Texas Instruments Incorporated (TXN) Key Metrics
TXN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $252.49B
- Enterprise value
- $256.02B
- P/E (TTM)
- 42.1 10-yr median 24.2
- Forward P/E
- 27.5
- PEG ratio
- 0.97
- Price / sales
- 13.0 10-yr median 8.7
- Price / book
- 13.8 10-yr median 10.3
- EV / EBITDA
- 26.5 10-yr median 17.5
- Dividend yield
- 2.20% $6.08 a year
- Beta
- 1.34
TXN key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTXN valuation Price multiples at each fiscal year-end price.
TXN returns How much profit the business earns on the capital it uses.
TXN per-share figures Results divided by the shares outstanding at year-end.
TXN financial health Debt, liquidity and how easily interest is covered.
TXN efficiency & capital use Working capital cycle and where the cash goes.
TXN valuation history
TXN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TXN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TXN cash returned to shareholders
TXN price vs earnings per share
TXN key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $158.40B | $172.32B | $156.14B | $152.99B | $176.41B | $153.13B | $122.13B | $93.56B | $105.69B | $74.50B |
| Enterprise value | $168.91B | $179.78B | $158.79B | $153.42B | $174.87B | $153.68B | $122.88B | $94.39B | $105.30B | $74.62B |
| P/E ratio | 31.7 | 35.9 | 24.0 | 17.5 | 22.7 | 27.4 | 24.3 | 16.8 | 28.7 | 20.7 |
| Price / sales | 9.0 | 11.0 | 8.9 | 7.6 | 9.6 | 10.6 | 8.5 | 5.9 | 7.1 | 5.6 |
| Price / book | 9.7 | 10.2 | 9.2 | 10.5 | 13.2 | 16.7 | 13.7 | 10.4 | 10.2 | 7.1 |
| Price / free cash flow | 60.9 | 115.0 | 115.7 | 25.8 | 28.0 | 27.9 | 21.0 | 15.4 | 22.6 | 18.2 |
| Price / operating cash flow | 22.1 | 27.3 | 24.3 | 17.5 | 20.1 | 24.9 | 18.4 | 13.0 | 19.7 | 16.1 |
| EV / sales | 9.6 | 11.5 | 9.1 | 7.7 | 9.5 | 10.6 | 8.5 | 6.0 | 7.0 | 5.6 |
| EV / EBITDA | 20.5 | 23.8 | 18.7 | 13.7 | 17.4 | 21.3 | 17.7 | 12.2 | 14.9 | 12.5 |
| EV / free cash flow | 64.9 | 120.0 | 117.7 | 25.9 | 27.8 | 28.0 | 21.2 | 15.6 | 22.6 | 18.3 |
| Earnings yield | 3.2% | 2.8% | 4.2% | 5.7% | 4.4% | 3.7% | 4.1% | 6.0% | 3.5% | 4.8% |
| Free cash flow yield | 1.6% | 0.9% | 0.9% | 3.9% | 3.6% | 3.6% | 4.8% | 6.5% | 4.4% | 5.5% |
| Dividend yield | 3.2% | 2.8% | 2.9% | 2.8% | 2.2% | 2.2% | 2.5% | 2.7% | 2.0% | 2.2% |
| Shareholder yield (dividends + buybacks) | 4.1% | 3.3% | 3.1% | 5.2% | 2.5% | 3.9% | 4.9% | 8.2% | 4.4% | 5.1% |
| Share price at fiscal year-end | $173.49 | $187.51 | $170.46 | $165.22 | $188.47 | $164.13 | $128.29 | $94.50 | $104.44 | $72.97 |
| Per share | ||||||||||
| Revenue per share | $19.37 | $17.02 | $19.13 | $21.63 | $19.60 | $15.50 | $15.11 | $15.94 | $14.78 | $13.10 |
| Earnings per share | $5.48 | $5.22 | $7.11 | $9.45 | $8.30 | $6.00 | $5.27 | $5.64 | $3.64 | $3.52 |
