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Taiwan Semiconductor Manufacturing (TSM) FY2024 earnings results (fiscal 2024)
20-F filed Apr 17, 2025
Taiwan Semiconductor Manufacturing (TSM) reported revenue of $2.89T for the fiscal 2024 (FY2024), +34% from a year earlier. Operating margin was 45.7%, net earnings $1.16T (40.0% of revenue).
Taiwan Semiconductor Manufacturing, FY2024: revenue $2.89T (+34% year over year), operating margin 45.7%, net earnings $1.16T, operating cash flow $1.83T. The chart follows the revenue to costs, profit and cash.
| FY2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.89T | — | +34% |
| Gross profit | $1.62T | — | +38% |
| Operating profit | $1.32T | — | +43% |
| Net earnings | $1.16T | — | +36% |
| Operating cash flow | $1.83T | — | +47% |
| Free cash flow | $870.2B | — | +198% |
What changed
Revenue was NT$2.89T in FY2024, up 34% year over year.
Gross margin was 56.1%, up 1.8 points from FY2023. Operating profit was NT$1.32T, a 45.7% margin (up 3.1 points year over year). Of the extra revenue versus FY2023, 55% reached operating profit, above the 43% margin then. Operating expenses grew 19% against revenue growth of 34%. The fastest-growing cost line was Other operating costs (+38%). Net earnings were NT$1.16T, up 36% year over year. The effective tax rate was 17.7%.
Operating cash flow was NT$1.83T (up 47% year over year), 158% of net earnings. Non-cash charges added back NT$1.2B of share-based compensation. Working capital and other items added NT$667.4B. Capital expenditures of NT$0.96T left free cash flow of NT$870.2B.
Questions
What was Taiwan Semiconductor Manufacturing's revenue in the fiscal 2024?
Taiwan Semiconductor Manufacturing (TSM) reported revenue of $2.89T for the fiscal 2024 (FY2024), +34% from a year earlier.
Was Taiwan Semiconductor Manufacturing profitable in the fiscal 2024?
Operating profit was $1.32T (45.7% of revenue) and net earnings $1.16T.
Source: Taiwan Semiconductor Manufacturing 20-F on SEC EDGAR.