Stock Analysis on Net
Stock Analysis on Net

Texas Instruments Inc. (NASDAQ:TXN)

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Beginner level

Short-term Activity Ratios (Summary)

Texas Instruments Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Turnover Ratios
Inventory turnover 2.66 2.42 2.33 2.56 2.61 2.59 2.60 2.58 2.48 2.60 2.64 2.67 2.73 2.79 2.70 2.82 2.87
Receivables turnover 10.23 9.87 11.64 10.73 13.39 10.99 10.74 10.83 13.08 9.98 10.10 10.56 11.71 9.28 9.66 10.29 10.55
Payables turnover 12.51 12.20 12.17 14.12 13.45 13.29 13.13 11.53 11.52 11.19 11.20 11.13 11.47 12.37 11.67 12.13 12.95
Working capital turnover 1.84 1.94 2.16 2.38 2.17 2.20 2.87 2.69 2.81 2.23 1.93 2.28 2.31 2.46 2.52 2.53 2.57
Average No. Days
Average inventory processing period 137 151 157 143 140 141 140 141 147 140 138 137 134 131 135 129 127
Add: Average receivable collection period 36 37 31 34 27 33 34 34 28 37 36 35 31 39 38 35 35
Operating cycle 173 188 188 177 167 174 174 175 175 177 174 172 165 170 173 164 162
Less: Average payables payment period 29 30 30 26 27 27 28 32 32 33 33 33 32 30 31 30 28
Cash conversion cycle 144 158 158 151 140 147 146 143 143 144 141 139 133 140 142 134 134

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Texas Instruments Inc.’s inventory turnover ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Receivables turnover An activity ratio equal to revenue divided by receivables. Texas Instruments Inc.’s receivables turnover ratio deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Texas Instruments Inc.’s payables turnover ratio increased from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Texas Instruments Inc.’s working capital turnover ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Texas Instruments Inc.’s number of days of inventory outstanding improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Texas Instruments Inc.’s number of days of receivables outstanding deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020.
Operating cycle Equal to average inventory processing period plus average receivables collection period.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.

Inventory Turnover

Texas Instruments Inc., inventory turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Cost of revenue (COR) 1,430  1,364  1,157  1,241  1,253  1,325  1,308  1,333  1,310  1,457  1,398  1,342  1,310  1,460  1,319  1,258  1,281  1,395  1,270  1,184 
Inventories 1,955  2,072  2,136  2,003  2,001  2,040  2,079  2,131  2,217  2,116  2,090  2,032  1,957  1,908  1,947  1,843  1,790  1,808  1,876  1,805 
Short-term Activity Ratio
Inventory turnover1 2.66 2.42 2.33 2.56 2.61 2.59 2.60 2.58 2.48 2.60 2.64 2.67 2.73 2.79 2.70 2.82 2.87
Benchmarks
Inventory Turnover, Competitors2
Advanced Micro Devices Inc. 3.87 3.72 3.21 3.86 3.93 3.43 3.48 3.90 4.77 5.57 5.59 5.46 4.74 4.15 4.17 4.01 4.36
Analog Devices Inc. 3.14 3.12 3.23 3.28 3.24 3.10 3.29 3.35 3.35 3.55 3.93 3.92 3.71 3.56 2.28 3.39 3.17 3.04 2.98 2.96
Apple Inc. 41.75 42.55 49.75 40.54 39.40 47.95 32.79 32.41 41.39 26.55 19.92 33.31 29.05 43.69 46.66 49.45 61.62 72.80 60.04 57.40
Applied Materials Inc. 2.44 2.30 2.32 2.43 2.37 2.36 2.39 2.50 2.54 2.55 2.57 2.71 2.73 2.68 2.80 2.98 3.08 2.88 2.95 3.08
Broadcom Inc. 10.34 9.51 10.76 10.73 11.57 9.16 9.63 9.31 9.00 8.28 8.05 7.50 6.31 6.03 6.35 6.44 5.21 4.73 3.42 6.72
Cisco Systems Inc. 13.74 14.85 13.73 14.14 13.91 12.76 11.30 12.05 10.14 9.68 9.55 10.65 11.00 13.07 14.01 15.23 15.03 13.95 14.00 13.10
Intel Corp. 4.06 3.66 3.71 3.32 3.41 3.35 3.20 3.57 3.74 3.51 3.44 3.41 3.39 3.42 3.70 4.01 4.18
Lam Research Corp. 2.86 3.11 3.42 3.51 3.44 3.49 3.44 3.12 3.15 3.27 3.42 3.63 3.58 3.51 3.48 3.55 3.36 3.49 3.76 3.50
Micron Technology Inc. 2.65 2.66 2.62 2.67 2.48 2.55 2.88 3.29 3.48 3.63 3.81 3.79 3.81 3.75 3.65 3.76 3.42 3.39 3.89 4.33
NVIDIA Corp. 4.24 3.88 3.50 3.04 2.89 3.29 4.10 5.32 4.89 4.26 3.98 3.75 3.59 3.81 4.49 5.72 5.26 5.03 4.80 4.75
Qualcomm Inc. 3.56 3.67 5.08 6.00 6.14 5.26 5.63 5.75 6.05 5.63 5.59 5.35 4.81 4.83 4.71 5.06 6.27 7.07 6.57 8.11

