TAIWAN SEMICONDUCTOR MANUFACTURING CO (TSM) Company Report

Analyst Coverage

Research analysts who have asked questions during TAIWAN SEMICONDUCTOR MANUFACTURING CO earnings calls.

Gokul Hariharan

JPMorgan Chase & Co

5 questions for TSM

Also covers: 3711.TW, ASX, GDS +2 more

Sunny Lin

UBS

5 questions for TSM

Also covers: 3711.TW, ASX, UMC

Brett Simpson

Arete Research

4 questions for TSM

Charlie Chan

Morgan Stanley

4 questions for TSM

Also covers: 3711.TW, ASX, UMC

Chia Yi Chen

Citigroup

3 questions for TSM

Also covers: 3711.TW, ASX, UMC

Zheng Lu

Goldman Sachs

3 questions for TSM

Also covers: 3711.TW, ASX, UMC

Arthur Lai

Macquarie Group

2 questions for TSM

Brad Lin

Bank of America

2 questions for TSM

Also covers: 3711.TW, ASX, UMC

Bruce Lu

Goldman Sachs

2 questions for TSM

Also covers: ASX, UMC

Laura Chen

Citigroup

2 questions for TSM

Also covers: ASX, UMC

Sreekrishnan Sankarnarayanan

Wolfe Research, LLC

2 questions for TSM

Also covers: AAPL, AEIS, AMAT +21 more

Yu Shi

Susquehanna International Group, LLP

2 questions for TSM

Also covers: ACLS, ACMR, AMAT +11 more

Charlie Chen

China Renaissance

1 question for TSM

Also covers: EM, MOGU, RLX +1 more

Felix Pan (Junhong Pan)

KGI Securities

1 question for TSM

Also covers: ASX, UMC

Krish Sankar

TD Cowen

1 question for TSM

Also covers: AAPL, AEIS, AMAT +21 more

Mehdi Hosseini

Susquehanna Financial Group

1 question for TSM

Also covers: AEIS, ALAB, AMAT +19 more

Rick Hsu

Daiwa Securities

1 question for TSM

Also covers: ASX

Yu Jang Lai

Macquarie Group Limited

1 question for TSM

Latest news

Recent press releases and 8-K filings for TSM.

Taiwan Semiconductor Manufacturing Co. Plans Significant U.S. Expansion

TSM

New Projects/Investments

A potential trade agreement between the U.S. and Taiwan is expected to include a commitment from Taiwan Semiconductor Manufacturing Co. (TSMC) to build at least five additional fabrication plants in Arizona, effectively doubling its planned U.S. footprint.
This commitment is separate from TSMC's existing plans, which include one completed Arizona plant, a second slated to open in 2028, and four other previously pledged U.S. facilities.
Following these reports, TSMC's shares rose approximately 1.4%.

6 hours ago

Bloomberg

TSMC Expands Fab Investments Amidst Growing Semiconductor Equipment Market

TSM

New Projects/Investments

Revenue Acceleration/Inflection

The global semiconductor manufacturing equipment market was valued at $93.03 billion in 2024 and is projected to reach $224.44 billion by 2033, growing at a CAGR of 10.28% from 2025 to 2033.
Overall global fab equipment spending is set to reach $110 billion in 2025, with total market sales forecast to hit $125.5 billion in the same year, driven by record investments in AI and high-performance computing.
Foundries are leading this spending, with planned expenditures of approximately $61 billion in 2025, and foundry and logic equipment sales projected to reach $64.8 billion.
TSMC is significantly expanding its capacity, with its CoWoS capacity estimated to surge to 80,000 wafers per month in 2025 from around 40,000 in 2024 to meet overwhelming customer demand.
TSMC has expanded its total investment commitment for its Arizona fabs to US$ 65 billion and plans US$ 28 billion to US$ 32 billion in capital expenditures in 2024, including a US$ 15.7 billion 2nm fab in Kaohsiung and over US$ 20 billion for two Japanese facilities.

11 hours ago

Press Release

TSM Announces December and Full-Year 2025 Revenue

TSM

Earnings

Revenue Acceleration/Inflection

TSMC reported net revenue of NT$335.00 billion for December 2025, which represents a 2.5% decrease from November 2025 but a 20.4% increase from December 2024.
For the full year, January through December 2025, TSMC's net revenue totaled NT$3,809.05 billion, marking a 31.6% increase compared to the same period in 2024.

4 days ago

6-K

Taiwan Semiconductor Manufacturing Company Limited announces capital appropriations and bond issuance

TSM

New Projects/Investments

Debt Issuance

Share Buyback

Taiwan Semiconductor Manufacturing Company Limited's board of directors approved US$15.1 billion in capital appropriations for machinery equipment for advanced technology, advanced packaging, R&D, and real estate for the month of November 2025.
The company issued unsecured bonds totaling NT$23.5 billion in November 2025, across three tranches with coupon rates ranging from 1.50% to 1.58% and maturities between November 2030 and November 2035.
TSMC acquired assets totaling NT$18.6 billion in fixed-income investments and NT$0.6 billion in equity investments during November 2025.
The company cancelled 91,000 common shares, resulting in a paid-in capital reduction of NT$910,000, with November 11, 2025, as the record date.

