ADVANCED MICRO DEVICES INC (AMD)
Income Statement
Consolidated Statement of Income
ADVANCED MICRO DEVICES, INC. (AMD)
Year Ended (In millions, except shares and per share data)
| Dec 27, 2025 | Dec 28, 2024 | Dec 30, 2023 | |
|---|---|---|---|
| Net revenue | $34,639 | $25,785 | $22,680 |
| Cost of sales | $16,456 | $12,114 | $11,278 |
| Amortization of acquisition-related intangibles- COGS | $1,031 | $946 | $942 |
| Total cost of sales | $17,487 | $13,060 | $12,220 |
| Gross profit | $17,152 | $12,725 | $10,460 |
| Research and development | $8,091 | $6,456 | $5,872 |
| Marketing, general and administrative | $4,144 | $2,735 | $2,318 |
| Amortization of acquisition-related intangibles | $1,223 | $1,448 | $1,869 |
| Restructuring charges | $186 | ||
| Total operating expenses | $13,458 | $10,825 | $10,059 |
| Operating income | $3,694 | $1,900 | $401 |
| Interest expense | $(131) | $(92) | $(106) |
| Other income (expense), net | $577 | $181 | $197 |
| Income from continuing operations before income taxes and equity income | 4,140 | 1,989 | 492 |
| Income tax provision (benefit) | $(103) | $381 | $(346) |
| Equity income in investee | $26 | $33 | $16 |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 4,269 | 1,641 | 854 |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 66 | ||
| Net income | $4,335 | $1,641 | $854 |
| Income (Loss) from Continuing Operations, Per Basic Share | 2.63 | 1.01 | 0.53 |
| Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share | 0.04 | ||
| Basic (in usd per share) | 2.67 | 1.01 | 0.53 |
| Income (Loss) from Continuing Operations, Per Diluted Share | 2.61 | 1.00 | 0.53 |
| Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share | 0.04 | ||
| Diluted (in usd per share) | 2.65 | 1.00 | 0.53 |
| Basic (in shares) | 1,624 | 1,620 | 1,614 |
| Diluted (in shares) | 1,636 | 1,637 | 1,625 |
Balance Sheet
Consolidated Balance Sheets
ADVANCED MICRO DEVICES, INC. (AMD)
As of December 27, 2025 and December 28, 2024 (In millions, except shares and per share data)
| Dec 27, 2025 | Dec 28, 2024 | |
|---|---|---|
| Cash and cash equivalents | $5,539 | $3,787 |
| Short-term investments | $5,013 | $1,345 |
| Accounts receivable, net | $6,315 | $6,192 |
| Inventories | $7,920 | $5,734 |
| Prepaid expenses and other current assets | $2,160 | $1,991 |
| Total current assets | $26,947 | $19,049 |
| Property and equipment, net | $2,312 | $1,802 |
| Goodwill | $25,126 | $24,839 |
| Acquisition-related intangibles, net | $16,705 | $18,930 |
| Deferred tax assets, net | $384 | $688 |
| Other non-current assets | $5,452 | $3,918 |
| Total assets | $76,926 | $69,226 |
| Accounts payable | $2,929 | $2,466 |
| Accrued liabilities | $5,250 | $4,260 |
| Current portion of long-term debt, net | $874 | |
| Other current liabilities | $402 | $555 |
| Total current liabilities | $9,455 | $7,281 |
| Long-term debt, net of current portion | $2,348 | $1,721 |
| Long-term operating lease liabilities | $625 | $491 |
| Deferred tax liabilities | $313 | $349 |
| Other long-term liabilities | $1,186 | $1,816 |
| Commitments and contingencies (see Note 12) | ||
| Common Stock, Value, Issued | $17 | $17 |
| Additional paid-in capital | $63,365 | $61,362 |
| Treasury Stock, Value | $(7,079) | $(6,106) |
| Retained earnings | $6,699 | $2,364 |
| Accumulated other comprehensive loss | $(3) | $(69) |
| Total stockholders’ equity | $62,999 | $57,568 |
| Total liabilities and stockholders’ equity | $76,926 | $69,226 |
Cash Flow
Consolidated Statement of Cash Flows
ADVANCED MICRO DEVICES, INC. (AMD)
Year Ended (In millions, except shares and per share data)
