Debt to Equity
since 2005
Calculation
Intel Corp., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Total Intel stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 27, 2025 | 0.41 | = | 46,585) | ÷ | 114,281) |
| Dec 28, 2024 | 0.50 | = | 50,011) | ÷ | 99,270) |
| Dec 30, 2023 | 0.47 | = | 49,266) | ÷ | 105,590) |
| Dec 31, 2022 | 0.41 | = | 42,051) | ÷ | 101,423) |
| Dec 25, 2021 | 0.40 | = | 38,101) | ÷ | 95,391) |
| Dec 26, 2020 | 0.45 | = | 36,401) | ÷ | 81,038) |
| Dec 28, 2019 | 0.37 | = | 29,001) | ÷ | 77,504) |
| Dec 29, 2018 | 0.35 | = | 26,359) | ÷ | 74,563) |
| Dec 30, 2017 | 0.39 | = | 26,813) | ÷ | 69,019) |
| Dec 31, 2016 | 0.38 | = | 25,283) | ÷ | 66,226) |
| Dec 26, 2015 | 0.37 | = | 22,670) | ÷ | 61,085) |
| Dec 27, 2014 | 0.25 | = | 13,711) | ÷ | 55,865) |
| Dec 28, 2013 | 0.23 | = | 13,446) | ÷ | 58,256) |
| Dec 29, 2012 | 0.26 | = | 13,448) | ÷ | 51,203) |
| Dec 31, 2011 | 0.16 | = | 7,331) | ÷ | 45,911) |
| Dec 25, 2010 | 0.04 | = | 2,115) | ÷ | 49,430) |
| Dec 26, 2009 | 0.05 | = | 2,221) | ÷ | 41,704) |
| Dec 27, 2008 | 0.05 | = | 1,988) | ÷ | 39,088) |
| Dec 29, 2007 | 0.05 | = | 2,122) | ÷ | 42,762) |
| Dec 30, 2006 | 0.06 | = | 2,028) | ÷ | 36,752) |
| Dec 31, 2005 | 0.07 | = | 2,419) | ÷ | 36,182) |
Based on: 10-K (reporting date: 2025-12-27), 10-K (reporting date: 2024-12-28), 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), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The debt to equity ratio for the period examined demonstrates a generally low level of financial leverage initially, followed by a significant increase beginning in 2011. Throughout much of the analyzed timeframe, the ratio remained relatively stable, but recent years show a marked upward trend.
- Initial Period (2005-2010)
- From 2005 to 2010, the debt to equity ratio exhibited a consistent decline, starting at 0.07 and reaching a low of 0.04 in 2010. This indicates a period where equity growth outpaced debt accumulation, suggesting increasing financial strength and a conservative capital structure. Total debt remained relatively stable during this period, while stockholders’ equity generally increased.
- Significant Increase (2011-2016)
- Beginning in 2011, the debt to equity ratio experienced a substantial increase, rising from 0.16 to 0.38 by 2016. This surge was primarily driven by a significant increase in total debt, particularly noticeable from 2014 onwards, while equity growth was more moderate. This suggests a shift towards greater reliance on debt financing during this period.
- Continued Leverage (2017-2023)
- The ratio continued to fluctuate between 0.35 and 0.47 from 2017 through 2023. Total debt continued to rise, reaching a peak of 49.266 US$ in millions in 2022, while equity also increased, but at a slower rate. This indicates a sustained, though somewhat moderated, increase in financial leverage. The ratio reached its highest point of 0.50 in 2023.
- Recent Trend (2024-2025)
- The most recent two years show a slight decrease in the debt to equity ratio, falling to 0.41 in 2025. This is attributable to a decrease in total debt, while equity remains relatively high. However, the ratio remains significantly higher than levels observed prior to 2011, indicating a fundamentally different capital structure.
Overall, the trend indicates a transition from a financially conservative position with low leverage to a more leveraged capital structure, particularly over the last decade. While the most recent period shows a slight reduction in leverage, the ratio remains elevated compared to historical levels.
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Comparison to Competitors
Intel Corp., debt to equity, long-term trends, comparison to competitors
| Intel Corp. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | KLA Corp. | Lam Research Corp. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 27, 2025 | 0.41 | 0.05 | 0.25 | 0.32 | 0.80 | 1.25 | 0.45 | 0.27 | 0.11 | 0.70 | 0.86 |
