Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Statement of Comprehensive Income
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Selected Financial Data since 2005
- Aggregate Accruals
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Advanced Micro Devices Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 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 statement information reveals a complex pattern of cash flows over the analyzed period. Operating activities generally provided positive cash flow, though with significant fluctuations. Investing activities were consistently cash-consuming, with notable variations driven by strategic investments and acquisitions. Financing activities demonstrated considerable volatility, shifting between providing and consuming cash, largely influenced by debt management and stock repurchases.
- Operating Activities
- Net cash flows from operating activities were generally positive, starting at US$898 million and peaking at US$2,304 million in late 2025. However, there were periods of decline, most notably in late 2022 with US$567 million and early 2023 with US$486 million. A significant driver of these fluctuations appears to be changes in operating assets and liabilities, which exhibited substantial swings throughout the period. Net income itself also showed considerable variation, impacting operating cash flow. The adjustments to reconcile net income to net cash provided by operating activities were consistently positive, indicating non-cash expenses and changes in working capital contributed to cash generation.
- Investing Activities
- Investing activities consistently represented a net cash outflow. The largest outflows occurred in 2021 and 2022, driven by purchases of short-term investments and, in 2022, the acquisition of Xilinx (US$2,366 million). Proceeds from the maturity and sale of short-term investments partially offset these outflows, but were insufficient to generate positive net cash flow from investing. Strategic investments and acquisitions, net of cash acquired, also contributed to the consistent cash drain. A notable outflow related to purchases of strategic investments was observed in 2024 and 2025.
- Financing Activities
- Financing activities exhibited the most significant volatility. Large outflows were observed in 2021 and 2022, primarily due to stock repurchases and repayment of debt. In contrast, 2024 saw a substantial inflow of US$2,441 million from debt and commercial paper issuance. Stock repurchases, including those for tax withholding, were a consistent cash outflow throughout much of the period. Proceeds from sales of common stock through employee equity plans provided a minor, but consistent, inflow. The net cash flows from discontinued operations also contributed to financing activity, particularly in the later periods.
- Key Trends & Observations
- A significant increase in depreciation and amortization is observed from 2021 to 2023, peaking at US$1,220 million, before declining slightly. Stock-based compensation also increased substantially over the period, reaching US$486 million in late 2025. Deferred income taxes showed considerable fluctuation, with large outflows in 2022 and 2023, followed by inflows in later periods. Accounts receivable exhibited significant volatility, with large increases and decreases throughout the period. Inventory levels also fluctuated considerably, with substantial decreases in some quarters and increases in others. The company’s cash position was heavily influenced by its investment and financing decisions, with acquisitions and stock repurchases representing major cash outflows, offset by debt issuance and operating cash flow.
The data suggests a period of significant investment and strategic activity, coupled with active capital management through debt and equity markets. The fluctuations in cash flow highlight the dynamic nature of the company’s financial position and its responsiveness to market conditions and investment opportunities.