Texas Instruments's biggest risks in the FY2024 10-K
- Texas Instruments faces heavy reliance on global markets, with 60% of revenue international and 20% from China.
- The company operates in the highly cyclical semiconductor industry with intense pricing competition.
- Operations depend heavily on complex manufacturing, third-party supply chains, and strict intellectual property enforcement.
The risks most specific to Texas Instruments
- Risks related to our business and industry
Our global operations subject us to risks associated with domestic or international political, social, economic or other conditions
About 60% of revenue comes from customers outside the US, with China accounting for about 20%.
- Risks related to our business and industry
We face substantial competition that requires us to respond rapidly to product development and pricing pressures
Intense technological and pricing competition comes from large rivals and emerging companies, particularly in Asia.
- Risks related to our business and industry
Changes in expected demand for our products could have a material adverse effect on our results of operations
The cyclical semiconductor market leads to significant, rapid increases and decreases in product demand.
- Risks related to our business and industry
We face supply chain and manufacturing risks
Manufacturing operations and supply chains rely on third-party goods and services that face potential disruptions.
- Risks related to our business and industry
Our results of operations could be adversely affected by distributors’ promotion of competing product lines or our distributors’ financial performance
Distributors generated about 20% of revenue in 2024 and also carry competing product lines.
- Legal and regulatory risks
Our results of operations could be affected by changes in tax-related matters
Facilities in more than 30 countries subject operations to varying tax rates and audits by multiple authorities.
All 16 risk factors
Headings as the filing states them, in filing order.
Risks related to our business and industry
- 01Our global operations subject us to risks associated with domestic or international political, social, economic or other conditions
- 02We face substantial competition that requires us to respond rapidly to product development and pricing pressures
- 03Changes in expected demand for our products could have a material adverse effect on our results of operations
- 04Our operating results and our reputation could be adversely affected by cybersecurity events, breaches, disruptions or other incidents relating to our information technology systems
- 05Our ability to successfully implement strategic, business and organizational changes could affect our business plans and results of operations
- 06Our results of operations could be affected by natural events in the locations in which we operate
- 07Rapid technological change in markets we serve requires us to develop new technologies and products
- 08We face supply chain and manufacturing risks
- 09Our continued success depends in part on our ability to retain, train and recruit a sufficient number of qualified employees in a competitive environment
- 10Our results of operations and our reputation could be affected by warranty claims, product liability claims, product recalls or legal proceedings
- 11Our results of operations could be adversely affected by distributors’ promotion of competing product lines or our distributors’ financial performance
Legal and regulatory risks
- 12Our operations could be affected by the complex laws, rules and regulations to which our business is subject
- 13Our results of operations could be affected by changes in tax-related matters
- 14Our performance depends in part on our ability to enforce our intellectual property rights and to maintain freedom of operation
Risks related to our financing activities and other risks
- 15Our debt could affect our operations and financial condition
- 16Our results of operations and liquidity could be affected by changes in the financial markets
Other Texas Instruments 10-Ks
- FY2025 10-K risk factors17 risks1 new2 reworded
New risk 12 highlights environmental and manufacturing compliance costs. Reworded risk 0 adds a 50 percent metric for products shipped into China.
Filed Feb 06, 2026
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.