| Dec 27, 2025 | Dec 28, 2024 | Dec 30, 2023 | |
|---|---|---|---|
| Net income | $4,335 | $1,641 | $854 |
| Income from discontinued operations, net of tax | (66) | ||
| Depreciation and amortization | $750 | $671 | $642 |
| Amortization | $2,254 | $2,393 | $2,811 |
| Stock-based compensation | $1,638 | $1,407 | $1,384 |
| (Gains) losses on long-term investments, net | $(341) | $(1) | |
| Deferred income taxes | $248 | $(1,163) | $(1,019) |
| Inventory loss at (recovery from) contract manufacturer | $(67) | $65 | |
| Other | $120 | $125 | $45 |
| Accounts receivable, net | $(121) | $(1,865) | $(1,339) |
| Inventories | $(2,189) | $(1,458) | $(580) |
| Prepaid expenses and other assets | $(11) | $339 | $(390) |
| Accounts payable | $410 | $3 | $(519) |
| Accrued and other liabilities | $(467) | $883 | $(221) |
| Cash Provided by (Used in) Operating Activity, Continuing Operation | 6,493 | 3,041 | 1,667 |
| Cash Provided by (Used in) Operating Activity, Discontinued Operation | 1,216 | ||
| Cash Provided by (Used in) Operating Activity, Including Discontinued Operation, Total | 7,709 | 3,041 | 1,667 |
| Purchases of property and equipment | $(974) | $(636) | $(546) |
| Purchases of short-term investments | $(5,470) | $(1,493) | $(3,722) |
| Proceeds from Maturities, Prepayments and Calls of Short-Term Investments | $1,765 | $1,416 | $2,687 |
| Proceeds from Sale of Short-Term Investments | $80 | $616 | $300 |
| Acquisitions, net of cash acquired, all others | $(1,760) | $(548) | $(131) |
| Related party loan and equity method investment | $(117) | ||
| Purchases of long-term investments | $(502) | $(341) | $(11) |
| Other | $10 | $2 | |
| Cash Provided by (Used in) Investing Activity, Continuing Operation | (6,851) | (1,101) | (1,423) |
| Proceeds from Divestiture of Businesses, Net of Cash Divested | $1,356 | ||
| Payments for (Proceeds from) Productive Assets | $(38) | ||
| Cash Provided by (Used in) Investing Activity, Discontinued Operation | 1,318 | ||
| Net cash used in investing activities | $(5,533) | $(1,101) | $(1,423) |
| Proceeds from debt and commercial paper issuance, net of issuance costs | $2,441 | ||
| Repayment of debt and commercial paper | $(950) | $(750) | |
| Proceeds from sales of common stock through employee equity plans | $285 | $279 | $268 |
| Repurchases of common stock | $(1,316) | $(862) | $(985) |
| Stock repurchases for tax withholding on employee equity plans | $(607) | $(728) | $(427) |
| Settlement of contingent consideration liability | (284) | ||
| Other | $(1) | $(2) | |
| Net cash used in financing activities | $(431) | $(2,062) | $(1,146) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $1,745 | $(122) | $(902) |
| Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Including Discontinued Operation | |||
| Total cash, cash equivalents, and restricted cash | |||
| Total cash, cash equivalents, and restricted cash | |||
| Interest | $91 | $72 | $84 |
| Income taxes, net of refund | $884 | $1,386 | $523 |
| Purchases of property and equipment, accrued but not paid | $129 | $144 | $106 |
| Reissuance of treasury stock for acquisition | $860 | ||
| Reissuance of treasury stock to settle contingent consideration liability from acquisition | 188 | ||
| Non-cash consideration and earn-out receivable from divestiture | 486 | ||
| Operating lease right-of-use assets acquired by assuming related liabilities | $285 | $102 | $273 |
| Cash and cash equivalents | |||
| Restricted cash included in Prepaid expense and other current assets | |||
| Total cash, cash equivalents, and restricted cash |