Texas Instruments (TXN)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $263.5B, Texas Instruments's free cash flow of $2.6B (fiscal 2025) would need to grow about 27% a year for the stock to be worth today's price. That is faster than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Texas Instruments's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from TXN's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Texas Instruments's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $18.3B | $20.0B | $17.5B | $15.6B | $17.7B |
| Net income | $7.8B | $8.7B | $6.5B | $4.8B | $5.0B |
| Free cash flow | $6.3B | $5.9B | $1.3B | $1.5B | $2.6B |
| EPS (diluted) | $8.26 | $9.41 | $7.07 | $5.20 | $5.45 |
| Operating margin | 48.8% | 50.6% | 41.8% | 34.9% | 34.1% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own TXN
From each investor's latest 13F filing (what a 13F shows). 15 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| PRIMECAP Management PRIMECAP Management Co |
Trimmed | $2.5B | 1.5% | Q2 2026 |
| Hersh Cohen ClearBridge Investments |
Trimmed | $1.3B | 1.0% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $412M | 0.14% | Q2 2026 |
| Ric Dillon Diamond Hill Capital Management |
Trimmed | $240M | 1.9% | Q2 2026 |
| Tom Gayner Markel Group Inc. |
Held | $216M | 1.6% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $37M | 0.09% | Q2 2026 |
| Mario Gabelli GAMCO Investors |
Added | $35M | 0.31% | Q2 2026 |
| Wallace Weitz Weitz Investment Management |
Trimmed | $23M | 1.6% | Q2 2026 |
| Jean-Marie Eveillard First Eagle Investment Management |
Trimmed | $16M | 0.03% | Q2 2026 |
| Bill Nygren Harris Associates LP |
Trimmed | $14M | 0.02% | Q2 2026 |
| Will Nasgovitz Heartland Advisors |
Trimmed | $4M | 0.20% | Q2 2026 |
| Lee Ainslie Maverick Capital |
New position | $1M | 0.01% | Q2 2026 |
Insider buying
Open-market purchases by Texas Instruments's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Jan 29, 2026 | Ro Khanna |
0 | $218.97 | — |
| Jan 29, 2026 | Ro Khanna |
0 | $218.97 | — |
| Jan 29, 2026 | Ro Khanna |
0 | $218.97 | — |
| Nov 26, 2025 | Thomas H. Kean, Jr. |
0 | $165.35 | — |
| Nov 26, 2025 | Thomas H. Kean, Jr. |
0 | $165.35 | — |
| Nov 26, 2025 | Thomas H. Kean, Jr. |
0 | $165.35 | — |
| Oct 23, 2025 | Ro Khanna |
0 | $172.19 | — |
| Oct 23, 2025 | Ro Khanna |
0 | $172.19 | — |
| Oct 23, 2025 | Ro Khanna |
0 | $172.19 | — |
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In the full deep dive
Questions
What growth does Texas Instruments's stock price imply?
At a market value of $263.5B, Texas Instruments would need its free cash flow to grow about 27% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew -5% a year.
Are Texas Instruments insiders buying the stock?
9 open-market insider purchases of TXN in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Texas Instruments?
15 of the superinvestors Investingly tracks hold TXN in their latest 13F, including PRIMECAP Management, Hersh Cohen, Cliff Asness.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.