— Know what they know.
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Not Investment Advice

TXN

NASDAQ · USD
Texas Instruments Incorporated
Technology · Semiconductors
CEO Haviv Ilan Employees 33,000 R&D / revenue 11.8%
Last price
$276.48−0.95%last session
Market cap
$252.5B
P/E (TTM)
41.8x
From 52w high
−17.2%
From 52w low
+81.0%
1-year return
+61.6%
RSI 14 · vs SMA200
47.6 · +9.4%
IS score
78.6/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

TXN   SPY   XLK (sector ETF) · weekly closes
100120140160180Jan 26Apr 26Jul 26Oct 26TXN 162XLK 129SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
95
Profitability
69
Growth
39
Value
92
Momentum
100
Risk (safety)
88
Quality
84
Balance sheet
72
Earnings quality

Flags

Strengths
✓ Congress buying
Warnings
▲ Share count rising
Observations
Moat model: Narrow, Efficient ScalePiotroski 7 / 9Altman Z 12.9Beta 1.313 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
34 open-market sales, $90.7M
Form 144 notices (12m): 17, $144.7M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
2
Last disclosed purchase 2026-07-07
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+413
529 new holders, 87 closed
2,875 filers hold 91.7% · 1,058 added, 958 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+362
1,895 funds adding shares
1,533 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
44.9%
20-day avg 51.2%, 50-day avg 41.3%
Latest 6.3 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$17.7B
Revenue growth YoY+13.0%
Gross margin57.0%
Operating income$6.0B
Operating margin34.1%
Net income$5.0B
Net margin28.3%
EPS (diluted)$5.45
Cash flow
Operating cash flow$7.2B
Capital expenditure$4.5B
Free cash flow$2.6B
FCF conversion (FCF / OCF)36.4%
Stock-based compensation$419.0M
FCF less SBC$2.2B
Buybacks$1.5B
Dividends$5.0B
Balance sheet & returns
Cash & short-term investments$4.9B
Total debt$14.8B
Net debt$9.9B
Shareholders' equity$16.3B
Goodwill & intangibles$4.6B
Debt / equity0.78
ROE (TTM)35.8%
ROIC (TTM)18.8%
Operating margin by fiscal year
48.8%FY202150.6%FY202241.8%FY202334.9%FY202434.1%FY2025
Revenue $18.3B (FY2021) to $17.7B (FY2025), a -0.9% CAGR.

Valuation

P/E (TTM)41.8x
EV / EBITDA27.2x
Price / sales12.98x
Price / FCF47.2x
FCF yield2.12%
Buyback yield0.58%
SBC / revenue2.8%
Price / book14.00x
Forward P/E FY202632.4x
Forward P/E FY202726.8x
Forward P/E FY202822.9x
Forward multiples divide today's price by Street EPS estimates. Street mean target $319.62 across 13 analysts last quarter is theirs, not ours.

TXN vs industry median

196 companies in Semiconductors
Gross margin 58.3% 45.0% Operating margin 37.3% 5.8% Net margin 31.1% 5.7% ROIC 18.8% 6.2%
TXN (TTM)Industry median Asset turnover 0.54 vs industry 0.52 · financial leverage 1.99

Earnings delivery

Next report 2026-10-21 · consensus EPS $2.42
83%
beat rate, 10 of 12 quarters
+5.3%
median EPS surprise
9
longest beat streak
+6+2+1+12+4+7+8+20+4-1-2+24
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-07-25 to 2026-04-22. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
TXN Texas Instruments Incorporat $252.5B41.8x35.8%31.1%+13.0% +61.6%
ARM Arm Holdings plc American De $243.3B234.8x13.4%20.9%+25.1% +33.1%
KLAC KLA Corporation $216.3B45.0x87.5%37.3%+11.7% +51.7%
MRVL Marvell Technology, Inc. $199.5B74.7x16.5%11.2%+30.6% +158.2%
AMAT Applied Materials, Inc. $324.8B35.1x41.1%27.8%+7.8% +80.1%
LRCX Lam Research Corporation $330.3B45.6x65.1%33.9%+26.0% —
ADI Analog Devices, Inc. $191.6B46.7x12.2%33.3%+33.6% —
QCOM QUALCOMM Incorporated $183.8B19.6x33.8%20.1%+1.9% —
12-month window: SPY +15.9%, sector ETF XLK +29.0%. Past returns describe history only.

