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AMD

Advanced Micro Devices NasdaqGS:AMD Stock Report

Last Price

US$68.36

Market Cap

US$110.4b

7D

-8.2%

1Y

-31.9%

Updated

28 Sep, 2022

Data

Company Financials +
AMD fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance2/6
Financial Health6/6
Dividends0/6

AMD Stock Overview

Advanced Micro Devices, Inc. operates as a semiconductor company worldwide.

Advanced Micro Devices Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Advanced Micro Devices
Historical stock prices
Current Share PriceUS$68.36
52 Week HighUS$164.46
52 Week LowUS$66.00
Beta1.97
1 Month Change-22.75%
3 Month Change-10.61%
1 Year Change-31.88%
3 Year Change141.47%
5 Year Change413.60%
Change since IPO1,557.21%

Recent News & Updates

Sep 26

AMD: A $200+ Stock When The Market Wakes Up

Summary AMD's stock has been undeservedly hammered (down 60% from highs) due to weakness in other semiconductor firms. However, AMD has reported earnings growth (67% growth YoY), guided higher, and recently implicitly reaffirmed their guidance. Even if economic conditions are challenging, AMD earnings are set to explode higher. AMD is trading at 15x current earnings and 7x predicted 2023 earnings. It's a coiled spring ready to rocket when the market wakes up. Advanced Micro Devices, Inc. (AMD) has grown revenues 85% CAGR the past 2 years despite being supply constrained. The company is gaining market share and increasing margins, and has a lot of room to grow. The company is likely to be earning at a $10/share rate in a year. So why is the stock trading at less than 7x my earnings outlook? The market is failing to see what is really going on. Market Mistakes Semi Inventory Correction for End of Cycle For a couple years now, we’ve seen people calling for the end of the semiconductor market cycle. Those calls have intensified now as the industry has entered an inventory correction. What happened is that a lot of demand for PCs was pulled forward due to COVID and work/learn from home needs increased. And as supply chains were disrupted, manufacturers increased inventories. This has been a well-known phenomenon, and widely talked about the past couple years. The correction is playing out as expected. Meanwhile, while there are pockets of weakness in PCs (COVID reset), and gaming (Ethereum demand ending), overall demand is still running along. The economy is still running hot, and unemployment is still close to record lows at 3.7%. There is little reason to expect the end of the semiconductor cycle to be at hand. Nevertheless, some market participants have been indiscriminately hammering semis, and sending AMD down without respect to its strong fundamentals. Market Mistakes Semi Weakness for AMD Weakness COVID-related PC demand and Ethereum mining demand are the two major forces driving the inventory correction. As a result, a select set of semiconductor firms heavily dependent on those sources of demand have missed earnings and had to bring their guidance down dramatically. Intel (INTC) and Nvidia (NVDA) are firms with much more concentrated exposure to these two demand drop-offs, and they sold off as a result. But other firms, like AMD, are not as susceptible to these sources of demand weakness. During their Q2 earnings, AMD noted that they were seeing weakness in PCs and Gaming and guided with that data in mind. And around a week ago, with only 2 weeks left in Q3, AMD management implicitly reaffirmed their Q3 guide and forward looking growth prospects, in large part thanks to strength in the high-margin datacenter. It makes sense to sell INTC and NVDA on their weakness, especially as they should continue to lose market share to AMD. It does not make sense to sell AMD based on the weakness of competitors that AMD is taking share from. Market Mistakenly Thinks AMD/NVDA Should Trade Together Having followed AMD and NVDA daily for years, I can attest that the two stocks are often traded in tandem. The market got used to this kind of activity and appears to be continuing it even when it no longer makes sense. While AMD used to be heavily exposed to gaming GPU sales, now that is a small minority of their sales. AMD doesn’t disclose gaming GPU sales revenues on their own, but a reasonable estimate is they comprised 15% of revenues in Q1. Since AMD went to meaningful lengths to focus on supplying GPUs to OEMs and gamers, likely half or more of those sales were to actual gamers (instead of for crypto mining). In contrast, GPUs in the Gaming and Pro Viz segments comprised the majority of Nvidia’s revenues in Q1. And, Nvidia was shrewdly taking advantage of the crypto mining demand, and made a ton of money selling to miners. It now appears that the majority of their Gaming and Pro Viz segments was actually for crypto mining, and not actual gamers and designers. Now that the market is starting to realize that Nvidia’s sales were substantially inflated and unsustainable, the stock is down 65% from its highs. This is reasonable given how obscene NVDA’s valuation was, at over 100x TTM earnings at the peak—and much of those earnings was from crypto mining demand that is gone permanently. But selling off AMD to this degree is nonsensical. AMD does not have close to the same level of crypto exposure that Nvidia did. For Q2, AMD beat earnings and guided higher. For Q2, NVDA had horrendous earnings, guided lower, and then guided lower again due to Chinese sales restrictions (which AMD disclosed has no material impact on their business). The market has mistakenly sold AMD down as NVDA has fallen, despite widely divergent fundamentals. This error should be reversed in time. Market Mistakenly Thinks AMD is High PE Stock AMD has historically been a high P/E stock due to its strong growth prospects. The market appears to mistakenly believe that it is still a high P/E stock and should be traded like one, sending it down 5% in a day on a whim. I also see traders including AMD in their list of high P/E stocks to sell on weakness in the indexes. The