Taiwan Semiconductor Manufacturing Co., Ltd.

Taiwan Semiconductor Manufacturing Co., Ltd.

48.64
USD
-2.06
(-4.06%)
1.85EPS
29.16P/E
2.03TMarket Cap
Jan 21Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
15.88
20.29
22.44
25.22
26
27.44
28.46
35.63
42.23
60.23
57.51
77
101.34
118.13
Basic EPS, GAAP
4.89
6.77
8.06
8.82
9.18
9.66
9.42
13.59
15.76
26.41
22.66
30.82
45.16
58.97
Free Cash Flow per Basic Share
1.52
3.44
7.13
5.5
6.64
6.68
3.87
8.01
6.99
13.86
7.62
22.91
26.4
29.92
Dividend per Share
2.07
2.07
3.1
4.14
4.83
5.52
6.9
6.9
7.07
7.59
7.76
9.66
12.42
14.14
Book Value per Share
22.18
27.19
31.76
36.15
39.74
44.17
42.93
48.81
57.17
77.23
91.22
112.89
142.44
171.1
Tangible Book Value per Share
21.88
26.83
31.39
35.76
39.36
43.72
42.38
48.12
56.46
76.53
90.62
112.2
141.78
170.46
Basic Weighted Avg Shares
37,588
37,590
37,592
37,592
37,592
37,592
37,592
37,592
37,592
37,590
37,590
37,588
37,589
37,591
Sales/Revenue/Turnover
597,003
762,835
843,513
947,909
977,443
1,031,362
1,069,985
1,339,255
1,587,415
2,263,891
2,161,736
2,894,308
3,809,054
4,440,492
Operating Margin (%)
35.18
38.91
38.14
39.87
39.56
37.2
34.83
42.32
40.95
49.53
42.62
45.68
50.83
56.1
Depreciation Expense
156,182
200,252
222,506
223,828
260,143
292,546
286,884
331,725
422,395
437,254
532,191
662,797
688,096
688,888
Net Income, GAAP
183,978
254,301
302,851
331,714
344,998
363,053
353,948
510,744
592,359
992,923
851,740
1,158,380
1,697,604
2,216,808
Effective Tax Rate (%)
14.87
15.85
13.59
14.02
12.9
8.66
9.19
12.61
10.58
13.18
13.1
17.66
16.97
16.92
Profit Margin (%)
30.82
33.34
35.9
34.99
35.3
35.2
33.08
38.14
37.32
43.86
39.4
40.02
44.57
49.92
Working Capital
154,513
401,780
506,972
469,443
470,313
594,843
224,250
460,287
848,720
1,066,333
1,251,228
1,779,696
2,294,717
2,707,939
LT Debt
211,584
214,516
191,998
153,115
91,800
56,900
40,142
276,633
634,144
868,861
946,965
987,184
927,657
897,540
Total Equity
834,113
1,022,361
1,194,970
1,359,846
1,494,447
1,661,105
1,614,387
1,835,764
2,151,683
2,917,832
3,453,867
4,279,272
5,396,219
6,474,471
Return on Invested Capital (%)
18.31
20.55
19.51
20.38
19.48
19.11
18.09
24.06
22.12
28.01
18.83
21.65
26.26
30.37
Return on Capital (%)
19.7
22.03
22.45
21.87
20.97
20.61
19.57
25.56
23.36
29.88
21
23.99
29.02
33.83
Return on Common Equity (%)
23.82
27.4
27.33
25.99
24.19
23.02
21.62
29.62
29.74
39.31
26.9
30.19
35.37
40.26

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
136,926
156,242
167,410
LT Borrowings
896,062
901,018
864,264
LT Finance Leases
31,595
33,509
33,276
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
37,595
37,595
37,595
Market Capitalization
40,507,148
47,606,053
64,640,592

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
3,817,131
4,265,512
4,565,701
Cash, Cash Equivalents & STI
3,128,068
3,452,597
3,597,437
Accounts Receivable, Net
279,052
357,743
435,762
Inventories
288,110
311,453
385,525
Total Current Liabilities
1,522,414
1,714,253
1,857,762
Payables & Accruals
1,279,048
1,417,264
1,514,214
ST Debt
136,926
156,242
167,410
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
16.69%
24.24%
26.1%
Free Cash Flow
31.98%
51.26%
15.23%
Net Income, GAAP
21.25%
30.39%
46.55%
Sales/Revenue/Turnover
17.21%
24.43%
31.61%
Total Cash Common Dividend
- -
13.02%
28.57%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
592,644
673,510
759,692
868,461
2,894,308
2025
839,254
933,792
989,918
1,046,090
3,809,054
2026
1,134,103
1,270,380
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
6
6.59
8.65
9.57
30.82
2025
9.62
10.6
12.03
12.91
45.16
2026
15.23
18.8
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.07
2.41
2.41
2.76
9.66
2025
2.76
3.1
3.1
3.45
12.42
2026
3.45
4.14
- -
- -
- -

