Texas Instruments
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Texas Instruments Incorporated (TI) is an American multinational semiconductor company headquartered in Dallas, Texas. It is one of the top 10 semiconductor companies worldwide based on sales volume.
From Wikipedia, CC BY-SA 4.0, revision of 31 Oct 2026.
What stands out
- Each $1 tied up in the business has earned about 51 cents a year after tax.Return on invested capital (ROIC); ROE for banks: 23.0% ROIC
Worth digging into
- Sales have grown about 4.1% a year for five years, so each $1 of sales in FY2020 is about $1.22 now.Revenue growth over 5–10 years: +4.1% a year
- Texas Instruments kept about 34 cents of operating profit from each $1 of sales in FY2025.Operating margin (operating income ÷ revenue): 34.1%
- For every $1 of reported profit over 5 years, about $0.54 turned up as spare cash.Free cash flow (operating cash flow − capex), and FCF ÷ net income: $2.6B
From filed figures and the weekly screener snapshot, 30 Oct 2026. Observations to check in the tabs below, not advice.
What has the price done?
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Press and drag across the chart to see the change between two points. Source: Yahoo Finance, delayed. Bars are daily and prices are adjusted for splits, not dividends. Past returns don't predict future returns.
Dividends
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How does it make money?
What it does is in the oven
We haven't typed up Texas Instruments's business and region split yet. Every figure comes from the company's own results, so this takes a little time.
See companies we've covered ›History and context
Texas Instruments Incorporated (TI) is an American multinational semiconductor company headquartered in Dallas, Texas. It is one of the top 10 semiconductor companies worldwide based on sales volume. The company's focus is on developing analog chips and embedded processors, which account for more than 80% of its revenue. TI also produces digital light processing (DLP) technology and education technology products including calculators, microcontrollers, and multi-core processors.
Texas Instruments emerged in 1951 from the reorganization of Geophysical Service Incorporated, a company founded in 1930 that manufactured equipment for the seismic industry and defense electronics. TI produced the world's first commercial silicon transistor in 1954, and the same year designed and manufactured the first transistor radio. Jack Kilby invented the integrated circuit in 1958 while working at TI's Central Research Labs. TI also invented the handheld calculator in 1967 and introduced the first single-chip microcontroller in 1970, combining all the elements of computing onto a single chip.
From Wikipedia's article Texas Instruments, the lead section as of the revision of 31 Oct 2026, retrieved 1 Nov 2026. Text under CC BY-SA 4.0, pronunciation guides removed. Wikipedia can be edited by anyone; the company's own filings are the primary source.
What it actually sells Soon
A product-by-product guide to Texas Instruments: what each one is, who buys it, and how much it brings in, in plain English and in the company's own terms. We're starting with the companies that are hardest to picture, like Broadcom.
Moat not rated yet
We haven't rated Texas Instruments's moat. A rating needs at least five years of returns against the cost of capital, plus evidence for each of the five lenses.
How we rate moats ›Is it a good business at a fair price?
What each method implies
Ranges, not targetsThe five questions, and the price
Six checks from the annual reports. A flag marks a reason to dig deeper, not a verdict.
- 1. Is it growing?Reason to dig deeper
+4.1% a year
Revenue growth over 5–10 years
Revenue $14.5B in FY2020 to $17.7B in FY2025; +3.1% a year over 10 years. It fell in 2 of the last 5 years.
Sales have grown about 4.1% a year for five years, so each $1 of sales in FY2020 is about $1.22 now.
What to look for Steady growth, not one lucky year.
Source: FY2020 10-K, filed 5 Feb 2021; FY2025 10-K, filed 6 Feb 2026.
- 2. Is it profitable?Reason to dig deeper
34.1%
Operating margin (operating income ÷ revenue)
FY2025 operating margin. 5-year average 42.1%, range 34.1% to 50.6%.
Texas Instruments kept about 34 cents of operating profit from each $1 of sales in FY2025.
What to look for Stable or rising. It's cleaner than net income, which one-off items and tax can distort.
Source: FY2025 10-K, filed 6 Feb 2026.
- 3. Is the profit real cash?Reason to dig deeper
$2.6B
Free cash flow (operating cash flow − capex), and FCF ÷ net income
FY2025 free cash flow: operating cash flow $7.2B less capex $4.5B. Over 5 years FCF was 54% of net income.
For every $1 of reported profit over 5 years, about $0.54 turned up as spare cash.
What to look for FCF positive and growing, and close to net income over time.
Source: FY2025 10-K, filed 6 Feb 2026.
- 4. Is it a good business?Within the guide
23.0% ROIC
Return on invested capital (ROIC); ROE for banks
FY2025 ROIC. 5-year average 50.7%; above 10% in 5 of 5 years. ROIC here is our calculation from the 10-K figures: operating income after tax (at the year's effective rate, or 21% where that rate is meaningless) over shareholders' equity plus borrowings less cash and short-term investments at the start of the year. Leases are left out.
Each $1 tied up in the business has earned about 51 cents a year after tax.
What to look for Clearly above the cost of capital (roughly 8–10%). Sustained 15%+ usually means a moat.
Source: FY2025 10-K, filed 6 Feb 2026.
- 5. Can it survive a bad year?Reason to dig deeper
3.5x FCF
Net debt ÷ EBITDA or ÷ FCF, plus interest cover
FY2025 year end: borrowings $14.0B, cash and short-term investments $4.9B, net debt $9.2B. Operating income covers interest 11.1x.
At last year's pace, Texas Instruments's spare cash would pay off its net debt in about 3.5 years.
