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Side-by-side financial comparison of Apple Inc. (AAPL) and Applied Materials (AMAT). Click either name above to swap in a different company.
Apple Inc. is the larger business by last-quarter revenue ($143.8B vs $6.8B, roughly 21.1× Applied Materials). Apple Inc. runs the higher net margin — 29.3% vs 27.9%, a 1.4% gap on every dollar of revenue. On growth, Apple Inc. posted the faster year-over-year revenue change (15.7% vs -3.5%). Apple Inc. produced more free cash flow last quarter ($51.6B vs $2.0B). Over the past eight quarters, Apple Inc.'s revenue compounded faster (25.9% CAGR vs 0.7%).
Apple Inc. is an American multinational technology company headquartered in Cupertino, California, in Silicon Valley, best known for its consumer electronics, software and online services. Founded in 1976 as Apple Computer Company by Steve Jobs, Steve Wozniak and Ronald Wayne, the company was incorporated by Jobs and Wozniak as Apple Computer, Inc. the following year. It was renamed to its current name in 2007 as the company had expanded its focus from computers to consumer electronics. Apple...
Applied Materials, Inc. is an American corporation that supplies equipment, services and software for the manufacture of semiconductor chips for electronics, flat panel displays for computers, smartphones, televisions, and solar products. The company also supplies equipment to produce coatings for flexible electronics, packaging and other applications. The company is headquartered in Santa Clara, California, and is the second largest supplier of semiconductor equipment in the world based on r...
AAPL vs AMAT — Head-to-Head
Income Statement — Q1 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $143.8B | $6.8B |
| Net Profit | $42.1B | $1.9B |
| Gross Margin | 48.2% | 48.0% |
| Operating Margin | 35.4% | 25.2% |
| Net Margin | 29.3% | 27.9% |
| Revenue YoY | 15.7% | -3.5% |
| Net Profit YoY | 15.9% | 9.6% |
| EPS (diluted) | $2.84 | $2.36 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $143.8B | $6.8B | ||
| Q3 25 | $102.5B | $7.3B | ||
| Q2 25 | $94.0B | $7.1B | ||
| Q1 25 | $95.4B | $7.2B | ||
| Q4 24 | $124.3B | $7.0B | ||
| Q3 24 | $94.9B | $6.8B | ||
| Q2 24 | $85.8B | $6.6B | ||
| Q1 24 | $90.8B | $6.7B |
| Q4 25 | $42.1B | $1.9B | ||
| Q3 25 | $27.5B | $1.8B | ||
| Q2 25 | $23.4B | $2.1B | ||
| Q1 25 | $24.8B | $1.2B | ||
| Q4 24 | $36.3B | $1.7B | ||
| Q3 24 | $14.7B | $1.7B | ||
| Q2 24 | $21.4B | $1.7B | ||
| Q1 24 | $23.6B | $2.0B |
| Q4 25 | 48.2% | 48.0% | ||
| Q3 25 | 47.2% | 48.8% | ||
| Q2 25 | 46.5% | 49.1% | ||
| Q1 25 | 47.1% | 48.8% | ||
| Q4 24 | 46.9% | 47.3% | ||
| Q3 24 | 46.2% | 47.3% | ||
| Q2 24 | 46.3% | 47.4% | ||
| Q1 24 | 46.6% | 47.8% |
| Q4 25 | 35.4% | 25.2% | ||
| Q3 25 | 31.6% | 30.6% | ||
| Q2 25 | 30.0% | 30.5% | ||
| Q1 25 | 31.0% | 30.4% | ||
| Q4 24 | 34.5% | 29.0% | ||
| Q3 24 | 31.2% | 28.7% | ||
| Q2 24 | 29.6% | 28.8% | ||
| Q1 24 | 30.7% | 29.3% |
| Q4 25 | 29.3% | 27.9% | ||
| Q3 25 | 26.8% | 24.4% | ||
| Q2 25 | 24.9% | 30.1% | ||
| Q1 25 | 26.0% | 16.5% | ||
| Q4 24 | 29.2% | 24.6% | ||
| Q3 24 | 15.5% | 25.2% | ||
| Q2 24 | 25.0% | 25.9% | ||
| Q1 24 | 26.0% | 30.1% |
| Q4 25 | $2.84 | $2.36 | ||
| Q3 25 | $1.84 | $2.22 | ||
| Q2 25 | $1.57 | $2.63 | ||
| Q1 25 | $1.65 | $1.45 | ||
