TXNNasdaqSemiconductors & Related DevicesFiscal year ends December 31
TEXAS INSTRUMENTS INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 24, 2026
$276.15−0.33 (-0.12%)
Close on Oct 19, 2026
- Market cap
- $254.06B
- P/E (TTM)
- 42.0
- Dividend yield
- 1.99%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
57.0%−7.1 pts over 5 years
Operating margin
34.1%−6.7 pts over 5 years
Net margin
28.3%−10.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +13.0% | -4.1% | +4.1% | +3.1% | |
| Gross profit | +10.9% | -9.9% | +1.7% | +2.9% | |
| Operating income | +10.2% | -15.9% | +0.4% | +3.4% | |
| Net income | +4.2% | -17.0% | -2.2% | +5.3% | |
| EPS, diluted | +4.8% | -16.6% | -1.8% | +6.8% | |
| Free cash flow | +73.8% | -24.0% | -13.9% | -3.8% | |
| Dividend per share | +4.6% | +5.5% | +8.1% | +14.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 35.2% | 61.8% | 30.1% | |
| Return on assets | 22.0% | 29.9% | 14.3% | |
| Current ratio | 3.29 | 4.28 | 4.35 | |
| Debt to equity | 0.34 | 0.74 | 0.86 | |
| Inventory turnover | 2.9× | 2.6× | 1.6× | |
| Capex to revenue | 4.0% | 4.5% | 25.7% | |
| Diluted shares | 1.02B | 933M | 913M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Texas Instruments generated $37.37B from operations and spent $49.08B on capital expenditure, dividends and share buybacks. 40% of that went back into the business.
Generated
$37.37B
Used
$49.08B
Capital expenditure$19.70B40%Dividends$22.53B46%Share buybacks$6.84B14%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin28.3%
×Asset turnover0.50×
×Equity multiplier2.11×
=Return on equity, FY202530.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 28.3% | 0.50× | 2.11× | 30.1% |
| FY2024 | 30.7% | 0.46× | 2.01× | 28.4% |
| FY2023 | 37.2% | 0.59× | 1.89× | 41.4% |
| FY2022 | 43.7% | 0.77× | 1.86× | 62.7% |
| FY2021 | 42.4% | 0.83× | 1.96× | 69.0% |
| FY2020 | 38.7% | 0.77× | 2.07× | 61.8% |
| FY2019 | 34.9% | 0.82× | 1.96× | 56.1% |
| FY2018 | 35.4% | 0.91× | 1.80× | 57.7% |
| FY2017 | 24.6% | 0.88× | 1.64× | 35.4% |
| FY2016 | 26.9% | 0.82× | 1.60× | 35.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$5.00B
- Cash generatingOperating cash flow above zero$7.15B
- Return on assets improvedROA up on the prior year14.8% → 14.1%
- Earnings backed by cashOperating cash flow above net income$7.15B vs $5.00B
- Less leverageLong-term debt to assets fell36.2% → 39.2%
- Better liquidityCurrent ratio rose4.12 → 4.35
- No dilutionShare count did not rise919M → 913M
- Gross margin improvedGross margin up on the prior year58.14% → 57.02%
- More efficientAsset turnover rose0.48 → 0.50