Texas Instruments (TXN) FY2012 results: revenue $12.8 billion, down 6.6% on the year
Texas Instruments Inc. (TXN) reported revenue of $12.8 billion for fiscal 2012, the year ended 31 December 2012, down 6.6% on the year before. Net income was $1.8 billion, down 21.3%, and diluted earnings per share $1.51. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2013.
Revenue
$12.8 billion
-6.6% on the year
FY2007FY2012
Operating margin
15.4%
21.8% a year earlier
FY2007FY2012
Net income
$1.8 billion
-21.3% on the year
FY2007FY2012
Diluted EPS
$1.51
-19.7% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
12,825
13,735
13,966
-6.6%
Cost of revenue
6,457
6,963
6,474
-7.3%
Gross profit
6,368
6,772
7,492
-6.0%
Gross margin
49.7%
49.3%
53.6%
Research and development
1,877
1,715
1,570
+9.4%
Selling, general and administrative
1,804
1,638
1,519
+10.1%
Operating income
1,973
2,992
4,514
-34.1%
Operating margin
15.4%
21.8%
32.3%
Pre-tax income
1,935
2,955
4,551
-34.5%
Income tax
176
719
1,323
-75.5%
Effective tax rate
9.1%
24.3%
29.1%
Net income
1,759
2,236
3,228
-21.3%
Net margin
13.7%
16.3%
23.1%
Diluted EPS
$1.51
$1.88
$2.62
-19.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
3,414
3,256
3,820
+4.9%
Capital expenditure
495
816
1,199
-39.3%
Free cash flow
2,919
2,440
2,621
+19.6%
Free cash flow margin
22.8%
17.8%
18.8%
Depreciation and amortisation
1,299
1,015
913
+28.0%
Share-based compensation
263
269
190
-2.2%
Buybacks
1,800
1,973
2,454
-8.8%
Dividends paid
819
644
592
+27.2%
Dividend per share
$0.72
$0.56
$0.49
+28.6%
Diluted shares, weighted
1,146m
1,171m
1,213m
-2.1%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
10,961
10,952
10,437
+0.1%
Debt
5,686
5,592
0.0
+1.7%
Other liabilities
3,374
3,953
2,964
-14.6%
Total liabilities and equity
20,021
20,497
13,401
-2.3%
Fixed assets
3,912
4,428
3,680
-11.7%
Goodwill
4,362
4,452
924
-2.0%
Intangible assets
2,558
2,900
76.0
-11.8%
Investments
2,764
2,208
2,206
+25.2%
Cash and equivalents
1,416
992
1,319
+42.7%
Receivables
1,230
1,545
1,518
-20.4%
Inventory
1,757
1,788
1,520
-1.7%
Other assets
2,022
2,184
2,158
-7.4%
Total assets
20,021
20,497
13,401
-2.3%
10-K for the year ended 31 December 2012, filed 22 February 2013: the filing.