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TSMC
(NYSE:TSM)
TSMC (TSM) vs. SPDR S&P 500 ETF (SPY)
TSMC Business Overview & Revenue Model
TSMC Key Performance Indicators (KPIs)
Breaks down revenue by technology type, providing insight into which innovations are most profitable and where the company might invest in further development.
The FlyTSMC Earnings Call Summary
TSMC Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.85T | 2.89T | 2.16T | 2.26T | 1.59T |
| Gross Profit | 2.30T | 1.62T | 1.18T | 1.35T | 819.54B |
| EBITDA | 2.75T | 1.98T | 1.52T | 1.59T | 1.09T |
| Net Income | 1.74T | 1.16T | 851.74B | 992.92B | 592.36B |
Balance Sheet | |||||
| Total Assets | 7.91T | 6.69T | 5.53T | 4.96T | 3.73T |
| Cash, Cash Equivalents and Short-Term Investments | 3.06T | 2.49T | 1.71T | 1.59T | 1.20T |
| Total Debt | 990.36B | 1.05T | 956.26B | 888.17B | 753.63B |
| Total Liabilities | 2.47T | 2.41T | 2.08T | 2.05T | 1.57T |
| Stockholders Equity | 5.40T | 4.24T | 3.43T | 2.90T | 2.15T |
Cash Flow | |||||
| Free Cash Flow | 1.10T | 870.17B | 286.57B | 520.97B | 262.72B |
| Operating Cash Flow | 2.38T | 1.83T | 1.24T | 1.61T | 1.11T |
| Investing Cash Flow | -1.26T | -864.84B | -906.12B | -1.19T | -836.37B |
| Financing Cash Flow | -425.58B | -346.30B | -204.89B | -200.24B | 136.61B |
TSMC Technical Analysis
TSMC Risk Analysis
TSMC Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $1.47T | 31.83 | 36.46% | 0.82% | 39.73% | 56.22% | |
81 Outperform | $556.12B | 54.43 | 51.52% | 0.63% | 24.91% | 39.95% | |
77 Outperform | $263.82B | 38.42 | 35.51% | 0.69% | 4.47% | 0.48% | |
73 Outperform | $410.32B | 124.91 | 5.32% | ― | 31.83% | 80.45% | |
63 Neutral | $26.34B | -549.04 | -0.38% | ― | 0.25% | -106.22% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | $219.43B | -595.60 | -0.25% | ― | -1.49% | ― |
TSMC Corporate Events
On January 15, 2026, TSMC reported strong financial results for the fourth quarter of 2025, with consolidated revenue rising 20.5% year-on-year to NT$1,046.09 billion and net income jumping 35% to NT$505.74 billion, equivalent to earnings per share of NT$19.50. Margins remained robust, with gross margin at 62.3% and net profit margin at 48.3%, supported by sustained demand for advanced nodes, as 7-nanometer and smaller technologies accounted for 77% of wafer revenue—driven particularly by 3nm and 5nm processes. In U.S. dollar terms, quarterly revenue reached $33.73 billion, up 25.5% from a year earlier, underscoring TSMC’s strengthening profitability and competitive position at the leading edge of semiconductor manufacturing. Looking ahead, management signaled continued confidence in demand for its leading-edge technologies by forecasting further revenue growth and higher margins in the first quarter of 2026, and outlining an aggressive 2026 capital budget of US$52–56 billion, a level of investment that highlights both the capital intensity of advanced chipmaking and TSMC’s intent to consolidate its technological and capacity leadership for customers and stakeholders.
The most recent analyst rating on (TSM) stock is a Buy with a $410.00 price target. To see the full list of analyst forecasts on TSMC stock, see the TSM Stock Forecast page.
On January 9, 2026, TSMC reported that its consolidated net revenue for December 2025 was NT$335.0 billion, down 2.5% from November 2025 but up 20.4% from December 2024, while full‑year 2025 revenue rose 31.6% year on year to NT$3,809.1 billion, underscoring strong growth momentum despite a minor month‑to‑month dip. The company also disclosed intra‑group financing and guarantees, including outstanding loans from TSMC China and TSMC Development to wholly owned subsidiaries in Nanjing and Washington, and guarantees extended to units such as TSMC North America and TSMC Global, highlighting continued capital support for its overseas operations and capacity expansion, which is significant for customers and investors tracking the foundry’s global build‑out and financial exposure to subsidiaries.