market appears to be slow to catch on that AMD is now trading at about 15 times current earnings—below the average P/E ratio for the S&P 500, and Nasdaq. Perhaps traders need to update their P/E ratio calculations. Or perhaps the market is confused because GAAP earnings are significantly lower than non-GAAP earnings (and Free Cash Flow) due to amortizing the charges related to the Xilinx acquisition. Regardless of the reason, I expect that this error will be corrected over time as earnings keep growing and the company buys back more and more of the stock float. Reality: AMD Grew Earnings, Guided Higher, and Implicitly Reaffirmed Guide Recently The reality is that while certain other firms were seeing sharp falloffs in their business, AMD was still growing. During their Q2 earnings call, AMD management noted that they were seeing weakness in PCs and Gaming, and incorporated that into their Q3 guide. And in an investor Q&A discussion with 2 weeks left in Q3, AMD management implicitly reaffirmed their Q3 guide, citing weakness in PCs and Gaming offset by strength in Datacenter and Consoles. AMD should not have been sold because of weakness in other firms, when AMD was beating earnings and raising their guide, and reaffirming their guide, and had credible reasons for doing so. Growth Prospects for the Next Year Datacenter Due to the high margins and AMD’s dominant product offerings, which are only going to get better in the coming months as 4th generation EPYC Genoa is launched, Datacenter is where AMD’s profit growth is most likely to continue to explode upwards. AMD should soon start taking majority market share in the hyperscaler segment, and make serious inroads in enterprise. While all indications are that the datacenter market remains strong, AMD sales should grow significantly even if the overall datacenter market demand drops off meaningfully, as AMD takes greater market share from Intel. AMD is also poised to launch CDNA 3, the next generation of their Instinct datacenter GPU product. While their earlier versions of Instinct showed significant progress, and started taking market share, the 3rd generation is described by AMD management as their first leadership product in the space. While I am not modeling significant share gains in the next year, there is a strong chance that AMD does well in this area, and that provides upside to my model. Xilinx and Pensando are also poised to grow nicely in the datacenter their own right, as well as increase sales of EPYC and Instinct with AMD datacenter bundling. I am not modeling significant gains here, so contributions here would provide upside to my model. Overall, even with potentially difficult economic conditions developing over the next year, it’s hard to see AMD Datacenter not growing significantly over the next year. This segment grew 83% in the last year, despite significant supply constraints in EPYC. Management is reporting that they expect supply to catch up soon and that EPYC has now hit an inflection point in growth. I am modeling 65% growth in this segment, and I view this as conservative. I would not be surprised to see the segment double or better over the next year, which would provide upside to my model. Given the high margins in this segment, much of the revenue growth drops right to the bottom line. Client AMD management confirmed at the Q&A recently that they have continued to be supply constrained in the Client segment, even during the recent PC downturn. AMD has had to focus mostly on the high end products and let Intel capture the low end. But management also confirmed that they have secured enough supply to start competing across the stack starting in Q4. So the residual inventory drawdown occurring in the PC market will limit overall growth in the segment, but this will mostly come out of Intel’s business. AMD sales should continue to grow as they take share aggressively at the high end as well as competing again across the stack. And in 2023, Intel will still not be able to compete with AMD’s performance at the high end. Even with the inventory reset in progress, this segment should grow 20% over the next year. Gaming Gaming is a bit of a question mark for the next year. On the one hand, AMD is set to introduce their updated RNDA 3 GPUs, which for a variety of reasons (outside the scope of the article) are set up to be cheaper to produce than Nvidia’s new Ada Lovelace cards, and have very strong competitive performance compared to Nvidia’s new cards (with the possible exception of ray tracing). And for a variety of reasons, AMD should take a lot of share in the laptop segment. On the other hand, since a huge portion of “gaming” GPU demand in recent years has gone to crypto miners, it’s unclear how much demand there actually will be from real gamers. The segment should recede from the mining highs. In sum, AMD should take a good chunk of market share from Nvidia, from a segment that will be down YoY. As a result, I expect AMD’s Gaming numbers to be roughly flat. Embedded I model this segment at 20% growth over the next year. There are some products that could drive growth significantly higher, but I will be conservative and look beyond them. $10 EPS Rate Likely Next Year In sum, I model that the growth in these segments should boost quarterly EPS to around $2.50 exiting 2023, a $10 per share run rate, with the growth in EPS coming heavily from the Datacenter segment. $200+ is Likely as the Market Wakes up AMD’s earnings grew 67% YoY in Q2, despite the inventory and crypto demand issues that caused Intel and Nvidia’s earnings to fall off a cliff. I am projecting AMD’s earnings to more than double by the end of next year. What’s an appropriate multiple for a tech company growing earnings around 60% to 100% per year? Often that kind of growth attracts a multiple of over 50. But let’s be more conservative. Management has guided for 20% long term revenue growth, and for higher margins. Current management has a long history of sandbagging guidance to the point that it is a joke.

