Taiwan Semiconductor Manufacturing Company Limited (TSM) Income Statement

NYSE: TSMRevenue, profits, margins and EPS over 10 years.

TSM 2025 at a glance

Fiscal year ended December 31, 2025 · New Taiwan dollars
Revenue+33.0%
NT$3.85T
2025 · hover or tap a bar for each year
2016: NT$947.91B (+12.4%)2017: NT$977.44B (+3.1%)2018: NT$1.03T (+5.5%)2019: NT$1.07T (+3.7%)2020: NT$1.34T (+25.2%)2021: NT$1.59T (+18.5%)2022: NT$2.26T (+42.6%)2023: NT$2.16T (−4.5%)2024: NT$2.89T (+33.9%)2025: NT$3.85T (+33.0%)
20162025
Gross profit+41.9%
NT$2.30T
2025 · hover or tap a bar for each year
2016: NT$474.83B (+15.7%)2017: NT$494.83B (+4.2%)2018: NT$497.87B (+0.6%)2019: NT$492.70B (−1.0%)2020: NT$711.13B (+44.3%)2021: NT$819.54B (+15.2%)2022: NT$1.35T (+64.5%)2023: NT$1.18T (−12.8%)2024: NT$1.62T (+38.2%)2025: NT$2.30T (+41.9%)
20162025
Operating income+47.9%
NT$1.96T
2025 · hover or tap a bar for each year
2016: NT$377.96B (+18.1%)2017: NT$385.56B (+2.0%)2018: NT$383.62B (−0.5%)2019: NT$372.70B (−2.8%)2020: NT$566.78B (+52.1%)2021: NT$649.98B (+14.7%)2022: NT$1.12T (+72.5%)2023: NT$921.47B (−17.8%)2024: NT$1.32T (+43.5%)2025: NT$1.96T (+47.9%)
20162025
Net income+49.8%
NT$1.74T
2025 · hover or tap a bar for each year
2016: NT$331.71B (+9.5%)2017: NT$345.00B (+4.0%)2018: NT$363.05B (+5.2%)2019: NT$353.95B (−2.5%)2020: NT$510.74B (+44.3%)2021: NT$592.36B (+16.0%)2022: NT$992.92B (+67.6%)2023: NT$851.74B (−14.2%)2024: NT$1.16T (+36.0%)2025: NT$1.74T (+49.8%)
20162025
Net profit margin+5.1 pts
45.1%
2025 · hover or tap a point for each year
2016: 35.0% (−0.9 pts)2017: 35.3% (+0.3 pts)2018: 35.2% (−0.1 pts)2019: 33.1% (−2.1 pts)2020: 38.1% (+5.1 pts)2021: 37.3% (−0.8 pts)2022: 43.9% (+6.5 pts)2023: 39.4% (−4.5 pts)2024: 40.0% (+0.6 pts)2025: 45.1% (+5.1 pts)
20162025

TSM revenue and net income

RevenueNet incomeNet margin (right axis)

Where TSM's revenue goes

2025
Revenue
NT$3.85T100.0%
Cost of revenue
−NT$1.54T−40.1%
Gross profit
NT$2.30T59.9%
Research & development
−NT$248.98B−6.5%
Sales, general & admin
−NT$100.25B−2.6%
Operating income
NT$1.96T50.8%
Interest & other income
NT$107.12B2.8%
Income taxes
−NT$329.65B−8.6%
Net income
NT$1.74T45.1%

Each bar shows an amount and its share of revenue. TSM kept 45.1% of revenue as net income.

TSM profit margins

GrossOperatingNet

TSM growth rates

to 2025
1 year3 years5 years10 years
Revenue+33.0%+19.3%+23.5%+16.4%
Gross profit+41.9%+19.6%+26.5%+18.8%
Operating income+47.9%+20.4%+28.1%+19.8%
Net income+49.8%+20.5%+27.7%+19.1%

1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.

