Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Intel Corp. (NASDAQ:INTC)

Analysis of Short-term (Operating) Activity Ratios

Beginner level

Short-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016
Turnover Ratios
Inventory turnover 4.06 3.41 3.74 3.39 4.18
Receivables turnover 11.48 9.40 10.54 11.19 12.66
Payables turnover 6.14 7.23 7.09 8.09 9.37
Working capital turnover 3.46 8.06 5.83 5.20 3.91
Average No. Days
Average inventory processing period 90 107 98 108 87
Add: Average receivable collection period 32 39 35 33 29
Operating cycle 122 146 133 141 116
Less: Average payables payment period 59 51 51 45 39
Cash conversion cycle 63 95 82 96 77

Based on: 10-K (filing date: 2021-01-22), 10-K (filing date: 2020-01-24), 10-K (filing date: 2019-02-01), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Intel Corp.’s inventory turnover ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.
Receivables turnover An activity ratio equal to revenue divided by receivables. Intel Corp.’s receivables turnover ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Intel Corp.’s payables turnover ratio increased from 2018 to 2019 but then decreased significantly from 2019 to 2020.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Intel Corp.’s working capital turnover ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

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.’s number of days of inventory outstanding deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Intel Corp.’s number of days of receivables outstanding deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Intel Corp.’s operating cycle deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 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.
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.’s cash conversion cycle deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.

Inventory Turnover

Intel Corp., inventory turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Cost of sales 34,255  29,825  27,111  23,692  23,196 
Inventories 8,427  8,744  7,253  6,983  5,553 
Short-term Activity Ratio
Inventory turnover1 4.06 3.41 3.74 3.39 4.18
Benchmarks
Inventory Turnover, Competitors2
Advanced Micro Devices Inc. 3.87 3.93 4.77 4.74 4.36
Analog Devices Inc. 3.14 3.24 3.35 3.71 3.17
Applied Materials Inc. 2.44 2.37 2.54 2.73 3.08
Broadcom Inc. 10.34 11.57 9.00 6.31 5.21
Lam Research Corp. 2.86 3.44 3.15 3.58 3.36
Micron Technology Inc. 2.65 2.48 3.48 3.81 3.42
NVIDIA Corp. 4.24 2.89 4.89 3.59 5.26
Qualcomm Inc. 3.56 6.14 6.05 4.81 6.27
Texas Instruments Inc. 2.66 2.61 2.48 2.73 2.87
Inventory Turnover, Sector
Semiconductors & Semiconductor Equipment 3.54 3.43 3.83 3.70 4.03
Inventory Turnover, Industry
Information Technology 12.63 12.79 13.11 12.36 14.73

Based on: 10-K (filing date: 2021-01-22), 10-K (filing date: 2020-01-24), 10-K (filing date: 2019-02-01), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Inventory turnover = Cost of sales ÷ Inventories
= 34,255 ÷ 8,427 = 4.06

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.’s inventory turnover ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.

Receivables Turnover

Intel Corp., receivables turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net revenue 77,867  71,965  70,848  62,761  59,387 
Accounts receivable, net of allowance for doubtful accounts 6,782  7,659  6,722  5,607  4,690 
Short-term Activity Ratio
Receivables turnover1 11.48 9.40 10.54 11.19 12.66
Benchmarks
Receivables Turnover, Competitors2
Advanced Micro Devices Inc. 4.73 3.62 5.24 13.32 13.74
Analog Devices Inc. 7.60 9.43 9.69 7.41 7.16
Applied Materials Inc. 5.81 5.77 6.73 6.22 4.75
Broadcom Inc. 10.40 6.93 6.27 7.20 6.07
Lam Research Corp. 4.79 6.63 5.09 4.79 4.66
Micron Technology Inc. 6.13 8.43 6.01 5.82 7.02
NVIDIA Corp. 6.59 8.23 7.68 8.37 9.92
Qualcomm Inc. 8.76 23.21 7.98 6.23 10.74
Texas Instruments Inc. 10.23 13.39 13.08 11.71 10.55
Receivables Turnover, Sector
Semiconductors & Semiconductor Equipment 8.20 8.66 7.82 7.97 8.94
Receivables Turnover, Industry
Information Technology 8.32 7.67 7.92 8.29 8.57

Based on: 10-K (filing date: 2021-01-22), 10-K (filing date: 2020-01-24), 10-K (filing date: 2019-02-01), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Receivables turnover = Net revenue ÷ Accounts receivable, net of allowance for doubtful accounts
= 77,867 ÷ 6,782 = 11.48

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.’s receivables turnover ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.

