TXN Q2 2021 Earnings Report — Texas Instruments Incorporated Revenue & Financial Results | Market Cap Arena

Texas Instruments IncorporatedTXN

Q2 2021 Earnings

Reported July 22, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2021	Q1 2021	Q2 2020	QoQ Change	YoY Change
Revenue	$4.6B	$4.3B	$3.2B	6.8%	41.4%
Op. Income	$2.2B	$1.9B	$1.2B	14.1%	80.2%
Gross Margin	67.2%	65.2%	64.3%	2.0pp	2.9pp
Net Margin	42.2%	40.9%	42.6%	1.3pp	-0.4pp
EPS (Diluted)	$2.05	$1.87	$1.48	9.6%	38.5%
Free Cash Flow	$1.7B	$1.5B	$1.6B	12.5%	9.1%

Revenue Flow

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$1.5B
GROSS PROFIT	$3.1B
R&D Expenses	$391M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$425M
Other Expenses	$48M
Operating Expenses	$864M
Cost & Expenses	$2.4B
OPERATING INCOME	$2.2B
Interest Income	$0
Interest Expense	$44M
Other Income/Expenses	$29M
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$311M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$247M
EBIT	$2.3B
EBITDA	$2.5B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$1.5B
GROSS PROFIT	$3.1B
R&D Expenses	$391M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$425M
Other Expenses	$48M
Operating Expenses	$864M
Cost & Expenses	$2.4B
OPERATING INCOME	$2.2B
Interest Income	$0
Interest Expense	$44M
Other Income/Expenses	$29M
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$311M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$247M
EBIT	$2.3B
EBITDA	$2.5B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.9B
Depreciation & Amortization	$247M
Stock-Based Compensation	$69M
Deferred Income Tax	-$1M
Other Non-Cash Items	-$57M
Change in Working Capital	-$68M
OPERATING CASH FLOW	$2.1B
Capital Expenditure	-$386M
Acquisitions (Net)	$386M
Purchases of Investments	-$2.0B
Sales/Maturities of Investments	$2.5B
Other Investing Activities	-$376M
NET CASH FROM INVESTING	$127M
Net Debt Issuance	$0
Common Stock Repurchased	-$146M
Common Dividends Paid	-$942M
Other Financing Activities	-$7M
NET CASH FROM FINANCING	-$1.0B
FREE CASH FLOW	$1.7B
Net Change in Cash	$1.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$3.6B
Short-Term Investments	$3.7B
Net Receivables	$1.6B
Inventory	$1.9B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$11.2B
PP&E (Net)	$3.7B
Goodwill	$4.4B
Intangible Assets	$156M
Long-Term Investments	$0
Tax Assets	$326M
Other Non-Current Assets	$904M
TOTAL NON-CURRENT ASSETS	$9.4B
TOTAL ASSETS	$20.6B
Account Payables	$587M
Short-Term Debt	$499M
Deferred Revenue	$107M
Other Current Liabilities	-$107M
TOTAL CURRENT LIABILITIES	$2.2B
Long-Term Debt	$5.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$87M
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$7.2B
TOTAL LIABILITIES	$9.4B
Common Stock	$1.7B
Additional Paid-In Capital	$2.5B
Retained Earnings	$43.8B
Treasury Stock	-$36.6B
Accum. Other Comp. Income	-$323M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$11.2B
Minority Interest	$0
TOTAL EQUITY	$11.2B
TOTAL LIABILITIES & EQUITY	$20.6B
Total Debt	$6.3B
Net Debt	$2.6B