Intel Corp. (NASDAQ:INTC)

The analysis of the quarterly financial data reveals several notable trends in the composition of assets over time.

Cash and Cash Equivalents

The proportion of cash and cash equivalents to total assets generally fluctuates between approximately 2.3% and 7.7%. After an initial decline from 7.7% in March 2020 to around 2.3%-3.8% in late 2020, the ratio increased notably toward the end of 2022, reaching around 6.12%, before showing some variation with a slight upward trend into mid-2025, stabilizing mostly around 4% to 5%.

Short-term Investments

This category experienced significant variation, increasing sharply from 6.38% in early 2020 to a peak near 18.42% by April 2022. Following this peak, there is a general downward trend, with values decreasing to around 6% by mid-2025. This suggests a temporary accumulation of short-term investments followed by gradual reduction.

Accounts Receivable, Net

Accounts receivable as a percentage of total assets generally declined over the period. Starting above 5.7% in early 2020, the ratio fell steadily, reaching as low as approximately 1.2% by late 2024 and mid-2025. This consistent decrease indicates a tightening or more efficient management of receivables relative to asset size.

Inventories

The inventory proportion shows moderate fluctuations within a range of approximately 5.5% to 7.3%. There is a mild increasing trend up to late 2022, followed by a downward adjustment to near 5.9% by mid-2025, implying relatively stable inventory levels in relation to total assets with some recent moderation.

Other Current Assets

This category varies considerably, rising sharply around the end of 2020 and early 2021 to over 5%, then declining again and exhibiting periodic fluctuations through 2025, generally moving between 2% and 4.9%. The variability indicates changes in less standard current asset components.

Current Assets (Aggregate)

The total current assets percentage shows volatility but tends to trend downward over the full period: from roughly 28%-30% in early 2020, peaking near 36.5% by late 2021, then steadily declining to about 22% by mid-2025. This suggests a gradual rebalancing toward long-term assets.

Property, Plant, and Equipment (PP&E), Net

This asset class has demonstrated a consistent upward trend. Beginning at about 38.4% in early 2020, PP&E increased steadily to surpass 56% by mid-2025. This growth represents significant capital investment or asset retention in physical infrastructure over time.

Equity Investments

Equity investments as a percentage of total assets remain relatively stable but show a slight downward tendency from around 2.6%-3.7% in early periods to closer to 2.6%-2.8% by mid-2025.

Other Long-term Investments

Reported values decline from near 2% in early 2020 to approximately half a percent by late 2021, with data unavailable thereafter. This suggests divestment or reclassification of these investments.

Goodwill

Goodwill shows a steady decline over time, decreasing from approximately 17.8% in early 2020 to about 12.4% by mid-2025. This may indicate impairment charges, disposals, or a shift in asset composition away from intangible goodwill.

Identified Intangible Assets, Net

A continuous downward trend is also observed here, from about 7.1% initially to approximately 1.6% in mid-2025, signaling amortization of intangible assets or reduced acquisitions.

Other Long-term Assets

These fluctuate moderately but exhibit an overall increase from around 4% in early 2020 to a peak exceeding 7% by late 2023, followed by some volatility, settling near 3.7%-4% by mid-2025.

Long-term Assets (Aggregate)

The aggregate long-term assets percentage remains dominant and relatively stable, fluctuating around 70%, exhibiting a slight increase over time, especially notable after 2020, reaching as high as 78.1% by early 2025 and remaining near 77.5% thereafter. This reflects a strategic emphasis on long-term asset holdings.

Total Assets

By definition, the total assets equal 100% consistently, serving as the baseline for all relative proportions.

In summary, the asset structure shifts reveal a marked increase in capital assets (PP&E), accompanied by a decline in intangible assets and goodwill. The company appears to have reduced short-term investments after a high period, tightened accounts receivable, and rebalanced current versus long-term assets toward the latter. The management of cash equivalents and other current assets shows moderate variability, while overall asset allocation underscores a strategic focus on physical and long-term asset investments through the observed periods.