Advanced Micro Devices (AMD) FY2019 results: revenue $6.7 billion, up 4.0% on the year
Advanced Micro Devices Inc. (AMD) reported revenue of $6.7 billion for fiscal 2019, the year ended 28 December 2019, up 4.0% on the year before. Net income was $341 million, up 1.2%, and diluted earnings per share $0.30. The figures are the company's own, from the 10-K it filed with the SEC on 4 February 2020.
Revenue
$6.7 billion
+4.0% on the year
FY2012FY2019
Operating margin
9.4%
7.0% a year earlier
FY2012FY2019
Net income
$341 million
+1.2% on the year
FY2012FY2019
Diluted EPS
$0.30
-6.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
6,731
6,475
5,253
+4.0%
Cost of revenue
3,863
4,028
3,466
-4.1%
Gross profit
2,868
2,447
1,787
+17.2%
Gross margin
42.6%
37.8%
34.0%
Research and development
1,547
1,434
1,196
+7.9%
Selling, general and administrative
750
562
516
+33.5%
Operating income
631
451
127
+39.9%
Operating margin
9.4%
7.0%
2.4%
Interest expense
94.0
121
126
-22.3%
Pre-tax income
372
328
-15.0
+13.4%
Income tax
31.0
-9.0
18.0
Effective tax rate
8.3%
-2.7%
n/a
Net income
341
337
-33.0
+1.2%
Net margin
5.1%
5.2%
-0.6%
Diluted EPS
$0.30
$0.32
-$0.03
-6.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
493
34.0
12.0
+1,350.0%
Capital expenditure
217
163
113
+33.1%
Free cash flow
276
-129
-101
Free cash flow margin
4.1%
-2.0%
-1.9%
Cash from investing
-149
-170
-54.0
Cash from financing
43.0
28.0
-33.0
+53.6%
Depreciation and amortisation
222
170
144
+30.6%
Share-based compensation
197
137
97.0
+43.8%
Buybacks
0.0
n/a
n/a
Diluted shares, weighted
1,120m
1,064m
952m
+5.3%
Shares outstanding at period end
1,170m
1,005m
967m
+16.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,827
1,266
596
+123.3%
Debt
486
1,250
1,395
-61.1%
Operating lease liabilities
199
0.0
n/a
Other liabilities
2,516
2,040
1,561
+23.3%
Total liabilities and equity
6,028
4,556
3,552
+32.3%
Fixed assets
500
348
261
+43.7%
Goodwill
289
289
289
0.0%
Investments
37.0
78.0
0.0
-52.6%
Cash and equivalents
1,466
1,078
1,185
+36.0%
Receivables
1,859
1,235
454
+50.5%
Inventory
982
845
694
+16.2%
Other assets
895
683
669
+31.0%
Total assets
6,028
4,556
3,552
+32.3%
10-K for the year ended 28 December 2019, filed 4 February 2020: the filing.