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What has to happen in Others

Model as of

This page changes Others inside the complete TSM model. Every other vertical, corporate programme and valuation assumption stays in the selected portfolio case.

TSM forward model
Horizon
Consolidated fair value $987.87 all other verticals held in this portfolio case
Final-quarter revenue $1.42B 1% of company revenue
Explicit segment contribution $8.02B EBITDA less segment capex, before corporate items

C.C. Wei's version: AI demand is structural rather than cyclical, TSMC's leading-edge monopoly holds through 2nm and A13, and the company keeps both the volume and the price. Every platform is lifted, because the claim is about the foundry rather than one end market. Two things this case does NOT contain. TSMC has published no multi-year revenue target - the furthest forward number in the filings is a single full-year growth rate - so there is no stated claim to test this against, unlike the other founder cases on this site. And at 11x terminal revenue the exit multiple is doing most of the work here; the operating assumptions on their own do not get close. Read it as the price of believing the monopoly persists for five years, not as a model of it.

Others

Basis quarter$804M
Final quarter$1.42B
Implied CAGR+12%
Final revenue mix1%

$0.8B and 2% of revenue - the residual TSMC does not assign to the five named platforms. Like DCE it is a whole-percentage line and carries the same rounding imprecision. It exists here so the six verticals sum to reported revenue rather than to 98% of it.

Last four quarters
2025 Q3 $662M Estimated
2025 Q4 $675M Estimated
2026 Q1 $718M Estimated
2026 Q2 $804M Estimated
Unassigned platforms
Sequential growth +3.0%/qtr decaying toward +1.5% 3% a quarter. A residual line at 2% of revenue; the rate is a placeholder, not a forecast.
Others

Latest: $1.42B (2031Q2E)

Period Value
2024Q3 $470M
2024Q4 $538M
2025Q1 $511M
2025Q2 $601M
2025Q3 $662M
2025Q4 $675M
2026Q1 $718M
2026Q2 $804M
2026Q3E $836M
2026Q4E $868M
2027Q1E $898M
2027Q2E $927M
2027Q3E $956M
2027Q4E $985M
2028Q1E $1.01B
2028Q2E $1.04B
2028Q3E $1.07B
2028Q4E $1.10B
2029Q1E $1.13B
2029Q2E $1.16B
2029Q3E $1.19B
2029Q4E $1.22B
2030Q1E $1.25B
2030Q2E $1.29B
2030Q3E $1.32B
2030Q4E $1.35B
2031Q1E $1.39B
2031Q2E $1.42B

Assumptions & reasoning

  • The residual TSMC does not assign to a named platform, at 2% of revenue. It exists in this model so the six verticals sum to reported revenue rather than to 98% of it.
  • Like DCE this is a whole-percentage disclosure on a $40B base, so its dollar value carries roughly $200M of rounding either way and its growth rate should not be read closely.
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