Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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Historical Valuation Ratios (Summary)
Advanced Micro Devices Inc., historical price multiples (quarterly data)
Based on: 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).
- Price to Earnings (P/E) Ratio Trends
- The P/E ratio exhibited a generally increasing trend from March 2021 through June 2022, rising from approximately 35.41 to 50.59. It then decreased to 41.59 in September 2022 before sharply spiking to 96.16 in December 2022. The ratio reached an extreme peak of 839.13 in the unspecified quarter following December 2022, indicating a substantial increase in market valuation relative to earnings. Subsequent quarters saw the P/E ratio decline progressively to about 73.07 by June 2025, with some fluctuations observed. This consistent volatility suggests fluctuating investor sentiment or earnings volatility in the periods analyzed.
- Price to Operating Profit (P/OP) Ratio Trends
- Initially, the P/OP ratio showed a decline from 55.06 in March 2021 to 39.48 in December 2021, reflecting improved operating profitability relative to price. The ratio increased again to 43.6 in June 2022, then sharply decreased to 36.08 in September 2022. A significant surge to 100.42 was recorded in December 2022, followed by an even more pronounced rise to 782.37 in one of the subsequent quarters. The ratio then decreased gradually, settling at approximately 116.77 by June 2025. The fluctuation signals irregular operating profit performance or variations in pricing, with the extreme peaks potentially indicating extraordinary market valuation or profit impacts.
- Price to Sales (P/S) Ratio Trends
- The Price to Sales ratio began near 8.94 in March 2021, with minor fluctuations around this level until June 2022. A notable decline to 4.14 occurred by September 2022, marking the lowest point in the period. Subsequently, the ratio increased to a peak of 11.95 in December 2023, before descending steadily to 5.86 by June 2025. These changes suggest shifts in market valuation in relation to revenue generation, with the rise and fall indicating varying investor perceptions of sales growth or market conditions.
- Price to Book Value (P/BV) Ratio Trends
- The P/BV ratio experienced considerable volatility. It started high at 15.76 in March 2021, increased to 20.69 by September 2021, then dropped sharply to a low of 1.73 by September 2022. This drastic decline indicates a significant increase in book value relative to price or a reevaluation of assets. After this low, the ratio climbed gradually to around 4.85 in December 2023, then fluctuated moderately, ending near 4.44 in June 2025. This trend suggests substantial changes in the company's asset base or market valuation of equity during the interval.
Price to Earnings (P/E)
Advanced Micro Devices Inc., historical P/E calculation (quarterly data)
| Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Sep 24, 2022 | Jun 25, 2022 | Mar 26, 2022 | Dec 25, 2021 | Sep 25, 2021 | Jun 26, 2021 | Mar 27, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net income (loss) (in millions) | ||||||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||
Based on: 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (Net income (loss)Q2 2025
+ Net income (loss)Q1 2025
+ Net income (loss)Q4 2024
+ Net income (loss)Q3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Advanced Micro Devices Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The share price of the company exhibited notable volatility over the analyzed periods. Initially, it increased steadily from $84.02 in the first quarter of 2021 to a peak of $122.28 in the third quarter of 2021. Subsequently, there was a decline reaching a low of $58.63 by the third quarter of 2022. Post this trough, the share price experienced a recovery and a series of fluctuations, peaking again at $167.69 in the fourth quarter of 2023 before facing another decline and then rising towards the end of the period examined, finishing at $163.12 by the second quarter of 2025.
Earnings per share (EPS) showed a general downward trend from the first quarter of 2021 through the second quarter of 2022, declining from $2.37 to a low approaching zero and briefly turning negative in the second quarter of 2023. From that nadir, EPS demonstrated a recovery phase, consistently improving through to the second quarter of 2025, reaching $1.75. This recovery trend suggests improving profitability after a period of contraction.
