AMAT Historical PE Ratio Notes

— Applied Materials (AMAT) is a global leader in materials engineering solutions, primarily serving the semiconductor, display, and related industries. AMAT provides equipment, software, and services that enable the production of advanced chips – the components at the heart of everything from smartphones to data centers. As the backbone of the chip manufacturing process, AMAT's fortunes are tightly linked to trends in global technology demand, cycles in semiconductor capital spending, and advances in manufacturing complexity. When reviewing historical price-to-earnings (PE) ratio data, it's important to recognize that AMAT's PE ratio reflects both its inherent cyclical exposure and investor sentiment toward the future of semiconductor demand. During periods of strong chip demand and industry investment, AMAT typically enjoys higher earnings and its PE may compress as earnings rise, whereas in downturns, the PE ratio can expand if prices remain high despite weakened earnings. Additionally, developments such as new technology introductions or shifts in market share can impact AMAT's growth outlook, further moving its stock price and resulting PE. All of this means AMAT's historical PE trends are closely tied to global technology cycles & investor expectations about the company's long-term role in enabling cutting-edge electronics.

On this page we presented the AMAT Historical PE Ratio information for Applied Mat' stock. The average AMAT historical PE based on using the annualized quarterly earnings result at each measurement period (for the "E" in the PE calculation; and the closing price on earnings date as the "P") is 19.2. Meanwhile, using the trailing twelve month (TTM) quarterly earnings result as our method of calculation the "E" value at each measurement period, the average AMAT historical PE based on this TTM earnings result method is 20.1.

Let's now compare this AMAT historical PE result, against the recent PE: when this page was posted on 9/11/2026, the most recent closing price for AMAT had been 456.49, and the most recent quarterly earnings result, annualized, was 14. Meanwhile, the most recent TTM earnings summed to 10.91. From these numbers, we calculate the recent AMAT PE on 9/11/2026 based on annualized quarterly EPS was 32.6. Based on AMAT's history, that recent PE is elevated relative to the historical average, with the recent PE 69.8% higher than the historical average PE across our data set for Applied Mat. Looking at the recent AMAT PE on 9/11/2026 based on TTM EPS, we calculate the ratio at 41.8. Based on AMAT's history, that recent PE is elevated relative to the historical average, with the recent PE 108.0% higher than the historical average PE across our Applied Mat data set with TTM EPS used in the calculation at each period.

Another interesting AMAT historical PE Ratio calculation we look at is to take the median earnings per share of the last four quarters for AMAT, and then annualize the resulting value... with that annualized number then being used in the PE calculation. To walk through this math for AMAT, we start with the past four EPS numbers and we first sort them from lowest to highest: 2.17, 2.38, 2.86, and 3.50. We then toss out the highest and lowest result, and then take the average of those two middle numbers — 2.38 and 2.86 — which gives us the median of 2.62. Basically the way to think about this 2.62 number is this: for the trailing four earnings reports, 2.62 marks the "middle ground" number where AMAT has reported a value higher than 2.62 half the time, and has reported a value lower than 2.62 half the time. Annualizing that median value then gets us to 10.48/share, which we use as the denominator in our next PE calculation. With 456.49 as the numerator (as of 9/11/2026), the calculation is then 456.49 / 10.48 = 43.6 as the AMAT PE ratio as of 9/11/2026, based on that annualized median value we calculated.

For self directed investors doing their due diligence on AMAT or any other given stock, valuation analysis for AMAT can greatly benefit from studying the past earnings and resulting PE calculations. This exercise can help inform an analysis as to whether the past earnings trajectory and current versus historical PE ratios justify the current stock value.

That's why we bring you HistoricalPERatio.com to make it easy for investors to investigate Applied Mat PE history or the past PE information for any stock in our coverage universe. And in your continued research we hope you will be sure to check out the further links included for earnings surprises history (beat/miss data) as well as next earnings dates for AMAT. Thanks for visiting, and the next time you need to research AMAT Historical PE Ratio or the ratio for another stock, we hope you'll think of our site, as your go-to historical PE ratio research resource of choice.