GURUFOCUS.COM » STOCK LIST » USA » NYSE » Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) » Definitions » Net Current Asset Value
Switch to:

Taiwan Semiconductor Manufacturing Co Net Current Asset Value

: $0.30 (As of Mar. 2022)
View and export this data going back to 1997. Start your Free Trial

In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).

Taiwan Semiconductor Manufacturing Co's net current asset value per share for the quarter that ended in Mar. 2022 was $0.30.

The historical rank and industry rank for Taiwan Semiconductor Manufacturing Co's Net Current Asset Value or its related term are showing as below:

TSM' s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 6.68   Med: 15.74   Max: 1116.67
Current: 292.62

During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Taiwan Semiconductor Manufacturing Co was 1116.67. The lowest was 6.68. And the median was 15.74.

TSM's Price-to-Net-Current-Asset-Value is ranked worse than
99.24% of 658 companies
in the Semiconductors industry
Industry Median: 5.65 vs TSM: 292.62

Taiwan Semiconductor Manufacturing Co Net Current Asset Value Historical Data

The historical data trend for Taiwan Semiconductor Manufacturing Co's Net Current Asset Value can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Taiwan Semiconductor Manufacturing Co Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Net Current Asset Value
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.31 3.27 1.09 1.14 0.22

Taiwan Semiconductor Manufacturing Co Quarterly Data
Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22
Net Current Asset Value Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.09 0.89 0.80 0.22 0.30

Competitive Comparison

For the Semiconductors subindustry, Taiwan Semiconductor Manufacturing Co's Net Current Asset Value, along with its competitors' market caps and Net Current Asset Value data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Taiwan Semiconductor Manufacturing Co Net Current Asset Value Distribution

For the Semiconductors industry and Technology sector, Taiwan Semiconductor Manufacturing Co's Net Current Asset Value distribution charts can be found below:

* The bar in red indicates where Taiwan Semiconductor Manufacturing Co's Net Current Asset Value falls into.



Taiwan Semiconductor Manufacturing Co Net Current Asset Value Calculation

Taiwan Semiconductor Manufacturing Co's Net Current Asset Value (NCAV) per share for the fiscal year that ended in Dec. 2021 is calculated as

Net Current Asset Value Per Share(A: Dec. 2021 )
=(Total Current Assets-Total Liabilities-Minority Interest-Preferred Stock)/Shares Outstanding (EOP)
=(57916.502391155-56710.899124625-87.310482519524-0)/5186.08
=0.22

Taiwan Semiconductor Manufacturing Co's Net Current Asset Value (NCAV) per share for the quarter that ended in Mar. 2022 is calculated as

Net Current Asset Value Per Share(Q: Mar. 2022 )
=(Total Current Assets-Total Liabilities-Minority Interest-Preferred Stock)/Shares Outstanding (EOP)
=(60575.409214492-58780.566242135-247.5672234474-0)/5186.08
=0.30

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Taiwan Semiconductor Manufacturing Co  (NYSE:TSM) Net Current Asset Value Explanation

Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."

The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]

Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.

One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham’s strategy produced similar results.

Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener. GuruFocus also publishes a monthly Net-Net newsletter.


Taiwan Semiconductor Manufacturing Co Net Current Asset Value Related Terms

Thank you for viewing the detailed overview of Taiwan Semiconductor Manufacturing Co's Net Current Asset Value provided by GuruFocus.com. Please click on the following links to see related term pages.


Taiwan Semiconductor Manufacturing Co Business Description

Taiwan Semiconductor Manufacturing Co logo
Address
No. 8, Li-Hsin Road 6, Hsinchu Science Park, Hsinchu, TWN, 300-096
Taiwan Semiconductor Manufacturing Company, or TSMC, is the world's largest dedicated chip foundry, with over 58% market share in 2020 per Gartner. TSMC was founded in 1987 as a joint venture of Philips, the government of Taiwan, and private investors. It went public as an ADR in the U.S. in 1997. TSMC's scale and high-quality technology allow the firm to generate solid operating margins, even in the highly competitive foundry business. Furthermore, the shift to the fabless business model has created tailwinds for TSMC. The foundry leader has an illustrious customer base, including Apple, AMD and Nvidia, that looks to apply cutting-edge process technologies to its semiconductor designs.

Taiwan Semiconductor Manufacturing Co Headlines

From GuruFocus

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)