| Intrinsic Valuation of: TXN | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 6 | Market Cap | $276B | |||||
| 2021 | - | - (-) | P/E Ratio | 52 | Total Asset | $35B | |||||
| 2022 | $6B | - (-) | Net Income | $5B | Total Debt | $14B | |||||
| 2023 | $1B | -77.2% (-74.0%) | EBITDA | $8B | Total Liab | $18B | |||||
| 2024 | $1B | 11.0% (24.4%) | Opr Margin | 34.72 | Debt/Equity | 0.83 | |||||
| 2025 | $3B | 73.8% (53.7%) | PreTax Margin | 31.65 | BV/Share | 13 | |||||
| 5Y Average FCF | $3B | -1.0% (1.4%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 1.00% | Historical US Bond Yield: | 4.40% | ||||||||
| Discount Rate (WACC): | 10.29% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (-1.0%) | ||||||||||
| 2026 | $3B | MBG Intrinsic Value | $52 | ||||||||
| 2027 | $3B | ||||||||||
| 2028 | $3B | ||||||||||
| 2029 | $3B | ||||||||||
| 2030 | $3B | ||||||||||
| 2031 | $3B | ||||||||||
| Terminal Value | $29B | Net Worth/Share | $18 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $28B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $3B | $19 | 1.0% | 1.2% | 1.5% | 1.8% | 2.0% | ||||
| (-) Total Debt | $14B | WACC | 8.3% | 27 | 28 | 29 | 30 | 31 | |||
| Equity Value | $17B | 9.3% | 23 | 23 | 24 | 25 | 26 | ||||
| Shares Outstanding | 910,092,791 | 10.3% | 19 | 19 | 20 | 21 | 21 | ||||
| 11.3% | 16 | 16 | 17 | 17 | 18 | ||||||
| DCF Intrinsic Value | $19 | 12.3% | 14 | 14 | 14 | 15 | 15 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||