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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AMD and 9 peers, year by year

The 9 Technology companies closest to AMD in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
AMD Advanced Micro Devices	FY2025	$34.6B	+34.3%	49.5%	10.7%	12.5%	19.4%	6.9%	0.07
CRM Salesforce	FY2025	$41.5B	+9.6%	77.7%	20.1%	18.0%	34.7%	12.6%	0.24
QCOM Qualcomm	FY2026	$43.1B	−2.6%	-	20.1%	31.6%	20.1%	44.8%	0.43
HPE Hewlett Packard Enterprise	FY2025	$34.3B	+13.8%	-	−1.3%	0.2%	1.8%	0.2%	1.07
SMCI Supermicro	FY2026	$39.1B	+77.8%	10.8%	7.1%	5.7%	−17.8%	15.4%	0.28
JBL Jabil	FY2026	$36.0B	+20.6%	9.2%	4.7%	2.9%	3.8%	64.6%	2.09
APH Amphenol	FY2025	$23.1B	+51.7%	36.9%	25.4%	18.5%	19.0%	31.8%	1.16
HPQ HP Inc.	FY2025	$55.3B	+3.2%	20.6%	5.7%	4.6%	5.1%	n/m	n/m
INTC Intel	FY2025	$52.9B	−0.5%	34.8%	−4.2%	−0.5%	−9.4%	−0.2%	0.41
FLEX Flex Ltd.	FY2026	$27.9B	+8.1%	9.2%	4.9%	3.2%	3.8%	17.1%	0.73

Revenuepeer median $39.1B

Sales growthpeer median +9.6%

Gross marginpeer median 20.6%

Operating marginpeer median 5.7%

Net marginpeer median 4.6%

FCF marginpeer median 3.8%

Return on equitypeer median 16.3%

Debt / equitypeer median 0.58

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2016 to FY2025

Revenue as reported in the 10-K.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AMD Dec	$4.3B	$5.3B	$6.5B	$6.7B	$9.8B	$16.4B	$23.6B	$22.7B	$25.8B	$34.6B
CRM Jan	$6.7B	$8.4B	$10.5B	$13.3B	$17.1B	$21.3B	$26.5B	$31.4B	$34.9B	$41.5B
QCOM Sep	$23.6B	$22.3B	$22.6B	$24.3B	$23.5B	$33.6B	$44.2B	$35.8B	$39.0B	$44.3B
HPE Oct	$30.3B	$28.9B	$30.9B	$29.1B	$27.0B	$27.8B	$28.5B	$29.1B	$30.1B	$34.3B
SMCI Jun	$2.2B	$2.5B	$3.4B	$3.5B	$3.3B	$3.6B	$5.2B	$7.1B	$15.0B	$22.0B
JBL Aug	$18.4B	$19.1B	$22.1B	$25.3B	$27.3B	$29.3B	$33.5B	$34.7B	$28.9B	$29.8B
APH Dec	$6.3B	$7.0B	$8.2B	$8.2B	$8.6B	$10.9B	$12.6B	$12.6B	$15.2B	$23.1B
HPQ Oct	$48.2B	$52.1B	$58.5B	$58.8B	$56.6B	$63.5B	$62.9B	$53.7B	$53.6B	$55.3B
INTC Dec	$59.4B	$62.8B	$70.8B	$72.0B	$77.9B	$79.0B	$63.1B	$54.2B	$53.1B	$52.9B
FLEX Mar	$24.4B	$23.9B	$25.4B	$26.2B	$24.2B	$24.1B	$24.6B	$28.5B	$26.4B	$25.8B
Peer median	$23.6B	$22.3B	$22.6B	$25.3B	$24.2B	$27.8B	$28.5B	$31.4B	$30.1B	$34.3B

