TEXAS INSTRUMENTS INC (TXN)

Segment	2021	2022	2023	2024	2025	% of Total
Analog	$14.05B	$15.36B	$13.04B	$12.16B	$14.01B	79%
Embedded Processing	$3.05B	$3.26B	$3.37B	$2.53B	$2.70B	15%
Other	$1.25B	$1.41B	$1.11B	$947M	$979M	6%

TEXAS INSTRUMENTS INC (TXN) - Stock Research

	1-Yr	4-Yr
Sales	13.7%	-0.3%
Cash Flow	13.9%	-4.3%
Earnings	4.8%	-9.9%
Dividends	4.9%	7.2%
Book Value	-3.2%	5.8%

	1-Yr	4-Yr
ROIC	21.8%	34.4%
Gross Margin	57.0%	61.7%
FCF Yield	1.6%	1.9%
Buyback Yield	0.9%	1.1%

	Q1	Q2	Q3	Q4
2021	1.87	2.05	2.07	2.27
2022	2.35	2.45	2.47	2.14
2023	1.85	1.87	1.86	1.49
2024	1.20	1.22	1.47	1.31
2025	1.28	1.41	1.49	1.27

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Financial data for TXN from SEC EDGAR
Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Earnings Power
Revenue	13.0B	13.0B	13.4B	15.0B	15.8B	14.4B	14.5B	18.3B	20.0B	17.5B	15.6B	17.7B	17.7B
Net Income	2.8B	3.0B	3.6B	3.7B	5.6B	5.0B	5.6B	7.8B	8.7B	6.5B	4.8B	5.0B	5.0B
Owner Earnings	2.8B	3.3B	3.8B	4.6B	6.4B	5.7B	5.2B	7.8B	7.5B	4.9B	4.4B	4.8B	4.8B
Non-Recurring	51M	71M	15M	11M	0	36M	24M	N/A	N/A	0	124M	117M	117M
Gross Margin	56.9%	58.2%	61.8%	64.3%	65.1%	63.7%	64.1%	67.5%	68.8%	62.9%	58.1%	57.0%	57.0%
Op. Margin	30.3%	32.9%	36.3%	40.7%	42.5%	39.8%	40.8%	48.8%	50.6%	41.8%	34.9%	34.1%	34.1%
Net Margin	21.6%	23.0%	26.9%	24.6%	35.4%	34.9%	38.7%	42.4%	43.7%	37.2%	30.7%	28.3%	28.3%
Returns on Capital
ROE	27.2%	30.0%	34.3%	35.6%	62.0%	56.3%	60.9%	58.3%	60.0%	38.5%	28.4%	30.1%	30.7%
ROA	16.2%	18.4%	21.9%	20.9%	32.6%	27.8%	28.9%	31.5%	32.2%	20.1%	13.5%	14.3%	14.5%
ROIC	25.0%	27.9%	33.4%	37.0%	57.0%	53.8%	58.2%	68.9%	62.1%	32.9%	21.0%	21.8%	20.7%
Cash Flow
Free Cash Flow	3.5B	3.8B	4.1B	4.7B	6.1B	5.8B	5.5B	6.3B	5.9B	1.3B	1.5B	2.6B	2.6B
CapEx	385M	551M	531M	695M	1.1B	847M	649M	2.5B	2.8B	5.1B	4.8B	4.5B	4.5B
Maint. CapEx	850M	766M	605M	539M	590M	708M	733M	755M	925M	1.2B	1.5B	1.9B	1.9B
Growth CapEx	0	0	0	156M	541M	139M	0	1.7B	1.9B	3.9B	3.3B	2.6B	2.6B
CapEx/OCF	9.9%	12.5%	11.5%	13.0%	15.7%	12.7%	10.6%	28.1%	32.1%	79.0%	76.3%	63.6%	63.6%
D&A	850M	766M	605M	539M	590M	708M	733M	755M	925M	1.2B	1.5B	1.9B	1.9B
Capital Allocation
Op. Cash Flow	3.9B	4.4B	4.6B	5.4B	7.2B	6.6B	6.1B	8.8B	8.7B	6.4B	6.3B	7.2B	7.2B
Dividends Paid	1.3B	1.4B	1.6B	2.1B	2.6B	3.0B	3.4B	3.9B	4.3B	4.6B	4.8B	5.0B	5.0B
Share Buybacks	2.8B	2.7B	2.1B	2.6B	5.1B	3.0B	2.6B	527M	3.6B	293M	929M	1.5B	1.5B
Buyback Yield	6.4%	6.1%	3.6%	3.0%	6.7%	2.9%	2.0%	0.3%	2.7%	0.2%	0.5%	0.9%	0.7%
Debt Repayment	1.0B	1.0B	1.0B	625M	500M	750M	500M	550M	500M	500M	600M	750M	750M
Stock-Based Comp	277M	286M	252M	242M	232M	217M	224M	230M	289M	362M	387M	419M	419M
Balance Sheet
Total Assets	17.4B	16.2B	16.4B	17.6B	17.1B	18.0B	19.4B	24.7B	27.2B	32.3B	35.5B	34.6B	34.6B
Intangibles	4.4B	4.4B	4.4B	4.4B	4.4B	4.4B	4.4B	4.4B	4.4B	4.4B	4.4B	4.3B	4.3B
Total Liabilities	7.0B	6.3B	6.0B	7.3B	8.1B	9.1B	10.2B	11.3B	12.6B	15.5B	18.6B	18.3B	18.3B
Equity	10.4B	9.9B	10.5B	10.3B	9.0B	8.9B	9.2B	13.3B	14.6B	16.9B	16.9B	16.3B	16.3B
Net Debt	1.1B	902M	119M	-392M	835M	416M	230M	-2.0B	-332M	2.6B	6.0B	9.2B	9.2B
Long-Term Debt	3.6B	3.1B	3.0B	3.6B	4.3B	5.3B	6.2B	7.2B	8.2B	10.6B	12.8B	13.5B	N/A
Debt/Equity	0.45	0.41	0.34	0.39	0.56	0.65	0.74	0.58	0.60	0.66	0.80	0.86	0.86
Interest Coverage	42.0	47.5	60.7	78.0	53.7	33.7	31.0	48.7	47.4	20.8	10.8	11.1	11.1
Working Capital	4.8B	4.5B	5.2B	6.5B	5.6B	6.6B	7.8B	11.1B	11.0B	11.8B	11.4B	10.6B	10.6B
Current Assets	7.4B	7.1B	7.5B	8.7B	8.1B	8.8B	10.2B	13.7B	14.0B	15.1B	15.0B	13.8B	13.8B
Current Liabilities	2.7B	2.6B	2.3B	2.3B	2.5B	2.1B	2.4B	2.6B	3.0B	3.3B	3.6B	3.2B	3.2B
Retained Earnings	29.7B	31.2B	33.1B	34.7B	37.9B	39.9B	42.1B	45.9B	50.4B	52.3B	52.3B	52.2B	52.2B
Per Share Data
Avg. Price	34.33	40.19	48.19	66.08	85.32	95.46	112.18	162.08	152.21	155.06	179.05	179.05	218.77
EPS	2.57	2.82	3.48	3.61	5.59	5.24	5.97	8.26	9.41	7.07	5.20	5.45	5.45
Owner EPS	2.52	3.16	3.64	4.49	6.38	5.98	5.53	8.26	8.07	5.30	4.79	5.25	5.31
Book Value	9.47	9.39	10.14	10.13	9.01	9.30	9.80	14.18	15.68	18.35	18.32	17.73	17.93
Cash Flow/Share	3.55	4.15	4.47	5.26	7.20	6.94	6.55	9.31	9.38	6.97	6.85	7.80	7.62
Dividends/Share	1.24	1.40	1.64	2.06	2.56	3.14	3.66	4.13	4.62	4.95	5.20	5.45	5.51
Shares Out.	1.1B	1.1B	1.0B	1.0B	998.2M	957.4M	937.2M	940.6M	929.8M	920.8M	922.9M	917.6M	907.6M
Valuation
P/E Ratio	15.7	15.1	16.5	23.1	13.7	20.5	23.3	20.4	15.5	22.7	35.4	32.2	40.1
Price/Book	4.3	4.5	5.7	8.2	8.5	11.6	14.2	11.9	9.3	8.8	10.0	9.9	12.2
Price/Sales	2.9	3.3	3.7	4.5	5.4	6.4	7.3	8.3	7.1	8.1	10.6	9.3	11.2
EV/EBIT	11.5	10.8	12.2	13.9	11.5	18.1	22.2	17.5	13.4	20.5	32.2	28.3	34.5
FCF Yield	7.9%	8.5%	6.9%	5.5%	7.9%	5.6%	4.2%	4.0%	4.4%	0.9%	0.9%	1.6%	1.3%
Market Cap	44.2B	45.0B	59.2B	84.9B	76.3B	103.1B	130.4B	158.6B	136.0B	147.9B	169.8B	161.3B	198.5B
Year-End Price	40.23	42.54	57.34	83.21	76.40	107.65	139.18	168.59	146.22	160.66	183.97	175.73	218.77

TEXAS INSTRUMENTS INC

Business Description

Revenue by Segment

Quality Checklist