What is Advanced Micro Devices Inc worth?
With the base-case assumptions below, a discounted cash flow model on Advanced Micro Devices Inc's reported free cash flow gives $136.21 per share. The share price was $510.70 on November 10, 2026, 275% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $82.84 | -84% |
| Base | 15.0% | 9.0% | $136.21 | -73% |
| Bull | 20.0% | 8.0% | $235.59 | -54% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $176.62 | $189.22 | $204.62 | $223.87 | $248.62 |
| 8.0% | $146.27 | $154.44 | $164.09 | $175.68 | $189.84 |
| 9.0% | $124.18 | $129.77 | $136.21 | $143.73 | $152.62 |
| 10.0% | $107.43 | $111.41 | $115.91 | $121.05 | $126.99 |
| 11.0% | $94.33 | $97.24 | $100.50 | $104.16 | $108.31 |
Where the presets come from
Base: years 1 to 5 grow at Advanced Micro Devices Inc's revenue growth rate over the last 5 fiscal years (28.8% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions