Advanced Micro Devices, Inc. (AMD) financials
NASDAQ · Technology · Semiconductors · 31,000 employees · CEO Lisa T. Su
- Price
- $504.80 -10.88%
- Market cap
- $824B
- Enterprise value
- $823B
- Last report
- Q2 '26 filed 2026-08-05
- Next report
- 2026-11-03 EPS est. $1.95
Revenue (TTM)$41.3B+39.5% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)15.7%+8.0 pp vs a year agoOperating income $6.49B
Net income (TTM)$6.43B+127.0% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$8.4B+107.8% vs a year agoCapex $1.68B
Diluted EPS (TTM)$3.90+122.9% vs a year agoSum of the last 4 quarters
Net cash$8.84B+346.0% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $824B EV $823B
- Revenue
- $41.3B Trailing 12 months
- Revenue growth
- +48% FY2026 consensus
- Profit margin
- 15.6% Net income / revenue, TTM
- P/E
- 128.1× Forward 66.0× (FY2026)
- P/S
- 20.0× Price / sales, TTM
- EV / EBITDA
- 76.8× TTM
- Free cash flow
- $8.4B Trailing 12 months
- Net income
- $6.43B Trailing 12 months
- Revenue estimate
- $51.4B FY2026 consensus
- Earnings
- 2026-11-03 Revenue est. $13.1B
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-08-04): revenue beat by 2.0%, EPS beat by 2.5%Revenue $11.5B vs $11.3B expected (+2.0%); EPS $1.66 vs $1.62 (+2.5%).
- Revenue growth accelerating: 50.1% year on yearQ2 '26 revenue $11.5B, against an average of 34.8% over the four quarters before.
- Operating margin 15.7% (TTM), +8.0 pp on a year agoOperating income grew 186.2% while revenue grew 39.5%.
- 14.2% of pre-tax profit is non-operatingPre-tax income $7.56B vs operating income $6.49B (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
- Capex 4.1% of revenue (a year ago 2.8%)$1.68B invested in the last 4 quarters (+101.1% on a year earlier). Free cash flow $8.4B = 130.6% of net income.
- Returned $517M to shareholders = 6.2% of free cash flowBuybacks $517M (a year earlier $2.31B), dividends $0, stock-based pay $1.9B (TTM).
- Diluted share count up 1.5% in a year1.66B diluted shares in Q2 '26, 1.63B a year earlier.
- Net cash $8.84BCash + short-term investments $13.1B, debt incl. leases $4.28B; a year ago net cash $1.98B.
Last quarter: Q2 '26
Quarter ended 2026-06-27. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q2 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $11.5B | $7.69B | +50.1% |
| Gross margin | 53.8% | 39.8% | +14.0 pp |
| Operating income | $1.99B | -$134M | +1,585.1% |
| Operating margin | 17.3% | -1.7% | +19.0 pp |
| Net income | $2.3B | $872M | +163.4% |
| Diluted EPS | $1.38 | $0.54 | +155.6% |
| Operating cash flow | $2.37B | $2.01B | +17.7% |
| Capex | $808M | $282M | +186.5% |
| Free cash flow | $1.56B | $1.73B | -9.9% |
| R&D | $2.53B | $1.89B | +33.5% |
| Stock-based compensation | $503M | $369M | +36.3% |
Reported vs consensus
2026-08-04| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $11.5B | $11.3B | +2.0% |
| EPS (as estimated) | $1.66 | $1.62 | +2.5% |
From the report of 2026-08-04 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Data Center | $6.72B | +107.3% | 58.2% | $22.2B | +55.1% | |
| Client and Gaming | $3.84B | +6.1% | 33.3% | $15.4B | – | |
| Embedded | $977M | +18.6% | 8.5% | $3.66B | +4.6% |
Segment profits
Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).
