Tower Semiconductor Ltd. (TSEM) Income Statement
TSEM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTSEM revenue and net income
Where TSEM's revenue goes
2025Each bar shows an amount and its share of revenue. TSEM kept 14.1% of revenue as net income.
TSEM profit margins
TSEM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +9.1% | −2.3% | +4.4% | +5.0% |
| Gross profit | +7.2% | −7.9% | +9.3% | +5.9% |
| Operating income | +1.5% | −14.6% | +16.4% | +9.0% |
| Net income | +6.1% | −5.9% | +21.8% | — |
| EPS (diluted) | +6.0% | −6.1% | +19.4% | −2.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TSEM quarterly EPS vs estimates
Tower Semiconductor beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 2, 2026 (estimate $0.98).
TSEM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.57B | $1.44B | $1.42B | $1.68B | $1.51B | $1.27B | $1.23B | $1.30B | $1.39B | $1.25B |
| Cost of revenue | $1.20B | $1.10B | $1.07B | $1.21B | $1.18B | $1.03B | $1.00B | $1.01B | $1.03B | $946.5M |
| Gross profit | $363.9M | $339.4M | $353.5M | $466.3M | $329.1M | $233.3M | $229.7M | $292.9M | $354.3M | $303.1M |
| Research & development | $86.5M | $20.6M | $79.8M | $83.9M | $85.4M | $78.3M | $75.6M | $73.1M | $67.7M | $63.1M |
| Sales, general & admin | $83.2M | $75.0M | $72.9M | $80.3M | $77.2M | $64.0M | $67.4M | $65.0M | $66.8M | $65.4M |
| Total operating expenses | $169.7M | $148.1M | −$193.7M | $154.6M | $162.6M | $142.3M | $143.0M | $138.0M | $134.5M | $128.6M |
| Operating income | $194.2M | $191.3M | $547.3M | $311.7M | $166.5M | $91.0M | $86.7M | $154.9M | $219.8M | $175.2M |
| Interest income | $53.8M | $55.5M | $40.0M | $13.6M | $5.4M | $8.5M | $12.9M | $10.8M | $14.8M | $21.5M |
| Interest expense | $3.7M | $5.9M | $4.4M | $5.7M | $11.7M | $16.1M | $12.0M | $22.9M | $12.6M | $17.3M |
| Income before taxes | $240.4M | $217.4M | $584.8M | $292.0M | $155.1M | $88.7M | $91.0M | $139.3M | $201.8M | $210.6M |
| Income taxes | $21.6M | $10.2M | $65.3M | $25.5M | $1.0M | $5.4M | $2.9M | $5.9M | −$99.9M | $1.4M |
| Net income | $220.5M | $207.9M | $518.5M | $264.6M | $150.0M | $82.3M | $90.0M | $135.6M | $298.0M | $203.9M |
| EBITDA | $543.5M | $451.3M | $847.3M | $590.3M | $433.1M | $336.0M | $312.3M | $369.3M | $428.3M | $372.1M |
| EPS (diluted) | $2.28 | $2.15 | $1.91 | $2.75 | $1.61 | $0.94 | $1.00 | $1.50 | $2.19 | $1.79 |
| Gross margin | 23.2% | 23.6% | 24.8% | 27.8% | 21.8% | 18.4% | 18.6% | 22.5% | 25.5% | 24.3% |
| Operating margin | 12.4% | 13.3% | 38.5% | 18.6% | 11.0% | 7.2% | 7.0% | 11.9% | 15.8% | 14.0% |
| Net margin | 14.1% | 14.5% | 36.4% | 15.8% | 9.9% | 6.5% | 7.3% | 10.4% | 21.5% | 16.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $460.1M | $413.6M | $440.2M | $395.7M | $372.1M | $358.2M | $387.2M | $370.5M | $351.2M | $327.2M | $351.7M | $358.2M |
| Cost of revenue | $322.3M | $302.7M | $322.6M | $302.6M | $292.0M | $285.0M | $300.3M | $277.5M | $264.3M | $254.6M | $267.3M | $271.3M |
| Gross profit | $137.8M | $111.0M | $117.6M | $93.0M | $80.0M | $73.2M | $86.9M | $93.1M | $86.9M | $72.6M | $84.4M | $86.9M |
| Research & development | $23.6M | $23.5M | $24.9M | $22.1M | $19.4M | $20.2M | $20.6M | $19.9M | $19.0M | $20.0M | $20.8M | $20.2M |
| Sales, general & admin | $23.9M | $22.9M | $21.9M | $20.4M | $20.7M | $20.1M | $19.8M | $17.4M | $19.1M | $18.7M | $18.4M | $18.0M |
