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).
Historical Valuation Ratios (Summary)
Advanced Micro Devices Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2026-06-27), 10-Q (reporting date: 2026-03-28), 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).
The valuation profile is characterized by substantial volatility in earnings-related multiples and a consistent expansion in asset and revenue-based valuations toward the end of the observed period.
- Price to Earnings (P/E) and Price to Operating Profit (P/OP) Ratios
- A highly synchronized pattern of extreme expansion and subsequent contraction is observed in both the P/E and P/OP ratios. After remaining relatively stable during 2022, both metrics experienced a massive surge in 2023; the P/E ratio peaked at 839.13 in September 2023, while the P/OP ratio peaked at 782.37 in April 2023. A general downward trend followed throughout 2024, though the ratios remained significantly elevated compared to 2022 levels, closing at 122.31 for P/E and 121.29 for P/OP by June 2026.
- Price to Sales (P/S) Ratio
- The P/S ratio demonstrated moderate fluctuations between 4.14 and 11.95 from September 2022 through December 2023. A distinct upward trajectory emerged in the latter part of the period, specifically from March 2025 (5.86) through June 2026, where the ratio climbed to 19.05. This indicates a significant increase in the market premium attributed to company revenue over time.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio shows a consistent long-term increase. Following a low of 1.73 in September 2022, the ratio trended steadily upward, with an acceleration occurring in 2025 and 2026. The ratio moved from 2.81 in March 2025 to a peak of 11.71 in June 2026, reflecting a substantial expansion in market valuation relative to the underlying book value.
AI Ask an analyst for more
Price to Earnings (P/E)
Advanced Micro Devices Inc., historical P/E calculation (quarterly data)
| Jun 27, 2026 | Mar 28, 2026 | Dec 27, 2025 | Sep 27, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,632,475,042 | 1,630,600,639 | 1,630,410,843 | 1,628,041,540 | 1,622,843,689 | 1,621,404,195 | 1,620,477,962 | 1,622,807,346 | 1,618,481,845 | 1,616,313,871 | 1,615,786,841 | 1,615,498,891 | 1,615,671,380 | 1,610,361,870 | 1,611,388,217 | 1,612,356,162 | 1,614,320,900 | 1,620,507,904 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net income (loss) (in millions) | 2,297) | 1,383) | 1,511) | 1,243) | 872) | 709) | 482) | 771) | 265) | 123) | 667) | 299) | 27) | (139) | 21) | 66) | 447) | 786) | ||||||
| Earnings per share (EPS)2 | 3.94 | 3.07 | 2.66 | 2.03 | 1.75 | 1.37 | 1.01 | 1.13 | 0.84 | 0.69 | 0.53 | 0.13 | -0.02 | 0.25 | 0.82 | 1.41 | 1.94 | 2.09 | ||||||
| Share price1, 3 | 482.05 | 421.39 | 200.19 | 256.33 | 163.12 | 100.36 | 112.01 | 148.60 | 144.48 | 144.27 | 167.69 | 108.04 | 109.35 | 81.62 | 78.77 | 58.63 | 98.09 | 99.42 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/E ratio4 | 122.31 | 137.18 | 75.29 | 126.23 | 93.41 | 73.07 | 110.61 | 132.06 | 172.70 | 208.95 | 317.27 | 839.13 | — | 332.75 | 96.16 | 41.59 | 50.59 | 47.48 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||
| Analog Devices Inc. | 58.51 | 62.47 | 54.43 | 61.53 | 57.43 | 76.64 | 66.48 | 68.22 | 55.68 | 34.12 | 27.14 | 23.57 | 23.96 | 28.93 | 31.21 | 46.35 | 50.61 | 68.72 | ||||||
| Applied Materials Inc. | 39.88 | 37.44 | 29.37 | 18.64 | 19.06 | 22.54 | 19.20 | 22.15 | 24.70 | 23.55 | 19.63 | 18.50 | 17.61 | 14.79 | 13.55 | 13.59 | 14.82 | 17.99 | ||||||
