TSEM
$241.30+6.10%
as of close, Oct 1, 2026
☾ AH $241.30 +6.10%
Tower Semiconductor Ltd.Stock · TechnologyMSCI EAFE 0.1%Nasdaq Composite 0.06%MSCI World 0.03%MSCI ACWI 0.02%
TSEM financial statements
The full income statement, balance sheet, and cash-flow statement for Tower Semiconductor Ltd. (TSEM), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2017-12 98.5M2018-12 105.0M2019-12 106.8M2020-12 107.9M2021-12 107.9M2022-12 110.0M2023-12 110.8M2024-12 111.6M2025-12 112.5M+14.3% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 1.57B+9.1% | 1.44B+0.9% | 1.42B-15.2% | 1.68B+11.2% | 1.51B+19.2% | |
| 364M+7.2% | 339M-4.0% | 354M-24.2% | 466M+41.7% | 329M+41.1% | ||
| Cost of revenue | 1.20B+9.6% | 1.10B+2.6% | 1.07B-11.7% | 1.21B+2.7% | 1.18B+14.2% | |
| 170M+14.6% | 148M+176.5% | -194M-225.3% | 155M-4.9% | 163M+14.3% | ||
| Research & development | 86.5M+8.9% | 79.4M-0.5% | 79.8M-4.9% | 83.9M-1.7% | 85.4M+9.0% | |
| Selling, general & administrative | 83.2M+11.0% | 75.0M+3.5% | 72.5M-9.8% | 80.3M+4.0% | 77.2M+20.7% | |
| Restructuring | 0.00+100.0% | -6.27M-131.9% | 19.7M+84.0% | 10.7M | 0.00 | |
| Operating income | 194M+1.5% | 191M-65.0% | 547M+75.6% | 312M+87.2% | 167M+82.9% | |
| Interest expense | 3.66M-9.2% | 4.03M-9.3% | 4.44M-21.9% | 5.69M-22.2% | 7.31M+8.2% | |
| Other non-operating income | -10.5M+57.4% | -24.7M-450.8% | 7.05M+201.6% | -6.93M-574.6% | 1.46M+128.0% | |
| Pre-tax income | 240M+10.6% | 217M-62.8% | 585M+100.3% | 292M+88.2% | 155M+74.9% | |
| Income tax | 21.6M+111.4% | 10.2M-84.4% | 65.3M+156.1% | 25.5M+2390.4% | 1.02M-81.0% | |
| 220M+6.1% | 208M-59.9% | 518M+96.0% | 265M+76.4% | 150M+82.3% | ||
| Net income to non-controlling interest | -1.66M-157.9% | -642K-162.0% | 1.04M-45.5% | 1.90M-53.2% | 4.06M+311.7% | |
| $1.94+4.9% | $1.85-60.3% | $4.66+95.0% | $2.39+74.5% | $1.37+80.3% | ||
| EPS (basic) | $1.97+5.3% | $1.87-60.2% | $4.70+94.2% | $2.42+74.1% | $1.39+80.5% | |
| Weighted-avg shares (basic) | 112M+0.7% | 111M+0.8% | 110M+0.9% | 109M+1.0% | 108M+1.0% | |
| Weighted-avg shares (diluted) | 114M+1.1% | 112M+1.0% | 111M+0.4% | 111M+0.9% | 110M+1.2% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.71B-2.9% | 1.76B+3.0% | 1.71B+14.3% | 1.50B+25.0% | 1.20B+8.5% | ||
| Cash & equivalents | 235M-13.4% | 272M+4.3% | 261M-23.5% | 341M+61.6% | 211M-0.4% | |
| Short-term investments | 917M-3.1% | 946M+19.7% | 791M+59.6% | 495M+36.2% | 364M+17.2% | |
| Accounts receivable | 223M+5.1% | 212M+37.6% | 154M+0.7% | 153M+7.5% | 142M-12.3% | |
| Inventory | 257M-4.3% | 268M-5.1% | 283M-6.4% | 302M+28.8% | 235M+17.8% | |
