Revenue keeps growing year over year. It last broke in FY2023, at -3.9%.
Today it reads 34.34%. 10-K filed Jan 31, 2024
Today it reads 34.34%. 10-K filed Jan 31, 2024
Market data as of Nov 12, 2026. Ratios computed Nov 12, 2026.
ValueScreener company report
NASDAQ / Technology / Semiconductors
The evidence behind it
Market dataSEC filingComputed
Return on equity
From the FY2025 filing
Price to earnings
FY2025 accounts, priced at 21:00 UTC
Free cash flow yield
FY2025 accounts, priced at 21:00 UTC
Debt to equity
From the FY2025 filing
Price to earnings is 219.21x at the close of 2026-11-12 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits above the highest.
Today, against the Semiconductors industry (51 companies), 219.21x sits at the 88th percentile; the middle half of that group runs from 31.27x to 97.03x.
Return on equity was 6.9% in FY2025, in the band labelled "Likely below the cost of equity" (below 8.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on shareholders' money below the usual cost of equity.
Today, against the Semiconductors industry (92 companies), 6.9% sits at the 62nd percentile; the middle half of that group runs from -7.8% to 13.4%.
Interest coverage was 28.20x in FY2025, in the band labelled "Comfortable" (6.00x and above), on lines anchored on Damodaran's interest-coverage table, suggesting an interest bill operating profit covers many times over.
These are AMD’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.
SEC filingCompany statement
The newest accounts on file are the FY2025 annual report: 10-K, filed Feb 4, 2026, accession 0000002488-26-000018.
The returns the business earns on its capital, and the margins behind them.
SEC filingComputed
| Figure | Value, source and document |
|---|---|
Return on invested capital, after taxWhy n/aThe filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed. | n/a Computed. Sources for Return on invested capital, after taxFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Return on equity | 6.9% Computed. Sources for Return on equityFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Return on capital employed, pre-tax | 5.5% Computed. Sources for Return on capital employed, pre-taxFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Return on assets | 5.6% Computed. Sources for Return on assetsFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Gross margin | 49.5% Computed. Sources for Gross marginFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Operating margin | 10.7% Computed. Sources for Operating marginFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Net margin | 12.5% Computed. Sources for Net marginFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
What it owes against what it owns, and whether it can meet what falls due.
SEC filingComputedCompany statement
| Figure | Value, source and document |
|---|---|
| Debt to equity | 0.08 Computed. Sources for Debt to equityFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Current ratio | 2.85 Computed. Sources for Current ratioFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Quick ratio | 2.01 Computed. Sources for Quick ratioFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Interest coverage | 28.20x Computed. Sources for Interest coverageFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Altman Z-score | 42.26 Computed. Sources for Altman Z-score21:00 UTC · FY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Net debt | -5.67B Computed. Sources for Net debtFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
What Advanced Micro Devices, Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Feb 4, 2026, 0000002488-26-000018).
| Total assets | 76.93B Filed. Sources for Total assetsFY2025 10-K, filed Feb 4, 2026 |
|---|---|
| Total liabilities | 13.93B Filed. Sources for Total liabilitiesFY2025 10-K, filed Feb 4, 2026 |
| Shareholders' equity | 63.00B Filed. Sources for Shareholders' equityFY2025 10-K, filed Feb 4, 2026 |
| Cash | 10.55B Filed. Sources for CashFY2025 10-K, filed Feb 4, 2026 |
| Total debt | 4.88B Filed. Sources for Total debtFY2025 10-K, filed Feb 4, 2026 |
| Net debt | -5.67B |
| Current ratio | 2.85 |
| Debt to equity | 0.08 |
Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.
Market dataSEC filingComputed
| Figure | Value, source and document |
|---|---|
| Price to earnings | 219.21x Computed. Sources for Price to earnings21:00 UTC · FY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| P/E on trailing twelve months | 112.00x Computed. Sources for P/E on trailing twelve monthsClose of Nov 12, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings |
| Price to book | 15.20x Computed. Sources for Price to book21:00 UTC · FY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Price to sales | 27.64x Computed. Sources for Price to sales21:00 UTC · FY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Enterprise value to EBIT | 259.04x Computed. Sources for Enterprise value to EBIT21:00 UTC · FY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Enterprise value to EBITDA | 227.02x Computed. Sources for Enterprise value to EBITDAClose of Nov 12, 2026 · FY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Price to earnings over growth | 44.55 Computed. Sources for Price to earnings over growth21:00 UTC · FY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Diluted earnings per share | 2.65 USD Filed. Sources for Diluted earnings per shareFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Graham number | 48.10 USD Computed. Sources for Graham numberFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
We publish no fair value or price target of our own. Value AMD on your own assumptions in the DCF workbench, starting from the filed figures.
