Tearsheet

Texas Instruments (TXN)

Market Price (12/5/2025): $180.36 | Market Cap: $163.9 Bil
Sector: Information Technology | Industry: Semiconductors

Texas Instruments (TXN)

Market Price (12/5/2025): $180.36
Market Cap: $163.9 Bil
Sector: Information Technology
Industry: Semiconductors

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.0%, Dividend Yield is 3.0%	Weak multi-year price returns 2Y Excs Rtn is -25%, 3Y Excs Rtn is -59%	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.6%
1	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 35%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 40%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 6.9 Bil, FCF LTM is 2.1 Bil
3	Low stock price volatility Vol 12M is 40%
4	Megatrend and thematic drivers Megatrends include Artificial Intelligence, Automation & Robotics, Electric Vehicles & Autonomous Driving, and Smart Grids & Grid Modernization. Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.0%, Dividend Yield is 3.0%
1	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 35%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 40%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 6.9 Bil, FCF LTM is 2.1 Bil
3	Low stock price volatility Vol 12M is 40%
4	Megatrend and thematic drivers Megatrends include Artificial Intelligence, Automation & Robotics, Electric Vehicles & Autonomous Driving, and Smart Grids & Grid Modernization. Show more.
5	Weak multi-year price returns 2Y Excs Rtn is -25%, 3Y Excs Rtn is -59%
6	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.6%

Valuation, Metrics & Events

	12/5/25	2024	2023	2022	2021
Share Price CYE	$180.36	$181.61	$160.53	$150.86	$167.35
Market Cap CYE ($ Bil)	163.9	165.6	145.8	136.8	154.5
Total Debt ($ Bil)	14.0	13.6	11.2	8.7	8.1
Total Cash ($ Bil)	5.2	7.6	8.6	9.1	9.7
Enterprise Value ($ Bil)	172.8	179.2	157.0	145.5	162.6
Valuation Ratios
P/S TTM	9.7	10.9	8.8	7.6	9.5
P/EBIT TTM	26.9	28.7	19.9	14.8	19.1
P/E TTM	33.2	35.6	23.8	17.3	22.4
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9	2.6	4.7
P/EBIT TTM (Sector)	0.4	-0.0	-0.1	-0.7	3.1
P/E TTM (Sector)	-0.5	-0.3	-0.4	-0.8	0.1

	12/5/25	2024	2023
Share Price CYE	$180.36	$181.61	$160.53
Market Cap CYE ($ Bil)	163.9	165.6	145.8
Total Debt ($ Bil)	14.0	13.6	11.2
Total Cash ($ Bil)	5.2	7.6	8.6
Enterprise Value ($ Bil)	172.8	179.2	157.0
Valuation Ratios
P/S TTM	9.7	10.9	8.8
P/EBIT TTM	26.9	28.7	19.9
P/E TTM	33.2	35.6	23.8
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9
P/EBIT TTM (Sector)	0.4	-0.0	-0.1
P/E TTM (Sector)	-0.5	-0.3	-0.4

	TXN	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	17.3
Rev Chg Q	14.2%	7.1%
Rev Chg LTM	9.9%	6.1%
Rev Chg 3Y Avg	-4.6%	5.5%
PROFITABILITY	VERY GOOD
Op Inc LTM ($ Bil)	6.0
CFO LTM ($ Bil)	6.9
Net Inc LTM ($ Bil)	5.0
Op Mgn LTM	34.8%	18.8%
CFO/Rev LTM	39.9%	20.5%
Net Inc Mgn	29.2%	13.1%
VALUATION	VERY HIGH
P/S	9.7	3.2
P/CFO	24.2	15.8
P/FCF	80.4	20.5
P/E	33.2	23.5
STABILITY	VERY GOOD
Debt/Equity	0.08	0.20
Cash/Assets	0.15	0.07

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Metric	Value	Date	Source
Number of Customers	Over 100,000	1232024	Link
Number of Products	Over 80,000	3052025	Link
Industrial and Automotive Revenue Percentage	Approximately 70%	3052025	Link
Direct Revenue Percentage	Approximately 80%	3052025	Link
Number of Manufacturing Sites	15	10032022	Link
Planned New 300mm Wafer Fabs	6	10032022	Link
Richardson Fabs Daily Analog Chip Production Capacity (at full production)	Over 100 million	10032022	Link
U.S. Patents Granted	966	1012025	Link

Upcoming
1/22/2026	Earnings Release	Rev: $4.0 Bil (E) EPS: $1.28 (E)

TXN Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

Texas Instruments (TXN) experienced a stock decline for several key reasons during the approximate time period from August 31, 2025, to December 5, 2025: 1. Weak Q4 2025 Outlook. Texas Instruments issued a pessimistic forecast for its fourth-quarter 2025 profits and revenue, with guidance falling below Wall Street expectations. This triggered a significant stock drop of over 8% in pre-market trading on October 22, 2025, and between 6.82% and 7.5% in after-hours trading on October 21, 2025.

2. Disappointing Q3 2025 Earnings (in context of guidance). While Texas Instruments' third-quarter 2025 revenue of $4.74 billion surpassed analyst estimates, its earnings per share of $1.48 narrowly missed the consensus estimate of $1.49. The market's negative reaction was primarily driven by the company's subdued guidance for the fourth quarter, overshadowing the otherwise solid Q3 revenue performance.

Stock Movement Drivers

Fundamental Drivers

The -3.0% change in TXN stock from 9/4/2025 to 12/4/2025 was primarily driven by a -3.4% change in the company's Net Income Margin (%).

	9042025	12042025	Change
Stock Price ($)	185.63	180.12	-2.97%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	16675.00	17266.00	3.54%
Net Income Margin (%)	30.23%	29.21%	-3.38%
P/E Multiple	33.44	32.47	-2.90%
Shares Outstanding (Mil)	908.00	909.00	-0.11%
Cumulative Contribution			-2.97%

LTM = Last Twelve Months as of date shown

Market Drivers

9/4/2025 to 12/4/2025

	Return	Correlation
TXN	-3.0%
Market (SPY)	5.4%	45.6%
Sector (XLK)	-44.6%	16.9%

Fundamental Drivers

The -3.9% change in TXN stock from 6/5/2025 to 12/4/2025 was primarily driven by a -7.3% change in the company's P/E Multiple.

