Also trades as: 2330.TW (TAI) · $vol 2117M · TSMWF (OTC) · $vol 69M · TSFA.F (FSX) · $vol 1M

$437.73

+13.36 (+3.15%)

Weekly Expected Move ±4.7%

$379 $399 $419 $438 $458

NYSE · Technology · Semiconductors · Tech Score Sell · Power 44 · $2.20T mcap · 5.18B float · 0.236% daily turnover · Short 36% of daily vol

Credit Risk of going bust: lower than 87% of companies Debt: 1.4% of company value Bonds: none of note held by US funds details ▾

If the stock fell to about $0.61 (down 99.9%), Taiwan Semiconductor Manufacturing Company Limited would be worth roughly what it owes.
Total debt $30.16B against a stock market value of $2.20T.
Distance to default 12.30 (Merton model): prices to 2026-10-26, balance sheet 2026-09-30, debt counted $18.35B (short-term plus half of long-term), stock volatility 39.0%; Altman Z'' 8.55. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.

Overview Chart Smart Money Financials Income Statement Cash Flow Balance Sheet Earnings

Analysis Technicals Weather Peers ESG Institutions ETF Exposure Dark Pool Short Interest

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

$560

Low

$615

Avg Target

$670

High

Based on 2 analysts since Oct 15, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 18Hold: 7Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$574.75

Analysts4

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-10-16	Barclays	Simon Coles	$650	$670	+20	+58.7%	$422.25
2026-10-15	Needham	Charles Shi	$530	$560	+30	+30.2%	$430.00
2026-09-01	Stifel Nicolaus	—	Initiated	$515	—	+24.4%	$414.00
2026-08-11	Bernstein	Mark Li	$200	$554	+354	+30.8%	$423.67
2026-07-27	Needham	Charles Shi	$480	$530	+50	+31.4%	$403.41
2026-07-17	D.A. Davidson	—	$450	$500	+50	+22.0%	$409.74
2026-07-17	Barclays	—	$625	$650	+25	+58.6%	$409.74
2026-07-16	Susquehanna	—	$575	$600	+25	+43.0%	$419.48
2026-06-29	Barclays	Simon Coles	$450	$625	+175	+44.6%	$432.35
2026-06-22	Susquehanna	Mehdi Hosseini	$400	$575	+175	+22.6%	$468.86
2026-06-16	Jefferies	—	Initiated	$700	—	+58.6%	$441.40
2026-04-16	Needham	—	$410	$480	+70	+30.4%	$368.13
2026-02-12	D.A. Davidson	—	Initiated	$450	—	+22.2%	$368.10
2026-01-16	Barclays	—	$355	$450	+95	+31.7%	$341.64
2026-01-15	Needham	—	$360	$410	+50	+17.4%	$349.35
2025-12-07	UBS	—	Initiated	$330	—	+12.0%	$294.72
2025-10-17	Barclays	Simon Coles	$330	$355	+25	+18.4%	$299.84
2025-10-16	Needham	—	$210	$360	+150	+18.7%	$303.26
2025-10-10	Susquehanna	—	$265	$400	+135	+33.4%	$299.88
2025-10-09	Barclays	—	$325	$330	+5	+8.4%	$304.52
2025-09-16	Barclays	—	$215	$325	+110	+24.0%	$262.06
2025-07-14	Susquehanna	Mehdi Hosseini	$200	$265	+65	+15.9%	$228.67
2025-04-21	Barclays	Simon Coles	Initiated	$215	—	+45.4%	$147.86
2024-07-19	Needham	Charles Shi	$168	$210	+42	+26.7%	$165.77
2024-06-20	Bernstein	Mark Li	Initiated	$200	—	+11.3%	$179.69
2024-06-17	Susquehanna	Mehdi Hosseini	$180	$200	+20	+15.9%	$172.51
2024-04-10	Needham	Charles Shi	$118	$168	+50	+15.5%	$145.40
2024-04-02	Susquehanna	Mehdi Hosseini	$135	$180	+45	+27.2%	$141.49
2023-07-20	Susquehanna	Mehdi Hosseini	$88	$135	+47	+37.7%	$98.07
2023-06-01	Needham	Charles Shi	$110	$118	+8	+18.2%	$99.81
2022-09-14	Needham	Charles Shi	Initiated	$110	—	+38.5%	$79.40
2022-07-25	Susquehanna	Mehdi Hosseini	$100	$88	-12	+2.0%	$86.30
2022-06-14	Susquehanna	Mehdi Hosseini	Initiated	$100	—	+14.8%	$87.11
2022-01-15	Cowen & Co.	Krish Sankar	Initiated	$125	—	-11.1%	$140.66

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

B+

Oct 27, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. TSM receives an overall rating of B+. Strongest factors: ROE (5/5), ROA (5/5). Areas of concern: P/E (2/5), P/B (1/5).

