WallStSmart

Adobe Systems Incorporated (ADBE)vsTaiwan Semiconductor Manufacturing (TSM)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Taiwan Semiconductor Manufacturing generates 15477% more annual revenue ($3.81T vs $24.45B). TSM leads profitability with a 45.1% profit margin vs 29.5%. ADBE appears more attractively valued with a PEG of 0.71. TSM earns a higher WallStSmart Score of 82/100 (A-).

ADBE

Strong Buy

74

out of 100

Grade: B

Growth: 6.7Profit: 10.0Value: 10.0Quality: 7.0
Piotroski: 4/9Altman Z: 4.35

TSM

Exceptional Buy

82

out of 100

Grade: A-

Growth: 8.7Profit: 10.0Value: 9.3Quality: 9.0
Piotroski: 6/9Altman Z: 3.86
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

ADBEUndervalued (+43.7%)

Margin of Safety

+43.7%

Fair Value

$421.20

Current Price

$237.25

$183.95 discount

UndervaluedFair: $421.20Overvalued
TSMUndervalued (+20.3%)

Margin of Safety

+20.3%

Fair Value

$483.91

Current Price

$347.75

$136.16 discount

UndervaluedFair: $483.91Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

ADBE6 strengths · Avg: 9.3/10
Return on EquityProfitability
58.8%10/10

Every $100 of equity generates 59 in profit

Operating MarginProfitability
37.8%10/10

Strong operational efficiency at 37.8%

Altman Z-ScoreHealth
4.3510/10

Safe zone — low bankruptcy risk

Market CapQuality
$98.06B9/10

Large-cap with strong market position

Profit MarginProfitability
29.5%9/10

Keeps 30 of every $100 in revenue as profit

PEG RatioValuation
0.718/10

Growing faster than its price suggests

TSM6 strengths · Avg: 10.0/10
Market CapQuality
$1.71T10/10

Mega-cap, among the largest globally

Return on EquityProfitability
35.1%10/10

Every $100 of equity generates 35 in profit

Profit MarginProfitability
45.1%10/10

Keeps 45 of every $100 in revenue as profit

Operating MarginProfitability
53.9%10/10

Strong operational efficiency at 53.9%

Free Cash FlowQuality
$388.17B10/10

Generating 388.2B in free cash flow

Altman Z-ScoreHealth
3.8610/10

Safe zone — low bankruptcy risk

Areas to Watch

ADBE1 concerns · Avg: 4.0/10
Price/BookValuation
8.5x4/10

Trading at 8.5x book value

TSM2 concerns · Avg: 3.0/10
P/E RatioValuation
31.8x4/10

Premium valuation, high expectations priced in

Price/BookValuation
52.9x2/10

Trading at 52.9x book value

Comparative Analysis Report

WallStSmart Research

Bull Case : ADBE

The strongest argument for ADBE centers on Return on Equity, Operating Margin, Altman Z-Score. Profitability is solid with margins at 29.5% and operating margin at 37.8%. Revenue growth of 12.0% demonstrates continued momentum.

Bull Case : TSM

The strongest argument for TSM centers on Market Cap, Return on Equity, Profit Margin. Profitability is solid with margins at 45.1% and operating margin at 53.9%. Revenue growth of 20.5% demonstrates continued momentum.

Bear Case : ADBE

The primary concerns for ADBE are Price/Book.

Bear Case : TSM

The primary concerns for TSM are P/E Ratio, Price/Book.

Key Dynamics to Monitor

ADBE profiles as a mature stock while TSM is a growth play — different risk/reward profiles.

ADBE carries more volatility with a beta of 1.53 — expect wider price swings.

TSM is growing revenue faster at 20.5% — sustainability is the question.

TSM generates stronger free cash flow (388.2B), providing more financial flexibility.

Bottom Line

TSM scores higher overall (82/100 vs 74/100), backed by strong 45.1% margins and 20.5% revenue growth. ADBE offers better value entry with a 43.7% margin of safety. Both earn "Exceptional Buy" and "Strong Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Adobe Systems Incorporated

TECHNOLOGY · SOFTWARE - APPLICATION · USA

Adobe Inc. is an American multinational computer software company. Incorporated in Delaware and headquartered in San Jose, California, it has historically specialized in software for the creation and publication of a wide range of content, including graphics, photography, illustration, animation, multimedia, motion pictures and print. The company has expanded into digital marketing management software. Adobe has millions of users worldwide. Flagship products include: Photoshop image editing software, Adobe Illustrator vector-based illustration software, Adobe Acrobat Reader and the Portable Document Format (PDF), plus a host of tools primarily for audio-visual content creation, editing and publishing.

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Taiwan Semiconductor Manufacturing

TECHNOLOGY · SEMICONDUCTORS · USA

Taiwan Semiconductor Manufacturing Company, Limited is a Taiwanese multinational semiconductor contract manufacturing and design company. It is one of Taiwan's largest companies, the world's most valuable semiconductor company, and the world's largest dedicated independent (pure-play) semiconductor foundry, with its headquarters and main operations located in the Hsinchu Science Park in Hsinchu, Taiwan. It is majority owned by foreign investors.

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