Sales growth, FY2016 to FY2025

Revenue against the fiscal year before.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AMD Dec	+7.0%	+21.6%	+23.3%	+4.0%	+45.0%	+68.3%	+43.6%	−3.9%	+13.7%	+34.3%
CRM Jan	-	+25.9%	+24.9%	+26.0%	+28.7%	+24.3%	+24.7%	+18.3%	+11.2%	+9.6%
QCOM Sep	-	−5.4%	+1.6%	+7.4%	−3.1%	+42.6%	+31.7%	−19.0%	+8.8%	+13.7%
HPE Oct	−2.6%	−4.7%	+6.9%	−5.6%	−7.4%	+3.0%	+2.6%	+2.2%	+3.4%	+13.8%
SMCI Jun	-	+11.7%	+35.2%	+4.2%	−4.6%	+6.5%	+46.1%	+37.1%	+110%	+46.6%
JBL Aug	-	+3.9%	+15.9%	+14.4%	+7.8%	+7.4%	+14.3%	+3.7%	−16.8%	+3.2%
APH Dec	-	+11.5%	+17.0%	+0.3%	+4.5%	+26.5%	+16.1%	−0.5%	+21.3%	+51.7%
HPQ Oct	−6.3%	+7.9%	+12.3%	+0.5%	−3.6%	+12.0%	−0.9%	−14.6%	−0.3%	+3.2%
INTC Dec	+7.3%	+5.7%	+12.9%	+1.6%	+8.2%	+1.5%	−20.2%	−14.0%	−2.1%	−0.5%
FLEX Mar	-	−2.3%	+6.6%	+3.0%	−7.6%	−0.4%	+7.9%	+15.7%	−7.3%	−2.3%
Peer median	−2.6%	+5.7%	+12.9%	+3.0%	−3.1%	+7.4%	+14.3%	+2.2%	+3.4%	+9.6%

Gross margin, FY2016 to FY2025

Gross profit / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AMD Dec	23.2%	33.5%	37.8%	42.6%	44.5%	48.2%	44.9%	46.1%	49.4%	49.5%
CRM Jan	75.2%	73.5%	73.7%	74.0%	75.2%	74.4%	73.5%	73.3%	75.5%	77.7%
QCOM Sep	-	-	-	-	-	-	-	-	-	-
HPE Oct	-	-	-	-	-	-	-	-	-	-
SMCI Jun	14.9%	14.1%	12.8%	14.2%	15.8%	15.0%	15.4%	18.0%	13.8%	11.1%
JBL Aug	8.3%	8.1%	7.7%	7.6%	7.1%	8.1%	7.9%	8.3%	9.3%	8.9%
APH Dec	32.5%	32.9%	32.4%	31.8%	31.0%	31.3%	31.9%	32.5%	33.8%	36.9%
HPQ Oct	-	-	-	-	-	-	19.5%	21.4%	22.1%	20.6%
INTC Dec	61.0%	62.3%	61.7%	58.6%	56.0%	55.4%	42.6%	40.0%	32.7%	34.8%
FLEX Mar	6.6%	6.4%	6.3%	5.8%	5.5%	7.0%	7.2%	6.9%	7.1%	8.4%
Peer median	23.7%	23.5%	22.6%	23.0%	23.4%	23.2%	19.5%	21.4%	22.1%	20.6%

Operating margin, FY2016 to FY2025

Operating income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AMD Dec	−8.6%	2.4%	7.0%	9.4%	14.0%	22.2%	5.4%	1.8%	7.4%	10.7%
CRM Jan	1.7%	2.6%	4.3%	4.0%	1.7%	2.1%	2.1%	3.3%	14.4%	20.1%
QCOM Sep	27.6%	11.6%	2.7%	31.6%	26.6%	29.2%	35.9%	21.7%	25.8%	27.9%
HPE Oct	12.9%	2.0%	5.6%	4.4%	−1.2%	4.1%	2.7%	7.2%	7.3%	−1.3%
SMCI Jun	4.8%	3.8%	2.8%	2.8%	2.6%	3.5%	6.5%	10.7%	8.1%	5.7%
JBL Aug	2.8%	2.2%	2.5%	2.8%	1.8%	3.6%	4.2%	4.4%	7.0%	4.0%
APH Dec	19.2%	20.4%	20.6%	19.7%	19.1%	19.4%	20.5%	20.4%	20.7%	25.4%
HPQ Oct	7.4%	6.5%	6.6%	6.6%	6.1%	8.4%	7.2%	6.4%	7.1%	5.7%
INTC Dec	22.1%	28.8%	32.9%	30.6%	30.4%	24.6%	3.7%	0.2%	−22.0%	−4.2%
FLEX Mar	-	-	-	-	1.7%	3.3%	3.6%	3.6%	3.2%	4.5%
Peer median	10.1%	5.1%	5.0%	5.5%	2.6%	4.1%	4.2%	6.4%	7.3%	5.7%

