Taiwan Semiconductor Manufacturing Company Limited (TSM) quarterly cash flow statement — complete operating, investing & financing history
Taiwan Semiconductor Manufacturing Company Limited (TSM) cash flow statement — 29-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 783.37B | 731.5B | 741.73B | 426.83B | 497.06B | 625.57B | 620.21B | 391.99B | 377.67B | 436.31B | 404.33B | 294.65B | 167.25B | 385.24B | 486.88B | 412.7B | 338.85B | 372.17B | 378.2B | 318.71B |
| Operating CF Margin % | 61.66% | 64.5% | 70.24% | 43.12% | 53.23% | 74.54% | 71.41% | 51.6% | 56.07% | 73.62% | 64.64% | 53.89% | 34.78% | 75.74% | 77.83% | 67.31% | 63.44% | 75.79% | 86.29% | 76.86% |
| Operating CF Growth % | 57.6% | 16.93% | 19.59% | 8.89% | 31.61% | 43.38% | 53.39% | 33.04% | 125.81% | 13.26% | -16.95% | -28.61% | -50.64% | 3.51% | 28.74% | 29.49% | 80.78% | 63.36% | 45.95% | 67.59% |
| Net Income | 706.78B | 578.4B | 510.52B | 525.37B | 493.04B | 361.56B | 374.68B | 325.26B | 306.31B | 266.54B | 238.71B | 241.94B | 181.8B | 244.27B | 334.55B | 316.69B | 266B | 226.83B | 184.82B | 173.85B |
| Depreciation & Amortization | 198.54B | 167.16B | 163.64B | 162.79B | 188.06B | 0 | 170.38B | 168.23B | 165.17B | 159.02B | 150.65B | 147.28B | 122.63B | 110.32B | 107.58B | 105.35B | 113.22B | 111.1B | 110.66B | 107.03B |
| Stock-Based Compensation | 0 | 0 | 0 | 273.42M | 344.41M | 0 | 396.7M | 322.96M | 230.96M | 181.83M | 127.3M | 127.35M | 127.58M | 100.77M | 80.31M | 80.29M | 114.35M | 27.45M | 1.79M | 2.61M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -265.91B | 1.08B | 60.57B | 0 | 0 | 0 | 0 | 0 | 0 | -30.73B |
| Other Non-Cash Items | -34.01B | 138.59B | 92.7B | -152.99B | -171.26B | 230.78B | 57.84B | -52.28B | -104.6B | -13.55B | 256.61B | -12.75B | -137.17B | -13.45B | -10.83B | -20.83B | -62.79B | 907.32M | -1.24B | -3.53B |
| Working Capital Changes | -87.95B | -152.65B | -25.14B | -108.61B | -13.11B | 33.22B | 16.91B | -49.54B | 10.56B | 24.11B | 24.14B | -83.02B | -60.71B | 44B | 55.49B | 11.41B | 22.3B | 33.3B | 83.96B | 72.09B |
| Change in Receivables | 0 | 0 | 0 | -72.18B | 8.25B | 29B | -21.11B | -40.45B | -8.24B | -48.82M | 20.9B | -12.36B | -42.45B | 83.28B | 30.21B | -39.45B | -8.68B | -15.12B | -11.28B | -8.89B |
| Change in Inventory | 0 | 0 | 0 | 15.5B | -10.81B | -5.52B | 5.02B | -20.39B | -5.37B | -16.13B | 11.09B | -27.76B | -18.26B | 5.08B | -2.81B | -897.78M | -17.32B | -7.02B | -10.87B | -11.8B |
| Change in Payables | 0 | 0 | 0 | 929.98M | 7.86B | 0 | 0 | 0 | 6.34B | 316.95M | 3.52B | 4.36B | 1.49B | -8.58B | -5.27B | 2.12B | 9.37B | 1.37B | 0 | 2.01B |
| Cash from Investing | -492.81B | -388.62B | -389.67B | -259.75B | -228.49B | -290.19B | -311.92B | -195.51B | -197.61B | -159.81B | -147.25B | -242.24B | -259.33B | -272.23B | -342.53B | -284.39B | -275.93B | -288.07B | -245.34B | -177.02B |
| Capital Expenditures | -496B | -354.39B | -353.56B | -287.46B | -297.23B | -330.83B | -361.95B | -215.01B | -205.67B | -183.36B | -124.76B | -227.81B | -250.53B | -302.8B | -336.8B | -267.64B | -220.95B | -262.72B | -235.56B | -188.64B |
| CapEx % of Revenue | 39.04% | 31.25% | 33.48% | 29.04% | 31.83% | 39.42% | 41.68% | 28.3% | 30.54% | 30.94% | 19.94% | 41.67% | 52.1% | 59.53% | 53.84% | 43.65% | 41.36% | 53.5% | 53.75% | 45.49% |
| Acquisitions | 0 | 1.83B | 484.69M | 0 | 0 | 0 | 0 | -6.39B | -26.11M | 7.06B | -20.44B | 15.94B | 15.35B | 1.84B | -281.3M | 416.39M | 11.9B | 0 | 1.7B | 3.47B |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 40.16B | -5.43B | -5.51B | 28.88B | 57.01B | 57.49B | 70.5B | 45.84B | 26.7B | 12.06B | 1.09B | 9.2B | 5.19B | 12.55B | 14.04B | 7.36B | -8.27B | 842.78M | -3.11B | -925M |
| Cash from Financing | -184.65B | -118.37B | -100.93B | -128.29B | -119.7B | -84.67B | -100.73B | -83.64B | -90.24B | -71.69B | -69.37B | -38.45B | -26.59B | -64.49B | -69.83B | -130.41B | 19.08B | -19.09B | 82.28B | -35.32B |
| Debt Issued (Net) | -21.99B | 13.99B | 35.74B | -7.55B | 2.66B | 19.98B | 5.07B | 10.47B | 10.26B | 1.39B | 8.57B | 28.85B | 47.23B | 8.71B | 7.14B | 59.01B | 82.26B | 49.61B | 155.07B | 31.06B |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | -23K | 177K | -3.09B | 0 | 0 | 0 | 0 | 0 | -34K | 0 | 0 | -871.57M | 0 | 0 |
| Dividends Paid | -155.59B | -131B | -128.41B | -116.7B | -116.7B | -103.72B | -103.73B | -90.76B | -90.76B | -77.8B | -77.8B | -71.31B | -71.31B | -71.31B | -71.31B | -71.31B | -71.31B | -71.31B | -71.31B | -64.83B |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | -23K | 177K | -3.09B | 0 | 0 | 0 | 0 | 0 | -34K | 0 | 0 | -871.57M | 0 | 0 |
| Other Financing | -7.07B | -1.36B | -8.26B | -4.05B | -5.66B | -930.24M | -2.07B | -3.35B | -6.65B | 4.72B | -143.82M | 4.01B | -2.51B | -1.89B | -5.67B | -118.1B | 8.13B | 3.49B | -1.48B | -1.56B |
| Net Change in Cash | 98.58B | 219.33B | 220.07B | 106.23B | -30.28B | 267.17B | 240.85B | 87.65B | 100.93B | 232.77B | 153.62B | 35.08B | -108.51B | 42.42B | 46.8B | 42.82B | 101.6B | 86.6B | 211.18B | 105.83B |
| Free Cash Flow | 287.36B | 377.11B | 388.17B | 139.38B | 197.5B | 294.74B | 258.26B | 184.09B | 171.99B | 255.01B | 279.57B | 66.84B | -83.29B | 82.44B | 150.08B | 145.06B | 117.9B | 109.45B | 142.64B | 130.07B |
| FCF Margin % | 22.62% | 33.25% | 36.76% | 14.08% | 21.15% | 35.12% | 29.74% | 24.23% | 25.54% | 43.03% | 44.69% | 12.22% | -17.32% | 16.21% | 23.99% | 23.66% | 22.07% | 22.29% | 32.55% | 31.37% |
| FCF Growth % | 45.5% | 27.95% | 50.31% | -24.29% | 14.83% | 15.58% | -7.62% | 175.42% | 306.51% | 209.32% | 86.28% | -53.92% | -170.64% | -24.68% | 5.21% | 11.53% | 596.61% | 597.65% | -15.9% | 47.05% |
| FCF per Share | 55.41 | 72.71 | 74.84 | 26.88 | 38.09 | 56.84 | 49.81 | 35.50 | 33.16 | 49.17 | 53.90 | 12.89 | -16.06 | 15.90 | 28.94 | 27.97 | 22.74 | 21.11 | 27.51 | 25.08 |
| FCF Conversion (FCF/Net Income) | 1.11x | 1.28x | 1.45x | 0.94x | 1.25x | 1.73x | 1.72x | 1.21x | 1.52x | 1.93x | 1.69x | 1.40x | 0.92x | 1.86x | 1.79x | 1.47x | 1.43x | 1.84x | 2.33x | 2.04x |
| Interest Paid | 7.14B | 0 | 0 | 4.04B | 0 | 0 | 5.95B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 188.22B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |