TSMC FY2025 Annual Results

Taiwan Semiconductor Manufacturing Company (NYSE: TSM; TWSE: 2330) closed fiscal year 2025 with a record performance powered by artificial intelligence demand. Consolidated revenue rose 31.6% year-on-year to about NT$3.81 trillion, and every profit line grew faster than the top line: gross profit climbed 40.5% to roughly NT$2.28 trillion, operating income advanced 46.4% to NT$1.93 trillion, and net income also rose 46.4% to about NT$1.71 trillion — clear evidence of operating leverage from a richer advanced-node product mix.

Margins expanded at every level. Gross margin improved 3.9 percentage points to 60.0%, operating margin gained 5.1 points to 50.8%, and net margin rose 4.0 points to 45.0%. The company attributes this expansion to a structurally richer advanced-node mix and higher fab utilization — a durable, mix-driven improvement rather than a cyclical windfall.

Taken together, the FY2025 numbers show the world’s leading dedicated foundry converting AI-driven demand into outsized profit growth, with profitability stepping up in step with scale. The results were consolidated and audited, and were approved by the board in February 2026, positioning TSMC with substantial financial headroom for its continued aggressive investment in leading-edge capacity worldwide.