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 2026-04-22.
Applied Materials, Inc. · Technology
$394.33
-58.9% upside to fair value
Grade C
High Quality
VS
Chevron Corporation · Energy
$188.52
-23.1% upside to fair value
Grade D
QuantHub Verdict
CVX has more upside to fair value
(-23.1%).
CVX trades at a lower forward P/E
(22.9x).
These are model outputs — not personalized investment advice.
See all research →
Valuation & Fundamentals
| Metric |
AMAT |
CVX |
| Current Price |
$394.33 |
$188.52 |
| Fair Value Estimate |
$162.08 |
$145.00 |
| Upside to Fair Value |
-58.9%
|
-23.1%
|
| Market Cap |
$312.9B |
$376.9B |
| Forward P/E |
39.9x
|
22.9x
|
| EV / EBITDA |
31.6x
|
7.8x
|
| Price / Sales |
11.1x
|
1.5x
|
| Price / FCF |
50.5x
|
17.0x
|
| Revenue Growth YoY |
-2.1%
|
-4.6%
|
| Gross Margin |
48.7%
|
30.4%
|
| Operating Margin |
29.1%
|
9.0%
|
| Return on Equity |
38.9%
|
6.6%
|
| Dividend Yield |
0% |
4.52% |
| FCF Yield |
1.98%
|
5.89%
|
| Analyst Consensus |
Strong Buy
|
Buy
|
Investment Thesis
Applied Materials, Inc. is a leading global provider of semiconductor and display equipment, specializing in materials engineering solutions critical to chip manufacturing. The company benefits from a durable competitive moat supported by its market leadership, innovation engine with over 8,500 patents since 2013, and a strong management team led by CEO Gary E. Dickerson. Despite these strengths,…
Chevron Corporation is a leading integrated oil and gas major with global upstream and downstream operations, a fortress balance sheet, and a shareholder-friendly capital return program. Under CEO Mike Wirth, the company has prioritized disciplined capital allocation, returning over $27 billion to shareholders in 2024 alone through buybacks and dividends, while maintaining a 38-year streak of con…
Accumulation Zones
| Metric |
AMAT |
CVX |
| Zone Low |
$121.56 |
$108.75 |
| Zone High |
$137.77 |
$123.25 |
| In Buy Zone? |
No
|
No
|