Taiwan Semiconductor Manufacturing Company Limited (TSM) Balance Sheet

NYSE: TSMAssets, liabilities, debt and equity over 10 years.

TSM balance sheet, 2025

December 31, 2025 · New Taiwan dollars

NT$7.93T assets = NT$2.54T liabilities + NT$5.40T equity

What it ownsNT$7.93TCash & ST investments: NT$3.13T (39.4%)Cash & ST investmentsNT$3.13T · 39%Receivables: NT$282.06B (3.6%)Inventory: NT$288.11B (3.6%)Other current: NT$118.66B (1.5%)PP&E: NT$3.74T (47.1%)PP&ENT$3.74T · 47%Goodwill & intangibles: NT$24.95B (0.3%)LT investments: NT$172.37B (2.2%)Other non-current: NT$182.63B (2.3%)=How it is financedNT$7.93TCurrent liabilities: NT$1.52T (19.2%)Current liabilitiesNT$1.52T · 19%Long-term debt: NT$927.66B (11.7%)Long-term debtNT$927.66B · 12%Other LT liabilities: NT$86.55B (1.1%)Shareholders’ equity: NT$5.40T (68.0%)Shareholders’ equityNT$5.40T · 68%

Both columns are drawn to the same scale: what TSM owns equals what it owes plus shareholders’ equity. Hover a block for its value.

TSM financial health

Current ratio2.51
Comfortable · current assets cover current liabilities 2.51×
Debt / equity0.20
Low leverage · NT$0.20 of debt for each $1 of equity
Equity / assets67.5%
Equity-funded · of assets funded by shareholders
Cash / debt293.9%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles0.3%
Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

TSM balance sheet trends, 2016–2025

MetricTrendThenLatestChange
Total assetsNT$1.89T2016NT$7.93T2025+17.3%/yr
Total liabilitiesNT$526.45B2016NT$2.54T2025+19.1%/yr
Shareholders’ equityNT$1.36T2016NT$5.36T2025+16.5%/yr
Cash & short-term investmentsNT$636.20B2016NT$3.13T2025+19.4%/yr
Total debtNT$249.17B2016NT$1.06T2025+17.5%/yr
Net cash (debt)NT$387.03B2016NT$2.06T2025+NT$1.7T
Working capitalNT$469.44B2016NT$2.29T2025+NT$1.8T
Current ratio2.3520162.512025+0.16
Debt / equity0.1820160.202025+0.02
Shares outstanding5.19B20165.19B2025+0.0%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