Recent 8-K filings

2026-09-17Regulation FD; Exhibits
2026-07-22Earnings Release; Exhibits
2026-06-02Officer/Director Change
2026-04-22Earnings Release; Exhibits
2026-04-17Shareholder Vote
2026-03-25Officer/Director Change

Context

Shares outstanding913,247,686
Free float99.8%
Institutional ownership91.7%
Beta1.31
Dividend yield2.05%
Last dividend$1.52 on 2026-10-30
50 / 200-day average$272.34 / $253.77
Mega-cap Technology median P/E33.1x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where TXN sits among 76 scored companies in Semiconductors (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureTXNIndustry medianIndustry percentileSector median
P/E (TTM) 41.7x 45.9x
39th		 32.0x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 13.0x 8.1x
71st		 3.9x
Price / book 14.0x 5.5x
84th		 4.4x
Price / tangible book 20.5x 10.3x
73rd		 8.8x
Price / free cash flow 47.2x 57.4x
43rd		 20.3x
Price / operating cash flow 29.1x 38.7x
34th		 17.9x
Enterprise value $259.5B $6.8B
91st		 $5.5B
EV / sales 13.3x 8.4x
71st		 4.1x
EV / EBITDA 26.8x 28.1x
44th		 18.9x
EV / EBIT 34.7x 38.4x
38th		 26.7x
EV / free cash flow 48.5x 57.4x
43rd		 21.9x
Earnings yield 2.4% 1.2%
73rd		 2.0%
FCF yield 2.1% 1.4%
69th		 3.3%
Operating cash flow yield 3.4% 2.0%
73rd		 4.4%
Graham number (per share) $53.82 $34.80
75th		 $28.08

Profitability (TTM)

MeasureTXNIndustry medianIndustry percentileSector median
Gross margin 58.3% 48.5%
77th		 55.7%
EBITDA margin 49.7% 18.7%
92nd		 13.7%
Operating margin 37.3% 10.1%
93rd		 8.2%
EBIT margin 38.4% 12.1%
92nd		 8.6%
Net margin 31.1% 9.4%
89th		 5.7%
NOPAT margin 32.7% 9.3%
92nd		 7.0%
FCF margin 27.5% 12.0%
84th		 15.0%
Operating cash flow margin 44.6% 18.3%
95th		 18.4%
R&D / revenue 10.7% 17.5%
27th		 12.9%
SG&A / revenue 9.5% 14.9%
25th		 25.6%
Stock comp / revenue 2.8% 3.9%
40th		 4.4%
Effective tax rate 12.4% 17.4%
23rd		 21.0%

Returns on capital

MeasureTXNIndustry medianIndustry percentileSector median
ROE (on average equity) 35.2% 6.8%
91st		 9.4%
ROA 17.1% 4.2%
83rd		 4.1%
ROIC 25.4% 7.9%
77th		 9.0%
ROCE 22.9% 6.6%
85th		 8.6%
Return on tangible assets 21.1% 5.7%
84th		 5.9%
Cash ROIC (OCF / invested capital) 34.6% 14.1%
79th		 20.7%
Gross profitability (GP / assets) 31.6% 21.5%
68th		 30.0%
ROIC, 3-yr average 24.2% 6.8%
80th		 7.4%
ROIC, 5-yr average 38.8% 16.5%
83rd		 7.9%
ROE, 5-yr average 40.9% 10.9%
92nd		 6.9%
Incremental ROIC 120.2% 13.4%
86th		 15.3%

