AMD
Advanced Micro Devices, Inc.
AMD has the edge over FOUR overall, supported by stronger fundamentals and stronger modeled upside.
FOUR
Shift4 Payments, Inc.
FOUR's outlook is improving, though it still trails on the overall score.
AMD Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
AMD's revenue, profitability, cash flow and balance sheet are all currently strong.
FOUR Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Weak |
FOUR's revenue, profitability and cash flow are currently healthy, but its balance sheet is weak.
AMD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 39x | $585 | — |
| Cheap | 40x | $182 | -69% |
| Fair | 112x | $514 | -12% |
| Current | 127x | $585 | — |
| Expensive | 206x | $947 | +62% |
Historical ranges are pointers, not guarantees.
AMD's PE is in its fair range at 127x. If earnings grow as analysts expect, today's price would be 39x next year's earnings, in its cheap range.
FOUR PE Valuation
FOUR has no meaningful PE right now: it lost money over the past year.
AMD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Low |
AMD has the edge over FOUR on the outlook, with more favorable profitability expectations.
FOUR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Stable | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for FOUR, with profitability holding steady. However, they disagree widely on these estimates.
AMD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $15.05 | +227% |
| Q3 2026 | $4.60 | +127% |
| Q2 2026 | $3.89 | +122% |
| Q1 2026 | $3.05 | +123% |
| Q4 2025 | $2.65 | +165% |
| Q3 2025 | $2.03 | +81% |
| Q2 2025 | $1.75 | +111% |
| Q1 2025 | $1.37 | +99% |
| Q4 2024 | $1.00 | +89% |
AMD has the stronger earnings trend. Trailing diluted EPS is up 127% for AMD versus FOUR up 5%.
FOUR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.29 | +331% |
| Q3 2024 | $1.69 | +5% |
| Q2 2024 | $1.64 | +3.1% |
| Q1 2024 | $1.48 | +14% |
| Q4 2023 | $1.36 | +37% |
| Q3 2023 | $1.61 | +360% |
| Q2 2023 | $1.59 | +$1.94 |
| Q1 2023 | $1.30 | +$1.73 |
| Q4 2022 | $0.99 | +$1.91 |
FOUR's earnings per share have climbed steadily: $1.69 over the past year, up 5% from the year before, and higher year over year every quarter since early 2022.
AMD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $13.4B | +45% |
| Q2 2026 | $11.5B | +50% |
| Q1 2026 | $10.3B | +38% |
| Q4 2025 | $10.3B | +34% |
| Q3 2025 | $9.2B | +36% |
| Q2 2025 | $7.7B | +32% |
| Q1 2025 | $7.4B | +36% |
| Q4 2024 | $7.7B | +24% |
AMD has the edge over FOUR on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | +7.4 points |
| Q2 2026 | 17% | +19 points |
| Q1 2026 | 14% | +3.6 points |
| Q4 2025 | 17% | +5.7 points |
| Q3 2025 | 14% | +3.1 points |
| Q2 2025 | -1.7% | -6.4 points |
| Q1 2025 | 11% | +10 points |
| Q4 2024 | 11% | +5.8 points |
AMD has the edge over FOUR on profitability, with a higher operating margin.
FOUR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.3B | +12% |
| Q2 2026 | $1.3B | +34% |
| Q1 2026 | $1.1B | +32% |
| Q4 2025 | $1.2B | +34% |
| Q3 2025 | $1.2B | +29% |
| Q2 2025 | $966.2M | +17% |
| Q1 2025 | $848.3M | +20% |
| Q4 2024 | $887M | +26% |
FOUR's revenue has grown year over year every quarter since early 2021: $1.3B last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.9% | +0.1 points |
| Q2 2026 | 7.3% | -1.3 points |
| Q1 2026 | 4.5% | +1.5 points |
| Q4 2025 | 11% | +1.1 points |
| Q3 2025 | 9.7% | +0.9 points |
| Q2 2025 | 8.6% | +1.4 points |
| Q1 2025 | 3% | 0 points |
| Q4 2024 | 9.7% | +5.8 points |
FOUR's operating margin was 9.9% last quarter, about level with the same quarter a year ago, near the top of its range since 2019.
AMD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $554M | -71% |
| Q2 2026 | $1.6B | -9.9% |
| Q1 2026 | $2.6B | +253% |
| Q4 2025 | $2.4B | +118% |
| Q3 2025 | $1.9B | +283% |
| Q2 2025 | $1.7B | +294% |
| Q1 2025 | $727M | +92% |
| Q4 2024 | $1.1B | +351% |
AMD has the edge over FOUR on cash flow, with more consistent year-over-year improvement.