What to look for Debt payable from about 3 years of FCF or less, interest covered many times.
Source: FY2025 10-K, filed 6 Feb 2026.
- 6. Is the price right?
0.9% FCF yield
FCF yield or EV/EBIT, and price against a cash-flow value
Market cap $274.7B. FCF yield 0.9% on FY2025 free cash flow. EV/EBIT 47.1x on FY2025 operating income.
At this price, each $100 of shares comes with about $0.95 of last year's spare cash.
What to look for Pay less than a cash-flow value estimate, with a margin of safety.
Source: Price $300.84, Yahoo Finance weekly snapshot, 30 Oct 2026; 913M shares, 10-Q 15 Jul 2026; FY2025 10-K, filed 6 Feb 2026.
US figures: each company's Form 10-K as tagged on SEC EDGAR, collected 19 Oct 2026. Free cash flow is operating cash flow less purchases of property and equipment. Borrowings exclude leases. For education only. Not financial advice.
Ten years of financials
FY2016 to FY2025, in US dollars.
Source: Texas Instruments, Form 10-K for each year as first filed, via SEC EDGAR XBRL. Latest: FY2025 10-K, filed 6 Feb 2026. Later restatements aren't applied.
How peers compare
ChipmakersChipmakers are compared on how fast demand is growing their revenue and how much of it survives the cycle as operating margin.
| Company | Revenue growth, 5y | Operating margin | P/E | EV/EBITDA |
|---|---|---|---|---|
| TXN | +4.1% a year | 34.1% | 55.2x | — |
| NVDA | +66.9% a year | 60.4% | 41.8x | 37.0x |
| AMD | +28.8% a year | 10.7% | 190.5x | — |
| AVGO | +21.7% a year | 39.9% | 68.4x | — |
| INTC | −7.5% a year | −4.2% | — | — |
| QCOM | +13.5% a year | 27.9% | 32.9x | 13.4x |
| MU | +36.9% a year | 74.6% | 11.9x | 8.9x |
- Peers' middle-half P/E
- 32.9x–68.4x (median 41.8x, 5 peers)
- Peers' middle-half EV/EBITDA
- 11.1x–25.2x (median 13.4x, 3 peers)
At the peers' middle-half P/E, Texas Instruments's earnings per share from the FY2025 10-K would put the share between $179 and $373. Those are the peer bars in the valuation chart above — one way to read the price, not a target.
Prices: weekly screener snapshot, 30 Oct 2026. Profits: each company's latest annual filing via SEC EDGAR, as filed. Peers are hand-picked for this industry. A multiple compares one year's profit with today's price; it says nothing about what either does next.
Not in Stock valuation yet
Stock valuation doesn't have Texas Instruments's figures yet. You can still type them in: pick "Value your own company" and fill in the inputs from the latest results.
Value your own company ›Who owns it, and what's the mood?
Tracked investors and insiders
Trades in Texas Instruments by the people we follow: Warren Buffett and Michael Burry (13F), Grab's officers (Form 4) and Nancy Pelosi (House reports). They show what happened, often weeks later, not what to copy.
| Who | Did | Size | When | Disclosed |
|---|---|---|---|---|
| Ro KhannaUS House member, CA-17 (dependent child's trade) | SoldShares | $15,001 – $50,000 | 11 Sep 2026 | 7 Oct 202626 days after the trade |
| Terry SmithFundsmith | TrimmedShares | −823,942 sharesabout $245,592,392 at quarter-end value | Q2 2026 | 14 Aug 202645 days after Q2 2026 ended |
Sources: SEC EDGAR 13F-HR and Form 4 filings, and the US House Clerk's Periodic Transaction Reports, checked 30 Oct 2026. 13F values are the quarter-end value, not the price paid. All tracked trades ›
- Largest shareholdersSoonThe biggest holders from 13F filings and the annual proxy statement.—
- Chief executive and board holdingsSoonShares held by the CEO and directors, from the proxy statement and Form 4s.—
- Short interestSoonHow many shares are sold short, from exchange short-interest reports.—
Crowd favourite or value trap?
Neither is a label we can put on a stock. These are signs worth looking into, each from a figure on this page.
Signs of a crowd-driven price
Meme stocks move on attention more than on results: big swings, a price far from cash-flow value, thin profits.
0 of 3 signs (1 without data)
- NoSwings at least twice as much as the marketBeta 1.40, 5 years of monthly returns
- NoUp more than 100%, or down more than 50%, in a year1-year price change +89.46%
- —Price more than 50% above the valuation sheet's middle valueNot in Stock valuation yet
- NoThin profits: operating margin under 5%, or a lossFY2025 operating margin 34.1%
Signs of a value trap
A value trap looks cheap because the business is shrinking or earning less than its capital costs.
0 of 4 signs
- NoLooks cheap: P/E under 12 or FCF yield over 8%P/E 55.2x, FCF yield 0.9%
- NoRevenue lower than five years agoRevenue +4.1% a year over 5 years
- NoReturns below the cost of capital5-year average ROIC 50.7% against 10.0%
- NoMore than 30% below its 52-week high−9.9% from the 52-week high
Prices, beta and 1-year change: Yahoo Finance weekly snapshot, 30 Oct 2026. Business figures: the five questions under Valuation and financials. A sign is a reason to dig deeper, not a verdict. For education only. Not financial advice.
Read it through a lens
Price data: Yahoo Finance, delayed. Company figures: each company's own filings, dated where they appear. A ticker on this site is not a recommendation. For education only. Not financial advice.