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Advanced Micro Devices, Inc. (AMD) 财务分析 | 估值·财报 | 100Baggers.club

Advanced Micro Devices, Inc.

AMD

Advanced Micro Devices, Inc. operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles. The company provides processors for desktop and notebook personal computers under the AMD Ryzen, AMD Ryzen PRO, Ryzen Threadripper, Ryzen Threadripper PRO, AMD Athlon, AMD Athlon PRO, AMD FX, AMD A-Series, and AMD PRO A-Series processors brands; discrete GPUs for desktop and notebook PCs under the AMD Radeon graphics, AMD Embedded Radeon graphics brands; and professional graphics products under the AMD Radeon Pro and AMD FirePro graphics brands. It also offers Radeon Instinct, Radeon PRO V-series, and AMD Instinct accelerators for servers; chipsets under the AMD trademark; microprocessors for servers under the AMD EPYC; embedded processor solutions under the AMD Athlon, AMD Geode, AMD Ryzen, AMD EPYC, AMD R-Series, and G-Series processors brands; and customer-specific solutions based on AMD CPU, GPU, and multi-media technologies, as well as semi-custom SoC products. It serves original equipment manufacturers, public cloud service providers, original design manufacturers, system integrators, independent distributors, online retailers, and add-in-board manufacturers through its direct sales force, independent distributors, and sales representatives. The company was incorporated in 1969 and is headquartered in Santa Clara, California.

深度研究阅读完整报告

超威半导体(AMD)股票深度分析 — 永远的第二名困局

AMD 是执行力出众但护城河未固化的架构创新者。完整深度版拆解 AI GPU 利润率、EPYC 份额、ASIC 侵蚀、ROCm 生态、SOTP 估值与关键验证信号。

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📊 估值

关键估值指标

EV/EBITDA (TTM)

i

Enterprise Value, EBITDA and Ratio

EV/EBIT (TTM)

i

Enterprise Value, EBIT and Ratio

EV/Sales (TTM)

i

Enterprise Value, Revenue and Ratio

P/E Ratio (TTM)

i

Market Cap, Net Income and Ratio

P/B Ratio (Quarterly)

i

Market Cap, Book Value and Ratio

FCF Yield (TTM)

i

FCF, Enterprise Value and Yield

PR Profit Ratio (PPM)

i

PE Ratio, ROE and Profit Ratio (PR = PE / ROE)

📈 成长

营收、盈利和每股成长指标

Revenue (Quarterly)

i

Quarterly Revenue

Revenue/Share (Quarterly)

i

Revenue Per Share

Net Income (Quarterly)

i

Quarterly Net Income

EPS (Quarterly)

i

Earnings Per Share

Gross Profit/Share (Quarterly)

i

Gross Profit Per Share

OCF/Share (Quarterly)

i

Operating Cash Flow Per Share

FCF/Share (Quarterly)

i

Free Cash Flow Per Share

Operating Leverage (YoY)

i

Change in Operating Income / Change in Revenue

💰 盈利

利润率和净资产收益率

Gross Margin (TTM)

i

Revenue, Gross Profit and Gross Margin

Operating Margin (TTM)

i

Revenue, Operating Income and Operating Margin

Net Profit Margin (TTM)

i

Revenue, Net Income and Net Profit Margin

ROE (TTM)

i

Equity, Net Income and Return on Equity

ROA (TTM)

i

Assets, Net Income and Return on Assets

ROTCE - Return on Tangible Common Equity (TTM)

i

Net Income, Tangible Common Equity and ROTCE

OCF Margin (TTM)

i

Revenue, Operating Cash Flow and OCF Margin

FCF Margin (TTM)

i

Revenue, Free Cash Flow and FCF Margin

💵 现金质量

现金流质量和转换指标

OCF/NI Ratio (TTM)

i

Operating Cash Flow, Net Income and Ratio

FCF/NI Ratio (TTM)

i

Free Cash Flow, Net Income and Ratio

OCF/Capex (TTM)

i

Operating Cash Flow, Capex and Coverage Ratio

OCF/SBC (TTM)

i

Operating Cash Flow, SBC and Coverage Ratio

🛡️ 财务韧性

债务、流动性和财务健康度

Debt/Equity (quarterly)

i

Total Debt, Total Equity and Debt/Equity Ratio

EBITDA/Net Debt (TTM)

i

EBITDA, Net Debt and Coverage Ratio

Interest Coverage (TTM)

i

EBIT, Interest Expense and Coverage Ratio

Current Ratio (quarterly)

i

Current Assets, Current Liabilities and Current Ratio

Quick Ratio (quarterly)

i

Quick Assets, Current Liabilities and Quick Ratio

Altman Z-Score

i

Financial Distress Prediction Model

⚙️ 运营与资本效率

资产利用率、营运资本、ROIC和资本效率

ROIC (TTM)

i

NOPAT, Invested Capital and Return on Invested Capital

ROCE - Return on Capital Employed (TTM)

i

EBIT, Capital Employed and Return on Capital Employed

Asset Turnover (TTM)

i

Revenue, Total Assets and Turnover Ratio

CapEx/Depreciation - Investment Intensity (TTM)

i

CapEx, Depreciation and Ratio (>1=Expansion, <1=Contraction)

R&D/Gross Profit - R&D Intensity (TTM)

i

R&D Expenses, Gross Profit and Ratio

SG&A/Revenue - SG&A Efficiency (TTM)

i

SG&A Expenses, Revenue and Ratio

Cash Conversion Cycle (TTM)

i

DSO + DIO - DPO (in days)

DSO - Days Sales Outstanding (TTM)

i

Average Receivables and Days Sales Outstanding

DIO - Days Inventory Outstanding (TTM)

i

Average Inventory and Days Inventory Outstanding

DPO - Days Payables Outstanding (TTM)

i

Average Payables and Days Payables Outstanding

Goodwill/Assets (Quarterly)

i

Goodwill as % of Total Assets

🎁 股东回报

股息、股票回购、稀释和内部人交易活动

Dividend Yield (TTM)

i

Dividend Per Share, Share Price and Dividend Yield

Buyback Yield (TTM)

i

Net Buyback and Buyback Yield

Buyback Yield (3 Years)

i

Net Buyback 3Y and Buyback Yield 3Y

Dilution Rate (1 Year)

i

Current Shares, 1Y Ago Shares and Dilution Rate

Dilution Rate (3 Years)

i

Current Shares, 3Y Ago Shares and Dilution Rate

SBC Offset Rate (TTM)

i

Buyback / Stock-Based Comp and SBC Ratio

Insider Activity Rate (TTM)

i

Insider Net Buying and Activity Rate

利润瀑布图分析

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P

盈利能力指标

Gross Profit Margini毛利率

52.82%

毛利润 = $5.42B

营业收入 = $10.25B

Operating Profit Margini营业利润率

14.40%

营业利润 = $1.48B

营业收入 = $10.25B

EBITDA MarginiEBITDA利润率

14.40%

EBITDA = $1.48B

营业收入 = $10.25B

EBIT MarginiEBIT利润率

14.40%

EBIT = $1.60B

营业收入 = $10.25B

Net Profit Margini净利率

13.32%

净利润 = $1.37B

营业收入 = $10.25B

Pretax Profit Margini税前利润率

15.64%

税前利润 = $1.60B

营业收入 = $10.25B

E

运营效率指标

Interest Coveragei利息保障倍数

33.24x

EBIT (TTM) = $4.92B

利息费用 (TTM) = $0.15B

32.6x

24.9x

27.1x

32.7x

33.2x

SG&A / Revenuei销管费率

12.22%

销售及管理费用 = $1.25B

营业收入 = $10.25B

R&D / Revenuei研发占比

23.38%

研发费用 = $2.40B

营业收入 = $10.25B

R

回报率指标 (TTM)

ROAi总资产回报率

6.71%

净利润 = $4.99B

平均总资产 = $74.43B

ROEi净资产收益率

8.18%

净利润 = $4.99B

平均股东权益 = $61.02B

ROICi投入资本回报率

7.84%

NOPAT (TTM) = $4.35B

平均投入资本 = $55.56B

(NOPAT = 营业利润 × (1 - 有效税率))

(平均投入资本 = (本期IC + 去年同期IC) / 2)

Revenue Growthi营收增长率

37.85%

当期营收 = $10.25B

去年同期营收 = $7.44B

+35.9%

+31.7%

+35.6%

+34.1%

+37.9%

Operating Cash Flow/Sharei每股经营现金流

$5.89

经营现金流 = $9.72B

流通股数 = 1.65B

$2.13

$2.99

$3.90

$4.67

$5.89

综合分析

利润表项目	同比增长	当季数据	趋势
营业收入	+37.8%	$10.25B	↑
毛利	+58.4%	$5.42B, 52.82%	↑
营业利润	+83.1%	$1.48B, 14.40%	↑
EBITDA	-7.0%	$1.48B, 14.40%	↓
税前利润	+92.8%	$1.60B, 15.64%	↑
净利润	+92.7%	$1.37B, 13.32%	↑
稀释每股收益	+90.9%	0.84	↑

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L

流动性指标

Current Ratioi流动比率

2.72

健康

流动资产 = $28.63B

流动负债 = $10.51B

Quick Ratioi速动比率

1.96

健康

速动资产 = $20.58B

流动负债 = $10.51B

Cash Ratioi现金比率

1.18

健康

现金及等价物 = $12.35B

流动负债 = $10.51B

Cash Ratio = (Cash + Short-term Investments) / Current Liabilities

L

杠杆指标

Debt to Equityi债务权益比

0.06

健康

总债务 = $3.87B

总权益 = $64.46B

Liabilities to Assetsi资产负债率 (总负债)

19.1%

健康

总负债 = $15.18B

总资产 = $79.64B

Equity Multiplieri权益乘数

1.24

健康

总资产 = $79.64B

总权益 = $64.46B

E

效率指标

Asset Turnoveri总资产周转率

0.50

正常

营收 (TTM) = $37.45B

平均总资产 = $74.43B

Inventory Turnoveri存货周转率

2.33

关注

营业成本 (TTM) = $18.62B

平均存货 = $7.98B

Receivables Turnoveri应收账款周转率

6.07

正常

营收 (TTM) = $37.45B

平均应收账款 = $6.17B

S

偿债能力

Interest Coveragei利息保障倍数

33.24

健康

EBIT (TTM) = $4.92B

利息费用 (TTM) = $0.15B

Net Debt to EBITDAi净债务/EBITDA

-0.24

健康

净债务 = $-1.71B

EBITDA (TTM) = $7.18B

Debt Service Coveragei偿债覆盖率

11.13

健康

经营现金流 (TTM) = $9.72B

债务偿付 = $0.87B

V

价值指标

Goodwill %i商誉占比

31.8%

关注

商誉 = $25.34B

总资产 = $79.64B

Working Capital Ratioi营运资本比率

0.23

健康

营运资本 = $18.12B

总资产 = $79.64B

现金流瀑布图

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流入

流出

小计

起止点

C

现金流指标

经营现金流 TTMi

$9.72B

自由现金流 TTMi

$8.57B

FCF = OCF - CapEx

经营现金流 (TTM) = $9.72B

资本支出 (TTM) = $-1.15B

自由现金流收益率i

1.48%

关注

FCF (TTM) = $8.57B

市值 = $579.43B

经营现金流/销售比i

25.97%

健康

经营现金流 (TTM) = $9.72B

营业收入 (TTM) = $37.45B

Q

质量与覆盖指标

收益质量i

1.95x

健康

经营现金流 (TTM) = $9.72B

净利润 (TTM) = $4.99B

现金流/债务比i

2.51x

健康

经营现金流 (TTM) = $9.72B

总负债 = $3.87B

短期覆盖率i

0.93x

健康

经营现金流 (TTM) = $9.72B

流动负债 = $10.51B

资本支出覆盖率i

8.45x

健康

经营现金流 (TTM) = $9.72B

资本支出 (TTM) = $1.15B

E

效率指标

⚡ 比率按USD计算，去除汇率影响

自由/经营现金流比i

88.16%

健康

自由现金流 (TTM) = $8.57B

经营现金流 (TTM) = $9.72B

资本支出/营收比i

3.07%

健康

资本支出 (TTM) = $1.15B

营业收入 (TTM) = $37.45B

净债务/EBITDAi

-0.24

健康

净债务 = $-1.71B

EBITDA (TTM) = $7.18B

G

增长指标

经营现金流增长率i

214.70%

健康

当期OCF (TTM) = $2.96B

上期OCF = $0.94B

股东盈余i

$6.86B

健康

净利润 (TTM) = $4.99B

+ 折旧摊销 (TTM) = $3.02B

- 资本支出 (TTM) = $-1.15B