Common-Size Balance Sheet: Assets
Quarterly Data
Advanced Micro Devices Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-K (reporting date: 2024-12-28), 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-K (reporting date: 2021-12-25), 10-Q (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-K (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28).
- Cash and cash equivalents
- There was a significant decrease in the proportion of cash and cash equivalents relative to total assets from 22.68% in March 2020 to single-digit percentages by March 2022, where it remained roughly stable around 5-8% through June 2025. This indicates a reduction in liquid cash reserves over the period.
- Short-term investments
- The percentage of short-term investments fluctuated, peaking at 13.47% in March 2021 before showing a steady decline to below 2% by late 2024, with minor increases around mid-2023 and early 2024. This trend suggests a reduction in short-term investment holdings as a share of assets over the long term.
- Accounts receivable, net
- Starting at a high of around 28.84% in March 2020, accounts receivable saw a sharp decline to around 5.5%-8.5% between March 2022 and June 2025. There was some volatility, but overall the share remained at a notably lower level compared to earlier periods, reflecting a smaller proportion of receivables relative to total assets.
- Inventories
- Inventories held a consistent share initially near or above 15%, declining drastically to approximately 3.6% by March 2022. After this low point, inventory levels gradually increased, reaching about 8.9% by June 2025, indicating a rebuilding of inventory relative to total assets in the latter periods.
- Assets held for sale
- This item only appears in the final reported period (June 2025) at 5.78% of total assets, suggesting a recent decision or event causing certain assets to be classified as held for sale.
- Prepaid expenses and other current assets
- The proportion of prepaid expenses and other current assets fell from 4.4% in March 2020 to around 1.1% by March 2022, before gradually increasing and reaching 3.39% by June 2025. This reflects a modest recovery in this category after the initial reduction.
- Current assets
- Current assets initially comprised over 70% of total assets but dropped sharply to below 20% from March 2022 onwards. Since then, there was a gradual rise to approximately 32.8% by June 2025, indicating a partial restoration of current asset levels.
- Property and equipment, net
- The share of property and equipment declined steadily from around 9.2% in early 2020 to approximately 2.1% by March 2022, then slowly increased to nearly 2.84% by June 2025, showing a strategic decrease followed by slight growth in fixed asset investments.
- Goodwill
- Goodwill made up a moderate proportion initially (<5%), but from March 2022 onwards it rose dramatically to above 33%, remaining relatively stable at around 34% and gradually decreasing to 33.52% by June 2025. This indicates significant goodwill recognition possibly due to acquisitions.
- Acquisition-related intangibles, net
- Starting from March 2022, acquisition-related intangibles accounted for a large portion of total assets, gradually decreasing from 40.1% to 23.81% by June 2025, reflecting amortization or revaluation effects over time.
- Deferred tax assets
- Deferred tax assets were minimal or unreported initially, then appeared at 13.89% in December 2020, sharply declining to near zero by March 2022. Subsequently, they showed a modest upward trend reaching approximately 1.15% by June 2025.
- Other non-current assets
- Other non-current assets decreased from 11% in early 2020 to below 3.5% by March 2022, followed by a steady increase to about 5.9% by June 2025.
- Non-current assets
- The share of non-current assets fluctuated significantly, dropping from around 25% in early 2020 to approximately 67.23% by June 2025, with a notable peak near 80% between March 2022 and early 2023, largely driven by increases in goodwill and acquisition-related intangibles.
- Total assets
- Total assets are presented as 100% throughout, serving as the reference base for all proportional values.
- Overall Analysis
- The data shows a marked shift in asset composition beginning around March 2022, with current asset categories such as cash, receivables, and inventories dropping substantially, while non-current intangible assets rose sharply. This pattern suggests that the company underwent significant acquisition activity increasing intangible assets and goodwill, accompanied by a reallocation away from liquid and physical assets. The gradual later increase in inventories, prepaid expenses, and current assets hints at a partial normalization of the asset structure post-acquisition. The presence of assets held for sale in June 2025 indicates potential divestitures or restructuring activities. The trends reflect a transition in the company’s asset base, emphasizing intangible asset growth and strategic asset management over the observed periods.