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Taiwan Semiconductor Manufacturing Company Limited (TSM)
NYSE:TSM
US Market

TSMC (TSM) Ratios

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TSMC Ratios

TSM's free cash flow for Q4 2025 was $0.62. For the 2025 fiscal year, TSM's free cash flow was decreased by $ and operating cash flow was $0.56. See a summary of the company’s cash flow.
Ratios
TTM
Dec 25Dec 24Dec 23Dec 22
Liquidity Ratios
Current Ratio
2.69 2.62 2.36 2.40 2.17
Quick Ratio
2.47 2.42 2.14 2.13 1.94
Cash Ratio
1.94 1.90 1.63 1.60 1.42
Solvency Ratio
0.97 0.99 0.75 0.67 0.71
Operating Cash Flow Ratio
1.72 1.64 1.40 1.36 1.71
Short-Term Operating Cash Flow Coverage
0.00 17.45 30.51 133.64 83.39
Net Current Asset Value
$ 1.34T$ 1.34T$ 675.86B$ 144.92B$ 48.61B
Leverage Ratios
Debt-to-Assets Ratio
0.13 0.13 0.16 0.17 0.18
Debt-to-Equity Ratio
0.19 0.18 0.25 0.28 0.30
Debt-to-Capital Ratio
0.16 0.15 0.20 0.22 0.23
Long-Term Debt-to-Capital Ratio
0.16 0.14 0.18 0.21 0.22
Financial Leverage Ratio
1.47 1.46 1.58 1.60 1.69
Debt Service Coverage Ratio
429.76 17.74 24.68 64.91 46.43
Interest Coverage Ratio
345.75 0.00 125.96 76.79 95.43
Debt to Market Cap
0.02 0.02 0.03 0.06 0.01
Interest Debt Per Share
36.80 190.93 203.94 37.34 34.71
Net Debt to EBITDA
-0.65 -0.64 -0.54 -0.33 -0.29
Profitability Margins
Gross Profit Margin
58.98%59.89%56.12%54.36%59.56%
EBIT Margin
51.64%53.46%45.68%45.86%51.05%
EBITDA Margin
70.18%71.52%68.58%70.48%70.37%
Operating Profit Margin
49.51%50.82%45.68%42.63%49.53%
Pretax Profit Margin
52.27%53.60%48.57%45.30%50.54%
Net Profit Margin
43.70%45.10%40.02%38.79%43.86%
Continuous Operations Profit Margin
43.63%45.03%39.99%38.75%43.88%
Net Income Per EBT
83.60%84.14%82.40%85.63%86.79%
EBT Per EBIT
105.57%105.48%106.34%106.26%102.03%
Return on Assets (ROA)
21.65%21.94%17.31%15.16%20.00%
Return on Equity (ROE)
35.12%32.12%27.29%24.24%33.71%
Return on Capital Employed (ROCE)
29.90%30.29%24.56%19.95%27.89%
Return on Invested Capital (ROIC)
24.60%24.92%20.00%17.04%29.70%
Return on Tangible Assets
21.65%21.94%17.38%15.22%20.10%
Earnings Yield
3.81%3.51%3.44%5.07%1.68%
Efficiency Ratios
Receivables Turnover
11.80 13.70 10.64 10.70 9.78
Payables Turnover
5.73 18.36 4.78 17.22 3.41
Inventory Turnover
5.16 5.37 4.41 3.93 4.14
Fixed Asset Turnover
1.03 1.05 0.88 0.70 0.83
Asset Turnover
0.49 0.49 0.43 0.39 0.46
Working Capital Turnover Ratio
1.79 1.86 1.91 1.81 2.29
Cash Conversion Cycle
75.69 74.70 40.76 105.77 18.48
Days of Sales Outstanding
27.00 26.65 34.31 34.11 37.31
Days of Inventory Outstanding
68.83 67.94 82.74 92.86 88.17
Days of Payables Outstanding
20.15 19.88 76.29 21.20 107.00
Operating Cycle
95.84 94.59 117.05 126.96 125.48
Cash Flow Ratios
Operating Cash Flow Per Share
84.49 459.46 352.17 47.90 62.12
Free Cash Flow Per Share
33.68 211.60 167.81 11.05 20.09
CapEx Per Share
50.82 247.85 184.36 36.85 42.02
Free Cash Flow to Operating Cash Flow
0.40 0.46 0.48 0.23 0.32
Dividend Paid and CapEx Coverage Ratio
1.25 1.36 1.38 1.00 1.17
Capital Expenditure Coverage Ratio
1.66 1.85 1.91 1.30 1.48
Operating Cash Flow Coverage Ratio
2.31 2.41 1.74 1.30 1.81
Operating Cash Flow to Sales Ratio
0.60 0.62 0.63 0.57 0.71
Free Cash Flow Yield
2.08%2.22%2.59%0.35%0.88%
Valuation Ratios
Price-to-Earnings (P/E) Ratio
28.11 28.45 29.04 19.73 59.47
Price-to-Sales (P/S) Ratio
12.28 12.83 11.62 7.65 26.08
Price-to-Book (P/B) Ratio
8.92 9.14 7.92 4.78 20.05
Price-to-Free Cash Flow (P/FCF) Ratio
51.06 45.00 38.65 57.74 113.35
Price-to-Operating Cash Flow Ratio
20.36 20.72 18.42 13.32 36.67
Price-to-Earnings Growth (PEG) Ratio
3.24 0.57 0.81 -1.22 0.85
Price-to-Fair Value
8.92 9.14 7.92 4.78 20.05
Enterprise Value Multiple
16.90 17.30 16.40 10.53 36.78
Enterprise Value
43.34T 47.62T 32.55T 82.22T 58.60T
EV to EBITDA
15.91 17.30 16.40 53.97 36.78
EV to Sales
11.38 12.37 11.25 38.03 25.88
EV to Free Cash Flow
46.27 43.38 37.41 286.92 112.48
EV to Operating Cash Flow
18.69 19.98 17.83 66.20 36.38
Tangible Book Value Per Share
193.18 1.05K 820.17 133.46 113.17
Shareholders’ Equity Per Share
192.73 1.04K 818.49 133.40 113.60
Tax and Other Ratios
Effective Tax Rate
0.17 0.16 0.18 0.14 0.13
Revenue Per Share
140.02 741.96 558.15 83.37 87.31
Net Income Per Share
61.19 334.62 223.39 32.34 38.29
Tax Burden
0.84 0.84 0.82 0.86 0.87
Interest Burden
1.00 1.00 1.06 0.99 0.99
Research & Development to Revenue
0.06 0.06 0.07 0.08 0.07
SG&A to Revenue
0.02 0.00 0.03 0.03 0.02
Stock-Based Compensation to Revenue
<0.01 0.00 <0.01 <0.01 <0.01
Income Quality
1.30 1.37 1.56 1.48 1.41
Currency in TWD