Intel Corp. (INTC) Income Statement

30Y historyFree accessUpdated daily

Revenue jumped 25.4% YoY to $16.1B in Q2 2026, with gross margin improving to 41.5% and operating income swinging to a $2.0B profit, yet net loss of -$11.0B and operating margin of 12.3% remain below historical norms.

Annual statement

INTC Income Statement

Intel Corp. (INTC) annual income statement — 30-year revenue, gross profit & net income history

Annual Quarterly

Metric	TTM	Dec'25	Dec'24	Dec'23	Dec'22	Dec'21	Dec'20	Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08	Dec'07	Dec'06	Dec'05	Dec'04	Dec'03	Dec'02	Dec'01	Dec'00	Dec'99	Dec'98	Dec'97	Dec'96

Sales/Revenue	57.03B	52.85B	53.1B	54.23B	63.05B	79.02B	77.87B	71.97B	70.85B	62.76B	59.39B	55.35B	55.87B	52.71B	53.34B	54B	43.62B	35.13B	37.59B	38.33B	35.38B	38.83B	34.21B	30.14B	26.76B	26.54B	33.73B	29.39B	26.27B	25.07B	20.85B
Revenue Growth %	7.47%	-0.47%	-2.08%	-14%	-20.21%	1.49%	8.2%	1.58%	12.89%	5.68%	7.28%	-0.92%	6%	-1.19%	-1.22%	23.79%	24.19%	-6.54%	-1.95%	8.34%	-8.87%	13.5%	13.5%	12.62%	0.85%	-21.31%	14.76%	11.86%	4.8%	20.26%	28.67%
Cost of Goods Sold	34.83B	34.48B	35.76B	32.52B	36.19B	35.21B	34.26B	29.82B	27.11B	23.69B	23.2B	20.68B	20.26B	21.19B	20.19B	20.24B	14.81B	15.57B	16.74B	18.43B	17.16B	15.78B	14.46B	13.05B	13.45B	13.49B	12.65B	11.84B	12.14B	9.95B	9.16B
COGS % of Revenue	-	65.23%	67.34%	59.96%	57.39%	44.55%	43.99%	41.44%	38.27%	37.75%	39.06%	37.35%	36.26%	40.2%	37.85%	37.49%	33.95%	44.31%	44.54%	48.08%	48.51%	40.64%	42.28%	43.29%	50.24%	50.82%	37.51%	40.27%	46.22%	39.67%	43.96%
Gross Profit	22.2B	18.38B	17.34B	21.71B	26.87B	43.81B	43.61B	42.14B	43.74B	39.07B	36.19B	34.68B	35.61B	31.52B	33.15B	33.76B	28.82B	19.56B	20.84B	19.9B	18.22B	23.05B	19.75B	17.09B	13.32B	13.05B	21.08B	17.55B	14.13B	15.13B	11.68B
Gross Margin %	38.93%	34.77%	32.66%	40.04%	42.61%	55.45%	56.01%	58.56%	61.73%	62.25%	60.94%	62.65%	63.74%	59.8%	62.15%	62.51%	66.05%	55.69%	55.46%	51.92%	51.49%	59.36%	57.72%	56.71%	49.76%	49.18%	62.49%	59.73%	53.78%	60.33%	56.04%
Gross Profit Growth %	-	5.94%	-20.11%	-19.19%	-38.68%	0.47%	3.49%	-3.65%	11.95%	7.95%	4.36%	-2.61%	12.97%	-4.92%	-1.8%	17.15%	47.31%	-6.16%	4.72%	9.25%	-20.96%	16.73%	15.51%	28.35%	2.04%	-38.07%	20.07%	24.23%	-6.59%	29.46%	39.23%