	6052025	12042025	Change
Stock Price ($)	187.45	180.12	-3.91%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	16049.00	17266.00	7.58%
Net Income Margin (%)	30.36%	29.21%	-3.81%
P/E Multiple	35.01	32.47	-7.25%
Shares Outstanding (Mil)	910.00	909.00	0.11%
Cumulative Contribution			-3.91%

LTM = Last Twelve Months as of date shown

Market Drivers

6/5/2025 to 12/4/2025

	Return	Correlation
TXN	-3.9%
Market (SPY)	15.7%	28.6%
Sector (XLK)	-38.3%	12.7%

Fundamental Drivers

The -5.4% change in TXN stock from 12/4/2024 to 12/4/2025 was primarily driven by a -7.6% change in the company's Net Income Margin (%).

	12042024	12042025	Change
Stock Price ($)	190.47	180.12	-5.43%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	15711.00	17266.00	9.90%
Net Income Margin (%)	31.60%	29.21%	-7.58%
P/E Multiple	35.02	32.47	-7.30%
Shares Outstanding (Mil)	913.00	909.00	0.44%
Cumulative Contribution			-5.43%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2024 to 12/4/2025

	Return	Correlation
TXN	-5.4%
Market (SPY)	13.7%	64.0%
Sector (XLK)	-39.3%	32.5%

Fundamental Drivers

The 11.2% change in TXN stock from 12/5/2022 to 12/4/2025 was primarily driven by a 95.9% change in the company's P/E Multiple.

	12052022	12042025	Change
Stock Price ($)	161.97	180.12	11.21%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	20190.00	17266.00	-14.48%
Net Income Margin (%)	44.21%	29.21%	-33.93%
P/E Multiple	16.57	32.47	95.95%
Shares Outstanding (Mil)	913.00	909.00	0.44%
Cumulative Contribution			11.20%

LTM = Last Twelve Months as of date shown

Market Drivers

12/5/2023 to 12/4/2025

	Return	Correlation
TXN	21.6%
Market (SPY)	53.3%	63.4%
Sector (XLK)	-20.1%	37.6%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
TXN Return	32%	18%	-10%	6%	13%	-1%	67%
Peers Return	26%	26%	-9%	40%	21%	29%	215%
S&P 500 Return	16%	27%	-19%	24%	23%	17%	112%
Monthly Win Rates [3]
TXN Win Rate	75%	67%	42%	58%	50%	40%
Peers Win Rate	46%	44%	35%	52%	35%	43%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
TXN Max Drawdown	-27%	-1%	-20%	-12%	-7%	-22%
Peers Max Drawdown	-31%	-2%	-23%	-2%	-13%	-24%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: AVGO, ADI, MCHP, AMBQ, GLSA. See TXN Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/4/2025 (YTD)

How Low Can It Go

Unique Key	Event	TXN	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-30.2%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	43.3%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	205 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-30.4%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	43.6%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	126 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-26.8%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	36.5%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	211 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-64.9%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	184.5%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1606 days	1480 days

Compare to AVGO, ADI, MCHP, AMBQ, GLSA

In The Past

Texas Instruments's stock fell -30.2% during the 2022 Inflation Shock from a high on 10/21/2021. A -30.2% loss requires a 43.3% gain to breakeven.

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About Texas Instruments (TXN)

Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery-management solutions, DC/DC switching regulators, AC/DC and isolated controllers and converters, power switches, linear regulators, voltage supervisors, voltage references, and lighting products. This segment also provides signal chain products that sense, condition, and measure signals to allow information to be transferred or converted for further processing and control for use in end markets, including amplifiers, data converters, interface products, motor drives, clocks, and sensing products. The Embedded Processing segment offers microcontrollers that are used in electronic equipment; digital signal processors for mathematical computations; and applications processors for specific computing activity. This segment offers products for use in various markets, such as industrial, automotive, personal electronics, communications equipment, enterprise systems, and calculators and other. The company also provides DLP products primarily for use in projectors to create high-definition images; calculators; and application-specific integrated circuits. It markets and sells its semiconductor products through direct sales and distributors, as well as through its website. Texas Instruments Incorporated was founded in 1930 and is headquartered in Dallas, Texas.

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Here are 1-3 brief analogies to describe Texas Instruments (TXN):

Texas Instruments is like the Intel of analog chips, powering everything from electric vehicles to smart appliances.
Texas Instruments is like Siemens for semiconductors, providing the foundational electronic components that power industrial, automotive, and consumer devices globally.

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Analog Semiconductors: These integrated circuits manage and convert real-world signals like power, temperature, and sound for use in digital systems.
Embedded Processors: These are integrated circuits designed to serve as the "brains" for electronic devices, performing specific functions and controlling operations.
DLP Technology: This proprietary technology utilizes millions of microscopic mirrors to create high-resolution displays for projectors, automotive, and industrial applications.

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Texas Instruments (TXN) sells primarily to other companies (B2B), supplying a vast array of analog and embedded processing semiconductors. The company has a highly diversified customer base, with its annual reports explicitly stating that no single customer accounts for more than 10% of its revenue. This means TXN does not have a few dominant "major customers" in the typical financial sense. However, TXN's components are integral to products across many industries. While it doesn't name specific customers due to confidentiality and the sheer volume of its client base (approximately 100,000 customers worldwide), its chips are incorporated into products manufactured by leading companies in the following sectors:

Automotive Industry: Components for advanced driver-assistance systems (ADAS), infotainment, body electronics, and powertrain. Major Tier-1 suppliers to car manufacturers are significant customers.
- Continental AG (FRA: CON)
- Denso Corporation (TYO: 6902 / OTC: DNZOY)
- Robert Bosch GmbH (private company)
Personal Electronics: Chips found in smartphones, tablets, PCs, and various consumer devices for power management, audio, and other functions.
- Apple Inc. (NASDAQ: AAPL)
- Samsung Electronics Co., Ltd. (KRX: 005930 / OTC: SSNLF)
- HP Inc. (NYSE: HPQ)
Industrial and Medical: Solutions for factory automation, control systems, test & measurement equipment, and medical devices.
- Siemens AG (FRA: SIE)
- Medtronic plc (NYSE: MDT)
Communications Equipment and Enterprise Systems: Semiconductors for telecommunications infrastructure (e.g., 5G), networking equipment, and data centers.
- Cisco Systems, Inc. (NASDAQ: CSCO)
- Ericsson (NASDAQ: ERIC)
- Nokia Corporation (NYSE: NOK)

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Haviv Ilan, President and Chief Executive Officer

Haviv Ilan serves as President and Chief Executive Officer of Texas Instruments (TI), a role he assumed in 2023. He leads the company's strategic direction and operations. Ilan began his career at TI in 1999 when TI acquired Butterfly, an Israeli wireless startup company he was involved with. Throughout his 20+ year TI career, he has held various leadership roles, including executive vice president and chief operating officer, overseeing TI's business and sales organizations, technology and manufacturing operations, and IT solutions. He holds bachelor's and master's degrees in electrical engineering from Tel Aviv University and an MBA from the Joint International Executive MBA Program at Northwestern University's Kellogg School of Management and Tel Aviv University's Leon Recanati Graduate School of Business Administration.

Rafael Lizardi, Senior Vice President and Chief Financial Officer

Rafael Lizardi is a Senior Vice President and Chief Financial Officer of Texas Instruments. He joined Texas Instruments in 2001 as part of the company's finance development program after serving five years as an officer in the U.S. Army Corps of Engineers. Prior to this role, Lizardi served as the corporate controller. During his career at TI, he has held a number of leadership positions in finance and operations, including controller for the company's High Volume Analog and Logic business and director of corporate financial planning. Lizardi earned a bachelor's degree in electrical engineering from the United States Military Academy at West Point and a Master of Business Administration from Stanford University.

Krunali Patel, Senior Vice President and Chief Information Officer, Information Technology (IT) Solutions

Krunali Patel is Senior Vice President and Chief Information Officer of Texas Instruments, responsible for the Information Technology Solutions organization. She joined TI in 1996 as a digital design engineer. Prior to her current role, Patel served as vice president of TI's design and manufacturing IT solutions organization, leading the development and implementation of information technology strategies and roadmaps for manufacturing automation. She has held various leadership roles, including director of the ASIC IP and EDA development organization and business manager for the Custom Wireless Infrastructure ASIC business. Patel holds a Master of Science in electrical engineering from Michigan State University.

Amichai Ron, Senior Vice President, Embedded Processing and DLP® Products

Amichai Ron is a Senior Vice President of Texas Instruments, responsible for the Embedded Processing business and DLP® Products organization. Before this, he served as the vice president and general manager of TI's Amplifiers business. Ron started his TI career in 2000 and has held various business leadership roles in TI's Precision Analog, High Speed Data Converters, and Embedded Connectivity Solutions organizations. He earned bachelor's and master's degrees in electrical engineering from Tel Aviv University.

Ahmad S. Bahai, Senior Vice President and Chief Technology Officer

Ahmad S. Bahai, Ph.D., is a Senior Vice President and Chief Technology Officer (CTO) of Texas Instruments, responsible for guiding breakthrough innovation, corporate research, and Kilby Labs. Bahai joined TI in 2012 as part of the company's acquisition of National Semiconductor. Throughout his career, he has held several leadership roles, including director of research labs and CTO of National Semiconductor, technical manager of a research group at Bell Laboratories, and founder of Algorex, a communication and acoustic IC and system company that was acquired by National Semiconductor. He holds a Master of Science in electrical engineering from Imperial College, University of London, and a doctorate degree in electrical engineering from the University of California, Berkeley.

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Texas Instruments (TXN) primarily focuses on two main product categories: analog semiconductors and embedded processors, which together account for over 80% of its revenue.

Addressable Market Sizes for Texas Instruments' Main Products:

Analog Semiconductors

The global addressable market for analog semiconductors was valued between approximately USD 87.5 billion and USD 101.22 billion in 2024. This market is projected to grow to an estimated range of USD 147.57 billion by 2032 and USD 180.24 billion by 2034. Another estimate puts the global analog semiconductor market at USD 98.9 billion in 2024, with a projection to reach USD 179.5 billion by 2035.

Embedded Processors

The global addressable market for embedded processors was valued between approximately USD 21.15 billion and USD 26.4 billion in 2024. This market is projected to reach around USD 39.87 billion by 2033 and USD 50.71 billion by 2035. Another source indicates the embedded processors market was valued at USD 29.63 billion in 2023 and is expected to reach USD 48.65 billion by 2030.

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Texas Instruments (TXN) is expected to drive future revenue growth over the next 2-3 years through several key areas:

Recovery and Growth in Industrial and Automotive Markets: Texas Instruments' two largest markets, industrial and automotive, are anticipated to be significant drivers of revenue growth. These combined markets represented approximately 70% of TI's revenue in 2024 and have shown a compound annual growth rate of about 7% since 2013. The company has observed a broad recovery across all sectors within the industrial market, with an upper-teens year-on-year increase and mid-teens sequential growth in Q2 2025. The automotive market also increased mid-single digits year-on-year in Q2 2025, with potential for further growth, particularly in the China automotive market, driven by increased electric vehicle production and content per vehicle.
Strategic Investments in Manufacturing and Technology (300mm Production): TI's ongoing, elevated capital expenditure cycle, focused on 300mm production, is a crucial long-term growth driver. The company expects these investments to uniquely position it to deliver dependable, low-cost capacity at scale to meet customer demand. This commitment to investments in manufacturing and technology is aimed at supporting a competitive advantage in long-lived markets.
Expansion in Data Center and Enterprise Systems: The data center market is identified as an emerging major growth area where Texas Instruments is expanding its investments. Growth in enterprise systems and communications equipment markets is notably linked to high demand for data center capabilities. The data center segment showed impressive growth, expanding over 50% year-on-year in Q2 2025. Enterprise systems were up about 40% year-on-year and 10% sequentially in Q2 2025, with communications equipment growing more than 50% year-on-year and about 10% sequentially in the same quarter.
Broad Product Portfolio and Market Reach: Texas Instruments consistently emphasizes its competitive advantages, including its broad product portfolio of analog and embedded processing chips and the extensive reach of its market channels. Analog revenue grew by 16% and Embedded Processing by 9% year-on-year in Q3 2025. In Q2 2025, Analog revenue grew 18% year-over-year and Embedded Processing grew 10%. This wide array of products caters to diverse and long-lived positions across various end markets, providing a stable foundation for ongoing revenue.

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Share Repurchases

Texas Instruments repurchased approximately $3.615 billion of its stock in 2022.
In 2023, share repurchases totaled approximately $293 million.
Approximately $929 million in share repurchases were made in 2024.
In September 2022, the board authorized an additional $15 billion for common stock repurchases, supplementing the approximately $8.2 billion remaining from previous authorizations as of June 2022.

Share Issuance

Texas Instruments had $338 million in stock-based compensation for the fiscal quarter ending September 30, 2025, which reflects shares issued as compensation.
The number of shares outstanding saw a slight increase of 0.33% in 2024 to 0.919 billion, after a 1.08% decline in 2023.

