Advanced Micro Devices

Information Technology Semiconductors Santa Clara, California Last filing Feb 4, 2026 · FY2025

                    Revenue
                    FY2025
                
$34.6B
                    3y CAGR +13.6%
                    
                    P75
                    
                    +34.3%
                    
                    Net income
                    FY2025
                
$4.3B
                    Net margin +12.5%
                    
                    P36
                    
                    +164.2%
                    
                    Total assets
                    FY2025
                
$76.9B
                    ROA +5.6%
                    
                    P27
                    
                    +11.1%
                    
                    Operating cash flow
                    FY2025
                
$7.7B
                    FCF margin +19.4%
                    
                    P47
                    
                    +153.5%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

31 accounts · 5 years

Total assets $76.9B

Total liabilities $9.5B

Shareholders equity $63.0B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	7.2%	5.5%	5.8%	7.2%	20.4%
Short Term Investments	6.5%	1.9%	2.7%	1.5%	8.6%
Accounts Receivable	8.2%	8.9%	6.4%	6.1%	21.8%
Inventory	10.3%	8.3%	6.4%	5.6%	15.7%
Prepaid Expenses	2.8%	2.7%	3.4%	1.9%	2.5%
Total Current Assets	35.0%	27.5%	24.7%	22.2%	69.1%
Property,Plant and Equipment	3.0%	2.6%	2.3%	2.2%	5.7%
Goodwill	32.7%	35.9%	35.7%	35.8%	2.3%
Intangible Assets	21.7%	27.3%	31.5%	35.7%	0.0%
Long Term Investments	6.5%	—	—	0.1%	—
Deferred Tax Assets	0.5%	—	—	0.1%	—
Other Noncurrent Assets	7.1%	4.5%	4.1%	3.2%	11.9%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	3.8%	2.9%	3.0%	3.7%	10.6%
Accrued Liabilities	6.8%	6.2%	4.5%	4.6%	19.5%
Current Portion of Long Term Debt	1.1%	—	—	0.0%	—
Operating Lease Liabilities	0.8%	0.2%	0.2%	0.6%	0.6%
Other Current Liabilities	0.5%	—	—	0.5%	—
Total Current Liabilities	12.3%	10.5%	9.9%	9.4%	34.1%
Long Term Debt	3.1%	2.5%	2.5%	3.7%	0.0%
Operating Lease Liabilities Noncurrent	0.8%	0.7%	0.8%	0.6%	2.8%
Deferred Tax Liabilities	0.4%	6.0%	5.8%	6.4%	1.6%
Other Noncurrent Liabilities	1.5%	2.6%	2.7%	2.5%	2.6%
Total Liabilities	12.3%	—	—	9.4%	—
Equity
Common Stock	0.0%	0.0%	0.0%	0.0%	0.1%
Additional Paid In Capital	82.4%	88.6%	87.9%	85.8%	89.1%
Retained Earnings	8.7%	3.4%	1.1%	-0.2%	-11.7%
Treasury Stock	9.2%	8.8%	6.6%	4.6%	17.2%
Accumulated Other Comprehensive Income	-0.0%	-0.1%	-0.0%	-0.1%	-0.0%
Total Stockholders Equity	81.9%	83.2%	82.3%	81.0%	60.4%
Total Liabilitiesand Equity	100.0%	—	—	100.0%	—

Income Statement

Revenue, expense, and profitability

20 accounts · 5 years

Revenue $34.6B

Operating income $3.7B

Net income $4.3B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	45.0%	37.2%	33.4%	34.9%	132.3%
Expenses Cost of Revenue	22.7%	18.9%	18.0%	19.2%	68.5%
Expenses Research and Development	10.5%	9.3%	8.6%	7.4%	22.9%
Expenses Selling,General and Administrative	5.4%	4.0%	3.5%	3.5%	11.7%
Expenses Depreciation and Amortization	0.7%	0.7%	0.6%	0.6%	2.4%
Expenses Share Based Compensation	2.1%	2.0%	2.0%	1.6%	3.1%
Expenses Restructuring and Asset Impairment	0.0%	—	—	0.0%	—
Expenses Operating Expenses	17.5%	—	—	—	—
Other Income Expense Gross Profit	22.3%	18.4%	15.4%	15.7%	63.8%
Other Income Expense Operating Income	4.8%	2.7%	0.6%	1.9%	29.4%
Other Income Expense Interest Expense	0.2%	0.1%	0.2%	0.1%	0.3%
Other Income Expense Other Income/expense	0.8%	0.3%	0.3%	0.0%	0.4%
Other Income Expense Income Before Tax	5.4%	2.9%	0.7%	1.8%	29.6%
Income Tax Income Tax Expense	-0.1%	0.6%	-0.5%	-0.2%	4.1%
net Income net Income	5.6%	2.4%	1.3%	2.0%	25.5%
net Income Comprehensive Income	5.7%	2.3%	1.3%	1.9%	25.3%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	2.1%	2.3%	2.4%	2.3%	9.8%
Earnings Per Share Weighted Average Shares Diluted	2.1%	2.4%	2.4%	2.3%	9.9%