The most recent analyst rating on (TSM) stock is a Buy with a $380.00 price target. To see the full list of analyst forecasts on TSMC stock, see the TSM Stock Forecast page.
On January 6, 2026, TSMC announced a management change at its major U.S. subsidiary, TSMC Arizona Corporation, appointing Senior Director Gina Proctor as Treasurer effective the same day. The move highlights TSMC’s continued build-out and formalization of its financial leadership structure in Arizona, a key geography for its overseas capacity expansion and strategic positioning in the U.S. semiconductor supply chain.
The most recent analyst rating on (TSM) stock is a Buy with a $360.00 price target. To see the full list of analyst forecasts on TSMC stock, see the TSM Stock Forecast page.
In a report for November 2025, TSMC disclosed minor shareholding increases by two vice presidents, Geoffrey Yeap and Jonathan Lee, while confirming there were no new share pledges by directors, executives or major shareholders. The company reported fresh investments of NT$18.6 billion in fixed-income instruments and NT$0.6 billion in equity, and its board approved significant capital appropriations totaling US$15.1 billion for advanced technology production capacity, advanced packaging and mature/specialty capacity, R&D-related capital expenditure, and real estate and leased assets, underscoring continued large-scale expansion of manufacturing and research infrastructure. TSMC and its subsidiaries also issued three tranches of unsecured NT-dollar bonds in November 2025, raising a combined NT$23.5 billion at low coupon rates with bullet repayment structures, and the board approved the cancellation of 91,000 reclaimed employee restricted shares with a corresponding paid-in capital reduction effective as of the November 11, 2025 record date, signaling ongoing optimization of the company’s capital structure and funding mix.
The most recent analyst rating on (TSM) stock is a Buy with a $390.00 price target. To see the full list of analyst forecasts on TSMC stock, see the TSM Stock Forecast page.
On December 19, 2025, TSMC reported that its major U.S. subsidiary, TSMC Arizona Corporation, acted by written consent in lieu of an annual shareholder meeting to approve routine corporate governance matters. The Arizona unit’s shareholders confirmed the election of Ray Chuang, Rose Castanares, Shu-Hua (Sylvia) Fang and Jen-Chau (Wendell) Huang as directors, with the result that the board composition remains unchanged, signaling continuity in oversight and management as TSMC continues to build out its strategic manufacturing presence in the United States.
The most recent analyst rating on (TSM) stock is a Buy with a $390.00 price target. To see the full list of analyst forecasts on TSMC stock, see the TSM Stock Forecast page.
TSMC reported its net revenue for November 2025, which was approximately NT$343.61 billion, marking a 6.5% decrease from October 2025 but a 24.5% increase from November 2024. The cumulative revenue from January to November 2025 reached NT$3,474.05 billion, reflecting a 32.8% increase compared to the same period in 2024. This revenue growth highlights TSMC’s strong market performance and its pivotal role in the semiconductor industry, despite the monthly decline.
The most recent analyst rating on (TSM) stock is a Buy with a $330.00 price target. To see the full list of analyst forecasts on TSMC stock, see the TSM Stock Forecast page.
On August 12, 2025, TSMC’s Board of Directors approved a cash dividend distribution of NT$129,662,912,605, equating to NT$5.0 per common share for the second quarter of 2025. However, due to changes in the number of common shares outstanding from the reclamation of shares, the dividend per share has been slightly adjusted to NT$5.00001118. This adjustment reflects TSMC’s commitment to precise financial management and shareholder value, with the dividend set to be paid on January 8, 2026.
The most recent analyst rating on (TSM) stock is a Buy with a $390.00 price target. To see the full list of analyst forecasts on TSMC stock, see the TSM Stock Forecast page.
