Texas Instrument Financials
This page shows Texas Instrument (TXN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Texas Instruments remains a high-margin chip maker, but cash now hinges on digesting an unusually heavy investment cycle.
In FY2025, free cash flow was only$2.6B against dividends paid of$5.0B , so the payout was being carried through the buildout rather than funded by surplus cash left after reinvestment. That helps explain why long-term debt rose from$8.2B in FY2022 to$13.5B even though the business stayed profitable: expansion spending and shareholder returns are now drawing on the same cash pool.
Revenue rebounded from
Inventory rose from
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Texas Instrument's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Texas Instrument has an operating margin of 34.1%, meaning the company retains $34 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 34.9% the prior year.
Texas Instrument's revenue grew 13.0% year-over-year to $17.7B, a solid pace of expansion. This earns a growth score of 34/100.
Texas Instrument carries a low D/E ratio of 0.83, meaning only $0.83 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 85/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.35, Texas Instrument holds $4.35 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 86/100.
Texas Instrument has a free cash flow margin of 14.7%, earning a moderate score of 54/100. The company generates positive cash flow after capital investments, but with room for improvement.
Texas Instrument earns a strong 30.7% return on equity (ROE), meaning it generates $31 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 81/100. This is up from 28.4% the prior year.
Texas Instrument scores 12.76, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($280.5B) relative to total liabilities ($18.3B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Texas Instrument passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Texas Instrument generates $1.43 in operating cash flow ($7.2B OCF vs $5.0B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Texas Instrument earns $11.1 in operating income for every $1 of interest expense ($6.0B vs $543.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Texas Instrument generated $17.7B in revenue in fiscal year 2025. This represents an increase of 13.0% from the prior year.
Texas Instrument's EBITDA was $7.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 13.9% from the prior year.
Texas Instrument reported $5.0B in net income in fiscal year 2025. This represents an increase of 4.2% from the prior year.
Texas Instrument earned $5.45 per diluted share (EPS) in fiscal year 2025. This represents an increase of 4.8% from the prior year.
Cash & Balance Sheet
Texas Instrument generated $2.6B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 73.8% from the prior year.
Texas Instrument held $3.2B in cash against $13.5B in long-term debt as of fiscal year 2025.
Texas Instrument paid $5.50 per share in dividends in fiscal year 2025. This represents an increase of 4.6% from the prior year.
Texas Instrument had 908M shares outstanding in fiscal year 2025. This represents a decrease of 0.3% from the prior year.
Margins & Returns
Texas Instrument's gross margin was 57.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.1 percentage points from the prior year.
Texas Instrument's operating margin was 34.1% in fiscal year 2025, reflecting core business profitability. This is down 0.9 percentage points from the prior year.
Texas Instrument's net profit margin was 28.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.4 percentage points from the prior year.
Texas Instrument's ROE was 30.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.3 percentage points from the prior year.
Capital Allocation
Texas Instrument invested $2.1B in research and development in fiscal year 2025. This represents an increase of 6.3% from the prior year.
Texas Instrument spent $1.5B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 59.0% from the prior year.
