WallStSmart

Keysight Technologies Inc (KEYS)vsTaiwan Semiconductor Manufacturing (TSM)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Taiwan Semiconductor Manufacturing generates 66996% more annual revenue ($3.81T vs $5.68B). TSM leads profitability with a 45.1% profit margin vs 17.0%. TSM appears more attractively valued with a PEG of 1.16. TSM earns a higher WallStSmart Score of 82/100 (A-).

KEYS

Buy

64

out of 100

Grade: C+

Growth: 6.7Profit: 7.5Value: 4.7Quality: 6.5
Piotroski: 3/9Altman Z: 2.61

TSM

Exceptional Buy

82

out of 100

Grade: A-

Growth: 8.7Profit: 10.0Value: 6.0Quality: 9.0
Piotroski: 6/9Altman Z: 3.86
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

KEYSUndervalued (+10.6%)

Margin of Safety

+10.6%

Fair Value

$266.29

Current Price

$279.06

$12.77 discount

UndervaluedFair: $266.29Overvalued
TSMUndervalued (+20.4%)

Margin of Safety

+20.4%

Fair Value

$484.85

Current Price

$326.74

$158.11 discount

UndervaluedFair: $484.85Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

KEYS2 strengths · Avg: 9.0/10
EPS GrowthGrowth
68.0%10/10

Earnings expanding 68.0% YoY

Revenue GrowthGrowth
23.3%8/10

Revenue surging 23.3% year-over-year

TSM6 strengths · Avg: 10.0/10
Market CapQuality
$1.69T10/10

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

KEYS3 concerns · Avg: 3.0/10
PEG RatioValuation
1.664/10

Expensive relative to growth rate

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

P/E RatioValuation
49.0x2/10

Premium valuation, high expectations priced in

TSM2 concerns · Avg: 3.0/10
P/E RatioValuation
31.5x4/10

Premium valuation, high expectations priced in

Price/BookValuation
50.0x2/10

Trading at 50.0x book value

Comparative Analysis Report

WallStSmart Research

Bull Case : KEYS

The strongest argument for KEYS centers on EPS Growth, Revenue Growth. Profitability is solid with margins at 17.0% and operating margin at 16.3%. Revenue growth of 23.3% 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 : KEYS

The primary concerns for KEYS are PEG Ratio, Piotroski F-Score, P/E Ratio. A P/E of 49.0x leaves little room for execution misses.

Bear Case : TSM

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

Key Dynamics to Monitor

TSM carries more volatility with a beta of 1.28 — expect wider price swings.

KEYS is growing revenue faster at 23.3% — sustainability is the question.

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

Monitor SCIENTIFIC & TECHNICAL INSTRUMENTS industry trends, competitive dynamics, and regulatory changes.

Bottom Line

TSM scores higher overall (82/100 vs 64/100), backed by strong 45.1% margins and 20.5% revenue growth. Both earn "Exceptional Buy" and "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.

Keysight Technologies Inc

TECHNOLOGY · SCIENTIFIC & TECHNICAL INSTRUMENTS · USA

Keysight Technologies, or Keysight, is an American company that manufactures electronics test and measurement equipment and software.

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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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