As of Q4'25, AMD's latest Price-to-Book (P/B) Ratio stands at 5.56, marking a significant increase compared to the previous quarter and reflecting a notable valuation expansion in the most recent period. This latest figure is among the highest observed in the covered timeframe from Q1'23 to Q4'25. Over the analyzed period, AMD's P/B Ratio has demonstrated considerable volatility, starting at 2.40 in Q1'23, peaking at 6.87 in Q3'25, and experiencing several sharp rises and corrections. The ratio saw a pronounced surge in late 2023 and again in the second half of 2025, indicating periods of heightened investor optimism or improved company fundamentals, before slight pullbacks. Overall, the trend suggests an upward re-rating of AMD's valuation over the past two years.