Taiwan Semiconductor Manufacturing Company Limited (TSM) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 1.13T | 1.06T | 989.92B | 933.79B | 839.25B | 868.46B | 759.69B | 673.51B | 592.64B | 625.53B | 546.73B | 480.84B | 508.63B | 625.53B | 613.14B | 534.14B | 491.08B | 438.26B | 414.67B | 372.15B |
| Revenue Growth % | 35.13% | 21.59% | 30.31% | 38.65% | 41.61% | 38.84% | 38.95% | 40.07% | 16.52% | -0% | -10.83% | -9.98% | 3.58% | 42.73% | 47.86% | 43.53% | 35.5% | 21.21% | 16.34% | 19.8% |
| Cost of Goods Sold | 382.81B | 397.83B | 401.38B | 386.42B | 345.86B | 356.08B | 320.35B | 315.39B | 278.14B | 293.76B | 250.09B | 220.64B | 222.13B | 236.35B | 242.64B | 218.67B | 217.87B | 207.51B | 201.92B | 185.95B |
| COGS % of Revenue | 33.75% | 37.67% | 40.55% | 41.38% | 41.21% | 41% | 42.17% | 46.83% | 46.93% | 46.96% | 45.74% | 45.89% | 43.67% | 37.78% | 39.57% | 40.94% | 44.37% | 47.35% | 48.7% | 49.97% |
| Gross Profit | 751.29B | 658.15B | 588.54B | 547.37B | 493.39B | 512.38B | 439.35B | 358.12B | 314.51B | 331.77B | 296.64B | 260.2B | 286.5B | 389.18B | 370.5B | 315.47B | 273.2B | 230.75B | 212.75B | 186.2B |
| Gross Margin % | 66.25% | 62.33% | 59.45% | 58.62% | 58.79% | 59% | 57.83% | 53.17% | 53.07% | 53.04% | 54.26% | 54.11% | 56.33% | 62.22% | 60.43% | 59.06% | 55.63% | 52.65% | 51.3% | 50.03% |
| Gross Profit Growth % | 52.27% | 28.45% | 33.96% | 52.84% | 56.88% | 54.44% | 48.11% | 37.63% | 9.77% | -14.75% | -19.93% | -17.52% | 4.87% | 68.66% | 74.15% | 69.43% | 43.91% | 18.19% | 11.68% | 13.1% |
| Operating Expenses | 94.01B | 89.02B | 87.86B | 83.95B | 86.31B | 86.67B | 78.58B | 71.57B | 65.49B | 71.56B | 68.58B | 58.24B | 55.26B | 64.14B | 60.17B | 53.34B | 49.41B | 47.98B | 41.74B | 40.53B |
| OpEx % of Revenue | 8.29% | 8.43% | 8.88% | 8.99% | 10.28% | 9.98% | 10.34% | 10.63% | 11.05% | 11.44% | 12.54% | 12.11% | 10.86% | 10.25% | 9.81% | 9.99% | 10.06% | 10.95% | 10.07% | 10.89% |
| Selling, General & Admin | 26.25B | 23.55B | 24.02B | 23.23B | 28.64B | 29.11B | 26.3B | 22.24B | 19.25B | 21.21B | 17.57B | 16.53B | 16.15B | 19.95B | 17.21B | 13.73B | 12.56B | 15.64B | 10.78B | 9.71B |
| SG&A % of Revenue | 2.31% | 2.23% | 2.43% | 2.49% | 3.41% | 3.35% | 3.46% | 3.3% | 3.25% | 3.39% | 3.21% | 3.44% | 3.18% | 3.19% | 2.81% | 2.57% | 2.56% | 3.57% | 2.6% | 2.61% |
| Research & Development | 67.76B | 65.47B | 63.74B | 61.28B | 56.55B | 57.23B | 52.78B | 48.06B | 46.11B | 50.41B | 51.14B | 41.67B | 39.16B | 44.59B | 42.98B | 39.65B | 36.05B | 32.24B | 30.87B | 30.87B |
| R&D % of Revenue | 5.97% | 6.2% | 6.44% | 6.56% | 6.74% | 6.59% | 6.95% | 7.14% | 7.78% | 8.06% | 9.35% | 8.67% | 7.7% | 7.13% | 7.01% | 7.42% | 7.34% | 7.36% | 7.44% | 8.3% |
