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World's largest dedicated semiconductor foundry, manufacturing chips designed by other companies at the most advanced process nodes.
World's largest dedicated semiconductor foundry, manufacturing chips designed by other companies at the most advanced process nodes.
Manufactures chips to other companies' designs and sells none of its own, so customers such as Apple, Nvidia and AMD can hand it their most advanced products without feeding a rival. Most revenue comes from the newest manufacturing generations, where it has almost no competition. Production is concentrated in Taiwan, with newer plants in the US, Japan and Germany.
Moat: wide (scale, process know-how, customer qualification). Dominant leading-edge process share; customers deeply co-design around TSMC's process, making switching very costly.
Headquarters: Hsinchu, Taiwan · Founded: 1987
Size Taiwan Semiconductor Manufactur (2330.TW) is a Taiwan Information Technology company (Semiconductors) with a market value of $1.67T, the largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$2,135 on 6 Nov 2026.
Performance Over six months the shares fell 4.9%, against -12.0% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 2nd highest of 8 in its peer set.
Growth Revenue grew 36.2% over the last twelve months (peer median +83.4%); the operating margin is 57.8% (peer median 48.6%).
Valuation It trades at 15.0× forward earnings against a peer median of 15.5× (4th cheapest of 8).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 47.9 points above its cost of capital (8.5% WACC).
Next results Next results expected around 21 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$4.94T | NT$3.81T | NT$2.89T | NT$2.16T | NT$2.26T |
| Revenue growth | — | +32% | +34% | -5% | — |
| Gross profit | NT$3.22T | NT$2.24T | NT$1.58T | NT$1.14T | NT$1.32T |
| EBITDA | NT$3.60T | NT$2.62T | NT$1.99T | NT$1.45T | NT$1.56T |
| Net income | NT$2.55T | NT$1.72T | NT$1.17T | NT$838B | NT$1.02T |
| Free cash flow | NT$1.50T | NT$1.08T | NT$931B | NT$381B | NT$538B |
| Capital expenditure | NT$1.72T | NT$1.28T | NT$965B | NT$908B | NT$1.09T |
| Total debt | NT$984B | NT$1.07T | NT$1.05T | NT$959B | NT$891B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Taiwan Semiconductor Manufactur 2330.TW | $1.67T | -5% | +36% | 58% | 15.0× | 10.1% |
| SamsungElec 005930.KS | $886B | -14% | +88% | 46% | 4.0× | -7.2% |
| Intel INTC | $299B | -55% | +12% | 11% | 39.9× | 46.1% |
| GlobalFoundries GFS | $21.2B | -48% | +1% | 12% | 16.2× | 24.9% |
| United Micro Electronics 2303.TW | $34.9B | +11% | +13% | 21% | 13.7× | 14.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2330.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -17.1% | -27.6% | highest of 8 |
| 6-month return | -4.9% | -12.0% | 2nd highest of 8 |
| Distance from 52-week high | -17.6% | -40.6% | highest of 8 |
| Revenue growth (TTM) | +36.2% | +83.4% | 2nd lowest of 8 |
| Operating margin | 57.8% | 48.6% | 4th highest of 8 |
| Forward P/E | 15.0× | 15.5× | 4th cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | 10.1% | 26.3% | 4th least demanding of 8 |
| Growth delivered (Del g) | +23.3% | +24.9% | 4th lowest of 8 |
| Hurdle (Req g minus delivered) | -13.2 pp | -14.3 pp | 4th most demanding of 8 |
| ROIC minus cost of capital | +47.9 pp | +62.2 pp | 4th lowest of 8 |
| EV / EBITDA | 14.5× | 27.6× | 2nd cheapest of 6 |
| Net debt / EBITDA | -0.8× | -0.3× | least indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Taiwan Semiconductor Manufactur 2330.TW | Taiwan | $1.67T | -5% | +36% | 58% | 15.0× | 10.1% | +23.3% |
| Broadcom AVGO | United States | $1.40T | -32% | +49% | 49% | 16.9× | 26.6% | +21.7% |
| SamsungElec 005930.KS | South Korea | $886B | -14% | +88% | 46% | 4.0× | -7.2% | +7.1% |
| Micron Technology MU | United States | $781B | -8% | +256% | 75% | 3.9× | 7.1% | +36.9% |
| Advanced Micro Devices AMD | United States | $733B | -1% | +42% | 18% | 30.0× | 60.9% | +28.8% |
| Nvidia NVDA | United States | $4.50T | -13% | +83% | 65% | 15.5× | 26.3% | +66.9% |
| SK hynix 000660.KS | South Korea | $608B | -12% | +220% | 74% | 3.1× | -3.1% | +24.9% |
| ASML ASML.AS | Netherlands | $550B | -6% | +23% | 39% | 31.1× | 28.9% | +18.5% |