TSMC's revenue came to NT$1.3tn in 2026Q2, the highest of the twelve quarters in the data. That is 36.0% more than the same quarter a year earlier. The margin widened too, yet the stock did not outrun its rivals around the October call.
Sales are at a record, and still growing fast
TSMC held its third-quarter A three-month slice of a company's financial year. Companies report results for each one. earnings call on 15 October 2026. The quarterly statements in our data stop at 2026Q2, so the quarterly figures here describe that April-to-June quarter.
Data table
| period | revenue | yoy |
|---|---|---|
| 2023Q3 | NT$546.7bn | -10.8% |
| 2023Q4 | NT$625.5bn | -0.0% |
| 2024Q1 | NT$592.6bn | 16.5% |
| 2024Q2 | NT$673.5bn | 40.1% |
| 2024Q3 | NT$759.7bn | 39.0% |
| 2024Q4 | NT$868.5bn | 38.8% |
| 2025Q1 | NT$839.3bn | 41.6% |
| 2025Q2 | NT$933.8bn | 38.6% |
| 2025Q3 | NT$989.9bn | 30.3% |
| 2025Q4 | NT$1.0tn | 20.5% |
| 2026Q1 | NT$1.1tn | 35.1% |
| 2026Q2 | NT$1.3tn | 36.0% |
Revenue came in at NT$1.3tn in 2026Q2. That was 12.0% higher than the first quarter of the year. Growth against the same quarter a year earlier was 36.0%. That is a shade faster than the 35.1% in 2026Q1. Stretch the view back three years and revenue The money a company takes in from selling its products or services, before any costs are paid. has grown at 38.2% a year.
Not every month goes up, though. In September 2026, the newest month in the monthly data, sales were -0.6% against the month before. A record quarter can still contain a month that slips.
Glossary
- revenue
- The money a company takes in from selling its products or services, before any costs are paid.
- quarter
- A three-month slice of a company's financial year. Companies report results for each one.
More of each sale is staying with the company
Gross margin was 67.7% in 2026Q2. In the previous quarter it was 66.2%. That is 1.5 pp Short for percentage point. It is how we measure the move from one percentage to another. more in a single quarter. It is 9.1 pp above the same quarter a year earlier. Operating margin reached 60.3%. The gain on the quarter was 2.2 pp. The operating expense ratio moved by -0.8 pp, so overheads took a slightly smaller slice of each sale.
Glossary
- gross margin
- The share of each sale left after the direct cost of making the product. Higher is better.
- operating margin
- The share of each sale left after both production costs and running costs such as research and admin.
- pp
- Short for percentage point. It is how we measure the move from one percentage to another.
How much wider was TSMC's gross margin than in the same quarter a year earlier?
Actual9.1 pp
It is 9.1 pp above the same quarter a year earlier. For a factory business that already keeps two thirds of every sale, a jump that size in one year is unusual.
Show answer
9.1 pp It is 9.1 pp above the same quarter a year earlier. For a factory business that already keeps two thirds of every sale, a jump that size in one year is unusual.
The shares did not run away from the rivals
In the five trading days before the call, TSMC ran 5.9% ahead of a basket of its local rivals. The peer basket A group of similar companies averaged together, used as a yardstick for one company's share move. holds only 3 companies: UMC, Vanguard International Semiconductor and PSMC. On the day of the call, TSMC's move against that basket was -2.5%. Our data covers 6 trading days from the call onward, including the day itself. Across that stretch, the running gap was -0.5%. Prices move with many things at once, so read this as what happened in the same window, not as a verdict on the results.
Data table
| day | series | value | series_role |
|---|---|---|---|
| -5 | TSMC | -1.4% | target |
| -4 | TSMC | -1.7% | target |
| -3 | TSMC | -3.7% | target |
| -2 | TSMC | -3.7% | target |
| -1 | TSMC | -5.6% | target |
| 0 | TSMC | -6.4% | target |
| 1 | TSMC | -6.4% | target |
| 2 | TSMC | -7.0% | target |
| 3 | TSMC | -6.4% | target |
| 4 | TSMC | -7.7% | target |
| 5 | TSMC | -7.2% | target |
| -5 | Peer basket | -1.0% | peer |
| -4 | Peer basket | -2.8% | peer |
| -3 | Peer basket | -6.5% | peer |
| -2 | Peer basket | -4.6% | peer |
| -1 | Peer basket | -11.3% | peer |
| 0 | Peer basket | -9.8% | peer |
| 1 | Peer basket | -11.8% | peer |
| 2 | Peer basket | -14.0% | peer |
| 3 | Peer basket | -11.6% | peer |
| 4 | Peer basket | -13.1% | peer |
| 5 | Peer basket | -12.4% | peer |
| -5 | Cumulative abnormal return | -0.3% | neutral |
| -4 | Cumulative abnormal return | 1.1% | neutral |
| -3 | Cumulative abnormal return | 3.0% | neutral |
| -2 | Cumulative abnormal return | 0.9% | neutral |
| -1 | Cumulative abnormal return | 5.9% | neutral |
| 0 | Cumulative abnormal return | 3.4% | neutral |
| 1 | Cumulative abnormal return | 5.6% | neutral |
| 2 | Cumulative abnormal return | 7.4% | neutral |
| 3 | Cumulative abnormal return | 5.3% | neutral |
| 4 | Cumulative abnormal return | 5.5% | neutral |
| 5 | Cumulative abnormal return | 5.4% | neutral |
On valuation, buyers are paying up for TSMC rather than down. TSMC's trailing P/E The share price divided by the profit per share of the past year. It shows what buyers pay for a unit of recent profit. stood at 27.6x. The median of the three peers was 20.0x. That leaves TSMC at a premium of 38.2% to the group. So the price already asks more per unit of recent profit than a typical rival does.
Glossary
- peer basket
- A group of similar companies averaged together, used as a yardstick for one company's share move.
- trailing P/E
- The share price divided by the profit per share of the past year. It shows what buyers pay for a unit of recent profit.
Risks
- One-off items are not broken out in the data, so part of the quarter's strength is hard to check.
- Past guidance accuracy is absent from the data, so the raised full-year outlook is untested here.
- The peer basket holds only three smaller foundries, so the share comparison is thin.
Sources
- FinMind 財務報表 / 現金流量表 2330（原始來源：公開資訊觀測站） — data as of 2026-06-30; fetched 2026-11-05 18:25 UTC; License note: FinMind open data; original source MOPS (公開資訊觀測站)
- 臺灣證券交易所 個股日成交資訊 6770 — data as of 2026-10-30; fetched 2026-11-05 18:25 UTC
- 臺灣證券交易所 個股日成交資訊 2330 — data as of 2026-10-30; fetched 2026-11-05 18:24 UTC
- 臺灣證券交易所 個股日成交資訊 2303 — data as of 2026-10-30; fetched 2026-11-05 18:25 UTC
- 證券櫃檯買賣中心 個股日成交資訊 5347 — data as of 2026-10-30; fetched 2026-11-05 18:25 UTC