Texas Instruments Incorporated (TXN) Financial Statements & Historical Data

Texas Instruments Incorporated (TXN) — Price $300.84 (closing price, October 30, 2026) — Technology — Semiconductors — NASDAQ

Latest reported results:

Detailed financial statements for Texas Instruments Incorporated (TXN): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year: ten fiscal years free and up to 20 with Premium.

Texas Instruments Incorporated (TI) specializes in the global design, production, and sale of semiconductors to electronics engineers and manufacturers. Its operations are structured into two core segments: Analog and Embedded Processing.

Analysis Summary

Texas Instruments Incorporated reported revenue of $17.68B in the most recent fiscal year, growing at a 5-year CAGR of 4.1%. Net income reached $5.00B, with a -2.2% 5-year CAGR.

Trailing-twelve-month margins: gross margin 60.2%, operating margin 40.8%, net margin 34.3%. Free cash flow grew at -13.9% CAGR over 5 years.

At $300.84 (closing price, October 30, 2026), TXN trades at a P/E of 38.97 and an ROE of 40.51%. Market capitalisation stands at $274.9B, placing it among large-cap names.

Balance sheet quality for TXN: current ratio of 4.4, net debt of $10.51B. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.

Cash flow quality is below average: free cash flow of $2.60B represents 52% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.

Income Statement (10y)

Year2016201720182019202020212022202320242025
Revenue$13.37B$14.96B$15.78B$14.38B$14.46B$18.34B$20.03B$17.52B$15.64B$17.68B
Cost of Revenue$5.13B$5.35B$5.51B$5.22B$5.19B$5.97B$6.26B$6.50B$6.55B$7.60B
Gross Profit$8.24B$9.61B$10.28B$9.16B$9.27B$12.38B$13.77B$11.02B$9.09B$10.08B
Research & Development$1.36B$1.51B$1.56B$1.54B$1.53B$1.55B$1.67B$1.86B$1.96B$2.08B
Selling, General & Admin$1.74B$1.75B$1.68B$1.65B$1.62B$1.67B$1.70B$1.82B$1.79B$1.86B
Operating Expenses$3.14B$3.20B$3.24B$3.19B$3.38B$3.42B$3.63B$3.69B$3.63B$4.06B
Operating Income$4.86B$6.08B$6.71B$5.72B$5.89B$8.96B$10.14B$7.33B$5.46B$6.02B
EBITDA$5.96B$7.06B$7.76B$6.95B$7.20B$10.06B$11.22B$9.01B$7.54B$8.25B
Interest Expense$80.0M$78.0M$125.0M$170.0M$190.0M$184.0M$214.0M$353.0M$508.0M$543.0M
Pre-tax Income$4.93B$6.08B$6.69B$5.73B$6.02B$8.92B$10.03B$7.42B$5.45B$5.71B
Income Tax$1.33B$2.40B$1.11B$711.0M$422.0M$1.15B$1.28B$908.0M$654.0M$709.0M
Net Income$3.60B$3.68B$5.58B$5.02B$5.59B$7.77B$8.75B$6.51B$4.80B$5.00B
EPS$3.54$3.68$5.71$5.33$6.05$8.38$9.51$7.13$5.24$5.45
EPS (Diluted)$3.48$3.61$5.59$5.24$5.97$8.27$9.41$7.07$5.20$5.45
Shares Outstanding (Diluted)1,021.0 M1,012.0 M990.0 M952.0 M933.0 M936.0 M926.0 M916.0 M919.0 M913.0 M

Income Statement (Quarterly)

Year2025-Q42026-Q12026-Q22026-Q3
Revenue$4.42B$4.83B$5.46B$6.05B
Gross Profit$2.47B$2.80B$3.35B$3.89B
Operating Income$1.47B$1.81B$2.31B$2.87B
EBITDA$2.07B$2.42B$2.95B$3.52B
Net Income$1.16B$1.54B$1.98B$2.42B
EPS$1.27$1.70$2.14$2.62
EPS (Diluted)$1.27$1.69$2.14$2.62

Balance Sheet (10y)

