德州仪器公司（TI）发布 2023 年第三季度财务业绩与股东回报 _德州仪器TI_厂商BrandNews

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【查看厂商产品】德州仪器公司（TI）发布 2023 年第三季度财务业绩与股东回报 2023-11-12

2023 年 10 月 24 日

德州仪器公司（TI）（NASDAQ: TXN）日前公布其第三季度财务报告，营业收入为 45.3 亿美元，净收益为 17.1 亿美元，每股收益为 1.85 美元。每股收益包括公司原始指导中未包含的5美分收益。

关于公司业绩及股东回报，德州仪器总裁及首席执行官 Haviv Ilan 作如下说明：

“营业收入环比持平，较去年同期下降 14%。本季度，汽车市场保持增长，工业市场疲软态势扩大。
“过去 12 个月中，我们的经营现金流达 65 亿美元，再次凸显了公司在商业模式、高质量的产品组合以及 12 英寸模拟产品生产方面的诸多优势。自由现金流在过去一年中达 16 亿美元。
“过去 12 个月，我们在研发和销售及行政管理开支的投资达 37 亿美元，资本支出投资达 49 亿美元，给股东的回报达 56 亿美元。
“预计2023 年第四季度，我们的营业收入在 39.3 亿美元至 42.7 亿美元之间，每股收益范围在 1.35 美元至 1.57 美元之间。2023 年的实际税率约为 13% 到 14%。”

自由现金流为非 GAAP 财务衡量指标。自由现金流指的是经营活动产生的现金流减去资本支出后的所余现金。

盈利摘要

单位为百万美元，每股收益除外。

	Q3 2023		Q3 2022		变化
营业收入	$	4,532	$	5,241	(14) %
营业利润	$	1,892	$	2,678	(29) %
净收入	$	1,709	$	2,295	(26) %
每股收益	$	1.85	$	2.47	(25) %

现金流量

单位为百万美元。

			最近连续12个月
	Q3 2023		Q3 2023		Q3 2022		变化
经营现金流	$	1,937	$	6,538	$	9,035	(28) %
资本支出	$	1,495	$	4,890	$	3,112	57 %
自由现金流	$	442	$	1,648	$	5,923	(72) %
自由现金流占营业收入百分比				9.1 %		29.3 %

现金回报

单位为百万美元。

			最近连续12个月
	Q3 2023		Q3 2023		Q3 2022		变化
分派股息	$	1,126	$	4,499	$	4,236	6 %
股票回购	$	46	$	1,076	$	2,909	(63) %
总现金回报	$	1,172	$	5,575	$	7,145	(22) %

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Income	For Three Months Ended September 30,
(In millions, except per-share amounts)	2023			2022
Revenue	$	4,532		$		5,241
Cost of revenue (COR)		1,717				1,624
Gross profit		2,815				3,617
Research and development (R&D)		471				431
Selling, general and administrative (SG&A)		452				431
Restructuring charges/other		—				77
Operating profit		1,892				2,678
Other income (expense), net (OI&E)		128				33
Interest and debt expense		98				53
Income before income taxes		1,922				2,658
Provision for income taxes		213				363
Net income	$	1,709		$		2,295
Diluted earnings per common share	$	1.85		$		2.47
Average shares outstanding:
Basic		908				913
Diluted		916				923
Cash dividends declared per common share	$	1.24		$		1.15

Supplemental Information (Quarterly, except as noted)

Provision for income taxes is based on the following:
Operating taxes (calculated using the estimated annual effective tax rate)		$	229		$	391
Discrete tax items			(16)			(28)
Provision for income taxes (effective taxes)		$	213		$	363
A portion of net income is allocated to unvested restricted stock units (RSUs) on which we pay dividend equivalents. Diluted EPS is calculated using the following:
Net income		$	1,709		$	2,295
Income allocated to RSUs			(10)			(11)
Income allocated to common stock for diluted EPS		$	1,699		$	2,284

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES
Consolidated Balance Sheets		September 30,
(In millions, except par value)	2023		2022
Assets
Current assets:
Cash and cash equivalents	$	2,566	$	3,169
Short-term investments		6,382		5,921
Accounts receivable, net of allowances of ($15) and ($10)		1,976		2,040
Raw materials		401		333
Work in process		2,147		1,347
Finished goods		1,360		724
Inventories		3,908		2,404
Prepaid expenses and other current assets		265		238
Total current assets		15,097		13,772
Property, plant and equipment at cost		12,528		9,491
Accumulated depreciation		(3,208)		(3,006)
Property, plant and equipment		9,320		6,485
Goodwill		4,362		4,362
Deferred tax assets		632		291
Capitalized software licenses		138		75
Overfunded retirement plans		166		273
Other long-term assets		1,923		799
Total assets	$	31,638	$	26,057