| Broadcom Inc. | 63.64 | 64.76 | 67.63 | 92.18 | 92.09 | 90.66 | 175.56 | 145.09 | 76.08 | 50.29 | 36.78 | 25.96 | 24.11 | 20.92 | 20.70 | 21.10 | 26.03 | 31.86 | ||||||
| Intel Corp. | — | — | — | 897.15 | — | — | — | — | 94.20 | 33.38 | 109.27 | — | — | — | 14.54 | 9.02 | 7.80 | 7.24 | ||||||
| KLA Corp. | 41.06 | 37.48 | 29.72 | 24.20 | 30.58 | 30.04 | 34.24 | 36.43 | 29.95 | 20.06 | 20.04 | 15.12 | 15.62 | 13.89 | 16.89 | 15.13 | 18.51 | 19.76 | ||||||
| Lam Research Corp. | 49.88 | 32.79 | 24.09 | 19.61 | 24.23 | 23.93 | 27.05 | 33.64 | 32.06 | 19.89 | 19.26 | 14.05 | 12.60 | 10.51 | 13.77 | 13.97 | 17.91 | 18.12 | ||||||
| Micron Technology Inc. | 20.78 | 23.49 | 24.69 | 22.65 | 22.66 | 25.00 | 145.72 | — | — | — | — | — | 43.16 | 8.72 | 6.62 | 5.97 | 9.80 | 14.54 | ||||||
| NVIDIA Corp. | 50.96 | 42.84 | 43.95 | 56.64 | 58.13 | 66.31 | 56.68 | 65.31 | 112.05 | 200.72 | 131.70 | 63.65 | 48.55 | 49.72 | 68.08 | 97.36 | 73.53 | 73.45 | ||||||
| Qualcomm Inc. | 16.57 | 29.61 | 34.74 | 14.82 | 14.76 | 18.43 | 18.95 | 23.14 | 21.84 | 21.35 | 17.07 | 16.75 | 11.92 | 12.87 | 9.75 | 13.40 | 13.56 | 21.24 | ||||||
| Texas Instruments Inc. | 42.19 | 47.00 | 40.19 | 31.02 | 34.52 | 30.23 | 34.72 | 37.07 | 34.08 | 26.94 | 22.24 | 18.13 | 20.79 | 18.08 | 18.88 | 16.05 | 18.27 | 19.01 | ||||||
Based on: 10-Q (reporting date: 2026-06-27), 10-Q (reporting date: 2026-03-28), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
EPS
= (Net income (loss)Q2 2026
+ Net income (loss)Q1 2026
+ Net income (loss)Q4 2025
+ Net income (loss)Q3 2025)
÷ No. shares of common stock outstanding
= (2,297,000,000 + 1,383,000,000 + 1,511,000,000 + 1,243,000,000)
÷ 1,632,475,042 = 3.94
3 Closing price as at the filing date of Advanced Micro Devices Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/E ratio = Share price ÷ EPS
= 482.05 ÷ 3.94 = 122.31
5 Click competitor name to see calculations.
The financial data indicates a period of significant volatility in valuation metrics, characterized by a sharp contraction in earnings followed by a sustained recovery in both profitability and market valuation.
- Earnings Per Share (EPS) Trends
- A pronounced downward trend in earnings is observed from March 2022, when EPS stood at $2.09, reaching a nadir of -$0.02 in July 2023. Following this low point, a consistent recovery phase began, with EPS steadily increasing throughout 2024 and 2025, ultimately reaching $3.94 by June 2026. This represents a full recovery and expansion beyond previous historical peaks.
- Share Price Evolution
- The share price exhibited substantial fluctuations, declining to a low of $58.63 in September 2022 before entering a multi-year growth cycle. A period of accelerated appreciation is evident between March 2026 and June 2026, where the price moved from $421.39 to a peak of $482.05, suggesting strong market confidence during the latter stage of the analyzed period.
- Price-to-Earnings (P/E) Ratio Dynamics
- The P/E ratio experienced extreme expansion during the earnings trough of 2023, peaking at 839.13 in September 2023. This anomaly resulted from the share price remaining relatively resilient while earnings approached zero. As EPS recovered in 2024, the ratio underwent a normalization process, dropping to 73.07 by March 2024. For the remainder of the period, the P/E ratio fluctuated between approximately 75 and 137, indicating that while the share price continued to rise, it was increasingly supported by fundamental earnings growth.
