Comprehensive Stock Comparison
Compare Taiwan Semiconductor Manufacturing Company Limited (TSM) vs GLOBALFOUNDRIES Inc. (GFS) vs United Microelectronics Corporation (UMC) vs Tower Semiconductor Ltd. (TSEM) vs SkyWater Technology, Inc. (SKYT) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | TSM | 33.0% revenue growth vs GFS's 0.6% |
| Value | TSM | Lower P/E (0.8x vs 12.1x) |
| Quality / Margins | TSM | 45.1% net margin vs GFS's 13.0% |
| Stability / Safety | UMC | Beta 0.75 vs SKYT's 2.28 |
| Dividends | UMC | 4.4% yield, vs TSM's 0.8% |
| Momentum (1Y) | SKYT | +215.8% vs GFS's +22.6% |
| Efficiency (ROA) | TSM | 21.8% ROA vs GFS's 5.2%, ROIC 42.7% vs 5.3% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Taiwan Semiconductor Manufacturing Company is the world's largest dedicated semiconductor foundry, manufacturing advanced chips for technology companies that design but don't produce their own silicon. It generates revenue primarily from wafer fabrication services — with high-performance computing and smartphone chips driving over 80% of sales — supplemented by packaging, testing, and mask-making services. Its competitive moat stems from unmatched manufacturing scale, technological leadership in advanced process nodes, and deep customer relationships that create switching costs for chip designers.
GLOBALFOUNDRIES is a semiconductor foundry that manufactures integrated circuits for other companies rather than designing its own chips. It generates revenue primarily from wafer fabrication services — including specialty technologies for automotive, IoT, and communications applications — with contract manufacturing fees from customers like AMD, Qualcomm, and Broadcom. Its competitive advantage lies in being one of the few pure-play foundries with advanced specialty process technologies, particularly in RF, analog, and power semiconductors where it avoids direct competition with TSMC and Samsung in leading-edge nodes.
United Microelectronics Corporation is a pure-play semiconductor wafer foundry that manufactures integrated circuits for other companies rather than designing its own chips. It generates revenue primarily from wafer fabrication services — accounting for the vast majority of sales — with additional income from mask tooling, design support, and testing services. Its competitive advantage lies in specialized manufacturing expertise in mature and specialty process technologies — particularly in areas like RFSOI, embedded memory, and high-voltage processes — where it maintains strong customer relationships and technical leadership.
Tower Semiconductor is an independent specialty semiconductor foundry that manufactures analog-intensive mixed-signal chips for customers who design but don't fabricate their own semiconductors. It generates revenue primarily from wafer fabrication services—charging customers for manufacturing their chip designs—with additional income from design enablement and process development services. The company's competitive advantage lies in its specialized expertise in analog and mixed-signal technologies—a niche where larger foundries often don't compete—and its long-term partnerships with customers in automotive, industrial, and medical markets.
SkyWater Technology is a specialized semiconductor foundry that provides custom development and manufacturing services for analog, mixed-signal, and specialty chips. It generates revenue primarily from engineering services and wafer manufacturing—roughly 60% from manufacturing and 40% from development services—serving aerospace, defense, automotive, and IoT markets. Its key advantage is being the only U.S.-owned and Department of Defense-accredited pure-play semiconductor foundry, offering trusted domestic manufacturing for sensitive applications.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 5 stocks. BestLagging
Financial Scorecard
TSM leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). UMC leads in 1 (Valuation Metrics). 2 tied.
