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Sunday 1 November 2026
Export AMD’s income statement to Excel — free account
Advanced Micro Devices, Inc.
Advanced Micro Devices, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $34.6 billion, up 34.3% from fiscal 2024.
- Revenue
- +50.1%
- EPS
- +161.1%
- Free cash flow
- −8.73%
- Total debt
- +0.25%
Quarter to June 2026, against a year earlier
504.80
61.62
−10.88%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 4,319 | 5,253 | 6,475 | 6,731 | 9,763 | 16,434 | 23,601 | 22,680 | 25,785 | 34,639 | 41,305 | +26.0% | — | — | — | — | |
| Gross margin, % | 23.22 | 34.02 | 37.79 | 42.61 | 44.53 | 48.25 | 44.93 | 46.12 | 49.35 | 49.52 | 53.20 | +26.3 pt | ||||||
| EBT | (449) | (8) | 330 | 372 | 1,275 | 3,669 | 1,184 | 492 | 1,989 | 4,140 | 7,544 | n/m | ||||||
| EBT margin, % | (10.40) | (0.15) | 5.10 | 5.53 | 13.06 | 22.33 | 5.02 | 2.17 | 7.71 | 11.95 | 18.26 | +22.3 pt | ||||||
| Net income | (498) | (33) | 337 | 341 | 2,490 | 3,162 | 1,320 | 854 | 1,641 | 4,335 | 6,434 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 5.17 | 5.52 | 6.59 | 6.17 | 8.25 | 13.55 | 15.12 | 14.05 | 15.92 | 21.33 | 25.31 | +17.0% | |||||
| Earnings | (0.60) | (0.03) | 0.34 | 0.31 | 2.10 | 2.61 | 0.85 | 0.53 | 1.01 | 2.67 | 3.95 | n/m | ||||||
| Cash flow | 0.10 | 0.01 | 0.03 | 0.45 | 0.90 | 2.90 | 2.28 | 1.03 | 1.88 | 4.75 | 6.18 | +54.1% | ||||||
| Capex | (0.09) | (0.12) | (0.17) | (0.20) | (0.25) | (0.25) | (0.29) | (0.34) | (0.39) | (0.62) | (1.04) | +23.7% | ||||||
| Free cash flow | 0.00 | (0.11) | (0.13) | 0.25 | 0.66 | 2.65 | 2.00 | 0.69 | 1.48 | 4.12 | 5.14 | +111.8% | ||||||
| Book value | 0.50 | 0.63 | 1.29 | 2.59 | 4.93 | 6.18 | 35.07 | 34.63 | 35.54 | 38.79 | 41.19 | +62.2% | ||||||
| Shares, m | 835 | 952 | 982 | 1,091 | 1,184 | 1,213 | 1,561 | 1,614 | 1,620 | 1,624 | 1,628 | +7.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 54.29 | 150.21 | 44.09 | 55.13 | 71.93 | 266.50 | 118.42 | 80.21 | 127.96 | 84.1 | |||||
| P/S | 2.21 | 1.99 | 2.80 | 7.43 | 11.12 | 10.62 | 4.23 | 9.86 | 7.59 | 10.04 | 19.97 | 6.8 | ||||||
| P/B | 22.94 | 17.54 | 14.32 | 17.70 | 18.60 | 23.28 | 1.83 | 4.00 | 3.40 | 5.52 | 12.27 | 12.9 | ||||||
| EV/Sales | 2.25 | 2.02 | 2.79 | 7.29 | 10.93 | 10.43 | 4.09 | 9.72 | 7.49 | 9.83 | 19.73 | 6.7 | ||||||
| EV/FCF | 2,428.76 | (104.88) | (140.20) | 177.75 | 137.28 | 53.21 | 31.02 | 196.58 | 80.26 | 50.84 | 97.18 | 291.1 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 81 | 12 | 34 | 493 | 1,071 | 3,521 | 3,565 | 1,667 | 3,041 | 7,709 | 10,080 | +65.9% | |||||
| Capex | (77) | (113) | (163) | (217) | (294) | (301) | (450) | (546) | (636) | (1,012) | (1,693) | +33.1% | ||||||
| Free cash flow | 4 | (101) | (129) | 276 | 777 | 3,220 | 3,115 | 1,121 | 2,405 | 6,697 | 8,387 | +128.1% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 1,184 | 1,121 | 1,556 | 2,238 | 3,726 | 4,343 | 8,650 | 10,079 | 11,768 | 17,492 | 19,441 | +34.9% | |||||
| Net debt | 171 | 210 | 94 | (974) | (1,919) | (3,224) | (3,295) | (3,305) | (3,411) | (7,330) | (9,885) | n/m | ||||||
| Shareholders’ equity | 416 | 596 | 1,266 | 2,827 | 5,837 | 7,497 | 54,750 | 55,892 | 57,568 | 62,999 | 67,224 | +74.7% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (15.55) | (0.96) | 8.31 | 6.44 | 33.22 | 29.58 | 3.30 | 1.26 | 2.39 | 5.93 | 8.08 | +21.5 pt | |||||
| ROIC | (39.71) | 9.85 | 20.73 | 21.28 | 21.84 | 53.36 | 1.54 | 0.48 | 2.19 | 4.15 | 7.07 | +43.9 pt | ||||||
| ROE | (24,900.00) | (6.52) | 36.20 | 16.66 | 57.48 | 47.43 | 4.24 | 1.54 | 2.89 | 7.19 | 10.14 | +24,907.2 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 8,200 | 8,900 | 10,100 | 11,400 | 12,600 | 15,500 | 25,000 | 26,000 | 28,000 | 31,000 | — | +15.9% | |||||
| Revenue/emp, $m | 0.53 | 0.59 | 0.64 | 0.59 | 0.77 | 1.06 | 0.94 | 0.87 | 0.92 | 1.12 | — | +8.7% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| Datacenter | 16,635 | 48.02% |
|---|---|---|
