Balance Sheet Taiwan Semiconductor Co., Ltd.

Equities

5425

TW0005425003

Semiconductors

End-of-day quote Taipei Exchange Other stock markets 12/09/2024			5-day change	1st Jan Change
60.40 ^TWD	+2.55%		+0.17%	-33.99%

08-27	US to award HP $50 million for semiconductor tech project	RE
08-13	Taiwan Semiconductor Co., Ltd. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2024	CI

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Published financial data: TAIWAN SEMICONDUCTOR CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	10.5B	10.39B	13.18B	15.69B	14.62B
Total Revenues	10.5B	10.39B	13.18B	15.69B	14.62B
Cost of Goods Sold, Total	7.14B	7.22B	9.05B	10.34B	10.12B
Gross Profit	3.36B	3.17B	4.13B	5.35B	4.49B
Selling General & Admin Expenses, Total	1.75B	1.63B	1.9B	2.2B	2.27B
Provision for Bad Debts	-	-	-	-	7.71M
R&D Expenses	318M	278M	317M	355M	443M
Other Operating Expenses, Total	2.06B	1.91B	2.22B	2.56B	2.72B
Operating Income	1.3B	1.26B	1.91B	2.79B	1.77B
Interest Expense, Total	-59.4M	-36.08M	-30.91M	-38.33M	-80.47M
Interest And Investment Income	16.74M	14.46M	14.54M	19.89M	42.82M
Net Interest Expenses	-42.65M	-21.62M	-16.37M	-18.44M	-37.66M
Currency Exchange Gains (Loss)	1.24M	-17.73M	17.31M	262M	61.37M
Other Non Operating Income (Expenses)	37.54M	107M	43.78M	-15.75M	45.19M
EBT, Excl. Unusual Items	1.29B	1.33B	1.95B	3.02B	1.84B
Gain (Loss) On Sale Of Investments	3.47M	6.48M	308K	-	-
Gain (Loss) On Sale Of Assets	1.47M	-7.14M	-3.6M	-4.84M	274K
Asset Writedown	-403K	159K	-2.7M	595K	88K
EBT, Incl. Unusual Items	1.3B	1.33B	1.95B	3.01B	1.84B
Income Tax Expense	288M	336M	566M	837M	528M
Earnings From Continuing Operations	1.01B	992M	1.38B	2.18B	1.31B
Net Income to Company	1.01B	992M	1.38B	2.18B	1.31B
Minority Interest	-484M	-455M	-499M	-614M	-591M
Net Income - (IS)	528M	537M	883M	1.56B	719M
Net Income to Common Incl Extra Items	528M	537M	883M	1.56B	719M
Net Income to Common Excl. Extra Items	528M	537M	883M	1.56B	719M
Per Share Items
Net EPS - Basic	2.29	2.29	3.55	6.28	2.89
Basic EPS - Continuing Operations	2.29	2.29	3.55	6.28	2.89
Basic Weighted Average Shares Outstanding	230M	235M	249M	249M	249M
Net EPS - Diluted	2.18	2.17	3.52	6.23	2.88
Diluted EPS - Continuing Operations	2.18	2.17	3.52	6.23	2.88
Diluted Weighted Average Shares Outstanding	247M	252M	251M	251M	250M
Normalized Basic EPS	1.41	1.6	2.9	5.11	2.24
Normalized Diluted EPS	1.32	1.49	2.88	5.07	2.23
Dividend Per Share	1.5	1.5	2.5	4	2
Payout Ratio	130.56	65.4	42.46	39.78	138.42
Supplemental Items
EBITDA	1.88B	1.98B	2.61B	3.55B	2.55B
EBITA	1.38B	1.34B	1.98B	2.86B	1.82B
EBIT	1.3B	1.26B	1.91B	2.79B	1.77B
EBITDAR	1.9B	2B	2.63B	3.57B	2.57B
Total Revenues (As Reported)	10.5B	10.39B	13.18B	15.69B	14.62B
Effective Tax Rate - (Ratio)	22.16	25.32	29.05	27.77	28.72
Total Current Taxes	299M	280M	495M	727M	526M
Total Deferred Taxes	-11.05M	56.6M	70.25M	110M	1.85M
Normalized Net Income	325M	376M	722M	1.27B	557M
Interest Capitalized	-	32.66M	2.06M	474K	1.42M
Interest on Long-Term Debt	29.29M	60.28M	15.84M	10.17M	8.84M
Non-Cash Pension Expense	535K	295K	170K	144K	265K
Supplemental Operating Expense Items
Selling and Marketing Expenses	1.13B	1.03B	1.18B	1.3B	1.38B
General and Administrative Expenses	617M	602M	726M	907M	891M
Research And Development Expense From Footnotes	318M	278M	317M	355M	443M
Net Rental Expense, Total	16.04M	18.34M	26.13M	20.02M	20.75M
Imputed Operating Lease Interest Expense	2.08M	2.56M	2.1M	2.11M	4.5M
Imputed Operating Lease Depreciation	13.97M	15.77M	24.03M	17.9M	16.25M
