Intrinsic value of Texas Instruments - TXN

Previous Close

$108.49

  Intrinsic Value

$120.80

stock screener

  Rating & Target

hold

+11%

Previous close

$108.49

 
Intrinsic value

$120.80

 
Up/down potential

+11%

 
Rating

hold

We calculate the intrinsic value of TXN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 106.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.80
  8.42
  8.08
  7.77
  7.49
  7.24
  7.02
  6.82
  6.64
  6.47
  6.32
  6.19
  6.07
  5.97
  5.87
  5.78
  5.70
  5.63
  5.57
  5.51
  5.46
  5.42
  5.37
  5.34
  5.30
  5.27
  5.25
  5.22
  5.20
  5.18
Revenue, $m
  16,278
  17,648
  19,074
  20,556
  22,096
  23,697
  25,360
  27,089
  28,887
  30,756
  32,702
  34,727
  36,836
  39,033
  41,324
  43,714
  46,207
  48,810
  51,529
  54,370
  57,340
  60,445
  63,694
  67,093
  70,651
  74,376
  78,278
  82,365
  86,647
  91,134
Variable operating expenses, $m
  3,664
  3,926
  4,200
  4,484
  4,780
  5,086
  5,406
  5,737
  6,082
  6,440
  6,272
  6,660
  7,065
  7,486
  7,925
  8,384
  8,862
  9,361
  9,883
  10,427
  10,997
  11,593
  12,216
  12,867
  13,550
  14,264
  15,013
  15,796
  16,618
  17,478
Fixed operating expenses, $m
  5,708
  5,833
  5,962
  6,093
  6,227
  6,364
  6,504
  6,647
  6,793
  6,943
  7,096
  7,252
  7,411
  7,574
  7,741
  7,911
  8,085
  8,263
  8,445
  8,631
  8,820
  9,015
  9,213
  9,416
  9,623
  9,834
  10,051
  10,272
  10,498
  10,729
Total operating expenses, $m
  9,372
  9,759
  10,162
  10,577
  11,007
  11,450
  11,910
  12,384
  12,875
  13,383
  13,368
  13,912
  14,476
  15,060
  15,666
  16,295
  16,947
  17,624
  18,328
  19,058
  19,817
  20,608
  21,429
  22,283
  23,173
  24,098
  25,064
  26,068
  27,116
  28,207
Operating income, $m
  6,906
  7,888
  8,912
  9,979
  11,090
  12,246
  13,451
  14,705
  16,011
  17,373
  19,334
  20,815
  22,360
  23,973
  25,658
  27,419
  29,260
  31,186
  33,202
  35,312
  37,522
  39,838
  42,265
  44,810
  47,478
  50,278
  53,214
  56,296
  59,531
  62,927
EBITDA, $m
  8,095
  9,132
  10,213
  11,338
  12,510
  13,731
  15,001
  16,324
  17,702
  19,138
  20,635
  22,196
  23,825
  25,526
  27,302
  29,158
  31,098
  33,128
  35,252
  37,475
  39,803
  42,243
  44,799
  47,479
  50,289
  53,236
  56,328
  59,573
  62,978
  66,552
Interest expense (income), $m
  0
  220
  253
  286
  321
  358
  396
  435
  476
  518
  563
  609
  656
  706
  758
  812
  868
  927
  988
  1,052
  1,119
  1,189
  1,262
  1,338
  1,418
  1,501
  1,589
  1,680
  1,776
  1,877
  1,982
Earnings before tax, $m
  6,686
  7,636
  8,626
  9,657
  10,732
  11,851
  13,016
  14,229
  15,493
  16,810
  18,726
  20,159
  21,654
  23,215
  24,846
  26,551
  28,333
  30,198
  32,150
  34,193
  36,334
  38,576
  40,927
  43,392
  45,977
  48,689
  51,534
  54,520
  57,654
  60,945
Tax expense, $m
  1,805
  2,062
  2,329
  2,607
  2,898
  3,200
  3,514
  3,842
  4,183
  4,539
  5,056
  5,443
  5,847
  6,268
  6,708
  7,169
  7,650
  8,153
  8,680
  9,232
  9,810
  10,416
  11,050
  11,716
  12,414
  13,146
  13,914
  14,720
  15,567
  16,455
Net income, $m
  4,881
  5,574
  6,297
  7,050
  7,834
  8,651
  9,501
  10,387
  11,310
  12,272
  13,670
  14,716
  15,807
  16,947
  18,138
  19,382
  20,683
  22,045
  23,469
  24,961
  26,524
  28,161
  29,877
  31,676
  33,563
  35,543
  37,620
  39,800
  42,088
  44,490