| Operating cash flow per share | $7.83 | $6.87 | $7.01 | $9.42 | $9.35 | $6.58 | $6.98 | $7.26 | $5.30 | $4.52 |
| Free cash flow per share | $2.85 | $1.63 | $1.47 | $6.40 | $6.72 | $5.88 | $6.09 | $6.12 | $4.61 | $4.00 |
| Cash per share | $5.35 | $8.25 | $9.36 | $9.79 | $10.40 | $7.04 | $5.66 | $4.28 | $4.42 | $3.42 |
| Book value per share | $17.82 | $18.39 | $18.45 | $15.74 | $14.24 | $9.85 | $9.36 | $9.08 | $10.21 | $10.26 |
| Tangible book value per share | $12.82 | $13.37 | $13.44 | $10.87 | $9.49 | $4.88 | $4.34 | $3.95 | $4.86 | $4.70 |
| Dividends per share | $5.48 | $5.22 | $4.97 | $4.64 | $4.15 | $3.67 | $3.16 | $2.58 | $2.08 | $1.61 |
| Capex per share | $4.98 | $5.24 | $5.54 | $3.02 | $2.63 | $0.70 | $0.89 | $1.14 | $0.69 | $0.52 |
| Debt per share | $16.86 | $16.37 | $12.25 | $10.26 | $8.77 | $7.63 | $6.44 | $5.12 | $4.03 | $3.53 |
| Shares outstanding | 913.0M | 919.0M | 916.0M | 926.0M | 936.0M | 933.0M | 952.0M | 990.0M | 1.01B | 1.02B |
| Change in shares outstanding | −0.7% | +0.3% | −1.1% | −1.1% | +0.3% | −2.0% | −3.8% | −2.2% | −0.9% | −2.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 30.1% | 28.4% | 41.4% | 62.7% | 69.0% | 61.8% | 56.1% | 57.7% | 35.4% | 35.2% |
| Return on invested capital (ROIC) | 20.6% | 21.9% | 37.2% | 66.0% | 72.5% | 56.5% | 51.5% | 56.7% | 35.9% | 33.0% |
| Return on assets (ROA) | 14.3% | 14.1% | 21.9% | 33.7% | 35.3% | 29.9% | 28.5% | 32.1% | 21.6% | 22.0% |
| Return on tangible assets | 16.7% | 15.5% | 23.4% | 38.6% | 38.4% | 38.0% | 37.9% | 46.3% | 30.1% | 33.4% |
| Free cash flow margin | 14.7% | 9.6% | 7.7% | 29.6% | 34.3% | 38.0% | 40.3% | 38.4% | 31.2% | 30.5% |
| Income quality (OCF / net income) | 1.43 | 1.32 | 0.99 | 1.00 | 1.13 | 1.10 | 1.33 | 1.29 | 1.46 | 1.28 |
| Financial health | ||||||||||
| Total debt | $15.39B | $15.04B | $11.22B | $9.50B | $8.21B | $7.12B | $6.13B | $5.07B | $4.08B | $3.61B |
| Cash & short-term investments | $4.88B | $7.58B | $8.57B | $9.07B | $9.74B | $6.57B | $5.39B | $4.23B | $4.47B | $3.49B |
| Net debt | $10.51B | $7.46B | $2.65B | $431.0M | −$1.53B | $551.0M | $748.0M | $835.0M | −$392.0M | $119.0M |
| Debt / equity | 0.95 | 0.89 | 0.66 | 0.65 | 0.62 | 0.77 | 0.69 | 0.56 | 0.39 | 0.34 |
| Debt / assets | 0.45 | 0.42 | 0.35 | 0.35 | 0.33 | 0.37 | 0.34 | 0.30 | 0.23 | 0.22 |
| Net debt / EBITDA | 1.27 | 0.99 | 0.31 | 0.04 | −0.15 | 0.08 | 0.11 | 0.11 | −0.06 | 0.02 |
| Current ratio | 4.35 | 4.12 | 4.55 | 4.70 | 5.33 | 4.28 | 4.13 | 3.27 | 3.87 | 3.29 |
| Quick ratio | 2.83 | 2.88 | 3.35 | 3.77 | 4.58 | 3.47 | 3.18 | 2.38 | 3.00 | 2.50 |
| Interest coverage | 11.1 | 10.8 | 20.8 | 47.4 | 48.7 | 31.0 | 33.7 | 53.7 | 78.0 | 60.7 |
| Working capital | $10.59B | $11.38B | $11.80B | $11.04B | $11.12B | $7.85B | $6.64B | $5.62B | $6.48B | $5.19B |