| Other Operating Expenses | 0 | 0 | 1000K | -1000K | 1000K | 1000K | -1000K | 1000K | 1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K | 1000K | 1000K | 1000K | -1000K |
| Operating Income | 657.29B | 569.13B | 500.69B | 463.42B | 407.08B | 425.71B | 360.77B | 286.56B | 249.02B | 260.2B | 228.06B | 201.96B | 231.24B | 325.04B | 310.32B | 262.12B | 223.79B | 182.77B | 171B | 145.67B |
| Operating Margin % | 57.96% | 53.9% | 50.58% | 49.63% | 48.51% | 49.02% | 47.49% | 42.55% | 42.02% | 41.6% | 41.71% | 42% | 45.46% | 51.96% | 50.61% | 49.07% | 45.57% | 41.7% | 41.24% | 39.14% |
| Operating Income Growth % | 61.46% | 33.69% | 38.78% | 61.72% | 63.47% | 63.61% | 58.19% | 41.89% | 7.69% | -19.95% | -26.51% | -22.95% | 3.33% | 77.84% | 81.47% | 79.95% | 48.66% | 16.33% | 13.97% | 11.12% |
| EBITDA | 822.74B | 732.77B | 663.47B | 826.62B | 570.49B | 596.09B | 528.99B | 451.72B | 408.04B | 410.85B | 375.35B | 325.9B | 341.56B | 432.62B | 415.67B | 375.35B | 334.89B | 293.43B | 278.03B | 249.47B |
| EBITDA Margin % | 72.55% | 69.39% | 67.02% | 88.52% | 67.98% | 68.64% | 69.63% | 67.07% | 68.85% | 65.68% | 68.65% | 67.78% | 67.15% | 69.16% | 67.79% | 70.27% | 68.2% | 66.95% | 67.05% | 67.04% |
| EBITDA Growth % | 44.22% | 22.93% | 25.42% | 82.99% | 39.81% | 45.09% | 40.94% | 38.61% | 19.46% | -5.03% | -9.7% | -13.17% | 1.99% | 47.43% | 49.51% | 50.46% | 33.19% | 15.22% | 13.58% | 23.52% |
| D&A (Non-Cash Add-back) | 165.45B | 163.64B | 162.79B | 363.2B | 163.41B | 170.38B | 168.23B | 165.17B | 159.02B | 150.65B | 147.28B | 123.94B | 110.32B | 107.58B | 105.35B | 113.22B | 111.1B | 110.66B | 107.03B | 103.81B |
| EBIT | 687.8B | 596.46B | 525.37B | 493.04B | 428.22B | 451.32B | 386.82B | 308.95B | 269.24B | 281.2B | 245.05B | 217.68B | 247.24B | 337.89B | 320.06B | 268.9B | 228.97B | 186.9B | 175.19B | 150.53B |
| Net Interest Income | 26.15B | 26.71B | 23.22B | 21.5B | 22.18B | 21.75B | 19.97B | 18.34B | 16.66B | 14.49B | 12.48B | 10.67B | 10.65B | 7.25B | 3.25B | 641.71M | -466.89M | -710.97M | 22.48M | 294.28M |
| Interest Income | 28.86B | 26.71B | 23.22B | 25.19B | 24.86B | 24.27B | 22.6B | 20.98B | 19.36B | 17.41B | 15.6B | 13.67B | 13.62B | 10.59B | 6.62B | 3.55B | 1.67B | 1.46B | 1.36B | 1.43B |
| Interest Expense | 2.72B | 0 | 98.84M | 3.69B | 2.68B | 2.52B | 2.64B | 2.64B | 2.7B | 2.92B | 3.11B | 3.01B | 2.96B | 3.33B | 3.37B | 2.9B | 2.14B | 2.17B | 1.33B | 1.13B |
| Other Income/Expense | 30.51B | 28.84B | 24.68B | 29.61B | 23.81B | 23.09B | 23.42B | 19.76B | 17.52B | 18.08B | 13.88B | 12.72B | 13.04B | 9.51B | 6.37B | 3.87B | 3.04B | 1.96B | 2.85B | 3.72B |