Growth

MeasureTXNIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 16.7% 17.8%
47th		 14.3%
Revenue growth (QoQ) 13.2% 13.2%
49th		 6.6%
Revenue CAGR, 3 yr 1.1% 3.5%
41st		 9.6%
Revenue CAGR, 5 yr 3.0% 6.5%
30th		 11.5%
Gross profit CAGR, 3 yr -3.1% 2.6%
33rd		 10.9%
Operating income CAGR, 3 yr -6.1% -2.2%
40th		 11.3%
Net income growth (TTM YoY) 20.1% 35.4%
37th		 21.6%
Net income CAGR, 3 yr -7.7% 1.9%
44th		 9.9%
EPS growth (TTM YoY) 19.0% 37.4%
34th		 22.3%
EPS CAGR, 3 yr -7.8% -0.5%
44th		 11.2%
EPS CAGR, 5 yr -1.7% 7.5%
29th		 12.0%
FCF growth (TTM YoY) 256.3% 31.5%
91st		 24.6%
FCF CAGR, 3 yr 18.9% 2.9%
68th		 19.3%
Operating cash flow CAGR, 3 yr 5.6% 4.1%
58th		 17.9%
Book value CAGR, 3 yr 4.0% 7.2%
36th		 6.8%
Dividend CAGR, 3 yr 1.3% 1.9%
33rd		 3.1%
Sustainable growth rate 5.5% 10.7%
29th		 14.2%

Margin history & stability

MeasureTXNIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 58.6% 47.6%
81st		 53.2%
Operating margin, 3-yr average 36.4% 8.0%
94th		 6.6%
Net margin, 3-yr average 31.5% 7.9%
93rd		 5.2%
FCF margin, 3-yr average 15.3% 11.5%
61st		 12.7%
Revenue stability (0-1) 0.13 0.58
17th		 0.87
Earnings stability (0-1) 0.40 0.36
56th		 0.45
Margin stability (0-1) 0.93 0.93
56th		 0.95

Liquidity (latest quarter)

MeasureTXNIndustry medianIndustry percentileSector median
Cash & short-term investments $7.0B $667.9M
91st		 $494.1M
Net cash (− = net debt) −$7.1B $201.8M
4th		 $49.8M
Working capital $12.5B $953.3M
92nd		 $391.0M
Current ratio 4.86 3.45
65th		 1.92
Quick ratio 3.44 2.56
61st		 1.67
Cash ratio (cash + ST investments / current liabilities) 2.16 1.60
61st		 0.95
Defensive interval (days) 849 days 778 days
56th		 521 days

Leverage & solvency (latest quarter)

MeasureTXNIndustry medianIndustry percentileSector median
Total debt $14.1B $307.1M
95th		 $349.3M
Debt / equity 0.78 0.17
84th		 0.29
Net debt / equity 0.39 −0.19
87th		 −0.13
Debt / assets 39.2% 11.2%
87th		 16.9%
Debt / capital 43.8% 14.8%
84th		 22.3%
Debt / EBITDA 1.45 1.14
60th		 1.78
Net debt / EBITDA 0.73 −0.82
80th		 −0.18
Interest coverage (EBIT / interest) 13.2x 12.4x
52nd		 5.8x
Cash interest coverage 15.4x 15.4x
50th		 12.8x
Debt payback (years of OCF) 1.6 yrs 1.2 yrs
57th		 1.6 yrs
Liabilities / assets 49.8% 30.8%
79th		 48.7%
IS credit model rating AA — —
Implied credit spread (bps) 80 125
19th		 175

Efficiency

MeasureTXNIndustry medianIndustry percentileSector median
Asset turnover 0.55 0.52
55th		 0.62
Fixed asset turnover 1.63 4.69
13th		 9.25
Inventory turnover 1.7 2.7
14th		 3.8
Receivables turnover 8.7 6.3
76th		 6.2
Days sales outstanding 42 days 58 days
24th		 59 days
Days inventory outstanding 212 days 137 days
86th		 94 days
Days payables outstanding 35 days 50 days
16th		 46 days
Cash conversion cycle (days) 219 days 129 days
84th		 50 days
Capex / revenue 17.0% 4.5%
89th		 2.3%
Capex / depreciation 1.50 0.94
76th		 0.56
Operating expense ratio 19.1% 32.6%
22nd		 44.3%