| Invested capital | $26.78B | $24.36B | $19.55B | $15.01B | $11.80B | $9.74B | $9.65B | $9.83B | $9.95B | $10.59B |
| Tangible asset value | $11.71B | $12.28B | $12.31B | $10.06B | $8.89B | $4.55B | $4.14B | $3.92B | $4.92B | $4.79B |
| Net current asset value | −$4.56B | −$3.58B | −$329.0M | $1.39B | $2.34B | $75.0M | −$350.0M | −$46.0M | $1.43B | $1.50B |
| Graham number | $46.87 | $46.49 | $54.31 | $57.85 | $51.58 | $36.45 | $33.31 | $33.94 | $28.92 | $28.51 |
| Graham net-net per share | −$10.47 | −$8.13 | −$3.86 | −$0.82 | $0.67 | −$1.67 | −$2.01 | −$1.92 | −$0.89 | −$0.61 |
| Capital allocation | ||||||||||
| Dividends paid | $5.00B | $4.79B | $4.56B | $4.30B | $3.89B | $3.43B | $3.01B | $2.56B | $2.10B | $1.65B |
| Share buybacks (net) | $1.48B | $929.0M | $293.0M | $3.62B | $527.0M | $2.55B | $2.96B | $5.10B | $2.56B | $2.13B |
| Dividend payout ratio | 100.0% | 99.9% | 70.0% | 49.1% | 50.0% | 61.2% | 60.0% | 45.8% | 57.1% | 45.8% |
| Dividends + buybacks / free cash flow | 248.8% | 382.1% | 359.5% | 133.6% | 70.1% | 108.9% | 102.9% | 126.4% | 99.8% | 92.5% |
| Capex / revenue | 25.7% | 30.8% | 28.9% | 14.0% | 13.4% | 4.5% | 5.9% | 7.2% | 4.6% | 4.0% |
| Capex / operating cash flow | 63.6% | 76.3% | 79.0% | 32.1% | 28.1% | 10.6% | 12.7% | 15.7% | 13.0% | 11.5% |
| Capex / depreciation | 2.28 | 3.05 | 4.10 | 2.86 | 2.58 | 0.65 | 0.81 | 1.19 | 0.77 | 0.56 |
| Stock-based compensation / revenue | 2.4% | 2.5% | 2.1% | 1.4% | 1.3% | 1.5% | 1.5% | 1.5% | 1.6% | 1.9% |
| R&D / revenue | 11.8% | 12.5% | 10.6% | 8.3% | 8.5% | 10.6% | 10.7% | 9.9% | 10.1% | 10.1% |
| SG&A / revenue | 10.5% | 11.5% | 10.4% | 8.5% | 9.1% | 11.2% | 11.4% | 10.7% | 11.3% | 13.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 38.0 | 40.9 | 38.4 | 32.8 | 31.0 | 31.4 | 28.9 | 28.7 | 31.0 | 33.2 |
| Days of inventory on hand | 224.1 | 237.7 | 189.7 | 136.1 | 118.2 | 139.1 | 147.5 | 138.3 | 127.9 | 123.8 |
| Days payables outstanding | 37.8 | 45.2 | 46.4 | 41.5 | 30.2 | 28.2 | 30.3 | 31.3 | 29.4 | 27.8 |
| Cash conversion cycle (days) | 224.2 | 233.4 | 181.6 | 127.4 | 119.0 | 142.2 | 146.2 | 135.8 | 129.5 | 129.2 |
| Receivables turnover | 9.60 | 8.92 | 9.52 | 11.14 | 11.78 | 11.62 | 12.61 | 12.70 | 11.76 | 11.00 |
| Payables turnover | 9.64 | 8.07 | 7.86 | 8.80 | 12.11 | 12.93 | 12.05 | 11.67 | 12.41 | 13.12 |
| Inventory turnover | 1.63 | 1.54 | 1.92 | 2.68 | 3.09 | 2.62 | 2.47 | 2.64 | 2.85 | 2.95 |
| Asset turnover | 0.50 | 0.46 | 0.59 | 0.77 | 0.83 | 0.77 | 0.82 | 0.91 | 0.88 | 0.82 |
| Average receivables | $1.84B | $1.75B | $1.84B | $1.80B | $1.56B | $1.24B | $1.14B | $1.24B | $1.27B | $1.22B |
| Average payables | $788.0M | $811.0M | $826.5M | $711.0M | $493.0M | $401.5M | $433.0M | $472.0M | $431.0M | $391.0M |
| Average inventory | $4.67B | $4.26B | $3.38B | $2.33B | $1.93B | $1.98B | $2.11B | $2.09B | $1.87B | $1.74B |