Net margin, FY2016 to FY2025

Net income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AMD Dec	−11.5%	−0.6%	5.2%	5.1%	25.5%	19.2%	5.6%	3.8%	6.4%	12.5%
CRM Jan	−0.7%	3.8%	3.4%	8.4%	0.7%	19.2%	5.5%	0.7%	11.9%	18.0%
QCOM Sep	24.2%	11.0%	−22.0%	18.1%	22.1%	26.9%	29.3%	20.2%	26.0%	12.5%
HPE Oct	10.4%	1.2%	6.2%	3.6%	−1.2%	12.3%	3.0%	7.0%	8.6%	0.2%
SMCI Jun	3.2%	2.7%	1.4%	2.1%	2.5%	3.1%	5.5%	9.0%	7.7%	4.8%
JBL Aug	1.4%	0.7%	0.4%	1.1%	0.2%	2.4%	3.0%	2.4%	4.8%	2.2%
APH Dec	13.1%	9.3%	14.7%	14.0%	14.0%	14.6%	15.1%	15.4%	15.9%	18.5%
HPQ Oct	5.2%	4.9%	9.1%	5.4%	5.0%	10.3%	5.0%	6.1%	5.2%	4.6%
INTC Dec	17.4%	15.3%	29.7%	29.2%	26.8%	25.1%	12.7%	3.1%	−35.3%	−0.5%
FLEX Mar	1.8%	1.3%	1.7%	0.4%	0.4%	2.5%	3.8%	2.8%	3.8%	3.2%
Peer median	5.2%	3.8%	3.4%	5.4%	2.5%	12.3%	5.5%	6.1%	7.7%	4.6%

Free cash flow, FY2016 to FY2025

Cash from operations minus capital spending.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AMD Dec	$4.0M	−$101.0M	−$129.0M	$276.0M	$777.0M	$3.2B	$3.1B	$1.1B	$2.4B	$6.7B
CRM Jan	$1.4B	$1.7B	$2.2B	$2.8B	$3.7B	$4.1B	$5.3B	$6.3B	$9.5B	$14.4B
QCOM Sep	$7.1B	$4.3B	$3.1B	$6.4B	$4.4B	$8.6B	$6.8B	$9.8B	$11.2B	$12.8B
HPE Oct	$1.8B	−$1.8B	$8.0M	$1.1B	−$143.0M	$3.4B	$1.5B	$1.6B	$2.0B	$627.0M
SMCI Jun	$73.9M	−$125.6M	$59.5M	$237.7M	−$74.7M	$64.9M	−$486.0M	$626.8M	−$2.6B	$1.5B
JBL Aug	−$8.0M	−$2.2B	−$2.1B	$188.0M	$274.0M	$274.0M	$266.0M	$704.0M	$932.0M	$1.2B
APH Dec	$886.8M	$917.6M	$802.1M	$1.2B	$1.3B	$1.2B	$1.8B	$2.2B	$2.1B	$4.4B
HPQ Oct	$2.8B	$3.3B	$4.0B	$4.0B	$3.7B	$5.8B	$3.7B	$3.0B	$3.2B	$2.8B
INTC Dec	$12.2B	$10.3B	$14.3B	$16.9B	$21.6B	$10.7B	−$9.4B	−$14.3B	−$15.7B	−$4.9B
FLEX Mar	$625.8M	−$4.3B	−$4.4B	−$3.7B	−$2.0B	−$207.0M	$581.0M	$315.0M	$796.0M	$1.1B
Peer median	$1.4B	$917.6M	$802.1M	$1.2B	$1.3B	$3.4B	$1.5B	$1.6B	$2.0B	$1.5B

FCF margin, FY2016 to FY2025

Free cash flow / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AMD Dec	0.1%	−1.9%	−2.0%	4.1%	8.0%	19.6%	13.2%	4.9%	9.3%	19.4%
CRM Jan	20.8%	20.1%	20.9%	21.1%	21.6%	19.2%	19.9%	20.1%	27.2%	34.7%
QCOM Sep	30.1%	19.4%	13.8%	26.4%	18.7%	25.8%	15.5%	27.5%	28.6%	28.9%
HPE Oct	5.9%	−6.2%	0.0%	3.9%	−0.5%	12.1%	5.2%	5.5%	6.6%	1.8%
SMCI Jun	3.3%	−5.1%	1.8%	6.8%	−2.2%	1.8%	−9.4%	8.8%	−17.4%	7.0%
JBL Aug	0.0%	−11.4%	−9.7%	0.7%	1.0%	0.9%	0.8%	2.0%	3.2%	3.9%
APH Dec	14.1%	13.1%	9.8%	14.7%	15.3%	10.8%	14.2%	17.2%	14.1%	19.0%
HPQ Oct	5.8%	6.3%	6.8%	6.8%	6.6%	9.2%	5.9%	5.5%	5.9%	5.1%
INTC Dec	20.5%	16.5%	20.1%	23.5%	27.7%	13.6%	−14.9%	−26.3%	−29.5%	−9.4%
FLEX Mar	2.6%	−18.2%	−17.4%	−14.1%	−8.2%	−0.9%	2.4%	1.1%	3.0%	4.1%
Peer median	5.9%	6.3%	6.8%	6.8%	6.6%	10.8%	5.2%	5.5%	5.9%	5.1%

