Advanced Micro Devices (AMD) FY2020 results: revenue $9.8 billion, up 45.0% on the year
Advanced Micro Devices Inc. (AMD) reported revenue of $9.8 billion for fiscal 2020, the year ended 26 December 2020, up 45.0% on the year before. Net income was $2.5 billion, up 630.2%, and diluted earnings per share $2.06. The figures are the company's own, from the 10-K it filed with the SEC on 29 January 2021.
Revenue
$9.8 billion
+45.0% on the year
FY2013FY2020
Operating margin
14.0%
9.4% a year earlier
FY2013FY2020
Net income
$2.5 billion
+630.2% on the year
FY2013FY2020
Diluted EPS
$2.06
+586.7% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
9,763
6,731
6,475
+45.0%
Cost of revenue
5,416
3,863
4,028
+40.2%
Gross profit
4,347
2,868
2,447
+51.6%
Gross margin
44.5%
42.6%
37.8%
Research and development
1,983
1,547
1,434
+28.2%
Selling, general and administrative
995
750
562
+32.7%
Operating income
1,369
631
451
+117.0%
Operating margin
14.0%
9.4%
7.0%
Interest expense
47.0
94.0
121
-50.0%
Pre-tax income
1,280
372
328
+244.1%
Income tax
-1,210
31.0
-9.0
Effective tax rate
-94.5%
8.3%
-2.7%
Net income
2,490
341
337
+630.2%
Net margin
25.5%
5.1%
5.2%
Diluted EPS
$2.06
$0.30
$0.32
+586.7%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,071
493
34.0
+117.2%
Capital expenditure
294
217
163
+35.5%
Free cash flow
777
276
-129
+181.5%
Free cash flow margin
8.0%
4.1%
-2.0%
Cash from investing
-952
-149
-170
Cash from financing
6.0
43.0
28.0
-86.0%
Depreciation and amortisation
n/a
222
170
Share-based compensation
274
197
137
+39.1%
Buybacks
0.0
0.0
n/a
Diluted shares, weighted
1,207m
1,120m
1,064m
+7.8%
Shares outstanding at period end
1,211m
1,170m
1,005m
+3.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
5,837
2,827
1,266
+106.5%
Debt
330
486
1,250
-32.1%
Operating lease liabilities
201
199
0.0
+1.0%
Other liabilities
2,594
2,516
2,040
+3.1%
Total liabilities and equity
8,962
6,028
4,556
+48.7%
Fixed assets
641
500
348
+28.2%
Goodwill
289
289
289
0.0%
Investments
695
37.0
78.0
+1,778.4%
Cash and equivalents
1,595
1,466
1,078
+8.8%
Receivables
2,066
1,859
1,235
+11.1%
Inventory
1,399
982
845
+42.5%
Other assets
2,277
895
683
+154.4%
Total assets
8,962
6,028
4,556
+48.7%
10-K for the year ended 26 December 2020, filed 29 January 2021: the filing.