Intel (INTC) FY2019 results: revenue $72.0 billion, up 1.6% on the year
Intel Corp. (INTC) reported revenue of $72.0 billion for fiscal 2019, the year ended 28 December 2019, up 1.6% on the year before. Net income was $21.0 billion, unchanged, and diluted earnings per share $4.71. The figures are the company's own, from the 10-K it filed with the SEC on 24 January 2020.
Revenue
$72.0 billion
+1.6% on the year
FY2012FY2019
Operating margin
30.6%
32.9% a year earlier
FY2012FY2019
Net income
$21.0 billion
-0.0% on the year
FY2012FY2019
Diluted EPS
$4.71
+5.1% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
71,965
70,848
62,761
+1.6%
Cost of revenue
29,825
27,111
23,692
+10.0%
Gross profit
42,140
43,737
39,069
-3.7%
Gross margin
58.6%
61.7%
62.3%
Research and development
13,362
13,543
13,035
-1.3%
Selling, general and administrative
6,350
6,950
7,452
-8.6%
Operating income
22,035
23,316
18,050
-5.5%
Operating margin
30.6%
32.9%
28.8%
Interest expense
489
468
646
+4.5%
Pre-tax income
24,058
23,317
20,352
+3.2%
Income tax
3,010
2,264
10,751
+33.0%
Effective tax rate
12.5%
9.7%
52.8%
Net income
21,048
21,053
9,601
-0.0%
Net margin
29.2%
29.7%
15.3%
Diluted EPS
$4.71
$4.48
$1.99
+5.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
33,145
29,432
22,110
+12.6%
Capital expenditure
16,213
15,181
11,778
+6.8%
Free cash flow
16,932
14,251
10,332
+18.8%
Free cash flow margin
23.5%
20.1%
16.5%
Cash from investing
-14,405
-11,239
-15,762
Cash from financing
-17,565
-18,607
-8,475
Depreciation and amortisation
200
200
177
0.0%
Share-based compensation
1,705
1,546
1,358
+10.3%
Buybacks
13,576
10,730
3,615
+26.5%
Dividends paid
5,576
5,541
5,072
+0.6%
Diluted shares, weighted
4,473m
4,701m
4,835m
-4.9%
Shares outstanding at period end
4,290m
4,516m
4,687m
-5.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
77,504
74,563
69,653
+3.9%
Redeemable equity
155
419
866
-63.0%
Debt
29,003
26,359
26,776
+10.0%
Other liabilities
29,862
26,622
25,954
+12.2%
Total liabilities and equity
136,524
127,963
123,249
+6.7%
Fixed assets
55,386
48,976
41,109
+13.1%
Goodwill
26,276
24,513
24,389
+7.2%
Intangible assets
10,827
11,836
12,745
-8.5%
Investments
4,358
6,176
5,526
-29.4%
Trading assets
7,847
5,843
8,755
+34.3%
Cash and equivalents
4,194
3,019
3,433
+38.9%
Receivables
7,659
6,722
5,607
+13.9%
Inventory
8,744
7,253
6,983
+20.6%
Other assets
11,233
13,625
14,702
-17.6%
Total assets
136,524
127,963
123,249
+6.7%
10-K for the year ended 28 December 2019, filed 24 January 2020: the filing.