Lattice Semiconductor vs Texas Instruments: Revenue, Profit and Business Model
Lattice Semiconductor had $523.3M of annual revenue in FY2025 and $3.1M of net income. Texas Instruments had $17.7B of annual revenue in FY2025 and $5B of net income.
Latest financial snapshot
Lattice Semiconductor
- Latest annual revenue
- $523.3M (FY2025)
- Net income
- $3.1M
- Net margin
- 0.6%
- Revenue growth
- +2.3% a year, FY2016–FY2025
Texas Instruments
- Latest annual revenue
- $17.7B (FY2025)
- Net income
- $5B
- Net margin
- 28.3%
- Revenue growth
- +3.2% a year, FY2016–FY2025
Financial summary
Lattice Semiconductor
Revenue climbed from $404.1 million in 2019 to a record $737.2 million in 2023 under former CEO Jim Anderson, then fell 30.9% to $509.4 million in 2024 as industrial and automotive customers worked down inventory. FY2025 revenue edged up 2.7% to $523.3 million, with net income of only $3.1 million. Growth returned in 2026 on data center and AI demand: Q1 revenue reached $170.9 million and Q2 a record $201.1 million at a 71.7% non-GAAP gross margin. Lattice guided Q3 2026 to about $255 million at the midpoint, including two months of AMI, which management said put it on a $1 billion annual revenue run rate. Lattice Semiconductor Corporation is a major American designer of high-performance programmable logic devices, commanding a market valuation typically over $8 billion.
Texas Instruments
TI's revenue fell from a $20.03 billion peak in 2022 to $15.64 billion in 2024 during an industry inventory correction, then recovered to $17.68 billion in 2025 with net income of $5.00 billion. The upturn accelerated in 2026: Q2 revenue reached $5.46 billion, operating profit rose 48% to $2.31 billion and net income rose 53% to $1.98 billion. With heavy fab spending past its peak, trailing 12-month free cash flow climbed to $6.5 billion from $1.8 billion a year earlier. TI guided Q3 2026 revenue to $5.65-$6.15 billion.
Revenue and profit by year
Lattice Semiconductor
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $523.3M | $3.1M | 0.6% | +2.7% | Source |
| FY2024 | $509.4M | $61.1M | 12.0% | -30.9% | Source |
| FY2023 | $737.2M | $259.1M | 35.1% | +11.6% | Source |
| FY2022 | $660.4M | $178.9M | 27.1% | +28.1% | Source |
| FY2021 | $515.3M | $95.9M | 18.6% | +26.3% | Source |
| FY2020 | $408.1M | $47.4M | 11.6% | +1.0% | Source |
| FY2019 | $404.1M | $43.5M | 10.8% | +1.3% | Source |
| FY2018 | $398.8M | -$26.3M | -6.6% | +3.3% | Source |
| FY2017 | $386M | -$70.6M | -18.3% | -9.6% | Source |
| FY2016 | $427.1M | -$54.1M | -12.7% | — | Source |
Texas Instruments
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $17.7B | $5B | 28.3% | +13.0% | Source |
| FY2024 | $15.6B | $4.8B | 30.7% | -10.7% | Source |
| FY2023 | $17.5B | $6.5B | 37.2% | -12.5% | Source |
| FY2022 | $20B | $8.7B | 43.7% | +9.2% | Source |
| FY2021 | $18.3B | $7.8B | 42.4% | +26.9% | Source |
| FY2020 | $14.5B | $5.6B | 38.7% | +0.5% | Source |
| FY2019 | $14.4B | $5B | 34.9% | -8.9% | Source |
| FY2018 | $15.8B | $5.6B | 35.4% | +5.5% | Source |
| FY2017 | $15B | $3.7B | 24.6% | +11.9% | Source |
| FY2016 | $13.4B | $3.6B | 26.9% | — | Source |
Where the revenue comes from
Lattice Semiconductor
- Communications and Computing
55.9% of FY2025 revenue
Revenue from servers, client devices, AI control-plane applications, wireless and wireline infrastructure, data networking, cloud, and hyperscaler-related uses reached $292.716 million in FY2025.
- Industrial and Automotive
37.1% of FY2025 revenue
Factory automation, robotics, machine vision, automotive electronics, IoT, aerospace, defense, and related embedded uses generated $193.965 million in FY2025 revenue.
- Consumer
7.0% of FY2025 revenue
Consumer applications including displays, wearables, televisions, drones, home theater, and sound systems generated $36.581 million in FY2025 revenue.