| Pretax Income | 687.8B | 597.96B | 525.37B | 493.04B | 430.89B | 448.8B | 384.19B | 306.31B | 266.54B | 278.28B | 241.94B | 214.67B | 244.27B | 334.55B | 316.69B | 266B | 226.83B | 184.73B | 173.85B | 149.39B |
| Pretax Margin % | 60.65% | 56.63% | 53.07% | 52.8% | 51.34% | 51.68% | 50.57% | 45.48% | 44.98% | 44.49% | 44.25% | 44.65% | 48.03% | 53.48% | 51.65% | 49.8% | 46.19% | 42.15% | 41.93% | 40.14% |
| Income Tax | 115B | 87.77B | 73.61B | 95.54B | 70.16B | 89.24B | 59.11B | 58.65B | 41.32B | 39.97B | 31.15B | 32.96B | 37.33B | 62.28B | 35.72B | 28.82B | 23.96B | 22.55B | 17.37B | 14.91B |
| Effective Tax Rate % | 16.72% | 14.68% | 14.01% | 19.38% | 16.28% | 19.88% | 15.38% | 19.15% | 15.5% | 14.36% | 12.87% | 15.35% | 15.28% | 18.62% | 11.28% | 10.83% | 10.56% | 12.21% | 9.99% | 9.98% |
| Net Income | 572.48B | 510.52B | 452.3B | 398.27B | 361.56B | 359.79B | 325.26B | 247.85B | 225.48B | 238.71B | 211B | 181.8B | 206.99B | 272.3B | 280.87B | 237.03B | 202.73B | 162.05B | 156.26B | 134.36B |
| Net Margin % | 50.48% | 48.35% | 45.69% | 42.65% | 43.08% | 41.43% | 42.81% | 36.8% | 38.05% | 38.16% | 38.59% | 37.81% | 40.69% | 43.53% | 45.81% | 44.38% | 41.28% | 36.98% | 37.68% | 36.1% |
| Net Income Growth % | 58.33% | 41.89% | 39.06% | 60.69% | 60.35% | 50.72% | 54.15% | 36.33% | 8.94% | -12.33% | -24.88% | -23.3% | 2.1% | 68.03% | 79.74% | 76.41% | 45.13% | 19.48% | 13.8% | 11.2% |
| Net Income (Continuing) | 572.8B | 510.19B | 451.75B | 397.49B | 360.73B | 359.56B | 325.08B | 247.66B | 225.22B | 238.31B | 210.8B | 181.72B | 206.95B | 272.27B | 280.97B | 237.18B | 202.87B | 162.18B | 156.48B | 134.48B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 41.42B | 41.18B | 37.27B | 35.56B | 37.46B | 35.01B | 31.9B | 28.75B | 29.98B | 24.34B | 24.47B | 16.72B | 14.66B | 14.81B | 14.34B | 14.11B | 7.04B | 2.42B | 2.3B | 2.16B |
| EPS (Diluted) | 111.55 | 98.40 | 88.75 | 72.60 | 70.35 | 73.10 | 61.25 | 48.10 | 44.20 | 44.30 | 41.20 | 35.45 | 39.90 | 54.95 | 56.40 | 46.00 | 40.05 | 31.80 | 30.05 | 25.95 |
| EPS Growth % | 58.56% | 34.61% | 44.9% | 50.94% | 59.16% | 65.01% | 48.67% | 35.68% | 10.78% | -19.38% | -26.95% | -22.93% | -0.37% | 72.8% | 87.69% | 77.26% | 46.7% | 16.7% | 15.58% | 13.07% |
| EPS (Basic) | 111.55 | 98.40 | 89.05 | 72.60 | 70.35 | 73.10 | 61.25 | 48.10 | 44.20 | 44.30 | 41.20 | 35.45 | 39.90 | 54.95 | 56.40 | 46.00 | 40.05 | 31.80 | 30.05 | 25.95 |
| Diluted Shares Outstanding | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B |
| Basic Shares Outstanding | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B | 5.19B |
| Dividend Payout Ratio | 22.88% | 25.15% | 25.8% | 29.3% | 28.69% | 28.83% | 27.9% | 36.62% | 34.5% | 32.59% | 33.8% | 39.22% | 34.45% | 26.19% | 25.39% | 30.08% | 35.17% | 44% | 41.49% | 48.25% |