NYSE$TSM
Taiwan Semiconductor Manufacturing Co Ltd - ADR · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
TSMC posted strong fourth-quarter results with growth in both revenue and earnings.
TSMC delivered solid Q4 performance, driven by strong demand for 3nm and 5nm technologies, with revenues and net income growing sequentially and year-over-year.
Headline financials
Revenue & EPS history
TSMC · Revenue · Quarterly
$33.7B
Forward guidance
TSMC expects continued strong demand for leading-edge nodes to support growth into Q1 2026.
Tailwinds
- Q1 2026 revenue guidance between US$34.6B and US$35.8B
- Gross margin expected to be between 63% and 65%
- Operating margin expected between 54% and 56%
- Strong continued demand for advanced nodes
- CapEx for 2026 expected between US$52B and US$56B
Headwinds
- No specific geographic or segment risks mentioned
- High CapEx could pressure free cash flow
- Ongoing need to manage capacity amid demand cycles
- Macroeconomic uncertainties could impact orders
- Exchange rate fluctuations remain a risk
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2025
+1.2%
Avg return
Earnings day
+1.2%
Avg return
5 days after
+3.2%
Avg return
30 days after
62%
36 / 58 earnings
Positive
+10.9%
Q4 2023
Best reaction
-7.1%
Q1 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +4.5% | -1.9% | +7.8% | |
| Q4 2024 | +2.3% | +5.8% | -1.4% | |
| Q4 2023 | +10.9% | +10.9% | +23.1% | |
| Q3 2023 | +1.9% | +2.3% | +11.1% | |
| Q2 2023 | -5.6% | -2.7% | -11.6% | |
| Q1 2023 | -2.1% | -5.7% | +6.1% | |
| Q4 2022 | +6.1% | +8.8% | +16.6% | |
| Q3 2022 | -0.3% | -0.6% | +15.2% | |
| Q2 2022 | +5.3% | +6.0% | +11.8% | |
| Q1 2022 | -2.7% | -2.0% | -10.4% | |
| Q4 2021 | +6.4% | +1.2% | -8.5% | |
| Q3 2021 | +4.4% | +6.3% | +7.9% | |
| Q2 2021 | -7.0% | -6.4% | -7.1% | |
| Q1 2021 | -1.7% | -4.9% | -6.9% | |
| Q4 2020 | +5.0% | +10.1% | +15.8% | |
| Q3 2020 | -2.1% | -0.4% | +5.2% | |
| Q2 2020 | +0.5% | +2.6% | +18.7% | |
| Q1 2020 | +8.1% | +3.4% | +0.3% | |
| Q4 2019 | +0.3% | -0.3% | -0.3% | |
| Q3 2019 | -1.7% | +1.0% | +6.3% | |
| Q2 2019 | +5.3% | +6.7% | -0.2% | |
| Q1 2019 | +1.7% | +2.3% | -9.3% | |
| Q4 2018 | +3.4% | +1.0% | +7.0% | |
| Q3 2018 | -2.8% | -4.0% | -6.8% | |
| Q2 2018 | +6.0% | +5.2% | +4.5% | |
| Q1 2018 | -7.1% | -7.6% | -8.3% | |
| Q4 2017 | +3.6% | +7.3% | +0.8% | |
| Q3 2017 | -0.9% | -0.4% | +1.4% | |
| Q2 2017 | +1.6% | +0.5% | +1.3% | |
| Q1 2017 | -0.8% | -1.5% | +9.6% | |
| Q4 2016 | -2.4% | -1.8% | +1.8% | |
| Q3 2016 | -2.2% | -1.6% | -4.5% | |
| Q2 2016 | +0.4% | +1.4% | +8.7% | |
| Q1 2016 | -1.3% | — | — | |
| Q4 2015 | +3.0% | — | — | |
| Q3 2015 | -0.8% | — | — | |
| Q2 2015 | +2.1% | — | — | |
| Q1 2015 | -1.2% | — | — | |
| Q4 2014 | +7.3% | — | — | |
| Q3 2014 | +0.8% | — | — | |
| Q2 2014 | +3.2% | — | — | |
| Q1 2014 | +3.5% | — | — | |
| Q4 2013 | -2.4% | — | — | |
| Q3 2013 | +2.1% | — | — | |
| Q2 2013 | +0.7% | — | — | |
| Q1 2013 | -0.6% | — | — | |
| Q4 2012 | +5.7% | — | — | |
| Q3 2012 | +0.5% | — | — | |
| Q2 2012 | +2.2% | — | — | |
| Q1 2012 | +0.8% | — | — | |
| Q4 2011 | +2.7% | — | — | |
| Q3 2011 | -4.2% | — | — | |
| Q2 2011 | +4.5% | — | — | |
| Q1 2011 | +0.8% | — | — | |
| Q4 2010 | +1.5% | — | — | |
| Q3 2010 | -0.3% | — | — | |
| Q2 2010 | -0.2% | — | — | |
| Q1 2010 | +0.5% | — | — | |
| Q3 2009 | — | — | — | |
| Q4 2009 | — | — | — |
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