Segments in Q2 '26
| Segment | Revenue | y/y | Operating income | y/y | Margin | Margin a year ago | TTM operating income |
|---|---|---|---|---|---|---|---|
| Client | – | – | – | – | – | – | – |
| Gaming | – | – | – | – | – | – | – |
| Data Center | – | – | $2.1B | +1,456.8% | – | – | – |
| Embedded | – | – | $386M | +40.4% | – | – | $1.36B |
| Material Reconciling Items | – | – | – | – | – | – | – |
| Client And Gaming | – | – | $582M | -24.1% | – | – | $2.75B |
| All Other | – | – | – | – | – | – | – |
Operating income by segment
quarterlySegment operating margin
quarterlyFourth quarters are derived: the 10-K reports the full year, minus the three quarters of the 10-Qs.
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $10.1B
- Capex
- -$1.68B
- Buybacks
- -$517M
- Dividends
- $0
- Acquisitions
- -$173M
- Net debt issued
- -$1.49B
- Stock-based compensation
- $1.9B
- Free cash flow
- $8.4B
- Returned to shareholders / FCF
- 6.2%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 128.1× | 123.0× | 56.0× – 278.1× |
| EV / EBITDA | 76.8× | 40.7× | 17.9× – 57.1× |
| EV / Sales | 19.9× | 8.6× | 4.2× – 10.7× |
| Price / FCF | 98.1× | 87.2× | 32.5× – 212.2× |
| Price / Book | 12.2× | 7.8× | 1.8× – 23.6× |
| FCF yield | 1.0% | 1.7% | 0.5% – 3.1% |
| Return on invested capital | 7.6% | 9.5% | 0.6% – 37.0% |
| Return on equity | 10.1% | 11.2% | 1.5% – 42.2% |
Analysts
Consensus target $627.14 (+24.2%)
range $340.00 – $1,250.00 · rating Buy
Strong buy1
Buy50
Hold20
Sell0
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $51.4B | +48.3% | $7.65 | +188.8% | 66.0× | 30 |
| FY2027 | $90.7B | +76.6% | $16.28 | +112.7% | 31.0× | 32 |
| FY2028 | $126B | +39.4% | $23.81 | +46.3% | 21.2× | 20 |
| FY2029 | $164B | +29.5% | $31.37 | +31.7% | 16.1× | 9 |
| FY2030 | $232B | +41.9% | $43.74 | +39.4% | 11.5× | 9 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 319 figures Advanced Micro Devices, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| $1.1B | – | – | – | – | – | |
| Accounts Payable, Current | $5.36B | $3.08B | +74.0% | $2.93B | $2.47B | +18.8% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $7.28B | $5.12B | +42.3% | $6.32B | $6.19B | +2.0% |
| Accrued Income Taxes, Noncurrent | $873M | $738M | +18.3% | $1.4B2023-12-30 | $1.3B | +7.7% |
| Accrued Liabilities | $5.55B | $4.48B | +23.8% | – | – | – |
| Accrued Liabilities, Current | $5.55B | $4.48B | +23.8% | $5.25B | $4.26B | +23.2% |
| Accrued Marketing Costs, Current | $1.58B | $1.22B | +29.3% | – | – | – |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $2.9B | $2.43B | +19.3% | $2.62B | $2.17B | +20.4% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$74M | $10M | -840.0% | -$3M | -$69M | +95.7% |
| Additional Paid in Capital, Common Stock | $61.4B | $62.2B | -1.4% | $63.4B | $61.4B | +3.3% |
| Amortization | – | – | – | $2.25B | $2.39B | -5.8% |
| Amortization of Intangible Assets | $544M | $568M | -4.2% | $2.3B | $2.4B | -4.2% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | – | – | – | 9M | 1M | +800.0% |
| AssetAcquisitionContingentConsiderationLiability | $361M2025-09-27 | $0 | – | – | – | – |
| Assets | $84.5B | $74.8B | +12.9% | $76.9B | $69.2B | +11.1% |
| Assets, Current | $31.5B | $24.5B | +28.6% | $26.9B | $19B | +41.5% |
| Business Combination, Acquisition Related Costs | $02025-12-27 | – | – | $47M | – | – |
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | – | – | – | -$482M | – | – |
| Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $3.62B | – | – | $44M2012-03-23 | – | – |
| Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $3.98B | – | – | – | – | – |
| Capital Expenditures Incurred but Not yet Paid | $92M | $186M | -50.5% | $129M | $144M | -10.4% |
| Cash and Cash Equivalents, at Carrying Value | $5.09B | $4.44B | +14.5% | $5.54B | $3.79B | +46.3% |