Sep 20

AMD: The Dislocation Between The Stock And The Industry

Summary Not all semi stocks are the same. The industry-wide selloff has produced dislocations in value - such as AMD. AMD is a market share gain story. The macrocycle influences all fundamentals, but the selloff seems to be pricing in excessive pessimism. AMD remains under-represented in the data center despite its recent gains in the opportunity. The growth here should continue against a $50B+ TAM. At an NTM P/E of 17.2x, AMD is undervalued. Market is likely pricing in more earnings contraction, but risk/reward is present for long-term investors. Long-term, the world will continue needing more data, and more computing. Investors should take comfort in this fact when looking beyond a recession.

Sep 13

AMD: Building Resilience Amidst Economic Uncertainty

Summary Despite the semiconductor headwinds, AMD's acquisitions of Xilinx and Pensando can lead to best-in-class growth, offsetting the projected weakness in gaming over the next year. AMD remains on track on its new product roadmap, and the upcoming 4nm-based Zen 5 launch in 2024 targets more performance gains with further optimization for AI workloads. AMD is improving its competitiveness across CPU and GPU products with Ryzen, EPYC, and Radeon Vega platforms, expanding its market share. Despite the worsening macroeconomic environment and the escalating US-China tensions, AMD is a strong buy at current levels. Investment Thesis Advanced Micro Devices, Inc. (NASDAQ:AMD), it's a stock I always avoided due to the hype and overvaluation. However, despite the current uncertainty in the market and headwinds in the semiconductor sector, I cannot ignore its impressive growth prospects and very attractive valuation point. As a result, AMD has entered my strong buying zone, but I wouldn't overweight a position yet. Thus, in the below analysis, we review some of the recent developments and the company's market outlook. Strong Growth Trajectory AMD reported a record quarterly revenue of $6.6 billion, up 70% year-over-year, driven by margin expansion and growth across all segments and acquisitions. Data centers remain the company's fastest-growing segment, reporting an 83% increase in the previous quarter, and with the current momentum, it might overtake the gaming and client segments which are AMD's largest revenue-producing sources. Data Center - Xilinx & Pensando A continued focus on expanding its data-center market share organically and through acquisitions like Xilinx and Pensando can lead to best-in-class growth, offsetting the projected weakness in gaming over the next year. Not surprisingly, gross profit margins have expanded due to higher Xilinx sales, and it is expected for AMD to further leverage FPGAs in the data center segment leading to improved margins. AMD Q2 Results The recent acquisitions of Xilinx and Pensando will allow the company to expand its data center footprint and market opportunity even further in the cloud, enterprise, and HPC markets. Finally, the company is well-positioned to gain market share in server CPU with its aggressive technology/product roadmap. Gaining Share In Data Center With EPYC The management commented in the earnings call that they saw record server CPU revenue in Q2, assisted by more than 60 new AMD-powered instances deployed at AWS (AMZN), Baidu (BIDU), Google (GOOG) (GOOGL), Microsoft (MSFT) Azure, and Oracle (ORCL). In addition, despite macro uncertainty and some matched set issues, enterprise adoption of AMD continues to accelerate at Dell (DELL), HP Enterprise (HPE), Lenovo (OTCPK:LNVGY), Supermicro, and Cisco (CSCO). JPMorgan recently conducted a survey of 142 CIOs who manage ~$100 billion of annual enterprise IT spending power and revealed that there is a significant increase in intent to adopt AMD's EPYC server CPUs in both on-prem enterprise and cloud servers. In addition, AMD's 3rd Gen 7nm EPYC platform launched in 2021 has gained significant traction in the cloud (>500 EPYC-based cloud instances available) and enterprise (>25 large enterprise corporations deploying EPYC-based servers), including Google Cloud. Launch