Stock-Based Comp., Other (Total)	7.72M	8.77M	15.19M	14.71M	10.68M
Total Stock-Based Compensation	7.72M	8.77M	15.19M	14.71M	10.68M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.23B	2.56B	2.7B	3.6B	3.38B
Short Term Investments	258M	482M	374M	599M	86.54M
Trading Asset Securities, Total	-	-	150M	-	20.03M
Total Cash And Short Term Investments	2.49B	3.05B	3.23B	4.2B	3.49B
Accounts Receivable, Total	2.12B	2.37B	2.95B	3.02B	2.58B
Other Receivables	37.95M	48.19M	64.21M	106M	94.61M
Total Receivables	2.16B	2.42B	3.02B	3.12B	2.67B
Inventory	1.76B	1.8B	2.44B	3.5B	3.35B
Prepaid Expenses	210M	176M	177M	252M	148M
Other Current Assets, Total	4.74M	6.31M	5.04M	1.8M	5.57M
Total Current Assets	6.63B	7.45B	8.87B	11.07B	9.67B
Gross Property Plant And Equipment	8.56B	9.32B	9.87B	10.52B	11.2B
Accumulated Depreciation	-3.81B	-4.45B	-5.09B	-5.81B	-6.58B
Net Property Plant And Equipment	4.75B	4.87B	4.78B	4.71B	4.61B
Long-term Investments	-	-	-	4.16M	370M
Goodwill	1.11B	1.05B	1.02B	1.14B	1.27B
Other Intangibles, Total	556M	477M	388M	308M	578M
Deferred Tax Assets Long-Term	492M	464M	456M	458M	544M
Other Long-Term Assets, Total	838M	324M	467M	526M	505M
Total Assets	14.37B	14.63B	15.99B	18.22B	17.55B
Liabilities
Accounts Payable, Total	1.02B	1.17B	1.68B	1.65B	1.36B
Accrued Expenses, Total	340M	335M	452M	584M	473M
Short-term Borrowings	1.76B	1.4B	921M	1.47B	1.62B
Current Portion of Long-Term Debt	887M	783M	65M	322M	307M
Current Portion of Leases	94.33M	91.16M	113M	106M	105M
Current Income Taxes Payable	193M	317M	413M	415M	220M
Other Current Liabilities	541M	442M	664M	809M	800M
Total Current Liabilities	4.84B	4.54B	4.3B	5.35B	4.88B
Long-Term Debt	1.01B	1.3B	1.48B	1.08B	840M
Long-Term Leases	320M	220M	191M	123M	64.88M
Unearned Revenue Non Current	-	-	-	-	-
Pension & Other Post Retirement Benefits	49.32M	45.25M	42.79M	35M	39.34M
Deferred Tax Liability Non Current	607M	631M	685M	825M	972M
Other Non Current Liabilities	56.8M	47.37M	51.79M	71.57M	45.99M
Total Liabilities	6.89B	6.78B	6.76B	7.49B	6.85B
Common Stock, Total	2.49B	2.49B	2.65B	2.63B	2.63B
Additional Paid In Capital	1.39B	1.52B	2.17B	2.14B	2.21B
Retained Earnings	2.59B	2.76B	3.25B	4.16B	3.82B
Treasury Stock	-430M	-507M	-507M	-506M	-506M
Comprehensive Income and Other	-446M	-437M	-531M	-360M	-420M
Total Common Equity	5.61B	5.83B	7.03B	8.06B	7.74B
Minority Interest	1.87B	2.02B	2.2B	2.66B	2.96B
Total Equity	7.48B	7.85B	9.23B	10.73B	10.7B
Total Liabilities And Equity	14.37B	14.63B	15.99B	18.22B	17.55B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	236M	234M	250M	249M	249M
ECS Total Common Shares Outstanding	236M	234M	250M	249M	249M
Book Value / Share	23.72	24.88	28.12	32.42	31.11
Tangible Book Value	3.94B	4.3B	5.61B	6.62B	5.89B
Tangible Book Value Per Share	16.68	18.34	22.47	26.61	23.68
Total Debt	4.08B	3.79B	2.77B	3.1B	2.94B
Net Debt	1.59B	746M	-450M	-1.09B	-551M
Debt Equivalent of Unfunded Proj. Benefit Obligation	49.32M	45.25M	42.79M	35M	39.34M
Debt Equivalent Oper. Leases	128M	147M	209M	160M	166M
Minority Interest, Total (Incl. Fin. Div)	1.87B	2.02B	2.2B	2.66B	2.96B
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	535M	647M	1.08B	1.32B	1.12B
Inventories - Work In Process, Total	341M	353M	513M	701M	505M
Inventories - Finished Goods, Total	1.01B	935M	1.08B	1.83B	1.73B
Land - (BS)	861M	861M	861M	861M	867M
Buildings, Total	1.35B	1.46B	1.45B	1.46B	1.52B
Machinery, Total	5.82B	6.49B	6.97B	7.58B	8.11B
Assets under Capital Lease - Gross	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	33.44M	30.56M	39.43M	37.51M	46.45M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	528M	537M	883M	1.56B	719M
