TSMC - Public Comps and Valuation Multiples

TSMC Overview

About TSMC

Taiwan Semiconductor Manufacturing Co. is the world's largest dedicated chip foundry, with mid-60s market share in 2024. TSMC was founded in 1987 as a joint venture of Philips, the government of Taiwan, and private investors. It went public in Taiwan in 1994 and as an ADR in the US in 1997. TSMC's scale and high-quality technology allow the firm to generate solid operating margins, even in the highly competitive foundry business. Furthermore, the shift to the fabless business model has created tailwinds for TSMC. The foundry leader has an illustrious base of customers, including Apple, AMD, and Nvidia, that look to apply its cutting-edge process technologies to their semiconductor designs. TSMC employs more than 83,000 people.

Founded

1987

HQ

Employees

70.0K+

Website

tsmc.com

Sectors

Semiconductors
Electronic Components
DeepTech

Financials

Last FY Revenue $92.5B

Last FY EBITDA $66.5B

EV

$1.25T

Valuation Multiples

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TSMC Financials

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TSMC P&L

In the most recent fiscal year, TSMC reported revenue of $92.5B and EBITDA of $66.5B.

TSMC expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue	XXX	$92.5B	XXX	XXX	XXX
Gross Profit	XXX	$51.9B	XXX	XXX	XXX
Gross Margin	XXX	56%	XXX	XXX	XXX
EBITDA	XXX	$66.5B	XXX	XXX	XXX
EBITDA Margin	XXX	72%	XXX	XXX	XXX
EBIT	XXX	$42.3B	XXX	XXX	XXX
EBIT Margin	XXX	46%	XXX	XXX	XXX
Net Profit	XXX	$37.0B	XXX	XXX	XXX
Net Margin	XXX	40%	XXX	XXX	XXX
Net Debt	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for TSMC including revenue, profitability, and margin analysis across different time periods. In the most recent fiscal year, TSMC achieved $92.5B in revenue and $66.5B in EBITDA.
Financial Metric	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2026)	Next Fiscal Year (2027)	Two Years Forward (2028)
Total Revenue	Analyst estimates available to subscribers	$92.5B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	Analyst estimates available to subscribers	$51.9B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	Analyst estimates available to subscribers	56.1% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	Analyst estimates available to subscribers	$66.5B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	Analyst estimates available to subscribers	71.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	Analyst estimates available to subscribers	$42.3B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	Analyst estimates available to subscribers	45.7% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	Analyst estimates available to subscribers	$37.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	Analyst estimates available to subscribers	40.0% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for TSMC

This financial data table provides comprehensive performance metrics for TSMC, a company based in Taiwan. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Fiscal Year Performance

In the most recent fiscal year, TSMC reported $92.5B in total revenue.
Fiscal year EBITDA was $66.5B.
The company maintained a gross profit margin of 56.1% in the most recent fiscal year.
EBITDA margin for the fiscal year was 71.8%.
Net profit margin reached 40.0% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for TSMC. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

TSMC Stock Performance

TSMC has current market cap of TWD 41.10T (or $1.31T), and EV of TWD 39.25T (or $1.25T).

Market Cap Evolution

TSMC Stock Data

As of January 5, 2026, TSMC's stock price is TWD 1585 (or $51).

See TSMC trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$1.25T	$1.31T	XXX	XXX	XXX	XXX	n/a

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TSMC Valuation Multiples

TSMC's trades at 13.6x EV/Revenue multiple, and 18.9x EV/EBITDA.

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TSMC Financial Valuation Multiples

As of January 5, 2026, TSMC has market cap of $1.31T and EV of $1.25T.

Equity research analysts estimate TSMC's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

TSMC's P/E ratio is not available.

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Market cap (current)	$1.31T	XXX	$1.31T	XXX	XXX	XXX
EV (current)	$1.25T	XXX	$1.25T	XXX	XXX	XXX
EV/Revenue	n/a	XXX	13.6x	XXX	XXX	XXX
EV/EBITDA	n/a	XXX	18.9x	XXX	XXX	XXX
EV/EBIT	n/a	XXX	29.7x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	n/a	XXX	35.5x	XXX	XXX	XXX
EV/FCF	n/a	XXX	45.6x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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TSMC Margins & Growth Rates

TSMC's revenue per employee in the last FY averaged $1.3M, while opex per employee averaged $0.1M for the same period.

TSMC's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

TSMC's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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TSMC Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue Growth	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	72%	XXX	XXX	XXX
EBITDA Growth	n/a	XXX	n/a	XXX	XXX	XXX
Rule of 40	n/a	XXX	n/a	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	n/a	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$1.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	0%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	7%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	10%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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