Texas Instrument invested $4.5B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 5.6% from the prior year.
TXN Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.8B+9.1% | $4.4B-6.7% | $4.7B+6.6% | $4.4B+9.3% | $4.1B+1.5% | $4.0B-3.5% | $4.2B+8.6% | $3.8B |
| Cost of Revenue | $2.0B+3.8% | $2.0B-3.4% | $2.0B+7.8% | $1.9B+6.7% | $1.8B+3.7% | $1.7B+1.0% | $1.7B+4.1% | $1.6B |
| Gross Profit | $2.8B+13.2% | $2.5B-9.2% | $2.7B+5.7% | $2.6B+11.3% | $2.3B0.0% | $2.3B-6.5% | $2.5B+11.9% | $2.2B |
| R&D Expenses | $510.0M-2.1% | $521.0M+0.6% | $518.0M-1.7% | $527.0M+1.9% | $517.0M+5.3% | $491.0M-0.2% | $492.0M-1.2% | $498.0M |
| SG&A Expenses | $464.0M+4.0% | $446.0M-2.4% | $457.0M-5.8% | $485.0M+2.8% | $472.0M+5.8% | $446.0M+4.2% | $428.0M-8.0% | $465.0M |
| Operating Income | $1.8B+22.7% | $1.5B-11.4% | $1.7B+6.4% | $1.6B+18.1% | $1.3B-3.8% | $1.4B-11.4% | $1.6B+24.5% | $1.2B |
| Interest Expense | $141.0M0.0% | $141.0M0.0% | $141.0M+6.0% | $133.0M+3.9% | $128.0M-1.5% | $130.0M-0.8% | $131.0M0.0% | $131.0M |
| Income Tax | $169.0M-19.1% | $209.0M-5.0% | $220.0M+20.2% | $183.0M+88.7% | $97.0M-37.0% | $154.0M-19.8% | $192.0M+60.0% | $120.0M |
| Net Income | $1.5B+32.8% | $1.2B-14.7% | $1.4B+5.3% | $1.3B+9.8% | $1.2B-2.2% | $1.2B-11.5% | $1.4B+20.9% | $1.1B |
| EPS (Diluted) | $1.68 | N/A | $1.48+5.0% | $1.41+10.2% | $1.28 | N/A | $1.47+20.5% | $1.22 |
TXN Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $34.4B-0.6% | $34.6B-1.2% | $35.0B+0.2% | $34.9B+3.5% | $33.8B-4.9% | $35.5B+0.5% | $35.3B+0.8% | $35.0B |
| Current Assets | $13.8B+0.3% | $13.8B-0.9% | $13.9B-4.2% | $14.5B+10.7% | $13.1B-12.9% | $15.0B-5.3% | $15.9B-5.5% | $16.8B |
| Cash & Equivalents | $3.5B+10.0% | $3.2B-2.6% | $3.3B+8.8% | $3.0B+10.2% | $2.8B-13.7% | $3.2B+23.6% | $2.6B-5.5% | $2.7B |
| Inventory | $4.7B-2.3% | $4.8B-0.5% | $4.8B+0.4% | $4.8B+2.7% | $4.7B+3.5% | $4.5B+5.4% | $4.3B+4.6% | $4.1B |
| Accounts Receivable | $2.2B+14.4% | $2.0B-4.8% | $2.1B+6.6% | $1.9B+4.0% | $1.9B+8.2% | $1.7B-7.7% | $1.9B+8.8% | $1.7B |
| Goodwill | $4.3B0.0% | $4.3B-0.7% | $4.4B0.0% | $4.4B0.0% | $4.4B0.0% | $4.4B0.0% | $4.4B0.0% | $4.4B |
| Total Liabilities | $17.6B-3.8% | $18.3B-0.4% | $18.4B-0.8% | $18.5B+6.8% | $17.4B-6.7% | $18.6B+3.1% | $18.1B+1.2% | $17.8B |
| Current Liabilities | $3.1B-2.0% | $3.2B+1.3% | $3.1B+25.1% | $2.5B+0.1% | $2.5B-31.7% | $3.6B-1.2% | $3.7B+1.3% | $3.6B |
| Long-Term Debt | $12.9B-4.8% | $13.5B0.0% | $13.5B-3.5% | $14.0B+9.3% | $12.8B0.0% | $12.8B0.0% | $12.8B0.0% | $12.8B |
| Total Equity | $16.8B+3.1% | $16.3B-2.1% | $16.6B+1.4% | $16.4B0.0% | $16.4B-2.9% | $16.9B-2.1% | $17.3B+0.3% | $17.2B |
| Retained Earnings | $52.5B+0.5% | $52.2B-0.3% | $52.4B+0.2% | $52.2B+0.1% | $52.2B-0.1% | $52.3B-0.1% | $52.3B+0.3% | $52.1B |
TXN Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.5B-32.6% | $2.3B+2.9% | $2.2B+17.7% | $1.9B+119.1% | $849.0M-57.5% | $2.0B+15.4% | $1.7B+10.2% | $1.6B |
| Capital Expenditures | $676.0M-26.9% | $925.0M-22.7% | $1.2B-8.3% | $1.3B+16.2% | $1.1B-5.8% | $1.2B-9.4% | $1.3B+23.7% | $1.1B |
| Free Cash Flow | $844.0M-36.5% | $1.3B+33.8% | $993.0M+78.9% | $555.0M+302.6% | -$274.0M-134.0% | $806.0M+93.8% | $416.0M-17.9% | $507.0M |
| Investing Cash Flow | -$47.0M+93.0% | -$676.0M+0.7% | -$681.0M+49.0% | -$1.3B-206.5% | $1.3B+104.1% | $614.0M+226.1% | -$487.0M | $0 |
| Financing Cash Flow | -$1.1B+30.9% | -$1.7B-34.0% | -$1.2B-409.0% | -$244.0M+90.4% | -$2.5B-26.9% | -$2.0B-43.3% | -$1.4B-6.2% | -$1.3B |
| Dividends Paid | $1.3B+0.1% | $1.3B+4.4% | $1.2B+0.1% | $1.2B-0.2% | $1.2B-0.2% | $1.2B+4.5% | $1.2B+0.2% | $1.2B |
| Share Buybacks | $158.0M-60.8% | $403.0M+238.7% | $119.0M-60.6% | $302.0M-53.8% | $653.0M+21.6% | $537.0M+68.9% | $318.0M+347.9% | $71.0M |
TXN Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 58.0%+2.1pp | 55.9%-1.5pp | 57.4%-0.5pp | 57.9%+1.0pp | 56.8%-0.9pp | 57.8%-1.8pp | 59.6%+1.7pp | 57.9% |
| Operating Margin | 37.5%+4.2pp | 33.3%-1.8pp | 35.1%-0.1pp | 35.1%+2.6pp | 32.5%-1.8pp | 34.4%-3.1pp | 37.4%+4.8pp | 32.6% |
