Stock Analysis on Net

Advanced Micro Devices Inc. (NASDAQ:AMD)

$24.99

Price to Book Value (P/BV)
since 2005

Microsoft Excel

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Calculation

Advanced Micro Devices Inc., P/BV, long-term trends, calculation

Microsoft Excel

Based on: 10-K (reporting date: 2025-12-27), 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-25).

1 US$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of Advanced Micro Devices Inc. Annual Report.


The price-to-book value (P/BV) ratio for the period examined exhibits significant fluctuations. Initially, the ratio demonstrates a decline from 5.83 in 2006 to a low of 1.42 in 2007, followed by a slight increase to 1.44 in 2008. A period of unavailable information follows in 2009. Subsequently, the ratio rises substantially, peaking at 31.66 in 2017, before experiencing a considerable correction.

Early Period (2006-2008)
The P/BV ratio began at a relatively high level of 5.83, suggesting investors were willing to pay a premium for each dollar of net asset value. The subsequent decrease indicates a diminishing of this premium, potentially reflecting changing market perceptions or company performance. The ratio stabilizes around 1.44 in 2008.
Recovery and Growth (2010-2017)
Following the period with missing information, the P/BV ratio shows a strong upward trend, increasing from 8.23 in 2010 to a peak of 31.66 in 2017. This suggests increasing investor confidence and a growing expectation of future earnings relative to the company’s book value. The substantial increase in 2017 is particularly noteworthy.
Recent Period (2018-2026)
After 2017, the P/BV ratio experiences a marked decline, falling to 19.87 in 2018 and continuing to decrease to 2.32 in 2023. This suggests a reassessment of the company’s valuation by investors. A subsequent increase to 4.85 in 2024 and 5.18 in 2026 indicates some stabilization, but remains significantly below the peak observed in 2017. The ratio remains volatile.

The fluctuations in the P/BV ratio appear to correlate with changes in both the share price and the book value per share. Periods of increasing share price, such as between 2016 and 2021, generally coincide with increases in the P/BV ratio. Conversely, declines in share price, as seen after 2021, are associated with decreases in the ratio. The book value per share also demonstrates a significant increase in recent years, particularly from 2022 onwards, which partially offsets the decline in share price and contributes to the recent stabilization of the P/BV ratio.

The negative book value per share in 2009 and 2015 is an anomaly that likely reflects accumulated losses exceeding accumulated equity. This would have rendered the P/BV ratio undefined for those periods, explaining the missing values.


Comparison to Competitors

Advanced Micro Devices Inc., P/BV, long-term trends, comparison to competitors

Microsoft Excel

Based on: 10-K (reporting date: 2025-12-27), 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-25).


Comparison to Sector (Semiconductors & Semiconductor Equipment)

Advanced Micro Devices Inc., P/BV, long-term trends, comparison to sector (semiconductors & semiconductor equipment)

Microsoft Excel

Based on: 10-K (reporting date: 2025-12-27), 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-25).


Comparison to Industry (Information Technology)

Advanced Micro Devices Inc., P/BV, long-term trends, comparison to industry (information technology)

Microsoft Excel

Based on: 10-K (reporting date: 2025-12-27), 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-25).