Debt to Equity
since 2005
Calculation
Advanced Micro Devices Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Stockholders’ equity (deficit)1 | |
|---|---|---|---|---|---|
| Dec 28, 2024 | 0.03 | = | 1,721) | ÷ | 57,568) |
| Dec 30, 2023 | 0.04 | = | 2,468) | ÷ | 55,892) |
| Dec 31, 2022 | 0.05 | = | 2,467) | ÷ | 54,750) |
| Dec 25, 2021 | 0.04 | = | 313) | ÷ | 7,497) |
| Dec 26, 2020 | 0.06 | = | 330) | ÷ | 5,837) |
| Dec 28, 2019 | 0.17 | = | 486) | ÷ | 2,827) |
| Dec 29, 2018 | 0.99 | = | 1,250) | ÷ | 1,266) |
| Dec 30, 2017 | 2.28 | = | 1,395) | ÷ | 611) |
| Dec 31, 2016 | 3.45 | = | 1,435) | ÷ | 416) |
| Dec 26, 2015 | — | = | 2,262) | ÷ | (412) |
| Dec 27, 2014 | 11.83 | = | 2,212) | ÷ | 187) |
| Dec 28, 2013 | 3.78 | = | 2,058) | ÷ | 544) |
| Dec 29, 2012 | 3.80 | = | 2,042) | ÷ | 538) |
| Dec 31, 2011 | 1.27 | = | 2,016) | ÷ | 1,590) |
| Dec 25, 2010 | 2.39 | = | 2,421) | ÷ | 1,013) |
| Dec 26, 2009 | 7.30 | = | 4,731) | ÷ | 648) |
| Dec 27, 2008 | — | = | 5,074) | ÷ | (82) |
| Dec 29, 2007 | 1.76 | = | 5,269) | ÷ | 2,990) |
| Dec 31, 2006 | 0.66 | = | 3,797) | ÷ | 5,785) |
| Dec 25, 2005 | 0.41 | = | 1,370) | ÷ | 3,352) |
Based on: 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 US$ in millions
- Total Debt
- The total debt experienced significant fluctuations throughout the period. Initial figures in 2005 show a moderate level of debt at $1,370 million, which rose sharply to a peak of $5,269 million in 2007. Following this, there was a gradual decline until 2010, with debt decreasing to $2,421 million. From 2011 to 2015, total debt remained relatively stable in the range of $1,250 million to $2,262 million. A further reduction occurred in 2019 and 2020, reaching a low of $313 million in 2021. However, there was a notable resurgence beginning in 2022, where debt increased sharply to $2,467 million and remained near this elevated level in 2023 and 2024.
- Stockholders’ Equity (Deficit)
- Stockholders’ equity exhibited substantial volatility over the analyzed timeframe. Starting at $3,352 million in 2005, it increased markedly to $5,785 million in 2006 before experiencing a sharp decline to $2,990 million in 2007. The equity value turned negative in 2008, with a deficit of $82 million, indicating potential financial distress. Subsequently, equity rebounded, growing to $5,837 million by 2020, and then dramatically surged to extraordinarily high levels in 2022, reaching approximately $54,750 million. This upward trend continued slightly into 2023 and 2024, showing strong equity positions despite the earlier periods of instability.
- Debt to Equity Ratio
- The debt to equity ratio followed a highly variable pattern reflecting the swings in both debt and equity levels. It started at a conservative level of 0.41 in 2005 and escalated sharply to 1.76 in 2007. The ratio was not available for one period but spiked to an exceptionally high level of 7.3 in 2009, coinciding with the negative equity period. Over the subsequent years, the ratio generally declined, reaching a low of 0.04 to 0.06 between 2020 and 2023, indicating reduced reliance on debt in relation to equity. The ratio remained very low through 2024, suggesting a strong equity base relative to debt during the most recent years.
- Overall Trends and Insights
- The data reveals considerable financial restructuring over the years, with periods of increased leverage followed by deleveraging and marked equity growth. The sharp increase in debt between 2005 and 2007 and the associated rise in the debt to equity ratio appears to have been reversed in later years, particularly after 2010, as the company reduced debt and boosted equity levels. The negative equity in 2008 and 2009 signals a challenging financial phase, but this was followed by a significant recovery and strong equity accumulation in the subsequent decade. The recent large equity figures suggest either significant retained earnings, capital injections, or revaluations, providing a robust financial position despite the increase in debt in 2022 and beyond. The low and stable debt to equity ratios in recent years indicate a conservative capital structure emphasizing equity financing.
