Common Stock Valuation Ratios (Price Multiples)
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Current Valuation Ratios
Intel Corp., current price multiples
| Intel Corp. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | KLA Corp. | Lam Research Corp. | Micron Technology Inc. | Monolithic Power Systems Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | Semiconductors & Semiconductor Equipment | Information Technology | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||
| Current share price (P) | $21.08 | ||||||||||||||||
| No. shares of common stock outstanding | 4,362,000,000 | ||||||||||||||||
| Earnings per share (EPS) | $-4.30 | ||||||||||||||||
| Operating profit per share | $-2.68 | ||||||||||||||||
| Sales per share | $12.17 | ||||||||||||||||
| Book value per share (BVPS) | $22.76 | ||||||||||||||||
| Valuation Ratios (Price Multiples) | |||||||||||||||||
| Price to sales (P/S) | 1.73 | 8.06 | 12.02 | 5.00 | 22.80 | 11.46 | 7.77 | 5.50 | 14.88 | 26.90 | 4.26 | 11.51 | 17.87 | 10.93 | |||
| Price to book value (P/BV) | 0.93 | 3.61 | 3.22 | 7.16 | 17.37 | 33.37 | 13.55 | 3.06 | 10.44 | 44.25 | 6.32 | 10.65 | 14.07 | 15.50 | |||
Based on: 10-K (reporting date: 2024-12-28).
If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.
Historical Valuation Ratios (Summary)
Intel Corp., historical price multiples
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).
- Price to Earnings (P/E) Ratio
- The P/E ratio showed a moderate decrease from 11.02 in 2020 to 9.85 in 2021, followed by an increase to 14.54 in 2022. In 2023, there was a sharp spike to 109.27, indicating a substantial rise in stock price relative to earnings or a significant decline in earnings. Data for 2024 is not available.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio remained relatively stable from 9.72 in 2020 to 10.06 in 2021 before dramatically increasing to 49.91 in 2022. The upward trend intensified in 2023, reaching an extremely high 1984.43, suggesting a major imbalance between share price and operating profit, potentially driven by reduced profitability or exceptional market valuation. No data exists for 2024.
- Price to Sales (P/S) Ratio
- The P/S ratio declined steadily over the initial three years, from 2.96 in 2020 to 1.85 in 2022. However, there was a notable uptick to 3.4 in 2023 followed by a decrease to 1.58 in 2024. This pattern indicates fluctuating market valuation relative to sales, with a peak in 2023 suggesting increased price expectations or temporary sales performance improvement.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio exhibited a declining trend from 2.84 in 2020 down to 1.15 in 2022, implying a reduced market premium over book value. In 2023, the ratio recovered to 1.75 before declining sharply to 0.85 in 2024, reflecting a market valuation below book value and potentially signaling investor concerns about asset quality or future growth prospects.
