Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing

Semiconductors & Semiconductor Equipment
Taiwan Semiconductor Manufacturing Co. is the world's largest dedicated chip foundry, with mid-60s market share in 2024. TSMC was founded in 1987 as a joint venture of Philips, the government of Taiwan, and private investors. It went public in Taiwan in 1994 and as an ADR in the US in 1997. TSMC's scale and high-quality technology allow the firm to generate solid operating margins, even in the highly competitive foundry business. Furthermore, the shift to the fabless business model has created tailwinds for TSMC. The foundry leader has an illustrious base of customers, including Apple, AMD, and Nvidia, that look to apply its cutting-edge process technologies to their semiconductor designs. TSMC employs more than 83,000 people.

$2.1T

Market Cap • 10/16/2026

1987

(39 years)

Founded

1997

(29 years ago)

IPO

NYSE

Listing Exchange

Flag of Taiwan

Taiwan

Country

Valuation

P/B

9,7

P/S

13,8

P/EBITDA

18,8

P/OCF

21,7

P/FCF

45,9

P/E

26,7

BVPS

42,3

EPS

15,5

Market Cap

Market Cap

2,1T

EV

2T

EV/Revenue

13,2

EV/EBITDA

18

EV/EBIT

22,7

Payout

Dividend Per Share

3,5

Dividend Yield

0,8%

Buyback Yield

0%

Total Yield

0,8%

Dividend Yield 5Y

1,1%

Payout

22,4%

Retained Earnings

208B

Profitability

Gross Margin

65,8%

EBITDA Margin

73,1%

EBIT Margin

58%

Net Margin

51,5%

D&A/EBITDA

0%

R&D/Revenue

6%

Capex/Revenue

33,3%

Capex/D&A

220,6%

Capex/OCF

52,6%

SBC/OCF

—

% PPE

45%

% Goodwill

0%

ROE

41,5%

ROIC

51,3%

Growth

CAGR Revenue 5Y

23,6%

CAGR Op. Income 5Y

32,3%

CAGR Net Income 5Y

31,4%

CAGR EPS 5Y

31,5%

CAGR OCF 5Y

22,7%

Leverage

N.D./EBITDA

—

Debt/Equity

0%

Current Ratio

2,6

Quick Ratio

2,3

Interest Coverage

—

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