Analysis of Inventory
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- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Return on Assets (ROA) since 2005
- Price to Sales (P/S) since 2005
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Inventory Disclosure
Texas Instruments Inc., balance sheet: inventory
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials | |||||||||||
| Work in process | |||||||||||
| Finished goods | |||||||||||
| Inventories |
Based on: 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), 10-K (reporting date: 2020-12-31).
The analysis of the annual financial data reveals distinct trends in inventory components over the five-year period.
- Raw Materials
- The value of raw materials has shown an overall increasing trend from 180 million US dollars in 2020 to a peak of 420 million in 2023, followed by a slight decrease to 395 million in 2024. This suggests a growing investment in raw inputs until 2023, with a minor reduction in the most recent year.
- Work in Process
- Work in process inventories have demonstrated a consistent and significant increase each year, rising from 964 million in 2020 to 2,214 million in 2024. This reflects escalating levels of products still in production, indicating potentially longer production cycles or increased production volumes.
- Finished Goods
- Finished goods inventories experienced moderate fluctuation initially, decreasing from 811 million in 2020 to 598 million in 2021, but thereafter increased markedly to 1,918 million by 2024. This trend indicates a buildup of completed products awaiting sale, particularly from 2022 onwards.
- Inventories (Total)
- Total inventories, aggregating raw materials, work in process, and finished goods, have shown a substantial increase from 1,955 million in 2020 to 4,527 million in 2024. The growth accelerated notably after 2021, with the highest increases observed between 2022 and 2024. This overall increase suggests higher capital tied up in inventory assets, which may reflect strategic stockpiling, increased production, or demand anticipation.
In summary, the data indicates robust growth in inventory levels across all categories, with work in process and finished goods contributing most significantly to the increase. The slight decline in raw material inventory in the final year may imply improved material usage or purchasing adjustments. The upward trend in inventories warrants attention as it impacts working capital management and operational efficiency.