TSMC (TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY) Financials TSMC (Taiwan Semiconductor Manufacturing Company) Nyse
Equities
TSM
US8740391003
Semiconductors
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 141.6 USD | +3.91% |
|
+2.36% | +36.12% |
| 03/05 | U.S. Regulator Bans Investors from Taiex Futures Trading Over 'Narrow-Based' Index Classification | MT |
| 03/05 | Investors flood into Taiwan ETFs on AI boom, unnerving some | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 85,82,956 | 1,37,43,101 | 1,59,47,184 | 1,16,29,776 | 1,53,77,718 | 2,02,29,324 | - | - |
| Enterprise Value (EV) 1 | 81,74,930 | 1,34,28,194 | 1,56,11,753 | 1,09,21,940 | 1,46,13,266 | 1,92,65,596 | 1,87,60,517 | 1,80,00,441 |
| P/E ratio | 24.8 x | 26.5 x | 26.7 x | 11.4 x | 18.3 x | 19.9 x | 16.1 x | 14 x |
| Yield | 2.87% | 1.89% | 1.79% | 2.45% | 2.19% | 1.89% | 2.12% | 2.52% |
| Capitalization / Revenue | 8.02 x | 10.3 x | 10 x | 5.14 x | 7.11 x | 7.41 x | 6.18 x | 5.42 x |
| EV / Revenue | 7.64 x | 10 x | 9.83 x | 4.82 x | 6.76 x | 7.06 x | 5.73 x | 4.82 x |
| EV / EBITDA | 12.4 x | 14.9 x | 14.6 x | 7.01 x | 10.1 x | 10.5 x | 8.35 x | 7.02 x |
| EV / FCF | 52.8 x | 42.6 x | 57.2 x | 20.7 x | 50 x | 29.7 x | 21.6 x | 14.9 x |
| FCF Yield | 1.89% | 2.35% | 1.75% | 4.83% | 2% | 3.37% | 4.62% | 6.73% |
| Price to Book | 5.29 x | 7.43 x | 7.35 x | 3.95 x | 4.45 x | 4.84 x | 4.01 x | 3.33 x |
| Nbr of stocks (in thousands) | 2,59,30,380 | 2,59,30,380 | 2,59,30,380 | 2,59,30,380 | 2,59,32,071 | 2,59,35,031 | - | - |
| Reference price 2 | 331.0 | 530.0 | 615.0 | 448.5 | 593.0 | 780.0 | 780.0 | 780.0 |
| Announcement Date | 16/01/20 | 14/01/21 | 13/01/22 | 12/01/23 | 18/01/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 10,69,985 | 13,39,255 | 15,87,415 | 22,63,891 | 21,61,740 | 27,29,503 | 32,71,664 | 37,31,044 |
| EBITDA 1 | 6,59,585 | 8,98,509 | 10,72,376 | 15,58,533 | 14,53,657 | 18,42,428 | 22,47,380 | 25,63,545 |
| EBIT 1 | 3,72,701 | 5,66,784 | 6,49,981 | 11,21,279 | 9,21,466 | 11,39,678 | 14,23,889 | 16,59,457 |
| Operating Margin | 34.83% | 42.32% | 40.95% | 49.53% | 42.63% | 41.75% | 43.52% | 44.48% |
| Earnings before Tax (EBT) 1 | 3,89,850 | 5,84,777 | 6,63,126 | 11,44,191 | 9,79,170 | 11,94,849 | 14,77,672 | 16,96,248 |
| Net income 1 | 3,45,264 | 5,17,885 | 5,96,540 | 10,16,530 | 8,38,498 | 10,16,767 | 12,64,255 | 14,48,568 |
| Net margin | 32.27% | 38.67% | 37.58% | 44.9% | 38.79% | 37.25% | 38.64% | 38.82% |
| EPS 2 | 13.32 | 19.98 | 23.01 | 39.20 | 32.34 | 39.10 | 48.43 | 55.80 |
| Free Cash Flow 1 | 1,54,720 | 3,15,430 | 2,72,965 | 5,27,927 | 2,92,150 | 6,49,713 | 8,67,609 | 12,10,697 |
| FCF margin | 14.46% | 23.55% | 17.2% | 23.32% | 13.51% | 23.8% | 26.52% | 32.45% |
| FCF Conversion (EBITDA) | 23.46% | 35.11% | 25.45% | 33.87% | 20.1% | 35.26% | 38.61% | 47.23% |
| FCF Conversion (Net income) | 44.81% | 60.91% | 45.76% | 51.93% | 34.84% | 63.9% | 68.63% | 83.58% |
| Dividend per Share 2 | 9.500 | 10.00 | 11.00 | 11.00 | 13.00 | 14.78 | 16.51 | 19.64 |
| Announcement Date | 16/01/20 | 14/01/21 | 13/01/22 | 12/01/23 | 18/01/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,14,671 | 4,38,189 | 4,91,076 | 5,34,141 | 6,13,142 | 6,25,532 | 5,08,633 | 4,80,841 | 5,46,733 | 6,25,529 | 11,72,262 | 5,92,644 | 6,46,089 | 12,18,146 | 7,23,413 | 7,81,994 | 14,94,882 | 7,24,683 |
