Texas Instruments IncorporatedTXN
NasdaqGS•Technology•Semiconductors
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers in the United States, China, the rest of Asia, Europe, the Middle East, Africa, Japan, and internationally. It operates through Analog and Embedded Processing segments. The Analog segment offers power products to manage power requirements across various voltage levels, including battery-management solutions, DC/DC switching regulators, AC/DC and isolated controllers and converters, power switches, linear regulators, voltage references, multiphase controllers and power stages, and lighting products. This segment also provides signal chain products that sense, condition, and measure real-world signals and convert them into data to be transferred or converted for further processing and control, such as amplifiers, data converters, interface products, motor drives, clocks, and logic and sensing products. The Embedded Processing segment offers microcontrollers, processors, wireless connectivity, and radar products; and applications processors for specific computing activity. It also provides DLP products primarily for use in projecting high-definition images; calculators; and application-specific integrated circuits. Its products are used in various markets, such as industrial, automotive, personal electronics, communications equipment, enterprise systems, calculators, and others. The company 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.
Texas Instruments Incorporated (TXN) reported trailing twelve months revenue of $18.44B as of March 2026, a 14.9% increase year-over-year. Quarterly revenue reached $4.83B, reflecting continued top-line momentum.
Texas Instruments Incorporated generated $5.37B in TTM net income, with quarterly EBITDA of $2.35B. The operating margin expanded from 32.5% to 37.5%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (37.5%) and net margin (32.0%) indicates moderate non-operating costs. Net margin has improved from 29.0% a year ago, signaling stronger bottom-line efficiency.
TXN trades at a P/E of 31.6x (a premium multiple) and a P/S of 9.2x. The price-to-book ratio of 10.1x indicates a significant premium over book value.
The company generated $844.00M in free cash flow over the trailing twelve months, a 408.0% increase year-over-year, indicating cash generation ability. The balance sheet shows $34.39B in total assets with $12.90B in long-term debt against $16.78B in stockholders equity for a debt-to-equity ratio of 0.8. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~34.7%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 30.2% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~35.2% — no sign of cost or pricing stress.
FCF consistently trails net income (avg 0.5x) — earnings may be inflated by non-cash items or aggressive accounting.
D/E ratio is 0.8 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation