TXN
SP100NasdaqGSTexas Instruments Incorporated
Technology · Semiconductors · United States
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers in the United States, China, the rest of Asia, Europe, the Middle East, Africa, Japan, and internationally. It operates through Analog and Embedded Processing segments. The Analog segment offers power products to manage power requirements across various voltage levels, including battery-management solutions, DC/DC switching regulators, AC/DC and isolated controllers and converters, power switches, linear regulators, voltage references, multiphase controllers and power stages, and lighting products. This segment also provides signal chain products that sense, condition, and measure real-world signals and convert them into data to be transferred or converted for further processing and control, such as amplifiers, data converters, interface products, motor drives, clocks, and logic and sensing products. The Embedded Processing segment offers microcontrollers, processors, wireless connectivity, and radar products; and applications processors for specific computing activity. It also provides DLP products primarily for use in projecting high-definition images; calculators; and application-specific integrated circuits. Its products are used in various markets, such as industrial, automotive, personal electronics, communications equipment, enterprise systems, calculators, and others. The company markets and sells its semiconductor products through direct sales and distributors, as well as through its website. Texas Instruments Incorporated was founded in 1930 and is headquartered in Dallas, Texas.
www.ti.com ↗Shares trade at a premium 50.0× trailing earnings, easing to 30.6× on forward estimates. Profitability shows a net margin of 29.1% and return on equity of 32.3%. Leverage is modest at 1.0× net debt/EBITDA. Revenue grew 18.6% year-on-year. It yields 1.9% in dividends. The mean analyst target of USD298.00 sits 1.7% above the current price (Buy, 32 analysts).
business model
Texas Instruments designs and manufactures analog and embedded processing semiconductors used across virtually all electronic equipment. It emphasizes internal manufacturing (owning 300mm wafer fabs) and a broad catalog of long-life-cycle chips sold to a highly diversified customer base.
revenue segments
Two core segments: Analog (power management and signal chain products, the majority of revenue) and Embedded Processing (microcontrollers and processors), plus a smaller Other category including DLP products and calculators.
key dependencies
Depends on its owned fab and packaging capacity (heavily investing in 300mm capacity), cyclical demand from industrial and automotive end markets, catalog breadth, and disciplined capital allocation. End-market mix has shifted toward industrial and automotive.
competitors
Competes with Analog Devices, Infineon, STMicroelectronics, NXP, Microchip, ON Semiconductor and Renesas across analog and embedded chips.
moat
Massive catalog of tens of thousands of long-lived products, low-cost internal 300mm manufacturing, a broad and sticky direct customer base, sales-channel reach, and diversification that reduces reliance on any single customer or product.
risks
Semiconductor cyclicality and inventory corrections, heavy capital spending that pressures near-term free cash flow, exposure to industrial and automotive demand swings, China competition and geopolitical/tariff risk, and pricing pressure during downturns.
Financials & metrics
as of 23 Aug 2026Price is around the middle of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
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Full financial statements
Income statement
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total revenue | $17.68B | $15.64B | $17.52B | $20.03B | — |
| Cost of revenue | $7.60B | $6.55B | $6.50B | $6.26B | — |
| Gross profit | $10.08B | $9.09B | $11.02B | $13.77B | — |
| Operating expense | $3.94B | $3.75B | $3.69B | $3.37B | — |
| R&D | $2.08B | $1.96B | $1.86B | $1.67B | — |
| Operating income | $6.14B | $5.34B | $7.33B | $10.40B | — |
| Interest expense | $543.00M | $508.00M | $353.00M | $214.00M | — |
| Pretax income | $5.71B | $5.45B | $7.42B | $10.03B | — |
| Tax provision | $709.00M | $654.00M | $908.00M | $1.28B | — |
| Net income | $5.00B | $4.80B | $6.51B | $8.75B | — |
| EBITDA | $8.25B | $7.54B | $9.01B | $11.22B | — |
| Diluted EPS | $5.45 | $5.20 | $7.07 | $9.41 | — |
Balance sheet
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | $34.59B | $35.51B | $32.35B | $27.21B | — |
| Current assets | $13.75B | $15.03B | $15.12B | $14.02B | — |
| Cash & equivalents | $3.23B | $3.20B | $2.96B | $3.05B | — |
| Inventory | $4.80B | $4.53B | $4.00B | $2.76B | — |
| Total liabilities | $18.31B | $18.61B | $15.45B | $12.63B | — |
| Current liabilities | $3.16B | $3.64B | $3.32B | $2.98B | — |
| Total debt | $14.05B | $13.60B | $11.22B | $8.73B | — |
| Long-term debt | $13.55B | $12.85B | $10.62B | $8.23B | — |
| Shareholders' equity | $16.27B | $16.90B | $16.90B | $14.58B | — |
| Retained earnings | $52.24B | $52.26B | $52.28B | $50.35B | — |
| Working capital | $10.59B | $11.38B | $11.80B | $11.04B | — |
Cash flow
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating cash flow | $7.15B | $6.32B | $6.42B | $8.72B | — |
| Investing cash flow | -$1.44B | -$3.20B | -$4.36B | -$3.58B | — |
| Financing cash flow | -$5.69B | -$2.88B | -$2.14B | -$6.72B | — |
| Capital expenditure | -$4.55B | -$4.82B | -$5.07B | -$2.80B | — |
| Free cash flow | $2.60B | $1.50B | $1.35B | $5.92B | — |
| Dividends paid | -$5.00B | -$4.79B | -$4.56B | -$4.30B | — |
| Share buybacks | -$1.48B | -$929.00M | -$293.00M | -$3.62B | — |
| End cash position | $3.23B | $3.20B | $2.96B | $3.05B | — |
Reported figures from public filings via Yahoo Finance. Line coverage varies by company. Not investment advice.
Dividends
Analyst assessment
as of 23 Aug 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.
Technicals
as of 21 Aug 2026News
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