Cash flow & earnings quality

MeasureTXNIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.43 1.34
56th		 1.61
FCF / net income 0.88 0.88
50th		 1.33
FCF / operating cash flow 61.8% 75.0%
32nd		 88.0%
Capex / operating cash flow 38.2% 25.0%
68th		 12.0%
Accruals ratio -7.4% -4.4%
27th		 -6.3%
Sloan accruals ratio -4.8% 2.2%
16th		 -1.8%
Earnings quality score (0-1) 0.75 0.75
15th		 0.75

Dividends & buybacks

MeasureTXNIndustry medianIndustry percentileSector median
Dividend yield 2.1% 0.0%
93rd		 0.0%
Dividend per share (TTM) $5.68 $0.00
99th		 $0.00
Payout ratio (dividends / net income) 84.5% 5.0%
88th		 0.0%
Dividends / FCF 95.5% 0.0%
89th		 0.0%
Dividend growth (YoY) 3.4% 3.6%
44th		 4.1%
Buyback yield 0.3% 0.1%
63rd		 1.2%
Shareholder yield (dividends + buybacks) 2.3% 0.3%
81st		 1.7%
Share count change (YoY) 0.9% 1.6%
37th		 0.1%
Buybacks, last 5 years $6.6B $67.3M
88th		 $215.3M

Scores & forensic checks

MeasureTXNIndustry medianIndustry percentileSector median
IS score 79 59
88th		 56
IS profitability 95 43
91st		 40
IS growth 69 69
49th		 65
IS value 39 36
64th		 39
IS momentum 92 79
77th		 78
IS risk (safety) 100 100
12th		 100
IS quality 88 70
95th		 67
IS balance sheet 84 84
47th		 72
IS earnings quality 72 65
81st		 61
IS cash flow 79 58
83rd		 66
Piotroski F-score (0-9) 7 6
65th		 6
Altman Z-score 12.9 12.3
55th		 4.0
Beneish M-score −3.06 −2.45
8th		 −2.58
Ohlson O-score −10.03 −9.33
37th		 −8.00
IS credit score 86 78
64th		 69

Per share

MeasureTXNIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $6.58 $1.49
83rd		 $0.84
Book value per share $19.57 $17.90
56th		 $9.77
Tangible book per share $14.65 $11.01
61st		 $3.22
Revenue per share $21.14 $13.47
65th		 $13.00
FCF per share $5.82 $1.50
88th		 $1.78
Operating cash flow per share $9.42 $2.35
89th		 $2.40
Cash per share $7.61 $6.31
59th		 $4.50

Size (TTM)

MeasureTXNIndustry medianIndustry percentileSector median
Market cap $252.5B $6.8B
91st		 $4.7B
Revenue $19.5B $1.1B
89th		 $1.2B
EBITDA $9.7B $207.9M
92nd		 $185.8M
Net income $6.1B $119.3M
91st		 $84.9M
Free cash flow $5.4B $114.6M
92nd		 $170.6M
Total assets $35.9B $2.3B
89th		 $2.4B
Shareholders' equity $18.0B $1.4B
88th		 $1.1B
Employees 33,000 2,286
89th		 3,000

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-18Farmer Curtis C
Director
 Award / grant 107——2,261
2026-09-18Patsley Pamela H
Director
 Award / grant 107——65,606
2026-08-27Abraham Tsedeniya
Sr. Vice President
 Option exercise 1,365$79.26$108,19030,181
2026-08-27Abraham Tsedeniya
Sr. Vice President
 Open-market sale 6,408$264.60$1.7M23,773
2026-08-27Abraham Tsedeniya
Sr. Vice President
 Open-market sale 592$264.96$156,85623,181
2026-08-27Abraham Tsedeniya
Sr. Vice President
 Option exercise 1,365$79.26$108,1900
2026-07-24Knecht Julie C.
VP & Chief Accounting Officer
 Award / grant 7,154——16,294
2026-06-19Farmer Curtis C
Director
 Award / grant 85——2,144
2026-06-19Patsley Pamela H
Director
 Award / grant 85——65,170
2026-05-28Craighead Martin S
Director
 Open-market sale 9,643$320.41$3.1M14,716
2026-05-28Craighead Martin S
Director
 Open-market sale 357$321.01$114,59914,359
2026-05-14Bahai Ahmad
Sr. Vice President
 Option exercise 5,000$110.15$550,75047,519