Rating Change History

Date	From	To
2026-01-22	A-	B+

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ — Grade A+

Profitability

100

Balance Sheet

Earnings Quality

Growth

Value

—

Momentum

100

Safety

—

Cash Flow

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

—

Piotroski F-Score

7/9

✓ ✓ ✓ ✓ ✓ ✗ ✗ ✓ ✓

Beneish M-Score

-2.28

Unlikely Manipulator

Ohlson O-Score

-14.80

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

Score: 70.5/100

Trend: Deteriorating

Earnings Quality

75/100

OCF/NI: 1.26x

Accruals: -7.5%

The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. TSM scores 7/9, signaling strong financial health across all three dimensions. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. TSM's score of -2.28 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. TSM's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. TSM receives an estimated rating of A (score: 70.5/100), with a deteriorating trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). TSM's score of 75/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

24.42x

PEG

0.40x

P/S

12.59x

P/B

8.89x

P/FCF

—

P/OCF

—

EV/EBITDA

—

EV/Revenue

—

EV/EBIT

—

EV/FCF

—

Earnings Yield

—

FCF Yield

—

Shareholder Yield

—

Graham Number

$3860.82

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 24.4x earnings, TSM commands a growth premium. Graham's intrinsic value formula yields $3860.82 per share, suggesting a potential 810% margin of safety at the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.834

NI / EBT

Interest Burden

1.011

EBT / EBIT

EBIT Margin

0.611

EBIT / Rev

Asset Turnover

0.570

Rev / Assets

Equity Multiplier

1.451

Assets / Equity

ROE

42.6%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. TSM's ROE of 42.6% is driven by EBIT Margin (0.611) as the dominant factor.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

15.00%

Fair P/E

38.50x

Intrinsic Value

$18945.74

Price/Value

—

Margin of Safety

—

Premium

—

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with TSM's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. TSM actually compounded EPS at 43.0% over three years; the model uses 15%, the highest rate it will extrapolate — of 4,457 company-quarters that grew faster than 200%, none sustained it over the following seven years. TSM trades at a premium to its adjusted intrinsic value of $18945.74, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 38.5x compares to the current market P/E of 24.4x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$424.37