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).

1 Q4 2020 Calculation
Inventory turnover = (Cost of revenue (COR)Q4 2020 + Cost of revenue (COR)Q3 2020 + Cost of revenue (COR)Q2 2020 + Cost of revenue (COR)Q1 2020) ÷ Inventories
= (1,430 + 1,364 + 1,157 + 1,241) ÷ 1,955 = 2.66

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Texas Instruments Inc.’s inventory turnover ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Receivables Turnover

Texas Instruments Inc., receivables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Revenue 4,076  3,817  3,239  3,329  3,350  3,771  3,668  3,594  3,717  4,261  4,017  3,789  3,750  4,116  3,693  3,402  3,414  3,675  3,273  3,008 
Accounts receivable, net of allowances 1,414  1,392  1,176  1,316  1,074  1,342  1,419  1,440  1,207  1,585  1,551  1,454  1,278  1,576  1,469  1,337  1,267  1,447  1,348  1,269 
Short-term Activity Ratio
Receivables turnover1 10.23 9.87 11.64 10.73 13.39 10.99 10.74 10.83 13.08 9.98 10.10 10.56 11.71 9.28 9.66 10.29 10.55
Benchmarks
Receivables Turnover, Competitors2
Advanced Micro Devices Inc. 4.73 4.05 4.27 4.28 3.62 4.32 4.41 4.92 5.24 5.42 5.84 8.12 13.32 6.43 7.52 8.96 13.74
Analog Devices Inc. 7.60 8.10 9.42 9.85 9.43 8.91 9.09 8.72 9.69 8.65 7.91 7.95 7.41 6.60 6.35 7.70 7.16 7.50 8.50 9.15
Apple Inc. 17.03 15.31 17.04 12.77 11.35 18.31 17.14 14.47 11.45 18.10 17.27 10.20 12.82 18.03 19.04 15.52 13.69 18.81 18.61 18.14
Applied Materials Inc. 5.81 5.80 5.88 5.61 5.77 6.27 6.97 6.87 6.73 5.97 6.19 7.09 6.22 6.14 5.44 5.00 4.75 5.34 5.00 5.88
Broadcom Inc. 10.40 8.64 7.13 6.21 6.93 6.29 6.26 5.80 6.27 6.73 7.15 7.66 7.20 7.00 7.84 8.02 6.07 5.02 4.79 6.57
Cisco Systems Inc. 9.01 11.07 11.91 10.66 9.45 13.52 13.57 11.08 8.88 11.38 12.14 11.36 9.33 10.47 10.90 10.18 8.42 12.22 11.53 10.53
Intel Corp. 11.48 10.94 10.61 8.96 9.40 10.23 11.29 10.18 10.54 12.69 14.29 13.12 11.19 10.43 11.43 12.29 12.66
Lam Research Corp. 4.79 4.39 4.70 5.80 6.63 6.84 5.82 5.92 5.09 4.94 4.19 5.79 4.79 4.41 4.47 4.59 4.66 4.71 5.41 5.24
Micron Technology Inc. 5.48 5.62 6.43 6.04 7.33 8.28 6.79 5.81 5.55 5.72 5.83 5.97 5.41 4.98 5.10 5.31 6.00 6.17 6.92 6.73
NVIDIA Corp. 6.59 6.89 6.52 8.64 8.23 5.60 7.15 9.00 7.68 7.69 6.88 7.73 8.37 7.37 8.45 9.87 9.92 9.07 9.30 10.39

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).

