Stock Analysis on Net

Intel Corp. (NASDAQ:INTC)

Analysis of Short-term (Operating) Activity Ratios 

Microsoft Excel

Short-term Activity Ratios (Summary)

Intel Corp., short-term (operating) activity ratios

Microsoft Excel
Dec 25, 2021 Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017
Turnover Ratios
Inventory turnover 3.27 4.06 3.41 3.74 3.39
Receivables turnover 8.36 11.48 9.40 10.54 11.19
Payables turnover 6.13 6.14 7.23 7.09 8.09
Working capital turnover 2.61 3.46 8.06 5.83 5.20
Average No. Days
Average inventory processing period 112 90 107 98 108
Add: Average receivable collection period 44 32 39 35 33
Operating cycle 156 122 146 133 141
Less: Average payables payment period 60 59 51 51 45
Cash conversion cycle 96 63 95 82 96

Based on: 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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Intel Corp. inventory turnover ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.
Receivables turnover An activity ratio equal to revenue divided by receivables. Intel Corp. receivables turnover ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Intel Corp. payables turnover ratio decreased from 2019 to 2020 and from 2020 to 2021.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Intel Corp. working capital turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Intel Corp. number of days of inventory outstanding improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Intel Corp. number of days of receivables outstanding improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Intel Corp. operating cycle improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Intel Corp. number of days of payables outstanding increased from 2019 to 2020 and from 2020 to 2021.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Intel Corp. cash conversion cycle improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.

Inventory Turnover

Intel Corp., inventory turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 25, 2021 Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017
Selected Financial Data (US$ in millions)
Cost of sales 35,209  34,255  29,825  27,111  23,692 
Inventories 10,776  8,427  8,744  7,253  6,983 
Short-term Activity Ratio
Inventory turnover1 3.27 4.06 3.41 3.74 3.39
Benchmarks
Inventory Turnover, Competitors2
Advanced Micro Devices Inc. 4.35 3.87 3.93 4.77 4.74
Analog Devices Inc. 2.33 3.14 3.24 3.35 3.71
Applied Materials Inc. 2.82 2.44 2.37 2.54 2.73
Broadcom Inc. 8.18 10.34 11.57 9.00 6.31
Lam Research Corp. 2.91 2.86 3.44 3.15 3.58
Micron Technology Inc. 3.85 2.65 2.48 3.48 3.81
NVIDIA Corp. 3.44 4.24 2.89 4.89 3.59
NXP Semiconductors N.V. 4.20 4.25 3.57 3.56 3.75
ON Semiconductor Corp. 2.92 2.83 2.88 2.97 3.22
Qualcomm Inc. 4.42 3.56 6.14 6.05 4.81
Texas Instruments Inc. 3.12 2.66 2.61 2.48 2.73
Inventory Turnover, Sector
Semiconductors & Semiconductor Equipment 3.58 3.53 3.42 3.77 3.68
Inventory Turnover, Industry
Information Technology 11.46 12.13 12.17 12.41 11.73

Based on: 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).

1 2021 Calculation
Inventory turnover = Cost of sales ÷ Inventories
= 35,209 ÷ 10,776 = 3.27

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Intel Corp. inventory turnover ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.

Receivables Turnover

Intel Corp., receivables turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 25, 2021 Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017
Selected Financial Data (US$ in millions)
Net revenue 79,024  77,867  71,965  70,848  62,761 
Accounts receivable, net of allowance for doubtful accounts 9,457  6,782  7,659  6,722  5,607 
Short-term Activity Ratio
Receivables turnover1 8.36 11.48 9.40 10.54 11.19
Benchmarks
Receivables Turnover, Competitors2
Advanced Micro Devices Inc. 6.07 4.73 3.62 5.24 13.32
Analog Devices Inc. 5.02 7.60 9.43 9.69 7.41
Applied Materials Inc. 4.66 5.81 5.77 6.73 6.22
Broadcom Inc. 13.25 10.40 6.93 6.27 7.20
Lam Research Corp. 4.83 4.79 6.63 5.09 4.79
Micron Technology Inc. 5.63 6.13 8.43 6.01 5.82
NVIDIA Corp. 6.86 6.59 8.23 7.68 8.37
NXP Semiconductors N.V. 11.99 11.26 13.31 11.88 10.53
ON Semiconductor Corp. 8.33 7.77 7.83 8.57 7.90
Qualcomm Inc. 15.16 8.76 23.21 7.98 6.23
Texas Instruments Inc. 10.78 10.23 13.39 13.08 11.71
Receivables Turnover, Sector
Semiconductors & Semiconductor Equipment 7.69 8.27 8.76 7.95 8.06
Receivables Turnover, Industry
Information Technology 7.93 8.40 7.75 7.98 8.34

Based on: 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).

1 2021 Calculation
Receivables turnover = Net revenue ÷ Accounts receivable, net of allowance for doubtful accounts
= 79,024 ÷ 9,457 = 8.36

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Intel Corp. receivables turnover ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.

