AMAT
Applied Materials, Inc.
AMAT has slightly lower modeled downside risk, despite its lower overall score.
CRDO
Credo Technology Group Holding Ltd
CRDO has the edge over AMAT overall, supported by stronger fundamentals and stronger valuation.
AMAT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
AMAT's revenue, profitability, cash flow and balance sheet are all currently strong.
CRDO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CRDO's revenue, profitability, cash flow and balance sheet are all currently healthy.
AMAT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 16x | $205 | -46% |
| Forward | 20x | $381 | — |
| Fair | 21x | $263 | -31% |
| Expensive | 29x | $365 | -4.1% |
| Current | 30x | $381 | — |
Historical ranges are pointers, not guarantees.
AMAT's PE is 30x, but its earnings don't support one, so it isn't a reliable read right now.
CRDO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 17x | $140 | — |
| Current | 49x | $140 | — |
| Cheap | 75x | $212 | +52% |
| Fair | 124x | $353 | +152% |
| Expensive | 395x | $1,122 | +703% |
Historical ranges are pointers, not guarantees.
CRDO has the edge over AMAT in the historical PE scenario, which offers more potential upside but is not a forecast.
AMAT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect strong earnings and revenue growth for AMAT, with profitability improving.
CRDO Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect strong earnings and revenue growth for CRDO, with profitability improving.
AMAT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $18.83 | +49% |
| Q4 2026 | $12.62 | +46% |
AMAT's earnings per share have climbed steadily: $12.62 over the past year, up 46% from the year before, and higher year over year every quarter since late 2026. Its recent earnings include one-off gains.
CRDO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.35 | +194% |
| Q3 2026 | $2.84 | +312% |
| Q2 2026 | $2.51 | +766% |
| Q1 2026 | $1.82 | +18100% |
| Q4 2025 | $1.16 | +$1.31 |
| Q3 2025 | $0.69 | +$0.85 |
| Q2 2025 | $0.29 | +$0.47 |
| Q1 2025 | $0.01 | +$0.24 |
| Q4 2024 | -$0.15 | +$0.06 |
CRDO has the edge over AMAT in the latest year-over-year earnings comparison.
AMAT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2026 | $10.4B | +53% |
| Q3 2026 | $9.1B | +25% |
| Q2 2026 | $7.9B | +11% |
| Q1 2026 | $7B | -2.1% |
AMAT's revenue is growing: $10.4B last quarter, up 53% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 34% | +3.2 points |
| Q2 2026 | 32% | +1.3 points |
| Q1 2026 | 26% | -4.2 points |
| Q4 2025 | 25% | N/A |
| Q3 2025 | 31% | N/A |
| Q2 2025 | 31% | N/A |
| Q1 2025 | 30% | N/A |
AMAT has the edge over CRDO on profitability, with a higher operating margin.
CRDO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $479M | +115% |
| Q2 2026 | $437M | +157% |
| Q1 2026 | $407M | +201% |
| Q4 2025 | $268M | +272% |
| Q3 2025 | $223.1M | +274% |
| Q2 2025 | $170M | +180% |
| Q1 2025 | $135M | +154% |
| Q4 2024 | $72M | +64% |
CRDO has the edge over AMAT on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 25% | -2 points |
| Q2 2026 | 36% | +16 points |
| Q1 2026 | 37% | +17 points |
| Q4 2025 | 29% | +41 points |
| Q3 2025 | 27% | +51 points |
| Q2 2025 | 20% | +33 points |
| Q1 2025 | 19% | +31 points |
| Q4 2024 | -12% | +8.5 points |
CRDO's operating margin was 25% last quarter, down 2 points from the same quarter a year ago.
AMAT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.3B | +14% |
| Q2 2026 | $210M | -80% |
| Q1 2026 | $1B | +91% |
CRDO has the edge over AMAT in the latest year-over-year cash flow comparison.
