TEXAS INSTRUMENTS INCTXN
TEXAS INSTRUMENTS INC Financial Overview 2021–2025
Texas Instruments reversed a multi-year contraction with a 13.0% revenue surge in FY2025, signaling a decisive turn in the semiconductor cycle. This rebound validates the company’s steadfast investment strategy, which maintained high factory spending to secure long-term cost advantages despite near-term headwinds. The top-line trajectory highlights this volatility, with revenue moving from $18.34 billion in FY2021 to a cyclical low in FY2024, before recovering to $17.68 billion in FY2025.
Operational momentum is accelerating, led by the core Analog segment which grew 15% to account for approximately 79% of total sales. While capital expenditures remained substantial at $4.55 billion to fund 300-millimeter capacity, free cash flow expanded to $2.94 billion—or 16.6% of revenue—recovering from single-digit margins in the prior year. Management effectively balanced this organic investment with inorganic growth through a $7.5 billion acquisition offer for Silicon Labs, all while returning $6.48 billion to shareholders. Investors valued this execution at 31.8x earnings at the close of FY2025, with shares trading at $173.49.
Recent Developments (Q3 and Q4 2025)
Momentum persisted through Q3 2025, where revenue rose 14% year-over-year to $4.74 billion, though elevated manufacturing costs compressed gross margins to 57.4% from 59.6%. Leadership consolidation occurred alongside these results, with CEO Haviv Ilan succeeding Richard Templeton as Chairman effective December 31, 2025. Forward-looking guidance suggests improved capital efficiency, with capital expenditures projected to drop to a range of $2 billion to $3 billion in 2026, significantly below prior peak levels. Additionally, management anticipates lower effective tax rates and cash payments starting in 2026 stemming from the "One Big Beautiful Bill Act."
Optimists cite the projected moderation in spending and statutory tax relief as immediate catalysts for margin expansion. However, skeptics warn that valuation has stretched rapidly, with shares trading at 40.6x earnings as of February 5, 2026, implying high expectations for the integration of the pending Silicon Labs transaction expected to close in 1H 2027.
What to watch: Gross margin stabilization trends; regulatory approval progress for the Silicon Labs acquisition.
Rev
$17.68B
FY2025
NI
$5.00B
FY2025
EPS
$5.47
FY2025
OCF
$7.15B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
TEXAS INSTRUMENTS INC 8-K Report, Bylaw Amendment (Feb 6, 2026)
Texas Instruments Incorporated (TXN) announced an amendment to its By-Laws on February 3, 2026, approved by its Board of Directors. This amendment introduces a forum selection provision. The primary purpose is to designate specific courts as the exclusive venue for various types of legal disputes, aiming to streamline and centralize litigation related to the Company's corporate affairs and securities. For investors, this means that most state corporate law claims and shareholder derivative suits will now be exclusively heard in the Delaware Court of Chancery or the U.S. District Court for the District of Delaware. Furthermore, any claims arising under the Securities Act of 1933 will be exclusively handled by the federal district courts of the United States. While this move is intended to reduce litigation costs and unpredictability, investors should be aware of the potential impact on their ability to pursue legal remedies in their preferred jurisdictions.
TEXAS INSTRUMENTS INC 8-K Report, Regulation FD Disclosure (Feb 4, 2026)
Texas Instruments Inc. (TXN) has announced a significant strategic move through a definitive agreement to acquire Silicon Laboratories Inc. (Silicon Labs). This 8-K filing details the joint press release and an accompanying investor presentation that was made available during a webcast to discuss the transaction. The acquisition is expected to be a transformative event for Texas Instruments, likely expanding its product portfolio and market reach within the semiconductor industry. While the filing itself does not disclose the financial terms of the acquisition, it confirms that the parties have entered into a binding agreement and are proceeding with the necessary steps for closing. Investors should pay close attention to the upcoming webcast and the subsequent investor presentation for detailed information regarding the strategic rationale, financial implications, and expected synergies of this significant transaction. Further details regarding the proposed acquisition will be disclosed in regulatory filings by Silicon Labs, including a proxy statement for its stockholders.
TEXAS INSTRUMENTS INC 8-K Report, Financial Results (Jan 27, 2026)
Texas Instruments Inc. (TXN) has filed an 8-K report on January 27, 2026, to announce its fourth-quarter and full-year 2025 financial results. The primary focus of this filing is the accompanying news release, which details the company's financial performance and condition for the period ending December 31, 2025. Investors should pay close attention to the disclosed results as they will shape the near-term outlook for the company. The report highlights the use of non-GAAP financial measures, specifically free cash flow and related ratios, in addition to standard GAAP reporting. Texas Instruments emphasizes that these non-GAAP metrics are presented to offer a clearer understanding of the company's liquidity, its capacity to generate cash, and the funds available for shareholder returns. A reconciliation of these non-GAAP measures to their GAAP equivalents is provided within the news release, allowing for a comprehensive financial review.
TEXAS INSTRUMENTS INC 8-K Report, Financial Results (Oct 21, 2025)
Texas Instruments Inc. (TXN) filed an 8-K on October 21, 2025, to announce its third-quarter financial results for 2025. The filing primarily consists of a press release detailing the company's performance and financial condition. Investors should note that the company is referencing non-GAAP financial measures, specifically free cash flow and related ratios, alongside their GAAP equivalents. Texas Instruments emphasizes that these non-GAAP metrics offer additional insights into liquidity, cash generation, and potential returns to shareholders, and a reconciliation to GAAP measures is provided within the press release.
TEXAS INSTRUMENTS INC 8-K Report, Executive Changes (Oct 16, 2025)
Texas Instruments Incorporated (TXN) has announced a significant leadership transition, with Executive Chairman Richard K. Templeton set to retire on December 31, 2025. This marks the end of a long tenure for Mr. Templeton, who has been instrumental in guiding the company. The Board of Directors has acted swiftly to ensure a smooth succession, appointing current President and CEO, Haviv Ilan, to the role of Chairman, effective upon Mr. Templeton's retirement. This leadership change is a key event for investors to monitor. While Mr. Ilan will continue in his CEO capacity, his assumption of the Chairman role signals a consolidation of leadership and a clear path forward under his direction. Investors should assess the strategic implications of this transition, considering Mr. Ilan's vision for the company and his ability to continue TXN's growth trajectory and innovation in the semiconductor industry.
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