Enterprise Value to EBITDA (EV/EBITDA)
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- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Analysis of Revenues
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Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
Intel Corp., EBITDA calculation
US$ in millions
Based on: 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).
The financial performance demonstrates a significant downward trend over the observed periods across all key earnings metrics. There is a notable decline in net income attributable to the company, falling from a positive value of 20,899 million US dollars in 2020 to a negative value of -18,756 million US dollars by 2024. This indicates the company has transitioned from profitability to losses during this timeframe.
Earnings before tax (EBT) follow a similar trajectory, decreasing from 25,078 million US dollars in 2020 to a negative value of -11,210 million US dollars in 2024. The decline in EBT measures suggests a worsening pre-tax profitability situation, consistent with the net income results.
Operating earnings, as measured by earnings before interest and tax (EBIT), also reflect this steep decline. Starting at 25,707 million US dollars in 2020, EBIT drops dramatically to -10,176 million US dollars in 2024. This indicates operational challenges negatively impacting earnings before financing and tax expenses.
When considering earnings before interest, tax, depreciation, and amortization (EBITDA), a similar downward pattern emerges. EBITDA decreased from 37,946 million US dollars in 2020 to 1,203 million US dollars by 2024. While still positive in 2024, the drastic reduction in EBITDA suggests significant erosion in core operational cash flow generation capacity.
- Overall trends and insights
- The company has experienced a consistent and marked decline in profitability and earnings from 2020 through 2024. The progression from strong positive earnings across all measures to negative values in net income, EBT, and EBIT by the final period signals fundamental operational and financial challenges.
- The substantial contraction in EBITDA, although remaining slightly positive in 2024, reinforces concerns about reduced operational efficiency and cash generation capability.
- This trend suggests the company’s cost structures, revenue streams, or both may have deteriorated, resulting in losses and weakened financial health by the end of the observed timeframe.
Enterprise Value to EBITDA Ratio, Current
Intel Corp., current EV/EBITDA calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | |
| Earnings before interest, tax, depreciation and amortization (EBITDA) | |
| Valuation Ratio | |
| EV/EBITDA | |
| Benchmarks | |
| EV/EBITDA, Competitors1 | |
| 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. | |
| EV/EBITDA, Sector | |
| Semiconductors & Semiconductor Equipment | |
| EV/EBITDA, Industry | |
| Information Technology | |
Based on: 10-K (reporting date: 2024-12-28).
1 Click competitor name to see calculations.
If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.
Enterprise Value to EBITDA Ratio, Historical
Intel Corp., historical EV/EBITDA calculation, comparison to benchmarks
| Dec 28, 2024 | Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Enterprise value (EV)1 | ||||||
| Earnings before interest, tax, depreciation and amortization (EBITDA)2 | ||||||
| Valuation Ratio | ||||||
| EV/EBITDA3 | ||||||
| Benchmarks | ||||||
| EV/EBITDA, Competitors4 | ||||||
| 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. | ||||||
| EV/EBITDA, Sector | ||||||
| Semiconductors & Semiconductor Equipment | ||||||
| EV/EBITDA, Industry | ||||||
| Information Technology | ||||||
Based on: 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).
3 2024 Calculation
EV/EBITDA = EV ÷ EBITDA
= ÷ =
4 Click competitor name to see calculations.
The financial data reveals fluctuating trends in the company's enterprise value (EV), EBITDA, and their corresponding valuation multiple, EV/EBITDA, over the observed periods.
- Enterprise Value (EV)
- The enterprise value experienced a decline from US$242,716 million in 2020 to US$132,074 million in 2022, followed by a rebound to US$213,159 million in 2023, and then a subsequent decrease to US$117,843 million in 2024. This pattern indicates significant volatility in the company's market valuation across these years.
- EBITDA
- EBITDA showed a consistent downward trend from US$37,946 million in 2020 to US$1,203 million in 2024. The most pronounced declines occurred between 2021 and 2023, indicating reduced operating profitability and cash flow generation capabilities.
- EV/EBITDA Ratio
- This valuation multiple remained relatively stable between 6.02 and 6.4 from 2020 to 2022, suggesting a consistent market valuation relative to operating earnings during this period. However, it escalated sharply to 18.96 in 2023 and surged further to 97.96 in 2024. The dramatic increase is primarily driven by the steep decline in EBITDA while enterprise value also fluctuated, indicating a potential overvaluation or financial stress reflected in operating earnings compression.
Overall, the company experienced a decline in operating profitability alongside a volatile enterprise value, leading to an atypical increase in valuation multiples in the most recent years. This may point to market concerns regarding earnings sustainability or other underlying operational challenges.