Operating Expenses	22.12B	18.4B	29.02B	21.68B	24.53B	24.36B	19.93B	20.11B	20.49B	21.05B	21.43B	20.32B	19.97B	18.99B	18.51B	16.28B	12.9B	13.62B	11.67B	11.4B	12.01B	10.96B	9.62B	9.56B	8.92B	10.6B	10.57B	7.39B	5.58B	5.24B	4.13B
OpEx % of Revenue	-	34.81%	54.66%	39.98%	38.9%	30.82%	25.6%	27.94%	28.93%	33.54%	36.09%	36.71%	35.74%	36.03%	34.71%	30.15%	29.58%	38.77%	31.04%	29.74%	33.95%	28.23%	28.11%	31.7%	33.31%	39.93%	31.35%	25.16%	21.26%	20.89%	19.81%
Selling, General & Admin	4.5B	4.61B	5.51B	5.63B	7B	6.54B	6.18B	6.35B	6.75B	7.47B	8.4B	7.93B	8.14B	8.09B	8.06B	7.67B	6.31B	6.68B	5.46B	5.4B	6.1B	5.69B	4.66B	4.28B	4.33B	4.46B	5.09B	3.87B	3.08B	2.89B	2.32B
SG&A % of Revenue	-	8.72%	10.37%	10.39%	11.1%	8.28%	7.94%	8.82%	9.53%	11.91%	14.14%	14.33%	14.56%	15.34%	15.1%	14.2%	14.46%	19.02%	14.52%	14.09%	17.23%	14.65%	13.62%	14.19%	16.19%	16.82%	15.09%	13.18%	11.71%	11.53%	11.14%
Research & Development	13.19B	13.77B	16.55B	16.05B	17.53B	15.19B	13.56B	13.36B	13.54B	13.1B	12.74B	12.13B	11.54B	10.61B	10.15B	8.35B	6.58B	5.65B	5.72B	5.75B	5.87B	5.14B	4.78B	4.36B	4.03B	3.8B	3.9B	3.11B	2.51B	2.35B	1.81B
R&D % of Revenue	-	26.06%	31.16%	29.59%	27.8%	19.22%	17.41%	18.57%	19.12%	20.87%	21.45%	21.91%	20.65%	20.13%	19.02%	15.46%	15.07%	16.09%	15.22%	15.01%	16.6%	13.25%	13.97%	14.47%	15.07%	14.3%	11.55%	10.59%	9.55%	9.36%	8.67%
Other Operating Expenses	4M	17M	6.97B	0	0	2.63B	198M	393M	156M	476M	67M	108M	94M	-11M	87M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	78M	-23M	-11.68B	93M	2.33B	19.46B	23.68B	22.04B	23.32B	18.05B	13.13B	14B	15.35B	12.29B	14.64B	17.48B	15.91B	5.71B	8.95B	8.22B	5.65B	12.09B	10.13B	7.53B	4.38B	2.26B	10.39B	9.77B	8.38B	9.89B	7.55B
Operating Margin %	0.14%	-0.04%	-21.99%	0.17%	3.7%	24.62%	30.41%	30.62%	32.91%	28.76%	22.11%	25.29%	27.47%	23.32%	27.44%	32.37%	36.48%	16.26%	23.82%	21.43%	15.97%	31.14%	29.61%	24.99%	16.37%	8.5%	30.82%	33.23%	31.89%	39.44%	36.23%
Operating Income Growth %	-	99.8%	-12656.99%	-96.02%	-88%	-17.83%	7.46%	-5.49%	29.17%	37.44%	-6.21%	-8.76%	24.86%	-16.03%	-16.24%	9.84%	178.62%	-36.22%	8.98%	45.36%	-53.25%	19.35%	34.48%	71.91%	94.24%	-78.3%	6.43%	16.57%	-15.25%	30.9%	43.81%
EBITDA	12.46B	11.68B	-299M	9.7B	15.37B	31.25B	35.92B	32.86B	32.4B	26.18B	20.92B	14.27B	15.64B	12.58B	14.95B	17.74B	15.93B	5.75B	13.57B	13.01B	10.56B	16.68B	15.02B	12.6B	9.73B	8.72B	15.23B	13.36B	11.19B	12.08B	9.44B
EBITDA Margin %	21.84%	22.1%	-0.56%	17.88%	24.37%	39.54%	46.13%	45.66%	45.73%	41.71%	35.23%	25.77%	28%	23.87%	28.02%	32.85%	36.52%	16.36%	36.1%	33.95%	29.86%	42.97%	43.9%	41.81%	36.34%	32.88%	45.16%	45.47%	42.58%	48.18%	45.29%
EBITDA Growth %	7177.84%	4007.36%	-103.08%	-36.92%	-50.82%	-13%	9.3%	1.42%	23.77%	25.12%	46.65%	-8.78%	24.31%	-15.82%	-15.74%	11.34%	177.24%	-57.66%	4.27%	23.19%	-36.69%	11.09%	19.17%	29.58%	11.47%	-42.71%	13.96%	19.47%	-7.39%	27.94%	42.38%
D&A (Non-Cash Add-back)	12.38B	11.71B	11.38B	9.6B	13.04B	11.79B	12.24B	10.83B	9.09B	8.13B	7.79B	265M	294M	291M	308M	260M	18M	35M	4.62B	4.8B	4.91B	4.59B	4.89B	5.07B	5.34B	6.47B	4.83B	3.6B	2.81B	2.19B	1.89B
EBIT	-8.71B	2.65B	-10.18B	1.64B	8.26B	22.08B	23.88B	22.43B	23.24B	21B	13.67B	14.36B	15.64B	12.53B	14.96B	17.82B	16.05B	5.71B	7.69B	8.51B	6.21B	12.09B	10.13B	7.54B	4.4B	2.45B	10.5B	10.16B	8.54B	9.89B	7.55B
Net Interest Income	70M	-84M	981M	457M	93M	-453M	-357M	-6M	-30M	-205M	-511M	-213M	-51M	-140M	7M	192M	109M	167M	584M	0	0	0	0	0	0	0	0	0	0	0	0
Interest Income	1.22B	1.01B	1.8B	1.33B	589M	144M	272M	483M	438M	441M	222M	124M	141M	104M	97M	98M	119M	168M	488M	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense	1.15B	1.09B	824M	878M	496M	597M	629M	489M	468M	646M	733M	337M	192M	244M	90M	41M	10M	1M	8M	0	0	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	-9.93B	1.58B	468M	669M	5.43B	2.25B	1.4B	2.02B	1M	2.3B	-197M	210M	454M	320M	235M	304M	781M	-7M	-1.27B	950M	861M	520M	287M	-91M	-178M	-73M	4.75B	1.46B	758M	772M	381M
Pretax Income	-9.85B	1.56B	-11.21B	762M	7.77B	21.7B	25.08B	24.06B	23.32B	20.35B	12.94B	14.21B	15.8B	12.61B	14.87B	17.78B	16.37B	5.7B	7.69B	9.17B	7.07B	12.61B	10.42B	7.44B	4.2B	2.18B	15.14B	11.23B	9.14B	10.66B	7.93B
Pretax Margin %	-17.28%	2.95%	-21.11%	1.41%	12.32%	27.46%	32.21%	33.43%	32.91%	32.43%	21.78%	25.67%	28.28%	23.93%	27.88%	32.93%	37.52%	16.24%	20.45%	23.91%	19.98%	32.48%	30.45%	24.69%	15.71%	8.23%	44.89%	38.2%	34.78%	42.52%	38.06%
Income Tax	1.34B	1.53B	8.02B	-913M	-249M	1.83B	4.18B	3.01B	2.26B	10.75B	2.62B	2.79B	4.1B	2.99B	3.87B	4.84B	4.7B	1.33B	2.39B	2.19B	2.02B	3.95B	2.9B	1.8B	1.09B	892M	4.61B	3.91B	3.07B	3.71B	2.78B
Effective Tax Rate %	-13.59%	98.33%	-71.57%	-119.82%	-3.21%	8.46%	16.66%	12.51%	9.71%	52.83%	20.25%	19.65%	25.93%	23.72%	26.01%	27.21%	28.69%	23.4%	31.15%	23.89%	28.64%	31.29%	27.85%	24.2%	25.86%	40.86%	30.42%	34.86%	33.59%	34.84%	35%
