Last Price$173.0(4.2%)
Market Cap$917.5B
LTM NOPAT
NT$1,160.4B
NOPAT margin
40.1%
5Y avg: 43.0%
EPV as % of EV
32.7%
Market-Implied Value of Growth,
MIVoG as % of EV
67.3%
Discount rate
10.8%
Stock quality
8/10
Great
TSM Earnings Power Value Model
| (TWD M) | Mar'20 | Jun'20 | Sep'20 | Dec'20 | Mar'21 | Jun'21 | Sep'21 | Dec'21 | Mar'22 | Jun'22 | Sep'22 | Dec'22 | Mar'23 | Jun'23 | Sep'23 | Dec'23 | Mar'24 | Jun'24 | Sep'24 | Dec'24 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTM Revenue % growth | 1,161,907.5 16.0% | 1,231,481.6 21.9% | 1,294,894.9 24.2% | 1,339,238.4 25.2% | 1,391,123.4 19.7% | 1,452,639.1 18.0% | 1,510,768.0 16.7% | 1,587,452.4 18.5% | 1,716,053.8 23.4% | 1,878,049.5 29.3% | 2,076,624.3 37.5% | 2,263,889.4 42.6% | 2,281,446.5 32.9% | 2,228,146.7 18.6% | 2,161,737.0 4.1% | 2,161,736.0 (4.5%) | 2,245,747.0 (1.6%) | 2,438,416.2 9.4% | 2,651,375.2 22.7% | 2,894,307.2 33.9% |
LTM NOPAT % growth | 386,125.9 N/A | 439,136.1 13.7% | 474,916.2 8.1% | 502,214.5 5.7% | 524,018.6 4.3% | 538,957.6 2.9% | 559,993.3 3.9% | 585,236.8 4.5% | 649,731.7 11.0% | 752,323.5 15.8% | 873,714.0 16.1% | 1,524,818.7 74.5% | 1,506,227.7 (1.2%) | 1,445,250.9 (4.0%) | 1,381,526.3 (4.4%) | 788,361.1 (42.9%) | 802,831.8 1.8% | 864,417.9 7.7% | 1,027,655.5 18.9% | 1,160,415.8 12.9% |
Discount rate | 7.1% | 7.0% | 7.0% | 7.3% | N/A | 7.8% | 7.8% | 7.8% | 8.5% | 9.1% | 9.6% | 9.7% | 8.7% | 9.9% | 10.5% | 9.9% | 10.3% | 10.6% | 10.0% | 10.8% |
| Earnings Power Value (EPV) | 5,462,903.0 | 6,261,934.2 | 6,744,581.7 | 6,884,613.1 | N/A | 6,870,871.3 | 7,156,750.8 | 7,500,277.5 | 7,640,790.7 | 8,268,728.6 | 9,123,610.4 | 15,667,906.8 | 17,358,059.8 | 14,633,907.2 | 13,159,785.5 | 7,999,625.1 | 7,772,339.9 | 8,191,780.4 | 10,313,872.9 | 10,744,170.1 |
Enterprise Value (EV) | 7,114,513.5 | 8,268,077.6 | 11,781,274.1 | 15,555,121.4 | N/A | 16,999,761.1 | 15,798,668.1 | 16,904,569.7 | 15,327,762.6 | 12,341,357.7 | 10,798,512.5 | 11,223,607.5 | 13,173,277.9 | 15,501,303.2 | 13,968,150.1 | 15,973,205.1 | 21,723,810.5 | 28,328,373.3 | 28,169,748.8 | 32,837,685.1 |
| Market-Implied Value of Growth (MIVoG) | 1,651,610.5 | 2,006,143.4 | 5,036,692.4 | 8,670,508.4 | N/A | 10,128,889.8 | 8,641,917.3 | 9,404,292.2 | 7,686,971.9 | 4,072,629.1 | 1,674,902.2 | (4,444,299.2) | (4,184,781.9) | 867,396.0 | 808,364.7 | 7,973,580.1 | 13,951,470.7 | 20,136,592.9 | 17,855,875.9 | 22,093,515.0 |
| EPV as % of EV | 76.8% | 75.7% | 57.2% | 44.3% | N/A | 40.4% | 45.3% | 44.4% | 49.8% | 67.0% | 84.5% | 139.6% | 131.8% | 94.4% | 94.2% | 50.1% | 35.8% | 28.9% | 36.6% | 32.7% |
| MIVoG as % of EV | 23.2% | 24.3% | 42.8% | 55.7% | N/A | 59.6% | 54.7% | 55.6% | 50.2% | 33.0% | 15.5% | (39.6%) | (31.8%) | 5.6% | 5.8% | 49.9% | 64.2% | 71.1% | 63.4% | 67.3% |
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TSM NOPAT
Annual
Quarterly
LTM
TSM Earnings Power Value and Enterprise Value
Annual
LTM
Enterprise Value Breakdown
EPV and MIVoG as % of EV
TSM vs Peer Set: Earnings Power Value comparison
General
Earnings power value
Financial metrics
Company name
EPV as % of EV
MIVoG as % of EV
Revenue growth
EPS growth
Net income margin
Taiwan Semiconductor Manufacturing Company LimitedTSM
32.7%
67.3%
29.9%
33.6%
40.5%
Median Peer Set
29.6%
70.4%
11.2%
(3.3%)
21.7%
QUALCOMM IncorporatedQCOM
59.0%
41.0%
8.8%
40.5%
26.0%
Micron Technology, Inc.MU
42.9%
57.1%
61.6%
N/A
3.1%
Applied Materials, Inc.AMAT
38.5%
61.5%
2.5%
6.4%
26.4%
Texas Instruments IncorporatedTXN
31.5%
68.5%
(10.7%)
(26.2%)
30.7%
ASML Holding N.V.ASML
29.6%
70.4%
2.6%
(3.3%)
26.8%
Analog Devices, Inc.ADI
18.1%
81.9%
(23.4%)
(50.0%)
17.3%
NVIDIA CorporationNVDA
17.7%
82.3%
114.2%
145.5%
55.8%
Broadcom Inc.AVGO
11.9%
88.1%
44.0%
(60.8%)
11.4%
Advanced Micro Devices, Inc.AMD
6.7%
93.3%
13.7%
90.6%
6.4%
Arm Holdings plc American Depositary SharesARM
N/A
N/A
20.7%
(41.2%)
9.5%
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FAQ
What is Taiwan Semiconductor Manufacturing Company Limited Earnings Power Value?
As of Dec 31, 2024, Taiwan Semiconductor Manufacturing Company Limited's Earnings Power Value is approximately NT$10.7T.
What is Taiwan Semiconductor Manufacturing Company Limited EV (Enterprise Value)?
As of Dec 31, 2024, Taiwan Semiconductor Manufacturing Company Limited's Enterprise Value (EV) estimates at NT$32.8T.
What is Taiwan Semiconductor Manufacturing Company Limited NOPAT?
As of Dec 31, 2024, Taiwan Semiconductor Manufacturing Company Limited's Net operating profit after tax (NOPAT) is approximately NT$1,160.4B.