Texas Instruments Inc. (TXN) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$1.94	$2.14	+10.3%	—	—	—
Q3 26	$1.37	$1.68	+22.6%	—	—	—
Q2 26	$1.31	$1.27	-3.1%	—	—	—
Q1 26	$1.33	$1.41	+6.0%	—	—	—
Q4 25	$1.1	$1.28	+16.4%	—	—	—
Q3 25	$1.2	$1.3	+8.3%	—	—	—
Q2 25	$1.37	$1.47	+7.3%	—	—	—
Q1 25	$1.19	$1.17	-1.7%	—	—	—
Q4 24	$1.07	$1.2	+12.1%	—	—	—
Q3 24	$1.49	$1.46	-2.0%	—	—	—
Q2 24	$1.82	$1.85	+1.6%	—	—	—
Q1 24	$1.76	$1.87	+6.3%	—	—	—
Q4 23	$1.78	$1.85	+3.9%	—	—	—
Q3 23	$1.98	$2.13	+7.6%	—	—	—
Q2 23	$2.39	$2.45	+2.5%	—	—	—
Q1 23	$2.12	$2.45	+15.6%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$5.5	—	—	$17.7B	—
FY24	—	$5.26	—	—	$15.6B	—
FY23	—	$7.17	—	—	$17.5B	—
FY22	—	$9.55	—	—	$20B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$13.4B	$15B	$15.8B	$14.4B	$14.5B	$18.3B	$20B	$17.5B	$15.6B	$17.7B
YoY change	+2.85%	+11.9%	+5.5%	-8.88%	+0.54%	+26.9%	+9.18%	-12.5%	-10.7%	+13%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	13.4B	15B	15.8B	14.4B	14.5B	18.3B	20B	17.5B	15.6B	17.7B
Cost of revenue	5.1B	5.3B	5.5B	5.2B	5.2B	6B	6.3B	6.5B	6.5B	7.6B
Gross profit	8.3B	9.6B	10.3B	9.2B	9.3B	12.4B	13.8B	11B	9.1B	10.1B
Gross margin	61.8%	64.3%	65.1%	63.7%	64.1%	67.5%	68.8%	62.9%	58.1%	57%
Research & development	1.4B	1.5B	1.6B	1.5B	1.5B	1.6B	1.7B	1.9B	2B	2.1B
Selling, general & administrative	1.7B	1.7B	1.7B	1.6B	1.6B	1.7B	1.7B	1.8B	1.8B	1.9B
Operating expenses	3.1B	3.1B	3.2B	3.2B	3.2B	3.2B	3.4B	3.7B	3.8B	3.9B
Operating income	5.2B	6.4B	7B	6B	6.1B	9.2B	10.4B	7.3B	5.3B	6.1B
Operating margin	38.6%	42.9%	44.6%	41.5%	42.3%	49.9%	51.9%	41.8%	34.1%	34.7%
Non-operating income, net	-149M	-254M	-223M	-77M	91M	-53M	-151M	440M	620M	113M
Pretax income	4.9B	6.1B	6.7B	5.7B	6B	8.9B	10B	7.4B	5.5B	5.7B
Income tax	1.3B	2.4B	1.1B	711M	422M	1.1B	1.3B	908M	654M	709M
Net income	3.6B	3.7B	5.6B	5B	5.6B	7.8B	8.7B	6.5B	4.8B	5B
Net margin	26.9%	24.6%	35.4%	34.9%	38.7%	42.4%	43.7%	37.2%	30.7%	28.3%
EBITDA	6.3B	7.4B	8.1B	7.2B	7.4B	10.3B	11.5B	9B	7.4B	8.4B
EPS	3.61	3.72	5.75	5.36	6.07	8.42	9.55	7.17	5.26	5.5
Diluted EPS	3.48	3.61	5.59	5.24	5.97	8.26	9.41	7.07	5.2	5.45

