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 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Turnover Ratios
Inventory turnover 2.92 2.74 3.27 4.06 3.41
Receivables turnover 15.94 15.26 8.36 11.48 9.40
Payables turnover 3.79 3.77 6.13 6.14 7.23
Working capital turnover 3.56 3.45 2.61 3.46 8.06
Average No. Days
Average inventory processing period 125 133 112 90 107
Add: Average receivable collection period 23 24 44 32 39
Operating cycle 148 157 156 122 146
Less: Average payables payment period 96 97 60 59 51
Cash conversion cycle 52 60 96 63 95

Based on: 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).

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 deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Receivables turnover An activity ratio equal to revenue divided by receivables. Intel Corp. receivables turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Intel Corp. payables turnover ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Intel Corp. working capital turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

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 deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
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 2021 to 2022 and from 2022 to 2023.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Intel Corp. operating cycle deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
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 2021 to 2022 but then slightly decreased from 2022 to 2023.
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 2021 to 2022 and from 2022 to 2023.

Inventory Turnover

Intel Corp., inventory turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Cost of sales 32,517 36,188 35,209 34,255 29,825
Inventories 11,127 13,224 10,776 8,427 8,744
Short-term Activity Ratio
Inventory turnover1 2.92 2.74 3.27 4.06 3.41
Benchmarks
Inventory Turnover, Competitors2
Advanced Micro Devices Inc. 2.81 3.45 4.35 3.87 3.93
Analog Devices Inc. 2.70 3.20 2.33 3.14 3.24
Applied Materials Inc. 2.47 2.33 2.82 2.44 2.37
Broadcom Inc. 5.86 5.77 8.18 10.34 11.57
First Solar Inc. 2.46 4.10 3.29 3.58 5.67
KLA Corp. 1.47 1.67 1.76 1.87 1.48
Lam Research Corp. 2.00 2.36 2.91 2.86 3.44
Micron Technology Inc. 2.02 2.53 3.85 2.65 2.48
NVIDIA Corp. 2.25 3.62 3.44 4.24 2.89
Qualcomm Inc. 2.47 2.94 4.42 3.56 6.14
Texas Instruments Inc. 1.63 2.27 3.12 2.66 2.61
Inventory Turnover, Sector
Semiconductors & Semiconductor Equipment 2.47 2.83 3.50 3.47 3.38
Inventory Turnover, Industry
Information Technology 7.22 7.86 9.33 10.22 10.49

Based on: 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).

1 2023 Calculation
Inventory turnover = Cost of sales ÷ Inventories
= 32,517 ÷ 11,127 = 2.92

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 deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Receivables Turnover

Intel Corp., receivables turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Net revenue 54,228 63,054 79,024 77,867 71,965
Accounts receivable, net 3,402 4,133 9,457 6,782 7,659
Short-term Activity Ratio
Receivables turnover1 15.94 15.26 8.36 11.48 9.40
Benchmarks
Receivables Turnover, Competitors2
Advanced Micro Devices Inc. 4.22 5.72 6.07 4.73 3.62
Analog Devices Inc. 8.37 6.67 5.02 7.60 9.43
Applied Materials Inc. 5.13 4.25 4.66 5.81 5.77
Broadcom Inc. 11.36 11.22 13.25 10.40 6.93
First Solar Inc. 5.02 8.08 6.81 10.19 6.45
KLA Corp. 5.99 5.08 5.30 5.24 4.61
Lam Research Corp. 6.17 3.99 4.83 4.79 6.63
Micron Technology Inc. 7.59 6.45 5.63 6.13 8.43
NVIDIA Corp. 7.05 5.79 6.86 6.59 8.23
Qualcomm Inc. 18.63 10.59 15.16 8.76 23.21
Texas Instruments Inc. 9.80 10.57 10.78 10.23 13.39
Receivables Turnover, Sector
Semiconductors & Semiconductor Equipment 8.35 7.52 7.47 8.10 8.45
Receivables Turnover, Industry
Information Technology 7.38 7.40 7.53 8.00 7.64

Based on: 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).

1 2023 Calculation
Receivables turnover = Net revenue ÷ Accounts receivable, net
= 54,228 ÷ 3,402 = 15.94

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 2021 to 2022 and from 2022 to 2023.

