T 
Taiwan Semiconductor Manufacturing TSM · USD
Information Technology · US listing · 🇺🇸 United States
375.44
+6.33%
Close of 6 Nov 2026, in USD
At a glance
Figures in USD, from our data supplier.
Revenue
$119.37bn
FY2016FY2025
Net income
$53.84bn
FY2016FY2025
Free cash flow
$34.04bn
FY2016FY2025
Shareholders' equity
$166.10bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $119.37bn | $89.77bn | $67.05bn | $70.22bn | $49.24bn | $41.54bn | $33.19bn | $31.99bn | $30.32bn | $29.40bn |
| Gross profit | $71.49bn | $50.38bn | $36.45bn | $41.82bn | $25.42bn | $22.06bn | $15.28bn | $15.44bn | $15.35bn | $14.73bn |
| Research and development | $7.72bn | $6.33bn | $5.66bn | $5.06bn | $3.87bn | $3.40bn | $2.84bn | $2.66bn | $2.50bn | $2.21bn |
| Operating income | $60.66bn | $41.01bn | $28.58bn | $34.78bn | $20.16bn | $17.58bn | $11.56bn | $11.90bn | $11.96bn | $11.72bn |
| Net income | $53.84bn | $35.93bn | $26.42bn | $30.80bn | $18.37bn | $15.84bn | $10.98bn | $11.26bn | $10.70bn | $10.29bn |
| Diluted earnings per share | 10.38 | 6.93 | 5.09 | 5.94 | 3.54 | 3.05 | 2.12 | 2.17 | 2.06 | 1.98 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $246.05bn | $207.56bn | $171.60bn | $153.99bn | $115.55bn | $85.63bn | $70.25bn | $64.83bn | $61.78bn | $58.51bn |
| Cash and short-term investments | $97.03bn | $75.12bn | $52.35bn | $49.21bn | $37.38bn | $24.88bn | $18.44bn | $22.14bn | $20.36bn | $19.73bn |
| Total liabilities | $78.68bn | $73.46bn | $63.56bn | $62.17bn | $48.22bn | $28.23bn | $19.93bn | $13.30bn | $15.42bn | $16.33bn |
| Debt | $33.02bn | $32.48bn | $29.75bn | $27.55bn | $22.49bn | $10.63bn | $4.92bn | $5.60bn | $6.64bn | $7.73bn |
| Shareholders' equity | $166.10bn | $134.10bn | $108.04bn | $91.82bn | $67.33bn | $57.40bn | $50.31bn | $51.50bn | $46.33bn | $42.15bn |
| Shares outstanding | 5,186m | 5,186m | 5,186m | 5,186m | 5,186m | 5,186m | 5,186m | 5,186m | 5,186m | 5,186m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $73.92bn | $56.64bn | $38.52bn | $49.96bn | $34.50bn | $25.52bn | $19.08bn | $17.80bn | $18.15bn | $16.74bn |
| Capital spending | −$39.87bn | −$29.65bn | −$29.63bn | −$33.80bn | −$26.35bn | −$16.17bn | −$14.57bn | −$10.01bn | −$10.42bn | −$10.33bn |
| Free cash flow | $34.04bn | $26.99bn | $8.89bn | $16.16bn | $8.15bn | $9.34bn | $4.51bn | $7.79bn | $7.74bn | $6.41bn |
| Dividends paid | −$14.63bn | −$11.26bn | −$9.05bn | −$8.85bn | −$8.24bn | −$8.04bn | −$8.04bn | −$6.43bn | −$5.63bn | −$4.83bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $39.40bn | $35.18bn | $32.75bn | $30.70bn | $28.96bn | $26.03bn | $26.94bn | $23.56bn |
| Gross profit | $26.68bn | $23.30bn | $20.41bn | $18.25bn | $16.98bn | $15.30bn | $15.89bn | $13.63bn |
| Operating income | $23.78bn | $20.39bn | $17.65bn | $15.53bn | $14.37bn | $12.63bn | $13.20bn | $11.19bn |
