Applied Materials, Inc. (AMAT)
Applied Materials makes the manufacturing equipment that chipmakers use to fabricate semiconductors. As the largest supplier in its field, its orders serve as a leading indicator of industry capital spending.
Information Technology stock comparison
AMAT vs TXN: which business are you actually underwriting?
Compare Applied Materials, Inc. with Texas Instruments Incorporated using their business models, SEC classifications, fiscal calendars, current primary filings, and the research questions that matter. This is a thesis framework—not a price target or automatic winner.
- Sector
- Information
- Industry
- Same SIC
- Shared themes
- 1
- Updated
- 2026-02-06
AMAT vs TXN: quick comparison
| Company fact | AMAT | TXN |
|---|---|---|
| Company | Applied Materials, Inc. | Texas Instruments Incorporated |
| Exchange | NASDAQ | NASDAQ |
| Headquarters | Santa Clara, California | Dallas, Texas |
| Founded | 1967 | 1930 |
| SEC industry | Semiconductors & Related Devices | Semiconductors & Related Devices |
| Fiscal year-end | October 26 | December 31 |
| Latest annual filing | 10-K · 2025-12-12 | 10-K · 2026-02-06 |
AMAT vs TXN: audited financials
AMAT reported about 1.6× the revenue of TXN in the latest audited fiscal year. On profitability, TXN converted a larger share of revenue into net income (28.3% versus 24.7%). Scale and margin are starting facts for the thesis, not the verdict.
| Metric | AMAT | TXN |
|---|---|---|
| Revenue | $28.4B | $17.7B |
| Net income | $7.0B | $5.0B |
| Operating cash flow | $8.0B | $7.2B |
| Diluted EPS | $8.66 | $5.45 |
| Net margin | 24.7% | 28.3% |
AMAT: FY ending 2025-10-26 · TXN: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
How the businesses differ
Why this pair belongs in the comparison set
AMAT and TXN share the SEC industry classification “Semiconductors & Related Devices,” giving the comparison a primary-source operating relationship. A shared classification or theme makes the pair useful for a defined research question; it does not mean the companies have identical products, economics, or risks.
Texas Instruments Incorporated (TXN)
Texas Instruments is a leading maker of analog and embedded processing chips used across industrial, automotive, and consumer electronics. It is expanding US manufacturing capacity to secure long-term supply.
The useful starting point is not which ticker has performed better. It is whether the two companies convert the same economic forces into revenue and cash flow in the same way. AMAT is classified by the SEC as Semiconductors & Related Devices, while TXN is classified as Semiconductors & Related Devices. The matching industry code strengthens the peer comparison, although product mix can still differ materially.
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The thesis, the numbers behind it, and what would break it. Full access is $15 a month.
Read the full researchWhich thesis does each company fit?
Use the distinction below to decide which filing deserves deeper work. It is a research routing rule, not a recommendation or prediction.
Study AMAT when…
- The AI capital-expenditure cycle
- Interest rates and the cost of long-duration growth
- Enterprise IT budgets and cloud migration
- Export controls and the US–China chip race
Study TXN when…
- The AI capital-expenditure cycle
- Interest rates and the cost of long-duration growth
- Enterprise IT budgets and cloud migration
- Export controls and the US–China chip race
Shared research themes
Tariffs & trade
SEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable.AMAT's fiscal year ends October 26, while TXN's ends December 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 28matched transaction rows for AMATand 32 for TXN. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
AMAT primary filings
TXN primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
AMAT vs TXN FAQs
Are AMAT and TXN direct competitors?
Applied Materials, Inc. and Texas Instruments Incorporated share the SEC industry classification “Semiconductors & Related Devices.” That makes the operating comparison relevant, but it does not prove that every product, customer, or revenue stream competes directly.
Which is better, AMAT or TXN?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this AMAT vs TXN comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Applied Materials, Inc. and Texas Instruments Incorporated tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-09-25. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-09-25. Independent educational research; not investment advice.
A comparison is the setup. The thesis is the call.
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