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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 9/10

vs
industry
vs
history
Cash to Debt 0.95
TSM's Cash to Debt is ranked lower than
53% of the 1014 Companies
in the Global Semiconductors industry.

( Industry Median: 4.92 vs. TSM: 0.95 )
TSM' s 10-Year Cash to Debt Range
Min: 0.49   Max: No Debt
Current: 0.95

Equity to Asset 0.68
TSM's Equity to Asset is ranked higher than
68% of the 1005 Companies
in the Global Semiconductors industry.

( Industry Median: 0.65 vs. TSM: 0.68 )
TSM' s 10-Year Equity to Asset Range
Min: 0.56   Max: 0.88
Current: 0.68

0.56
0.88
Interest Coverage 177.44
TSM's Interest Coverage is ranked higher than
60% of the 556 Companies
in the Global Semiconductors industry.

( Industry Median: 332.53 vs. TSM: 177.44 )
TSM' s 10-Year Interest Coverage Range
Min: 2.13   Max: 374.18
Current: 177.44

2.13
374.18
F-Score: 6
Z-Score: 6.67
M-Score: -2.77
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 9/10

vs
industry
vs
history
Operating margin (%) 35.76
TSM's Operating margin (%) is ranked higher than
99% of the 985 Companies
in the Global Semiconductors industry.

( Industry Median: 2.37 vs. TSM: 35.76 )
TSM' s 10-Year Operating margin (%) Range
Min: 6.33   Max: 40.1
Current: 35.76

6.33
40.1
Net-margin (%) 32.82
TSM's Net-margin (%) is ranked higher than
99% of the 985 Companies
in the Global Semiconductors industry.

( Industry Median: 1.59 vs. TSM: 32.82 )
TSM' s 10-Year Net-margin (%) Range
Min: 11.12   Max: 40.89
Current: 32.82

11.12
40.89
ROE (%) 22.98
TSM's ROE (%) is ranked higher than
97% of the 980 Companies
in the Global Semiconductors industry.

( Industry Median: 2.33 vs. TSM: 22.98 )
TSM' s 10-Year ROE (%) Range
Min: 5.23   Max: 28.41
Current: 22.98

5.23
28.41
ROA (%) 17.40
TSM's ROA (%) is ranked higher than
98% of the 994 Companies
in the Global Semiconductors industry.

( Industry Median: 1.20 vs. TSM: 17.40 )
TSM' s 10-Year ROA (%) Range
Min: 3.71   Max: 22.48
Current: 17.4

3.71
22.48
ROC (Joel Greenblatt) (%) 29.32
TSM's ROC (Joel Greenblatt) (%) is ranked higher than
87% of the 994 Companies
in the Global Semiconductors industry.

( Industry Median: 4.09 vs. TSM: 29.32 )
TSM' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 2.98   Max: 50.65
Current: 29.32

2.98
50.65
Revenue Growth (%) 19.60
TSM's Revenue Growth (%) is ranked higher than
93% of the 707 Companies
in the Global Semiconductors industry.

( Industry Median: -0.40 vs. TSM: 19.60 )
TSM' s 10-Year Revenue Growth (%) Range
Min: -1.4   Max: 44.2
Current: 19.6

-1.4
44.2
EBITDA Growth (%) 21.10
TSM's EBITDA Growth (%) is ranked higher than
89% of the 473 Companies
in the Global Semiconductors industry.

( Industry Median: -4.10 vs. TSM: 21.10 )
TSM' s 10-Year EBITDA Growth (%) Range
Min: -4.4   Max: 49.6
Current: 21.1

-4.4
49.6
EPS Growth (%) 23.10
TSM's EPS Growth (%) is ranked higher than
87% of the 414 Companies
in the Global Semiconductors industry.

