Stock Analysis on Net

Intel Corp. (NASDAQ:INTC)

Common Stock Valuation Ratios (Price Multiples)

Microsoft Excel

Current Valuation Ratios

Intel Corp., current price multiples

Microsoft Excel
Intel Corp. Advanced Micro Devices Inc. Analog Devices Inc. Applied Materials Inc. Broadcom Inc. KLA Corp. Lam Research Corp. Micron Technology Inc. NVIDIA Corp. ON Semiconductor Corp. Qualcomm Inc. Texas Instruments Inc. Semiconductors & Semiconductor Equipment Information Technology
Selected Financial Data
Current share price (P) $44.17
No. shares of common stock outstanding 4,228,000,000
Growth rate (g) 4.81%
 
Earnings per share (EPS) $0.40
Next year expected EPS $0.42
Operating profit per share $0.02
Sales per share $12.83
Book value per share (BVPS) $24.97
Valuation Ratios (Price Multiples)
Price to earnings (P/E) 110.57 341.49 29.59 24.99 43.62 27.89 28.24 75.90 14.39 26.13 24.33 88.54 45.68
Price to next year expected earnings 105.49 295.66 28.49 18.50 43.20 19.31 20.02 57.05 11.95 18.61 19.57 77.78 36.29
Price-earnings-growth (PEG) 22.99 22.03 7.66 0.71 44.95 0.63 0.69 2.30 0.70 0.65 1.00 6.40 1.77
Price to operating profit (P/OP) 2,008.07 727.27 25.66 22.39 37.90 23.65 24.61 68.51 12.38 24.26 21.61 81.37 38.41
Price to sales (P/S) 3.44 12.86 7.97 6.46 17.15 9.00 7.31 8.40 37.08 3.81 5.27 9.04 15.35 10.11
Price to book value (P/BV) 1.77 5.22 2.76 10.48 25.61 32.36 15.51 2.96 52.56 4.04 8.75 9.37 12.06 14.58

Based on: 10-K (reporting date: 2023-12-30).

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.


Historical Valuation Ratios (Summary)

Intel Corp., historical price multiples

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Price to earnings (P/E) 109.27 14.54 9.85 11.02 13.91
Price to operating profit (P/OP) 1,984.43 49.91 10.06 9.72 13.29
Price to sales (P/S) 3.40 1.85 2.48 2.96 4.07
Price to book value (P/BV) 1.75 1.15 2.05 2.84 3.78

Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26), 10-K (reporting date: 2019-12-28).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Intel Corp. P/E ratio increased from 2021 to 2022 and from 2022 to 2023.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Intel Corp. P/OP ratio increased from 2021 to 2022 and from 2022 to 2023.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Intel Corp. P/S ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Intel Corp. P/BV ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Price to Earnings (P/E)

Intel Corp., historical P/E calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
No. shares of common stock outstanding1 4,228,000,000 4,137,000,000 4,072,000,000 4,063,000,000 4,277,000,000
Selected Financial Data (US$)
Net income attributable to Intel (in millions) 1,689 8,014 19,868 20,899 21,048
Earnings per share (EPS)2 0.40 1.94 4.88 5.14 4.92
Share price1, 3 43.65 28.16 48.05 56.66 68.47
Valuation Ratio
P/E ratio4 109.27 14.54 9.85 11.02 13.91
Benchmarks
P/E Ratio, Competitors5
Advanced Micro Devices Inc. 317.27 96.16 45.54 41.66 169.62
Analog Devices Inc. 27.14 31.21 68.31 41.43 31.04
Applied Materials Inc. 19.63 13.55 22.05 22.31 20.25
Broadcom Inc. 36.78 20.70 40.73 66.37 47.09
KLA Corp. 20.04 16.89 25.97 25.92 18.44
Lam Research Corp. 19.27 13.77 21.03 24.22 13.64
Micron Technology Inc. 6.62 13.38 21.80 7.98
NVIDIA Corp. 131.68 68.09 78.52 67.57 22.79
ON Semiconductor Corp. 15.18 18.26 25.13 73.60 40.58
Qualcomm Inc. 17.07 9.75 17.15 28.06 22.03
Texas Instruments Inc. 22.24 18.88 20.38 27.95 24.47
P/E Ratio, Sector
Semiconductors & Semiconductor Equipment 46.92 22.77 24.31 25.46 19.37
P/E Ratio, Industry
Information Technology 35.25 26.57 28.96 30.85 22.48

Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26), 10-K (reporting date: 2019-12-28).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
EPS = Net income attributable to Intel ÷ No. shares of common stock outstanding
= 1,689,000,000 ÷ 4,228,000,000 = 0.40

3 Closing price as at the filing date of Intel Corp. Annual Report.

4 2023 Calculation
P/E ratio = Share price ÷ EPS
= 43.65 ÷ 0.40 = 109.27

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Intel Corp. P/E ratio increased from 2021 to 2022 and from 2022 to 2023.

