Taiwan Semiconductor Manufacturing Company Limited
TSMSummary
TSM at a glance
Taiwan Semiconductor (TSM) closed at $406.13 on Oct 30, 2026. The models produced no usable value for it on this snapshot.
In Q3 FY2026, the latest quarter on file, revenue grew 51% on a year earlier to $1.5T, with an operating margin of 58.6%. Over the twelve months to Q3 FY2026, free cash flow was $1.5T.
Among the superinvestors tracked here, Chase Coleman reduced and First Eagle reduced. Insiders bought $121,466.7 on the open market over the last 90 days. The latest filing is a 6-K (current report (foreign issuer)), filed Oct 22.
Price and model value
What the marks mean
Valuation
All 0 models →The models produced no usable value for TSM on this snapshot.
TSM files its statements in TWD while the price is quoted in USD. The models are not run across that gap — a per-share value in one currency set against a price in another would be off by the exchange rate — so this page shows no model value. The filed figures are on the financials tab, as reported.
Every model
Against its peers and its past
| TSM | Peers' median | Own 5-yr median | |
|---|---|---|---|
| P/E · last fiscal year | — | 43.4× | 28.1× |
| Free cash flow yield | — | 1.7% | |
| Operating margin | 50.8% | 31.9% | |
| Revenue growth | 31.6% | 19.7% |
Peers are the comparable companies below; the five-year median is at each fiscal year's close.
What the price implies
No growth rate solves for the price: beyond range. The reverse DCF →
Quant
Quant grade over time →TSM is not on the Quant model's list.
Growth and forecasts
Every estimate →Analysts expect revenue to grow 35.7% a year over the next 3 years, against 23.3% a year over the last five.
| Revenue | Growth | EPS | Growth | Analysts | |
|---|---|---|---|---|---|
| FY2024 | $2.9T | +33.9% | $230.80 | +44.6% | reported |
| FY2025 | $3.8T | +31.6% | $331.25 | +43.5% | reported |
| FY2026E | $5.5T | +44.1% | $546.90 | +69.1% | 23 |
| FY2027E | $7.6T | +37.9% | $731.83 | +33.8% | 24 |
| FY2028E | $9.5T | +25.9% | $928.42 | +26.9% | 11 |
- Revenue, last 5 years
- 23.3% a year
- Consensus, next 3 years
- 35.7% a year
The analysts' estimates, as FMP collects them — their figures, not this site's. Reported EPS is GAAP diluted.
Financials
Full statements →In Q3 FY2026, the latest quarter on file, revenue grew 51% on a year earlier to $1.5T, with an operating margin of 58.6%. Over the twelve months to Q3 FY2026, free cash flow was $1.5T.
| Latest | Year before | Change | |
|---|---|---|---|
| Revenue | $4.9T | $3.6T | +36% |
| Operating income | $2.9T | $1.8T | +59% |
| Net income | $2.5T | $1.6T | +61% |
| Free cash flow | $1.5T | $886.6B | +70% |
| Diluted EPS | $490.70 | $306.59 | +60% |
- Cash and investments
- $4.0T
- Total debt
- $981.3B
Dividends
- Dividends / free cash flow, FY2025
- 47.0%
- Raised
- 3 years in a row
- Growth, 5 yrs
- 21.4% a year
- Last change
- +16.6% · Sep 2026
Profitability and health
Every ratio →Operating margin 50.8% in fiscal 2025, against 40.9% in 2021; net cash of $3.0T at the latest quarter.
