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Designs CPUs and GPUs for PCs, servers and AI data centers, competing head-to-head with Intel and Nvidia.
Designs CPUs and GPUs for PCs, servers and AI data centers, competing head-to-head with Intel and Nvidia.
Designs chips and relies on TSMC to make them. Sells server processors to cloud companies, accelerators to data centers and PC chips to PC makers, and also supplies the processors inside Sony and Microsoft game consoles. The 2022 purchase of Xilinx added its programmable-chip line.
Moat: narrow (IP / patents, process know-how, customer qualification). x86 license plus TSMC leading-edge access lets it compete on performance, but Nvidia leads on AI software.
Headquarters: Santa Clara, California, US · Founded: 1969 · Employees: 31,000
Size Advanced Micro Devices (AMD) is a United States Information Technology company (Semiconductors) with a market value of $733B, the 17th largest of 3,117 United States companies the cockpit tracks. Shares closed at $449.04 on 6 Nov 2026.
Performance Over six months the shares fell 1.4%, against -12.0% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 10 in its peer set.
Growth Revenue grew 41.9% over the last twelve months (peer median +42.4%); the operating margin is 17.7% (peer median 43.6%).
Valuation It trades at 30.0× forward earnings against a peer median of 16.9× (4th most expensive of 10).
Price implies For today's price to make sense, revenue must grow about 61% a year for seven years (Req g). Recent delivered growth is +29%, so the hurdle is +32 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.8 points below its cost of capital (17.2% WACC).
Backlog Backlog (remaining performance obligations) was $246M at 26 Sep 2026, down 12% on a year earlier — 0.0 years of trailing revenue. Backlog detail →
Credit Advanced Micro Devices has 7 bonds outstanding ($6.38B), rated A by the agencies and trading like A- at a weighted spread of 73 bp.
Short interest Short interest is 2.3% of the free float (15 Oct 2026).
Next results Next results expected around 2 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $45.4B | $34.6B | $25.8B | $22.7B | $23.6B |
| Revenue growth | — | +34% | +14% | -4% | — |
| Gross profit | $23.3B | $15.9B | $11.3B | $8.59B | $8.50B |
| EBITDA | $11.1B | $6.52B | $5.18B | $4.18B | $5.88B |
| Net income | $7.62B | $4.33B | $1.64B | $854M | $1.32B |
| Free cash flow | $7.06B | $6.74B | $2.40B | $1.12B | $3.12B |
| Capital expenditure | $2.07B | $974M | $636M | $546M | $450M |
| Total debt | $8.92B | $4.01B | $2.32B | $3.11B | $2.96B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Advanced Micro Devices AMD | $733B | -1% | +42% | 18% | 30.0× | 60.9% |
| Intel INTC | $299B | -55% | +12% | 11% | 39.9× | 46.1% |
| Nvidia NVDA | $4.50T | -13% | +83% | 65% | 15.5× | 26.3% |
| Qualcomm QCOM | $177B | -24% | +2% | 24% | 17.0× | 15.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AMD | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -27.6% | -25.5% | 6th highest of 11 |
| 6-month return | -1.4% | -12.0% | highest of 10 |
| Distance from 52-week high | -31.8% | -42.8% | 4th highest of 11 |
| Revenue growth (TTM) | +41.9% | +42.4% | 6th highest of 11 |
| Operating margin | 17.7% | 43.6% | 4th lowest of 11 |
| Forward P/E | 30.0× | 16.9× | 4th most expensive of 10 |
| Growth the price implies (Req g, 7 yrs) | 60.9% | 16.7% | most demanding of 9 |
| Growth delivered (Del g) | +28.8% | +20.1% | 2nd highest of 9 |
| Hurdle (Req g minus delivered) | +32.1 pp | -4.1 pp | 2nd most demanding of 9 |
| ROIC minus cost of capital | -6.8 pp | +26.0 pp | 3rd lowest of 11 |
| EV / EBITDA | 65.4× | 24.0× | 2nd most expensive of 8 |
| Net debt / EBITDA | -0.6× | -0.5× | 5th least indebted of 9 |
| Bond spread | 73 bp | 85 bp | 3rd tightest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Advanced Micro Devices AMD | United States | $733B | -1% | +42% | 18% | 30.0× | 60.9% | +28.8% |
| Micron Technology MU | United States | $781B | -8% | +256% | 75% | 3.9× | 7.1% | +36.9% |
| SK hynix 000660.KS | South Korea | $608B | -12% | +220% | 74% | 3.1× | -3.1% | +24.9% |
| SamsungElec 005930.KS | South Korea | $886B | -14% | +88% | 46% | 4.0× | -7.2% | +7.1% |
| ASML ASML.AS | Netherlands | $550B | -6% | +23% | 39% | 31.1× | 28.9% | +18.5% |
| CXMT 688825.SS | China | $411B | n/a | +156% | 13% | n/a | n/a | n/a |
| Broadcom AVGO | United States | $1.40T | -32% | +49% | 49% | 16.9× | 26.6% | +21.7% |
| Taiwan Semiconductor Manufactur 2330.TW | Taiwan | $1.67T | -5% | +36% | 58% | 15.0× | 10.1% | +23.3% |
| Intel INTC | United States | $299B | -55% | +12% | 11% | 39.9× | 46.1% | -7.5% |
| Texas Instruments TXN | United States | $253B | -4% | +20% | 41% | 24.6× | 23.3% | +4.1% |
| Arm ARM | United States | $204B | -18% | +25% | 17% | 67.7× | n/a | n/a |
Advanced Micro Devices has 7 bonds outstanding with $6.38B face value. The agencies rate it A; its bonds trade like A-. Weighted yield 5.40%, a spread of 73 bp over government bonds.
Advanced Micro Devices reported $246M of remaining performance obligations at 26 Sep 2026, down 12% from a year earlier and up 11% from the previous quarter. That is 0.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.