Stock Analysis on Net

Intel Corp. (NASDAQ:INTC)

$24.99

Common-Size Balance Sheet: Assets
Quarterly Data

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Intel Corp., common-size consolidated balance sheet: assets (quarterly data)

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Mar 28, 2026 Dec 27, 2025 Sep 27, 2025 Jun 28, 2025 Mar 29, 2025 Dec 28, 2024 Sep 28, 2024 Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 25, 2021 Sep 25, 2021 Jun 26, 2021 Mar 27, 2021
Cash and cash equivalents
Short-term investments
Accounts receivable, net
Inventories
Other current assets
Current assets
Property, plant, and equipment, net of accumulated depreciation
Equity investments
Other long-term investments
Goodwill
Identified intangible assets, net
Other long-term assets
Long-term assets
Total assets

Based on: 10-Q (reporting date: 2026-03-28), 10-K (reporting date: 2025-12-27), 10-Q (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-K (reporting date: 2024-12-28), 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-25), 10-Q (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27).


A structural shift in asset composition is evident over the analyzed period, characterized by a significant transition from liquid and intangible assets toward fixed capital investments. The overall balance sheet reflects an increasing commitment to long-term infrastructure, as the proportion of long-term assets generally rose from approximately 69.6% in early 2021 to a peak of 78.1% by March 2025, before stabilizing near 69.7% by March 2026.

Fixed Asset Expansion
Property, plant, and equipment (PP&E) experienced the most substantial growth, increasing from 38.06% of total assets in March 2021 to a peak of 57.10% in March 2025. This sustained upward trend indicates a period of intensive capital expenditure and an aggressive expansion of physical production capacity.
Liquidity and Short-Term Investment Trends
Current assets as a percentage of total assets exhibited a general downward trajectory, declining from 30.39% in early 2021 to a low of 21.92% in March 2025. This was primarily driven by a reduction in short-term investments, which fell from a peak of 18.42% in April 2022 to 7.57% by March 2026. Conversely, cash and cash equivalents showed a late-period increase, rising from a low of 2.58% in July 2022 to a peak of 8.40% in December 2025.
Intangible Asset Attrition
A consistent decline is observed in the proportion of "soft" assets. Goodwill decreased from 17.91% in March 2021 to 9.97% by March 2026. Similarly, identified intangible assets fell from 5.58% to 1.33% over the same period. This contraction suggests either asset impairment, amortization, or the dilution of these items as the total asset base expanded through physical investments.
Working Capital Dynamics
Accounts receivable, net, showed a marked decrease, falling from 4.79% in March 2021 to fluctuate between 1.23% and 1.98% in the later years, suggesting a shift in credit terms or improved collection efficiency relative to total asset growth. Inventories remained relatively stable, generally oscillating between 5.4% and 7.3% of total assets throughout the entire period.

The combined data indicates a strategic pivot toward a more capital-intensive operational model. The reallocation of resources—moving away from short-term investments and intangible assets toward property, plant, and equipment—suggests a focus on enhancing internal manufacturing capabilities and long-term infrastructure development.