Stock Analysis on Net
Stock Analysis on Net

Intel Corp. (NASDAQ:INTC)

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin

Microsoft Excel

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

Two-Component Disaggregation of ROE

Intel Corp., decomposition of ROE

Microsoft Excel
ROE = ROA × Financial Leverage
Dec 28, 2024 -18.89% = -9.55% × 1.98
Dec 30, 2023 1.60% = 0.88% × 1.81
Dec 31, 2022 7.90% = 4.40% × 1.80
Dec 25, 2021 20.83% = 11.80% × 1.77
Dec 26, 2020 25.79% = 13.65% × 1.89

Based on: 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26).

The primary reason for the decrease in return on equity ratio (ROE) over 2024 year is the decrease in profitability measured by return on assets ratio (ROA).

Three-Component Disaggregation of ROE

Intel Corp., decomposition of ROE

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Dec 28, 2024 -18.89% = -35.32% × 0.27 × 1.98
Dec 30, 2023 1.60% = 3.11% × 0.28 × 1.81
Dec 31, 2022 7.90% = 12.71% × 0.35 × 1.80
Dec 25, 2021 20.83% = 25.14% × 0.47 × 1.77
Dec 26, 2020 25.79% = 26.84% × 0.51 × 1.89

Based on: 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26).

The primary reason for the decrease in return on equity ratio (ROE) over 2024 year is the decrease in profitability measured by net profit margin ratio.

Five-Component Disaggregation of ROE

Intel Corp., decomposition of ROE

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Dec 28, 2024 -18.89% = — × — × -18.27% × 0.27 × 1.98
Dec 30, 2023 1.60% = 2.18 × 0.47 × 3.05% × 0.28 × 1.81
Dec 31, 2022 7.90% = 1.03 × 0.94 × 13.10% × 0.35 × 1.80
Dec 25, 2021 20.83% = 0.92 × 0.97 × 28.22% × 0.47 × 1.77
Dec 26, 2020 25.79% = 0.83 × 0.98 × 33.01% × 0.51 × 1.89

Based on: 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26).

Two-Component Disaggregation of ROA

Intel Corp., decomposition of ROA

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Dec 28, 2024 -9.55% = -35.32% × 0.27
Dec 30, 2023 0.88% = 3.11% × 0.28
Dec 31, 2022 4.40% = 12.71% × 0.35
Dec 25, 2021 11.80% = 25.14% × 0.47
Dec 26, 2020 13.65% = 26.84% × 0.51

Based on: 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26).

The primary reason for the decrease in return on assets ratio (ROA) over 2024 year is the decrease in profitability measured by net profit margin ratio.

Four-Component Disaggregation of ROA

Intel Corp., decomposition of ROA

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Dec 28, 2024 -9.55% = — × — × -18.27% × 0.27
Dec 30, 2023 0.88% = 2.18 × 0.47 × 3.05% × 0.28
Dec 31, 2022 4.40% = 1.03 × 0.94 × 13.10% × 0.35
Dec 25, 2021 11.80% = 0.92 × 0.97 × 28.22% × 0.47
Dec 26, 2020 13.65% = 0.83 × 0.98 × 33.01% × 0.51

Based on: 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26).

Disaggregation of Net Profit Margin

Intel Corp., decomposition of net profit margin ratio

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Dec 28, 2024 -35.32% = — × — × -18.27%
Dec 30, 2023 3.11% = 2.18 × 0.47 × 3.05%
Dec 31, 2022 12.71% = 1.03 × 0.94 × 13.10%
Dec 25, 2021 25.14% = 0.92 × 0.97 × 28.22%
Dec 26, 2020 26.84% = 0.83 × 0.98 × 33.01%

Based on: 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26).