TSM financial statements
The full income statement, balance sheet, and cash-flow statement for Taiwan Semiconductor Manufacturing Co. (ADR) (TSM), 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)
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.
| 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 | 122B+35.6% | 90.1B+29.9% | 69.4B-8.7% | 76.0B+33.7% | 56.8B+25.0% | |
| 73.2B+44.7% | 50.6B+34.1% | 37.7B-16.7% | 45.3B+54.2% | 29.3B+21.5% | ||
| Cost of revenue | 49.0B+24.0% | 39.5B+24.9% | 31.7B+3.0% | 30.7B+11.8% | 27.5B+28.9% | |
| Research & development | 7.91B+24.4% | 6.36B+8.6% | 5.85B+6.8% | 5.48B+22.7% | 4.47B+20.1% | |
| Operating income | 62.1B+50.9% | 41.2B+39.2% | 29.6B-21.4% | 37.6B+61.7% | 23.3B+20.9% | |
| Interest expense | 397M+21.5% | 327M-15.1% | 385M-2.4% | 394M+103.5% | 194M+174.2% | |
| Pre-tax income | 65.5B+49.7% | 43.8B+39.3% | 31.4B-18.2% | 38.4B+61.8% | 23.7B+19.6% | |
| Income tax | 11.1B+43.8% | 7.73B+87.8% | 4.12B-18.7% | 5.06B+101.5% | 2.51B+0.3% | |
| 54.4B+50.9% | 36.0B+32.0% | 27.3B-18.1% | 33.3B+57.1% | 21.2B+22.3% | ||
| Net income to common | 54.5B+51.0% | 36.1B+32.0% | 27.3B-18.0% | 33.3B+57.1% | 21.2B+22.3% | |
| $10.51+51.1% | $6.96+32.0% | $5.27-18.0% | $6.43+57.2% | $4.09+22.2% | ||
| EPS (basic) | $10.51+51.0% | $6.96+32.0% | $5.27-18.0% | $6.43+57.2% | $4.09+22.2% | |
| Weighted-avg shares (basic) | 5.19B+0.0% | 5.19B-0.0% | 5.19B+0.0% | 5.19B-0.0% | 5.19B+0.0% | |
| Weighted-avg shares (diluted) | 5.19B+0.0% | 5.19B+0.0% | 5.19B-0.0% | 5.19B-0.0% | 5.19B+0.0% | |
| Dividends per share | $3.29+32.1% | $2.49+26.7% | $1.97+6.5% | $1.85-4.1% | $1.92+13.3% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 122B+29.1% | 94.4B+32.0% | 71.5B+7.1% | 66.8B+15.2% | 58.0B+49.1% | ||
| Cash & equivalents | 88.3B+35.9% | 65.0B+36.1% | 47.8B+9.3% | 43.7B+13.7% | 38.4B+63.4% | |
| Inventory | 9.20B+4.5% | 8.80B+7.5% | 8.18B+13.7% | 7.20B+3.3% | 6.97B+42.4% | |
| 253B+23.8% | 205B+13.4% | 180B+11.6% | 162B+20.2% | 134B+36.7% | ||
| Property, plant & equipment | 118B+19.2% | 98.9B-1.0% | 99.9B+14.0% | 87.7B+23.0% | 71.3B+28.6% | |
| Total non-current assets | 131B+19.3% | 110B+1.2% | 109B+14.8% | 94.7B+24.0% | 76.4B+28.6% | |
| 48.6B+21.5% | 40.0B+30.1% | 30.7B-4.3% | 32.1B+17.3% | 27.4B+21.6% | ||
| Short-term & current debt | 4.33B+148.2% | 1.75B+665.6% | 228M-61.3% | 589M+271.0% | 159M+71.4% | |
| 81.0B+9.8% | 73.7B+8.8% | 67.7B+1.7% | 66.6B+17.3% | 56.8B+72.4% | ||
| Long-term debt | 27.3B-3.5% | 28.3B-4.9% | 29.8B+9.7% | 27.2B+23.3% | 22.0B+143.2% | |
| 171B+31.8% | 130B+16.0% | 112B+18.3% | 94.5B+21.8% | 77.6B+18.7% | ||
| Total equity incl. non-controlling | 172B+31.7% | 131B+16.2% | 113B+18.6% | 95.0B+22.3% | 77.6B+18.7% | |
| Common shares issued | — | 5.19B+0.0% | 5.19B+0.0% | 5.19B+0.0% | 5.19B+0.0% | |
| Shares outstanding (cover) | 5.19B-0.0% | 5.19B+0.0% | 5.19B+0.0% | 5.19B+0.0% | 5.19B+0.0% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 73.0B+28.4% | 56.9B+42.7% | 39.9B-26.3% | 54.1B+35.8% | 39.8B+42.5% | ||
| Depreciation & amortization | — | 20.6B+20.9% | 17.1B+16.3% | 14.7B-3.0% | 15.1B+34.3% | |
| Intangible amortization | — | 286M-3.7% | 297M+1.1% | 294M+0.0% | 294M+20.4% | |
| Capital expenditure | — | 29.8B-2.3% | 30.5B-16.1% | 36.3B+20.9% | 30.1B+74.4% | |
| Free cash flow | — | 27.1B+189.0% | 9.38B-47.1% | 17.7B+81.3% | 9.78B-8.8% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt issued | 2.79B+161.1% | 1.07B-61.2% | 2.75B-58.7% | 6.66B-49.0% | 13.1B+62.4% | |
| Long-term debt repaid | 1.74B+699.6% | 218M-62.5% | 581M+293.2% | 148M+58.6% | 93.1M-91.4% | |
| Common stock issued | 0.00-100.0% | 193M+2108.4% | 8.73M-53.7% | 18.9M-16.3% | 22.5M+6628566.1% | |
| Common stock repurchased | 0.00-100.0% | 96.2M | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 17.1B+32.0% | 12.9B+26.8% | 10.2B+6.5% | 9.58B-4.1% | 9.98B+13.3% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 1.58T+53.9% | 1.02T+89.9% | 539B+39.6% | 386B-38.1% | 624B+10.3% | |
| P/E | 29.0×+2.0% | 28.4×+75.7% | 16.2×-11.1% | 18.2×-38.1% | 29.4×-9.8% | |
| P/S | 12.9×+13.4% | 11.4×+60.1% | 7.1×+4.4% | 6.8×-38.1% | 11.0×-11.7% | |
| P/B | 9.2×+16.8% | 7.9×+38.3% | 5.7×+14.6% | 5.0×-38.1% | 8.0×-7.0% | |
| P/FCF | 58.2×+53.9% | 37.8×+24.2% | 30.4×-23.0% | 39.5×-38.1% | 63.8×+20.9% | |
| Earnings yield | 3.5%-1.9% | 3.5%-43.1% | 6.2%+12.5% | 5.5%+61.5% | 3.4%+10.9% | |
| FCF yield | 1.7%-35.0% | 2.6%-19.5% | 3.3%+29.9% | 2.5%+61.5% | 1.6%-17.3% | |
| Dividend yield | 1.1%-14.2% | 1.3%-33.3% | 1.9%-23.8% | 2.5%+54.9% | 1.6%+2.7% | |
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F |
About this data
Source: TSM’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 TSM filings on SEC EDGAR → Not investment advice.