Intel Corporation (INTC)
Intel is a historic leader in microprocessors that is investing heavily to rebuild its manufacturing edge and build a foundry business for outside customers. Its US fabs make it a focal point of domestic chip policy.
INTC vs PANW: how the two businesses compare
- Bigger business: INTC, with $52.9B of yearly revenue, about 5.7× PANW's $9.2B.
- More profitable: PANW keeps 12 cents of each sales dollar as profit; INTC lost money over the year.
- More cash from each sale: PANW turns 40 cents of each sales dollar into operating cash flow, against 18 cents at INTC.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Intel (INTC) is the larger business by reported revenue: $52.9B in its fiscal year ended Dec 2025, about 5.7× PANW's $9.2B (fiscal year ended Jul 2025). INTC's net margin was -0.5% and PANW's 12.3%. The SEC classifies them differently (Semiconductors & Related Devices; Computer Peripheral Equipment, NEC); what connects them is shared exposure to the Artificial intelligence research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Information Technology
- Different
- Separate classifications
- Different
- INTC December 27 · PANW July 31
- Sep 10, 2026
INTC vs PANW: quick comparison
| Company fact | INTC | PANW |
|---|---|---|
| Company | Intel Corporation | Palo Alto Networks, Inc. |
| Exchange | NASDAQ | NASDAQ |
| Headquarters | Santa Clara, California | — |
| Founded | 1968 | — |
| SEC industry | Semiconductors & Related Devices | Computer Peripheral Equipment, NEC |
| Fiscal year-end | December 27 | July 31 |
| Latest annual filing | 10-K · 2026-01-23 | 10-K · 2026-09-10 |
INTC vs PANW: audited financials
- Scale: INTC's $52.9B of revenue is about 5.7× PANW's $9.2B.
- Net margin: PANW kept 12.3% of revenue as net income versus -0.5% at INTC.
- Cash conversion: operating cash flow equalled INTC 18.3% of revenue; PANW 40.3% of revenue, or 3.28× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: the fiscal years end about 5 months apart (2025-12-27 for INTC, 2025-07-31 for PANW), so each figure reflects somewhat different demand and cost conditions.
| Metric | INTC | PANW |
|---|---|---|
| Revenue | $52.9B2024-12-29 to 2025-12-27 · SEC filing | $9.2B2024-08-01 to 2025-07-31 · SEC filing |
| Net income | −$267M2024-12-29 to 2025-12-27 · SEC filing | $1.1B2024-08-01 to 2025-07-31 · SEC filing |
| Operating cash flow | $9.7B2024-12-29 to 2025-12-27 · SEC filing | $3.7B2024-08-01 to 2025-07-31 · SEC filing |
| Diluted EPS | −$0.062024-12-29 to 2025-12-27 · SEC filing | $1.602024-08-01 to 2025-07-31 · SEC filing |
| Net margin | -0.5%2024-12-29 to 2025-12-27 · SEC filing | 12.3%2024-08-01 to 2025-07-31 · SEC filing |
INTC: FY ending 2025-12-27 · PANW: FY ending 2025-07-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where INTC and PANW overlap, and where they don't
Overlap
- Shared research theme: Artificial intelligence.
Differences
- Different SEC industries: INTC files as Semiconductors & Related Devices; PANW as Computer Peripheral Equipment, NEC.
- Offset fiscal calendars: INTC's year ends December 27 and PANW's July 31, about 5 months apart.
- Only INTC maps to Tariffs & trade.
- Scale: INTC reported about 5.7× the annual revenue of PANW.
- Profitability: net margin of -0.5% for INTC versus 12.3% for PANW.
- INTC reported a net loss of $267M in its fiscal year ended Dec 2025.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Palo Alto Networks, Inc. (PANW)
Palo Alto Networks provides next-generation firewalls, cloud security, and AI-driven threat detection for enterprises.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves INTC
- Intel 18A yield and volume ramp for client and server CPUs
- External foundry customer wins needed to justify Intel 14A
- Client and data-center CPU volume, pricing, and share versus AMD and Arm-based rivals
- Capital spending, fab construction pace, and government and strategic equity funding
What moves PANW
- Next-Generation Security annualized recurring revenue
- Platformization deals that consolidate point products onto Strata, Prisma, and Cortex
- Mix of hardware firewall product revenue versus subscription and support
- Distributor concentration and channel partner performance
The investment question
You now know INTC reports about 5.7× PANW's revenue, and PANW keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about “Intel 18A yield and volume ramp for client and server CPUs” at INTC and “Next-Generation Security annualized recurring revenue” at PANW, and which evidence in the next filings would prove that assumption wrong.
Members-only research
Members-only research on INTC and PANW
- Intel’s manufacturing option needs a cash-flow bridge
What Intel’s recovery evidence showed on January 23, 2026.
- NVIDIA’s growth has a financing bill
Sales up about 18% on the prior quarter, receivables up about 55%, supply commitments at $279 billion. What NVIDIA’s financing bill means for the price you pay.
The thesis, the numbers behind it, and what would break it. Full access is $39 a month.
Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. INTC's fiscal year ends December 27, while PANW's ends July 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 45 matched transaction rows for INTC and 37 matched transaction rows for PANW. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
INTC primary filings
PANW primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
INTC vs PANW FAQs
Are INTC and PANW direct competitors?
Not necessarily. Intel files as Semiconductors & Related Devices and Palo Alto Networks as Computer Peripheral Equipment, NEC. The pair is compared because both map to the Artificial intelligence research theme, not because the filings show head-to-head competition.
Is INTC or PANW the bigger company by revenue?
Intel (INTC) is the larger business by reported revenue: $52.9B in its fiscal year ended Dec 2025, about 5.7× PANW's $9.2B (fiscal year ended Jul 2025). INTC's net margin was -0.5% and PANW's 12.3%. The SEC classifies them differently (Semiconductors & Related Devices; Computer Peripheral Equipment, NEC); what connects them is shared exposure to the Artificial intelligence research theme, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, INTC or PANW?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this INTC vs PANW comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Intel Corporation and Palo Alto Networks, Inc. tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-10-13. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-10-13. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
INTC vs PANW compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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