Price to FCFE (P/FCFE)
Free Cash Flow to Equity (FCFE)
Texas Instruments Inc., FCFE calculation
US$ in millions
Based on: 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).
| Item | Description | The company |
|---|---|---|
| FCFE | Free cash flow to equity is the cash flow available to Texas Instruments Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. | Texas Instruments Inc. FCFE decreased from 2021 to 2022 and from 2022 to 2023. |
Price to FCFE Ratio, Current
Texas Instruments Inc., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | 912,216,614 |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | 3,849) |
| FCFE per share | 4.22 |
| Current share price (P) | 198.19 |
| Valuation Ratio | |
| P/FCFE | 46.97 |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Advanced Micro Devices Inc. | 199.20 |
| Analog Devices Inc. | 25.95 |
| Applied Materials Inc. | 18.31 |
| Broadcom Inc. | 44.25 |
| First Solar Inc. | — |
| Intel Corp. | — |
| KLA Corp. | 21.91 |
| Lam Research Corp. | 22.54 |
| Micron Technology Inc. | — |
| NVIDIA Corp. | 138.64 |
| Qualcomm Inc. | 16.56 |
| P/FCFE, Sector | |
| Semiconductors & Semiconductor Equipment | 117.35 |
| P/FCFE, Industry | |
| Information Technology | 51.66 |
Based on: 10-K (reporting date: 2023-12-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Texas Instruments Inc., historical P/FCFE calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 909,287,673 | 906,205,795 | 923,547,062 | 920,239,191 | 933,975,619 | |
| Selected Financial Data (US$) | ||||||
| Free cash flow to equity (FCFE) (in millions)2 | 3,849) | 6,917) | 7,239) | 6,488) | 6,543) | |
| FCFE per share3 | 4.23 | 7.63 | 7.84 | 7.05 | 7.01 | |
| Share price1, 4 | 159.20 | 182.29 | 171.42 | 169.93 | 131.47 | |
| Valuation Ratio | ||||||
| P/FCFE5 | 37.61 | 23.88 | 21.87 | 24.10 | 18.77 | |
| Benchmarks | ||||||
| P/FCFE, Competitors6 | ||||||
| Advanced Micro Devices Inc. | 241.70 | 33.46 | 44.72 | 133.51 | — | |
| Analog Devices Inc. | 22.28 | 24.14 | 34.67 | 33.98 | 37.52 | |
| Applied Materials Inc. | 17.53 | 19.17 | 27.20 | 23.21 | 19.53 | |
| Broadcom Inc. | 30.06 | 14.62 | 22.35 | 9.16 | 5.64 | |
| First Solar Inc. | — | 61.91 | — | — | — | |
| Intel Corp. | — | — | 14.25 | 8.57 | 16.55 | |
| KLA Corp. | 26.78 | 9.01 | 28.05 | 19.15 | 9.84 | |
| Lam Research Corp. | 18.67 | 24.95 | 34.58 | 16.89 | 6.14 | |
| Micron Technology Inc. | — | 18.66 | 37.24 | 81.71 | 13.92 | |
| NVIDIA Corp. | 151.07 | 54.83 | 35.22 | 44.24 | 30.15 | |
| Qualcomm Inc. | 11.97 | 19.13 | 17.93 | 34.91 | 16.39 | |
| P/FCFE, Sector | ||||||
| Semiconductors & Semiconductor Equipment | 48.29 | 29.17 | 25.08 | 17.87 | 14.27 | |
| P/FCFE, Industry | ||||||
| Information Technology | 33.47 | 26.69 | 27.52 | 23.46 | 19.14 | |
Based on: 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).
1 Data adjusted for splits and stock dividends.
3 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 3,849,000,000 ÷ 909,287,673 = 4.23
4 Closing price as at the filing date of Texas Instruments Inc. Annual Report.
5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= 159.20 ÷ 4.23 = 37.61
6 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/FCFE | Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. | Texas Instruments Inc. P/FCFE ratio increased from 2021 to 2022 and from 2022 to 2023. |