TXN Q3 2019 Earnings Report — Texas Instruments Incorporated Revenue & Financial Results | Market Cap Arena

Texas Instruments IncorporatedTXN

Q3 2019 Earnings

Reported October 31, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2019	Q2 2019	Q3 2018	QoQ Change	YoY Change
Revenue	$3.8B	$3.7B	$4.3B	2.8%	-11.5%
Op. Income	$1.6B	$1.5B	$1.9B	5.5%	-18.0%
Gross Margin	64.9%	64.3%	65.8%	0.5pp	-0.9pp
Net Margin	37.8%	35.6%	36.8%	2.2pp	0.9pp
EPS (Diluted)	$1.49	$1.36	$1.58	9.6%	-5.7%
Free Cash Flow	$1.8B	$1.5B	$1.7B	21.9%	6.2%

Revenue Flow

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.4B
R&D Expenses	$379M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$399M
Other Expenses	$79M
Operating Expenses	$857M
Cost & Expenses	$2.2B
OPERATING INCOME	$1.6B
Interest Income	$0
Interest Expense	$43M
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$155M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$1M
BOTTOM LINE NET INCOME	$1.4B
D&A	$275M
EBIT	$1.6B
EBITDA	$1.9B
EPS	$2
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.4B
R&D Expenses	$379M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$399M
Other Expenses	$79M
Operating Expenses	$857M
Cost & Expenses	$2.2B
OPERATING INCOME	$1.6B
Interest Income	$0
Interest Expense	$43M
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$155M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$1M
BOTTOM LINE NET INCOME	$1.4B
D&A	$275M
EBIT	$1.6B
EBITDA	$1.9B
EPS	$2
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.4B
Depreciation & Amortization	$275M
Stock-Based Compensation	$48M
Deferred Income Tax	-$4M
Other Non-Cash Items	$23M
Change in Working Capital	$225M
OPERATING CASH FLOW	$2.0B
Capital Expenditure	-$149M
Acquisitions (Net)	$149M
Purchases of Investments	-$986M
Sales/Maturities of Investments	$220M
Other Investing Activities	-$148M
NET CASH FROM INVESTING	-$914M
Net Debt Issuance	-$2M
Common Stock Repurchased	-$456M
Common Dividends Paid	-$721M
Other Financing Activities	-$13M
NET CASH FROM FINANCING	-$998M
FREE CASH FLOW	$1.8B
Net Change in Cash	$80M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.9B
Short-Term Investments	$1.2B
Net Receivables	$1.3B
Inventory	$2.0B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$8.7B
PP&E (Net)	$3.3B
Goodwill	$4.4B
Intangible Assets	$467M
Long-Term Investments	$298M
Tax Assets	$257M
Other Non-Current Assets	$577M
TOTAL NON-CURRENT ASSETS	$9.3B
TOTAL ASSETS	$18.0B
Account Payables	$397M
Short-Term Debt	$499M
Deferred Revenue	$58M
Other Current Liabilities	-$58M
TOTAL CURRENT LIABILITIES	$2.0B
Long-Term Debt	$5.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$49M
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$7.0B
TOTAL LIABILITIES	$9.0B
Common Stock	$1.7B
Additional Paid-In Capital	$2.1B
Retained Earnings	$39.7B
Treasury Stock	-$34.0B
Accum. Other Comp. Income	-$443M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$9.0B
Minority Interest	$0
TOTAL EQUITY	$9.0B
TOTAL LIABILITIES & EQUITY	$18.0B
Total Debt	$6.1B
Net Debt	$1.9B