Return on Equity (ROE)
since 2005
Calculation
Texas Instruments Inc., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 30.73% | = | 100 | × | 5,001) | ÷ | 16,273) |
| Dec 31, 2024 | 28.39% | = | 100 | × | 4,799) | ÷ | 16,903) |
| Dec 31, 2023 | 38.53% | = | 100 | × | 6,510) | ÷ | 16,897) |
| Dec 31, 2022 | 60.02% | = | 100 | × | 8,749) | ÷ | 14,577) |
| Dec 31, 2021 | 58.27% | = | 100 | × | 7,769) | ÷ | 13,333) |
| Dec 31, 2020 | 60.90% | = | 100 | × | 5,595) | ÷ | 9,187) |
| Dec 31, 2019 | 56.33% | = | 100 | × | 5,017) | ÷ | 8,907) |
| Dec 31, 2018 | 62.04% | = | 100 | × | 5,580) | ÷ | 8,994) |
| Dec 31, 2017 | 35.62% | = | 100 | × | 3,682) | ÷ | 10,337) |
| Dec 31, 2016 | 34.33% | = | 100 | × | 3,595) | ÷ | 10,473) |
| Dec 31, 2015 | 30.02% | = | 100 | × | 2,986) | ÷ | 9,946) |
| Dec 31, 2014 | 27.15% | = | 100 | × | 2,821) | ÷ | 10,390) |
| Dec 31, 2013 | 20.01% | = | 100 | × | 2,162) | ÷ | 10,807) |
| Dec 31, 2012 | 16.05% | = | 100 | × | 1,759) | ÷ | 10,961) |
| Dec 31, 2011 | 20.42% | = | 100 | × | 2,236) | ÷ | 10,952) |
| Dec 31, 2010 | 30.93% | = | 100 | × | 3,228) | ÷ | 10,437) |
| Dec 31, 2009 | 15.12% | = | 100 | × | 1,470) | ÷ | 9,722) |
| Dec 31, 2008 | 20.59% | = | 100 | × | 1,920) | ÷ | 9,326) |
| Dec 31, 2007 | 26.64% | = | 100 | × | 2,657) | ÷ | 9,975) |
| Dec 31, 2006 | 38.21% | = | 100 | × | 4,341) | ÷ | 11,360) |
| Dec 31, 2005 | 19.47% | = | 100 | × | 2,324) | ÷ | 11,937) |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The Return on Equity (ROE) for the period between 2005 and 2025 demonstrates considerable fluctuation, generally trending upwards with notable peaks and subsequent corrections. Initial values indicate a strong performance, followed by periods of relative stability and then significant increases in later years.
- Overall Trend
- From 2005 to 2025, the ROE experienced a generally increasing trajectory, although not consistently. The period began with a value of 19.47% in 2005, rose dramatically to 38.21% in 2006, and then fluctuated before exhibiting a substantial surge towards the end of the analyzed timeframe. A period of relative stability is observed between 2011 and 2013, followed by a renewed upward trend.
- Early Period (2005-2009)
- The initial five-year period shows significant volatility. The ROE peaked in 2006 at 38.21%, representing a substantial increase from the prior year. Subsequent years (2007-2009) saw a decline, reaching a low of 15.12% in 2009. This decrease coincided with a period of economic uncertainty and potentially impacted profitability.
- Mid-Period (2010-2014)
- From 2010 to 2014, the ROE demonstrated a recovery and stabilization. It rose to 30.93% in 2010, followed by a period of fluctuation between approximately 16% and 30%. This suggests a period of consistent, though not exceptional, profitability. The ROE reached 27.15% in 2014.
- Recent Period (2015-2025)
- The period from 2015 to 2025 is characterized by a strong upward trend, with ROE values consistently above 30% for much of the period. A peak of 62.04% was reached in 2018, followed by a slight decrease in 2019, but then a further increase to 60.90% in 2020. The ROE remained high in 2021 and 2022, at 58.27% and 60.02% respectively, before declining to 38.53% in 2023 and 30.73% in 2025. This recent decline may warrant further investigation.
