Stock Analysis on Net

Advanced Micro Devices Inc. (NASDAQ:AMD) 

Analysis of Solvency Ratios

Microsoft Excel

Solvency Ratios (Summary)

Advanced Micro Devices Inc., solvency ratios

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Debt Ratios
Debt to equity 0.04 0.05 0.04 0.06 0.17
Debt to equity (including operating lease liability) 0.06 0.05 0.10 0.10 0.26
Debt to capital 0.04 0.04 0.04 0.05 0.15
Debt to capital (including operating lease liability) 0.05 0.05 0.09 0.09 0.20
Debt to assets 0.04 0.04 0.03 0.04 0.08
Debt to assets (including operating lease liability) 0.05 0.04 0.06 0.06 0.12
Financial leverage 1.21 1.23 1.66 1.54 2.13
Coverage Ratios
Interest coverage 5.79 14.61 109.09 28.23 4.96
Fixed charge coverage 3.18 6.82 36.00 13.08 3.48

Based on: 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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Advanced Micro Devices Inc. debt to equity ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Advanced Micro Devices Inc. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Advanced Micro Devices Inc. debt to capital ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Advanced Micro Devices Inc. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Advanced Micro Devices Inc. debt to assets ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Advanced Micro Devices Inc. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Advanced Micro Devices Inc. financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Advanced Micro Devices Inc. interest coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Advanced Micro Devices Inc. fixed charge coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Debt to Equity

Advanced Micro Devices Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt, net 751 312
Long-term debt, net of current portion 1,717 2,467 1 330 486
Total debt 2,468 2,467 313 330 486
 
Stockholders’ equity 55,892 54,750 7,497 5,837 2,827
Solvency Ratio
Debt to equity1 0.04 0.05 0.04 0.06 0.17
Benchmarks
Debt to Equity, Competitors2
Analog Devices Inc. 0.20 0.18 0.18 0.43 0.47
Applied Materials Inc. 0.35 0.45 0.45 0.52 0.65
Broadcom Inc. 1.64 1.74 1.59 1.72 1.32
Enphase Energy Inc. 1.32 1.56 2.41 0.68 0.39
Intel Corp. 0.47 0.41 0.40 0.45 0.37
KLA Corp. 2.02 4.75 1.02 1.30 1.29
Lam Research Corp. 0.61 0.80 0.83 1.12 0.96
Micron Technology Inc. 0.30 0.14 0.15 0.17 0.16
NVIDIA Corp. 0.50 0.41 0.41 0.16 0.21
ON Semiconductor Corp. 0.43 0.52 0.68 0.99 1.09
Qualcomm Inc. 0.71 0.86 1.58 2.59 3.25
Texas Instruments Inc. 0.66 0.60 0.58 0.74 0.65
Debt to Equity, Sector
Semiconductors & Semiconductor Equipment 0.47 0.44 0.51 0.63 0.59
Debt to Equity, Industry
Information Technology 0.63 0.67 0.77 0.88 0.88

Based on: 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).

1 2023 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 2,468 ÷ 55,892 = 0.04

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Advanced Micro Devices Inc. debt to equity ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Debt to Equity (including Operating Lease Liability)

Advanced Micro Devices Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt, net 751 312
Long-term debt, net of current portion 1,717 2,467 1 330 486
Total debt 2,468 2,467 313 330 486
Operating lease liabilities, current portion (included in Other current liabilities) 106 93 71 41 43
Long-term operating lease liabilities 535 396 348 201 199
Total debt (including operating lease liability) 3,109 2,956 732 572 728
 
Stockholders’ equity 55,892 54,750 7,497 5,837 2,827
Solvency Ratio
Debt to equity (including operating lease liability)1 0.06 0.05 0.10 0.10 0.26
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Analog Devices Inc. 0.21 0.19 0.19 0.46 0.47
Applied Materials Inc. 0.37 0.48 0.47 0.54 0.65
Broadcom Inc. 1.65 1.76 1.61 1.75 1.32
Enphase Energy Inc. 1.34 1.59 2.45 0.72 0.43
Intel Corp. 0.47 0.42 0.40 0.46 0.38
KLA Corp. 2.08 4.83 1.05 1.34 1.29
Lam Research Corp. 0.64 0.83 0.86 1.16 0.96
Micron Technology Inc. 0.32 0.15 0.17 0.19 0.16
NVIDIA Corp. 0.54 0.44 0.46 0.22 0.21
ON Semiconductor Corp. 0.47 0.57 0.71 1.03 1.13
Qualcomm Inc. 0.74 0.90 1.64 2.67 3.25
Texas Instruments Inc. 0.70 0.63 0.62 0.77 0.69
Debt to Equity (including Operating Lease Liability), Sector
Semiconductors & Semiconductor Equipment 0.49 0.45 0.52 0.65 0.59
Debt to Equity (including Operating Lease Liability), Industry
Information Technology 0.69 0.73 0.84 0.95 0.90

Based on: 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).

