Intel Corp. (NASDAQ:INTC)

Over the observed period, the company’s solvency ratios demonstrate a generally increasing trend in leverage, followed by a stabilization and slight decrease in the most recent quarters. These ratios suggest a growing reliance on debt financing, peaking in late 2024, before showing modest improvement. The analysis below details the trends for each ratio individually.

Debt to Equity Ratio

The debt to equity ratio exhibited a gradual increase from 0.36 in April 2022 to 0.52 in June 2025. The most significant increase occurred between April 2023 and December 2024, rising from 0.51 to 0.52. A slight decline is then observed in the final two quarters, ending at 0.44 in September 2025 and 0.41 in December 2025. This indicates an increasing proportion of financing derived from debt relative to equity, with a recent moderation of that trend.

Debt to Capital Ratio

Similar to the debt to equity ratio, the debt to capital ratio generally increased from 0.27 in April 2022 to 0.34 in June 2025. The rise was consistent, though relatively modest, throughout most of the period. The ratio peaked at 0.34 in multiple quarters between December 2023 and June 2025, before decreasing to 0.30 in September 2025 and 0.29 in December 2025. This suggests a growing proportion of debt in the company’s capital structure, with a recent slight reduction.

Debt to Assets Ratio

The debt to assets ratio also showed an upward trend, increasing from 0.21 in April 2022 to 0.26 in March 2025. The increase was relatively steady until reaching 0.27 in April 2023, after which it stabilized around 0.26 for several quarters. The ratio then decreased slightly to 0.23 in September 2025 and 0.22 in December 2025. This indicates a growing proportion of assets financed by debt, followed by a recent stabilization and minor decrease.

Financial Leverage Ratio

The financial leverage ratio demonstrated a consistent increase from 1.71 in April 2022 to 1.98 in December 2024. This represents the most substantial increase among the observed ratios. Following the peak, the ratio decreased to 1.85 in December 2025, indicating a reduction in the company’s use of leverage. The leverage ratio experienced fluctuations, but generally remained elevated compared to the beginning of the period.

In summary, the company experienced a period of increasing financial leverage, as evidenced by all four ratios. However, the most recent quarters suggest a potential shift towards stabilization and a slight reduction in reliance on debt financing. Continued monitoring of these ratios is recommended to assess the sustainability of this trend.

The debt to equity ratio exhibits a generally increasing trend over the observed period, punctuated by some fluctuations. Initially, the ratio remained relatively stable, then increased significantly before stabilizing and decreasing slightly towards the end of the period.

Initial Stability and Increase (Apr 2, 2022 – Dec 31, 2022)

The debt to equity ratio began at 0.36 and demonstrated modest fluctuation, reaching 0.41 by the end of 2022. This indicates a gradual increase in the proportion of debt financing relative to equity financing during this timeframe.

Significant Increase (Apr 1, 2023 – Dec 30, 2023)

A more pronounced increase is observed from April 2023, with the ratio rising to 0.51. This suggests a substantial reliance on debt to fund operations or investments. The ratio then decreased slightly to 0.47 by December 2023, but remained elevated compared to earlier periods.

Fluctuation and Recent Decrease (Mar 30, 2024 – Dec 27, 2025)

From March 2024 through June 2025, the ratio fluctuated between 0.46 and 0.52, indicating a period of relative instability in the capital structure. A downward trend is then apparent, with the ratio decreasing to 0.41 by December 2025. This suggests a recent shift towards reducing debt or increasing equity.

Overall Trend

The overall trend reveals a move from a lower debt to equity ratio in early 2022 to a higher ratio in mid-2023, followed by a period of fluctuation and a slight decrease towards the end of the observed period. The highest ratio recorded was 0.52, and the lowest was 0.35.

The observed changes in the debt to equity ratio warrant further investigation to understand the underlying drivers, such as changes in financing strategies, investment decisions, and profitability. The recent decrease in the ratio may indicate a positive development in the company’s financial leverage.

The debt to capital ratio exhibits a generally increasing trend over the observed period, with some fluctuations. Initially, the ratio remained relatively stable, fluctuating between 0.26 and 0.29 from April 2022 to December 2022. A noticeable increase began in the first quarter of 2023, peaking at 0.34 in April 2023 before decreasing slightly to 0.32 by the end of the year. The ratio experienced another increase in the first half of 2024, reaching 0.32 in June 2024, followed by a decrease to 0.29 by December 2025.

