Texas Instruments Inc., current enterprise value calculation

Current share price (P)	$194.39
No. shares of common stock outstanding	910,332,971
US$ in millions
Common equity (market value)¹	176,960)
Add: Preferred stock, $25 par value; none issued (per books)	—)
Total equity	176,960)
Add: Current portion of long-term debt (per books)	750)
Add: Long-term debt, excluding current portion (per books)	12,846)
Total equity and debt	190,556)
Less: Cash and cash equivalents	3,200)
Less: Short-term investments	4,380)
Enterprise value (EV)	182,976)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 194.39 × 910,332,971

Texas Instruments Inc., EV calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Share price^1, 2	$183.03	$159.20	$182.29	$171.42	$169.93
No. shares of common stock outstanding¹	910,332,971	909,287,673	906,205,795	923,547,062	920,239,191
US$ in millions
Common equity (market value)³	166,618)	144,759)	165,192)	158,314)	156,376)
Add: Preferred stock, $25 par value; none issued (book value)	—)	—)	—)	—)	—)
Total equity	166,618)	144,759)	165,192)	158,314)	156,376)
Add: Current portion of long-term debt (book value)	750)	599)	500)	500)	550)
Add: Long-term debt, excluding current portion (book value)	12,846)	10,624)	8,235)	7,241)	6,248)
Total equity and debt	180,214)	155,982)	173,927)	166,055)	163,174)
Less: Cash and cash equivalents	3,200)	2,964)	3,050)	4,631)	3,107)
Less: Short-term investments	4,380)	5,611)	6,017)	5,108)	3,461)
Enterprise value (EV)	172,634)	147,407)	164,860)	156,316)	156,606)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Texas Instruments Inc. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 183.03 × 910,332,971

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Texas Instruments Inc. EV decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Texas Instruments Inc. (NASDAQ:TXN)

Enterprise Value (EV)