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TSM Latest Report

Earnings AnalystThursday, Jan 16, 2025 9:25 am ET

1min read

INTC -- TSM --

Performance Review

TSMC's total operating revenue in 2024 was US$868.461 billion, up 38.88% from US$625.529 billion in 2023. This significant growth indicates the company's strong sales performance in the market, possibly driven by new product releases, increased market demand, or an expanded customer base.

Key Data in the Financial Report

1. The 38.88% growth in total operating revenue shows strong market demand and product competitiveness.

2. The recovery of the smartphone market and the surge in demand for the AI field are the main driving factors.

3. HPC business accounts for 51% of total revenue, indicating TSMC's leadership in the high-performance computing market.

4. Capital expenditure is expected to be slightly above US$30 billion, with 70%-80% going towards advanced process technologies, showing continuous investment in technological research and development.

Peer Comparison

1. Industry-wide analysis: The semiconductor industry performed strongly in 2024, with a projected year-on-year growth rate of operating revenue ranging from 20% to 30% in general. Intensified competition within the industry, but overall revenue levels still rose due to technological advancements and market demand, reflecting the global demand for semiconductor products, especially in high-tech applications.

2. Peer evaluation analysis: Compared to other major semiconductor companies in the industry, TSMC's growth in total operating revenue is more pronounced, while competitors such as Intel and Samsung have lower growth rates, possibly due to technological transitions or lost market share. TSMC's strong performance further solidifies its leadership in the global semiconductor foundry market.

Summary

This analysis indicates that TSMC's significant growth in total operating revenue is mainly driven by the strong recovery of market demand and its outstanding performance in the high-performance computing field. In addition, the company's continuous technological investment and customer base expansion also provide strong support for revenue growth.

Opportunities

1. With the development of AI and 5G technologies, the future demand for high-performance computing chips will further increase, providing TSMC with good market opportunities.

2. TSMC's continuous investment in advanced process technologies will enhance its product competitiveness, helping to attract more high-end customers.

3. The global economic recovery and the warming of consumer electronics demand will further drive TSMC's operating revenue growth.

Risks

1. Intensified competition in the semiconductor industry may affect TSMC's market share, especially in the high-end market.

2. Global economic uncertainty and changes in trade policies may affect the company's external market environment.

3. Rapid changes in technology updates require continuous investment in research and development, or the company may fall behind its competitors.

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