TXN Q1 2021 Earnings Report — Texas Instruments Incorporated Revenue & Financial Results | Market Cap Arena

Texas Instruments IncorporatedTXN

Q1 2021 Earnings

Reported April 28, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2021	Q4 2020	Q1 2020	QoQ Change	YoY Change
Revenue	$4.3B	$4.1B	$3.3B	5.2%	28.8%
Op. Income	$1.9B	$1.8B	$1.2B	6.9%	55.9%
Gross Margin	65.2%	64.9%	62.7%	0.3pp	2.5pp
Net Margin	40.9%	41.4%	35.3%	-0.5pp	5.6pp
EPS (Diluted)	$1.87	$1.80	$1.24	3.9%	50.8%
Free Cash Flow	$1.5B	$1.9B	$690M	-19.4%	123.5%

Revenue Flow

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$1.5B
GROSS PROFIT	$2.8B
R&D Expenses	$386M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$425M
Other Expenses	$47M
Operating Expenses	$858M
Cost & Expenses	$2.4B
OPERATING INCOME	$1.9B
Interest Income	$0
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.9B
Income Tax Expense	$186M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$8M
BOTTOM LINE NET INCOME	$1.7B
D&A	$241M
EBIT	$2.0B
EBITDA	$2.2B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$1.5B
GROSS PROFIT	$2.8B
R&D Expenses	$386M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$425M
Other Expenses	$47M
Operating Expenses	$858M
Cost & Expenses	$2.4B
OPERATING INCOME	$1.9B
Interest Income	$0
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.9B
Income Tax Expense	$186M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$8M
BOTTOM LINE NET INCOME	$1.7B
D&A	$241M
EBIT	$2.0B
EBITDA	$2.2B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.8B
Depreciation & Amortization	$241M
Stock-Based Compensation	$61M
Deferred Income Tax	$8M
Other Non-Cash Items	-$2M
Change in Working Capital	-$211M
OPERATING CASH FLOW	$1.9B
Capital Expenditure	-$308M
Acquisitions (Net)	$0
Purchases of Investments	-$2.8B
Sales/Maturities of Investments	$2.0B
Other Investing Activities	-$19M
NET CASH FROM INVESTING	-$1.1B
Net Debt Issuance	-$550M
Common Stock Repurchased	-$100M
Common Dividends Paid	-$940M
Other Financing Activities	-$12M
NET CASH FROM FINANCING	-$1.4B
FREE CASH FLOW	$1.5B
Net Change in Cash	-$665M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.4B
Short-Term Investments	$4.2B
Net Receivables	$1.6B
Inventory	$1.9B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$10.4B
PP&E (Net)	$3.4B
Goodwill	$4.4B
Intangible Assets	$218M
Long-Term Investments	$0
Tax Assets	$331M
Other Non-Current Assets	$892M
TOTAL NON-CURRENT ASSETS	$9.2B
TOTAL ASSETS	$19.6B
Account Payables	$567M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$467M
TOTAL CURRENT LIABILITIES	$1.7B
Long-Term Debt	$6.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$88M
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$7.8B
TOTAL LIABILITIES	$9.5B
Common Stock	$1.7B
Additional Paid-In Capital	$2.4B
Retained Earnings	$42.9B
Treasury Stock	-$36.5B
Accum. Other Comp. Income	-$347M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$10.2B
Minority Interest	$0
TOTAL EQUITY	$10.2B
TOTAL LIABILITIES & EQUITY	$19.6B
Total Debt	$6.3B
Net Debt	$3.8B