TXN financial statements

The full income statement, balance sheet, and cash-flow statement for Texas Instruments Incorporated (TXN), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 913.0M2024-09 912.2M2024-12 910.3M2025-03 908.5M2025-06 909.1M2025-09 908.6M2025-12 907.6M2026-03 910.1M2026-06 913.2M+0.0% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	17.7B YoY+13.0%	15.6B YoY-10.7%	17.5B YoY-12.5%	20.0B YoY+9.2%	18.3B YoY+26.9%
	10.1B YoY+10.9%	9.09B YoY-17.5%	11.0B YoY-20.0%	13.8B YoY+11.3%	12.4B YoY+33.5%
Cost of revenue	7.60B YoY+16.1%	6.55B YoY+0.7%	6.50B YoY+3.9%	6.26B YoY+4.8%	5.97B YoY+14.9%
Research & development	2.08B YoY+6.3%	1.96B YoY+5.2%	1.86B YoY+11.6%	1.67B YoY+7.5%	1.55B YoY+1.6%
Selling, general & administrative	1.86B YoY+3.7%	1.79B YoY-1.7%	1.82B YoY+7.1%	1.70B YoY+2.3%	1.67B YoY+2.6%
Restructuring	—	—	—	—	54.0M YoY+125.0%
Amortization of intangibles	—	—	0.00	0.00 YoY-100.0%	142M YoY-28.3%
Operating income	6.02B YoY+10.2%	5.46B YoY-25.5%	7.33B YoY-27.7%	10.1B YoY+13.2%	8.96B YoY+52.0%
Interest expense	543M YoY+6.9%	508M YoY+43.9%	353M YoY+65.0%	214M YoY+16.3%	184M YoY-3.2%
Other non-operating income	230M YoY-53.6%	496M YoY+12.7%	440M YoY+315.1%	106M YoY-25.9%	143M YoY-54.3%
Pre-tax income	5.71B YoY+4.7%	5.45B YoY-26.5%	7.42B YoY-26.1%	10.0B YoY+12.5%	8.92B YoY+48.2%
Income tax	709M YoY+8.4%	654M YoY-28.0%	908M YoY-29.2%	1.28B YoY+11.6%	1.15B YoY+172.5%
	5.00B YoY+4.2%	4.80B YoY-26.3%	6.51B YoY-25.6%	8.75B YoY+12.6%	7.77B YoY+38.9%
Net income to common	4.97B YoY+4.1%	4.78B YoY-26.3%	6.48B YoY-25.6%	8.71B YoY+12.6%	7.74B YoY+38.9%
	$5.45 YoY+4.8%	$5.20 YoY-26.4%	$7.07 YoY-24.9%	$9.41 YoY+13.9%	$8.26 YoY+38.4%
EPS (basic)	$5.47 YoY+4.4%	$5.24 YoY-26.5%	$7.13 YoY-25.0%	$9.51 YoY+13.5%	$8.38 YoY+38.5%
	909M YoY-0.3%	912M YoY+0.4%	908M YoY-0.9%	916M YoY-0.8%	923M YoY+0.2%
	913M YoY-0.7%	919M YoY+0.3%	916M YoY-1.1%	926M YoY-1.1%	936M YoY+0.3%
Dividends per share	$5.50 YoY+4.6%	$5.26 YoY+4.8%	$5.02 YoY+7.0%	$4.69 YoY+11.4%	$4.21 YoY+13.2%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	13.8B YoY-8.5%	15.0B YoY-0.6%	15.1B YoY+7.9%	14.0B YoY+2.5%	13.7B YoY+33.7%
Cash & equivalents	3.23B YoY+0.8%	3.20B YoY+8.0%	2.96B YoY-2.8%	3.05B YoY-34.1%	4.63B YoY+49.1%
Short-term investments	1.66B YoY-62.2%	4.38B YoY-21.9%	5.61B YoY-6.7%	6.02B YoY+17.8%	5.11B YoY+47.6%
Accounts receivable	1.96B YoY+14.2%	1.72B YoY-3.8%	1.79B YoY-5.7%	1.90B YoY+11.4%	1.70B YoY+20.3%
Inventory	4.80B YoY+6.1%	4.53B YoY+13.2%	4.00B YoY+45.0%	2.76B YoY+44.3%	1.91B YoY-2.3%
Prepaid expenses	2.10B YoY+75.2%	1.20B YoY+57.7%	761M YoY+152.0%	302M YoY-9.9%	335M YoY+10.9%
	34.6B YoY-2.6%	35.5B YoY+9.8%	32.3B YoY+18.9%	27.2B YoY+10.3%	24.7B YoY+27.5%
