Selected Financial Data
since 2005
Income Statement
Advanced Micro Devices Inc., selected items from income statement, long-term trends
US$ in millions
| 12 months ended: | Net revenue | Operating income (loss) | Net income (loss) |
|---|---|---|---|
| Dec 27, 2025 | 34,639) | 3,694) | 4,335) |
| Dec 28, 2024 | 25,785) | 1,900) | 1,641) |
| Dec 30, 2023 | 22,680) | 401) | 854) |
| Dec 31, 2022 | 23,601) | 1,264) | 1,320) |
| Dec 25, 2021 | 16,434) | 3,648) | 3,162) |
| Dec 26, 2020 | 9,763) | 1,369) | 2,490) |
| Dec 28, 2019 | 6,731) | 631) | 341) |
| Dec 29, 2018 | 6,475) | 451) | 337) |
| Dec 30, 2017 | 5,329) | 204) | 43) |
| Dec 31, 2016 | 4,272) | (372) | (497) |
| Dec 26, 2015 | 3,991) | (481) | (660) |
| Dec 27, 2014 | 5,506) | (155) | (403) |
| Dec 28, 2013 | 5,299) | 103) | (83) |
| Dec 29, 2012 | 5,422) | (1,056) | (1,183) |
| Dec 31, 2011 | 6,568) | 368) | 491) |
| Dec 25, 2010 | 6,494) | 848) | 471) |
| Dec 26, 2009 | 5,403) | 664) | 304) |
| Dec 27, 2008 | 5,808) | (1,955) | (3,098) |
| Dec 29, 2007 | 6,013) | (2,865) | (3,379) |
| Dec 31, 2006 | 5,649) | (47) | (166) |
| Dec 25, 2005 | 5,848) | 232) | 165) |
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).
The financial performance, as reflected in the income statement, exhibits significant volatility over the observed period. Net revenue initially declined from 2005 to 2006, then demonstrated moderate growth through 2010. A subsequent decline occurred in 2011 and 2012 before stabilizing and showing incremental increases through 2016. A substantial surge in net revenue is evident from 2017 onwards, with particularly strong growth in 2020, 2021, and 2025. Operating income and net income display even more pronounced fluctuations, with periods of substantial losses interspersed with profitability.
- Net Revenue Trend
- From 2005 to 2010, net revenue fluctuated within a relatively narrow range, peaking at approximately US$6.5 billion. A dip to US$5.4 billion occurred in 2012. The period from 2017 to 2021 witnessed exponential growth, increasing from US$6.5 billion to US$23.6 billion. While revenue decreased slightly in 2022, it rebounded strongly in 2025, reaching US$34.6 billion. This suggests a significant shift in market position and/or demand for the company’s products in the latter part of the period.
- Operating Income Volatility
- Operating income experienced considerable instability. Significant losses were recorded in 2006, 2007, and 2008, with the 2007 loss being particularly substantial. Profitability returned in 2009 and 2010, but was followed by a loss in 2012. From 2013 to 2016, operating income remained relatively low. A positive trend began in 2017, culminating in substantial operating income in 2021 and 2025, aligning with the revenue growth. The large swings indicate sensitivity to economic conditions, competitive pressures, or internal operational factors.
- Net Income Performance
- Net income mirrored the volatility of operating income. Large losses were recorded in 2006, 2007, and 2008. Profitability was achieved in 2009 and 2010, but a significant loss occurred in 2012. The period from 2013 to 2016 was characterized by modest losses. Similar to operating income, net income experienced substantial growth beginning in 2017, with particularly strong performance in 2020, 2021, and 2025. The correlation between net revenue and net income suggests a strong relationship between sales volume and profitability.
Overall, the observed period demonstrates a transformation from a period of relative stagnation and significant losses to one of substantial growth and profitability. The recent performance, particularly from 2017 onwards, indicates a successful strategic shift or favorable market conditions. However, the historical volatility suggests the company’s financial results remain susceptible to external factors and internal challenges.
