Through a series of strategic moves over several years, we have re-shaped our business model to put Analog and Embedded Processing at its core. We believe these are two of the most attractive technology and market opportunities in the semiconductor industry today.
Our business model is built upon a unique collection of four sustainable attributes that separate us from peers. These are:
- our approach to manufacturing and technology
- the breadth of our product portfolio
- the reach of our market channels
- the diversity and longevity of our products and the markets we serve
We believe these attributes will benefit us for years to come.
Together, our business model and these attributes allow us to gain share, grow profitability and generate sustainable free cash flow*, giving us the ability to provide continuing returns to our shareholders. Long term, we believe the ability to generate cash, and specifically free cash flow growth, is what matters most to any business. We also believe that free cash flow will be valued only if it is productively reinvested in the business or returned to shareholders.
* Free cash flow = cash flow from operations minus capital expenditures
Amount of our free cash flow we're committed to return to shareholders through dividends and stock repurchases.
* plus proceeds from exercises of equity compensation less net debt retirement