1 Q4 2020 Calculation
Receivables turnover = (RevenueQ4 2020 + RevenueQ3 2020 + RevenueQ2 2020 + RevenueQ1 2020) ÷ Accounts receivable, net of allowances
= (4,076 + 3,817 + 3,239 + 3,329) ÷ 1,414 = 10.23

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Texas Instruments Inc.’s receivables turnover ratio deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020.

Payables Turnover

Texas Instruments Inc., payables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Cost of revenue (COR) 1,430  1,364  1,157  1,241  1,253  1,325  1,308  1,333  1,310  1,457  1,398  1,342  1,310  1,460  1,319  1,258  1,281  1,395  1,270  1,184 
Accounts payable 415  411  409  363  388  397  412  477  478  492  492  488  466  430  450  429  396  428  416  387 
Short-term Activity Ratio
Payables turnover1 12.51 12.20 12.17 14.12 13.45 13.29 13.13 11.53 11.52 11.19 11.20 11.13 11.47 12.37 11.67 12.13 12.95
Benchmarks
Payables Turnover, Competitors2
Advanced Micro Devices Inc. 11.57 6.38 5.30 6.25 3.91 4.67 4.27 7.70 7.63 8.09 8.06 8.56 9.13 6.98 7.19 6.36 7.44
Analog Devices Inc. 8.42 8.85 9.83 9.12 8.78 8.99 9.60 8.92 7.54 9.27 10.15 9.83 8.65 8.10 7.77 7.90 6.97 7.44 7.19 8.67
Apple Inc. 4.01 4.79 5.12 3.68 3.50 5.53 5.26 3.65 2.93 4.09 4.45 2.34 2.88 4.31 4.75 3.48 3.52 5.06 5.46 4.22
Broadcom Inc. 12.41 9.41 8.33 10.28 11.83 10.04 13.13 13.55 12.47 12.82 11.89 11.87 8.26 7.45 9.00 8.22 5.79 5.48 5.10 6.29
Cisco Systems Inc. 7.94 7.52 9.60 9.43 9.34 9.55 11.62 10.49 9.83 11.85 17.08 15.60 12.84 14.65 18.51 17.98 17.32 18.60 19.82 17.35
Intel Corp. 6.14 6.58 6.59 6.61 7.23 6.01 5.94 6.84 7.09 7.23 6.10 5.52 8.09 6.66 6.37 7.23 9.37
Lam Research Corp. 9.18 10.43 11.56 12.52 14.06 13.60 17.03 15.23 11.57 8.78 12.24 10.22 9.49 8.41 7.96 9.45 9.38 8.73 14.33 12.60
NVIDIA Corp. 6.04 6.87 9.66 11.77 8.89 5.16 5.58 6.81 6.53 7.15 7.90 8.85 5.87 4.95 5.53 7.05 7.43 7.25 7.64 9.38
Qualcomm Inc. 4.12 4.21 4.19 4.96 6.29 5.88 5.82 6.87 5.61 6.11 6.91 5.94 4.97 6.42 7.54 5.86 5.25 6.02 6.46 7.26

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).

1 Q4 2020 Calculation
Payables turnover = (Cost of revenue (COR)Q4 2020 + Cost of revenue (COR)Q3 2020 + Cost of revenue (COR)Q2 2020 + Cost of revenue (COR)Q1 2020) ÷ Accounts payable
= (1,430 + 1,364 + 1,157 + 1,241) ÷ 415 = 12.51

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Texas Instruments Inc.’s payables turnover ratio increased from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Working Capital Turnover