| Other current assets | 78.1M+26.3% | 61.8M+71.9% | 36.0M+4.8% | 34.3M-37.4% | 54.8M+77.9% | |
| 3.32B+7.8% | 3.08B+5.5% | 2.92B+14.6% | 2.55B+14.2% | 2.23B+6.5% | ||
| Property, plant & equipment | 1.46B+13.7% | 1.29B+11.3% | 1.16B+20.1% | 962M+9.8% | 877M+4.5% | |
| Operating lease right-of-use | 118M+1394.8% | 7.87M-19.3% | 9.76M-5.7% | 10.4M-26.6% | 14.1M-25.7% | |
| Goodwill | 7.00M+0.0% | 7.00M+0.0% | 7.00M+0.0% | 7.00M+0.0% | 7.00M+0.0% | |
| Intangible assets | 1.53M-52.1% | 3.20M-37.5% | 5.12M-27.3% | 7.03M-40.5% | 11.8M+7.8% | |
| Long-term investments | — | 8.65M+2.3% | 8.45M-3.9% | 8.80M-77.8% | 39.6M-2.7% | |
| Deferred tax assets | — | — | — | — | 53.5M-7.4% | |
| Other non-current assets | 141M+503.5% | 23.4M-28.9% | 32.9M | — | — | |
| 264M-7.5% | 285M+3.0% | 277M-28.5% | 387M+40.2% | 276M+1.3% | ||
| Accounts payable | 124M-5.1% | 131M-6.1% | 139M-7.8% | 151M+91.7% | 78.7M-18.8% | |
| Deferred revenue | 25.6M+18.1% | 21.7M+17.6% | 18.4M-52.7% | 38.9M-2.7% | 40.0M+298.8% | |
| Short-term & current debt | 28.1M-41.9% | 48.4M-17.9% | 59.0M-5.3% | 62.3M-25.7% | 83.9M-21.3% | |
| Current lease liability | 3.07M-21.6% | 3.91M+13.4% | 3.45M+8.8% | 3.17M-29.7% | 4.51M-31.1% | |
| Other current liabilities | 15.8M-17.5% | 19.2M+106.9% | 9.29M-87.8% | 76.4M+376.9% | 16.0M+102.5% | |
| Finance lease liability (current) | 25.0M+1.0% | 24.8M-38.5% | 40.3M+1.8% | 39.6M+9.2% | 36.3M+4.1% | |
| 418M-5.1% | 440M-10.4% | 491M-25.4% | 659M+7.0% | 616M-3.7% | ||
| Long-term debt | 133M+0.7% | 132M-23.3% | 173M-17.8% | 210M-9.1% | 231M-18.6% | |
| Non-current lease liability | 13.0M+227.0% | 3.96M-37.2% | 6.31M-12.1% | 7.18M-25.2% | 9.60M-22.8% | |
| Operating lease liability (total) | 16.0M+103.5% | 7.87M-19.3% | 9.76M-5.7% | 10.4M-26.6% | 14.1M-25.7% | |
| Deferred tax liabilities | — | — | — | — | 23.8M-42.4% | |
| Other non-current liabilities | 12.2M+20.2% | 10.1M-0.9% | 10.2M | — | — | |
| 2.92B+10.0% | 2.65B+9.1% | 2.43B+28.6% | 1.89B+16.6% | 1.62B+11.3% | ||
| Common stock | 451M+1.0% | 447M+0.7% | 444M+0.8% | 440M+1.1% | 435M+1.0% | |
| Additional paid-in capital | 1.37B-0.3% | 1.38B-0.2% | 1.38B-0.3% | 1.38B-0.3% | 1.39B-0.3% | |
| Retained earnings | 896M+32.6% | 675M+44.5% | 468M+1019.1% | -50.9M+83.9% | -315M+32.2% | |
| Treasury stock | 9.07M+0.0% | 9.07M+0.0% | 9.07M+0.0% | 9.07M+0.0% | 9.07M+0.0% | |
| Accumulated other comprehensive income | -66.5M+10.4% | -74.2M-40.1% | -52.9M-11.4% | -47.5M-70.5% | -27.9M-68.9% | |
| Non-controlling interest | -14.7M-11.9% | -13.1M-140.6% | -5.46M-106.8% | -2.64M+60.1% | -6.62M-127.4% | |
| Total equity incl. non-controlling | 2.90B+10.0% | 2.64B+8.8% | 2.43B+28.5% | 1.89B+16.9% | 1.62B+11.0% | |
