💵 Buy AMD stock market 2019?? 📈📈 AMD stock Part 2/2!

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AMD 재무제표 분석 2부작 후속편으로, 분기 실적과 재무 지표를 점검한 결과 기업이 아직 손익분기 수준이지만 성장 중이라고 평가하며 본인은 AMD 포지션을 늘릴 예정이라고 밝힘 [실적·매출] 2019년 1분기 매출은 2018년 6월 고점 대비 감소했으나 2017년 수준보다는 높음. 매출원가도 함께 줄었고 매출총이익은 약 5억 2,100만 달러로 전분기 대비 소폭 감소에 그침 [수익성] 영업이익(세전이익)은 약 3,000만 달러로 평탄하며 순이익은 약 1,600만 달러(전분기 3,800만 달러). 과거 적자(2012년 약 -5억 9,000만 달러, 2016년 약 -4억 달러)와 비교해 손익분기 달성 자체를 긍정적으로 평가 [마진] 매출총이익률은 41%로 과거 수년 내 고점 수준. 다만 순이익률은 약 1.3%로 낮아 매출총이익이 이익으로 잘 전환되지 않는다고 지적 [재무상태] 총자산 증가, 총부채 감소로 부채를 상환 중. 총부채는 약 17억 달러에서 13억 달러로 감소. 현금성자산 약 19억 7,800만 달러로 10억 달러 목표 유지. 매출채권 약 12억 4,000만 달러, 매입채무 약 9억 3,000만 달러로 현금 유입이 유출보다 많음 [리스크] 주식 수 증가율 4.4%로 희석 우려 제기. 영업현금흐름은 아직 적자로 현금 소진 가능성 언급(약 10년 소진 추정치 제시). 과거 분기 순손실, 주당순이익 적자 등 레드플래그는 대부분 과거 분기 문제로 평가 [결론] 성장 기업으로서 잠재력이 있으며 현재 지표는 대체로 양호하나 희석과 현금흐름 적자는 주시 필요. 발표자는 AMD 매수(포지션 확대) 의향 표명

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01. this is gonna be part 2 of AMD's episode if you didn't take a look at the last episode in the last episode we took a look at their earnings report and their earnings transcript for their conference call and see what was going on for this past quarter in today's episode I'm going to use a website known as slay CFA calm which allows me to see all this information and easy visual data let's see where we're at with a m/v but when but let's begin so here we are in lacf a.com we're gonna take a look at their income statement their balance sheet their cash flow statement and we're also gonna take a look at the red flags that lacy f8 gives us something to keep an eye out we're gonna also take a look at the quarterly data only not the yearly data since the last quarter was quarter 1 of 2019 so there's only the only reason we're looking at this data is for the quarterly data so we can see here revenue is them compared to its beak in 2018 June of 2018 you'll see this decrease happening but we do understand that it is a decrease because of slowdown and everything going on but we can see it's not pretty bad it's still higher than compared to order one of what is this order 1 of 2017 so overall ear to ear if we erase this year which was a huge huge thing mean the graphics and botching but though we can see we're still increasing over time cost of revenue right with less revenue we have less cost of revenue we can see our cost of revenue is sitting at 151 billion dollars and again if we take a look at previous quarter of 2017 actually less than that gross profit this company is collecting a nice amount of gross profit even though the revenue has decreased dramatically there's gross profit right now is sitting at 520 billion only only about 15 million dollars less than last than last quarter when their actual revenue was more than was more than 200 million dollars left that's definitely a great thing it means this company is getting better and keep its money you can see earnings before income taxes there are a little bit on the positive but it's pretty much pretty flat at 30 million dollars and their net income again it's about 16 million dollars last quarter was 38 million for a company this size this is definitely still break even though this company the hospital to grow that's one thing that a lot of shareholders are you are looking at this company or this come definitely as company a room to grow as we can see in further quarters previous quarters this was in the negative some even as low as negative 590 million in 2012 we can see in 2014 at a negative 304 million Hemans as reason is 2016 at a negative 400 million dollar so for it to just be break-even that's definitely good news overall as the company but so much can change thanks we'll take a look at the red flags that lacy f8 gives us here is just we're just gonna see again what we just saw in a different different manner so here we see the revenue and cost of revenue in the same graph you can see that revenue and cost of revenue distance is pretty high and that's why we have the gross profit which is the difference the gross profit is pretty good at about five hundred twenty-one million like mentioned you can see revenue growth let's take a look at quarter or order don't just like to see if there's any abnormals in changes we can see it's almost a one-to-one ratio between revenue growth cost of revenue and that this has not changed right now these past six seven quarters it has been a one to one post a one to one ratio and that's the only thing I want to take a look at right now I don't really care about numbers right now I want to make sure everything is still normal here gross margin we can see gross margin is going up right now gross margin is sitting at 41% or last quarter was thirty seven point eight and the previous quarter was forty right now it's definitely at its peak compared to where it has been in the previous quarters let's see if we can find a quarter that was higher than that that would have to go back all the way to 2012 we had a forty five point and gross margin and again we can see that steady increase going up in that gross margin unfortunately we can see that profit margin right is pretty low for this company and that's what we have that little net income of break-even if this company is only keeping one point three percent of its gross on margin and converting it into profits next we're gonna take a look at total assets and the balance sheets we have the total assets total liabilities total debt receivables payables and cash and cash equivalents so these are all I this is my favorite sheet take a look at cuz I feel like I can learn so much from the company here we can see total assets this company is over assets at the same time it does seem like total liabilities is decreasing you can see it's definitely total debt is definitely going down like I mentioned in the previous the previous episodes we saw that this company went from 1.7 billion dollars of total debt to 1.3 billion dollars this company is paying office that you can see with this total assets increasing and