Payables Turnover

Intel Corp., payables turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Cost of sales 32,517 36,188 35,209 34,255 29,825
Accounts payable 8,578 9,595 5,747 5,581 4,128
Short-term Activity Ratio
Payables turnover1 3.79 3.77 6.13 6.14 7.23
Benchmarks
Payables Turnover, Competitors2
Advanced Micro Devices Inc. 5.95 5.21 6.44 11.57 3.91
Analog Devices Inc. 8.98 7.70 6.30 8.42 8.78
Applied Materials Inc. 9.56 7.86 8.25 8.46 8.58
Broadcom Inc. 9.20 11.13 9.77 12.41 11.83
First Solar Inc. 9.74 7.47 11.34 11.08 11.53
KLA Corp. 11.37 8.10 8.10 9.27 9.24
Lam Research Corp. 20.50 9.25 9.43 9.18 14.06
Micron Technology Inc. 9.83 7.87 9.91 6.79 7.58
NVIDIA Corp. 9.74 5.29 5.23 6.04 8.89
Qualcomm Inc. 8.30 4.91 5.19 4.12 6.29
Texas Instruments Inc. 8.10 7.35 10.45 12.51 13.45
Payables Turnover, Sector
Semiconductors & Semiconductor Equipment 6.89 5.63 7.11 7.08 7.97
Payables Turnover, Industry
Information Technology 4.74 4.38 4.83 5.23 5.15

Based on: 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).

1 2023 Calculation
Payables turnover = Cost of sales ÷ Accounts payable
= 32,517 ÷ 8,578 = 3.79

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 2021 to 2022 but then slightly increased from 2022 to 2023.

Working Capital Turnover

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

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Current assets 43,269 50,407 57,718 47,249 31,239
Less: Current liabilities 28,053 32,155 27,462 24,754 22,310
Working capital 15,216 18,252 30,256 22,495 8,929
 
Net revenue 54,228 63,054 79,024 77,867 71,965
Short-term Activity Ratio
Working capital turnover1 3.56 3.45 2.61 3.46 8.06
Benchmarks
Working Capital Turnover, Competitors2
Advanced Micro Devices Inc. 2.25 2.73 3.78 2.62 3.01
Analog Devices Inc. 10.40 4.81 2.81 4.86 12.57
Applied Materials Inc. 2.25 3.02 2.36 1.93 2.54
Broadcom Inc. 2.66 2.90 2.66 4.32 7.49
First Solar Inc. 1.00 0.95 1.19 1.25 1.34
KLA Corp. 2.27 2.14 1.93 1.92 1.79
Lam Research Corp. 1.93 2.23 1.80 1.31 1.56
Micron Technology Inc. 0.94 2.16 2.05 1.89 2.31
NVIDIA Corp. 1.63 1.10 1.37 0.92 1.27
Qualcomm Inc. 2.79 4.99 4.13 2.39 3.10
Texas Instruments Inc. 1.48 1.81 1.65 1.84 2.17
Working Capital Turnover, Sector
Semiconductors & Semiconductor Equipment 2.21 2.51 2.36 2.33 3.26
Working Capital Turnover, Industry
Information Technology 5.42 5.92 3.98 2.96 3.21

Based on: 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).

1 2023 Calculation
Working capital turnover = Net revenue ÷ Working capital
= 54,228 ÷ 15,216 = 3.56

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 improved from 2021 to 2022 and from 2022 to 2023.

Average Inventory Processing Period

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

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data
Inventory turnover 2.92 2.74 3.27 4.06 3.41
Short-term Activity Ratio (no. days)
Average inventory processing period1 125 133 112 90 107
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Advanced Micro Devices Inc. 130 106 84 94 93
Analog Devices Inc. 135 114 157 116 113
Applied Materials Inc. 148 157 129 150 154
Broadcom Inc. 62 63 45 35 32
First Solar Inc. 148 89 111 102 64
KLA Corp. 249 218 207 195 247
Lam Research Corp. 182 155 126 128 106
Micron Technology Inc. 181 144 95 138 147
NVIDIA Corp. 162 101 106 86 126
Qualcomm Inc. 148 124 83 102 59
Texas Instruments Inc. 225 161 117 137 140
Average Inventory Processing Period, Sector
Semiconductors & Semiconductor Equipment 148 129 104 105 108
Average Inventory Processing Period, Industry
Information Technology 51 46 39 36 35

Based on: 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).

