Texas Instruments (TXN) FY2023 results: revenue $17.5 billion, down 12.5% on the year
Texas Instruments Inc. (TXN) reported revenue of $17.5 billion for fiscal 2023, the year ended 31 December 2023, down 12.5% on the year before. Net income was $6.5 billion, down 25.6%, and diluted earnings per share $7.07. The figures are the company's own, from the 10-K it filed with the SEC on 2 February 2024.
Revenue
$17.5 billion
-12.5% on the year
FY2016FY2023
Operating margin
41.8%
50.6% a year earlier
FY2016FY2023
Net income
$6.5 billion
-25.6% on the year
FY2016FY2023
Diluted EPS
$7.07
-24.9% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
6,420
8,720
8,756
-26.4%
Capital expenditure
5,071
2,797
2,462
+81.3%
Free cash flow
1,349
5,923
6,294
-77.2%
Free cash flow margin
7.7%
29.6%
34.3%
Cash from investing
-4,362
-3,583
-4,095
Cash from financing
-2,144
-6,718
-3,137
Depreciation and amortisation
1,175
925
897
+27.0%
Share-based compensation
362
289
230
+25.3%
Buybacks
293
3,615
527
-91.9%
Dividends paid
4,557
4,297
3,886
+6.1%
Dividend per share
$5.02
$4.69
$4.21
+7.0%
Diluted shares, weighted
916m
926m
936m
-1.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
16,897
14,577
13,333
+15.9%
Debt
11,223
8,735
7,741
+28.5%
Operating lease liabilities
478
344
383
+39.0%
Other liabilities
3,750
3,551
3,219
+5.6%
Total liabilities and equity
32,348
27,207
24,676
+18.9%
Fixed assets
9,999
6,876
5,141
+45.4%
Goodwill
4,362
4,362
4,362
0.0%
Investments
5,645
6,051
5,170
-6.7%
Cash and equivalents
2,964
3,050
4,631
-2.8%
Receivables
1,787
1,895
1,701
-5.7%
Inventory
3,999
2,757
1,910
+45.0%
Other assets
3,592
2,216
1,761
+62.1%
Total assets
32,348
27,207
24,676
+18.9%
10-K for the year ended 31 December 2023, filed 2 February 2024: the filing.