Financial Metrics (TTM)
TSM is the larger business by revenue, generating $3.82T annually — 8637.4x SKYT's $442M. TSM is the more profitable business, keeping 45.1% of every revenue dollar as net income compared to GFS's 13.0%. On growth, SKYT holds the edge at +126.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | TSMTaiwan Semiconduc… | GFSGLOBALFOUNDRIES I… | UMCUnited Microelect… | TSEMTower Semiconduct… | SKYTSkyWater Technolo… |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $3.82T | $6.8B | $238.8B | $1.6B | $442M |
| EBITDAEarnings before interest/tax | $2.79T | $2.1B | $105.7B | $496M | $21M |
| Net IncomeAfter-tax profit | $1.72T | $885M | $48.9B | $220M | $119M |
| Free Cash FlowCash after capex | $1.02T | $1.0B | $50.1B | -$41M | -$53M |
| Gross MarginGross profit ÷ Revenue | +59.9% | +25.2% | +29.8% | +23.2% | +19.7% |
| Operating MarginEBIT ÷ Revenue | +50.8% | +11.7% | +19.0% | +12.4% | -0.6% |
| Net MarginNet income ÷ Revenue | +45.1% | +13.0% | +20.5% | +14.1% | +26.9% |
| FCF MarginFCF ÷ Revenue | +26.7% | +14.9% | +21.0% | -2.6% | -12.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +21.6% | 0.0% | -2.2% | +13.7% | +126.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +42.0% | +127.3% | +3.5% | +42.9% | -10.3% |
Valuation Metrics
At 12.1x trailing earnings, SKYT trades at a 81% valuation discount to TSEM's 64.4x P/E. Adjusting for growth (PEG ratio), UMC offers better value at 0.47x vs TSEM's 3.12x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | TSMTaiwan Semiconduc… | GFSGLOBALFOUNDRIES I… | UMCUnited Microelect… | TSEMTower Semiconduct… | SKYTSkyWater Technolo… |
|---|---|---|---|---|---|
| Market CapShares × price | $1.94T | $26.4B | $26.3B | $14.0B | $1.4B |
| Enterprise ValueMkt cap + debt − cash | $1.89T | $26.3B | $25.3B | $14.0B | $1.4B |
| Trailing P/EPrice ÷ TTM EPS | 35.15x | 29.91x | 19.63x | 64.37x | 12.07x |
| Forward P/EPrice ÷ next-FY EPS est. | 0.84x | 25.83x | 17.24x | 41.89x | — |
| PEG RatioP/E ÷ EPS growth rate | 1.27x | — | 0.47x | 3.12x | — |
| EV / EBITDAEnterprise value multiple | 22.35x | 12.44x | 7.66x | 28.09x | — |
| Price / SalesMarket cap ÷ Revenue | 15.85x | 3.89x | 3.47x | 8.97x | 3.23x |
| Price / BookPrice ÷ Book value/share | 11.20x | 2.21x | 2.16x | 4.88x | 7.33x |
| Price / FCFMarket cap ÷ FCF | 55.58x | 26.19x | 15.75x | — | — |
Profitability & Efficiency
SKYT delivers a 60.7% return on equity — every $100 of shareholder capital generates $61 in annual profit, vs $7 for GFS. SKYT carries lower financial leverage with a 0.03x debt-to-equity ratio, signaling a more conservative balance sheet compared to UMC's 0.21x. On the Piotroski fundamental quality scale (0–9), TSM scores 8/9 vs SKYT's 3/9, reflecting strong financial health.
| Metric | TSMTaiwan Semiconduc… | GFSGLOBALFOUNDRIES I… | UMCUnited Microelect… | TSEMTower Semiconduct… | SKYTSkyWater Technolo… |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | +31.6% | +7.4% | +12.9% | +7.6% | +60.7% |
| ROA (TTM)Return on assets | +21.8% | +5.2% | +8.4% | +6.6% | +16.2% |
| ROICReturn on invested capital | +42.7% | +5.3% | +9.7% | +5.4% | -1.3% |
| ROCEReturn on capital employed | +33.0% | +5.6% | +9.0% | +6.6% | -0.9% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 7 | 5 | 6 | 3 |
| Debt / EquityFinancial leverage | 0.18x | 0.14x | 0.21x | 0.06x | 0.03x |
| Net DebtTotal debt minus cash | -$1.77T | -$171M | -$32.3B | -$74M | -$17M |
| Cash & Equiv.Liquid assets | $2.76T | $1.8B | $110.7B | $235M | $23M |
| Total DebtShort + long-term debt | $990.4B | $1.6B | $78.3B | $162M | $6M |
| Interest CoverageEBIT ÷ Interest expense | 315.91x | — | 43.56x | — | 28.24x |
Total Returns (with DRIP)
A $10,000 investment in TSEM five years ago would be worth $40,754 today (with dividends reinvested), compared to $10,248 for GFS. Over the past 12 months, SKYT leads with a +215.8% total return vs GFS's +22.6%. The 3-year compound annual growth rate (CAGR) favors TSM at 63.5% vs GFS's -10.1% — a key indicator of consistent wealth creation.
