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Taiwan Semiconductor Manufacturing Company Limited
Rule-based classification of fundamentals against the sector. Not a price forecast and not investment advice.
Strong business, valuation above the sector
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3 of 5 met · composite in line with peers
Business quality, valuation against the sector, and position in the 52-week range — whether they line up or not.
Strong fundamentals
Profitability
4/4
Debt & liquidity
2/3
Efficiency
2/2
Revenue grew 30.2% year over year — +156% above the sector median of 11.8% — and FCF expanded at 189.7%, running +573% ahead of the sector median, which signals that growth is translating into cash rather than just reported earnings. Debt/EBITDA sits at 0.0×, -98% below the sector median of 0.9×, so the balance sheet carries little structural strain, and the F-Score of 8/9 confirms broad fundamental health. The price paid for that quality is not modest: the P/E of 59.8× runs +43% above the sector median of 42.0×, and FCF yield of 1.3% trails the median of 1.9% by -33%. Consensus has a strong track record here — the company beat estimates in the most recent quarter by 11.4% — yet the forward P/E still prices in a growth path that the market, not the filing record, is supplying; the realized three-year EPS CAGR is not available to test that assumption directly.
| Ticker | Name | F-Score | ROE | Revenue YoY | Op. margin |
|---|---|---|---|---|---|
| AAPL | Apple | 8/9 | 171% | +6% |
The market prices in earnings growth; analyst sentiment is steady; has mostly beaten consensus.
Price against next year's expected earnings. The forward P/E already carries analyst optimism — read it alongside the “Versus consensus” line.
A forward P/E below the current one means the market expects earnings to grow; above it, to fall. The historical growth is realized figures from SEC filings, not a forecast.
The three-month change in the share of positive analyst ratings. This is sentiment, not an earnings-estimate revision, and not a call to act.
On October 14, 2026, check whether TSM's revenue growth holds above the sector median pace of roughly 4.5% — it ran at 11.8% last period, 2.6× the median. Also track whether FCF growth sustains its outsized rate, since that is the clearest offset to the compressed FCF yield of 1.87%.
TSM's Debt/EBITDA of 0.92× is well below the sector median, but the 20-F risk factors detail customer concentration, export-control exposure, and capital expenditure commitments that the headline F-Score of 8/9 does not capture. Focus on management's discussion of capacity expansion costs and how they affect free cash flow conversion.
Pick two or three companies from the alphabetical same-sector table in section 06 and line up one metric — P/E or FCF yield works well here, given TSM's P/E of 42×, which sits 43% above the sector median. No entry in that table is ranked; the comparison is yours to draw based on your own risk and valuation criteria.
Steps you can check yourself, based on the figures in this brief.
Piotroski F-Score: nine binary tests of financial strength from the annual report. A ✓ marks a test passed, a dot (·) a test failed.
The context on the right shows how each figure compares with the sector median. The trend below tracks the change over recent fiscal years.
Beat consensus in 8 of 8 recent quarters — the company clears estimates regularly (consensus is often set conservatively).
Last quarter's EPS against consensus, plus the estimated date of the next report.
| 32% |
| ACN | Accenture | 4/9 | 26% | +7% | 15% |
| ADBE | Adobe | 7/9 | 55% | +11% | 37% |
| AMAT | Applied Materials | 6/9 | 36% | +4% | 29% |
| AMD | Advanced Micro Devices | 7/9 | 7% | +34% | 11% |
| AVGO | Broadcom | 7/9 | 43% | +24% | 40% |
| CRM | Salesforce | 7/9 | 12% | +10% | 20% |
| CSCO | Cisco | 8/9 | 22% | +5% | 21% |
| IBM | IBM | 6/9 | 35% | +8% | — |
| INTC | Intel | 6/9 | -0% | -0% | -4% |
| INTU | Intuit | 8/9 | 20% | +16% | 26% |
| MSFT | Microsoft | 6/9 | 34% | +18% | 47% |
| NOW | ServiceNow | 4/9 | 15% | +21% | 14% |
| NVDA | NVIDIA | 3/9 | 101% | +65% | 60% |
| ORCL | Oracle | 5/9 | 54% | +17% | 31% |
| TSM | Taiwan Semiconductor Manufacturing Company Limited | 8/9 | 30% | +30% | 46% |
| TXN | Texas Instruments | 7/9 | 30% | +13% | 34% |
A sample of 17 companies in the sector including the target, alphabetical, unranked. Data from the latest SEC annual reports.
Rule-based classification of fundamentals against the sector. Not a price forecast and not investment advice.
The last few quarters are recent context, not a fixed rate. Consensus for near quarters is set low, so companies clear it routinely; over long horizons the forecasts run the other way, too high.
A description of what the market and analysts expect. Not a price forecast and not investment advice. Analyst forecasts run systematically optimistic over long horizons — read them with that discount.