Taiwan Semiconductor Manufacturing Co Ltd
TSM—
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Taiwan Semiconductor Manufacturing Co Ltd AI Insights
Informational only. Not investment advice.Snapshot
- Operating margin 49.5% TTM on 3.6T TWD revenue - exceptional scale economics with gross margin 59% enabling massive R&D reinvestment (238.8B TTM).[Operating Margin TTM]
- ROIC 31.5% TTM despite 1.3T capex - capital intensity generating 35% ROE with only 0.19 debt/equity leverage.[Return on Invested Capital TTM]
- Revenue +30% 1Y growth with EPS +40% - operating leverage accelerating as node leadership compounds.[Total Revenue 1Y Growth]
Watch Triggers
- Gross Margin TTM: Falls below 55% — Signals pricing pressure or cost inflation eroding node leadership premium
- Capital Expenditure TTM: Exceeds 40% of revenue — Indicates capacity overbuild risk or technology transition challenges
- Total Revenue 1Y Growth: Decelerates below 15% — AI demand normalization or customer inventory correction signal
Bull Case
Monopoly on advanced nodes (<5nm) with 90%+ market share creates pricing power - 59% gross margin TTM despite massive capex cycle.
Gross Margin TTMOperating Margin TTMCapital Expenditure TTM
2.5T TWD cash with 0.19 debt/equity funds expansion without dilution while paying 90 TWD/share dividend TTM.
Cash and EquivalentsDebt to EquityDividends Paid Per Share TTM
Bear Case
Taiwan geopolitical risk unquantifiable - 100% of advanced production concentrated in single geography with no near-term diversification.
PPETotal Assets
1.3T capex TTM (35% of revenue) creates FCF pressure - 883B FCF only 24% of operating cash flow as expansion consumes capital.
Free Cash Flow TTMCapital Expenditure TTMCash Flow TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
55%
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Forward Thesis
AI chip demand sustains 20%+ revenue growth through 2028 as advanced node capacity remains constrained.
1-3yhigh
- 3nm/2nm capacity sold out through 2027
- CoWoS packaging bottleneck persists
- Hyperscaler capex acceleration
30% revenue growth TTM accelerating1.3T capex TTM expanding capacity59% gross margin pricing power
Valuation Context
Caveats
Public Strategies Rankings
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TSM Fundamentals
Unknown Industry
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$1.76T | — | ||
$55.17B | — | ||
1.0 | — | ||
$3.81T | +31.6% | — | |
$331.25 | +48.0% | — | |
50.8% | +5.2% | — | |
45.1% | +5.1% | — | |
$992.38B | +15.2% | — | |
35.4% | +5.2% | — | |
Beta 5Y (Monthly) | unknown | — |
TSM Dividend History
44 dividends
2026
$1.906106/11/26$0.9503
03/17/26$0.9557
2025
$3.075412/11/25$0.7954
09/16/25$0.8220
06/12/25$0.7803
03/18/25$0.6777
2024
$2.318512/12/24$0.6081
09/12/24$0.6248
06/13/24$0.5399
03/18/24$0.5456
2023
$1.836112/14/23$0.4832
09/14/23$0.4651
06/15/23$0.4390
03/16/23$0.4488
2022
$1.819412/15/22$0.4473
09/15/22$0.4349
06/16/22$0.4616
03/16/22$0.4756
2021
$1.879112/16/21$0.4970
09/16/21$0.4967
06/17/21$0.4456
03/17/21$0.4398
2020
$1.722112/17/20$0.4464
09/17/20$0.4350
06/18/20$0.4239
03/19/20$0.4167
2019
$2.005612/19/19$0.4100
09/19/19$0.3200
06/24/19$1.2756
2018
$1.345406/25/18$1.3454
2017
$1.159306/26/17$1.1593
2016
$0.939406/27/16$0.9394
2015
$0.722806/29/15$0.7228
2014
$0.499507/14/14$0.4995
2013
$0.501907/03/13$0.5019
2012
$0.497407/05/12$0.4974
2011
$0.518306/29/11$0.5183
2010
$0.372707/06/10$0.3727
2009
$0.362107/15/09$0.3621
2008
$0.390507/16/08$0.3905
2007
$0.451706/08/07$0.4517
2006
$0.377706/20/06$0.3777
2005
$0.304806/13/05$0.3048
2004
$0.065506/14/04$0.0655
TSM Stock Splits
10 stock splits
07/15/091:1.005 split
07/16/081:1.005 split
06/08/071:1.005 split
06/20/061:1.03 split
06/13/051:1.05 split
06/14/041:1.141 split
