Companies · TXN
Texas Instruments
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Latest analysis
Updated Oct 23, 2026
TXN Q3 2026: 28% YoY growth driven by broad cyclical recovery; Analog surges 32% on Signal Chain demand.
Texas Instruments delivered Q3 2026 revenue of $6.06 billion, up 28% year-over-year and 11% sequentially, with operating margins expanding to 47.5% from 35.1% as the company executes a cyclical upswing alongside secular semiconductor-content growth. Analog segment revenue jumped 32% to $4.91 billion driven by Signal Chain demand across industrial, automotive and data center; Embedded Processing grew 21% to $858 million. Trailing-twelve-month free cash flow reached $8.4 billion on $9.9 billion of operating cash flow, reflecting the structural benefit of 300mm-centric manufacturing and capacity investments. The Silicon Labs acquisition ($7.5 billion enterprise value, expected H1 2027) and a 7% dividend increase to $1.52 per share underscore management's confidence in sustained demand and capital return discipline.
Tone: bullishRevenue
$17.7B
TXN 10-K · FY 2025
Employees
33,000
Revenue growth YoY
+13%
Founded
1930
Profile
TXN 10-K Item 1 · Feb 6, 2026Texas Instruments designs and manufactures analog and embedded processing semiconductors sold to electronics designers and manufacturers worldwide. The company operates through two reportable segments — Analog and Embedded Processing — serving industrial, automotive, data center, personal electronics and communications equipment markets. TI's strategy centers on maximizing long-term free cash flow per share through a differentiated manufacturing model, broad product portfolio and direct customer channels.
Read filing description ↓ Collapse description ↑
We design and manufacture semiconductors that we sell to electronics designers and manufacturers all over the world. Our operations began in 1930, and we are incorporated in Delaware. With headquarters in Dallas, Texas, we have design, manufacturing or sales operations in more than 30 countries. Our two reportable segments are Analog and Embedded Processing, and we report the results of our remaining business activities in Other. In 2025, we generated $17.68 billion of revenue. For decades, we have operated with a passion to create a better world by making electronics more affordable through semiconductors. We were pioneers in the transition from vacuum tubes to transistors and then to integrated circuits. As each generation has become more reliable, more affordable and lower in power, semiconductors are used by a growing number of customers and markets. Our strategy to maximize long-term free cash flow per share growth has three elements: a business model focused on analog and embedded processing products built around four competitive advantages; disciplined allocation of capital; and efficiency. The four sustainable competitive advantages are a strong foundation of manufacturing and technology, a broad portfolio of analog and embedded processing products, the reach of our market channels, and diversity and longevity of our products, markets and customer positions. We own and operate semiconductor manufacturing facilities in North America, Asia, Japan and Europe. We have focused on creating a competitive manufacturing structural cost advantage by investing in our 300mm capacity, as an unpackaged chip built on a 300mm wafer costs about 40% less than an unpackaged chip built on a 200mm wafer. In 2025, more than 80% of our revenue was direct, which includes TI.com.
Primary products
- Power
- Signal Chain
- Microcontrollers
- Processors
- Wireless connectivity
- Radar products
Business segments
End markets
Geographies
“We believe that competitive performance in the semiconductor market generally depends on many factors, including the breadth of a company's product line, the strength and reach of its channels to market, technological innovation, product development execution, technical support, customer service, quality, reliability, price, and manufacturing capacity and capabilities, such as process and package technologies that provide differentiated levels of performance and a structural cost advantage.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Revenue increased $2.04 billion, or 13.0%, in 2025 versus 2024, driven by higher demand in the Analog segment and, to a lesser extent, the Embedded Processing segment.
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