NASDAQ · Technology

Intel Corporation

INTC · Semiconductors

$133.99

▲ 12.89 (10.64%)

Cached · 10 min

Overall Grade

Defensive

Enterprising

Profitability

F⤢

Gross Profit Margin 39.4%

Operating Margin 6.9%

Net Income Margin -27.5%

Fin. Health

D⤢

Years to Pay Off Debt -12.1 yrs

Working Capital vs Long-Term Debt -$7.8B

Working Capital $35.3B

Valuation

F⤢

Price-to-Book 6.05x

Cash Flow

C⤢

Free Cash Flow -$2.5B

Owner Earnings $3.0B

Profitability

Gross Profit Margin 39.4%

Revenue minus cost of goods sold. Graham's ≥40% threshold identifies businesses with durable pricing power. Note: software and financial companies naturally exceed this; retailers and manufacturers rarely reach it due to their cost structures.

Operating Margin 6.9%

Profit after operating costs before interest and taxes. A consistent ≥15% operating margin signals a business with real competitive advantages. Capital-intensive industries (airlines, auto, commodities) rarely hit this threshold due to their structural cost base — compare within industry for context.

Net Income Margin -27.5%

Bottom-line profit as a percentage of revenue. The ≥20% target reflects Buffett's preference for highly profitable businesses. Financial engineering (buybacks, tax optimisation) can inflate this temporarily — look for consistency across multiple years rather than a single strong result.

Financial Health

Years to Pay Off Debt -12.1 yrs

Total Debt ÷ Net Income. Lower = stronger balance sheet. Important caveat: utilities, telecoms, REITs, and infrastructure companies carry large structural debt by design — their bond-like cash flows service it comfortably at ratios that would alarm Graham. Compare within sector.

Working Capital vs Long-Term Debt -$7.8B

Working Capital minus Long-Term Debt. Negative results are common and expected in capital-return-focused businesses like Apple, Domino's, and McDonald's — where aggressive buybacks and dividends intentionally reduce book equity. This does not indicate financial distress in high-FCF businesses.

Working Capital $35.3B

Current Assets minus Current Liabilities. Negative working capital can be a deliberate efficiency strategy in businesses that collect cash before paying suppliers (retailers, fast food franchises, subscription businesses). Assess alongside free cash flow generation for full context.

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

About Intel Corporation

Intel Corporation designs, develops, manufactures, markets, sells, and services computing and related end products and services in the United States, Ireland, Israel, and internationally. It operates through three segments: CCG, DCAI, and Intel Foundry. The company offers client computing group products, including client and commercial CPUs, discrete client GPUs, edge computing, and connectivity products; data center and AI products, such as server CPUs, discrete GPUs, and networking products; and semiconductors comprising wafer fabrication, substrates, and other related products and services. It also provides driving assistance and self-driving solutions; and develops and manufactures multi-beam mask writing tools. The company sells its products through sales organizations, distributors, resellers, retailers, and OEM partners. It serves original equipment manufacturers, original design manufacturers, cloud service providers, and other manufacturers and service providers. Intel Corporation has a strategic collaboration with Infosys Limited to develop a multi-layer AI fabric that unifies infrastructure, models, data, applications, and workflows into a composable and agent-ready ecosystem. The company was incorporated in 1968 and is headquartered in Santa Clara, California.

Market Data

Market Cap $673.4B

Enterprise Value $614.1B

P/E (TTM) 86.70

Dividend Yield N/A

Exchange NASDAQ

Key Margins

Gross Profit 39.4%

Operating Margin 6.9%

Net Margin -27.5%

Company Info

Sector Technology

Industry Semiconductors

Employees 85100

Country United States

Visit website

Showing Key Metrics

Income Highlights

Metric	Q1 2026	Q4 2025
Gross Profit %	39.4%▲	36.1%
Operating Margin %	6.9%▲	4.0%
Net Income %	-27.5%▼	-4.3%
Diluted EPS	-0.73▼	-0.12

Balance Sheet Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Total Assets	$205.3B	$211.4B	N/A
Total Debt	$45.0B▼	$46.6B•	N/A
Working Capital	$35.3B▲	$32.1B•	N/A
Years to Pay Debt	-12.08	-78.82	N/A

Cash Flow Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Free Cash Flow	-$2.5B▼	$800M•	N/A
Owner Earnings	$3.0B	$5.9B	N/A
CapEx % of Net Income	N/A	N/A	N/A

