AMDAdvanced Micro Devices

Technology · Semiconductors · Nasdaq

The statements in this report include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 10-K, Item 1

Employees: 31,000
Headquarters: Santa Clara, CA
CEO: Lisa T. Su
Next results: around Feb 2, 2027

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RevenueFY2016–25 $34.6B+34.3% Highest in 10 years 10-K FY2025 · XBRL Net incomeFY2016–25 $4.3B+164.2% Highest in 10 years 10-K FY2025 · XBRL Free cash flowFY2016–25 $6.7B+180.0% Highest in 10 years 10-K FY2025 · XBRL Operating marginFY2016–25 10.7%+3.3 pts -8.6% in FY2016 10-K FY2025 · XBRL

What changed

10-K filed Feb 4, 2026 against Feb 5, 2025

Area	What changed	Source
Risk factors	13 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Critical audit matters changed	New this year: Table of Conten t s (“At December 27, 2025, the Company’s net inventory balance was $7,920 million. As discussed in Note 2 to the consolidated financial statements, the Company adjusts the inventory carrying value to the lower of actual cost or the estimated net realizable value after completing ongoing reviews of on-han”). Same as last year: Inventory Valuation	10-K · XBRL
Accounting checks	10 other checks clear, 1 worth a look	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	2 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 4, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-05. Quoted as filed.

Competition is expected to remain intense, driven by rapid technological change, evolving standards, shifting customer preferences, product obsolescence, and frequent product launches from both established and new competitors. Some of our competitors may possess stronger market positions, larger customer bases, more design wins, and…
10-K, Item 1A

All 13 new paragraphs →

Accounting checks

latest 10-K

10 of 11 clear 1 worth a look. Checks, not verdicts.

!
Critical audit matters changedNew this year: Table of Conten t s (“At December 27, 2025, the Company’s net inventory balance was $7,920 million. As discussed in Note 2 to the consolidated financial statements, the Company adjusts the inventory carrying value to the lower of actual cost or the estimated net realizable value after completing ongoing reviews of on-han”). Same as last year: Inventory Valuation
✓
Receivables +2.0% vs revenue +34.3% (-32.4 pts)
✓
Cash from operations $7.7B vs net income $4.3B (FY ending 2025-12-27)
✓
Inventory +38.1% vs revenue +34.3% (+3.8 pts)
✓
Same auditor in both 10-Ks: Ernst & Young LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Nov 4, 202610-Q Quarterly report (10-Q) period ended Sep 26, 2026
Nov 3, 20268-K Quarterly results, Regulation FD disclosure 8-K items 2.02, 7.01

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