1 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 3,109 ÷ 55,892 = 0.06

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Advanced Micro Devices Inc. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Debt to Capital

Advanced Micro Devices Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt, net 751 312
Long-term debt, net of current portion 1,717 2,467 1 330 486
Total debt 2,468 2,467 313 330 486
Stockholders’ equity 55,892 54,750 7,497 5,837 2,827
Total capital 58,360 57,217 7,810 6,167 3,313
Solvency Ratio
Debt to capital1 0.04 0.04 0.04 0.05 0.15
Benchmarks
Debt to Capital, Competitors2
Analog Devices Inc. 0.16 0.15 0.15 0.30 0.32
Applied Materials Inc. 0.26 0.31 0.31 0.34 0.39
Broadcom Inc. 0.62 0.64 0.61 0.63 0.57
Enphase Energy Inc. 0.57 0.61 0.71 0.41 0.28
Intel Corp. 0.32 0.29 0.29 0.31 0.27
KLA Corp. 0.67 0.83 0.50 0.57 0.56
Lam Research Corp. 0.38 0.44 0.45 0.53 0.49
Micron Technology Inc. 0.23 0.12 0.13 0.15 0.14
NVIDIA Corp. 0.33 0.29 0.29 0.14 0.18
ON Semiconductor Corp. 0.30 0.34 0.40 0.50 0.52
Qualcomm Inc. 0.42 0.46 0.61 0.72 0.76
Texas Instruments Inc. 0.40 0.37 0.37 0.43 0.39
Debt to Capital, Sector
Semiconductors & Semiconductor Equipment 0.32 0.31 0.34 0.39 0.37
Debt to Capital, Industry
Information Technology 0.39 0.40 0.43 0.47 0.47

Based on: 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).

1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 2,468 ÷ 58,360 = 0.04

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Advanced Micro Devices Inc. debt to capital ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Debt to Capital (including Operating Lease Liability)

Advanced Micro Devices Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt, net 751 312
Long-term debt, net of current portion 1,717 2,467 1 330 486
Total debt 2,468 2,467 313 330 486
Operating lease liabilities, current portion (included in Other current liabilities) 106 93 71 41 43
Long-term operating lease liabilities 535 396 348 201 199
Total debt (including operating lease liability) 3,109 2,956 732 572 728
Stockholders’ equity 55,892 54,750 7,497 5,837 2,827
Total capital (including operating lease liability) 59,001 57,706 8,229 6,409 3,555
Solvency Ratio
Debt to capital (including operating lease liability)1 0.05 0.05 0.09 0.09 0.20
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Analog Devices Inc. 0.17 0.16 0.16 0.31 0.32
Applied Materials Inc. 0.27 0.32 0.32 0.35 0.39
Broadcom Inc. 0.62 0.64 0.62 0.64 0.57
Enphase Energy Inc. 0.57 0.61 0.71 0.42 0.30
Intel Corp. 0.32 0.30 0.29 0.31 0.28
KLA Corp. 0.67 0.83 0.51 0.57 0.56
Lam Research Corp. 0.39 0.45 0.46 0.54 0.49
Micron Technology Inc. 0.24 0.13 0.14 0.16 0.14
NVIDIA Corp. 0.35 0.31 0.31 0.18 0.18
ON Semiconductor Corp. 0.32 0.36 0.42 0.51 0.53
Qualcomm Inc. 0.43 0.47 0.62 0.73 0.76
Texas Instruments Inc. 0.41 0.39 0.38 0.44 0.41
Debt to Capital (including Operating Lease Liability), Sector
Semiconductors & Semiconductor Equipment 0.33 0.31 0.34 0.39 0.37
Debt to Capital (including Operating Lease Liability), Industry
Information Technology 0.41 0.42 0.46 0.49 0.47

Based on: 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).