Median 1Y

$553.29

5th Pctile

$291.43

95th Pctile

$1050.68

Ann. Volatility

38.4%

Analyst Target

$574.75

25th–75th percentile 5th–95th percentile Median path Historical Analyst target

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

90,557

+8.0% YoY

Revenue / Employee

$42,498,216

Rev: $3,848,510,949,000

Profit / Employee

$19,166,691

NI: $1,735,678,080,000

SGA / Employee

$1,107,036

Avg labor cost proxy

R&D / Employee

$2,749,425

Innovation spend

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
ROE	29.7%	30.8%	33.9%	36.7%	39.3%	37.0%	33.1%	28.7%	26.5%	25.5%	26.4%	28.3%	30.2%	31.6%	34.5%	35.0%	35.7%	37.0%	40.7%	42.6%	42.61%
ROA	18.3%	19.0%	20.4%	22.1%	22.9%	22.1%	19.8%	17.2%	16.0%	15.8%	16.6%	17.8%	19.0%	20.0%	22.2%	23.3%	23.6%	24.5%	27.4%	29.4%	29.36%
ROIC	34.2%	35.6%	38.5%	41.1%	44.2%	41.1%	34.6%	30.3%	29.5%	29.9%	31.6%	34.0%	38.8%	43.3%	48.4%	46.5%	47.8%	51.0%	52.5%	60.5%	60.52%
ROCE	22.5%	23.4%	24.6%	26.2%	29.1%	28.1%	25.9%	23.2%	21.1%	20.8%	22.0%	24.1%	25.8%	27.0%	30.8%	30.8%	31.6%	33.2%	35.6%	37.5%	37.50%
Gross Margin	52.7%	55.6%	59.1%	60.4%	62.2%	56.3%	54.1%	54.3%	53.0%	53.1%	53.2%	57.8%	59.0%	58.8%	58.6%	59.5%	62.3%	66.2%	67.7%	66.4%	66.41%
Operating Margin	41.7%	45.6%	49.1%	50.6%	52.0%	45.5%	42.0%	41.7%	41.6%	42.0%	42.5%	47.5%	49.0%	48.5%	49.6%	50.6%	53.9%	58.0%	60.3%	58.6%	58.62%
Net Margin	37.0%	41.3%	44.4%	45.8%	43.5%	40.7%	37.8%	38.6%	38.2%	38.0%	36.8%	42.8%	41.4%	43.1%	42.7%	45.7%	48.3%	50.5%	55.6%	51.1%	51.07%
EBITDA Margin	67.9%	69.3%	71.5%	69.4%	71.2%	70.3%	71.0%	71.8%	65.7%	72.3%	70.4%	73.1%	68.6%	70.5%	91.7%	69.5%	72.0%	75.2%	83.8%	73.4%	73.36%
FCF Margin	16.9%	23.3%	26.6%	24.8%	23.1%	21.7%	13.2%	10.0%	16.0%	23.1%	31.7%	33.6%	30.0%	28.9%	27.5%	24.5%	26.7%	26.8%	26.7%	31.5%	31.49%
OCF Margin	70.1%	73.2%	75.0%	72.3%	71.1%	71.2%	65.2%	61.7%	57.9%	58.0%	62.0%	60.7%	63.1%	64.2%	62.8%	59.7%	60.0%	58.3%	60.3%	64.8%	64.76%
ROE 3Y Avg	snapshot only																				31.33%
ROE 5Y Avg	snapshot only																				30.46%
ROA 3Y Avg	snapshot only																				21.21%
ROIC 3Y Avg	snapshot only																				92.03%
ROIC Economic	snapshot only																				30.44%
Cash ROA	snapshot only																				31.99%
Cash ROIC	snapshot only																				81.11%
CROIC	snapshot only																				39.43%
NOPAT Margin	snapshot only																				48.32%
Pretax Margin	snapshot only																				61.74%
R&D / Revenue	snapshot only																				5.96%
SGA / Revenue	snapshot only																				2.08%
SBC / Revenue	snapshot only																				0.00%

Valuation

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
P/E Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	24.425
P/S Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	12.586
P/B Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	8.892
P/FCF	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
P/OCF	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EV/EBITDA	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EV/Revenue	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EV/EBIT	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EV/FCF	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Earnings Yield	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF Yield	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
PEG Ratio	snapshot only																				0.403
Graham Number	snapshot only																				$3860.82

Leverage & Solvency

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Current Ratio	2.12	2.09	2.25	2.49	2.08	2.29	2.42	2.15	2.33	2.39	2.47	2.57	2.36	2.39	2.37	2.69	2.62	2.49	2.46	2.58	2.584
Quick Ratio	1.86	1.85	2.00	2.22	1.86	2.04	2.13	1.88	2.06	2.13	2.21	2.30	2.14	2.18	2.15	2.47	2.42	2.31	2.25	2.37	2.367
Debt/Equity	0.35	0.34	0.36	0.33	0.31	0.29	0.30	0.29	0.28	0.28	0.27	0.26	0.25	0.22	0.20	0.19	0.20	0.19	0.17	0.14	0.141
Net Debt/Equity	-0.21	-0.22	-0.22	-0.23	-0.24	-0.23	-0.18	-0.18	-0.22	-0.26	-0.28	-0.29	-0.34	-0.38	-0.39	-0.36	-0.37	-0.39	-0.38	-0.43	-0.433
Debt/Assets	0.20	0.20	0.21	0.19	0.18	0.18	0.18	0.18	0.17	0.17	0.17	0.17	0.16	0.14	0.13	0.13	0.13	0.13	0.11	0.10	0.098
Debt/EBITDA	0.69	0.68	0.69	0.62	0.56	0.55	0.60	0.63	0.64	0.64	0.60	0.55	0.51	0.46	0.35	0.35	0.37	0.35	0.32	0.26	0.260
Net Debt/EBITDA	-0.41	-0.42	-0.43	-0.43	-0.44	-0.45	-0.36	-0.39	-0.50	-0.60	-0.62	-0.61	-0.70	-0.79	-0.68	-0.66	-0.69	-0.72	-0.73	-0.80	-0.802
Interest Coverage	123.46	109.33	100.55	94.90	98.37	93.38	88.60	84.40	80.85	84.56	95.32	112.50	132.51	147.95	150.41	208.26	315.91	353.89	453.36	521.42	521.422
Equity Multiplier	1.73	1.73	1.74	1.70	1.71	1.64	1.61	1.64	1.61	1.59	1.58	1.55	1.58	1.56	1.53	1.47	1.46	1.47	1.46	1.44	1.437
Cash Ratio	snapshot only																				2.041
Debt Service Coverage	snapshot only																				650.296
Cash to Debt	snapshot only																				4.084
FCF to Debt	snapshot only																				1.590
Defensive Interval	snapshot only																				4169.0 days

