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TSMC Investor Presentation 2026
73098_rns_2026-05-20_cf7ec38f-c492-4743-9b70-45d1823578cb.pdf
Investor Presentation
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Unleash Innovation
2026 First Quarter Earnings Conference
April 16, 2026
© 2026 TSMC, Ltd
TSMC Property
TSMC
Unleash Innovation
Agenda
- Welcome
Jeff Su, IR Director - 1Q26 Financial Results and 2Q26 Outlook
Wendell Huang, CFO - Key Messages
Wendell Huang, CFO - Q&A
C.C. Wei, Chairman & CEO
© 2026 TSMC, Ltd
TSMC Property
TSMC
Unleash Innovation
Safe Harbor Notice
- TSMC’s statements of its current expectations are forward-looking statements subject to significant risks and uncertainties and actual results may differ materially from those contained in the forward-looking statements.
- Information as to those factors that could cause actual results to vary can be found in TSMC’s 2024 Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the “SEC”) on April 17, 2025 and such other documents as TSMC may file with, or submit to, the SEC from time to time.
- Except as required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.
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Statements of Comprehensive Income
Selected Items from Statements of Comprehensive Income
(In NT$ billions unless otherwise noted)
| 1Q26 | 1Q26 Guidance | 4Q25 | 1Q25 | 1Q26 Over 4Q25 | 1Q26 Over 1Q25 | |
|---|---|---|---|---|---|---|
| Net Revenue (US$ billions) | 35.90 | 34.6-35.8 | 33.73 | 25.53 | +6.4% | +40.6% |
| Net Revenue | 1,134.10 | 1,046.09 | 839.25 | +8.4% | +35.1% | |
| Gross Margin | 66.2% | 63.0%-65.0% | 62.3% | 58.8% | +3.9 ppts | +7.4 ppts |
| Operating Expenses | (94.01) | (88.19) | (85.19) | +6.6% | +10.4% | |
| Operating Margin | 58.1% | 54.0%-56.0% | 54.0% | 48.5% | +4.1 ppts | +9.6 ppts |
| Non-Operating Items | 28.83 | 27.46 | 23.82 | +5.0% | +21.1% | |
| Net Income Attributable to Shareholders of the Parent Company | 572.48 | 505.74 | 361.56 | +13.2% | +58.3% | |
| Net Profit Margin | 50.5% | 48.3% | 43.1% | +2.2 ppts | +7.4 ppts | |
| EPS (NT Dollar) | 22.08 | 19.50 | 13.94 | +13.2% | +58.3% | |
| ROE | 40.5% | 38.8% | 32.7% | +1.7 ppts | +7.8 ppts | |
| Shipment (Kpcs, 12"-equiv. Wafer) | 4,174 | 3,961 | 3,259 | +5.4% | +28.1% | |
| Average Exchange Rate--USD/NTD | 31.59 | 31.6 | 31.01 | 32.88 | +1.9% | -3.9% |
- Diluted weighted average outstanding shares were 25,931mn units in 1Q26
** ROE figures are annualized based on average equity attributable to shareholders of the parent company
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1Q26 Revenue by Technology
7nm and Below Revenue
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1Q26 Revenue by Platform
Growth Rate by Platform (QoQ)
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Balance Sheets & Key Indices
Selected Items from Balance Sheets
(In NT$ billions)
- Cash & Marketable Securities
- Accounts Receivable
- Inventories
- Long-term Investments
- Net PP&E
Total Assets
- Current Liabilities
- Long-term Interest-bearing Debts
Total Liabilities
Total Shareholders' Equity
Key Indices
- A/R Turnover Days
- Inventory Turnover Days
- Current Ratio (x)
- Asset Productivity (x)
| 1Q26 | |
|---|---|
| Amount | % |
| 3,383.60 | 39.0 % |
| 363.01 | 4.2 % |
| 311.45 | 3.6 % |
| 166.57 | 1.9 % |
| 3,954.68 | 45.7 % |
| 8,660.95 | 100.0 % |
| 1,714.25 | 19.8 % |
| 901.02 | 10.4 % |
| 2,728.56 | 31.5 % |
| 5,932.39 | 68.5 % |
| 26 | |
| 80 | |
| 2.5 | |
| 1.2 | |
| 4Q25 | |
| --- | --- |
| Amount | % |
| 3,068.59 | 38.7 % |
| 281.79 | 3.6 % |
| 288.11 | 3.6 % |
| 172.37 | 2.2 % |
| 3,691.84 | 46.5 % |
| 7,933.02 | 100.0 % |
| 1,458.02 | 18.4 % |
| 896.06 | 11.3 % |
| 2,472.23 | 31.2 % |
| 5,460.79 | 68.8 % |
| 26 | |
| 74 | |
| 2.6 | |
| 1.2 | |
| 1Q25 | |
| --- | --- |
| Amount | % |
| 2,703.09 | 37.9 % |
| 243.95 | 3.4 % |
| 293.39 | 4.1 % |
| 160.79 | 2.2 % |
| 3,400.81 | 47.7 % |
| 7,133.29 | 100.0 % |
| 1,399.80 | 19.6 % |
| 986.98 | 13.8 % |
| 2,531.66 | 35.5 % |
| 4,601.63 | 64.5 % |
| 28 | |
| 83 | |
| 2.4 | |
| 1.0 |
- Total outstanding shares were 25,932mn units at 3/31/26
** Asset productivity = Annualized net revenue / Average net PP&E
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Cash Flows
| (In NT$ billions) | 1Q26 | 4Q25 | 1Q25 |
|---|---|---|---|
| Beginning Balance | 2,767.86 | 2,470.76 | 2,127.63 |
| Cash from operating activities | 698.97 | 725.51 | 625.57 |
| Capital expenditures | (350.76) | (356.91) | (330.83) |
| Cash dividends | (129.66) | (129.66) | (103.72) |
| Bonds payable | 12.40 | 21.75 | 16.20 |
| Investments and others | 36.83 | 36.41 | 59.95 |
| Ending Balance | 3,035.64 | 2,767.86 | 2,394.80 |
| Free Cash Flow * | 348.21 | 368.60 | 294.74 |
- Free cash flow = Cash from operating activities – Capital expenditures
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TSMC Property
2Q26 Guidance
Based on our current business outlook, management expects:
- Revenue to be between US$39.0 billion and US$40.2 billion
And, based on the exchange rate assumption of 1 US dollar to 31.7 NT dollars, management expects:
- Gross profit margin to be between 65.5% and 67.5%
- Operating profit margin to be between 56.5% and 58.5%
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Future Outlook
Based on our current business outlook, management expects:
- 2026 revenue to increase by above 30% in US dollar terms
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Recap of Recent Major Events
-
TSMC Board of Directors Approved NT$6.00 Cash Dividend for the Fourth Quarter of 2025 and Set June 11, 2026 as Ex-Dividend Date, June 17, 2026 as the Record Date and July 9, 2026 as the Distribution Date (2026/02/10)
-
Please visit TSMC's website (https://www.tsmc.com) and Market Observation Post System (https://mops.twse.com.tw) for details and other announcements
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https://www.tsmc.com
[email protected]
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