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 2026-07-09.
Applied Materials, Inc. · Technology
$603.04
-45.0% upside to fair value
Grade C
High Quality
VS
Chevron Corporation · Energy
$175.91
-3.4% upside to fair value
Grade D
QuantHub Verdict
CVX has more upside to fair value
(-3.4%).
CVX trades at a lower forward P/E
(30.4x).
These are model outputs — not personalized investment advice.
See all research →
Valuation & Fundamentals
| Metric |
AMAT |
CVX |
| Current Price |
$603.04 |
$175.91 |
| Fair Value Estimate |
$331.67 |
$169.96 |
| Upside to Fair Value |
-45.0%
|
-3.4%
|
| Market Cap |
$478.8B |
$350.3B |
| Forward P/E |
56.4x
|
30.4x
|
| EV / EBITDA |
43.0x
|
9.4x
|
| Price / Sales |
16.5x
|
1.9x
|
| Price / FCF |
80.3x
|
26.2x
|
| Revenue Growth YoY |
+11.4%
|
+3.2%
|
| Gross Margin |
49.0%
|
25.4%
|
| Operating Margin |
29.5%
|
8.4%
|
| Return on Equity |
39.8%
|
6.2%
|
| Dividend Yield |
0% |
0% |
| FCF Yield |
1.25%
|
3.82%
|
| Analyst Consensus |
Strong Buy
|
Buy
|
Investment Thesis
Applied Materials, Inc. is a leading semiconductor equipment company with a strong competitive moat in multiple wafer fab equipment segments, driven by its scale, infrastructure, and technology leadership in AI-critical process steps. The company benefits from a seasoned management team led by CEO Gary Dickerson, who has over 12 years at the helm and a track record of strong revenue and profitabi…
Chevron Corporation operates as a leading integrated oil and gas company within the energy sector, demonstrating medium business quality with a stable competitive position but facing earnings pressure as evidenced by a 36.9% decline in earnings in the most recent quarter. The stock trades at a premium valuation with a P/E trailing and forward of 30.38, EV/EBITDA of 9.41, and a P/FCF of 26.2, refl…
Accumulation Zones
| Metric |
AMAT |
CVX |
| Zone Low |
$248.75 |
$127.47 |
| Zone High |
$281.92 |
$144.47 |
| In Buy Zone? |
No
|
No
|