TEXAS INSTRUMENTS (TXN) Company Report

TI expects a double-digit recovery in 2025, targeting ~13% growth at the midpoint vs. 2024, with all major end markets recovering and new revenue peaks in data center and automotive.
By end-Q3 2025, TI reached its desired inventory levels and now has capacity ahead of demand, enabling a shift in focus toward free cash flow generation.
For fiscal 2026, TI projects CapEx of $2–3 billion assuming revenues of $20–22 billion, with spending potentially falling to ~4% of revenue by 2027 as capacity enters “maintenance mode”.
Data center revenue, at $1.2 billion in 2025 and growing >50%, will be reported as a standalone market alongside industrial, automotive, personal electronics, and comms starting fiscal 2026.
China remains a key growth driver at ~20% of TI’s business, with year-to-date growth of ~30% in 2025 supported by a diversified global manufacturing footprint and local capacity.

Dec 2, 2025, 6:35 PM

Transcript

Texas Instruments details 2025 market recovery, data center reporting and capital plan

TXN

Guidance Update

New Projects/Investments

Share Buyback

TI entered a double-digit recovery in 2025 with revenues growing around 13% at midpoint, led by industrial and automotive end markets, though overall demand remains below long-term trendline.
TI will begin reporting data center as a standalone segment in fiscal 2026; this market was about $1.2 billion in 2025 and is growing over 50% annually, with potential to become up to 20% of TI’s TAM over the long term.
After a $5 billion CapEx peak in 2025, TI expects to reduce spending to $2–3 billion in 2026 as capacity and inventory targets are met, enabling a significant lift in free cash flow.
TI maintains 20% revenue exposure in China, supplying local demand through its non-U.S. and China-based fabs to ensure flexibility amid geopolitical tensions.
With CapEx declining and free cash flow per share poised to reach record levels, TI plans to sustain aggressive share repurchases, historically returning over 100% of annual free cash flow.

Dec 2, 2025, 6:35 PM

Transcript

Texas Instruments at UBS’s 2025 Global Technology and AI Conference

TXN

Guidance Update

New Projects/Investments

TI expects a double-digit recovery in 2025, with revenue growth at approximately 13% midpoint after near-zero growth in Q4 2024.
Industrial & automotive end markets (≈70% of revenue) are recovering: industrial revenues are up double-digits but remain below 2022 highs, while automotive has returned to prior peaks with single-digit growth driven by increasing content per vehicle.
Data center revenue reached $1.2 billion, growing at >50%, and will be reported as a standalone market segment starting in FY 2026.
Having completed a six-year analog capacity and inventory build-up, TI guides 2026 CapEx of $2–3 billion, aiming to convert excess capacity into record free cash flow (targeting $8–12 billion) and opportunistic buybacks.
China remains a growth opportunity: TI can serve its ~20% market share from non-U.S. fabs and is internalizing backend test capacity to 80% by year-end, enhancing supply dependability amid geopolitical tensions.

Dec 2, 2025, 6:35 PM

Transcript

Texas Instruments targeted in China anti-dumping probe

TXN

Legal Proceedings

China’s Ministry of Commerce has issued detailed questionnaires to US analog IC producers, including Texas Instruments, requiring responses within 37 days.
The probe covers alleged dumping from Jan 1 to Dec 31, 2024, with an injury assessment period from Jan 1, 2022 to Dec 31, 2024, and may conclude within 12–18 months.
It demands transaction-level data on sales, costs, profits, logistics, and customer details in both Chinese and home markets.
The investigation is viewed as a retaliatory measure amid US export restrictions on advanced AI and graphics hardware, highlighting increased regulatory scrutiny in the semiconductor sector.

Oct 22, 2025, 4:44 AM

Bloomberg

Texas Instruments posts Q3 beat, issues softer Q4 guidance

TXN

Earnings

Guidance Update

Texas Instruments reported Q3 revenue of $4.74 billion, up 14.2% year-over-year, and GAAP EPS of $1.48.
For Q4, the company guided revenue of $4.22 billion to $4.58 billion (midpoint $4.4 billion) and EPS of $1.13 to $1.39 (midpoint $1.26), missing analyst forecasts.
Operating margin declined to 35.1% (from 37.4%), while free-cash-flow margin improved to 22.5% (from 10%).
Shares fell over 7% in after-hours trading to about $167.70 on the softer outlook.

Oct 21, 2025, 9:18 PM

Bloomberg

Texas Instruments reports Q3 2025 results

TXN

Earnings

Guidance Update

Board Change

Revenue of $4.7 billion, up 7% sequentially and 14% year-over-year; Analog (+16%) and Embedded Processing (+9%) both grew sequentially and annually.
Gross margin 57%, gross profit $2.7 billion; operating profit $1.7 billion (35% of revenue); net income $1.4 billion, EPS $1.48 (includes $0.10 restructuring).
Free cash flow on a trailing-twelve-month basis of $2.4 billion; returned $6.6 billion to shareholders over 12 months, including a 22nd consecutive dividend increase; cash and short-term investments $5.2 billion, total debt $14 billion.
Q4 guidance: revenue $4.22 billion–$4.58 billion, EPS $1.13–$1.39, assuming a ~13% effective tax rate and moderated wafer loadings to manage inventory levels.
Haviv Vollon elected Chairman of the Board effective January 2026, succeeding Rich Templeton.

