Taiwan Semiconductor Manufacturing Co., Ltd.
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
Financial Highlights
Dec 2022 | TWD | USD |
Revenue | 2,263.89B | 75,936.46M |
Gross Profit | 1,316.82B | 44,169.55M |
Operating income | 1,121.63B | 37,622.49M |
Income before tax | 1,136.39B | 38,117.38M |
Net income | 1,016.53B | 34,096.91M |
EBITDA | 1,558.89B | 52,289.07M |
Diluted EPS | 39.20 | 1.31 |
Dividends Per Share | 10.99 | 0.36 |
Total Assets | 4,964.77B | 161,532.39M |
Total liabilities | 2,004.29B | 65,210.91M |
Total equity | 2,945.65B | 95,838.79M |
Operating cash flow | 1,620.83B | 54,366.78M |
Currency in TWD | Currency in USD |
Historical Data
Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | |
Revenue | 1,031.36B | 1,069.98B | 1,339.23B | 1,587.41B | 2,263.89B |
Gross Profit | 472,206.17M | 465,418.52M | 683,554.56M | 788,820.56M | 1,316.82B |
Operating income | 385,724.97M | 373,173.14M | 566,037.89M | 650,166.76M | 1,121.63B |
Income before tax | 394,452.48M | 387,001.11M | 581,184.36M | 657,523.23M | 1,136.39B |
Net income | 351,130.88M | 345,263.66M | 517,885.38M | 596,540.01M | 1,016.53B |
EBITDA | 678,271.27M | 660,057.38M | 897,762.58M | 1,072.56B | 1,558.89B |
Diluted EPS | 13.54 | 13.31 | 19.97 | 23.00 | 39.20 |
Dividends Per Share | 8 | 9.50 | 10 | 11 | 10.99 |
Total Assets | 2,090.12B | 2,264.80B | 2,760.71B | 3,725.50B | 4,964.77B |
Total liabilities | 412,631.64M | 642,709.60M | 910,089.40M | 1,554.77B | 2,004.29B |
Total equity | 1,676.81B | 1,621.41B | 1,849.65B | 2,168.28B | 2,945.65B |
Operating cash flow | 588,802.63M | 630,455.78M | 834,147.35M | 1,116.81B | 1,620.83B |
Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | |
Revenue | 34,202.62M | 34,613.23M | 45,483.45M | 56,831.67M | 75,936.46M |
Gross Profit | 15,659.57M | 15,055.89M | 23,215.00M | 28,240.88M | 44,169.55M |
Operating income | 12,791.63M | 12,071.83M | 19,223.88M | 23,276.88M | 37,622.49M |
Income before tax | 13,081.06M | 12,519.15M | 19,738.28M | 23,540.25M | 38,117.38M |
Net income | 11,644.40M | 11,168.98M | 17,588.51M | 21,356.96M | 34,096.91M |
EBITDA | 22,493.22M | 21,352.29M | 30,489.97M | 38,399.20M | 52,289.07M |
Diluted EPS | 0.44 | 0.43 | 0.67 | 0.82 | 1.31 |
Dividends Per Share | 0.26 | 0.30 | 0.33 | 0.39 | 0.36 |
Total Assets | 68,000.39M | 75,551.42M | 98,252.94M | 134,655.13M | 161,532.39M |
Total liabilities | 13,424.59M | 21,440.09M | 32,389.82M | 56,195.84M | 65,210.91M |
Total equity | 54,553.72M | 54,088.47M | 65,828.78M | 78,370.86M | 95,838.79M |
Operating cash flow | 19,526.21M | 20,394.71M | 28,329.46M | 39,983.60M | 54,366.78M |
Valuation Measures
Dec 2022 | |
PER | 11.44 |
ROA | 23.39% |
ROE | 39.75% |
Operating margin | 49.54% |
Profit margin | 44.90% |
Management
- Vice Chairman & Chief Executive Officer: Che Chia Wei
- Senior Vice President-Operations: Y. P. Chin
- Chief Financial Officer & Vice President: Wendell Huang
- SVP-Information Technology & Materials Management: J. K. Lin
- Senior Vice President-Research & Development: Y. J. Mii
Shareholders
- National Development Fund of The Executive Yuan (6.3%)
- The Vanguard Group, Inc. (3.3%)
- GIC Pte Ltd. (Investment Management) (3.3%)
- Capital Research & Management Co. (World Investors) (1.9%)
- BlackRock Fund Advisors (1.8%)
- Norges Bank Investment Management (1.6%)
- Labor Pension Fund Supervisory Committee (1.2%)
- Fidelity Management & Research Co. LLC (1.1%)
- Yuanta Securities Investment Trust Co., Ltd. (1.0%)
- Schroder Investment Management Ltd. (0.8%)
Contact Details
- Website:http://www.tsmc.com
- Address: Hsinchu Science Park, No. 8 Li-Hsin 6th Road, Hsinchu, 300 96, Taiwan
- Phone: +886.3.563.6688
Related Companies
- TSMC Arizona Corp.
- TSMC Korea Ltd.
- TSMC Design Technology Japan, Inc.
- TMSC Global Ltd.
- TSMC Nanjing Co., Ltd.
- 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 Company Limited
- TSMC Europe B.V.
- 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 , Inc.
- TSMC Partners Ltd.
- Kung Cherng Investment Co. Ltd.
- Chi-Hsin Investment Co. Ltd.
- Po Cherng Investment Co., Ltd.
- Hsin Ruey Investment Co. Ltd.
Competitors
- United Microelectronics Corp.
- Tower Semiconductor Ltd
- ASE Technology Holding Co., Ltd.
- Samsung Electronics Co., Ltd.
- SkyWater Technology Inc
- Amkor Technology, Inc.
- Vanguard International Semiconductor Corp
- GlobalFoundries Inc.
- Sai MicroElectronics Inc. Class A
- Hana Micron Inc.
- Episil Technologies Inc.
- Intel Corporation
- ITEK, Inc.
- 3S KOREA Co., Ltd.
- BCnC Co., Ltd.
- China Wire & Cable Co., Ltd.
- KnJ Co., Ltd.
- LAT CO., LTD.
- Leaguer (Shenzhen) Microelectronics Corp. Class A
- Ligitek Electronics Co., Ltd.
- Mospec Semiconductor Corp.
- Smoltek Nanotech Holding AB
- Taiwan Speciality Chemicals Corporation
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Last Updated on 22 Sep, 2023Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.