Price to Operating Profit (P/OP)

Intel Corp., historical P/OP calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
No. shares of common stock outstanding1 4,228,000,000 4,137,000,000 4,072,000,000 4,063,000,000 4,277,000,000
Selected Financial Data (US$)
Operating income (in millions) 93 2,334 19,456 23,678 22,035
Operating profit per share2 0.02 0.56 4.78 5.83 5.15
Share price1, 3 43.65 28.16 48.05 56.66 68.47
Valuation Ratio
P/OP ratio4 1,984.43 49.91 10.06 9.72 13.29
Benchmarks
P/OP Ratio, Competitors5
Advanced Micro Devices Inc. 675.69 100.42 39.48 75.77 91.66
Analog Devices Inc. 23.53 26.16 56.12 33.76 24.74
Applied Materials Inc. 17.58 11.35 18.85 18.50 16.36
Broadcom Inc. 31.96 16.33 30.77 44.03 36.85
KLA Corp. 16.99 15.36 21.69 20.99 15.60
Lam Research Corp. 16.79 11.79 18.34 20.40 12.12
Micron Technology Inc. 5.93 12.48 19.51 6.83
NVIDIA Corp. 136.17 66.13 75.05 66.39 24.81
ON Semiconductor Corp. 13.06 14.72 19.70 49.43 19.86
Qualcomm Inc. 15.85 7.95 15.84 23.32 12.60
Texas Instruments Inc. 19.75 16.29 17.67 26.53 21.46
P/OP Ratio, Sector
Semiconductors & Semiconductor Equipment 43.12 21.12 22.05 22.54 16.64
P/OP Ratio, Industry
Information Technology 29.65 22.44 25.70 26.39 19.60

Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26), 10-K (reporting date: 2019-12-28).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= 93,000,000 ÷ 4,228,000,000 = 0.02

3 Closing price as at the filing date of Intel Corp. Annual Report.

4 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 43.65 ÷ 0.02 = 1,984.43

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Intel Corp. P/OP ratio increased from 2021 to 2022 and from 2022 to 2023.

Price to Sales (P/S)

Intel Corp., historical P/S calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
No. shares of common stock outstanding1 4,228,000,000 4,137,000,000 4,072,000,000 4,063,000,000 4,277,000,000
Selected Financial Data (US$)
Net revenue (in millions) 54,228 63,054 79,024 77,867 71,965
Sales per share2 12.83 15.24 19.41 19.16 16.83
Share price1, 3 43.65 28.16 48.05 56.66 68.47
Valuation Ratio
P/S ratio4 3.40 1.85 2.48 2.96 4.07
Benchmarks
P/S Ratio, Competitors5
Advanced Micro Devices Inc. 11.95 5.38 8.76 10.63 8.59
Analog Devices Inc. 7.31 7.14 12.98 9.03 7.06
Applied Materials Inc. 5.08 3.43 5.63 4.69 3.75
Broadcom Inc. 14.46 7.00 9.55 7.40 5.62
KLA Corp. 6.47 6.09 7.80 5.43 4.74
Lam Research Corp. 4.99 3.68 5.62 5.43 3.10
Micron Technology Inc. 4.94 1.87 2.83 2.73 2.15
NVIDIA Corp. 21.32 24.67 20.40 17.31 8.06
ON Semiconductor Corp. 4.02 4.17 3.76 3.28 1.56
Qualcomm Inc. 3.45 2.85 4.62 6.20 3.98
Texas Instruments Inc. 8.26 8.25 8.63 10.81 8.54
P/S Ratio, Sector
Semiconductors & Semiconductor Equipment 8.13 5.78 6.19 5.74 4.64
P/S Ratio, Industry
Information Technology 7.80 6.39 7.39 6.58 4.98

Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26), 10-K (reporting date: 2019-12-28).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
Sales per share = Net revenue ÷ No. shares of common stock outstanding
= 54,228,000,000 ÷ 4,228,000,000 = 12.83

3 Closing price as at the filing date of Intel Corp. Annual Report.

4 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 43.65 ÷ 12.83 = 3.40

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Intel Corp. P/S ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Price to Book Value (P/BV)

Intel Corp., historical P/BV calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
No. shares of common stock outstanding1 4,228,000,000 4,137,000,000 4,072,000,000 4,063,000,000 4,277,000,000
Selected Financial Data (US$)
Total Intel stockholders’ equity (in millions) 105,590 101,423 95,391 81,038 77,504
Book value per share (BVPS)2 24.97 24.52 23.43 19.95 18.12
Share price1, 3 43.65 28.16 48.05 56.66 68.47
Valuation Ratio
P/BV ratio4 1.75 1.15 2.05 2.84 3.78
Benchmarks
P/BV Ratio, Competitors5
Advanced Micro Devices Inc. 4.85 2.32 19.21 17.77 20.46
Analog Devices Inc. 2.53 2.35 2.50 4.22 3.61
Applied Materials Inc. 8.23 7.25 10.60 7.63 6.67
Broadcom Inc. 21.59 10.23 10.50 7.40 5.09
KLA Corp. 23.25 40.05 15.98 11.83 8.15
Lam Research Corp. 10.59 10.10 13.64 10.55 6.39
Micron Technology Inc. 1.74 1.15 1.79 1.50 1.40
NVIDIA Corp. 26.02 24.95 20.13 15.48 10.10
ON Semiconductor Corp. 4.26 5.61 5.53 4.87 2.60
Qualcomm Inc. 5.72 7.00 15.59 24.00 19.69
Texas Instruments Inc. 8.57 11.33 11.87 17.02 13.79
P/BV Ratio, Sector
Semiconductors & Semiconductor Equipment 6.39 5.18 6.23 6.13 5.13
P/BV Ratio, Industry
Information Technology 11.26 10.27 12.31 10.87 8.24

Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26), 10-K (reporting date: 2019-12-28).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
BVPS = Total Intel stockholders’ equity ÷ No. shares of common stock outstanding
= 105,590,000,000 ÷ 4,228,000,000 = 24.97

3 Closing price as at the filing date of Intel Corp. Annual Report.

4 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 43.65 ÷ 24.97 = 1.75

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Intel Corp. P/BV ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.