| Intangibles / total assets | 13.2% | 13.0% | 14.2% | 16.6% | 18.0% | 24.0% | 26.5% | 29.6% | 30.7% | 34.6% |
Computed from TXN's annual financial statements (latest annual report filed February 6, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TXN valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Texas Instruments traded at 31.7 times earnings, against a 10-year median of 24.2. Based on the latest twelve months, the trailing P/E is 42.1 and the forward P/E is 27.5. Texas Instruments earned a return on equity of 30.1% and a return on invested capital of 20.6% in fiscal 2025. It ended the year with $15.4 billion of debt and $4.9 billion in cash and short-term investments, net debt of $10.5 billion. It returned $6.5 billion to shareholders: $5.0 billion in dividends and $1.5 billion in share buybacks, 249% of free cash flow. The share count fell 10.6% from 1.02B to 913.0M over 9 years.
See the TXN income statement, the TXN chart for price history, or the TXN stock overview for the latest quote and news.
TXN key metrics FAQ
What is Texas Instruments's P/E ratio?
Texas Instruments's trailing P/E ratio is 42.1 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 27.5. At the end of fiscal 2025 it was 31.7, compared with a 10-year median of 24.2.
What is Texas Instruments's EV/EBITDA?
Texas Instruments's enterprise value was 20.5 times EBITDA at the end of fiscal 2025 (enterprise value $168.9 billion, EBITDA $8.3 billion); the current EV/EBITDA is 26.5.
What is Texas Instruments's return on equity?
Texas Instruments's return on equity (ROE) was 30.1% in fiscal 2025: net income of $5.0 billion on average shareholders' equity of $16.6 billion.
What is Texas Instruments's ROIC?
Texas Instruments's return on invested capital was 20.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Texas Instruments have?
Texas Instruments had total debt of $15.4 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.95 and $10.5 billion of net debt (1.27 times EBITDA).
What is Texas Instruments's dividend yield?
Texas Instruments's forward dividend yield is 2.20%. Texas Instruments paid $5.0 billion in dividends in fiscal 2025 ($5.48 per share), a payout ratio of 100.0%.
Does Texas Instruments buy back its shares?
Yes. Texas Instruments spent $1.5 billion on net share repurchases in fiscal 2025 Shares outstanding changed −0.7% over the year, to 913.0M..
What is Texas Instruments's free cash flow yield?
Texas Instruments generated $2.6 billion of free cash flow in fiscal 2025, a free cash flow yield of 1.6% on its market value at year-end ($158.4 billion).
What is Texas Instruments's current ratio?
Texas Instruments's current ratio was 4.35 at the end of fiscal 2025: current assets were 4.35 times current liabilities.