Common-Size Income Statement
Quarterly Data
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Advanced Micro Devices Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
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Advanced Micro Devices Inc., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2026-03-28), 10-K (reporting date: 2025-12-27), 10-Q (reporting date: 2025-09-27), 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).
The financial trajectory over the analyzed period is characterized by significant volatility in profitability, marked by a period of margin compression followed by a strategic recovery and subsequent stabilization. Profitability metrics exhibit a cyclical pattern, with notable dips in 2022 and mid-2025, offset by periods of expansion in gross and net margins.
- Gross Profit Margin Trends
- Gross margins began the period with relative stability between 46% and 50%, before experiencing a decline throughout 2022, reaching a low of 42.30% in September 2022. A consistent recovery followed, with margins climbing back above 50% by late 2024. A significant anomalous drop to 39.80% occurred in June 2025, which was rapidly reversed in subsequent quarters, peaking at 54.30% in September 2025 before settling at 52.82% by March 2026.
- Operating Expense Dynamics
- Research and development (R&D) spending shows a clear upward trend as a percentage of revenue, increasing from approximately 17% in early 2021 to a peak of 27.86% in March 2024. This suggests a sustained increase in investment in product development. Marketing, general, and administrative expenses remained more stable, generally fluctuating between 8% and 12% of net revenue. Amortization of acquisition-related intangibles peaked in late 2022 at 10.73%, creating a significant drag on operating results, but steadily declined to 2.83% by March 2026 as these assets were amortized.
- Operating Income and Net Profitability
- Operating income exhibited extreme variance, shifting from high positive margins of over 20% in 2021 to negative territory between September 2022 and July 2023. This contraction coincided with the peak in R&D spending and amortization charges. Recovery began in late 2023, with operating margins reaching 17.06% by September 2025. Net income mirrored this volatility, falling to a low of -2.60% in April 2023 before rebounding to 13.49% by the end of the period. The influence of discontinued operations became a factor in 2025, contributing marginally to the net result.
- Tax and Other Income Effects
- Income tax provisions showed high variability, including significant tax benefits in June 2025 (10.85% of revenue) which helped mitigate the operating loss during that quarter. Other income, net, remained a minor component but showed a notable spike to 3.49% of revenue in September 2025, contributing to the peak net income observed during that period.