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Taiwan Semiconductor Manufacturing Co (MEX:TSM N) Cyclically Adjusted Price-to-FCF : (As of Jul. 19, 2025)


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What is Taiwan Semiconductor Manufacturing Co Cyclically Adjusted Price-to-FCF?

Shiller PE for Stocks: The True Measure of Stock Valuation


Taiwan Semiconductor Manufacturing Co Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Taiwan Semiconductor Manufacturing Co's Cyclically Adjusted Price-to-FCF 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.

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Taiwan Semiconductor Manufacturing Co Cyclically Adjusted Price-to-FCF Chart

Taiwan Semiconductor Manufacturing Co Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 76.51 74.33 42.12 50.16 72.47

Taiwan Semiconductor Manufacturing Co Quarterly Data
Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25
Cyclically Adjusted Price-to-FCF Get a 7-Day Free Trial 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 69.96 66.68 72.47 58.32 -

Competitive Comparison of Taiwan Semiconductor Manufacturing Co's Cyclically Adjusted Price-to-FCF

For the Semiconductors subindustry, Taiwan Semiconductor Manufacturing Co's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF 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's Cyclically Adjusted Price-to-FCF Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Taiwan Semiconductor Manufacturing Co's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Taiwan Semiconductor Manufacturing Co's Cyclically Adjusted Price-to-FCF falls into.


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Taiwan Semiconductor Manufacturing Co Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF.

Taiwan Semiconductor Manufacturing Co's Cyclically Adjusted FCF per Share for the quarter that ended in Jun. 2025 is calculated as:

For example, Taiwan Semiconductor Manufacturing Co's adjusted Free Cash Flow per Share data for the three months ended in Jun. 2025 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Jun. 2025 (Change)*Current CPI (Jun. 2025)
=0/135.3468*135.3468
=0.000

Current CPI (Jun. 2025) = 135.3468.

Taiwan Semiconductor Manufacturing Co Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201509 4.664 100.392 6.288
201512 5.917 99.792 8.025
201603 8.391 100.470 11.304
201606 3.478 101.688 4.629
201609 2.540 101.861 3.375
201612 8.873 101.863 11.790
201703 6.822 102.862 8.976
201706 -0.327 103.349 -0.428
201709 6.198 104.136 8.056
201712 17.867 104.011 23.250
201803 10.636 105.290 13.672
201806 8.680 106.317 11.050
201809 2.651 106.507 3.369
201812 9.258 105.998 11.821
201903 9.046 107.251 11.416
201906 0.098 108.070 0.123
201909 5.345 108.329 6.678
201912 3.960 108.420 4.943
202003 1.444 108.902 1.795
202006 5.403 108.767 6.723
202009 12.904 109.815 15.904
202012 23.368 109.897 28.780
202103 -3.067 111.754 -3.714
202106 2.339 114.631 2.762
202109 18.381 115.734 21.496
202112 19.855 117.630 22.846
202203 14.781 121.301 16.493
202206 15.451 125.017 16.728
202209 17.989 125.227 19.443
202212 18.220 125.222 19.693
202303 9.384 127.348 9.973
202306 -9.137 128.729 -9.607
202309 7.006 129.860 7.302
202312 23.307 129.419 24.374
202403 25.543 131.776 26.235
202406 18.434 132.554 18.822
202409 21.874 133.029 22.255
202412 31.506 133.157 32.024
202503 34.984 134.927 35.093
202506 0.000 135.347 0.000

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Taiwan Semiconductor Manufacturing Co  (MEX:TSM N) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


Taiwan Semiconductor Manufacturing Co Cyclically Adjusted Price-to-FCF Related Terms

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Taiwan Semiconductor Manufacturing Co Business Description

Address
No. 8, Li-Hsin Road 6, Hsinchu Science Park, Hsinchu, TWN, 300-096
Taiwan Semiconductor Manufacturing Co. is the world's largest dedicated chip foundry, with mid-60s market share in 2024. TSMC was founded in 1987 as a joint venture of Philips, the government of Taiwan, and private investors. It went public in Taiwan in 1994 and as an ADR in the US 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. TSMC employs more than 73,000 people.

Taiwan Semiconductor Manufacturing Co Headlines

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