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52.4亿美元，净收益23亿美元，每股收益2.47美元。其中，每股收益包含未涵盖在公司原始计划的2美分。
关于公司业绩及股东回报，TI董事长、总裁兼首席执行官Rich Templeton作如下说明：
- “收入连续增长1%，比去年同期增长13%，与预期大体一致。在本季度，我们经历了预期中的个人电子产品需求疲软，且面临着整个工业市场疲软态势的扩大。
- “过去12个月中，经营现金流达90亿美元，再次体现了公司商业模式的优势。其中自由现金流在过去一年中达59亿美元，占营业收入的29%。这体现了我们高质量的产品组合，以及高效的制造策略，其中包括12英寸模拟产品的生产优势。
- “过去12个月在研发和销售及行政管理开支的投资达33亿美元，资本支出投资达31亿美元，给股东的回报达71亿美元。
- “德州仪器对2022年四季度的预期是：营业收入在44亿美元至48亿美元之间，每股收益范围在1.83美元至2.11美元之间。我们预计2022年的实际税率约为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。
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Q3 2022 |
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Q3 2021 |
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变化 |
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营业收入 |
|
$ |
5,241 |
|
$ |
4,643 |
|
13 % |
|
|
营业利润 |
|
$ |
2,678 |
|
$ |
2,305 |
|
16 % |
|
|
净收入 |
|
$ |
2,295 |
|
$ |
1,947 |
|
18 % |
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每股收益 |
|
$ |
2.47 |
|
$ |
2.07 |
|
19 % |
|
现金流量
单位为百万美元。
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最近连续12个月 |
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Q3 2022 |
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Q3 2022 |
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Q3 2021 |
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变化 |
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|||
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经营现金流 |
|
$ |
2,766 |
|
$ |
9,035 |
|
$ |
8,524 |
|
6 % |
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资本支出 |
|
$ |
790 |
|
$ |
3,112 |
|
$ |
1,392 |
|
124 % |
|
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自由现金流 |
|
$ |
1,976 |
|
$ |
5,923 |
|
$ |
7,132 |
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(17) % |
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自由现金流占营业收入百分比 |
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|
|
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29.3 % |
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40.6 % |
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现金回报
单位为百万美元。
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最近连续12个月 |
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Q3 2022 |
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Q3 2022 |
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Q3 2021 |
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变化 |
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|||
|
分派股息 |
|
$ |
1,051 |
|
$ |
4,236 |
|
$ |
3,761 |
|
13 % |
|
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股票回购 |
|
$ |
996 |
|
$ |
2,909 |
|
$ |
400 |
|
627 % |
|
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总现金回报 |
|
$ |
2,047 |
|
$ |
7,145 |
|
$ |
4,161 |
|
72 % |
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TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES |
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Consolidated Statements of Income |
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For Three Months Ended September 30, |
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(In millions, except per-share amounts) |
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2022 |
|
2021 |
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Revenue |
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$ |
5,241 |
|
$ |
4,643 |
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Cost of revenue (COR) |
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|
1,624 |
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|
1,491 |
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Gross profit |
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|
3,617 |
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|
3,152 |
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Research and development (R&D) |
|
|
431 |
|
|
388 |
|
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Selling, general and administrative (SG&A) |
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|
431 |
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|
412 |
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Acquisition charges |
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— |
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|
47 |
|
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Restructuring charges/other |
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|
77 |
|
|
— |
|
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Operating profit |
|
|
2,678 |
|
|
2,305 |
|
||
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Other income (expense), net (OI&E) |
|
|
33 |
|
|
15 |
|
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Interest and debt expense |
|
|
53 |
|
|
45 |
|
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Income before income taxes |
|
|
2,658 |
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|
2,275 |
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Provision for income taxes |
|
|
363 |
|
|
328 |
|
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Net income |
|
$ |
2,295 |
|
$ |
1,947 |
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Diluted earnings per common share |
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$ |
2.47 |
|
$ |
2.07 |
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Average shares outstanding: |
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Basic |
|
|
913 |
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|
923 |
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Diluted |
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|
923 |
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|
936 |
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Cash dividends declared per common share |
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$ |
1.15 |
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$ |
1.02 |
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Supplemental Information (Quarterly, except as noted) |
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Provision for income taxes is based on the following: |
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Operating taxes (calculated using the estimated annual effective tax rate) |
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$ |
391 |
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$ |
337 |
