Intel Corporation (INTC)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 53,879,000 | 61,811,000 | 78,168,000 | 76,984,000 | 71,052,000 |
| Total current assets | US$ in thousands | 43,269,000 | 50,407,000 | 58,558,000 | 47,249,000 | 31,239,000 |
| Total current liabilities | US$ in thousands | 28,053,000 | 32,155,000 | 27,462,000 | 24,754,000 | 22,310,000 |
| Working capital turnover | 3.54 | 3.39 | 2.51 | 3.42 | 7.96 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $53,879,000K ÷ ($43,269,000K – $28,053,000K)
= 3.54
The working capital turnover ratio of Intel Corporation has fluctuated over the past five years. The ratio indicates how efficiently the company is utilizing its working capital to generate sales revenue.
In 2023, the working capital turnover ratio increased to 3.54 from 3.39 in 2022, suggesting that Intel was able to generate sales more efficiently relative to its working capital investment. This improvement may indicate effective management of inventory, accounts receivable, and accounts payable.
Comparing to 2021, where the ratio was 2.51 and significantly lower than the recent years, it indicates that Intel was less efficient in utilizing its working capital to generate sales during that period.
The working capital turnover was 3.42 in 2020, showing a slight decrease from 2019 where the ratio was 7.96, which was notably high. The significant drop in the ratio in 2021 followed by a recovery and improvement in 2022 and 2023 suggests fluctuations in working capital efficiency over the years.
Overall, the trend in Intel Corporation's working capital turnover indicates variations in how effectively the company is managing its working capital to support its sales operations.
Peer comparison
Dec 31, 2023