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 SMCI: how the two businesses compare
- Bigger business: INTC, with $52.9B of yearly revenue, about 2.4× SMCI's $22.0B.
- More profitable: SMCI keeps 5 cents of each sales dollar as profit; INTC lost money over the year.
- More cash from each sale: INTC turns 18 cents of each sales dollar into operating cash flow, against 8 cents at SMCI.
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 2.4× SMCI's $22.0B (fiscal year ended Jun 2025). INTC's net margin was -0.5% and SMCI's 4.8%. The SEC classifies them differently (Semiconductors & Related Devices; Electronic Computers); what connects them is shared exposure to the Artificial intelligence and Tariffs & trade research themes, 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 · SMCI June 30
- Aug 31, 2026
INTC vs SMCI: quick comparison
| Company fact | INTC | SMCI |
|---|---|---|
| Company | Intel Corporation | Super Micro Computer, Inc. |
| Exchange | NASDAQ | NASDAQ |
| Headquarters | Santa Clara, California | — |
| Founded | 1968 | — |
| SEC industry | Semiconductors & Related Devices | Electronic Computers |
| Fiscal year-end | December 27 | June 30 |
| Latest annual filing | 10-K · 2026-01-23 | 10-K · 2026-08-31 |
INTC vs SMCI: audited financials
- Scale: INTC's $52.9B of revenue is about 2.4× SMCI's $22.0B.
- Net margin: SMCI kept 4.8% of revenue as net income versus -0.5% at INTC.
- Cash conversion: operating cash flow equalled INTC 18.3% of revenue; SMCI 7.6% of revenue, or 1.58× 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 6 months apart (2025-12-27 for INTC, 2025-06-30 for SMCI), so each figure reflects somewhat different demand and cost conditions.
| Metric | INTC | SMCI |
|---|---|---|
| Revenue | $52.9B2024-12-29 to 2025-12-27 · SEC filing | $22.0B2024-07-01 to 2025-06-30 · SEC filing |
| Net income | −$267M2024-12-29 to 2025-12-27 · SEC filing | $1.0B2024-07-01 to 2025-06-30 · SEC filing |
| Operating cash flow | $9.7B2024-12-29 to 2025-12-27 · SEC filing | $1.7B2024-07-01 to 2025-06-30 · SEC filing |
| Diluted EPS | −$0.062024-12-29 to 2025-12-27 · SEC filing | $1.682024-07-01 to 2025-06-30 · SEC filing |
| Net margin | -0.5%2024-12-29 to 2025-12-27 · SEC filing | 4.8%2024-07-01 to 2025-06-30 · SEC filing |
INTC: FY ending 2025-12-27 · SMCI: FY ending 2025-06-30. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where INTC and SMCI overlap, and where they don't
Overlap
- Shared research themes: Artificial intelligence and Tariffs & trade.
Differences
- Different SEC industries: INTC files as Semiconductors & Related Devices; SMCI as Electronic Computers.
- Offset fiscal calendars: INTC's year ends December 27 and SMCI's June 30, about 6 months apart.
- Scale: INTC reported about 2.4× the annual revenue of SMCI.
- Profitability: net margin of -0.5% for INTC versus 4.8% for SMCI.
- 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.
Super Micro Computer, Inc. (SMCI)
Super Micro Computer builds high-performance servers and storage systems tailored for AI and data-center workloads.
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 SMCI
We have not yet published a company-specific driver list for SMCI. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-08-31.
The investment question
You now know INTC reports about 2.4× SMCI's revenue, and SMCI keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about their exposure to artificial intelligence and tariffs & trade, including “Intel 18A yield and volume ramp for client and server CPUs” at INTC, and which evidence in the next filings would prove that assumption wrong.
Members-only research
Members-only research on INTC and SMCI
- 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 SMCI's ends June 30. 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 11 matched transaction rows for SMCI. 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
SMCI 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 SMCI FAQs
Are INTC and SMCI direct competitors?
Not necessarily. Intel files as Semiconductors & Related Devices and Super Micro Computer as Electronic Computers. The pair is compared because both map to the Artificial intelligence and Tariffs & trade research themes, not because the filings show head-to-head competition.
Is INTC or SMCI the bigger company by revenue?
Intel (INTC) is the larger business by reported revenue: $52.9B in its fiscal year ended Dec 2025, about 2.4× SMCI's $22.0B (fiscal year ended Jun 2025). INTC's net margin was -0.5% and SMCI's 4.8%. The SEC classifies them differently (Semiconductors & Related Devices; Electronic Computers); what connects them is shared exposure to the Artificial intelligence and Tariffs & trade research themes, 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 SMCI?
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 SMCI 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 Super Micro Computer, 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 SMCI 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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