| Metric | TSMTaiwan Semiconduc… | GFSGLOBALFOUNDRIES I… | UMCUnited Microelect… | TSEMTower Semiconduct… | SKYTSkyWater Technolo… |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | +17.2% | +29.0% | +33.2% | +2.6% | +31.3% |
| 1-Year ReturnPast 12 months | +108.8% | +22.6% | +69.4% | +193.8% | +215.8% |
| 3-Year ReturnCumulative with dividends | +336.8% | -27.2% | +47.3% | +207.9% | +124.4% |
| 5-Year ReturnCumulative with dividends | +196.8% | +2.5% | +27.0% | +307.5% | +66.1% |
| 10-Year ReturnCumulative with dividends | +1552.1% | +2.5% | +542.2% | +817.5% | +66.1% |
| CAGR (3Y)Annualised 3-year return | +63.5% | -10.1% | +13.8% | +45.5% | +30.9% |
Risk & Volatility
UMC is the less volatile stock with a 0.75 beta — it tends to amplify market swings less than SKYT's 2.28 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. TSM currently trades 96.0% from its 52-week high vs SKYT's 81.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | TSMTaiwan Semiconduc… | GFSGLOBALFOUNDRIES I… | UMCUnited Microelect… | TSEMTower Semiconduct… | SKYTSkyWater Technolo… |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.44x | 1.60x | 0.75x | 1.73x | 2.28x |
| 52-Week HighHighest price in past year | $390.20 | $50.98 | $12.68 | $149.57 | $36.27 |
| 52-Week LowLowest price in past year | $134.25 | $29.77 | $5.71 | $28.64 | $5.67 |
| % of 52W HighCurrent price vs 52-week peak | +96.0% | +93.3% | +82.3% | +83.5% | +81.2% |
| RSI (14)Momentum oscillator 0–100 | 62.8 | 56.2 | 52.4 | 44.6 | 58.3 |
| Avg Volume (50D)Average daily shares traded | 11.1M | 3.3M | 9.7M | 1.6M | 2.3M |
Analyst Outlook
Analyst consensus: TSM as "Buy", GFS as "Buy", UMC as "Hold", TSEM as "Buy", SKYT as "Hold". Consensus price targets imply 23.3% upside for TSEM (target: $154) vs -17.6% for UMC (target: $9). For income investors, UMC offers the higher dividend yield at 4.40% vs TSM's 0.77%.
| Metric | TSMTaiwan Semiconduc… | GFSGLOBALFOUNDRIES I… | UMCUnited Microelect… | TSEMTower Semiconduct… | SKYTSkyWater Technolo… |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Hold | Buy | Hold |
| Price TargetConsensus 12-month target | $408.00 | $51.14 | $8.60 | $154.00 | $35.00 |
| # AnalystsCovering analysts | 23 | 19 | 15 | 14 | 6 |
| Dividend YieldAnnual dividend ÷ price | +0.8% | — | +4.4% | — | — |
| Dividend StreakConsecutive years of raises | 5 | — | 0 | 2 | 2 |
| Dividend / ShareAnnual DPS | $90.94 | — | $14.41 | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Nov 21 | Feb 26 | Change |
|---|---|---|---|
| Taiwan Semiconducto… (TSM) | 100 | 299.12 | +199.1% |
| GLOBALFOUNDRIES Inc. (GFS) | 116.1 | 90.91 | -21.7% |
| United Microelectro… (UMC) | 100 | 97 | -3.0% |
| Tower Semiconductor… (TSEM) | 100 | 409.97 | +310.0% |
| SkyWater Technology… (SKYT) | 100 | 91.47 | -8.5% |
Tower Semiconductor… (TSEM) returned +308% over 5 years vs GLOBALFOUNDRIES Inc. (GFS)'s +2%. A $10,000 investment in TSEM 5 years ago would be worth $40,754 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Taiwan Semiconducto… (TSM) | $947.9B | $3.8T | +306.0% |
| GLOBALFOUNDRIES Inc. (GFS) | $5.8B | $6.8B | +16.8% |
| United Microelectro… (UMC) | $147.9B | $237.6B | +60.6% |
| Tower Semiconductor… (TSEM) | $1.2B | $1.6B | +25.3% |
| SkyWater Technology… (SKYT) | $132M | $442M | +234.5% |
Taiwan Semiconductor Manufacturing Company Limited's revenue grew from $947.9B (2016) to $3.8T (2025) — a 16.8% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Taiwan Semiconducto… (TSM) | 35.0% | 45.1% | +28.9% |
| GLOBALFOUNDRIES Inc. (GFS) | -23.6% | 13.0% | +155.2% |
| United Microelectro… (UMC) | 5.8% | 17.6% | +201.2% |
| Tower Semiconductor… (TSEM) | 16.3% | 14.1% | -13.7% |
| SkyWater Technology… (SKYT) | -0.0% | 26.9% | +54765.4% |
Taiwan Semiconductor Manufacturing Company Limited's net margin went from 35% (2016) to 45% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Taiwan Semiconducto… (TSM) | 0.6 | 0.9 | +50.0% |
| GLOBALFOUNDRIES Inc. (GFS) | 20.6 | 22 | +6.8% |
| United Microelectro… (UMC) | 0.6 | 0.5 | -16.7% |
| Tower Semiconductor… (TSEM) | 11.8 | 60.5 | +412.7% |
Taiwan Semiconductor Manufacturing Company Limited has traded in a 0x–1x P/E range over 9 years; current trailing P/E is ~35x. GLOBALFOUNDRIES Inc. has traded in a 21x–33x P/E range over 3 years; current trailing P/E is ~30x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Taiwan Semiconducto… (TSM) | 63.95 | 334.65 | +423.3% |
| GLOBALFOUNDRIES Inc. (GFS) | -2.66 | 1.59 | +159.8% |
| United Microelectro… (UMC) | 3.35 | 16.7 | +398.5% |
| Tower Semiconductor… (TSEM) | 2.09 | 1.94 | -7.2% |
| SkyWater Technology… (SKYT) | -0 | 2.44 | +143629.4% |
Taiwan Semiconductor Manufacturing Company Limited's EPS grew from $63.95 (2016) to $334.65 (2025) — a 20% CAGR.