Return on equity, FY2016 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AMD Dec	−104.4%	−5.5%	26.6%	12.1%	42.7%	42.2%	2.4%	1.5%	2.9%	6.9%
CRM Jan	−0.9%	3.9%	3.5%	7.1%	0.4%	9.8%	2.5%	0.4%	6.9%	12.6%
QCOM Sep	18.0%	8.0%	n/m	89.3%	85.5%	90.9%	71.8%	33.5%	38.6%	26.1%
HPE Oct	10.1%	1.5%	9.0%	6.1%	−2.0%	17.2%	4.4%	9.6%	10.4%	0.2%
SMCI Jun	10.3%	8.6%	5.5%	7.6%	7.9%	10.2%	20.0%	32.5%	21.3%	16.6%
JBL Aug	10.4%	5.5%	4.4%	15.2%	3.0%	32.6%	40.6%	28.5%	79.9%	43.4%
APH Dec	22.4%	16.3%	30.0%	25.5%	22.3%	25.2%	27.1%	23.1%	24.8%	31.8%
HPQ Oct	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m
INTC Dec	15.6%	13.8%	28.2%	27.2%	25.8%	20.8%	7.9%	1.6%	−18.9%	−0.2%
FLEX Mar	17.3%	12.1%	14.2%	3.1%	3.1%	17.8%	22.7%	14.8%	18.9%	16.8%
Peer median	13.0%	8.3%	9.0%	11.4%	5.5%	19.3%	21.3%	19.0%	20.1%	16.7%

Debt / equity, FY2016 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AMD Dec	3.01	2.46	1.09	0.17	0.06	0.04	0.05	0.06	0.03	0.07
CRM Jan	-	0.24	0.17	0.20	0.08	0.06	0.18	0.18	0.16	0.24
QCOM Sep	0.37	0.66	n/m	2.84	2.59	1.43	0.78	0.67	0.51	0.70
HPE Oct	0.50	0.58	0.55	0.79	1.04	0.71	0.65	0.62	0.90	1.07
SMCI Jun	0.13	0.21	0.14	0.03	0.03	0.09	0.42	0.15	0.09	0.02
JBL Aug	0.85	0.87	1.29	1.32	1.51	1.35	1.17	1.00	1.66	1.91
APH Dec	0.82	0.89	0.89	0.80	0.72	0.76	0.65	0.52	0.70	1.16
HPQ Oct	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m
INTC Dec	0.38	0.38	0.35	0.37	0.45	0.40	0.41	0.47	0.50	0.41
FLEX Mar	1.09	1.12	0.98	1.03	1.01	1.11	1.02	0.69	0.61	0.74
Peer median	0.50	0.62	0.55	0.79	0.86	0.74	0.65	0.57	0.56	0.72

EPS (diluted), FY2016 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AMD Dec	−$0.60	−$0.03	$0.32	$0.30	$2.06	$2.57	$0.84	$0.53	$1.00	$2.65
CRM Jan	−$0.07	$0.46	$0.49	$1.43	$0.15	$4.38	$1.48	$0.21	$4.20	$7.80
QCOM Sep	$3.81	$1.64	−$3.39	$3.59	$4.52	$7.87	$11.37	$6.42	$8.97	$5.01
HPE Oct	$1.82	$0.21	$1.23	$0.77	−$0.25	$2.58	$0.66	$1.54	$1.93	−$0.04
SMCI Jun	$0.14	$0.13	$0.09	$0.14	$0.16	$0.21	$0.53	$1.14	$1.92	$1.68
JBL Aug	$1.32	$0.69	$0.49	$1.81	$0.35	$4.58	$6.90	$6.02	$11.17	$5.92
APH Dec	$0.33	$0.26	$0.48	$0.47	$0.49	$0.64	$0.77	$0.78	$0.96	$1.67
HPQ Oct	$1.43	$1.48	$3.26	$2.07	$1.98	$5.36	$2.98	$3.26	$2.81	$2.65
INTC Dec	$2.12	$1.99	$4.48	$4.71	$4.94	$4.86	$1.94	$0.40	−$4.38	−$0.06
FLEX Mar	$0.79	$0.59	$0.80	$0.18	$0.17	$1.21	$1.94	$1.72	$2.28	$2.11
Peer median	$1.32	$0.59	$0.49	$1.43	$0.35	$4.38	$1.94	$1.54	$2.28	$2.11

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out AMD and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

Work on AMD in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/AMD/export.csv") into a cell.