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Tower Semiconductor Ltd.

TSEM Technology Semiconductors

Tower Semiconductor Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $1.6 billion, up 9.05% from fiscal 2024. In the quarter to June 2026, revenue grew 23.7%, EPS grew 90.5%, free cash flow fell 180.7% and total debt fell 19.5%, each against the same quarter a year earlier.

195.58 14.22 −6.78%
Market cap
$23.8B
P/E
76.1×
Fwd P/E
79.0×
Dividend yield
—
F-score
6/9
Altman Z
20.45
Beneish M
−1.37
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 60.01
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — 1 1 1 —
Insider Ownership 7.00%

Capital & Financial Ratios $m

Market Cap 23,820.00
Revenue 1,709.58
Net Income 291.69
Free Cash Flow 308.47
Net Debt (1,339.72)
Current Ratio 4.91 (at or above 1.5: strong)
Debt/Equity 0.05 (at or below 0.5: strong)
P/E ratio 76.10 (above 35: high)
Fwd P/E 79.00 (above 35: high)
P/S ratio 12.92 (above 10: high)
P/B ratio 7.19 (above 6: high)
Past 5Y EPS Growth 20.61% (at or above 15%: strong)
This Y EPS Growth 69.97% (at or above 15%: strong)
Next Y EPS Growth 75.24% (at or above 15%: strong)
Next Y revenue growth 26.11% (at or above 10%: strong)
Next 5Y EPS Growth 66.08% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 12.1×, against a ten-year median of 2.0×; over the ten years it ranged from 0.9× in 2018 to 16.9× in 2026.
P/E against its own 10 years 94.61%
10-year low 10-year high
P/S against its own 10 years 94.99%
10-year low 10-year high
P/B against its own 10 years 85.15%
10-year low 10-year high
EV/Sales against its own 10 years 94.99%
10-year low 10-year high
EV/FCF against its own 10 years 82.89%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,236 1,218 1,152 1,481
Receivables 154 212 223 203
Inventory 283 268 257 244
Other 36 62 78 57
1,709 1,760 1,710 1,986
2023 2024 2025 Q'26
Payables 139 131 124 123
ST’ Debt 59 48 28 17
Other 9 19 16 89
277 285 264 404

Compound Annual Growth %

10y 5y 3y
Sales 5.01% 4.35% (2.27%)
Cash Flow 8.79% 7.42% (9.29%)
Earnings 0.00% 21.78% (5.90%)
Book Value 22.38% 14.83% 15.43%

Revenue $m

Mar Jun Sep Dec Year
’26 414 460 — — —
’25 358 372 396 440 1,566
’24 327 351 371 387 1,436
’23 356 357 358 352 1,423
’22 421 426 427 403 1,678
’21 347 362 387 412 1,508
’20 300 310 310 345 1,266
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 510 177 — — —
’25 94 123 139 40 395
’24 110 113 125 101 449
’23 73 75 101 677 677
’22 137 138 33 530 530
’21 87 93 107 134 421
’20 68 67 69 73 277
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 354 (10) — — —
’25 (17) 12 32 (68) (41)
’24 12 0 33 (28) 17
’23 (33) (14) 101 244 257
’22 56 89 33 316 316
’21 38 37 19 48 140
’20 5 4 2 9 19
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.57 0.79 — — —
’25 0.35 0.41 0.47 0.70 1.94
’24 0.40 0.48 0.49 0.49 1.85
’23 0.64 0.46 3.07 0.48 4.66
’22 0.49 0.53 0.62 0.75 2.39
’21 0.26 0.28 0.36 0.47 1.37
’20 0.16 0.18 0.14 0.28 0.76
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 10.36 19.02 13.56 13.57 12.13 24.81 31.04 21.43 28.02 28.64

