A moat score of 24 and a management score of 39 point to a business without much pricing power left and without capital being put to good use right now. Return on invested capital sits at roughly 0%, gross margin has fallen to 34.8%, and free cash flow yield is negative 2.8%, meaning the company is not generating spare cash relative to its market value at the moment.
The valuation numbers cannot produce a buy price. Owner earnings measured over the historical period shrank at a rate of 7.0% a year, and a model that projects a shrinking base forward has nothing to compound, which is why the 10-cap, payback time, and consensus figures cluster near $12.66 and margin of safety price reads $0.00. This is a statement about the arithmetic of decline, not a verdict on the company.
The tension is straightforward: the share price is $97.71, built on a market view of the business that the trailing figures do not support. Debt to equity of 0.4x suggests the balance sheet has room, but the earnings trend behind it has been negative.
Intel Corporation has been shrinking over the period we measure, so a growth rate cannot be projected from its history. Rather than substitute an assumption the data does not support, Moatly publishes no price. That is a statement about the measurement, not a judgment about the business.
| Price | $108.60 |
| Market cap | $547.8B |
| P/E ratio | N/A |
| Return on invested capital | -0.0% |
| Gross margin | 34.8% |
| Debt to equity | 0.41x |
| Free cash flow yield | -2.8% |
| Growth rate used | 0.0% |
| Growth rate measured | -7.0% |
| Exit multiple assumed | 8.0x |
| Company | Moat | Mgmt | Margin of safety |
|---|---|---|---|
| Advanced Micro Devices (AMD) | 91 | 75 | 10 |
| Micron Technology (MU) | 62 | 70 | 38 |
| Broadcom Inc. (AVGO) | 99 | 98 | 33 |
| NVIDIA Corporation (NVDA) | 100 | 100 | 53 |
Every number above is built on assumptions that can be changed. In Moatly you can move the growth rate, the exit multiple and the margin of safety and watch every figure recalculate, so you are testing your own view of Intel Corporation rather than accepting ours.