Applied Materials, Inc. (AMAT): ev to ebit, 10 filed years

EV/EBIT at Applied Materials, Inc. was 22.28x in FY2025, the newest filed year. Across the 7 computed years from FY2019 it ranged from 10.60x (FY2022) to 22.28x (FY2025), with a median of 16.55x.

Tonight's figure on the company page: 41.89x, at the close of 2026-10-15, recomputed 2026-10-15. The table is each filed year on its own terms, with the formula below; the current figure may use trailing twelve months or, where the explainer says so, a different denominator.

Year by year

Applied Materials, Inc.: EV/EBIT for each filed fiscal year, with the filing behind each.
Fiscal year	EV/EBIT	Close used	Read from
FY2016 The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.	n/a	28.66 on 2016-10-28	10-K, filed 2016-12-15
FY2017 The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.	n/a	56.69 on 2017-10-27	10-K, filed 2017-12-15
FY2018 The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.	n/a	32.36 on 2018-10-26	10-K, filed 2018-12-13
FY2019	16.55x	55.72 on 2019-10-25	10-K, filed 2019-12-13
FY2020	12.97x	60.95 on 2020-10-23	10-K, filed 2020-12-11
FY2021	18.34x	136.65 on 2021-10-29	10-K, filed 2021-12-17
FY2022	10.60x	89.72 on 2022-10-28	10-K, filed 2022-12-16
FY2023	14.48x	131.30 on 2023-10-27	10-K, filed 2023-12-15
FY2024	19.68x	186.52 on 2024-10-25	10-K, filed 2024-12-13
FY2025	22.28x	228.75 on 2025-10-24	10-K, filed 2025-12-12

How each year is computed

(Close at fiscal year end x diluted shares + total debt - cash) / operating income

P/E, free cash flow yield and EV to EBIT set each filed year against the close on or within a week before that fiscal year's end. The price archive here is about five years deep, so older years of those three read n/a. Per-share figures and share counts are put on today's share count after a confirmed split, the basis the price archive is kept on.

Read further

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.