| Total liabilities & equity | 3.32B+7.8% | 3.08B+5.5% | 2.92B+14.6% | 2.55B+14.2% | 2.23B+6.5% | |
| Common shares issued | 113M+0.9% | 112M+0.7% | 111M+0.8% | 110M+1.0% | 109M+0.9% | |
| Common shares outstanding | 113M+0.9% | 112M+0.7% | 111M+0.8% | 110M+1.0% | 109M+0.9% | |
| Shares outstanding (cover) | 113M+0.9% | 112M+0.7% | 111M+0.8% | 110M+1.9% | 108M+0.0% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 395M-11.9% | 449M-33.7% | 677M+27.7% | 530M+25.8% | 421M+52.3% | ||
| Depreciation & amortization | 303M+13.8% | 266M+3.2% | 258M-11.8% | 293M+8.1% | 271M+12.5% | |
| Change in receivables | 10.5M-82.6% | 60.2M+1804.1% | 3.16M-79.3% | 15.2M+206.3% | -14.3M-143.3% | |
| Change in inventory | -11.8M-147.0% | -4.78M+45.0% | -8.68M-111.1% | 77.9M+76.3% | 44.2M+1428.6% | |
| Change in payables | -12.2M-134.0% | 35.8M+533.5% | -8.25M+60.5% | -20.9M+16.4% | -25.0M-34.6% | |
| -398M+0.5% | -400M+44.5% | -721M-118.8% | -329M+2.8% | -339M+6.8% | ||
| Capital expenditure | 444M+1.9% | 436M-1.9% | 445M+21.3% | 366M+16.8% | 314M+0.0% | |
| Free cash flow | -48.9M-490.6% | 12.5M-94.6% | 232M+42.0% | 163M+52.0% | 107M+389.8% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Proceeds from sale of PP&E | 7.86M+74.8% | 4.50M-63.5% | 12.3M-91.9% | 153M+342.5% | 34.5M-39.5% | |
| -33.4M-2.8% | -32.5M-6.7% | -30.4M+54.4% | -66.7M+13.3% | -76.9M-25.6% | ||
| Long-term debt issued | 13.8M-83.1% | 81.8M+238.3% | 24.2M | 0.00-100.0% | 96.1M | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| FX effect on cash | — | — | — | — | -6.25M-243.3% | |
| Net change in cash | -36.5M-425.2% | 11.2M+114.0% | -80.1M-161.7% | 130M+17341.6% | -753K+99.5% | |
| Interest paid | 4.74M+11.3% | 4.25M-5.8% | 4.52M+1.4% | 4.46M-2.3% | 4.56M-31.2% | |
| Income taxes paid | 20.3M-13.4% | 23.5M+89.7% | 12.4M-3.3% | 12.8M+54.5% | 8.29M+440.2% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 13.2B+130.0% | 5.75B+71.2% | 3.36B-28.0% | 4.66B+8.9% | 4.28B+53.7% | |
| P/E | 59.9×+116.8% | 27.6×+117.9% | 12.7×-59.2% | 31.1×+8.9% | 28.5×-15.7% | |
| P/S | 8.4×+110.9% | 4.0×+100.0% | 2.0×-35.3% | 3.1×+8.9% | 2.8×+29.0% | |
| P/B | 4.5×+109.0% | 2.2×+22.0% | 1.8×-38.3% | 2.9×+8.9% | 2.6×+38.1% | |
| P/FCF | — | 458.6×+2133.3% | 20.5×-52.7% | 43.4×+8.9% | 39.8× | |
| Earnings yield | 1.7%-53.9% | 3.6%-54.1% | 7.9%+145.0% | 3.2%-8.1% | 3.5%+18.6% | |
| FCF yield | — | 0.22%-95.5% | 4.9%+111.2% | 2.3%-8.1% | 2.5% | |
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F |
About this data
Source: TSEM’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all TSEM filings on SEC EDGAR → Not investment advice.