Overview Dividends

(TSM) Taiwan Semiconductor - Ratings and Ratios

Exchange: NYSE • Country: Taiwan • Currency: USD • Type: Common Stock • ISIN: US8740391003

Wafers, Chips, Packaging, Testing, Masks

Semiconductors
Market Cap in USD: 1,576,127m

IPO / Inception: 1994-09-05
Return 12m vs S&P 500: 28.9%

EPS (Earnings per Share)

EPS CAGR: -46.13%
EPS Trend: 0.3%

Last SUE: -4.00
Qual. Beats: 0

Revenue

Rev. CAGR: 24.27%
Rev. Trend: 89.8%

Last SUE: 0.03
Qual. Beats: 0

Dividends

Dividend Yield	1.28%
Yield on Cost 5y	3.63%
Yield CAGR 5y	13.60%
Payout Consistency	96.5%
Payout Ratio	32.0%

Risk via 5d forecast
Volatility	35.7%
Value at Risk 5%th	55.3%
Relative Tail Risk	-5.88%

Reward TTM
Sharpe Ratio	1.04
Alpha	30.40
CAGR/Max DD	1.64

Character TTM
Hurst Exponent	0.356
Beta	1.480
Beta Downside	1.558

Drawdowns 3y
Max DD	36.82%
Mean DD	7.71%
Median DD	5.91%

Description: TSM Taiwan Semiconductor December 02, 2025

Taiwan Semiconductor Manufacturing Company Limited (TSMC) is the world’s largest dedicated semiconductor foundry, offering end-to-end services-from wafer fabrication and mask production to packaging, testing, and engineering support-across a broad portfolio that includes CMOS logic, mixed-signal, RF, embedded memory, and bipolar CMOS technologies.

Its chips power high-performance computing, smartphones, IoT devices, automotive electronics, and consumer digital products, making TSMC a critical supplier for the global technology ecosystem.

Key recent metrics: FY 2023 revenue reached ≈ US $79.5 billion with a 95 % capacity utilization rate; the firm invested roughly US $30 billion in 2023-2024 capital expenditures to expand 5 nm and 3 nm production capacity, positioning itself ahead of the industry’s node transition curve.

Primary economic drivers include sustained demand for AI-accelerated workloads, the U.S. CHIPS and Science Act incentives that encourage on-shore fab investment, and macro-level supply-chain tightening that favors TSMC’s scale and advanced-process lead.

For a deeper quantitative view of TSM’s valuation metrics, see the ValueRay analysis.

Piotroski VR‑10 (Strict, 0-10) 7.5

Net Income (1586.82b TTM) > 0 and > 6% of Revenue (6% = 217.89b TTM)

FCFTA 0.12 (>2.0%) and ΔFCFTA -2.35pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 59.48% (prev 61.48%; Δ -2.00pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.30 (>3.0%) and CFO 2169.67b > Net Income 1586.82b (YES >=105%, WARN >=100%)

Net Debt (-1521.55b) to EBITDA (2732.11b) ratio: -0.56 <= 3.0 (WARN <= 3.5)

Current Ratio 2.69 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (5.19b) change vs 12m ago -0.00% (target <= -2.0% for YES)

Gross Margin 58.98% (prev 54.45%; Δ 4.52pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 53.72% (prev 43.00%; Δ 10.72pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 158.0 (EBITDA TTM 2732.11b / Interest Expense TTM 11.85b) >= 6 (WARN >= 3)

Altman Z'' 7.95

(A) 0.29 = (Total Current Assets 3436.02b - Total Current Liabilities 1275.91b) / Total Assets 7354.11b

(B) 0.58 = Retained Earnings (Balance) 4260.83b / Total Assets 7354.11b

(D) 2.16 = Book Value of Equity 5012.86b / Total Liabilities 2318.53b

Total Rating: 7.95 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 86.24

1. Piotroski 7.50pt

2. FCF Yield 1.76%

3. FCF Margin 24.50%

4. Debt/Equity 0.19

5. Debt/Ebitda -0.56

6. ROIC - WACC (= 20.35)%

7. RoE 34.44%

8. Rev. Trend 89.79%

9. EPS Trend 0.34%

What is the price of TSM shares?

As of January 08, 2026, the stock is trading at USD 318.68 with a total of 11,683,210 shares traded.
Over the past week, the price has changed by +4.87%, over one month by +5.85%, over three months by +8.68% and over the past year by +52.76%.

