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Taiwan Semiconductor Manufacturing Co Ltd
TWSE:2330

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Taiwan Semiconductor Manufacturing Co Ltd
TWSE:2330
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Price: 2 070 TWD 1.97% Market Closed
Market Cap: NT$53.7T

EV/EBIT

23.4
Current
26%
More Expensive
vs 3-y average of 18.6

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
23.4
=
Enterprise Value
NT$50.4T
/
EBIT
NT$2.2T

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
23.4
=
Enterprise Value
NT$50.4T
/
EBIT
NT$2.2T

Valuation Scenarios

Taiwan Semiconductor Manufacturing Co Ltd is trading above its 3-year average

If EV/EBIT returns to its 3-Year Average (18.6), the stock would be worth NT$1 642.9 (21% downside from current price).

Statistics
Positive Scenarios
1/4
Maximum Downside
-21%
Maximum Upside
+29%
Average Downside
5%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 23.4 NT$2 070
0%
3-Year Average 18.6 NT$1 642.9
-21%
5-Year Average 19.3 NT$1 710.13
-17%
Industry Average 30.1 NT$2 668.63
+29%
Country Average 20.9 NT$1 847.31
-11%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
NT$50.4T
/
Apr 2026
NT$2.2T
=
23.4
Current
NT$50.4T
/
Dec 2026
NT$2.8T
=
18.3
Forward
NT$50.4T
/
Dec 2027
NT$3.4T
=
14.8
Forward
NT$50.4T
/
Dec 2028
NT$4.1T
=
12.4
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
TW
Taiwan Semiconductor Manufacturing Co Ltd
TWSE:2330
52.6T TWD 23.4 28.4
US
NVIDIA Corp
NASDAQ:NVDA
4.9T USD 36.7 40.5
US
Broadcom Inc
NASDAQ:AVGO
1.9T USD 68.8 76.3
US
Micron Technology Inc
NASDAQ:MU
506.9B USD 17.9 21
KR
SK Hynix Inc
KRX:000660
701.7T KRW 14.5 16.1
US
Advanced Micro Devices Inc
NASDAQ:AMD
463.7B USD 123.3 107
US
Intel Corp
NASDAQ:INTC
330.9B USD -14 752 -1 239.3
US
Texas Instruments Inc
NASDAQ:TXN
211.5B USD 35.9 42.5
US
Analog Devices Inc
NASDAQ:ADI
183.2B USD 53.5 67.7
UK
Arm Holdings PLC
NASDAQ:ARM
186.4B USD 208.8 232.7
US
Qualcomm Inc
NASDAQ:QCOM
145.6B USD 12.2 27.1
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
TW
Taiwan Semiconductor Manufacturing Co Ltd
TWSE:2330
Average EV/EBIT: 59.5
23.4
28%
0.8
US
NVIDIA Corp
NASDAQ:NVDA
36.7
43%
0.9
US
Broadcom Inc
NASDAQ:AVGO
68.8
70%
1
US
Micron Technology Inc
NASDAQ:MU
17.9
87%
0.2
KR
SK Hynix Inc
KRX:000660
14.5
52%
0.3
US
Advanced Micro Devices Inc
NASDAQ:AMD
123.3
94%
1.3
US
Intel Corp
NASDAQ:INTC
Negative Multiple: -14 752 N/A N/A
US
Texas Instruments Inc
NASDAQ:TXN
35.9
18%
2
US
Analog Devices Inc
NASDAQ:ADI
53.5
38%
1.4
UK
Arm Holdings PLC
NASDAQ:ARM
208.8
58%
3.6
US
Qualcomm Inc
NASDAQ:QCOM
12.2
4%
3

Market Distribution

In line with most companies in Taiwan
Percentile
60th
Based on 671 companies
60th percentile
23.4
Low
0.2 — 14.9
Typical Range
14.9 — 30.2
High
30.2 —
Distribution Statistics
Taiwan
Min 0.2
30th Percentile 14.9
Median 20.9
70th Percentile 30.2
Max 1 677.9

Taiwan Semiconductor Manufacturing Co Ltd
Glance View

In the heart of Asia's dynamic tech landscape stands Taiwan Semiconductor Manufacturing Co. Ltd., more commonly known as TSMC, a titan that has redefined how the world approaches semiconductor production. Born from Taiwan's burgeoning tech aspirations in 1987, TSMC emerged as a revolutionary force by embracing a business model unlike any before it: the pure-play foundry model. Rather than engaging in the traditional integrated device manufacturing, TSMC focused solely on fabricating semiconductors for its clientele, which included a diverse array of electronic device giants, from smartphone makers to automotive and industrial tech leaders. By harnessing cutting-edge technology and maintaining relentless dedication to R&D, TSMC became indispensable to its customers, transforming into the world's largest dedicated independent semiconductor foundry. What sets TSMC apart is its distinctive ability to produce high-performance chips at a scale and precision that few can rival. The company earns its revenue primarily by offering fabrication capabilities and comprehensive services—a meticulously orchestrated process where the amalgamation of customer's design blueprints and TSMC’s advanced manufacturing prowess brings microchips to life. With clients ranging from industry stalwarts like Apple, NVIDIA, and AMD to a host of nascent tech startups, TSMC thrives on its capacity to deliver everything from the most advanced 3nm chips to more mature node technologies. This versatility not only ensures a steady stream of revenue but also fortifies TSMC's niche as the linchpin of the semiconductor supply chain, steering the very heart of modern electronics.

Intrinsic Value
1 886.79 TWD
Overvaluation 9%
Intrinsic Value
Price NT$2 070
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