Applied Materials vs KLA
Applied Materials is the larger business, with $28.37bn of revenue in fiscal 2025 against $13.58bn for KLA (2.1 times as much). KLA grew faster (11.7% against 4.4%). KLA kept more of each dollar of sales as profit: a net margin of 35.6% against 24.7%. Applied Materials carries less debt relative to equity (32.1% against 93.7%).
| Latest fiscal year | Applied MaterialsAMAT, 2025 | KLAKLAC, 2026 |
|---|---|---|
| Revenue | $28.37bn | $13.58bn |
| Revenue growth | 4.4% | 11.7% |
| Net income | $7.00bn | $4.83bn |
| Operating margin | 29.2% | — |
| Net margin | 24.7% | 35.6% |
| Return on equity | 35.5% | 87.5% |
| Free cash flow | $5.70bn | $3.77bn |
| Cash | $7.24bn | $1.65bn |
| Total debt | $6.55bn | $5.95bn |
| Debt to equity | 32.1% | 93.7% |
| Dividend per share | $1.78 | $0.80 |
| Dividend yield | 0.5% | 0.6% |
| Share buybacks | $4.89bn | $2.29bn |
| Employees | 36,500 | 17,000 |
| Market value | $304.55bn | $203.15bn |
| Price vs our value range | Above our value range | Within our value range |
| Moat score | 96 (Strong) | 99 (Strong) |
| Insider trades, 12 months | 0 buys, 45 sales | 0 buys, 22 sales |