Texas Instruments Inc., working capital turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Current assets 10,239  9,259  8,488  8,310  8,761  8,713  7,956  7,951  8,097  9,468  9,592  8,590  8,734  7,991  7,511  7,040  7,457  7,181  6,689  6,659 
Less: Current liabilities 2,390  2,185  2,163  2,381  2,123  2,007  2,646  2,159  2,474  2,382  1,466  1,860  2,258  2,055  1,877  1,602  2,264  2,170  1,991  2,420 
Working capital 7,849  7,074  6,325  5,929  6,638  6,706  5,310  5,792  5,623  7,086  8,126  6,730  6,476  5,936  5,634  5,438  5,193  5,011  4,698  4,239 
 
Revenue 4,076  3,817  3,239  3,329  3,350  3,771  3,668  3,594  3,717  4,261  4,017  3,789  3,750  4,116  3,693  3,402  3,414  3,675  3,273  3,008 
Short-term Activity Ratio
Working capital turnover1 1.84 1.94 2.16 2.38 2.17 2.20 2.87 2.69 2.81 2.23 1.93 2.28 2.31 2.46 2.52 2.53 2.57
Benchmarks
Working Capital Turnover, Competitors2
Advanced Micro Devices Inc. 2.62 2.80 2.86 3.01 3.01 2.94 3.01 3.19 4.16 4.55 5.30 5.69 4.69 4.47 4.35 3.93 3.61
Analog Devices Inc. 4.86 6.92 11.81 40.91 12.57 11.74 8.72 5.48 8.78 7.90 7.95 5.99 6.76 4.20 1.92 0.57 0.82 0.84 0.86 0.85
Apple Inc. 7.16 6.12 5.62 4.38 4.56 5.72 8.74 8.04 18.35 9.38 6.07 8.54 8.24 7.08 7.70 11.36 7.74 9.89 11.77 1,850.30
Applied Materials Inc. 1.93 2.04 1.94 2.42 2.54 2.38 2.44 2.58 2.58 2.62 2.25 1.79 1.65 1.66 1.63 2.24 2.29 2.23 2.32 2.08
Broadcom Inc. 4.32 3.32 3.00 5.19 7.49 8.51 10.03 9.45 3.08 3.11 1.90 2.04 1.33 2.19 2.53 2.99 3.27 3.30 2.20 2.24
Cisco Systems Inc. 2.70 3.29 2.87 3.04 3.24 2.65 2.15 1.72 1.42 1.26 0.95 0.87 0.86 0.85 0.80 0.82 0.92 0.91 0.95 0.96
Intel Corp. 3.46 5.32 3.60 4.30 8.06 14.39 7.38 6.98 5.83 6.91 6.60 5.49 5.20 4.98 2.83 4.10 3.91
Lam Research Corp. 1.31 1.32 1.62 1.49 1.56 1.57 2.10 2.33 1.85 1.59 1.66 1.38 1.29 1.18 1.09 0.83 0.87 1.27 1.33 1.35
Micron Technology Inc. 1.89 1.73 1.93 2.10 2.31 2.79 3.26 3.20 2.95 2.92 2.67 2.98 2.85 2.96 3.11 3.29 2.66 2.28 3.13 3.34
NVIDIA Corp. 0.92 0.92 1.01 1.14 1.27 1.27 1.27 1.32 1.20 1.20 1.19 1.06 1.02 0.98 1.45 1.51 1.35 0.98 1.02 0.96
Qualcomm Inc. 2.39 2.62 4.47 3.50 3.10 3.03 3.66 3.75 3.70 0.81 0.69 0.77 0.68 1.26 3.44 3.05 1.50 1.61 1.72 1.73

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).

1 Q4 2020 Calculation
Working capital turnover = (RevenueQ4 2020 + RevenueQ3 2020 + RevenueQ2 2020 + RevenueQ1 2020) ÷ Working capital
= (4,076 + 3,817 + 3,239 + 3,329) ÷ 7,849 = 1.84

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Texas Instruments Inc.’s working capital turnover ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Average Inventory Processing Period