( Industry Median: -3.60 vs. TSM: 23.10 )
TSM' s 10-Year EPS Growth (%) Range
Min: -17.1   Max: 77.3
Current: 23.1

-17.1
77.3
» TSM's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q1 2013

TSM Guru Trades in Q1 2013

Jim Simons 19,752,871 sh (+44.26%)
Ken Fisher 33,816,016 sh (+2.36%)
Sarah Ketterer 794,491 sh (+1.89%)
Howard Marks 35,070 sh (unchged)
Pioneer Investments 541,206 sh (unchged)
John Hussman 55,000 sh (unchged)
Steven Cohen Sold Out
Caxton Associates Sold Out
Richard Pzena 42,629 sh (-0.64%)
Jeremy Grantham 477,110 sh (-57.66%)
» More
Q2 2013

TSM Guru Trades in Q2 2013

Steven Cohen 633,811 sh (New)
Ron Baron 12,000 sh (New)
Howard Marks 104,598 sh (+198.25%)
Jeremy Grantham 1,148,210 sh (+140.66%)
Jim Simons 27,950,671 sh (+41.5%)
Sarah Ketterer 978,191 sh (+23.12%)
Pioneer Investments 541,206 sh (unchged)
John Hussman 55,000 sh (unchged)
Richard Pzena Sold Out
Ken Fisher 17,122,760 sh (-49.36%)
» More
Q3 2013

TSM Guru Trades in Q3 2013

Richard Pzena 131,379 sh (New)
Howard Marks 426,184 sh (+307.45%)
Jeremy Grantham 4,436,293 sh (+286.37%)
Ron Baron 23,000 sh (+91.67%)
Ken Fisher 17,379,169 sh (+1.5%)
John Hussman 55,000 sh (unchged)
Jim Simons 22,802,351 sh (-18.42%)
Pioneer Investments 336,306 sh (-37.86%)
Sarah Ketterer 416,591 sh (-57.41%)
Steven Cohen 170,186 sh (-73.15%)
» More
Q4 2013

TSM Guru Trades in Q4 2013

First Pacific Advisors 1,336,500 sh (New)
Ron Baron 435,900 sh (+1795.22%)
Howard Marks 2,160,340 sh (+406.9%)
Richard Pzena 385,844 sh (+193.69%)
Sarah Ketterer 539,191 sh (+29.43%)
Jim Simons 29,058,671 sh (+27.44%)
John Hussman 55,000 sh (unchged)
Steven Cohen Sold Out
Ken Fisher 16,852,913 sh (-3.03%)
Jeremy Grantham 3,883,500 sh (-12.46%)
Pioneer Investments 286,706 sh (-14.75%)
» More
» Details

Insider Trades

Latest Guru Trades with TSM

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Ron Baron 2013-12-31 Add 1795.22%0.03%$16.99 - $19.16 $ 20.7217%435900
Ron Baron 2013-09-30 Add 91.67%$15.75 - $18.54 $ 20.7222%23000
Ron Baron 2013-06-30 New Buy$16.73 - $20.21 $ 20.7212%12000
John Hussman 2011-09-30 Add 30%$10.94 - $12.98 $ 20.7272%65000
John Hussman 2011-03-31 New Buy0.01%$11.43 - $13.68 $ 20.7263%50000
Premium More recent guru trades are included for Premium Members only!!
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Top Ranked Articles about Taiwan Semiconductor Manufacturing Co Ltd

Howard Marks' Second Quarter Portfolio Changes
Since the formation of Oaktree in 1995, Guru Howard Marks has been responsible for ensuring the firm's adherence to its core investment philosophy, communicating closely with clients concerning products and strategies, and managing the firm. Oaktree’s mission is to provide highly professional management with a primary emphasis on risk control in a limited number of sophisticated investment specialties. Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 17.60
TSM's P/E(ttm) is ranked higher than
75% of the 578 Companies
in the Global Semiconductors industry.

( Industry Median: 24.40 vs. TSM: 17.60 )
TSM' s 10-Year P/E(ttm) Range
Min: 9.99   Max: 58.7
Current: 17.6

9.99
58.7
P/B 4.00
TSM's P/B is ranked lower than
76% of the 982 Companies
in the Global Semiconductors industry.