| Net income | $21.92bn | $17.76bn | $15.83bn | $14.03bn | $12.35bn | $11.21bn | $11.62bn | $10.09bn |
| Diluted earnings per share | 4.23 | 3.42 | 3.05 | 2.71 | 2.38 | 2.16 | 2.24 | 1.95 |
| Cash from operations | $24.30bn | $22.69bn | $23.01bn | $13.24bn | $15.42bn | $19.40bn | $19.24bn | $12.16bn |
| Capital spending | −$15.38bn | −$10.99bn | −$10.97bn | −$8.91bn | −$9.29bn | −$10.26bn | −$11.23bn | −$6.45bn |
| Free cash flow | $8.91bn | $11.70bn | $12.04bn | $4.32bn | $6.13bn | $9.14bn | $8.01bn | $5.71bn |
| Total assets | $290.80bn | $268.58bn | $245.36bn | $228.10bn | $217.31bn | $221.25bn | $207.56bn | $191.24bn |
| Cash and short-term investments | $109.12bn | $104.93bn | $94.91bn | $85.33bn | $83.24bn | $85.69bn | $75.12bn | $67.23bn |
| Debt | $30.47bn | $32.90bn | $33.01bn | $31.81bn | $31.42bn | $33.43bn | $32.48bn | $31.74bn |
| Shareholders' equity | $199.52bn | $182.68bn | $167.63bn | $155.03bn | $142.09bn | $141.57bn | $133.02bn | $123.86bn |
Financial ratios
Data as of 27 Aug 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 59.9% | 56.1% | 54.4% | 59.6% | 51.6% | 53.1% |
| Operating margin | 50.8% | 45.7% | 42.6% | 49.5% | 40.9% | 42.3% |
| Net margin | 45.1% | 40.0% | 39.4% | 43.9% | 37.3% | 38.1% |
| Return on equity | 32.4% | 26.8% | 24.5% | 33.5% | 27.3% | 27.6% |
| Return on assets | 21.9% | 17.3% | 15.4% | 20.0% | 15.9% | 18.5% |
| Free cash flow yield | 169.4% | 128.4% | 101.4% | 124.7% | 90.6% | 62.1% |
| Revenue growth | 33.0% | 33.9% | -4.5% | 42.6% | 18.5% | 25.2% |
| Earnings growth | 49.8% | 36.0% | -14.2% | 67.6% | 16.0% | 44.3% |
| Current ratio | 2.51x | 2.44x | 2.40x | 2.17x | 2.17x | 1.77x |
| Debt to equity | 0.19x | 0.23x | 0.27x | 0.29x | 0.33x | 0.19x |
| Equity ratio | 67.5% | 64.6% | 63.0% | 59.6% | 58.3% | 67.0% |
| Interest coverage | 158.09x | 125.96x | 76.79x | 95.43x | 120.05x | 272.30x |
| R&D as a share of sales | 6.5% | 7.1% | 8.4% | 7.2% | 7.9% | 8.2% |
| Buybacks as a share of market value | -0.0% | 0.0% | -0.0% | 0.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 19.3% | 23.5% | 16.4% |
| Operating income | 20.4% | 28.1% | 19.8% |
| Net income | 20.5% | 27.7% | 19.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 58.3% | 57.8% | 56.6% | 54.6% |
| Operating margin | 48.6% | 47.6% | 46.4% | 44.2% |
| Net margin | 42.9% | 42.4% | 41.4% | 39.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 29.3 | 28.5 | 20.4 | 12.5 | 34.0 | 35.7 | 27.4 | 17.0 | 19.2 | 14.5 |
| Price to sales | 13.2 | 11.4 | 8.0 | 5.5 | 12.7 | 13.6 | 9.1 | 6.0 | 6.8 | 5.1 |
Market value over time
30 Sept 2016 to 26 Aug 2026, in USD
$158.64bn$2.17trn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 46% | 88% | 36% | -34% | 10% | 81% | 61% | -9% | 35% | 33% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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