Price to Earnings (P/E)
Intel Corp., historical P/E calculation, comparison to benchmarks
| Dec 28, 2024 | Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 4,330,000,000 | 4,228,000,000 | 4,137,000,000 | 4,072,000,000 | 4,063,000,000 | |
| Selected Financial Data (US$) | ||||||
| Net income (loss) attributable to Intel (in millions) | (18,756) | 1,689) | 8,014) | 19,868) | 20,899) | |
| Earnings per share (EPS)2 | -4.33 | 0.40 | 1.94 | 4.88 | 5.14 | |
| Share price1, 3 | 19.43 | 43.65 | 28.16 | 48.05 | 56.66 | |
| Valuation Ratio | ||||||
| P/E ratio4 | — | 109.27 | 14.54 | 9.85 | 11.02 | |
| Benchmarks | ||||||
| P/E Ratio, Competitors5 | ||||||
| Advanced Micro Devices Inc. | 110.61 | 317.27 | 96.16 | 45.54 | 41.66 | |
| Analog Devices Inc. | 66.48 | 27.14 | 31.21 | 68.31 | 41.43 | |
| Applied Materials Inc. | 19.20 | 19.63 | 13.55 | 22.05 | 22.31 | |
| Broadcom Inc. | 175.56 | 36.78 | 20.70 | 40.73 | 66.38 | |
| KLA Corp. | 34.24 | 20.04 | 16.89 | 25.97 | 25.92 | |
| Lam Research Corp. | 27.05 | 19.26 | 13.77 | 21.03 | 24.23 | |
| Micron Technology Inc. | 145.72 | — | 6.62 | 13.38 | 21.80 | |
| Monolithic Power Systems Inc. | 15.51 | 81.98 | 52.21 | 88.67 | 107.98 | |
| NVIDIA Corp. | 56.68 | 131.70 | 68.08 | 78.54 | 67.59 | |
| Qualcomm Inc. | 18.95 | 17.07 | 9.75 | 17.15 | 28.06 | |
| Texas Instruments Inc. | 34.72 | 22.24 | 18.88 | 20.38 | 27.95 | |
| P/E Ratio, Sector | ||||||
| Semiconductors & Semiconductor Equipment | 76.42 | 48.70 | 23.05 | 24.53 | 25.50 | |
| P/E Ratio, Industry | ||||||
| Information Technology | 44.83 | 35.97 | 26.85 | 29.54 | 31.13 | |
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).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
EPS = Net income (loss) attributable to Intel ÷ No. shares of common stock outstanding
= -18,756,000,000 ÷ 4,330,000,000 = -4.33
3 Closing price as at the filing date of Intel Corp. Annual Report.
4 2024 Calculation
P/E ratio = Share price ÷ EPS
= 19.43 ÷ -4.33 = —
5 Click competitor name to see calculations.
The share price exhibits a fluctuating trend over the observed periods, starting at $56.66 in 2020 and decreasing to $48.05 in 2021. A more notable decline occurs in 2022, dropping to $28.16, followed by a partial recovery to $43.65 in 2023. However, the share price then falls sharply again to $19.43 in 2024, indicating significant volatility and a downward trajectory overall.
Earnings per share (EPS) demonstrate a clear downward trend throughout the period. The EPS value initially declines moderately from $5.14 in 2020 to $4.88 in 2021, then decreases sharply to $1.94 by the end of 2022. The decline continues more dramatically through 2023, with EPS dropping to $0.40, and ultimately becoming negative at -$4.33 in 2024. This progression signals deteriorating profitability and potentially emerging financial challenges.
The price-to-earnings (P/E) ratio shows a complex pattern. It starts relatively low at 11.02 in 2020, decreases slightly to 9.85 in 2021, then rises noticeably to 14.54 in 2022. In 2023, the P/E ratio spikes dramatically to 109.27, reflecting the company's steep EPS decline while the share price recovered somewhat. The P/E ratio for 2024 is not available, likely due to the negative EPS, which makes the ratio undefined or not meaningful in this context.
Overall, the data indicates a company experiencing significant declines in earnings and share price, with increasing volatility. The sharp drop in EPS culminating in a negative figure raises concerns about financial health and operational performance. The elevated P/E ratio in 2023, despite a rising share price, likely results from diminished earnings, suggesting that investor sentiment may have been temporarily optimistic or speculative during that period.