| Total operating expenses | $47.5M | $46.4M | $46.8M | $42.5M | $40.2M | $40.3M | $40.4M | $37.3M | $31.8M | $38.6M | $39.2M | −$275.3M |
| Operating income | $90.3M | $64.6M | $70.8M | $50.6M | $39.9M | $32.9M | $46.4M | $55.8M | $55.1M | $34.0M | $45.2M | $362.2M |
| Interest income | $15.9M | $9.5M | — | — | $14.4M | $10.6M | — | — | $7.7M | $4.0M | — | — |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $5.2M | $5.2M |
| Income before taxes | $106.2M | $74.1M | $81.6M | $61.1M | $54.3M | $43.5M | $54.7M | $61.9M | $62.9M | $38.0M | $61.8M | $372.1M |
| Income taxes | $15.6M | $6.5M | $1.5M | $7.6M | $8.7M | $3.8M | $2.1M | $7.0M | $6.1M | −$5.1M | $10.1M | $34.4M |
| Net income | $90.8M | $65.0M | $80.1M | $53.6M | $46.6M | $40.1M | $55.1M | $54.6M | $53.4M | $44.6M | $53.8M | $342.1M |
| EBITDA | $173.9M | $157.0M | $159.4M | $137.5M | $128.9M | $117.7M | $139.2M | $127.2M | $114.4M | $97.5M | $498.4M | $115.5M |
| EPS (diluted) | $0.79 | $0.65 | $0.78 | $0.55 | $0.50 | $0.45 | $0.59 | $0.57 | $0.53 | $0.46 | $0.55 | $0.54 |
| Gross margin | 29.9% | 26.8% | 26.7% | 23.5% | 21.5% | 20.4% | 22.4% | 25.1% | 24.8% | 22.2% | 24.0% | 24.3% |
| Operating margin | 19.6% | 15.6% | 16.1% | 12.8% | 10.7% | 9.2% | 12.0% | 15.0% | 15.7% | 10.4% | 12.8% | 101.1% |
| Net margin | 19.7% | 15.7% | 18.2% | 13.6% | 12.5% | 11.2% | 14.2% | 14.7% | 15.2% | 13.6% | 15.3% | 95.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TSEM's financial statements (latest annual report filed April 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TSEM financial results
In fiscal year 2025 (ended December 31, 2025), Tower Semiconductor reported revenue of $1.6 billion, up 9.1% from the year before. It had net income of $220.5 million (up 6.1%), a net profit margin of 14.1%. Diluted earnings per share came to $2.28. Over five years revenue grew at an average rate of 4.4% a year.
See the TSEM stock overview for the latest quote and news, or the TSEM chart for price history and technical indicators.
TSEM income statement FAQ
What is Tower Semiconductor's annual revenue?
Tower Semiconductor reported total revenue of $1.6 billion for fiscal year 2025, which ended on December 31, 2025. That was up 9.1% from $1.4 billion the previous year.
Is Tower Semiconductor profitable?
Yes. Tower Semiconductor reported net income of $220.5 million in fiscal 2025, a net profit margin of 14.1%; its operating margin was 12.4%.
What is Tower Semiconductor's gross margin?
Tower Semiconductor's gross margin was 23.2% in fiscal 2025: for every $100 of revenue, Tower Semiconductor kept $23 after the direct cost of its products and services.
How much does Tower Semiconductor spend on research and development?
Tower Semiconductor spent $86.5 million on research and development in fiscal 2025, 5.5% of revenue.
How fast is Tower Semiconductor growing?
Revenue grew 4.4% a year on average over the last five fiscal years, from $1.3 billion to $1.6 billion.
What are Tower Semiconductor's earnings per share?
Tower Semiconductor earned $2.28 per diluted share in fiscal 2025, compared with $2.15 a year earlier.
When will Tower Semiconductor report its next earnings?
Tower Semiconductor is expected to report results for the quarter ending September 30, 2026 on November 2, 2026 before the market opens.
When does Tower Semiconductor's fiscal year end?
Tower Semiconductor's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 30, 2026.