Texas Instruments (TXN) FY2021 results: revenue $18.3 billion, up 26.9% on the year
Texas Instruments Inc. (TXN) reported revenue of $18.3 billion for fiscal 2021, the year ended 31 December 2021, up 26.9% on the year before. Net income was $7.8 billion, up 38.9%, and diluted earnings per share $8.26. The figures are the company's own, from the 10-K it filed with the SEC on 4 February 2022.
Revenue
$18.3 billion
+26.9% on the year
FY2014FY2021
Operating margin
48.8%
40.8% a year earlier
FY2014FY2021
Net income
$7.8 billion
+38.9% on the year
FY2014FY2021
Diluted EPS
$8.26
+38.4% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
8,756
6,139
6,649
+42.6%
Capital expenditure
2,462
649
847
+279.4%
Free cash flow
6,294
5,490
5,802
+14.6%
Free cash flow margin
34.3%
38.0%
40.3%
Cash from investing
-4,095
-922
-1,920
Cash from financing
-3,137
-4,547
-4,730
Depreciation and amortisation
897
931
996
-3.7%
Share-based compensation
230
224
217
+2.7%
Buybacks
527
2,553
2,960
-79.4%
Dividends paid
3,886
3,426
3,008
+13.4%
Dividend per share
$4.21
$3.72
$3.21
+13.2%
Diluted shares, weighted
936m
933m
952m
+0.3%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
13,333
9,187
8,907
+45.1%
Debt
7,741
6,798
5,803
+13.9%
Operating lease liabilities
383
249
259
+53.8%
Other liabilities
3,219
3,117
3,049
+3.3%
Total liabilities and equity
24,676
19,351
18,018
+27.5%
Fixed assets
5,141
3,269
3,303
+57.3%
Goodwill
4,362
4,362
4,362
0.0%
Intangible assets
n/a
152
340
Investments
5,170
3,510
3,250
+47.3%
Cash and equivalents
4,631
3,107
2,437
+49.1%
Receivables
1,701
1,414
1,074
+20.3%
Inventory
1,910
1,955
2,001
-2.3%
Other assets
1,761
1,582
1,251
+11.3%
Total assets
24,676
19,351
18,018
+27.5%
10-K for the year ended 31 December 2021, filed 4 February 2022: the filing.