Chart 6Free Cash Flow — 5 Years
Taiwan Semiconductor Manufacturing Company Limited generated $1.1T FCF in 2025 (+318% vs 2021). GLOBALFOUNDRIES Inc. generated $1B FCF in 2025 (-6% vs 2021).
TSM vs GFS vs UMC vs TSEM vs SKYT: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is TSM or GFS or UMC or TSEM or SKYT a better buy right now?
SkyWater Technology, Inc. (SKYT) offers the better valuation at 12.1x trailing P/E, making it the more compelling value choice. Analysts rate Taiwan Semiconductor Manufacturing Company Limited (TSM) a "Buy" — based on 23 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — TSM or GFS or UMC or TSEM or SKYT?
On trailing P/E, SkyWater Technology, Inc. (SKYT) is the cheapest at 12.1x versus Tower Semiconductor Ltd. at 64.4x. On forward P/E, Taiwan Semiconductor Manufacturing Company Limited is actually cheaper at 0.8x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Taiwan Semiconductor Manufacturing Company Limited wins at 0.03x versus Tower Semiconductor Ltd.'s 2.03x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — TSM or GFS or UMC or TSEM or SKYT?
Over the past 5 years, Tower Semiconductor Ltd. (TSEM) delivered a total return of +307.5%, compared to +2.5% for GLOBALFOUNDRIES Inc. (GFS). A $10,000 investment in TSEM five years ago would be worth approximately $41K today (assuming dividends reinvested). Over 10 years, the gap is even starker: TSM returned +1552% versus GFS's +2.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — TSM or GFS or UMC or TSEM or SKYT?
By beta (market sensitivity over 5 years), United Microelectronics Corporation (UMC) is the lower-risk stock at 0.75β versus SkyWater Technology, Inc.'s 2.28β — meaning SKYT is approximately 202% more volatile than UMC relative to the S&P 500. On balance sheet safety, SkyWater Technology, Inc. (SKYT) carries a lower debt/equity ratio of 3% versus 21% for United Microelectronics Corporation — giving it more financial flexibility in a downturn.
05Which has better profit margins — TSM or GFS or UMC or TSEM or SKYT?
Taiwan Semiconductor Manufacturing Company Limited (TSM) is the more profitable company, earning 45.1% net margin versus 13.0% for GLOBALFOUNDRIES Inc. — meaning it keeps 45.1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: TSM leads at 50.8% versus -0.6% for SKYT. At the gross margin level — before operating expenses — TSM leads at 59.9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is TSM or GFS or UMC or TSEM or SKYT more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Taiwan Semiconductor Manufacturing Company Limited (TSM) is the more undervalued stock at a PEG of 0.03x versus Tower Semiconductor Ltd.'s 2.03x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Taiwan Semiconductor Manufacturing Company Limited (TSM) trades at 0.8x forward P/E versus 41.9x for Tower Semiconductor Ltd. — 41.0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for TSEM: 23.3% to $154.00.
07Which pays a better dividend — TSM or GFS or UMC or TSEM or SKYT?
In this comparison, UMC (4.4% yield), TSM (0.8% yield) pay a dividend. GFS, TSEM, SKYT do not pay a meaningful dividend and should not be held primarily for income.
08Is TSM or GFS or UMC or TSEM or SKYT better for a retirement portfolio?
For long-horizon retirement investors, Taiwan Semiconductor Manufacturing Company Limited (TSM) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (0.8% yield, +1552% 10Y return). SkyWater Technology, Inc. (SKYT) carries a higher beta of 2.28 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (TSM: +1552%, SKYT: +66.1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between TSM and GFS and UMC and TSEM and SKYT?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: TSM is a mega-cap quality compounder stock; GFS is a mid-cap quality compounder stock; UMC is a mid-cap income-oriented stock; TSEM is a mid-cap quality compounder stock; SKYT is a small-cap deep-value stock. TSM, UMC pay a dividend while GFS, TSEM, SKYT do not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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