Net Income	-11.29B	-267M	-18.76B	1.69B	8.01B	19.87B	20.9B	21.05B	21.05B	9.6B	10.32B	11.42B	11.7B	9.62B	11.01B	12.94B	11.67B	4.37B	5.29B	6.98B	5.04B	8.66B	7.52B	5.64B	3.12B	1.29B	10.54B	7.31B	6.07B	6.95B	5.16B
Net Margin %	-19.79%	-0.51%	-35.32%	3.11%	12.71%	25.14%	26.84%	29.25%	29.72%	15.3%	17.37%	20.63%	20.95%	18.25%	20.63%	23.97%	26.76%	12.44%	14.08%	18.2%	14.26%	22.31%	21.97%	18.72%	11.65%	4.86%	31.24%	24.89%	23.1%	27.7%	24.74%
Net Income Growth %	44.94%	98.58%	-1210.48%	-78.92%	-59.66%	-4.93%	-0.71%	-0.02%	119.28%	-6.93%	-9.67%	-2.43%	21.66%	-12.59%	-14.97%	10.88%	167.16%	-17.44%	-24.14%	38.3%	-41.78%	15.27%	33.24%	80.98%	141.44%	-87.75%	44.04%	20.53%	-12.63%	34.67%	44.62%
Net Income (Continuing)	-11.19B	26M	-19.23B	1.68B	8.02B	19.87B	20.9B	21.05B	21.05B	9.6B	10.32B	11.42B	11.7B	9.62B	11.01B	12.94B	11.46B	4.37B	5.29B	6.98B	5.04B	8.66B	7.52B	5.64B	3.12B	1.29B	10.54B	7.31B	6.07B	6.95B	5.16B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	15.6B	12.08B	5.76B	4.38B	1.86B	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)	-2.21	-0.06	-4.38	0.40	1.94	4.86	4.94	4.71	4.48	1.99	2.12	2.33	2.31	1.89	2.13	2.39	2.05	0.77	0.92	1.18	0.86	1.40	1.16	0.85	0.46	0.19	1.51	1.05	0.87	0.97	0.73
EPS Growth %	55.76%	98.66%	-1195%	-79.38%	-60.08%	-1.62%	4.88%	5.13%	125.13%	-6.13%	-9.01%	0.87%	22.22%	-11.27%	-10.88%	16.59%	166.23%	-16.3%	-22.03%	37.21%	-38.57%	20.69%	36.47%	84.78%	142.11%	-87.42%	43.81%	20.69%	-10.31%	32.88%	43.14%
EPS (Basic)	-	-0.06	-4.38	0.40	1.95	4.89	4.98	4.77	4.57	2.04	2.18	2.41	2.39	1.94	2.20	2.46	2.10	0.79	0.93	1.20	0.87	1.42	1.17	0.86	0.47	0.19	1.57	1.10	0.91	1.07	0.79
Diluted Shares Outstanding	5.1B	4.86B	4.28B	4.21B	4.12B	4.09B	4.23B	4.47B	4.7B	4.83B	4.88B	4.89B	5.06B	5.1B	5.16B	5.41B	5.7B	5.64B	5.75B	5.94B	5.88B	6.18B	6.49B	6.62B	6.76B	6.88B	6.99B	6.94B	7.03B	7.18B	7.1B
Basic Shares Outstanding	5.1B	4.86B	4.28B	4.19B	4.11B	4.06B	4.2B	4.42B	4.61B	4.7B	4.73B	4.74B	4.9B	4.97B	5B	5.26B	5.55B	5.56B	5.66B	5.82B	5.8B	6.11B	6.4B	6.53B	6.65B	6.79B	6.71B	6.65B	6.67B	6.54B	6.58B
Dividend Payout Ratio	-	-	-	182.83%	74.83%	28.41%	26.64%	26.49%	26.32%	52.83%	47.74%	39.89%	37.67%	46.56%	39.53%	31.89%	30.01%	71.14%	58.58%	37.53%	46%	22.6%	13.6%	9.29%	17.1%	41.67%	4.46%	5%	3.58%	2.59%	2.87%

