TXN Q1 2019 Earnings Report — Texas Instruments Incorporated Revenue & Financial Results | Market Cap Arena

Texas Instruments IncorporatedTXN

Q1 2019 Earnings

Reported April 30, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2019	Q4 2018	Q1 2018	QoQ Change	YoY Change
Revenue	$3.6B	$3.7B	$3.8B	-3.3%	-5.1%
Op. Income	$1.4B	$1.5B	$1.5B	-9.0%	-10.9%
Gross Margin	62.9%	64.8%	64.6%	-1.8pp	-1.7pp
Net Margin	33.9%	33.3%	36.1%	0.5pp	-2.2pp
EPS (Diluted)	$1.26	$1.27	$1.35	-0.8%	-6.7%
Free Cash Flow	$856M	$1.8B	$923M	-53.0%	-7.3%

Revenue Flow

Item	Amount
REVENUE	$3.6B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.3B
R&D Expenses	$389M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$414M
Other Expenses	$79M
Operating Expenses	$882M
Cost & Expenses	$2.2B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$38M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$160M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$258M
EBIT	$1.4B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.6B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.3B
R&D Expenses	$389M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$414M
Other Expenses	$79M
Operating Expenses	$882M
Cost & Expenses	$2.2B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$38M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$160M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$258M
EBIT	$1.4B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$258M
Stock-Based Compensation	$61M
Deferred Income Tax	$4M
Other Non-Cash Items	$25M
Change in Working Capital	-$458M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	-$251M
Acquisitions (Net)	$0
Purchases of Investments	-$149M
Sales/Maturities of Investments	$1.6B
Other Investing Activities	-$11M
NET CASH FROM INVESTING	$1.2B
Net Debt Issuance	$743M
Common Stock Repurchased	-$1.2B
Common Dividends Paid	-$724M
Other Financing Activities	-$16M
NET CASH FROM FINANCING	-$998M
FREE CASH FLOW	$856M
Net Change in Cash	$1.3B

Balance Sheet

Item	Amount
Cash & Equivalents	$3.7B
Short-Term Investments	$366M
Net Receivables	$1.4B
Inventory	$2.1B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$8.0B
PP&E (Net)	$3.3B
Goodwill	$4.4B
Intangible Assets	$647M
Long-Term Investments	$281M
Tax Assets	$290M
Other Non-Current Assets	$594M
TOTAL NON-CURRENT ASSETS	$9.5B
TOTAL ASSETS	$17.4B
Account Payables	$477M
Short-Term Debt	$750M
Deferred Revenue	$113M
Other Current Liabilities	-$113M
TOTAL CURRENT LIABILITIES	$2.2B
Long-Term Debt	$5.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$43M
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$6.8B
TOTAL LIABILITIES	$8.9B
Common Stock	$1.7B
Additional Paid-In Capital	$1.9B
Retained Earnings	$38.4B
Treasury Stock	-$33.1B
Accum. Other Comp. Income	-$465M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.5B
Minority Interest	$0
TOTAL EQUITY	$8.5B
TOTAL LIABILITIES & EQUITY	$17.4B
Total Debt	$6.2B
Net Debt	$2.1B