Intel Corp. (NASDAQ:INTC)

Price to Earnings (P/E) Ratio

The P/E ratio exhibits a generally fluctuating pattern over the observed periods. Initially, it decreased from 12.86 to a low of 7.24 before increasing significantly to 14.54 by the end of 2022. After a gap in data, the ratio spiked dramatically to 109.27 in early 2024, followed by further volatility with values of 33.38 and 94.2. In the latest periods, it reached extremely high levels, peaking at 897.15, indicating considerable valuation swings and potentially significant changes in earnings or market perceptions.

Price to Operating Profit (P/OP) Ratio

The P/OP ratio generally declined from 11.76 to a low near 8.87 before rising sharply to 14.19 and then escalating to 49.91 by the end of 2022. Following this, there is a discontinuity in data, after which the ratio surged to very high levels of 1984.43 and 275.84 in early 2024. Subsequent data for this ratio is missing. The large increases suggest either a sharp decrease in operating profit or a high valuation compared to operating profit during those periods.

Price to Sales (P/S) Ratio

The P/S ratio shows a downward trend from 3.08 in early 2021 to 1.58 in late 2024, indicating a decreasing valuation relative to sales over this period. However, there are some fluctuations, including a rebound to 3.4 in late 2023 followed by subsequent declines and increases. The latest available value rises again to 3.32 in late 2025. This behavior reflects variable market sentiment or changes in sales performance impacting valuation.

Price to Book Value (P/BV) Ratio

The P/BV ratio steadily declined from 3 at the start of 2021 to as low as 0.8 in mid-2024, indicating that the market price became increasingly lower relative to the book value over this period. Thereafter, the ratio displayed some recovery, reaching 1.75 in late 2023, but subsequently decreased again before rising to 1.67 by late 2025. This pattern suggests a period of undervaluation relative to book value with intermittent recoveries.

The financial data reveals several notable trends in key performance indicators over the observed periods.

Share Price

The share price exhibited a general downward trend from early 2021 through late 2024, declining from $59.24 to a low near $19.43. This decline was punctuated by intermittent recoveries, such as in mid-2023 when the price increased to $43.65, and again in mid-2025 reaching $37.24. These fluctuations suggest periods of short-term positive market sentiment amidst a broader downward trajectory.

Earnings per Share (EPS)

EPS showed notable volatility across the timeline. It started strong at $4.61 in the first quarter of 2021, peaking at $6.02 in early 2022. Subsequently, EPS declined sharply, turning negative from early 2023 through 2025, with troughs as low as -$4.68 in mid-2025. Only in a few quarters such as late 2023 and early 2024 does EPS briefly return to positive territory. This pattern indicates significant earnings pressure and challenges in maintaining profitability during the latter periods.

Price-to-Earnings (P/E) Ratio

The P/E ratio decreased from approximately 12.86 in early 2021 to a minimum near 7.24 by early 2022, reflecting initially favorable pricing relative to earnings. However, as EPS turned negative from early 2023 onward, P/E ratios became sporadic and extremely elevated in some quarters, reaching values above 800 at one point. This extreme variability is typical when earnings approach zero or negative and indicates uncertainty or lack of reliable earnings in the valuation model. In some quarters, P/E data is missing, which may correspond to non-positive earnings periods when the ratio is not defined.

Overall, the data highlights a period of declining market valuation and deteriorating profitability, with the company facing earnings challenges over multiple quarters. The share price responded with substantial declines, reflecting investor concerns. Despite occasional quarterly recoveries in share price and EPS, the general financial health appears under pressure based on these key metrics.

Share Price Trend

The share price displayed a general downward trend from March 2021 through December 2022, declining from $59.24 to a low of approximately $28.16. In 2023, the price showed some recovery, rising to a mid-year peak of $43.65 in December 2023. However, from early 2024 through mid-2025, the share price largely fluctuated at lower levels, ranging between $19.43 and $37.24, with a notable increase towards the end of the observed period reaching $37.24.

Operating Profit Per Share Trend

Operating profit per share started at $5.04 in March 2021 and remained relatively stable through mid-2021. Starting late 2021, this metric exhibited a sharp decline, turning negative in April 2023. The losses deepened significantly around late 2024 and continued to be negative through mid-2025, although with some slight reduction in magnitude towards the latest periods.

Price to Operating Profit (P/OP) Ratio

The P/OP ratio experienced a moderate range between approximately 8.87 and 14.19 during the first periods through late 2022. From 2023 onwards, as operating profit per share approached zero and became negative, the ratio values became extremely volatile and significantly elevated, reaching peaks such as 1984.43 and 275.84. These unusually high ratios indicate the difficulty in valuing the company by operating profit due to the negative profitability during this period.

