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Texas Instruments Incorporated

TXN Technology Semiconductors

Texas Instruments Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $17.7 billion, up 13.0% from fiscal 2024. In the quarter to June 2026, revenue grew 22.8%, EPS grew 51.8%, free cash flow grew 300.2% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; dividend growth for twenty-five consecutive years.

279.77 4.88 −1.71%
Market cap
$255.3B
P/E
42.1×
Fwd P/E
32.5×
Dividend yield
2.57%
F-score
7/9
Altman Z
8.74
Beneish M
−2.67
Dividend safety
43/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K
Impairment
All filings →

Insider Decisions trades per month

Total sells 119.03
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 2 — — 7 — 12 7 — — 1 — —
Insider Ownership 0.18%

Capital & Financial Ratios $m

Market Cap 255,250.00
Revenue 19,453.00
Net Income 6,052.00
Free Cash Flow 5,393.00
Net Debt 7,051.00
Current Ratio 4.86 (at or above 1.5: strong)
Debt/Equity 0.78
P/E ratio 42.13 (above 35: high)
Fwd P/E 32.50
P/S ratio 13.12 (above 10: high)
P/B ratio 14.17 (above 6: high)
Past 5Y EPS Growth (1.81%) (below 0%: weak)
This Y EPS Growth 65.37% (at or above 15%: strong)
Next Y EPS Growth 28.16% (at or above 15%: strong)
Next Y revenue growth 24.01% (at or above 10%: strong)
Next 5Y EPS Growth 34.84% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 13.5×, against a ten-year median of 8.2×; over the ten years it ranged from 4.3× in 2016 to 15.6× in 2026.
P/E against its own 10 years 97.02%
10-year low 10-year high
P/S against its own 10 years 97.06%
10-year low 10-year high
P/B against its own 10 years 81.89%
10-year low 10-year high
EV/Sales against its own 10 years 97.02%
10-year low 10-year high
EV/FCF against its own 10 years 72.25%
10-year low 10-year high

Dividends

Payout Ratio 1.10
Annual Dividend Rate 7.20
Annual Dividend Yield 2.57%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 5.78
1.42
1.42
1.42
1.52
2025 5.50
1.36
1.36
1.36
1.42
2024 5.26
1.30
1.30
1.30
1.36
2023 5.02
1.24
1.24
1.24
1.30
2022 4.69
1.15
1.15
1.15
1.24
2021 4.21
1.02
1.02
1.02
1.15
2020 3.72
0.90
0.90
0.90
1.02
2019 3.21
0.77
0.77
0.77
0.90
2018 2.63
0.62
0.62
0.62
0.77
2017 2.12
0.50
0.50
0.50
0.62
2016 1.64
0.38
0.38
0.38
0.50
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 8,575 7,580 4,881 7,001
Receivables 1,787 1,719 1,963 2,520
Inventory 3,999 4,527 4,804 4,605
Other — — — —
15,122 15,026 13,750 15,757
2023 2024 2025 Q'26
Payables 802 820 756 680
ST’ Debt 599 750 500 1,149
Other — — — —
3,320 3,643 3,159 3,244

Compound Annual Growth %

10y 5y 3y
Sales 3.12% 4.10% (4.07%)
Cash Flow 4.99% 3.10% (6.39%)
Earnings 5.23% (2.23%) (17.04%)
Book Value 5.05% 12.11% 3.74%

