COMPANY DOSSIER · Prepared October 9, 2026 · Public sources only
Texas Instruments Incorporated (Nasdaq: TXN)
BOTTOM LINE. TI, whose principal executive offices are at 12500 TI Boulevard in Dallas (75243), just south of Richardson [8K917], is coming off a strong Q2 2026: revenue was $5.46B (+23% y/y) and gross margin 61.4%. It guided Q3 revenue to $5.65–6.15B and announced a 7% dividend raise. The main things to watch are the Oct. 21 earnings call (per news reports), the debt-financed $7.5B Silicon Labs deal pending into 2027, CFO turnover (new CFO since Aug. 1), and a heavy reliance on China (about 50% of 2025 revenue shipped into China). [Q2PR] [DIV] [10K]
1. Overview
| Legal name | TEXAS INSTRUMENTS INC |
| SEC CIK | 0000097476 |
| Industry (SIC) | Semiconductors & Related Devices |
| Principal executive offices | 12500 TI Boulevard, Dallas, TX 75243 [8K917] (SEC mailing address: P.O. BOX 660199) |
| Segments | Analog (Power, Signal Chain); Embedded Processing (MCUs, processors); Other (DLP, calculators) [10Q] |
| Employees | About 33,000 worldwide at Dec. 31, 2025 [10K] |
Quarterly revenue (10-Q quarters, XBRL)
2024-03$3.66B
2024-06$3.82B
2024-09$4.15B
2025-03$4.07B
2025-06$4.45B
2025-09$4.74B
2026-03$4.83B
2026-06$5.46B
Q4 quarters are reported only inside annual 10-K totals, so they're not shown. Source [XBRL]
2. Leadership (as listed in filings)
| Name | Role per filing | Notes |
|---|---|---|
| Haviv Ilan | Director, Chairman, President & CEO | [10K] |
| Julie Knecht | SVP & Chief Financial Officer (Chief Accounting Officer), effective Aug. 1, 2026 | Previously VP & Chief Accounting Officer since 2021 [CFO] |
| Rafael Lizardi | Former SVP & CFO | Retiring after 25 years [CFO] |
| Katie (Katharine) Kane | SVP, Secretary & General Counsel | [10K] |
| Hagop Kozanian | SVP | Retirement effective Aug. 31, 2026 [KOZ] |
| Other executive officers listed as SVPs in the 10-K: Ahmad Bahai, Mark Gary, Shanon Leonard, Mark Roberts, Amichai Ron, Christine Witzsche, Mohammad Yunus. [10K] | ||
3. Financial snapshot: Q2 2026 (three months ended June 30), in $ millions
| Income statement | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | 5,463 | 4,448 | +23% |
| Gross profit | 3,352 | 2,575 | +30% |
| Gross margin | 61.4% | 57.9% | +3.5 pts |
| Operating profit | 2,310 | 1,563 | +48% |
| Net income | 1,980 | 1,295 | +53% |
| Diluted EPS ($) | 2.14 | 1.41 | +52% |
| Analog revenue | 4,365 | 3,452 | +26% |
| Embedded Processing revenue | 788 | 679 | +16% |
Source [10Q]. The change column is our arithmetic, except gross margin, which is as stated in the filing.
| Balance sheet | Jun 30, 2026 | Dec 31, 2025 |
|---|---|---|
| Cash & cash equivalents | 3,660 | 3,225 |
| Short-term investments | 3,341 | 1,656 |
| Inventories | 4,605 | 4,804 |
| Total assets | 35,882 | 34,585 |
| Current portion of long-term debt | 1,149 | 500 |
| Long-term debt | 12,903 | 13,548 |
| Total stockholders’ equity | 18,007 | 16,273 |
Source [10Q]
| Cash flow (six months) | H1 2026 | H1 2025 |
|---|---|---|
| Cash from operations | 4,223 | 2,709 |
| Capital expenditures | (1,190) | (2,428) |
| CHIPS Act incentive proceeds | 1,104 | 260 |
| Dividends paid | (2,586) | (2,473) |
| Stock repurchases | (185) | (955) |
4. Recent events timeline
| Date | Event | Source |
|---|---|---|
| 2026-01-27 | 8-K Item 2.02: Q4 2025 results furnished | [SUB] |
| 2026-02-04 | Definitive agreement to buy Silicon Labs for $231.00/share in cash (≈$7.5B enterprise value); 8-K Item 7.01 | [10Q] |
| 2026-02-06 | 2025 Form 10-K filed | [10K] |
| 2026-03-25 | SVP Hagop Kozanian announces retirement effective Aug. 31, 2026 | [KOZ] |
| 2026-04-17 | 8-K Item 5.07: annual meeting vote results | [SUB] |
| 2026-04-22 | 8-K Item 2.02: Q1 2026 results | [SUB] |
| 2026-06-02 | Julie Knecht named SVP & CFO effective Aug. 1, 2026, succeeding retiring CFO Rafael Lizardi | [CFO] |
| 2026-07-22 | Q2 2026 results: revenue $5.46B (+23% y/y); Q3 outlook revenue $5.65–6.15B, EPS $2.23–2.57 | [Q2PR] |
| 2026-07-24 | Q2 2026 Form 10-Q filed | [10Q] |
| 2026-09-17 | Quarterly dividend to rise 7% to $1.52 ($6.08 annualized); payable Nov. 10 to holders of record Oct. 30, pending board declaration | [DIV] |
| 2026-09-27 | Press coverage of the dividend raise | Texas Instruments Extends Dividend Growth Streak to 23 Years with 7% Raise - Yahoo Finance [Google News RSS → Yahoo Finance] |
| 2026-10-01 | TI to webcast its Q3 2026 earnings call | Texas Instruments to webcast Q3 2026 earnings conference call - Investing News Network [Google News RSS → Investing News Network] |
| 2026-10-06 | Reports set the Q3 call for Oct. 21 C2 | Texas Instruments stock heads toward its October 21 earnings call - AD HOC NEWS [Google News RSS → AD HOC NEWS] |
| 2026-10-07 | Shares fell more than the market C2 | Texas Instruments (TXN) Registers a Bigger Fall Than the Market: Important Facts to Note - Yahoo Finance [Google News RSS → Yahoo Finance] |
5. Legal & regulatory items found
- Litigation: TI says it is involved in “various inquiries and proceedings” arising in the ordinary course of business and does not expect a material adverse effect. It uses a $1 million disclosure threshold for environmental proceedings involving a government authority. [10K] [10Q] We found no specific named case in the filings reviewed.