AI Ask an analyst for more
Price to Operating Profit (P/OP)
Advanced Micro Devices Inc., historical P/OP calculation (quarterly data)
| Jun 27, 2026 | Mar 28, 2026 | Dec 27, 2025 | Sep 27, 2025 | Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Sep 24, 2022 | Jun 25, 2022 | Mar 26, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,632,475,042 | 1,630,600,639 | 1,630,410,843 | 1,628,041,540 | 1,622,843,689 | 1,621,404,195 | 1,620,477,962 | 1,622,807,346 | 1,618,481,845 | 1,616,313,871 | 1,615,786,841 | 1,615,498,891 | 1,615,671,380 | 1,610,361,870 | 1,611,388,217 | 1,612,356,162 | 1,614,320,900 | 1,620,507,904 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Operating income (loss) (in millions) | 1,990) | 1,476) | 1,752) | 1,270) | (134) | 806) | 871) | 724) | 269) | 36) | 342) | 224) | (20) | (145) | (149) | (64) | 526) | 951) | ||||||
| Operating profit per share2 | 3.97 | 2.68 | 2.27 | 1.73 | 1.40 | 1.65 | 1.17 | 0.84 | 0.54 | 0.36 | 0.25 | -0.06 | -0.23 | 0.10 | 0.78 | 1.62 | 2.25 | 2.43 | ||||||
| Share price1, 3 | 482.05 | 421.39 | 200.19 | 256.33 | 163.12 | 100.36 | 112.01 | 148.60 | 144.48 | 144.27 | 167.69 | 108.04 | 109.35 | 81.62 | 78.77 | 58.63 | 98.09 | 99.42 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/OP ratio4 | 121.29 | 157.45 | 88.36 | 148.35 | 116.77 | 60.95 | 95.53 | 175.89 | 268.47 | 400.66 | 675.69 | — | — | 782.37 | 100.42 | 36.08 | 43.60 | 40.92 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||
| Analog Devices Inc. | 46.83 | 49.18 | 42.08 | 47.12 | 47.16 | 61.84 | 53.48 | 53.84 | 46.99 | 29.30 | 23.53 | 20.61 | 20.41 | 24.53 | 26.16 | 38.46 | 41.74 | 55.30 | ||||||
| Applied Materials Inc. | 40.89 | 36.94 | 24.80 | 14.77 | 15.46 | 17.71 | 17.52 | 21.18 | 23.58 | 22.03 | 17.58 | 15.53 | 14.65 | 12.26 | 11.35 | 11.57 | 12.68 | 15.55 | ||||||
| Broadcom Inc. | 56.98 | 58.20 | 61.37 | 77.21 | 58.02 | 51.77 | 76.87 | 56.53 | 59.46 | 41.23 | 31.96 | 22.57 | 20.66 | 17.32 | 16.33 | 16.17 | 20.04 | 24.51 | ||||||
| Intel Corp. | — | — | — | — | — | — | — | — | — | 275.84 | 1,984.43 | — | — | — | 49.91 | 14.19 | 10.76 | 8.87 | ||||||
| KLA Corp. | 34.97 | 31.81 | 25.28 | 20.32 | 25.57 | 24.98 | 28.26 | 29.78 | 24.43 | 16.45 | 16.99 | 12.79 | 13.23 | 11.55 | 15.36 | 14.02 | 17.40 | 19.37 | ||||||
| Lam Research Corp. | 44.64 | 29.46 | 21.88 | 17.28 | 21.76 | 21.55 | 24.29 | 30.42 | 28.60 | 17.56 | 16.79 | 11.92 | 10.68 | 8.94 | 11.79 | 12.15 | 15.75 | 15.79 | ||||||
| Micron Technology Inc. | 17.83 | 20.37 | 21.58 | 18.46 | 17.11 | 21.07 | 86.94 | — | — | — | — | — | 34.54 | 7.86 | 5.93 | 5.31 | 8.90 | 13.31 | ||||||
| NVIDIA Corp. | 45.98 | 38.17 | 39.33 | 50.30 | 51.71 | 59.17 | 51.16 | 59.84 | 107.15 | 213.98 | 136.19 | 63.84 | 46.92 | 47.25 | 66.12 | 93.15 | 71.25 | 70.98 | ||||||
| Qualcomm Inc. | 14.48 | 13.06 | 15.58 | 14.28 | 14.20 | 18.18 | 19.08 | 22.65 | 21.54 | 20.09 | 15.85 | 14.36 | 9.90 | 10.47 | 7.95 | 11.41 | 11.80 | 19.06 | ||||||
| Texas Instruments Inc. | 35.20 | 38.76 | 33.37 | 26.40 | 29.91 | 26.77 | 30.49 | 32.74 | 30.38 | 23.82 | 19.75 | 16.15 | 18.24 | 15.69 | 16.29 | 13.69 | 15.53 | 16.30 | ||||||
Based on: 10-Q (reporting date: 2026-06-27), 10-Q (reporting date: 2026-03-28), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
Operating profit per share
= (Operating income (loss)Q2 2026
+ Operating income (loss)Q1 2026
+ Operating income (loss)Q4 2025
+ Operating income (loss)Q3 2025)
÷ No. shares of common stock outstanding
= (1,990,000,000 + 1,476,000,000 + 1,752,000,000 + 1,270,000,000)
÷ 1,632,475,042 = 3.97
3 Closing price as at the filing date of Advanced Micro Devices Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 482.05 ÷ 3.97 = 121.29