Year2001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025
Cash & Equivalents$431.0M$949.0M$1.82B$2.67B$1.22B$1.18B$1.33B$1.05B$1.18B$1.32B$992.0M$1.42B$1.63B$1.20B$1.00B$1.15B$1.66B$2.44B$2.44B$3.11B$4.63B$3.05B$2.96B$3.20B$3.23B
Short-term Investments$2.51B$2.06B$2.51B$3.69B$4.12B$2.53B$1.60B$1.49B$1.74B$1.75B$1.94B$2.55B$2.20B$2.34B$2.22B$2.34B$2.81B$1.79B$2.95B$3.46B$5.11B$6.02B$5.61B$4.38B$1.66B
Receivables$1.20B$1.22B$1.45B$1.70B$1.65B$1.77B$1.74B$913.0M$1.28B$1.52B$1.54B$1.23B$1.20B$1.25B$1.17B$1.27B$1.28B$1.21B$1.07B$1.41B$1.70B$1.90B$1.79B$1.72B$1.96B
Inventory$751.0M$790.0M$984.0M$1.26B$1.27B$1.44B$1.42B$1.38B$1.20B$1.52B$1.79B$1.76B$1.73B$1.78B$1.69B$1.79B$1.96B$2.22B$2.00B$1.96B$1.91B$2.76B$4.00B$4.53B$4.80B
Total Current Assets$5.78B$6.13B$7.71B$10.19B$9.41B$7.85B$6.92B$5.79B$6.11B$7.06B$7.83B$8.23B$8.02B$7.77B$7.07B$7.46B$8.73B$8.10B$8.76B$10.24B$13.69B$14.02B$15.12B$15.03B$13.75B
Property, Plant & Equipment$5.59B$4.79B$4.13B$3.92B$3.90B$3.95B$3.61B$3.30B$3.16B$3.68B$4.43B$3.91B$3.40B$2.84B$2.60B$2.51B$2.66B$3.18B$3.30B$3.27B$5.14B$6.88B$10.00B$11.35B$12.32B
Goodwill$748.0M0000$792.0M$838.0M$840.0M$926.0M$924.0M$4.45B$4.36B$4.36B$4.36B$4.36B$4.36B$4.36B$4.36B$4.36B$4.36B$4.36B$4.36B$4.36B$4.36B$4.33B
Intangible Assets0$823.0M$862.0M$812.0M$777.0M$306.0M$342.0M$273.0M$243.0M$281.0M$3.11B$2.70B$2.34B$1.99B$1.63B$1.32B$1.06B$717.0M$409.0M$274.0M$85.0M$152.0M$223.0M$257.0M$238.0M
Total Assets$15.78B$14.68B$15.51B$16.30B$15.06B$13.93B$12.67B$11.92B$12.12B$13.40B$20.50B$20.06B$18.94B$17.72B$16.23B$16.43B$17.64B$17.14B$18.02B$19.35B$24.68B$27.21B$32.35B$35.51B$34.59B
Accounts Payable$1.21B$511.0M$1.50B$552.0M$702.0M$560.0M$657.0M$324.0M$503.0M$621.0M$625.0M$444.0M$422.0M$437.0M$386.0M$396.0M$466.0M$478.0M$388.0M$415.0M$571.0M$851.0M$802.0M$820.0M$756.0M
Short-term Debt$38.0M$422.0M$437.0M$11.0M$301.0M$43.0M0000$1.38B$1.50B$1.00B$1.00B$1.00B$631.0M$500.0M$749.0M$500.0M$550.0M$500.0M$575.0M$687.0M$868.0M$619.0M
Total Current Liabilities$1.58B$1.93B$2.20B$1.93B$2.38B$2.08B$2.02B$1.53B$1.59B$1.98B$3.50B$3.43B$2.75B$2.66B$2.56B$2.26B$2.26B$2.47B$2.12B$2.39B$2.57B$2.98B$3.32B$3.64B$3.16B
Long-term Debt$1.21B$833.0M$395.0M$368.0M$329.0M00000$4.21B$4.19B$4.16B$3.64B$3.12B$2.98B$3.58B$4.32B$5.30B$6.25B$7.24B$8.58B$11.10B$13.51B$14.16B
Total Liabilities$3.90B$3.94B$3.65B$3.24B$3.13B$2.57B$2.69B$2.60B$2.40B$2.96B$9.54B$9.10B$8.13B$7.33B$6.28B$5.96B$7.30B$8.14B$9.11B$10.16B$11.34B$12.63B$15.45B$18.61B$18.31B
Retained Earnings$8.97B$8.48B$9.54B$11.24B$13.39B$17.53B$19.79B$21.17B$22.07B$24.70B$26.28B$27.20B$28.17B$29.65B$31.18B$33.11B$34.66B$37.91B$39.90B$42.05B$45.92B$50.35B$52.28B$52.26B$52.24B
Total Equity$11.88B$10.73B$11.86B$13.06B$11.94B$11.36B$9.97B$9.33B$9.72B$10.44B$10.95B$10.96B$10.81B$10.39B$9.95B$10.47B$10.34B$8.99B$8.91B$9.19B$13.33B$14.58B$16.90B$16.90B$16.27B
Total Debt$1.25B$1.25B$832.0M$379.0M$630.0M$43.0M0000$5.59B$5.69B$5.16B$4.64B$4.12B$3.61B$4.08B$5.07B$6.13B$7.12B$8.21B$9.50B$12.27B$15.04B$15.39B
Net Debt-$1.70B-$1.76B-$3.50B-$5.98B-$4.71B-$3.67B-$2.92B-$2.54B-$2.92B-$3.07B$2.66B$1.72B$1.33B$1.10B$902.0M$119.0M-$392.0M$835.0M$748.0M$551.0M-$1.53B$431.0M$3.69B$7.46B$10.51B
Working Capital$4.20B$4.19B$5.51B$8.27B$7.04B$5.78B$4.89B$4.26B$4.53B$5.08B$4.33B$4.80B$5.27B$5.11B$4.52B$5.19B$6.48B$5.62B$6.64B$7.85B$11.12B$11.04B$11.80B$11.38B$10.59B

Balance Sheet (Quarterly)

Year2025-Q42026-Q12026-Q22026-Q3
Cash & Equivalents$3.23B$3.55B$3.66B$4.21B
Total Assets$34.59B$34.39B$35.88B$36.84B
Total Liabilities$18.31B$17.61B$17.88B$17.65B
Total Equity$16.27B$16.78B$18.01B$19.18B
Total Debt$15.39B$14.05B$14.05B$13.55B

Cash Flow (10y)

Year2001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025
Net Income-$201.0M-$344.0M$1.20B$1.86B$2.32B$2.64B$2.66B$1.92B$1.47B$3.23B$2.24B$1.76B$2.16B$2.82B$2.99B$3.60B$3.68B$5.58B$5.02B$5.59B$7.77B$8.75B$6.51B$4.80B$5.00B
Depreciation & Amortization$1.83B$1.69B$1.53B$1.55B$1.53B$1.22B$1.07B$1.06B$925.0M$913.0M$1.01B$1.30B$1.30B$1.23B$1.13B$955.0M$904.0M$954.0M$1.05B$992.0M$954.0M$979.0M$1.24B$1.58B$2.00B
Stock-based Compensation0000000$213.0M$186.0M$190.0M$269.0M$263.0M$287.0M$277.0M$286.0M$252.0M$242.0M$232.0M$217.0M$224.0M$230.0M$289.0M$362.0M$387.0M$419.0M
Change in Working Capital$241.0M-$120.0M-$313.0M-$401.0M-$66.0M-$1.25B$420.0M$355.0M-$112.0M-$147.0M-$140.0M$331.0M-$282.0M-$223.0M$94.0M$153.0M$418.0M$602.0M$313.0M-$428.0M-$165.0M-$813.0M-$1.10B-$111.0M-$271.0M
Operating Cash Flow$1.82B$1.99B$2.15B$3.15B$3.77B$2.46B$4.41B$3.33B$2.64B$3.82B$3.26B$3.41B$3.38B$3.89B$4.27B$4.61B$5.36B$7.19B$6.65B$6.14B$8.76B$8.72B$6.42B$6.32B$7.15B
Capital Expenditure-$1.79B-$802.0M-$800.0M-$1.30B-$1.33B-$1.27B-$686.0M-$763.0M-$753.0M-$1.20B-$816.0M-$495.0M-$412.0M-$385.0M-$551.0M-$531.0M-$695.0M-$1.13B-$847.0M-$649.0M-$2.46B-$2.80B-$5.07B-$4.82B-$4.55B
Acquisitions0-$69.0M-$128.0M-$8.0M-$19.0M-$205.0M-$87.0M-$19.0M-$155.0M-$199.0M-$5.42B0$412.0M00-$1.06B$40.0M$1.13B$847.0M$649.0M$2.46B$3.0M000
Stock Repurchased-$395.0M-$370.0M-$284.0M-$753.0M-$4.15B-$5.30B-$4.89B-$2.12B-$954.0M-$2.45B-$1.97B-$1.80B-$2.87B-$2.83B-$2.74B-$2.13B-$2.56B-$5.10B-$2.96B-$2.55B-$527.0M-$3.62B-$293.0M-$929.0M-$1.48B
Dividends Paid-$147.0M-$147.0M-$147.0M-$154.0M-$173.0M-$199.0M-$425.0M-$537.0M-$567.0M-$592.0M-$644.0M-$819.0M-$1.18B-$1.32B-$1.44B-$1.65B-$2.10B-$2.56B-$3.01B-$3.43B-$3.89B-$4.30B-$4.56B-$4.79B-$5.00B
Free Cash Flow$29.0M$1.19B$1.35B$1.85B$2.44B$1.19B$3.72B$2.57B$1.89B$2.62B$2.44B$2.92B$2.97B$3.51B$3.72B$4.08B$4.67B$6.06B$5.80B$5.49B$6.29B$5.92B$1.35B$1.50B$2.60B

Cash Flow (Quarterly)

Year2025-Q42026-Q12026-Q22026-Q3
Operating Cash Flow$2.25B$1.52B$2.70B$3.42B
Capital Expenditure-$925.0M-$676.0M-$514.0M-$463.0M
Free Cash Flow$1.33B$844.0M$2.19B$2.96B
Dividends Paid-$1.29B-$1.29B-$1.29B-$1.30B
Stock-based Compensation$210.0M$109.0M$127.0M$95.0M

Growth & Margins (10y)

Year2016201720182019202020212022202320242025
Revenue Growth (YoY)+11.9%+5.5%-8.9%+0.5%+26.9%+9.2%-12.5%-10.7%+13.0%
Net Income Growth (YoY)+2.4%+51.5%-10.1%+11.5%+38.9%+12.6%-25.6%-26.3%+4.2%
EPS Growth (YoY)+4.0%+55.2%-6.7%+13.5%+38.5%+13.5%-25.0%-26.5%+4.0%
Shares Change (YoY)-0.9%-2.2%-3.8%-2.0%+0.3%-1.1%-1.1%+0.3%-0.7%
FCF Growth (YoY)+4,003.4%+13.5%+36.8%+32.1%-51.4%+213.1%-31.0%-26.4%+38.7%-6.9%+19.6%+1.8%+18.0%+6.0%+9.8%+14.3%+29.8%-4.2%-5.4%+14.6%-5.9%-77.2%+11.0%+73.8%
Gross Margin61.6%64.3%65.1%63.7%64.1%67.5%68.8%62.9%58.1%57.0%
Operating Margin36.3%40.7%42.5%39.8%40.8%48.8%50.6%41.8%34.9%34.1%
EBITDA Margin44.6%47.2%49.2%48.3%49.8%54.8%56.0%51.4%48.2%46.7%
Net Margin26.9%24.6%35.4%34.9%38.7%42.4%43.7%37.2%30.7%28.3%
FCF Margin30.5%31.2%38.4%40.3%38.0%34.3%29.6%7.7%9.6%14.7%
Effective Tax Rate27.1%39.4%16.5%12.4%7.0%12.9%12.8%12.2%12.0%12.4%

Per-Share Data (10y)

Year2016201720182019202020212022202320242025
FCF Per Share$4.00$4.61$6.12$6.09$5.88$6.72$6.40$1.47$1.63$2.85
Dividends Per Share$1.61$2.08$2.58$3.16$3.67$4.15$4.64$4.97$5.22$5.48
Shares Outstanding (Basic)996.0 M991.0 M970.0 M936.0 M921.0 M923.0 M916.0 M908.0 M912.0 M909.0 M

What to look at in Technology companies

Profitability

Return on Equity40.51%
Return on Invested Capital21.49%
Return on Assets19.31%
Gross Margin60.24%
Operating Margin40.76%
Net Margin34.25%

Financial Health

Debt / Equity0.71
Current Ratio5.59
Piotroski F-Score7
Altman Z-Score8.74

Key Ratios (10y)

Year2001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025
P/E-233.33-75.0547.3922.8022.5810.1417.7710.5622.4712.2215.2420.1922.6320.4919.1620.6128.3816.5524.0727.1322.4917.3723.9135.7831.83
P/B3.952.414.793.264.413.874.742.183.383.733.063.194.465.395.576.9410.0110.1913.4816.4513.0510.389.1610.129.69
P/S5.723.085.773.393.933.093.421.623.152.792.442.733.954.294.265.446.925.818.3510.459.487.568.8310.938.92
Gross Margin29.0%36.6%40.3%44.7%47.5%50.9%53.0%50.0%47.9%53.6%49.3%49.7%52.1%56.9%58.2%61.6%64.3%65.1%63.7%64.1%67.5%68.8%62.9%58.1%57.0%
Operating Margin-7.1%3.4%9.8%17.5%20.8%23.6%25.3%21.9%21.2%32.3%25.3%15.4%23.2%30.3%32.9%36.3%40.7%42.5%39.8%40.8%48.8%50.6%41.8%34.9%34.1%
Net Margin-2.5%-4.1%12.2%14.8%17.4%30.5%19.2%15.4%14.1%23.1%16.0%13.7%17.4%21.6%23.0%26.9%24.6%35.4%34.9%38.7%42.4%43.7%37.2%30.7%28.3%

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Explore sector: Technology · Semiconductors

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