Balance Sheet: Assets
Advanced Micro Devices Inc., selected items from assets, long-term trends
US$ in millions
| Current assets | Total assets | |
|---|---|---|
| Dec 27, 2025 | 26,947) | 76,926) |
| Dec 28, 2024 | 19,049) | 69,226) |
| Dec 30, 2023 | 16,768) | 67,885) |
| Dec 31, 2022 | 15,019) | 67,580) |
| Dec 25, 2021 | 8,583) | 12,419) |
| Dec 26, 2020 | 6,143) | 8,962) |
| Dec 28, 2019 | 4,597) | 6,028) |
| Dec 29, 2018 | 3,540) | 4,556) |
| Dec 30, 2017 | 2,622) | 3,540) |
| Dec 31, 2016 | 2,530) | 3,321) |
| Dec 26, 2015 | 2,320) | 3,109) |
| Dec 27, 2014 | 2,736) | 3,767) |
| Dec 28, 2013 | 2,884) | 4,337) |
| Dec 29, 2012 | 2,265) | 4,000) |
| Dec 31, 2011 | 3,229) | 4,954) |
| Dec 25, 2010 | 3,594) | 4,964) |
| Dec 26, 2009 | 4,275) | 9,078) |
| Dec 27, 2008 | 2,379) | 7,675) |
| Dec 29, 2007 | 3,816) | 11,550) |
| Dec 31, 2006 | 3,963) | 13,147) |
| Dec 25, 2005 | 3,559) | 7,288) |
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).
The company’s total assets exhibited significant fluctuations between 2005 and 2025. Initial growth was followed by periods of contraction and subsequent expansion, culminating in a substantial increase in recent years. Current assets mirrored this overall trend, demonstrating a similar pattern of volatility.
- Overall Asset Trend (2005-2025)
- From 2005 to 2006, total assets increased dramatically, nearly doubling from US$7.288 billion to US$13.147 billion. This was followed by a decline in 2007 to US$11.550 billion, and a more substantial decrease in 2008 to US$7.675 billion. A modest recovery occurred in 2009, reaching US$9.078 billion, but assets then fell sharply in 2010 to US$4.964 billion, remaining relatively stable through 2014. Beginning in 2015, a consistent upward trend emerged, accelerating significantly from 2019 onwards. By 2022, total assets reached US$67.580 billion, and continued to grow to US$76.926 billion by 2025.
- Current Asset Trend (2005-2025)
- Current assets began at US$3.559 billion in 2005 and increased to US$3.963 billion in 2006. They experienced a slight decrease in 2007, followed by a considerable drop in 2008 to US$2.379 billion. A recovery was observed in 2009, reaching US$4.275 billion, but then declined again in 2010 to US$3.594 billion. Current assets remained relatively flat between approximately US$2.2 billion and US$3.5 billion from 2011 through 2018. From 2019, current assets increased substantially, reaching US$6.143 billion in 2020, US$8.583 billion in 2021, US$15.019 billion in 2022, US$16.768 billion in 2023, and US$19.049 billion in 2024, and US$26.947 billion in 2025.
- Relationship Between Current and Total Assets
- Throughout the period, current assets consistently represented a significant portion of total assets. However, the proportion fluctuated. In the earlier years (2005-2010), current assets typically comprised between 40% and 55% of total assets. This proportion decreased between 2011 and 2018, generally falling between 30% and 45%. From 2019 onwards, the proportion of current assets to total assets increased dramatically, reaching approximately 22% in 2022, 23% in 2023, 25% in 2024, and 35% in 2025, indicating a shift in asset composition towards more liquid holdings.
The period from 2005 to 2018 was characterized by instability and relatively low asset values. The period from 2019 to 2025 demonstrates a period of substantial growth in both total and current assets, suggesting a significant change in the company’s financial position and potentially increased operational capacity or investment activity.
