TEXAS INSTRUMENTS INC（TXN）の決算・業績分析
TEXAS INSTRUMENTS INCの2025年有価証券報告書をAI分析。売上高$17.7B(+13.0%)。営業利益$6.0B。Information Technology。
目次
TEXAS INSTRUMENTS INCの2025年度 業績サマリー
TEXAS INSTRUMENTS INC（証券コード: TXN）の2025年度決算・業績分析。売上高は$17.7B（前年比+13.0%）。営業利益は$6.0B（前年比+10.2%）。純利益は$5.0B（前年比+4.2%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
TEXAS INSTRUMENTS INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- FY2024 revenue reached $20.0B (+9.2% YoY), driven by strong performance in analog and embedded processing segments (XBRL).
- Operating income surged to $10.1B (+13.2% YoY), with gross margin at 68.8% and net margin at 43.7% (XBRL).
- The company returned $7.9B to shareholders via dividends ($4.3B) and buybacks ($3.6B), despite $2.8B in CapEx (XBRL).
- Liquidity remains robust, with a current ratio of 4.55x and $3.0B in cash (XBRL).
- ROE of 51.8% highlights strong equity returns, supported by a 52.2% equity ratio (XBRL).
TEXAS INSTRUMENTS INCの売上高変化の要因
- •FY2024 revenue of $20.0B reflects a 9.2% YoY increase, with historical growth from $15.8B in FY2020 to $20.0B in FY2024 (XBRL). The 5-year CAGR for revenue is 2.1%, though FY2024 marks a peak before a projected decline to $17.5B in FY2025 (XBRL). Segment-specific revenue data is not disclosed, but growth is likely driven by demand in analog and embedded processing products. Operating income grew 13.2% YoY to $10.1B, reflecting improved efficiency and pricing power.
TEXAS INSTRUMENTS INCの営業利益変化の要因
- •Profitability metrics show strong performance: gross margin of 68.8%, operating margin of 50.6%, and net margin of 43.7% (XBRL). Operating income increased 13.2% YoY to $10.1B, while net income rose 12.6% YoY to $8.7B (XBRL). EBITDA of $11.1B (55.2% of revenue) highlights efficient cost management. The 5-year CAGR for net income is 3.1%, outpacing revenue growth (XBRL).
TEXAS INSTRUMENTS INCの事業リスクと対応
Geopolitical tensions and trade restrictions could disrupt supply chains and impact revenue (10-K).
Intense global competition, particularly in Asia, threatens pricing and market share (10-K).
Cyclical semiconductor demand fluctuations may affect revenue stability (10-K).
Currency volatility risks non-U.S. dollar transactions, with 60% of revenue from non-U.S. customers (10-K).
Reliance on large customers exposes the company to potential revenue curtailments (10-K).
TEXAS INSTRUMENTS INCの事業内容
Texas Instruments Inc. (TXN) designs and manufactures semiconductors for global electronics designers and manufacturers, generating revenue through the sale of analog and embedded processing products (10-K). The company operates two reportable segments: Analog and Embedded Processing, offering over 80,000 semiconductor products for applications such as signal conversion, power management, and data processing (10-K). Key competitive advantages include a broad product portfolio, strong manufacturing/technology foundation, and market channel reach (10-K). While customer concentration details are not disclosed, the company faces risks from reliance on large customers and intense global competition (10-K).
TEXAS INSTRUMENTS INCのAI業績分析レポート（2024年度）
Highlights
Business Overview
Texas Instruments Inc. (TXN) designs and manufactures semiconductors for global electronics designers and manufacturers, generating revenue through the sale of analog and embedded processing products (10-K). The company operates two reportable segments: Analog and Embedded Processing, offering over 80,000 semiconductor products for applications such as signal conversion, power management, and data processing (10-K). Key competitive advantages include a broad product portfolio, strong manufacturing/technology foundation, and market channel reach (10-K). While customer concentration details are not disclosed, the company faces risks from reliance on large customers and intense global competition (10-K).
Revenue Analysis
FY2024 revenue of $20.0B reflects a 9.2% YoY increase, with historical growth from $15.8B in FY2020 to $20.0B in FY2024 (XBRL). The 5-year CAGR for revenue is 2.1%, though FY2024 marks a peak before a projected decline to $17.5B in FY2025 (XBRL). Segment-specific revenue data is not disclosed, but growth is likely driven by demand in analog and embedded processing products. Operating income grew 13.2% YoY to $10.1B, reflecting improved efficiency and pricing power.
Profitability Analysis
Profitability metrics show strong performance: gross margin of 68.8%, operating margin of 50.6%, and net margin of 43.7% (XBRL). Operating income increased 13.2% YoY to $10.1B, while net income rose 12.6% YoY to $8.7B (XBRL). EBITDA of $11.1B (55.2% of revenue) highlights efficient cost management. The 5-year CAGR for net income is 3.1%, outpacing revenue growth (XBRL).
Balance Sheet Analysis
Total assets grew to $32.3B in FY2024, with total equity increasing to $16.9B (XBRL). The company maintains a healthy equity ratio of 52.2% and a debt-to-equity ratio of 0.91x (XBRL). Liquidity is strong, with a current ratio of 4.55x and $3.0B in cash (XBRL). Net debt of $7.7B (0.7x EBITDA) indicates manageable leverage (XBRL).
Cash Flow Analysis
Operating cash flow of $8.7B supported $5.9B in free cash flow after $2.8B in CapEx (XBRL). Investing cash flow was -$3.6B, reflecting capital expenditures, while financing cash flow was -$6.7B, driven by $4.3B in dividends and $3.6B in share repurchases (XBRL). The company prioritized shareholder returns despite significant reinvestment in operations.
Working Capital Analysis
The cash conversion cycle (CCC) was 219 days, with inventory days at 233 days (the longest metric) and receivables days at 33 days (XBRL). Payables days were 47 days, contributing to the extended CCC. High inventory days may signal inefficiencies in inventory management or demand forecasting.
Risks
Outlook
N/A. Management guidance and forward-looking trends are not explicitly detailed in the provided 10-K or XBRL data.
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 15.8B | 14.4B | 14.5B | 18.3B | 20.0B | 17.5B |
| Operating Income | 6.7B | 5.7B | 5.9B | 9.0B | 10.1B | 7.3B |
| Net Income | 5.6B | 5.0B | 5.6B | 7.8B | 8.7B | 6.5B |
| Total Assets | 18.0B | 19.4B | 24.7B | 27.2B | 32.3B | 35.5B |
| Total Equity | 8.9B | 9.2B | 13.3B | 14.6B | 16.9B | 16.9B |
| Operating Cash Flow | 7.2B | 6.6B | 6.1B | 8.8B | 8.7B | 6.4B |
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