TAIWAN SEMICONDUCTOR-SP ADR (TSM)

Highly Crowded

Held by 3,121 of 5,944 reporting institutions (100th percentile) — extremely crowded.

Data as of Q1 2026

$430.26▲ 3.00%

EOD close · as of 2026-09-17

Market Cap

$11.16T

Enterprise Value

$11.16T

P/E

316.1×

Revenue (FY)

—

Rev. growth

—

Gross margin

—

Net margin

—

ROIC

—

Debt / EBITDA

—

Revenue—

—

Net Income· FY2024$35.30B

Free Cash Flow—

—

✓ Strengths

No standout strengths flagged.

△ Watch

Nothing notable to watch.

⚠ Risks

No material risks flagged.

Deep analysis

Quality of the business

What backs the price

Is the profit real, and how strong is the balance sheet?

Income statement

How a revenue dollar becomes profit

FY2024 · every deduction from revenue to net income

Not enough detail.

Returns

Why ROE is —

DuPont — the three levers

Net margin

—

profit / rev

Asset turns

—

rev / assets

Leverage

—

assets / equity

ROE

—

return on equity

Watch the leverage lever — a chunk of ROE comes from the balance sheet.

Leverage & liquidity

Debt structure

What the company owes vs. what it holds

Total Debt

—

Cash & Equivalents

—

Net Debt

—

Net debt / EBITDA—

Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.

Operating leverage

How profit responds to sales

Latest year: profit growth vs revenue growth

Revenue Δ

—

Op. income Δ

—

Op. leverage

—

Operating leverage needs meaningful revenue change.

Operating leverage

Common-size income statement

Each line as % of revenue — the trend in color

% of revenue	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024

Green = margin-favorable vs the row's own range · red = unfavorable.

Track record · FY2017 → FY2024

How the ratios & debt developed

The metrics that matter, over time

ROE

—

— · latest

—

Net margin

—

— · latest

—

ROIC

—

— · latest

—

Gross margin

—

— · latest

—

Debt / EBITDA

—

— · latest

—

Current ratio

—

— · latest

—

FCF margin

—

— · latest

—

Free cash flow

—

— · latest

—

Institutional ownership: 3,121 holders · 100% of shares · 100th percentile crowding — Held by 3,121 of 5,944 reporting institutions (100th percentile) — extremely crowded. (see the 13F tab)

A 30-second read on TSM: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.

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Financials

$430.26▲ 3.00%

EOD close · as of 2026-09-17

Market Cap

$11.16T

Enterprise Value

$11.16T

Revenue → Profit Flow

How a revenue dollar becomes profit — FY2024

Not enough income-statement detail for a flow diagram.

No data reported for this breakdown.

Each value shows its share of revenue below it (common-size).

Line Item	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Cost of Revenue	$38.73B	$986.63B	$915.54B	$767.88B	$628.12B	$577.28B	$533.49B	$482.62B
Gross Profit	$49.54B	$1.18T	$1.35T	$819.54B	$711.13B	$492.70B	$497.87B	$494.83B
Research & Development	$6.23B	$182.37B	$163.26B	$124.73B	$109.49B	$91.42B	$85.90B	$80.73B
Selling, General & Admin	$2.55B	$60.87B	$53.52B	$36.93B	$28.46B	$21.74B	$20.27B	$21.20B
Net Income	$35.30B	$851.03B	$993.29B	$592.88B	$511.01B	$354.03B	$363.11B	$345.04B

Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.

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TSM vs. Technology peers

Ranked against 743 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.

Where it ranks

top thirdmiddlebottompeer median

ValuationCheaper than peers scores higher

P / E

TSM — · med 32.9× · best 0.0×

not enough peer data

—

P / S

TSM — · med 3.3× · best 0.0×

not enough peer data

—

EV / EBITDA

TSM — · med 22.0× · best -9.2×

not enough peer data

—

P / B

TSM — · med 3.5× · best 0.0×

not enough peer data

—

GrowthLatest fiscal-year revenue vs prior year

Revenue growth (YoY)

TSM — · med 9.8% · best 939640%

not enough peer data

—

ProfitabilityMargins vs the sector

Gross margin

TSM — · med 48.8% · best 151%

not enough peer data

—

Operating margin

TSM — · med -0.5% · best 357%

not enough peer data

—

Net margin

TSM — · med -0.6% · best 1389%

not enough peer data

—

FCF margin

TSM — · med 6.1% · best 153%

not enough peer data

—

Returns on capitalHow hard the capital works

Return on equity

TSM — · med 1.7% · best 13729%

not enough peer data

—

Return on invested capital

TSM — · med 1.2% · best 3653%

not enough peer data

—

LeverageLess debt scores higher

Net debt / EBITDA

TSM — · med 0.9× · best -126.8×

not enough peer data

—

13F convictionInstitutional breadth & ownership

13F holders

TSM 3,121 · med 161 · best 5,944

99th pct

Institutional ownership

TSM 187% · med 62.7% · best 329%

100th pct

Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.

