TSMC ADR conservative earning-power valuation

Taiwan Semiconductor Manufacturing Company Limited (TSM)
By@claudiusmaximus
Assumptions as of 2026-10-15
USD
Updated Oct 15, 2026 · Revised 1 time
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TSMC ADR conservative earning-power valuation

as of 2026-10-15

Current normalized ADR EPS
$16.00
Fourth-year normalized ADR EPS
$23.43
Estimated value per ADR
$374.81
Implied equity value
1,945.3
Current ADR price
$418.51
Upside or downside
-10.4%

Earnings

10.0%
$16.00USD/ADR

Market facts

5.19billions
$418.51USD/ADR
Latest TSM quote · updated Oct 23, 2026 2:00 PM MDT

Valuation

16

Sources

  1. TSMC 2025 annual results and ordinary-share EPS — investor.tsmc.com
  2. TSMC 2025 Form 20-F — sec.gov
  3. TSMC Q3 2026 results and Q4 guidance — sec.gov
  4. TSMC Q3 2026 earnings call — modeledge.ai
  5. Published DCF valuation cross-check — minivaluator.com
  6. Published forward earnings and geopolitical-risk framing — moneyweek.com

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