AMD Balance Sheet - Advanced Micro Devices Inc

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Price: 445 EUR -3.05%

Market Cap: €726.5B

Financial profile · Q3 FY2026

An expanding semiconductor model with operating leverage and rising cash requirements

AMD pairs rapid, uneven growth and variable reported margins with research spending that substantially exceeds physical capital investment. Free cash flow has remained positive throughout the supplied annual history, although working-capital absorption makes cash conversion uneven.

What is developing

The latest quarter extended operating-margin expansion but brought a sharp drop in cash conversion as inventory and capacity investment supported the Data Center ramp. Positive trailing free cash flow indicates a more cash-demanding growth phase rather than a demonstrated break in the financial model.

What matters next

Whether inventory and receivable growth moderate enough for operating cash flow to catch up with earnings while capacity investment continues.

Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Cash & Cash Equivalents	1.3B	1.2B	1.1B	1.5B	1.6B	2.5B	4.8B	3.9B	3.8B	5.5B
Cash Equivalents	1.3B	1.2B	1.1B	1.5B	1.6B	2.5B	4.8B	3.9B	3.8B	5.5B
Short-Term Investments	—	—	78m	37m	695m	1.1B	1B	1.8B	1.3B	5B
Total Receivables	311m	454m	1.2B	1.9B	2.1B	2.7B	4.1B	5.4B	6.3B	6.3B
Accounts Receivables	311m	454m	1.2B	1.9B	2.1B	2.7B	4.1B	5.4B	6.2B	6.3B
Other Receivables	0	0	0	0	0	0	2m	9m	113m	0
Inventory	751m	694m	845m	982m	1.4B	2B	3.8B	4.4B	5.7B	7.9B
Other Current Assets	204m	301m	304m	253m	388m	314m	1.3B	1.3B	1.9B	2.2B
Total Current Assets	2.5B	2.6B	3.5B	4.6B	6.1B	8.6B	15B	16.8B	19B	26.9B
PP&E Net	164m	261m	348m	705m	849m	1.1B	2B	2.2B	2.4B	2.3B
PP&E Gross	164m	261m	348m	705m	849m	1.1B	2B	2.2B	2.4B	2.3B
Accumulated Depreciation	(717m)	(740m)	(707m)	(768m)	(912m)	(1.1B)	(1.5B)	(1.8B)	(2.2B)	(2.6B)
Intangible Assets	232m	239m	226m	210m	229m	328m	24.5B	21.4B	18.9B	16.7B
Goodwill	289m	289m	289m	289m	289m	289m	24.2B	24.3B	24.8B	25.1B
Long-Term Investments	59m	58m	58m	58m	63m	69m	83m	99m	149m	176m
Other Long-Term Assets	47m	71m	95m	169m	1.4B	2.1B	1.8B	3.2B	3.8B	5.7B
Other Assets	289m	289m	289m	289m	289m	289m	24.2B	24.3B	24.8B	25.1B
Total Assets	3.3B	3.6B	4.6B	6B	9B	12.4B	67.6B	67.9B	69.2B	76.9B
Accounts Payable	823m	796m	1B	1.2B	546m	1.4B	3B	2.4B	2.5B	2.9B
Accrued Liabilities	367m	514m	755m	1.1B	1.8B	2.5B	2.3B	2.6B	3B	4.2B
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Current Portion of Long-Term Debt	0	70m	136m	0	—	312m	0	751m	0	874m
Other Current Liabilities	156m	133m	52m	31m	34m	27m	1.1B	876m	1.8B	1.4B
Deferred Revenue	63m	—	11m	2m	15m	—	—	—	—	—
Total Current Liabilities	1.3B	1.5B	2B	2.4B	2.4B	4.2B	6.4B	6.7B	7.3B	9.5B
Long-Term Debt	1.4B	1.3B	1.1B	486m	330m	1m	2.5B	1.7B	1.7B	2.3B
Deferred Income Tax	—	—	—	11m	11m	12m	1.9B	1.2B	349m	313m
Other Liabilities	124m	118m	192m	345m	367m	669m	2.1B	2.4B	2.3B	1.8B
Total Liabilities	2.9B	3B	3.3B	3.2B	3.1B	4.9B	12.8B	12B	11.7B	13.9B
Common Stock	9m	9m	10m	12m	12m	12m	16m	17m	17m	17m
Retained Earnings	(7.8B)	(7.8B)	(7.4B)	(7.1B)	(4.6B)	(1.5B)	(131m)	723m	2.4B	6.7B
Additional Paid In Capital	8.3B	8.5B	8.8B	10B	10.5B	11.1B	58B	59.7B	61.4B	63.4B
Treasury Stock	(119m)	(108m)	(50m)	(53m)	(131m)	(2.1B)	(3.1B)	(4.5B)	(6.1B)	(7.1B)
Other Equity	(5m)	6m	(8m)	0	17m	(3m)	(41m)	(10m)	(69m)	(3m)
Total Equity	416m	596m	1.3B	2.8B	5.8B	7.5B	54.8B	55.9B	57.6B	63B
Total Liabilities & Equity	3.3B	3.6B	4.6B	6B	9B	12.4B	67.6B	67.9B	69.2B	76.9B
Common Shares Outstanding	935m	967m	1B	1.2B	1.2B	1.2B	1.6B	1.6B	1.6B	1.6B