Liabilities and stockholders’ equity
Current liabilities:
Current portion of long-term debt	$	300	$	499
Accounts payable		713		780
Accrued compensation		707		662
Income taxes payable		108		123
Accrued expenses and other liabilities		824		734
Total current liabilities		2,652		2,798
Long-term debt		10,922		7,438
Underfunded retirement plans		141		69
Deferred tax liabilities		66		92
Other long-term liabilities		1,226		1,153
Total liabilities		15,007		11,550
Stockholders’ equity:
Preferred stock, $25 par value. Shares authorized – 10; none issued		—		—
Common stock, $1 par value. Shares authorized – 2,400; shares issued – 1,741		1,741		1,741
Paid-in capital		3,280		2,877
Retained earnings		52,098		49,519
Treasury common stock at cost
Shares: September 30, 2023 – 833; September 30, 2022 –831		(40,253)		(39,476)
Accumulated other comprehensive income (loss), net of taxes (AOCI)		(235)		(154)
Total stockholders’ equity		16,631		14,507
Total liabilities and stockholders’ equity	$	31,638	$	26,057

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES
Consolidated Statements of Cash Flows	For Three Months Ended September 30,
(In millions)	2023		2022
Cash flows from operating activities
Net income	$	1,709	$	2,295
Adjustments to net income:
Depreciation		303		249
Amortization of capitalized software		17		13
Stock compensation		79		68
Deferred taxes		(99)		(3)
Increase (decrease) from changes in:
Accounts receivable		(20)		150
Inventories		(179)		(205)
Prepaid expenses and other current assets		28		25
Accounts payable and accrued expenses		27		42
Accrued compensation		145		140
Income taxes payable		(7)		21
Changes in funded status of retirement plans		26		56
Other		(92)		(85)
Cash flows from operating activities		1,937		2,766
Cash flows from investing activities
Capital expenditures		(1,495)		(790)
Proceeds from asset sales		1		—
Purchases of short-term investments		(3,080)		(4,346)
Proceeds from short-term investments		2,885		3,033
Other		(5)		(10)
Cash flows from investing activities		(1,694)		(2,113)
Cash flows from financing activities
Proceeds from issuance of long-term debt		—		695
Dividends paid		(1,126)		(1,051)
Stock repurchases		(46)		(996)
Proceeds from common stock transactions		68		78
Other		(12)		(12)
Cash flows from financing activities		(1,116)		(1,286)
Net change in cash and cash equivalents		(873)		(633)
Cash and cash equivalents at beginning of period		3,439		3,802
Cash and cash equivalents at end of period	$	2,566	$	3,169

业务分类季度业绩

单位为百万美元.

	Q3 2023		Q3 2022		变化
模拟：
营业收入	$	3,353	$	3,993	(16) %
营业利润	$	1,504	$	2,185	(31) %
嵌入式处理：
营业收入	$	890	$	821	8 %
营业利润	$	258	$	321	(20) %
其他：
营业收入	$	289	$	427	(32) %
营业利润*	$	130	$	172	(24) %

* 包括重组或其它费用。

非 GAAP 财务信息

本新闻稿包括根据这一衡量标准计算的自由现金流及各种比值。这些财务衡量标准并不遵循美国一般公认会计原则(GAAP)。自由现金流的计算方法是从最直接可比 GAAP 衡量标准，经营活动所产生的现金流（也被称为经营现金流）中减去资本支出。

本公司认为，自由现金流和相关的比值能够深刻反映公司的流动资金、现金生成能力和潜在可回报投资者的现金金额，并帮助更好了解公司财务业绩。这些非 GAAP 衡量指标是可比 GAAP 衡量指标的补充。

下表中的数据是基于最直接可比 GAAP 的衡量标准经调整后所得出的数据。

单位为百万美元。

	For 12 Months Ended September 30,
	2023		2022		Change
Cash flow from operations (GAAP)	$	6,538	$	9,035	(28) %
Capital expenditures		(4,890)		(3,112)
Free cash flow (non-GAAP)	$	1,648	$	5,923	(72) %

Revenue	$	18,112	$	20,190

Cash flow from operations as a percentage of revenue (GAAP)		36.1 %		44.7 %
Free cash flow as a percentage of revenue (non-GAAP)		9.1 %		29.3 %