Balance Sheet: Liabilities and Stockholders’ Equity
Advanced Micro Devices Inc., selected items from liabilities and stockholders’ equity, long-term trends
US$ in millions
| Current liabilities | Total debt | Stockholders’ equity (deficit) | |
|---|---|---|---|
| Dec 27, 2025 | 9,455) | 3,222) | 62,999) |
| Dec 28, 2024 | 7,281) | 1,721) | 57,568) |
| Dec 30, 2023 | 6,689) | 2,468) | 55,892) |
| Dec 31, 2022 | 6,369) | 2,467) | 54,750) |
| Dec 25, 2021 | 4,240) | 313) | 7,497) |
| Dec 26, 2020 | 2,417) | 330) | 5,837) |
| Dec 28, 2019 | 2,359) | 486) | 2,827) |
| Dec 29, 2018 | 1,984) | 1,250) | 1,266) |
| Dec 30, 2017 | 1,486) | 1,395) | 611) |
| Dec 31, 2016 | 1,346) | 1,435) | 416) |
| Dec 26, 2015 | 1,403) | 2,262) | (412) |
| Dec 27, 2014 | 1,440) | 2,212) | 187) |
| Dec 28, 2013 | 1,618) | 2,058) | 544) |
| Dec 29, 2012 | 1,397) | 2,042) | 538) |
| Dec 31, 2011 | 1,774) | 2,016) | 1,590) |
| Dec 25, 2010 | 1,674) | 2,421) | 1,013) |
| Dec 26, 2009 | 2,210) | 4,731) | 648) |
| Dec 27, 2008 | 2,226) | 5,074) | (82) |
| Dec 29, 2007 | 2,625) | 5,269) | 2,990) |
| Dec 31, 2006 | 2,852) | 3,797) | 5,785) |
| Dec 25, 2005 | 1,822) | 1,370) | 3,352) |
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).
The liabilities and stockholders’ equity of the company exhibit significant fluctuations over the observed period. Current liabilities generally increased from 2005 to 2021, with a particularly sharp rise between 2020 and 2022. Total debt demonstrated a more volatile pattern, while stockholders’ equity experienced periods of both growth and substantial deficit.
- Current Liabilities
- Current liabilities began at US$1,822 million in 2005 and increased to US$2,852 million in 2006. Following a slight decrease in 2007, they remained relatively stable until 2010. From 2010 through 2021, a general upward trend is apparent, culminating in US$4,240 million in 2021 and a further increase to US$6,369 million in 2022. The trend continued with US$6,689 million in 2023, US$7,281 million in 2024, and US$9,455 million in 2025. This indicates a growing reliance on short-term financing or an increase in operational obligations.
- Total Debt
- Total debt experienced a substantial increase from US$1,370 million in 2005 to US$3,797 million in 2006, peaking at US$5,269 million in 2007. A subsequent decline occurred through 2010, reaching US$2,421 million. The debt remained relatively low through 2015, fluctuating around US$2.2 billion. A significant reduction was observed between 2015 and 2018, falling to US$486 million in 2019. However, debt increased again in 2022 to US$2,467 million, and continued to US$2,468 million in 2023, before increasing to US$1,721 million in 2024 and US$3,222 million in 2025. This suggests periods of aggressive borrowing followed by debt reduction, and more recently, renewed borrowing activity.
- Stockholders’ Equity
- Stockholders’ equity began at US$3,352 million in 2005 and rose to US$5,785 million in 2006. It then decreased significantly to US$2,990 million in 2007 and experienced a substantial deficit of negative US$82 million in 2008. Equity recovered to US$648 million in 2009 and continued to grow, reaching US$1,590 million in 2011. A decline occurred in 2012, falling to US$538 million, followed by a further decrease to US$187 million in 2013. A deficit of negative US$412 million was recorded in 2014 before recovering to US$416 million in 2015. Equity continued to improve, reaching US$2,827 million in 2019 and US$5,837 million in 2020. A dramatic increase occurred in 2022, reaching US$54,750 million, and continued to US$55,892 million in 2023, US$57,568 million in 2024, and US$62,999 million in 2025. This indicates a period of financial distress followed by a substantial improvement in equity position, particularly in recent years.
