WallStSmart

Tower Semiconductor Ltd (TSEM)vsTaiwan Semiconductor Manufacturing (TSM)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Taiwan Semiconductor Manufacturing generates 243118% more annual revenue ($3.81T vs $1.57B). TSM leads profitability with a 45.1% profit margin vs 14.1%. TSM appears more attractively valued with a PEG of 1.17. TSM earns a higher WallStSmart Score of 82/100 (A-).

TSEM

Buy

52

out of 100

Grade: C-

Growth: 6.0Profit: 6.0Value: 2.0Quality: 7.8
Piotroski: 5/9Altman Z: 5.20

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

TSEMSignificantly Overvalued (-48.1%)

Margin of Safety

-48.1%

Fair Value

$90.79

Current Price

$188.74

$97.95 premium

UndervaluedFair: $90.79Overvalued
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

TSEM2 strengths · Avg: 9.0/10
Altman Z-ScoreHealth
5.2010/10

Safe zone — low bankruptcy risk

EPS GrowthGrowth
42.6%8/10

Earnings expanding 42.6% YoY

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

TSEM4 concerns · Avg: 2.3/10
Return on EquityProfitability
7.9%3/10

ROE of 7.9% — below average capital efficiency

PEG RatioValuation
4.352/10

Expensive relative to growth rate

P/E RatioValuation
93.2x2/10

Premium valuation, high expectations priced in

Free Cash FlowQuality
$-75.33M2/10

Negative free cash flow — burning cash

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 : TSEM

The strongest argument for TSEM centers on Altman Z-Score, EPS Growth. Revenue growth of 13.7% 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 : TSEM

The primary concerns for TSEM are Return on Equity, PEG Ratio, P/E Ratio. A P/E of 93.2x leaves little room for execution misses.

Bear Case : TSM

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

Key Dynamics to Monitor

TSEM 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 52/100), 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.

Tower Semiconductor Ltd

TECHNOLOGY · SEMICONDUCTORS · USA

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets mixed-signal intensive analog semiconductor devices in the United States, Japan, Asia and Europe. The company is headquartered in Migdal Haemek, Israel.

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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