TXN Q1 2020 Earnings Report — Texas Instruments Incorporated Revenue & Financial Results | Market Cap Arena

Texas Instruments IncorporatedTXN

Q1 2020 Earnings

Reported April 22, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2020	Q4 2019	Q1 2019	QoQ Change	YoY Change
Revenue	$3.3B	$3.4B	$3.6B	-0.6%	-7.4%
Op. Income	$1.2B	$1.2B	$1.4B	-0.4%	-9.8%
Gross Margin	62.7%	62.6%	62.9%	0.1pp	-0.2pp
Net Margin	35.3%	31.9%	33.9%	3.3pp	1.4pp
EPS (Diluted)	$1.24	$1.12	$1.26	10.7%	-1.6%
Free Cash Flow	$690M	$1.6B	$856M	-56.6%	-19.4%

Revenue Flow

Item	Amount
REVENUE	$3.3B
Cost of Revenue	$1.2B
GROSS PROFIT	$2.1B
R&D Expenses	$377M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$417M
Other Expenses	$50M
Operating Expenses	$844M
Cost & Expenses	$2.1B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$45M
Other Income/Expenses	-$20M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$50M
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	$250M
EBIT	$1.3B
EBITDA	$1.5B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.3B
Cost of Revenue	$1.2B
GROSS PROFIT	$2.1B
R&D Expenses	$377M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$417M
Other Expenses	$50M
Operating Expenses	$844M
Cost & Expenses	$2.1B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$45M
Other Income/Expenses	-$20M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$50M
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	$250M
EBIT	$1.3B
EBITDA	$1.5B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$250M
Stock-Based Compensation	$63M
Deferred Income Tax	-$34M
Other Non-Cash Items	-$64M
Change in Working Capital	-$538M
OPERATING CASH FLOW	$851M
Capital Expenditure	-$161M
Acquisitions (Net)	$0
Purchases of Investments	-$646M
Sales/Maturities of Investments	$1.6B
Other Investing Activities	-$5M
NET CASH FROM INVESTING	$826M
Net Debt Issuance	$749M
Common Stock Repurchased	-$1.6B
Common Dividends Paid	-$841M
Other Financing Activities	-$9M
NET CASH FROM FINANCING	-$1.6B
FREE CASH FLOW	$690M
Net Change in Cash	$81M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.5B
Short-Term Investments	$2.2B
Net Receivables	$1.3B
Inventory	$2.0B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$8.3B
PP&E (Net)	$3.2B
Goodwill	$4.4B
Intangible Assets	$428M
Long-Term Investments	$34M
Tax Assets	$208M
Other Non-Current Assets	$708M
TOTAL NON-CURRENT ASSETS	$9.0B
TOTAL ASSETS	$17.3B
Account Payables	$363M
Short-Term Debt	$1.1B
Deferred Revenue	$62M
Other Current Liabilities	-$62M
TOTAL CURRENT LIABILITIES	$2.4B
Long-Term Debt	$5.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$64M
Other Non-Current Liabilities	$1.6B
TOTAL NON-CURRENT LIABILITIES	$7.2B
TOTAL LIABILITIES	$9.5B
Common Stock	$1.7B
Additional Paid-In Capital	$2.1B
Retained Earnings	$40.2B
Treasury Stock	-$36.0B
Accum. Other Comp. Income	-$328M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.7B
Minority Interest	$0
TOTAL EQUITY	$7.7B
TOTAL LIABILITIES & EQUITY	$17.3B
Total Debt	$6.5B
Net Debt	$4.0B