5 Click competitor name to see calculations.
The valuation trajectory from March 2022 through June 2026 is characterized by a period of extreme volatility in the Price to Operating Profit (P/OP) ratio, driven by a significant cyclical downturn in operating profitability followed by a robust recovery and an aggressive expansion in share price.
- Operating Profitability Trends
- Operating profit per share exhibited a sharp decline starting in early 2022, falling from 2.43 USD to a trough of -0.23 USD by July 2023. This contraction led to a period of negative or negligible operating earnings throughout mid-2023. However, a consistent recovery phase began in late 2023, with operating profit per share climbing steadily from 0.25 USD in December 2023 to a peak of 3.97 USD by June 2026.
- Share Price Evolution
- The share price experienced substantial fluctuations, initially dropping from 99.42 USD to 58.63 USD in September 2022. After a period of moderate recovery in 2023 and 2024, the stock entered a phase of rapid appreciation starting in early 2025. This growth culminated in a significant increase to 482.05 USD by June 2026, representing a substantial expansion in market valuation.
- P/OP Ratio Dynamics
- The P/OP ratio demonstrated extreme sensitivity to the decline in operating profits during 2023, spiking to a high of 782.37 as profits approached zero. This indicated a valuation based heavily on future growth expectations rather than current operational performance. As operating profits recovered throughout 2024, the ratio normalized, reaching a low of 60.95 in December 2024.
- Correlation and Valuation Normalization
- In the final period between January 2025 and June 2026, the P/OP ratio fluctuated between 60.95 and 157.45. While share prices grew aggressively, the simultaneous increase in operating profit per share prevented the ratio from returning to the extreme levels seen in 2023. The final reading of 121.29 suggests a valuation that remains high relative to 2022 levels, reflecting sustained market optimism and a higher baseline for operational earnings.
AI Ask an analyst for more
Price to Sales (P/S)
Advanced Micro Devices Inc., historical P/S calculation (quarterly data)
| Jun 27, 2026 | Mar 28, 2026 | Dec 27, 2025 | Sep 27, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,632,475,042 | 1,630,600,639 | 1,630,410,843 | 1,628,041,540 | 1,622,843,689 | 1,621,404,195 | 1,620,477,962 | 1,622,807,346 | 1,618,481,845 | 1,616,313,871 | 1,615,786,841 | 1,615,498,891 | 1,615,671,380 | 1,610,361,870 | 1,611,388,217 | 1,612,356,162 | 1,614,320,900 | 1,620,507,904 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net revenue (in millions) | 11,536) | 10,253) | 10,270) | 9,246) | 7,685) | 7,438) | 7,658) | 6,819) | 5,835) | 5,473) | 6,168) | 5,800) | 5,359) | 5,353) | 5,599) | 5,565) | 6,550) | 5,887) | ||||||
| Sales per share2 | 25.30 | 22.97 | 21.25 | 19.67 | 18.24 | 17.11 | 15.91 | 14.97 | 14.38 | 14.11 | 14.04 | 13.69 | 13.54 | 14.32 | 14.65 | 14.16 | 13.37 | 11.65 | ||||||
