Stock Analysis on Net

Texas Instruments Inc. (NASDAQ:TXN)

$24.99

Analysis of Revenues

Microsoft Excel

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Revenues as Reported

Texas Instruments Inc., income statement, revenues

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Analog semiconductors
Embedded Processing
Other
Revenue

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).


Overall revenue exhibited initial growth followed by a contraction and subsequent partial recovery over the five-year period. A detailed examination of the constituent revenue streams reveals varying performance patterns.

Analog Semiconductors
Analog semiconductor revenue increased from US$14,050 million in 2021 to US$15,359 million in 2022, representing a growth of approximately 9.3%. However, this was followed by a decline to US$13,040 million in 2023 and further to US$12,161 million in 2024. A modest recovery to US$14,006 million is observed in 2025, approaching the 2021 level. This segment demonstrates cyclical behavior with a peak in 2022 and a subsequent downturn.
Embedded Processing
Embedded Processing revenue showed a consistent, albeit modest, increase from US$3,049 million in 2021 to US$3,368 million in 2023. A significant decrease occurred in 2024, with revenue falling to US$2,533 million. This trend reverses slightly in 2025, with revenue reaching US$2,697 million, but remains below the 2023 peak. This segment experienced a more pronounced decline in 2024 compared to the overall revenue trend.
Other
Revenue from the ‘Other’ category increased from US$1,245 million in 2021 to US$1,408 million in 2022. This was followed by a decrease to US$1,111 million in 2023 and US$947 million in 2024. A slight increase to US$979 million is noted in 2025, but it remains below the 2022 high. This segment exhibits a similar pattern of initial growth followed by decline, though the absolute values are smaller than the other two segments.
Total Revenue
Total revenue increased from US$18,344 million in 2021 to US$20,028 million in 2022, a growth of approximately 9.2%. A substantial decrease is then observed in 2023, with revenue falling to US$17,519 million. This downward trend continues in 2024, reaching US$15,641 million. Revenue partially recovers in 2025, reaching US$17,682 million, but remains below the 2022 peak. The overall revenue trend closely mirrors the performance of the Analog Semiconductors segment, suggesting its significant influence on total revenue.

The period between 2022 and 2024 demonstrates a clear contraction across all revenue streams. While 2025 shows signs of recovery, revenue levels have not yet returned to the 2022 highs. The Embedded Processing segment experienced a particularly sharp decline in 2024, while the Analog Semiconductors segment appears to be the primary driver of the overall revenue trend.