Of New Zen 4-based Ryzen 7000 AMD recently announced the Ryzen 7000 Series of client CPUs based on its next-gen Zen 4 architecture built on TSMC's 5nm process node that features up to 16 cores with support for the latest storage and memory interface technology and boasts significant performance and power improvements relative to the prior Zen 3-based Ryzen 5000 series. In addition, the new series achieves incrementally better benchmarks compared to Intel Corporation's (INTC) current Alder Lake processors. AMD introduced four new SKUs for the Ryzen 7000 series, spanning 16 cores at the top end and 6 seats at the low end. Compared to the prior-gen Zen 3-based Ryzen 5000 Series, the Ryzen 7000 Series boasts a 13% average uplift to instruction per clock (IPC) over 22 desktop workloads with a 29% improvement in single-threaded performance and 27% better performance-per-watt. The new models, which will be available from September 27, are good news for gamers, video editors, and anybody who demands high performance. Built on an optimized, high-performance, TSMC 5nm process node, the Ryzen 7000 Series processors will offer high performance and leading energy efficiency. In addition, the AMD Ryzen 7950X processor enables up to 15% faster gaming performance than the previous generation. AMD Premiere (YouTube) On-time Zen 4 launch sets the stage for continued roadmap execution. The company also indicated that it remains on track on its new product roadmap, with a new desktop CPU supporting 3D V-cache for memory-intensive workloads. In addition, the 4nm-based Zen 4c will be available in server CPUs in 2023. It will deliver the identical functionality of a Zen 4 in half the core area targeted for applications that don't need to run at the highest frequency. Finally, looking further out, the 4nm-based Zen 5 is on track for 2024, targeting more performance gains with further optimization for AI workloads. Last but not least, following on the heels of its 4th generation Zen 4-based 5nm "Genoa" general-purpose server CPU in Q4 2022, which promises 75%+ higher performance than the Zen 3 version, the AMD team is planning to ramp a Zen 4c-based "Bergamo" cloud-native server CPU with 2x cloud container density vs. the Zen 3 version in 2023. AMD has achieved meaningful progress within 2022, and with the current momentum, its roadmap seems highly attainable. AMD's Roadmap (AnandTech) Zen 4 Ryzen 7000 Vs. Intel Alder & Raptor Lake While AMD's new Ryzen 7000 series client CPU platform certainly raises the performance standards, the lead will likely be short-lived given Intel's competing Raptor Lake, just around the corner, which is expected to launch as early as October of this year. Based on early reviews, the generation-to-generation performance gains in Intel Raptor Lake will likely be on par with AMD's Zen 4, which would mean the two companies will again be head-to-head with each other after Intel regained parity in client CPU with Alder Lake late last year. As for pricing, AMD priced the flagship Ryzen 9 7950X at $699, $100 less than the top-of-the-line 5950X of the prior Ryzen 5000 Series, which could be in anticipation of the competitive environment ahead with the upcoming Raptor Lake launch. Worsening Macro Environment; Headwinds AMD typically derives ~50% of its revenue from the core PC end market, which is highly correlated with macroeconomic conditions. Therefore, if the PC end market is weaker/stronger than expected, then this could lead to a decrease/increase in microprocessor and GPU shipments, which could result in a downward/upward revision of our revenue and EPS estimates for AMD. Despite AMD's positive outlook on the H2 of the year, I anticipate a global demand slowdown which will pose headwinds to both PC and server TAM. Over the last month, several chipmakers, including Micron (MU), Intel, AMD, and Nvidia (NVDA), warned of a worsening outlook for the second half of this year and have warned of weaker export orders. Moreover, shrinking tech demand highlights a gloomier outlook for the sector as Russia's conflict with Ukraine and increasing interest rates dampen economic activity.

