TSMC's annual statements as filed with the SEC, read backwards: from the reported figures to what the business did, to whether it will persist. Every number links to the filing it came from.
10 fiscal years2015–2024 on fileTSM tickerTWD reporting currency
FY2024 · period ending 2024-12-31
NT$2.89T
Revenue
56.1%
Gross margin
45.7%
Operating margin
30.2%
Return on equity
Changes in the reported figures
Revenue increased 33.9% between FY2023 and FY2024. Operating margin changed by 3.1 percentage points, from 42.6% to 45.7%.
Operating cash flow less reported capital expenditures was NT$870.2B in FY2024. This calculation excludes acquisitions and financing flows.
Reported financial changes between FY2023 · 2023-12-31 and FY2024 · 2024-12-31
Calculated from the filing snapshot; changes in accounting, acquisitions, or reporting scope can affect comparisons. Currency: TWD.
The lens
A company-specific financial interpretation is still pending. The comparison above establishes the reported changes; the revenue mix, cost classification, and capital requirements need to be reconciled before attributing those changes to strategy.
Where it sits among the set
Different business models and fiscal years; these positions are not a like-for-like performance ranking.
Each dot is one SEC-filing company in the Acquired set at its latest fiscal year on file; the large dot is TSMC, ranked from the top. Banks, insurers, and card networks report no cost of revenue, so they have no dot on the margin rows. A value past the end of a scale is pinned at the edge and says so on hover.
The shape of a revenue dollar
Cost of revenueOther operating costsOperating incomeNet margin
Each column is one fiscal year scaled to 100% of revenue, so the shape is comparable even as revenue grows. The bottom band is what survives as operating income; the line is net margin after interest and tax.
Return on equity, taken apart
ROE is net margin times asset turnover times leverage. The three shaded rows multiply to the row below them, so a change in ROE can be traced to pricing and cost (margin), to how hard the asset base works (turnover), or to how much of it is financed by debt (leverage). Averages use the prior year-end balance, so the first year on file has no ratio.
FY2020
FY2021
FY2022
FY2023
FY2024
Revenue
NT$1.34T
NT$1.59T
NT$2.26T
NT$2.16T
NT$2.89T
Revenue growth
25.2%
18.5%
42.6%
-4.5%
33.9%
Net income
NT$510.7B
NT$592.4B
NT$992.9B
NT$851.7B
NT$1.16T
Net margin
38.1%
37.3%
43.9%
39.4%
40.0%
× Asset turnover
0.53×
0.49×
0.52×
0.41×
0.47×
× Leverage (assets / equity)
1.46×
1.63×
1.72×
1.66×
1.59×
= Return on equity
29.6%
29.7%
39.3%
26.9%
30.2%
Return on assets
20.3%
18.3%
22.9%
16.2%
19.0%
Capex / revenue
37.9%
52.9%
47.8%
43.9%
33.0%
Operating cash flow / net income
1.61×
1.88×
1.62×
1.46×
1.58×
R&D / revenue
8.2%
7.9%
7.2%
8.4%
7.1%
Operating cash flow over net income above 1× means earnings are arriving as cash; well below 1× for several years is the first place to look for earnings that are not. Capex over revenue is how much of each sales dollar goes back into the asset base.
Filing sources and accounting concepts
Provenance
Pulled from the SEC’s XBRL company-facts API. Each line below is the standardized concept that fed it; when a company changed concepts across years (a revenue standard change, a capex relabel), every alias used is listed. Missing concepts are blank, never zero. Values are as reported in the most recently filed annual report covering each period, so restated comparatives win.