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired614,754—
GiftDisposed1175—
Open-market saleDisposed34320,475$90.7M
Option exerciseAcquired29267,550$38.4M
Option exerciseDisposed29267,550$38.4M
Tax withholdingDisposed12,145$602,509
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 17 notices · 598,041 shares · $144.7M
FiledFilerShares proposedEst. proceeds
2026-05-28Craighead Martin S10,000$3.2M
2026-05-14Rafael R. Lizardi47,734$14.7M
2026-05-13Carrie S. Cox8,838$2.7M
2026-05-04Haviv Ilan20,000$5.6M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 19 trades (8 purchases) · Senate 1 (1 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-09-11Ro KhannaHouseSale$15,001 - $50,0002026-10-09
2026-07-07Ro KhannaHousePurchase$15,001 - $50,0002026-08-12
2026-04-14Thomas H. KeanHousePurchase$1,001 - $15,0002026-05-25
2026-03-27Alan ArmstrongSenatePurchase$1,001 - $15,0002026-07-21
2025-09-24Markwayne MullinSenateSale (Full)$15,001 - $50,0002025-10-01
2025-09-24Markwayne MullinSenateSale$15,001 - $50,0002025-10-01
2025-09-24Markwayne MullinSenateSale (Full)$15,001 - $50,0002025-09-30
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.82,555,483$24.6B9.04%
VANGUARD CAPITAL MANAGEMENT LLC59,441,598$17.7B6.51%
STATE STREET CORP44,453,341$13.3B4.87%
Invesco Ltd.37,777,410$11.3B4.14%
VANGUARD PORTFOLIO MANAGEMENT LLC29,529,799$8.8B3.23%
GEODE CAPITAL MANAGEMENT, LLC24,038,147$7.1B2.63%
JPMORGAN CHASE & CO22,216,713$6.3B2.43%
Bank of New York Mellon Corp14,939,544$4.5B1.64%
NORGES BANK13,220,004$3.9B1.45%
WELLINGTON MANAGEMENT GROUP LLP13,121,140$3.9B1.44%
BANK OF AMERICA CORP /DE/12,416,018$3.7B1.36%
MORGAN STANLEY12,167,587$3.6B1.33%
VAN ECK ASSOCIATES CORP12,149,167$3.6B1.33%
GOLDMAN SACHS GROUP INC9,988,358$3.0B1.09%
FIL Ltd9,529,190$2.8B1.04%

Institutional ownership by quarter

2023-092026-0691.7%
% of shares held by 13F filers
2023-092026-062,875
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-302,87591.7%5291,05895887
2026-03-312,46286.4%255967889153
2025-12-312,40687.0%2798061,031182
2025-09-302,36384.4%163874935185
2025-06-302,42286.8%224896967143
2025-03-312,37686.1%176933918157
2024-12-312,39686.7%279925855126
2024-09-302,28886.9%171864881122
2024-06-302,27488.3%19983788597
2024-03-312,20786.6%159856865152
2023-12-312,22784.8%270733952143
2023-09-302,13284.5%121831852115

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-30SCHEDULE 13GVanguard Capital Management7.5%68,246,741
2026-03-27SCHEDULE 13G/AThe Vanguard Group0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.35%$8.1B
VSMPX0.35%$8.1B
VTI0.35%$8.1B
VTSAX0.35%$8.1B
VFIAX0.39%$6.7B
VFFSX0.39%$6.7B

