Texas Instruments Incorporated (TXN)

Both companies show negative ROE. Martin Whitman would check if the entire market segment is distressed.

Both firms have negative ROA. Martin Whitman would investigate if the market environment is extremely challenging.

Both companies show negative ROCE. Martin Whitman would investigate if external factors hamper profitability.

Gross margin 75-90% of ADI's 58.70%. Bill Ackman would ask if incremental improvements can close the gap.

Both companies are negative at the operating level. Martin Whitman would see if the entire niche faces fundamental challenges.

Both companies run at a net loss. Martin Whitman would see if broader market headwinds persist.