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$89.47
Market Capi
$470B
Growth-adj P/E (3-yr hist)i
n/a
Growth-adj P/E (3-yr proj)i
n/a
P/S 26Ei
7.5x
P/S 28Ei
5.7x
EV/EBIT 26Ei
51x
EV/EBIT 28Ei
26x
P/E 26Ei
-39x
P/E 28Ei
44x
P/S 26Ei
7.5x
EV/EBIT 26Ei
51x
P/E 26Ei
-39x
P/S 28Ei
5.7x
EV/EBIT 28Ei
26x
P/E 28Ei
44x
Revenue
2026E
$59B
Gross Margini
37%
Hist. CAGRi
-5.7%
Proj. CAGRi
11%
EBIT
2026E
$7.3B
Op. Margini
1.8%
Hist. CAGRi
-27%
Proj. CAGRi
144%
Net profit
2026E
$-1.7B
Net Margini
-0.5%
Hist. CAGRi
—
Proj. CAGRi
—
Business Model
Recent Developments
Average Targeti
$115.17+14%
Consensusi
Outperform
47 analysts covering
Net debti
$23B
Div. Yieldi
n/a
Dilutioni
11%
Market Capi
$470B
P/E 26Ei
-39x
Adj. P/E (fwd.)i
—
Revenue 26E
$59B
Proj. CAGRi
11%
Gross Margini
37%
EBIT 26E
$7.3B
Proj. CAGRi
144%
Op. Margini
1.8%
Net Profit 26E
$-1.7B
Proj. CAGRi
—
Net Margini
-0.5%
Average Targeti
$115.17+14%
Consensusi
Outperform
47 analysts covering
Profile
Intel designs and manufactures semiconductor products spanning CPUs, AI accelerators, networking silicon, and contract wafer manufacturing. The company operates two primary revenue streams that are increasingly being managed as distinct businesses:
Industry
Intel sells primarily to OEM PC makers (HP, Dell, Lenovo), hyperscalers (Microsoft Azure, Amazon AWS, Google), and enterprise data center operators. Geographic concentration is notable: the US and China together represent over half of net sales, with Singapore and Taiwan adding further Asia-Pacific exposure. The semiconductor market is deeply cyclical, with server and data center spending subject to enterprise capex cycles. Foundry customers — currently Microsoft, Amazon, and potentially Apple — operate under long-term agreements and represent a newer, higher-stakes revenue category.
Key metrics
Economic moat
Intel's structural advantages are concentrated in manufacturing scale and x86 architecture lock-in. The x86 ISA underpins virtually all enterprise server and PC workloads, creating deep software ecosystem switching costs that AMD shares but no other competitor has meaningfully penetrated. Intel is one of only three companies globally capable of producing leading-edge logic at volume — alongside TSMC and Samsung — giving it rare leverage in advanced packaging and process R&D. Government backing (CHIPS Act subsidies) and existing fab infrastructure in the US and Europe provide a geopolitical moat that fabless competitors cannot replicate. The foundry business, if successful, would extend these advantages to external customers.
Lip-Bu Tan
Tan became CEO in March 2025, taking over a company in significant operational distress after Pat Gelsinger's departure. He previously ran Cadence Design Systems from 2009 to 2021, where he oversaw a turnaround that tripled revenue and produced more than 3,200% stock appreciation — a track record that directly informed his hire. He also previously served on Intel's board from 2022 to 2024, giving him unusual insider context before formally taking the role. His restructuring agenda centres on financial discipline, foundry customer acquisition, and rebuilding the engineering culture that let competitors close Intel's manufacturing lead.
David Zinsner
Zinsner has served as CFO since late 2024 and has been one of the architects of Intel's cost reduction programme, including the roughly 15% workforce reduction that targeted bringing headcount from ~96,000 to approximately 75,000 by end of 2025. He has publicly flagged advanced packaging as a multi-billion-dollar revenue opportunity per customer, framing it as Intel's near-term foundry differentiator while leading-edge node yields mature.
Naga Chandrasekaran
Chandrasekaran joined as COO in July 2024 from Micron Technology, where he served as Group President of Technology and Products. His manufacturing and process technology background is directly relevant to Intel's core operational challenge: improving fab yields and execution reliability on 18A and subsequent nodes.
Other key figures
Pushkar Ranade (CTO since December 2025) and Cynthia Stoddard (Chief Information Officer since November 2025) round out the leadership bench that Tan has assembled. Both are recent additions, reflecting the broader executive refresh underway as Intel attempts to reorient around process technology excellence and AI infrastructure.
P/S Ratioi
EV/EBITiEV/EBIT values for 2024 were omitted from this chart because negative or above 250x values usually occur around break-even earnings and would distort the scale. The raw values remain in the table below.
P/E RatioiP/E values for 2024, 2025, and 2026E were omitted from this chart because negative or above 150x values usually occur around break-even earnings and would distort the scale. The raw values remain in the table below.
Revenue
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
EBITEBIT year-over-year growth labels for 2025 are hidden because the prior comparison year is missing, zero, or negative. Growth rates from missing or non-positive bases are not meaningful.
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Net profitNet profit year-over-year growth labels for 2025, 2026E, and 2027E are hidden because the prior comparison year is missing, zero, or negative. Growth rates from missing or non-positive bases are not meaningful.
CAGR (hist. 3-yr)i
n/a
CAGR (proj. 3-yr)i
n/a
Values in billions of USD.
Operating cashflow · Levered Free Cash Flow
Free Cash FlowFree cash flow year-over-year growth labels for 2023, 2024, 2025, 2026E, and 2027E are hidden because the prior comparison year is missing, zero, or negative. Growth rates from missing or non-positive bases are not meaningful.
CAPEX
Values in billions of USD.
Margins
Rentability
Balance sheet
Values in billions of USD.
Liquidity ratios
Debt-to-Equity-Ratio
Last earnings
Q2 2026 revenue reached $16.1 billion, up 25% year-over-year — Intel's fastest growth since 2011 and above consensus estimates.
Non-GAAP EPS came in at $0.42, a swing from a year-ago loss, while GAAP EPS showed a $(2.16) loss tied to one-time charges.
The data center segment led, with revenue up 59% to $6.3 billion, as the foundry unit grew 31% to $5.8 billion and narrowed its operating loss.
Management guided next quarter to $15.8–$16.8 billion in revenue, a seventh straight quarter of results beating the company's own targets.
Recent developments
On July 21, 2026, Fortinet became Intel Foundry's first named external customer, agreeing to manufacture its next-generation Security Processor 6 on the Intel 4 process.
The deal, the first named foundry win under the current CEO, is seen as an early signal that outside chipmakers will trust Intel's advanced nodes with production volume.
On August 10, 2026, Intel launched a proposed $15 billion stock offering, with proceeds earmarked for capital expenditures and working capital to fund AI-driven capacity expansion while preserving an investment-grade balance sheet.
Debate & sentiment
Bulls cite broad growth across all three segments and margins expanding well beyond guidance as evidence that AI-linked compute demand is now driving the business.
Bears argue that after its outsized run, valuation multiples look stretched, leaving the stock priced for continued foundry delivery rather than a still-unproven turnaround.
The foundry unit remains unprofitable despite growth, making the pace of converting named wins like Fortinet into recurring external volume the key swing factor.
Investors are watching for a marquee external commitment on a leading-edge node later in 2026 as the clearest validation of the turnaround thesis.
Consensusi
Outperform
Average targeti
$115.17+14%
Highest targeti
$200.00+98%
Lowest targeti
$74.00-27%
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