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Texas Instruments (Nasdaq: TXN) stock fundamentals

Nasdaq: TXN · Information technology · United States

Signed off by OffScriptBySami on  · Updated

Data as of  · For information only, not investment advice.

In brief

Texas Instruments (Nasdaq: TXN) designs and makes analog and embedded processing semiconductors. Its Form 10-K reports revenue of USD 17.7 billion for FY2025. Its Form 10-Q for Q2 FY2026, the quarter ended 30 Jun 2026, reports revenue of USD 5.46 billion, and our calculation of net debt at 30 Jun 2026 is USD 7.05 billion.

Data as of Source: Form 10-K for FY2025 and Form 10-Q for Q2 2026

Key facts

Data as of

Texas Instruments (Nasdaq: TXN) · USD · fiscal year ends 31 December · figures from SEC filings; derived values are marked.

Revenue (USD bn)
17.7
FY2025 (ended ) · Form 10-K
Revenue, TTM (USD bn)
19.5
TTM to · derived
Revenue by quarter, from USD 4.15 bn in Q3 2024 to USD 5.46 bn in Q2 2026
Net income attributable to shareholders (USD bn)
5.00
FY2025 (ended ) · Form 10-K
Operating margin
34.1%
FY2025 (ended ) · derived
Free cash flow (USD bn)
2.60
FY2025 (ended ) · derived
Net debt (USD bn)
7.05
at · derived: total debt minus cash and short-term investments
Dividend declared per share (USD)
5.50
FY2025 (ended ) · Form 10-K
Shares outstanding (m)
913
at · Form 10-Q cover page

Fundamentals profile

vs Texas Instruments's own FY2021–FY2025 range (fewer than 5 covered peers) · TTM to Q2 2026 · Data as of

Each row places Texas Instruments's value against its own FY2021–FY2025 range. It describes; it does not rate. There is no overall score. How we calculate this

Texas Instruments fundamentals profile compared with its own FY2021–FY2025 range. Each row names its period; values are percentages, multiples or years.
DimensionMetricTexas InstrumentsOwn 5-year medianPositionRange
GrowthRevenue, 3-year CAGR to FY2025−4.1%Own 5-year median 5.1%Below its 5-year median
Lower (−5.2%) Higher (11.7%)
MarginsOperating margin (TTM to Q2 2026)37.3%Own 5-year median 41.8%Below its 5-year median
Lower (34.1%) Higher (50.6%)
Cash flowFCF margin (TTM to Q2 2026)27.5%Own 5-year median 14.7%Above its 5-year median
Lower (7.7%) Higher (34.3%)
Dividend historyConsecutive years of cash dividends, to FY2025Every fiscal year in our data, FY2009 to FY2025, had a dividend; our data starts in FY2009.At least 17Own 5-year median not availablenot availablenot available

Source: Texas Instruments Forms 10-Q and 10-K, SEC EDGAR. Derived by StockFactsheet. Data as of

Compared with Texas Instruments's own FY2021–FY2025 range because fewer than 5 covered peers exist. Descriptive only; not a rating.

How did Texas Instruments' capital expenditure cycle change its free cash flow from FY2021 to FY2025?

Texas Instruments' capital expenditure rose from USD 2.46 billion in FY2021 to USD 5.07 billion in FY2023, then eased to USD 4.55 billion in FY2025. Its free cash flow, our calculation, fell from USD 6.29 billion in FY2021 to USD 1.35 billion in FY2023, and was USD 2.60 billion in FY2025.

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Table 1 Texas Instruments cash flow, dividends paid and buybacks, FY2021–FY2025 (USD millions) USD millions · outflows shown with a minus sign
USD mFY2025ended FY2024ended FY2023ended FY2022ended FY2021ended
Cash from operations7,1536,3186,4208,7208,756
Capital expenditure−4,550−4,820−5,071−2,797−2,462
Free cash flow2,603 D1,498 D1,349 D5,923 D6,294 D
Dividends paid−4,999−4,795−4,557−4,297−3,886
Share buybacks−1,477−929−293−3,615−527
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Source: Texas Instruments Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Free cash flow = cash from operations minus capital expenditure.

Totals may not add up because of rounding.

