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Intel Corp. (NASDAQ:INTC)

Common-Size Balance Sheet: Assets
Quarterly Data

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

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Jun 27, 2026 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 6.36 8.40 6.75 5.45 5.01 4.65 4.20 4.54 5.47 3.59 3.70 4.04 4.50 4.44 6.12 2.59 2.58 3.52 2.87 4.69 3.07 3.45
Short-term investments 8.32 7.57 10.95 9.68 6.01 6.29 7.03 7.91 8.72 7.47 9.37 9.22 8.57 10.42 9.44 10.31 13.29 18.42 14.01 15.94 13.01 11.42
Accounts receivable, net 1.99 1.98 1.82 1.57 1.23 1.59 1.77 1.61 1.52 1.72 1.78 1.51 1.61 2.08 2.27 4.27 3.56 4.01 5.62 5.00 4.83 4.79
Inventories 6.17 6.05 5.49 5.62 5.91 6.39 6.21 6.23 5.45 5.96 5.81 6.07 6.46 7.01 7.26 7.34 7.14 6.77 6.40 5.83 5.70 5.63
Other current assets 5.41 6.27 5.12 2.99 4.38 2.99 4.88 3.55 3.48 3.36 1.93 2.37 2.22 2.13 2.59 3.66 3.11 2.76 5.39 5.04 5.33 5.10
Current assets 28.26% 30.27% 30.12% 25.29% 22.53% 21.92% 24.09% 23.84% 24.65% 22.11% 22.59% 23.20% 23.36% 26.07% 27.68% 28.18% 29.68% 35.48% 34.27% 36.50% 31.94% 30.39%
Property, plant, and equipment, net of accumulated depreciation 52.23 50.87 49.86 51.36 56.88 57.10 54.92 53.86 50.14 51.85 50.45 49.44 48.99 46.27 44.40 43.33 42.05 37.83 37.56 35.56 37.62 38.06
Equity investments 4.15 4.13 4.03 4.24 2.80 2.61 2.74 2.84 2.82 3.19 3.04 3.02 3.17 3.25 3.25 3.33 3.48 3.42 3.74 3.60 3.66 3.59
Other long-term investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.50 0.57 0.82 0.94
Goodwill 10.11 9.97 11.31 11.69 12.42 12.84 12.57 12.75 13.31 14.24 14.40 14.61 14.86 14.89 15.15 15.78 16.19 15.32 16.01 15.95 17.31 17.91
Identified intangible assets, net 1.26 1.33 1.31 1.41 1.59 1.86 1.88 2.05 2.13 2.43 2.40 2.63 2.79 3.00 3.30 3.58 3.77 3.86 4.32 4.57 5.19 5.58
Other long-term assets 3.98 3.43 3.37 6.00 3.78 3.67 3.80 4.65 6.95 6.20 7.12 7.10 6.83 6.51 6.21 5.80 4.83 4.09 3.61 3.25 3.46 3.54
Long-term assets 71.74% 69.73% 69.88% 74.71% 77.47% 78.08% 75.91% 76.16% 75.35% 77.89% 77.41% 76.80% 76.64% 73.93% 72.32% 71.82% 70.32% 64.52% 65.73% 63.50% 68.06% 69.61%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-06-27), 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).

The asset composition reflects a strategic transition toward a more capital-intensive operating model, characterized by a significant shift from liquid current assets to long-term fixed assets. Total current assets, which stood at 30.39% in March 2021, experienced a gradual decline to a low of 21.92% by March 2025, before recovering to 28.26% by June 2026. Conversely, long-term assets grew from 69.61% to a peak of 78.08% in March 2025, indicating a sustained period of heavy investment in infrastructure.

Fixed Asset Expansion
The most prominent trend is the substantial increase in Property, Plant, and Equipment (PP&E). PP&E rose from 38.06% of total assets in March 2021 to a peak of 57.10% in March 2025. Although a slight correction occurred thereafter, the ratio remained elevated at 52.23% by June 2026. This suggests a massive allocation of capital toward manufacturing capacity and physical infrastructure.
Liquidity and Short-Term Investment Trends
Short-term investments showed significant volatility, peaking at 18.42% in April 2022 before trending downward to 6.01% by June 2025. Cash and cash equivalents remained relatively low for much of the period but exhibited a notable upward trend toward the end of the sequence, rising to 8.40% in December 2025 before settling at 6.36% in June 2026. This indicates a shift in how liquid reserves are managed, moving from investment vehicles back toward immediate cash availability.
Working Capital Components
Accounts receivable, net, demonstrated a consistent downward trend, falling from 4.79% in March 2021 to approximately 1.99% by June 2026, suggesting improved collection efficiency or a change in revenue recognition patterns relative to total asset growth. Inventories remained relatively stable, fluctuating within a narrow band between 5.45% and 7.34%, indicating a consistent inventory-to-asset ratio despite the overall growth in the balance sheet.
Intangible Asset Amortization and Impairment
A steady erosion of intangible assets is observed. Goodwill declined from 17.91% in March 2021 to 10.11% by June 2026. Similarly, identified intangible assets, net, dropped from 5.58% to 1.26% over the same period. This consistent decline reflects the natural amortization of acquired intangibles and potentially the impairment of previous acquisitions as the asset base shifts toward tangible production assets.

Overall, the balance sheet has evolved from a more diversified asset mix into one heavily weighted toward production capacity. The reduction in the weight of goodwill and short-term investments, coupled with the expansion of PP&E, underscores a pivot toward internal industrial growth and capital expenditure.

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