# AMD calculation tables

Amounts in USD millions; percentages calculated with Decimal and rounded half-up.

## Quarterly continuing-operations comparison

| Period | Revenue | Operating cash flow | Capex | Free cash flow | FCF margin |
|---|---:|---:|---:|---:|---:|
| Q3_2025 | 9246 | 1788 | 258 | 1530 | 16.55% |
| Q2_2026 | 11536 | 2366 | 808 | 1558 | 13.51% |
| Q3_2026 | 13377 | 1202 | 648 | 554 | 4.14% |

## Nine-month continuing-operations history

| Year | Revenue | Operating cash flow | Capex | Free cash flow | FCF margin |
|---|---:|---:|---:|---:|---:|
| 2024 | 18127 | 1742 | 428 | 1314 | 7.25% |
| 2025 | 24369 | 4189 | 752 | 3437 | 14.10% |
| 2026 | 35166 | 6523 | 1845 | 4678 | 13.30% |

## Q3 2026 cash bridge

| Item | Cash effect |
|---|---:|
| net_income | 2428 |
| depreciation_amortization | 239 |
| acquisition_intangible_amortization | 534 |
| sbc | 523 |
| investment_gains_cf | -67 |
| noncash_customer_warrants_cf | 1179 |
| deferred_taxes_cf | -321 |
| other_adjustments_cf | 44 |
| receivables_cf | -1928 |
| inventory_cf | -2995 |
| prepaids_other_assets_cf | -1070 |
| payables_cf | 2313 |
| accrued_other_liabilities_cf | 323 |
| sum | 1202 |

## Public sources

- S1: https://ir.amd.com/news-events/press-releases/detail/1303/amd-reports-third-quarter-2026-financial-results
- S2: https://www.sec.gov/Archives/edgar/data/2488/000000248825000166/amd-20250927.htm

Inputs and formulas are retained in the accompanying reproduction files. Only company disclosures are used; scenarios are explicitly labelled in calculations.json.