1 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 3,109 ÷ 59,001 = 0.05

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Advanced Micro Devices Inc. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Debt to Assets

Advanced Micro Devices Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt, net 751 312
Long-term debt, net of current portion 1,717 2,467 1 330 486
Total debt 2,468 2,467 313 330 486
 
Total assets 67,885 67,580 12,419 8,962 6,028
Solvency Ratio
Debt to assets1 0.04 0.04 0.03 0.04 0.08
Benchmarks
Debt to Assets, Competitors2
Analog Devices Inc. 0.14 0.13 0.13 0.24 0.26
Applied Materials Inc. 0.18 0.20 0.21 0.24 0.28
Broadcom Inc. 0.54 0.54 0.53 0.54 0.49
Enphase Energy Inc. 0.38 0.42 0.50 0.28 0.15
Intel Corp. 0.26 0.23 0.23 0.24 0.21
KLA Corp. 0.42 0.53 0.34 0.37 0.38
Lam Research Corp. 0.27 0.29 0.31 0.40 0.37
Micron Technology Inc. 0.21 0.10 0.12 0.12 0.12
NVIDIA Corp. 0.27 0.25 0.24 0.11 0.15
ON Semiconductor Corp. 0.25 0.27 0.32 0.40 0.43
Qualcomm Inc. 0.30 0.32 0.38 0.44 0.48
Texas Instruments Inc. 0.35 0.32 0.31 0.35 0.32
Debt to Assets, Sector
Semiconductors & Semiconductor Equipment 0.26 0.24 0.27 0.30 0.29
Debt to Assets, Industry
Information Technology 0.26 0.26 0.28 0.30 0.31

Based on: 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).

1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 2,468 ÷ 67,885 = 0.04

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Advanced Micro Devices Inc. debt to assets ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Debt to Assets (including Operating Lease Liability)

Advanced Micro Devices Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt, net 751 312
Long-term debt, net of current portion 1,717 2,467 1 330 486
Total debt 2,468 2,467 313 330 486
Operating lease liabilities, current portion (included in Other current liabilities) 106 93 71 41 43
Long-term operating lease liabilities 535 396 348 201 199
Total debt (including operating lease liability) 3,109 2,956 732 572 728
 
Total assets 67,885 67,580 12,419 8,962 6,028
Solvency Ratio
Debt to assets (including operating lease liability)1 0.05 0.04 0.06 0.06 0.12
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Analog Devices Inc. 0.15 0.14 0.14 0.25 0.26
Applied Materials Inc. 0.20 0.22 0.22 0.26 0.28
Broadcom Inc. 0.54 0.55 0.53 0.55 0.49
Enphase Energy Inc. 0.39 0.43 0.51 0.29 0.17
Intel Corp. 0.26 0.23 0.23 0.24 0.22
KLA Corp. 0.43 0.54 0.35 0.38 0.38
Lam Research Corp. 0.28 0.30 0.33 0.41 0.37
Micron Technology Inc. 0.22 0.11 0.12 0.13 0.12
NVIDIA Corp. 0.29 0.27 0.27 0.15 0.15
ON Semiconductor Corp. 0.27 0.29 0.34 0.42 0.44
Qualcomm Inc. 0.31 0.33 0.40 0.46 0.48
Texas Instruments Inc. 0.36 0.34 0.33 0.37 0.34
Debt to Assets (including Operating Lease Liability), Sector
Semiconductors & Semiconductor Equipment 0.27 0.25 0.28 0.31 0.29
Debt to Assets (including Operating Lease Liability), Industry
Information Technology 0.28 0.29 0.31 0.33 0.32

Based on: 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).

1 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 3,109 ÷ 67,885 = 0.05

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Advanced Micro Devices Inc. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Financial Leverage

Advanced Micro Devices Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Total assets 67,885 67,580 12,419 8,962 6,028
Stockholders’ equity 55,892 54,750 7,497 5,837 2,827
Solvency Ratio
Financial leverage1 1.21 1.23 1.66 1.54 2.13
Benchmarks
Financial Leverage, Competitors2
Analog Devices Inc. 1.37 1.38 1.38 1.79 1.83
Applied Materials Inc. 1.88 2.19 2.11 2.11 2.32
Broadcom Inc. 3.04 3.23 3.03 3.18 2.71
Enphase Energy Inc. 3.44 3.74 4.83 2.48 2.62
Intel Corp. 1.81 1.80 1.77 1.89 1.76
KLA Corp. 4.82 8.99 3.04 3.48 3.39
Lam Research Corp. 2.29 2.74 2.64 2.81 2.57
Micron Technology Inc. 1.46 1.33 1.34 1.38 1.36
NVIDIA Corp. 1.86 1.66 1.70 1.42 1.42
ON Semiconductor Corp. 1.70 1.94 2.10 2.45 2.55
Qualcomm Inc. 2.37 2.72 4.14 5.86 6.71
Texas Instruments Inc. 1.91 1.87 1.85 2.11 2.02
Financial Leverage, Sector
Semiconductors & Semiconductor Equipment 1.80 1.80 1.90 2.09 2.02
Financial Leverage, Industry
Information Technology 2.44 2.56 2.72 2.90 2.86

Based on: 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).