Payables Turnover

Intel Corp., payables turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Cost of sales 34,255  29,825  27,111  23,692  23,196 
Accounts payable 5,581  4,128  3,824  2,928  2,475 
Short-term Activity Ratio
Payables turnover1 6.14 7.23 7.09 8.09 9.37
Benchmarks
Payables Turnover, Competitors2
Advanced Micro Devices Inc. 11.57 3.91 7.63 9.13 7.44
Analog Devices Inc. 8.42 8.78 7.54 8.65 6.97
Applied Materials Inc. 8.46 8.58 9.47 8.47 7.77
Broadcom Inc. 12.41 11.83 12.47 8.26 5.79
Lam Research Corp. 9.18 14.06 11.57 9.49 9.38
Micron Technology Inc. 6.79 7.58 7.39 8.92 8.34
NVIDIA Corp. 6.04 8.89 6.53 5.87 7.43
Qualcomm Inc. 4.12 6.29 5.61 4.97 5.25
Texas Instruments Inc. 12.51 13.45 11.52 11.47 12.95
Payables Turnover, Sector
Semiconductors & Semiconductor Equipment 6.99 7.87 7.87 7.82 7.74
Payables Turnover, Industry
Information Technology 5.76 5.45 4.90 4.94 5.58

Based on: 10-K (filing date: 2021-01-22), 10-K (filing date: 2020-01-24), 10-K (filing date: 2019-02-01), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Payables turnover = Cost of sales ÷ Accounts payable
= 34,255 ÷ 5,581 = 6.14

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.’s payables turnover ratio increased from 2018 to 2019 but then decreased significantly from 2019 to 2020.

Working Capital Turnover

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

Microsoft Excel LibreOffice Calc
Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Current assets 47,249  31,239  28,787  29,500  35,508 
Less: Current liabilities 24,754  22,310  16,626  17,421  20,302 
Working capital 22,495  8,929  12,161  12,079  15,206 
 
Net revenue 77,867  71,965  70,848  62,761  59,387 
Short-term Activity Ratio
Working capital turnover1 3.46 8.06 5.83 5.20 3.91
Benchmarks
Working Capital Turnover, Competitors2
Advanced Micro Devices Inc. 2.62 3.01 4.16 4.69 3.61
Analog Devices Inc. 4.86 12.57 8.78 6.76 0.82
Applied Materials Inc. 1.93 2.54 2.58 1.65 2.29
Broadcom Inc. 4.32 7.49 3.08 1.33 3.27
Lam Research Corp. 1.31 1.56 1.85 1.29 0.87
Micron Technology Inc. 1.89 2.31 2.95 2.85 2.66
NVIDIA Corp. 0.92 1.27 1.20 1.02 1.35
Qualcomm Inc. 2.39 3.10 3.70 0.68 1.50
Texas Instruments Inc. 1.84 2.17 2.81 2.31 2.57
Working Capital Turnover, Sector
Semiconductors & Semiconductor Equipment 2.37 3.40 3.30 1.87 2.32
Working Capital Turnover, Industry
Information Technology 2.83 3.07 2.82 2.12 2.31

Based on: 10-K (filing date: 2021-01-22), 10-K (filing date: 2020-01-24), 10-K (filing date: 2019-02-01), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Working capital turnover = Net revenue ÷ Working capital
= 77,867 ÷ 22,495 = 3.46

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.’s working capital turnover ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

Average Inventory Processing Period

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

Microsoft Excel LibreOffice Calc
Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016
Selected Financial Data
Inventory turnover 4.06 3.41 3.74 3.39 4.18
Short-term Activity Ratio (no. days)
Average inventory processing period1 90 107 98 108 87
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Advanced Micro Devices Inc. 94 93 77 77 84
Analog Devices Inc. 116 113 109 98 115
Applied Materials Inc. 150 154 144 134 119
Broadcom Inc. 35 32 41 58 70
Lam Research Corp. 128 106 116 102 109
Micron Technology Inc. 138 147 105 96 107
NVIDIA Corp. 86 126 75 102 69
Qualcomm Inc. 102 59 60 76 58
Texas Instruments Inc. 137 140 147 134 127
Average Inventory Processing Period, Sector
Semiconductors & Semiconductor Equipment 103 106 95 99 91
Average Inventory Processing Period, Industry
Information Technology 29 29 28 30 25

Based on: 10-K (filing date: 2021-01-22), 10-K (filing date: 2020-01-24), 10-K (filing date: 2019-02-01), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 4.06 = 90

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.’s number of days of inventory outstanding deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.