Inbound Investments

Texas Instruments expects to receive between $6 billion and $9 billion in Investment Tax Credits (ITC) from the CHIPS Act, including $1.6 billion in direct grants, to support its U.S. manufacturing expansions.

Outbound Investments

Texas Instruments has not made any significant strategic acquisitions of other companies within the last 3-5 years.

Capital Expenditures

Capital expenditures have significantly increased, reaching $5.071 billion in 2023 and $4.82 billion in 2024, up from $2.797 billion in 2022 and $2.462 billion in 2021.
For 2025, Texas Instruments anticipates capital expenditures to be approximately $5 billion. For 2026, projected capital expenditures are between $2 billion and $5 billion, depending on revenue.
The primary focus of these expenditures is a multi-year, multi-billion dollar investment plan to expand internal 300mm wafer fabrication capacity across new facilities in Texas (Richardson, Sherman) and Utah (Lehi), with a long-term goal of investing over $60 billion across seven U.S. semiconductor fabs.

Interactive Breakdown

Texas Instruments Interactive Breakdown Analysis

Better Bets than Texas Instruments (TXN)

	TXN	Better Performance than TXN
Metric	Value	INDUSTRY: Semiconductors
Rev Chg LTM	9.9%	NVDA (71.6%), MU (48.9%), AMD (31.8%), AVGO (28.0%), QCOM (13.7%)
Rev Chg 3Y Avg	-4.6%	NVDA (92.0%), AVGO (24.0%), MU (20.3%), AMD (12.9%), QCOM (1.2%)
Op Mgn LTM	34.8%	NVEC (59.1%), NVDA (58.1%), AVGO (39.0%), OLED (36.5%), RMBS (36.5%)
CFO/Rev LTM	39.9%	RMBS (47.0%), MU (46.9%), NVDA (46.6%), AVGO (42.4%), ADI (40.1%)
FCF/Rev LTM	12.0%	NVDA (43.6%), AVGO (41.6%), ADI (35.4%), QCOM (28.9%), AMD (17.0%)
Total Yield	6.0%	NVEC (10.5%), SWKS (7.9%)
P/S	9.7	INTC (2.8), QCOM (4.0), MU (5.0), AMD (8.2), MRVL (9.2)
P/Op Inc	27.8	QCOM (14.5), FSLR (17.4), NXPI (19.1), MU (19.1), ON (19.4)

	TXN	Better Performance than TXN
Metric	Value	SECTOR: Information Technology
Rev Chg LTM	9.9%	NVDA (71.6%), PLTR (47.2%), AMD (31.8%), AVGO (28.0%), MSFT (15.6%)
Rev Chg 3Y Avg	-4.6%	NVDA (92.0%), AVGO (24.0%), MSFT (13.2%), ORCL (10.2%), AAPL (1.8%)
Op Mgn LTM	34.8%	NVDA (58.1%), APP (52.5%), MSFT (46.3%), ANET (42.9%), AVGO (39.0%)
CFO/Rev LTM	39.9%	MSFT (50.0%), MU (46.9%), PLTR (46.6%), NVDA (46.6%), AVGO (42.4%)
FCF/Rev LTM	12.0%	PLTR (46.0%), NVDA (43.6%), AVGO (41.6%), MSFT (26.6%), AAPL (23.5%)
Total Yield	6.0%	MSTR (8.6%), DELL (7.6%), ACN (7.4%), CTSH (7.0%), CSCO (6.0%)
P/S	9.7	IBM (4.0), CSCO (4.9), MU (5.0), AMD (8.2), AAPL (9.3)
P/Op Inc	27.8	AMAT (16.9), MU (19.1), CSCO (22.0), IBM (22.8), LRCX (26.2)

	TXN	Better Performance than TXN
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	9.9%	LLY (36.8%), META (21.3%), MA (14.6%), GOOGL (13.4%), AMZN (10.9%)
Rev Chg 3Y Avg	-4.6%	BRK-B (19.8%), META (17.3%), AMZN (11.3%), GOOGL (11.0%), TSLA (9.3%)
Op Mgn LTM	34.8%	V (66.4%), MA (58.3%), META (43.2%), LLY (43.0%), MRK (34.9%)
CFO/Rev LTM	39.9%	RY (135.4%), V (57.6%), BAC (57.3%), META (56.8%), MA (56.1%)
FCF/Rev LTM	12.0%	MA (52.5%), META (23.7%), NFLX (20.7%), JNJ (20.3%), GOOGL (19.1%)
Total Yield	6.0%	XOM (10.3%), JNJ (8.4%), BAC (7.7%), JPM (6.7%), BRK-B (6.2%)
P/S	9.7	WMT (1.1), BRK-B (2.7), AMZN (3.5), JPM (4.9), GOOGL (7.6)
P/Op Inc	27.8	XOM (12.4), JNJ (18.5), META (22.6), GOOGL (23.7), WMT (26.9)

		Best Bets In Information Technology Sector
	TXN	VRSN	IDCC	NVDA	GEN	DBX	YOU	MPWR	DAVE	FISV	CRUS
What You Pay
P/E	33.1	32.2	17.9	44.5	30.7	15.7	17.7	23.3	18.3	19.3	16.9
P/EBIT	26.8	23.2	14.5	38.2	10.9	12.8	19.3	63.7	20.9	11.7	13.3
What You Get
Rev Chg Q	14.2%	7.3%	28.0%	55.6%	25.3%	-0.7%	15.5%	18.9%	63.0%	0.9%	3.5%
Rev Chg LTM	9.9%	5.5%	28.8%	71.6%	16.2%	-0.4%	17.8%	30.5%	53.8%	5.2%	2.2%
Rev Chg 3Y Avg	-4.6%	5.2%	27.1%	92.0%	16.5%	3.4%	31.0%	17.2%	38.6%	6.8%	-0.1%
FCF/Rev 3Y Avg	10.2%	57.4%	54.2%	41.3%	36.7%	33.4%	32.5%	28.6%	26.0%	21.5%	21.1%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	MU, ARRY Beat Texas Instruments Stock on Price & Growth	Actionable
2	High Margins, Lower Price: Is TXN a Buy?	Actionable
3	TXN Pricing Powerhouse Now 12% Cheaper - Buy?	Actionable
4	Wait For A Dip To Buy Texas Instruments Stock	Buy or Fear
5	Is Texas Instruments Stock Built to Withstand a Pullback?	Return
6	TXN Capital Return Hits $100 Bil in 10 Years
7	Day 6 of Loss Streak for Texas Instruments Stock with -9.1% Return (vs. 2.2% YTD) [9/4/2025]	Notification
8	Day 6 of Loss Streak for Texas Instruments Stock with -9.1% Return (vs. 2.2% YTD) [9/4/2025]	Notification
9	Texas Instruments vs Microsoft: Which Is A Better Investment?	Counter-Intuitive Comparisons
10	Texas Instruments vs Rambus: Which Is A Better Investment?	Counter-Intuitive Comparisons
11	ARTICLES
12	Pay Less, Gain More: MU Tops Texas Instruments Stock		December 4th, 2025
13	Why MU Could Outperform Texas Instruments Stock		November 21st, 2025
14	High Margins, Lower Price: Is Texas Instruments Stock a Buy?		November 1st, 2025
15	Why FSLR Could Outperform Texas Instruments Stock		October 31st, 2025
16	Texas Instruments Stock To $136?		October 23rd, 2025

