Aslan Research · Chip equipment
APPLIED MATERIALS INC /DE (AMAT)
Data as of 2026-09-03 · 29 quarters · filed in USD
Revenue reached $30.8 billion over the trailing year, versus $22.5 billion of expenses. Revenue also grew 12% per year, faster than expenses at 7%.
Earned, collected early, and merely signed
Reports $6.5B of debt; has promised $7.3B
Committed money totals $7.3 billion, only 1.1x reported debt of $6.5 billion. Leases account for $802 million of that commitment beyond debt.
What the promised total is made of, latest quarter
Spending, by reported line
When the promises come due
The next five years carry $17.9 billion due, while only $1.4 billion of revenue is promised for that period. That makes the due amount 12.6x the promised revenue.
The rates that matter
Expenses as filed vs after cited reconciliation
9 patterns worth a second look
The filings describe financing activity involving customer-originated receivables alongside customer revenue concentrations. They also show substantial purchase-order and lease commitments, plus a commercial-paper limit that rises from $1.5 billion to $4.0 billion between filings. A $253 million BIS settlement was paid during the following fiscal year, and the Kokusai Electric acquisition commitment and termination-fee disclosure later cease.
circular financing · 1
The company reports financing activity involving customer-originated receivables while also reporting customer revenue concentrations.
off balance sheet · 1
The filings present substantial purchase-order and lease commitments in the contractual-obligations and off-balance-sheet-arrangements disclosures.
one time dressing · 1
The filings separately identify material one-time charges that affect reported-period performance.
redefinition · 2
The filing changes the stated revolving-credit maturity from February 2026 to February 2030 while increasing the facility structure.
The commercial-paper program limit increases from $1.5 billion to $4.0 billion between filings.
regulator challenge · 1
A reply to SEC staff was filed on 2020-02-07, answering a staff comment letter dated 2020-01-24; it quotes 2 staff comments.
related party exposure · 1
Revenue is concentrated among a small number of major customers, with individual customers reaching 20% or more in several periods.
subsequent event · 1
The FY2025 filing reports a $253 million BIS settlement paid during the following fiscal year.
vanishing item · 1
The Kokusai Electric acquisition commitment and related termination-fee disclosure cease after the transaction agreement terminates.