total liabilities decreasing or shareholder equity is going to be the company has about one point nine hundred and seventy eight million dollars cash and cash equivalents company is trying to keep within its 1 billion dollar target I forget what year was I think it 2010 um late 2017 they mentioned that they wanna maintain at least a 1 billion dollars in cash and cash equivalents and they have been maintaining it and right now they're sitting almost at the 1 million 1 billion dollar fashioned cash equivalents and that's definitely a pretty huge amount of money that this company as receivables this company receives about 1.2 4 billion dollars and it's past payables of 930 Miller says definitely the receivables are usually assets repayable are our liabilities so it's I usually like to pin these against each other this company is receiving more money than it's paying to its customers all right it has has a lot more money to come in then more money to come out so now we'll take a look at the red flags or actually let's go back to real quick to red flags here to see if there's any type of red flags we will want to take a look at the first red flag is just telling us that cost of revenue grows at a faster rate than revenue itself you can see this probably has to be with some outliers throughout the years but you can take a look at the quarter quarter it's almost a one-to-one ratio so we'll not worry about that it has a net negative income for most of the time again this is just we've mentioned this company is growing at the moment it definitely was almost at the branch of bankruptcy back in 2012 it's definitely good to see this company going back to at least breaking even poop it does have plenty of quarters where it had negative net income look and not anything I'm worried about this is pretty much the same thing negative earnings per share like a previous quarters are definitely triggering the bikes the shares outgoing growth it's definitely crazy the amount of this company is diluting more shares every quarter and that's definitely I'm usually not a fan of that just right because in theory many value in the stock when you're putting more shares out there though this quarter it seems that there was a 4.4 percent increase in the way that average shares that's definitely here we see that's looks die Lucien but we're just thinking oh look at those are the only flags I see and most of them were pretty much from old quarters the only one I really am focused on about here is the expanding growth in Aires this company is diluting a lot of its 4.4% in my opinion is a big amount now we're here we're here back in the balance sheet of the red flags like I mentioned right the assets versus liability gap is increasing so we are at an all-time high and shareholder equity sitting about 1.8 billion dollars and we can see there hasn't been a quarter sin dozen nine that had up this assets versus liability growth you can see quarter quarter again it's almost it definitely doesn't have a pattern it does seem like assets at the moment are going at a faster rate then liabilities which is a good thing this is my favorite thing from here is the acid distribution and liability distribution we can see liability distributed a huge portion 55% is non current debt sitting at one point two four billion dollars and like I mentioned in the last episode there's no long-term debt stored until 2022 this definite good thing that definitely don't want to see this company breeze is it's it's long-term debt right now if it doesn't have to you can see the next thing is payable is 41.57 person okay that's definitely not a lot compared to its current asset distribution so I'm definitely liking how this life of in addition but it's changing over years in order recorder is definitely becoming more attractive that they are reducing their non current that payables are a huge portion of the liabilities but we can see that receivables is a higher value than them they have only seventy million dollars to pay within this year and that's not worried about independent that this company that off pretty easy as a distribution you have cash and cash equivalents sitting at 25 percent of the total cash and cash equivalents this is definitely pretty good even though this company is um has a lot of products their inventory does not increase that much over time that this mean this complete is not over stocking or over holding hurry and sitting at 20% for a company like this this is definitely a good amount of assets like I said the amount of growth is not ridiculous tells me to 700-800 range so right now sitting at 700 definitely a great great number you can see receivables is another huge portion sitting at thirty two point nine percent one point billion you can see it definitely is distributed more evenly within within other assets so this company the only red flag it tells us it's just showing us that the net cash flow from operations is pretty low compared to there's this telling us that this company could burn out of cash within some form of time right it even gives us current burn down time 120 months old 20 20 10 years if things don't change for this company but again obviously a lot of potential in this company from the last episode and finally the last thing I just want to take a look at is net cash flow from operations we can see this is still negative like I mentioned this is definitely a growth company we're definitely gonna see a negative net cash flow from operations but at the moment everything else looks good for me so taking a look at the quarter one report we did in the last episode yesterday to me AMD is still a bi and I am gonna be amazing my position in AMD so I hope you guys enjoyed that episode of AMD it was a two-part episode let me know what you guys think of AMD are you buying are you holding off on the company what do you like about the company what do you hate about the company again don't forget to subscribe to get more updates on videos like this take care guys see you next time and enjoy the rest of your day