Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
Applied Materials's operating assets for the quarter that ended in Apr. 2026 was $32,045 Mil. Applied Materials's operating liabilities for the quarter that ended in Apr. 2026 was $9,109 Mil. Applied Materials's Total Assets for the quarter that ended in Jan. 2026 was $37,644 Mil. Therefore, Applied Materials's scaled net operating assets (SNOA) for the quarter that ended in Apr. 2026 was 0.61.
Applied Materials Scaled Net Operating Assets Related Terms
Applied Materials Scaled Net Operating Assets Historical Data
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The historical data trend for Applied Materials's Scaled Net Operating Assets can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Applied Materials Scaled Net Operating Assets Chart
AMAT vs LRCX, KLAC, TER: Scaled Net Operating Assets Comparison
For the Semiconductor Equipment & Materials subindustry, Applied Materials's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Applied Materials Scaled Net Operating Assets vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Applied Materials's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where Applied Materials's Scaled Net Operating Assets falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Scaled Net Operating Assets of 0.61 mean?
Applied Materials (AMAT) has a Scaled Net Operating Assets of 0.61 as of Apr. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Applied Materials and its competitors.
Is Applied Materials' Scaled Net Operating Assets too high?
Applied Materials' current Scaled Net Operating Assets is 0.61. Overall, Applied Materials has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Applied Materials' Scaled Net Operating Assets compare to LRCX and KLAC?
Applied Materials' Scaled Net Operating Assets of 0.61 can be compared against companies in the Semiconductors industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Semiconductors company?
A good Scaled Net Operating Assets depends on the Semiconductors industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Applied Materials and its competitors. Applied Materials's current Scaled Net Operating Assets is 0.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Applied Materials stock overvalued right now?
Based on GuruFocus' analysis, Applied Materials (AMAT) is currently considered Significantly Overvalued. The stock's GF Value™ is $217.42, compared to a current price of $588.97 — trading 170.9% above its estimated fair value. The current Scaled Net Operating Assets is 0.61. Applied Materials' overall GF Score™ is 85/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Applied Materials (AMAT), the current Scaled Net Operating Assets is 0.61 as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Applied Materials (AMAT) Overvalued in 2026?
Based on GuruFocus' analysis, Applied Materials stock appears to be overvalued.
The current stock price of $588.97 is trading 170.9% above its estimated GF Value™ of $217.42.
GuruFocus considers Applied Materials to be Significantly Overvalued.
Key valuation signals for AMAT:
Scaled Net Operating Assets: 0.61
GF Value™: $217.42 vs. price of $588.97 (170.9% above fair value)
No single metric tells the full story. See the AMAT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Applied Materials is the largest semiconductor wafer fabrication equipment manufacturer in the world. It has a broad portfolio spanning nearly every corner of the WFE ecosystem. Applied Materials holds leading market share in deposition, which entails the layering of new materials on semiconductor wafers. It is more exposed to general-purpose logic chips made at integrated device manufacturers and foundries. It counts the largest chipmakers in the world as customers, including TSMC, Intel, and Samsung.
85GF Score
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