AMD
Advanced Micro Devices, Inc.
AMD has the edge over UCTT overall, supported by stronger valuation and stronger fundamentals.
UCTT
Ultra Clean Holdings, Inc.
UCTT's outlook is improving despite an expensive valuation.
AMD Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
AMD's revenue, profitability, cash flow and balance sheet are all currently strong.
UCTT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Weak | |
| Stable |
UCTT's revenue and profitability are currently healthy, and its balance sheet is stable, but its cash flow 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 has the edge over UCTT in the historical PE scenario, which offers more potential upside but is not a forecast.
UCTT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 8.4x | $48.10 | — |
| Cheap | 18x | $9.98 | -79% |
| Fair | 26x | $15.06 | -69% |
| Expensive | 47x | $26.89 | -44% |
| Current | 84x | $48.10 | — |
Historical ranges are pointers, not guarantees.
UCTT's PE is in its expensive range at 84x. If earnings grow as analysts expect, today's price would be 8.4x next year's earnings, in its cheap range.
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.
UCTT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for UCTT, 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 UCTT on earnings, with more consistent year-over-year improvement.
UCTT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.70 | +899% |
| Q3 2026 | $0.57 | +$4.14 |
| Q2 2026 | -$0.52 | +$2.86 |
| Q1 2026 | -$4.29 | -792% |
| Q4 2025 | -$4.00 | -869% |
| Q3 2025 | -$3.57 | -5200% |
| Q2 2025 | -$3.38 | -$3.18 |
| Q1 2025 | $0.62 | +$1.45 |
| Q4 2024 | $0.52 | +$1.22 |
UCTT has returned to profit: it earned $0.57 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 UCTT on sales, with more consistent year-over-year improvement.
| 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 UCTT on profitability, with a higher operating margin.
UCTT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $759M | +49% |
| Q2 2026 | $644.9M | +24% |
| Q1 2026 | $533.7M | +2.9% |
| Q4 2025 | $506.7M | -10% |
| Q3 2025 | $510M | -5.6% |
| Q2 2025 | $518.8M | +0.5% |
| Q1 2025 | $518.6M | +8.6% |
| Q4 2024 | $563.3M | +27% |
UCTT's revenue is growing: $759M last quarter, up 49% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.1% | +5 points |
| Q2 2026 | 4.6% | +32 points |
| Q1 2026 | 2.1% | -0.4 points |
| Q4 2025 | 2.1% | -2.4 points |
| Q3 2025 | 2.1% | -2.6 points |
| Q2 2025 | -27% | -32 points |
| Q1 2025 | 2.5% | -1.1 points |
| Q4 2024 | 4.6% | +3.6 points |
UCTT's operating margin was 7.1% last quarter, up 5 points from the same quarter a year ago.
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 UCTT on cash generation, producing positive trailing cash flow while its opponent burns cash.
UCTT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$61.8M | -$50.9M |
| Q2 2026 | -$57.3M | -562% |
| Q1 2026 | -$42.9M | -372% |
| Q4 2025 | -$2M | -$1.8M |
| Q3 2025 | -$10.9M | -$10.6M |
| Q2 2025 | $12.4M | +22% |
| Q1 2025 | $15.8M | +$24M |
| Q4 2024 | -$200K | -101% |
UCTT has burned cash in six of the last eight quarters: −$164M over the past year, against $17M 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 UCTT 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.
UCTT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +100K shares |
| 1 year | +1.8% | +800K shares |
| 3 years | +4.3% | +1.9M shares |
UCTT has 46M diluted shares, up 1.8% from a year ago, despite $40M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $40M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
UCTT spent $40M buying back its own shares over the past year.
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.
UCTT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.3x | Moderate |
| Q2 2026 | 3.1x | Elevated |
| Q1 2025 | -2.4x | Net Cash |
| Q4 2024 | 1.4x | Healthy |
| Q3 2024 | -2.8x | Net Cash |
| Q2 2024 | -3.5x | Net Cash |
| Q1 2023 | -2.6x | Net Cash |
| Q4 2022 | 1.0x | Healthy |
UCTT's net debt is about 2.3 years of its operating earnings (EBITDA), after holding more cash than debt 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).
UCTT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.0 | Neutral |
| Stochastic | 12.1 | Oversold |
UCTT's weekly RSI is 38 (neutral) and its Stochastic is 12 (oversold).
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.
UCTT PE vs Technology Sector
| Metric | UCTT | Sector median | Relative |
|---|---|---|---|
| PE | 84x | 28x | 203% above |
| PE % | 90 | 35 | 55 pts above |
UCTT 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 UCTT on trend strength, trading above more of its moving averages.
UCTT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $56.8 | 15% below |
| 20 week MA | $73.5 | 35% below |
| 50 week MA | $67.3 | 28% below |
| 100 week MA | $46.8 | 2.9% above |
| 200 week MA | $41.6 | 16% above |
UCTT has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 16% 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 UCTT on returns for 2026, with the stronger performance.
UCTT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $23.4 | $31.7 | +35% |
| 2021 | $31.7 | $56.2 | +78% |
| 2022 | $56.2 | $33.3 | -41% |
| 2023 | $33.3 | $34.1 | +2.5% |
| 2024 | $34.1 | $36.5 | +7% |
| 2025 | $36.5 | $26.0 | -29% |
| 2026 YTD | $26.0 | $48.1 | +85% |
UCTT has finished higher in four of the last six years. It's up 85% so far in 2026.