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Discrete tax items |
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(28) |
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(9) |
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Provision for income taxes (effective taxes) |
|
$ |
363 |
|
$ |
328 |
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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: |
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Net income |
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$ |
2,295 |
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$ |
1,947 |
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Income allocated to RSUs |
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(11) |
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(9) |
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Income allocated to common stock for diluted EPS |
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$ |
2,284 |
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$ |
1,938 |
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TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES |
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Consolidated Balance Sheets |
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September 30, |
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(In millions, except par value) |
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2022 |
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2021 |
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Assets |
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Current assets: |
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Cash and cash equivalents |
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$ |
3,169 |
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$ |
5,663 |
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Short-term investments |
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5,921 |
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|
4,119 |
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Accounts receivable, net of allowances of ($9) and ($9) |
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|
2,040 |
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|
1,653 |
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Raw materials |
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|
333 |
|
|
224 |
|
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Work in process |
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|
1,347 |
|
|
1,034 |
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Finished goods |
|
|
724 |
|
|
605 |
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Inventories |
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|
2,404 |
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|
1,863 |
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Prepaid expenses and other current assets |
|
|
238 |
|
|
287 |
|
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Total current assets |
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|
13,772 |
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|
13,585 |
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Property, plant and equipment at cost |
|
|
9,491 |
|
|
6,661 |
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Accumulated depreciation |
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|
(3,006) |
|
|
(2,640) |
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Property, plant and equipment |
|
|
6,485 |
|
|
4,021 |
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Goodwill |
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|
4,362 |
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|
4,362 |
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Deferred tax assets |
|
|
291 |
|
|
309 |
|
|
Capitalized software licenses |
|
|
75 |
|
|
88 |
|
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Overfunded retirement plans |
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|
273 |
|
|
252 |
|
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Other long-term assets |
|
|
799 |
|
|
656 |
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Total assets |
|
$ |
26,057 |
|
$ |
23,273 |
|
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Liabilities and stockholders’ equity |
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Current liabilities: |
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Current portion of long-term debt |
|
$ |
499 |
|
$ |
500 |
|
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Accounts payable |
|
|
780 |
|
|
534 |
|
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Accrued compensation |
|
|
662 |
|
|
665 |
|
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Income taxes payable |
|
|
123 |
|
|
101 |
|
|
Accrued expenses and other liabilities |
|
|
734 |
|
|
613 |
|
|
Total current liabilities |
|
|
2,798 |
|
|
2,413 |
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Long-term debt |
|
|
7,438 |
|
|
7,239 |
|
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Underfunded retirement plans |
|
|
69 |
|
|
129 |
|
|
Deferred tax liabilities |
|
|
92 |
|
|
86 |
|
|
Other long-term liabilities |
|
|
1,153 |
|
|
1,255 |
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Total liabilities |
|
|
11,550 |
|
|
11,122 |
|
|
Stockholders’ equity: |
|
|
|
|
|
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|
|
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 |
|
|
2,877 |
|
|
2,563 |
|
|
Retained earnings |
|
|
49,519 |
|
|
44,847 |
|
|
Treasury common stock at cost |
|
|
|
|
|
|
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|
Shares: March 31, 2022 – 819; March 31, 2021 – 818 |
|
|
(39,476) |
|
|
(36,687) |
|
|
Accumulated other comprehensive income (loss), net of taxes (AOCI) |
|
|
(154) |
|
|
(313) |
|
|
Total stockholders’ equity |
|
|
14,507 |
|
|
12,151 |
|
|
Total liabilities and stockholders’ equity |
|
$ |
26,057 |
|
$ |
23,273 |
|
前期资产负债表中的某些金额已重新分类，以符合当前的列报方式。
|
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES |
||||||||
|
Consolidated Statements of Cash Flows |
|
|
For Three Months Ended September 30, |
|
||||
|
(In millions) |
|
|
2022 |
|
2021 |
|
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|
Cash flows from operating activities |
|
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