	Title
0	DASHBOARDS
1	MU, ARRY Beat Texas Instruments Stock on Price & Growth
2	High Margins, Lower Price: Is TXN a Buy?
3	TXN Pricing Powerhouse Now 12% Cheaper - Buy?
4	Wait For A Dip To Buy Texas Instruments Stock
5	Is Texas Instruments Stock Built to Withstand a Pullback?
6	TXN Capital Return Hits $100 Bil in 10 Years
7	Day 6 of Loss Streak for Texas Instruments Stock with -9.1% Return (vs. 2.2% YTD) [9/4/2025]
8	Day 6 of Loss Streak for Texas Instruments Stock with -9.1% Return (vs. 2.2% YTD) [9/4/2025]
9	Texas Instruments vs Microsoft: Which Is A Better Investment?
10	Texas Instruments vs Rambus: Which Is A Better Investment?
11	ARTICLES
12	Pay Less, Gain More: MU Tops Texas Instruments Stock
13	Why MU Could Outperform Texas Instruments Stock
14	High Margins, Lower Price: Is Texas Instruments Stock a Buy?
15	Why FSLR Could Outperform Texas Instruments Stock
16	Texas Instruments Stock To $136?

Trade Ideas

Select past ideas related to TXN. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	1.9%	1.9%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	3.7%	3.7%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.1%	5.1%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	5.5%	5.5%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	8.0%	8.0%	0.0%
TXN_10312025_Monopoly_xInd_xCD_Getting_Cheaper	10312025	TXN	Texas Instruments	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	13.1%	13.1%	-5.0%
TXN_8312022_Monopoly_xInd_xCD_Getting_Cheaper	08312022	TXN	Texas Instruments	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	5.8%	4.8%	-10.2%
TXN_2282022_Monopoly_xInd_xCD_Getting_Cheaper	02282022	TXN	Texas Instruments	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	0.1%	3.8%	-12.0%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	1.9%	1.9%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	3.7%	3.7%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.1%	5.1%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	5.5%	5.5%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	8.0%	8.0%	0.0%
TXN_10312025_Monopoly_xInd_xCD_Getting_Cheaper	10312025	TXN	Texas Instruments	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	13.1%	13.1%	-5.0%
TXN_8312022_Monopoly_xInd_xCD_Getting_Cheaper	08312022	TXN	Texas Instruments	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	5.8%	4.8%	-10.2%
TXN_2282022_Monopoly_xInd_xCD_Getting_Cheaper	02282022	TXN	Texas Instruments	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	0.1%	3.8%	-12.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
USAR	USA Rare Earth	1.8	24.7%	58557.7%
PATH	UiPath	9.9	24.4%	45.4%
ASTS	AST SpaceMobile	17.6	18.2%	244.3%
FLNC	Fluence Energy	3.1	17.6%	47.0%
SAIC	Science Applications International	4.8	16.3%	-7.7%
AEVA	Aeva Technologies	0.9	16.0%	234.3%
AXGN	Axogen	1.5	16.0%	99.4%
SANA	Sana Biotechnology	1.3	15.9%	217.8%
OKLO	Oklo	15.6	15.6%	425.9%
RGTI	Rigetti Computing	9.0	15.4%	97.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HOV	Hovnanian Enterprises	0.7	-22.5%	-22.4%
SYM	Symbotic	6.6	-17.4%	155.1%
BBW	Build-A-Bear Workshop	0.6	-15.5%	7.1%
DJCO	Daily Journal	0.6	-11.9%	-22.5%
PVH	PVH	3.7	-11.9%	-26.9%
SNOW	Snowflake	78.7	-11.4%	52.0%
QURE	uniQure	1.2	-10.8%	28.8%
MBX	MBX Biosciences	1.0	-10.0%	65.7%
WLY	John Wiley & Sons	1.8	-8.6%	-18.7%
LUMN	Lumen Technologies	8.7	-8.3%	65.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	7.7	601.0%	-45.7%
HPP	Hudson Pacific Properties	6.1	591.8%	-36.1%
AEVA	Aeva Technologies	0.9	50.8%	234.3%
MPLT	MapLight Therapeutics	0.8	41.2%
USAR	USA Rare Earth	1.8	40.6%	58557.7%
PATH	UiPath	9.9	36.0%	45.4%
EVEX	Eve	1.6	34.4%	-7.4%
TMC	TMC The Metals	2.9	33.8%	596.4%
TE	T1 Energy	0.8	33.1%
INDI	Indie Semiconductor	0.9	32.1%	13.8%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.0	-52.7%	-69.4%
CTEV	Claritev	0.6	-32.7%
SYM	Symbotic	6.6	-30.7%	155.1%
FULC	Fulcrum Therapeutics	0.5	-22.6%	86.4%
HOV	Hovnanian Enterprises	0.7	-22.0%	-22.4%
VTYX	Ventyx Biosciences	0.6	-19.9%	265.3%
SIG	Signet Jewelers	3.5	-17.8%	7.2%
CMCL	Caledonia Mining	0.5	-17.8%	175.7%
QURE	uniQure	1.2	-17.7%	28.8%
URGN	UroGen Pharma	1.2	-17.5%	128.0%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
LXP	LXP Industrial Trust	2.8	406.1%	25.7%
OLMA	Olema Pharmaceuticals	2.4	237.1%	374.1%
COGT	Cogent Biosciences	5.4	178.2%	404.0%
CDTX	Cidara Therapeutics	5.9	119.6%	720.3%
SGML	Sigma Lithium	1.1	113.2%	-11.1%
IRWD	Ironwood Pharmaceuticals	0.6	99.5%	-15.8%
ALMS	Alumis	0.6	82.4%	5.6%
NPCE	NeuroPace	0.6	80.5%	51.7%
BW	Babcock & Wilcox Enterprises	0.7	80.5%	311.6%
CBLL	CeriBell	0.7	75.4%	-26.0%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CCOI	Cogent Communications	0.9	-53.0%	-74.0%
UP	Wheels Up Experience	0.5	-48.0%	-60.0%
TLRY	Tilray Brands	7.7	-41.8%	-45.7%
AMSC	American Superconductor	1.4	-41.4%	34.0%
CTEV	Claritev	0.6	-41.2%
BTDR	Bitdeer Technologies	2.5	-40.7%	-41.6%
FRMI	Fermi	11.1	-40.2%
JANX	Janux Therapeutics	1.0	-39.3%	-69.4%
ARDT	Ardent Health	1.2	-39.1%	-48.1%
SMR	NuScale Power	3.4	-35.9%	27.4%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
USAR	USA Rare Earth	1.8	24.7%	58557.7%
PATH	UiPath	9.9	24.4%	45.4%
ASTS	AST SpaceMobile	17.6	18.2%	244.3%
FLNC	Fluence Energy	3.1	17.6%	47.0%
SAIC	Science Applications International	4.8	16.3%	-7.7%
AEVA	Aeva Technologies	0.9	16.0%	234.3%
AXGN	Axogen	1.5	16.0%	99.4%
SANA	Sana Biotechnology	1.3	15.9%	217.8%
OKLO	Oklo	15.6	15.6%	425.9%
RGTI	Rigetti Computing	9.0	15.4%	97.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HOV	Hovnanian Enterprises	0.7	-22.5%	-22.4%
SYM	Symbotic	6.6	-17.4%	155.1%
BBW	Build-A-Bear Workshop	0.6	-15.5%	7.1%
DJCO	Daily Journal	0.6	-11.9%	-22.5%
PVH	PVH	3.7	-11.9%	-26.9%
SNOW	Snowflake	78.7	-11.4%	52.0%
QURE	uniQure	1.2	-10.8%	28.8%
MBX	MBX Biosciences	1.0	-10.0%	65.7%
WLY	John Wiley & Sons	1.8	-8.6%	-18.7%
LUMN	Lumen Technologies	8.7	-8.3%	65.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	7.7	601.0%	-45.7%
HPP	Hudson Pacific Properties	6.1	591.8%	-36.1%
AEVA	Aeva Technologies	0.9	50.8%	234.3%
MPLT	MapLight Therapeutics	0.8	41.2%
USAR	USA Rare Earth	1.8	40.6%	58557.7%
PATH	UiPath	9.9	36.0%	45.4%
EVEX	Eve	1.6	34.4%	-7.4%
TMC	TMC The Metals	2.9	33.8%	596.4%
TE	T1 Energy	0.8	33.1%
INDI	Indie Semiconductor	0.9	32.1%	13.8%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.0	-52.7%	-69.4%
CTEV	Claritev	0.6	-32.7%
SYM	Symbotic	6.6	-30.7%	155.1%
FULC	Fulcrum Therapeutics	0.5	-22.6%	86.4%
HOV	Hovnanian Enterprises	0.7	-22.0%	-22.4%
VTYX	Ventyx Biosciences	0.6	-19.9%	265.3%
SIG	Signet Jewelers	3.5	-17.8%	7.2%
CMCL	Caledonia Mining	0.5	-17.8%	175.7%
QURE	uniQure	1.2	-17.7%	28.8%
URGN	UroGen Pharma	1.2	-17.5%	128.0%