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 5 years

Operating cash flow $7.7B

Investing cash flow $-5.5B

Financing cash flow $-431.0M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	5.6%	2.4%	1.3%	2.0%	25.5%
Operating Activities Depreciation and Amortization	3.0%	3.5%	4.1%	0.6%	2.4%
Operating Activities Stock Based Compensation	2.1%	—	—	1.6%	—
Operating Activities Deferred Income Taxes	0.3%	-1.7%	-1.5%	-2.2%	-2.5%
Operating Activities Changes In Operating Assets and Liabilities	3.6%	4.1%	2.8%	6.8%	23.5%
Operating Activities net Cash From Operating Activities	10.0%	4.4%	2.5%	5.3%	28.4%
Investing Activities Capital Expenditures	1.3%	0.9%	0.8%	0.7%	2.4%
Investing Activities Purchases of Investments	0.0%	—	—	0.0%	—
Investing Activities Other Investing Activities	-0.0%	—	—	0.0%	—
Investing Activities net Cash From Investing Activities	-7.2%	-1.6%	-2.1%	3.0%	5.5%
Financing Activities Repayment of Debt	1.2%	1.1%	0.0%	0.5%	0.0%
Financing Activities Repurchase of Common Stock	1.7%	1.2%	1.5%	5.5%	14.2%
Financing Activities Proceeds From Stock Issuance	0.4%	0.4%	0.4%	0.2%	0.8%
Financing Activities Tax Withholding On Stock Based Compensation	0.8%	1.1%	0.6%	0.6%	1.9%
Financing Activities Other Financing Activities	0.0%	—	—	-0.0%	—
Financing Activities net Cash From Financing Activities	-0.6%	-3.0%	-1.7%	-4.8%	15.3%
Cash Reconciliation net Change In Cash	2.3%	-0.2%	-1.3%	3.4%	7.6%
Cash Reconciliation Cash At Beginning of Period	7.2%	5.5%	5.8%	7.2%	20.4%
Cash Reconciliation Cash At End of Period	7.2%	5.5%	5.8%	7.2%	20.4%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+49.5%	+49.4%	+46.1%	+44.9%	+48.2%
Operating margin	+10.7%	+7.4%	+1.8%	+5.4%	+22.2%
Net margin	+12.5%	+6.4%	+3.8%	+5.6%	+19.2%
FCF margin	+19.4%	+9.3%	+4.9%	+13.2%	+19.6%
Growth
Revenue CAGR (3y)	+13.6%	+16.2%	+32.4%	+51.9%	+36.4%
Returns
ROE	+6.9%	+2.9%	+1.5%	+2.4%	+42.2%
ROA	+5.6%	+2.4%	+1.3%	+2.0%	+25.5%
ROIC	+6.1%	+2.8%	+0.7%	+2.4%	+63.2%
Liquidity
Current ratio	2.85x	2.62x	2.51x	2.36x	2.02x
Quick ratio	1.25x	1.37x	1.23x	1.41x	1.24x
Leverage
D/E	0.15x	0.20x	0.21x	0.12x	0.66x
Interest coverage	28.20x	20.65x	3.78x	14.36x	107.29x
Efficiency
Asset turnover	0.45x	0.37x	0.33x	0.35x	1.32x
Cash conversion cycle	+171d	+192d	+138d	+100d	+87d

Valuation

Price against fundamentals

AMD $159 · 2025-09-17 · 363d old · FY2025

Market cap $260.4B

P/E 60.07x

P/S 7.52x

P/B 4.13x

EV $258.1B

EV/EBITDA 61.23x

FCF yield +2.6%

Dividend yield —

Notes

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