Advanced Micro Devices Inc (AMD) is overvalued and Arm Holdings Plc ADR (ARM) is overvalued.
Both trade above our estimate of their intrinsic value. AMD is the closer of the two: -136%, against -630% for ARM.
Values as of the 22 Sept 2026 close.
A 10.4x revenue multiple, adjusted for growth and margin, values the shares at $264.56; the price of $623.77 is 136% above that value.
Leak Score 48/100 on 10 of 12 signals
A 8.8x revenue multiple, adjusted for growth and margin, values the shares at $45.67; the price of $333.20 is 630% above that value.
Leak Score 43/100 on 3 of 12 signals
| Metric | AMD | ARM |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $623.77 | $333.20 |
| Intrinsic value | $264.56 | $45.67 |
| Margin of safety | -136% | -630% |
| Leak Score | 48/100 (10/12) | 43/100 (3/12) |
| Market cap | $1.02T | $355.9B |
| Revenue growth, 5 years | 28.8% | 19.4% |
| Operating margin | 15.7% | 17.3% |
| Net margin | 15.6% | 20.3% |
| Return on equity | 10.2% | 13.4% |
| Debt to equity | 0.06 | 0.06 |
| P/E | 160.1x | 341.8x |
| Forward P/E | 39.3x | 108.7x |
| P/B | 15.1x | 41.2x |