( Industry Median: 1.79 vs. TSM: 4.00 )
TSM' s 10-Year P/B Range
Min: 2   Max: 5.62
Current: 4

2
5.62
P/S 5.40
TSM's P/S is ranked lower than
83% of the 1026 Companies
in the Global Semiconductors industry.

( Industry Median: 1.66 vs. TSM: 5.40 )
TSM' s 10-Year P/S Range
Min: 2.82   Max: 8.39
Current: 5.4

2.82
8.39
PFCF 53.20
TSM's PFCF is ranked lower than
74% of the 529 Companies
in the Global Semiconductors industry.

( Industry Median: 20.20 vs. TSM: 53.20 )
TSM' s 10-Year PFCF Range
Min: 6   Max: 165.67
Current: 53.2

6
165.67
EV-to-EBIT 15.40
TSM's EV-to-EBIT is ranked higher than
71% of the 706 Companies
in the Global Semiconductors industry.

( Industry Median: 20.57 vs. TSM: 15.40 )
TSM' s 10-Year EV-to-EBIT Range
Min: 6.6   Max: 574
Current: 15.4

6.6
574
PEG 1.20
TSM's PEG is ranked higher than
70% of the 261 Companies
in the Global Semiconductors industry.

( Industry Median: 1.88 vs. TSM: 1.20 )
TSM' s 10-Year PEG Range
Min: 0.24   Max: 5.4
Current: 1.2

0.24
5.4
Shiller P/E 23.30
TSM's Shiller P/E is ranked higher than
74% of the 278 Companies
in the Global Semiconductors industry.

( Industry Median: 28.02 vs. TSM: 23.30 )
TSM' s 10-Year Shiller P/E Range
Min: 10.23   Max: 37.63
Current: 23.3

10.23
37.63

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.90
TSM's Dividend Yield is ranked higher than
62% of the 474 Companies
in the Global Semiconductors industry.

( Industry Median: 1.59 vs. TSM: 1.90 )
TSM' s 10-Year Dividend Yield Range
Min: 2.16   Max: 9.18
Current: 1.9

2.16
9.18
Dividend Payout 0.34
TSM's Dividend Payout is ranked higher than
62% of the 333 Companies
in the Global Semiconductors industry.

( Industry Median: 0.39 vs. TSM: 0.34 )
TSM' s 10-Year Dividend Payout Range
Min: 1.2   Max: 11.94
Current: 0.34

1.2
11.94
Dividend growth (3y) -7.20
TSM's Dividend growth (3y) is ranked higher than
67% of the 134 Companies
in the Global Semiconductors industry.

( Industry Median: 12.60 vs. TSM: -7.20 )
TSM' s 10-Year Dividend growth (3y) Range
Min: 0   Max: -7.2
Current: -7.2

Yield on cost (5-Year) 1.36
TSM's Yield on cost (5-Year) is ranked lower than
56% of the 516 Companies
in the Global Semiconductors industry.

( Industry Median: 1.73 vs. TSM: 1.36 )
TSM' s 10-Year Yield on cost (5-Year) Range
Min: 1.54   Max: 6.56
Current: 1.36

1.54
6.56

Valuation & Return

vs
industry
vs
history
Price/Net Current Asset Value 43.20
TSM's Price/Net Current Asset Value is ranked lower than
87% of the 467 Companies
in the Global Semiconductors industry.

( Industry Median: 6.80 vs. TSM: 43.20 )
TSM' s 10-Year Price/Net Current Asset Value Range
Min: 7.37   Max: 76.74
Current: 43.2

7.37
76.74
Price/Tangible Book 4.00
TSM's Price/Tangible Book is ranked lower than
71% of the 954 Companies
in the Global Semiconductors industry.