Overall Trend

The overall trend indicates a growing reliance on debt financing relative to capital over the analyzed timeframe. While there are quarterly variations, the ratio generally increased from 0.27 in April 2022 to 0.29 in December 2025. This suggests a potential shift in the company’s capital structure.

Short-Term Fluctuations

The period between July 2023 and September 2024 shows more volatility. The ratio increased from 0.33 to 0.34, then decreased to 0.30 in September 2025. These fluctuations could be attributed to specific financing activities, asset sales, or changes in equity during those quarters.

Recent Developments

The most recent quarters (September 2025 and December 2025) show a slight decrease in the debt to capital ratio, moving from 0.30 to 0.29. This could indicate a recent effort to reduce debt or increase equity, potentially signaling a change in financial strategy.

The observed increases in the debt to capital ratio warrant further investigation to understand the underlying drivers and potential implications for the company’s financial risk profile. The recent stabilization and slight decrease are positive developments, but continued monitoring is recommended.

The debt-to-assets ratio exhibits a generally increasing trend over the observed period, with some stabilization in later quarters. Initially, the ratio remained consistent at 0.21 for the first two quarters. A subsequent increase is noted, reaching 0.23 in both the third and fourth quarters of 2022. This upward trajectory continues into the first half of 2023, peaking at 0.27 in the first quarter of 2023.

Overall Trend

From the beginning of the period through the first quarter of 2023, the ratio demonstrates a clear upward trend, indicating increasing financial leverage. However, the ratio then stabilizes, fluctuating between 0.26 and 0.27 for several quarters before beginning a slight decline.

Following the peak in the first quarter of 2023, the ratio experiences a period of relative stability, remaining around 0.26 to 0.27 through the end of 2023 and the first half of 2024. A modest decrease is then observed, with the ratio falling to 0.25 by the third quarter of 2024. This downward trend continues into 2025, reaching 0.22 in the final quarter.

Recent Developments

The most recent quarters show a decreasing trend in the debt-to-assets ratio. This suggests a potential reduction in reliance on debt financing or an increase in asset base relative to debt. The decline from 0.26 in the second quarter of 2024 to 0.22 in the fourth quarter of 2025 represents a noticeable shift.

The fluctuations observed suggest a dynamic capital structure management strategy. While leverage increased initially, the subsequent stabilization and eventual decrease indicate a potential recalibration of debt levels in relation to asset holdings. The ratio remains within a relatively narrow band, suggesting a controlled approach to financial risk.

Ratio Range

Throughout the analyzed period, the debt-to-assets ratio remained between 0.21 and 0.27. This indicates that, for every dollar of assets, between 21 and 27 cents are financed by debt. The recent trend suggests a move towards the lower end of this range.

The financial leverage ratio for the analyzed period demonstrates a generally increasing trend, with some fluctuations. Initially, the ratio exhibited a slight decrease before rising to its highest point and then stabilizing with minor variations. This suggests a growing reliance on debt financing relative to equity over the observed timeframe.

Overall Trend

The financial leverage ratio began at 1.71 and generally increased, peaking at 1.98 before decreasing to 1.85. This indicates a strengthening of financial leverage throughout most of the period, followed by a slight reduction in the most recent quarter.

Initial Phase (Apr 2, 2022 – Dec 31, 2022)

From April 2022 to December 2022, the ratio experienced a minor decline from 1.71 to 1.68, followed by a gradual increase to 1.80. This initial period suggests a period of relatively stable, but slightly increasing, financial leverage.

Growth Phase (Apr 1, 2023 – Dec 30, 2023)

A more pronounced increase in the ratio occurred between April 2023 and December 2023, rising from 1.89 to 1.81. This indicates a more significant shift towards increased debt financing during this period.

Peak and Subsequent Adjustment (Mar 30, 2024 – Dec 27, 2025)

The ratio reached its highest value of 1.98 in December 2024. Subsequently, a slight decrease to 1.85 was observed by December 2025. This suggests a potential recalibration of the capital structure, possibly through equity issuance or debt repayment, although the change is relatively small.

Quarterly Fluctuations

Within the overall trend, quarterly fluctuations were present. For example, a notable increase occurred between September 2024 (1.94) and December 2024 (1.98). These fluctuations may be attributable to specific financing activities or changes in asset levels during those periods.

The observed trend in financial leverage suggests a strategic decision to utilize debt financing to fund operations or investments. While an increasing ratio can amplify returns, it also increases financial risk. The recent slight decrease in the ratio may indicate a move towards a more balanced capital structure.