TXN Q3 2021 Earnings Report — Texas Instruments Incorporated Revenue & Financial Results | Market Cap Arena

Texas Instruments IncorporatedTXN

Q3 2021 Earnings

Reported October 27, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2021	Q2 2021	Q3 2020	QoQ Change	YoY Change
Revenue	$4.6B	$4.6B	$3.8B	1.4%	21.6%
Op. Income	$2.3B	$2.2B	$1.6B	4.2%	43.3%
Gross Margin	67.9%	67.2%	64.3%	0.7pp	3.6pp
Net Margin	41.9%	42.2%	35.4%	-0.2pp	6.5pp
EPS (Diluted)	$2.07	$2.05	$1.45	1.0%	42.8%
Free Cash Flow	$1.9B	$1.7B	$1.3B	11.9%	49.7%

Revenue Flow

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$1.5B
GROSS PROFIT	$3.2B
R&D Expenses	$388M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$412M
Other Expenses	$47M
Operating Expenses	$847M
Cost & Expenses	$2.3B
OPERATING INCOME	$2.3B
Interest Income	$0
Interest Expense	$45M
Other Income/Expenses	-$30M
INCOME BEFORE TAX	$2.3B
Income Tax Expense	$328M
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	$253M
EBIT	$2.3B
EBITDA	$2.6B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$1.5B
GROSS PROFIT	$3.2B
R&D Expenses	$388M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$412M
Other Expenses	$47M
Operating Expenses	$847M
Cost & Expenses	$2.3B
OPERATING INCOME	$2.3B
Interest Income	$0
Interest Expense	$45M
Other Income/Expenses	-$30M
INCOME BEFORE TAX	$2.3B
Income Tax Expense	$328M
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	$253M
EBIT	$2.3B
EBITDA	$2.6B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.9B
Depreciation & Amortization	$253M
Stock-Based Compensation	$50M
Deferred Income Tax	$12M
Other Non-Cash Items	$5M
Change in Working Capital	$161M
OPERATING CASH FLOW	$2.4B
Capital Expenditure	-$486M
Acquisitions (Net)	$486M
Purchases of Investments	-$1.7B
Sales/Maturities of Investments	$1.3B
Other Investing Activities	-$506M
NET CASH FROM INVESTING	-$884M
Net Debt Issuance	$1.5B
Common Stock Repurchased	-$139M
Common Dividends Paid	-$942M
Other Financing Activities	-$19M
NET CASH FROM FINANCING	$470M
FREE CASH FLOW	$1.9B
Net Change in Cash	$2.0B

Balance Sheet

Item	Amount
Cash & Equivalents	$5.7B
Short-Term Investments	$4.1B
Net Receivables	$1.7B
Inventory	$1.9B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$13.6B
PP&E (Net)	$4.0B
Goodwill	$4.4B
Intangible Assets	$97M
Long-Term Investments	$0
Tax Assets	$309M
Other Non-Current Assets	$899M
TOTAL NON-CURRENT ASSETS	$9.7B
TOTAL ASSETS	$23.3B
Account Payables	$596M
Short-Term Debt	$500M
Deferred Revenue	$101M
Other Current Liabilities	-$101M
TOTAL CURRENT LIABILITIES	$2.4B
Long-Term Debt	$7.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$86M
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$8.7B
TOTAL LIABILITIES	$11.1B
Common Stock	$1.7B
Additional Paid-In Capital	$2.6B
Retained Earnings	$44.8B
Treasury Stock	-$36.7B
Accum. Other Comp. Income	-$313M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$12.2B
Minority Interest	$0
TOTAL EQUITY	$12.2B
TOTAL LIABILITIES & EQUITY	$23.3B
Total Debt	$7.7B
Net Debt	$2.1B