Intel (INTC)
Information Technology · $310B market cap · SEC CIK 0000050863
$58.13
▼−2.09% on the day
close of Nov 10, 2026
1
Screens badly
ahead of 1% of the S&P 500 · #73 of 73 in Information Technology
ahead of 1% of the S&P 500 · #73 of 73 in Information Technology
Next reports on Jan 20, 2027, after the close, with analysts expecting $0.25 in earnings per share.
52-week range $32.89 to $142.35. 59% below its 52-week high and 77% above its low.
The case for INTC
- Revenue growing 12.1% year over year.
- Current assets cover the near-term bills 2.2 times over.
- Pays a modest 1.1% dividend.
- Up 55.7% over the past year.
The case against
- Losing money over the last year: net margin −20.1%, return on equity −11%.
- Burned $4.9B of free cash in FY2025.
- Earnings per share down 30.2%.
- Operating profit covers its interest bill only 2.1 times.
- Free-cash-flow yield of −1.6% is lower than 96% of Information Technology companies.
- The price trend is weak (39/100): +55.7% over a year, −39.1% over three months, 59% below its 52-week high.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Information Technology companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings and cash, against the growth you get | 15 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 13 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 9 |
| Momentumhow the price has behaved lately | 39 |
| Stabilityhow violently it moves, what it owes and what it pays you | 18 |
- It is losing money, so it has no P/E; that counts against value rather than being skipped.
- Each factor except momentum is half fixed thresholds, half rank among the 73 Information Technology companies.
The financials
Revenue growth
Is the business growing? Yes
| Last 12 months | +12.1% |
|---|---|
| Over 5 years | −7.5% a year |
| FY2025 revenue | $52.9B (0%) |
Free cash flow
Is it generating real cash? No, it is burning cash
| FY2025 free cash flow | −$4.9B |
|---|---|
| Of revenue | −9% |
| Of profit | n/a |
Profit margins
Is profitability improving? Improving, still at a loss
| Gross margin | 40% |
|---|---|
| Operating margin | 3% |
| Net margin, FY24 → FY25 → now | −35.3% → −0.5% → −20.1% |
Debt vs. cash
Is the balance sheet healthy? Mostly, with some debt to carry
| Cash | $14.3B |
|---|---|
| Long-term debt | $44.1B |
| Net debt | $29.8B |
| Years to repay | 4.5 yrs |
Valuation
Is the stock price reasonable? Hard to say: no earnings to price
| P/E | n/a (a loss) |
|---|---|
| Fair P/E for its growth | 10× |
| P/FCF | no free cash flow |
| Forward P/E | 36.9× |
| EV / EBITDA | 25.1× |
| Price / sales | 5.2× |
It has no earnings to price. Its free cash flow is negative, which counts against it.
The financials, five years deep
Pulled from Intel's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue growth | |||||
| Revenue | $52.9B | $53.1B | $54.2B | $63.1B | $79.0B |
| Change on the year | 0% | −2% | −14% | −20% | — |
| Free cash flow | |||||
| Free cash flow | −$4.9B | −$15.7B | −$14.3B | −$9.4B | $10.7B |
| Of revenue | −9% | −29% | −26% | −15% | 14% |
| Profit margins | |||||
| Gross margin | 34.8% | 32.7% | 40.0% | 42.6% | 55.4% |
| Operating margin | −4.2% | −22.0% | 0.2% | 3.7% | 24.6% |
| Net margin | −0.5% | −35.3% | 3.1% | 12.7% | 25.1% |
| Debt vs. cash | |||||
| Cash | $14.3B | $8.2B | $7.1B | $11.1B | $4.8B |
| Long-term debt | $44.1B | $46.3B | $47.0B | $37.7B | $33.5B |
| Net cash (debt) | −$29.8B | −$38.0B | −$39.9B | −$26.5B | −$28.7B |
What Intel says it does
development of business Pages 3 - 5 , 18 Description of business Pages 3 - 24 , 33 , 52 , 72 - 75 Available information Page
Risk factors INTC lists in its 10-K
- Intel, Arc, Intel Core, FlexRAN, Gaudi, the Intel logo, Thunderbolt and the Thunderbolt logo, Intel vPro and Xeon are trademarks of Intel Corporation or its subsidiaries
- * Other names and brands may be claimed as the property of others
- Employee headcount includes our core Intel workforce as well as employees at Mobileye and other subsidiaries
- Years Ended (In Millions, Except Per Share Amounts)
- Net income (loss) attributable to Intel
- Earnings (loss) per share attributable to Intel—diluted
- Totals may not sum due to rounding
- Excludes intersegment revenue; totals may not sum due to rounding
- Total restructuring and other charges
- Employee severance and benefit arrangements
- Unrealized gains (losses) on equity investments, net
- Gains (losses) on equity investments, net
- Unrealized gains (losses) on non-marketable investments includes observable price adjustments and our share of equity method investee gains (losses) and certain distributions
- realized gains (losses) on sales of equity investments, net
- total cash and short-term investments
- Net cash provided by (used for) operating activities
- Net cash provided by (used for) investing activities
- Net cash provided by (used for) financing activities
- Net increase (decrease) in cash and cash equivalents
- Dependence on Third-Party Foundries
- Losses with Respect to our Investments in R&D and Manufacturing Facilities and Equipment
- Loss of Eligibility for Government Incentives
- Potential Penalty Payments Under our SCIP Agreements
- earnings (loss) per share attributable to Intel
- The legislative, judicial or executive branches of the U.S. government could determine in the future that all or a portion of the transactions were unauthorized, void or voidable
- The transactions are dilutive to existing stockholders
- The U.S. government’s equity position reduces the voting and other governance rights of our other stockholders and may limit potential future transactions that may be beneficial to such stockholders
- Our non-U.S. business may be adversely impacted by the U.S. government being a significant stockholder
- Executive Vice President and Chief Technology and Operations Officer, General Manager of Intel Foundry
- Executive Vice President and Chief Legal Officer
- Executive Vice President and Chief Financial Officer
- How We Addressed the Matter in Our Audit
- Goodwill Impairment Assessment - Mobileye Reporting Unit
- Earnings (loss) per share attributable to Intel—basic
- Total comprehensive income (loss) attributable to Intel
- Liabilities and stockholders' equity
- Commitments and Contingencies (Note 19)
- Total liabilities and stockholders' equity
- Cash and cash equivalents, beginning of period
- Cash, cash equivalents, and restricted cash, end of period
- Common Stock and Capital in Excess of Par Value
- Accumulated Other Comprehensive Income (Loss)
- (In Millions, Except Per Share Amounts)
- We made a cumulative-effect adjustment to the opening balance of retained earnings upon adopting ASU 2023-08
- Includes $ 110 million of allocated proceeds to warrants from the U.S. Government Agreement we entered into in August 2025
- other current assets, other long-term assets, other accrued liabilities