Depreciation & Amortization - CF	609M	749M	733M	790M	848M
Amortization of Goodwill and Intangible Assets - (CF)	80.42M	74.92M	68.29M	71.7M	54.68M
Depreciation & Amortization, Total	690M	824M	801M	862M	903M
Amortization of Deferred Charges, Total - (CF)	30.39M	49.83M	55.27M	69.09M	85.12M
(Gain) Loss From Sale Of Asset	-1.47M	7.14M	3.6M	4.84M	-274K
(Gain) Loss on Sale of Investments - (CF)	-6.32M	-14.58M	-8.73M	51.15M	5.96M
Asset Writedown & Restructuring Costs	403K	-159K	2.7M	-595K	-88K
Stock-Based Compensation (CF)	-	-	-	-	-
Provision and Write-off of Bad Debts	1.19M	3.05M	9.56M	1.38M	7.71M
Other Operating Activities, Total	457M	506M	694M	767M	401M
Change in Trading Asset Securities	533M	17.1M	-144M	104M	-30.78M
Change In Accounts Receivable	294M	-247M	-592M	-66.44M	512M
Change In Inventories	200M	-39.31M	-644M	-1.06B	207M
Change In Accounts Payable	-301M	148M	502M	-24.99M	-386M
Change in Unearned Revenues	-	-	-	-	-
Change in Other Net Operating Assets	-341M	-328M	430M	-78.23M	409M
Cash from Operations	2.08B	1.46B	1.99B	2.2B	2.83B
Capital Expenditure	-884M	-361M	-683M	-619M	-567M
Sale of Property, Plant, and Equipment	10.61M	3.8M	2.42M	5.53M	1.6M
Cash Acquisitions	-1.11B	-	-	-	-358M
Sale (Purchase) of Intangible assets	-69.63M	-29.36M	-26.64M	-35.32M	-42.62M
Investment in Marketable and Equity Securities, Total	760K	-360K	-3.98M	-15.59M	-456M
Other Investing Activities, Total	-8.07M	-4.66M	-45.85M	-27.07M	9.84M
Cash from Investing	-2.07B	-392M	-757M	-692M	-1.41B
Short Term Debt Issued, Total	572M	-	-	545M	146M
Long-Term Debt Issued, Total	2.06B	1.17B	680M	419M	300M
Total Debt Issued	2.63B	1.17B	680M	964M	446M
Short Term Debt Repaid, Total	-	-360M	-481M	-	-
Long-Term Debt Repaid, Total	-2.34B	-954M	-558M	-689M	-718M
Total Debt Repaid	-2.34B	-1.31B	-1.04B	-689M	-718M
Issuance of Common Stock	300M	-	-	-	-
Repurchase of Common Stock	-38.48M	-76.95M	-	-84.54M	-
Common Dividends Paid	-689M	-351M	-375M	-622M	-995M
Common & Preferred Stock Dividends Paid	-689M	-351M	-375M	-622M	-995M
Other Financing Activities, Total	-245M	-263M	-280M	-277M	-302M
Cash from Financing	-379M	-835M	-1.01B	-708M	-1.57B
Foreign Exchange Rate Adjustments	-105M	97.34M	-83.65M	96.2M	-63.89M
Net Change in Cash	-465M	333M	138M	894M	-212M
Supplemental Items
Cash Interest Paid	31.24M	163M	18.42M	28.45M	74.5M
Cash Income Tax Paid (Refund)	366M	160M	409M	696M	737M
Levered Free Cash Flow	93.3M	1.17B	1.03B	1.03B	1.54B
Unlevered Free Cash Flow	130M	1.19B	1.05B	1.06B	1.59B
Change In Net Working Capital	455M	92.73M	306M	980M	-92.8M
Net Debt Issued / Repaid	293M	-144M	-359M	275M	-272M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	5.73	5.44	7.79	10.2	6.18
Return on Total Capital	7.34	6.8	10.09	13.5	8.05
Return On Equity %	13.69	12.95	16.19	21.82	12.23
Return on Common Equity	9.4	9.4	13.74	20.72	9.1
Margin Analysis
Gross Profit Margin %	32	30.52	31.32	34.1	30.74
SG&A Margin	16.62	15.7	14.43	14.04	15.55
EBITDA Margin %	17.91	19.05	19.79	22.62	17.45
EBITA Margin %	13.13	12.86	15	18.25	12.47
EBIT Margin %	12.36	12.14	14.49	17.79	12.1
Income From Continuing Operations Margin %	9.63	9.55	10.49	13.88	8.96
Net Income Margin %	5.02	5.17	6.7	9.96	4.92
Net Avail. For Common Margin %	5.02	5.17	6.7	9.96	4.92
Normalized Net Income Margin	3.1	3.62	5.48	8.11	3.81
Levered Free Cash Flow Margin	0.89	11.22	7.82	6.57	10.51
Unlevered Free Cash Flow Margin	1.24	11.43	7.96	6.73	10.86
Asset Turnover
Asset Turnover