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TXN FY2025 Q3 В пределах ожиданий

Отчётный звонок Texas Instruments Incorporated

Oct 21, 2025 · 11:30 ET Haviva LahnMike BeckmanRafael Lizardi earningscall_biz
Вывод Buzzberg

Moderate recovery expected; customers in wait-and-see mode

TI reported Q3 revenue of $4.7B (+14% YoY) and EPS of $1.48. The recovery continues at a slower pace; Q4 guidance is seasonally down on lower loadings and higher depreciation. Data center is a fast-growing segment, reaching ~$1.2B run rate. Management emphasized free cash flow growth and long-term positioning. Q3 revenue $4.7B, EPS $1.48 (includes $0.10 restructuring charge).

Вывод Buzzberg Moderate recovery expected; customers in wait-and-see mode TI reported Q3 revenue of $4.7B (+14% YoY) and EPS of $1.48. The recovery continues at a slower pace; Q4 guidance is seasonally down on lower loadings and higher depreciation. Data center is a fast-growing segment, reaching ~$1.2B run rate. Management emphasized free cash flow growth and long-term positioning. Q3 revenue $4.7B, EPS $1.48 (includes $0.10 restructuring charge). Читать полный анализСвернуть анализ

TI reported Q3 revenue of $4.7B (+14% YoY) and EPS of $1.48. The recovery continues at a slower pace; Q4 guidance is seasonally down on lower loadings and higher depreciation. Data center is a fast-growing segment, reaching ~$1.2B run rate. Management emphasized free cash flow growth and long-term positioning. Q3 revenue $4.7B, EPS $1.48 (includes $0.10 restructuring charge).

  • Q4 guidance: revenue $4.22-4.58B, EPS $1.13-1.39; loadings cut to maintain inventory.
  • Industrial up 25% YoY, auto up high-single-digits, data center growing >50% YoY.
  • Inventory at $4.8B (215 days), flat QoQ; management comfortable with level.
Выручка$4.742BФакт
EPS$1.48Факт
Валовая маржа57.42%Факт
Операционная маржа35.07%Факт
6 подтверждённых тезисов

Что важно сейчас

Самые значимые изменения по итогам звонка.

01
Demand

Moderate recovery expected; customers in wait-and-see mode

02
Demand

Data center growth strong; to be broken out as market

03
Supply

Lower wafer starts to keep inventory flat to down

Показать ещё 3 тезиса
04
Supply

Inventory target reached; high service level achieved

05
Capital Allocation

Free cash flow per share growth is key focus

06
Demand

China returned to normal; no repeat of pull-forward

Отчётный период

Фактические результаты

ПоказательФактИзменение
Выручка$4.742BФакт
EPS$1.48Факт
Валовая маржа57.42%Факт
Операционная маржа35.07%Факт
Свободный денежный поток$0.993BФакт
Капзатраты$1.197BФакт
Прогнозные данные

Прогноз компании

ПоказательПериодДиапазонСерединаСтатус
EPSFY2025 Q4$1.13–$1.39$1.26Обозначен
ВыручкаFY2025 Q4$4.22B–$4.58B$4.4BОбозначен
AI, капзатраты и спрос

Оценка менеджмента

Тон

Measured

Management described a moderate, slower-than-typical recovery with customer hesitancy, but expressed confidence in their inventory and capacity positioning.

Капзатраты

Инвестиции и мощности

Management reaffirmed its 2025-2026 capex framework of $20-26 billion, but noted the probability of being lower is more likely given the moderate recovery. They continue to invest in new fabs in Sherman, Utah, and Lehigh, while winding down 150mm fabs, and expect to be at the lower end of capex if the recovery stays moderate.

Методология и полнота

Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 0. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.