Price to Operating Profit (P/OP)
Intel Corp., historical P/OP calculation, comparison to benchmarks
| Dec 28, 2024 | Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 4,330,000,000 | 4,228,000,000 | 4,137,000,000 | 4,072,000,000 | 4,063,000,000 | |
| Selected Financial Data (US$) | ||||||
| Operating income (loss) (in millions) | (11,678) | 93) | 2,334) | 19,456) | 23,678) | |
| Operating profit per share2 | -2.70 | 0.02 | 0.56 | 4.78 | 5.83 | |
| Share price1, 3 | 19.43 | 43.65 | 28.16 | 48.05 | 56.66 | |
| Valuation Ratio | ||||||
| P/OP ratio4 | — | 1,984.43 | 49.91 | 10.06 | 9.72 | |
| Benchmarks | ||||||
| P/OP Ratio, Competitors5 | ||||||
| Advanced Micro Devices Inc. | 95.53 | 675.69 | 100.42 | 39.48 | 75.77 | |
| Analog Devices Inc. | 53.48 | 23.53 | 26.16 | 56.12 | 33.76 | |
| Applied Materials Inc. | 17.52 | 17.58 | 11.35 | 18.85 | 18.50 | |
| Broadcom Inc. | 76.87 | 31.96 | 16.33 | 30.78 | 44.04 | |
| KLA Corp. | 28.26 | 16.99 | 15.36 | 21.69 | 20.99 | |
| Lam Research Corp. | 24.29 | 16.79 | 11.79 | 18.34 | 20.40 | |
| Micron Technology Inc. | 86.94 | — | 5.93 | 12.48 | 19.51 | |
| Monolithic Power Systems Inc. | 51.38 | 72.73 | 43.38 | 81.78 | 111.71 | |
| NVIDIA Corp. | 51.16 | 136.19 | 66.12 | 75.08 | 66.40 | |
| Qualcomm Inc. | 19.08 | 15.85 | 7.95 | 15.84 | 23.32 | |
| Texas Instruments Inc. | 30.49 | 19.75 | 16.29 | 17.67 | 26.53 | |
| P/OP Ratio, Sector | ||||||
| Semiconductors & Semiconductor Equipment | 54.96 | 44.88 | 21.44 | 22.29 | 22.63 | |
| P/OP Ratio, Industry | ||||||
| Information Technology | 34.92 | 29.96 | 22.79 | 26.09 | 26.95 | |
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).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
Operating profit per share = Operating income (loss) ÷ No. shares of common stock outstanding
= -11,678,000,000 ÷ 4,330,000,000 = -2.70
3 Closing price as at the filing date of Intel Corp. Annual Report.
4 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 19.43 ÷ -2.70 = —
5 Click competitor name to see calculations.
The financial data exhibits significant volatility and concerning trends over the observed periods.
- Share Price
- The share price shows a declining trend overall, dropping from $56.66 in 2020 to $19.43 in 2024. There is a noticeable drop between 2021 ($48.05) and 2022 ($28.16), followed by a partial recovery in 2023 ($43.65), and then a sharp decline again in 2024.
- Operating Profit Per Share (OPPS)
- Operating profit per share steadily decreases from $5.83 in 2020 to a negative $2.70 by 2024. The decline accelerates after 2021, with a steep drop to $0.56 in 2022, barely positive at $0.02 in 2023, and turning negative in the final year, signaling operational challenges and possible losses.
- Price to Operating Profit Ratio (P/OP)
- The ratio remains relatively stable around 10 in 2020 and 2021, but rises dramatically to 49.91 in 2022 and explodes to 1984.43 in 2023, reflecting the collapsing operating profit per share while share price does not fall proportionally. The absence of data for 2024 prevents further analysis.
Overall, the data suggests deteriorating profitability and investor confidence, marked by declining earnings and share price. The extremely high P/OP ratio in 2023 signals severe earnings distress and increased market valuation uncertainty relative to operating profits. The return to a lower share price in 2024, alongside negative operating profit per share, underscores ongoing financial and operational difficulties.
