Intel Corp. (NASDAQ:INTC)

The analysis of the quarterly financial ratios reveals notable trends in the efficiency of asset and equity utilization over the observed period.

Net Fixed Asset Turnover

This ratio demonstrates a clear, consistent declining trend from 1.36 in the first quarter of 2021 to a low of 0.48 in mid-2025, with a slight uptick to 0.51 at the end of the period. The decreasing ratio suggests a reduced ability to generate sales from net fixed assets, indicating either increased investment in fixed assets not yet translating into proportional revenue growth or diminishing sales efficiency relative to fixed assets.

Total Asset Turnover

The total asset turnover ratio also trends downward, starting at 0.52 in early 2021 and gradually decreasing to 0.26 by the third quarter of 2025. There are minor fluctuations towards the later periods, but the general pattern reflects declining efficiency in using total assets to generate revenues. This may point to an accumulation of assets without a corresponding increase in sales volume.

Equity Turnover

Equity turnover shows a decreasing pattern from 0.97 in early 2021 to around 0.50 by the end of the analysis period in 2025. Notably, after a steady decline, there is slight variability in later quarters, with a moderate recovery observed in the third quarter of 2024 before declining again. This ratio's decline indicates a reduction in revenue generated per unit of shareholders' equity, which could be related to both changes in profit generation and equity base adjustments.

Overall, the company exhibits a consistent downward trend across all turnover ratios, indicating a general decline in asset and equity utilization efficiency over the reported period. This situation may warrant closer examination of asset investment strategies, operational efficiency, and capital structure management to improve revenue generation from deployed resources.

The financial data exhibits several notable trends across the presented periods.

Net Revenue

Net revenue shows a declining trend from the beginning through to the early 2023 quarters, dropping from around $19,673 million to approximately $11,715 million. This decrease continues moderately, with slight fluctuations, reaching approximately $13,653 million by the end of the latest period. There are some intermittent recoveries, such as the increases in the mid-2023 quarters, but the overall movement reflects a downward trajectory in net revenue over the examined timeframe.

Property, Plant, and Equipment, Net of Accumulated Depreciation

The net value of property, plant, and equipment consistently increases over the periods, growing from about $57,330 million initially to a peak near $109,763 million before a modest decline towards approximately $105,047 million at the latest period. This steady investment in fixed assets indicates ongoing capital expenditure or asset acquisitions over time.

Net Fixed Asset Turnover

The ratio of net fixed asset turnover shows a significant decreasing trend, starting from a high ratio of 1.36 and progressively declining to around 0.51 by the end of the periods. This ratio reflects the efficiency of generating revenue from fixed assets and its decline suggests that the increase in property, plant, and equipment is not being matched proportionally by net revenue growth. The downward slope indicates diminishing asset utilization efficiency.

In summary, the data reveals that while the company is continually expanding its fixed asset base, its capacity to convert these assets into revenue has been weakening. The steady expansion of property and equipment contrasts with declining revenue figures, leading to a reduced net fixed asset turnover ratio. These patterns suggest that asset investments may not yet be fully productive or that revenue generation has faced challenges relative to the scale of assets deployed.

The financial data reveals several notable trends in the quarterly performance over the periods analyzed. The net revenue demonstrates a fluctuating yet generally declining pattern from early 2021 through mid-2023, decreasing from approximately $19.7 billion to a low near $11.7 billion. Following this low point, a gradual recovery is observable, with net revenue rising to about $15.4 billion by the end of 2023. However, from early 2024 onwards, revenue exhibits a moderate decline again, punctuated by some quarters of slight recovery, ending near $13.7 billion by late 2025.

Total assets show a consistent increasing trend over the entire period, moving from around $150.6 billion in the first quarter of 2021 to over $204.5 billion by the third quarter of 2025. This growth in asset base suggests continued investment or accumulation of resources, despite the fluctuations and general downward trend in revenue.

The total asset turnover ratio, a measure of efficiency in using assets to generate revenue, exhibits a clear downward trajectory from 0.52 in early 2021 to approximately 0.26 by late 2025. This declining ratio indicates that asset utilization efficiency has deteriorated over time, with assets generating progressively less revenue relative to their value.

Net Revenue

Experienced a downward trend from early 2021 through the first half of 2023, reaching a low point, followed by a temporary recovery in late 2023, and a subsequent mild decline through 2025.

Total Assets

Consistently increased throughout the entire period, showing investment growth or asset accumulation irrespective of revenue fluctuations.

Total Asset Turnover

Steadily decreased, reflecting a reduced efficiency in generating revenue from assets over the timeframe analyzed.

In summary, the company has expanded its asset base significantly, but this has not translated into proportional revenue growth. The efficiency of asset usage has diminished progressively, as evidenced by the declining asset turnover ratio. The revenue fluctuations alongside asset growth may suggest challenges in market conditions or operational factors impacting revenue generation despite increased asset investment.

The analysis of the quarterly financial data reveals several key trends in the company's performance over the observed periods.

Net Revenue

The net revenue shows a general declining trend from March 2021 to March 2025. Initially, revenue hovered around the 19,000 to 20,000 million US$ range in early 2021 but experienced a notable decline starting in 2022, reaching a low point of approximately 11,715 million US$ in April 2023. Following this trough, some recovery is observed with fluctuations, culminating in an increase to about 13,653 million US$ by September 2025. This indicates a contraction phase followed by partial stabilization and modest growth in the later periods.

Total Intel Stockholders’ Equity

The total stockholders' equity increased steadily from 79,807 million US$ in March 2021 to a peak around 115,229 million US$ in June 2024. After this peak, equity slightly declined and fluctuated, ending at approximately 106,376 million US$ in September 2025. This suggests overall growth in equity over the four-year span with some variability in the latter stages, possibly reflecting capital activities, retained earnings, or other equity adjustments.

Equity Turnover Ratio

The equity turnover ratio exhibits a consistent downward trend from 0.97 in March 2021 to around 0.5 by September 2025. This decline indicates that the company generated progressively less revenue per unit of equity, implying reduced efficiency in asset utilization relative to shareholders' equity. The ratio decreased sharply during the initial quarters and stabilized somewhat around the 0.5 level in the final periods assessed.

Overall, the data indicates that while the company’s equity base expanded significantly, the revenue generation relative to this equity weakened over time. The net revenue reduction, particularly between 2021 and mid-2023, may point to operational challenges or market conditions affecting sales. The recovery trends in revenue after April 2023, combined with the stabilization of equity and a lower equity turnover ratio, suggest restructuring or strategic shifts aimed at improving performance, though with less intensity in revenue relative to equity invested.