WallStSmart

Taiwan Semiconductor Manufacturing (TSM)vsUltra Clean Holdings Inc (UCTT)

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Smart Verdict

WallStSmart Research — data-driven comparison

Taiwan Semiconductor Manufacturing generates 199701% more annual revenue ($4.10T vs $2.05B). TSM leads profitability with a 46.5% profit margin vs -8.8%. UCTT appears more attractively valued with a PEG of 1.17. TSM earns a higher WallStSmart Score of 84/100 (A-).

TSM

Exceptional Buy

84

out of 100

Grade: A-

Growth: 9.3Profit: 10.0Value: 6.7Quality: 9.0
Piotroski: 6/9Altman Z: 3.86

UCTT

Hold

37

out of 100

Grade: F

Growth: 2.0Profit: 3.0Value: 6.3Quality: 6.8
Piotroski: 2/9Altman Z: 2.12
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

TSMUndervalued (+72.4%)

Margin of Safety

+72.4%

Fair Value

$1399.41

Current Price

$396.06

$1003.35 discount

UndervaluedFair: $1399.41Overvalued
UCTTUndervalued (+22.6%)

Margin of Safety

+22.6%

Fair Value

$72.22

Current Price

$78.15

$5.93 discount

UndervaluedFair: $72.22Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

TSM6 strengths · Avg: 10.0/10
Market CapQuality
$2.04T10/10

Mega-cap, among the largest globally

Return on EquityProfitability
36.2%10/10

Every $100 of equity generates 36 in profit

Profit MarginProfitability
46.5%10/10

Keeps 47 of every $100 in revenue as profit

Operating MarginProfitability
58.1%10/10

Strong operational efficiency at 58.1%

Revenue GrowthGrowth
35.1%10/10

Revenue surging 35.1% year-over-year

EPS GrowthGrowth
58.4%10/10

Earnings expanding 58.4% YoY

UCTT0 strengths · Avg: 0/10

No standout strengths identified

Areas to Watch

TSM2 concerns · Avg: 3.0/10
P/E RatioValuation
33.7x4/10

Premium valuation, high expectations priced in

Price/BookValuation
60.6x2/10

Trading at 60.6x book value

UCTT4 concerns · Avg: 2.5/10
Operating MarginProfitability
2.1%3/10

Operating margin of 2.1%

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

Return on EquityProfitability
-20.0%2/10

ROE of -20.0% — below average capital efficiency

Revenue GrowthGrowth
-10.0%2/10

Revenue declined 10.0%

Comparative Analysis Report

WallStSmart Research

Bull Case : TSM

The strongest argument for TSM centers on Market Cap, Return on Equity, Profit Margin. Profitability is solid with margins at 46.5% and operating margin at 58.1%. Revenue growth of 35.1% demonstrates continued momentum.

Bull Case : UCTT

PEG of 1.17 suggests the stock is reasonably priced for its growth.

Bear Case : TSM

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

Bear Case : UCTT

The primary concerns for UCTT are Operating Margin, Piotroski F-Score, Return on Equity.

Key Dynamics to Monitor

TSM profiles as a growth stock while UCTT is a turnaround play — different risk/reward profiles.

UCTT carries more volatility with a beta of 1.81 — expect wider price swings.

TSM is growing revenue faster at 35.1% — sustainability is the question.

TSM generates stronger free cash flow (377.1B), providing more financial flexibility.

Bottom Line

TSM scores higher overall (84/100 vs 37/100), backed by strong 46.5% margins and 35.1% revenue growth. UCTT offers better value entry with a 22.6% margin of safety. Both earn "Exceptional Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

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

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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Ultra Clean Holdings Inc

TECHNOLOGY · SEMICONDUCTOR EQUIPMENT & MATERIALS · USA

Ultra Clean Holdings, Inc. designs, designs and manufactures production tools, modules and subsystems for the semiconductor and display capital equipment markets in the United States and internationally. The company is headquartered in Hayward, California.

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