Stock Analysis on Net

Intel Corp. (NASDAQ:INTC)

Enterprise Value to EBITDA (EV/EBITDA) 

Microsoft Excel

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Intel Corp., EBITDA calculation

US$ in millions

Microsoft Excel
12 months ended: Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Net income attributable to Intel 1,689 8,014 19,868 20,899 21,048
Add: Net income attributable to noncontrolling interest (14) 3
Add: Income tax expense (913) (249) 1,835 4,179 3,010
Earnings before tax (EBT) 762 7,768 21,703 25,078 24,058
Add: Interest expense 878 496 597 629 489
Earnings before interest and tax (EBIT) 1,640 8,264 22,300 25,707 24,547
Add: Depreciation 7,847 11,128 9,953 10,482 9,204
Add: Amortization of intangibles 1,755 1,907 1,839 1,757 1,622
Earnings before interest, tax, depreciation and amortization (EBITDA) 11,242 21,299 34,092 37,946 35,373

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).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Intel Corp. EBITDA decreased from 2021 to 2022 and from 2022 to 2023.

Enterprise Value to EBITDA Ratio, Current

Intel Corp., current EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in millions)
Enterprise value (EV) 128,669
Earnings before interest, tax, depreciation and amortization (EBITDA) 11,242
Valuation Ratio
EV/EBITDA 11.45
Benchmarks
EV/EBITDA, Competitors1
Advanced Micro Devices Inc. 55.79
Analog Devices Inc. 19.13
Applied Materials Inc. 17.71
Broadcom Inc. 39.60
First Solar Inc. 16.84
KLA Corp. 23.48
Lam Research Corp. 19.44
Micron Technology Inc. 12.11
NVIDIA Corp. 92.88
Qualcomm Inc. 18.92
Texas Instruments Inc. 21.04
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment 61.12
EV/EBITDA, Industry
Information Technology 35.16

Based on: 10-K (reporting date: 2023-12-30).

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

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Enterprise value (EV)1 213,159 132,074 205,348 242,716 308,724
Earnings before interest, tax, depreciation and amortization (EBITDA)2 11,242 21,299 34,092 37,946 35,373
Valuation Ratio
EV/EBITDA3 18.96 6.20 6.02 6.40 8.73
Benchmarks
EV/EBITDA, Competitors4
Advanced Micro Devices Inc. 65.81 22.63 34.19 62.10 82.59
Analog Devices Inc. 15.56 16.23 38.55 23.61 18.67
Applied Materials Inc. 15.75 11.04 17.54 16.82 14.60
Broadcom Inc. 26.42 13.54 19.72 18.89 16.32
First Solar Inc. 11.52 53.82 7.64 12.99 32.49
KLA Corp. 15.67 14.97 19.26 18.10 14.14
Lam Research Corp. 15.36 11.36 16.94 18.35 10.69
Micron Technology Inc. 32.38 3.26 6.05 6.46 3.90
NVIDIA Corp. 95.69 57.58 58.98 52.92 21.08
Qualcomm Inc. 12.82 7.84 12.76 19.49 10.55
Texas Instruments Inc. 16.36 14.69 15.54 21.75 17.73
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment 26.35 14.60 15.47 14.72 11.61
EV/EBITDA, Industry
Information Technology 23.65 18.58 20.64 19.71 14.59

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 See details »

2 See details »

3 2023 Calculation
EV/EBITDA = EV ÷ EBITDA
= 213,159 ÷ 11,242 = 18.96

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. Intel Corp. EV/EBITDA ratio increased from 2021 to 2022 and from 2022 to 2023.