Price to Sales (P/S)
Intel Corp., historical P/S calculation, comparison to benchmarks
| Dec 28, 2024 | Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 4,330,000,000 | 4,228,000,000 | 4,137,000,000 | 4,072,000,000 | 4,063,000,000 | |
| Selected Financial Data (US$) | ||||||
| Net revenue (in millions) | 53,101) | 54,228) | 63,054) | 79,024) | 77,867) | |
| Sales per share2 | 12.26 | 12.83 | 15.24 | 19.41 | 19.16 | |
| Share price1, 3 | 19.43 | 43.65 | 28.16 | 48.05 | 56.66 | |
| Valuation Ratio | ||||||
| P/S ratio4 | 1.58 | 3.40 | 1.85 | 2.48 | 2.96 | |
| Benchmarks | ||||||
| P/S Ratio, Competitors5 | ||||||
| Advanced Micro Devices Inc. | 7.04 | 11.95 | 5.38 | 8.76 | 10.63 | |
| Analog Devices Inc. | 11.53 | 7.31 | 7.14 | 12.98 | 9.03 | |
| Applied Materials Inc. | 5.07 | 5.08 | 3.43 | 5.63 | 4.69 | |
| Broadcom Inc. | 20.07 | 14.46 | 7.00 | 9.55 | 7.40 | |
| KLA Corp. | 9.64 | 6.47 | 6.09 | 7.80 | 5.43 | |
| Lam Research Corp. | 6.95 | 4.99 | 3.68 | 5.62 | 5.43 | |
| Micron Technology Inc. | 4.51 | 4.94 | 1.87 | 2.83 | 2.73 | |
| Monolithic Power Systems Inc. | 12.56 | 19.24 | 12.74 | 17.77 | 21.02 | |
| NVIDIA Corp. | 27.69 | 21.33 | 24.67 | 20.41 | 17.31 | |
| Qualcomm Inc. | 4.93 | 3.45 | 2.85 | 4.62 | 6.20 | |
| Texas Instruments Inc. | 10.65 | 8.26 | 8.25 | 8.63 | 10.81 | |
| P/S Ratio, Sector | ||||||
| Semiconductors & Semiconductor Equipment | 11.75 | 8.33 | 5.86 | 6.30 | 5.85 | |
| P/S Ratio, Industry | ||||||
| Information Technology | 9.29 | 7.33 | 6.02 | 6.97 | 6.11 | |
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).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
Sales per share = Net revenue ÷ No. shares of common stock outstanding
= 53,101,000,000 ÷ 4,330,000,000 = 12.26
3 Closing price as at the filing date of Intel Corp. Annual Report.
4 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 19.43 ÷ 12.26 = 1.58
5 Click competitor name to see calculations.
The analysis of the financial data reveals a fluctuating yet generally downward trend in key performance indicators over the five-year period evaluated. The share price demonstrates overall volatility with a clear decline from $56.66 in late 2020 to $19.43 by the end of 2024. Notably, the share price decreased substantially in 2022 and again in 2024, although a temporary recovery is observed in 2023.
Sales per share also show a decreasing trend, starting at $19.16 in 2020 and dropping steadily each year to reach $12.26 in 2024. This decline in sales per share indicates diminishing revenue generation per share, highlighting potential challenges in sales performance or market demand.
The Price-to-Sales (P/S) ratio presents a somewhat irregular pattern. Beginning at 2.96 in 2020, the ratio declined to a low of 1.58 in 2024, with fluctuations in between, including a notable increase to 3.4 in 2023. This movement suggests variability in market valuation relative to sales, reflecting changes in investor sentiment or market conditions affecting the stock price more than consistent sales performance alone.
- Share Price
- Declined from $56.66 in 2020 to $19.43 in 2024, with a noticeable dip in 2022 and 2024 and a partial rebound in 2023.
- Sales per Share
- Consistently decreased from $19.16 in 2020 to $12.26 in 2024, indicating lower revenue per share over time.
- Price-to-Sales Ratio (P/S)
- Fell overall from 2.96 in 2020 to 1.58 in 2024, but exhibited fluctuations including a peak at 3.4 in 2023, suggesting variability in market valuation relative to sales.
