Texas Instruments Q1 2026 10-Q: Revenue Rises 19% Year-Over-Year as Analog Segment Leads Recovery
Texas Instruments' first-quarter 2026 filing discloses $4.83 billion in revenue, a 19% year-over-year increase, with the Analog segment driving the bulk of growth and a pending $7.5 billion acquisition of Silicon Labs adding strategic and financial complexity.
Sourced from the primary SEC filing. 10-Q filed April 24, 2026 · SEC EDGAR ↗
Summary
Texas Instruments Incorporated filed its Form 10-Q for the quarter ended March 31, 2026, reporting revenue of $4.83 billion and net income of $1.55 billion, both materially above the year-ago period. The Analog segment, which accounts for the large majority of company revenue, posted a 22% year-over-year revenue gain and a significant expansion in operating margin. A definitive agreement announced February 4, 2026 to acquire Silicon Labs for approximately $7.5 billion in an all-cash transaction represents a notable development disclosed in the filing, with closing expected in the first half of 2027 pending regulatory and shareholder approvals.
Key metrics
Analog is TXN's largest segment, comprising Power and Signal Chain product lines; growth was led by Signal Chain.
Prior-year comparable period for Analog segment revenue.
Operating profit increase driven primarily by higher revenue and associated gross profit.
Prior-year comparable period for Analog segment operating profit.
Operating profit as a percentage of Analog segment revenue.
Prior-year comparable Analog operating margin.
Cost of revenue allocated to the Analog segment.
Prior-year comparable Analog cost of revenue.
Gross profit for the Analog segment.
Prior-year comparable Analog gross profit.
Research and development expense allocated to the Analog segment; unchanged year-over-year.
Prior-year comparable Analog R&D expense.
Selling, general and administrative expense allocated to the Analog segment.
Prior-year comparable Analog SG&A expense.
Consolidated revenue for the quarter ended March 31, 2026; growth led by industrial and data center markets.
Prior-year comparable consolidated revenue.
Consolidated gross profit; partially offset by higher manufacturing costs from planned capacity expansions.
Gross profit as a percentage of consolidated revenue, up from 56.8% in Q1 2025.
Prior-year comparable gross margin percentage.
Consolidated operating profit for Q1 2026.
Operating profit as a percentage of consolidated revenue.
Prior-year comparable operating profit margin.
Consolidated net income for Q1 2026.
Diluted earnings per share using the two-class method; prior year was $1.28.
Basic earnings per share; prior year was $1.29.
Total consolidated research and development expense.
Total consolidated selling, general and administrative expense.
Transaction-related costs associated with the planned acquisition of Silicon Labs announced February 4, 2026.
Net of amortized discounts, premiums and issuance costs; up $13 million year-over-year.
Includes discrete tax items; compares with 8% in Q1 2025. Differs from the 21% U.S. statutory rate due to U.S. tax benefits.
Increase driven by higher net income, non-cash items, and lower cash used for working capital.
Down from $1,123 million in Q1 2025; primarily for semiconductor manufacturing equipment and facilities.
Direct funding cash proceeds received under the U.S. CHIPS and Science Act; prior year was $260 million (ITC-related).
Non-GAAP measure calculated as cash from operations less capex plus CHIPS Act proceeds; prior-year period was $1,715 million.
Includes $335 million of CHIPS Act ITC used to reduce income taxes payable over the period.
GAAP measure; compares with 38.3% for the prior 12-month period.
Non-GAAP measure; compares with 10.7% for the prior 12-month period.
Consolidated revenue over the trailing four quarters.
Sum of $3,549 million cash and cash equivalents and $1,554 million short-term investments as reported at quarter-end.
End-of-period balance; up from $3,225 million at December 31, 2025.
Down from $1,656 million at December 31, 2025.
Increased $282 million from December 31, 2025.
Compared with 40 days at the end of Q4 2025.
Decreased $109 million from December 31, 2025.
Compared with 222 days at the end of Q4 2025; reflects execution of inventory build-ahead strategy.
Unchanged from December 31, 2025; maturities range from 2026 to 2063.
Includes net unamortized discounts, premiums and issuance costs of ($100) million.
Measured using Level 2 broker-dealer quotes; compares with carrying value of $14.05 billion.
Cash dividends declared and paid in Q1 2026; compares with $1.36 per share in Q1 2025.
Reflects increased dividend rate versus $1,238 million in Q1 2025.
0.8 million shares repurchased; compares with $653 million (3.5 million shares) in Q1 2025.
Remaining capacity under board-authorized repurchase programs announced in September 2018 and September 2022.
Common shares outstanding as of the filing date.
Revenue increase driven by higher demand influenced by macroeconomic recovery factors.
Significant improvement driven by higher revenue and gross profit; prior year was $40 million.
Compared with 6.2% in Q1 2025.
Includes DLP products and calculators; revenue decreased $34 million year-over-year.
Includes $17 million of acquisition charges related to planned Silicon Labs acquisition; prior year was $78 million.
37% of total revenue; unchanged as a share of revenue versus Q1 2025.
21% of total revenue, up from 20% in Q1 2025.
22% of total revenue; Germany represented 10% of total revenue in Q1 2026.
Management-disclosed aggregate operating investment over the trailing four quarters.
Management's stated expectation for 2026 capital expenditures as the company nears the end of its six-year elevated capex cycle.
All-cash transaction at $231.00 per share; closing expected in first half of 2027, subject to regulatory and stockholder approvals.
Out of up to $1.6 billion in direct funding available for three 300mm wafer fabs in Sherman, TX and Lehi, UT.
Prior-year comparable capex; reflects the elevated investment phase the company states it is nearing the end of.
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