| Cash and Cash Equivalents, at Carrying Value, Including Discontinued Operations | $5.09B | $4.44B | +14.5% | – | – | – |
| Cash Provided by (Used in) Investing Activities, Discontinued Operations | $1.35B2025-12-27 | $0 | – | $1.32B | $0 | – |
| Cash Provided by (Used in) Operating Activities, Discontinued Operations | $296M2025-12-27 | $0 | – | $1.22B | $0 | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $5.56B2025-12-27 | $3.81B | +45.8% | $5.56B | $3.81B | +45.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations | $5.56B2025-12-27 | $3.81B | +45.8% | – | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $5.1B | $4.45B | +14.5% | $5.56B | $3.81B | +45.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$499M | -$1.61B | +68.9% | $1.75B | -$122M | +1,530.3% |
| Class of Warrant or Right, Exercise Price of Warrants or Rights | $0.012026-03-28 | – | – | $0.01 | – | – |
| Class of Warrant or Right, Outstanding | 160M2026-03-28 | – | – | – | – | – |
| Common Stock, Capital Shares Reserved for Future Issuance | 107M | – | – | 72.1M2016-12-31 | 83M | -13.1% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 4B | 4B | 0.0% | 4B | 4B | 0.0% |
| Common Stock, Shares, Issued | 1.63B | 1.68B | -3.1% | 1.7B | 1.68B | +0.9% |
| Common Stock, Shares, Outstanding | 1.63B | 1.62B | +0.6% | 1.63B | 1.62B | +0.5% |
| Common Stock, Value, Issued | $16M | $17M | -5.9% | $17M | $17M | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $2.3B | $922M | +148.9% | $4.4B | $1.58B | +178.2% |
| Construction in Progress, Gross | $1.15B | $575M | +99.7% | $508M | $324M | +56.8% |
| Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization | $5.07B | $4.37B | +16.2% | $16.5B | $12.1B | +35.8% |
| Cost of Goods and Services Sold | $5.33B | $4.63B | +15.3% | $17.5B | $13.1B | +33.9% |
| Costs and Expenses | $9.55B | $7.82B | +22.1% | – | – | – |
| Current Federal Tax Expense (Benefit) | – | – | – | -$493M | $1.34B | -136.8% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $106M | $142M | -25.4% |
| Current Income Tax Expense (Benefit) | – | – | – | -$355M | $1.54B | -123.0% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $32M | $64M | -50.0% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | -$24M | -$32M | +25.0% | $28M | $29M | -3.4% |
| Debt Securities, Available-for-sale | $11.4B | $5.05B | +126.3% | $9.37B | $4B | +134.2% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $1M | $2M | -50.0% | $4M | $0 | – |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $30M | $2M | +1,400.0% | $1M | $3M | -66.7% |
| Debt Securities, Available-for-sale, Amortized Cost | $11.5B | $5.05B | +126.9% | $9.37B | $4B | +134.0% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $20M | – | – | – | – | – |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $4B | $494M | +710.5% | – | – | – |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $19M | – | – | – | – | – |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $3.98B | $495M | +703.6% | – | – | – |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Amortized Cost | $2.2B2025-12-27 | $406M | +440.6% | $2.2B | $406M | +440.6% |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | $2.2B2025-12-27 | $405M | +443.0% | $2.2B | $405M | +443.0% |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Amortized Cost | $6.68B | $2.51B | +166.6% | $6.53B | $2.07B | +214.9% |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | $6.68B | $2.51B | +166.4% | $6.53B | $2.07B | +214.9% |
| Debt, Long-term and Short-term, Combined Amount | $3.23B | $3.22B | +0.2% | $3.22B | $1.72B | +87.2% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-27, 10-Q 2026-03-28, 10-K 2025-12-27, 10-Q 2025-09-27, 10-Q 2025-06-28, 10-Q 2025-03-29, 10-K 2024-12-28, 10-Q 2024-09-28, 10-Q 2024-06-29
Data as of 2026-11-01