Intel (INTC) 10-K Summary — Year Ended Dec 30, 2023
Intel reported lower annual revenue and modest profitability, with operating cash flow remaining positive. The company continues to execute its IDM 2.0 strategy while navigating market headwinds.
Key takeaway
Year ended Dec 30, 2023 · FY2025 10-K
Intel reported lower annual revenue and modest profitability, with operating cash flow remaining positive. The company continues to execute its IDM 2.0 strategy while navigating market headwinds.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$54.2B
Revenue reported for the fiscal year.
Operating income
$93M
Income from operations reported for the year.
Net income
$1.7B
Net income reported for the year.
Operating cash flow
$11.5B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 25, 2021 | $79B | n/a |
| Dec 31, 2022 | $63.1B | -20.2% |
| Dec 30, 2023 | $54.2B | -14.0% |
Business overview
Intel is a global leader in semiconductor design and manufacturing, serving data center, PC, and other computing markets. The company operates under an integrated device manufacturing model and is executing its IDM 2.0 strategy to expand foundry services and internal manufacturing capabilities.
Financial performance
Revenue declined for the second consecutive year, while operating income was minimal. Net income turned positive, and operating cash flow remained healthy, supporting continued investment.
Material risks
The filing discusses risks including market competition, cyclical demand, execution of the IDM 2.0 strategy, cybersecurity threats, and global economic conditions. These factors could affect future results and cash flows.
Liquidity and capital
Operating cash flow provided sufficient liquidity, and the company continues to allocate capital to manufacturing expansion and research and development. No new equity or debt financing was emphasized.
What to watch
Investors should monitor the progress of Intel's foundry customer wins and internal technology roadmap milestones in the next filing.