Property, plant & equipment	12.3B YoY+8.6%	11.3B YoY+13.5%	10.00B YoY+45.4%	6.88B YoY+33.7%	5.14B YoY+57.3%
Operating lease right-of-use	729M YoY-7.3%	786M YoY+35.8%	579M YoY+34.3%	431M YoY-7.3%	465M YoY+45.8%
Goodwill	4.33B YoY-0.7%	4.36B YoY+0.0%	4.36B YoY+0.0%	4.36B YoY+0.0%	4.36B YoY+0.0%
Intangible assets	238M	—	—	—	—
Long-term investments	16.0M YoY-30.4%	23.0M YoY-32.4%	34.0M YoY+0.0%	34.0M YoY-45.2%	62.0M YoY+26.5%
Deferred tax assets	967M YoY+3.3%	936M YoY+23.6%	757M YoY+60.0%	473M YoY+79.8%	263M YoY-23.3%
Other non-current assets	2.66B YoY-20.7%	3.35B YoY+95.6%	1.71B YoY+50.8%	1.14B YoY+51.7%	748M YoY-2.9%
	3.16B YoY-13.3%	3.64B YoY+9.7%	3.32B YoY+11.2%	2.98B YoY+16.2%	2.57B YoY+7.5%
Accounts payable	756M YoY-7.8%	820M YoY+2.2%	802M YoY-5.8%	851M YoY+49.0%	571M YoY+37.6%
Short-term & current debt	500M YoY-33.3%	750M YoY+25.2%	599M YoY+19.8%	500M YoY+0.0%	500M YoY-9.1%
Current lease liability	119M YoY+0.8%	118M YoY+34.1%	88.0M YoY+17.3%	75.0M YoY-8.5%	82.0M YoY+13.9%
Other current liabilities	1.01B YoY-6.3%	1.07B YoY+18.0%	911M YoY+41.0%	646M YoY+7.3%	602M YoY+14.9%
	18.3B YoY-1.6%	18.6B YoY+20.4%	15.5B YoY+22.3%	12.6B YoY+11.3%	11.3B YoY+11.6%
Long-term debt	13.5B YoY+5.5%	12.8B YoY+20.9%	10.6B YoY+29.0%	8.23B YoY+13.7%	7.24B YoY+15.9%
Non-current lease liability	612M YoY-7.7%	663M YoY+38.7%	478M YoY+39.0%	344M YoY-10.2%	383M YoY+53.8%
Operating lease liability (total)	731M YoY-6.4%	781M YoY+38.0%	566M YoY+35.1%	419M YoY-9.9%	465M YoY+44.9%
Deferred tax liabilities	66.0M YoY+24.5%	53.0M YoY-15.9%	63.0M YoY-4.5%	66.0M YoY-24.1%	87.0M YoY-3.3%
Other non-current liabilities	1.42B YoY-27.6%	1.95B YoY+46.3%	1.34B YoY+9.0%	1.23B YoY-10.3%	1.37B YoY+4.8%
	16.3B YoY-3.7%	16.9B YoY+0.0%	16.9B YoY+15.9%	14.6B YoY+9.3%	13.3B YoY+45.1%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	1.74B YoY+0.0%	1.74B YoY+0.0%	1.74B YoY+0.0%	1.74B YoY+0.0%	1.74B YoY+0.0%
Additional paid-in capital	4.51B YoY+14.6%	3.94B YoY+17.0%	3.36B YoY+13.9%	2.95B YoY+12.2%	2.63B YoY+12.7%
Retained earnings	52.2B YoY-0.0%	52.3B YoY-0.0%	52.3B YoY+3.8%	50.4B YoY+9.7%	45.9B YoY+9.2%
Treasury stock	42.1B YoY+3.0%	40.9B YoY+1.5%	40.3B YoY+0.2%	40.2B YoY+9.3%	36.8B YoY+0.6%
Accumulated other comprehensive income	-85.0M YoY+39.3%	-140M YoY+31.7%	-205M YoY+19.3%	-254M YoY-61.8%	-157M YoY+56.4%
Total liabilities & equity	34.6B YoY-2.6%	35.5B YoY+9.8%	32.3B YoY+18.9%	27.2B YoY+10.3%	24.7B YoY+27.5%
	1.74B YoY+0.0%	1.74B YoY+0.0%	1.74B YoY+0.0%	1.74B YoY+0.0%	1.74B YoY+0.0%
	908M YoY-0.3%	910M YoY+0.1%	909M YoY+0.3%	906M YoY-1.9%	924M YoY+0.4%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	7.15B YoY+13.2%	6.32B YoY-1.6%	6.42B YoY-26.4%	8.72B YoY-0.4%	8.76B YoY+42.6%