| EBITDA 1 | 2,78,031 | 2,93,435 | 3,34,892 | 3,75,349 | 4,15,669 | 4,32,623 | 3,41,561 | 3,25,897 | 3,75,346 | 4,10,853 | - | 4,08,041 | 4,35,923 | - | 4,97,689 | 5,32,222 | - | 5,07,934 |
| EBIT 1 | 1,71,004 | 1,82,772 | 2,23,790 | 2,62,124 | 3,10,324 | 3,25,041 | 2,31,238 | 2,01,958 | 2,28,065 | 2,60,205 | - | 2,49,018 | 2,66,298 | - | 3,01,870 | 3,27,903 | - | 3,04,204 |
| Operating Margin | 41.24% | 41.71% | 45.57% | 49.07% | 50.61% | 51.96% | 45.46% | 42% | 41.71% | 41.6% | - | 42.02% | 41.22% | - | 41.73% | 41.93% | - | 41.98% |
| Earnings before Tax (EBT) 1 | 1,73,852 | 1,84,819 | 2,26,832 | 2,65,998 | 3,16,691 | 3,34,670 | 2,44,275 | 2,14,675 | 2,41,940 | 2,78,281 | - | 2,66,543 | 2,81,928 | - | 3,16,132 | 3,42,781 | - | 3,19,195 |
| Net income 1 | 1,56,259 | 1,66,232 | 2,02,733 | 2,37,027 | 2,80,866 | 2,95,904 | 2,06,987 | 1,81,799 | 2,11,000 | 2,38,712 | - | 2,25,485 | 2,27,989 | - | 2,71,322 | 2,97,060 | - | 2,73,225 |
| Net margin | 37.68% | 37.94% | 41.28% | 44.38% | 45.81% | 47.3% | 40.69% | 37.81% | 38.59% | 38.16% | - | 38.05% | 35.29% | - | 37.51% | 37.99% | - | 37.7% |
| EPS 2 | 6.030 | 6.410 | 7.820 | 9.140 | 10.83 | 11.41 | 7.980 | 7.010 | 8.140 | 9.210 | 17.35 | 8.700 | 8.793 | - | 10.46 | 11.46 | - | 10.53 |
| Dividend per Share 2 | 2.750 | 2.750 | 2.750 | 2.750 | 2.750 | 2.750 | 3.000 | 3.000 | 3.500 | 3.500 | - | 3.167 | 3.125 | - | 3.375 | 3.500 | - | 3.750 |
| Announcement Date | 14/10/21 | 13/01/22 | 14/04/22 | 14/07/22 | 13/10/22 | 12/01/23 | 20/04/23 | 20/07/23 | 19/10/23 | 18/01/24 | 18/01/24 | 18/04/24 | - | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 4,08,026 | 3,14,907 | 3,35,431 | 7,07,836 | 7,64,452 | 9,63,728 | 14,68,807 | 22,28,883 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 1,54,720 | 3,15,430 | 2,72,965 | 5,27,927 | 2,92,150 | 6,49,713 | 8,67,609 | 12,10,697 |
| ROE (net income / shareholders' equity) | 20.9% | 29.8% | 29.7% | 39.8% | 26.2% | 26.1% | 27% | 26% |
| ROA (Net income/ Total Assets) | 15.9% | 20.6% | 16.9% | 23.4% | 16% | 16.8% | 18% | 18% |
| Assets 1 | 21,77,470 | 25,12,761 | 35,28,908 | 43,45,141 | 52,48,584 | 60,58,656 | 70,28,865 | 80,60,923 |
| Book Value Per Share 2 | 62.50 | 71.30 | 83.60 | 114.0 | 133.0 | 161.0 | 194.0 | 234.0 |
| Cash Flow per Share 2 | 23.70 | 31.70 | 42.90 | 62.10 | 47.90 | 63.20 | 77.70 | 83.30 |
| Capex 1 | 4,60,420 | 5,07,239 | 8,39,196 | 10,82,672 | 9,49,820 | 9,50,421 | 10,82,605 | 11,52,585 |
| Capex / Sales | 43.03% | 37.87% | 52.87% | 47.82% | 43.94% | 34.82% | 33.09% | 30.89% |
| Announcement Date | 16/01/20 | 14/01/21 | 13/01/22 | 12/01/23 | 18/01/24 | - | - | - |
1TWD in Million2TWD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
BUY
Number of Analysts
30
Last Close Price
780
TWD
Average target price
913
TWD
Spread / Average Target
+17.05%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +79.29% | 2,185B | |
| +14.50% | 592B | |
| +2.16% | 243B | |
| +24.21% | 200B | |
| +4.96% | 163B | |
| -38.51% | 132B | |
| +34.40% | 127B | |
| +35.34% | 105B | |
| +0.54% | 99B |
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