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ADVANCED MICRO DEVICES INC

AMD· Nasdaq· Semiconductors & Related Devices

Market cap
–
P/FCF
–
EV/Sales
–
FCF margin
19.4%
ROIC, 5 yr avg
–
Revenue, 5 yr CAGR
+28.8%
We record prices for the companies we cover; AMD is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Profile · FY2025

Market cap
–
Enterprise value
–
Diluted shares
1.64B
Revenue
$34.6B
Free cash flow
$6.7B
Owner earnings
$5.1B

Valuation · FY2025

P/E
–
P/FCF
–
P/Owner earnings
–
EV/Sales
–
EV/FCF
–
P/B
–

Margins · FY2025

Gross
49.5%
Operating
10.7%
Net
12.5%
Free cash flow
19.4%
Owner earnings
14.7%
Stock pay
4.7%

Returns

ROIC, FY2025
–
ROIC, 5 yr avg
–
ROE, FY2025
6.9%
ROE, 5 yr avg
11.2%

Growth (CAGR)

Revenue, 3 yr
13.6%
Revenue, 5 yr
28.8%
Revenue, 9 yr
26.0%
Diluted EPS, 3 yr
46.7%
Diluted EPS, 5 yr
5.2%
Diluted EPS, 9 yr
–
Free cash flow, 3 yr
29.3%
Free cash flow, 5 yr
54.0%
Free cash flow, 9 yr
128.3%

Financial health · FY2025

Cash and investments
$10.6B
Total debt
$4.1B
Net cash
$6.5B
Debt/Equity
0.1x
Debt/FCF
0.6x

Shareholder returns · FY2025

Dividend yield
–
Payout ratio
–
Buyback yield
–
Shareholder yield
–
Share count, 5 yr
6.3%

Financials: ten years from the 10-Ks

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

Revenue

$34.6B

+26.0% a year over 9 years

FY2016: Revenue $4.3BFY2017: Revenue $5.3BFY2018: Revenue $6.5BFY2019: Revenue $6.7BFY2020: Revenue $9.8BFY2021: Revenue $16.4BFY2022: Revenue $23.6BFY2023: Revenue $22.7BFY2024: Revenue $25.8BFY2025: Revenue $34.6B
FY2016FY2025

Margins

Gross49.5%Operating10.7%Net12.5%

FY2025

FY2016: Gross 23.2%, Operating -8.6%, Net -11.5%FY2017: Gross 34.0%, Operating 2.4%, Net -0.6%FY2018: Gross 37.8%, Operating 7.0%, Net 5.2%FY2019: Gross 42.6%, Operating 9.4%, Net 5.1%FY2020: Gross 44.5%, Operating 14.0%, Net 25.5%FY2021: Gross 48.2%, Operating 22.2%, Net 19.2%FY2022: Gross 44.9%, Operating 5.4%, Net 5.6%FY2023: Gross 46.1%, Operating 1.8%, Net 3.8%FY2024: Gross 49.4%, Operating 7.4%, Net 6.4%FY2025: Gross 49.5%, Operating 10.7%, Net 12.5%
FY2016FY2025

Free cash flow and owner earnings

Free cash flow$6.7BOwner earnings$5.1B

Free cash flow +128.3% a year

FY2016: Free cash flow $4.0M, Owner earnings -$82.0MFY2017: Free cash flow -$101.0M, Owner earnings -$198.0MFY2018: Free cash flow -$129.0M, Owner earnings -$266.0MFY2019: Free cash flow $276.0M, Owner earnings $79.0MFY2020: Free cash flow $777.0M, Owner earnings $503.0MFY2021: Free cash flow $3.2B, Owner earnings $2.8BFY2022: Free cash flow $3.1B, Owner earnings $2.0BFY2023: Free cash flow $1.1B, Owner earnings -$263.0MFY2024: Free cash flow $2.4B, Owner earnings $998.0MFY2025: Free cash flow $6.7B, Owner earnings $5.1B
FY2016FY2025

Diluted shares

1.64B

+95.9% over 9 years, net dilution

FY2016: Diluted shares 835.0MFY2017: Diluted shares 952.0MFY2018: Diluted shares 1.06BFY2019: Diluted shares 1.12BFY2020: Diluted shares 1.21BFY2021: Diluted shares 1.23BFY2022: Diluted shares 1.57BFY2023: Diluted shares 1.63BFY2024: Diluted shares 1.64BFY2025: Diluted shares 1.64B
FY2016FY2025

