Applied Materials vs Arm Holdings (AMAT vs ARM)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
Applied Materials is the larger company by revenue ($28.4B vs $4.9B) and market value ($324.8B vs $243.3B). Arm Holdings has grown revenue faster over the last 4 fiscal years (+82.0% cumulative vs +23.0%). Applied Materials runs the higher operating margin (29.2% vs 18.3%). Applied Materials trades at the lower trailing P/E (35.3x vs 234.8x).
About Applied Materials
Applied Materials Inc designs, develops, manufactures, and services equipment used to produce semiconductor chips. The company operates two main segments: Semiconductor Systems, which provides a comprehensive range of tools for chip fabrication, and Applied Global Services, which offers services, spare parts, and factory automation software to semiconductor fabrication plants. Its customers include manufacturers serving markets such as personal computing, mobile phones, automotive, and industrial applications.
About Arm Holdings
Arm Holdings plc designs, develops, and licenses high-performance, energy-efficient semiconductor technology, including CPU and GPU intellectual property, system IP, and compute subsystems. The company serves technology companies worldwide by providing a compute platform used in devices ranging from smartphones and PCs to data centers, automotive systems, and IoT devices. In 2026, Arm expanded its offerings to include production silicon products with the launch of the Arm AGI CPU.
Head to head (AMAT FY2025 vs ARM FY2026)
| Metric | AMATFY2025 | ARMFY2026 |
|---|---|---|
| Revenue | $28.37B | $4.92B |
| Revenue growth (YoY) | 4.4% | 22.8% |
| Gross margin | 48.7% | — |
| Operating margin | 29.2% | 18.3% |
| Net margin | 24.7% | 18.4% |
| Net income | $7.00B | $904.0M |
| Diluted EPS | $8.66 | $0.85 |
| FCF margin | 20.1% | 19.9% |
| ROE | 34.3% | 10.9% |
| Long-term debt / equity | 0.32× | — |
| Market cap | $324.81B | $243.29B |
| P/E | 35.3× | 234.8× |
Fundamentals are from each company’s SEC filings (AMAT FY2025, ARM FY2026). ROE is net income over fiscal-year-end equity; long-term debt / equity counts non-current term debt only. P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
Five-year trend (as reported)
| AMAT by fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | $23.06B | $25.79B | $26.52B | $27.18B | $28.37B |
| Net income | $5.89B | $6.53B | $6.86B | $7.18B | $7.00B |
| Operating margin | 29.9% | 30.2% | 28.9% | 28.9% | 29.2% |
| ARM by fiscal year | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Revenue | $2.70B | $2.68B | $3.23B | $4.01B | $4.92B |
| Net income | $549.0M | $524.0M | $306.0M | $792.0M | $904.0M |
| Operating margin | 23.4% | 25.0% | 3.4% | 20.7% | 18.3% |
Applied Materials and Arm Holdings use different fiscal calendars (AMAT's FY2025 ended 2025-10-26, ARM's FY2026 ended 2026-03-31), so their fiscal years are shown separately rather than forced into one timeline.
Peer standing
Where each company ranks among the 89 semiconductor companies, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | AMAT | ARM |
|---|---|---|
| Operating margin | 29.2%90th percentile of 80 | 18.3%80th percentile of 80 |
| Net margin | 24.7%86th percentile of 81 | 18.4%81st percentile of 81 |
| FCF margin | 20.1%81st percentile of 79 | 19.9%78th percentile of 79 |
| Revenue growth (YoY) | +4.4%36th percentile of 88 | +22.8%64th percentile of 88 |
| ROE | 34.3%95th percentile of 76 | 10.9%72nd percentile of 76 |
| P/E | 35.3×45th percentile of 43 | 234.8×98th percentile of 43 |
| Short interest (days to cover) | 2.00d23rd percentile of 89 | 2.30d27th percentile of 89 |
Short interest
| FINRA settlement data | AMAT | ARM |
|---|---|---|
| Shares sold short | 13.5M | 16.2M |
| Change vs prior settlement | -4.1% | +4.3% |
| Days to cover | 2.00 | 2.30 |
| As of settlement | 2026-09-30 | 2026-09-30 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 activity (codes P/S) | AMAT | ARM |
|---|---|---|
| Buys | 0 | 0 |
| Sells | 3 ($4.5M) | 2 ($5.8M) |
Non-derivative purchases (code P) and sales (code S) reported on SEC Form 4, which may be open-market or private (grants, exercises and tax withholding excluded). For context, about 15% of covered companies saw any reported insider purchase (code P) in a 90-day window.
Held by the same investors
8 tracked 13F managers hold both Applied Materials and Arm Holdings as of their latest quarterly filings: Altimeter Capital Management, Bridgewater Associates, Citadel Advisors, D. E. Shaw, Gotham Asset Management, Maverick Capital, Millennium Management, Two Sigma Investments. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.