The price-to-earnings (P/E) ratio experienced extreme fluctuations corresponding inversely to changes in EPS and share price. Starting at a relatively moderate 35.41, the ratio climbed sharply, reaching very high values exceeding 300 and even above 800 during periods when EPS was at or near zero and when share prices did not fall proportionally. This indicates a period of overvaluation or market uncertainty. The P/E ratio then decreased but remained elevated compared to the beginning of the period, settling around 93.41 by the second quarter of 2025. These elevated ratios reflect market expectations of future earnings growth despite recent earnings weakness.
- Share Price Trends
- Peaked in Q3 2021, dropped to a significant low by Q3 2022, followed by a volatile recovery and higher peak by Q4 2023, finishing strong in mid-2025.
- Earnings Per Share (EPS) Trends
- Declined steadily until Q2 2023, including a period of negative EPS, then showed continuous improvement through Q2 2025.
- Price-to-Earnings (P/E) Ratio Trends
- Increased sharply as EPS declined, with extreme peaks indicating high valuation said to market uncertainty; gradually decreased but remained elevated, suggesting cautious optimism.
Price to Operating Profit (P/OP)
Advanced Micro Devices Inc., historical P/OP calculation (quarterly data)
| Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Sep 24, 2022 | Jun 25, 2022 | Mar 26, 2022 | Dec 25, 2021 | Sep 25, 2021 | Jun 26, 2021 | Mar 27, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Operating income (loss) (in millions) | ||||||||||||||||||||||||
| Operating profit per share2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/OP ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||
Based on: 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Operating income (loss)Q2 2025
+ Operating income (loss)Q1 2025
+ Operating income (loss)Q4 2024
+ Operating income (loss)Q3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Advanced Micro Devices Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The analyzed company’s quarterly financial data illustrates notable fluctuations in share price, operating profit per share, and the price-to-operating profit (P/OP) ratio over the reported periods.
- Share Price Trends
- The share price showed an overall upward trajectory from March 2021, beginning at 84.02 US$, reaching a peak of 167.69 US$ in December 2023. This increase reflects appreciation in market value over the three-year span. However, volatility is evident with notable declines at certain quarters, such as a drop from 99.42 US$ in March 2022 to 58.63 US$ in September 2022. Subsequent quarters demonstrated recovery and further appreciation, though late 2024 witnessed another decline before share price rose substantially again by mid-2025.
- Operating Profit Per Share Trends
- The operating profit per share increased steadily in 2021, peaking at 3.04 US$ in December of that year. Beginning in 2022, a downward trend became apparent, reaching a low of -0.23 US$ in July 2023, indicating a loss in operating profit during that quarter. Following this trough, the operating profit per share shows a gradual recovery through 2024 and into mid-2025, returning to positive territory and reaching 1.65 US$ in March 2025, before a slight decrease in June 2025.
- Price-to-Operating Profit (P/OP) Ratio Patterns
- The P/OP ratio fluctuations correspond closely with changes observed in share price and operating profit per share. Throughout 2021 and early 2022, the ratio remained relatively moderate, ranging mostly between 36 and 55. The ratio surged drastically in late 2022 and into 2023, peaking at extremely high values exceeding 700, reflecting a disconnect caused by sharply reduced operating profits amidst fluctuating share prices. Missing values in some quarters suggest data volatility or calculation anomalies due to negative or near-zero operating profits. The ratio gradually reverted to lower yet still elevated levels by mid-2025, indicating improving operating profit relative to share price.
Overall, the data reveals cycles of strong growth followed by periods of financial strain, particularly around mid-2022 to mid-2023, with operating profit challenges contributing to elevated valuation multiples. The recent quarters suggest a phase of recovery with improving operating profitability and more stabilized valuation metrics, although share price volatility persists. This dynamic pattern underscores the company's exposure to market and operational factors influencing both profitability and investor valuation.
