AMD
Advanced Micro Devices, Inc.
AMD offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
PDFS
PDF Solutions, Inc.
PDFS has a slight edge over AMD overall, supported by stronger valuation and stronger modeled upside.
AMD Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
AMD's revenue, profitability, cash flow and balance sheet are all currently strong.
PDFS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Under pressure | |
| Strong |
PDFS's revenue, profitability and balance sheet are currently healthy, but its cash flow is under pressure.
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.
PDFS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 26x | $40.64 | — |
| Current | 107x | $40.64 | — |
| Cheap | 184x | $69.88 | +72% |
| Fair | 405x | $154 | +279% |
| Expensive | 968x | $368 | +805% |
Historical ranges are pointers, not guarantees.
PDFS has the edge over AMD in the historical PE scenario, which offers more potential upside but is not a forecast.
AMD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Low |
Analysts expect strong earnings and revenue growth for AMD, with profitability improving. However, they disagree widely on these estimates.
PDFS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for PDFS, with profitability improving.
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 edge over PDFS on earnings, with more consistent year-over-year improvement.
PDFS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.55 | +307% |
| Q3 2026 | $0.38 | +$0.39 |
| Q2 2026 | $0.25 | +1150% |
| Q1 2026 | $0.18 | +500% |
| Q4 2025 | -$0.02 | -120% |
| Q3 2025 | -$0.01 | -108% |
| Q2 2025 | $0.02 | +$0.09 |
| Q1 2025 | $0.03 | -50% |
| Q4 2024 | $0.10 | +25% |
PDFS has returned to profit: it earned $0.38 per share over the past year, after losing money the year before.
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 PDFS 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 PDFS on profitability, with a higher operating margin.
PDFS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $68.3M | +20% |
| Q2 2026 | $61.5M | +19% |
| Q1 2026 | $60.1M | +26% |
| Q4 2025 | $62.4M | +25% |
| Q3 2025 | $57.1M | +23% |
| Q2 2025 | $51.7M | +24% |
| Q1 2025 | $47.8M | +16% |
| Q4 2024 | $50.1M | +22% |
PDFS's revenue has grown year over year for 23 quarters in a row: $68M last quarter, up 20% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | +3.7 points |
| Q2 2026 | 8.2% | +6.1 points |
| Q1 2026 | 11% | +18 points |
| Q4 2025 | 5.5% | +2.6 points |
| Q3 2025 | 8.4% | +0.6 points |
| Q2 2025 | 2.2% | -2 points |
| Q1 2025 | -7.4% | -6.8 points |
| Q4 2024 | 2.9% | +2.6 points |
PDFS's operating margin was 12% last quarter, up 3.7 points from 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 PDFS on cash generation, producing positive trailing cash flow while its opponent burns cash.
PDFS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.1M | +$1.8M |
| Q2 2026 | $2.3M | +$16.1M |
| Q1 2026 | -$8.8M | -1745% |
| Q4 2025 | $7.6M | +$11.5M |
| Q3 2025 | -$2.9M | -158% |
| Q2 2025 | -$13.8M | -$9.1M |
| Q1 2025 | $535K | +$4.4M |
| Q4 2024 | -$4M | -$3.3M |
PDFS's free cash flow was −$23,000 over the past year, against −$20M 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 the edge over PDFS on shareholder dilution, with a more favorable share count trend.
| 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.
PDFS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.9% | +1.2M shares |
| 1 year | +8.5% | +3.4M shares |
| 3 years | +13% | +4.8M shares |
| 5 years | +15% | +5.8M shares |
| Available history | +33% | +10.6M shares |
PDFS has 43M diluted shares, up 8.5% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | $244,000 |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $6.9M |
| Q4 2023 | — |
| Q4 2022 | — |
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.
PDFS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.4x | Net Cash |
| Q2 2026 | -1.9x | Net Cash |
| Q1 2026 | 1.7x | Healthy |
| Q4 2025 | 2.5x | Moderate |
| Q3 2025 | 4.4x | High |
| Q2 2025 | 5.4x | High |
| Q1 2025 | 3.8x | Elevated |
| Q4 2024 | -8.9x | Net Cash |
PDFS has more cash than debt.
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).
PDFS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.0 | Neutral |
| Stochastic | 22.2 | Neutral |
PDFS's weekly RSI is 45 (neutral) and its Stochastic is 22 (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.
PDFS PE vs Technology Sector
| Metric | PDFS | Sector median | Relative |
|---|---|---|---|
| PE | 107x | 28x | 284% above |
| PE % | 1 | 35 | 34 pts below |
PDFS has the edge over AMD on valuation relative to its sector.
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 PDFS on trend strength, trading above more of its moving averages.
PDFS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $44.7 | 9% below |
| 20 week MA | $47.4 | 14% below |
| 50 week MA | $42.6 | 4.6% below |
| 100 week MA | $32.7 | 24% above |
| 200 week MA | $33.6 | 21% above |
PDFS has slipped below its 8-, 20- and 50-week averages, though it's still 21% above 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 PDFS on returns for 2026, with the stronger performance.
PDFS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $16.5 | $22.0 | +34% |
| 2021 | $22.0 | $31.3 | +42% |
| 2022 | $31.3 | $28.6 | -8.9% |
| 2023 | $28.6 | $32.1 | +13% |
| 2024 | $32.1 | $27.9 | -13% |
| 2025 | $27.9 | $29.3 | +5.1% |
| 2026 YTD | $29.3 | $40.6 | +39% |
PDFS has finished higher in four of the last six years. It's up 39% so far in 2026.