Applied Materials vs Texas Instruments (AMAT vs TXN)
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 $17.7B) and market value ($324.8B vs $252.5B). Applied Materials has grown revenue faster over the last 4 fiscal years (+23.0% cumulative vs -3.6%). Texas Instruments runs the higher operating margin (34.1% vs 29.2%). Applied Materials trades at the lower trailing P/E (35.3x vs 42.1x).
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 Texas Instruments
Texas Instruments designs and manufactures semiconductors, selling them to electronics designers and manufacturers worldwide. Its main products include analog semiconductors, which condition and amplify real-world signals and manage power, and embedded processing products, which serve as the digital control units in electronic equipment. The company serves various markets such as industrial automation, automotive, data centers, personal electronics, and communications equipment.
Head to head (AMAT FY2025 vs TXN FY2025)
| Metric | AMATFY2025 | TXNFY2025 |
|---|---|---|
| Revenue | $28.37B | $17.68B |
| Revenue growth (YoY) | 4.4% | 13.0% |
| Gross margin | 48.7% | 57.0% |
| Operating margin | 29.2% | 34.1% |
| Net margin | 24.7% | 28.3% |
| Net income | $7.00B | $5.00B |
| Diluted EPS | $8.66 | $5.45 |
| FCF margin | 20.1% | 14.7% |
| ROE | 34.3% | 30.7% |
| Long-term debt / equity | 0.32× | 0.83× |
| Market cap | $324.81B | $252.49B |
| P/E | 35.3× | 42.1× |
Fundamentals are from each company’s SEC filings (AMAT FY2025, TXN FY2025). 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)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| AMAT | $23.06B | $25.79B | $26.52B | $27.18B | $28.37B |
| TXN | $18.34B | $20.03B | $17.52B | $15.64B | $17.68B |
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 | TXN |
|---|---|---|
| Gross margin | 48.7%60th percentile of 79 | 57.0%78th percentile of 79 |
| Operating margin | 29.2%90th percentile of 80 | 34.1%94th percentile of 80 |
| Net margin | 24.7%86th percentile of 81 | 28.3%90th percentile of 81 |
| FCF margin | 20.1%81st percentile of 79 | 14.7%65th percentile of 79 |
| Revenue growth (YoY) | +4.4%36th percentile of 88 | +13.0%52nd percentile of 88 |
| ROE | 34.3%95th percentile of 76 | 30.7%93rd percentile of 76 |
| P/E | 35.3×45th percentile of 43 | 42.1×52nd percentile of 43 |
| Long-term debt / equity | 0.32×62nd percentile of 46 | 0.83×84th percentile of 46 |
| Short interest (days to cover) | 2.00d23rd percentile of 89 | 3.15d48th percentile of 89 |
Short interest
| FINRA settlement data | AMAT | TXN |
|---|---|---|
| Shares sold short | 13.5M | 20.4M |
| Change vs prior settlement | -4.1% | +3.5% |
| Days to cover | 2.00 | 3.15 |
| 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 | TXN |
|---|---|---|
| Buys | 0 | 0 |
| Sells | 3 ($4.5M) | 2 ($1.9M) |
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
11 tracked 13F managers hold both Applied Materials and Texas Instruments as of their latest quarterly filings: AQR Capital Management, Bridgewater Associates, Citadel Advisors, D. E. Shaw, Gotham Asset Management, Harris Associates (Oakmark), Markel Group, Maverick Capital, Millennium Management, Point72 Asset 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.