Peer Comparisons for Texas Instruments

Peers to compare with:

Financials

	TXN	AVGO	ADI	MCHP	AMBQ	GLSA	Median
Name	Texas In.	Broadcom	Analog D.	Microchi.	Ambiq Mi.	Green So.
Mkt Price	180.12	381.03	277.26	64.72	27.99	-	180.12
Mkt Cap	163.7	1,796.2	137.1	34.9	-	-	150.4
Rev LTM	17,266	59,926	10,387	4,212	69	-	10,387
Op Inc LTM	6,012	23,366	2,630	155	-38	-	2,630
FCF LTM	2,080	24,930	3,678	754	-21	-	2,080
FCF 3Y Avg	1,732	20,319	3,439	1,807	-	-	2,623
CFO LTM	6,897	25,438	4,162	841	-16	-	4,162
CFO 3Y Avg	6,560	20,821	4,310	2,047	-	-	5,435

Growth & Margins

	TXN	AVGO	ADI	MCHP	AMBQ	GLSA	Median
Name	Texas In.	Broadcom	Analog D.	Microchi.	Ambiq Mi.	Green So.
Rev Chg LTM	9.9%	28.0%	7.1%	-23.4%	-	-	8.5%
Rev Chg 3Y Avg	-4.6%	24.0%	-0.6%	-14.9%	-	-	-2.6%
Rev Chg Q	14.2%	22.0%	24.6%	-2.0%	-	-	18.1%
QoQ Delta Rev Chg LTM	3.5%	5.0%	5.8%	-0.6%	-	-	4.3%
Op Mgn LTM	34.8%	39.0%	25.3%	3.7%	-54.6%	-	25.3%
Op Mgn 3Y Avg	38.0%	38.4%	27.5%	21.0%	-	-	32.8%
QoQ Delta Op Mgn LTM	-0.1%	1.5%	1.8%	-1.2%	-	-	0.7%
CFO/Rev LTM	39.9%	42.4%	40.1%	20.0%	-22.6%	-	39.9%
CFO/Rev 3Y Avg	38.6%	44.6%	39.5%	30.4%	-	-	39.0%
FCF/Rev LTM	12.0%	41.6%	35.4%	17.9%	-29.7%	-	17.9%
FCF/Rev 3Y Avg	10.2%	43.5%	31.5%	26.9%	-	-	29.2%

