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Stocks / Foreign companies / TSM · Semiconductors & Related Devices

Taiwan Semiconductor Manufacturing Company Limited (TSM)

Taiwan Semiconductor Manufacturing Company Limited files a 20-F with the SEC once a year, in New Taiwan dollars. In the year to 31 December 2025 it reported revenue of TWD 3,809,054 million, up 31.6% on the year before. Its profit attributable to shareholders was TWD 1,697,604 million, up 46.5%, and diluted earnings per share TWD 65.47.

Earnings per share are per ordinary share, in New Taiwan dollars. The share that trades in the US can be a depositary share standing for more or fewer ordinary shares, so no price ratio is worked out on this page.

The public record on TSM

Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 1.3 by open interest on 26 September 2026; the straddle prices a 3.0% move to 2 October 2026
Holders26 of the followed funds hold it; largest FMR LLC; 0 Schedule 13D or 13G filings in twelve months
Congress4 House trades disclosed in six months
Short interest27.8 million shares short, 2.84 days to cover at 15 September 2026

Profit and loss, 11 fiscal years

Year toDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015
Revenue3,809,0542,894,3082,161,7362,263,8911,587,4151,339,2551,069,9851,031,474977,447947,938843,497
Cost of sales1,527,7601,269,954986,625915,536767,878628,125577,284533,488482,616473,077433,118
Gross profit2,281,2941,624,3541,175,1111,348,355819,537711,130492,702497,874494,826474,832410,395
Research and development246,427204,182182,370163,262124,735109,48691,41985,89680,73271,20865,545
Operating profit1,936,0921,322,053921,4661,121,279649,981566,784372,701383,624385,559377,958320,048
Finance costs12,37010,49511,99911,7505,4142,0823,2513,0513,3303,3063,190
Profit before tax2,041,6551,405,840979,3161,144,072663,036584,746389,862397,543396,162385,922350,478
Income tax346,530248,316128,289150,77870,15573,73835,83534,43751,12354,12447,645
Profit for the year1,695,1251,157,524851,028993,295592,881511,008354,027363,106345,039331,797302,833
Profit attributable to shareholders1,697,6041,158,380851,740992,923592,359510,744353,948363,053344,998331,714302,851

TWD million, from each year's annual report on the SEC's EDGAR, the year linked to its filing, on the IFRS tags the company filed. A line the company does not file under the standard tag is left out rather than estimated. Profit for the year includes the part that belongs to minority shareholders; profit attributable to shareholders is the part EPS is struck on.

Year toDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015
Diluted EPS65.4744.6732.8538.2922.8419.7013.6514.0013.3012.7911.68
Basic EPS65.4744.6832.8538.2922.8419.7013.6514.0013.3012.7911.68

TWD per ordinary share, as filed.

Cash flow

Year toDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015
Cash from operations2,274,9761,826,1771,241,9671,610,5991,112,161822,666615,139573,954585,318539,835529,879
Purchase of property, plant and equipment1,272,410956,006949,8171,082,672839,196507,239460,422315,582330,588328,045257,517
Free cash flow1,002,565870,171292,150527,927272,965315,428154,716258,372254,730211,789272,363
Dividends paid466,779363,055291,722285,234265,786259,304259,304207,443181,513155,582116,684

TWD million. Purchase of property, plant and equipment is the cash line as filed; purchases of intangible assets and acquisitions are not in it. Free cash flow is cash from operations less that purchase, arithmetic on the two filed lines.

Balance sheet at year end

Year toDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015
Total assets7,932,8426,691,7655,532,1974,964,4593,725,3022,760,6002,264,7252,090,0311,991,7321,886,297n/a
Equity attributable to shareholders5,355,0394,244,2663,429,5222,903,0202,149,2601,834,8111,613,7061,660,4291,493,7471,359,0511,194,970
Cash and cash equivalents2,767,8562,127,6271,465,4281,342,8141,064,990660,171455,399577,815553,392541,254562,689
Lease liabilities35,42831,80431,49232,36822,94122,38917,31719,904n/an/an/a
Inventories288,110287,869250,997221,149193,102137,35382,981103,23173,88148,682n/a

TWD million, at each fiscal year end. Borrowings is the company's own stated total where it files one; it is never added up from its parts here.

Ratios on the filed lines

Year toDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015
Gross margin59.9%56.1%54.4%59.6%51.6%53.1%46.0%48.3%50.6%50.1%48.7%
Operating margin50.8%45.7%42.6%49.5%40.9%42.3%34.8%37.2%39.4%39.9%37.9%
Net margin44.6%40.0%39.4%43.9%37.3%38.1%33.1%35.2%35.3%35.0%35.9%
Free cash flow margin26.3%30.1%13.5%23.3%17.2%23.6%14.5%25.0%26.1%22.3%32.3%
Return on year-end equity31.7%27.3%24.8%34.2%27.6%27.8%21.9%21.9%23.1%24.4%25.3%
Effective tax rate17.0%17.7%13.1%13.2%10.6%12.6%9.2%8.7%12.9%14.0%13.6%

Arithmetic on the filed lines of the same year: margins over revenue, return on equity as profit attributable to shareholders over year-end equity, tax over profit before tax.

Annual reports on EDGAR

FormYear toFiled
20-F31 December 202516 April 2026EDGAR
20-F31 December 202417 April 2025EDGAR
20-F31 December 202318 April 2024EDGAR
20-F31 December 202220 April 2023EDGAR
20-F31 December 202114 April 2022EDGAR
20-F31 December 202016 April 2021EDGAR
20-F31 December 201915 April 2020EDGAR
20-F31 December 201817 April 2019EDGAR
20-F31 December 201719 April 2018EDGAR
20-F31 December 201613 April 2017EDGAR
20-F31 December 201511 April 2016EDGAR
20-F31 December 201413 April 2015EDGAR

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