ADVANCED MICRO DEVICES INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ADVANCED MICRO DEVICES INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	4,319	5,329	6,475	6,731	9,763	16,434	23,601	22,680	25,785	34,639
Cost of revenue	3,316	3,466	4,028	3,863	5,416	8,505	12,998	12,220	13,060	17,487
Gross profit	1,003	1,787	2,447	2,868	4,347	7,929	10,603	10,460	12,725	17,152
Research and development	1,008	1,196	1,434	1,547	1,983	2,845	5,005	5,872	6,456	8,091
Selling, general and administrative	466	516	562	750	995	1,448	2,336	2,318	2,735	4,144
Selling and marketing	131	156	176	217	314	578	683	695	1,200	2,400
Operating expenses								10,059	10,825	13,458
Operating income	-373	127	451	631	1,369	3,648	1,264	401	1,900	3,694
Interest expense	156	126	121	94	47	34	88	106	92	131
Other non-operating income	80	-9	0	-165	-47	55	8	197	181	577
Pre-tax income	-459	-15	328	372	1,280	3,675	1,198	508	2,022	4,166
Income tax	39	18	-9	31	-1,210	513	-122	-346	381	-103
Income from continuing operations								854	1,641	4,269
Net income	-498	-33	337	341	2,490	3,162	1,320	854	1,641	4,335
EBITDA	-240	271	621	853	1,586	3,944	1,703	842	2,354	4,215
EPS, basic	-0.60	-0.03	0.34	0.31	2.10	2.61	0.85	0.53	1.01	2.67
EPS, diluted	-0.60	-0.03	0.32	0.30	2.06	2.57	0.84	0.53	1.00	2.65
Shares, basic (weighted)	835	952	982	1,091	1,184	1,213	1,561	1,614	1,620	1,624
Shares, diluted (weighted)	835	952	1,064	1,120	1,207	1,229	1,571	1,625	1,637	1,636

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1,264	1,185	1,078	1,466	1,595	2,535	4,835	3,933	3,787	5,539
Short-term investments	0	0	78	37	695	1,073	1,020	1,840	1,345	5,013
Receivables	372	454	1,235	1,859	2,066	2,706	4,126	4,323	6,192	6,315
Inventory	691	694	845	982	1,399	1,955	3,771	4,351	5,734	7,920
Other current assets	115	191	195	233	378	312	1,265	1,259	1,363	2,160
Total current assets	2,530	2,634	3,540	4,597	6,143	8,583	15,019	16,768	19,049	26,947
Property, plant and equipment	164	261	348	500	641	702	1,513	1,589	1,802	2,312
Lease right-of-use assets			0	205	208	367	460	633	623
Goodwill	289	289	289	289	289	289	24,177	24,262	24,839	25,126
Intangible assets						0	24,118	21,363	18,930	16,705
Other non-current assets	279	310	321	357	373	1,478	2,152	2,805	3,918	5,452
Total assets	3,321	3,552	4,556	6,028	8,962	12,419	67,580	67,885	69,226	76,926
Accounts payable	440	384	834	988	468	1,321	2,493	2,055	2,466	2,929
Accrued liabilities	400	555	783	1,084	1,796	2,424	3,077	3,082	4,260	5,250
Deferred revenue	0	85	11	2
Short-term debt	0	70	136	0	0	312	0	751	0	874
Total current liabilities	1,346	1,513	1,984	2,359	2,417	4,240	6,369	6,689	7,281	9,455
Long-term debt	1,435	1,325	1,114	486	330	1	2,467	1,717	1,721	2,348
Lease liabilities			0	199	201	348	396	535	491	625
Other non-current liabilities	124	118	192	157	177	321	1,664	1,850	1,816	1,186
Total liabilities	2,844	2,956	3,290	3,201	3,125	4,922	12,830	11,993	11,658	13,927
Total debt	1,435	1,395	1,250	486	330	1	2,467	2,468	1,721	3,222
Paid-in capital	8,334	8,464	8,750	9,963	10,544	11,069	58,005	59,676	61,362	63,365
Retained earnings	-7,742	-7,775	-7,436	-7,095	-4,605	-1,451	-131	723	2,364	6,699
Treasury stock	-119	-108	-50	-53	-131	-2,130	-3,099	-4,514	-6,106	-7,079
Other comprehensive income	-5	6	-8	0	17	-3	-41	-10	-69	-3
Shareholders' equity	477	596	1,266	2,827	5,837	7,497	54,750	55,892	57,568	62,999
Total equity	477	596	1,266	2,827	5,837	7,497	54,750	55,892	57,568	62,999
Total liabilities and equity	3,321	3,552	4,556	6,028	8,962	12,419	67,580	67,885	69,226	76,926
Shares outstanding	935	967	1,005	1,170	1,211	1,207	1,612	1,616	1,622	1,630