1 2023 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 2.92 = 125

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 deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Average Receivable Collection Period

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

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data
Receivables turnover 15.94 15.26 8.36 11.48 9.40
Short-term Activity Ratio (no. days)
Average receivable collection period1 23 24 44 32 39
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Advanced Micro Devices Inc. 87 64 60 77 101
Analog Devices Inc. 44 55 73 48 39
Applied Materials Inc. 71 86 78 63 63
Broadcom Inc. 32 33 28 35 53
First Solar Inc. 73 45 54 36 57
KLA Corp. 61 72 69 70 79
Lam Research Corp. 59 91 76 76 55
Micron Technology Inc. 48 57 65 59 43
NVIDIA Corp. 52 63 53 55 44
Qualcomm Inc. 20 34 24 42 16
Texas Instruments Inc. 37 35 34 36 27
Average Receivable Collection Period, Sector
Semiconductors & Semiconductor Equipment 44 49 49 45 43
Average Receivable Collection Period, Industry
Information Technology 49 49 48 46 48

Based on: 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).

1 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 15.94 = 23

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 2021 to 2022 and from 2022 to 2023.

Operating Cycle

Intel Corp., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data
Average inventory processing period 125 133 112 90 107
Average receivable collection period 23 24 44 32 39
Short-term Activity Ratio
Operating cycle1 148 157 156 122 146
Benchmarks
Operating Cycle, Competitors2
Advanced Micro Devices Inc. 217 170 144 171 194
Analog Devices Inc. 179 169 230 164 152
Applied Materials Inc. 219 243 207 213 217
Broadcom Inc. 94 96 73 70 85
First Solar Inc. 221 134 165 138 121
KLA Corp. 310 290 276 265 326
Lam Research Corp. 241 246 202 204 161
Micron Technology Inc. 229 201 160 197 190
NVIDIA Corp. 214 164 159 141 170
Qualcomm Inc. 168 158 107 144 75
Texas Instruments Inc. 262 196 151 173 167
Operating Cycle, Sector
Semiconductors & Semiconductor Equipment 192 178 153 150 151
Operating Cycle, Industry
Information Technology 100 95 87 82 83

Based on: 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).

1 2023 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 125 + 23 = 148

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 deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Average Payables Payment Period

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

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data
Payables turnover 3.79 3.77 6.13 6.14 7.23
Short-term Activity Ratio (no. days)
Average payables payment period1 96 97 60 59 51
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Advanced Micro Devices Inc. 61 70 57 32 93
Analog Devices Inc. 41 47 58 43 42
Applied Materials Inc. 38 46 44 43 43
Broadcom Inc. 40 33 37 29 31
First Solar Inc. 37 49 32 33 32
KLA Corp. 32 45 45 39 40
Lam Research Corp. 18 39 39 40 26
Micron Technology Inc. 37 46 37 54 48
NVIDIA Corp. 37 69 70 60 41
Qualcomm Inc. 44 74 70 89 58
Texas Instruments Inc. 45 50 35 29 27
Average Payables Payment Period, Sector
Semiconductors & Semiconductor Equipment 53 65 51 52 46
Average Payables Payment Period, Industry
Information Technology 77 83 76 70 71

Based on: 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).

1 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 3.79 = 96

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 2021 to 2022 but then slightly decreased from 2022 to 2023.

Cash Conversion Cycle

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

No. days

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data
Average inventory processing period 125 133 112 90 107
Average receivable collection period 23 24 44 32 39
Average payables payment period 96 97 60 59 51
Short-term Activity Ratio
Cash conversion cycle1 52 60 96 63 95
Benchmarks
Cash Conversion Cycle, Competitors2
Advanced Micro Devices Inc. 156 100 87 139 101
Analog Devices Inc. 138 122 172 121 110
Applied Materials Inc. 181 197 163 170 174
Broadcom Inc. 54 63 36 41 54
First Solar Inc. 184 85 133 105 89
KLA Corp. 278 245 231 226 286
Lam Research Corp. 223 207 163 164 135
Micron Technology Inc. 192 155 123 143 142
NVIDIA Corp. 177 95 89 81 129
Qualcomm Inc. 124 84 37 55 17
Texas Instruments Inc. 217 146 116 144 140
Cash Conversion Cycle, Sector
Semiconductors & Semiconductor Equipment 139 113 102 98 105
Cash Conversion Cycle, Industry
Information Technology 23 12 11 12 12

Based on: 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).

1 2023 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 125 + 2396 = 52

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 2021 to 2022 and from 2022 to 2023.