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Texas Instruments financial statements: income, balance sheet, cash flow

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) earned net income of USD 1.98 billion on revenue of USD 5.46 billion in Q2 2026, according to its Form 10-Q for the quarter ended 30 Jun 2026. For FY2025, cash from operations less capital expenditure left free cash flow of USD 2.60 billion, our calculation, per its Form 10-K.

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, 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
Operating income, TTM (USD bn)
7.25
TTM to · derived
Net income, TTM (USD bn)
6.05
TTM to · derived
Free cash flow, TTM (USD bn)
5.36
TTM to · derived
Total assets (USD bn)
35.9
at · Form 10-Q
Net debt (USD bn)
7.05
at · derived: total debt minus cash and short-term investments

What the numbers show

Texas Instruments' cash flow statement for FY2025 shows cash from operations of USD 7.15 billion and capital expenditure of USD 4.55 billion. That leaves free cash flow of USD 2.60 billion, our calculation. Revenue was USD 17.7 billion in FY2025 and USD 5.46 billion in Q2 2026, the latest quarter in the statements, when free cash flow was USD 2.19 billion, our calculation.

On the income statement, revenue was USD 20.0 billion in FY2022 and USD 17.7 billion in FY2025. Gross margin, our calculation, fell from 68.8% in FY2022 to 57.0% in FY2025. Operating margin, our calculation, fell from 50.6% to 34.1%. In Q2 2026 revenue rose 22.8% on Q2 2025 and operating margin was 42.3%, our calculation.

The balance sheet carries the spending. Net property, plant and equipment grew from USD 5.14 billion at 31 Dec 2021 to USD 12.3 billion at 31 Dec 2025, and inventory from USD 1.91 billion to USD 4.80 billion. Total debt went from USD 7.74 billion to USD 14.0 billion over those years. Net debt, our calculation, was USD 9.17 billion at 31 Dec 2025 and USD 7.05 billion at 30 Jun 2026, as cash and short-term investments rose from USD 4.88 billion to USD 7.00 billion.

Capital expenditure was USD 2.46 billion in FY2021 and USD 2.80 billion in FY2022, then USD 5.07 billion in FY2023, USD 4.82 billion in FY2024 and USD 4.55 billion in FY2025. Cash from operations stayed between USD 6.32 billion and USD 8.76 billion in those five years. Free cash flow, our calculation, fell from USD 6.29 billion in FY2021 to USD 1.35 billion in FY2023, then rose to USD 2.60 billion in FY2025.

A 10-Q reports cash flows year to date, so the quarterly cash flow figures are our derivation, marked D. Capital expenditure fell from USD 1.31 billion in Q2 2025 to USD 514 million in Q2 2026, while cash from operations rose from USD 1.86 billion to USD 2.70 billion. Free cash flow, our calculation, was USD 5.36 billion for the 4 quarters to 30 Jun 2026.

Diluted earnings per share were USD 9.41 per share in FY2022, USD 5.45 per share in FY2025 and USD 2.14 per share in Q2 2026. The diluted share count went from 936 million shares in FY2021 to 913 million shares in FY2025. Buybacks were USD 3.62 billion in FY2022, USD 293 million in FY2023 and USD 1.48 billion in FY2025. See Texas Instruments stock fundamentals for the business behind these statements.

Income statement

Chart 1

Texas Instruments quarterly revenue, Q3 2024 to Q2 2026

USD bn · quarters ended to

Revenue by quarter, from USD 4.15 bn in Q3 2024 to USD 5.46 bn in Q2 2026.02465.5Q32024Q4Q12025Q2Q3Q4Q12026Q2stockfactsheet.com
Source: Texas Instruments Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

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Table 1 Texas Instruments income statement, annual, FY2021–FY2025 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends 31 December
USD mFY2025ended FY2024ended FY2023ended FY2022ended FY2021ended CAGRFY21–FY25
Revenue17,68215,64117,51920,02818,344decreased 0.9%
Revenue YoY %increased 13.0%decreased 10.7%decreased 12.5%increased 9.2%increased 26.9%not available
Cost of revenue7,5996,5476,5006,2575,968increased 6.2%
Gross profit10,0839,09411,01913,77112,376decreased 5.0%
Gross margin %57.0%58.1%62.9%68.8%67.5%not available
R&D2,0831,9591,8631,6701,554increased 7.6%
SG&A1,8601,7941,8251,7041,666increased 2.8%
Operating income6,0235,4657,33110,1408,960decreased 9.5%
Operating margin %34.1%34.9%41.8%50.6%48.8%not available
Pre-tax income5,7105,4537,41810,0328,919decreased 10.6%
Income tax7096549081,2831,150decreased 11.4%
Net income5,0014,7996,5108,7497,769decreased 10.4%
Net margin %28.3%30.7%37.2%43.7%42.4%not available
Per share
Diluted EPS (USD)5.455.207.079.418.26decreased 9.9%
Diluted shares (m)913919916926936not available
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Source: Texas Instruments Forms 10-Q and 10-K, SEC EDGAR Data as of

  • Not available

CAGR: compound annual growth rate from FY2021 to FY2025, our calculation; n/m when the endpoints differ in sign or the base is zero or negative.