Return on invested capital

–

FY2025

FY2016: ROIC –FY2017: ROIC –FY2018: ROIC –FY2019: ROIC 32.0%FY2020: ROIC –FY2021: ROIC 74.7%FY2022: ROIC –FY2023: ROIC –FY2024: ROIC 2.8%FY2025: ROIC –
FY2016FY2025

Net cash

$6.5B

$6.5B more cash than debt

FY2016: Net cash -$171.0MFY2017: Net cash -$140.0MFY2018: Net cash $42.0MFY2019: Net cash $1.0BFY2020: Net cash $2.0BFY2021: Net cash $3.3BFY2022: Net cash $3.4BFY2023: Net cash $2.6BFY2024: Net cash $3.4BFY2025: Net cash $6.5B
FY2016FY2025

Every figure, year by year

Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
The business
Revenue$4.3B$5.3B$6.5B$6.7B$9.8B$16.4B$23.6B$22.7B$25.8B$34.6B
Revenue growth8.2%21.6%23.3%4.0%45.0%68.3%43.6%-3.9%13.7%34.3%
Gross margin23.2%34.0%37.8%42.6%44.5%48.2%44.9%46.1%49.4%49.5%
Operating margin-8.6%2.4%7.0%9.4%14.0%22.2%5.4%1.8%7.4%10.7%
Net income-$498.0M-$33.0M$337.0M$341.0M$2.5B$3.2B$1.3B$854.0M$1.6B$4.3B
Net margin-11.5%-0.6%5.2%5.1%25.5%19.2%5.6%3.8%6.4%12.5%
Diluted EPS$-0.60$-0.03$0.32$0.30$2.06$2.57$0.84$0.53$1.00$2.65
Return on invested capital?–––32.0%–74.7%––2.8%–
Cash
Operating cash flow$81.0M$12.0M$34.0M$493.0M$1.1B$3.5B$3.6B$1.7B$3.0B$7.7B
Capital expenditure$77.0M$113.0M$163.0M$217.0M$294.0M$301.0M$450.0M$546.0M$636.0M$974.0M
Free cash flow$4.0M-$101.0M-$129.0M$276.0M$777.0M$3.2B$3.1B$1.1B$2.4B$6.7B
Stock-based compensation$86.0M$97.0M$137.0M$197.0M$274.0M$379.0M$1.1B$1.4B$1.4B$1.6B
Owner earnings?-$82.0M-$198.0M-$266.0M$79.0M$503.0M$2.8B$2.0B-$263.0M$998.0M$5.1B
Free cash flow per share$0.00$-0.11$-0.12$0.25$0.64$2.62$1.98$0.69$1.47$4.12
Capital allocation
Dividends paid––––––––––
Share repurchases–––$0$0$1.8B$3.7B$985.0M$862.0M$1.3B
Diluted shares835.0M952.0M1.06B1.12B1.21B1.23B1.57B1.63B1.64B1.64B
Share count change?6.6%14.0%11.8%5.3%7.8%1.8%27.8%3.4%0.7%-0.1%
Balance sheet
Cash and equivalents$1.3B$1.2B$1.1B$1.5B$1.6B$2.5B$4.8B$3.9B$3.8B$5.5B
Short-term investments–$0$78.0M$37.0M$695.0M$1.1B$1.0B$1.8B$1.3B$5.0B
Total debt$1.4B$1.3B$1.1B$486.0M$330.0M$313.0M$2.5B$3.2B$1.7B$4.1B
Net debt$171.0M$140.0M-$42.0M-$1.0B-$2.0B-$3.3B-$3.4B-$2.6B-$3.4B-$6.5B
Shareholders' equity$477.0M$596.0M$1.3B$2.8B$5.8B$7.5B$54.8B$55.9B$57.6B$63.0B

Latest filings

All on EDGAR
2026-08-0510-QQuarterly report
2026-08-048-KEarnings release
2026-05-0610-QQuarterly report
2026-05-058-KEarnings release
2026-03-27DEF 14AProxy statement
2026-02-0410-KAnnual report
2026-02-038-KEarnings release
2025-11-0510-QQuarterly report
2025-11-048-KEarnings release
2025-08-0610-QQuarterly report

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