Comparison to Competitors
Advanced Micro Devices Inc., debt to equity, long-term trends, comparison to competitors
| Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 28, 2024 | 0.03 | 0.22 | 0.33 | 1.00 | 0.50 | 1.97 | 0.58 | 0.30 | 0.23 | 0.56 | 0.80 |
| Dec 30, 2023 | 0.04 | 0.20 | 0.34 | 1.64 | 0.47 | 2.02 | 0.61 | 0.30 | 0.50 | 0.71 | 0.66 |
| Dec 31, 2022 | 0.05 | 0.18 | 0.45 | 1.74 | 0.41 | 4.75 | 0.80 | 0.14 | 0.41 | 0.86 | 0.60 |
| Dec 25, 2021 | 0.04 | 0.18 | 0.45 | 1.59 | 0.40 | 1.02 | 0.83 | 0.15 | 0.41 | 1.58 | 0.58 |
| Dec 26, 2020 | 0.06 | 0.43 | 0.52 | 1.72 | 0.45 | 1.30 | 1.12 | 0.17 | 0.16 | 2.59 | 0.74 |
| Dec 28, 2019 | 0.17 | 0.47 | 0.65 | 1.32 | 0.37 | 1.29 | 0.96 | 0.16 | 0.21 | 3.25 | 0.65 |
| Dec 29, 2018 | 0.99 | 0.58 | 0.78 | 0.66 | 0.35 | 1.38 | 0.37 | 0.14 | 0.27 | 17.64 | 0.56 |
| Dec 30, 2017 | 2.28 | 0.77 | 0.57 | 0.87 | 0.39 | 2.21 | 0.40 | 0.60 | 0.48 | 0.71 | 0.39 |
| Dec 31, 2016 | 3.45 | 0.34 | 0.46 | 0.72 | 0.38 | 4.44 | 0.74 | 0.82 | 0.32 | 0.37 | 0.34 |
| Dec 26, 2015 | — | 0.17 | 0.60 | 0.84 | 0.37 | 7.57 | 0.46 | 0.60 | 0.32 | 0.35 | 0.41 |
| Dec 27, 2014 | 11.83 | 0.18 | 0.25 | 1.70 | 0.25 | 0.20 | 0.27 | 0.61 | 0.31 | 0.00 | 0.45 |
| Dec 28, 2013 | 3.78 | 0.18 | 0.27 | 0.00 | 0.23 | 0.21 | 0.29 | 0.66 | 0.00 | 0.00 | 0.48 |
| Dec 29, 2012 | 3.80 | 0.20 | 0.27 | 0.00 | 0.26 | 0.23 | 0.25 | 0.42 | 0.01 | 0.00 | 0.52 |
| Dec 31, 2011 | 1.27 | 0.23 | 0.22 | 0.00 | 0.16 | 0.26 | 0.30 | 0.24 | 0.01 | 0.04 | 0.51 |
| Dec 25, 2010 | 2.39 | 0.13 | 0.03 | 0.15 | 0.04 | 0.33 | 0.01 | 0.29 | 0.01 | 0.05 | 0.00 |
| Dec 26, 2009 | 7.30 | 0.00 | 0.03 | 0.57 | 0.05 | 0.34 | 0.03 | 0.67 | 0.01 | 0.00 | 0.00 |
| Dec 27, 2008 | — | 0.00 | 0.03 | — | 0.05 | 0.25 | 0.17 | 0.44 | 0.00 | 0.00 | 0.00 |
| Dec 29, 2007 | 1.76 | 0.00 | 0.03 | — | 0.05 | 0.00 | 0.21 | 0.31 | 0.00 | 0.00 | 0.00 |
| Dec 31, 2006 | 0.66 | 0.00 | 0.06 | — | 0.06 | 0.00 | 0.25 | 0.07 | 0.00 | 0.00 | 0.00 |
| Dec 25, 2005 | 0.41 | 0.00 | 0.05 | — | 0.07 | 0.00 | 0.00 | 0.20 | 0.00 | 0.00 | 0.06 |
Based on: 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).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
Advanced Micro Devices Inc., debt to equity, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Advanced Micro Devices Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Dec 28, 2024 | 0.03 | 0.46 |
| Dec 30, 2023 | 0.04 | 0.47 |
| Dec 31, 2022 | 0.05 | 0.43 |
| Dec 25, 2021 | 0.04 | 0.50 |
| Dec 26, 2020 | 0.06 | 0.62 |
| Dec 28, 2019 | 0.17 | 0.58 |
| Dec 29, 2018 | 0.99 | 0.50 |
| Dec 30, 2017 | 2.28 | 0.57 |
| Dec 31, 2016 | 3.45 | 0.49 |
| Dec 26, 2015 | — | 0.45 |
| Dec 27, 2014 | 11.83 | 0.27 |
| Dec 28, 2013 | 3.78 | 0.22 |
| Dec 29, 2012 | 3.80 | 0.22 |
| Dec 31, 2011 | 1.27 | 0.19 |
| Dec 25, 2010 | 2.39 | 0.09 |
| Dec 26, 2009 | 7.30 | 0.12 |
| Dec 27, 2008 | — | 0.12 |
| Dec 29, 2007 | 1.76 | 0.11 |
| Dec 31, 2006 | 0.66 | 0.08 |
| Dec 25, 2005 | 0.41 | 0.07 |
Based on: 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).
Comparison to Industry (Information Technology)
Advanced Micro Devices Inc., debt to equity, long-term trends, comparison to industry (information technology)
| Advanced Micro Devices Inc. | Information Technology | |
|---|---|---|
| Dec 28, 2024 | 0.03 | 0.61 |
| Dec 30, 2023 | 0.04 | 0.66 |
| Dec 31, 2022 | 0.05 | 0.70 |
| Dec 25, 2021 | 0.04 | 0.83 |
| Dec 26, 2020 | 0.06 | 0.97 |
| Dec 28, 2019 | 0.17 | 0.98 |
| Dec 29, 2018 | 0.99 | 0.83 |
| Dec 30, 2017 | 2.28 | 0.81 |
| Dec 31, 2016 | 3.45 | 0.66 |
| Dec 26, 2015 | — | 0.56 |
| Dec 27, 2014 | 11.83 | 0.39 |
| Dec 28, 2013 | 3.78 | 0.29 |
| Dec 29, 2012 | 3.80 | 0.25 |
| Dec 31, 2011 | 1.27 | 0.27 |
| Dec 25, 2010 | 2.39 | 0.25 |
| Dec 26, 2009 | 7.30 | 0.26 |
| Dec 27, 2008 | — | 0.29 |
| Dec 29, 2007 | 1.76 | 0.27 |
| Dec 31, 2006 | 0.66 | 0.20 |
| Dec 25, 2005 | 0.41 | 0.15 |
Based on: 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).