Income Statement

	2026	2025
Tax Effect Of Unusual Items	-2,092,800	-83,580
Tax Rate For Calcs	0	0
Normalized EBITDA	4,686,000	4,046,000
Total Unusual Items	-5,232,000	-398,000
Total Unusual Items Excluding Goodwill	-5,232,000	-398,000
Net Income From Continuing Operation Net Minority Interest	-3,728,000	-591,000
Reconciled Depreciation	3,136,000	3,027,000
Reconciled Cost Of Revenue	8,230,000	8,731,000
EBITDA	-546,000	3,648,000
EBIT	-3,682,000	621,000
Net Interest Income	352,000	186,000
Interest Expense	264,000	283,000
Interest Income	333,000	325,000
Normalized Income	-588,800	-276,580
Net Income From Continuing And Discontinued Operation	-3,728,000	-591,000
Total Expenses	12,643,000	13,124,000
Total Operating Income As Reported	-3,136,000	580,000
Diluted Average Shares	5,083,000	4,856,000
Basic Average Shares	5,083,000	4,856,000
Diluted EPS	0	0
Basic EPS	0	0
Diluted NI Availto Com Stockholders	-3,728,000	-591,000
Net Income Common Stockholders	-3,728,000	-591,000
Net Income	-3,728,000	-591,000
Minority Interests	553,000	-258,000
Net Income Including Noncontrolling Interests	-4,281,000	-333,000
Net Income Continuous Operations	-4,281,000	-333,000
Tax Provision	335,000	671,000
Pretax Income	-3,946,000	338,000
Other Income Expense	-5,232,000	-398,000
Special Income Charges	-4,132,000	-260,000
Gain On Sale Of Business		-222,000
Other Special Charges	31,000	-173,000
Write Off	4,027,000	175,000
Restructuring And Mergern Acquisition	74,000	36,000
Gain On Sale Of Security	-1,100,000	-138,000
Net Non Operating Interest Income Expense	352,000	186,000
Total Other Finance Cost	-283,000	-144,000
Interest Expense Non Operating	264,000	283,000
Interest Income Non Operating	333,000	325,000
Operating Income	934,000	550,000
Operating Expense	4,413,000	4,393,000
Research And Development	3,375,000	3,219,000
Selling General And Administration	1,038,000	1,174,000
Gross Profit	5,347,000	4,943,000
Cost Of Revenue	8,230,000	8,731,000
Total Revenue	13,577,000	13,674,000
Operating Revenue	13,577,000	13,674,000

Balance Sheet

	2026	2025	2024
Ordinary Shares Number	5,023,000	4,994,000
Share Issued	5,023,000	4,994,000
Net Debt	27,784,000	32,320,000
Total Debt	45,031,000	46,585,000
Tangible Book Value	88,207,000	87,597,000
Invested Capital	156,425,000	160,866,000
Working Capital	35,272,000	32,113,000
Net Tangible Assets	88,207,000	87,597,000
Common Stock Equity	111,394,000	114,281,000
Total Capitalization	154,421,000	158,367,000
Total Equity Gross Minority Interest	124,989,000	126,360,000
Minority Interest	13,595,000	12,079,000
Stockholders Equity	111,394,000	114,281,000
Gains Losses Not Affecting Retained Earnings	-44,000	113,000
Other Equity Adjustments	-44,000	113,000
Retained Earnings	45,179,000	48,983,000
Capital Stock	66,259,000	65,185,000
Common Stock	66,259,000	65,185,000
Total Liabilities Net Minority Interest	80,343,000	85,069,000
Total Non Current Liabilities Net Minority Interest	53,458,000	53,494,000
Other Non Current Liabilities	10,431,000	9,408,000
Long Term Debt And Capital Lease Obligation	43,027,000	44,086,000
Long Term Debt	43,027,000	44,086,000
Current Liabilities	26,885,000	31,575,000
Current Deferred Liabilities
Current Debt And Capital Lease Obligation	2,004,000	2,499,000
Current Debt	2,004,000	2,499,000
Other Current Borrowings		2,499,000	3,729,000
Pensionand Other Post Retirement Benefit Plans Current	2,824,000	3,990,000
Payables And Accrued Expenses	22,057,000	25,086,000
Current Accrued Expenses	14,898,000	14,600,000
Payables	7,159,000	10,486,000
Total Tax Payable		604,000	1,756,000
Income Tax Payable		604,000	1,756,000
Accounts Payable	7,159,000	9,882,000
Total Assets	205,332,000	211,429,000
Total Non Current Assets	143,175,000	147,741,000
Other Non Current Assets	7,049,000	7,131,000
Investments And Advances	8,481,000	8,512,000
Investmentin Financial Assets	8,481,000	8,512,000
Available For Sale Securities	8,481,000	8,512,000
Long Term Equity Investment
Goodwill And Other Intangible Assets	23,187,000	26,684,000
Other Intangible Assets	2,722,000	2,772,000
Goodwill	20,465,000	23,912,000
Net PPE	104,458,000	105,414,000
Accumulated Depreciation	-107,896,000	-106,464,000
Gross PPE	212,354,000	211,878,000
Construction In Progress		34,543,000	50,418,000
Machinery Furniture Equipment		111,940,000	103,150,000
Properties		65,395,000	56,544,000
Current Assets	62,157,000	63,688,000
Other Current Assets	12,876,000	10,815,000
Inventory	12,426,000	11,618,000
Finished Goods	2,504,000	2,785,000
Work In Process	9,004,000	7,840,000
Raw Materials	918,000	993,000
Receivables	4,066,000	3,839,000
Accounts Receivable	4,066,000	3,839,000
Cash Cash Equivalents And Short Term Investments	32,789,000	37,416,000
Other Short Term Investments	15,542,000	23,151,000
Cash And Cash Equivalents	17,247,000	14,265,000

