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Earnings transcript
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AMD
Advanced Micro Devices, Inc.
$515.21
6.63
(1.3%)
| Exchange: | NASDAQ |
| Market Cap: | 841.07B |
| Shares Outstanding: | 1.624B |
Delayed data
About The Company
| Sector: | TechnologyView sector performance | |||||
| Industry: | SemiconductorsView industry performance | |||||
| CEO: | Lisa T. Su | |||||
| Full Time Employees: | 31000 | |||||
| Address: |
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| Website: | https://www.amd.com |
Advanced Micro Devices, Inc. (AMD), established in 1969 and headquartered in Santa Clara, California, operates as a global leader in the semiconductor industry. The company organizes its extensive operations into two primary segments: Computing and Graphics, and Enterprise, Embedded and Semi-Custom. In its Computing and Graphics division, AMD develops a range of products including x86 microprocessors (often as accelerated processing units), chipsets, and various graphics processing units (GPUs), encompassing discrete, integrated, data center, and professional variants, alongside providing development services. The Enterprise, Embedded and Semi-Custom segment focuses on server and embedded processors, bespoke System-on-Chip (SoC) products, and foundational technology for popular game consoles, also offering associated development support. AMD’s diverse product lineup features processors for desktop and notebook personal computers under well-known brands such as AMD Ryzen, Ryzen PRO, Ryzen Threadripper, Threadripper PRO, AMD Athlon, Athlon PRO, AMD FX, AMD A-Series, and PRO A-Series. Discrete GPUs for these PCs are offered through the AMD Radeon graphics and AMD Embedded Radeon graphics brands, while professional graphics solutions include AMD Radeon Pro and AMD FirePro. Furthermore, the company provides high-performance accelerators for servers, including Radeon Instinct, Radeon PRO V-series, and AMD Instinct, along with AMD EPYC microprocessors designed for server environments. Its embedded processor solutions span multiple brands, such as AMD Athlon, AMD Geode, AMD Ryzen, AMD EPYC, AMD R-Series, and G-Series. AMD also produces chipsets under its own trademark and crafts customer-specific solutions leveraging its CPU, GPU, and multimedia expertise, including specialized semi-custom SoC products. AMD reaches its wide array of clients, which comprise original equipment manufacturers (OEMs), public cloud service providers, original design manufacturers (ODMs), system integrators, independent distributors, online retailers, and add-in-board manufacturers. The company’s sales and distribution network includes its direct sales force, independent distributors, and dedicated sales representatives.
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Revenue Segmentation
Revenue by type
Revenue by region
AMD full analysis
Welcome back to MarketSnap. AMD just reported the best quarter in its history — revenue up 45%, data center nearly doubled, earnings per share up 74% — and the stock jumped on the news. So why is it still down about 23% over the past month, and roughly 28% from its October 6 record close? Here's the part that really bothers me: free cash flow collapsed to about 4% of revenue. Record earnings, almost no cash. So is this a…
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Earnings Call
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 22,680,000 | 25,785,000 | 34,639,000 |
| Gross Profit | 10,460,000 | 12,725,000 | 17,152,000 |
| EBITDA | 4,149,000 | 5,258,000 | 7,275,000 |
| Operating Income | 401,000 | 1,900,000 | 3,694,000 |
| Net Income | 854,000 | 1,641,000 | 4,335,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 67,885,000 | 69,226,000 | 76,926,000 |
| Total Liabilities | 11,993,000 | 11,658,000 | 13,927,000 |
| Total Stockholders Equity | 55,892,000 | 57,568,000 | 62,999,000 |
| Total Debt | 3,109,000 | 2,321,000 | 4,472,000 |
| Cash and Cash Equivalents | 3,728,000 | 3,680,000 | 5,539,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 1,667,000 | 3,041,000 | 6,493,000 |
| Capital Expenditure | -546,000 | -636,000 | -974,000 |
| Free Cash Flow | 1,121,000 | 2,405,000 | 5,519,000 |
| Net Income | 854,000 | 1,641,000 | 4,335,000 |
| Net Change in Cash | -902,000 | -122,000 | 1,745,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 205,816,654.965 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 294,187,837.519 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 239,417,500 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 68,252,608.780 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 106,218,434.431 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 82,688,126.821 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 60,442,347.236 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 95,917,469.418 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 73,930,840.045 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 21,337,320.628 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 30,498,893.373 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 24,820,770.517 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 45.190 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 58.630 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 36.950 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 30 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 10 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Data center is now the growth engine and margin driver. Q3 2026 data center revenue reached $8.5B, up 97% Y/Y, contributing 64% of total revenue; total Q3 revenue hit a record $13.4B (+45% Y/Y) with EPS of $2.09 (+74% Y/Y). FY2025 data center revenue of $16.6B already represented roughly 48% of the $34.6B total, confirming a structural mix shift toward higher-value AI and server products.
- Multi-year revenue and earnings trajectory is steep and accelerating. FY2025 revenue grew 34% to $34.6B (from $25.8B in FY2024), with net income up 164% to $4.3B and gross margin at 53.2% TTM. Management guided 2027 revenue growth above 80% — a target that, per analyst commentary, roughly doubles the company's prior long-range model — with data center expected to exceed 80% of total revenue.
- Balance sheet leverage is minimal. Debt-to-equity of 0.064, current ratio of 2.61, and quick ratio of 1.91 provide substantial capacity to fund the Helios ramp, inventory build, and customer financing without balance-sheet stress. FY2025 operating cash flow of $6.5B and FCF of $5.5B reflect the underlying earnings power.
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Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MarketSnap estimates AMD intrinsic value between $598.28 – $718.49 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about AMD valuation
Is Advanced Micro Devices, Inc. (AMD) overvalued or undervalued right now?
MarketSnap estimates intrinsic value for Advanced Micro Devices, Inc. (AMD) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is AMD a buy, hold, or sell for long-term investors?
MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether AMD trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is AMD’s P/E ratio?
You can see AMD’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for AMD?
MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is AMD a good long-term investment?
Whether AMD fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
AMD
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1.3
Trading Metrics:
| Open: | 503 | Previous Close: | 508.58 | |
| Day Low: | 495 | Day High: | 539.25 | |
| Year Low: | 188.22 | Year High: | 658.52 | |
| Price Avg 50: | 547.67 | Price Avg 200: | 417.22 | |
| Volume: | 46.821M | Average Volume: | 24.334M |
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