TXN Q4 2020 Earnings Report — Texas Instruments Incorporated Revenue & Financial Results | Market Cap Arena

Texas Instruments IncorporatedTXN

Q4 2020 Earnings

Reported February 5, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2020	Q3 2020	Q4 2019	QoQ Change	YoY Change
Revenue	$4.1B	$3.8B	$3.4B	6.8%	21.7%
Op. Income	$1.8B	$1.6B	$1.2B	12.7%	45.2%
Gross Margin	64.9%	64.3%	62.6%	0.7pp	2.3pp
Net Margin	41.4%	35.4%	31.9%	6.0pp	9.5pp
EPS (Diluted)	$1.80	$1.45	$1.12	24.1%	60.7%
Free Cash Flow	$1.9B	$1.3B	$1.6B	47.5%	20.2%

Revenue Flow

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$1.4B
GROSS PROFIT	$2.6B
R&D Expenses	$388M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$398M
Other Expenses	$47M
Operating Expenses	$833M
Cost & Expenses	$2.3B
OPERATING INCOME	$1.8B
Interest Income	$0
Interest Expense	$48M
Other Income/Expenses	$114M
INCOME BEFORE TAX	$1.9B
Income Tax Expense	$239M
Net Income from Continuing Ops	$1.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.7B
D&A	$243M
EBIT	$2.0B
EBITDA	$2.2B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$1.4B
GROSS PROFIT	$2.6B
R&D Expenses	$388M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$398M
Other Expenses	$47M
Operating Expenses	$833M
Cost & Expenses	$2.3B
OPERATING INCOME	$1.8B
Interest Income	$0
Interest Expense	$48M
Other Income/Expenses	$114M
INCOME BEFORE TAX	$1.9B
Income Tax Expense	$239M
Net Income from Continuing Ops	$1.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.7B
D&A	$243M
EBIT	$2.0B
EBITDA	$2.2B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.7B
Depreciation & Amortization	$243M
Stock-Based Compensation	$42M
Deferred Income Tax	-$22M
Other Non-Cash Items	-$91M
Change in Working Capital	$265M
OPERATING CASH FLOW	$2.1B
Capital Expenditure	-$212M
Acquisitions (Net)	$212M
Purchases of Investments	-$2.4B
Sales/Maturities of Investments	$1.6B
Other Investing Activities	-$232M
NET CASH FROM INVESTING	-$996M
Net Debt Issuance	$0
Common Stock Repurchased	-$15M
Common Dividends Paid	-$937M
Other Financing Activities	-$6M
NET CASH FROM FINANCING	-$844M
FREE CASH FLOW	$1.9B
Net Change in Cash	$285M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.1B
Short-Term Investments	$3.5B
Net Receivables	$1.4B
Inventory	$2.0B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$10.2B
PP&E (Net)	$3.3B
Goodwill	$4.4B
Intangible Assets	$274M
Long-Term Investments	$49M
Tax Assets	$343M
Other Non-Current Assets	$815M
TOTAL NON-CURRENT ASSETS	$9.1B
TOTAL ASSETS	$19.4B
Account Payables	$415M
Short-Term Debt	$550M
Deferred Revenue	$134M
Other Current Liabilities	-$134M
TOTAL CURRENT LIABILITIES	$2.4B
Long-Term Debt	$6.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$90M
Other Non-Current Liabilities	$1.2B
TOTAL NON-CURRENT LIABILITIES	$7.8B
TOTAL LIABILITIES	$10.2B
Common Stock	$1.7B
Additional Paid-In Capital	$2.3B
Retained Earnings	$42.1B
Treasury Stock	-$36.6B
Accum. Other Comp. Income	-$360M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$9.2B
Minority Interest	$0
TOTAL EQUITY	$9.2B
TOTAL LIABILITIES & EQUITY	$19.4B
Total Debt	$7.1B
Net Debt	$4.0B