Efficiency & Turnover

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Asset Turnover	0.49	0.50	0.50	0.52	0.52	0.50	0.47	0.43	0.41	0.41	0.44	0.46	0.47	0.49	0.52	0.54	0.52	0.52	0.54	0.57	0.570
Inventory Turnover	4.65	4.59	4.36	4.43	4.42	4.42	4.08	3.87	4.18	4.32	4.49	4.36	4.71	4.77	4.89	5.13	5.33	5.19	4.62	4.73	4.731
Receivables Turnover	9.25	9.10	9.34	9.27	10.55	12.64	10.72	16.24	9.99	12.83	12.08	20.88	12.26	14.08	15.19	13.09	13.84	13.56	13.16	12.57	12.574
Payables Turnover	3.94	5.13	4.63	4.55	3.97	4.90	4.53	3.70	3.98	5.38	5.86	6.83	5.16	5.84	6.34	9.01	8.76	8.37	8.96	8.86	8.855
DSO	39	40	39	39	35	29	34	22	37	28	30	17	30	26	24	28	26	27	28	29	29.0 days
DIO	79	80	84	82	83	83	89	94	87	85	81	84	77	76	75	71	69	70	79	77	77.2 days
DPO	93	71	79	80	92	74	81	99	92	68	62	53	71	63	58	40	42	44	41	41	41.2 days
Cash Conversion Cycle	25	49	44	42	25	37	43	18	32	45	49	48	36	40	41	59	53	54	66	65	65.0 days
Fixed Asset Turnover	snapshot only																				1.097
Operating Cycle	snapshot only																				106.2 days
Cash Velocity	snapshot only																				1.236
Capital Intensity	snapshot only																				2.025

Growth (YoY)

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Revenue	18.5%	23.4%	29.3%	37.5%	42.6%	32.9%	18.6%	4.1%	-4.5%	-1.6%	9.4%	22.7%	33.9%	39.9%	39.5%	37.0%	31.9%	31.0%	30.8%	36.4%	36.42%
Net Income	16.0%	22.9%	38.6%	56.0%	67.6%	52.1%	24.3%	-1.2%	-15.6%	-14.1%	-2.0%	18.9%	38.1%	51.0%	56.5%	51.5%	48.7%	49.4%	55.2%	62.4%	62.36%
EPS	16.0%	22.9%	38.6%	56.0%	67.6%	52.2%	24.3%	-1.2%	-15.6%	-14.1%	-2.0%	19.0%	38.2%	51.1%	56.5%	51.5%	48.7%	49.4%	55.1%	62.3%	62.35%
FCF	-11.9%	46.7%	97.7%	74.8%	95.2%	24.2%	-41.1%	-58.0%	-33.9%	4.6%	1.6%	3.1%	1.5%	75.5%	20.8%	-0.1%	17.3%	21.2%	27.2%	75.3%	75.29%
EBITDA	18.8%	20.5%	27.6%	37.3%	46.0%	37.2%	20.6%	6.4%	-5.7%	-2.3%	8.6%	21.6%	36.7%	40.9%	52.4%	46.2%	41.0%	42.4%	29.5%	38.1%	38.10%
Op. Income	14.7%	22.8%	39.2%	56.8%	72.5%	56.1%	27.3%	0.7%	-17.8%	-16.8%	-4.2%	17.3%	43.5%	57.6%	61.8%	55.4%	46.8%	48.0%	50.5%	59.6%	59.63%
OCF Growth	snapshot only																				47.87%
Asset Growth	snapshot only																				36.39%
Equity Growth	snapshot only																				39.69%
Debt Growth	snapshot only																				3.38%
Shares Change	snapshot only																				0.01%
Dividend Growth	snapshot only																				29.31%

