Intel Corporation (INTC) vs Taiwan Semiconductor Manufacturing Company Ltd. (TSM)

Intel Corporation and Taiwan Semiconductor Manufacturing Company Ltd. are both Semiconductors companies. Taiwan Semiconductor Manufacturing Company Ltd. is the larger, with a market value of $2.36T against $686.6B — 3.4× the size. Intel Corporation has negative trailing earnings, so its P/E is not meaningful; Taiwan Semiconductor Manufacturing Company Ltd. trades at 32.5×. Taiwan Semiconductor Manufacturing Company Ltd. grew revenue faster over the last twelve months: 35.6% against 7.47%. Taiwan Semiconductor Manufacturing Company Ltd. has the higher net margin (49.9% vs −19.8%) and the higher return on invested capital (39.7% vs −0.04%). Both pay a dividend; Taiwan Semiconductor Manufacturing Company Ltd. yields more (1.64% vs 1.23%). Across the 22 metrics below, Taiwan Semiconductor Manufacturing Company Ltd. leads on 18 and Intel Corporation on 4.

Valuation

Metric INTC TSM Semiconductors median
P/E n/m 32.51 49.41
P/S 11.01 16.50 8.58
P/B 6.09 11.39 5.49
Price to free cash flow 249.92 65.78 47.02
EV/EBITDA 53.43 22.33 30.78
EV/Sales 11.37 15.93 8.79
Earnings yield (1.72%) 3.08% 0.62%
Free cash flow yield 0.40% 1.52% 0.59%

Profitability

Metric INTC TSM Semiconductors median
Gross margin 38.60% 64.20% 52.25%
Operating margin (0.14%) 56.05% 4.85%
Net margin (19.79%) 49.88% 4.77%
Free cash flow margin 4.96% 25.08% 8.65%
Return on equity (10.81%) 39.78% 3.11%
Return on assets (5.72%) 26.93% 1.91%
Return on invested capital (0.04%) 39.72% 2.46%

Growth

Metric INTC TSM Semiconductors median
Revenue growth (TTM) 7.47% 35.61% 16.66%
EPS growth (last fiscal year) 98.63% 51.28% —
Revenue growth, 5-year CAGR (7.46%) 20.55% 5.60%
Net income growth, 5-year CAGR 0.00% 24.37% 0.00%

Health

Metric INTC TSM Semiconductors median
Debt to equity 0.49 0.16 0.05
Current ratio 1.60 2.46 3.35
Net debt to EBITDA 0.97 (0.79) 0.58

Dividend

Metric INTC TSM Semiconductors median
Dividend yield 1.23% 1.64% 1.93%
Payout ratio 0.75 0.30 0.00

Size

Metric INTC TSM Semiconductors median
Market cap 686.57b 2.36t 5.67b

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