Cash Flow

	2026	2025	2024
Free Cash Flow	-2,540,000	800,000
Repayment Of Debt	-1,500,000	0
Issuance Of Debt	0	0
Capital Expenditure	-3,636,000	-3,488,000
Interest Paid Supplemental Data	600,000	-50,000
Income Tax Paid Supplemental Data	261,000	360,000
End Cash Position	17,695,000	14,712,000
Beginning Cash Position	14,712,000	11,141,000
Changes In Cash	2,983,000	3,571,000
Financing Cash Flow	-1,206,000	5,849,000
Cash Flow From Continuing Financing Activities	-1,206,000	5,849,000
Net Other Financing Charges	-133,000	831,000
Proceeds From Stock Option Exercised	427,000	8,963,000
Net Issuance Payments Of Debt	-1,500,000	0
Net Short Term Debt Issuance	0	0
Short Term Debt Payments		0	0
Short Term Debt Issuance	0	0
Net Long Term Debt Issuance	-1,500,000	0
Long Term Debt Payments	-1,500,000	0
Investing Cash Flow	3,093,000	-6,566,000
Cash Flow From Continuing Investing Activities	3,093,000	-6,566,000
Net Other Investing Changes	67,000	417,000
Net Investment Purchase And Sale	7,258,000	-2,824,000
Sale Of Investment	14,448,000	5,094,000
Purchase Of Investment	-7,190,000	-7,918,000
Net Business Purchase And Sale	-596,000	-671,000
Sale Of Business	0	-671,000
Purchase Of Business	-596,000
Net PPE Purchase And Sale	-3,636,000	-3,488,000
Purchase Of PPE	-3,636,000	-3,488,000
Operating Cash Flow	1,096,000	4,288,000
Cash Flow From Continuing Operating Activities	1,096,000	4,288,000
Change In Working Capital	-3,498,000	459,000
Change In Other Working Capital	-1,156,000	374,000
Change In Payables And Accrued Expense	-1,317,000	825,000
Change In Accrued Expense	-1,175,000	247,000
Change In Payable	-142,000	578,000
Change In Account Payable	-142,000	578,000
Change In Inventory	-808,000	-129,000
Change In Receivables	-217,000	-611,000
Changes In Account Receivables	-217,000	-611,000
Other Non Cash Items	3,965,000	104,000	-135,000
Stock Based Compensation	621,000	538,000
Unrealized Gain Loss On Investment Securities	54,000
Asset Impairment Charge	62,000	-182,000
Deferred Tax	-9,000	205,000
Deferred Income Tax	-9,000	205,000
Depreciation Amortization Depletion	3,136,000	3,027,000
Depreciation And Amortization	3,136,000	3,027,000
Amortization Cash Flow	234,000	241,000
Amortization Of Intangibles	234,000	241,000
Depreciation	2,902,000	2,786,000
Operating Gains Losses	1,046,000	1,901,000
Gain Loss On Investment Securities	1,046,000	1,869,000
Gain Loss On Sale Of Business		32,000
Net Income From Continuing Operations	-4,281,000	-333,000

📊 Quarterly mode — Graham Fair Value & 7 Criteria require annual data. Switch to Annual for full analysis.

Quarter vs Same Quarter Last Year

YoY strips seasonality

Revenue Growth (YoY)

Prior year: $12.7B ▲ $13.6B +7.2%

Revenue growth vs same quarter last year strips seasonality. Consistent double-digit growth is a Buffett hallmark.

Gross Margin

Prior year: 36.9% ▲ 39.4% +2.5pp

Buffett: consistent gross margin above 40% signals durable pricing power and competitive moat.

Operating Margin

Prior year: 7.4% ▲ 6.9% -0.5pp

Graham: operating margin reflects true business economics before financing. Trend matters as much as level.