Price to Book Value (P/BV)
Intel Corp., historical P/BV calculation, comparison to benchmarks
| Dec 28, 2024 | Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 4,330,000,000 | 4,228,000,000 | 4,137,000,000 | 4,072,000,000 | 4,063,000,000 | |
| Selected Financial Data (US$) | ||||||
| Total Intel stockholders’ equity (in millions) | 99,270) | 105,590) | 101,423) | 95,391) | 81,038) | |
| Book value per share (BVPS)2 | 22.93 | 24.97 | 24.52 | 23.43 | 19.95 | |
| Share price1, 3 | 19.43 | 43.65 | 28.16 | 48.05 | 56.66 | |
| Valuation Ratio | ||||||
| P/BV ratio4 | 0.85 | 1.75 | 1.15 | 2.05 | 2.84 | |
| Benchmarks | ||||||
| P/BV Ratio, Competitors5 | ||||||
| Advanced Micro Devices Inc. | 3.15 | 4.85 | 2.32 | 19.21 | 17.77 | |
| Analog Devices Inc. | 3.09 | 2.53 | 2.35 | 2.50 | 4.22 | |
| Applied Materials Inc. | 7.25 | 8.23 | 7.25 | 10.60 | 7.63 | |
| Broadcom Inc. | 15.29 | 21.59 | 10.23 | 10.50 | 7.40 | |
| KLA Corp. | 28.07 | 23.25 | 40.05 | 15.98 | 11.83 | |
| Lam Research Corp. | 12.13 | 10.58 | 10.10 | 13.64 | 10.55 | |
| Micron Technology Inc. | 2.51 | 1.74 | 1.15 | 1.79 | 1.50 | |
| Monolithic Power Systems Inc. | 8.81 | 17.09 | 13.69 | 17.25 | 18.36 | |
| NVIDIA Corp. | 39.25 | 26.03 | 24.95 | 20.14 | 15.49 | |
| Qualcomm Inc. | 7.31 | 5.72 | 7.00 | 15.59 | 24.00 | |
| Texas Instruments Inc. | 9.86 | 8.57 | 11.33 | 11.87 | 17.02 | |
| P/BV Ratio, Sector | ||||||
| Semiconductors & Semiconductor Equipment | 9.25 | 6.50 | 5.22 | 6.29 | 6.21 | |
| P/BV Ratio, Industry | ||||||
| Information Technology | 13.17 | 11.47 | 10.47 | 12.50 | 11.10 | |
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).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
BVPS = Total Intel stockholders’ equity ÷ No. shares of common stock outstanding
= 99,270,000,000 ÷ 4,330,000,000 = 22.93
3 Closing price as at the filing date of Intel Corp. Annual Report.
4 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 19.43 ÷ 22.93 = 0.85
5 Click competitor name to see calculations.
The analysis of the annual financial data reveals several notable trends and shifts across the periods from December 26, 2020, to December 28, 2024. The share price experienced a significant decline overall, dropping from $56.66 in 2020 to $19.43 in 2024. However, this trajectory was not linear; there was an initial decrease through 2021 and 2022, followed by a partial recovery in 2023 before falling again sharply in 2024.
In contrast, the book value per share (BVPS) shows a generally stable and slightly increasing pattern over the same periods. Starting at $19.95 in 2020, it rose steadily to peak at $24.97 by the end of 2023, then experienced a small decline to $22.93 in 2024. This stability in BVPS suggests consistent underlying asset values despite the volatility seen in the share price.
The price-to-book value ratio (P/BV) reflects the interplay between market valuation and book value. It started at a relatively high 2.84 in 2020, indicating the market price was nearly three times the book value, suggesting high investor confidence or growth expectations at that time. This ratio then declined substantially to 1.15 in 2022, reflecting a significant reduction in market valuation relative to book value. In 2023, there was a rebound to 1.75, but the ratio dropped again in 2024 to 0.85, falling below 1, which implies that the market price has fallen below the book value per share.
Overall, the data indicate a clear downward trend in market optimism or investor confidence in the company's stock price, especially evident in the sharp decline of the share price and the P/BV ratio over the five years. Meanwhile, the relatively steady BVPS suggests that the company's book assets have held value relatively well, which could imply that the decline in share price is influenced more by market sentiment or external factors rather than a deterioration in asset base.