Earnings quality
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Advanced Micro Devices, Inc.
Ticker AMD · 🇺🇸 United States · Consolidated US GAAP · amounts in dollars
Filed 2026-02-04 · Period end 2025-12-27
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 10.7%; equity ratio is 81.9%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin10.7%
Equity ratio81.9%
Last priceUSD 488.78
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
ADVANCED MICRO DEVICES, INC is a US-listed company with consolidated financial statements filed on SEC EDGAR.
Compare trends
Tel (408) 749-4000 · As of filing date 2026-02-04
Financial statements
Income statement
| Account | FY2024 (ended Dec 28, 2024) | FY2025 (ended Dec 27, 2025) |
|---|---|---|
| Revenue | $25.8B | $34.6B |
| Cost of sales* | $13.1B | $17.5B |
| Gross profit | $12.7B | $17.2B |
| Operating profit | $1.9B | $3.7B |
| Income tax | $381.0M | -$103.0M |
| Net income | $1.6B | $4.3B |
| Basic EPS | — | — |
Balance sheet
| Account | FY2024 (ended Dec 28, 2024) | FY2025 (ended Dec 27, 2025) |
|---|---|---|
| Cash & equivalents | $3.8B | $5.5B |
| Current assets | $19.0B | $26.9B |
| Non-current assets* | $50.2B | $50.0B |
| Total assets | $69.2B | $76.9B |
| Current liabilities | $7.3B | $9.5B |
| Non-current liabilities* | — | — |
| Total liabilities | — | — |
| Stockholders’ equity | $57.6B | $63.0B |
Cash flow statement
| Account | FY2024 (ended Dec 28, 2024) | FY2025 (ended Dec 27, 2025) |
|---|---|---|
| Operating cash flow | $3.0B | $7.7B |
| Investing cash flow | -$1.1B | -$5.5B |
| Financing cash flow | -$2.1B | -$431.0M |
| Cash at end of period | $3.8B | $5.5B |
Five-year trends
Key metrics
| Metric | Trend | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $16.4B | $23.6B | $22.7B | $25.8B | $34.6B | |
| Operating profit | $3.6B | $1.3B | $401.0M | $1.9B | $3.7B | |
| Net income | $3.2B | $1.3B | $854.0M | $1.6B | $4.3B | |
| Total assets | $12.4B | $67.6B | $67.9B | $69.2B | $76.9B | |
| Cash & equivalents | $2.5B | $4.8B | $3.9B | $3.8B | $5.5B | |
| Stockholders’ equity | $7.5B | $54.8B | $55.9B | $57.6B | $63.0B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Constructive
Sales and operating profit both moved in a healthier direction.
On the income statement, revenue moved from $25.8B to $34.6B (▲ +34.3%). Operating profit went from $1.9B to $3.7B (▲ +94.4%).
Operating cash flow was $7.7B (prior $3.0B), with cash on the balance sheet at $5.5B versus $3.8B.
Liquidity & leverage
Cash moved from $3.8B to $5.5B; current liabilities $9.5B.
Capital buffer
Stockholders’ equity moved from $57.6B to $63.0B.
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Source: SEC EDGAR 0000002488-26-000021
(ADVANCED MICRO DEVICES, INC), period end 2025-12-27.