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  16,245
  17,613
  19,036
  20,515
  22,052
  23,649
  25,309
  27,035
  28,829
  30,695
  32,636
  34,657
  36,762
  38,955
  41,242
  43,626
  46,115
  48,713
  51,426
  54,262
  57,225
  60,325
  63,567
  66,959
  70,510
  74,228
  78,122
  82,200
  86,474
  90,952
Adjusted assets (=assets-cash), $m
  16,245
  17,613
  19,036
  20,515
  22,052
  23,649
  25,309
  27,035
  28,829
  30,695
  32,636
  34,657
  36,762
  38,955
  41,242
  43,626
  46,115
  48,713
  51,426
  54,262
  57,225
  60,325
  63,567
  66,959
  70,510
  74,228
  78,122
  82,200
  86,474
  90,952
Revenue / Adjusted assets
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
Average production assets, $m
  5,827
  6,318
  6,828
  7,359
  7,910
  8,483
  9,079
  9,698
  10,341
  11,011
  11,707
  12,432
  13,187
  13,974
  14,794
  15,649
  16,542
  17,474
  18,447
  19,465
  20,528
  21,639
  22,802
  24,019
  25,293
  26,627
  28,023
  29,487
  31,019
  32,626
Working capital, $m
  2,735
  2,965
  3,204
  3,453
  3,712
  3,981
  4,260
  4,551
  4,853
  5,167
  5,494
  5,834
  6,188
  6,558
  6,942
  7,344
  7,763
  8,200
  8,657
  9,134
  9,633
  10,155
  10,701
  11,272
  11,869
  12,495
  13,151
  13,837
  14,557
  15,311
Total debt, $m
  4,680
  5,303
  5,952
  6,627
  7,328
  8,056
  8,813
  9,600
  10,418
  11,269
  12,154
  13,076
  14,036
  15,036
  16,078
  17,166
  18,300
  19,485
  20,722
  22,015
  23,367
  24,780
  26,258
  27,805
  29,425
  31,120
  32,895
  34,755
  36,704
  38,746
Total liabilities, $m
  7,408
  8,031
  8,680
  9,355
  10,056
  10,784
  11,541
  12,328
  13,146
  13,997
  14,882
  15,804
  16,764
  17,764
  18,806
  19,894
  21,028
  22,213
  23,450
  24,743
  26,095
  27,508
  28,986
  30,533
  32,153
  33,848
  35,623
  37,483
  39,432
  41,474
Total equity, $m
  8,837
  9,581
  10,355
  11,160
  11,996
  12,865
  13,768
  14,707
  15,683
  16,698
  17,754
  18,854
  19,999
  21,192
  22,435
  23,733
  25,087
  26,500
  27,976
  29,518
  31,131
  32,817
  34,580
  36,426
  38,357
  40,380
  42,498
  44,717
  47,042
  49,478
Total liabilities and equity, $m
  16,245
  17,612
  19,035
  20,515
  22,052
  23,649
  25,309
  27,035
  28,829
  30,695
  32,636
  34,658
  36,763
  38,956
  41,241
  43,627
  46,115
  48,713
  51,426
  54,261
  57,226
  60,325
  63,566
  66,959
  70,510
  74,228
  78,121
  82,200
  86,474
  90,952
Debt-to-equity ratio
  0.530
  0.550
  0.570
  0.590
  0.610
  0.630
  0.640
  0.650
  0.660
  0.670
  0.680
  0.690
  0.700
  0.710
  0.720
  0.720
  0.730
  0.740
  0.740
  0.750
  0.750
  0.760
  0.760
  0.760
  0.770
  0.770
  0.770
  0.780
  0.780
  0.780
Adjusted equity ratio
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  4,881
  5,574
  6,297
  7,050
  7,834
  8,651
  9,501
  10,387
  11,310
  12,272
  13,670
  14,716
  15,807
  16,947
  18,138
  19,382
  20,683
  22,045
  23,469
  24,961
  26,524
  28,161
  29,877
  31,676
  33,563
  35,543
  37,620
  39,800
  42,088
  44,490
Depreciation, amort., depletion, $m
  1,189
  1,244
  1,301
  1,359
  1,421
  1,484
  1,551
  1,619
  1,691
  1,765
  1,301
  1,381
  1,465
  1,553
  1,644
  1,739
  1,838
  1,942
  2,050
  2,163
  2,281
  2,404
  2,534
  2,669
  2,810
  2,959
  3,114
  3,276
  3,447
  3,625
Funds from operations, $m
  6,070
  6,818
  7,597
  8,409
  9,255
  10,135
  11,052
  12,006
  13,001
  14,037
  14,971
  16,097
  17,273
  18,500
  19,781
  21,121
  22,521
  23,986
  25,519
  27,124
  28,804
  30,565
  32,411
  34,345
  36,374
  38,501
  40,734
  43,076
  45,534
  48,115
Change in working capital, $m
  221
  230
  240
  249
  259
  269
  279
  290
  302
  314
  327
  340
  354
  369
  385
  401
  419
  437
  457
  477
  499
  522
  546
  571
  598
  626
  655
  687
  719
  754
Cash from operations, $m
  5,849
  6,587
  7,358
  8,160
  8,996
  9,866
  10,772
  11,716
  12,699
  13,723
  14,644
  15,757
