AMAT vs CVX: Which Is the Better Buy?
Side-by-side comparison of Applied Materials, Inc. and Chevron Corporation — fair value, conviction, valuation metrics, and QuantHub research signals.
Updated 2026-05-20.
Applied Materials, Inc. · Technology
$406.91
-12.0% upside to fair value
Grade B-
High Quality
VS
Chevron Corporation · Energy
$193.33
-18.2% upside to fair value
Grade D
QuantHub Verdict
AMAT has more upside to fair value
(-12.0%).
AMAT trades at a lower forward P/E
(30.3x).
These are model outputs — not personalized investment advice.
See all research →
Valuation & Fundamentals
| Metric |
AMAT |
CVX |
| Current Price |
$406.91 |
$193.33 |
| Fair Value Estimate |
$358.00 |
$158.09 |
| Upside to Fair Value |
-12.0%
|
-18.2%
|
| Market Cap |
$322.9B |
$385.8B |
| Forward P/E |
30.3x
|
31.3x
|
| EV / EBITDA |
30.2x
|
10.3x
|
| Price / Sales |
10.2x
|
2.1x
|
| Price / FCF |
51.6x
|
23.8x
|
| Revenue Growth YoY |
+11.0%
|
-5.3%
|
| Gross Margin |
49.9%
|
30.4%
|
| Operating Margin |
31.9%
|
9.0%
|
| Return on Equity |
47.0%
|
7.3%
|
| Dividend Yield |
0.45% |
0% |
| FCF Yield |
1.94%
|
4.19%
|
| Analyst Consensus |
Strong Buy
|
Strong Buy
|
Investment Thesis
Applied Materials is the world's leading semiconductor and display equipment company, and the May 14 Q2 fiscal 2026 print materially strengthened the operating story. Revenue grew 11 percent year over year to a record $7.91 billion, non-GAAP earnings per share of $2.86 beat consensus of $2.68, and management guided Q3 to a record $8.95 billion in revenue with non-GAAP earnings per share of $3.36 …
Chevron Corporation operates as a leading integrated oil and gas company with significant upstream and downstream operations. The company benefits from experienced leadership under CEO Mike Wirth, who has over 44 years with Chevron, and maintains a strong market position as the second largest Big Oil major by market cap and net profits. However, Chevron currently trades at a very expensive valuat…
Accumulation Zones
| Metric |
AMAT |
CVX |
| Zone Low |
$268.50 |
$118.57 |
| Zone High |
$304.30 |
$134.38 |
| In Buy Zone? |
No
|
No
|