TSM
Taiwan Semiconductor Manufacturing Company Limited
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Taiwan Semiconductor Manufacturing Company Limited.
Coverage
Waymo's Custom Silicon Is a Real Step Down in Cost. At $125,000 a Car Against a Cybercab We Put at $20,000-$30,000, It Is No Threat Yet to Tesla's Scale.
Waymo cut $75,000 out of its robotaxi in one generation and its new 5nm ASIC is a genuine piece of engineering. It is also a front-end sensor processor whose 1,000-plus TOPS run before the driving stack, and it sits on the small half of a vehicle Morgan Stanley puts at $125,000 — four to six times what we estimate a Cybercab costs to build.
TSMC Added 14 Points of Gross Margin While Tripling Its Quarterly Revenue
TSMC joins coverage with a Rule of 40 of 56. Revenue went from $15.7B to $40.2B a quarter over three years, and gross margin went from 54.1% to 67.7% at the same time — the combination almost nothing at this scale manages.
Latest: $40.20B (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $16.72B |
| 2023Q2 | $15.68B |
| 2023Q3 | $17.28B |
| 2023Q4 | $19.62B |
| 2024Q1 | $18.87B |
| 2024Q2 | $20.82B |
| 2024Q3 | $23.50B |
| 2024Q4 | $26.88B |
| 2025Q1 | $25.53B |
| 2025Q2 | $30.07B |
| 2025Q3 | $33.10B |
| 2025Q4 | $33.73B |
| 2026Q1 | $35.90B |
| 2026Q2 | $40.20B |
Latest: $4.31 (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $1.31 |
| 2023Q2 | $1.14 |
| 2023Q3 | $1.29 |
| 2023Q4 | $1.44 |
| 2024Q1 | $1.38 |
| 2024Q2 | $1.48 |
| 2024Q3 | $1.94 |
| 2024Q4 | $2.24 |
| 2025Q1 | $2.12 |
| 2025Q2 | $2.47 |
| 2025Q3 | $2.92 |
| 2025Q4 | $3.14 |
| 2026Q1 | $3.49 |
| 2026Q2 | $4.31 |
Latest: $9.09B (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $2.72B |
| 2023Q2 | -$2.72B |
| 2023Q3 | $2.15B |
| 2023Q4 | $7.05B |
| 2024Q1 | $8.12B |
| 2024Q2 | $5.32B |
| 2024Q3 | $5.72B |
| 2024Q4 | $7.99B |
| 2025Q1 | $8.97B |
| 2025Q2 | $6.44B |
| 2025Q3 | $4.66B |
| 2025Q4 | $11.89B |
| 2026Q1 | $11.02B |
| 2026Q2 | $9.09B |
Latest: $88.41B (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $2.72B |
| 2023Q2 | $4M |
| 2023Q3 | $2.15B |
| 2023Q4 | $9.20B |
| 2024Q1 | $17.32B |
| 2024Q2 | $22.64B |
| 2024Q3 | $28.36B |
| 2024Q4 | $36.35B |
| 2025Q1 | $45.32B |
| 2025Q2 | $51.75B |
| 2025Q3 | $56.41B |
| 2025Q4 | $68.30B |
| 2026Q1 | $79.32B |
| 2026Q2 | $88.41B |
Latest results
Company History
Morris Chang founds TSMC in Hsinchu, inventing the business model of manufacturing chips exclusively for other companies' designs.
TSMC's American depositary shares begin trading on the NYSE, one ADR representing five ordinary shares.
Ramps N5 for Apple's A14 and M1, cementing a leading-edge lead that Intel and Samsung do not close.
Breaks ground on US fabs, later joined by Japan and Germany, as customers and governments press for supply outside Taiwan.
High-performance computing overtakes smartphones as the largest revenue platform as the AI buildout absorbs leading-edge capacity.
N2 enters volume production and gross margin reaches 67.7% in the June quarter, on $40.2 billion of quarterly revenue.
Key Players
The CEO view — 1 appearance →
