Intel Financial Statements and Financial Ratios Analyzed from 2015 to 2019

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Hey All,

Thanks for visiting my Intel Financial Report page. On this page, you will be able to find preliminary information about Intel's current financial performance as well as some historical track records and trends. 

For a more detailed examination of Intel's financial performance, please check out the "Financial Report".  In this report, written by myself, Paul Borosky, MBA., Doctoral Candidate, and published author, you will find:

  • Summarized income statement for the last 5 years.
  • Summarized balance sheet for the last 5 years.
  • Summary analysis by myself of important income statement, balance sheet, and financial ratio trends and other happenings.
  • Five year’s worth of over twenty common financial ratios presented with formulas, calculations, and analysis tips for each ratio.
  • Line by line description, explanation, and analysis tip for most financial statement line items and financial ratios.
  • Professional financial analysis tips provided in each section to help YOU conduct your OWN financial analysis!
  • Each section includes an “in other words” segment.  This is were I use plain English to explain concepts.

Enjoy the preliminary information and for a more detailed analysis, buy the financial report!

Sincerely,

Paul Borosky, MBA.

PDF/Downloadable Version

Intel Financial Report by Paul Borosky, MBA.
  • Free Bonus Downloads: Intel's Annual Statements for the Last Five Years (10k reports)!

Sample Financial Report

Sample Financial Report by Paul Borosky, MBA.
Financial Report Sample 2

Intel: Brief Summary

Intel Incorporated is one of the most sought-after stocks in the world.  The company’s legendary founder, Gordon Moore, is world-renowned.  Intel Inc. continues to innovate and disrupt their industry under the current leadership of Bob Swan. 

These circumstances have resulted in the organization becoming an industry leader.  For some, these facts alone are reason enough to buy stock in the company.

Intel Financial Report Sources

“Intel 2019 Company Analysis: Financial Statements and Financial Ratios: Defined, Discussed, and Analyzed for 5 Years” was written by, Paul Borosky, MBA. and owner of Quality Business Plan.  In this book, the author selected Intel's 2019 10k, 2017 10k annual report, 2016 10k annual report, 2015 10k annual report, and Intel's 2019 10k annual report as the basis for information gathering. 

Section 1: Intel Income Statement Analyzed 2015 to 2019

In this section, I walk through a broad definition as to what an income statement is and why it is important.  From this, I then discuss and define income statement line items, such as revenues, gross profits, etc. in detail.  After each line item is defined and discussed, I finally offer a summary analysis of Inte's important income statement line item trends from 2015 to 2019, in most cases.

Revenue Growth:  Intel’s revenues ended 2015 at $55 billion.  Over the next five years, the company increased its revenues to approximately 71.9 billion.  This is an average growth rate of about 7%.  However, the slowest annual growth rate was 1.6% from 2018 to 2019.  If this trend continues, then investors should expect the company to initiate cost-cutting measures to best optimize operations to account for slower revenue growth.

SG&A:  The company’s SG&A was 14.3% of revenues in 2015.  In 2019, this line item fell to 8.5% of revenues.  This indicates that the company has taken measures to reduce its overall costs as compared to revenues.  As revenue growth continues to slow, investors should expect this practice to continue.

Intel 2019 Income Statement

Column1 2019 2018 2017 2016 2015
Revenues                    71,965                    70,848                    62,761                    59,387                      55,355
COGS                    29,825                    27,111                    23,663                    23,154                      20,676
Gross Profit                    42,140                    43,737                    39,098                    36,233                      34,679
SG&A                      6,150                      6,750                      7,452                      8,377                        7,930
Depreciation                         200                         200                         177                         294                           265
R & D                    13,362                    13,543                    13,035                    12,685                      12,128
Other
Operating Expenses                    20,105                    20,421                    21,048                    23,100                      20,677
EBIT                    22,035                    23,316                    18,050                    13,133                      14,002
Other Income
Interest Expense                         484                        (126)                         349                         703                           105
EBT                    24,058                    23,317                    20,352                    12,936                      14,212
Taxes                      3,010                      2,264                    10,751                      2,620                        2,792
Net Income                   21,048                   21,053                     9,601                   10,316                    11,420
Tax Rate 12.5% 9.7% 52.8% 20.3% 19.6%

Section 2: Intel Balance Sheet Analyzed from 2015 to 2019

For Intel's balance sheet, I again go through each important line item from the balance sheet.  In reviewing each line item, I will define Intel's balance sheet line item, such as cash, property, plant and equipment, and liabilities between 2015 to 2019.  Next, I then offer a summary analysis of Intel’s important balance sheet line items.

Cash:  Intel’s cash position fell from $15.3 billion in 2015 to $4.2 billion in 2019.  This decrease in cash may indicate that the company is better using its short-term investment opportunities.  Because the cash level seems to be trending down on an annual basis, and the net income tends to be going up, this indicates that asset reallocation is probably a safe guess.

Short-term Investments:  The organization's short-term investments ended 2015 at $2.7 billion.  Over the next five years, the organization decreases its short-term investments to approximately $1 billion.  This indicates that the company is using its short-term investment reserves for either acquisition or for operations purposes.

