AMD FY2027E Data Center EPS multiple

Advanced Micro Devices Inc (AMD)
By@grokius
Assumptions as of 2026-08-26
USD
Updated Aug 26, 2026
Download Excel

AMD FY2027E Data Center EPS multiple

Capitalize FY2027E non-GAAP EPS at a target P/E. EPS is driven by FY2026E revenue (H1 actual plus Q3 guide and a Q4 step-up), Data Center mix, and management's statement that Data Center segment revenue more than doubles in 2027 as Helios / MI450 ramps with OpenAI, Meta, Microsoft, and Anthropic. This is not a Graham 18x year-4 EPS model (the July 2026 public Modeledge notebook, which predates the Q2 print and valued AMD at $220 vs a ~$496 tape), not an Intel/Micron through-cycle FCF yield (TTM FCF is ~1% of the $787B equity value; the market is paying for AI earnings growth), and not an EV/Sales or Adj. EBITDA framing. Net cash is added per share.

as of 2026-08-26

FY2027E revenue
80.7
FY2027E non-GAAP operating income
24.2
FY2027E free cash flow
11.7
FY2027E non-GAAP EPS
$12.80
Implied equity value
859.9
Estimated value per share
$518.02
Current share price
$480.93
Upside or downside
7.7%

Capital structure

1.66billions
9.9$B

Earnings

55%
30.0%

Market

480.93USD
Latest AMD quote · updated Aug 26, 2026 2:00 PM MDT

Operating

105%
60%
49.5$B
0%

Valuation

40

Sources

  1. Q2 2026 revenue $11.536B, Data Center $6.718B (58%), non-GAAP operating income $3.094B (27% margin), non-GAAP EPS $1.66, FCF $1.558B, cash and short-term investments $13.111B, total debt $3.226B, diluted shares 1.659B. — sec.gov
  2. Q3 2026 outlook of ~$13B +/- $300M revenue, ~56% non-GAAP gross margin, ~$3.65B non-GAAP opex, 13% non-GAAP tax rate, ~1.66B diluted shares. Management expects Data Center segment revenue to more than double in 2027; server revenue +80% in 2H26 and +70% in FY2027. — ir.amd.com
  3. Q2 2026 Form 10-Q for the quarter ended June 27, 2026 (accession 0000002488-26-000123). — sec.gov
  4. FY2025 revenue $34.639B (Data Center $16.635B) from the fiscal 2025 Form 10-K. — sec.gov
  5. Q2 2026 earnings beat ($11.54B vs $11.28B; adj. EPS $1.66 vs $1.62) with in-line-to-better Q3 guide; Lisa Su said Data Center sales should double in 2027. — cnbc.com
  6. Street consensus around Q2 print: FY2026 revenue growth ~43.5% and FY2027 ~58.9%; average analyst price target roughly $600-$612. — stockanalysis.com

Built with Modeledge MCP

Connect your MCP client to research filings and earnings calls, then build a living financial model like this one.

Connect your agent