INTEL CORPINTC
INTEL CORP Financial Overview 2021–2025
Updated Jul 10, 2026Intel’s staggering $18.8 billion net loss in FY2024 highlights the brutal financial toll of its corporate turnaround. The company is actively cannibalizing near-term profitability, halting dividends, and shedding assets to finance a high-risk transition toward a third-party foundry model and regain semiconductor process leadership.
This financial deterioration anchors a difficult multi-year arc. Earnings swung violently from a positive $4.86 per share in FY2021 to a loss of $-0.06 per share in FY2025. Top-line revenue mirrored this decline, dropping from $79.0 billion in FY2021 to $53.1 billion in FY2024. To force a recovery, Intel poured massive capital into its manufacturing infrastructure, deploying $25.1 billion in capital expenditures and $16.5 billion in R&D during FY2024. The ensuing cash strain forced the suspension of its dividend in Q4 2024 and triggered aggressive cost-cutting, including a 16,500 headcount reduction and the divestiture of a 51% stake in its Altera subsidiary.
These heavy outlays severely compressed operational efficiency, with gross margins collapsing from 55.4% in FY2021 to 36.9% by Q1 2025. To fund its cash burn, Intel absorbed massive equity dilution, securing an $8.87 billion CHIPS Act disbursement and executing a $5.0 billion private stock placement with NVIDIA. The market has aggressively repriced this capital-intensive rebuild. At the close of FY2025, the stock traded at $36.20 per share, commanding a $180.8 billion market cap as investors weigh the ongoing risks of an unproven strategic pivot.
Recent Developments (Q4 2025 and Q1 2026)
Intel began Q1 2026 by repurchasing a 49% stake in Fab 34 for $14.2 billion to consolidate its manufacturing base. Despite supply constraints, revenue rose 7.2% year-over-year to $13.6 billion on higher average selling prices. The company posted a $3.73 billion net loss, driven by a $3.9 billion goodwill impairment for Mobileye. Leadership changes occurred concurrently, with Dr. Craig H. Barratt appointed Board Chair and CFO David Zinsner assuming Chief Accounting Officer duties.
Bulls contend that higher average selling prices and sole ownership of Fab 34 position the foundry segment for revenue expansion. Bears warn that persistent wafer shortages and uncommitted external demand for the Intel 14A node risk stalling the turnaround. The stock appears richly valued relative to its unprofitability, trading at a negative -1375.7x earnings as of the April 24, 2026 reporting date.
What to watch: external customer commitments for Intel 14A; resolution of wafer supply bottlenecks.
Rev
$52.85B
FY2025
NI
$-267.0M
FY2025
EPS
$-0.06
FY2025
OCF
$9.70B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
INTEL CORP 8-K Report, Shareholder Vote Results (May 15, 2026)
Intel Corporation (INTC) filed an 8-K on May 15, 2026, detailing the results of its Annual Meeting of Stockholders held on May 13, 2026. The meeting saw strong participation, with 79.11% of outstanding shares represented. All 11 director nominees were elected, indicating continued confidence in the company's leadership. Furthermore, key proposals such as the ratification of the independent registered public accounting firm, advisory approval of executive compensation (Say-On-Pay), and amendments to the company's equity incentive and employee stock purchase plans were overwhelmingly approved by shareholders. However, several stockholder proposals did not receive majority support. Specifically, proposals requesting a report on the risk of China exposure, a report on Intel's human rights due diligence process, and the separation of the Chair and CEO roles were all voted down by a significant margin. These results suggest that while shareholders are supportive of the company's operational and governance structures, they are not currently in favor of implementing the specific changes or additional disclosures requested by these particular proposals.
INTEL CORP 8-K Report, Corporate Update (Apr 30, 2026)
Intel Corporation (INTC) has announced the issuance of $6.5 billion in aggregate principal amount of senior notes through an offering that closed on April 30, 2026. The notes comprise multiple tranches with varying interest rates and maturity dates, ranging from 4.650% due in 2031 to 6.200% due in 2066. The net proceeds from this significant debt offering are approximately $6.47 billion, before accounting for expenses. This substantial capital raise indicates Intel's strategy to secure funding for its operational and strategic initiatives. Investors should note the diversification of maturity dates and coupon rates, reflecting potentially different funding needs or market conditions at the time of issuance. The company has secured this financing under an existing registration statement on Form S-3, utilizing an established indenture framework. This action suggests a proactive approach to managing its capital structure and liquidity, which is crucial for a company investing heavily in research, development, and manufacturing, particularly within the dynamic semiconductor industry.
INTEL CORP 8-K Report, Executive Changes (Apr 24, 2026)
Intel Corporation has announced the immediate resignation of Scott Gawel from his position as Corporate Vice President and Chief Accounting Officer, effective April 24, 2026. Mr. Gawel is departing to pursue a new career opportunity. This leadership change requires a reassessment of the company's financial reporting oversight. In response to Mr. Gawel's departure, David A. Zinsner, the current Executive Vice President and Chief Financial Officer, will assume the responsibilities of the principal accounting officer in addition to his existing duties as principal financial officer. Investors should monitor how this dual role impacts financial reporting processes and disclosures going forward.
INTEL CORP 8-K Report, Financial Results (Apr 23, 2026)
Intel Corporation (INTC) has filed a Form 8-K on April 23, 2026, to report its financial results for the first quarter ended March 28, 2026, and to provide forward-looking statements for the second quarter of 2026. The report primarily references a press release (Exhibit 99.1) that contains detailed financial information and management's outlook. Investors should refer to this press release for specifics on revenue, profitability, and guidance. The company also highlights the use of non-GAAP financial measures within the press release, providing reconciliations to GAAP figures. Management utilizes these non-GAAP measures to offer a more insightful view of operational performance. While valuable, these non-GAAP figures should be considered alongside, not as a replacement for, the company's official GAAP financial statements.
INTEL CORP 8-K Report, Corporate Update (Apr 8, 2026)
Intel Corporation (INTC) has announced a significant strategic move by repurchasing Apollo-managed funds' 49% equity interest in the joint venture related to its Fab 34 facility in Ireland. This transaction, valued at $14.2 billion, was completed on April 8, 2026, and effectively grants Intel 100% ownership of the joint venture. The repurchase was financed using a combination of existing cash on hand and a $6.5 billion bridge loan, with plans to refinance this loan pending market conditions. This move signifies Intel's decision to regain full control over a key manufacturing asset, unwinding a partnership that was established in June 2024. Investors should view this as a step towards greater operational flexibility and potentially more direct strategic control over Fab 34's operations and output. While the immediate financial impact involves a substantial cash outlay and new debt, the long-term implications center on Intel's ability to optimize production and investment at this critical fabrication facility without shared ownership and associated agreements.
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