TXN
TEXAS INSTRUMENTS INC
Next earnings Jul 20, 2026 (after close) · consensus $1.95 EPS, $5.30B rev
Last earnings +1.4% on 2026-04-22
$293.08
▲ +2.66%$293.08▲ +45.50%
over 1Y
L $151.57H $332.28
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+2.7%
1W-6.0%
1M-4.9%
3M+51.2%
YTD+67.0%
1Y+45.5%
Hold
Conviction
Horizon
Long (>12mo)
Street · 45 analysts
Hold
Elite analog franchise riding a real cyclical upturn, but a 59x P/E and a dividend that outruns free cash flow leave no margin of safety.
P/E (price / FY diluted EPS $5.45) 59.2 · current price / FY2025
The read
Middling fundamentals and a rich price (~54% above fair value) leave little margin of safety — a wait-and-see.
Texas Instruments is exactly the kind of business the market loves to overpay for, and right now it is overpaying. The franchise quality is undeniable: 57.0% gross margin, 34.1% operating margin, 30.7% ROE, and $7.15B of operating cash flow (+13.2%) thrown off by a portfolio the 10-K frames around four durable advantages — owned 300mm manufacturing, breadth of analog/embedded parts, channel reach, and product longevity. FY2025 also confirms the cyclical trough is behind it: revenue rebounded +13.0% to $17.7B off the $15.6B 2024 low. This is a high-quality compounder you can comfortably own through a cycle.
The problem is price versus where earnings actually are. At $322.86 (after a +6.95% pop today) the stock trades at 59.2x trailing EPS and 16.6x sales, yet net income of $5.00B is still 43% below the 2022 peak of $8.75B and below 2021's $7.77B — and it grew just 4.2%. Free cash flow was only $2.94B (16.6% of revenue), a ~1% FCF yield against a $293B market cap. At today's price the stock effectively discounts a full return to peak earnings; if the recovery merely normalizes rather than re-accelerates, the multiple has nowhere to go but down.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 19, 2026, 2:02 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $18.3B | $20.0B | $17.5B | $15.6B | $17.7B |
| Gross profit | $12.4B | $13.8B | $11.0B | $9.09B | $10.1B |
| Operating income | $8.96B | $10.1B | $7.33B | $5.46B | $6.02B |
| Net income | $7.77B | $8.75B | $6.51B | $4.80B | $5.00B |
| Diluted EPS | $8.26 | $9.41 | $7.07 | $5.20 | $5.45 |
| Net margin | 42.4% | 43.7% | 37.2% | 30.7% | 28.3% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$278B
EV / EBITDA—
EV / Sales15.7
EV / FCF106.6
P / FCF102.5
PEG (trailing)12.78
Earnings yield1.9%
FCF yield1.0%
Quality & risk
ROIC (est.)15.7%
Free cash flow$2.60B
Total debt$14.0B
Net cash-$10.8B
Altman Z-Score12.31 safe
Piotroski F-Score7/9
Capital returns
Buyback yield0.6%
Dividend yield (est.)1.9%
Shareholder yield2.4%
Shares Δ YoY-0.3%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Officer / director change2026-06-02
Officer/director change (Item 5.02); leadership transition, no stated financial impact
- 10-Q Quarterly report2026-04-24
Q1 2026 10-Q; demand recovery sustained, margins aided by 300mm fab loading
- 8-K Earnings results2026-04-22
Q1 2026 results released; revenue recovery off the 2024 cyclical trough continues
- 8-K Shareholder vote2026-04-17
Annual meeting vote results filed; directors elected, routine governance items
- 8-K Officer / director change2026-03-25
Officer/director change announced (Item 5.02); leadership transition
- DEF 14A Proxy statement2026-03-04
Annual proxy; exec comp and board slate up for shareholder vote
- 8-K Charter / bylaws change2026-02-06
FY2025 10-K: revenue $17.7B (+13%), EPS $5.45; cyclical recovery, capex easing
- 10-K Annual report2026-02-06
FY2025 10-K: revenue $17.7B (+13%), EPS $5.45; cyclical recovery, capex easing
- 8-K Reg FD disclosure2026-02-04
Reg FD capital-management update; reaffirms FCF/share focus & shareholder returns
Recent filings
all on EDGAR ↗4Period ending 2026-06-192026-06-22open ↗4Period ending 2026-06-192026-06-22open ↗8-KPeriod ending 2026-05-272026-06-02open ↗SDFiling2026-06-01open ↗4Period ending 2026-05-282026-05-29open ↗144Filing2026-05-28open ↗4Period ending 2026-05-142026-05-15open ↗4Period ending 2026-05-142026-05-15open ↗4Period ending 2026-05-132026-05-14open ↗144Filing2026-05-14open ↗144Filing2026-05-13open ↗4Period ending 2026-05-112026-05-12open ↗
Frequently asked
- Is TEXAS INSTRUMENTS INC (TXN) a buy?
- TXN currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Elite analog franchise riding a real cyclical upturn, but a 59x P/E and a dividend that outruns free cash flow leave no margin of safety.
- What is TXN's fair value?
- A Modified-Graham model based on TXN's SEC fundamentals estimates a fair value of about $134.98. It is an estimate from reported earnings, not a price target.
- Is TXN overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, TXN currently appears overvalued relative to its SEC-grounded earnings power.
- What is TEXAS INSTRUMENTS INC's quality score?
- TXN scores 70.00502872234378/100 (grade B) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000097476, latest 10-Q filed 2026-04-24) · EODHD · Proprietary analysis · as of 6/19/2026, 6:02:35 PM.
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