Sep 13
Here How Much AMAT, KLAC, LRCX, and AMD may be Impacted by Future Licensing Requirements for China

Here How Much AMAT, KLAC, LRCX, and AMD may be Impacted by Future Licensing Requirements for China

The U.S. administration is may widen the restrictions on exports of semiconductors to China in order to limit China's ability to import technology that can be used against U.S. national security interests. Stocks like AMAT, KLAC, LRCX have 27%+ revenue exposure to the Chinese market which may be affected.

Shareholder Returns

AMDUS SemiconductorUS Market
7D-8.2%-3.4%-2.0%
1Y-31.9%-25.1%-20.3%

Return vs Industry: AMD underperformed the US Semiconductor industry which returned -27.2% over the past year.

Return vs Market: AMD underperformed the US Market which returned -22.1% over the past year.

Price Volatility

Is AMD's price volatile compared to industry and market?
AMD volatility
AMD Average Weekly Movement7.0%
Semiconductor Industry Average Movement7.9%
Market Average Movement6.9%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.8%

Stable Share Price: AMD is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: AMD's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
196915,500Lisa Suhttps://www.amd.com

Advanced Micro Devices, Inc. operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.

Advanced Micro Devices Fundamentals Summary

How do Advanced Micro Devices's earnings and revenue compare to its market cap?
AMD fundamental statistics
Market CapUS$110.35b
Earnings (TTM)US$3.13b
Revenue (TTM)US$21.58b

35.3x

P/E Ratio

5.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AMD income statement (TTM)
RevenueUS$21.58b
Cost of RevenueUS$10.63b
Gross ProfitUS$10.95b
Other ExpensesUS$7.82b
EarningsUS$3.13b

Last Reported Earnings

Jun 25, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.94
Gross Margin50.75%
Net Profit Margin14.51%
Debt/Equity Ratio5.0%

How did AMD perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is AMD undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AMD?

Other financial metrics that can be useful for relative valuation.

AMD key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue5x
Enterprise Value/EBITDA19.1x
PEG Ratio1.4x

Price to Earnings Ratio vs Peers

How does AMD's PE Ratio compare to its peers?

AMD PE Ratio vs Peers
The above table shows the PE ratio for AMD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average18.3x
QCOM QUALCOMM
10.4x0.04%US$133.6b
ADI Analog Devices
39.4x12.4%US$74.4b
INTC Intel
5.8x3.2%US$111.4b
TXN Texas Instruments
17.4x-3.3%US$148.8b
AMD Advanced Micro Devices
35.3x25.5%US$110.4b

Price-To-Earnings vs Peers: AMD is expensive based on its Price-To-Earnings Ratio (35.3x) compared to the peer average (18.3x).


Price to Earnings Ratio vs Industry

How does AMD's PE Ratio compare vs other companies in the US Semiconductor Industry?

Price-To-Earnings vs Industry: AMD is expensive based on its Price-To-Earnings Ratio (35.3x) compared to the US Semiconductor industry average (15.4x)


Price to Earnings Ratio vs Fair Ratio

What is AMD's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AMD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.3x
Fair PE Ratio43.8x

Price-To-Earnings vs Fair Ratio: AMD is good value based on its Price-To-Earnings Ratio (35.3x) compared to the estimated Fair Price-To-Earnings Ratio (43.8x).


Share Price vs Fair Value

What is the Fair Price of AMD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AMD ($68.36) is trading below our estimate of fair value ($160.59)

Significantly Below Fair Value: AMD is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Advanced Micro Devices forecast to perform in the next 1 to 3 years based on estimates from 39 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


25.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AMD's forecast earnings growth (25.5% per year) is above the savings rate (1.9%).

Earnings vs Market: AMD's earnings (25.5% per year) are forecast to grow faster than the US market (14.8% per year).

High Growth Earnings: AMD's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: AMD's revenue (12.2% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: AMD's revenue (12.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AMD's Return on Equity is forecast to be low in 3 years time (15.6%).


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Past Performance

How has Advanced Micro Devices performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


66.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: AMD has high quality earnings.

Growing Profit Margin: AMD's current net profit margins (14.5%) are lower than last year (25.8%).


Past Earnings Growth Analysis

Earnings Trend: AMD has become profitable over the past 5 years, growing earnings by 66.6% per year.

Accelerating Growth: AMD's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: AMD had negative earnings growth (-8.7%) over the past year, making it difficult to compare to the Semiconductor industry average (54.4%).


Return on Equity

High ROE: AMD's Return on Equity (5.7%) is considered low.


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Financial Health

How is Advanced Micro Devices's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: AMD's short term assets ($13.5B) exceed its short term liabilities ($5.5B).

Long Term Liabilities: AMD's short term assets ($13.5B) exceed its long term liabilities ($6.8B).


Debt to Equity History and Analysis

Debt Level: AMD has more cash than its total debt.

Reducing Debt: AMD's debt to equity ratio has reduced from 340% to 5% over the past 5 years.

Debt Coverage: AMD's debt is well covered by operating cash flow (133.4%).

Interest Coverage: AMD's interest payments on its debt are well covered by EBIT (80.7x coverage).


Balance Sheet


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Dividend

What is Advanced Micro Devices's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Advanced Micro Devices Dividend Yield vs Market
How does Advanced Micro Devices dividend yield compare to the market?
SegmentDividend Yield
Company (Advanced Micro Devices)n/a
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.6%
Industry Average (Semiconductor)2.0%
Analyst forecast in 3 Years (Advanced Micro Devices)0%

Notable Dividend: Unable to evaluate AMD's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate AMD's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if AMD's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AMD's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as AMD has not reported any payouts.


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Management

How experienced are the management team and are they aligned to shareholders interests?

6.4yrs

Average management tenure


CEO

Lisa Su (52 yo)

7.92yrs

Tenure

US$29,498,107

Compensation

Dr. Lisa T. Su, Ph D., has been Independent Director at Cisco Systems, Inc. since January 27, 2020. She serves as Chair at Advanced Micro Devices, Inc since February 2022.Dr. Su has been the Chief Executi...


CEO Compensation Analysis

Lisa Su's Compensation vs Advanced Micro Devices Earnings
How has Lisa Su's remuneration changed compared to Advanced Micro Devices's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 25 2022n/an/a

US$3b

Mar 26 2022n/an/a

US$3b

Dec 25 2021US$29mUS$1m

US$3b

Sep 25 2021n/an/a

US$4b

Jun 26 2021n/an/a

US$3b

Mar 27 2021n/an/a

US$3b

Dec 26 2020US$27mUS$1m

US$2b

Sep 26 2020n/an/a

US$879m

Jun 27 2020n/an/a

US$609m

Mar 28 2020n/an/a

US$487m

Dec 28 2019US$59mUS$1m

US$341m

Sep 28 2019n/an/a

US$209m

Jun 29 2019n/an/a

US$191m

Mar 30 2019n/an/a

US$272m

Dec 29 2018US$13mUS$961k

US$337m

Sep 29 2018n/an/a

US$280m

Jun 30 2018n/an/a

US$239m

Mar 31 2018n/an/a

US$81m

Dec 30 2017US$11mUS$925k

-US$33m

Sep 30 2017n/an/a

-US$65m

Jul 01 2017n/an/a

-US$532m

Apr 01 2017n/an/a

-US$421m

Dec 31 2016US$12mUS$886k

-US$498m

Sep 24 2016n/an/a

-US$548m

Jun 25 2016n/an/a

-US$339m

Mar 26 2016n/an/a

-US$589m

Dec 26 2015US$7mUS$850k

-US$660m

Compensation vs Market: Lisa's total compensation ($USD29.50M) is above average for companies of similar size in the US market ($USD13.05M).

Compensation vs Earnings: Lisa's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: AMD's management team is seasoned and experienced (6.4 years average tenure).


Board Members

Experienced Board: AMD's board of directors are considered experienced (5.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: AMD insiders have only sold shares in the past 3 months.


Recent Insider Transactions

NasdaqGS:AMD Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
05 Aug 22SellUS$4,088,800Forrest NorrodIndividual40,000US$102.22

Ownership Breakdown

What is the ownership structure of AMD?
Owner TypeNumber of SharesOwnership Percentage
Private Companies106,5000.007%
State or Government714,2920.04%
Individual Insiders8,247,0080.5%
General Public525,088,72332.5%
Institutions1,080,164,37766.9%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 33.1%.


