TSMC

Valuation Analysis

About the Company

TSMC en bref

TSMC (TSM) is currently trading at 404,10 € with a market capitalization of 2,10 Bn €. The trailing P/E ratio stands at 39.83x, with a forward P/E of 23.57x. The 52-week range spans from 179,87 € to 405,59 €; the current price is 0.4% below the yearly high. Year-over-year revenue growth stands at +35.1%. The net profit margin stands at 46.51%.

💰 Dividende

TSMC currently does not pay a dividend. The company typically reinvests its earnings into growth initiatives and product development.

📊 Avis des analystes

18 analystes évaluent TSMC (TSM) au consensus : Achat Fort. L'objectif de cours moyen est de 412,94 €, soit un potentiel de +2.19% par rapport au cours actuel. La fourchette des objectifs de cours des analystes va de 308,79 € à 610,61 €.

TSMC : la thèse d'investissement en détail

TSMC (TSM) operates in the Technology — specifically Semiconductors — and is headquartered in Taiwan. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.

Le scénario haussier

Top-line momentum is unusually strong with revenue expanding 35.1% year-over-year, a pace that puts the company well above the market average and signals genuine demand traction rather than mere cyclical tailwind. With a gross margin near 61.87%, the company sits in the top tier of its industry — these are the kinds of structural margins that protect earnings during downturns. Return on equity of 36.21% places management among the most capital-efficient operators in the public market — every euro of shareholder capital is working hard.

Le scénario baissier

Our valuation screen flags the stock as overvalued — current multiples imply the business needs to deliver well above its recent trajectory to justify the price.

Valorisation en contexte

The PEG ratio at 1.33 sits in the reasonable zone — the price tag is roughly aligned with the company's growth profile, neither punishing nor euphoric. The EV/EBITDA multiple of 5.4x is below the historical equity-market average — strategic acquirers would find the cash-flow profile attractive at this level.

Signal Smart Money

On the institutional side, TSMC appears in the disclosed holdings of Druckenmiller. Smart-money managers track positioning, fundamentals and competitive dynamics with research budgets few retail investors can match — when several converge on the same name, it is rarely random. That doesn't mean blind copying makes sense, but it does raise the bar for the bear case.

À surveiller

• The forward P/E of 23.57x is meaningfully below the trailing 39.83x — analysts expect earnings to step up; the next earnings release is the test.
• The share is trading at 99.3% of its 52-week range — a break above the recent high opens technical upside, a failure here often invites profit-taking.

Thèse d'investissement : forces et faiblesses

Aperçu technique

Price trades above both the 50- and 200-day moving averages, with 50d above 200d — a classic bullish setup (golden-cross alignment).

Profil de risque

The data points to market-like volatility.

Trading Data

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