Compare · Processors and accelerators
AMD vs NVIDIA
AMD vs NVIDIA: which one is bigger, grows faster and keeps more of each dollar of revenue?
NVIDIA earns 6.2× AMD’s revenue
Method and sources
- Revenue growth (1 year): AMD 34.3% (FY2025), NVIDIA 65.5% (FY2026)
- Revenue growth (3-year CAGR): AMD 13.6% (FY2025), NVIDIA 100.0% (FY2026)
- Operating margin: AMD 10.7% (FY2025), NVIDIA 60.4% (FY2026)
- Gross margin: AMD 49.5% (FY2025), NVIDIA 71.1% (FY2026)
- Net margin: AMD 12.5% (FY2025), NVIDIA 55.6% (FY2026)
- FCF margin: AMD 19.4% (FY2025), NVIDIA 44.8% (FY2026)
Latest fiscal year per company: AMD FY2025, NVIDIA FY2026. Fiscal years end on different dates, so years are not calendar-aligned.
Both report in USD. Amounts are as filed, not converted.
Why this pair: Direct competitors in GPUs and data-center accelerators; added by hand although NVIDIA's revenue is more than 4x AMD's. Peer groups are curated by hand from each company's business as described in its own 10-K/20-F (what it sells, not its SIC code). A company can sit in more than one group. Within a group, a pair is listed when both companies report in the same currency and the larger company's latest fiscal-year revenue is at most 4x the smaller one's; each company keeps its 4 nearest peers by revenue ratio. Companies reporting in different currencies are never size-matched (amounts are not converted); a short list of obvious same-industry pairs across currencies is added by hand, with the reason, as are two direct competitor pairs outside the size rule (AMD vs NVIDIA, Intel vs NVIDIA).
Derived = calculated by Hollsteen from reported SEC values; reported = as tagged in the filing. SEC filings only, no market data.
Side by side: all values with filing links
| Metric | AMD FY2025 | NVIDIA FY2026 |
|---|---|---|
| Revenue | $34.6B10-K · Feb 4, 2026 | $215.9B10-K · Feb 25, 2026 |
| Revenue growth (1 year) | 34.3% derived10-K · Feb 4, 2026 | 65.5% derived10-K · Feb 25, 2026 |
| Revenue growth (3-year CAGR) | 13.6% derived10-K · Feb 4, 2026 | 100.0% derived10-K · Feb 25, 2026 |
| Gross margin | 49.5% derived10-K · Feb 4, 2026 | 71.1% derived10-K · Feb 25, 2026 |
| Operating margin | 10.7% derived10-K · Feb 4, 2026 | 60.4% derived10-K · Feb 25, 2026 |
| Net margin | 12.5% derived10-K · Feb 4, 2026 | 55.6% derived10-K · Feb 25, 2026 |
| Free cash flow | $6.7B derived10-K · Feb 4, 2026 | $96.7B derived10-K · Feb 25, 2026 |
| FCF margin | 19.4% derived10-K · Feb 4, 2026 | 44.8% derived10-K · Feb 25, 2026 |
| R&D as % of revenue | 23.4% derived10-K · Feb 4, 2026 | 8.6% derived10-K · Feb 25, 2026 |
| Stock-based compensation as % of revenue | 4.7% derived10-K · Feb 4, 2026 | 3.0% derived10-K · Feb 25, 2026 |
Definitions: Revenue = Total revenue; Revenue growth (1 year) = Revenue FYt ÷ revenue FYt−1 − 1; Revenue growth (3-year CAGR) = (Revenue FYt ÷ revenue FYt−3)^(1/3) − 1; Gross margin = Gross profit ÷ revenue; Operating margin = Operating income ÷ revenue; Net margin = Net income ÷ revenue; Free cash flow = Operating cash flow − capital expenditures (one formula for all companies); FCF margin = Free cash flow ÷ revenue; R&D as % of revenue = Research and development expense ÷ revenue; Stock-based compensation as % of revenue = Stock-based compensation ÷ revenue.
More on each company
AMD
NVIDIA
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