(TSM) Taiwan Semiconductor - NYSE
Sector: Technology | Industry: Semiconductors | Exchange: NYSE (USA) | Market Cap: 2.396.773m USD | Total Return: 121.7% in 12m
Avg Turnover: 5.23B
EPS Trend: 91.9%
Qual. Beats: 5
Rev. Trend: 97.9%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Confidence
TSMC is a Taiwan-based semiconductor foundry that manufactures, packages, and tests integrated circuits for customers globally. Its wafer fabrication services cover CMOS logic, mixed-signal, radio frequency, embedded memory, and BiCMOS processes. Beyond its core manufacturing, the company also produces photomasks, provides customer and engineering support, and invests in technology start-ups. Its chips serve end markets including high performance computing, smartphones, IoT, automotive, and digital consumer electronics. Headquartered in Hsinchu City, Taiwan, TSMC was incorporated in 1987 and trades on the NYSE under the ticker TSM.
As a pure-play foundry, TSMC manufactures chips designed by external customers rather than selling its own branded products, allowing it to serve fabless semiconductor firms without competing with them. The foundry model separates chip design from fabrication, and TSMC is the largest player in this segment, serving customers across the major semiconductor end markets listed above.
- AI chip demand from Nvidia and AMD lifts advanced node revenue
- Arizona and Japan fab capex pressures near-term operating margins
- US export controls on China chip sales reshape customer mix
| Net Income: 1934b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA -0.02 > 1.0 |
| NWC/Revenue: 62.00% < 20% (prev 61.95%; Δ 0.05% < -1%) |
| CFO/TA 0.28 > 3% & CFO 2397b > Net Income 1934b |
| Net Debt (-2255b) to EBITDA (3158b): -0.71 < 3 |
| Current Ratio: 2.49 > 1.5 & < 3 |
| Outstanding Shares: last quarter (5.19b) vs 12m ago 0.01% < -2% |
| Gross Margin: 61.87% > 18% (prev 57.41%; Δ 4.46% > 0.5%) |
| Asset Turnover: 52.10% > 50% (prev 44.03%; Δ 8.07% > 0%) |
| Interest Coverage Ratio: 241.1 > 6 (EBIT TTM 2303b / Interest Expense TTM 9.55b) |
| A: 0.29 (Total Current Assets 4265b - Total Current Liabilities 1714b) / Total Assets 8659b |
| B: 0.60 (Retained Earnings 5192b / Total Assets 8659b) |
| C: 0.29 (EBIT TTM 2303b / Avg Total Assets 7896b) |
| D: 2.16 (Book Value of Equity 5890b / Total Liabilities 2728b) |
| Altman-Z'' = 8.11 = AAA |
| DSRI: 1.14 (Receivables 363b/244b, Revenue 4114b/3141b) |
| GMI: 0.93 (GM 57.41% / 61.87%) |
| AQI: 1.05 (AQ_t 0.05 / AQ_t-1 0.05) |
| SGI: 1.31 (Revenue 4114b / 3141b) |
| TATA: -0.05 (NI 1934b - CFO 2397b) / TA 8659b) |
| Beneish M = -2.73 (Cap -4..+1) = A |
As of June 22, 2026, the stock is trading at USD 462.12 with a total of 25,817,100 shares traded.
Over the past week, the price has changed by +9.75%,
over one month by +13.71%,
over three months by +36.79% and
over the past year by +121.74%.
Taiwan Semiconductor has received a consensus analysts rating of 4.59. Therefore, it is recommended to buy TSM.
- StrongBuy: 11
- Buy: 5
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 473.4 | 2.4% |
Market Cap TWD = 75784b (2397b USD * 31.619 USD.TWD)
P/E Trailing = 39.7352
P/E Forward = 29.6736
P/S = 0.584
P/B = 12.8542
P/EG = 1.4393
Revenue TTM = 4114b TWD
EBIT TTM = 2303b TWD
EBITDA TTM = 3158b TWD
Long Term Debt = 901b TWD (from longTermDebt, last quarter)
Short Term Debt = 160b TWD (from shortTermDebt, last quarter)
Debt = 1128b TWD (from shortLongTermDebtTotal, last quarter) + Leases 33.5b
Net Debt = -2255b TWD (calculated: Debt 1128b - CCE 3383b)
Enterprise Value = 73528b TWD (75784b + Debt 1128b - CCE 3383b)
Interest Coverage Ratio = 241.1 (Ebit TTM 2303b / Interest Expense TTM 9.55b)
EV/FCF = 66.71x (Enterprise Value 73528b / FCF TTM 1102b)
FCF Yield = 1.50% (FCF TTM 1102b / Enterprise Value 73528b)
FCF Margin = 26.79% (FCF TTM 1102b / Revenue TTM 4114b)
Net Margin = 47.00% (Net Income TTM 1934b / Revenue TTM 4114b)
Gross Margin = 61.87% ((Revenue TTM 4114b - Cost of Revenue TTM 1568b) / Revenue TTM)
Gross Margin QoQ = 66.25% (prev 62.33%)
Tobins Q-Ratio = 8.49 (Enterprise Value 73528b / Total Assets 8659b)
Interest Expense / Debt = 0.85% (Interest Expense 9.55b / Debt 1128b)
Taxrate = 16.14% (372b / 2304b)
NOPAT = 1931b (EBIT 2303b * (1 - 16.14%))
Current Ratio = 2.49 (Total Current Assets 4265b / Total Current Liabilities 1714b)
Debt / Equity = 0.19 (Debt 1128b / totalStockholderEquity, last quarter 5890b)
Debt / EBITDA = -0.71 (Net Debt -2255b / EBITDA 3158b)
Debt / FCF = -2.05 (Net Debt -2255b / FCF TTM 1102b)
Total Stockholder Equity = 5218b (last 4 quarters mean from totalStockholderEquity)
RoA = 24.49% (Net Income 1934b / Total Assets 8659b)
RoE = 37.05% (Net Income TTM 1934b / Total Stockholder Equity 5218b)
RoCE = 37.63% (EBIT 2303b / Capital Employed (Equity 5218b + L.T.Debt 901b))
RoIC = 27.99% (NOPAT 1931b / Invested Capital 6899b)
WACC = 12.15% (E(75784b)/V(76911b) * Re(12.32%) + D(1128b)/V(76911b) * Rd(0.85%) * (1-Tc(0.16)))
Discount Rate = 12.32% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -2.22 | Cagr: -0.00%
[DCF] Terminal Value 66.70% ; FCFF base≈1025b ; Y1≈1175b ; Y5≈1729b
[DCF] Fair Price = 3.43k (EV 15522b - Net Debt -2255b = Equity 17777b / Shares 5.19b; r=12.15% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 91.92 | EPS CAGR: 34.42% | SUE: 3.11 | # QB: 5
Revenue Correlation: 97.87 | Revenue CAGR: 29.39% | SUE: 0.04 | # QB: 0
EPS current Quarter (2026-06-30): EPS=3.81 | Chg30d=+1.89% | Revisions=+20% | Analysts=6
EPS next Quarter (2026-09-30): EPS=4.13 | Chg30d=+1.34% | Revisions=+20% | Analysts=6
EPS current Year (2026-12-31): EPS=15.76 | Chg30d=+2.03% | Revisions=+33% | GrowthEPS=+48.0% | GrowthRev=+35.8%
EPS next Year (2027-12-31): EPS=19.66 | Chg30d=+1.89% | Revisions=+33% | GrowthEPS=+24.7% | GrowthRev=+26.3%
[Analyst] Revisions Ratio: +33%