Financial Reporting, Financial Statement Analysis, and Valuation: A STRATEGIC PERSPECTIVE 9e

4.19 Calculating and Interpreting Fixed Assets Turnover Ratios. Texas Instruments (TI) designs and manufactures semiconductor products for use in com- puters, telecommunications equipment, automobiles, and other electronics-based products. The manufacturing of semiconductors is highly capital-intensive. Hewlett-Packard Corporation (HP) manufactures computer hardware and various imaging products,rsuch as printers and faxn machines. Exhibit 4.26 presents selected data for T and HP for three recent years