Totals may not add up because of rounding.

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

Quarterly

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Table 2 Texas Instruments income statement, quarterly, Q3 2024–Q2 2026 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends 31 December
USD mQ2 2026ended Q1 2026ended Q4 2025ended Q3 2025ended Q2 2025ended Q1 2025ended Q4 2024ended Q3 2024ended
Revenue5,4634,8254,423 D4,7424,4484,0694,007 D4,151
Revenue YoY %increased 22.8%increased 18.6%increased 10.4%increased 14.2%increased 16.4%increased 11.1%decreased 1.7%decreased 8.4%
Cost of revenue2,1112,0261,951 D2,0191,8731,7561,693 D1,677
Gross profit3,3522,7992,472 D2,7232,5752,3132,314 D2,474
Gross margin %61.4%58.0%55.9%57.4%57.9%56.8%57.7%59.6%
R&D535510521 D518527517491 D492
SG&A490464446 D457485472446 D428
Operating income2,3101,8081,473 D1,6631,5631,3241,377 D1,554
Operating margin %42.3%37.5%33.3%35.1%35.1%32.5%34.4%37.4%
Pre-tax income2,2381,7141,372 D1,5841,4781,2761,359 D1,554
Income tax258169209 D22018397154 D192
Net income1,9801,5451,163 D1,3641,2951,1791,205 D1,362
Net margin %36.2%32.0%26.3%28.8%29.1%29.0%30.1%32.8%
Per share
Diluted EPS (USD)2.141.68not available1.481.411.28not available1.47
Diluted shares (m)920914not available914912916not available920
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Source: Texas Instruments Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • Not available

Totals may not add up because of rounding.

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

Balance sheet

Annual

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Table 3 Texas Instruments assets, annual, FY2021–FY2025 (USD millions) USD millions
USD mFY2025at FY2024at FY2023at FY2022at FY2021at
Cash and short-term investments4,881 D7,580 D8,575 D9,067 D9,739 D
Receivables1,9631,7191,7871,8951,701
Inventory4,8044,5273,9992,7571,910
Total current assets13,75015,02615,12214,02113,685
PP&E (net)12,32011,3479,9996,8765,141
Goodwill and intangibles4,330 D4,362 D4,362 D4,362 D4,362 D
Total assets34,58535,50932,34827,20724,676
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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 Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.

Totals may not add up because of rounding.

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Table 4 Texas Instruments liabilities and shareholders' equity, annual, FY2021–FY2025 (USD millions) USD millions · net cash shown as a negative net debt
USD mFY2025at FY2024at FY2023at FY2022at FY2021at
Current liabilities3,1593,6433,3202,9852,569
Total debt14,048 D13,596 D11,223 D8,735 D7,741 D
Total liabilities18,31218,60615,45112,63011,343
Shareholders' equity16,27316,90316,89714,57713,333
Net debt / (net cash)9,167 D6,016 D2,648 D−332 D−1,998 D
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Source: Texas Instruments Forms 10-Q and 10-K, SEC EDGAR Data as of

  • 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.

Totals may not add up because of rounding.

Quarterly

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Table 5 Texas Instruments assets, quarterly, Q3 2024–Q2 2026 (USD millions) USD millions
USD mQ2 2026at Q1 2026at Q4 2025at Q3 2025at Q2 2025at Q1 2025at Q4 2024at Q3 2024at
Cash and short-term investments7,001 D5,103 D4,881 D5,186 D5,359 D5,005 D7,580 D8,752 D
Receivables2,5202,2451,9632,0621,9341,8601,7191,862
Inventory4,6054,6954,8044,8294,8124,6874,5274,296
Total current assets15,75713,79613,75013,87614,48413,08615,02615,872
PP&E (net)11,91112,14512,32012,34812,32111,81111,34711,802
Goodwill and intangibles4,330 D4,330 D4,330 D4,362 D4,362 D4,362 D4,362 D4,362 D
Total assets35,88234,39334,58535,00434,93333,75735,50935,321
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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 Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.

Totals may not add up because of rounding.

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Table 6 Texas Instruments liabilities and shareholders' equity, quarterly, Q3 2024–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 Q1 2025at Q4 2024at Q3 2024at
Current liabilities3,2443,0963,1593,1182,4922,4893,6433,686
Total debt14,052 D14,050 D14,048 D14,046 D14,043 D12,848 D13,596 D13,893 D
Total liabilities17,87517,61518,31218,37718,53017,35118,60618,053
Shareholders' equity18,00716,77816,27316,62716,40316,40616,90317,268
Net debt / (net cash)7,051 D8,947 D9,167 D8,860 D8,684 D7,843 D6,016 D5,141 D
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Source: Texas Instruments Forms 10-Q and 10-K, SEC EDGAR Data as of

  • 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.

