APPLIED MATERIALS INC /DE vs TEXAS INSTRUMENTS INCORPORATED, two Semiconductors stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The margin comparison is closer than the businesses suggest: Texas Instruments' analog catalog earns a 37.5% operating margin, Applied Materials' equipment franchise 31.9%, and TI keeps the higher gross margin too, 58% to 50%. What separates them is what the cash is for. TI runs as a shareholder-payout machine, a 1.9% dividend on 48.8 times earnings; Applied Materials pays almost nothing out at 58.7 times, its cash conscripted into the equipment cycle. Return on equity is a near tie, 32% and 33%. Two of the steadiest operators in semiconductors, both priced at multiples that assume the industry's current appetite is the new normal.
Comparison updated 2026-07-10.
| Metric | AMAT | TXN |
|---|---|---|
| Price | $624.00 | $285.42 |
| Market cap | $498.6B | $260.9B |
| Sector | Semiconductors | Semiconductors |
| Stage | Mature | Growth |
| P/E | 58.7 | 48.8 |
| P/B | 20.85 | 15.55 |
| P/S | 17.18 | 14.15 |
| EV/EBITDA | 58.3 | 38.7 |
| Revenue growth | +3.4% | +14.9% |
| Gross margin | 49.9% | 58.0% |
| Operating margin | 31.9% | 37.5% |
| Net margin | 27.3% | 29.1% |
| Return on equity | 33.1% | 32.0% |
| Return on assets | 19.6% | 15.6% |
| Return on invested capital | 23.8% | 18.3% |
| FCF yield | 1.1% | 1.4% |
| Dividend yield | 0.3% | 1.9% |
| Debt / equity | 0.27 | 0.91 |
| Current ratio | 2.51 | 4.46 |
| Altman Z (solvency) | 9.39 | 9.22 |
| Piotroski F (quality) | 6 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.