The interplay between these items suggests a complex financial strategy. The company navigated periods of high debt and negative equity, ultimately achieving a significantly strengthened equity position alongside increasing current liabilities and fluctuating total debt. The recent surge in stockholders’ equity is notable and warrants further investigation to understand its drivers.
Cash Flow Statement
Advanced Micro Devices Inc., selected items from cash flow statement, long-term trends
US$ in millions
| 12 months ended: | Net cash provided by (used in) operating activities | Net cash (used in) provided by investing activities | Net cash provided by (used in) financing activities |
|---|---|---|---|
| Dec 27, 2025 | 6,493) | (6,851) | (431) |
| Dec 28, 2024 | 3,041) | (1,101) | (2,062) |
| Dec 30, 2023 | 1,667) | (1,423) | (1,146) |
| Dec 31, 2022 | 3,565) | 1,999) | (3,264) |
| Dec 25, 2021 | 3,521) | (686) | (1,895) |
| Dec 26, 2020 | 1,071) | (952) | 6) |
| Dec 28, 2019 | 493) | (149) | 43) |
| Dec 29, 2018 | 34) | (170) | 28) |
| Dec 30, 2017 | 68) | (114) | (33) |
| Dec 31, 2016 | 90) | 267) | 122) |
| Dec 26, 2015 | (226) | 147) | 59) |
| Dec 27, 2014 | (98) | (12) | 46) |
| Dec 28, 2013 | (148) | 455) | 13) |
| Dec 29, 2012 | (338) | (19) | 37) |
| Dec 31, 2011 | 382) | (113) | (6) |
| Dec 25, 2010 | (412) | (1,123) | 484) |
| Dec 26, 2009 | 473) | (1,273) | 1,524) |
| Dec 27, 2008 | (692) | (27) | 220) |
| Dec 29, 2007 | (310) | (1,675) | 2,037) |
| Dec 31, 2006 | 1,287) | (4,303) | 3,763) |
| Dec 25, 2005 | 1,483) | (2,270) | 494) |
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).
The period between 2005 and 2025 demonstrates significant fluctuations in the company’s cash flow activities. Operating cash flow exhibited considerable volatility, while investing and financing activities also underwent notable shifts throughout the analyzed timeframe.
- Operating Activities
- Net cash provided by operating activities began at US$1,483 million in 2005, decreased to US$1,287 million in 2006, and then experienced a substantial decline, resulting in a net cash outflow of US$310 million in 2007. This negative trend continued into 2008 with a further outflow of US$692 million. A recovery was observed in 2009, with a positive cash flow of US$473 million, but this was followed by a negative US$412 million in 2010. From 2011 through 2013, operating cash flow fluctuated between positive and negative values, remaining relatively modest. A significant increase began in 2019, reaching US$493 million, and accelerated dramatically to US$1,071 million in 2020, then peaking at US$3,521 million in 2021 and US$3,565 million in 2022. A decrease to US$1,667 million occurred in 2023, followed by a substantial increase to US$3,041 million in 2024 and a further rise to US$6,493 million in 2025.
- Investing Activities
- Net cash used in investing activities consistently represented a cash outflow throughout most of the period. Large outflows were recorded in 2006 (US$4,303 million) and 2005 (US$2,270 million). Outflows moderated between 2007 and 2011, but remained negative. A notable inflow of US$455 million occurred in 2013, but outflows resumed in subsequent years. 2024 and 2025 saw particularly large outflows of US$6,851 million and US$1,101 million respectively, indicating substantial investment activity during those periods.
- Financing Activities
- Net cash flow from financing activities was highly variable. Positive cash inflows were prominent in the earlier years, particularly 2006 (US$3,763 million) and 2009 (US$1,524 million). However, the period from 2011 onwards saw a mix of inflows and outflows. Significant outflows were observed in 2021 (US$1,895 million), 2022 (US$3,264 million), and 2024 (US$2,062 million), suggesting increased debt repayment or shareholder returns during those years. A modest inflow was recorded in 2020 (US$6 million) before the larger outflows began.