| Net Margin | 32.0%+5.7pp | 26.3%-2.5pp | 28.8%-0.4pp | 29.1%+0.1pp | 29.0%-1.1pp | 30.1%-2.7pp | 32.8%+3.3pp | 29.5% |
| Return on Equity | 9.2%+2.1pp | 7.1%-1.1pp | 8.2%+0.3pp | 7.9%+0.7pp | 7.2%+0.1pp | 7.1%-0.8pp | 7.9%+1.3pp | 6.6% |
| Return on Assets | 4.5%+1.1pp | 3.4%-0.5pp | 3.9%+0.2pp | 3.7%+0.2pp | 3.5%+0.1pp | 3.4%-0.5pp | 3.9%+0.6pp | 3.2% |
| Current Ratio | 4.46+0.1 | 4.35-0.1 | 4.45-1.4 | 5.81+0.6 | 5.26+1.1 | 4.12-0.2 | 4.31-0.3 | 4.62 |
| Debt-to-Equity | 0.77-0.1 | 0.83+0.0 | 0.81-0.0 | 0.86+0.1 | 0.78+0.0 | 0.76+0.0 | 0.740.0 | 0.75 |
| FCF Margin | 17.5%-12.6pp | 30.0%+9.1pp | 20.9%+8.5pp | 12.5%+19.2pp | -6.7%-26.8pp | 20.1%+10.1pp | 10.0%-3.3pp | 13.3% |
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Frequently Asked Questions
What is Texas Instrument's annual revenue?
Texas Instrument (TXN) reported $17.7B in total revenue for fiscal year 2025. This represents a 13.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Texas Instrument's revenue growing?
Texas Instrument (TXN) revenue grew by 13% year-over-year, from $15.6B to $17.7B in fiscal year 2025.
Is Texas Instrument profitable?
Yes, Texas Instrument (TXN) reported a net income of $5.0B in fiscal year 2025, with a net profit margin of 28.3%.
What is Texas Instrument's EBITDA?
Texas Instrument (TXN) had EBITDA of $7.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Texas Instrument have?
As of fiscal year 2025, Texas Instrument (TXN) had $3.2B in cash and equivalents against $13.5B in long-term debt.
What is Texas Instrument's gross margin?
Texas Instrument (TXN) had a gross margin of 57.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Texas Instrument's operating margin?
Texas Instrument (TXN) had an operating margin of 34.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Texas Instrument's net profit margin?
Texas Instrument (TXN) had a net profit margin of 28.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Texas Instrument pay dividends?
Yes, Texas Instrument (TXN) paid $5.50 per share in dividends during fiscal year 2025.
What is Texas Instrument's return on equity (ROE)?
Texas Instrument (TXN) has a return on equity of 30.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Texas Instrument's free cash flow?
Texas Instrument (TXN) generated $2.6B in free cash flow during fiscal year 2025. This represents a 73.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Texas Instrument's operating cash flow?
Texas Instrument (TXN) generated $7.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Texas Instrument's total assets?
Texas Instrument (TXN) had $34.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Texas Instrument's capital expenditures?
Texas Instrument (TXN) invested $4.5B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Texas Instrument spend on research and development?
Texas Instrument (TXN) invested $2.1B in research and development during fiscal year 2025.
What is Texas Instrument's current ratio?
Texas Instrument (TXN) had a current ratio of 4.35 as of fiscal year 2025, which is generally considered healthy.
What is Texas Instrument's debt-to-equity ratio?
Texas Instrument (TXN) had a debt-to-equity ratio of 0.83 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Texas Instrument's return on assets (ROA)?
Texas Instrument (TXN) had a return on assets of 14.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Texas Instrument's Altman Z-Score?
Texas Instrument (TXN) has an Altman Z-Score of 12.76, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Texas Instrument's Piotroski F-Score?
Texas Instrument (TXN) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Texas Instrument's earnings high quality?
Texas Instrument (TXN) has an earnings quality ratio of 1.43x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Texas Instrument cover its interest payments?
Texas Instrument (TXN) has an interest coverage ratio of 11.1x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Texas Instrument?
Texas Instrument (TXN) scores 74 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.