Is TSM a buy, sell or hold?

Taiwan Semiconductor has received a consensus analysts rating of 4.59. Therefore, it is recommended to buy TSM.

Strong Buy: 11
Buy: 5
Hold: 1
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the TSM price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	344.6	8.1%
Analysts Target Price	344.6	8.1%
ValueRay Target Price	449.2	40.9%

TSM Fundamental Data Overview January 03, 2026

Market Cap TWD = 49677.95b (1576.13b USD * 31.519 USD.TWD)
P/E Trailing = 31.3612
P/E Forward = 25.0627
P/S = 0.434
P/B = 9.8616
P/EG = 1.4759
Beta = 1.267
Revenue TTM = 3631.43b TWD
EBIT TTM = 1872.34b TWD
EBITDA TTM = 2732.11b TWD
Long Term Debt = 918.23b TWD (from longTermDebt, last quarter)
Short Term Debt = 76.23b TWD (from shortTermDebt, last quarter)
Debt = 949.21b TWD (from shortLongTermDebtTotal, last quarter)
Net Debt = -1521.55b TWD (from netDebt column, last quarter)
Enterprise Value = 50624.07b TWD (49677.95b + Debt 949.21b - CCE 3.08b)
Interest Coverage Ratio = 158.0 (Ebit TTM 1872.34b / Interest Expense TTM 11.85b)
FCF Yield = 1.76% (FCF TTM 889.87b / Enterprise Value 50624.07b)
FCF Margin = 24.50% (FCF TTM 889.87b / Revenue TTM 3631.43b)
Net Margin = 43.70% (Net Income TTM 1586.82b / Revenue TTM 3631.43b)
Gross Margin = 58.98% ((Revenue TTM 3631.43b - Cost of Revenue TTM 1489.74b) / Revenue TTM)
Gross Margin QoQ = 59.45% (prev 58.62%)
Tobins Q-Ratio = 6.88 (Enterprise Value 50624.07b / Total Assets 7354.11b)
Interest Expense / Debt = 0.31% (Interest Expense 2.96b / Debt 949.21b)
Taxrate = 14.01% (73.61b / 525.37b)
NOPAT = 1609.99b (EBIT 1872.34b * (1 - 14.01%))
Current Ratio = 2.69 (Total Current Assets 3436.02b / Total Current Liabilities 1275.91b)
Debt / Equity = 0.19 (Debt 949.21b / totalStockholderEquity, last quarter 4998.31b)
Debt / EBITDA = -0.56 (Net Debt -1521.55b / EBITDA 2732.11b)
Debt / FCF = -1.71 (Net Debt -1521.55b / FCF TTM 889.87b)
Total Stockholder Equity = 4608.02b (last 4 quarters mean from totalStockholderEquity)
RoA = 21.58% (Net Income 1586.82b / Total Assets 7354.11b)
RoE = 34.44% (Net Income TTM 1586.82b / Total Stockholder Equity 4608.02b)
RoCE = 33.88% (EBIT 1872.34b / Capital Employed (Equity 4608.02b + L.T.Debt 918.23b))
RoIC = 31.61% (NOPAT 1609.99b / Invested Capital 5093.08b)
WACC = 11.26% (E(49677.95b)/V(50627.16b) * Re(11.47%) + D(949.21b)/V(50627.16b) * Rd(0.31%) * (1-Tc(0.14)))
Discount Rate = 11.47% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.00%
[DCF Debug] Terminal Value 71.11% ; FCFE base≈890.19b ; Y1≈1098.18b ; Y5≈1873.65b
Fair Price DCF = 3589 (DCF Value 18616.56b / Shares Outstanding 5.19b; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 0.34 | EPS CAGR: -46.13% | SUE: -4.0 | # QB: 0
Revenue Correlation: 89.79 | Revenue CAGR: 24.27% | SUE: 0.03 | # QB: 0
EPS next Quarter (2026-03-31): EPS=2.76 | Chg30d=+0.007 | Revisions Net=+2 | Analysts=6
EPS next Year (2026-12-31): EPS=12.72 | Chg30d=+0.083 | Revisions Net=+0 | Growth EPS=+22.2% | Growth Revenue=+21.4%

Additional Sources for TSM Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle