What is Tower Semiconductor Ltd's earnings per share (EPS)?

Tower Semiconductor Ltd (TSEM) reported diluted earnings per share of $1.94 for fiscal year 2025. This represents a 4.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Tower Semiconductor Ltd Financials

TSEM

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Tower Semiconductor Ltd (TSEM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 57/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Tower Semiconductor Ltd has an operating margin of 12.4%, meaning the company retains $12 of operating profit per $100 of revenue. This results in a moderate score of 50/100, indicating healthy but not exceptional operating efficiency. This is down from 13.3% the prior year.

Growth

Tower Semiconductor Ltd's revenue grew 9.1% year-over-year to $1.6B, a solid pace of expansion. This earns a growth score of 48/100.

Leverage

100

Tower Semiconductor Ltd carries a low D/E ratio of 0.05, meaning only $0.05 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 6.48, Tower Semiconductor Ltd holds $6.48 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

While Tower Semiconductor Ltd generated $395.5M in operating cash flow, capex of $444.4M consumed most of it, leaving -$48.9M in free cash flow. This results in a low score of 17/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Tower Semiconductor Ltd generates a 7.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 28/100. This is down from 7.8% the prior year.

Altman Z-Score Safe

29.91

Tower Semiconductor Ltd scores 29.91, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($19.7B) relative to total liabilities ($417.7M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral

6/9

Tower Semiconductor Ltd passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.79x

For every $1 of reported earnings, Tower Semiconductor Ltd generates $1.79 in operating cash flow ($395.5M OCF vs $220.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

53.1x

Tower Semiconductor Ltd earns $53.1 in operating income for every $1 of interest expense ($194.2M vs $3.7M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.6B

YoY+9.1%

5Y CAGR+4.4%

10Y CAGR+5.0%

Tower Semiconductor Ltd generated $1.6B in revenue in fiscal year 2025. This represents an increase of 9.1% from the prior year.

EBITDA

$497.3M

YoY+8.7%

5Y CAGR+8.4%

10Y CAGR+7.1%

Tower Semiconductor Ltd's EBITDA was $497.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 8.7% from the prior year.

Net Income

$220.5M

YoY+6.1%

5Y CAGR+21.8%

Tower Semiconductor Ltd reported $220.5M in net income in fiscal year 2025. This represents an increase of 6.1% from the prior year.

EPS (Diluted)

$1.94

YoY+4.9%

5Y CAGR+20.6%

Tower Semiconductor Ltd earned $1.94 per diluted share (EPS) in fiscal year 2025. This represents an increase of 4.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$48.9M

YoY-490.6%

Tower Semiconductor Ltd generated -$48.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 490.6% from the prior year.

Cash & Debt

$235.4M

YoY-13.4%

5Y CAGR+2.1%

10Y CAGR+3.0%

Tower Semiconductor Ltd held $235.4M in cash against $133.4M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

113M

YoY+0.9%

5Y CAGR+0.8%

10Y CAGR+3.2%

Tower Semiconductor Ltd had 113M shares outstanding in fiscal year 2025. This represents an increase of 0.9% from the prior year.

Margins & Returns

Gross Margin

23.2%

YoY-0.4pp

5Y CAGR+4.8pp

10Y CAGR+1.9pp

Tower Semiconductor Ltd's gross margin was 23.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.4 percentage points from the prior year.

Operating Margin

12.4%

YoY-0.9pp

5Y CAGR+5.2pp

10Y CAGR+3.9pp

Tower Semiconductor Ltd's operating margin was 12.4% in fiscal year 2025, reflecting core business profitability. This is down 0.9 percentage points from the prior year.

Net Margin

14.1%

YoY-0.4pp

5Y CAGR+7.6pp

10Y CAGR+17.2pp

Tower Semiconductor Ltd's net profit margin was 14.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.4 percentage points from the prior year.

Return on Equity

7.5%

YoY-0.3pp

5Y CAGR+1.9pp

10Y CAGR+15.2pp

Tower Semiconductor Ltd's ROE was 7.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.3 percentage points from the prior year.

Capital Allocation

R&D Spending

$86.5M

YoY+8.9%

5Y CAGR+2.0%

10Y CAGR+3.4%

Tower Semiconductor Ltd invested $86.5M in research and development in fiscal year 2025. This represents an increase of 8.9% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$444.4M

YoY+1.9%

5Y CAGR+7.2%

10Y CAGR+10.0%

Tower Semiconductor Ltd invested $444.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 1.9% from the prior year.