- Relationship to Equity
- While net income generally increased over the period, the fluctuations in ROE were also influenced by changes in stockholders’ equity. Periods of decreasing equity, such as between 2005 and 2007, contributed to higher ROE values when net income remained relatively stable. Conversely, increases in equity, particularly from 2020 onwards, moderated the ROE despite rising net income.
In conclusion, the ROE demonstrates a pattern of strong performance with periods of volatility. The recent high values suggest efficient utilization of equity to generate profits, but the decline in the final two years of the analyzed period indicates a potential shift in performance that may require further scrutiny.
Comparison to Competitors
Texas Instruments Inc., ROE, long-term trends, comparison to competitors
| Texas Instruments Inc. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 30.73% | 6.88% | 6.70% | 34.28% | 28.45% | -0.23% | 86.56% | 54.33% | 15.76% | 91.87% | 26.13% |
| Dec 31, 2024 | 28.39% | 2.85% | 4.65% | 37.77% | 8.71% | -18.89% | 82.00% | 44.82% | 1.72% | 69.24% | 38.60% |
| Dec 31, 2023 | 38.53% | 1.53% | 9.32% | 41.94% | 58.70% | 1.60% | 116.01% | 54.94% | -13.22% | 19.76% | 33.51% |
| Dec 31, 2022 | 60.02% | 2.41% | 7.54% | 53.51% | 50.62% | 7.90% | 237.04% | 73.35% | 17.41% | 36.65% | 71.81% |
| Dec 31, 2021 | 58.27% | 42.18% | 3.66% | 48.08% | 26.99% | 20.83% | 61.53% | 64.85% | 13.34% | 25.64% | 90.88% |
| Dec 31, 2020 | 60.90% | 42.66% | 10.17% | 34.21% | 12.40% | 25.79% | 45.65% | 43.53% | 6.89% | 22.91% | 85.54% |
| Dec 31, 2019 | 56.33% | 12.06% | 11.64% | 32.94% | 10.92% | 27.16% | 44.21% | 46.89% | 17.59% | 44.33% | 89.35% |
| Dec 31, 2018 | 62.04% | 26.62% | 13.61% | 48.44% | 45.99% | 28.24% | 49.51% | 36.62% | 43.77% | 40.78% | -524.14% |
| Dec 31, 2017 | 35.62% | 7.04% | 7.16% | 36.73% | 8.34% | 13.91% | 69.82% | 24.90% | 27.33% | 28.91% | 8.02% |
| Dec 31, 2016 | 34.33% | -119.47% | 16.68% | 23.85% | -9.20% | 15.58% | 102.22% | 15.51% | -2.28% | 13.74% | 17.95% |
| Dec 31, 2015 | 30.02% | — | 13.74% | 18.09% | 28.94% | 18.70% | 86.88% | 12.85% | 23.57% | 14.27% | 16.78% |
| Dec 31, 2014 | 27.15% | -215.51% | 13.23% | 13.62% | 8.11% | 20.95% | 15.88% | 12.57% | 28.27% | 9.87% | 20.34% |
| Dec 31, 2013 | 20.01% | -15.26% | 14.21% | 3.61% | 19.13% | 16.51% | 15.60% | 2.54% | 13.02% | 11.65% | 18.99% |
| Dec 31, 2012 | 16.05% | -219.89% | 15.63% | 1.51% | 23.27% | 21.49% | 22.80% | 3.29% | -13.40% | 14.02% | 18.22% |
| Dec 31, 2011 | 20.42% | 30.88% | 22.85% | 21.89% | 27.52% | 28.19% | 27.77% | 29.30% | 1.97% | 7.96% | 15.81% |