Revenue $m

Mar Jun Sep Dec Year
’26 4,825 5,463 — — —
’25 4,069 4,448 4,742 4,423 17,682
’24 3,661 3,822 4,151 4,007 15,641
’23 4,379 4,531 4,532 4,077 17,519
’22 4,905 5,212 5,241 4,670 20,028
’21 4,289 4,580 4,643 4,832 18,344
’20 3,329 3,239 3,817 4,076 14,461
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,520 2,703 — — —
’25 849 1,860 2,190 2,254 7,153
’24 1,017 1,571 1,732 1,998 6,318
’23 1,160 1,399 1,937 1,924 6,420
’22 2,144 1,768 2,766 2,042 8,720
’21 1,850 2,121 2,428 2,357 8,756
’20 851 1,720 1,443 2,125 6,139
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 849 2,221 — — —
’25 (274) 555 994 1,329 2,604
’24 (39) 509 416 807 1,693
’23 179 (46) 443 776 1,352
’22 1,703 1,172 1,976 1,075 5,926
’21 1,543 1,738 1,945 1,143 6,369
’20 690 1,591 1,299 1,914 5,494
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.68 2.14 — — —
’25 1.28 1.41 1.48 1.27 5.45
’24 1.20 1.22 1.47 1.30 5.20
’23 1.85 1.87 1.85 1.49 7.07
’22 2.35 2.45 2.47 2.13 9.41
’21 1.87 2.05 2.07 2.27 8.26
’20 1.24 1.48 1.45 1.80 5.97
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Price, $
Price, $ Low 46.73 72.47 87.70 88.68 93.09 160.76 144.46 139.48 155.46 139.95 +13.0% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
High 75.25 105.33 120.75 132.20 167.24 202.26 192.10 188.12 220.39 221.69 +12.8% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
People
People Employees 29,865 29,714 29,888 29,768 30,000 31,000 33,000 34,000 34,000 33,000 +1.1% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Revenue/emp, $m 0.45 0.50 0.53 0.48 0.48 0.59 0.61 0.52 0.46 0.54 +2.0% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Income, $m
Income, $m Revenue 13,370 14,961 15,784 14,383 14,461 18,344 20,028 17,519 15,641 17,682 +3.2% 21,928 24,990 27,627 +16.0%
Gross margin, % 61.76 64.26 65.11 63.71 64.10 67.47 68.76 62.90 58.14 57.02 (4.7) pt
EBT 4,930 6,080 6,686 5,728 6,017 8,919 10,032 7,418 5,453 5,710 +1.6%
EBT margin, % 36.87 40.64 42.36 39.82 41.61 48.62 50.09 42.34 34.86 32.29 (4.6) pt
Net income 3,595 3,682 5,580 5,017 5,595 7,769 8,749 6,510 4,799 5,001 +3.7%
Depreciation 955 904 954 1,050 992 954 979 1,238 1,580 1,999 +8.6%
Per share, $
Per share, $ Revenue 13.33 15.10 16.27 15.37 15.70 19.87 21.86 19.29 17.15 19.45 +4.3%
Earnings 3.48 3.61 5.71 5.33 6.07 8.42 9.55 7.17 5.26 5.50 +5.2%
Cash flow 4.60 5.41 7.41 7.10 6.67 9.49 9.52 7.07 6.93 7.87 +6.1%
Capex (0.53) (0.66) (1.16) (0.87) (0.70) (2.59) (3.05) (5.58) (5.07) (5.00) +28.4%
Free cash flow 4.07 4.75 6.25 6.23 5.97 6.90 6.47 1.49 1.86 2.86 (3.8%)
Book value 10.44 10.43 9.27 9.52 9.98 14.45 15.91 18.61 18.53 17.90 +6.2%
Shares, m 1,003 991 970 936 921 923 916 908 912 909 (1.1%)
Valuation, ×
Valuation, × P/E 21.83 28.61 16.43 23.98 26.95 22.44 17.11 23.67 35.72 31.49 24.8
P/S 5.52 6.99 5.81 8.35 10.45 9.48 7.46 8.77 10.93 8.92 8.3
P/B 7.05 10.12 10.19 13.48 16.45 13.05 10.26 9.10 10.12 9.69 11.0
EV/Sales 5.53 6.97 5.86 8.38 10.47 9.37 7.45 8.92 11.32 9.44 8.4
EV/FCF 18.10 22.14 15.25 20.66 27.56 27.00 25.17 115.63 104.56 64.08 44.0
Cash, $m
Cash, $m Operating cash flow 4,614 5,363 7,189 6,649 6,139 8,756 8,720 6,420 6,318 7,153 +5.0%
Capex (531) (655) (1,122) (817) (645) (2,387) (2,794) (5,068) (4,625) (4,549) +27.0%
Free cash flow 4,083 4,708 6,067 5,832 5,494 6,369 5,926 1,352 1,693 2,604 (4.9%)
Balance, $m
Balance, $m Working capital 5,193 6,476 5,623 6,638 7,849 11,116 11,036 11,802 11,383 10,591 +8.2%
Total debt 3,609 4,077 5,068 5,803 6,798 7,741 8,735 11,223 13,596 14,048 +16.3%
Net debt 119 (392) 835 416 230 (1,998) (332) 2,648 6,016 9,167 +62.0%
Shareholders’ equity 10,473 10,337 8,994 8,907 9,187 13,333 14,577 16,897 16,903 16,273 +5.0%
Returns, %
Returns, % ROA 22.01 21.41 31.84 28.36 29.80 35.14 33.58 21.75 14.07 14.19 (7.8) pt
ROIC 28.65 38.23 42.69 38.37 39.12 49.40 44.49 23.44 14.90 14.80 (13.8) pt
ROE 35.21 35.06 57.29 55.70 61.55 68.70 62.41 41.16 28.25 29.98 (5.2) pt
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 1.91 Actual 2.14

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 1.47 1.48 Beat by 0.01
Q4 FY25 1.30 1.27 Miss by 0.03
Q1 FY26 1.37 1.68 Beat by 0.31
Q2 FY26 1.91 2.14 Beat by 0.23
Q3 FY26 2.40 — Reports 21 October 2026

Charts ten years each

Texas Instruments Incorporated vs peers in Semiconductors (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MU Micron Technology, Inc. $1.03T 11.4× 5.1× +379.27% (above 0%: growing) +1,066.43% (above 0%: growing) +45,543.06% (above 0%: growing) 86.76% 80.68% Compare
AMD Advanced Micro Devices, Inc. $902.3B 129× 35.9× +50.11% (above 0%: growing) +161.11% (above 0%: growing) −8.73% (below 0%: shrinking) 53.77% 17.25% Compare
INTC Intel Corporation $491.4B — (loss-making) — (loss-making) +25.42% (above 0%: growing) n/m +396.67% (above 0%: growing) 40.36% 11.14% Compare
TXN Texas Instruments Incorporated $260.0B 42.1× 32.5× +22.82% (above 0%: growing) +51.75% (above 0%: growing) +300.18% (above 0%: growing) 61.36% 42.28%
ARM ARM Holdings PLC Sponsored ADR $242.0B 217× 182× +22.41% (above 0%: growing) +108.33% (above 0%: growing) +305.85% (above 0%: growing) 97.21% 7.06% Compare
MRVL Marvell Technology, Inc. $214.6B 72.7× 127× +36.55% (above 0%: growing) +47.83% (above 0%: growing) +14.45% (above 0%: growing) 53.14% 16.78% Compare
ADI Analog Devices, Inc. $196.7B 45.9× — (loss-making) +39.63% (above 0%: growing) +162.86% (above 0%: growing) +34.29% (above 0%: growing) 67.32% 40.10% Compare
QCOM QUALCOMM Incorporated $190.0B 19.8× 13.8× −4.03% (below 0%: shrinking) −22.54% (below 0%: shrinking) −80.82% (below 0%: shrinking) 53.05% 16.35% Compare
ASX ASE Technology Holding Co., Ltd. $93.3B 42.3× 34.9× +23.62% (above 0%: growing) +172.73% (above 0%: growing) −338.02% (below 0%: shrinking) 21.01% 11.06% Compare
Median of peers $228.3B 45.9× 35.4× +30.98% +161.11% +24.37% 53.46% 16.57%

All 68 Semiconductors stocks →

TXN metrics, ten years each

Texas Instruments Incorporated (TXN) key facts

  • Strength: Texas Instruments Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $17.7 billion, up 13.0% from fiscal 2024.
  • Strength: Net income was $5.0 billion, or $5.50 per share (basic), a net margin of 28.1%.
  • Texas Instruments Incorporated (TXN) is a Semiconductors company in the Technology sector, listed on Nasdaq.
  • As of October 22, 2026, TXN traded at $279.77, a market capitalization of $255.3 billion.
  • At that price the stock trades at 42.1× trailing-twelve-month earnings and 13.1× sales; its P/E is higher than 97% of its own readings over the past ten years.
  • Texas Instruments Incorporated pays an annual dividend of $7.20 per share, a yield of 2.57%, with a payout ratio of 109.6%.
  • Return on equity was 30.0% and debt-to-equity 0.78.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 8.74 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Financial Analysis (summary)

Updated

Texas Instruments reported $17.7 billion of revenue, $5.0 billion of net income and $5.45 of diluted EPS in FY2025. Revenue grew 13.0% in FY2025 against FY2024, while free cash flow was $2.6 billion in FY2025 amid $4.5 billion of capital expenditure.

In Q2 FY2026, revenue was $5.5 billion, net income was $2.0 billion and diluted EPS was $2.14. Revenue, earnings and free cash flow increased from both Q1 FY2026 and Q2 FY2025, while net debt declined to $7.1 billion in Q2 FY2026.

Texas Instruments Incorporated (TXN) Latest News

18 Jun

Impact 5 ·
stockrow.com/TXN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com