FOUR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $216M | -21% |
| Q2 2026 | $57M | -39% |
| Q1 2026 | $128M | +186% |
| Q4 2025 | $222.5M | +55% |
| Q3 2025 | $272.5M | +3.4% |
| Q2 2025 | $93M | +24% |
| Q1 2025 | $44.8M | -50% |
| Q4 2024 | $143.8M | +97% |
FOUR generated $624M in free cash flow over the past year, up 13% from the year before.
AMD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +2M shares |
| 1 year | +1.2% | +20M shares |
| 3 years | +2% | +32M shares |
| 5 years | +35% | +431M shares |
| Available history | +40% | +473M shares |
AMD has 1.7B diluted shares, up 1.2% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $221M |
| Q4 2025 | — |
| Q3 2025 | $89M |
| Q2 2025 | $478M |
| Q1 2025 | $749M |
| Q4 2024 | $256M |
AMD has spent almost nothing on buybacks in the past year.
FOUR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -5.1% | -4M shares |
| 1 year | -16% | -14.3M shares |
| 3 years | -11% | -9.5M shares |
| 5 years | -7.4% | -6M shares |
FOUR has the edge over AMD on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $190M |
| Q2 2026 | $26M |
| Q1 2026 | $295M |
| Q4 2025 | $304.8M |
| Q3 2025 | — |
| Q2 2025 | $85.3M |
| Q1 2025 | $62.9M |
| Q4 2024 | $110M |
FOUR spent $816M buying back its own shares over the past year, about three times what it spent the year before.
AMD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2020 | -1.0x | Net Cash |
| Q1 2020 | -0.8x | Net Cash |
| Q4 2019 | -1.2x | Net Cash |
AMD has more cash than debt.
FOUR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.5x | High |
| Q2 2026 | 4.6x | High |
| Q1 2026 | 4.7x | High |
| Q4 2025 | 4.5x | High |
| Q3 2025 | 4.6x | High |
| Q2 2025 | 2.0x | Moderate |
| Q1 2025 | 5.5x | High |
| Q4 2024 | 5.6x | High |
FOUR's net debt is about 4.5 years of its operating earnings (EBITDA), about the same as a year ago.
AMD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.3 | Neutral |
| Stochastic | 41.4 | Neutral |
AMD's weekly RSI is 59 (neutral) and its Stochastic is 41 (neutral).
FOUR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.1 | Neutral |
| Stochastic | 33.7 | Neutral |
FOUR's weekly RSI is 46 (neutral) and its Stochastic is 34 (neutral).
AMD PE vs Technology Sector
| Metric | AMD | Sector median | Relative |
|---|---|---|---|
| PE | 127x | 28x | 357% above |
| PE % | 61 | 35 | 26 pts above |
AMD is trading at 127x earnings, a 357% premium to the Technology sector's median of 28x.
FOUR PE vs Technology Sector
| Metric | FOUR | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
FOUR has no meaningful PE right now: it lost money over the past year.
AMD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $557.2 | 5.1% above |
| 20 week MA | $525.9 | 11% above |
| 50 week MA | $389.7 | 50% above |
| 100 week MA | $266.9 | 119% above |
| 200 week MA | $199.6 | 193% above |
AMD has the edge over FOUR on trend strength, trading above more of its moving averages.
FOUR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $39.8 | 4.3% above |
| 20 week MA | $44.0 | 5.7% below |
| 50 week MA | $48.5 | 14% below |
| 100 week MA | $69.7 | 40% below |
| 200 week MA | $70.3 | 41% below |
FOUR has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 41% below its 200-week average.
AMD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $46.2 | $91.8 | +99% |
| 2021 | $91.8 | $146.1 | +59% |
| 2022 | $146.1 | $64.5 | -56% |
| 2023 | $64.5 | $147.4 | +128% |
| 2024 | $147.4 | $125.2 | -15% |
| 2025 | $125.2 | $215.0 | +72% |
| 2026 YTD | $215.0 | $585.3 | +172% |
AMD has the edge over FOUR on returns for 2026, with the stronger performance.
FOUR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $33.5 | $71.8 | +114% |
| 2021 | $71.8 | $59.2 | -18% |
| 2022 | $59.2 | $54.1 | -8.6% |
| 2023 | $54.1 | $74.3 | +38% |
| 2024 | $74.3 | $104.7 | +41% |
| 2025 | $104.7 | $65.2 | -38% |
| 2026 YTD | $65.2 | $41.5 | -36% |
FOUR has finished lower in three of the last six years. It's down 36% so far in 2026.