What the market charges for Advanced Micro Devices, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.
| Share price | 585.30 USD |
|---|---|
| Market capitalisation | 959.90B USD |
| Enterprise value to EBITDA | 227.02x |
| Graham number | 48.10 USD |
| Diluted earnings per share, FY2025 | 2.65 USD |
Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Aug 3, 2017: low 23.60x, median 114.20x, high 2254.12x, latest 112.00x. 2,079 trading days with a meaningful ratio, 252 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.
Same industry (Semiconductors) and size band (Mega, 200B and over), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.
SEC filingComputed
| Figure | Value, source and document |
|---|---|
| Free cash flow yield | 0.7% Computed. Sources for Free cash flow yield21:00 UTC · FY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Free cash flow | 6.74B USD Computed. Sources for Free cash flowFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Free cash flow margin | 19.4% Computed. Sources for Free cash flow marginFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
Dividend yieldWhy n/aWe do not hold this figure for this company, so there is nothing to show. | n/a Computed. Sources for Dividend yield21:00 UTC · FY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
Payout ratioWhy n/aWe do not hold this figure for this company, so there is nothing to show. | n/a Computed. Sources for Payout ratioFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
Every figure, the year it is for and the document it was read from.
SEC filingMarket data
Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.
| Figure | Value | Year | As of |
|---|---|---|---|
| 219.21x | FY2025 | Nov 12, 2026 | |
FormulaShare price / earnings per share. Where the filing states no earnings per share this listing can be priced on, which is every 20-F and 40-F filer because theirs is stated per ordinary share, it is market capitalisation / net income: the same multiple, undiluted. As ofThe close on Nov 12, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itIncome statementFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tab | |||
| 15.20x | FY2025 | Nov 12, 2026 | |
FormulaMarket capitalisation / shareholders equity As ofThe close on Nov 12, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tab | |||
| 259.04x | FY2025 | Nov 12, 2026 | |
Formula(Market capitalisation + total debt - cash) / operating income, or over the filing's own EBIT (income before tax + interest expense) where the filer tags no operating line, as Johnson & Johnson does not in any of its ten filed years. As ofThe close on Nov 12, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itIncome statementFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tabForm10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tab | |||
| 0.7% | FY2025 | Nov 12, 2026 | |
FormulaFree cash flow per share / share price x 100 As ofThe close on Nov 12, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itCash flow statementFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tab | |||
| n/a | FY2025 | Feb 4, 2026 | |
| n/a The filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed. | |||
FormulaVendor trailing-twelve-month return on invested capital where one is published, which uses after-tax operating profit over total assets less current liabilities. Otherwise our own recompute: NOPAT / (shareholders equity + total debt - cash) x 100, where NOPAT is the filed operating profit after tax, or the filing's own EBIT after tax where the filer tags no operating line. As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itIncome statementFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tabForm10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tab | |||
| n/a | FY2025 | Nov 12, 2026 | |
| n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one. | |||
FormulaCommon dividends paid in the latest filed year / market capitalisation x 100. n/a where the filing cannot support it: a special or first-year payment, a total that mixes preferred dividends, or a cash-flow statement over 15 months old. As ofThe close on Nov 12, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itCash flow statementFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tab | |||
| 0.08 | FY2025 | Feb 4, 2026 | |
FormulaTotal debt / shareholders equity As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tab | |||
| 2.85 | FY2025 | Feb 4, 2026 | |
FormulaCurrent assets / current liabilities As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tab | |||
| 27.64x | FY2025 | Nov 12, 2026 | |
FormulaMarket capitalisation / revenue As ofThe close on Nov 12, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itIncome statementFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tab | |||
| 44.55 | FY2025 | Nov 12, 2026 | |
FormulaPrice to earnings / the annual earnings growth rate, in percentage points As ofThe close on Nov 12, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itIncome statementFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tab | |||
| 42.26 | FY2025 | Nov 12, 2026 | |
Formula1.2 x working capital/assets + 1.4 x retained earnings/assets + 3.3 x EBIT/assets + 0.6 x market value of equity/total liabilities + 1.0 x revenue/assets As ofThe close on Nov 12, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itIncome statementFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tabForm10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tab | |||
| -2.30 | FY2025 | Feb 4, 2026 | |
FormulaAn eight-variable index of year-on-year changes in receivables, gross margin, asset quality, revenue, depreciation, overheads, leverage and accruals As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itIncome statementFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tabForm10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tabForm10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itCash flow statementFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tab | |||
| 8/9 | FY2025 | Feb 4, 2026 | |
FormulaOne point each for: positive return on assets, positive operating cash flow, rising return on assets, operating cash flow above net income, falling leverage, rising current ratio, no new shares issued, rising gross margin, rising asset turnover. As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itIncome statementFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tabForm10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tabForm10-KFiledFeb 4, 2026PeriodFY2025Accession0000002488-26-000018What we read from itCash flow statementFY2025Open on SEC.gov, accession 0000002488-26-000018, leaves this page and opens in a new tab | |||
| 585.30 USD | n/a | Nov 12, 2026 | |
FormulaThe last close we hold, in the currency the listing trades in. As ofThe close on Nov 12, 2026, over the filed figures of n/a: a price is in this figure, and it moved after the filing. | |||
| 111.2% | n/a | Nov 12, 2026 | |
Formula(price now - price a year ago) / price a year ago. It counts no dividend, so a high payer reads lower here than a holder's own return. As ofThe close on Nov 12, 2026, over the filed figures of n/a: a price is in this figure, and it moved after the filing. | |||
The figures are computed from the accounts for fiscal 2025, the newest full year on file. 10 filed fiscal years on record, FY2016 to FY2025, from SEC EDGAR. Prices as of Nov 12, 2026. Ratios recomputed Nov 12, 2026. Two facts, because a recompute is not a fresh quote.
The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.
10 filed fiscal years, FY2016 to FY2025, read from the annual reports Advanced Micro Devices, Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.
| Year | Revenue | Operating income | Net income | EPS, diluted | Free cash flow | Operating margin | Return on equity | Filing |
|---|---|---|---|---|---|---|---|---|
| FY2025 | 34.64B | 3.69B | 4.33B | 2.65 | 6.74B | 10.7% | 6.9% | 10-K, Feb 4, 20260000002488-26-000018 |
| FY2024 | 25.79B | 1.90B | 1.64B | 1.00 | 2.40B | 7.4% | 2.9% | 10-K, Feb 5, 20250000002488-25-000012 |
| FY2023 | 22.68B | 401.0M | 854.0M | 0.53 | 1.12B | 1.8% | 1.5% | 10-K, Jan 31, 20240000002488-24-000012 |
| FY2022 | 23.60B | 1.26B | 1.32B | 0.84 | 3.12B | 5.4% | 2.4% | 10-K, Feb 27, 20230000002488-23-000047 |
| FY2021 | 16.43B | 3.65B | 3.16B | 2.57 | 3.22B | 22.2% | 42.2% | 10-K, Feb 3, 20220000002488-22-000016 |
| FY2020 | 9.76B | 1.37B | 2.49B | 2.06 | 777.0M | 14.0% | 42.7% | 10-K, Jan 29, 20210001628280-21-001185 |
| FY2019 | 6.73B | 631.0M | 341.0M | 0.30 | 276.0M | 9.4% | 12.1% | 10-K, Feb 4, 20200000002488-20-000008 |
| FY2018 | 6.47B | 451.0M | 337.0M | 0.32 | -129.0M | 7.0% | 26.6% | 10-K, Feb 8, 20190000002488-19-000011 |
| FY2017 | 5.33B | 127.0M | -33.0M | -0.03 | -101.0M | 2.4% | -5.5% | 10-K, Feb 27, 20180000002488-18-000042 |
| FY2016 | 4.27B | -373.0M | -498.0M | -0.60 | 4.0M | -8.7% | -104.4% | 10-K, Feb 21, 20170000002488-17-000043 |
Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.
The accounting screens, the published tests, and the lines you can set to be told.
ComputedCompany statement
| Figure | Value, source and document |
|---|---|
| Beneish M-score | -2.30 Computed. Sources for Beneish M-scoreFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Piotroski F-score | 8/9 Computed. Sources for Piotroski F-scoreFY2025 10-K, filed Feb 4, 2026, 0000002488-26-000018 |
| Named tests met | 2 of 30 Computed. Sources for Named tests met |
| Beta | 1.95 Computed. Sources for Beta21:00 UTC |
Of 30 tests value investors published: 2 met, 26 not met, 2 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.
Whether anybody here owns this company.
Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.
A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.
And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.
Then we check your line against newly filed data and write to you the night our data shows it broke. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published. It is Professional, the plan a new account starts on for 30 days, one trial per person.
No card. 30 free days, and nothing is charged unless you choose a plan.
ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.
Once a week, what changed in the filings of US-listed companies, and what it can mean for a thesis.