Payables Turnover

Intel Corp., payables turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 25, 2021 Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017
Selected Financial Data (US$ in millions)
Cost of sales 35,209  34,255  29,825  27,111  23,692 
Accounts payable 5,747  5,581  4,128  3,824  2,928 
Short-term Activity Ratio
Payables turnover1 6.13 6.14 7.23 7.09 8.09
Benchmarks
Payables Turnover, Competitors2
Advanced Micro Devices Inc. 6.44 11.57 3.91 7.63 9.13
Analog Devices Inc. 6.30 8.42 8.78 7.54 8.65
Applied Materials Inc. 8.25 8.46 8.58 9.47 8.47
Broadcom Inc. 9.77 12.41 11.83 12.47 8.26
Lam Research Corp. 9.43 9.18 14.06 11.57 9.49
Micron Technology Inc. 9.91 6.79 7.58 7.39 8.92
NVIDIA Corp. 5.23 6.04 8.89 6.53 5.87
NXP Semiconductors N.V. 3.99 4.42 4.51 4.56 4.05
ON Semiconductor Corp. 6.34 6.18 6.52 5.42 6.40
Qualcomm Inc. 5.19 4.12 6.29 5.61 4.97
Texas Instruments Inc. 9.14 12.51 13.45 11.52 11.47
Payables Turnover, Sector
Semiconductors & Semiconductor Equipment 6.79 6.80 7.57 7.50 7.39
Payables Turnover, Industry
Information Technology 5.44 5.77 5.46 4.90 4.94

Based on: 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).

1 2021 Calculation
Payables turnover = Cost of sales ÷ Accounts payable
= 35,209 ÷ 5,747 = 6.13

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Intel Corp. payables turnover ratio decreased from 2019 to 2020 and from 2020 to 2021.

Working Capital Turnover

Intel Corp., working capital turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 25, 2021 Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017
Selected Financial Data (US$ in millions)
Current assets 57,718  47,249  31,239  28,787  29,500 
Less: Current liabilities 27,462  24,754  22,310  16,626  17,421 
Working capital 30,256  22,495  8,929  12,161  12,079 
 
Net revenue 79,024  77,867  71,965  70,848  62,761 
Short-term Activity Ratio
Working capital turnover1 2.61 3.46 8.06 5.83 5.20
Benchmarks
Working Capital Turnover, Competitors2
Advanced Micro Devices Inc. 3.78 2.62 3.01 4.16 4.69
Analog Devices Inc. 2.81 4.86 12.57 8.78 6.76
Applied Materials Inc. 2.36 1.93 2.54 2.58 1.65
Broadcom Inc. 2.66 4.32 7.49 3.08 1.33
Lam Research Corp. 1.80 1.31 1.56 1.85 1.29
Micron Technology Inc. 2.05 1.89 2.31 2.95 2.85
NVIDIA Corp. 1.37 0.92 1.27 1.20 1.02
NXP Semiconductors N.V. 3.99 3.73 6.01 5.11 2.78
ON Semiconductor Corp. 3.01 3.48 4.59 3.46 3.64
Qualcomm Inc. 4.13 2.39 3.10 3.70 0.68
Texas Instruments Inc. 1.65 1.84 2.17 2.81 2.31
Working Capital Turnover, Sector
Semiconductors & Semiconductor Equipment 2.45 2.43 3.48 3.35 1.92
Working Capital Turnover, Industry
Information Technology 3.80 2.79 3.04 2.81 2.11

Based on: 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).

1 2021 Calculation
Working capital turnover = Net revenue ÷ Working capital
= 79,024 ÷ 30,256 = 2.61

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Intel Corp. working capital turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.

Average Inventory Processing Period

Intel Corp., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel
Dec 25, 2021 Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017
Selected Financial Data
Inventory turnover 3.27 4.06 3.41 3.74 3.39
Short-term Activity Ratio (no. days)
Average inventory processing period1 112 90 107 98 108
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Advanced Micro Devices Inc. 84 94 93 77 77
Analog Devices Inc. 157 116 113 109 98
Applied Materials Inc. 129 150 154 144 134
Broadcom Inc. 45 35 32 41 58
Lam Research Corp. 126 128 106 116 102
Micron Technology Inc. 95 138 147 105 96
NVIDIA Corp. 106 86 126 75 102
NXP Semiconductors N.V. 87 86 102 102 97
ON Semiconductor Corp. 125 129 127 123 113
Qualcomm Inc. 83 102 59 60 76
Texas Instruments Inc. 117 137 140 147 134
Average Inventory Processing Period, Sector
Semiconductors & Semiconductor Equipment 102 103 107 97 99
Average Inventory Processing Period, Industry
Information Technology 32 30 30 29 31

Based on: 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).

1 2021 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 3.27 = 112

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Intel Corp. number of days of inventory outstanding improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.