| Q4 24 | $2.40 | $2.09 | ||
| Q3 24 | $0.97 | $2.05 | ||
| Q2 24 | $1.40 | $2.06 | ||
| Q1 24 | $1.53 | $2.41 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $66.9B | $8.6B |
| Total DebtLower is stronger | $88.5B | — |
| Stockholders' EquityBook value | $88.2B | $20.4B |
| Total Assets | $379.3B | $36.3B |
| Debt / EquityLower = less leverage | 1.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.9B | $8.6B | ||
| Q3 25 | $54.7B | $7.0B | ||
| Q2 25 | $55.4B | $6.7B | ||
| Q1 25 | $48.5B | $8.2B | ||
| Q4 24 | $53.8B | $9.5B | ||
| Q3 24 | $65.2B | $9.1B | ||
| Q2 24 | $61.8B | $7.6B | ||
| Q1 24 | $67.2B | $7.5B |
| Q4 25 | $88.5B | — | ||
| Q3 25 | $90.7B | — | ||
| Q2 25 | $91.8B | — | ||
| Q1 25 | $92.2B | — | ||
| Q4 24 | $94.8B | — | ||
| Q3 24 | $96.7B | — | ||
| Q2 24 | $98.3B | — | ||
| Q1 24 | $102.6B | — |
| Q4 25 | $88.2B | $20.4B | ||
| Q3 25 | $73.7B | $19.5B | ||
| Q2 25 | $65.8B | $19.0B | ||
| Q1 25 | $66.8B | $18.6B | ||
| Q4 24 | $66.8B | $19.0B | ||
| Q3 24 | $57.0B | $18.8B | ||
| Q2 24 | $66.7B | $18.2B | ||
| Q1 24 | $74.2B | $17.4B |
| Q4 25 | $379.3B | $36.3B | ||
| Q3 25 | $359.2B | $34.2B | ||
| Q2 25 | $331.5B | $33.6B | ||
| Q1 25 | $331.2B | $33.3B | ||
| Q4 24 | $344.1B | $34.4B | ||
| Q3 24 | $365.0B | $33.6B | ||
| Q2 24 | $331.6B | $31.9B | ||
| Q1 24 | $337.4B | $31.5B |
| Q4 25 | 1.00× | — | ||
| Q3 25 | 1.23× | — | ||
| Q2 25 | 1.39× | — | ||
| Q1 25 | 1.38× | — | ||
| Q4 24 | 1.42× | — | ||
| Q3 24 | 1.70× | — | ||
| Q2 24 | 1.47× | — | ||
| Q1 24 | 1.38× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $53.9B | $2.8B |
| Free Cash FlowOCF − Capex | $51.6B | $2.0B |
| FCF MarginFCF / Revenue | 35.9% | 30.0% |
| Capex IntensityCapex / Revenue | 1.7% | 11.5% |
| Cash ConversionOCF / Net Profit | 1.28× | 1.49× |
| TTM Free Cash FlowTrailing 4 quarters | $123.3B | $5.7B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $53.9B | $2.8B | ||
| Q3 25 | $29.7B | $2.6B | ||
| Q2 25 | $27.9B | $1.6B | ||
| Q1 25 | $24.0B | $925.0M | ||
| Q4 24 | $29.9B | $2.6B | ||
| Q3 24 | $26.8B | $2.4B | ||
| Q2 24 | $28.9B | $1.4B | ||
| Q1 24 | $22.7B | $2.3B |
| Q4 25 | $51.6B | $2.0B | ||
| Q3 25 | $26.5B | $2.0B | ||
| Q2 25 | $24.4B | $1.1B | ||
| Q1 25 | $20.9B | $544.0M | ||
| Q4 24 | $27.0B | $2.2B | ||
| Q3 24 | $23.9B | $2.1B | ||
| Q2 24 | $26.7B | $1.1B | ||
| Q1 24 | $20.7B | $2.1B |
| Q4 25 | 35.9% | 30.0% | ||
| Q3 25 | 25.8% | 28.1% | ||
| Q2 25 | 26.0% | 14.9% | ||
| Q1 25 | 21.9% | 7.6% | ||
| Q4 24 | 21.7% | 30.8% | ||
| Q3 24 | 25.2% | 30.8% | ||
| Q2 24 | 31.1% | 17.1% | ||
| Q1 24 | 22.8% | 31.3% |
| Q4 25 | 1.7% | 11.5% | ||
| Q3 25 | 3.2% | 8.0% | ||
| Q2 25 | 3.7% | 7.2% | ||
| Q1 25 | 3.2% | 5.3% | ||
| Q4 24 | 2.4% | 5.8% | ||
| Q3 24 | 3.1% | 4.4% | ||
| Q2 24 | 2.5% | 3.9% | ||
| Q1 24 | 2.2% | 3.4% |
| Q4 25 | 1.28× | 1.49× | ||
| Q3 25 | 1.08× | 1.48× | ||
| Q2 25 | 1.19× | 0.74× | ||
| Q1 25 | 0.97× | 0.78× | ||
| Q4 24 | 0.82× | 1.49× | ||
| Q3 24 | 1.82× | 1.40× | ||
| Q2 24 | 1.35× | 0.81× | ||
| Q1 24 | 0.96× | 1.15× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AAPL
| iPhone | $85.3B | 59% |
| Services | $30.0B | 21% |
| Wearables | $11.5B | 8% |
| iPad | $8.6B | 6% |
| Mac | $8.4B | 6% |
AMAT
| Semiconductor Systems Segment | $4.8B | 70% |
| Applied Global Services Segment | $1.6B | 24% |
| Other | $415.0M | 6% |
