Texas Instruments (TXN) FY2015 results: revenue $13.0 billion, down 0.3% on the year
Texas Instruments Inc. (TXN) reported revenue of $13.0 billion for fiscal 2015, the year ended 31 December 2015, down 0.3% on the year before. Net income was $3.0 billion, up 5.8%, and diluted earnings per share $2.82. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2016.
Revenue
$13.0 billion
-0.3% on the year
FY2008FY2015
Operating margin
33.2%
30.3% a year earlier
FY2008FY2015
Net income
$3.0 billion
+5.8% on the year
FY2008FY2015
Diluted EPS
$2.82
+9.7% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
13,000
13,045
12,205
-0.3%
Cost of revenue
5,425
5,618
5,841
-3.4%
Gross profit
7,560
7,427
6,364
+1.8%
Gross margin
58.2%
56.9%
52.1%
Research and development
1,267
1,358
1,522
-6.7%
Selling, general and administrative
1,728
1,843
1,858
-6.2%
Operating income
4,322
3,947
2,832
+9.5%
Operating margin
33.2%
30.3%
23.2%
Pre-tax income
4,216
3,874
2,754
+8.8%
Income tax
1,230
1,053
592
+16.8%
Effective tax rate
29.2%
27.2%
21.5%
Net income
2,986
2,821
2,162
+5.8%
Net margin
23.0%
21.6%
17.7%
Diluted EPS
$2.82
$2.57
$1.91
+9.7%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
n/a
n/a
3,384
Capital expenditure
551
385
412
+43.1%
Free cash flow
n/a
n/a
2,972
Free cash flow margin
n/a
n/a
24.4%
Depreciation and amortisation
1,085
1,171
1,215
-7.3%
Share-based compensation
286
277
287
+3.2%
Buybacks
2,741
2,831
2,868
-3.2%
Dividends paid
1,444
1,323
1,175
+9.1%
Dividend per share
$1.40
$1.24
$1.07
+12.9%
Diluted shares, weighted
1,043m
1,080m
1,113m
-3.4%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
9,946
10,390
10,807
-4.3%
Debt
4,120
4,631
5,158
-11.0%
Other liabilities
2,164
2,351
2,973
-8.0%
Total liabilities and equity
16,230
17,372
18,938
-6.6%
Fixed assets
2,596
2,840
3,399
-8.6%
Goodwill
4,362
4,362
4,362
0.0%
Intangible assets
1,583
1,902
2,223
-16.8%
Investments
2,439
2,566
2,418
-4.9%
Cash and equivalents
1,000
1,199
1,627
-16.6%
Receivables
1,165
1,246
1,203
-6.5%
Inventory
1,691
1,784
1,731
-5.2%
Other assets
1,394
1,473
1,975
-5.4%
Total assets
16,230
17,372
18,938
-6.6%
10-K for the year ended 31 December 2015, filed 24 February 2016: the filing.