2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Revenue | NT$1.3T | NT$1.6T | NT$2.3T | NT$2.2T | NT$2.9T |
Cost of Revenue | NT$628B | NT$768B | NT$916B | NT$987B | NT$1.3T |
Gross Profit | NT$711B | NT$820B | NT$1.3T | NT$1.2T | NT$1.6T |
Gross Profit % | 53% | 52% | 60% | 54% | 56% |
R&D Expenses | NT$109B | NT$125B | NT$163B | NT$182B | NT$204B |
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Net Income | NT$585B | NT$663B | NT$1.1T | NT$838B | NT$1.2T |
Dep. & Amort. | NT$332B | NT$422B | NT$437B | NT$532B | NT$663B |
Def. Tax | -NT$59B | -NT$105B | NT$0 | NT$0 | NT$0 |
Stock Comp. | NT$6.6M | NT$7.8M | NT$302M | NT$544M | NT$0 |
Chg. in WC | -NT$28B | NT$132B | NT$123B | -NT$57B | -NT$54B |
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Cash | NT$660B | NT$1.1T | NT$1.3T | NT$1.5T | NT$2.1T |
ST Investments | NT$142B | NT$140B | NT$244B | NT$222B | NT$294B |
Cash & ST Inv. | NT$802B | NT$1.2T | NT$1.6T | NT$1.7T | NT$2.4T |
Receivables | NT$146B | NT$198B | NT$231B | NT$202B | NT$272B |
Inventory | NT$137B | NT$193B | NT$221B | NT$251B | NT$288B |
TSMC reported a 14.3% sequential revenue increase in Q4 2024, driven by strong demand for 3nm and 5nm technologies, with gross margin rising to 59% and operating margin to 49%.
For Q1 2025, TSMC expects revenue between $25 billion and $25.8 billion, representing a 5.5% sequential decline but a 34.7% year-over-year increase, with gross margin guidance of 57%-59% and operating margin of 46.5%-48.5%.
TSMC forecasts full-year 2025 revenue growth in the mid-20s percentage range in USD terms, supported by robust AI-related demand and a mild recovery in other markets, with AI accelerator revenue expected to double in 2025.
The company plans a capital expenditure of $38-$42 billion in 2025, with 70% allocated to advanced process technologies, and expects depreciation expenses to increase by high single digits year-over-year.
TSMC maintains a long-term gross margin target of 53% or higher despite overseas fab cost pressures, with advanced packaging expected to account for over 10% of revenue in 2025.