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$465.58
Market Capi
$760B
Growth-adj P/E (3-yr hist)i
1.7x
Growth-adj P/E (3-yr proj)i
0.3x
P/S 26Ei
15x
P/S 28Ei
6.3x
EV/EBIT 26Ei
52x
EV/EBIT 28Ei
17x
P/E 26Ei
81x
P/E 28Ei
25x
P/S 26Ei
15x
EV/EBIT 26Ei
52x
P/E 26Ei
81x
P/S 28Ei
6.3x
EV/EBIT 28Ei
17x
P/E 28Ei
25x
Revenue
2026E
$51B
Gross Margini
52%
Hist. CAGRi
14%
Proj. CAGRi
51%
EBIT
2026E
$14B
Op. Margini
11%
Hist. CAGRi
44%
Proj. CAGRi
125%
Net profit
2026E
$9.4B
Net Margini
13%
Hist. CAGRi
49%
Proj. CAGRi
96%
Business Model
Recent Developments
Average Targeti
$577.57+11%
Consensusi
Buy
51 analysts covering
Net cashi
$12B
Div. Yieldi
n/a
Dilutioni
0.3%
Market Capi
$760B
P/E 26Ei
81x
Adj. P/E (fwd.)i
0.3x
Revenue 26E
$51B
Proj. CAGRi
51%
Gross Margini
52%
EBIT 26E
$14B
Proj. CAGRi
125%
Op. Margini
11%
Net Profit 26E
$9.4B
Proj. CAGRi
96%
Net Margini
13%
Average Targeti
$577.57+11%
Consensusi
Buy
51 analysts covering
Profile
AMD designs and sells high-performance semiconductors — CPUs, GPUs, and accelerators — across four reportable segments, with the Data Center segment now clearly dominant.
Industry
AMD competes in the global semiconductor industry — capital-intensive, cyclical, and increasingly driven by AI infrastructure buildout. Primary customers are hyperscalers (Meta, Microsoft Azure, Google Cloud, Oracle, Amazon AWS) for data center products, major OEMs (Dell, HP, Lenovo) for client CPUs, and Sony and Microsoft for gaming silicon. Geographic mix is concentrated: the US (~33%), China (~22%), and Taiwan (~15%) account for the bulk of revenue. Customer relationships at the hyperscaler tier are long-cycle and sticky — design wins can lock in multi-year procurement.
Key metrics
Economic moat
AMD's structural advantages stem from x86 architecture co-duopoly with Intel — no third party can build a compatible server CPU, giving AMD permanent access to the world's largest compute workload base. The chiplet design methodology, pioneered internally, gives AMD a meaningful manufacturing flexibility advantage: mixing process nodes across a single package enables faster generation cadence without full-die re-spins. On the GPU side, the ROCm open software platform is deliberately positioned as an alternative to Nvidia's proprietary CUDA, a long-term bet that hyperscalers wary of vendor lock-in will invest in AMD compatibility.
Lisa Su
Lisa Su has led AMD since October 2014, joining as COO in July of that year before being named CEO within months. She holds a PhD in electrical engineering from MIT and spent years at IBM and Freescale Semiconductor before AMD, where she served as SVP of Global Business Units. Under her tenure AMD went from near-insolvency to one of the most valuable semiconductor companies in the world, driven by a disciplined chiplet strategy, a rebuilt product roadmap, and a deliberate push into the data center. In February 2022 she was also named Chair of the Board, consolidating operational and governance influence.
Jean Hu
Jean Hu became CFO in January 2023, bringing experience from prior finance leadership roles in the semiconductor industry. She oversees capital allocation decisions that have become increasingly consequential as AMD's data center revenue has scaled rapidly and R&D investment has intensified ahead of the MI400 launch cycle.
Mark Papermaster
Mark Papermaster has served as CTO since 2011, making him one of the longest-tenured members of the executive team. His background includes senior technical roles at IBM and Apple. He is the principal architect behind AMD's chiplet design philosophy — the multi-die packaging approach that enabled EPYC and Ryzen to compete on performance-per-watt without requiring leading-edge monolithic dies, a structural advantage that is now widely imitated across the industry.
Other key figures
Vamsi Boppana joined as an additional CTO focused on AI and software in January 2023, reflecting AMD's recognition that ROCm software ecosystem development is as strategically important as hardware. Keivan Keshvari has served as COO since late 2017, managing global supply chain and manufacturing partnerships — a role of growing complexity as TSMC dependency deepens and geopolitical risk around advanced node access intensifies.
P/S Ratioi
EV/EBITi
P/E RatioiP/E values for 2023 were omitted from this chart because negative or above 150x values usually occur around break-even earnings and would distort the scale. The raw values remain in the table below.
Revenue
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
EBIT
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Net profit
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Values in billions of USD.
Operating cashflow · Levered Free Cash Flow
Free Cash Flow
CAPEX
Values in billions of USD.
Margins
Rentability
Balance sheet
Values in billions of USD.
Liquidity ratios
Debt-to-Equity-Ratio
Last earnings
Record quarterly revenue of $11.5 billion, up 50% year-over-year and 13% sequentially — the strongest quarter in company history.
GAAP diluted EPS came in at $1.38 and non-GAAP diluted EPS at $1.66, both ahead of Wall Street consensus.
The standout was the Data Center segment at $6.7 billion, up 107% year-over-year and now 58% of revenue, driven by EPYC processor demand and expanding Instinct GPU shipments.
Management guided third-quarter revenue to $12.7–13.3 billion, implying roughly 41% year-over-year growth, while flagging a softer PC market and a sharp step-up in capital spending for data center capacity.
Recent developments
AMD agreed to acquire AI inference chip startup Taalas on August 6, 2026, gaining model-specific silicon design technology aimed at cutting inference compute and memory costs; the deal is expected to close in the fourth quarter.
The U.S. Commerce Department began issuing export licenses for AI chip sales to China on August 8, 2026, clearing the way for AMD to resume MI308 accelerator shipments under a revenue-sharing arrangement with the federal government.
Data Center momentum builds on AMD's multi-year GPU supply agreement with OpenAI, with deployment of Instinct-based systems set to scale through the second half of 2026.
Debate & sentiment
Bulls point to AMD's expanding share of the AI accelerator market, arguing that even a modest slice of a market measured in the hundreds of billions supports continued Data Center growth as the Instinct MI400 generation ramps.
Skeptics counter that the shares carry stretched valuation multiples, leaving little room for error if any part of the AI buildout timeline slips.
A sharp rise in capital expenditures tied to data center capacity has drawn scrutiny, with some questioning how quickly that spending converts into profit.
Others note that softer PC and gaming demand, pressured by higher component costs, could offset some of the Data Center strength ahead.
Consensusi
Buy
Average targeti
$577.57+11%
Highest targeti
$1,250.00+141%
Lowest targeti
$320.00-38%
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