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	4.5B	4.1B	3.7B	3.8B	4.2B	4B	4.1B	4.4B	4.7B	4.4B	4.8B	5.5B
Cost of revenue	1.7B	1.6B	1.6B	1.6B	1.7B	1.7B	1.8B	1.9B	2B	2B	2B	2.1B
Gross profit	2.8B	2.4B	2.1B	2.2B	2.5B	2.3B	2.3B	2.6B	2.7B	2.5B	2.8B	3.4B
Gross margin	62.1%	59.6%	57.2%	57.8%	59.6%	57.7%	56.8%	57.9%	57.4%	55.9%	58%	61.4%
Research & development	471M	460M	478M	498M	492M	491M	517M	527M	518M	521M	510M	535M
Selling, general & administrative	452M	438M	455M	465M	428M	446M	472M	485M	457M	446M	464M	490M
Operating expenses	923M	898M	933M	963M	920M	937M	989M	1B	975M	967M	974M	1B
Operating income	1.9B	1.5B	1.2B	1.2B	1.6B	1.4B	1.3B	1.6B	1.7B	1.5B	1.8B	2.3B
Operating margin	41.7%	37.6%	31.7%	32.7%	37.4%	34.4%	32.5%	35.1%	36.9%	34%	37.8%	42.6%
Non-operating income, net	128M	113M	247M	130M	131M	112M	80M	48M	-23M	8M	30M	52M
Pretax income	1.9B	1.5B	1.3B	1.2B	1.6B	1.4B	1.3B	1.5B	1.6B	1.4B	1.7B	2.2B
Income tax	213M	177M	188M	120M	192M	154M	97M	183M	220M	209M	169M	258M
Net income	1.7B	1.4B	1.1B	1.1B	1.4B	1.2B	1.2B	1.3B	1.4B	1.2B	1.5B	2B
Net margin	37.7%	33.6%	30.2%	29.5%	32.8%	30.1%	29%	29.1%	28.8%	26.3%	32%	36.2%
EBITDA	2.3B	2B	1.6B	1.8B	2.1B	1.9B	1.8B	2.1B	2.3B	2.1B	2.4B	3B
EPS	1.88	1.51	1.21	1.23	1.49	1.32	1.3	1.43	1.5	1.28	1.7	2.17
Diluted EPS	1.85	1.49	1.2	1.22	1.47	1.3	1.28	1.41	1.48	1.27	1.68	2.14

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	72.7B	103.5B	91.7B	120.1B	151.2B	174B	151.3B	154.8B	171B	157.7B	254.2B
Enterprise value	72.8B	103.1B	92.5B	120.8B	151.6B	172.3B	151B	157.4B	177B	166.9B	261B
Shares outstanding	996M	991M	970M	936M	921M	923M	916M	908M	912M	909M	909M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	20.2	28.1	16.4	23.9	27	22.4	17.3	23.8	35.6	31.5	42.1
P/S	5.44	6.92	5.81	8.35	10.5	9.48	7.56	8.83	10.9	8.92	13
P/B	6.94	10	10.2	13.5	16.5	13	10.4	9.16	10.1	9.69	14.1
EV/EBITDA	11.6	14	11.4	16.8	20.4	16.8	13.2	17.5	23.9	19.9	27.4
EV/Sales	5.44	6.89	5.86	8.4	10.5	9.4	7.54	8.99	11.3	9.44	13.4
Earnings yield	4.95%	3.56%	6.09%	4.18%	3.7%	4.47%	5.78%	4.21%	2.81%	3.17%	2.37%
FCF yield	5.62%	4.51%	6.61%	4.83%	3.63%	3.62%	3.91%	0.87%	0.88%	1.65%	1.39%
PEG	—	—	—	—	—	—	—	—	—	—	0.81

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	61.8%	64.3%	65.1%	63.7%	64.1%	67.5%	68.8%	62.9%	58.1%	57%	61.4%
Operating margin	38.6%	42.9%	44.6%	41.5%	42.3%	49.9%	51.9%	41.8%	34.1%	34.7%	42.6%
Net margin	26.9%	24.6%	35.4%	34.9%	38.7%	42.4%	43.7%	37.2%	30.7%	28.3%	31.1%
ROE	34.3%	35.6%	62%	56.3%	60.9%	58.3%	60%	38.5%	28.4%	30.7%	35.2%
ROA	21.9%	20.9%	32.6%	27.8%	28.9%	31.5%	32.2%	20.1%	13.5%	14.5%	13.1%
ROIC	35.5%	39%	59.7%	54.6%	58.8%	68.1%	63.7%	32.9%	20.5%	21.1%	25.9%
Return on tangible assets	70.8%	54.1%	80%	59.2%	53.9%	49.2%	48.1%	28.1%	18.3%	19.7%	22.8%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.29	3.87	3.27	4.13	4.28	5.33	4.7	4.55	4.12	4.35	4.86
Quick ratio	2.5	3	2.38	3.18	3.47	4.58	3.77	3.35	2.88	2.83	3.44
Debt / equity	0.34	0.39	0.56	0.68	0.77	0.61	0.6	0.66	0.8	0.86	0.78
Debt / assets	0.22	0.23	0.3	0.34	0.36	0.33	0.32	0.35	0.38	0.41	0.39
Net debt / EBITDA	0.02	-0.05	0.1	0.09	0.06	-0.16	-0.03	0.29	0.81	1.1	0.72
Interest coverage	62.6	78.9	54.5	34.7	32.7	49.5	47.9	22	11.7	11.5	13.2
Effective tax rate	27.1%	39.4%	16.5%	12.4%	7.01%	12.9%	12.8%	12.2%	12%	12.4%	12.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	13.4	15.1	16.3	15.4	15.7	19.9	21.9	19.3	17.2	19.5	21.4
EPS (basic)	3.61	3.72	5.75	5.36	6.07	8.42	9.55	7.17	5.26	5.5	5.5
EPS (diluted)	3.48	3.61	5.59	5.24	5.97	8.26	9.41	7.07	5.2	5.45	6.59
Book value per share	10.5	10.4	9.27	9.52	9.98	14.4	15.9	18.6	18.5	17.9	19.7
FCF per share	4.1	4.71	6.25	6.2	5.96	6.82	6.47	1.49	1.64	2.86	5.82
Cash per share	3.5	4.51	4.36	5.76	7.13	10.6	9.9	9.44	8.31	5.37	7.67
Capex per share	—	—	—	—	—	—	—	—	—	5.01	3.6

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	25.7%	17%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	63.6%	38.2%
Payout ratio	45.8%	57.1%	45.8%	60%	61.2%	50%	49.1%	70%	99.9%	100%	85.4%
Dividend yield	2.26%	2.03%	2.79%	2.51%	2.27%	2.23%	2.84%	2.94%	2.8%	3.17%	2.04%

Yield

2.04%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.42

ex-dividend Jul 31, 2026

Payout ratio

85%

of earnings

Dividend growth

22 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 31, 2026	$1.42
May 5, 2026	$1.42
Jan 30, 2026	$1.42

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$4.5B	$4.1B	$3.7B	$3.8B	$4.2B	$4B	$4.1B	$4.4B	$4.7B	$4.4B	$4.8B	$5.5B
YoY change	-13.5%	-12.7%	-16.4%	-15.6%	-8.41%	-1.72%	+11.1%	+16.4%	+14.2%	+10.4%	+18.6%	+22.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	3.5B	4.5B	4.2B	5.4B	6.6B	9.7B	9.1B	8.6B	7.6B	4.9B
Receivables	1.3B	1.3B	1.2B	1.1B	1.4B	1.7B	1.9B	1.8B	1.7B	2B
Inventory	1.8B	2B	2.2B	2B	2B	1.9B	2.8B	4B	4.5B	4.8B
Total current assets	7.5B	8.7B	8.1B	8.8B	10.2B	13.7B	14B	15.1B	15B	13.8B
Property, plant & equipment	-241M	197M	686M	799M	698M	1.7B	2.7B	4.5B	4.9B	5.5B
Goodwill & intangibles	11.4B	10.8B	10.2B	9.5B	9B	8.9B	9B	9.2B	9.2B	9.1B
Total assets	16.4B	17.6B	17.1B	18B	19.4B	24.7B	27.2B	32.3B	35.5B	34.6B
Accounts payable	396M	466M	478M	388M	415M	571M	851M	802M	820M	756M
Short-term debt	631M	500M	749M	500M	550M	500M	500M	599M	750M	500M
Total current liabilities	2.3B	2.3B	2.5B	2.1B	2.4B	2.6B	3B	3.3B	3.6B	3.2B
Long-term debt	3B	3.6B	4.3B	5.6B	6.5B	7.6B	8.2B	10.6B	12.8B	13.5B
Total liabilities	6B	7.3B	8.1B	9.1B	10.2B	11.3B	12.6B	15.5B	18.6B	18.3B
Shareholders' equity	10.5B	10.3B	9B	8.9B	9.2B	13.3B	14.6B	16.9B	16.9B	16.3B
Total debt	3.6B	4.1B	5.1B	6.1B	7B	8.1B	8.7B	11.2B	13.6B	14B
Net debt	2.5B	2.4B	2.6B	3.6B	3.9B	3.5B	5.7B	8.3B	10.4B	10.8B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	8.9B	—	10.4B	9.7B	8.8B	—	5B	5.4B	5.2B	4.9B	5.1B	7B
Receivables	2B	—	1.7B	1.7B	1.9B	—	1.9B	1.9B	2.1B	2B	2.2B	2.5B
Inventory	3.9B	—	4.1B	4.1B	4.3B	—	4.7B	4.8B	4.8B	4.8B	4.7B	4.6B
Total current assets	15.1B	—	17.4B	16.8B	15.9B	—	13.1B	14.5B	13.9B	13.8B	13.8B	15.8B
Property, plant & equipment	-3.2B	150M	-3.3B	-3.4B	12.6B	113M	-4.2B	-4.6B	-5B	5.5B	-5.7B	-5.9B
Goodwill & intangibles	9B	—	9.2B	9.2B	9.2B	—	9.3B	9.2B	9.2B	9.1B	9.3B	9.3B
Total assets	31.6B	—	34.9B	35B	35.3B	—	33.8B	34.9B	35B	34.6B	34.4B	35.9B
Accounts payable	713M	—	551M	858M	794M	—	866M	881M	779M	756M	638M	680M
Short-term debt	300M	—	1.3B	1B	1B	—	—	—	500M	500M	1.1B	1.1B
Total current liabilities	2.7B	—	3.6B	3.6B	3.7B	—	2.5B	2.5B	3.1B	3.2B	3.1B	3.2B
Long-term debt	10.9B	—	12.8B	12.8B	13.5B	—	12.8B	14B	13.5B	13.5B	12.9B	12.9B
Total liabilities	15B	—	17.9B	17.8B	18.1B	—	17.4B	18.5B	18.4B	18.3B	17.6B	17.9B
Shareholders' equity	16.6B	—	17B	17.2B	17.3B	—	16.4B	16.4B	16.6B	16.3B	16.8B	18B
Total debt	11.2B	—	14.2B	13.9B	14.6B	—	12.8B	14B	14B	14B	14.1B	14.1B
Net debt	8.7B	—	11.7B	11.2B	12B	—	10.1B	11B	10.7B	10.8B	10.5B	10.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	3.6B	3.7B	5.6B	5B	5.6B	7.8B	8.7B	6.5B	4.8B	5B
Depreciation & amortization	955M	904M	954M	1.1B	992M	954M	979M	1.2B	1.6B	2B
Stock-based compensation	252M	242M	232M	217M	224M	230M	289M	362M	387M	419M
Change in working capital	-99M	-126M	-225M	241M	-168M	-202M	-913M	-1.1B	-335M	-444M
Operating cash flow	4.4B	4.8B	6.4B	6.6B	6.4B	8.8B	8.6B	6.4B	5.9B	7.2B
Capital expenditure	—	—	—	—	—	—	—	—	—	-4.5B
Investing cash flow	-119M	-432M	1.1B	-1.1B	-273M	-1.6B	-786M	709M	1.6B	-1.4B
Dividends paid	-1.6B	-2.1B	-2.6B	-3B	-3.4B	-3.9B	-4.3B	-4.6B	-4.8B	-5B
Share repurchases	-2.1B	-2.6B	-5.1B	-3B	-2.6B	-527M	-3.6B	-293M	-929M	-1.5B
Financing cash flow	-4.8B	-4.4B	-6.8B	-5.5B	-5B	-3.1B	-6.7B	-2.1B	-2.9B	-5.7B
Net change in cash	-527M	28M	589M	47M	1.1B	4B	1.1B	4.9B	4.6B	25M
Free cash flow	4.1B	4.7B	6.1B	5.8B	5.5B	6.3B	5.9B	1.3B	1.5B	2.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	1.7B	1.4B	1.1B	1.1B	1.4B	1.2B	1.2B	1.3B	1.4B	1.2B	1.5B	2B
Depreciation & amortization	320M	337M	362M	381M	402M	435M	444M	481M	517M	557M	562M	568M
Stock-based compensation	79M	68M	106M	116M	87M	78M	116M	129M	93M	81M	109M	127M
Change in working capital	-27M	214M	-489M	39M	-328M	-1M	-422M	-107M	-59M	144M	-298M	-84M
Operating cash flow	1.9B	1.9B	958M	1.3B	1.5B	1.7B	1.2B	1.8B	2.2B	2.3B	1.5B	2.7B
Capital expenditure	—	—	—	—	—	—	—	—	-1.2B	-925M	-676M	-514M
Investing cash flow	-199M	837M	-2.1B	1.1B	829M	1.8B	2.4B	-30M	-681M	-676M	-47M	-1.7B
Dividends paid	-1.1B	-1.2B	-1.2B	-1.2B	-1.2B	-1.2B	-1.2B	-1.2B	-1.2B	-1.3B	-1.3B	-1.3B
Share repurchases	-46M	-65M	-3M	-71M	-318M	-537M	-653M	-302M	-119M	-403M	-158M	-27M
Financing cash flow	-1.1B	-1.2B	1.8B	-1.3B	-1.4B	-2B	-2.5B	-244M	-1.2B	-1.7B	-1.1B	-890M
Net change in cash	601M	1.5B	708M	1.1B	884M	1.5B	988M	1.5B	267M	-86M	324M	111M
Free cash flow	442M	776M	-231M	507M	416M	806M	-274M	555M	993M	1.3B	844M	2.2B

Date	Ratio
May 23, 2000	2:1
Aug 17, 1999	2:1
Nov 24, 1997	2:1
Aug 21, 1995	2:1
Jun 15, 1987	3:1
May 29, 1973	2:1

Texas Instruments Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history