TSMC(US:TSM) Zheng Quan Shi Bao Wang·2026-01-15 13:00Core Insights - TSMC reported a consolidated revenue of approximately NT$1,460.9 billion for Q4 2025, representing a year-on-year increase of 20.5% and a quarter-on-quarter increase of 1.9% [1] - The net profit after tax for the same quarter was approximately NT$505.7 billion, with earnings per share of NT$19.5, both showing a year-on-year increase of 35.0% and a quarter-on-quarter increase of 11.8% [1] - The gross margin was 62.3%, and the net profit margin was 48.3% [1] Revenue Breakdown - In Q4 2025, TSMC's revenue from advanced processes (including 7nm and more advanced processes) accounted for 77% of the total wafer sales revenue, with 3nm process shipments contributing 28%, 5nm contributing 35%, and 7nm contributing 14% [1] - High-performance computing (HPC) and smartphones accounted for 55% and 32% of revenue, respectively, while IoT, automotive, data communication equipment (DCE), and others contributed 5%, 5%, 1%, and 2% [2] Future Outlook - TSMC expects capital expenditures to rise to a record high of between $52 billion and $56 billion in 2026, following a total of $40.9 billion in capital expenditures for 2025 [2] - The company maintains over 90% market share in the AI chip market, which is expected to drive revenue growth [2] - According to Morgan Stanley, TSMC's revenue in 2026 is projected to grow by 30% year-on-year when measured in USD [3]