TSM assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

TSM liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

TSM debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

TSM balance sheet in New Taiwan dollars

2025202420232022202120202019201820172016
Assets
Cash & short-term investmentsNT$3.13TNT$2.42TNT$1.69TNT$1.59TNT$1.21TNT$802.15BNT$594.46BNT$713.76BNT$656.58BNT$636.20B
Cash & equivalentsNT$2.77TNT$2.13TNT$1.47TNT$1.34TNT$1.06TNT$660.17BNT$455.40BNT$577.81BNT$553.39BNT$541.25B
Short-term investmentsNT$360.44BNT$294.39BNT$222.34BNT$243.69BNT$140.08BNT$141.98BNT$139.06BNT$135.94BNT$103.19BNT$94.95B
ReceivablesNT$282.06BNT$272.09BNT$202.01BNT$231.41BNT$198.36BNT$146.09BNT$139.82BNT$129.26BNT$122.49BNT$129.45B
InventoryNT$288.11BNT$287.87BNT$251.00BNT$221.15BNT$193.10BNT$137.35BNT$82.98BNT$103.23BNT$73.88BNT$48.68B
Other current assetsNT$118.66BNT$106.38BNT$53.26BNT$13.84BNT$10.53BNT$6.59BNT$5.35BNT$5.43BNT$4.26BNT$3.39B
Total current assetsNT$3.82TNT$3.09TNT$2.19TNT$2.05TNT$1.61TNT$1.09TNT$822.61BNT$951.68BNT$857.20BNT$817.73B
Property, plant & equipment (net)NT$3.74TNT$3.45TNT$3.10TNT$2.74TNT$2.01TNT$1.58TNT$1.37TNT$1.07TNT$1.06TNT$997.78B
Goodwill & intangible assetsNT$24.95BNT$26.28BNT$22.77BNT$26.00BNT$26.82BNT$25.77BNT$20.65BNT$17.00BNT$14.18BNT$14.61B
Long-term investmentsNT$172.37BNT$149.04BNT$129.27BNT$68.93BNT$29.38BNT$27.73BNT$30.09BNT$29.21BNT$41.44BNT$46.00B
Other non-current assetsNT$182.63BNT$0NT$81.40BNT$81.20BNT$54.37BNT$31.71BNT$21.84BNT$20.09BNT$16.37BNT$10.18B
Total assetsNT$7.93TNT$6.69TNT$5.53TNT$4.96TNT$3.73TNT$2.76TNT$2.26TNT$2.09TNT$1.99TNT$1.89T
Liabilities
Accounts payableNT$260.28BNT$74.23BNT$57.29BNT$268.38BNT$193.03BNT$196.79BNT$179.58BNT$76.11BNT$84.14BNT$89.22B
Short-term debtNT$136.93BNT$59.86BNT$12.10BNT$19.31BNT$114.92BNT$88.56BNT$118.52BNT$123.65BNT$122.17BNT$96.06B
Deferred revenue—NT$89.43BNT$54.40BNT$71.88BNT$426.30BNT$329.10BNT$259.85BNT$156.87BNT$180.54BNT$162.81B
Total current liabilitiesNT$1.52TNT$1.26TNT$913.58BNT$944.23BNT$739.50BNT$617.15BNT$590.74BNT$356.84BNT$386.89BNT$348.29B
Long-term debtNT$927.66BNT$987.18BNT$946.96BNT$868.86BNT$610.07BNT$254.10BNT$40.14BNT$56.90BNT$91.80BNT$153.12B
Lease obligationsNT$31.59BNT$28.76BNT$28.68BNT$29.76BNT$20.76BNT$20.56BNT$15.04BNT$0NT$0NT$0
Other long-term liabilitiesNT$86.55BNT$116.65BNT$188.56BNT$191.20BNT$205.20BNT$38.83BNT$11.83BNT$15.19BNT$18.60BNT$25.05B
Total liabilitiesNT$2.54TNT$2.37TNT$2.05TNT$2.00TNT$1.55TNT$910.09BNT$642.71BNT$428.93BNT$497.29BNT$526.45B
Shareholders' equity
Common stock & paid-in capitalNT$259.33BNT$259.33BNT$259.32BNT$259.30BNT$259.30BNT$259.30BNT$259.30BNT$259.30BNT$259.30BNT$259.30B
Retained earnings (deficit)NT$5.04TNT$3.92TNT$2.88TNT$2.64TNT$1.91TNT$1.59TNT$1.33TNT$1.36TNT$1.21TNT$1.04T
Treasury stock——————NT$0NT$0NT$0NT$0
Accumulated other comprehensive incomeNT$470.55BNT$38.70BNT$292.87BNT$311.53BNT$370.45BNT$307.62BNT$321.82B−NT$15.45B−NT$26.92BNT$1.66B
Minority interestNT$41.18BNT$35.01BNT$24.34BNT$14.81B——NT$0NT$0NT$0NT$0
Total shareholders' equityNT$5.36TNT$4.32TNT$3.48TNT$2.96TNT$2.17TNT$1.85TNT$1.62TNT$1.66TNT$1.49TNT$1.36T
Key figures
Total debtNT$1.06TNT$986.46BNT$959.07BNT$888.17BNT$749.07BNT$365.19BNT$158.66BNT$180.55BNT$213.97BNT$249.17B
Net cash (debt)NT$2.06TNT$1.44TNT$728.70BNT$698.33BNT$456.01BNT$436.96BNT$435.80BNT$533.20BNT$442.61BNT$387.03B
Working capitalNT$2.29TNT$1.82TNT$1.28TNT$1.11TNT$867.57BNT$475.03BNT$231.88BNT$594.84BNT$470.31BNT$469.44B
Tangible book valueNT$5.33TNT$4.30TNT$3.46TNT$2.93TNT$2.14TNT$1.82TNT$1.60TNT$1.64TNT$1.48TNT$1.34T
Shares outstanding5.19B5.19B5.19B5.19B5.19B5.19B5.19B5.19B5.19B5.19B
Current ratio2.512.442.402.172.171.771.392.672.222.35
Quick ratio2.242.132.071.931.901.541.242.362.012.20
Debt / equity0.200.230.280.300.350.200.100.110.140.18
Equity / assets67.5%64.6%63.0%59.6%58.3%67.0%71.6%79.4%75.0%72.0%

Quarterly columns are labeled by the month the quarter ended. Figures in New Taiwan dollars as reported (latest annual report filed April 16, 2026); data from EODHD.

TSM financial position

At the end of fiscal 2025 (December 31, 2025), Taiwan Semiconductor Manufacturing had total assets of NT$7.93 trillion (up 18.5% from a year earlier), total liabilities of NT$2.54 trillion and shareholders' equity of NT$5.36 trillion. It held NT$3.13 trillion in cash and short-term investments against NT$1.06 trillion of debt, a net cash position of NT$2.06 trillion. Its current ratio was 2.51. In the latest quarter (ended September 30, 2026) total assets were NT$10.03 trillion and equity NT$6.98 trillion.

Related: TSM income statement, TSM cash flow statement, TSM key metrics. See the TSM stock overview for the latest quote and news.

TSM balance sheet FAQ

What are Taiwan Semiconductor Manufacturing's total assets?

Taiwan Semiconductor Manufacturing reported total assets of NT$7.93 trillion at the end of fiscal 2025 (December 31, 2025), compared with NT$6.69 trillion a year earlier.

How much debt does Taiwan Semiconductor Manufacturing have?

Taiwan Semiconductor Manufacturing had NT$1.06 trillion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.20.

How much cash does Taiwan Semiconductor Manufacturing have?

Taiwan Semiconductor Manufacturing held NT$3.13 trillion in cash and short-term investments at the end of fiscal 2025; with NT$1.06 trillion of debt that is net cash of NT$2.06 trillion.

What is Taiwan Semiconductor Manufacturing's book value?

Taiwan Semiconductor Manufacturing's shareholders' equity (book value) was NT$5.36 trillion at the end of fiscal 2025.

What is Taiwan Semiconductor Manufacturing's current ratio?

Taiwan Semiconductor Manufacturing had current assets of NT$3.82 trillion and current liabilities of NT$1.52 trillion, a current ratio of 2.51 (it can cover its short-term obligations).

How much goodwill does Taiwan Semiconductor Manufacturing have?

Taiwan Semiconductor Manufacturing carried NT$25.0 billion of goodwill and intangible assets, 0.3% of total assets, at the end of fiscal 2025.

Semiconductors: balance sheet