TSM income statement in New Taiwan dollars

2025202420232022202120202019201820172016
RevenueNT$3.85TNT$2.89TNT$2.16TNT$2.26TNT$1.59TNT$1.34TNT$1.07TNT$1.03TNT$977.44BNT$947.91B
Cost of revenueNT$1.54TNT$1.27TNT$986.62BNT$915.54BNT$767.88BNT$628.12BNT$577.28BNT$533.49BNT$482.62BNT$473.08B
Gross profitNT$2.30TNT$1.62TNT$1.18TNT$1.35TNT$819.54BNT$711.13BNT$492.70BNT$497.87BNT$494.83BNT$474.83B
Research & developmentNT$248.98BNT$204.18BNT$182.37BNT$163.26BNT$124.73BNT$109.49BNT$91.42BNT$85.90BNT$80.73BNT$71.21B
Sales, general & adminNT$100.25BNT$96.89BNT$71.46BNT$63.45BNT$44.49BNT$35.57BNT$28.09BNT$26.25BNT$27.17BNT$25.70B
Total operating expensesNT$349.23BNT$302.30BNT$253.65BNT$227.08BNT$169.56BNT$144.35BNT$120.00BNT$114.25BNT$109.27BNT$96.87B
Operating incomeNT$1.96TNT$1.32TNT$921.47BNT$1.12TNT$649.98BNT$566.78BNT$372.70BNT$383.62BNT$385.56BNT$377.96B
Interest incomeNT$98.86BNT$87.21BNT$60.29BNT$22.42BNT$5.90BNT$10.53BNT$16.49BNT$14.01BNT$10.20BNT$8.03B
Interest expenseNT$12.37BNT$10.50BNT$12.00BNT$11.75BNT$5.41BNT$2.08BNT$3.25BNT$3.05BNT$3.33BNT$3.31B
Income before taxesNT$2.06TNT$1.41TNT$979.17BNT$1.14TNT$663.04BNT$584.75BNT$389.86BNT$397.54BNT$396.16BNT$385.92B
Income taxesNT$329.65BNT$248.32BNT$128.29BNT$150.78BNT$70.16BNT$73.74BNT$35.84BNT$34.44BNT$51.12BNT$54.12B
Net incomeNT$1.74TNT$1.16TNT$851.74BNT$992.92BNT$592.36BNT$510.74BNT$353.95BNT$363.05BNT$345.00BNT$331.71B
EBITDANT$2.75TNT$1.98TNT$1.52TNT$1.59TNT$1.09TNT$918.55BNT$680.00BNT$693.14BNT$659.63BNT$613.06B
Gross margin59.9%56.1%54.4%59.6%51.6%53.1%46.0%48.3%50.6%50.1%
Operating margin50.8%45.7%42.6%49.5%40.9%42.3%34.8%37.2%39.4%39.9%
Net margin45.1%40.0%39.4%43.9%37.3%38.1%33.1%35.2%35.3%35.0%

Quarterly columns are labeled by the month the quarter ended. Figures in New Taiwan dollars as reported in TSM's financial statements (latest annual report filed April 16, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.

TSM financial results

In fiscal year 2025 (ended December 31, 2025), Taiwan Semiconductor Manufacturing reported revenue of NT$3.85 trillion, up 33.0% from the year before. It had net income of NT$1.74 trillion (up 49.8%), a net profit margin of 45.1%. Over five years revenue grew at an average rate of 23.5% a year. Figures are in New Taiwan dollars, the currency of its financial statements.

See the TSM stock overview for the latest quote and news, or the TSM chart for price history and technical indicators.

TSM income statement FAQ

What is Taiwan Semiconductor Manufacturing's annual revenue?

Taiwan Semiconductor Manufacturing reported total revenue of NT$3.85 trillion for fiscal year 2025, which ended on December 31, 2025. That was up 33.0% from NT$2.89 trillion the previous year.

Is Taiwan Semiconductor Manufacturing profitable?

Yes. Taiwan Semiconductor Manufacturing reported net income of NT$1.74 trillion in fiscal 2025, a net profit margin of 45.1%; its operating margin was 50.8%.

What is Taiwan Semiconductor Manufacturing's gross margin?

Taiwan Semiconductor Manufacturing's gross margin was 59.9% in fiscal 2025: for every $100 of revenue, Taiwan Semiconductor Manufacturing kept $60 after the direct cost of its products and services.

How much does Taiwan Semiconductor Manufacturing spend on research and development?

Taiwan Semiconductor Manufacturing spent NT$249.0 billion on research and development in fiscal 2025, 6.5% of revenue.

How fast is Taiwan Semiconductor Manufacturing growing?

Revenue grew 23.5% a year on average over the last five fiscal years, from NT$1.34 trillion to NT$3.85 trillion.

When does Taiwan Semiconductor Manufacturing's fiscal year end?

Taiwan Semiconductor Manufacturing's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 16, 2026.

Semiconductors income statements