Net Margin

Prior year: -6.5% ▼ -27.5% -21.0pp

Net margin can be distorted by one-time items, tax timing, or interest costs — compare to operating margin for signal quality.

Quarterly Health Checks

3 Graham/Buffett criteria that are valid and reliable on quarterly data

✅ Adequate Size

Graham required scale for resilience. Quarterly revenue × 4 gives an annualised proxy.

$13.6B/qtr (≈$54.3B ann.)

vs > $1.5B annualised revenue

✅ Financial Condition

Current assets vs current liabilities — a real-time liquidity snapshot. Valid and reliable on quarterly data.

2.31x current ratio

vs ≥ 2.0x

❌ Free Cash Flow

Buffett's most important single metric. A positive FCF quarter means the business generated real cash for owners after maintaining its asset base.

-$2.5B

vs Positive

Operating Cash Flow

$1.1B

Latest quarter · Buffett's cash reality check

ROIC

0.4%

Based on latest annual operating income

Return on Invested Capital — Buffett's preferred measure for asset-light businesses. ROIC > 15% consistently signals a durable competitive advantage (moat). More meaningful than P/B for software, pharma, and consumer brand companies where most value is intangible and off-balance-sheet.

Market Cap / Net Assets

5.4x

Net Assets: $125.0B

Asset Context — Semiconductors

This company's primary assets are likely intangible (brand, IP, talent, network effects) and don't appear on the balance sheet. Net Assets may significantly understate intrinsic value. ROIC and free cash flow are more reliable indicators of business quality.

⚠️ Net margin compressed 21.0pp vs same quarter last year. Common causes: one-time charges (restructuring, write-downs, legal settlements), tax rate changes, or rising interest expense. Check the income statement notes before drawing conclusions about operating health.

⚠️ Operating income is positive but net income is negative. This typically reflects below-the-line items: interest expense, impairment charges, tax adjustments, or one-time write-offs. The core business may be healthy — operating margin is a better signal of ongoing profitability here.

Peers & Industry Comparison

Semiconductors — Auto-detected peers

Company	Price	Market Cap	P/E	Gross Margin	Net Margin	Revenue
INTC	$133.99	$673.4B	86.70	39.4%	-27.5%	$13.6B
NVDA NVIDIA Corporation	$210.69	$5,103.1B	32.3	74.1%	63.0%	$253.5B
AMD Advanced Micro Devices, Inc.	$537.37	$876.2B	179.7	53.1%	13.4%	$37.5B
QCOM QUALCOMM Incorporated	$226.11	$238.3B	24.3	54.8%	22.3%	$44.5B
AVGO Broadcom Inc.	$411.35	$1,957.0B	68.2	76.3%	38.8%	$75.5B

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

14.72%

High — management has strong skin in the game

Return on Equity (ROE)

-3.3%

Weak — poor returns on equity

Return on Assets (ROA)

-1.8%

Poor — assets are not generating adequate returns

Debt Trend YoY

-3.3% YoY

Debt is declining — management is deleveraging

Leadership Team

Lip-Bu Tan

CEO & Director

Age 66

Pay: $3,828,200

David Zinsner

Executive VP, CFO and Principal Financial & Accounting Officer

Age 56

Pay: $4,218,200

Pushkar Ranade Ph.

CTO & Chief of Staff to the CEO

John William Pitzer

Corporate Vice President of Corporate Planning & Investor Relations

Top Institutional Holders

Institution	% Owned	Shares
Blackrock Inc.	8.90%	447,550,132
Vanguard Capital Management LLC	5.61%	282,011,285
Nvidia Corp	4.27%	214,776,632
State Street Corporation	4.26%	214,321,018
Geode Capital Management, LLC	2.18%	109,534,637
Softbank Group Corporation	1.73%	86,956,522
Vanguard Portfolio Management LLC	1.70%	85,427,273
Capital World Investors	1.59%	79,877,133

⚠️ Very high beta — extreme price volatility

Risk Analysis

Beta (Market Risk)

2.23

High volatility — moves more than the market

Short Interest

2.7% of float

Low short interest — market is not heavily bearish

Debt-to-Equity

0.36x

Conservative balance sheet — low financial risk

Current Ratio

2.31x

Strong liquidity — Graham approved

52-Week Price Range

Low: $18.97 Current: $133.99 High: $135.48

Currently at 99% of 52-week range

Intel Corporation

Metric Explanations

Income Highlights

Balance Sheet Highlights

Cash Flow Highlights

Quarter vs Same Quarter Last Year

Quarterly Health Checks

Operating Cash Flow

ROIC

Market Cap / Net Assets

Peers & Industry Comparison

Capital Allocation & Alignment

Leadership Team

Top Institutional Holders

Risk Analysis