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-498	-33	337	341	2,490	3,162	1,320	854	1,641	4,335
Depreciation and amortization	133	144	170	222	217	296	439	441	454	521
Stock-based compensation	86	97	137	197	274	379	1,081	1,384	1,407	1,638
Deferred income tax	20	-16	-4	-7	1,223	-308	-1,505	-1,019	-1,163	252
Change in receivables	178	-103	-806	-623	-219	-640	-278	-1,339	-1,865	-121
Change in inventory	-48	-3	-151	-137	-417	-556	-1,401	-580	-1,458	-2,189
Change in payables	66	-8	212	153	-513	801	931	-519	3	410
Cash from operations	81	12	34	493	1,071	3,521	3,565	1,667	3,041	7,709
Capital expenditures	-77	-113	-163	-217	-294	-301	-450	-546	-636	-974
Purchases of investments		-222	-123	-284	-850	-2,056	-2,667	-3,722	-1,493	-5,470
Cash from investing	277	-54	-170	-149	-952	686	1,999	-1,423	-1,101	-5,533
Debt issued	782	0	0
Debt repaid		-110	-41	-403	-200	0	-312	0	-750	-950
Stock issued	667	0	0
Share buybacks				0	0	-1,762	-3,702	-985	-862	-1,316
Cash from financing	122	-33	28	43	6	1,895	-3,264	-1,146	-2,062	-431
Net change in cash	480	-75	-108	387	125	940	2,300	-902	-122	1,745
Free cash flow	4	-101	-129	276	777	3,220	3,115	1,121	2,405	6,735
Interest paid	149	88	79	67	31	25	85	84	72	91
Income taxes paid	20	20	-8	-4	8	35	685	523	1,386	884

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 27, 2026; growth uses fiscal years. Valuation uses the share price of $630.63 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	53.2%	Gross profit / revenue.
Operating margin	15.7%	Operating income / revenue.
Pre-tax margin	18.3%	Pre-tax income / revenue.
Net margin	15.6%	Net income / revenue.
FCF margin	20.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	24.4%	Cash from operations / revenue.
Effective tax rate	14.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	9.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	7.6%	Net income / average total assets.
Return on invested capital (ROIC)	8.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	22.7%	Research and development expense / revenue.
SG&A / revenue	11.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	4.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	4.1%	Capital expenditures / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	34.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	13.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	28.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	34.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	17.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	31.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	94.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	43.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	22.0%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	79.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	35.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	21.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	164.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	48.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	11.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	165.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	46.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	5.2%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	153.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	29.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	48.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	180.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	29.3%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	54.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	9.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	4.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	60.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	11.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	53.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	6.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.61x	Current assets / current liabilities.
Quick ratio	1.69x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.09x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.05x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	3.8%	Total debt / total assets.
Liabilities / assets	20.4%	Total liabilities / total assets.
Net debt	-$9.89B	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	44.1x	Operating income / interest expense.
Working capital	$19.44B	Current assets - current liabilities.
Goodwill and intangibles / assets	48.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$26.12B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.49x	Revenue / average total assets.
Fixed asset turnover	12.0x	Revenue / average property, plant and equipment.
Inventory turnover	2.28x	Cost of revenue / average inventory.
Days inventory	160 days	365 x average inventory / cost of revenue.
Receivables turnover	5.67x	Revenue / average receivables.
Days sales outstanding	64 days	365 x average receivables / revenue.
Days payables	101 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	123 days	Days inventory + days sales outstanding - days payables.
FCF conversion	130.6%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	16.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.88	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$24.90	Revenue / diluted weighted shares.
FCF per share	$5.07	Free cash flow / diluted weighted shares.
Operating cash flow per share	$6.08	Cash from operations / diluted weighted shares.
Book value per share	$41.19	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$16.00	Tangible book value / shares outstanding.
Cash per share	$8.03	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	3.7%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.03T	Share price x shares outstanding.
Enterprise value	$1.02T	Market cap + total debt - cash - short-term investments.
P/E	160x	Market cap / net income. Only when net income is positive.
P/S	24.9x	Market cap / revenue.
P/B	15.3x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	39.4x	Market cap / tangible book value, when positive.
P/FCF	123x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	102x	Market cap / cash from operations, when positive.
EV/Sales	24.7x	Enterprise value / revenue.
EV/EBIT	157x	Enterprise value / operating income, when both are positive.
EV/FCF	121x	Enterprise value / free cash flow, when both are positive.
FCF yield	0.8%	Free cash flow / market cap.
Earnings yield	0.6%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.0%	(Dividends paid + share buybacks) / market cap.
PEG	3.43x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was ADVANCED MICRO DEVICES INC's revenue in fiscal 2025?

ADVANCED MICRO DEVICES INC reported revenue of $34.64B for fiscal 2025, 34.3% higher than the year before.

Was ADVANCED MICRO DEVICES INC profitable in fiscal 2025?

Yes. Net income was $4.34B, a net margin of 12.5%.

How much free cash flow did ADVANCED MICRO DEVICES INC generate in fiscal 2025?

Cash from operations of $7.71B minus capital expenditures of $974.0M left free cash flow of $6.74B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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