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No. of Recommendations: 3
Here is a RMRanker Spreadsheet for Intel:


                                The Motley Fool's Rule Maker Ranker
                                Version 3 -- Updated June 2000

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                                                                                 (Please read all three of these competitor comments.)
Financial AnalysiCompany Being Evaluated                          Competitor #1   Competitor #2  Competitor #3

                      Intel                                            AMD       <Fill in Name> <Fill in Name>
                 Current Period Year-ago PeriodYear-over-Year    Current Period  Current Period Current Period
                      2000           1999          Growth             2000           <Date>         <Date>
Income Statement
  Sales                  33,726         29,389      14.8%                  4,644
  Cost of Goods S        12,650         11,836      6.9%                   2,515
  Net Income             10,535          7,314      44.0%                    889
  Shares Outstand         6,986          6,940      0.7%

Balance Sheet
  Cash & Equivale        13,473         11,400      18.2%                  1,293
  Current Assets         21,150         17,819      18.7%                  2,658
  Short-term Debt           378            230      64.3%                    130
  Current Liabili         8,650          7,099      21.8%                  1,224
  Long-term Debt            707            955     -26.0%                  1,168

Cash Flow Statement
  Operating Cash         12,827         12,134      5.7%                   1,206
  Capital Expendi         6,674          3,403      96.1%                    805
                                                                                1              0              0
Margins & Ratios . . .                                                                                         Competitors' Average
  Gross Margins            62.5%          59.7%      2.8                    45.9%                                   45.9%
  Net Margins              31.2%          24.9%      6.4                    19.1%                                   19.1%
  Cash-to-Debt             12.42           9.62     29.1%                    1.00                                    1.00
  Net Cash               12388.0        10215.0     21.3%                    -4.8                                    -4.8
  Fool Flow Ratio           0.93           0.93     -0.7%                    1.25                                    1.25
  Cash King Margi          18.2%          29.7%     -11.5                    8.6%                                    8.6%


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Ranking Rule Makers

1) Brand          Points (0-1)                                  3) Financial Dire Points (0-3)
Familiarity                    1                                Sales Growth                   2
Openness                       1                                Gross Margins                  3
Optimism                       1                                Net Margins                    3
Legitimacy                     1                                Shares Outstandin              2
Inevitability                  1                                Cash-to-Debt                   2
Solitariness                   0                                Fool Flow Ratio                1
Humor                          0                                Expansion Potenti              2
  Subtotal                     5                                  Subtotal                    15

2) Financial Loca Points (0-2)                                  4) Monopoly Statu Points (0-4)
Mass Market Habit              1                                Gross Margins                  4
Gross Margins                  2                                Net Margins                    4
Net Margins                    2                                Net Cash                       4
Cash-to-Debt                   2                                Fool Flow Ratio                4
Fool Flow Ratio                2                                Convenience                    4
Your Interest                  2                                  Subtotal                    20
  Subtotal                    11
                                                                5) Your  Enjoymen              1

                   Total Score               52   Top Tier!

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Donald Hoang
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No. of Recommendations: 1
I have only one suggestion: you may want to get newer data, even if it is only quarterly data. FY2000 data is deceptive given the market upheaval during FY2001. I believe FY2002 is already started (it has at my company...though I never understood how 2002 could be starting in April of 2001...).

As a shareholder I like what I see. Intel went into this decline very strong, and so should be able to weather it well (even if it lasts a few years, which it could). One low-light I note was an increase in short term debt. The rest looks nice!

As an addendum to your numbers I consulted ValuePro for a DCF-style analysis. Assuming a growth rate of 9% (fairly conservative, I think) and a discount rate of 15% (more conservative than ValuePro defaulted) I get an intrinsic value of 15.08 per share. I try to use conservative values, different choices will yield possible radically different results. For example, using their default of 8.92 discount the intrinsic value almost doubles to 28.73. I think this shous that INTC is not currently undervalued. It is fairly or overly valued.

1poorguy (long INTC)
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No. of Recommendations: 0
(it has at my company...though I never understood how 2002 could be starting in April of 2001...).

It corresponds to the fiscal year end. That's why on the statements, you will see Fiscal Year Ending XX/XX/XXXX or Period Ending XX/XX/XXXX. You'll see the fiscal periods starting in the prevoius year with companies that have non-calender fiscal years - - although Intel's fiscal end is basically the calender year end, so I'm not sure what you are referring to.

The Wolf

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No. of Recommendations: 0
Hi Wolf,

I know about it being a 'fiscal' year. I should have said I don't understand why. What is the point in creating your own calendar when a globally accepted standard is available? My company is in FY2002 (1Q), and the only reason I can think of is that we originally went IPO in a March.

1pg
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No. of Recommendations: 0
That could be it, or it could also be around the date that your company was created. Additionally, some companies move their fiscal year to eliminate seasonal events - - i.e. most retailers have a FYE of Jan 31 or later to ensure that the Christmas holiday is fully counted for (all returns, etc.).

The Wolf
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No. of Recommendations: 0
O, another thing: A lot of smaller companies that need a FYE audit (all public co's) move their FYE so that they can get an audit from a big accounting firm for less money. Accounting firms are swamped with calender year end companies, and prefer to smooth out the work flow, so they will generally offer discounts to companies.

The Wolf
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