CRDO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $82.9M | +62% |
| Q2 2026 | $177.5M | +228% |
| Q1 2026 | $139.7M | +$140.1M |
| Q4 2025 | $38.5M | +$50.1M |
| Q3 2025 | $51.3M | +$64.4M |
| Q2 2025 | $54.2M | +5531% |
| Q1 2025 | -$383K | +$5.8M |
| Q4 2024 | -$11.7M | -494% |
CRDO has the edge over AMAT in the latest year-over-year cash flow comparison.
AMAT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +1M shares |
| 1 year | -0.2% | -2M shares |
AMAT has the edge over CRDO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $440M |
| Q2 2026 | $400M |
| Q1 2026 | $337M |
| Q4 2025 | $851M |
| Q3 2025 | $1.1B |
| Q2 2025 | $1.7B |
| Q1 2025 | $1.3B |
AMAT spent $2B buying back its own shares over the past year.
CRDO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.3% | +6.1M shares |
| 1 year | +5.3% | +9.8M shares |
| 3 years | +30% | +45.1M shares |
| 5 years | +39% | +54.4M shares |
CRDO has 194M diluted shares, up 5.3% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | $22.9M |
| Q3 2020 | — |
AMAT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | -0.1x | Net Cash |
| Q4 2025 | -0.1x | Net Cash |
| Q3 2025 | 0.2x | Very low |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | 0.1x | Very low |
AMAT's net debt is less than a year of its operating earnings (EBITDA).
CRDO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.9x | Net Cash |
| Q2 2026 | -2.4x | Net Cash |
| Q1 2026 | -3.5x | Net Cash |
| Q4 2025 | -2.5x | Net Cash |
| Q3 2025 | -1.6x | Net Cash |
| Q2 2025 | -4.0x | Net Cash |
| Q1 2025 | -22.2x | Net Cash |
CRDO has the edge over AMAT on leverage, with a lower net debt burden relative to earnings.
AMAT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.8 | Neutral |
| Stochastic | 13.8 | Oversold |
AMAT's weekly RSI is 43 (neutral) and its Stochastic is 14 (oversold).
CRDO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.0 | Neutral |
| Stochastic | 9.2 | Oversold |
CRDO's weekly RSI is 42 (neutral) and its Stochastic is 9 (oversold).
AMAT PE vs Technology Sector
| Metric | AMAT | Sector median | Relative |
|---|---|---|---|
| PE | 30x | 28x | 8.4% above |
| PE % | 85 | 35 | 50 pts above |
AMAT has the edge over CRDO on valuation relative to its sector.
CRDO PE vs Technology Sector
| Metric | CRDO | Sector median | Relative |
|---|---|---|---|
| PE | 49x | 28x | 77% above |
| PE % | 1 | 48 | 47 pts below |
CRDO is trading at 49x earnings, a 77% premium to the Technology sector's median of 28x.
AMAT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $427.8 | 11% below |
| 20 week MA | $477.9 | 20% below |
| 50 week MA | $418.0 | 8.9% below |
| 100 week MA | $298.5 | 28% above |
| 200 week MA | $232.1 | 64% above |
AMAT has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 64% above its 200-week average.
CRDO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $171.8 | 19% below |
| 20 week MA | $199.0 | 30% below |
| 50 week MA | $174.7 | 20% below |
| 100 week MA | $134.3 | 4.1% above |
| 200 week MA | $78.2 | 79% above |
CRDO has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 79% above its 200-week average.
AMAT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $61.2 | $85.3 | +39% |
| 2021 | $85.3 | $155.5 | +82% |
| 2022 | $155.5 | $97.2 | -37% |
| 2023 | $97.2 | $162.1 | +67% |
| 2024 | $162.1 | $166.8 | +2.9% |
| 2025 | $166.8 | $261.9 | +57% |
| 2026 YTD | $261.9 | $381.0 | +45% |
AMAT has the edge over CRDO on returns for 2026, with the stronger performance.
CRDO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2022 | $11.2 | $13.0 | +16% |
| 2023 | $13.0 | $19.5 | +50% |
| 2024 | $19.5 | $69.3 | +256% |
| 2025 | $69.3 | $144.8 | +109% |
| 2026 YTD | $144.8 | $139.8 | -3.5% |
CRDO has finished every year since 2022 higher, and it's down 3.5% so far in 2026.