Common-Size Income Statement
Quarterly Data
Advanced Micro Devices Inc., common-size consolidated income statement (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).
- Cost of Sales
- The cost of sales relative to net revenue shows a generally declining trend from the beginning of the period, starting at approximately 54.2%, reaching lows near 46% through several quarters. However, there is some variability and an abrupt increase towards the latest quarter ending June 2025, where cost of sales spikes to about 56.81%. This shows fluctuations in production or sourcing expenses that could impact gross margins.
- Gross Profit
- Gross profit margins, as a percentage of net revenue, have mostly exhibited an improving trend. Early in the period, gross profit margin was around 45.8%, dipping slightly and fluctuating but showing an upward trajectory reaching over 50% in recent quarters. This suggests an overall improvement in cost management or pricing power until a decline in the last reported quarter to approximately 39.8%, which may be related to the heightened cost of sales noted.
- Research and Development (R&D) Expenses
- R&D expenses as a percentage of net revenue generally increased over time, starting near 24.75%, lowering for a period around 17% to 18%, then rising steadily to over 27% in some quarters, before moderate decreases near the latest quarters. This pattern indicates sustained or increasing investment in innovation and product development, though some fluctuations may reflect changes in strategic priorities or project life cycles.
- Marketing, General, and Administrative (MG&A) Expenses
- MG&A expenses have remained relatively stable but with a slight upward drift, fluctuating between approximately 8.5% and 12.9% of net revenue. The most recent periods show MG&A expenses at their higher range near 12-13%, suggesting increased costs in these areas, potentially reflecting added overhead, marketing efforts, or administrative investments.
- Amortization of Acquisition-Related Intangibles
- Amortization expenses related to acquisition intangibles were absent or minimal early on but became significant starting in 2021, reaching peaks of around 10.7% of net revenue in some quarters before gradually decreasing to near 3-4% more recently. This pattern aligns with acquisition activity followed by a tapering of amortization charges over time.
- Operating Income (Loss)
- Operating income displayed strong growth early through late 2021, peaking above 25% of net revenue. However, starting in early 2022, operating income sharply declined, turning negative in several quarters, indicating operational challenges or increased costs. Some recovery appears in 2023 and early 2024, although with volatility and a negative return again in the most recent reported quarter.
- Interest Expense
- Interest expenses have remained relatively low and stable as a percentage of net revenue, mostly under 0.7%, showing efficient debt management or limited debt burden relative to revenue generation.
- Other Income (Expense), Net
- Other income or expense fluctuated over the period but generally contributed positively, with small positive percentages noted in most quarters from mid-2021 onward. This suggests incidental gains or income streams supporting overall profitability.
- Income Before Taxes
- Income from continuing operations before income taxes followed a trend similar to operating income, with strong margins early on, followed by a decline into negative territory in several quarters post-2021, and a recovery trajectory with some volatility thereafter. This reflects the operational profitability pattern adjusted for interest and other income/expenses.
- Income Tax Provision/Benefit
- Income tax as a percentage of net revenue is highly variable, including instances of significant tax benefits, notably an exceptionally high 37.98% benefit in one quarter (Dec 2020). Otherwise, the tax rates fluctuate widely with some quarters showing tax provisions near -5% and others showing benefits, indicating potential impacts from changes in tax regulations, credits, or one-time adjustments.
- Net Income (Loss)
- Net income as a percentage of net revenue trends broadly mirror those of income from continuing operations, with strong profitability periods from 2019 through 2021, followed by marked declines with some negative quarters around 2022 and early 2023. A recovery trend is evident afterward, though profitability remains volatile, underscoring potential cyclical or market pressures impacting final earnings.
- Licensing Gain
- Licensing gains are small but positive in some quarters, generally below 1.5% of net revenue, indicating occasional income from intellectual property or partnership agreements contributing a minor but steady revenue component.
- Restructuring Charges
- One occurrence of restructuring charges is noted at -2.43% of net revenue shortly before the latest quarter, suggesting a discrete cost related to reorganization efforts, which may have impacted recent profitability.