Intel (INTC) FY2020 results: revenue $77.9 billion, up 8.2% on the year
Intel Corp. (INTC) reported revenue of $77.9 billion for fiscal 2020, the year ended 26 December 2020, up 8.2% on the year before. Net income was $20.9 billion, down 0.7%, and diluted earnings per share $4.94. The figures are the company's own, from the 10-K it filed with the SEC on 22 January 2021.
Revenue
$77.9 billion
+8.2% on the year
FY2013FY2020
Operating margin
30.4%
30.6% a year earlier
FY2013FY2020
Net income
$20.9 billion
-0.7% on the year
FY2013FY2020
Diluted EPS
$4.94
+4.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
77,867
71,965
70,848
+8.2%
Cost of revenue
34,255
29,825
27,111
+14.9%
Gross profit
43,612
42,140
43,737
+3.5%
Gross margin
56.0%
58.6%
61.7%
Research and development
13,556
13,362
13,543
+1.5%
Selling, general and administrative
6,180
6,350
6,950
-2.7%
Operating income
23,678
22,035
23,316
+7.5%
Operating margin
30.4%
30.6%
32.9%
Interest expense
629
489
468
+28.6%
Pre-tax income
25,078
24,058
23,317
+4.2%
Income tax
4,179
3,010
2,264
+38.8%
Effective tax rate
16.7%
12.5%
9.7%
Net income
20,899
21,048
21,053
-0.7%
Net margin
26.8%
29.2%
29.7%
Diluted EPS
$4.94
$4.71
$4.48
+4.9%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
35,864
33,145
29,432
+8.2%
Capital expenditure
14,259
16,213
15,181
-12.1%
Free cash flow
21,605
16,932
14,251
+27.6%
Free cash flow margin
27.7%
23.5%
20.1%
Cash from investing
-21,524
-14,405
-11,239
Cash from financing
-12,669
-17,565
-18,607
Depreciation and amortisation
12,239
200
200
+6,019.5%
Share-based compensation
1,854
1,705
1,546
+8.7%
Buybacks
14,229
13,576
10,730
+4.8%
Dividends paid
5,568
5,576
5,541
-0.1%
Diluted shares, weighted
4,232m
4,473m
4,701m
-5.4%
Shares outstanding at period end
4,062m
4,290m
4,516m
-5.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
81,038
77,504
74,563
+4.6%
Redeemable equity
0.0
155
419
Debt
36,401
29,003
26,359
+25.5%
Other liabilities
35,652
29,862
26,622
+19.4%
Total liabilities and equity
153,091
136,524
127,963
+12.1%
Fixed assets
56,584
55,386
48,976
+2.2%
Goodwill
26,971
26,276
24,513
+2.6%
Intangible assets
9,026
10,827
11,836
-16.6%
Investments
4,484
4,358
6,176
+2.9%
Trading assets
15,738
7,847
5,843
+100.6%
Cash and equivalents
5,865
4,194
3,019
+39.8%
Receivables
6,782
7,659
6,722
-11.5%
Inventory
8,427
8,744
7,253
-3.6%
Other assets
19,214
11,233
13,625
+71.0%
Total assets
153,091
136,524
127,963
+12.1%
10-K for the year ended 26 December 2020, filed 22 January 2021: the filing.