Top Shareholders

Top 25 shareholders own 42.09% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
8.28%
The Vanguard Group, Inc.
133,645,149$9.1b0.09%0.21%
7.21%
BlackRock, Inc.
116,372,092$8.0b-2.67%0.2%
4.03%
State Street Global Advisors, Inc.
65,117,714$4.5b-0.7%0.25%
3.32%
T. Rowe Price Group, Inc.
53,555,616$3.7b0.59%0.43%
2.87%
FMR LLC
46,261,504$3.2b6.46%0.3%
1.75%
Geode Capital Management, LLC
28,305,180$1.9b2.44%0.25%
1.7%
J.P. Morgan Asset Management, Inc.
27,373,344$1.9b-5.98%0.35%
1.56%
Fisher Asset Management, LLC
25,143,103$1.7b3.1%1.26%
1.02%
Northern Trust Global Investments
16,507,842$1.1b-3.39%0.23%
0.9%
UBS Asset Management
14,594,025$997.6m-1.02%0.19%
0.9%
BNY Mellon Asset Management
14,531,023$993.3m-5.58%0.22%
0.85%
AllianceBernstein L.P.
13,646,800$932.9m6.76%0.38%
0.81%
Artisan Partners Limited Partnership
13,038,483$891.3m6.44%0.9%
0.75%
Legal & General Investment Management Limited
12,152,174$830.7m4.31%0.25%
0.75%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
12,120,241$828.5m-8.27%0.28%
0.74%
Wellington Management Group LLP
11,889,497$812.8m-32.6%0.15%
0.68%
American Century Investment Management Inc
10,992,048$751.4m19.42%0.55%
0.61%
Norges Bank Investment Management
9,889,729$676.1m0%0.09%
0.53%
Janus Henderson Group plc
8,533,127$583.3m9.8%0.33%
0.51%
Invesco Ltd.
8,161,649$557.9m-5.94%0.19%
0.5%
Charles Schwab Investment Management, Inc.
8,110,314$554.4m0.3%0.15%
0.49%
Columbia Management Investment Advisers, LLC
7,965,017$544.5m57.66%0.16%
0.46%
Morgan Stanley, Investment Banking and Brokerage Investments
7,425,640$507.6m-24.13%0.1%
0.44%
Swiss National Bank, Asset Management Arm
7,091,568$484.8m0.15%0.32%
0.44%
Capital Research and Management Company
7,062,537$482.8m-28.42%0.03%

Company Information

Advanced Micro Devices, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Advanced Micro Devices, Inc.
  • Ticker: AMD
  • Exchange: NasdaqGS
  • Founded: 1969
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Implied Market Cap: US$110.355b
  • Shares outstanding: 1.61b
  • Website: https://www.amd.com

Number of Employees


Location

  • Advanced Micro Devices, Inc.
  • 2485 Augustine Drive
  • Santa Clara
  • California
  • 95054
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AMDNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDDec 1972
AMDDB (Deutsche Boerse AG)YesCommon StockDEEURDec 1972
AMDXTRA (XETRA Trading Platform)YesCommon StockDEEURDec 1972
AMD *BMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNDec 1972
AMD-UETLX (Eurotlx)YesCommon StockITEURDec 1972
AMDSWX (SIX Swiss Exchange)YesCommon StockCHCHFDec 1972
0QZDLSE (London Stock Exchange)YesCommon StockGBUSDDec 1972
AMDWBAG (Wiener Boerse AG)YesCommon StockATEURDec 1972
AMDUKR (PFTS Ukraine Stock Exchange)YesCommon StockUAUAHDec 1972
AMDBUL (Bulgaria Stock Exchange)YesCommon StockBGEURDec 1972
AMD_KZKAS (Kazakhstan Stock Exchange)YesCommon StockKZUSDDec 1972
AMDBASE (Buenos Aires Stock Exchange)CEDEARS (EACH 1 REP 2 COM USD0.01)ARARSApr 2019
AMDDBASE (Buenos Aires Stock Exchange)CEDEARS (EACH 1 REP 2 COM USD0.01)ARUSDApr 2019
A1MD34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH REPR 1 COMBRBRLDec 2019
AMDNEOE (Aequitas Neo Exchange)ADVANCED MICRO DEVICES CDR CAD HEDGEDCACADDec 2021
AMD0DB (Deutsche Boerse AG)ADVANCED MICRO DEVICES CDR CAD HEDGEDDEEURDec 2021

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/25
Annual Earnings2021/12/25


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.