Share structure

Shares outstanding913,247,686
Float911,001,097
Free float99.8%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$18.3B$20.0B$17.5B$15.6B$17.7B
Cost of revenue$6.0B$6.3B$6.5B$6.5B$7.6B
Gross profit$12.4B$13.8B$11.0B$9.1B$10.1B
R&D$1.6B$1.7B$1.9B$2.0B$2.1B
SG&A$1.7B$1.7B$1.8B$1.8B$1.9B
Operating income$9.0B$10.1B$7.3B$5.5B$6.0B
EBITDA$10.1B$11.2B$9.0B$7.5B$8.3B
Pretax income$8.9B$10.0B$7.4B$5.5B$5.7B
Income tax$1.1B$1.3B$908.0M$654.0M$709.0M
Net income$7.8B$8.7B$6.5B$4.8B$5.0B
EPS, diluted$8.27$9.41$7.07$5.20$5.45
Diluted shares936.0M926.0M916.0M919.0M913.0M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$9.7B$9.1B$8.6B$7.6B$4.9B
Receivables$1.7B$1.9B$1.8B$1.7B$2.0B
Inventory$1.9B$2.8B$4.0B$4.5B$4.8B
Total current assets$13.7B$14.0B$15.1B$15.0B$13.8B
PP&E, net$5.1B$6.9B$10.0B$11.3B$12.3B
Goodwill & intangibles$4.4B$4.5B$4.6B$4.6B$4.6B
Total assets$24.7B$27.2B$32.3B$35.5B$34.6B
Accounts payable$571.0M$851.0M$802.0M$820.0M$756.0M
Total current liabilities$2.6B$3.0B$3.3B$3.6B$3.2B
Long-term debt$7.2B$8.2B$10.6B$12.8B$14.2B
Total liabilities$11.3B$12.6B$15.5B$18.6B$18.3B
Shareholders' equity$13.3B$14.6B$16.9B$16.9B$16.3B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$7.8B$8.7B$6.5B$4.8B$5.0B
Depreciation & amortization$954.0M$979.0M$1.2B$1.6B$2.0B
Stock-based compensation$230.0M$289.0M$362.0M$387.0M$419.0M
Change in working capital−$165.0M−$813.0M−$1.1B−$111.0M−$271.0M
Operating cash flow$8.8B$8.7B$6.4B$6.3B$7.2B
Capital expenditure−$2.5B−$2.8B−$5.1B−$4.8B−$4.5B
Free cash flow$6.3B$5.9B$1.3B$1.5B$2.6B
Investing cash flow−$4.1B−$3.6B−$4.4B−$3.2B−$1.4B
Net debt issued / repaid$945.0M$994.0M$2.5B$2.4B$449.0M
Buybacks−$527.0M−$3.6B−$293.0M−$929.0M−$1.5B
Dividends paid−$3.9B−$4.3B−$4.6B−$4.8B−$5.0B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin67.5%68.8%62.9%58.1%57.0%
Operating margin48.8%50.6%41.8%34.9%34.1%
Net margin42.4%43.7%37.2%30.7%28.3%
FCF margin34.3%29.6%7.7%9.6%14.7%
ROE69.0%62.7%41.4%28.4%30.1%
ROIC66.1%60.6%32.9%21.0%19.7%
ROA35.3%33.7%21.9%14.1%14.3%
Debt / equity0.620.620.660.800.95
Interest coverage49.5x47.9x22.0x11.7x11.5x
Current ratio5.334.704.554.124.35
Revenue growth+26.9%+9.2%−12.5%−10.7%+13.0%
EPS growth+38.3%+15.1%−25.5%−26.6%+4.9%
P/E at year end20.2x15.8x22.6x34.8x31.7x
EV / EBITDA at year end15.4x12.3x16.6x22.9x20.5x
FCF yield at year end4.02%4.29%0.92%0.90%1.64%
Dividend payout50.0%49.1%70.0%99.9%100.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Analog$14.1B$15.4B$13.0B$12.2B$14.0B
Embedded Processing$3.0B$3.3B$3.4B$2.5B$2.7B
All Other Segments$1.2B$1.4B$1.1B—$979.0M

Revenue by region · FY2025

UNITED STATES$6.8B · 38%
CHINA$3.8B · 21%
EMEA$3.7B · 21%
Rest of Asia$1.9B · 11%
JAPAN$1.2B · 7%
Rest Of World$331.0M · 2%

Street estimates by fiscal year

Next report 2026-10-21 · consensus EPS $2.42 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$22.0B$21.5B – $22.4B$8.52$7.94 – $9.082232.4x
2027$25.0B$23.3B – $26.4B$10.33$9.60 – $11.572326.8x
2028$27.7B$24.4B – $35.3B$12.05$10.11 – $17.982022.9x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-04-22$1.36$1.68+23.5%$4.5B$4.8B+6.6%
2026-01-27$1.29$1.27−1.6%$4.4B$4.4B−0.3%
2025-10-21$1.49$1.48−0.7%$4.6B$4.7B+2.1%
2025-07-22$1.36$1.41+3.7%$4.4B$4.4B+1.9%
2025-04-23$1.07$1.28+19.6%$3.9B$4.1B+4.1%
2025-01-23$1.20$1.30+8.3%$3.9B$4.0B+3.2%
2024-10-22$1.38$1.47+6.5%$4.1B$4.2B+0.8%
2024-07-23$1.17$1.22+4.3%$3.8B$3.8B+0.0%
2024-04-23$1.07$1.20+12.1%$3.6B$3.7B+1.3%
2024-01-23$1.47$1.49+1.4%$4.1B$4.1B−1.0%
2023-10-24$1.82$1.85+1.6%$4.6B$4.5B−0.8%
2023-07-25$1.76$1.87+6.3%$4.4B$4.5B+3.7%
2023-04-25$1.78$1.85+3.9%$4.4B$4.4B+0.1%
2023-01-24$1.98$2.13+7.6%$4.6B$4.7B+1.2%
2022-10-25$2.39$2.45+2.5%$5.1B$5.2B+1.9%
2022-07-26$2.12$2.45+15.6%$4.6B$5.2B+12.3%
2022-04-26$2.18$2.35+7.8%$4.7B$4.9B+3.5%
2022-01-25$1.94$2.27+17.0%$4.7B$4.8B+2.2%
2021-10-26$2.05$2.07+1.0%$4.6B$4.6B+0.1%
2021-07-21$1.83$2.05+12.0%$4.6B$4.6B−1.2%
2021-04-27$1.58$1.85+17.1%$4.0B$4.3B+7.8%
2021-01-26$1.34$1.64+22.4%$3.2B$4.1B+28.8%
2020-10-20$1.28$1.45+13.3%$3.4B$3.8B+13.3%
2020-07-21$0.88$1.48+68.2%$2.6B$3.2B+27.0%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
2.206-153.506-222.806-292.507-062.507-132.807-203.307-271.908-032.008-102.008-171.608-241.608-31
Week ofNotionalSharesTrades
2026-08-31$1.6B6,423,558115,316
2026-08-24$1.6B6,033,896141,884
2026-08-17$2.0B7,216,378140,271
2026-08-10$2.0B7,201,470135,198
2026-08-03$1.9B6,966,520148,418
2026-07-27$3.3B11,801,072205,505

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1544.9%
DateShort shareShort volumeTotal volume
2026-10-1544.9%877,8521,955,495
2026-10-1451.0%727,5981,427,806
2026-10-1358.3%1,160,4381,991,477
2026-10-1259.9%738,8711,233,361
2026-10-0940.7%539,2641,324,839
2026-10-0855.1%1,125,6072,042,376
2026-10-0752.2%860,1061,648,571
2026-10-0654.3%600,1641,105,283
2026-10-0544.5%506,3871,138,938
2026-10-0251.5%880,7441,710,569
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+1.7Jan+0.3Feb+1.1Mar+1.8Apr+2.7May-0.2Jun+1.8Jul+0.7Aug+0.5Sep+0.1Oct+2.8Nov+1.1Dec
MonthAvg returnUp yearsYears
Jan+1.7%55%20
Feb+0.3%55%20
Mar+1.1%52%21
Apr+1.8%50%20
May+2.7%75%20
Jun−0.2%55%20
Jul+1.8%60%20
Aug+0.7%60%20
Sep+0.5%55%20
Oct+0.1%60%20
Nov+2.8%80%20
Dec+1.1%55%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1447.6
MFI32.5
ADX16.2
Stochastic %K / %D23.8 / 38.7
Williams %R-88.5
CCI-30
TSI / signal11.8 / 15.1
Chaikin money flow0.29
ATR$8.53
Bollinger width10.9%
Volume vs 20-day avg1.52x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$281.89 (−1.9%)
SMA 50$272.30 (+1.5%)
SMA 200$252.79 (+9.4%)
EMA 21$280.13 (−1.3%)
EMA 50$277.05 (−0.2%)
EMA 200$255.04 (+8.4%)
Bollinger upper$297.30 (−7.0%)
Bollinger lower$266.47 (+3.8%)
Parabolic SAR$292.61 (−5.5%)
Open the live chart, 110+ indicators