Growth (CAGR)

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Revenue 3Y	15.5%	19.6%	23.0%	25.8%	28.4%	25.2%	21.9%	18.6%	17.3%	17.3%	18.8%	20.6%	22.2%	22.3%	21.9%	20.5%	19.0%	21.7%	25.9%	31.8%	31.84%
Revenue 5Y	10.9%	11.9%	14.1%	16.6%	18.3%	18.1%	17.1%	16.2%	16.0%	17.5%	19.3%	20.5%	22.0%	22.0%	22.5%	22.9%	23.3%	24.2%	25.1%	26.8%	26.81%
EPS 3Y	19.0%	26.6%	33.7%	38.9%	42.2%	35.5%	27.5%	21.1%	18.0%	17.1%	19.1%	22.4%	25.1%	25.5%	24.0%	21.2%	20.2%	24.7%	33.5%	43.0%	43.03%
EPS 5Y	12.3%	13.1%	16.8%	20.9%	23.5%	23.5%	21.7%	19.9%	19.0%	21.6%	23.8%	25.8%	27.4%	26.4%	26.0%	26.2%	27.5%	29.4%	32.6%	35.2%	35.15%
Net Income 3Y	19.0%	26.6%	33.7%	38.9%	42.2%	35.5%	27.5%	21.1%	18.0%	17.1%	19.1%	22.4%	25.1%	25.5%	24.0%	21.2%	20.2%	24.7%	33.5%	43.0%	43.04%
Net Income 5Y	12.3%	13.1%	16.8%	20.9%	23.5%	23.5%	21.7%	19.9%	19.0%	21.6%	23.8%	25.8%	27.4%	26.4%	26.0%	26.2%	27.5%	29.4%	32.6%	35.2%	35.15%
EBITDA 3Y	16.4%	20.8%	25.3%	29.3%	32.8%	29.9%	25.9%	21.5%	17.8%	17.3%	18.7%	21.1%	23.5%	23.6%	25.9%	23.6%	22.0%	25.2%	28.9%	34.9%	34.90%
EBITDA 5Y	12.2%	12.8%	15.3%	17.5%	19.3%	19.1%	17.9%	17.4%	16.8%	18.8%	20.8%	22.8%	24.7%	24.7%	27.0%	26.1%	25.8%	26.5%	26.9%	29.1%	29.09%
Gross Profit 3Y	18.1%	24.9%	31.3%	36.1%	39.9%	34.2%	27.9%	22.2%	18.2%	17.6%	19.5%	22.6%	25.6%	25.9%	24.5%	21.6%	19.3%	23.2%	29.8%	38.3%	38.32%
Gross Profit 5Y	11.5%	12.3%	15.6%	19.3%	22.2%	22.3%	21.1%	19.8%	18.7%	21.0%	23.4%	25.1%	26.9%	26.2%	26.1%	26.0%	26.3%	28.0%	30.3%	33.0%	32.99%
Op. Income 3Y	19.2%	27.2%	34.8%	40.2%	44.3%	37.2%	29.5%	22.7%	17.6%	16.8%	19.3%	22.8%	26.7%	27.0%	25.4%	22.4%	20.1%	24.7%	32.6%	42.7%	42.74%
Op. Income 5Y	11.5%	12.4%	16.3%	20.4%	23.8%	23.9%	22.4%	20.7%	19.2%	21.8%	24.5%	26.6%	28.8%	27.6%	27.5%	27.5%	27.9%	30.1%	32.8%	35.7%	35.66%
FCF 3Y	1.6%	18.2%	42.4%	38.4%	50.9%	78.6%	34.0%	9.0%	4.4%	24.0%	45.1%	44.6%	48.1%	31.6%	23.2%	20.0%	25.0%	30.5%	59.3%	93.3%	93.27%
FCF 5Y	5.3%	17.0%	27.6%	23.5%	15.9%	12.1%	-3.5%	-7.6%	6.2%	16.5%	34.9%	35.6%	41.7%	59.9%	50.2%	39.7%	27.4%	32.3%	36.3%	39.6%	39.56%
OCF 3Y	24.7%	30.5%	36.5%	35.7%	37.8%	34.6%	26.5%	20.3%	15.0%	15.4%	20.5%	17.5%	18.0%	17.1%	14.9%	13.0%	12.5%	13.9%	22.7%	34.0%	33.98%
OCF 5Y	15.6%	16.7%	19.6%	21.5%	22.4%	22.6%	18.9%	17.8%	16.9%	18.1%	22.3%	21.8%	24.3%	24.8%	24.3%	23.1%	22.7%	23.1%	25.4%	26.4%	26.43%
Assets 3Y	21.2%	22.2%	24.7%	29.6%	29.9%	29.1%	28.1%	27.7%	26.1%	25.6%	24.6%	22.8%	21.6%	21.3%	17.3%	16.6%	16.8%	19.7%	22.1%	22.3%	22.29%
Assets 5Y	14.6%	15.6%	17.0%	20.3%	20.0%	19.7%	20.2%	22.7%	21.5%	21.5%	21.7%	23.6%	24.2%	24.9%	23.4%	22.8%	23.4%	24.3%	24.8%	24.7%	24.66%
Equity 3Y	9.0%	9.9%	17.1%	19.9%	21.6%	22.5%	22.8%	23.3%	23.2%	23.3%	24.2%	24.3%	25.5%	25.4%	22.4%	22.2%	23.0%	24.1%	26.4%	27.8%	27.76%
Book Value 3Y	9.0%	9.9%	17.1%	19.9%	21.6%	22.5%	22.8%	23.3%	23.2%	23.3%	24.2%	24.3%	25.5%	25.4%	22.4%	22.2%	23.0%	24.1%	26.3%	27.8%	27.75%
Dividend 3Y	0.8%	1.6%	2.4%	3.2%	2.4%	1.6%	0.8%	0.0%	0.8%	1.5%	3.7%	5.7%	7.6%	9.3%	9.3%	9.4%	8.6%	8.2%	8.6%	8.9%	8.95%