| Share price1, 3 | 482.05 | 421.39 | 200.19 | 256.33 | 163.12 | 100.36 | 112.01 | 148.60 | 144.48 | 144.27 | 167.69 | 108.04 | 109.35 | 81.62 | 78.77 | 58.63 | 98.09 | 99.42 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/S ratio4 | 19.05 | 18.35 | 9.42 | 13.03 | 8.94 | 5.86 | 7.04 | 9.93 | 10.05 | 10.23 | 11.95 | 7.89 | 8.08 | 5.70 | 5.38 | 4.14 | 7.34 | 8.54 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||
| Analog Devices Inc. | 15.22 | 14.38 | 11.20 | 11.60 | 10.71 | 12.84 | 11.53 | 11.64 | 11.39 | 8.30 | 7.31 | 6.89 | 6.75 | 7.89 | 7.14 | 7.88 | 8.52 | 10.43 | ||||||
| Applied Materials Inc. | 11.69 | 10.40 | 7.25 | 4.45 | 4.59 | 5.17 | 5.07 | 6.15 | 6.81 | 6.36 | 5.08 | 4.49 | 4.29 | 3.63 | 3.43 | 3.59 | 4.03 | 4.88 | ||||||
| Broadcom Inc. | 24.72 | 23.68 | 24.48 | 29.12 | 20.85 | 16.75 | 20.07 | 15.79 | 18.34 | 15.05 | 14.46 | 10.15 | 9.33 | 7.66 | 7.00 | 6.54 | 7.49 | 8.42 | ||||||
| Intel Corp. | 8.16 | 7.72 | 4.26 | 3.32 | 1.87 | 1.65 | 1.58 | 1.84 | 1.67 | 2.46 | 3.40 | 2.83 | 2.85 | 2.30 | 1.85 | 1.73 | 2.03 | 2.29 | ||||||
| KLA Corp. | 14.69 | 12.68 | 9.93 | 7.74 | 9.04 | 8.69 | 9.64 | 9.91 | 8.38 | 6.12 | 6.47 | 4.99 | 5.28 | 4.62 | 6.09 | 5.51 | 6.77 | 7.22 | ||||||
| Lam Research Corp. | 15.07 | 9.72 | 7.00 | 5.33 | 6.42 | 6.23 | 6.95 | 8.53 | 7.75 | 4.99 | 4.99 | 3.66 | 3.39 | 2.83 | 3.68 | 3.79 | 4.98 | 4.91 | ||||||
| Micron Technology Inc. | 8.62 | 6.61 | 5.64 | 4.17 | 3.38 | 3.34 | 4.51 | 6.86 | 6.64 | 5.83 | 4.94 | 3.88 | 3.02 | 1.99 | 1.87 | 1.83 | 2.84 | 3.62 | ||||||
| NVIDIA Corp. | 26.71 | 22.15 | 24.55 | 31.54 | 31.99 | 35.41 | 27.69 | 27.49 | 35.40 | 37.18 | 21.33 | 13.27 | 12.64 | 15.92 | 24.67 | 32.92 | 23.77 | 20.32 | ||||||
| Qualcomm Inc. | 3.70 | 3.54 | 4.35 | 3.97 | 3.85 | 4.78 | 4.93 | 5.40 | 5.03 | 4.57 | 3.45 | 3.74 | 3.06 | 3.53 | 2.85 | 4.09 | 3.85 | 5.89 | ||||||
| Texas Instruments Inc. | 13.13 | 13.68 | 11.37 | 9.06 | 10.43 | 9.18 | 10.65 | 11.71 | 11.25 | 9.47 | 8.26 | 7.11 | 8.49 | 7.65 | 8.25 | 7.10 | 8.00 | 8.24 | ||||||
Based on: 10-Q (reporting date: 2026-06-27), 10-Q (reporting date: 2026-03-28), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
Sales per share
= (Net revenueQ2 2026
+ Net revenueQ1 2026
+ Net revenueQ4 2025
+ Net revenueQ3 2025)
÷ No. shares of common stock outstanding
= (11,536,000,000 + 10,253,000,000 + 10,270,000,000 + 9,246,000,000)
÷ 1,632,475,042 = 25.30
3 Closing price as at the filing date of Advanced Micro Devices Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/S ratio = Share price ÷ Sales per share
= 482.05 ÷ 25.30 = 19.05
5 Click competitor name to see calculations.
The valuation of the common stock exhibits a period of significant volatility followed by a substantial expansion in market pricing relative to revenue. While sales per share maintained a consistent upward trajectory over the analyzed timeframe, the share price experienced more aggressive fluctuations, leading to a highly variable Price-to-Sales (P/S) ratio.
