Information Technology · Semiconductors · US stock · price as of 22 Oct 2026
Key indicators
Price
$507.93
52-week range
$188.22 – $658.52
Market cap
$842.7B
P/E (trailing)
130.0×
EV / EBITDA
128.4×
Free-cash-flow yield
1.0%
Dividend yield
–
Revenue (last 12 months)
$41.3B
Revenue growth (3y a year)
13.6%
Operating margin
15.7%
Return on invested capital
9.7%
Net debt / EBITDA
-1.5×
Fair value
Fair value (average of valid models)$403.01 middle half of models $376 – $452
Versus priceOvervalued−21% to fair value
P/E multiple
$478.70
P/B multiple
$316.67
P/S multiple
$356.28
EV/EBITDA multiple
$403.36
EV/EBIT multiple
$379.74
EV/revenue multiple
$396.91
10-year DCF, EBITDA exit
$375.38
5-year DCF, EBITDA exit
$474.29
10-year DCF, revenue exit
$380.36
5-year DCF, revenue exit
$468.41
Model uncertainty
High
X-Ray Score
48/ 100 · High confidence · ahead of 41% of sector peers
Valuation12
Growth80
Profitability33
Financial health81
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Advanced Micro Devices designs semiconductors, including central processors, graphics processors and adaptive chips. Its products power personal computers, game consoles, cloud servers and data centre accelerators used for artificial intelligence, as well as embedded systems in industrial and communications equipment. It does not run its own chip fabrication, relying on contract manufacturers. Customers include PC makers, cloud providers, console makers and other technology companies.
The company earns money from supplying chips and related software to those customers. Revenue was $41.3 billion over the last twelve months, with growth of 13.6% a year across the last three years. The operating margin is 15.7%, and the business earns a profit of 10% on the capital invested in it. Net debt is -1.5 times EBITDA, meaning it holds more cash than debt. No dividend is paid.
StocksXray gives Advanced Micro Devices Inc an X-Ray Score of 48 out of 100 (high confidence), ahead of 41% of the S&P 500 stocks in its sector. Its strongest lens is financial health (81) and its weakest is valuation (12).
Our fair value (the average of the valid models) is $403.01 (range $376.47 to $452.15). At $507.93 the stock trades 26% above that value, so the label is "Overvalued" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Advanced Micro Devices Inc (AMD)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$146.14
$64.77
$147.41
$125.19
$214.99
$507.93
Market cap
$179.6B
$101.8B
$239.5B
$204.9B
$351.7B
$842.7B
P/E
56.9×
77.1×
278.1×
125.2×
81.1×
130.0×
EV / revenue
10.7×
4.2×
10.4×
7.8×
10.0×
20.2×
EV / EBITDA
48.3×
77.8×
591.0×
106.1×
93.5×
128.4×
Price / free cash flow
55.8×
32.7×
213.7×
85.2×
52.2×
100.3×
Free-cash-flow yield
1.8%
3.1%
0.5%
1.2%
1.9%
1.0%
Price / book
24.0×
1.9×
4.3×
3.6×
5.6×
12.5×
Dividend yield
–
–
–
–
–
–
Fundamentals checklist ● 7 Good · ● 5 Average · ● 4 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−4.3%Average
Free-cash-flow yield1.0%Bad
Risk models
Altman Z score6.3×Good
Piotroski F-Score8 of 9Good
Growth
EPS growth (3y)46.7%Good
Free-cash-flow growth (3y)29.3%Good
Revenue growth (3y)13.6%Average
Growth consistency100%Good
Balance sheet
Current ratio2.6×Good
Net debt / EBITDA-1.5×Good
Interest cover44.1×Average
Valuation
Fair value vs price0.8×Bad
EBIT / EV yield0.8%Bad
Profitability
Return on invested capital9.7%Bad
Operating margin15.7%Average
Gross profitability26.0%Average
XStocksXray
Advanced Micro Devices Inc (AMD)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
16,434
23,601
22,680
25,785
34,639
41,305
Gross profit
7,929
10,603
10,460
12,725
17,152
21,976
Operating income
3,648
1,264
401
1,900
3,694
6,488
Net income
3,162
1,320
854
1,641
4,335
6,434
Diluted EPS ($)
2.57
0.84
0.53
1.00
2.65
3.91
Free cash flow
3,220
3,115
1,121
2,405
6,735
8,403
Gross margin
48.2%
44.9%
46.1%
49.4%
49.5%
53.2%
Operating margin
22.2%
5.4%
1.8%
7.4%
10.7%
15.7%
Net margin
19.2%
5.6%
3.8%
6.4%
12.5%
15.6%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
12,419
67,580
67,885
69,226
76,926
84,464
Cash
2,535
4,835
3,933
3,787
5,539
5,086
Total debt
313
2,467
3,219
1,721
4,096
3,226
Equity
7,497
54,750
55,892
57,568
62,999
67,224
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