Growth Quality

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Revenue Stability	0.82	0.81	0.82	0.82	0.81	0.86	0.92	0.92	0.89	0.94	0.99	0.97	0.93	0.92	0.93	0.91	0.90	0.90	0.91	0.90	0.899
Earnings Stability	0.75	0.76	0.78	0.78	0.76	0.84	0.91	0.90	0.82	0.87	0.96	0.95	0.89	0.89	0.90	0.88	0.85	0.84	0.84	0.82	0.816
Margin Stability	0.94	0.94	0.93	0.92	0.91	0.92	0.93	0.93	0.92	0.91	0.91	0.91	0.91	0.92	0.94	0.95	0.95	0.93	0.92	0.91	0.908
Rev. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	1.00	1.00	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.000
FCF Positive Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Earnings Persistence	0.94	0.91	0.85	0.50	0.50	0.50	0.90	1.00	0.94	0.94	0.99	0.92	0.85	0.50	0.50	0.50	0.81	0.80	0.50	0.50	0.500
Earnings Smoothness	0.85	0.79	0.68	0.56	0.49	0.59	0.78	0.99	0.83	0.85	0.98	0.83	0.68	0.59	0.56	0.59	0.61	0.60	0.57	0.52	0.525
ROE Trend	0.03	0.03	0.03	0.05	0.07	0.04	0.01	-0.04	-0.06	-0.07	-0.06	-0.03	-0.02	0.00	0.05	0.05	0.06	0.07	0.07	0.08	0.078
Gross Margin Trend	0.02	0.02	0.03	0.05	0.07	0.07	0.05	0.02	-0.01	-0.03	-0.03	-0.03	-0.01	0.01	0.03	0.03	0.05	0.06	0.08	0.09	0.091
FCF Margin Trend	-0.02	0.10	0.13	0.09	0.03	0.00	-0.09	-0.12	-0.04	0.01	0.12	0.16	0.11	0.07	0.05	0.03	0.04	0.01	-0.03	0.02	0.024
Sustainable Growth Rate	16.4%	18.0%	21.4%	24.8%	28.0%	26.4%	23.1%	19.3%	17.3%	16.6%	17.3%	19.1%	20.7%	22.1%	24.6%	25.2%	26.1%	27.6%	31.1%	33.1%	33.09%
Internal Growth Rate	11.2%	12.5%	14.8%	17.6%	19.5%	18.7%	16.1%	13.1%	11.6%	11.5%	12.2%	13.7%	15.0%	16.3%	18.8%	20.1%	20.8%	22.3%	26.4%	29.5%	29.54%

