Stock Analysis on Net
Stock Analysis on Net

Texas Instruments Inc. (NASDAQ:TXN)

Common-Size Balance Sheet: Assets 
Quarterly Data

Texas Instruments Inc., common-size consolidated balance sheet: assets (quarterly data)

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Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Cash and cash equivalents 8.18 9.01 7.33 7.82 7.12 9.16 8.11 11.12 15.32 11.21 12.16 15.38 13.87 18.77 24.33 17.71 12.43 16.06 15.50 24.61 14.57
Short-term investments 6.64 12.33 17.45 19.82 22.67 17.35 20.17 19.76 17.34 22.12 22.72 18.55 25.00 20.70 17.70 18.16 21.61 17.89 14.81 3.82 12.87
Accounts receivable, net of allowances 5.51 4.84 5.27 4.88 4.79 5.52 6.25 6.32 6.42 6.97 7.83 8.86 7.10 6.89 7.10 7.72 8.07 7.31 7.65 6.74 7.61
Raw materials 1.16 1.11 1.11 1.16 1.20 1.30 1.27 1.25 1.29 1.30 1.28 1.23 1.05 0.99 0.96 0.98 0.93 0.93 1.05 1.04 1.01
Work in process 7.02 6.24 5.89 5.91 6.10 6.52 6.79 6.82 6.33 5.68 5.17 5.09 4.55 4.32 4.44 4.83 4.99 4.98 5.27 5.60 5.29
Finished goods 5.70 5.40 5.16 4.65 4.41 4.54 4.30 3.98 3.63 3.15 2.78 2.57 2.55 2.42 2.60 3.20 3.70 4.19 5.06 5.60 5.28
Inventories 13.88% 12.75% 12.16% 11.72% 11.70% 12.36% 12.35% 12.05% 11.25% 10.13% 9.23% 8.89% 8.15% 7.74% 8.00% 9.01% 9.62% 10.10% 11.38% 12.24% 11.59%
Prepaid expenses and other current assets 4.54 3.38 2.72 3.66 3.73 2.35 0.84 0.90 1.07 1.11 0.91 1.08 1.31 1.36 1.23 1.65 1.25 1.56 1.52 1.24 1.44
Current assets 38.77% 42.32% 44.94% 47.90% 50.02% 46.75% 47.72% 50.14% 51.41% 51.53% 52.85% 52.76% 55.43% 55.46% 58.37% 54.25% 52.98% 52.91% 50.85% 48.66% 48.08%
Property, plant and equipment at cost 47.50 42.96 43.78 41.72 39.38 41.02 39.60 37.70 36.93 36.57 36.42 35.70 32.58 31.84 28.62 30.26 30.38 29.87 31.30 32.91 33.19
Accumulated depreciation -12.52 -11.00 -10.37 -9.84 -9.45 -10.11 -10.14 -10.15 -10.70 -11.30 -11.54 -11.71 -11.07 -11.01 -11.34 -12.41 -12.91 -12.98 -13.77 -14.56 -14.48
Property, plant and equipment 34.99% 31.96% 33.41% 31.88% 29.93% 30.91% 29.46% 27.55% 26.23% 25.27% 24.89% 23.99% 21.52% 20.83% 17.28% 17.85% 17.47% 16.89% 17.52% 18.35% 18.71%
Goodwill 12.92 12.28 12.35 12.45 12.50 13.48 13.79 14.10 14.93 16.03 16.74 17.64 17.26 17.68 18.74 21.17 22.21 22.54 23.96 25.00 25.24
Deferred tax assets 3.05 2.64 2.66 2.58 2.35 2.34 2.00 1.74 1.66 1.74 1.12 1.19 1.08 1.07 1.33 1.58 1.69 1.77 1.64 1.35 1.20
Capitalized software licenses 0.78 0.72 0.65 0.66 0.66 0.69 0.44 0.46 0.48 0.56 0.29 0.33 0.36 0.34 0.38 0.48 0.58 0.63 0.73 0.81 0.80
Overfunded retirement plans 0.71 0.66 0.52 0.48 0.48 0.53 0.52 0.59 0.65 0.69 1.05 1.20 1.52 1.59 1.08 1.23 1.20 1.27 1.25 1.28 1.24
Other long-term assets 8.78 9.43 5.47 4.05 4.05 5.29 6.08 5.41 4.64 4.17 3.07 2.90 2.84 3.03 2.82 3.43 3.88 3.98 4.05 4.55 4.73
Long-term assets 61.23% 57.68% 55.06% 52.10% 49.98% 53.25% 52.28% 49.86% 48.59% 48.47% 47.15% 47.24% 44.57% 44.54% 41.63% 45.75% 47.02% 47.09% 49.15% 51.34% 51.92%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets exhibited volatility over the periods, initially rising sharply to a peak of 24.61% in Q2 2020, then experiencing a declining trend with some fluctuations, reaching as low as 7.12% in Q1 2024 before a slight rebound to 8.18% by Q1 2025.
Short-term investments
The share of short-term investments showed considerable variation, dropping to 3.82% in Q2 2020, then increasing and peaking at 25% in Q1 2022. Following this peak, it gradually decreased to 6.64% by Q1 2025, indicating a cyclical pattern with an overall downward trend toward the latest period.
Accounts receivable, net of allowances
This category maintained relative stability, fluctuating between roughly 4.79% and 8.86% of total assets. It peaked during mid-2022 and then showed a gradual decline with a slight recovery by Q1 2025, suggesting consistent management of receivables with mild variability.
Raw materials
The percentage of raw materials in total assets remained fairly stable and low, fluctuating narrowly between 0.93% and 1.30% throughout the periods analyzed, indicating steady inventory management for raw materials.
Work in process
Work in process as a percentage of total assets showed a general upward trend, increasing from around 4.32% in Q4 2021 to a peak of approximately 7.02% in Q1 2025, reflecting potential accumulation or increased valuation of in-process inventory over time.
Finished goods
Finished goods initially declined from around 5.28% in Q1 2020 to a low near 2.42% in Q4 2021 but then exhibited a consistent upward trend toward 5.70% by Q1 2025, implying improved inventory turnover or stock accumulation in finished goods in recent periods.
Inventories (aggregate)
Total inventories declined from above 12% in early 2020 to a low near 7.74% in Q4 2021, then reversed course with a steady increase reaching 13.88% in Q1 2025, showcasing a cyclical inventory pattern and possible buildup of inventory assets towards the end of the timeline.
Prepaid expenses and other current assets
This item experienced fluctuations, with notable increases from 0.84% in Q3 2023 to 4.54% in Q1 2025, suggesting rising prepaid costs or other current asset holdings.
Current assets (aggregate)
Current assets as a percentage of total assets initially increased to over 58% in Q3 2021 but then exhibited a consistent decline thereafter, dropping to under 40% by Q1 2025. This reduction indicates a strategic shift potentially favoring longer-term asset holdings.
Property, plant and equipment at cost
The cost basis of property, plant, and equipment rose significantly from roughly 29.87% in Q4 2020 to a peak of 47.5% in Q1 2025, denoting substantial capital investment and asset accumulation in fixed assets over the period.
Accumulated depreciation
Accumulated depreciation as a negative percentage of total assets decreased in absolute value from around -14.56% in mid-2020 to about -10.11% by early 2023, before regaining a deeper negative level to approximately -12.52% by Q1 2025, reflecting aging assets with fluctuating depreciation timing.
Net property, plant and equipment
After accounting for accumulated depreciation, net PP&E increased from 16.89% of total assets in Q4 2020 to 34.99% in Q1 2025, illustrating sustained growth in the net fixed asset base.
Goodwill
Goodwill as a percentage of total assets displayed a downward trend from 25.24% in Q1 2020 to a low around 12.28-12.92% by Q1 2025, indicating possible impairment charges, disposals, or less acquisition activity.
Deferred tax assets
Deferred tax assets gradually increased from 1.20% to 3.05% of total assets between 2020 and Q1 2025, consistent with evolving tax positions or recognition of tax benefits over time.
Capitalized software licenses
Capitalized software licenses remained a small but slightly increasing component of assets, growing from 0.80% in early 2020 to 0.78% by Q1 2025, with modest fluctuations.
Overfunded retirement plans
This asset category declined gradually from roughly 1.59% in Q4 2021 to 0.71% by Q1 2025, signaling possible changes in pension funding status or actuarial assumptions.
Other long-term assets
Other long-term assets exhibited notable volatility, including an increase to as high as 9.43% in Q4 2023 followed by a decrease to 8.78% by Q1 2025, indicating variability in other asset holdings.
Long-term assets (aggregate)
The total percentage of long-term assets initially declined to about 41.63% in Q3 2021 but then rose steadily to exceed 61% by Q1 2025, demonstrating a strategic shift favoring investment in longer-term resources.