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Arphra AIPlain-English read on Intel Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $79.02B | $63.05B | $54.23B | $53.1B | $52.85B | $58.45B | $64.71B | $71.37B | $77.04B |
| Cost of revenue | $35.21B | $36.19B | $32.52B | $35.76B | $34.48B | $37.01B | $40.44B | $45.61B | $50.44B |
| Gross profit | $43.82B | $26.87B | $21.71B | $17.35B | $18.38B | $21.03B | $22.5B | $26.14B | $27.87B |
| Gross margin | +55.45% | +42.61% | +40.04% | +32.66% | +34.77% | +35.98% | +34.76% | +36.62% | +36.17% |
| Operating | |||||||||
| Research & development | $15.19B | $17.53B | $16.05B | $16.55B | $13.77B | $16.44B | $18.23B | $20.09B | $21.9B |
| Selling, general & administrative | $6.54B | $7B | $5.63B | $5.51B | $4.61B | $5.57B | $6.21B | $7.21B | $7.58B |
| Total operating expenses | $24.36B | $24.53B | $21.68B | $29.02B | $18.4B | $25.68B | $27.15B | $31.46B | $32.8B |
| Operating income | $19.46B | $2.33B | $93M | -$11.68B | -$23M | -$4.33B | -$4.69B | -$5.22B | -$5.53B |
| Operating margin | +24.62% | +3.70% | +0.17% | -21.99% | -0.04% | -7.41% | -7.25% | -7.31% | -7.18% |
| EBITDA | $33.87B | $21.3B | $11.24B | $1.2B | $14.35B | $9.93B | $10.82B | $12.05B | $13.26B |
| EBIT | $22.08B | $8.26B | $1.64B | -$10.18B | $2.65B | -$2.12B | -$2.41B | -$2.59B | -$2.92B |
| Below the line | |||||||||
| Interest expense | $597M | $496M | $878M | $824M | $1.09B | $1.04B | $1.11B | $1.28B | $1.33B |
| Interest income | $144M | $589M | $1.34B | $1.81B | $1.01B | $1.54B | $1.68B | $1.87B | $1.94B |
| Other income / expense | $2.25B | $5.43B | $669M | $468M | $1.58B | — | — | — | — |
| Pre-tax income | $21.7B | $7.77B | $762M | -$11.21B | $1.56B | -$3.18B | -$3.57B | -$3.96B | -$4.42B |
| Income tax expense | $1.84B | -$249M | -$913M | $8.02B | $1.53B | — | — | — | — |
| Earnings | |||||||||
| Net income | $19.87B | $8.01B | $1.69B | -$18.76B | -$267M | -$6.52B | -$7.04B | -$7.74B | -$8.49B |
| Net income · continuing ops | $19.87B | $8.02B | $1.68B | -$19.23B | $26M | -$6.26B | -$7.19B | -$7.73B | -$8.59B |
| Net margin | +25.14% | +12.71% | +3.11% | -35.32% | -0.51% | -11.16% | -10.88% | -10.84% | -11.03% |
| EPS · basic | $4.89 | $1.95 | $0.40 | $-4.38 | $-0.06 | $1.08 | $1.50 | $2.14 | $2.58 |
| EPS · diluted | $4.86 | $1.94 | $0.40 | $-4.38 | $-0.06 | $1.08 | $1.50 | $2.14 | $2.59 |
| EPS · low estimate | — | — | — | — | — | $0.98 | $0.98 | $0.71 | $2.29 |
| EPS · high estimate | — | — | — | — | — | $1.25 | $2.31 | $3.33 | $2.97 |
| Shares · basic | 4.06B | 4.11B | 4.19B | 4.28B | 4.86B | 4.89B | 4.84B | 4.85B | 4.85B |
| Shares · diluted | 4.09B | 4.12B | 4.21B | 4.28B | 4.86B | 4.84B | 4.9B | 4.9B | 4.9B |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 31 | 31 | 21 | 19 |
| Analysts (EPS) | — | — | — | — | — | 23 | 24 | 10 | 6 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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