TSEM Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.6B+9.1%	$1.4B+0.9%	$1.4B-15.2%	$1.7B+11.2%	$1.5B+19.2%	$1.3B
Cost of Revenue	$1.2B+9.6%	$1.1B+2.6%	$1.1B-11.7%	$1.2B+2.7%	$1.2B+14.2%	$1.0B
Gross Profit	$363.9M+7.2%	$339.4M-4.0%	$353.5M-24.2%	$466.3M+41.7%	$329.1M+41.1%	$233.3M
R&D Expenses	$86.5M+8.9%	$79.4M-0.5%	$79.8M-4.9%	$83.9M-1.7%	$85.4M+9.0%	$78.3M
SG&A Expenses	$83.2M+11.0%	$75.0M+3.5%	$72.5M-9.8%	$80.3M+4.0%	$77.2M+20.7%	$64.0M
Operating Income	$194.2M+1.5%	$191.3M-65.0%	$547.3M+75.6%	$311.7M+87.2%	$166.5M+82.9%	$91.0M
Interest Expense	$3.7M-9.2%	$4.0M-9.3%	$4.4M-21.9%	$5.7M-22.2%	$7.3M+8.2%	$6.8M
Income Tax	$21.6M+111.4%	$10.2M-84.4%	$65.3M+156.1%	$25.5M+2390.4%	$1.0M-81.0%	$5.4M
Net Income	$220.5M+6.1%	$207.9M-59.9%	$518.5M+96.0%	$264.6M+76.4%	$150.0M+82.3%	$82.3M
EPS (Diluted)	$1.94+4.9%	$1.85-60.3%	$4.66+95.0%	$2.39+74.5%	$1.37+80.3%	$0.76

Metric	Q4'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
Revenue	N/A	N/A	$351.2M	N/A	$357.2M	N/A	$426.2M	N/A
Cost of Revenue	N/A	N/A	$264.3M	N/A	$270.7M	N/A	$313.7M	N/A
Gross Profit	N/A	N/A	$86.9M	N/A	$86.5M	N/A	$112.4M	N/A
R&D Expenses	N/A	N/A	$19.0M	N/A	$19.5M	N/A	$20.5M	N/A
SG&A Expenses	N/A	N/A	$19.1M	N/A	$17.4M	N/A	$21.3M	N/A
Operating Income	N/A	N/A	$55.1M	N/A	$50.5M	N/A	$70.7M	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	$6.1M	N/A	$5.7M	N/A	$4.3M	N/A
Net Income	N/A	N/A	$53.4M	N/A	$51.2M	N/A	$58.1M	N/A
EPS (Diluted)	N/A	N/A	$0.48	N/A	$0.46	N/A	$0.53	N/A

TSEM Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$3.3B+7.8%	$3.1B+5.5%	$2.9B+14.6%	$2.5B+14.2%	$2.2B+6.5%	$2.1B
Current Assets	$1.7B-2.9%	$1.8B+3.0%	$1.7B+14.3%	$1.5B+25.0%	$1.2B+8.5%	$1.1B
Cash & Equivalents	$235.4M-13.4%	$271.9M+4.3%	$260.7M-23.5%	$340.8M+61.6%	$210.9M-0.4%	$211.7M
Inventory	$256.9M-4.3%	$268.3M-5.1%	$282.7M-6.4%	$302.1M+28.8%	$234.5M+17.8%	$199.1M
Accounts Receivable	$222.8M+5.1%	$211.9M+37.6%	$154.1M+0.7%	$152.9M+7.5%	$142.2M-12.3%	$162.1M
Goodwill	$7.0M0.0%	$7.0M0.0%	$7.0M0.0%	$7.0M0.0%	$7.0M0.0%	$7.0M
Total Liabilities	$417.7M-5.1%	$440.3M-10.4%	$491.5M-25.4%	$659.1M+7.0%	$615.9M-3.7%	$639.2M
Current Liabilities	$263.7M-7.5%	$285.1M+3.0%	$276.8M-28.5%	$387.4M+40.2%	$276.3M+1.3%	$272.9M
Long-Term Debt	$133.4M+0.7%	$132.4M-23.3%	$172.6M-17.8%	$210.1M-9.1%	$231.0M-18.6%	$283.8M
Total Equity	$2.9B+10.0%	$2.7B+9.1%	$2.4B+28.6%	$1.9B+16.6%	$1.6B+11.3%	$1.5B
Retained Earnings	$895.9M+32.6%	$675.5M+44.5%	$467.6M+1019.1%	-$50.9M+83.9%	-$315.4M+32.2%	-$465.5M

