Discounted Cash Flow

Advanced Micro Devices Inc.

AMD · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $4.3b $-497.0m $13.0m -11.6% $-0.60
2017 $5.3b (24.7%) $43.0m (108.7%) $-45.0m (-446.2%) 0.8% (106.9%) $0.04 (106.7%)
2018 $6.5b (21.5%) $337.0m (683.7%) $-129.0m (-186.7%) 5.2% (545.0%) $0.34 (750.0%)
2019 $6.7b (4.0%) $341.0m (1.2%) $276.0m (314.0%) 5.1% (-2.7%) $0.31 (-8.8%)
2020 $9.8b (45.0%) $2.5b (630.2%) $777.0m (181.5%) 25.5% (403.4%) $2.10 (577.4%)
2021 $16.4b (68.3%) $3.2b (27.0%) $3.2b (314.4%) 19.2% (-24.6%) $2.61 (24.3%)
2022 $23.6b (43.6%) $1.3b (-58.3%) $3.1b (-3.3%) 5.6% (-70.9%) $0.85 (-67.4%)
2023 $22.7b (-3.9%) $854.0m (-35.3%) $1.1b (-64.0%) 3.8% (-32.7%) $0.53 (-37.6%)
2024 $25.8b (13.7%) $1.6b (92.2%) $2.4b (114.5%) 6.4% (69.0%) $1.01 (90.6%)
2025 $34.6b (34.3%) $4.3b (164.2%) $6.7b (180.0%) 12.5% (96.6%) $2.67 (164.4%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model