Cash Flow Quality

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
OCF/Net Income	1.88	1.92	1.86	1.70	1.62	1.63	1.54	1.53	1.49	1.52	1.64	1.55	1.58	1.56	1.48	1.38	1.33	1.24	1.20	1.26	1.257
FCF/OCF	0.24	0.32	0.36	0.34	0.32	0.31	0.20	0.16	0.28	0.40	0.51	0.55	0.48	0.45	0.44	0.41	0.45	0.46	0.44	0.49	0.486
FCF/Net Income	snapshot only																				0.611
OCF/EBITDA	snapshot only																				0.850
CapEx/Revenue	53.2%	50.0%	48.3%	47.5%	48.1%	49.5%	52.0%	51.7%	41.9%	34.9%	30.3%	27.1%	33.1%	35.2%	35.3%	35.2%	33.3%	31.5%	33.6%	33.3%	33.28%
CapEx/Depreciation	snapshot only																				2.205
Accruals Ratio	-0.16	-0.17	-0.17	-0.16	-0.14	-0.14	-0.11	-0.09	-0.08	-0.08	-0.11	-0.10	-0.11	-0.11	-0.11	-0.09	-0.08	-0.06	-0.05	-0.08	-0.075
Sloan Accruals	snapshot only																				0.023
Cash Flow Adequacy	snapshot only																				1.446
Earnings Quality Score	snapshot only																				0.750

Dividends & Buybacks

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Dividend Yield	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.00%
Dividend/Share	$51.25	$52.50	$53.75	$55.00	$55.00	$55.00	$55.00	$55.00	$56.25	$57.50	$61.25	$65.01	$70.01	$75.01	$80.01	$85.01	$89.76	$95.02	$102.52	$109.93	$120.00
Payout Ratio	44.9%	41.5%	36.8%	32.3%	28.7%	28.6%	30.3%	32.7%	34.8%	34.8%	34.4%	32.5%	31.3%	30.0%	28.7%	28.0%	27.0%	25.5%	23.7%	22.3%	22.34%
FCF Payout Ratio	99.3%	68.2%	55.7%	55.4%	54.6%	57.6%	96.9%	1.3%	84.4%	57.6%	41.1%	37.9%	41.8%	42.8%	44.4%	49.5%	45.6%	44.7%	44.7%	36.6%	36.55%
Total Payout Ratio	44.9%	41.7%	36.9%	32.4%	28.8%	28.6%	30.3%	32.7%	34.8%	34.8%	34.7%	32.8%	31.6%	30.3%	28.7%	28.0%	27.0%	25.5%	23.7%	22.3%	22.34%
Div. Increase Streak	0	0	0	1	1	1	1	0	1	1	1	0	1	1	1	1	1	1	1	1	1
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Buyback Yield	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total Shareholder Return	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

DuPont Factors

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Tax Burden (NI/EBT)	0.89	0.89	0.89	0.89	0.87	0.86	0.85	0.84	0.86	0.86	0.84	0.84	0.82	0.82	0.82	0.83	0.84	0.84	0.84	0.83	0.834
Interest Burden (EBT/EBIT)	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	1.01	1.01	1.01	1.01	1.01	1.01	1.01	1.01	1.00	1.00	1.00	1.01	1.011
EBIT Margin	0.42	0.43	0.46	0.48	0.51	0.51	0.50	0.48	0.45	0.44	0.44	0.46	0.48	0.49	0.51	0.52	0.53	0.56	0.60	0.61	0.611
Asset Turnover	0.49	0.50	0.50	0.52	0.52	0.50	0.47	0.43	0.41	0.41	0.44	0.46	0.47	0.49	0.52	0.54	0.52	0.52	0.54	0.57	0.570
Equity Multiplier	1.63	1.63	1.66	1.66	1.72	1.68	1.67	1.66	1.66	1.61	1.59	1.59	1.59	1.58	1.55	1.50	1.51	1.51	1.49	1.45	1.451