Overall, the company’s cash flow profile demonstrates a transition from periods of significant investment and financing activity to a more recent focus on generating substantial cash from operations, particularly from 2019 onwards. The large outflows in investing activities in the later years, coupled with the increased operating cash flow, suggest a period of strategic investment and potential expansion.
Per Share Data
Advanced Micro Devices Inc., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Dec 27, 2025 | 2.67 | 2.65 | 0.00 |
| Dec 28, 2024 | 1.01 | 1.00 | 0.00 |
| Dec 30, 2023 | 0.53 | 0.53 | 0.00 |
| Dec 31, 2022 | 0.85 | 0.84 | 0.00 |
| Dec 25, 2021 | 2.61 | 2.57 | 0.00 |
| Dec 26, 2020 | 2.10 | 2.06 | 0.00 |
| Dec 28, 2019 | 0.31 | 0.30 | 0.00 |
| Dec 29, 2018 | 0.34 | 0.32 | 0.00 |
| Dec 30, 2017 | 0.04 | 0.04 | 0.00 |
| Dec 31, 2016 | -0.60 | -0.60 | 0.00 |
| Dec 26, 2015 | -0.84 | -0.84 | 0.00 |
| Dec 27, 2014 | -0.53 | -0.53 | 0.00 |
| Dec 28, 2013 | -0.11 | -0.11 | 0.00 |
| Dec 29, 2012 | -1.60 | -1.60 | 0.00 |
| Dec 31, 2011 | 0.68 | 0.66 | 0.00 |
| Dec 25, 2010 | 0.66 | 0.64 | 0.00 |
| Dec 26, 2009 | 0.46 | 0.45 | 0.00 |
| Dec 27, 2008 | -5.10 | -5.10 | 0.00 |
| Dec 29, 2007 | -6.06 | -6.06 | 0.00 |
| Dec 31, 2006 | -0.34 | -0.34 | 0.00 |
| Dec 25, 2005 | 0.41 | 0.40 | 0.00 |
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, 2, 3 Data adjusted for splits and stock dividends.
The per share earnings figures for the period examined demonstrate significant volatility. Initial values are positive, transitioning to substantial losses before recovering and ultimately achieving substantial gains in recent years. Dividend payments are absent throughout the entire observed timeframe.
- Basic Earnings Per Share
- From 2005 to 2007, basic earnings per share declined from $0.41 to a loss of -$6.06. This negative trend continued into 2008, reaching -$5.10. A modest recovery occurred in 2009 with earnings of $0.46, followed by a slight increase to $0.66 in 2010 and $0.68 in 2011. However, earnings per share experienced a significant downturn in 2012, reporting a loss of -$1.60. Subsequent years through 2014 showed continued negative earnings, albeit lessening in magnitude. A return to positive earnings was observed in 2017 at $0.04, which then grew substantially to $2.10 in 2020 and $2.61 in 2021. A decrease to $0.85 was noted in 2022, followed by $0.53 in 2023, $1.01 in 2024, and $2.67 in 2025.
- Diluted Earnings Per Share
- The trend in diluted earnings per share closely mirrors that of basic earnings per share. From $0.40 in 2005, it declined to -$6.06 in 2007 and -$5.10 in 2008. Similar to basic EPS, diluted EPS showed a recovery in 2009 ($0.45) and 2010 ($0.64), followed by a decline in 2012 (-$1.60). Negative earnings persisted through 2014. Positive earnings resumed in 2017 at $0.04, with significant growth to $2.06 in 2020 and $2.57 in 2021. A decrease to $0.84 was observed in 2022, followed by $0.53 in 2023, $1.00 in 2024, and $2.65 in 2025. The difference between basic and diluted EPS remains consistently small throughout the period.
- Dividend Per Share
- No dividend payments per share were recorded during the examined period. The field remains consistently blank, indicating the absence of dividend distributions to shareholders.
The substantial improvement in earnings per share from 2017 onwards represents a significant shift in the company’s profitability. The absence of dividends throughout the period suggests that earnings have been reinvested in the business or used for other corporate purposes.