( Industry Median: 2.00 vs. TSM: 4.00 )
TSM' s 10-Year Price/Tangible Book Range
Min: 1.82   Max: 6.28
Current: 4

1.82
6.28
Price/DCF (Projected) 2.00
TSM's Price/DCF (Projected) is ranked higher than
50% of the 365 Companies
in the Global Semiconductors industry.

( Industry Median: 1.50 vs. TSM: 2.00 )
TSM' s 10-Year Price/DCF (Projected) Range
Min: 0.67   Max: 63.25
Current: 2

0.67
63.25
Price/Median PS Value 1.10
TSM's Price/Median PS Value is ranked higher than
58% of the 938 Companies
in the Global Semiconductors industry.

( Industry Median: 1.10 vs. TSM: 1.10 )
TSM' s 10-Year Price/Median PS Value Range
Min: 0.55   Max: 2.1
Current: 1.1

0.55
2.1
Price/Peter Lynch Fair Value 0.90
TSM's Price/Peter Lynch Fair Value is ranked higher than
83% of the 115 Companies
in the Global Semiconductors industry.

( Industry Median: 1.80 vs. TSM: 0.90 )
TSM' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.47   Max: 4.94
Current: 0.9

0.47
4.94
Price/Graham Number 1.70
TSM's Price/Graham Number is ranked higher than
52% of the 571 Companies
in the Global Semiconductors industry.

( Industry Median: 1.60 vs. TSM: 1.70 )
TSM' s 10-Year Price/Graham Number Range
Min: 0.79   Max: 5.52
Current: 1.7

0.79
5.52
Earnings Yield (Greenblatt) 6.50
TSM's Earnings Yield (Greenblatt) is ranked higher than
73% of the 750 Companies
in the Global Semiconductors industry.

( Industry Median: 4.80 vs. TSM: 6.50 )
TSM' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.2   Max: 15.2
Current: 6.5

0.2
15.2
Forward Rate of Return (Yacktman) 19.56
TSM's Forward Rate of Return (Yacktman) is ranked higher than
94% of the 574 Companies
in the Global Semiconductors industry.

( Industry Median: 1.07 vs. TSM: 19.56 )
TSM' s 10-Year Forward Rate of Return (Yacktman) Range
Min: 7.6   Max: 61.8
Current: 19.56

7.6
61.8

Business Description

Industry: Semiconductors » Semiconductors
Compare:INTC, BRCM, ARMH, ADI, AUO » details
Traded in other countries:2330.Taiwan, TSFA.Germany
Taiwan Semiconductor Manufacturing Co Ltd was incorporated on February 21, 1987. It manufactures semiconductors using its advanced or mainstream manufacturing processes for its customers based on their own or third parties' proprietary integrated circuit designs. It offers a wafer fabrication processes, including processes to manufacture CMOS logic, mixed-signal, radio frequency, embedded memory, BiCMOS mixed-signal and other semiconductors. It also offers design, mask making, probing, testing and assembly services. The Company manufactures semiconductors using the complementary metal oxide silicon, CMOS and BiCMOS processes. The CMOS process is currently the dominant semiconductor manufacturing process. The BiCMOS process combines the high speed of the bipolar circuitry and the low power consumption and high density of the CMOS circuitry. It uses the CMOS process to manufacture logic semiconductors, memory semiconductors including flash memory, mixed-signal/ radio frequency (RF) semiconductors, which combine analog and digital circuitry in a single semiconductor, micro-electro-mechanical-system (MEMS), which combines micrometer featured mechanical parts, analog and digital circuitry in a single semiconductor, and embedded memory semiconductors, which combine logic and memory in a single semiconductor. It counts among its customers in semiconductor companies, ranging from fabless semiconductor and systems companies such as Advanced Micro Devices, Inc., Altera Corporation, Broadcom Corporation, Marvell Semiconductor Inc., MediaTek Inc., nVidia Corporation and Qualcomm Incorporated, to integrated device manufacturers such as LSI Corporation, STMicroelectronics and Texas Instruments Inc.

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