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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: 2 240 TWD -1.1%
Market Cap: NT$58.1T

EV/S

13.5
Current
60%
More Expensive
vs 3-y average of 8.5

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

EV/S
13.5
=
Enterprise Value
NT$50.4T
/
Revenue
NT$4.1T

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

EV/S
13.5
=
Enterprise Value
NT$50.4T
/
Revenue
NT$4.1T

Valuation Scenarios

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

If EV/S returns to its 3-Year Average (8.5), the stock would be worth NT$1 400.26 (37% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-84%
Maximum Upside
No Upside Scenarios
Average Downside
59%
Scenario EV/S Value Implied Price Upside/Downside
Current Multiple 13.5 NT$2 240
0%
3-Year Average 8.5 NT$1 400.26
-37%
5-Year Average 8.7 NT$1 438.47
-36%
Industry Average 2.9 NT$483.98
-78%
Country Average 2.1 NT$353.68
-84%

Forward EV/S
Today’s price vs future revenue

Today's Enterprise Value Revenue Forward EV/S
NT$50.4T
/
Apr 2026
NT$4.1T
=
13.5
Current
NT$50.4T
/
Dec 2026
NT$5.1T
=
9.8
Forward
NT$50.4T
/
Dec 2027
NT$6.4T
=
7.9
Forward
NT$50.4T
/
Dec 2028
NT$7.9T
=
6.4
Forward
NT$50.4T
/
Dec 2029
NT$8.2T
=
6.1
Forward
NT$50.4T
/
Dec 2030
NT$10T
=
5
Forward

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

Peer Comparison

All Multiples
EV/S
P/E
All Countries
Close
Market Cap EV/S P/E
TW
Taiwan Semiconductor Manufacturing Co Ltd
TWSE:2330
56.7T TWD 13.5 30.8
US
NVIDIA Corp
NASDAQ:NVDA
5.3T USD 24.1 43.8
US
Broadcom Inc
NASDAQ:AVGO
2T USD 29.7 79.3
US
Advanced Micro Devices Inc
NASDAQ:AMD
545.4B USD 15.5 125.8
US
Micron Technology Inc
NASDAQ:MU
591.7B USD 10.1 24.5
KR
SK Hynix Inc
KRX:000660
701.7T KRW 9.3 21.2
US
Intel Corp
NASDAQ:INTC
424.4B USD 8.2 -1 589.7
US
Texas Instruments Inc
NASDAQ:TXN
244.4B USD 13.7 45.8
UK
Arm Holdings PLC
NASDAQ:ARM
229.3B USD 48.5 286.2
US
Analog Devices Inc
NASDAQ:ADI
191.7B USD 16.6 70.8
US
Qualcomm Inc
NASDAQ:QCOM
161.4B USD 3.7 30.1

Market Distribution

Higher than 94% of companies in Taiwan
Percentile
94rd
Based on 871 companies
94rd percentile
13.5
Low
0 — 1.3
Typical Range
1.3 — 3.6
High
3.6 —
Distribution Statistics
Taiwan
Min 0
30th Percentile 1.3
Median 2.1
70th Percentile 3.6
Max 385 201.6

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 16%
Intrinsic Value
Price NT$2 240
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