Analyst estimates 2026–2028

Powerpack
High 20.04 36.69 36.08 25.15 27.28 40.45 49.13 45.87 54.27 129.58
People
People Employees 5,552 5,641 5,586 5,279 5,511 5,887 5,613 5,215 5,359 5,316
Revenue/emp, $m 0.23 0.25 0.23 0.23 0.23 0.26 0.30 0.27 0.27 0.29
Income, $m
Income, $m Revenue 1,250 1,387 1,304 1,234 1,266 1,508 1,678 1,423 1,436 1,566
Gross margin, % 24.26 25.54 22.46 18.61 18.43 21.82 27.80 24.85 23.64 23.23
EBT 211 202 139 91 89 155 292 585 217 240
EBT margin, % 16.85 14.54 10.68 7.38 7.01 10.28 17.40 41.11 15.14 15.35
Net income 209 302 133 88 83 154 266 520 207 219
Depreciation 198 208 214 214 241 271 293 258 266 303
Per share, $
Per share, $ Revenue 14.28 14.35 12.72 11.61 11.80 13.93 15.34 12.90 12.92 13.99
Earnings 2.33 3.08 1.35 0.85 0.77 1.39 2.42 4.70 1.87 1.97
Cash flow 3.74 3.68 3.05 2.74 2.58 3.89 4.85 6.13 4.04 3.53
Capex (2.40) (1.73) (1.80) (1.62) (2.41) (2.60) (1.95) (3.81) (3.88) (3.90)
Free cash flow 1.35 1.95 1.25 1.12 0.17 1.30 2.89 2.33 0.15 (0.37)
Book value 7.80 10.65 12.06 12.67 13.57 14.92 17.27 22.01 23.75 25.94
Shares, m 87 97 103 106 107 108 109 110 111 112
Valuation, ×
Valuation, × P/E 8.19 11.27 10.84 28.31 33.53 28.55 17.87 6.44 27.69 59.60
P/S 1.34 2.40 1.16 2.07 2.19 2.85 2.81 2.35 3.99 8.40
P/B 2.46 3.24 1.22 1.90 1.90 2.66 2.49 1.38 2.17 4.53
EV/Sales 1.31 2.24 0.87 1.72 1.93 2.55 2.37 1.64 3.26 7.76
EV/FCF 13.84 16.54 7.95 17.80 761.88 31.06 10.21 24.70 178.21 (382.33)
Cash, $m
Cash, $m Operating cash flow 327 356 313 291 277 421 530 677 449 395
Capex (210) (168) (184) (173) (258) (281) (214) (420) (432) (437)
Free cash flow 118 188 129 119 19 140 316 257 17 (41)
Balance, $m
Balance, $m Working capital 451 572 784 835 830 920 1,108 1,432 1,475 1,446
Total debt 344 335 267 312 390 315 272 232 181 162
Net debt (45) (225) (374) (435) (321) (450) (733) (1,005) (1,037) (990)
Shareholders’ equity 683 1,030 1,236 1,347 1,455 1,615 1,889 2,427 2,640 2,905
Returns, %
Returns, % ROA 17.39 19.52 7.83 4.84 4.09 6.94 11.07 18.97 6.93 6.89
ROIC 17.17 17.08 11.23 5.95 5.02 8.93 16.86 24.05 7.46 6.34
ROE 38.18 34.81 11.97 6.97 5.88 9.77 15.10 24.03 8.20 7.95
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Tower Semiconductor Ltd. vs peers in Semiconductors (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MCHP Microchip Technology Incorporated $40.3B 110× 51.2× +38.05% (above 0%: growing) n/m +93.09% (above 0%: growing) 63.24% 22.68% Compare
CRDO Credo Technology Group Holding Ltd. $33.6B 57.5× 42.5× +114.73% (above 0%: growing) +89.19% (above 0%: growing) +61.55% (above 0%: growing) 64.53% 25.20% Compare
ON ON Semiconductor Corporation $28.7B 45.6× 53.2× +9.18% (above 0%: growing) +41.46% (above 0%: growing) +284.55% (above 0%: growing) 38.43% 16.13% Compare
GFS GlobalFoundries Inc. $26.8B 35.9× 55.3× +5.81% (above 0%: growing) −26.83% (below 0%: shrinking) −97.40% (below 0%: shrinking) 28.28% 9.74% Compare
TSEM Tower Semiconductor Ltd. $23.8B 76.1× 79.0× +23.66% (above 0%: growing) +90.48% (above 0%: growing) −180.73% (below 0%: shrinking) 29.95% 19.62%
MTSI MACOM Technology Solutions Holdings, Inc. $20.7B 82.0× 106× +35.77% (above 0%: growing) +169.39% (above 0%: growing) +165.46% (above 0%: growing) 58.31% 22.53% Compare
SWKS Skyworks Solutions, Inc. $18.6B 40.9× 45.2× −3.13% (below 0%: shrinking) −67.14% (below 0%: shrinking) −106.87% (below 0%: shrinking) 40.12% 5.19% Compare
LSCC Lattice Semiconductor Corporation $15.2B 399× 150× +62.20% (above 0%: growing) +600.00% (above 0%: growing) +130.47% (above 0%: growing) 70.29% 11.12% Compare
SITM SiTime Corporation $15.1B 891× 301× +126.54% (above 0%: growing) n/m +1,018.94% (above 0%: growing) 62.97% 5.22% Compare
Median of peers $23.7B 69.7× 54.3× +36.91% +65.33% +111.78% 60.64% 13.62%

All 67 Semiconductors stocks →

Tower Semiconductor Ltd. (TSEM) key facts

  • Strength: Tower Semiconductor Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $1.6 billion, up 9.05% from fiscal 2024.
  • Tower Semiconductor Ltd. (TSEM) is a Semiconductors company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, TSEM traded at $195.58, a market capitalization of $23.8 billion.
  • Return on equity was 7.95% and debt-to-equity 0.05.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 20.45 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Tower Semiconductor Ltd. (TSEM) Latest News

18 Jun

Impact 5 ·

13 May

Impact 5 ·
Impact 5 ·
Impact 5 ·
Impact 5 ·

5 May

Impact 5 ·

13 Nov

Impact 5 ·
stockrow.com/TSEM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com