| Dec 28, 2024 | 0.50 | 0.03 | 0.22 | 0.33 | 1.00 | 1.97 | 0.58 | 0.30 | 0.23 | 0.56 | 0.80 |
| Dec 30, 2023 | 0.47 | 0.04 | 0.20 | 0.34 | 1.64 | 2.02 | 0.61 | 0.30 | 0.50 | 0.71 | 0.66 |
| Dec 31, 2022 | 0.41 | 0.05 | 0.18 | 0.45 | 1.74 | 4.75 | 0.80 | 0.14 | 0.41 | 0.86 | 0.60 |
| Dec 25, 2021 | 0.40 | 0.04 | 0.18 | 0.45 | 1.59 | 1.02 | 0.83 | 0.15 | 0.41 | 1.58 | 0.58 |
| Dec 26, 2020 | 0.45 | 0.06 | 0.43 | 0.52 | 1.72 | 1.30 | 1.12 | 0.17 | 0.16 | 2.59 | 0.74 |
| Dec 28, 2019 | 0.37 | 0.17 | 0.47 | 0.65 | 1.32 | 1.29 | 0.96 | 0.16 | 0.21 | 3.25 | 0.65 |
| Dec 29, 2018 | 0.35 | 0.99 | 0.58 | 0.78 | 0.66 | 1.38 | 0.37 | 0.14 | 0.27 | 17.64 | 0.56 |
| Dec 30, 2017 | 0.39 | 2.28 | 0.77 | 0.57 | 0.87 | 2.21 | 0.40 | 0.60 | 0.48 | 0.71 | 0.39 |
| Dec 31, 2016 | 0.38 | 3.45 | 0.34 | 0.46 | 0.72 | 4.44 | 0.74 | 0.82 | 0.32 | 0.37 | 0.34 |
| Dec 26, 2015 | 0.37 | — | 0.17 | 0.60 | 0.84 | 7.57 | 0.46 | 0.60 | 0.32 | 0.35 | 0.41 |
| Dec 27, 2014 | 0.25 | 11.83 | 0.18 | 0.25 | 1.70 | 0.20 | 0.27 | 0.61 | 0.31 | 0.00 | 0.45 |
| Dec 28, 2013 | 0.23 | 3.78 | 0.18 | 0.27 | 0.00 | 0.21 | 0.29 | 0.66 | 0.00 | 0.00 | 0.48 |
| Dec 29, 2012 | 0.26 | 3.80 | 0.20 | 0.27 | 0.00 | 0.23 | 0.25 | 0.42 | 0.01 | 0.00 | 0.52 |
| Dec 31, 2011 | 0.16 | 1.27 | 0.23 | 0.22 | 0.00 | 0.26 | 0.30 | 0.24 | 0.01 | 0.04 | 0.51 |
| Dec 25, 2010 | 0.04 | 2.39 | 0.13 | 0.03 | 0.15 | 0.33 | 0.01 | 0.29 | 0.01 | 0.05 | 0.00 |
| Dec 26, 2009 | 0.05 | 7.30 | 0.00 | 0.03 | 0.57 | 0.34 | 0.03 | 0.67 | 0.01 | 0.00 | 0.00 |
| Dec 27, 2008 | 0.05 | — | 0.00 | 0.03 | — | 0.25 | 0.17 | 0.44 | 0.00 | 0.00 | 0.00 |
| Dec 29, 2007 | 0.05 | 1.76 | 0.00 | 0.03 | — | 0.00 | 0.21 | 0.31 | 0.00 | 0.00 | 0.00 |
| Dec 30, 2006 | 0.06 | 0.66 | 0.00 | 0.06 | — | 0.00 | 0.25 | 0.07 | 0.00 | 0.00 | 0.00 |
| Dec 31, 2005 | 0.07 | 0.41 | 0.00 | 0.05 | — | 0.00 | 0.00 | 0.20 | 0.00 | 0.00 | 0.06 |
Based on: 10-K (reporting date: 2025-12-27), 10-K (reporting date: 2024-12-28), 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), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
Intel Corp., debt to equity, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Intel Corp. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Dec 27, 2025 | 0.41 | 0.39 |
| Dec 28, 2024 | 0.50 | 0.46 |
| Dec 30, 2023 | 0.47 | 0.47 |
| Dec 31, 2022 | 0.41 | 0.43 |
| Dec 25, 2021 | 0.40 | 0.50 |
| Dec 26, 2020 | 0.45 | 0.62 |
| Dec 28, 2019 | 0.37 | 0.58 |
| Dec 29, 2018 | 0.35 | 0.50 |
| Dec 30, 2017 | 0.39 | 0.57 |
| Dec 31, 2016 | 0.38 | 0.49 |
| Dec 26, 2015 | 0.37 | 0.45 |
| Dec 27, 2014 | 0.25 | 0.27 |
| Dec 28, 2013 | 0.23 | 0.22 |
| Dec 29, 2012 | 0.26 | 0.22 |
| Dec 31, 2011 | 0.16 | 0.19 |
| Dec 25, 2010 | 0.04 | 0.09 |
| Dec 26, 2009 | 0.05 | 0.12 |
| Dec 27, 2008 | 0.05 | 0.12 |
| Dec 29, 2007 | 0.05 | 0.11 |
| Dec 30, 2006 | 0.06 | 0.08 |
| Dec 31, 2005 | 0.07 | 0.07 |
Based on: 10-K (reporting date: 2025-12-27), 10-K (reporting date: 2024-12-28), 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), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Information Technology)
Intel Corp., debt to equity, long-term trends, comparison to industry (information technology)
| Intel Corp. | Information Technology | |
|---|---|---|
| Dec 27, 2025 | 0.41 | 0.52 |
| Dec 28, 2024 | 0.50 | 0.62 |
| Dec 30, 2023 | 0.47 | 0.66 |
| Dec 31, 2022 | 0.41 | 0.70 |
| Dec 25, 2021 | 0.40 | 0.83 |
| Dec 26, 2020 | 0.45 | 0.96 |
| Dec 28, 2019 | 0.37 | 0.98 |
| Dec 29, 2018 | 0.35 | 0.83 |
| Dec 30, 2017 | 0.39 | 0.81 |
| Dec 31, 2016 | 0.38 | 0.66 |
| Dec 26, 2015 | 0.37 | 0.56 |
| Dec 27, 2014 | 0.25 | 0.39 |
| Dec 28, 2013 | 0.23 | 0.29 |
| Dec 29, 2012 | 0.26 | 0.25 |
| Dec 31, 2011 | 0.16 | 0.27 |
| Dec 25, 2010 | 0.04 | 0.25 |
| Dec 26, 2009 | 0.05 | 0.26 |
| Dec 27, 2008 | 0.05 | 0.28 |
| Dec 29, 2007 | 0.05 | 0.26 |
| Dec 30, 2006 | 0.06 | 0.19 |
| Dec 31, 2005 | 0.07 | 0.15 |
Based on: 10-K (reporting date: 2025-12-27), 10-K (reporting date: 2024-12-28), 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), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).