Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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Texas Instruments Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
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Texas Instruments Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
Operating cash flows demonstrate a period of volatility characterized by a peak in 2021 and 2022, followed by a contraction in 2023 and 2024, and a projected recovery through 2026. Net income followed a similar trajectory, declining from highs of approximately 2.3 billion US$ per quarter to lows around 1.1 billion US$ before trending upward again toward 2 billion US$ by mid-2026.
- Operating Efficiency and Non-Cash Adjustments
- A consistent and significant upward trend is observed in depreciation expenses, which rose from 179 million US$ in early 2021 to 547 million US$ by June 2026. This steady increase indicates a substantial expansion of the company's fixed asset base. Stock-based compensation also showed a general increase over the period, though it remained more volatile than depreciation.
- Capital Investment and Strategic Funding
- Capital expenditures accelerated sharply between 2021 and 2023, peaking at 1.495 billion US$ in September 2023. This aggressive investment phase transitioned into a moderation period, with expenditures falling to 514 million US$ by June 2026. Notably, starting in March 2025, the cash flow from investing activities began to be offset by proceeds from U.S. CHIPS and Science Act incentives, with significant inflows reaching 555 million US$ in late 2025 and 549 million US$ in mid-2026.
- Shareholder Returns and Financing Strategy
- Dividend payments exhibit a disciplined and steady increase, growing from approximately 940 million US$ per quarter in 2021 to nearly 1.3 billion US$ per quarter by 2026. Stock repurchases have been opportunistic and inconsistent, peaking in 2022 before declining sharply in 2023 and 2024. To support these outflows and capital investments, the company utilized long-term debt issuance, specifically noting a substantial 2.98 billion US$ inflow in March 2024.
- Working Capital and Liquidity Management
- Working capital movements have been a primary source of volatility in operating cash flows. Significant outflows related to inventories were observed throughout 2022 and 2023, suggesting a buildup of stock. Short-term investments were used actively as a liquidity tool, with frequent and large-scale purchases and proceeds alternating to balance quarterly cash requirements.
The overall financial trajectory indicates a transition from a high-growth investment phase funded by debt and internal cash to a recovery phase supported by government incentives and improved net income. The combination of rising depreciation and tapering capital expenditures suggests that the heavy investment cycle is maturing, while the commitment to increasing dividends remains a constant priority.