07/07/031:1.08 split
06/19/0210:11 split
06/26/015:7 split
05/15/001:1.28 split
TSM SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/26/26 | 12/31/25 | 6-K | |
11/12/25 | 09/30/25 | 6-K | |
10/16/25 | 09/30/25 | 6-K | |
11/14/25 | 09/30/25 | 6-K | |
08/12/25 | 06/30/25 | 6-K | |
08/14/25 | 06/30/25 | 6-K | |
07/17/25 | 06/30/25 | 6-K | |
05/13/25 | 03/31/25 | 6-K | |
05/15/25 | 03/31/25 | 6-K | |
04/17/25 | 12/31/24 | 20-F | |
01/14/25 | 12/31/24 | 6-K | |
11/14/24 | 09/30/24 | 6-K | |
08/14/24 | 06/30/24 | 6-K | |
05/15/24 | 03/31/24 | 6-K | |
04/17/25 | 12/31/23 | 20-F | |
01/14/25 | 12/31/23 | Quarterly | |
04/18/24 | 12/31/23 | 20-F | |
11/14/23 | 09/30/23 | 6-K | |
08/14/23 | 06/30/23 | 6-K | |
05/12/23 | 03/31/23 | 6-K | |
04/17/25 | 12/31/22 | 20-F | |
04/20/23 | 12/31/22 | 20-F | |
11/14/22 | 09/30/22 | 6-K | |
08/12/22 | 06/30/22 | 6-K | |
05/13/22 | 03/31/22 | 6-K | |
04/14/22 | 12/31/21 | 20-F | |
11/12/21 | 09/30/21 | 6-K | |
10/18/21 | 06/30/21 | 6-K | |
05/14/21 | 03/31/21 | 6-K | |
04/16/21 | 12/31/20 | 20-F | |
11/13/20 | 09/30/20 | 6-K | |
08/13/21 | 06/30/20 | 6-K | |
08/14/20 | 06/30/20 | 6-K | |
05/14/20 | 03/31/20 | 6-K | |
01/14/20 | 12/31/19 | Quarterly | |
11/19/19 | 09/30/19 | 6-K | |
08/19/19 | 06/30/19 | 6-K | |
05/20/19 | 03/31/19 | 6-K | |
01/14/20 | 12/31/18 | Quarterly | |
11/16/18 | 09/30/18 | 6-K | |
08/17/18 | 06/30/18 | 6-K | |
05/07/18 | 03/31/18 | 6-K | |
04/19/18 | 12/31/17 | 20-F | |
11/16/17 | 09/30/17 | 6-K | |
08/14/17 | 06/30/17 | 6-K | |
05/15/17 | 03/31/17 | 6-K | |
04/13/17 | 12/31/16 | 20-F | |
11/15/16 | 09/30/16 | 6-K | |
08/11/16 | 06/30/16 | 6-K | |
05/17/16 | 03/31/16 | 6-K | |
04/11/16 | 12/31/15 | 20-F | |
11/13/15 | 09/30/15 | 6-K | |
08/14/15 | 06/30/15 | 6-K | |
05/15/15 | 03/31/15 | 6-K | |
04/13/15 | 12/31/14 | 20-F | |
11/14/14 | 09/30/14 | 6-K | |
08/19/14 | 06/30/14 | 6-K | |
05/19/14 | 03/31/14 | 6-K | |
04/14/14 | 12/31/13 | 20-F | |
11/15/13 | 09/30/13 | 6-K | |
08/16/13 | 06/30/13 | 6-K | |
05/20/13 | 03/31/13 | 6-K | |
04/02/13 | 12/31/12 | 20-F | |
11/02/12 | 09/30/12 | 6-K | |
09/04/12 | 06/30/12 | 6-K | |
05/04/12 | 03/31/12 | 6-K | |
04/13/12 | 12/31/11 | 20-F | |
11/01/11 | 09/30/11 | 6-K | |
08/30/11 | 06/30/11 | 6-K | |
05/05/11 | 03/31/11 | 6-K | |
04/15/11 | 12/31/10 | 20-F | |
11/08/10 | 09/30/10 | 6-K | |
09/01/10 | 06/30/10 | 6-K | |
05/05/10 | 03/31/10 | 6-K | |
04/15/10 | 12/31/09 | 20-F | |
11/06/09 | 09/30/09 | 6-K | |
07/31/09 | 06/30/09 | 6-K | |
05/05/09 | 03/31/09 | 6-K | |
04/17/09 | 12/31/08 | 20-F | |
09/30/08 | 09/30/08 | Unknown | -- |
06/30/08 | 06/30/08 | 6-K | |
03/31/08 | 03/30/08 | Unknown | -- |
04/15/08 | 12/31/07 | 6-K | |
09/30/07 | 09/30/07 | Unknown | -- |
06/30/07 | 06/30/07 | Unknown | -- |
03/31/07 | 03/30/07 | Unknown | -- |
04/20/07 | 12/31/06 | 20-F | |
09/30/06 | 09/30/06 | Unknown | -- |
06/30/06 | 06/30/06 | Unknown | -- |
03/31/06 | 03/30/06 | Unknown | -- |
04/20/06 | 12/31/05 | 20-F | |
09/30/05 | 09/30/05 | Unknown | -- |
06/30/05 | 06/30/05 | Unknown | -- |
03/31/05 | 03/30/05 | Unknown | -- |
05/16/05 | 12/31/04 | 20-F | |
09/30/04 | 09/30/04 | Unknown | -- |
06/30/04 | 06/30/04 | Unknown | -- |
03/31/04 | 03/30/04 | Unknown | -- |
05/28/04 | 12/31/03 | 20-F | |
09/30/03 | 09/30/03 | Unknown | -- |
06/30/03 | 06/30/03 | Unknown | -- |
03/31/03 | 03/30/03 | Unknown | -- |
06/23/03 | 12/31/02 | 20-F | |
09/30/02 | 09/30/02 | Unknown | -- |
06/30/02 | 06/30/02 | Unknown | -- |
03/31/02 | 03/30/02 | Unknown | -- |
06/27/02 | 12/31/01 | 20-F | |
09/30/01 | 09/30/01 | Unknown | -- |
06/30/01 | 06/30/01 | Unknown | -- |
03/31/01 | 03/30/01 | Unknown | -- |
12/31/00 | 12/31/00 | Unknown | -- |
09/30/00 | 09/30/00 | Unknown | -- |
06/30/00 | 06/30/00 | Unknown | -- |
03/31/00 | 03/30/00 | Unknown | -- |