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AMD

Advanced Micro Devices, Inc.

AMD

Advanced Micro Devices, Inc. • NASDAQ
$217.52 ▲ 1.53% (+3.28)
Market Cap $353.04 B
52w High $267.08
52w Low $76.48
Dividend Yield 0%
P/E 113.88
Volume 18.56M
Outstanding Shares 1.62B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $9.246B ▲ $3.51B ▲ $1.243B ▲ 13.444% ▲ $0.76 ▲ $2.116B ▲
Q2-2025 $7.685B ▲ $3.193B ▲ $872M ▲ 11.347% ▲ $0.54 ▲ $721M ▼
Q1-2025 $7.438B ▼ $2.93B ▼ $709M ▲ 9.532% ▲ $0.44 ▲ $1.587B ▼
Q4-2024 $7.658B ▲ $3.011B ▲ $482M ▼ 6.294% ▼ $0.3 ▼ $1.694B ▲
Q3-2024 $6.819B $2.695B $771M 11.307% $0.48 $1.598B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $11.233B ▲ $76.891B ▲ $16.101B ▲ $60.79B ▲
Q2-2025 $5.867B ▼ $74.82B ▲ $15.155B ▲ $59.665B ▲
Q1-2025 $7.31B ▲ $71.55B ▲ $13.669B ▲ $57.881B ▲
Q4-2024 $5.132B ▲ $69.226B ▼ $11.658B ▼ $57.568B ▲
Q3-2024 $4.544B $69.636B $12.651B $56.985B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.172B ▲ $2.159B ▲ $-1.337B ▲ $-450M ▲ $372M ▲ $1.901B ▲
Q2-2025 $768M ▲ $2.011B ▲ $-2.298B ▼ $-1.319B ▼ $-1.606B ▼ $1.729B ▲
Q1-2025 $709M ▲ $939M ▼ $-357M ▲ $1.666B ▲ $2.248B ▲ $727M ▼
Q4-2024 $482M ▼ $1.299B ▲ $-1.214B ▼ $-171M ▲ $-86M ▲ $1.091B ▲
Q3-2024 $771M $628M $-138M $-706M $-216M $496M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Client and Gaming
Client and Gaming
 $0 ▲$2.94Bn ▲$3.62Bn ▲$4.05Bn ▲
Data Center
Data Center
 $3.86Bn ▲$3.67Bn ▼$3.24Bn ▼$4.34Bn ▲
Embedded
Embedded
 $920.00M ▲$820.00M ▼$820.00M ▲$860.00M ▲
Client
Client
 $2.31Bn ▲$0 ▼$0 ▲$0 ▲
Gaming
Gaming
 $560.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement AMD’s sales have grown strongly over the past few years, especially as it expanded in data centers and high‑performance computing. However, profits have been much more up and down. After a very strong year earlier in the decade, margins were squeezed as the company absorbed acquisitions, spent more on product development, and faced a softer PC cycle and heavier competition. More recently, profitability has started to recover, but earnings are still below prior peaks relative to the size of the business. Overall, this looks like a company with clear revenue momentum, but still working to rebuild and stabilize its profit margins in a more demanding competitive and investment environment.

Balance Sheet

Balance Sheet The balance sheet looks solid and fairly conservative. Total assets and equity jumped after the Xilinx acquisition, which means a large share of AMD’s asset base is tied up in goodwill and other intangibles rather than factories or hard assets—typical for a fabless chip designer. Cash levels are healthy and debt is quite modest relative to the company’s size and equity base, suggesting financial flexibility and no obvious balance‑sheet stress. The key risk is less about leverage and more about maintaining the value of those intangibles through continued product success.

Cash Flow

Cash Flow The limited cash‑flow data available suggests AMD’s core operations generate meaningful cash, with capital spending that is very manageable for a fabless model. Because AMD outsources manufacturing, it does not need the massive plant and equipment spending that an integrated chip maker would face, which helps free cash flow. That said, the company still needs to invest in design tools, validation, and packaging capacity at partners, so cash use may rise in AI and data‑center build‑outs. With partial information, the broad picture is of a business that can fund its growth internally, but whose cash flows can swing with cycles in PCs, data centers, and inventory digestion.

Competitive Edge

Competitive Edge AMD has moved from underdog to serious contender in several core markets. In CPUs, it has earned real share against Intel in both PCs and servers by offering strong performance and energy efficiency, helped by its chiplet design and access to advanced manufacturing from TSMC. In GPUs and AI accelerators, AMD is still a challenger: NVIDIA retains a clear lead in market share and software ecosystem depth, but AMD’s hardware performance is increasingly competitive and its more open, less “locked‑in” approach appeals to some customers. The Xilinx business adds a niche but meaningful edge in adaptive and embedded computing. Overall, AMD has a narrow but strengthening moat built on design know‑how, IP, and customer relationships, but it competes head‑to‑head with very powerful rivals in cyclical markets, so its position needs constant reinforcement.

Innovation and R&D

Innovation and R&D Innovation is at the heart of AMD’s strategy. The company’s chiplet architecture, Zen CPU cores, and RDNA graphics designs have been key in closing and sometimes reversing the performance gap with competitors. Its roadmap is ambitious: new generations of Zen CPUs, RDNA GPUs, and Instinct AI accelerators are planned on a steady cadence, often leveraging the most advanced manufacturing nodes. The integration of Xilinx broadens AMD’s toolkit into adaptive computing, which is valuable for 5G, automotive, and industrial uses. On the software side, AMD is pushing an open AI ecosystem through ROCm to counter NVIDIA’s CUDA dominance. The opportunity is large, especially in AI and data centers, but execution risk is high—AMD must hit performance, power, and timing targets consistently to stay relevant, and it must convince developers and cloud providers to invest in its software stack.

Summary

AMD today is a growth‑oriented chip designer with a stronger competitive footing than in the past, backed by a generally healthy balance sheet and solid cash‑generation potential. Revenue trends are encouraging, but profit margins have been volatile as the firm invests heavily and navigates sharp industry cycles. Its main strengths lie in cutting‑edge CPU designs, credible progress in GPUs and AI accelerators, and a broadened portfolio through Xilinx that reaches into adaptive and embedded computing. Key uncertainties center on intense competition from larger rivals, the race for AI leadership, the need to keep its software ecosystem attractive, and the inherently cyclical nature of semiconductor demand. The company’s long‑term story hinges on turning its ambitious innovation roadmap into sustained, stable profitability while maintaining financial discipline.

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