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Electronic Technology

Taiwan Semiconductor Manufacturing Co., Ltd.

  • 242.00 TWD
  • 0.00
  • 0.00%
  • Taiwan
    Mar 20, 2019
  • Ticker
    TAI(2330)
  • Prev. close
    242.00
  • Market cap (TWD)
    6,275.15B
  • Market cap (USD)
    203,692.43M
  • Shares
    25,930.38M

Company Background

Taiwan Semiconductor Mfg., better known as TSMC, is the world's largest semiconductor foundry.

It receives orders to make large-scale integrated circuits for smartphones, in addition to a variety of semiconductors for PCs and TVs.

According to U.S. research company Gartner, TSMC accounted for 53.7% of the market for semiconductor production outsourcing in 2014.

TSMC was established in 1987 at the initiative of the Taiwanese government to promote the country's semiconductor industry.

Morris Chang, the de facto founder and chairman, had served as group vice president at U.S. chipmaker Texas Instruments before taking the chairmanship at TSMC, by request of the government.

TSMC was the first in the world to specialize in semiconductor production outsourcing; it gets most of its orders from U.S. brands. In 2014, it contracted with Apple to make central processing units for the iPhone, significantly raising earnings.

The company, which also has plants in China and Singapore, faces a challenging future. In January of 2015, it sold its unprofitable light-emitting diode business. It must foster new businesses.

Chang is a charismatic corporate manager, but the market is closely watching for when the 80-something businessman retires from the managerial front line.

Business Summary

Taiwan Semiconductor Manufacturing Co., Ltd. engages in the manufacture and sale of integrated circuits and wafer semiconductor devices. Its chips are used in personal computers and peripheral products; information applications; wired and wireless communications systems products; automotive and industrial equipment including consumer electronics such as digital video compact disc player, digital television, game consoles, and digital cameras. The company was founded by Chung Mou Chang on February 21, 1987 and is headquartered in Hsinchu, Taiwan.

Financial Highlights

Dec 2018 TWDUSD
Revenue1,031.36B34,202.62M
Gross Profit472,206.17M15,659.57M
Operating income385,724.97M12,791.63M
Income before tax394,452.48M13,081.06M
Net income351,130.88M11,644.40M
EBITDA678,271.27M22,493.22M
Diluted EPS13.540.44
Dividends Per Share80.26
Total Assets2,090.12B68,000.39M
Total liabilities412,631.64M13,424.59M
Total equity1,676.81B54,553.72M
Operating cash flow588,802.63M19,526.21M
Currency in TWDCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 762,835.02M 843,512.49M 947,909.27M 977,442.68M 1,031.36B
Gross Profit 362,590.64M 393,657.61M 456,509.03M 472,804.41M 472,206.17M
Operating income 297,840.87M 321,903.44M 377,902.88M 386,860.22M 385,724.97M
Income before tax 298,147.87M 346,296.78M 382,463.78M 393,147.08M 394,452.48M
Net income 263,898.79M 306,573.83M 334,247.18M 343,111.47M 351,130.88M
EBITDA 498,092.41M 544,409.01M 601,731.28M 647,002.92M 678,271.27M
Diluted EPS 10.18 11.82 12.89 13.23 13.54
Dividends Per Share 4.49 6 7 8 8
Total Assets 1,495.13B 1,657.51B 1,886.45B 1,991.86B 2,090.12B
Total liabilities 449,458.09M 434,883.81M 496,404.17M 469,102M 412,631.64M
Total equity 1,045.54B 1,221.67B 1,389.24B 1,522.05B 1,676.81B
Operating cash flow 424,778.09M 534,617.50M 548,501.57M 595,753.07M 588,802.63M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 25,173.40M 26,563.91M 29,391.80M 32,128.71M 34,202.62M
Gross Profit 11,965.41M 12,397.07M 14,154.96M 15,541.16M 15,659.57M
Operating income 9,828.68M 10,137.39M 11,717.62M 12,716.16M 12,791.63M
Income before tax 9,838.81M 10,905.58M 11,859.04M 12,922.81M 13,081.06M
Net income 8,708.60M 9,654.63M 10,363.99M 11,278.13M 11,644.40M
EBITDA 16,436.94M 17,144.54M 18,657.86M 21,267.10M 22,493.22M
Diluted EPS 0.33 0.37 0.39 0.43 0.44
Dividends Per Share 0.14 0.18 0.21 0.26 0.26
Total Assets 47,311.36M 50,461.78M 58,532.85M 66,934.21M 68,000.39M
Total liabilities 14,222.45M 13,239.68M 15,402.40M 15,763.63M 13,424.59M
Total equity 33,084.88M 37,192.79M 43,105.53M 51,146.98M 54,553.72M
Operating cash flow 14,017.59M 16,836.18M 17,007.37M 19,582.51M 19,526.21M

