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![dividendology Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1509705643418128399.png) Dividendology [@dividendology](/creator/twitter/dividendology) on x 80.7K followers
Created: 2025-06-27 16:17:59 UTC

Already up XX% year to date, $TXN is still interesting here.

Texas Instruments is a historic dividend growth machine with one major issue lately: free cash flow collapse.

From $6B in 2022 → $1.3B in 2023 → $1.5B in 2024, resulting in a XXX% FCF payout ratio (yikes).

But context matters.

The numbers don’t tell the whole story.

This was the 6th most frequently bought stock by super investors in the most recent quarter.

Texas Instruments is nearing the end of a 6-year, capex-heavy reinvestment cycle to build out 300mm chip capacity.

While this has lowered free cash flow in the short term, management says this will:

- Cut chip costs by ~40%
- Boost gross margins
- Set up long-term FCF growth starting in 2026+

Texas Instruments has been sacrificing near-term profits to set itself up for long-term cost advantages and higher cash flow long term.

The fact that Texas Instruments made the Super Investors Top Buys list suggests they believe this capex-heavy period is about to pay off, just as management claims.

![](https://pbs.twimg.com/media/Gudn9q-WcAAM_-6.jpg)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1938632914725404825/c:line.svg)

**Related Topics**
[$15b](/topic/$15b)
[$13b](/topic/$13b)
[$6b](/topic/$6b)
[cash flow](/topic/cash-flow)
[dividend yield](/topic/dividend-yield)
[$txn](/topic/$txn)
[texas instruments](/topic/texas-instruments)
[stocks technology](/topic/stocks-technology)

[Post Link](https://x.com/dividendology/status/1938632914725404825)