Taiwan Semiconductor Manufacturing Co. (TSM)

From the record

Taiwan Semiconductor Manufacturing Company Ltd.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

The desk's reading

The flag here is a category, not an act: a reporting structure the desk checks rather than assumes.

From the record

Taiwan Semiconductor Manufacturing Company Ltd.'s 10 filed years say what it did: revenue went from TWD 843 billion in fiscal 2015 to TWD 2894 billion in fiscal 2024, up 14.7% a year; it rose in 8 of 9 years; the deepest fall was 5% from fiscal 2022 to fiscal 2023; net income was positive in 10 of 10 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2024-12-31, Taiwan Semiconductor Manufacturing Company Ltd.'s diluted share count held steady, and dividends and buybacks returned about 20% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 2 sales and 261 purchases of their own stock on the open market in the year to 2026-11-10, buying about $4 million (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2024-12-31, Taiwan Semiconductor Manufacturing Company Ltd. earned about 27 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 24 cents per dollar of everything the company owns. Leverage: it owed about 36 cents per dollar of assets, and net share issuance: its share count was unchanged over the year (the filed statements).

From the record

Taiwan Semiconductor Manufacturing Company Ltd.'s standing among 97 graded names in its industry family: revenue of TWD 2894 billion in fiscal 2024 is not ranked by size, since the family reports in another currency; a net margin of 40% ranks in the top 6%; revenue growth of 22.2% a year over the last 3 filed years ranks in the top 22% (its annual reports).

From the record

Taiwan Semiconductor Manufacturing Company Ltd.'s room to grow, from the newest filed statements (fiscal 2024): cash of TWD 2128 billion against no long-term debt tagged leaves 31.8% of its assets as net cash, top 17% of its family; cash from operations less capital spending is 30.1% of revenue (top 10%); a gross margin of 56.1% (top 24%); research spending of 7.1% of revenue (bottom 23%) (its annual report).

From the record

Taiwan Semiconductor Manufacturing Company Ltd.'s growth drivers, from the filed years to fiscal 2024: revenue grew 22.2% a year over the last three filed years against 14.7% over all 10, speeding up (top 12% of its family); the newest year grew 33.8% (top 24%); research spending grew 17.8% a year (top 17%); capital spending grew 4.4% a year (bottom 44%) (its annual reports). Taiwan Semiconductor Manufacturing Company Ltd. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

From the record

Taiwan Semiconductor Manufacturing Company Ltd.'s newest year against its own record: revenue of TWD 2894 billion in fiscal 2024 came in 14.7% above the TWD 2523 billion its prior three years' pace pointed to (bottom 47% of its family); net income of TWD 1158 billion against a prior three-year average of TWD 812 billion (top 30%); a net margin of 40% against 40.2% before (top 46%) (its annual reports).