Overall Observations and Insights

There is a clear correlation between the decline in operating profit per share and the share price decrease observed initially. The subsequent fluctuations in share price, despite negative operating profit per share, suggest external factors or market perceptions impacted valuation beyond immediate profitability. The very high and unstable P/OP ratios correspond to periods of negative or near-zero operating profit, highlighting valuation challenges under these conditions. The slight share price recovery towards mid-2025, despite ongoing operating losses, may indicate investor anticipation of improvement or other positive influences.

Share Price Trend

The share price exhibited a general downward trajectory from March 2021 through December 2022, falling from $59.24 to $28.16. Following this period, the price showed some recovery in early 2023, reaching a peak of $43.65 in December 2023, then declined again in the first half of 2024 to a low point of $19.43 in December 2024. After that, there was a stabilization and gradual increase, culminating in a significant rise to $37.24 by September 2025.

Sales Per Share Development

Sales per share demonstrated a consistent decline over the entire period. Starting at $19.25 in March 2021, the value gradually decreased quarter by quarter, dropping below $12 by the end of 2023. This downward trend persisted through 2024 and into 2025, reaching approximately $11.20 in September 2025, indicating a continuous reduction in sales revenue generated per share.

Price-to-Sales Ratio (P/S) Analysis

The P/S ratio mirrored fluctuations in both share price and sales per share. It decreased from 3.08 in March 2021 to a trough of 1.58 in December 2024, corresponding with falling share prices and declining sales per share. Periods of P/S ratio increase, such as the rise to 3.40 in December 2023 and to 3.32 in September 2025, occurred mainly due to recoveries in share price despite steadily declining sales, suggesting an improved market valuation relative to sales at those points.

Overall Insights

The data indicates weakening sales performance per share over the observed timeframe, with a steady decline in sales revenue relative to the number of shares. Share price experienced volatility with a significant initial decline, partial recovery phases, and subsequent fluctuations, reflecting changing investor sentiment or external market factors. The pricing multiples represented by the P/S ratio suggest periods where the market valuation recovered faster than sales performance, possibly signaling optimism or speculative influences at certain intervals. However, the persistent contraction in sales per share might indicate underlying challenges in sales growth or competitive pressures.

The analysis of the quarterly financial data reveals several key trends in the share price, book value per share (BVPS), and price-to-book value (P/BV) ratio over the observed period.

Share Price Trend

The share price shows a general downward trajectory from March 2021 through December 2022, decreasing from $59.24 to approximately $28.16. This decline is followed by a period of moderate recovery and volatility, with the price fluctuating between $31.06 and $43.65 from early 2023 to the end of that year. Subsequently, a notable decrease occurs again throughout much of 2024, reaching a low near $19.43 by December 2024. The price then exhibits some recovery in 2025, climbing back to $37.24 by the third quarter. The pattern highlights a period of initial significant decline, mid-term stabilization with some upward movements, and renewed volatility with partial recovery.

Book Value per Share (BVPS) Movement

BVPS generally trends upward from $19.76 in March 2021 to a peak near $26.95 in mid-2024. Early periods show consistent growth, with occasional minor declines or fluctuations that appear less pronounced than those in share price. From late 2024 onward, the BVPS experiences a slight decline or stagnation, ending near $22.30 by the third quarter of 2025. The steady increase in BVPS during the initial periods suggests underlying asset or equity growth, while the plateau and subsequent dip indicate a moderation in these gains in the later stages.

Price-to-Book Value (P/BV) Ratio Analysis

The P/BV ratio follows the decline in share price relative to BVPS, dropping significantly from a high of 3.0 in early 2021 to lows under 1.0 around mid-2024. This downward trajectory illustrates an erosion of market valuation premium over the company’s book value. Following the low points, the ratio shows signs of recovery, rising above 1.0 in the latter quarters and reaching 1.67 by September 2025. This trend indicates a market reassessment or renewed investor confidence, signaling that the stock price is moving closer to or exceeding book value at the end of the period analyzed.

Overall, the data describe a company facing initial pressure in market valuation reflected by declining share prices and P/BV ratios despite steadily rising book values. The subsequent recovery in share price and P/BV ratio, alongside stabilization or modest decline in BVPS, may suggest changing market conditions, improved investor sentiment, or operational shifts impacting valuation perceptions in the most recent periods.