Company file · TXN
Texas Instruments
Texas Instruments' revenue grew in 2025 after falling in 2024, led by analog chips
Revenue rose 13.0% to $17.7B, and Analog, its largest segment, grew 15.2%. Net income rose 4.2% to $5.0B.
Key facts
In fiscal 2025, which ended Dec 31, 2025, Texas Instruments (Nasdaq: TXN) took in $17.7B of revenue (up 13.0% on fiscal 2024); net income was $5.0B (up 4.2%). The most recent quarter, ended Sep 30, 2026, brought revenue of $6.1B, up 27.7% year over year, with net income of $2.4B. Analog was the biggest single line by segment: 79% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 6, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Oct 23, 2026).
Source: 10-K FY2025, filed Feb 6, 2026
Source: 10-Q filed Apr 24, 2026 · 10-Q filed Jul 24, 2026 · 10-Q filed Oct 23, 2026
How it makes money
By segment, FY2025
Source: 10-K FY2025, XBRL breakdown
Analog was 79% of 2025 revenue, up from 74% in 2023. Embedded Processing was 15% and Other 6%.
Source: 10-K FY2025
What changed last quarter
Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 2026Q3 2025
Company
Source: Texas Instruments 10-Q for the quarter ended Sep 30, 2026, filed Oct 23, 2026
By segment
Source: Texas Instruments 10-Q for the quarter ended Sep 30, 2026, filed Oct 23, 2026
The bull case and the bear case
The bull case
- Revenue rose 13.0% in 2025 to $17.7B, and Analog revenue grew 15.2% to $14.0B. 10-K, FY2025
- Revenue in the quarter ended Sep 30, 2026 was $6.1B, up 27.7% on a year earlier, and net income rose 77.8% to $2.4B. 10-Q, quarter ended Sep 30, 2026
- Operating cash flow rose 13.2% in 2025 to $7.2B. 10-K, FY2025
The bear case
- Net income grew 4.2% in 2025, much slower than revenue. 10-K, FY2025
- Embedded Processing revenue was $2.7B in 2025, down from $3.4B in 2023. 10-K, FY2025
- Total debt was $14.0B at the end of 2025, up 3.3% on a year earlier. 10-K, FY2025
- The 10-K lists demand cycles in the chip industry, competition, trade restrictions and the cost of its factory expansion among its risks. 10-K, Item 1A
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Texas Instruments designs and makes analog and embedded processing chips, sold to thousands of customers in industrial, automotive, personal electronics and other markets.
Analog chips manage power and convert real-world signals such as sound, temperature and pressure into electronic ones. Embedded processors are the small computers inside products such as cars, factory equipment and appliances. A small Other segment includes calculators and some custom chips.
Unlike many chip companies, it makes most of its own chips in its own factories, including newer 300-millimeter wafer plants. Its fiscal year is the calendar year.
Source: 10-K, Item 1 Business
Main risks the company lists
Our plain-English paraphrase of the risk factors in Texas Instruments's latest 10-K. Read the original for the full list.
- Demand cyclesChip demand rises and falls with the economy and customer inventories.
- CompetitionIt competes with many chipmakers on price, product range and supply.
- Trade and ChinaTariffs, export controls and trade disputes can affect sales and costs.
- ManufacturingIt runs its own factories, so heavy investment and underused capacity weigh on results.
- Legal and regulatoryChanges in tax, trade and other laws can raise costs.
- FinancingIt has borrowed to fund its factory buildout and shareholder returns.
Source: 10-K, Item 1A Risk Factors (the full list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $17.5B | $15.6B | $17.7B |
| Net income | $6.5B | $4.8B | $5.0B |
| Operating cash flow | $6.4B | $6.3B | $7.2B |
| Cash & equivalents (year end) | $3.0B | $3.2B | $3.2B |
| Total debt (year end) | $11.2B | $13.6B | $14.0B |
| Diluted shares | 916M | 919M | 913M |
- Revenue: Sales of analog and embedded processing chips, plus other products such as calculators.
- Net income: Profit after all costs and taxes.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Total debt: Current and long-term debt, at carrying value.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
About these numbers
- Segment figures are revenue as reported for each segment, which add up to total revenue.
Recent filings
Latest filings
- Oct 214:04 PM ET
8-K
Texas Instruments files an 8-K on quarterly results
Texas Instruments filed a Form 8-K on Oct 21, 2026 at 4:04 PM ET under Item 2.02 (Results of Operations and Financial Condition).
Common questions about Texas Instruments
How does Texas Instruments make money?
In fiscal 2025, revenue totaled $17.7B. Analog was 79% of 2025 revenue, up from 74% in 2023. Embedded Processing was 15% and Other 6%. Source: 10-K for fiscal 2025, filed Feb 6, 2026.
What was Texas Instruments's revenue in fiscal 2025?
Revenue came to $17.7B in the year ended Dec 31, 2025. Going back two years, it was $17.5B in fiscal 2023 and $15.6B in fiscal 2024, so the latest year was up 13.0%. Source: 10-K for fiscal 2025, filed Feb 6, 2026.
Is Texas Instruments profitable?
Yes, by US accounting rules (GAAP): net income was $5.0B in fiscal 2025, up 4.2% from $4.8B a year earlier. For the quarter ended Sep 30, 2026, net income was $2.4B. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 6, 2026.
What did Texas Instruments report in its latest quarterly filing?
The 10-Q for the quarter ended Sep 30, 2026 shows revenue of $6.1B, against $4.7B in the same quarter a year before (up 27.7%), and net income of $2.4B, against $1.4B (up 77.8%). Source: 10-Q for the quarter ended Sep 30, 2026, filed Oct 23, 2026.
How much cash and debt does Texas Instruments have?
On Sep 30, 2026, cash and cash equivalents stood at $4.2B and total debt at $13.6B. Total debt here is current and long-term debt, at carrying value. Source: 10-Q filed Oct 23, 2026.
What are the main risks Texas Instruments lists?
Item 1A of the fiscal 2025 10-K (filed Feb 6, 2026) sets out the risks. Grouped, they fall into 6 areas: Demand cycles; competition; trade and China; manufacturing; legal and regulatory; financing. To start with the first: Chip demand rises and falls with the economy and customer inventories. Source: 10-K, Item 1A Risk Factors.
Where do these Texas Instruments numbers come from?
Two filings Texas Instruments made with the SEC: its fiscal 2025 10-K, filed Feb 6, 2026, and its 10-Q for the quarter ended Sep 30, 2026, filed Oct 23, 2026. The figures are taken from the XBRL data the SEC publishes, and every one links back to its source. Methodology explains how fiscal years and missing numbers are handled.
Disclosures
- Editor holdings in TXN
- The editor holds no position in Texas Instruments (TXN). As of Oct 25, 2026.
- Trading rule
- The editor does not buy or sell TXN from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Oct 25, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold TXN, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| Texas InstrumentsTXN | FY2025 | $17.7B | +13.0% | $5.0B |
| BroadcomAVGO | FY2025 | $63.9B | +23.9% | $23.1B |
| IntelINTC | FY2025 | $52.9B | −0.5% | −$267M |
| AMD | FY2025 | $34.6B | +34.3% | $4.3B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn lists the first explainer topics. Methodology & Disclosures covers where every number comes from.