Key Metrics

Growth RegimeMixed

ProfitabilityWeak

Balance SheetStrained

Cash FlowMixed

Top Statement Risk

Margin compression and execution risk

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q2)

Revenue Inflection Amid AI Hype

Intel's revenue jumped 25.4% year-over-year to $16.1B in Q2 2026, the strongest growth in the series, yet management's forward guidance of $15.8B-$16.8B implies a flat-to-modest trajectory, suggesting the surge may be episodic rather than durable.

The 25.4% growth in Q2 2026 stands in stark contrast to the prior quarters' near-flat or negative growth, indicating a potential inflection driven by AI-related demand. However, the maintained guidance for the next quarter suggests management does not expect this pace to continue, possibly reflecting one-time tailwinds or inventory restocking. Investors should monitor whether this growth is broad-based across segments or concentrated in specific product lines, as the data does not provide segment detail.

Gross Margin Recovery Under Scrutiny

Gross margin improved to 41.5% in Q2 2026 from 27.5% a year earlier, yet remains far below the historical 60% range and peers like AMD (49.5%) and NVDA (71.1%), indicating a structural shift in profitability.

The sequential improvement from 39.4% in Q1 2026 to 41.5% in Q2 2026 suggests better factory utilization or product mix, but the absolute level is still depressed relative to Intel's own history and fabless competitors. This may reflect the high costs of the 'five nodes in four years' roadmap and under-absorption of fixed costs. The sustainability of this margin recovery is questionable given the capital-intensive nature of the business and the ongoing competitive pressures in core segments.

Operating Leverage Reverses Sharply

Operating income swung from a -$3.2B loss in Q2 2025 to a $2.0B profit in Q2 2026, a $5.2B improvement, yet operating margin at 12.3% remains thin and volatile, reflecting high fixed costs and R&D intensity.

The dramatic swing in operating income demonstrates significant operating leverage, but the volatility also highlights the fragility of profitability. R&D expenses have remained relatively stable around $3.2-$3.4B, indicating that the improvement came from revenue growth and gross margin expansion rather than cost cutting. However, with operating margin still below the peer average, Intel appears to be in a period of financial friction where revenue must continue to grow to absorb fixed costs.

Net Losses Masked by One-Time Items

Despite a $2.0B operating profit in Q2 2026, Intel reported a net loss of -$11.0B, implying significant non-operating charges, likely including impairments or write-downs, which raises questions about the quality of reported earnings.

The gap between operating income and net income is substantial, suggesting that non-operating items—possibly asset impairments, restructuring charges, or losses on investments—are heavily impacting the bottom line. This pattern is consistent with prior quarters, such as Q3 2024 when a $9.1B operating loss led to a -$16.6B net loss. Investors should scrutinize the nature of these charges, as they may indicate ongoing structural issues rather than one-time events. The EPS of -$2.16 in Q2 2026, despite a positive operating profit, underscores the magnitude of these below-the-line items.

R&D Discipline Amidst Turnaround

R&D spending has been trimmed from $4.4B in Q1 2024 to $3.4B in Q2 2026, a 23% reduction, while SG&A has been held roughly flat, suggesting management is prioritizing cost control to fund manufacturing investments.

The reduction in R&D as a percentage of revenue (from ~35% to ~21%) may indicate a strategic shift toward more efficient spending, but it also raises concerns about long-term innovation capacity. SG&A has remained stable around $1.0-$1.2B, showing discipline in overhead. However, the absolute level of R&D is still high, and the company's ability to maintain this discipline while executing its complex manufacturing roadmap will be critical. The data suggests that cost management is a key lever in the turnaround, but it may come at the expense of future competitiveness.

Margin Compression Risk Persists

Despite the recent revenue surge, Intel's gross margin of 41.5% remains far below peers like AMD (49.5%) and NVDA (71.1%), and the company's operating margin is barely positive, leaving little room for error if demand softens.

Short-sellers would likely focus on the structural margin gap, which suggests a permanent loss of pricing power in core markets. The company's high fixed-cost base means that any downturn in PC or server demand could quickly push operating margins back into negative territory, as seen in Q2 2025. Additionally, the reliance on government subsidies and the nascent foundry business introduces execution risk that could further pressure margins. The maintained guidance, rather than raised, implies management's own confidence in sustained growth is limited, warranting caution.

INTC — Frequently Asked Questions

Quick answers to the most common questions about buying INTC stock.

What was Intel Corp.'s (INTC) revenue in 2025?

For fiscal year 2025, Intel Corp. (INTC) reported total revenue of $52.85B. This represents a 153.5% increase compared to $20.85B in 1996.

Is Intel Corp. (INTC) profitable?

Intel Corp. (INTC) reported a net loss of $267.0M for the fiscal year ending 2025.

What is Intel Corp.'s operating profit margin?

Intel Corp. (INTC) reported an operating income of $-23.0M, resulting in an operating profit margin of -0.0%. This margin reflects the operational efficiency of the business before interest and taxes.

What is Intel Corp.'s gross profit and gross margin?

Intel Corp. (INTC) generated $18.38B in gross profit for the year, representing a gross profit margin of 34.8%. This demonstrates the company's core pricing power and production efficiency.