Texas Instruments
- Analog
~78% (2024)
Power management and signal chain chips such as amplifiers, data converters, interface and isolation products. Analog revenue was about $12.16 billion of TI's $15.64 billion in 2024, and it led 2026 growth, rising 22% year over year in Q1 2026.
- Embedded Processing
~16% (2024)
Microcontrollers and processors, including C2000 real-time control MCUs, MSP430 low-power MCUs and automotive radar and processor chips. Revenue was about $2.56 billion in 2024 and grew 12% year over year in Q1 2026.
- Other (DLP, calculators, custom)
~6% (2024)
DLP display and light-steering products, education calculators such as the TI-84 Plus, and custom and legacy products.
Business model and strategy
Lattice Semiconductor
How it makes money
Lattice makes money by designing FPGAs and selling the chips, mostly through distributors, to equipment makers. It is fabless: foundry partners manufacture the silicon, while Lattice owns the architecture, the Radiant and Propel design software, and application 'solution stacks' such as sensAI and Sentry.
Growth strategy
Lattice is pursuing three main lines of growth: more FPGA content per AI server for board control and hardware root of trust, the newer mid-range Avant family that widens its market beyond small devices, and cross-selling AMI firmware and management software with Lattice silicon to hyperscalers and server makers.
Competitive advantage
Lattice's edge comes from years spent optimizing small FPGAs for low power and board space, plus a software toolchain and IP library that make those chips easier to deploy. Its control and security FPGAs are designed into server and AI-system boards that run for multiple product generations, which makes them hard to displace.
Texas Instruments
How it makes money
Texas Instruments operates an integrated semiconductor design and manufacturing model, specializing in high-margin analog chips and embedded processing solutions. The company manufactures tens of thousands of differentiated products sold to over 100,000 global customers across the industrial, automotive, personal electronics, communications, and enterprise systems sectors.
Growth strategy
TI's strategy has four parts. First, manufacturing: it has spent heavily on 300mm analog fabs in Richardson (RFAB2), Lehi, Utah (LFAB, bought from Micron in 2021 for $900 million) and Sherman, Texas, where SM1 began production in December 2025, with support from the U.S. CHIPS Act.
Competitive advantage
TI's edge rests on owned, mostly 300mm analog manufacturing, a very broad catalog of long-lived parts, direct reach to customers through ti.com, and a cost structure that let it generate $6.5 billion of free cash flow in the 12 months to June 2026.
Questions about Lattice Semiconductor vs Texas Instruments
Which company has higher revenue — Lattice Semiconductor Corporation or Texas Instruments Inc.?
Lattice Semiconductor Corporation had $523.3M (FY2025), while Texas Instruments Inc. had $17.7B (FY2025). By latest annual revenue, Texas Instruments Inc. is the larger business, with Lattice Semiconductor Corporation showing a smaller revenue base.
What is the market cap of Lattice Semiconductor Corporation vs Texas Instruments Inc.?
Lattice Semiconductor Corporation's market capitalisation stands at $18.2B, while Texas Instruments Inc.'s is $236.0B. Texas Instruments Inc. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Lattice Semiconductor Corporation.
How does revenue per employee compare for Lattice Semiconductor Corporation and Texas Instruments Inc.?
Lattice Semiconductor Corporation has $291k / employee in revenue per employee, while Texas Instruments Inc. has $536k / employee. Headcounts may use different dates, so the ratio alone does not establish which business operates more efficiently.
How do Lattice Semiconductor Corporation and Texas Instruments Inc. make money?
Lattice Semiconductor Corporation and Texas Instruments Inc. generate revenue in fundamentally different ways. Lattice Semiconductor Corporation: Lattice makes money by designing FPGAs and selling the chips, mostly through distributors, to equipment makers. Texas Instruments Inc.: Texas Instruments operates an integrated semiconductor design and manufacturing model, specializing in high-margin analog chips and embedded processing solutions.
Which company is valued higher relative to revenue — Lattice Semiconductor Corporation or Texas Instruments Inc.?
On a price-to-sales (P/S) basis, Lattice Semiconductor Corporation trades at 34.8x P/S and Texas Instruments Inc. at 13.3x P/S. Lattice Semiconductor Corporation commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Texas Instruments Inc.. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Lattice Semiconductor Corporation bigger than Texas Instruments Inc.?
By last reported revenue, Texas Instruments Inc. ($17.7B (FY2025)) is the larger company compared to Lattice Semiconductor Corporation ($523.3M (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Lattice Semiconductor vs Texas Instruments overview