Texas Instruments Inc., average inventory processing period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data
Inventory turnover 2.66 2.42 2.33 2.56 2.61 2.59 2.60 2.58 2.48 2.60 2.64 2.67 2.73 2.79 2.70 2.82 2.87
Short-term Activity Ratio (no. days)
Average inventory processing period1 137 151 157 143 140 141 140 141 147 140 138 137 134 131 135 129 127
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Advanced Micro Devices Inc. 94 98 114 94 93 106 105 93 77 66 65 67 77 88 88 91 84
Analog Devices Inc. 116 117 113 111 113 118 111 109 109 103 93 93 98 103 160 108 115 120 122 123
Apple Inc. 9 9 7 9 9 8 11 11 9 14 18 11 13 8 8 7 6 5 6 6
Applied Materials Inc. 150 159 157 150 154 155 153 146 144 143 142 135 134 136 130 122 119 127 124 119
Broadcom Inc. 35 38 34 34 32 40 38 39 41 44 45 49 58 61 57 57 70 77 107 54
Cisco Systems Inc. 27 25 27 26 26 29 32 30 36 38 38 34 33 28 26 24 24 26 26 28
Intel Corp. 90 100 98 110 107 109 114 102 98 104 106 107 108 107 99 91 87
Lam Research Corp. 128 117 107 104 106 105 106 117 116 112 107 101 102 104 105 103 109 105 97 104
Micron Technology Inc. 138 137 139 137 147 143 127 111 105 100 96 96 96 97 100 97 107 108 94 84
NVIDIA Corp. 86 94 104 120 126 111 89 69 75 86 92 97 102 96 81 64 69 73 76 77
Qualcomm Inc. 102 99 72 61 59 69 65 63 60 65 65 68 76 75 78 72 58 52 56 45

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).

1 Q4 2020 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 2.66 = 137

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Texas Instruments Inc.’s number of days of inventory outstanding improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Average Receivable Collection Period

Texas Instruments Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data
Receivables turnover 10.23 9.87 11.64 10.73 13.39 10.99 10.74 10.83 13.08 9.98 10.10 10.56 11.71 9.28 9.66 10.29 10.55
Short-term Activity Ratio (no. days)
Average receivable collection period1 36 37 31 34 27 33 34 34 28 37 36 35 31 39 38 35 35
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Advanced Micro Devices Inc. 77 90 85 85 101 84 83 74 70 67 63 45 27 57 49 41 27
Analog Devices Inc. 48 45 39 37 39 41 40 42 38 42 46 46 49 55 57 47 51 49 43 40
Apple Inc. 21 24 21 29 32 20 21 25 32 20 21 36 28 20 19 24 27 19 20 20
Applied Materials Inc. 63 63 62 65 63 58 52 53 54 61 59 52 59 59 67 73 77 68 73 62
Broadcom Inc. 35 42 51 59 53 58 58 63 58 54 51 48 51 52 47 46 60 73 76 56
Cisco Systems Inc. 41 33 31 34 39 27 27 33 41 32 30 32 39 35 34 36 43 30 32 35
Intel Corp. 32 33 34 41 39 36 32 36 35 29 26 28 33 35 32 30 29
Lam Research Corp. 76 83 78 63 55 53 63 62 72 74 87 63 76 83 82 80 78 78 67 70
Micron Technology Inc. 67 65 57 60 50 44 54 63 66 64 63 61 68 73 72 69 61 59 53 54
NVIDIA Corp. 55 53 56 42 44 65 51 41 48 47 53 47 44 50 43 37 37 40 39 35

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).

1 Q4 2020 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 10.23 = 36

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Texas Instruments Inc.’s number of days of receivables outstanding deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020.

Operating Cycle

Texas Instruments Inc., operating cycle calculation (quarterly data)

No. days

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data
Average inventory processing period 137 151 157 143 140 141 140 141 147 140 138 137 134 131 135 129 127
Average receivable collection period 36 37 31 34 27 33 34 34 28 37 36 35 31 39 38 35 35
Short-term Activity Ratio
Operating cycle1 173 188 188 177 167 174 174 175 175 177 174 172 165 170 173 164 162
Benchmarks
Operating Cycle, Competitors2
Advanced Micro Devices Inc. 171 188 199 179 194 190 188 167 147 133 128 112 104 145 137 132 111
Analog Devices Inc. 164 162 152 148 152 159 151 151 147 145 139 139 147 158 217 155 166 169 165 163
Apple Inc. 30 33 28 38 41 28 32 36 41 34 39 47 41 28 27 31 33 24 26 26
Applied Materials Inc. 213 222 219 215 217 213 205 199 198 204 201 187 193 195 197 195 196 195 197 181
Broadcom Inc. 70 80 85 93 85 98 96 102 99 98 96 97 109 113 104 103 130 150 183 110
Cisco Systems Inc. 68 58 58 60 65 56 59 63 77 70 68 66 72 63 60 60 67 56 58 63
Intel Corp. 122 133 132 151 146 145 146 138 133 133 132 135 141 142 131 121 116
Lam Research Corp. 204 200 185 167 161 158 169 179 188 186 194 164 178 187 187 183 187 183 164 174
Micron Technology Inc. 205 202 196 197 197 187 181 174 171 164 159 157 164 170 172 166 168 167 147 138
NVIDIA Corp. 141 147 160 162 170 176 140 110 123 133 145 144 146 146 124 101 106 113 115 112

