PerpEquities

Taiwan Semiconductor (TSMC) financials

TAI · Technology · Semiconductors · 76,907 employees · CEO Che Chia Wei

Price
NT$2,330.00 -1.69%
Market cap
NT$60.4T
Enterprise value
NT$57.8T
Last report
Q3 '26 filed 2026-09-30
Next report
2027-01-21 EPS est. NT$33.00
Revenue (TTM)NT$4.94T+36.2% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)57.9%+8.4 pp vs a year agoOperating income NT$2.86T
Net income (TTM)NT$2.55T+60.6% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)NT$1.5T+72.0% vs a year agoCapex NT$1.71T
Diluted EPS (TTM)NT$98.26+60.6% vs a year agoSum of the last 4 quarters
Net cashNT$3.03T+70.5% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap
NT$60.4T
EV NT$57.8T
Revenue
NT$4.94T
Trailing 12 months
Revenue growth
+47%
FY2026 consensus
Profit margin
51.5%
Net income / revenue, TTM
P/E
23.7×
Forward 20.9× (FY2026)
P/S
12.2×
Price / sales, TTM
EV / EBITDA
15.8×
TTM
Free cash flow
NT$1.5T
Trailing 12 months
Net income
NT$2.55T
Trailing 12 months
Revenue estimate
NT$5.6T
FY2026 consensus
Earnings
2027-01-21
Revenue est. NT$1.71T
Dividend
NT$22.00
Per share, last 12 months

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

  • Last report (2026-10-15): revenue beat by 2.1%, EPS beat by 3.1%Revenue NT$1.49T vs NT$1.46T expected (+2.1%); EPS NT$29.43 vs NT$28.55 (+3.1%).
  • Revenue growth accelerating: 50.9% year on yearQ3 '26 revenue NT$1.49T, against an average of 30.5% over the four quarters before.
  • Operating margin 57.9% (TTM), +8.4 pp on a year agoOperating income grew 59.3% while revenue grew 36.2%.
  • Capex 34.6% of revenue (a year ago 36.3%)NT$1.71T invested in the last 4 quarters (+29.7% on a year earlier). Free cash flow NT$1.5T = 59.0% of net income.
  • Returned NT$571B to shareholders = 38.0% of free cash flowBuybacks NT$0 (a year earlier NT$23K), dividends NT$571B, stock-based pay NT$0 (TTM).
  • Diluted share count up 0.0% in a year25.9B diluted shares in Q3 '26, 25.9B a year earlier.
  • Net cash NT$3.03TCash + short-term investments NT$4.02T, debt incl. leases NT$984B; a year ago net cash NT$1.78T.

Last quarter: Q3 '26

Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

Q3 '26Year agoChange
RevenueNT$1.49TNT$990B+50.9%
Gross margin66.4%59.5%+7.0 pp
Operating incomeNT$876BNT$501B+74.9%
Operating margin58.6%50.6%+8.0 pp
Net incomeNT$763BNT$452B+68.7%
Diluted EPSNT$29.43NT$17.44+68.7%
Operating cash flowNT$957BNT$427B+124.3%
CapexNT$434BNT$287B+51.1%
Free cash flowNT$523BNT$139B+275.2%
R&DNT$89BNT$63.7B+39.6%
Stock-based compensationNT$0NT$273M-100.0%

Reported vs consensus

2026-10-15
ActualConsensusvs consensus
RevenueNT$1.49TNT$1.46T+2.1%
EPS (as estimated)NT$29.43NT$28.55+3.1%

From the report of 2026-10-15 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement
Operating cash flow
NT$3.21T
Capex
-NT$1.71T
Buybacks
NT$0
Dividends
-NT$571B
Acquisitions
-NT$2.66B
Net debt issued
NT$15B
Stock-based compensation
NT$0
Free cash flow
NT$1.5T
Returned to shareholders / FCF
38.0%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years
Now5y averageWhere today sits in the 5-year range
P/E (TTM)23.7×20.7×11.4× – 26.7×
EV / EBITDA15.8×11.6×7.0× – 14.3×
EV / Sales11.7×8.2×4.9× – 10.1×
Price / FCF40.2×41.2×22.3× – 60.7×
Price / Book8.6×6.0×4.0× – 7.4×
FCF yield2.5%2.8%1.6% – 4.5%
Return on invested capital28.8%21.0%17.1% – 24.6%
Return on equity41.2%29.0%24.4% – 34.2%

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal yearRevenueGrowthEPSGrowthP/E at today's priceAnalysts (EPS)
FY2026NT$5.6T+47.1%NT$111.67+68.6%20.9×33
FY2027NT$7.73T+38.0%NT$149.66+34.0%15.6×35
FY2028NT$9.76T+26.2%NT$190.31+27.2%12.2×27
FY2029NT$11.7T+20.2%NT$194.00+1.9%12.0×12

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpenBalance sheetCash, investments, assets, debt, liabilities and equityOpenCash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-02