Common-Size Balance Sheet: Assets
Quarterly Data
Intel Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-09-26), 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 structure of the organization has undergone a significant transformation over the analyzed period, characterized by a strategic shift toward capital-intensive investments followed by a recent increase in liquidity. A primary trend is the reallocation of resources from intangible assets and current assets toward long-term physical infrastructure, with a subsequent rebalancing toward liquid assets in the final quarters of the sequence.
- Fixed Asset Expansion and Capital Intensity
- Property, plant, and equipment (PP&E) exhibited a strong upward trajectory, increasing from 38.06% of total assets in March 2021 to a peak of 57.10% in March 2025. This expansion indicates a period of aggressive capital expenditure and investment in physical production capacity. While this percentage declined to 46.07% by September 2026, the asset base remains substantially more centered on fixed infrastructure than at the start of the period.
- Liquidity and Short-Term Investment Trends
- Liquidity levels showed significant volatility. Combined cash and short-term investments fluctuated throughout the period but reached a notable high by September 2026, with cash and cash equivalents rising to 9.56% and short-term investments reaching 14.07%. This suggests a strategic accumulation of liquid reserves toward the end of the timeframe, contrasting with the leaner liquidity positions observed between 2022 and 2024.
- Erosion of Intangible Assets
- A consistent downward trend is observed in both goodwill and identified intangible assets. Goodwill declined from 17.91% in March 2021 to 8.95% by September 2026. Similarly, identified intangible assets decreased from 5.58% to 1.07% over the same period. This steady reduction suggests either significant impairment charges or a natural amortization of acquired assets that was not offset by new acquisitions.
- Working Capital Dynamics
- Accounts receivable, net, demonstrated a marked decrease as a percentage of total assets, falling from 4.79% in early 2021 to 1.79% by late 2026. This suggests improved efficiency in collections or a shift in the revenue composition. Inventories remained relatively stable, generally fluctuating between 5.4% and 7.3%, indicating a consistent approach to inventory management relative to the overall size of the balance sheet.
- Overall Asset Composition Shift
- Total current assets transitioned from 30.39% in March 2021 to a low point around 22% in early 2024, before surging to 36.13% by September 2026. Conversely, long-term assets peaked at 78.08% in March 2025 before contracting to 63.87% by September 2026. The data reflects a cycle of heavy industrial investment followed by a pivot back toward a more liquid asset posture.
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