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).

1 Q4 2020 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 137 + 36 = 173

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period.

Average Payables Payment Period

Texas Instruments Inc., average payables payment period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data
Payables turnover 12.51 12.20 12.17 14.12 13.45 13.29 13.13 11.53 11.52 11.19 11.20 11.13 11.47 12.37 11.67 12.13 12.95
Short-term Activity Ratio (no. days)
Average payables payment period1 29 30 30 26 27 27 28 32 32 33 33 33 32 30 31 30 28
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Advanced Micro Devices Inc. 32 57 69 58 93 78 85 47 48 45 45 43 40 52 51 57 49
Analog Devices Inc. 43 41 37 40 42 41 38 41 48 39 36 37 42 45 47 46 52 49 51 42
Apple Inc. 91 76 71 99 104 66 69 100 125 89 82 156 127 85 77 105 104 72 67 86
Broadcom Inc. 29 39 44 36 31 36 28 27 29 28 31 31 44 49 41 44 63 67 72 58
Cisco Systems Inc. 46 49 38 39 39 38 31 35 37 31 21 23 28 25 20 20 21 20 18 21
Intel Corp. 59 55 55 55 51 61 61 53 51 51 60 66 45 55 57 51 39
Lam Research Corp. 40 35 32 29 26 27 21 24 32 42 30 36 38 43 46 39 39 42 25 29
NVIDIA Corp. 60 53 38 31 41 71 65 54 56 51 46 41 62 74 66 52 49 50 48 39
Qualcomm Inc. 89 87 87 74 58 62 63 53 65 60 53 61 73 57 48 62 70 61 57 50

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).

1 Q4 2020 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 12.51 = 29

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.

Cash Conversion Cycle

Texas Instruments Inc., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data
Average inventory processing period 137 151 157 143 140 141 140 141 147 140 138 137 134 131 135 129 127
Average receivable collection period 36 37 31 34 27 33 34 34 28 37 36 35 31 39 38 35 35
Average payables payment period 29 30 30 26 27 27 28 32 32 33 33 33 32 30 31 30 28
Short-term Activity Ratio
Cash conversion cycle1 144 158 158 151 140 147 146 143 143 144 141 139 133 140 142 134 134
Benchmarks
Cash Conversion Cycle, Competitors2
Advanced Micro Devices Inc. 139 131 130 121 101 112 103 120 99 88 83 69 64 93 86 75 62
Analog Devices Inc. 121 121 115 108 110 118 113 110 99 106 103 102 105 113 170 109 114 120 114 121
Apple Inc. -61 -43 -43 -61 -63 -38 -37 -64 -84 -55 -43 -109 -86 -57 -50 -74 -71 -48 -41 -60
Broadcom Inc. 41 41 41 57 54 62 68 75 70 70 65 66 65 64 63 59 67 83 111 52
Cisco Systems Inc. 22 9 20 21 26 18 28 28 40 39 47 43 44 38 40 40 46 36 40 42
Intel Corp. 63 78 77 96 95 84 85 85 82 82 72 69 96 87 74 70 77
Lam Research Corp. 164 165 153 138 135 131 148 155 156 144 164 128 140 144 141 144 148 141 139 145
NVIDIA Corp. 81 94 122 131 129 105 75 56 67 82 99 103 84 72 58 49 57 63 67 73

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).

1 Q4 2020 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 137 + 3629 = 144

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.