Applied Materials Posts Record Q4 Revenue of $10.41B, Up 53%, and Guides Q1 FY27 to $11.1B
AMAT sits 91% above its 52-week low of $203.4.
Summary
Applied Materials reported record Q4 revenue of $10.41 billion (up 53% year over year) and record non-GAAP EPS of $4.16, then guided Q1 FY2027 revenue to $11.1 billion. Record $2.6 billion quarterly free cash flow funded $2.00 billion of buybacks.
Key Events · Earnings and Guidance · AMAT
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Record Q4 Revenue and EPS
Revenue of $10.41 billion rose 53% year over year; non-GAAP EPS of $4.16 rose 92% and GAAP EPS was $3.40.
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Q1 FY2027 Guidance Above Current Run Rate
Guides Q1 FY2027 revenue to $11,100 million +/- $500 million and non-GAAP diluted EPS to $4.35 +/- $0.20.
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Record Cash Return to Shareholders
Record quarterly free cash flow of $2.6 billion funded $2.00 billion of share repurchases and $421 million of dividends.
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$253M Export Controls Settlement
A $253 million charge settled a previously disclosed U.S. Commerce Department Bureau of Industry and Security export controls compliance matter, cutting annual GAAP EPS by $0.32.
Analysis · AMAT · Manufacturing
Applied Materials closed fiscal 2026 with record quarterly revenue of $10.41 billion, up 53% year over year, and record non-GAAP EPS of $4.16, up 92%. The quarter's 50.6% non-GAAP gross margin and 35.3% non-GAAP operating margin show the AI-driven demand surge is flowing through at high incremental profitability, not just volume. Management's Q1 FY2027 guide of $11.1 billion in revenue (plus or minus $500 million) and $4.35 non-GAAP EPS implies the growth continues sequentially, and the CEO reiterated the Semiconductor Systems business is on track to grow more than 40% in calendar 2026. Cash generation matched the earnings: record quarterly free cash flow of $2.6 billion funded $2.00 billion of buybacks and $421 million of dividends, the largest quarterly repurchase in more than eight years. The one blemish is a $253 million settlement with the U.S. Commerce Department's Bureau of Industry and Security over a previously disclosed export controls matter, which cut GAAP EPS by $0.32 for the year.
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At the time of this filing, AMAT was trading at $388.34 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $302.3B. The 52-week trading range was $203.40 to $739.67. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.