Price to Sales (P/S)
Advanced Micro Devices Inc., historical P/S calculation (quarterly data)
| Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Sep 24, 2022 | Jun 25, 2022 | Mar 26, 2022 | Dec 25, 2021 | Sep 25, 2021 | Jun 26, 2021 | Mar 27, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net revenue (in millions) | ||||||||||||||||||||||||
| Sales per share2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/S ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||
Based on: 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (Net revenueQ2 2025
+ Net revenueQ1 2025
+ Net revenueQ4 2024
+ Net revenueQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Advanced Micro Devices Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited considerable volatility over the observed periods. Starting at $84.02, it rose to a peak of $122.28 in September 2021. Afterward, a notable decline occurred, reaching a low of $58.63 in September 2022. Following this dip, the price recovered significantly, achieving an all-time high of $167.69 in December 2023. Subsequent values showed fluctuations but generally remained elevated, with a slight downward trend toward mid-2025, ending at approximately $163.12.
- Sales Per Share Progression
- Sales per share displayed a steady upward trajectory throughout the periods. Beginning at $9.40, sales increased consistently with minor fluctuations, reaching $18.24 by June 2025. This trend indicates sustained growth in revenue on a per-share basis, highlighting an improving fundamental performance in sales.
- Price-to-Sales (P/S) Ratio Analysis
- The P/S ratio exhibited considerable variability, reflecting shifts in valuation relative to sales performance. Initially, the ratio hovered around the high 8s to mid-9s, peaking at 9.94 in September 2021. Subsequently, the ratio experienced a steep decline to 4.14 in September 2022, coinciding with the drop in share price. Following this low, there was a marked increase, with the ratio surpassing 10 in December 2023, implying heightened market valuation relative to sales. The P/S ratio tapered somewhat afterward but remained elevated compared to earlier periods, suggesting a robust valuation environment despite fluctuations.
- Overall Observations
- The data reveals a pattern of initial share price growth accompanied by rising sales per share, followed by a mid-term correction in market valuation and price levels. Recovery periods display strong rebounds in share price and valuation ratios, while sales per share steadily improved throughout. The combination of share price recovery and sales growth results in fluctuating but generally resilient P/S ratios, indicating market responsiveness to fundamental revenue growth alongside broader valuation shifts.
Price to Book Value (P/BV)
Advanced Micro Devices Inc., historical P/BV calculation (quarterly data)
| Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Sep 24, 2022 | Jun 25, 2022 | Mar 26, 2022 | Dec 25, 2021 | Sep 25, 2021 | Jun 26, 2021 | Mar 27, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Stockholders’ equity (in millions) | ||||||||||||||||||||||||
| Book value per share (BVPS)2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/BV ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||
Based on: 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Advanced Micro Devices Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited significant volatility over the observed periods. Initially, it increased steadily from $84.02 to a peak of $122.28 by September 2021. Following this peak, there was a decline, reaching a low of $58.63 in September 2022. Subsequently, the price recovered, attaining a high of $167.69 in December 2023. After this peak, the price showed fluctuations, declining to $100.36 by June 2025 before rising again to $163.12 in the latest period.
- Book Value Per Share (BVPS)
- The book value per share remained relatively stable and consistent from March 2021 through December 2021, gradually increasing from $5.33 to $6.25. From March 2022 onward, a significant jump occurred, with BVPS increasing sharply to around $34.15 and maintaining a steady upward trend throughout the subsequent periods, ending at $36.77 in June 2025. This suggests a substantial improvement in the company's net asset value per share during the latter periods.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio showed a marked decrease from a very high level in the early periods, dropping from 15.76 in March 2021 to a low of 1.73 in September 2022. This decline corresponds with the sharp increase in BVPS and the fluctuating share price. Post-September 2022, the P/BV ratio rose again, peaking at 4.85 in December 2023, before settling around 4.44 by June 2025. This pattern indicates that the market valuation relative to book value was initially very elevated, normalized as book value increased, and then experienced moderate expansion in market valuation relative to book value in recent periods.
- Overall Insights
- The data reveal a phase of rapid increase in intrinsic value as reflected in BVPS starting early 2022, coinciding with a period of share price fluctuations and adjustments in market valuation. The notably high initial P/BV ratios suggest the market was pricing in expectations beyond the book value early on, but as the book value rose substantially, the ratio normalized before experiencing moderate volatility again. The dynamic share price movements combined with stable and increasing book value denote a period of transformation and potentially increased financial strength, while market sentiment has reacted variably throughout the timeline.