| Company Name: | Taiwan Semiconductor Manufacturing Company Limited | | Ticker Symbol: | TSM | | | WWW Address: | www.tsmc.com | | CEO: | Rick Tsai, Ph.D. | | No. of Employees: | 22,843 | | Common Issue Type: | AD | | Business Description: | The Company is engaged mainly in the manufacturing, selling, packaging, testing and computer-aided designing of integrated circuits and other semiconductor devices and the manufacturing of masks.
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| | | Industry Information: | ELECTRONICS - Semiconductor - Integrated Circuits [more like this] |
| | Price | Day Change | Bid | Ask | Open | High | Low | Volume | | 10.51 |  0.12 | 9.63 | 11.44 | 10.51 | 10.63 | 10.47 | 7806314 |
| Market Cap (mil) | Shares Outstanding (mil) | Beta | EPS | DPS | P/E | Yield | 52-Wks-Range |
| 53,589.4 | 5,098.9 | 1.03 | 0.58 | 0.40 | 17.1 | 3.4 | 12.00 - 6.03 |
| | KEY FIGURES (Latest Twelve Months - LTM) | | Yesterday's Close | 10.51 | $ | | PE Ratio - LTM | 17.1 | |
| Market Capitalisation | 269,285.0 | mil |
| Latest Shares Outstanding | 5,098.9 | mil |
| Earnings pS (EPS) | 0.58 | $ |
| Dividend pS (DPS) | 0.40 | ¢ |
| Dividend Yield | 3.4 | % |
| Dividend Payout Ratio | 68 | % |
| Revenue per Employee | 445,195 | $ |
| Effective Tax Rate | 9.8 | % |
| Float | 0.0 | mil |
| Float as % of Shares Outstanding | 0.0 | % |
| Foreign Sales | 5,909 | mil |
| Domestic Sales | 4,253 | mil |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 5.60 | % |
| Research & Devlopment (R&D) as % of Revenue | 7.70 | % |
| Gross Profit Margin | 81.7 | % |
| EBITDA Margin | 68.4 | % |
| Pre-Tax Profit Margin | 22.4 | % |
| Assets Turnover | 0.3 | % |
| Return on Assets (ROA) | 6.7 | % |
| Return on Equity (ROE) | 7.8 | % |
| Return on Capital Invested (ROCI) | 7.6 | % |
| Current Ratio | 4.4 | |
| Leverage Ratio (Assets/Equity) | 1.2 | |
| Interest Cover | 153.4 | |
| Total Debt/Equity (Gearing Ratio) | 0.03 | |
| LT Debt/Total Capital | 3.0 | % |
| Working Capital pS | 1.15 | $ |
| Cash pS | 0.96 | $ |
| Book-Value pS | 2.82 | $ |
| Tangible Book-Value pS | 2.75 | $ |
| Cash Flow pS | 0.71 | $ |
| Free Cash Flow pS | 0.16 | $ |
 |
| KEY FIGURES (LTM): Price info |
| Price/Book Ratio | 3.72 | |
| Price/Tangible Book Ratio | 3.82 | |
| Price/Cash Flow | 14.8 | |
| Price/Free Cash Flow | 65.0 | |
| P/E as % of Industry Group | 0.0 | % |
| P/E as % of Sector Segment | 0.0 | % |
| | | Balance Sheet (at a glance) in Millions |
| | | | | | DIVIDEND INFO | | Dividend Declared Date | 06/30/2009 |
| Dividend Ex-Date | 07/14/2009 |
| Dividend Record Date | 07/16/2009 |
| Dividend Pay Date | 08/13/2009 |
| Dividend Amount | 364 |
| Type of Payment | Cash Payment |
| Dividend Rate | 0.36 |
| Current Dividend Yield | 3.4 |
| 5-Y Average Dividend Yield | 3.5 |
| Payout Ratio | 68.0 |
| 5-Y Average Payout Ratio | 44.0 |
|  | | Share price performance previous 3 years |
|
 | | | Share price performance intraday |
|
 | | | | | PRICE/VOLUME | High | Low | Close | % Price Chg | % Price Chg vs. Mkt. | Avg. Daily Vol | Total Vol |
| 1 Week | - | - | - | 1.2 | 100 | 188,985 | 77,999 |
| 4 Weeks | 10.92 | 9.35 | 9.54 | 10.2 | 103 | 194,318 | 3,109,087 |
| 13 Weeks | 11.20 | 9.35 | 10.78 | -2.5 | 91 | 210,511 | 12,630,663 |
| 26 Weeks | 11.61 | 9.02 | 10.94 | -3.9 | 80 | 184,872 | 22,924,066 |
| 52 Weeks | 12.00 | 6.03 | 7.15 | 47.0 | 119 | 195,866 | 48,574,871 |
| YTD | 12.00 | 6.70 | - | 33.0 | 109 | 202,179 | 45,692,371 |
| Moving Average | 5-Days | 10-Days | 10-Weeks | 30-Weeks | 200-Days | Beta (60-Mnth) | Beta (36-Mnth) |
| 10.56 | 10.51 | 10.23 | 10.27 | 9.87 | 1.03 | 0.95 |
| | | | GROWTH RATES | 5-Year
Growh | R² of 5-Year Growth | 3-Year
Growth |
| Revenue | -1.68 | 2.1 | -12.81 |
| Income | 1.78 | 9.0 | -7.48 |
| Dividend | 0.00 | 0.0 | 6.80 |
| Capital Spending | 7.25 | NA | -7.92 |
| R&D | 5.94 | NA | 0.09 |
| Normalized Inc. | 2.55 | NA | -6.08 |
| | | CHANGES | YTD vs.
Last YTD | Curr Qtr vs.
