Texas Instruments Inc.

TXN · Nasdaq · ·

下次财报：2026年10月20日

US$281.79+1.3%9月29日收盘

1M: +9.0%
6M: +52.7%
1Y: +57.3%
5Y: +62.1%

对比

Designs and manufactures chips used inside electronic equipment.

Technology

Semiconductors

基于 Texas Instruments Inc. 自己向 SEC 提交的申报文件。数字如实呈报，每股历史已重述到今天的股数口径。这是对一门生意的描述——不是投资建议，也不是买卖任何证券的推荐。

完整财务报表 →

关于Texas Instruments Inc.

Texas Instruments makes semiconductor chips that help electronic equipment manage electrical power, handle signals such as sound or temperature, and process data. Its chips are used in industrial equipment, cars, data centers, personal electronics and communications equipment. It sells mainly through its own sales channels, including its website, and also through distributors.

总部: Dallas, Texas
成立于: 1930
员工人数: about 33,000 (December 31, 2025, medium)
上市于: NASDAQ
财年结束: December 31

怎么赚钱

Analog chips81%
Embedded Processing chips15%

各项收入占比是对quarter ended 2026-03-31的估算，并非来自已提交报告的数字。

竞争对手

卖什么6

Power chips
Chips that regulate, convert, distribute or measure electrical power in equipment, including battery-powered devices.
Signal-chain chips
Chips that sense and measure real-world signals, such as temperature or light, and amplify, change or pass those signals to other parts of a device.
Microcontrollers
Small computers inside equipment, combining a processor, memory and other parts to control specific tasks.

再显示 3 项

Processors
Chips designed to carry out particular kinds of computing in electronic equipment.
Wireless connectivity and radar chips
Chips that provide wireless connections or process radar signals, including for equipment and vehicles.
DLP products, calculators and custom chips
DLP products are used mainly to project high-definition images; the company also sells calculators and custom chips called application-specific integrated circuits.

谁在买1

Electronics designers and manufacturers buy chips for use in their products across industrial equipment, automotive, data centers, personal electronics and communications equipment. They can buy directly from Texas Instruments, including through its website, or through distributors; more than 80% of revenue was direct in 2025 (2025, high).

靠什么支撑，什么会击垮它

业务依赖什么

1Sales depend on demand for electronic equipment and on customer and distributor inventories, which can rise or fall with the semiconductor supply-and-demand cycle.
2The company makes most of its chips in factories it owns, so production depends on its factories, manufacturing equipment and the time and capital needed to add capacity.
3It also uses outside chip-making and assembly suppliers to supplement its own production, and buys materials and parts from suppliers around the world.

与同行业相比处在什么位置

三项评分，每一项都是相对我们在Semiconductors覆盖的 72 家公司的百分位。刻意分开而不揉成一个总分：便宜、上涨和经营得好是三件不同的事，一个数字会把它们是哪一件藏起来。

动量

40在同行业中满分 100

处于同行业中游

截至一个月前的 12 个月31.0%

截至一个月前的 6 个月23.2%

最近一个月被刻意剔除：回报往往在 7 到 12 个月内延续，而最新的一个月往往反转。这描述的是股价已经走过的路，不说明它接下来会怎么走。

估值

55在同行业中满分 100

处于同行业中游

每单位价格对应的利润2.35%

每单位价格对应的现金2.08%

每单位价格对应的营收7.56%

每单位价格对应的资产6.32%

整个企业对应的经营利润2.97%

这些是收益率，所以数值越高越便宜——亏损的公司会排在最后，而不是被剔除。便宜不等于好：高收益率往往意味着股价是有原因才跌下来的。五项指标齐全。

资本配置

4/5大体克制

1 项检验未披露

资本回报率17.4%

股东回报率2.52%

股本数量，3 年-1.4%

净债务 / EBITDA1.25x

内部人，12 个月-US$28.3M

管理层怎么使用这笔钱——只按财报能回答的部分计分，绝不按占总数的比例计分。

六项资本配置检验

投入资金的回报投入资本回报 17.4%
债务与盈利之比净债务为经营利润的 1.25 倍
回馈给股东的现金每年 2.5% 用于回购和分红
三年间的股本数量三年间股本数量减少 1.4%
现金流对派付的覆盖派付多于赚取
内部人在公开市场的买入净卖出 US$28.3M——不计入扣分

这是对该公司在同行中所处位置的描述，不是投资建议。评分更新于 2026年9月30日。

可能出什么问题

1The semiconductor cycle can bring periods of excess customer or distributor inventory and weaker demand, reducing orders for the company's chips.
2Much of the company's manufacturing cost is fixed; if factory output falls, those costs are spread over fewer chips. Large factory and equipment investments also expose it to the cost and timing of adding capacity.
3A disruption at company factories or at outside suppliers could interrupt chip production. The company operates manufacturing sites across several regions and depends on a global supplier network.