  16,918
  18,130
  19,396
  20,719
  22,102
  23,549
  25,062
  26,646
  28,306
  30,043
  31,865
  33,774
  35,776
  37,875
  40,078
  42,389
  44,815
  47,361
Maintenance CAPEX, $m
  -596
  -647
  -702
  -759
  -818
  -879
  -943
  -1,009
  -1,078
  -1,149
  -1,223
  -1,301
  -1,381
  -1,465
  -1,553
  -1,644
  -1,739
  -1,838
  -1,942
  -2,050
  -2,163
  -2,281
  -2,404
  -2,534
  -2,669
  -2,810
  -2,959
  -3,114
  -3,276
  -3,447
New CAPEX, $m
  -465
  -491
  -510
  -531
  -551
  -573
  -595
  -619
  -644
  -669
  -696
  -725
  -755
  -787
  -820
  -855
  -893
  -932
  -973
  -1,017
  -1,063
  -1,112
  -1,163
  -1,217
  -1,274
  -1,334
  -1,397
  -1,463
  -1,533
  -1,606
Cash from investing activities, $m
  -1,061
  -1,138
  -1,212
  -1,290
  -1,369
  -1,452
  -1,538
  -1,628
  -1,722
  -1,818
  -1,919
  -2,026
  -2,136
  -2,252
  -2,373
  -2,499
  -2,632
  -2,770
  -2,915
  -3,067
  -3,226
  -3,393
  -3,567
  -3,751
  -3,943
  -4,144
  -4,356
  -4,577
  -4,809
  -5,053
Free cash flow, $m
  4,788
  5,449
  6,145
  6,871
  7,627
  8,414
  9,234
  10,088
  10,978
  11,904
  12,724
  13,731
  14,782
  15,878
  17,024
  18,220
  19,471
  20,779
  22,147
  23,580
  25,080
  26,651
  28,297
  30,023
  31,833
  33,731
  35,723
  37,813
  40,006
  42,308
Issuance/(repayment) of debt, $m
  603
  624
  649
  674
  701
  728
  757
  787
  818
  851
  885
  922
  960
  1,000
  1,043
  1,087
  1,135
  1,185
  1,237
  1,293
  1,351
  1,413
  1,478
  1,547
  1,619
  1,695
  1,775
  1,860
  1,949
  2,042
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  603
  624
  649
  674
  701
  728
  757
  787
  818
  851
  885
  922
  960
  1,000
  1,043
  1,087
  1,135
  1,185
  1,237
  1,293
  1,351
  1,413
  1,478
  1,547
  1,619
  1,695
  1,775
  1,860
  1,949
  2,042
Total cash flow (excl. dividends), $m
  5,390
  6,073
  6,794
  7,546
  8,328
  9,143
  9,991
  10,875
  11,796
  12,755
  13,609
  14,653
  15,742
  16,879
  18,066
  19,308
  20,606
  21,963
  23,385
  24,873
  26,431
  28,064
  29,776
  31,570
  33,452
  35,427
  37,498
  39,672
  41,954
  44,350
Retained Cash Flow (-), $m
  -711
  -744
  -774
  -805
  -836
  -869
  -903
  -939
  -976
  -1,015
  -1,056
  -1,099
  -1,145
  -1,193
  -1,244
  -1,297
  -1,354
  -1,413
  -1,476
  -1,542
  -1,612
  -1,686
  -1,764
  -1,845
  -1,932
  -2,023
  -2,118
  -2,219
  -2,325
  -2,436
Prev. year cash balance distribution, $m
  2,211
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  6,890
  5,329
  6,020
  6,741
  7,492
  8,274
  9,088
  9,936
  10,820
  11,740
  12,553
  13,553
  14,597
  15,685
  16,822
  18,010
  19,252
  20,550
  21,908
  23,330
  24,819
  26,378
  28,012
  29,725
  31,521
  33,404
  35,380
  37,454
  39,630
  41,914
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  6,606
  4,878
  5,239
  5,550
  5,807
  6,005
  6,140
  6,211
  6,215
  6,155
  5,961
  5,784
  5,550
  5,266
  4,939
  4,577
  4,189
  3,785
  3,373
  2,965
  2,567
  2,189
  1,836
  1,514
  1,226
  975
  759
  579
  433
  316
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Texas Instruments Incorporated designs, makes and sells semiconductors to electronics designers and manufacturers across the world. The Company operates through two segments: Analog and Embedded Processing. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries. The Company's Analog segment's product line includes High Volume Analog & Logic (HVAL), Power Management (Power), High Performance Analog (HPA) and Silicon Valley Analog (SVA). HVAL products support applications, such as automotive safety devices, touchscreen controllers, low-voltage motor drivers and integrated motor controllers. The Company's Embedded Processing segment's product line includes Processor, Microcontrollers and Connectivity. Processor products include digital signal processors (DSPs) and applications processors. DSPs perform mathematical computations to process digital data.

