Taiwan Semiconductor Manufacturing Company Limited Due Diligence

Run due diligence on Taiwan Semiconductor Manufacturing Company Limited: check compliance and get alerts when suppliers or ownership change.

Taiwan · owned by Independent (Taiwan) · www.tsmc.com · 35 vendors

Taiwan Semiconductor Manufacturing Company (TSMC) is the world's largest dedicated independent semiconductor foundry, manufacturing integrated circuits for customers including major global chip designers. Founded in 1987 and headquartered in Hsinchu, Taiwan, TSMC provides advanced process technologies and design enablement solutions that power a wide range of electronics, from smartphones to high-performance computing systems.

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1 service in catalogue across 1 category; runs on 35 sub-vendors.

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Last updated 2026-09-26 · revision 36

35 direct vendors, 276 subvendors

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Financials

Three-year financials

Financial Resilience Score: 9/10

TSMC exhibits exceptional financial resilience underpinned by dominant market positioning (~34% share of the Foundry 2.0 market in 2024) and technology leadership at leading-edge nodes (3nm accounted for 18% of 2024 wafer revenue; advanced nodes ≤7nm reached 69%). Profitability at scale is extraordinary for a capital-intensive manufacturer: 45.7% operating margin and 40.5% net margin in 2024, with operating income of NT$1.32 trillion on revenue of NT$2.89 trillion. The balance sheet is fortress-like. Shareholders' equity of NT$4.32 trillion exceeds total liabilities (NT$2.37 trillion), giving equity/assets of ~65%. Cash and equivalents of NT$2.13 trillion at year-end 2024, zero short-term borrowings, and operating cash flow of NT$1.83 trillion comfortably fund heavy capex (NT$0.96 trillion) and dividends (NT$0.36 trillion). Customer and product diversification (522 customers, 11,878 products, 288 process technologies) further strengthens durability. Offsetting these strengths are geopolitical concentration risk (overwhelming manufacturing base in Taiwan amid US-China tensions), customer concentration (top customer historically ~20-25% of revenue), execution risk on multi-region fab build-out (Arizona, Kumamoto, Dresden), semiconductor cyclicality (visible in the 2023 revenue/profit decline), and FX exposure (USD-priced sales vs. NT$/JPY/EUR costs).

Key strengths: Dominant ~34% share of Foundry 2.0 market in 2024, Technology leadership at 3nm (18% of wafer revenue) with 2nm ramping H2 2025, 45.7% operating margin and 40.5% net margin in 2024, Equity/assets ratio ~65% with NT$4.32 trillion equity, NT$2.13 trillion cash and zero short-term borrowings, Operating cash flow NT$1.83 trillion covers capex and dividends, Broad customer diversification: 522 customers, 11,878 products, Investment-grade credit rating

Risk factors: Geopolitical concentration with manufacturing base in Taiwan amid cross-strait tensions, US-China export controls affecting semiconductor industry, Customer concentration with top customer at ~20-25% of revenue, Massive front-loaded capex of NT$0.95-1.08 trillion annually 2022-2024, Execution risk on Arizona, Kumamoto, and Dresden fab build-outs, Semiconductor cyclicality demonstrated by 2023 revenue decline, FX exposure with USD-priced sales versus NT$/JPY/EUR costs

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