On November 25th, 2025, TSMC filed a lawsuit against its former Senior Vice President, Wei-Jen Lo, in the Intellectual Property and Commercial Court. The lawsuit alleges that Lo violated his Non-compete and Non-disclosure Agreements by joining Intel as Executive Vice President shortly after retiring from TSMC, potentially risking the exposure of TSMC’s trade secrets. This legal action underscores TSMC’s commitment to protecting its intellectual property and maintaining its competitive edge in the semiconductor industry.
The most recent analyst rating on (TSM) stock is a Buy with a $390.00 price target. To see the full list of analyst forecasts on TSMC stock, see the TSM Stock Forecast page.
In November 2025, TSMC reported several changes affecting its operations and stakeholders. Notably, there were changes in the shareholdings of its board members and executive officers, with a decrease in shares held by Senior Vice President Lora Ho and a slight increase for Vice President Geoffrey Yeap. Additionally, TSMC and its subsidiaries engaged in significant fixed-income investments, acquiring NT$31.3 billion and disposing of NT$0.3 billion. These developments reflect TSMC’s ongoing strategic adjustments and financial maneuvers within the semiconductor sector.
The most recent analyst rating on (TSM) stock is a Buy with a $390.00 price target. To see the full list of analyst forecasts on TSMC stock, see the TSM Stock Forecast page.
On November 14, 2025, TSMC released its consolidated financial statements for the nine months ending September 30, 2025, and 2024, accompanied by an independent auditors’ review report. The report, conducted by Deloitte & Touche, concluded that the financial statements fairly present the company’s financial position and performance in accordance with Taiwan’s financial reporting standards. This announcement reinforces TSMC’s transparency and compliance with financial regulations, potentially strengthening stakeholder confidence.
The most recent analyst rating on (TSM) stock is a Buy with a $360.00 price target. To see the full list of analyst forecasts on TSMC stock, see the TSM Stock Forecast page.
On November 11, 2025, TSMC’s Board of Directors approved the company’s third-quarter financial results, reporting consolidated revenue of NT$989.92 billion and a net income of NT$452.30 billion. The Board also declared a cash dividend of NT$6.0 per share for the third quarter, with distribution scheduled for April 9, 2026. Additionally, TSMC announced capital appropriations of approximately US$14,981.60 million to support its long-term capacity plans, including fab construction and advanced technology installations. The company also approved the sale of equipment valued between US$20 million and US$23 million to its affiliate, Vanguard International Semiconductor Corporation. These decisions reflect TSMC’s strategic focus on expanding its technological capabilities and maintaining its leadership in the semiconductor industry.
The most recent analyst rating on (TSM) stock is a Buy with a $360.00 price target. To see the full list of analyst forecasts on TSMC stock, see the TSM Stock Forecast page.
TSMC reported a significant increase in its net revenue for October 2025, reaching approximately NT$367.47 billion, which marks an 11.0% rise from September 2025 and a 16.9% increase from October 2024. The company’s revenue from January to October 2025 totaled NT$3,130.44 billion, a substantial 33.8% growth compared to the same period in 2024. This growth highlights TSMC’s strong market position and operational efficiency, reflecting positively on its financial performance and potentially benefiting stakeholders.
The most recent analyst rating on (TSM) stock is a Buy with a $360.00 price target. To see the full list of analyst forecasts on TSMC stock, see the TSM Stock Forecast page.
On November 5, 2025, TSMC North America, a significant subsidiary of TSMC, announced a leadership change with the election of Sajiv Dalal as the new CEO, effective January 1, 2026. This strategic move is expected to strengthen TSMC’s operations in North America, potentially enhancing its market position and stakeholder relations in the region.
The most recent analyst rating on (TSM) stock is a Buy with a $360.00 price target. To see the full list of analyst forecasts on TSMC stock, see the TSM Stock Forecast page.
On October 23, 2025, TSMC reported several significant changes and activities for September 2025, including alterations in the shareholdings of its board members and major shareholders, asset acquisitions and dispositions, capital appropriations, issuance of unsecured bonds, and the cancellation of common shares. These developments reflect TSMC’s ongoing strategic adjustments and financial maneuvers, which are likely to impact its operational efficiency and market positioning.
The most recent analyst rating on (TSM) stock is a Buy with a $345.00 price target. To see the full list of analyst forecasts on TSMC stock, see the TSM Stock Forecast page.