About Texas Instruments Incorporated

Texas Instruments Incorporated (TI) specializes in the global design, production, and sale of semiconductors to electronics engineers and manufacturers. Its operations are structured into two core segments: Analog and Embedded Processing. The Analog division provides a comprehensive suite of power management products, such as battery-management solutions, various DC/DC and AC/DC switching regulators and controllers, power switches, linear regulators, voltage supervisors, references, and lighting components, all critical for managing diverse power needs. This segment also delivers signal chain products designed to sense, condition, and measure electrical signals, facilitating information transfer or conversion for further processing and control, encompassing items like amplifiers, data converters, interface devices, motor drives, clocks, and sensing technologies. The Embedded Processing segment develops microcontrollers, integral to a wide array of electronic equipment; digital signal processors (DSPs) for complex mathematical computations; and applications processors tailored for specific computing tasks. Products from this segment are utilized across numerous markets, including industrial applications, the automotive sector, personal electronics, communication systems, enterprise solutions, and calculators. Beyond these, TI also produces DLP® products, primarily used in projectors to generate high-definition images; a range of calculators; and custom application-specific integrated circuits (ASICs). The company distributes its semiconductor offerings through a direct sales force, its network of authorized distributors, and its official website. Established in 1930, Texas Instruments is headquartered in Dallas, Texas.

https://www.ti.com

Key executives

NameTitlePayBorn
Haviv IlanChairman, Pres & Chief Executive Officer$4.7M1969
Hagop H. KozanianSenior Vice President of Analog Signal Chain$2.4M1983
Amichai RonSenior Vice President of Embedded Processing & DLP® Products$2.3M1978
Rafael R. LizardiAdvisor$2.3M1973
Christine A. WitzscheSenior Vice President of Communications & Investor Relations—1985
Julie C. KnechtSenior VP, CFO & Chief Accounting Officer—1972
Katharine KaneSenior Vice President, General Counsel, Legal, Chief Compliance Officer & Secretary—1985
Krunali PatelSenior Vice President & Chief Information Officer——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Haviv Ilan Director, President & Chief Executive Officer2025$1.3M$9.0M$246,986$22.7M
Richard Templeton Chairman of the board2025$600,000$3.8M$114,360$8.3M
Hagop Kozanian Senior Vice President2025$827,500$2.6M$157,721$7.5M
Amichai Ron Senior Vice President2025$807,500$2.6M$153,910$7.4M
Rafael Lizardi Senior Vice President & Chief Financial Officer2025$872,500$2.4M$166,298$7.1M

Employees

30k201830k201930k202031k202133k202234k202334k202433k2025

Dividends

Ex-dateAmountPaid
2026-10-30$1.522026-11-10
2026-07-31$1.422026-08-11
2026-05-05$1.422026-05-19
2026-01-30$1.422026-02-10
2025-10-31$1.422025-11-12
2025-07-31$1.362025-08-12
2025-04-30$1.362025-05-13
2025-01-31$1.362025-02-11

Moat model

Narrow · Efficient Scale · 2026-06-30
Cost advantage78
Intangibles51
Switching costs40
Network effect40
Efficient scale90
Our component scores (0-100) and overall 57.9; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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