- Share Price Trajectory
- Market pricing shifted from an initial range of approximately $58 to $168 between March 2022 and December 2023. A period of consolidation occurred in early 2024, after which a sharp acceleration began. The share price rose from $112.01 in December 2024 to a peak of $482.05 by June 2026, representing a significant increase in market capitalization.
- Sales per Share Performance
- Revenue generation per share demonstrates steady and linear growth. Starting at $11.65 in March 2022, sales per share climbed incrementally to reach $25.30 by June 2026. This trend indicates a consistent improvement in underlying business productivity and top-line growth regardless of the volatility seen in the equity price.
- Price-to-Sales (P/S) Ratio Analysis
- The P/S ratio reached a minimum of 4.14 in September 2022, indicating a period of valuation compression. The ratio subsequently fluctuated between 5.38 and 11.95 through 2023 and 2024. A dramatic expansion occurred in the final phase of the period, with the ratio ascending to 19.05 by June 2026. This indicates that the increase in share price significantly outpaced the growth in sales per share, reflecting a substantial increase in the premium investors were willing to pay for the company's revenue streams.
AI Ask an analyst for more
Price to Book Value (P/BV)
Advanced Micro Devices Inc., historical P/BV calculation (quarterly data)
| Jun 27, 2026 | Mar 28, 2026 | Dec 27, 2025 | Sep 27, 2025 | Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Sep 24, 2022 | Jun 25, 2022 | Mar 26, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,632,475,042 | 1,630,600,639 | 1,630,410,843 | 1,628,041,540 | 1,622,843,689 | 1,621,404,195 | 1,620,477,962 | 1,622,807,346 | 1,618,481,845 | 1,616,313,871 | 1,615,786,841 | 1,615,498,891 | 1,615,671,380 | 1,610,361,870 | 1,611,388,217 | 1,612,356,162 | 1,614,320,900 | 1,620,507,904 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Stockholders’ equity (in millions) | 67,224) | 64,462) | 62,999) | 60,790) | 59,665) | 57,881) | 57,568) | 56,985) | 56,538) | 56,198) | 55,892) | 54,970) | 55,136) | 54,694) | 54,750) | 54,542) | 55,169) | 55,333) | ||||||
| Book value per share (BVPS)2 | 41.18 | 39.53 | 38.64 | 37.34 | 36.77 | 35.70 | 35.53 | 35.12 | 34.93 | 34.77 | 34.59 | 34.03 | 34.13 | 33.96 | 33.98 | 33.83 | 34.17 | 34.15 | ||||||
| Share price1, 3 | 482.05 | 421.39 | 200.19 | 256.33 | 163.12 | 100.36 | 112.01 | 148.60 | 144.48 | 144.27 | 167.69 | 108.04 | 109.35 | 81.62 | 78.77 | 58.63 | 98.09 | 99.42 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/BV ratio4 | 11.71 | 10.66 | 5.18 | 6.86 | 4.44 | 2.81 | 3.15 | 4.23 | 4.14 | 4.15 | 4.85 | 3.18 | 3.20 | 2.40 | 2.32 | 1.73 | 2.87 | 2.91 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||
| Analog Devices Inc. | 5.75 | 5.00 | 3.65 | 3.53 | 3.00 | 3.42 | 3.09 | 3.21 | 3.38 | 2.70 | 2.53 | 2.46 | 2.41 | 2.72 | 2.35 | 2.39 | 2.24 | 2.35 | ||||||
| Applied Materials Inc. | 14.19 | 13.51 | 10.07 | 6.53 | 6.79 | 7.68 | 7.25 | 8.76 | 9.92 | 9.67 | 8.23 | 7.90 | 8.09 | 7.11 | 7.25 | 7.48 | 8.65 | 9.91 | ||||||
| Broadcom Inc. | 21.28 | 20.25 | 19.24 | 23.82 | 17.09 | 13.09 | 15.29 | 11.26 | 11.17 | 8.32 | 21.59 | 16.31 | 14.86 | 11.31 | 10.23 | 9.93 | 10.71 | 10.45 | ||||||
| Intel Corp. | 5.32 | 3.72 | 1.97 | 1.67 | 1.01 | 0.88 | 0.85 | 1.01 | 0.80 | 1.28 | 1.75 | 1.47 | 1.53 | 1.32 | 1.15 | 1.20 | 1.47 | 1.73 | ||||||