- Merger review: The Silicon Labs deal is subject to regulatory approvals and is expected to close in the first half of 2027. [10Q]
- Trade and export controls: In 2025, China was about 20% of revenue, and products shipped into China were about 50% of revenue. TI flags tariffs, export restrictions and sanctions as risk factors. [10K]
- Government incentives: TI received $1,104M in CHIPS Act incentive proceeds in the first half of 2026, which keeps it tied to the program's compliance terms. [10Q]
- Not included in this report: PACER federal dockets, Texas state court records, EPA ECHO enforcement data. These are planned additions to the full product.
6. Risks
- China and trade-policy exposure: about half of 2025 revenue came from products shipped into China [10K].
- Acquisition and leverage: about $14.05B of total debt at June 30 ($12,903M long-term plus $1,149M current), and the Silicon Labs deal will be funded partly with new debt [10Q].
- Capacity costs: gross profit gains were partly offset by higher manufacturing costs tied to planned capacity expansions [10Q].
- Management transition: new CFO since Aug. 1 and an SVP retirement on Aug. 31 [CFO] [KOZ].
- Valuation sentiment (opinion, not fact): some commentary calls the shares overvalued C3 Texas Instruments (TXN) Stock Could Be 17% Overvalued Despite Q2 Revenue Jump - Simply Wall Street [Google News RSS → Simply Wall Street]
- Regional competition for chip talent (unverified): reports that TSMC may evaluate Texas sites, possibly near Dallas C3 X: TSMC Eyes New Chip Factories in Texas to Boost U.S. Production [X via x connector]
7. Key judgments
MODERATE CONFIDENCE
KJ1. TI will likely (55–80%) report Q3 2026 revenue within its guided $5.65B–$6.15B range when it reports, reportedly on Oct. 21.
Basis: The guidance is the company's own. Q2 was up 13% sequentially. Signposts: industrial and data-center demand comments from peers, and the earnings date confirmation. [Q2PR]
HIGH CONFIDENCE
KJ2. The board will very likely (80–95%) formally declare the $1.52 quarterly dividend in October.
MODERATE CONFIDENCE
KJ3. The Silicon Labs acquisition will almost certainly (95–99%) still be pending at year-end 2026. Financing it will likely add debt.
Basis: The company expects closing in H1 2027 and plans to fund it with cash on hand plus debt. Long-term debt was $12.9B, plus $1.1B current, at June 30. [10Q]
MODERATE CONFIDENCE
KJ4. The 2026 CFO and SVP changes are unlikely (20–45%) to signal accounting or control problems.
Basis: The 8-K says the CFO's retirement is unrelated to any disagreement. The successor is a 25-year TI veteran who was Chief Accounting Officer. Key assumption: the 8-K language is complete. [CFO]
8. What to watch
- Oct. 21 (reported): Q3 results against the $5.65–6.15B guide; Q4 outlook; China commentary.
- October board meeting: formal declaration of the $1.52 dividend (record date Oct. 30).
- Silicon Labs: regulatory clearances, any new debt issuance (look for 8-K Items 1.01 and 2.03).
- Any new 8-K Item 5.02 (further leadership changes).
- Next 10-Q (Q3) for updated legal-proceedings language.
Sources
- [10Q] TI Form 10-Q for quarter ended June 30, 2026 (filed Jul. 24, 2026): https://www.sec.gov/Archives/edgar/data/97476/000009747626000152/txn-20260630.htm
- [10K] TI Form 10-K for 2025 (filed Feb. 6, 2026): https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm
- [Q2PR] TI Q2 2026 earnings release, Ex. 99 to 8-K (Jul. 22, 2026): https://www.sec.gov/Archives/edgar/data/97476/000009747626000148/q22026txnex99-eredgar.htm
- [DIV] TI dividend release, Ex. 99 to 8-K (Sept. 17, 2026): https://www.sec.gov/Archives/edgar/data/97476/000095010326014118/dp253473_ex99.htm
- [CFO] TI 8-K Item 5.02 (Jun. 2, 2026): https://www.sec.gov/Archives/edgar/data/97476/000095010326008325/dp247795_8k.htm
- [8K917] TI 8-K cover page (Sept. 17, 2026): https://www.sec.gov/Archives/edgar/data/97476/000095010326014118/dp253473_8k.htm
- [KOZ] TI 8-K Item 5.02 (Mar. 25, 2026): https://www.sec.gov/Archives/edgar/data/97476/000119312526124057/d136885d8k.htm
- [SUB] SEC submissions index for TI (CIK 97476): https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000097476&type=&dateb=&owner=include&count=40
- [XBRL] SEC XBRL companyfacts API, TI: https://data.sec.gov/api/xbrl/companyfacts/CIK0000097476.json