Loading…
Israeli specialty foundry that manufactures analog chips (RF, power, sensors) for other companies' designs.
Israeli specialty foundry that manufactures analog chips (RF, power, sensors) for other companies' designs.
Charges per wafer for chips that customers design, and wins business by offering process recipes for analog, RF and sensor chips that big digital foundries do not prioritize. It runs plants in Israel, the US and Japan, and in 2023 agreed to use space at Intel's New Mexico fab to add capacity. Silicon photonics, which moves data as light, is the newer growth line.
In one line: A smaller, specialty-analog focused version of TSMC/GlobalFoundries..
Moat: narrow (process know-how, customer qualification). Specialty analog/RF process expertise differentiates it from commodity digital foundries, but it lacks leading-edge scale.
Headquarters: Migdal HaEmek, Israel · Founded: 1993 · Employees: 2,316
Size Tower Semiconductor (TSEM) is a United States Information Technology company (Semiconductors) with a market value of $15.6B, the 583rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $137.34 on 6 Nov 2026.
Performance Over six months the shares fell 34.9%, against -16.5% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue grew 21.6% over the last twelve months (peer median +32.1%); the operating margin is 19.2% (peer median 16.0%).
Valuation It trades at 21.6× forward earnings against a peer median of 23.2× (7th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 26% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +22 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.2 points above its cost of capital (9.6% WACC).
Short interest Short interest is 4.7% of the free float (15 Oct 2026).
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.84B | $1.57B | $1.44B | $1.42B | $1.68B |
| Revenue growth | — | +9% | +1% | -15% | — |
| Gross profit | $545M | $364M | $339M | $354M | $466M |
| EBITDA | $647M | $497M | $451M | $459M | $595M |
| Net income | $356M | $220M | $208M | $518M | $265M |
| Free cash flow | $256M | -$48.9M | $12.5M | $232M | $163M |
| Capital expenditure | $666M | $444M | $436M | $445M | $367M |
| Total debt | $154M | $162M | $181M | $232M | $272M |
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 |
|---|---|---|---|---|---|---|
| Tower Semiconductor TSEM | $15.6B | -35% | +22% | 19% | 21.6× | 25.9% |
| 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% |
| Vanguard International Semiconductor 5347.TWO | $6.82B | -22% | +10% | 17% | 17.7× | n/a |
| X-FAB Silicon Foundries XFAB.PA | $709M | -38% | -8% | 2% | n/a | n/a |
| SJ Semiconductor 688820.SS | $22.9B | -21% | +1% | n/a | 136.4× | n/a |
| DB HiTek 000990.KS | $2.41B | -48% | +29% | 21% | 8.9× | 2.3% |
| SkyWater Technology SKYT | n/a | -4% | n/a | n/a | n/a | n/a |
| SMIC 0981.HK | $76.7B | -41% | +20% | 9% | 32.9× | n/a |
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 | TSEM | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -40.0% | -19.3% | 3rd lowest of 20 |
| 6-month return | -34.9% | -16.5% | 6th lowest of 20 |
| Distance from 52-week high | -57.1% | -47.6% | 5th lowest of 21 |
| Revenue growth (TTM) | +21.6% | +32.1% | 7th lowest of 21 |
| Operating margin | 19.2% | 16.0% | 9th highest of 21 |
| Forward P/E | 21.6× | 23.2× | 7th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 25.9% | 39.4% | 4th least demanding of 12 |
| Growth delivered (Del g) | +4.4% | +14.6% | 2nd lowest of 12 |
| Hurdle (Req g minus delivered) | +21.5 pp | +17.0 pp | 4th most demanding of 12 |
| ROIC minus cost of capital | +5.2 pp | +3.5 pp | 10th highest of 20 |
| EV / EBITDA | 22.1× | 32.9× | 4th cheapest of 9 |
| Net debt / EBITDA | -2.0× | -0.9× | 3rd least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tower Semiconductor TSEM | United States | $15.6B | -35% | +22% | 19% | 21.6× | 25.9% | +4.4% |
| Omnivision Integrated Circuits 0501.HK | Hong Kong | $15.7B | -16% | +7% | 13% | 23.2× | n/a | n/a |
| Hwatsing Technology 688120.SS | China | $15.4B | +42% | +36% | 18% | 63.8× | 41.8% | +64.4% |
| MACOM Technology Solutions MTSI | United States | $16.1B | -41% | +28% | 18% | 23.2× | 49.4% | +12.8% |
| Lattice Semiconductor LSCC | United States | $14.9B | -17% | +63% | 13% | 26.2× | n/a | n/a |
| Technoprobe TPRO.MI | Italy | $14.9B | +5% | +22% | 30% | 38.4× | 36.4% | +14.6% |
| Winbond Electronic 2344.TW | Taiwan | $16.4B | +22% | +154% | 43% | 2.8× | 0.6% | +8.1% |
| ASPEED Technology 5274.TWO | Taiwan | $14.3B | -30% | +40% | 53% | 41.1× | 41.3% | +24.3% |
| LONGi Green Energy Technology 601012.SS | China | $14.1B | -25% | -16% | -12% | n/a | n/a | n/a |
| JCET 600584.SS | China | $14.1B | +15% | +4% | 6% | 40.2× | n/a | n/a |
| Rockchip Electronics 603893.SS | China | $13.4B | +16% | +39% | 27% | 49.1× | 39.3% | +18.7% |
| DapuStor 301666.SZ | China | $18.8B | +20% | +611% | 23% | n/a | n/a | n/a |
| Skyworks Solutions SWKS | United States | $19.3B | +24% | -3% | 9% | 14.3× | 39.4% | -5.0% |
| SiTime SITM | United States | $12.5B | -30% | +83% | 0% | 23.1× | n/a | n/a |
| Shenzhen Longsys Electronics 301308.SZ | China | $12.3B | -46% | +114% | 40% | 5.1× | n/a | n/a |
| Suzhou TFC Optical Communication 300394.SZ | China | $19.9B | -44% | +26% | 51% | 36.3× | 44.8% | +42.7% |
| Cansemi Technology 301660.SZ | China | $11.8B | n/a | +54% | -99% | n/a | n/a | n/a |
| Fabrinet FN | United States | $11.7B | -47% | +43% | 10% | 15.6× | n/a | n/a |
| GlobalFoundries GFS | United States | $21.2B | -48% | +1% | 12% | 16.2× | 24.9% | +7.0% |
| First Solar FSLR | United States | $21.6B | -9% | -1% | 39% | 9.2× | 12.4% | +14.0% |
| Piotech 688072.SS | China | $21.7B | +23% | +24% | 14% | 55.5× | 43.5% | +71.7% |