Valuation

	TXN	AVGO	ADI	MCHP	AMBQ	GLSA	Median
Name	Texas In.	Broadcom	Analog D.	Microchi.	Ambiq Mi.	Green So.
Mkt Cap	163.7	1,796.2	137.1	34.9	-	-	150.4
P/S	9.7	21.7	11.3	8.2	-	-	10.5
P/EBIT	26.8	56.5	44.3	731.6	-	-	50.4
P/E	33.1	68.6	60.1	-187.4	-	-	46.6
P/CFO	24.2	51.1	28.3	41.2	-	-	34.8
Total Yield	6.0%	1.5%	3.3%	1.6%	-	-	2.4%
Dividend Yield	3.0%	0.0%	1.6%	2.1%	-	-	1.9%
FCF Yield 3Y Avg	1.1%	3.1%	3.2%	4.4%	-	-	3.1%
D/E	0.1	0.0	0.1	0.2	-	-	0.1
Net D/E	0.1	0.0	0.0	0.1	-	-	0.0

Returns

	TXN	AVGO	ADI	MCHP	AMBQ	GLSA	Median
Name	Texas In.	Broadcom	Analog D.	Microchi.	Ambiq Mi.	Green So.
1M Rtn	13.0%	8.3%	20.9%	9.8%	1.6%	-	9.8%
3M Rtn	-3.0%	24.7%	12.7%	1.4%	-31.0%	-	1.4%
6M Rtn	-3.9%	47.2%	27.7%	2.2%	-	-	14.9%
12M Rtn	-5.4%	125.6%	29.2%	8.3%	-	-	18.8%
3Y Rtn	11.2%	655.8%	73.4%	-9.1%	-	-	42.3%
1M Excs Rtn	11.8%	7.0%	19.6%	8.5%	0.4%	-	8.5%
3M Excs Rtn	-9.1%	8.2%	6.4%	-6.7%	-24.5%	-	-6.7%
6M Excs Rtn	-19.4%	31.7%	12.2%	-13.3%	-	-	-0.5%
12M Excs Rtn	-21.2%	117.7%	13.0%	-18.4%	-	-	-2.7%
3Y Excs Rtn	-59.2%	596.0%	5.1%	-79.5%	-	-	-27.1%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/23/2025	2/14/2025	2/2/2024	2/3/2023	2/4/2022	2/5/2021	2/20/2020
Key Financials
Total Revenue	17,266	15,641	17,519	20,028	18,344	14,461	14,383
EBITDA	8,106	7,541	9,009	11,225	10,057	7,199	6,948
Operating Income	6,012	5,341	7,331	10,397	9,156	6,116	5,975
Net Income	5,043	4,799	6,510	8,749	7,769	5,595	5,017
EPS	5.52	5.24	7.13	9.51	8.38	6.05	5.33
Growth Rates
Total Revenue Growth	9.9%	-10.7%	-12.5%	9.2%	26.9%	0.5%	-8.9%
EBITDA Growth	6.7%	-16.3%	-19.7%	11.6%	39.7%	3.6%	-10.5%
Operating Income Growth	9.4%	-27.1%	-29.5%	13.6%	49.7%	2.4%	-15.1%
Net Income Growth	1.6%	-26.3%	-25.6%	12.6%	38.9%	11.5%	-10.1%
Margins
EBITDA Margin	46.9%	48.2%	51.4%	56.0%	54.8%	49.8%	48.3%
Operating Income Margin	34.8%	34.1%	41.8%	51.9%	49.9%	42.3%	41.5%
Net Income Margin	29.2%	30.7%	37.2%	43.7%	42.4%	38.7%	34.9%
Cash & Debt
Total Cash	5,186	7,580	8,575	9,067	9,739	6,568	5,387
Total Debt	14,046	13,596	11,223	8,735	8,124	7,047	6,062
Net Debt / (Cash)	8,860	6,016	2,648	-332	-1,615	479	675
Cash Flows
Net Cash from Operations	6,897	6,318	6,420	8,720	8,756	6,139	6,649
Free Cash from Operations	2,080	1,498	1,349	5,923	6,294	5,490	5,802
Returns to Shareholders
Dividends	4,949	4,795	4,557	4,297	3,886	3,426	3,008
Share Repurchases	1,611	929	293	3,615	527	2,553	2,960

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/23/2025	7/29/2025	4/24/2025	2/14/2025	10/23/2024	7/24/2024	4/24/2024	2/2/2024	10/25/2023	7/26/2023	4/26/2023	2/3/2023
Key Financials Quarterly
Total Revenue	4,742	4,448	4,069	4,007	4,151	3,822	3,661	4,077	4,532	4,531	4,379	4,670
Ebitda	2,242	2,092	1,848	1,924	2,087	1,759	1,771	1,983	2,340	2,391	2,295	2,490
Operating Income	1,748	1,563	1,324	1,377	1,554	1,248	1,162	1,533	1,892	1,972	1,934	2,224
Net Income	1,364	1,295	1,179	1,205	1,362	1,127	1,105	1,371	1,709	1,722	1,708	1,962
EPS	1.49	1.42	1.29	1.32	1.48	1.23	1.21	1.51	1.87	1.89	1.87	2.17
Key Financials TTM
Total Revenue TTM	17,266	16,675	16,049	15,641	15,711	16,092	16,801	17,519	18,112	18,821	19,502	20,028
Ebitda TTM	8,106	7,951	7,618	7,541	7,600	7,853	8,485	9,009	9,516	10,149	10,728	11,225
Operating Income TTM	6,012	5,818	5,503	5,341	5,497	5,835	6,559	7,331	8,022	8,885	9,702	10,397
Net Income TTM	5,043	5,041	4,873	4,799	4,965	5,312	5,907	6,510	7,101	7,687	8,256	8,749
Growth Rates Quarterly
Total Revenue Growth	14.2%	16.4%	11.1%	-1.7%	-8.4%	-15.6%	-16.4%	-12.7%	-13.5%	-13.1%	-10.7%	-3.4%
EBITDA Growth	7.4%	18.9%	4.3%	-3.0%	-10.8%	-26.4%	-22.8%	-20.4%	-21.3%	-19.5%	-17.8%	-8.6%
Operating Income Growth	12.5%	25.2%	13.9%	-10.2%	-17.9%	-36.7%	-39.9%	-31.1%	-31.3%	-29.3%	-26.4%	-13.0%
Net Income Growth	0.1%	14.9%	6.7%	-12.1%	-20.3%	-34.6%	-35.3%	-30.1%	-25.5%	-24.8%	-22.4%	-8.2%
Margins Quarterly
EBITDA Margin	47.3%	47.0%	45.4%	48.0%	50.3%	46.0%	48.4%	48.6%	51.6%	52.8%	52.4%	53.3%
Operating Income Margin	36.9%	35.1%	32.5%	34.4%	37.4%	32.7%	31.7%	37.6%	41.7%	43.5%	44.2%	47.6%
Net Income Margin	28.8%	29.1%	29.0%	30.1%	32.8%	29.5%	30.2%	33.6%	37.7%	38.0%	39.0%	42.0%
Cash & Debt
Total Cash	5,186	5,359	5,005	7,580	8,752	9,688	10,393	8,575	8,948	9,552	9,545	9,067
Total Debt	14,046	14,043	12,848	13,596	14,574	13,891	14,189	11,223	11,222	11,219	10,126	8,735
Net Debt / (Cash)	8,860	8,684	7,843	6,016	5,822	4,203	3,796	2,648	2,274	1,667	581	-332
Cash Flows Quarterly
FCF from Operations	2,190	1,860	849	1,998	1,732	1,571	1,017	1,924	1,937	1,399	1,160	2,042
Cash Flows TTM
FCF from Operations TTM	6,897	6,439	6,150	6,318	6,244	6,449	6,277	6,420	6,538	7,367	7,736	8,720
Returns to Shareholders Quarterly
Dividends	1,236	1,235	1,238	1,240	1,187	1,185	1,183	1,181	1,126	1,125	1,125	1,123
Share Repurchases	119	302	653	537	318	71	3	65	46	79	103	848
Return on Invested Capital (ROIC) Quarterly
ROIC	68.0%	63.1%	62.4%	81.2%	93.6%	107.3%	104.6%	205.1%	295.9%	407.0%	1168.7%	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	60.1%	59.6%	62.9%	78.1%	83.1%	122.7%	150.9%	243.0%	311.7%	467.0%	1458.6%	-