Depreciation & amortization	1.92B YoY+27.2%	1.51B YoY+28.3%	1.18B YoY+27.0%	925M YoY+3.1%	897M YoY-3.7%
Intangible amortization	—	—	0.00	0.00 YoY-100.0%	142M YoY-28.3%
Share-based compensation	419M YoY+8.3%	387M YoY+6.9%	362M YoY+25.3%	289M YoY+25.7%	230M YoY+2.7%
Deferred income taxes	-19.0M YoY+91.0%	-210M YoY+29.8%	-299M YoY-56.5%	-191M YoY-1373.3%	15.0M YoY+110.9%
Change in receivables	244M YoY+458.8%	-68.0M YoY+37.0%	-108M YoY-155.7%	194M YoY-32.4%	287M YoY-15.6%
Change in inventory	277M YoY-47.5%	528M YoY-57.5%	1.24B YoY+46.6%	847M YoY+1982.2%	-45.0M YoY+2.2%
	-1.44B YoY+55.1%	-3.20B YoY+26.6%	-4.36B YoY-21.7%	-3.58B YoY+12.5%	-4.09B YoY-344.1%
Capital expenditure	4.55B YoY-5.6%	4.82B YoY-4.9%	5.07B YoY+81.3%	2.80B YoY+13.6%	2.46B YoY+279.4%
Free cash flow	2.60B YoY+73.8%	1.50B YoY+11.0%	1.35B YoY-77.2%	5.92B YoY-5.9%	6.29B YoY+14.6%
Acquisitions	0.00	0.00	0.00	0.00	0.00
Other investing activities	9.00M YoY-81.3%	48.0M YoY+300.0%	-24.0M YoY+35.1%	-37.0M YoY-159.7%	62.0M YoY+72.2%
	-5.69B YoY-97.5%	-2.88B YoY-34.3%	-2.14B YoY+68.1%	-6.72B YoY-114.2%	-3.14B YoY+31.0%
Long-term debt issued	1.20B YoY-59.8%	2.98B YoY-0.7%	3.00B YoY+100.8%	1.49B YoY-0.1%	1.50B YoY-0.2%
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	1.48B YoY+59.0%	929M YoY+217.1%	293M YoY-91.9%	3.62B YoY+586.0%	527M YoY-79.4%
Dividends paid	5.00B YoY+4.3%	4.79B YoY+5.2%	4.56B YoY+6.1%	4.30B YoY+10.6%	3.89B YoY+13.4%
Other financing activities	-62.0M YoY-17.0%	-53.0M YoY+7.0%	-57.0M YoY-39.0%	-41.0M YoY+10.9%	-46.0M YoY-27.8%
Net change in cash	25.0M YoY-89.4%	236M YoY+374.4%	-86.0M YoY+94.6%	-1.58B YoY-203.7%	1.52B YoY+127.5%
Interest paid	542M YoY+14.6%	473M YoY+47.4%	321M YoY+62.1%	198M YoY+9.4%	181M YoY-0.5%
Income taxes paid	296M YoY-34.4%	451M YoY-66.6%	1.35B YoY-8.8%	1.48B YoY+23.3%	1.20B YoY+66.7%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	157B YoY-7.8%	171B YoY+10.3%	155B YoY+3.2%	150B YoY-13.9%	174B YoY+15.2%
P/E	31.5× YoY-11.5%	35.6× YoY+63.2%	21.8× YoY+29.8%	16.8× YoY-25.0%	22.4× YoY-17.0%
P/S	8.9× YoY-18.4%	10.9× YoY+27.7%	8.5× YoY+15.1%	7.4× YoY-21.7%	9.5× YoY-9.2%
P/B	9.7× YoY-4.2%	10.1× YoY+8.5%	9.3× YoY-9.9%	10.3× YoY-20.8%	13.1× YoY-20.6%
P/FCF	60.5× YoY-46.9%	113.9× YoY+21.3%	93.9× YoY+271.1%	25.3× YoY-8.5%	27.7× YoY+0.5%
	3.2% YoY+13.0%	2.8% YoY-38.7%	4.6% YoY-22.9%	6.0% YoY+33.4%	4.5% YoY+20.5%
	1.7% YoY+88.4%	0.88% YoY-17.6%	1.1% YoY-73.1%	4.0% YoY+9.2%	3.6% YoY-0.5%
	3.2% YoY+13.0%	2.8% YoY-4.7%	2.9% YoY+3.7%	2.8% YoY+27.1%	2.2% YoY-1.4%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: TXN's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all TXN filings on SEC EDGAR → Not investment advice.