Dec 23, 2025, 11:13 AM

6-K

TSMC Announces November 2025 Revenue

TSM

Earnings

Revenue Acceleration/Inflection

Taiwan Semiconductor Manufacturing Company Limited (TSMC) reported consolidated net revenue of approximately NT$343.61 billion for November 2025.
This figure represents a 6.5% decrease from October 2025 but an increase of 24.5% compared to November 2024.
For the period of January through November 2025, TSMC's total consolidated revenue reached NT$3,474.05 billion, an increase of 32.8% over the same period in 2024.

Dec 10, 2025, 11:03 AM

6-K

TSMC 2nm Trade Secrets Violation Leads to Charges Against Tokyo Electron Taiwan

TSM

Legal Proceedings

Tokyo Electron Taiwan Ltd. has been indicted by Taiwanese prosecutors for alleged involvement in the theft of Taiwan Semiconductor Manufacturing Co.'s (TSMC) highly sensitive 2-nanometer semiconductor technology.
Prosecutors are seeking fines totaling approximately US$3.82 million (NT$120 million) from Tokyo Electron Taiwan for four alleged offenses. This marks the first time a corporation has been charged under Taiwan's National Security Act in a case involving national core key technology.
The indictment states that Tokyo Electron Taiwan failed to implement adequate preventive measures, leading to criminal liability, while former TSMC engineer Chen Li-ming and two other TSMC engineers face prison terms for supplying confidential information.

Dec 2, 2025, 9:44 AM

Bloomberg

TSMC Files Lawsuit Against Former Senior Vice President Over Trade Secrets

TSM

Legal Proceedings

Management Change

TSMC filed a lawsuit on November 25, 2025, against its former Senior Vice President, Wei-Jen Lo, for alleged breach of his employment contract, non-compete agreement, and the Trade Secrets Act.
Lo, who retired from TSMC on July 27, 2025, had been transferred to Corporate Strategy Development in March 2024 and was no longer responsible for R&D supervision, but allegedly continued to gather information on advanced technologies.
During his exit interview, Lo stated he would join an academic institution, but subsequently joined Intel as Executive Vice President.
TSMC believes there is a high probability that Lo will use or transfer the company's trade secrets and confidential information to Intel, necessitating legal action including claims for damages.

Nov 25, 2025, 11:24 AM

6-K

Taiwan Semiconductor Manufacturing Company Limited Reports Q3 and Nine-Month 2025 Financial Results

TSM

Earnings

Debt Issuance

Dividends

For the three months ended September 30, 2025, Taiwan Semiconductor Manufacturing Company Limited reported net revenue of $989,918,318 thousand NTD and net income of $451,755,362 thousand NTD, resulting in basic earnings per share of $17.44 NTD.
For the nine months ended September 30, 2025, the company's net revenue was $2,762,963,851 thousand NTD, with net income of $1,209,981,447 thousand NTD, and basic earnings per share of $46.75 NTD.
As of September 30, 2025, cash and cash equivalents stood at $2,470,759,384 thousand NTD.
Net cash generated by operating activities for the nine months ended September 30, 2025, was $1,549,466,838 thousand NTD.
The company recognized approximately NT$5.3 billion in earthquake losses, net of insurance claim, in the first quarter of 2025, primarily impacting cost of revenue and other operating income and expenses.

Nov 14, 2025, 11:05 AM

6-K

TSMC Board Approves Q3 2025 Results, Dividend, and US$15 Billion Capital Appropriations

TSM

Earnings

Dividends

New Projects/Investments

The Board of Directors approved the 2025 third quarter Business Report and Financial Statements, reporting consolidated revenue of NT$989.92 billion, net income of NT$452.30 billion, and diluted earnings per share of NT$17.44.
A cash dividend of NT$6.0 per share for the third quarter of 2025 was approved, with the ex-dividend date set for March 17, 2026, and payment on April 9, 2026.
The Board approved capital appropriations of approximately US$14,981.60 million to support long-term capacity plans, including fab construction, installation of advanced technology capacity, and 2026 R&D capital investments.
An equipment sale valued between US$20 million and US$23 million to Vanguard International Semiconductor Corporation (VIS) was also approved.

Nov 12, 2025, 11:14 AM

6-K

TSMC Reports Strong October 2025 Revenue

TSM

Earnings

Revenue Acceleration/Inflection

Taiwan Semiconductor Manufacturing Company Limited (TSMC) announced net revenue of NT$367.47 billion for October 2025.
This figure represents a 16.9% increase from October 2024 and an 11.0% increase from September 2025.
For the cumulative period of January through October 2025, TSMC's total net revenue reached NT$3,130.44 billion, which is a 33.8% increase compared to the same period in 2024.