Qtr 1-Yr ago | Annual vs.
Last Annual |
| Revenue % | -23.9 | -100.0 | 2.2 |
| Earnings % | -35.1 | -100.0 | -9.4 |
| EPS % | 194.7 | -100.0 | -10.3 |
| EPS $ | 0.23 | -0.04 | -0.07 |
| | | | SOLVENCY RATIOS | | SHORT-TERM SOLVENCY RATIOS (LIQUIDITY) |
| Net Working Capital Ratio | 35.03 |
| Current Ratio | 4.4 |
| Quick Ratio (Acid Test) | 4.0 |
| Liquidity Ratio (Cash) | 3.72 |
| Receivables Turnover | 10.8 |
| Average Collection Period | 33 |
| Working Capital/Equity | 41.1 |
| Working Capital pS | 1.16 |
| Cash-Flow pS | 1.08 |
| Free Cash-Flow pS | 0.51 |
| FINANCIAL STRUCTURE RATIOS |
| Altman's Z-Score Ratio | 66.25 |
| Financial Leverage Ratio (Assets/Equity) | 1.2 |
| Debt Ratio | 14.8 |
| Total Debt/Equity (Gearing Ratio) | 0.05 |
| LT Debt/Equity | 0.03 |
| LT Debt/Capital Invested | 5.2 |
| LT Debt/Total Liabilities | 19.6 |
| Interest Cover | 181.0 |
| Interest/Capital Invested | 0.12 |
| | | | VALUATION RATIOS | | MULTIPLES |
| PQ Ratio | 1.68 |
| Tobin's Q Ratio | 15.78 |
| Current P/E Ratio - LTM | 17.10 |
| Enterprise Value (EV)/EBITDA | 46.75 |
| Enterprise Value (EV)/Free Cash Flow | 104.61 |
| Dividend Yield | 3.4 |
| Price/Tangible Book Ratio - LTM | 3.82 |
| Price/Book Ratio - LTM | 3.72 |
| Price/Cash Flow Ratio | 14.8 |
| Price/Free Cash Flow Ratio - LTM | 65.0 |
| Price/Sales Ratio | 10.17 |
| P/E Ratio (1 month ago) - LTM | 16.4 |
| P/E Ratio (26 weeks ago) - LTM | 20.3 |
| P/E Ratio (52 weeks ago) - LTM | 15.5 |
| 5-Y High P/E Ratio | 20.5 |
| 5-Y Low P/E Ratio | 10.1 |
| 5-Y Average P/E Ratio | 15.0 |
| Current P/E Ratio as % of 5-Y Average P/E | 114 |
| P/E as % of Industry Group | 0.0 |
| P/E as % of Sector Segment | 0.0 |
| Current 12 Month Normalized P/E Ratio - LTM | 16.8 |
| PER SHARE FIGURES |
| LT Debt pS | 0.10 |
| Current Liabilities pS | 0.34 |
| Tangible Book Value pS - LTM | 2.75 |
| Book Value pS - LTM | 2.82 |
| Capital Invested pS | 2.95 |
| Cash pS - LTM | 0.96 |
| Cash Flow pS - LTM | 0.71 |
| Free Cash Flow pS - LTM | 0.16 |
| Earnings pS (EPS) | 0.58 |
| | | | OPERATING RATIOS | | PROFITABILITY RATIOS |
| Free Cash Flow Margin | 25.66 |
| Free Cash Flow Margin 5YEAR AVG | 17.55 |
| Net Profit Margin | 30.0 |
| Net Profit Margin - 5YEAR AVRG. | 34.8 |
| Equity Productivity | 0.70 |
| Return on Equity (ROE) | 21.0 |
| Return on Equity (ROE) - 5YEAR AVRG. | 22.5 |
| Capital Invested Productivity | 0.68 |
| Return on Capital Invested (ROCI) | 20.3 |
| Return on Capital Invested (ROCI) - 5YEAR AVRG. | 21.7 |
| Assets Productivity | 0.60 |
| Return on Assets (ROA) | 17.9 |
| Return on Assets (ROA) - 5YEAR AVRG. | 19.0 |
| Gross Profit Margin | 81.7 |
| Gross Profit Margin - 5YEAR AVRG. | 70.5 |
| EBITDA Margin - LTM | 68.4 |
| EBIT Margin - LTM | 22.5 |
| Pre-Tax Profit Margin | 33.5 |
| Pre-Tax Profit Margin - 5YEAR AVRG. | 36.9 |
| Effective Tax Rate | 9.8 |
| Effective Tax Rate - 5YEAR AVRG. | 5.1 |
| EFFICIENCY RATIOS |
| Cash Conversion Cycle | 84 |
| Revenue per Employee | 445,195 |
| Net Income per Employee | 133,542 |
| Average Collection Period | 20 |
| Receivables Turnover | 10.8 |
| Day's Inventory Turnover Ratio | 64 |
| Inventory Turnover | 5.6 |
| Inventory/Sales | 4.5 |
| Accounts Payble/Sales | 1.67 |
| Assets/Revenue | 1.67 |
| Net Working Capital Turnover | 1.70 |
| Fixed Assets Turnover | 1.09 |
| Total Assets Turnover | 0.6 |
| Revenue per $ Cash | 1.71 |
| Revenue per $ Plant | 1.37 |
| Revenue per $ Common Equity | 0.70 |
| Revenue per $ Capital Invested | 0.68 |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 4.8 |
| SG&A Expense as % of Revenue - 5YEAR AVRG. | 4.6 |
| Research & Devlopment (R&D) as % of Revenue | 6.4 |
| R&D Expense as % of Revenue - 5YEAR AVRG. | 6.4 |
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