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Analog	13,040	15,359	14,050	10,886	10,223
Embedded Processing	3,368	3,261	3,049	2,570	2,943
Other	1,111	1,408	1,245	1,005	1,217
Total	17,519	20,028	18,344	14,461	14,383

Operating Income by Segment

$ Mil	2024	2023	2022	2021	2020
Analog	5,821	8,359	7,393	4,912	4,477
Embedded Processing	1,008	1,253	1,174	743	907
Other	502	528	393	239	339
Total	7,331	10,140	8,960	5,894	5,723

Price Behavior

Price Behavior

Market Price	$180.12
Market Cap ($ Bil)	163.7
First Trading Date	06/01/1972
Distance from 52W High	-17.3%
	50 Days	200 Days
DMA Price	$169.16	$180.09
DMA Trend	down	down
Distance from DMA	6.5%	0.0%
	3M	1YR
Volatility	29.4%	40.1%
Downside Capture	139.81	114.85
Upside Capture	89.80	94.83
Correlation (SPY)	39.9%	64.0%

TXN Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.04	1.18	0.94	0.84	1.29	1.30
Up Beta	0.44	1.16	1.16	1.01	1.56	1.48
Down Beta	-0.03	0.63	0.97	1.21	1.32	1.18
Up Capture	164%	91%	16%	32%	77%	133%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	21	30	65	128	380
Down Capture	118%	170%	140%	91%	109%	107%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	9	19	31	58	118	368

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of TXN With Other Asset Classes (Last 1Y)
	TXN	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-7.5%	-37.4%	14.6%	57.6%	4.7%	-5.6%	-3.5%
Annualized Volatility	39.9%	56.9%	19.6%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	-0.10	-0.49	0.57	2.22	0.10	-0.47	0.03
Correlation With Other Assets		32.4%	63.9%	2.2%	23.3%	47.6%	28.8%

ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of TXN With Other Asset Classes (Last 5Y)
	TXN	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	5.7%	4.4%	15.1%	18.0%	11.7%	4.8%	40.5%
Annualized Volatility	30.4%	33.2%	17.1%	15.5%	18.8%	19.0%	49.0%
Sharpe Ratio	0.23	0.24	0.71	0.93	0.51	0.17	0.68
Correlation With Other Assets		53.4%	69.3%	9.3%	17.2%	47.4%	27.1%

Based On 10-Year Data

		Comparison of TXN With Other Asset Classes (Last 10Y)
	TXN	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	15.3%	14.1%	14.5%	14.2%	5.7%	5.3%	76.1%
Annualized Volatility	29.8%	28.9%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.54	0.53	0.69	0.79	0.25	0.23	0.94
Correlation With Other Assets		63.7%	73.0%	4.0%	22.6%	48.2%	18.6%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	16,550,837
Short Interest: % Change Since 10312025	-6.1%
Average Daily Volume	7,531,869
Days-to-Cover Short Interest	2.20
Basic Shares Quantity	909,000,000
Short % of Basic Shares	1.8%

Returns Analyses

	Title
0	Is Texas Instruments Stock Built to Withstand a Pullback?
1	TXN YTD Stock Return Of -100% Underperforms AVGO by 0% and Underperforms AVGO by 0%
2	Texas Instruments Stock Return Comparison
3	[10/13/2021] Texas Instruments Incorporated (TXN) Stock Price Forecast: AI Forecasts TXN Stock Price To Be Around $194.20 In A Month (Up 3.8%)
4	Texas Instruments Total Shareholder Return (TSR): -9.9% in 2022 and 11.4% 3-yr returns (below peer average)

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10232025	10-Q 9/30/2025
6302025	7292025	10-Q 6/30/2025
3312025	4242025	10-Q 3/31/2025
12312024	2142025	10-K 12/31/2024
9302024	10232024	10-Q 9/30/2024
6302024	7242024	10-Q 6/30/2024
3312024	4242024	10-Q 3/31/2024
12312023	2022024	10-K 12/31/2023
9302023	10252023	10-Q 9/30/2023
6302023	7262023	10-Q 6/30/2023
3312023	4262023	10-Q 3/31/2023
12312022	2032023	10-K 12/31/2022
9302022	10262022	10-Q 9/30/2022
6302022	7272022	10-Q 6/30/2022
3312022	4272022	10-Q 3/31/2022
12312021	2042022	10-K 12/31/2021

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Texas Instruments (TXN)

Market Price (12/5/2025): $180.36 | Market Cap: $163.9 BilSector: Information Technology | Industry: Semiconductors

Texas Instruments (TXN)

Market Price (12/5/2025): $180.36Market Cap: $163.9 BilSector: Information TechnologyIndustry: Semiconductors

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Analog Semiconductors

Embedded Processors

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Market Price (12/5/2025): $180.36 | Market Cap: $163.9 Bil
Sector: Information Technology | Industry: Semiconductors

Market Price (12/5/2025): $180.36
Market Cap: $163.9 Bil
Sector: Information Technology
Industry: Semiconductors