TXN FY 2020 Earnings Report — Texas Instruments Incorporated Revenue & Financial Results | Market Cap Arena

Texas Instruments IncorporatedTXN

FY 2020 Earnings

Reported February 5, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$14.5B	—	$14.4B	—	0.5%
Op. Income	$5.9B	—	$5.7B	—	3.0%
Gross Margin	64.1%	—	63.7%	—	0.4pp
Net Margin	38.7%	—	34.9%	—	3.8pp
EPS (Diluted)	$5.97	—	$5.24	—	13.9%
Free Cash Flow	$5.5B	—	$5.8B	—	-5.4%

Revenue Flow

Item	Amount
REVENUE	$14.5B
Cost of Revenue	$5.2B
GROSS PROFIT	$9.3B
R&D Expenses	$1.5B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.6B
Other Expenses	$222M
Operating Expenses	$3.4B
Cost & Expenses	$8.6B
OPERATING INCOME	$5.9B
Interest Income	$0
Interest Expense	$190M
Other Income/Expenses	$123M
INCOME BEFORE TAX	$6.0B
Income Tax Expense	$422M
Net Income from Continuing Ops	$5.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.6B
D&A	$992M
EBIT	$6.2B
EBITDA	$7.2B
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$14.5B
Cost of Revenue	$5.2B
GROSS PROFIT	$9.3B
R&D Expenses	$1.5B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.6B
Other Expenses	$222M
Operating Expenses	$3.4B
Cost & Expenses	$8.6B
OPERATING INCOME	$5.9B
Interest Income	$0
Interest Expense	$190M
Other Income/Expenses	$123M
INCOME BEFORE TAX	$6.0B
Income Tax Expense	$422M
Net Income from Continuing Ops	$5.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.6B
D&A	$992M
EBIT	$6.2B
EBITDA	$7.2B
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$5.6B
Depreciation & Amortization	$992M
Stock-Based Compensation	$224M
Deferred Income Tax	-$137M
Other Non-Cash Items	-$107M
Change in Working Capital	-$428M
OPERATING CASH FLOW	$6.1B
Capital Expenditure	-$649M
Acquisitions (Net)	$649M
Purchases of Investments	-$5.8B
Sales/Maturities of Investments	$5.5B
Other Investing Activities	-$681M
NET CASH FROM INVESTING	-$922M
Net Debt Issuance	$998M
Common Stock Repurchased	-$2.6B
Common Dividends Paid	-$3.4B
Other Financing Activities	-$36M
NET CASH FROM FINANCING	-$4.5B
FREE CASH FLOW	$5.5B
Net Change in Cash	$670M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.1B
Short-Term Investments	$3.5B
Net Receivables	$1.4B
Inventory	$2.0B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$10.2B
PP&E (Net)	$3.3B
Goodwill	$4.4B
Intangible Assets	$274M
Long-Term Investments	$49M
Tax Assets	$343M
Other Non-Current Assets	$815M
TOTAL NON-CURRENT ASSETS	$9.1B
TOTAL ASSETS	$19.4B
Account Payables	$415M
Short-Term Debt	$550M
Deferred Revenue	$0
Other Current Liabilities	$695M
TOTAL CURRENT LIABILITIES	$2.4B
Long-Term Debt	$6.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$90M
Other Non-Current Liabilities	$1.2B
TOTAL NON-CURRENT LIABILITIES	$7.8B
TOTAL LIABILITIES	$10.2B
Common Stock	$1.7B
Additional Paid-In Capital	$2.3B
Retained Earnings	$42.1B
Treasury Stock	-$36.6B
Accum. Other Comp. Income	-$360M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$9.2B
Minority Interest	$0
TOTAL EQUITY	$9.2B
TOTAL LIABILITIES & EQUITY	$19.4B
Total Debt	$7.1B
Net Debt	$4.0B