Totals may not add up because of rounding.

Cash flow

Chart 2

Texas Instruments quarterly free cash flow, Q3 2024 to Q2 2026

USD bn · quarters ended to

Free cash flow by quarter, from USD 416 m in Q3 2024 to USD 2.19 bn in Q2 2026.−10123−0.32.2Q32024Q4Q12025Q2Q3Q4Q12026Q2stockfactsheet.com
Source: Texas Instruments Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

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Table 7 Texas Instruments cash flow, annual, 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
Cash from investing−1,439−3,202−4,362−3,583−4,095
Cash from financing−5,689−2,880−2,144−6,718−3,137
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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.

Quarterly

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Table 8 Texas Instruments cash flow, quarterly, Q3 2024–Q2 2026 (USD millions) USD millions · outflows shown with a minus sign
USD mQ2 2026ended Q1 2026ended Q4 2025ended Q3 2025ended Q2 2025ended Q1 2025ended Q4 2024ended Q3 2024ended
Cash from operations2,703 D1,5202,254 D2,190 D1,860 D8491,998 D1,732 D
Capital expenditure−514 D−676−925 D−1,197 D−1,305 D−1,123−1,192 D−1,316 D
Free cash flow2,189 D844 D1,329 D993 D555 D−274 D806 D416 D
Dividends paid−1,295 D−1,291−1,290 D−1,236 D−1,235 D−1,238−1,240 D−1,187 D
Share buybacks−27 D−158−403 D−119 D−302 D−653−537 D−318 D
Cash from investing−1,702 D−47−676 D−681 D−1,335 D1,253614 D−487 D
Cash from financing−890 D−1,149−1,664 D−1,242 D−244 D−2,539−2,001 D−1,396 D
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Source: Texas Instruments Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • D Free cash flow = cash from operations minus capital expenditure.

Totals may not add up because of rounding.

Per share and dividends

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Table 9 Texas Instruments per-share data and dividends, annual, FY2021–FY2025 USD per share, split-adjusted · shares in millions
USDFY2025ended FY2024ended FY2023ended FY2022ended FY2021ended
Basic EPS (USD)5.475.247.139.518.38
Diluted EPS (USD)5.455.207.079.418.26
Dividends declared per share (USD)5.505.265.024.694.21
Diluted shares (m)913919916926936
Shares outstanding at year end (m)907 D911 D909 D906 D924 D
FCF cover (×)0.5×0.3×0.3×1.4×1.6×
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Source: Texas Instruments Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Shares issued minus treasury shares, from the same filing.

Notes on these figures

  • R Restated
    • None in the periods shown.
  • D Derived by StockFactsheet
    • Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
    • Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
    • Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.
    • Total debt = short-term debt + long-term debt, from the same filing.
    • Net debt = total debt minus cash and short-term investments; a negative value is net cash.
    • Free cash flow = cash from operations minus capital expenditure.
    • Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
    • Shares issued minus treasury shares, from the same filing.
  • Template: standard statement set (not bank or insurer).
  • Arrows show direction of change only, not whether a change is good or bad.

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 (FY2021 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. CAGR = compound annual growth across the annual table.
Restatements
None in the periods shown.
Comparator
None: this page shows the company's own figures only.
Currency
As reported (USD); no FX conversion.
Read the full methodology

CSV downloads

One file per statement, with the annual and quarterly figures on this page in full units.

Sources and data

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

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  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-Q, quarter ended 31 Mar 2025 Texas Instruments Incorporated · · sec.gov
  7. [7] Filing Form 10-K, fiscal year ended 31 Dec 2024 Texas Instruments Incorporated · · sec.gov
  8. [8] Filing Form 10-Q, quarter ended 30 Sep 2024 Texas Instruments Incorporated · · sec.gov
  9. [9] Filing Form 10-K, fiscal year ended 31 Dec 2023 Texas Instruments Incorporated · · sec.gov
  10. [10] Filing Form 10-K, fiscal year ended 31 Dec 2022 Texas Instruments Incorporated · · sec.gov
  11. [11] Filing Form 10-K, fiscal year ended 31 Dec 2021 Texas Instruments Incorporated · · sec.gov
  12. [12] Filing Form 10-Q, quarter ended 30 Jun 2024 Texas Instruments Incorporated · · sec.gov
  13. [13] Filing Form 10-Q, quarter ended 31 Mar 2024 Texas Instruments Incorporated · · sec.gov
  14. [14] Filing Form 10-Q, quarter ended 30 Sep 2023 Texas Instruments Incorporated · · sec.gov
  15. [15] Filing Form 10-K, fiscal year ended 31 Dec 2020 Texas Instruments Incorporated · · sec.gov
  16. [16] 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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StockFactsheet (2026). "Texas Instruments financial statements: income, balance sheet, cash flow." Signed off by OffScriptBySami. Updated ; data as of . https://stockfactsheet.com/stocks/txn/financials/

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