TXN Q2 2019 Earnings Report — Texas Instruments Incorporated Revenue & Financial Results | Market Cap Arena

Texas Instruments IncorporatedTXN

Q2 2019 Earnings

Reported July 31, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2019	Q1 2019	Q2 2018	QoQ Change	YoY Change
Revenue	$3.7B	$3.6B	$4.0B	2.1%	-8.7%
Op. Income	$1.5B	$1.4B	$1.7B	9.2%	-12.0%
Gross Margin	64.3%	62.9%	65.2%	1.4pp	-0.9pp
Net Margin	35.6%	33.9%	35.0%	1.7pp	0.6pp
EPS (Diluted)	$1.36	$1.26	$1.40	7.9%	-2.9%
Free Cash Flow	$1.5B	$856M	$1.6B	76.6%	-4.1%

Revenue Flow

Item	Amount
REVENUE	$3.7B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.4B
R&D Expenses	$390M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$420M
Other Expenses	$44M
Operating Expenses	$854M
Cost & Expenses	$2.2B
OPERATING INCOME	$1.5B
Interest Income	$0
Interest Expense	$44M
Other Income/Expenses	$8M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$209M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.3B
D&A	$267M
EBIT	$1.6B
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.7B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.4B
R&D Expenses	$390M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$420M
Other Expenses	$44M
Operating Expenses	$854M
Cost & Expenses	$2.2B
OPERATING INCOME	$1.5B
Interest Income	$0
Interest Expense	$44M
Other Income/Expenses	$8M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$209M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.3B
D&A	$267M
EBIT	$1.6B
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.3B
Depreciation & Amortization	$267M
Stock-Based Compensation	$67M
Deferred Income Tax	$31M
Other Non-Cash Items	-$55M
Change in Working Capital	$181M
OPERATING CASH FLOW	$1.8B
Capital Expenditure	-$284M
Acquisitions (Net)	$284M
Purchases of Investments	-$239M
Sales/Maturities of Investments	$200M
Other Investing Activities	-$219M
NET CASH FROM INVESTING	-$258M
Net Debt Issuance	$0
Common Stock Repurchased	-$863M
Common Dividends Paid	-$722M
Other Financing Activities	-$6M
NET CASH FROM FINANCING	-$1.4B
FREE CASH FLOW	$1.5B
Net Change in Cash	$93M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.8B
Short-Term Investments	$405M
Net Receivables	$1.4B
Inventory	$2.1B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$8.0B
PP&E (Net)	$3.4B
Goodwill	$4.4B
Intangible Assets	$557M
Long-Term Investments	$300M
Tax Assets	$261M
Other Non-Current Assets	$583M
TOTAL NON-CURRENT ASSETS	$9.4B
TOTAL ASSETS	$17.4B
Account Payables	$412M
Short-Term Debt	$1.2B
Deferred Revenue	$87M
Other Current Liabilities	-$87M
TOTAL CURRENT LIABILITIES	$2.6B
Long-Term Debt	$4.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$49M
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$6.3B
TOTAL LIABILITIES	$8.9B
Common Stock	$1.7B
Additional Paid-In Capital	$2.0B
Retained Earnings	$39.0B
Treasury Stock	-$33.8B
Accum. Other Comp. Income	-$457M
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	$2.0B