Average Receivable Collection Period

Intel Corp., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel
Dec 25, 2021 Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017
Selected Financial Data
Receivables turnover 8.36 11.48 9.40 10.54 11.19
Short-term Activity Ratio (no. days)
Average receivable collection period1 44 32 39 35 33
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Advanced Micro Devices Inc. 60 77 101 70 27
Analog Devices Inc. 73 48 39 38 49
Applied Materials Inc. 78 63 63 54 59
Broadcom Inc. 28 35 53 58 51
Lam Research Corp. 76 76 55 72 76
Micron Technology Inc. 65 59 43 61 63
NVIDIA Corp. 53 55 44 48 44
NXP Semiconductors N.V. 30 32 27 31 35
ON Semiconductor Corp. 44 47 47 43 46
Qualcomm Inc. 24 42 16 46 59
Texas Instruments Inc. 34 36 27 28 31
Average Receivable Collection Period, Sector
Semiconductors & Semiconductor Equipment 47 44 42 46 45
Average Receivable Collection Period, Industry
Information Technology 46 43 47 46 44

Based on: 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).

1 2021 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 8.36 = 44

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Intel Corp. number of days of receivables outstanding improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.

Operating Cycle

Intel Corp., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 25, 2021 Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017
Selected Financial Data
Average inventory processing period 112 90 107 98 108
Average receivable collection period 44 32 39 35 33
Short-term Activity Ratio
Operating cycle1 156 122 146 133 141
Benchmarks
Operating Cycle, Competitors2
Advanced Micro Devices Inc. 144 171 194 147 104
Analog Devices Inc. 230 164 152 147 147
Applied Materials Inc. 207 213 217 198 193
Broadcom Inc. 73 70 85 99 109
Lam Research Corp. 202 204 161 188 178
Micron Technology Inc. 160 197 190 166 159
NVIDIA Corp. 159 141 170 123 146
NXP Semiconductors N.V. 117 118 129 133 132
ON Semiconductor Corp. 169 176 174 166 159
Qualcomm Inc. 107 144 75 106 135
Texas Instruments Inc. 151 173 167 175 165
Operating Cycle, Sector
Semiconductors & Semiconductor Equipment 149 147 149 143 144
Operating Cycle, Industry
Information Technology 78 73 77 75 75

Based on: 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).

1 2021 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 112 + 44 = 156

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Intel Corp. operating cycle improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.

Average Payables Payment Period

Intel Corp., average payables payment period calculation, comparison to benchmarks

Microsoft Excel
Dec 25, 2021 Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017
Selected Financial Data
Payables turnover 6.13 6.14 7.23 7.09 8.09
Short-term Activity Ratio (no. days)
Average payables payment period1 60 59 51 51 45
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Advanced Micro Devices Inc. 57 32 93 48 40
Analog Devices Inc. 58 43 42 48 42
Applied Materials Inc. 44 43 43 39 43
Broadcom Inc. 37 29 31 29 44
Lam Research Corp. 39 40 26 32 38
Micron Technology Inc. 37 54 48 49 41
NVIDIA Corp. 70 60 41 56 62
NXP Semiconductors N.V. 91 83 81 80 90
ON Semiconductor Corp. 58 59 56 67 57
Qualcomm Inc. 70 89 58 65 73
Texas Instruments Inc. 40 29 27 32 32
Average Payables Payment Period, Sector
Semiconductors & Semiconductor Equipment 54 54 48 49 49
Average Payables Payment Period, Industry
Information Technology 67 63 67 74 74

Based on: 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).

1 2021 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 6.13 = 60

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Intel Corp. number of days of payables outstanding increased from 2019 to 2020 and from 2020 to 2021.

Cash Conversion Cycle

Intel Corp., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 25, 2021 Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017
Selected Financial Data
Average inventory processing period 112 90 107 98 108
Average receivable collection period 44 32 39 35 33
Average payables payment period 60 59 51 51 45
Short-term Activity Ratio
Cash conversion cycle1 96 63 95 82 96
Benchmarks
Cash Conversion Cycle, Competitors2
Advanced Micro Devices Inc. 87 139 101 99 64
Analog Devices Inc. 172 121 110 99 105
Applied Materials Inc. 163 170 174 159 150
Broadcom Inc. 36 41 54 70 65
Lam Research Corp. 163 164 135 156 140
Micron Technology Inc. 123 143 142 117 118
NVIDIA Corp. 89 81 129 67 84
NXP Semiconductors N.V. 26 35 48 53 42
ON Semiconductor Corp. 111 117 118 99 102
Qualcomm Inc. 37 55 17 41 62
Texas Instruments Inc. 111 144 140 143 133
Cash Conversion Cycle, Sector
Semiconductors & Semiconductor Equipment 95 93 101 94 95
Cash Conversion Cycle, Industry
Information Technology 11 10 10 1 1

Based on: 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).

1 2021 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 112 + 4460 = 96

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Intel Corp. cash conversion cycle improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.