Stock Analysis on Net
Stock Analysis on Net

Advanced Micro Devices Inc. (NASDAQ:AMD)

Price to FCFE (P/FCFE)

Intermediate level


Free Cash Flow to Equity (FCFE)

Advanced Micro Devices Inc., FCFE calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 26, 2015
Net income (loss) 341  337  43  (497) (660)
Net noncash charges 694  424  289  407  321 
Changes in operating assets and liabilities (542) (727) (264) 180  113 
Net cash provided by (used in) operating activities 493  34  68  90  (226)
Purchases of property and equipment (217) (163) (113) (77) (96)
Proceeds from issuance of convertible senior notes, net of issuance costs —  —  —  782  — 
Proceeds from (repayments of) short-term debt (70) —  70  (230) 100 
Payments to extinguish long-term debt (403) (41) (110) (1,113) (44)
Free cash flow to equity (FCFE) (197) (170) (85) (548) (266)

Based on: 10-K (filing date: 2020-02-04), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-18).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Advanced Micro Devices Inc.’s equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Advanced Micro Devices Inc.’s FCFE decreased from 2017 to 2018 and from 2018 to 2019.

Price to FCFE Ratio, Current

Advanced Micro Devices Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
No. shares of common stock outstanding 1,174,056,713
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) (197)
FCFE per share -0.17
Current share price (P) 74.93
Valuation Ratio
P/FCFE
Benchmarks
P/FCFE, Competitors1
Analog Devices Inc. 37.62
Apple Inc. 35.77
Applied Materials Inc. 18.28
Broadcom Inc. 6.44
Cisco Systems Inc. 36.28
Intel Corp. 11.99
Lam Research Corp. 13.85
Micron Technology Inc. 15.58
NVIDIA Corp. 70.42
Qualcomm Inc. 21.18
Texas Instruments Inc. 19.41
P/FCFE, Sector
Technology Hardware & Equipment 23.97
P/FCFE, Industry
Technology 27.52

Based on: 10-K (filing date: 2020-02-04).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

Advanced Micro Devices Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 26, 2015
No. shares of common stock outstanding1 1,169,661,536 1,005,298,882 969,110,191 940,758,118 793,248,190
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 (197) (170) (85) (548) (266)
FCFE per share3 -0.17 -0.17 -0.09 -0.58 -0.34
Share price1, 4 49.45 23.05 12.53 14.00 1.91
Valuation Ratio
P/FCFE5
Benchmarks
P/FCFE, Competitors6
Analog Devices Inc. 37.52 50.53 4.66 11.17 25.01
Apple Inc. 21.64 14.82 11.05 8.20 6.70
Applied Materials Inc. 19.53 10.21 10.60 35.38 6.20
Broadcom Inc. 5.62 13.28 11.06 6.67 2,157.85
Cisco Systems Inc. 14.83 44.19 8.62 10.13 8.42
Intel Corp. 16.55 18.10 21.34 12.86 6.39
Lam Research Corp. 6.14 14.02 141.80 4.72 7.22
Micron Technology Inc. 13.92 11.22 16.93
NVIDIA Corp. 30.19 69.82 21.54 16.33 15.91
Qualcomm Inc. 16.39 5.55 12.64 5.86
Texas Instruments Inc. 18.77 14.27 19.88 21.53 16.40
P/FCFE, Sector
Technology Hardware & Equipment 17.14 19.64 11.34 10.00 7.39
P/FCFE, Industry
Technology 21.30 23.80 13.64 12.91 10.32

Based on: 10-K (filing date: 2020-02-04), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-18).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2019 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= -197,000,000 ÷ 1,169,661,536 = -0.17

4 Closing price as at the filing date of Advanced Micro Devices Inc.’s Annual Report.

5 2019 Calculation
P/FCFE = Share price ÷ FCFE per share
= 49.45 ÷ -0.17 =

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity.