ADVANCED MICRO DEVICES INC（AMD）の決算・業績分析
ADVANCED MICRO DEVICES INCの2025年有価証券報告書をAI分析。売上高$34.6B(+34.3%)。営業利益$3.7B。Information Technology。
目次
ADVANCED MICRO DEVICES INCの2025年度 業績サマリー
ADVANCED MICRO DEVICES INC（証券コード: AMD）の2025年度決算・業績分析。売上高は$34.6B（前年比+34.3%）。営業利益は$3.7B（前年比+94.4%）。純利益は$4.3B（前年比+164.2%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
ADVANCED MICRO DEVICES INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue surged to $23.6B (+43.6% YoY) in FY2024, but operating income fell 65.4% YoY to $1.3B (XBRL).
- Net debt reached -$3.1B (-1.8x EBITDA), reflecting strong liquidity despite a 58.3% YoY drop in net income to $1.3B (XBRL).
- R&D investment hit $5.0B, underscoring focus on innovation amid competitive pressures (XBRL).
ADVANCED MICRO DEVICES INCの売上高変化の要因
- •Revenue grew from $16.4B in FY2023 to $23.6B in FY2024 (+43.6% YoY), but declined to $22.7B in FY2025 (XBRL). The 5-year CAGR of 28.5% reflects sustained demand for semiconductors, though FY2024 operating income fell sharply to $1.3B (-65.4% YoY) due to increased R&D and manufacturing costs. Net income also dropped 58.3% YoY to $1.3B, impacted by higher expenses and margin compression.
ADVANCED MICRO DEVICES INCの営業利益変化の要因
- •Gross margin remained robust at 44.9%, but operating margin fell to 5.4% (-65.4% YoY) and net margin to 5.6% (-58.3% YoY) (XBRL). EBITDA of $1.7B (7.2% of revenue) highlights operational efficiency despite declining profitability. Gross profit increased to $10.6B, but rising R&D costs ($5.0B) and manufacturing expenses offset revenue gains.
ADVANCED MICRO DEVICES INCの事業リスクと対応
Intel and Nvidia's market dominance threatens AMD's competitiveness (10-K).
Cyclical semiconductor industry downturns could severely impact demand (10-K).
Failure to innovate risks losing market share to competitors (10-K).
Loss of a major customer may cause material financial harm (10-K).
Reliance on third-party manufacturing creates operational vulnerabilities (10-K).
Regulatory risks include export restrictions, tax liabilities, and AI-related liabilities (10-K).
ADVANCED MICRO DEVICES INCの事業内容
Advanced Micro Devices Inc (AMD) designs and manufactures high-performance semiconductor products, including CPUs, GPUs, and chiplets, targeting computing, gaming, and data center markets. The company competes with industry leaders Intel and Nvidia, facing challenges from their market dominance (10-K). AMD's business model relies on R&D-driven product innovation, with significant investments in cutting-edge technologies like AI and 3D chip stacking. Despite strong revenue growth, the company's profitability has declined due to rising costs and competitive pricing pressures.
ADVANCED MICRO DEVICES INCのAI業績分析レポート（2024年度）
Annual Report Analysis: Advanced Micro Devices Inc (AMD), FY2024
Highlights
Business Overview
AMD designs and manufactures high-performance semiconductors, including CPUs, GPUs, and chiplets, targeting computing, gaming, and data center markets. The company faces intense competition from Intel and Nvidia, with risks from cyclical industry downturns and reliance on third-party manufacturing (10-K). Despite strong revenue growth, profitability has declined due to rising costs and margin compression.
Revenue Analysis
Revenue grew from $16.4B in FY2023 to $23.6B in FY2024 (+43.6% YoY), but declined to $22.7B in FY2025 (XBRL). The 5-year CAGR of 28.5% reflects sustained demand for semiconductors, though FY2024 operating income fell sharply to $1.3B (-65.4% YoY) due to increased R&D and manufacturing costs. Net income also dropped 58.3% YoY to $1.3B.
Profitability Analysis
Gross margin remained robust at 44.9%, but operating margin fell to 5.4% (-65.4% YoY) and net margin to 5.6% (-58.3% YoY) (XBRL). EBITDA of $1.7B (7.2% of revenue) highlights operational efficiency despite declining profitability. Gross profit increased to $10.6B, but rising R&D costs ($5.0B) and manufacturing expenses offset revenue gains.
Balance Sheet Analysis
Equity ratio rose to 80.7%, with total equity reaching $54.8B in FY2024 (XBRL). Current ratio of 2.51x indicates strong liquidity, supported by $4.8B in cash reserves. Net debt of -$3.1B (-1.8x EBITDA) reflects a cash-rich balance sheet, though long-term debt remains at $1.7B. Total assets grew to $67.9B, driven by capital expenditures and R&D investments.
Cash Flow Analysis
Operating cash flow reached $3.6B, with free cash flow (FCF) of $3.1B after $450M in CapEx (XBRL). Investing cash flow of $2.0B reflects capital investments, while financing cash flow of -$3.3B includes $3.7B in share repurchases. Depreciation and amortization (D&A) totaled $439M, supporting asset write-downs.
Working Capital Analysis
Cash conversion cycle (CCC) extended to 131 days, with receivables days at 67, inventory days at 122, and payables days at 58 (XBRL).
Risks
Outlook
N/A. The 10-K does not provide specific management guidance or forward-looking trends for FY2025 (10-K).
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