1 2023 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 67,885 ÷ 55,892 = 1.21

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Advanced Micro Devices Inc. financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.

Interest Coverage

Advanced Micro Devices Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Net income 854 1,320 3,162 2,490 341
Add: Income tax expense (346) (122) 513 (1,210) 31
Add: Interest expense 106 88 34 47 94
Earnings before interest and tax (EBIT) 614 1,286 3,709 1,327 466
Solvency Ratio
Interest coverage1 5.79 14.61 109.09 28.23 4.96
Benchmarks
Interest Coverage, Competitors2
Analog Devices Inc. 14.63 16.46 8.19 7.79 7.49
Applied Materials Inc. 33.42 34.33 29.69 18.36 14.79
Broadcom Inc. 10.31 8.16 4.59 2.37 2.54
Enphase Energy Inc. 59.05 48.90 3.68 6.69 10.30
Intel Corp. 1.87 16.66 37.35 40.87 50.20
KLA Corp. 13.76 22.76 16.00 9.22 11.40
Lam Research Corp. 28.40 29.11 21.95 15.51 21.86
Micron Technology Inc. -13.58 51.66 35.18 16.41 56.09
NVIDIA Corp. 16.96 43.12 24.96 58.12 68.17
ON Semiconductor Corp. 34.90 25.89 9.88 2.05 2.87
Qualcomm Inc. 11.72 31.61 19.38 10.50 12.93
Texas Instruments Inc. 22.01 47.88 49.47 32.67 34.69
Interest Coverage, Sector
Semiconductors & Semiconductor Equipment 10.87 21.37 18.02 13.62 16.40
Interest Coverage, Industry
Information Technology 18.93 24.78 22.87 16.68 15.79

Based on: 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).

1 2023 Calculation
Interest coverage = EBIT ÷ Interest expense
= 614 ÷ 106 = 5.79

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Advanced Micro Devices Inc. interest coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Fixed Charge Coverage

Advanced Micro Devices Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Net income 854 1,320 3,162 2,490 341
Add: Income tax expense (346) (122) 513 (1,210) 31
Add: Interest expense 106 88 34 47 94
Earnings before interest and tax (EBIT) 614 1,286 3,709 1,327 466
Add: Operating lease expense 127 118 71 59 56
Earnings before fixed charges and tax 741 1,404 3,780 1,386 522
 
Interest expense 106 88 34 47 94
Operating lease expense 127 118 71 59 56
Fixed charges 233 206 105 106 150
Solvency Ratio
Fixed charge coverage1 3.18 6.82 36.00 13.08 3.48
Benchmarks
Fixed Charge Coverage, Competitors2
Analog Devices Inc. 11.89 12.87 6.64 6.48 5.62
Applied Materials Inc. 23.69 24.67 22.50 14.48 12.35
Broadcom Inc. 9.81 6.55 3.70 1.92 2.27
Enphase Energy Inc. 27.66 26.60 3.32 5.53 7.56
Intel Corp. 1.59 7.34 16.56 25.00 36.69
KLA Corp. 12.19 18.72 13.03 7.74 10.39
Lam Research Corp. 20.49 21.44 17.80 12.52 17.83
Micron Technology Inc. -9.77 31.49 22.49 11.10 32.90
NVIDIA Corp. 10.19 25.61 14.40 18.89 29.23
ON Semiconductor Corp. 20.57 16.23 7.58 1.82 2.46
Qualcomm Inc. 9.29 22.52 14.48 8.30 10.68
Texas Instruments Inc. 18.41 36.70 36.25 24.14 25.27
Fixed Charge Coverage, Sector
Semiconductors & Semiconductor Equipment 8.62 14.48 12.54 10.11 12.90
Fixed Charge Coverage, Industry
Information Technology 12.68 14.29 13.48 10.19 10.46

Based on: 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).

1 2023 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 741 ÷ 233 = 3.18

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Advanced Micro Devices Inc. fixed charge coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023.