| Dec 31, 2010 | 30.93% | 46.50% | 22.25% | 12.44% | 27.57% | 23.19% | 9.45% | 19.61% | 23.07% | -2.55% | 15.57% |
| Dec 31, 2009 | 15.12% | 46.91% | 9.80% | -4.30% | -4.23% | 10.48% | -23.96% | -20.79% | -39.43% | -1.25% | 7.84% |
| Dec 31, 2008 | 20.59% | — | 32.49% | 12.73% | — | 13.54% | 12.04% | 24.70% | -26.21% | 30.47% | 17.61% |
| Dec 31, 2007 | 26.64% | -113.01% | 21.25% | 21.87% | — | 16.31% | 14.88% | 58.30% | -4.13% | 22.36% | 20.86% |
| Dec 31, 2006 | 38.21% | -2.87% | 15.99% | 22.80% | — | 13.72% | 10.66% | 24.05% | 5.03% | 20.76% | 18.42% |
| Dec 31, 2005 | 19.47% | 4.94% | 11.24% | 13.55% | — | 23.95% | 15.33% | 28.06% | 3.22% | 8.52% | 19.27% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
Texas Instruments Inc., ROE, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Texas Instruments Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Dec 31, 2025 | 30.73% | — |
| Dec 31, 2024 | 28.39% | 11.77% |
| Dec 31, 2023 | 38.53% | 13.30% |
| Dec 31, 2022 | 60.02% | 22.70% |
| Dec 31, 2021 | 58.27% | 25.79% |
| Dec 31, 2020 | 60.90% | 24.53% |
| Dec 31, 2019 | 56.33% | 26.83% |
| Dec 31, 2018 | 62.04% | 33.43% |
| Dec 31, 2017 | 35.62% | 16.95% |
| Dec 31, 2016 | 34.33% | 13.42% |
| Dec 31, 2015 | 30.02% | 19.06% |
| Dec 31, 2014 | 27.15% | 19.77% |
| Dec 31, 2013 | 20.01% | 15.77% |
| Dec 31, 2012 | 16.05% | 14.95% |
| Dec 31, 2011 | 20.42% | 21.55% |
| Dec 31, 2010 | 30.93% | 20.99% |
| Dec 31, 2009 | 15.12% | 5.27% |
| Dec 31, 2008 | 20.59% | 10.02% |
| Dec 31, 2007 | 26.64% | 13.62% |
| Dec 31, 2006 | 38.21% | 16.52% |
| Dec 31, 2005 | 19.47% | 18.50% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Information Technology)
Texas Instruments Inc., ROE, long-term trends, comparison to industry (information technology)
| Texas Instruments Inc. | Information Technology | |
|---|---|---|
| Dec 31, 2025 | 30.73% | — |
| Dec 31, 2024 | 28.39% | 29.36% |
| Dec 31, 2023 | 38.53% | 31.85% |
| Dec 31, 2022 | 60.02% | 38.86% |
| Dec 31, 2021 | 58.27% | 42.21% |
| Dec 31, 2020 | 60.90% | 35.67% |
| Dec 31, 2019 | 56.33% | 36.60% |
| Dec 31, 2018 | 62.04% | 30.38% |
| Dec 31, 2017 | 35.62% | 23.40% |
| Dec 31, 2016 | 34.33% | 23.35% |
| Dec 31, 2015 | 30.02% | 26.17% |
| Dec 31, 2014 | 27.15% | 25.61% |
| Dec 31, 2013 | 20.01% | 24.89% |
| Dec 31, 2012 | 16.05% | 26.24% |
| Dec 31, 2011 | 20.42% | 29.22% |
| Dec 31, 2010 | 30.93% | 27.89% |
| Dec 31, 2009 | 15.12% | 20.28% |
| Dec 31, 2008 | 20.59% | 25.67% |
| Dec 31, 2007 | 26.64% | 24.01% |
| Dec 31, 2006 | 38.21% | 22.74% |
| Dec 31, 2005 | 19.47% | 22.11% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).