WallStSmart

Progressive Corp (PGR)vsTaiwan Semiconductor Manufacturing (TSM)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Taiwan Semiconductor Manufacturing generates 4246% more annual revenue ($3.81T vs $87.64B). TSM leads profitability with a 45.1% profit margin vs 12.9%. TSM appears more attractively valued with a PEG of 1.17. TSM earns a higher WallStSmart Score of 82/100 (A-).

PGR

Strong Buy

67

out of 100

Grade: B-

Growth: 8.0Profit: 7.5Value: 7.3Quality: 5.3
Piotroski: 4/9

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

PGRUndervalued (+76.9%)

Margin of Safety

+76.9%

Fair Value

$900.43

Current Price

$202.84

$697.59 discount

UndervaluedFair: $900.43Overvalued
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

PGR5 strengths · Avg: 9.0/10
P/E RatioValuation
10.7x10/10

Attractively priced relative to earnings

Return on EquityProfitability
40.5%10/10

Every $100 of equity generates 41 in profit

Market CapQuality
$120.67B9/10

Large-cap with strong market position

EPS GrowthGrowth
25.2%8/10

Earnings expanding 25.2% YoY

Free Cash FlowQuality
$3.05B8/10

Generating 3.0B in free cash flow

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

PGR1 concerns · Avg: 2.0/10
PEG RatioValuation
31.572/10

Expensive relative to growth rate

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 : PGR

The strongest argument for PGR centers on P/E Ratio, Return on Equity, Market Cap. Revenue growth of 12.2% 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 : PGR

The primary concerns for PGR are PEG Ratio.

Bear Case : TSM

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

Key Dynamics to Monitor

PGR profiles as a value stock while TSM is a growth play — different risk/reward profiles.

TSM carries more volatility with a beta of 1.28 — 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 67/100), backed by strong 45.1% margins and 20.5% revenue growth. PGR offers better value entry with a 76.9% 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.

Progressive Corp

FINANCIAL SERVICES · INSURANCE - PROPERTY & CASUALTY · USA

The Progressive Corporation is an American insurance company, one of the largest providers of car insurance in the United States. The company insures motorcycles, boats, RVs, and commercial vehicles and provides home insurance through select companies.

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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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