Company Description

CEO
Che Chia Wei
Full Time Employees
76,907
Sector
Electronic technology
Industry
Semiconductors
Address
Hsinchu Science Park Hsinchu Taiwan 300096
IPO Date
Sep 5, 1994
Website
tsmc.com
Business
Taiwan Semiconductor Manufacturing Company Limited (TSMC) operates as a dedicated semiconductor foundry and leader in advanced wafer fabrication services. TSMC focuses on the production of integrated circuits (ICs) for fabless semiconductor companies and other customers, offering a broad range of process technologies, specialty process services, and manufacturing solutions that enable customers to design and scale semiconductor products across diverse applications. Main Products and Services - Foundry services: leading-edge wafer fabrication for ICs across a variety of process nodes and technologies; volume production of logic, mixed-signal, analog, and specialty wafers; risk production and high-volume manufacturing capacity optimization; multi-project wafer service and turnkey manufacturing support. - Process technologies: advanced CMOS logic, FinFET and FinFET-equivalent structures for power and performance, ultra-low leakage processes, memory and specialty technologies, and specialty nodes tailored to customer requirements; development of process design kits, process qualification, and yield learning programs. - Manufacturing services: wafer fabrication, front-end processes (Fabs), back-end assembly and testing coordination as part of ecosystem support; package and test coordination through close collaboration with customers and ecosystem partners to ensure quality, reliability, and timing. - Design enablement and collaboration: IP protection, design-for-manufacturability guidance, collaboration on process characterizations, and joint development programs to optimize yields and performance for customer designs. - Supply chain and logistics support: wafer sourcing, utilization planning, capacity management across multi-site operations, and customer-facing supply chain services to ensure timely delivery and mitigated risk. - Quality and reliability services: extensive qualification programs, reliability testing, failure analysis, and ongoing monitoring to ensure product performance and adherence to industry standards. Geographic Operations - Global manufacturing footprint primarily anchored in Taiwan with wafer fabrication facilities and advanced cleanroom facilities; regional and global customer service and logistics support networks enabling worldwide access to manufacturing capacity; cross-border logistics and international customer engagement to support global fabless ecosystems. Founding Year and Headquarters - Founded in 1987 and headquartered in Hsinchu, Taiwan, with strategic presence and manufacturing operations spanning multiple regions to support a global customer base. Industry and Segments - Industry: Semiconductors; Segment focus: pure-play semiconductor foundry services, advanced wafer fabrication, and related manufacturing ecosystem support. - Customer types: fabless semiconductor companies, integrated device manufacturers seeking high-volume, technologically advanced wafer production, and partners within the semiconductor ecosystem requiring reliable manufacturing capacity and process innovation. Subsidiaries and Relationships - Operates as a standalone corporate entity with a comprehensive global ecosystem; maintains strategic partnerships and collaborations with major customers and ecosystem players to advance process technology development and manufacturing capabilities. Latest Major Company Changes - Strategic partnerships and alliances: engages in ongoing collaborations with leading semiconductor design houses, IP providers, and ecosystem partners to advance advanced process technologies, yield optimization, and manufacturing efficiency. - Funding rounds and acquisitions: maintains consistency of capital investment in advanced process development and capacity expansion to meet growing demand for cutting-edge nodes and specialty processes. - New product launches and service offerings: introduces process technology nodes and production capabilities aligned with market demand for high-performance, energy-efficient, and AI/accelerator-focused ICs. - Strategic shifts and expansions: expands manufacturing capacity and capability footprint through planned investments and site optimization initiatives to support multi-node, multi-project production pipelines. - Operational changes: implements ongoing efficiency programs, supply chain resilience measures, and process development roadmaps to sustain leadership in node advancement and manufacturing reliability. Context and Positioning - Market role: TSMC is a strategic manufacturing partner for leading technology and semiconductor companies, providing scalable, reliable, and technologically advanced fabrication services that underpin modern electronics across computing, communications, automotive, consumer electronics, and AI/ML applications. - Competitive differentiators: process technology leadership, high-volume manufacturing discipline, deep yield learning, comprehensive supply chain execution, and robust ecosystem collaboration that accelerates time-to-market for customers.

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