Oct 21, 2025, 8:30 PM

Transcript

Texas Instruments reports Q3 2025 earnings

TXN

Earnings

Board Change

Guidance Update

Q3 revenue was $4.7 billion, up 14% YoY and 7% QoQ; Analog grew 16% YoY, Embedded Processing 9% YoY, and Other 11% YoY, with Industrial up 25% YoY and Automotive up ~10% QoQ.
Gross profit totaled $2.7 billion (57% margin, –50 bps QoQ); operating profit was $1.7 billion (35% margin, +7% YoY), and net income was $1.4 billion or $1.48 EPS, including a $0.10 charge for restructuring and fab closures.
Q4 guidance calls for revenue of $4.22–4.58 billion, EPS of $1.13–1.39, and an effective tax rate of ~13%.
In Q3, operating cash flow was $2.2 billion, capex was $1.2 billion, free cash flow on a TTM basis was $2.4 billion, dividends rose 4% (22nd consecutive year), and $119 million of stock was repurchased, returning $6.6 billion to shareholders over 12 months.
Haviv Ilan will become Chairman of the Board in January 2026, succeeding Richard Templeton after his 45-year career at TI.

Oct 21, 2025, 8:30 PM

Transcript

Texas Instruments reports Q3 2025 results

TXN

Earnings

Dividends

Share Buyback

Texas Instruments reported third-quarter revenue of $4.74 billion (up 14% YoY), net income of $1.36 billion, and EPS of $1.48.
Trailing 12-month cash flow from operations was $6.9 billion, with free cash flow of $2.4 billion.
Over the past 12 months, TI returned $6.6 billion to shareholders, comprising $4.9 billion in dividends and $1.6 billion in share repurchases.
TI’s Q4 2025 outlook projects revenue of $4.22 billion to $4.58 billion and EPS of $1.13 to $1.39.

Oct 21, 2025, 8:05 PM

8-K

Texas Instruments reports Q3 2025 results

TXN

Earnings

Guidance Update

Share Buyback

Texas Instruments reported third quarter revenue of $4.74 billion, net income of $1.36 billion and EPS of $1.48, with revenue up 7% sequentially and 14% year-over-year.
Trailing 12-month cash flow from operations of $6.9 billion and free cash flow of $2.4 billion.
During the past 12 months, the company invested $3.9 billion in R&D and SG&A, $4.8 billion in capital expenditures and returned $6.6 billion to shareholders.
Fourth quarter 2025 outlook: revenue of $4.22 billion to $4.58 billion and EPS of $1.13 to $1.39.

Oct 21, 2025, 8:01 PM

Press Release

Texas Instruments raises quarterly dividend by 4%

TXN

Dividends

TI plans to raise its quarterly cash dividend 4% to $1.42 per share (or $5.68 annualized), payable November 12, 2025, to shareholders of record October 31, 2025, pending board declaration in October.
This increase marks 22 consecutive years of dividend hikes, underscoring TI’s long-term commitment to returning free cash flow to owners.
The dividend raise aligns with TI’s objective of providing a sustainable and growing dividend over time.

Sep 18, 2025, 8:05 PM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for TEXAS INSTRUMENTS.

Q3 2025

Oct 21, 2025

→

Q2 2025

Jul 22, 2025

→

View All Transcripts

Ask Fintool AI Agent

Get instant answers from SEC filings, earnings calls & more

What did Haviv Ilan say about margins?What are TEXAS INSTRUMENTS's strategic priorities?How is TEXAS INSTRUMENTS positioned vs competitors?How did TEXAS INSTRUMENTS do last quarter?

TEXAS INSTRUMENTS (TXN)

Analyst Earnings Quarterly Reports

Q3 2025

Q2 2025

Q1 2025

Q4 2024

Executives

Haviv Ilan

Amichai Ron

Hagop Kozanian

Katie Kane

Rafael Lizardi

Board Members

Carrie Cox

Curtis Farmer

Janet Clark

Jean Hobby

Mark Blinn

Martin Craighead

Pamela Patsley

Reginald DesRoches

Robert Sanchez

Ronald Kirk

Todd Bluedorn

Analyst Coverage

Ross Seymore

Stacy Rasgon

Joseph Moore

Timothy Arcuri

Christopher Caso

Christopher Danely

Thomas O’Malley

Vivek Arya

William Stein

Blaine Curtis

Christopher Muse

Harlan Sur

James Snyder

Joshua Buchalter

Tore Svanberg

Torres Vanberg

Chris Caso

CJ Muse

Jim Schneider

Toshiya Hari

Latest news

Earnings Transcripts

Q3 2025

Q2 2025

Ask Fintool AI Agent