Average Receivable Collection Period

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

Microsoft Excel LibreOffice Calc
Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016
Selected Financial Data
Receivables turnover 11.48 9.40 10.54 11.19 12.66
Short-term Activity Ratio (no. days)
Average receivable collection period1 32 39 35 33 29
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Advanced Micro Devices Inc. 77 101 70 27 27
Analog Devices Inc. 48 39 38 49 51
Applied Materials Inc. 63 63 54 59 77
Broadcom Inc. 35 53 58 51 60
Lam Research Corp. 76 55 72 76 78
Micron Technology Inc. 59 43 61 63 52
NVIDIA Corp. 55 44 48 44 37
Qualcomm Inc. 42 16 46 59 34
Texas Instruments Inc. 36 27 28 31 35
Average Receivable Collection Period, Sector
Semiconductors & Semiconductor Equipment 45 42 47 46 41
Average Receivable Collection Period, Industry
Information Technology 44 48 46 44 43

Based on: 10-K (filing date: 2021-01-22), 10-K (filing date: 2020-01-24), 10-K (filing date: 2019-02-01), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 11.48 = 32

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.’s number of days of receivables outstanding deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.

Operating Cycle

Intel Corp., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel LibreOffice Calc
Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016
Selected Financial Data
Average inventory processing period 90 107 98 108 87
Average receivable collection period 32 39 35 33 29
Short-term Activity Ratio
Operating cycle1 122 146 133 141 116
Benchmarks
Operating Cycle, Competitors2
Advanced Micro Devices Inc. 171 194 147 104 111
Analog Devices Inc. 164 152 147 147 166
Applied Materials Inc. 213 217 198 193 196
Broadcom Inc. 70 85 99 109 130
Lam Research Corp. 204 161 188 178 187
Micron Technology Inc. 197 190 166 159 159
NVIDIA Corp. 141 170 123 146 106
Qualcomm Inc. 144 75 106 135 92
Texas Instruments Inc. 173 167 175 165 162
Operating Cycle, Sector
Semiconductors & Semiconductor Equipment 148 148 142 145 132
Operating Cycle, Industry
Information Technology 73 77 74 74 68

Based on: 10-K (filing date: 2021-01-22), 10-K (filing date: 2020-01-24), 10-K (filing date: 2019-02-01), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 90 + 32 = 122

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.’s operating cycle deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.

Average Payables Payment Period

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

Microsoft Excel LibreOffice Calc
Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016
Selected Financial Data
Payables turnover 6.14 7.23 7.09 8.09 9.37
Short-term Activity Ratio (no. days)
Average payables payment period1 59 51 51 45 39
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Advanced Micro Devices Inc. 32 93 48 40 49
Analog Devices Inc. 43 42 48 42 52
Applied Materials Inc. 43 43 39 43 47
Broadcom Inc. 29 31 29 44 63
Lam Research Corp. 40 26 32 38 39
Micron Technology Inc. 54 48 49 41 44
NVIDIA Corp. 60 41 56 62 49
Qualcomm Inc. 89 58 65 73 70
Texas Instruments Inc. 29 27 32 32 28
Average Payables Payment Period, Sector
Semiconductors & Semiconductor Equipment 52 46 46 47 47
Average Payables Payment Period, Industry
Information Technology 63 67 74 74 65

Based on: 10-K (filing date: 2021-01-22), 10-K (filing date: 2020-01-24), 10-K (filing date: 2019-02-01), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 6.14 = 59

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.

Cash Conversion Cycle

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

No. days

Microsoft Excel LibreOffice Calc
Dec 26, 2020 Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016
Selected Financial Data
Average inventory processing period 90 107 98 108 87
Average receivable collection period 32 39 35 33 29
Average payables payment period 59 51 51 45 39
Short-term Activity Ratio
Cash conversion cycle1 63 95 82 96 77
Benchmarks
Cash Conversion Cycle, Competitors2
Advanced Micro Devices Inc. 139 101 99 64 62
Analog Devices Inc. 121 110 99 105 114
Applied Materials Inc. 170 174 159 150 149
Broadcom Inc. 41 54 70 65 67
Lam Research Corp. 164 135 156 140 148
Micron Technology Inc. 143 142 117 118 115
NVIDIA Corp. 81 129 67 84 57
Qualcomm Inc. 55 17 41 62 22
Texas Instruments Inc. 144 140 143 133 134
Cash Conversion Cycle, Sector
Semiconductors & Semiconductor Equipment 96 102 96 98 85
Cash Conversion Cycle, Industry
Information Technology 10 10 0 0 3

Based on: 10-K (filing date: 2021-01-22), 10-K (filing date: 2020-01-24), 10-K (filing date: 2019-02-01), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 90 + 3259 = 63

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.’s cash conversion cycle deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.