annual Report.
3 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The financial data reveals several important trends regarding the equity and valuation measures over the reported periods.
- Common Equity and Total Equity
- Common equity, which is equivalent to total equity in this case, demonstrates significant fluctuations. It increased markedly from $80,737 million in 2020 to $129,856 million in 2021. Following this peak, there was a notable decrease in 2022 down to $88,407 million. Afterward, equity levels showed a recovery and an upward trend, climbing again to $134,591 million in 2023 and continuing a gradual increase through 2024 to $137,797 million. The most substantial rise occurs between 2024 and 2025 when equity expands sharply to $205,539 million.
- Total Equity and Debt
- The total equity and debt figures follow a similar trajectory as equity alone but reflect a slightly greater scale. The combined total rose from $86,185 million in 2020 to a high point of $135,308 million in 2021 before dropping to $93,864 million in 2022. Thereafter, it increased steadily over the next three years, reaching $140,254 million in 2023, $144,056 million in 2024, and then experiencing a pronounced jump to $212,094 million in 2025. This indicates that increases in debt also contributed to the growth in total capitalization in addition to equity increases.
- Enterprise Value (EV)
- Enterprise value exhibits a trend comparable to equity and total capitalization but at somewhat lower absolute amounts compared to total equity and debt. It increased from $80,447 million in 2020 to $129,849 million in 2021. This was followed by a drop to $91,283 million in 2022. In the subsequent years, EV rose to $133,385 million in 2023 and remained close to that level at $134,585 million in 2024. A remarkable increase is observed in 2025, with EV reaching $203,521 million. This pattern aligns with the trends in equity and total capital, suggesting valuation changes parallel capital structure alterations.
Overall, the data depicts an initial surge in equity and valuation measures through 2021, a marked pullback in 2022, and then a recovery and gradual increase through 2024, followed by a substantial expansion in 2025. Both equity and debt appear to have played a role in driving the growth of total capital and enterprise value in the most recent period. The notable jump in 2025 values could reflect increased investor confidence, capital infusions, or other significant financial events impacting the company's market standing.