Valuation Measures

Dec 2018
PER16.65
ROA17.20%
ROE21.95%
Operating margin37.39%
Profit margin34.04%

Key executives

  • Vice Chairman & Chief Executive Officer: Che Chia Wei
  • Senior Vice President-Operations: J. K. Wang
  • Head-Finance & Accounting, Senior Deputy GM: Li Mei Ho
  • SVP-Information Technology & Materials Management: J. K. Lin
  • Vice President-Research & Technology Development: Michael Wu

Shareholders

  • National Development Fund of The Executive Yuan (6.3%)
  • Capital Research & Management Co. (World Investors) (4.4%)
  • The Vanguard Group, Inc. (2.5%)
  • Capital Research & Management Co. (Global Investors) (2.4%)
  • BlackRock Fund Advisors (2.2%)
  • Norges Bank Investment Management (1.4%)
  • OppenheimerFunds, Inc. (1.0%)
  • BlackRock Japan Co., Ltd. (0.9%)
  • Fidelity Management & Research Co. (0.7%)
  • APG Asset Management NV (0.7%)

Contact Details

  • Website:http://www.tsmc.com
  • Address: Hsinchu Science Park, No. 8 Li-Hsin 6th Road, Hsinchu, 300 78, Taiwan
  • Phone: +886.3.563.6688

Related Companies

  • Taiwan Omnivision Investment Holding Co. Ltd.
  • VisEra Holding Cayman Ltd.
  • Taiwan Semiconductor Manufacturing Co. Ltd. /LED Ops/
  • TSMC Guang Neng Investment Ltd.
  • Tsmc Solar Ltd.
  • Tai Chi Solar Energy Co. Ltd.
  • TSMC Global Ltd.
  • Tsmc Design Technology Canada, Inc.
  • TSMC (China) Co., Ltd.
  • Taiwan Semiconductor Manufacturing North America Co. Ltd.
  • VisEra Technologies Co. Ltd.
  • Applied Materials Asia Pacific /Mechanical Equipment Ops/
  • NuFlare Technology, Inc. /Mechanical Equipment Ops./
  • ASML Hong Kong Ltd. /Mechanical Equipment Ops/
  • Global Chip Corp.
  • TSMC International Investment Co. Ltd.
  • TSMC Japan Ltd.
  • Taiwan Semiconductor Manufacturing Co. Europe BV
  • TSMC North America
  • TSMC Partners Ltd.
  • Kung Cherng Investment Co. Ltd.
  • Chi-Hsin Investment Co. Ltd.
  • Po Cherng Investment Co., Ltd.
  • Hsin Ruey Investment Co. Ltd.
  • Chi Cheung Investment Co. Ltd. /TW/

Competitors

  • Semiconductor Manufacturing International Corp.
  • Tower Semiconductor Ltd
  • ASE Technology Holding Co., Ltd.
  • Vanguard International Semiconductor Co.
  • Amkor Technology, Inc.
  • United Microelectronics Corp.
  • X-FAB Silicon Foundries NV
  • DB HiTek Co. LTD
  • ITEK Semiconductor, Inc.
  • MPI Corp.
  • Pan Jit International Inc.
  • Ledtech Electronics Corp.
Last Updated on 20 Mar, 2019

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