Cash from operations fell too, from USD 8.72 billion in FY2022 to USD 6.42 billion in FY2023, so the FY2023 low came from both lines. Its FY2025 10-K says the company is nearing the end of its six-year elevated capital expenditures cycle.[3] The 10-K describes FY2025 spending as primarily for semiconductor manufacturing equipment and facilities.[3]

Our calculation of free cash flow for FY2025 is USD 2,603 million. Texas Instruments' own free cash flow, a non-GAAP measure in its 10-K, is USD 2.94 billion for FY2025.[3] That measure adds USD 335 million of CHIPS Act proceeds to cash from operations less capital expenditure, so it differs from ours.[3]

Dividends paid rose every year, from USD 3.89 billion in FY2021 to USD 5.00 billion in FY2025. They were smaller than our free cash flow in FY2021 and FY2022 and larger in each year from FY2023 to FY2025. Buybacks were USD 3.62 billion in FY2022, USD 293 million in FY2023 and USD 1.48 billion in FY2025.

How did Texas Instruments' gross margin and operating margin change from FY2021 to FY2025?

Texas Instruments' gross margin, our calculation, fell from 68.8% in FY2022 to 57.0% in FY2025. Its operating margin, our calculation, fell from 50.6% to 34.1% over the same 5-year span, while revenue was USD 20.0 billion in FY2022 and USD 17.7 billion in FY2025.

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Table 2 Texas Instruments annual revenue and margins, FY2021–FY2025 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends 31 December
USD mFY2025ended FY2024ended FY2023ended FY2022ended FY2021ended
Revenue17,68215,64117,51920,02818,344
Revenue YoY %increased 13.0%decreased 10.7%decreased 12.5%increased 9.2%increased 26.9%
Gross margin %57.0%58.1%62.9%68.8%67.5%
Operating margin %34.1%34.9%41.8%50.6%48.8%
Net margin %28.3%30.7%37.2%43.7%42.4%
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Source: Texas Instruments Forms 10-Q and 10-K, SEC EDGAR Data as of

Arrows show direction of change only, not whether a change is good or bad.

Revenue fell 12.5% in FY2023 and 10.7% in FY2024, then rose 13.0% in FY2025 (our calculations). Operating margin fell by more than gross margin did over the same span, so operating expenses took a larger share of revenue.

Texas Instruments' FY2025 10-K lists capital expenditures and resulting depreciation among the factors that make its margins vary.[3] It does not break the FY2021 to FY2025 change into those factors, and neither do we. The rest of the income statement, from cost of revenue to diluted earnings per share, is on the Texas Instruments financial statements page.

How did Texas Instruments' net debt change from Q2 FY2025 to Q2 FY2026?

Texas Instruments' net debt, our calculation, was USD 8.68 billion at 30 Jun 2025 and USD 7.05 billion at 30 Jun 2026. In between it reached USD 9.17 billion at 31 Dec 2025. Total debt stayed near USD 14.0 billion throughout, so the movement came from cash and short-term investments.

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Table 3 Texas Instruments cash, debt and net debt, Q2 2025–Q2 2026 (USD millions) USD millions · net cash shown as a negative net debt
USD mQ2 2026at Q1 2026at Q4 2025at Q3 2025at Q2 2025at
Cash and short-term investments7,001 D5,103 D4,881 D5,186 D5,359 D
Total debt14,052 D14,050 D14,048 D14,046 D14,043 D
Net debt / (net cash)7,051 D8,947 D9,167 D8,860 D8,684 D
(opens in new tab)

Source: Texas Instruments Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
  • D Total debt = short-term debt + long-term debt, from the same filing.
  • D Net debt = total debt minus cash and short-term investments; a negative value is net cash.

Cash and short-term investments were USD 5.36 billion at 30 Jun 2025, USD 4.88 billion at 31 Dec 2025 and USD 7.00 billion at 30 Jun 2026. Total debt did not move much over those 5 quarters. In FY2025, dividends paid of USD 5.00 billion were larger than our free cash flow of USD 2.60 billion.

Our methodology explains how we calculate free cash flow and net debt from the filings. NVIDIA, another semiconductor company, has its own page: NVIDIA stock fundamentals.

How we got these numbers

Every figure comes from Texas Instruments's Forms 10-Q and 10-K as filed with the SEC. Derived values are marked D and explained below.

Full method for this page
Source documents
Forms 10-Q (Q3 2024 to Q2 2026) and 10-K (FY2018 to FY2025)
Period covered
8 quarters and 5 fiscal years
Calculations
TTM = sum of the last 4 quarters. Q4 = fiscal year minus the nine-month YTD. Margins = line item ÷ revenue. FCF = cash from operations − capital expenditure. EBITDA = operating income + depreciation and amortisation (our calculation). Net debt = total debt − cash and short-term investments. CAGR = compound annual growth over three fiscal years.
Restatements
None in the periods shown.
Comparator
Each profile row compares the current value with Texas Instruments's own last five fiscal years, FY2021 to FY2025: the median of those five years and their range, from the lowest to the highest. A current value outside that range is drawn just past the end of the strip. Fewer than 5 covered peers exist, so there is no sector median yet.
Currency
As reported (USD); no FX conversion.
Read the full methodology

Latest filings and disclosures

SEC filings behind Texas Instruments's figures, newest first.

