AMD
AMD · Semiconductors
$516.79
1.7%Qualcomm
QCOM · Semiconductors
$175.91
1.8%The short version
- Qualcomm is the larger business, with $44.3B of revenue in fiscal 2025 against $34.6B for AMD.
- AMD grew revenue faster (34.3%, against 13.7%).
- Qualcomm kept more of each dollar of sales as operating profit (27.9% operating margin, against 10.7% operating margin).
- Qualcomm turned more of its sales into free cash flow (29.0% FCF margin, against 19.4% FCF margin).
- Qualcomm earned a higher return on the capital invested in it (23.7%, against 6.7%).
- Investors pay more for each dollar of AMD’s earnings: a P/E of 132.9x against 20.1x for Qualcomm.
| Latest fiscal year | AMD · FY25 | QCOM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $857.4B | $188.0B |
| Revenue | $34.6B | $44.3B |
| Free cash flow | $6.7B | $12.8B |
| Net income | $4.3B | $5.5B |
| Growth | ||
| Revenue growth | 34.3% | 13.7% |
| 5-year growth | 28.8% | 13.5% |
| Share count change | −0.1% | −2.2% |
| Profitability | ||
| Gross margin | 49.5% | 55.4% |
| Operating margin | 10.7% | 27.9% |
| Net margin | 12.5% | 12.5% |
| FCF margin | 19.4% | 29.0% |
| Return on capital | 6.7% | 23.7% |
| Return on equity | 7.2% | 23.3% |
| Balance sheet | ||
| Net debt | −$6.5B | $4.7B |
| Net debt / EBITDA | −1.0x | 0.3x |
| Dividends and buybacks | $1.3B | $12.6B |
| Valuation & quality | ||
| P/E | 132.9x | 20.1x |
| Piotroski F-score | 8 | 6 |
FY16
AMD $4.3B
QCOM $23.6B
FY17
AMD $5.3B
QCOM $22.3B
FY18
AMD $6.5B
QCOM $22.6B
FY19
AMD $6.7B
QCOM $24.3B
FY20
AMD $9.8B
QCOM $23.5B
FY21
AMD $16.4B
QCOM $33.6B
FY22
AMD $23.6B
QCOM $44.2B
FY23
AMD $22.7B
QCOM $35.8B
FY24
AMD $25.8B
QCOM $39.0B
FY25
AMD $34.6B
QCOM $44.3B
AMD
QCOM
FY16
AMD −8.6%
QCOM 27.6%
FY17
AMD 2.4%
QCOM 11.6%
FY18
AMD 7.0%
QCOM 2.8%
FY19
AMD 9.4%
QCOM 31.6%
FY20
AMD 14.0%
QCOM 26.6%
FY21
AMD 22.2%
QCOM 29.2%
FY22
AMD 5.4%
QCOM 35.9%
FY23
AMD 1.8%
QCOM 21.7%
FY24
AMD 7.4%
QCOM 25.9%
FY25
AMD 10.7%
QCOM 27.9%
AMD
QCOM
FY16
AMD $4.0M
QCOM $7.1B
FY17
AMD −$101M
QCOM $4.3B
FY18
AMD −$129M
QCOM $3.1B
FY19
AMD $276M
QCOM $6.4B
FY20
AMD $777M
QCOM $4.4B
FY21
AMD $3.2B
QCOM $8.6B
FY22
AMD $3.1B
QCOM $6.8B
FY23
AMD $1.1B
QCOM $9.8B
FY24
AMD $2.4B
QCOM $11.2B
FY25
AMD $6.7B
QCOM $12.8B
AMD
QCOM
FY16
AMD —
QCOM 21.7%
FY17
AMD —
QCOM —
FY18
AMD 41.6%
QCOM —
FY19
AMD 36.5%
QCOM 88.4%
FY20
AMD 48.1%
QCOM 70.3%
FY21
AMD 77.7%
QCOM 80.8%
FY22
AMD 4.6%
QCOM 75.4%
FY23
AMD 0.8%
QCOM 30.8%
FY24
AMD 2.9%
QCOM 38.6%
FY25
AMD 6.7%
QCOM 23.7%
AMD
QCOM
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.