| Client and Gaming | 14,550 | 42.00% |
| Embedded | 3,454 | 9.97% |
| Gross margin | 49.52% | |
| Operating margin | 10.66% | |
| Pre-tax margin | 11.95% |
Advanced Micro Devices, Inc. vs peers in Semiconductors (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $2.24T | 29.3× | — | +32.70% (above 0%: growing) | +74.49% (above 0%: growing) | +24.55% (above 0%: growing) | 67.72% | 60.34% | Compare |
| AVGO Broadcom Inc. | $1.65T | 40.4× | 35.2× | +85.50% (above 0%: growing) | +212.50% (above 0%: growing) | +94.55% (above 0%: growing) | 69.13% | 53.92% | Compare |
| SKHY SK Hynix, Inc. - Sponsored ADR | $1.18T | — | — | — | — | — | 83.20% | 76.33% | Compare |
| MU Micron Technology, Inc. | $1.06T | 11.8× | 5.1× | +379.27% (above 0%: growing) | +1,066.43% (above 0%: growing) | +45,543.06% (above 0%: growing) | 86.76% | 80.68% | Compare |
| AMD Advanced Micro Devices, Inc. | $924.7B | 128× | 35.9× | +50.11% (above 0%: growing) | +161.11% (above 0%: growing) | −8.73% (below 0%: shrinking) | 53.77% | 17.25% | |
| INTC Intel Corporation | $486.7B | — (loss-making) | — (loss-making) | +25.42% (above 0%: growing) | n/m | +396.67% (above 0%: growing) | 40.36% | 11.14% | Compare |
| TXN Texas Instruments Incorporated | $286.0B | 45.3× | 33.2× | +22.82% (above 0%: growing) | +51.75% (above 0%: growing) | +300.18% (above 0%: growing) | 61.36% | 42.28% | Compare |
| ARM ARM Holdings PLC Sponsored ADR | $244.3B | 213× | 164× | +22.41% (above 0%: growing) | +108.33% (above 0%: growing) | +305.85% (above 0%: growing) | 97.21% | 7.06% | Compare |
| ADI Analog Devices, Inc. | $210.0B | 49.3× | — (loss-making) | +39.63% (above 0%: growing) | +162.86% (above 0%: growing) | +34.29% (above 0%: growing) | 67.32% | 40.10% | Compare |
| Median of peers | $771.9B | 42.8× | 34.2× | +32.70% | +135.60% | +300.18% | 68.43% | 48.10% |
From the latest earnings call
- Lisa Su said AMD expects server revenue to grow more than 80% year over year in the second half of 2026, supported by demand and improved supply.
- Lisa Su said initial Helios shipments are expected later in the third quarter, with the ramp continuing through the fourth quarter and into 2027.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
71.97%
Held by the ten largest
38.76%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 161.58m | 9.90% | +1.31m |
| BlackRock | 150.30m | 9.21% | +4.73m |
| State Street | 74.36m | 4.56% | −409.53k |
| Invesco | 53.17m | 3.26% | +2.73m |
| JPMorgan Chase | 40.31m | 2.47% | +16.06m |
| T. Rowe Price | 39.77m | 2.44% | +3.44m |
| Geode Capital Management | 39.57m | 2.42% | −222.48k |
| Fidelity (FMR) | 25.56m | 1.57% | +10.27m |
| Morgan Stanley | 24.29m | 1.49% | +504.76k |
| UBS | 23.70m | 1.45% | −3.31m |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 27 March 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 55.16m | 146.73m | 234.00 |
| 2024 | 31.00m | (18.65m) | 271.00 |
| 2023 | 30.35m | 189.83m | 319.00 |
| 2022 | 30.22m | (160.14m) | 140.00 |
| 2021 | 29.50m | 188.41m | 317.00 |
Ownership
Directors and executive officers, together
less than 1%
The Vanguard Group
8.80%
BlackRock, Inc.
7.70%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Advanced Micro Devices, Inc. (AMD) Latest News
31 Oct
30 Oct
29 Oct
28 Oct
AMD metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
Advanced Micro Devices, Inc. (AMD) is headquartered in Santa Clara and is led by Chair, President and Chief Executive Officer Lisa Su. It develops computing chips and supporting software for data centers, PCs, gaming devices and embedded equipment.
For data centers, AMD sells server CPUs, AI accelerators and GPUs, networking products, DPUs, AI network interface cards, FPGAs and adaptive SoCs. These components are used in cloud infrastructure, enterprise systems, supercomputers and AI training and inference workloads. Its Helios platform combines server CPUs, MI450-series GPUs, Pensando networking and Rackham software into a rack-scale AI system.