FINANCIAL RATIOS  of  Texas Instruments (TXN)

Valuation Ratios
P/E Ratio 30.1
Price to Sales 8.1
Price to Book 10.3
Price to Tangible Book
Price to Cash Flow 23.4
Price to Free Cash Flow 26.5
Growth Rates
Sales Growth Rate 2.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -3.6%
Cap. Spend. - 3 Yr. Gr. Rate 5.2%
Financial Strength
Quick Ratio 6
Current Ratio 0
LT Debt to Equity 28.4%
Total Debt to Equity 34.5%
Interest Coverage 0
Management Effectiveness
Return On Assets 22%
Ret/ On Assets - 3 Yr. Avg. 18.4%
Return On Total Capital 25.5%
Ret/ On T. Cap. - 3 Yr. Avg. 21.4%
Return On Equity 35.2%
Return On Equity - 3 Yr. Avg. 30.4%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 61.6%
Gross Margin - 3 Yr. Avg. 58.9%
EBITDA Margin 44%
EBITDA Margin - 3 Yr. Avg. 41.4%
Operating Margin 35.9%
Oper. Margin - 3 Yr. Avg. 33%
Pre-Tax Margin 36.9%
Pre-Tax Margin - 3 Yr. Avg. 33%
Net Profit Margin 26.9%
Net Profit Margin - 3 Yr. Avg. 23.8%
Effective Tax Rate 27.1%
Eff/ Tax Rate - 3 Yr. Avg. 27.8%
Payout Ratio 45.8%

TXN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TXN stock intrinsic value calculation we used $14961 million for the last fiscal year's total revenue generated by Texas Instruments. The default revenue input number comes from 0001 income statement of Texas Instruments. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TXN stock valuation model: a) initial revenue growth rate of 8.8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for TXN is calculated based on our internal credit rating of Texas Instruments, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Texas Instruments.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TXN stock the variable cost ratio is equal to 22.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $5585 million in the base year in the intrinsic value calculation for TXN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Texas Instruments.

Corporate tax rate of 27% is the nominal tax rate for Texas Instruments. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TXN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TXN are equal to 35.8%.

Life of production assets of 9 years is the average useful life of capital assets used in Texas Instruments operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TXN is equal to 16.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $10337 million for Texas Instruments - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 978.918 million for Texas Instruments is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Texas Instruments at the current share price and the inputted number of shares is $106.2 billion.

