Start with its own history
At 25.70×, TSM is 26.6% above its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · TSMSemiconductorsUpdated Nov 5, 2026
Taiwan Semiconductor Manufacturing Company Limited P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
25.70×
26.6% abovethe 10-year annual average
Share price395.75
÷Earnings per share15.4
Price and EPS in quote currency. Calculation details
Investors are paying 25.70 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 20.29×
3-year average21.84×3 positive annual observations
5-year average20.74×5 positive annual observations
10-year average20.29×10 positive annual observations
Peer median · TTM54.27×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 23.40× | -2.7% |
| Dec 31, 2024 | 24.06× | +33.3% |
| Dec 31, 2023 | 18.05× | +57.8% |
| Dec 31, 2022 | 11.44× | -57.2% |
| Dec 31, 2021 | 26.73× | +0.7% |
| Dec 31, 2020 | 26.54× | +6.8% |
| Dec 31, 2019 | 24.85× | +53.3% |
| Dec 31, 2018 | 16.21× | -7.8% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 17.57× | +24.8% |
| Dec 31, 2016 | 14.08× | +16.4% |
| Dec 31, 2015 | 12.10× | -12.7% |
| Dec 31, 2014 | 13.85× | -4.7% |
| Dec 31, 2013 | 14.53× | -6.5% |
| Dec 31, 2012 | 15.54× | +6.2% |
| Dec 31, 2011 | 14.63× | +34.8% |
| Dec 31, 2010 | 10.86× | -41.9% |
| Dec 31, 2009 | 18.70× | +62.5% |
| Dec 31, 2008 | 11.51× | -24.3% |
| Dec 31, 2007 | 15.19× | +9.0% |
| Dec 31, 2006 | 13.94× | -16.5% |
| Dec 31, 2005 | 16.70× | +31.4% |
| Dec 31, 2004 | 12.71× | -53.9% |
| Dec 31, 2003 | 27.55× | -26.5% |
| Dec 31, 2002 | 37.49× | -33.1% |
| Dec 31, 2001 | 56.00× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How TSM compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 TSM This stockTaiwan Semiconductor Manufacturing Company Limited | 25.70× |
 UMCUnited Microelectronics Corporation | 14.45× |
 688981.SSSemiconductor Manufacturing International Corporation | 131.58× |
 TSEMTower Semiconductor Ltd. | 47.74× |
 HHUSFHua Hong Semiconductor Limited | 145.80× |
 5347.TWOVanguard International Semiconductor Corporation | 26.75× |
 688249.SSNexchip Semiconductor Corporation | 113.96× |
 688396.SSChina Resources Microelectronics Limited | 60.81× |
 6770.TWPowerchip Semiconductor Manufacturing Corp. | 16.71× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does TSM’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 54.27×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take TSM into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("TSM", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 395.75 ÷ EPS 15.4 = 25.70×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 5, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
TSM P/E ratio: common questions
The essentials behind the numbers.
Taiwan Semiconductor Manufacturing Company Limited's current P/E is 25.70× based on the quote data last updated Nov 5, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.