Peer table

Click a column to sort · latest FY

Company	Mkt cap ▼	P/E	EV/EBITDA	P/S	Rev gr	Gross	Net	ROE	ROIC	Net D/EBITDA	13F
TSMTAIWAN SEMICONDUCTOR-S…	$11.16T	—	—	—	—	—	—	—	—	—	3,121
NVDANVIDIA Corporation	$5.33T	44.8×	40.0×	24.7×	65.5%	71.1%	55.6%	76.3%	72.4%	0.1×	5,582
AAPLApple Inc.	$4.98T	45.2×	34.8×	12.0×	6.4%	46.9%	26.9%	152%	68.1%	0.6×	5,858
MSFTMicrosoft Corporation	$3.70T	27.7×	19.6×	11.1×	17.8%	67.9%	40.3%	30.2%	27.7%	0.2×	5,944
AVGOBroadcom Inc.	$1.65T	72.8×	65.1×	25.8×	23.9%	67.8%	36.2%	28.4%	15.8%	2.5×	4,442
MUMicron Technology, Inc…	$1.10T	128.8×	60.7×	29.3×	48.9%	39.8%	22.8%	15.8%	12.9%	0.7×	2,894
AMDAdvanced Micro Devices…	$888.5B	205.7×	210.2×	25.6×	34.3%	49.5%	12.5%	6.9%	6.5%	0.8×	3,059
INTCIntel Corporation	$543.3B	—	67.4×	10.3×	-0.5%	34.8%	-0.5%	-0.2%	-0.2%	5.5×	2,495
CSCOCisco Systems, Inc.	$436.6B	43.2×	36.6×	7.7×	5.3%	64.9%	18.0%	21.7%	13.6%	2.3×	3,560
PLTRPalantir Technologies …	$421.4B	279.8×	291.6×	94.2×	56.2%	82.4%	36.3%	22.0%	22.0%	—	2,883
DELLDell Technologies Inc.	$383.6B	67.8×	36.1×	3.4×	18.8%	20.0%	5.2%	-240%	20.4%	2.8×	1,564
LRCXLam Research Corporati…	$341.7B	64.9×	54.5×	18.5×	23.7%	48.7%	29.1%	54.3%	37.4%	0.7×	2,500
RPAYRepay Holdings Corpora…	$338.0B	—	—	1092.8×	-1.2%	75.0%	-83.0%	-53.0%	-28.2%	-1.7×	142
AMATApplied Materials, Inc…	$331.0B	48.2×	38.1×	11.7×	4.4%	48.7%	24.7%	34.3%	25.9%	0.8×	2,826
UMCUnited Microelectronic…	$307.4B	—	—	—	—	—	—	—	—	—	302
ARMArm Holdings plc Ameri…	$281.9B	311.6×	242.9×	57.3×	22.8%	97.5%	18.4%	10.9%	10.9%	—	730
SAPSAP SE	$262.5B	—	—	—	—	—	—	—	—	—	794
ANETArista Networks, Inc.	$250.7B	72.6×	63.3×	27.8×	28.6%	64.1%	39.0%	28.4%	28.4%	—	1,930
PANWPalo Alto Networks, In…	$250.5B	234.4×	156.5×	27.2×	14.9%	73.4%	12.3%	14.5%	14.5%	—	2,374
SNDKSandisk Corp	$235.7B	—	—	32.0×	10.4%	30.1%	-22.3%	-17.8%	-14.8%	-1.5×	1,127
TXNTexas Instruments Inco…	$234.6B	47.4×	30.9×	13.3×	13.0%	57.0%	28.3%	30.7%	16.5%	1.8×	2,345
CRMSalesforce, Inc.	$225.6B	31.1×	24.4×	5.4×	9.6%	77.7%	18.0%	12.6%	10.1%	1.5×	2,547
IBMInternational Business…	$222.8B	21.3×	—	3.3×	7.6%	58.2%	15.7%	32.4%	11.3%	—	3,351
MRVLMarvell Technology, In…	$204.0B	78.4×	133.3×	24.9×	42.1%	51.0%	32.6%	18.7%	14.2%	2.9×	1,477
QCOMQUALCOMM Incorporated	$202.7B	37.7×	15.2×	4.6×	13.7%	55.4%	12.5%	26.1%	15.4%	1.1×	2,611

Peers = companies sharing TSM's sector (Technology) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.

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TAIWAN SEMICONDUCTOR-SP ADR (TSM)

✓ Strengths

△ Watch

⚠ Risks

Deep analysis

What backs the price

How a revenue dollar becomes profit

Why ROE is —

Debt structure

How profit responds to sales

Common-size income statement

How the ratios & debt developed

Financials

Revenue → Profit Flow

Reverse DCF — what growth does the price assume?

Quality & Risk

Piotroski F-Score

Altman Z-Score

Beneish M-Score

Earnings quality

Solvency

Dividends & Returns

Is the payout covered?

Dividends + buybacks, per year

Debt & Leverage

Capital structure over time

Net debt / EBITDA

Debt servicing

Liquidity

Short-term vs long-term debt

Performance vs. S&P 500

Hover the chart to read any quarter

Annual return vs the market

Cumulative lead over the S&P 500

Drawdown from peak · max -42%

TSM vs. Technology peers

Where it ranks

Peer table

Ownership Map

Buy / Sell Volume by Quarter

Institutional Trends (8 Quarters)

Institutional Holders

Institutional Holders

Buy / Sell Volume by Quarter

Institutional Trends (8 Quarters)

Reverse DCF — what growth does the price assume?

Performance vs. S&P 500

Hover the chart to read any quarter

Annual return vs the market

Cumulative lead over the S&P 500

Drawdown from peak · max -42%

TSM vs. Technology peers

Where it ranks

Peer table

Financials

Revenue → Profit Flow

Quality & Risk

Piotroski F-Score

Altman Z-Score

Beneish M-Score

Earnings quality

Solvency

Dividends & Returns

Is the payout covered?

Dividends + buybacks, per year

Debt & Leverage

Capital structure over time

Net debt / EBITDA

Debt servicing

Liquidity

Short-term vs long-term debt

✓ Strengths

△ Watch

⚠ Risks

Deep analysis

What backs the price

How a revenue dollar becomes profit

Why ROE is —

Debt structure

How profit responds to sales