RELATED COMPANIES Price Int.Val. Rating
ADI Analog Devices 95.10 168.02  str.buy
MXIM Maxim Integrat 59.58 15.99  str.sell
ON ON Semiconduct 19.50 29.83  buy
NXPI NXP Semiconduc 93.89 35.85  str.sell
MCHP Microchip Tech 83.38 43.53  sell
INTC Intel 47.20 41.31  hold
STM STMicroelectro 19.06 746.43  str.buy

COMPANY NEWS

▶ After-hours buzz: MU, UNFI & more   [Sep-20-18 04:49PM  CNBC]
▶ Battle of Dividends: Texas Instruments vs. Home Depot   [Sep-17-18 07:46PM  Motley Fool]
▶ Texas Instruments CEO, wife donate $5M to SMU to spur local tech talent   [Sep-14-18 12:35PM  American City Business Journals]
▶ Which Apple Suppliers Win, and Lose, From New iPhones   [Sep-13-18 11:20AM  Barrons.com]
▶ How To Trade Growth Stocks: This Should Happen In Every Great Breakout   [Sep-12-18 07:30PM  Investor's Business Daily]
▶ Texas Instruments Falls 3.24%   [01:10PM  Investing.com]
▶ To prep for Hurricane Florence, investors sell off insurers   [Sep-11-18 05:24PM  Associated Press]
▶ Did Ted Cruz forget how important silicon is to Texas?   [Sep-10-18 11:32AM  MarketWatch]
▶ 3 Tech Giants With Growing Dividends   [Sep-07-18 05:03PM  Motley Fool]
▶ 3 Dividend-Paying Blue Chip Tech Stocks to Buy Now   [Sep-05-18 01:55PM  InvestorPlace]
▶ 2 Companies About to Increase Their Dividends   [Sep-04-18 07:23PM  Motley Fool]
▶ Better Buy: NVIDIA vs. Texas Instruments   [08:18AM  Motley Fool]
▶ Dont Underestimate These 3 Mature Tech Stocks   [Aug-26-18 03:00PM  Motley Fool]
▶ Texas Instruments considering Richardson for $3.2B manufacturing facility   [Aug-22-18 01:45PM  American City Business Journals]
▶ 3 Tech Stocks for Dividend Investors to Buy Now   [Aug-21-18 03:51PM  Zacks]
▶ 10 Dividend Aristocrats You Never Have to Worry About   [Aug-17-18 03:38PM  InvestorPlace]
▶ Does Tax-Net SA (WSE:TXN) Go Up With The Market?   [Aug-15-18 08:59AM  Simply Wall St.]
▶ Texas Instruments Is Ready to Breakout but Wait For It   [Aug-13-18 03:35PM  TheStreet.com]
▶ Texas Instruments Falls 3.09%   [Aug-10-18 01:06PM  Investing.com]
▶ Which Stocks Are The Best Mutual Funds Buying? Here's The Latest List   [Aug-07-18 04:05PM  Investor's Business Daily]
▶ [$$] Big Pay, Short Stays for Hardware Chiefs   [Aug-05-18 07:42PM  The Wall Street Journal]
▶ [$$] Big Pay, Short Stays for Hardware Chiefs   [Aug-04-18 09:50AM  The Wall Street Journal]
▶ Better Buy: Intel Corporation vs. Texas Instruments   [Jul-29-18 02:00PM  Motley Fool]
▶ Pairing Up Semiconductor Stocks: TXN and INTC Trades   [Jul-26-18 11:20AM  InvestorPlace]
▶ Texas Instruments -- Nothing to See Here   [01:13PM  The Wall Street Journal]
▶ Texas Instruments' Templeton 'fully engaged' in CEO role again   [07:49AM  American City Business Journals]
▶ [$$] Texas Instruments Forecasts Strong Third Quarter   [Jul-24-18 08:07PM  The Wall Street Journal]
▶ [$$] Texas Instruments Forecasts Strong Third Quarter   [05:33PM  The Wall Street Journal]
▶ Texas Instruments: 2Q Earnings Snapshot   [04:15PM  Associated Press]
▶ 3 Tech Stocks for Dividend Investors to Buy Now   [Jul-20-18 02:50PM  Zacks]
▶ 4 Top Stocks in Semiconductors   [10:22AM  Motley Fool]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.