(opens in new tab)
  1. Filing Form 10-Q, quarter ended 30 Jun 2026 sec.gov
  2. Filing Form 10-Q, quarter ended 31 Mar 2026 sec.gov
  3. Filing Form 10-K, fiscal year ended 31 Dec 2025 sec.gov
  4. Filing Form 10-Q, quarter ended 30 Sep 2025 sec.gov
  5. Filing Form 10-Q, quarter ended 30 Jun 2025 sec.gov
  6. Filing Form 10-Q, quarter ended 31 Mar 2025 sec.gov
  7. Filing Form 10-K, fiscal year ended 31 Dec 2024 sec.gov
  8. Filing Form 10-Q, quarter ended 30 Sep 2024 sec.gov
All filings on SEC EDGAR

Company identifiers

Data as of
(opens in new tab)
Legal name
Texas Instruments Incorporated
Exchange
Nasdaq
Ticker
TXN
Sector
Information technology
Country
United States
Fiscal year end
31 December
Reporting currency
USD
Accounting standard
US GAAP
SEC CIK
0000097476
Latest filing in this page's data
Form 10-Q, quarter ended 30 Jun 2026 · filed

Sources and data

Data as of Figures are as reported in the filings below. Derived figures are our calculations (see Methodology).

(opens in new tab)
  1. [1] Filing Form 10-Q, quarter ended 30 Jun 2026 Texas Instruments Incorporated · · sec.gov
  2. [2] Filing Form 10-Q, quarter ended 31 Mar 2026 Texas Instruments Incorporated · · sec.gov
  3. [3] Filing Form 10-K, fiscal year ended 31 Dec 2025 Texas Instruments Incorporated · · sec.gov
  4. [4] Filing Form 10-Q, quarter ended 30 Sep 2025 Texas Instruments Incorporated · · sec.gov
  5. [5] Filing Form 10-Q, quarter ended 30 Jun 2025 Texas Instruments Incorporated · · sec.gov
  6. [6] Filing Form 10-K, fiscal year ended 31 Dec 2024 Texas Instruments Incorporated · · sec.gov
  7. [7] Filing Form 10-K, fiscal year ended 31 Dec 2023 Texas Instruments Incorporated · · sec.gov
  8. [8] Filing Form 10-K, fiscal year ended 31 Dec 2022 Texas Instruments Incorporated · · sec.gov
  9. [9] Filing Form 10-K, fiscal year ended 31 Dec 2021 Texas Instruments Incorporated · · sec.gov
  10. [10] Filing Form 10-Q, quarter ended 31 Mar 2025 Texas Instruments Incorporated · · sec.gov
  11. [11] Filing Form 10-Q, quarter ended 30 Sep 2024 Texas Instruments Incorporated · · sec.gov
  12. [12] Filing Form 10-K, fiscal year ended 31 Dec 2020 Texas Instruments Incorporated · · sec.gov
  13. [13] Filing Form 10-K, fiscal year ended 31 Dec 2019 Texas Instruments Incorporated · · sec.gov
  14. [14] Filing Form 10-K, fiscal year ended 31 Dec 2018 Texas Instruments Incorporated · · sec.gov
  15. [15] Our dataset StockFactsheet fundamentals dataset, extracted from SEC EDGAR XBRL on ; derived values (Q4, TTM, free cash flow, net debt, margins, growth rates and ratios) are explained in Methodology.

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Cite this page

StockFactsheet (2026). "Texas Instruments (Nasdaq: TXN) stock fundamentals." Signed off by OffScriptBySami. Updated ; data as of . https://stockfactsheet.com/stocks/txn/

Not investment advice

For information only. StockFactsheet does not recommend buying, selling or holding any security. Figures can contain errors; always check the original filings. Full disclaimer

Author and editor

OffScriptBySami

Founder and editor, StockFactsheet

All pages signed off

How you can check this page

  • The filings behind the figures on this page are listed in Sources and data above.
  • Signed off by OffScriptBySami on , after the figure, wording and source checks.
  • Found an error? Report it. Corrections are published in the log.

StockFactsheet is not a licensed investment adviser, broker or dealer, and does not give personal recommendations.

How this page was made
  1. Data imported (SEC EDGAR, )
  2. Drafted from our dataset and the company's own filings
  3. Automated checks and review steps passed ()
  4. Signed off and published by OffScriptBySami (, GST)

Update history

  1. Published First published version.