Per Share

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
EPS (Diluted TTM)	$114.22	$126.38	$146.18	$170.21	$191.46	$192.29	$181.64	$168.17	$161.67	$165.25	$177.98	$200.03	$223.39	$249.62	$278.62	$303.11	$332.14	$372.83	$432.26	$492.10	$492.10
Book Value/Share	$414.43	$446.29	$481.38	$527.97	$559.77	$593.58	$614.89	$645.67	$661.25	$701.07	$731.06	$769.44	$818.49	$880.13	$883.39	$963.81	$1042.00	$1135.63	$1240.28	$1346.25	$1358.22
Tangible Book/Share	$409.26	$441.35	$476.13	$522.82	$554.76	$588.90	$610.29	$641.15	$656.86	$696.78	$726.74	$765.18	$813.42	$875.22	$878.62	$958.88	$1037.19	$1130.86	$1235.60	$1346.25	$1346.25
Revenue/Share	$306.11	$330.92	$362.17	$400.44	$436.53	$439.94	$429.66	$416.85	$416.81	$433.04	$470.18	$511.30	$558.15	$605.68	$655.87	$700.24	$736.32	$793.21	$858.09	$955.17	$953.56
FCF/Share	$51.61	$76.96	$96.43	$99.32	$100.75	$95.55	$56.75	$41.67	$66.63	$99.91	$149.13	$171.76	$167.65	$175.30	$180.22	$171.59	$196.62	$212.52	$229.27	$300.75	$289.65
OCF/Share	$214.45	$242.29	$271.49	$289.62	$310.56	$313.10	$280.00	$257.24	$241.30	$251.16	$291.73	$310.53	$352.17	$388.65	$411.67	$418.37	$441.76	$462.21	$517.40	$618.61	$619.39
Cash/Share	$232.34	$250.15	$279.65	$292.90	$305.92	$311.29	$292.07	$304.30	$330.63	$377.05	$401.89	$417.08	$479.25	$532.72	$517.50	$530.47	$589.98	$652.27	$678.32	$772.78	$774.64
EBITDA/Share	$210.34	$226.42	$251.06	$278.68	$307.18	$310.57	$302.76	$296.38	$289.67	$303.33	$328.87	$360.28	$396.01	$427.49	$501.18	$526.82	$558.40	$608.87	$648.93	$727.47	$727.47
Debt/Share	$145.32	$153.95	$172.64	$173.37	$171.26	$172.16	$182.26	$187.88	$184.38	$194.09	$197.76	$197.42	$201.92	$195.94	$176.45	$183.03	$205.26	$210.97	$206.03	$189.21	$189.21
Net Debt/Share	$-87.02	$-96.20	$-107.01	$-119.53	$-134.65	$-139.13	$-109.81	$-116.42	$-146.26	$-182.96	$-204.12	$-219.66	$-277.33	$-336.78	$-341.05	$-347.44	$-384.72	$-441.31	$-472.29	$-583.57	$-583.57

Academic Models

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Piotroski F-Score	6	8	8	8	8	9	7	4	5	5	6	9	9	8	8	8	8	8	8	7	7
Beneish M-Score	-2.84	-2.84	-2.83	-2.62	-2.75	-3.30	-3.00	-2.89	-2.76	-2.38	-2.70	-2.66	-2.56	-2.65	-2.70	-2.56	-2.65	-2.25	-1.92	-2.28	-2.280
Ohlson O-Score	snapshot only																				-14.795
ROIC (Greenblatt)	snapshot only																				39.67%
Net-Net WC	snapshot only																				$399.24
EVA	snapshot only																				$1998340190826.66

Credit

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Credit Rating	snapshot only																				A
Credit Score	70.78	70.22	72.34	72.60	74.19	73.59	74.65	72.95	74.89	74.26	74.60	74.19	74.12	73.89	75.81	75.35	75.54	75.04	74.67	70.45	70.450
Credit Grade	snapshot only																				6
Credit Trend	snapshot only																				-4.905
Implied Spread (bps)	snapshot only																				150.000
Industry Credit Rank	snapshot only																				35
Sector Credit Rank	snapshot only																				54

TSM NYSE

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Workforce & Productivity

Scaling Efficiency

Sign in to InsiderStreet