Intel 2019 Summary Balance Sheet

Column1 2019 2018 2017 2016 2015
Cash                        4,194                    3,019                    3,433                    5,560                  15,308
Short Term Investment                        1,082                    2,788                    1,814                    3,225                    2,682
Account Receivable                        7,659                    6,722                    5,607                    4,690                    4,784
Inventory                        8,744                    7,253                    6,983                    5,553                    5,167
Other
Current Assets                    31,239                28,787                29,500                35,508                38,320
Net PPE                      55,386                  48,976                  41,109                  36,171                  31,858
Goodwill                      26,276                  24,513                  24,389                  14,099                  11,332
Other
Total Assets                  136,524              127,963              123,249              113,327              101,459
Accounts Payable                        4,128                    3,824                    2,928                    2,475                    2,063
Accrued Expense                        3,853                    3,622                    3,526                    3,465                    3,138
Accrued Taxes
Notes Payable                        3,693                    1,261                    1,776                    4,634                    2,634
LT Debt - Current
Other
Total Current Liabilities                      22,310                  16,626                  17,421                  20,302                  15,646
LT Debt                      25,308                  25,098                  25,037                  20,649                  20,036
Other
Total Liabilities                    59,020                53,400                54,230                47,101                40,374
Common Stock                      25,261                  25,365                  26,074                  25,373                  23,411
Treasury
Retained Earnings                      53,523                  50,172                  42,083                  40,747                  37,614
Other
Total Equity                    77,504                74,563                69,019                66,226                61,085
Total Equity & Liability                  136,524              127,963              123,249              113,327              101,459

Section 3: Intel Financial Ratios Analyzed from 2015 to 2019

For this section, I have chosen several different financial ratios to review for Intel from 2015 to 2019.  In reviewing each of Intel's financial ratios, I first start with defining the financial ratio.  Next, I supply the financial formula for calculating the specific ratio.  Finally, I offer a brief analysis of Intel’s Important Financial ratios. 

Intel Current Ratio

Intel’s current ratio fell from 2.4 in 2015 to 1.4 and 2019.  Also, this decline has been periodic over the last five years.  This shows that the company has taken steps to better utilize its cash.  A cautionary note, if their current ratio falls below 1.0, investors should become concerned about short-term liquidity.

Intel Fixed Asset Turnover

The fixed asset turnover for the firm ended 2015 at 1.74.  Over the next five years, the company’s ratio would steadily fall to 1.3.  This indicates that the company is using its fixed assets less optimally over time.  This problem falls square upon the shoulders of the executive and management team.  To mitigate this issue, the organization should take action to liquidate some fixed assets that are not being fully utilized.

Intel Return on Equity

Intel’s return on equity ended 2015 at 18.7%.  Over the next few years, this would grow to approximately 27.2%.  Their return on equity growth may be spurred by their increased use of debt.  Regardless, as long as their risk is not elevated too much, this is an excellent strategy.

Intel Debt Ratio

Intel’s debt ratio had fallen from 19.75% in 2015 to 18.5% in 2019.  In reviewing technology competitors, their debt ratio seems to be well below average.  A better strategy would be for the organization to take on debt to about a 30 to 40% ratio.  With these additional funds, the company may be able to acquire other companies, payout dividends, or initiate a stock buyback strategy.

Intel Liquidity Ratios 2019

Ratios 2019 2018 2017 2016 2015
Current Ratio                           1.40                    1.73
Cash Ratio                           0.19                    0.18
Quick Ratio                           1.01                    1.30
Net Working Capital                       12,616                  9,548

Intel Asset Utilization 2019

Ratios 2019 2018 2017 2016 2015
Total Asset Turnover                           0.53                    0.55
Fixed Asset Turnover                           1.30                    1.45
Days Sales Outstanding                         38.85                  34.63
Inventory Turnover                           8.23                    9.77
Accounts Receivable Turnover                           9.40                  10.54
Working Capital Turnover                           5.70                    7.42
AP Turnover                         17.43                  18.53
Average Days Inventory                           0.02                    0.03
Average Days Payable                           0.05                    0.05

Intel Profitability Ratios 2019

Ratios 2019 2018 2017 2016 2015
Return on Assets 15.42% 16.45%
Return on Equity 27.16% 28.24%
Net Profit Margin 29.25% 29.72%
Gross Profit Margin 58.56% 61.73%
Operating Profit Margin 30.62% 32.91%
Basic Earning Power 16.14% 18.22%
ROCE 19.29% 20.94%
Capital Employed                     114,214              111,337
ROIC 28.35% 35.97%
Market Measures
Price/Earning Ratio #DIV/0!
Earnings per common Share                              -                        -                        -                        -                        -
Dividend Payout
MVA
EVA

Intel Long-term Debt 2019

Ratios 2019 2018 2017 2016 2015
Debt Ratio 18.54% 19.61%
Debt/Equity 32.65% 33.66%
Times Interest Earned                         45.53              (185.05)