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | |
|---|---|---|---|---|---|---|
| Gross margin | 51.6% | 59.6% | 54.4% | 56.1% | 59.9% | |
| Operating margin | 40.9% | 49.5% | 42.6% | 45.7% | 50.8% | |
| Net margin | 37.3% | 43.9% | 39.4% | 40.0% | 44.6% | |
| Return on equity | 27.6% | 34.2% | 24.8% | 27.3% | 31.7% | |
| Debt to equity | 0.35× | 0.31× | 0.28× | 0.25× | 0.20× | |
| Interest coverage | 120.05× | 95.43× | 76.79× | 125.96× | 156.51× | |
| Current ratio | 2.12× | 2.08× | 2.33× | 2.36× | 2.51× |
Peers
Peers in full →TSM beside 8 comparable companies, chosen by business, not by industry label.
| Company | Market value | P/E | FCF yield | Gross margin | Op. margin | Revenue growth | Valuation | Quant |
|---|---|---|---|---|---|---|---|---|
| TSM Taiwan Semiconductor Manufacturing Company Limited | $2.1T | n/m | — | 59.9% | 50.8% | +31.6% | – | – |
| NVDA NVIDIA Corporation | $4.9T | 41.8× | 2.0% | 71.1% | 60.4% | +65.5% | A | S |
| AVGO Broadcom Inc. | $1.6T | 68.4× | 1.7% | 67.8% | 39.9% | +23.9% | A | A |
| AMD Advanced Micro Devices, Inc. | $824.1B | 190.5× | 0.8% | 49.5% | 10.7% | +34.3% | C | B |
| ASML ASML Holding N.V. | $603.5B | n/m | — | 52.8% | 34.6% | +15.6% | – | – |
| INTC Intel Corp. | $347.6B | n/m | −1.4% | 34.8% | −4.2% | −0.5% | – | C |
| AMAT Applied Materials, Inc. | $309.6B | 45.0× | 1.8% | 48.7% | 29.2% | +4.4% | B | S |
| LRCX Lam Research Corporation | $299.2B | 41.5× | 1.6% | 50.5% | 35.3% | +26.0% | B | S |
| QCOM QUALCOMM Incorporated | $176.0B | 32.9× | 7.3% | 55.4% | 27.9% | +13.7% | S | S |
Ownership
Every holder →| Chase Coleman | reduced | $2.3B |
| First Eagle | reduced | $1.8B |
| Viking Global | reduced | $1.5B |
| Tepper | added | $788.0M |
| Dodge & Cox | added | $688.1M |
| Ruane Cunniff | reduced | $560.1M |
- Yuan LipenOct 7 · VP+$3,175.6
- Yeap Choh FeiOct 7 · SVP+$4,128.3
- Zhang Kevin XiaoqiangOct 7 · SVP and Deputy Co-COO+$4,684
- Yoo Chue-SanOct 7 · VP+$3,969.5
Wall Street
Every firm →4 firms published a price target in the last 90 days: the median is $557.00, 37% above the close.
Third-party ratings and targets, quoted as the firms published them — not this site's view.
Analyst actions
News and filings
All news →About
Company profile →Taiwan Semiconductor Manufacturing Company Limited (TSMC), along with its affiliated entities, operates globally in the semiconductor industry, specializing in the manufacturing, packaging, meticulous testing, and worldwide distribution of integrated circuits and other crucial semiconductor components. Its expansive international presence covers key markets such as Taiwan, China, Europe, the Middle East, Africa, Japan, and the United States. The company is renowned for its diverse array of wafer fabrication processes. These capabilities enable the production of various advanced semiconductor types, including complementary metal-oxide-semiconductor (CMOS) logic, mixed-signal devices, radio frequency components, embedded memory, and bipolar CMOS mixed-signal circuits. Beyond its core foundry services, TSMC extends its offerings to include dedicated customer and engineering support. It also undertakes the production of specialized masks, actively invests in burgeoning technology startups, and manages the entire lifecycle—from research and development through to manufacturing, packaging, testing, and sales—of color filters. Furthermore, the company provides a range of investment services. TSMC's cutting-edge products are indispensable across numerous sectors, powering high-performance computing, modern smartphones, Internet of Things (IoT) ecosystems, sophisticated automotive systems, and a broad spectrum of digital consumer electronics. Established in 1987, the enterprise is officially headquartered in Hsinchu City, Taiwan.
- CEO
- Che Chia Wei
- Employees
- 65,152
- Headquarters
- Hsinchu City, TPE
- Listed
- 1997
Research on TSM
Model estimates and grades for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; each section is explained in the manual.