Advanced Micro Devices key statistics and ratios
In fiscal 2025, Advanced Micro Devices had return on equity of 7.2% and a net margin of 12.5%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.
Financial ratios
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net margin | 5.6% | 7.3% | 7.5% | −21.8% | −1.6% | −7.3% | −16.5% | −11.5% | −0.6% | 5.2% | 5.1% | 25.5% | 19.2% | 5.6% | 3.8% | 6.4% | 12.5% | 15.6% |
| Return on equity | 46.9% | 56.7% | 37.7% | −111.2% | −15.3% | −110.3% | — | — | −6.2% | 36.2% | 16.7% | 57.5% | 47.4% | 4.2% | 1.5% | 2.9% | 7.2% | 9.9% |
| Return on assets | 3.3% | 6.7% | 9.9% | −26.4% | −2.0% | −9.9% | −19.3% | −15.6% | −1.0% | 8.3% | 6.4% | 33.2% | 29.6% | 3.3% | 1.3% | 2.4% | 5.9% | 8.0% |
| Effective tax rate | 27.5% | 7.5% | −0.8% | — | — | — | — | — | — | −2.7% | 8.3% | — | 14.0% | −10.2% | — | 18.8% | −2.5% | 14.5% |
| R&D as % of revenue | 31.9% | 21.6% | 22.1% | 25.0% | 22.7% | 19.5% | 23.7% | 23.3% | 22.8% | 22.1% | 23.0% | 20.3% | 17.3% | 21.2% | 25.9% | 25.0% | 23.4% | 22.7% |
| SG&A as % of revenue | 18.4% | 14.4% | 15.1% | 15.2% | 12.7% | 11.0% | 12.1% | 10.8% | 9.8% | 8.7% | 11.1% | 10.2% | 8.8% | 9.9% | 10.2% | 10.6% | 12.0% | 11.9% |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Net margin | 11.3% | 6.3% | 9.5% | 11.3% | 13.4% | 14.7% | 13.5% | 19.9% |
| R&D as % of revenue | 24.0% | 22.4% | 23.2% | 24.6% | 23.1% | 22.7% | 23.4% | 21.9% |
| SG&A as % of revenue | 10.4% | 10.2% | 11.9% | 12.9% | 11.6% | 11.7% | 12.2% | 12.1% |
Financial health
- Short-term assets cover short-term liabilities $31.5bn of assets due within a year against $12.1bn of liabilities due within a year.
- Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
- More cash than debt $5.1bn of cash against $3.2bn of debt.
- Debt below 40% of shareholders' equity Debt is 5% of equity.
- Debt burden no higher than five years ago Debt to equity moved from 0% to 5% over five years.
- A year's operating cash flow covers at least 20% of debt $10.1bn of operating cash flow against $3.2bn of debt.
- Operating profit covers interest at least five times over Operating income of $6.5bn against $147m of interest.
Moat
Moderate moat
How hard Advanced Micro Devices's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
- Returns on capital 20 / 20
Cash operating profit has been a median 18.4% of total assets over 10 years.
- Pricing power 10 / 20
Gross margin has been a median 45.0%, moving by 7.6 percentage points (standard deviation) across 10 years.
- Durability 1 / 20
Operating margin has been a median 6.2%; its worst year was -6.0%.
- Cash conversion 12 / 20
Free cash flow was positive in 8 of 10 years, at a median 8.3% of revenue.
- Discipline 9 / 20
The diluted share count rose 34.5% over five years; stock-based pay has been a median 3.1% of revenue.
AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.
Compare with peers
- Qualcomm statistics
- Intel statistics
- Texas Instruments statistics
- ASE Technology Holding Co., Ltd. statistics
- Broadcom statistics
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