| KLA Corp. | 34.24 | 31.86 | 25.73 | 22.33 | 27.37 | 25.03 | 28.08 | 30.73 | 26.63 | 20.82 | 23.25 | 19.77 | 21.25 | 21.67 | 40.04 | 11.68 | 13.65 | 13.95 | ||||||
| Lam Research Corp. | 30.55 | 18.69 | 13.09 | 9.61 | 11.81 | 11.46 | 12.13 | 15.14 | 13.49 | 9.82 | 10.58 | 8.22 | 7.78 | 6.88 | 10.10 | 10.52 | 12.70 | 13.28 | ||||||
| Micron Technology Inc. | 6.91 | 4.76 | 3.89 | 2.78 | 2.18 | 2.07 | 2.51 | 3.32 | 2.77 | 2.20 | 1.74 | 1.55 | 1.47 | 1.09 | 1.15 | 1.20 | 1.85 | 2.33 | ||||||
| NVIDIA Corp. | 44.07 | 39.23 | 40.38 | 54.22 | 52.98 | 57.48 | 39.25 | 37.08 | 42.07 | 39.24 | 26.03 | 17.76 | 15.75 | 17.87 | 24.95 | 33.57 | 24.61 | 20.84 | ||||||
| Qualcomm Inc. | 6.03 | 6.89 | 9.08 | 6.31 | 5.88 | 7.24 | 7.31 | 8.17 | 7.48 | 7.19 | 5.72 | 6.98 | 6.38 | 8.05 | 7.00 | 10.74 | 11.35 | 18.72 | ||||||
| Texas Instruments Inc. | 14.18 | 15.03 | 12.35 | 9.41 | 10.61 | 8.98 | 9.86 | 10.66 | 10.52 | 9.37 | 8.57 | 7.74 | 10.03 | 9.79 | 11.33 | 9.88 | 11.12 | 11.14 | ||||||
Based on: 10-Q (reporting date: 2026-06-27), 10-Q (reporting date: 2026-03-28), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 67,224,000,000 ÷ 1,632,475,042 = 41.18
3 Closing price as at the filing date of Advanced Micro Devices Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/BV ratio = Share price ÷ BVPS
= 482.05 ÷ 41.18 = 11.71
5 Click competitor name to see calculations.
The Price to Book Value (P/BV) ratio demonstrates significant volatility over the analyzed period, primarily driven by substantial fluctuations in share price while the book value per share (BVPS) remained relatively stable. While the BVPS exhibited a gradual and consistent upward trend, rising from 34.15 US$ in March 2022 to 41.18 US$ by June 2026, the P/BV ratio experienced multiple cycles of contraction and rapid expansion.
- Initial Volatility and Recovery (2022-2023)
- A contraction phase is observed in the first half of 2022, with the P/BV ratio reaching a period low of 1.73 in September 2022. This decline was directly correlated with a share price drop to 58.63 US$. Subsequently, a recovery trend emerged, leading to a peak of 4.85 by December 2023 as the share price climbed to 167.69 US$.
- Intermediate Correction Phase (2024-Early 2025)
- Between March 2024 and March 2025, the valuation ratio underwent a period of correction and stabilization. The P/BV ratio fluctuated between a high of 4.23 in September 2024 and a low of 2.81 in March 2025, reflecting a temporary misalignment between market price and book value before a renewed upward trajectory began.
- Exponential Valuation Expansion (2025-2026)
- A sharp acceleration in the P/BV ratio is evident from June 2025 onwards. The ratio escalated from 4.44 to 11.71 by June 2026. This dramatic increase is attributed to a surge in the share price, which reached 482.05 US$, vastly outpacing the marginal growth in the company's book value per share.
Overall, the data indicates a transition from a valuation closely tied to book value in 2022 to a high-growth premium valuation by mid-2026. The widening gap between the share price and the BVPS suggests that market participants are attributing significantly higher value to the company's intangible assets, future earning potential, or growth prospects than to its net asset value.
AI Ask an analyst for more