Metric	Q4'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
Total Assets	$3.3B+7.8%	$3.1B+4.0%	$3.0B+1.5%	$2.9B+15.2%	$2.5B-0.5%	$2.5B+9.6%	$2.3B+4.2%	$2.2B
Current Assets	$1.7B-2.9%	$1.8B+2.9%	$1.7B+0.1%	$1.7B+18.7%	$1.4B-3.7%	$1.5B+13.4%	$1.3B+10.2%	$1.2B
Cash & Equivalents	$235.4M-13.4%	$271.9M+2.5%	$265.3M+1.8%	$260.7M-18.1%	$318.2M-6.6%	$340.8M+61.4%	$211.2M+0.1%	$210.9M
Inventory	$256.9M-4.3%	$268.3M-2.8%	$276.1M-2.3%	$282.7M-14.5%	$330.8M+9.5%	$302.1M+21.3%	$249.0M+6.2%	$234.5M
Accounts Receivable	$222.8M+5.1%	$211.9M+28.3%	$165.2M+7.2%	$154.1M-5.6%	$163.3M+6.8%	$152.9M-10.3%	$170.6M+19.9%	$142.2M
Goodwill	$7.0M0.0%	$7.0M-37.6%	$11.2M+60.3%	$7.0M	N/A	$7.0M	N/A	$7.0M
Total Liabilities	$417.7M-5.1%	$440.3M-2.0%	$449.5M-8.6%	$491.5M-6.0%	$523.0M-20.6%	$659.1M+3.6%	$635.9M+3.3%	$615.9M
Current Liabilities	$263.7M-7.5%	$285.1M-1.8%	$290.2M+4.8%	$276.8M-8.3%	$301.8M-22.1%	$387.4M+11.9%	$346.2M+25.3%	$276.3M
Long-Term Debt	$133.4M+0.7%	$132.4M+4.5%	$126.7M-26.6%	$172.6M-3.5%	$178.9M-14.9%	$210.1M+4.7%	$200.7M-13.1%	$231.0M
Total Equity	$2.9B+10.0%	$2.7B+5.6%	$2.5B+3.3%	$2.4B+21.0%	$2.0B+6.3%	$1.9B+10.9%	$1.7B+5.1%	$1.6B
Retained Earnings	$895.9M+32.6%	$675.5M	N/A	$467.6M	N/A	-$50.9M	N/A	-$315.4M

TSEM Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$395.5M-11.9%	$448.7M-33.7%	$676.6M+27.7%	$529.8M+25.8%	$421.3M+52.3%	$276.6M
Capital Expenditures	$444.4M+1.9%	$436.2M-1.9%	$444.5M+21.3%	$366.4M+16.8%	$313.8M0.0%	$313.7M
Free Cash Flow	-$48.9M-490.6%	$12.5M-94.6%	$232.1M+42.0%	$163.4M+52.0%	$107.5M+389.8%	-$37.1M
Investing Cash Flow	-$398.1M+0.5%	-$400.2M+44.5%	-$720.8M-118.8%	-$329.4M+2.8%	-$338.9M+6.8%	-$363.6M
Financing Cash Flow	-$33.4M-2.8%	-$32.5M-6.7%	-$30.4M+54.4%	-$66.7M+13.3%	-$76.9M-25.6%	-$61.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TSEM Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	23.2%-0.4pp	23.6%-1.2pp	24.9%-3.0pp	27.8%+6.0pp	21.8%+3.4pp	18.4%
Operating Margin	12.4%-0.9pp	13.3%-25.1pp	38.5%+19.9pp	18.6%+7.5pp	11.0%+3.8pp	7.2%
Net Margin	14.1%-0.4pp	14.5%-22.0pp	36.4%+20.7pp	15.8%+5.8pp	10.0%+3.5pp	6.5%
Return on Equity	7.5%-0.3pp	7.8%-13.5pp	21.3%+7.3pp	14.0%+4.7pp	9.3%+3.6pp	5.7%
Return on Assets	6.6%-0.1pp	6.8%-11.0pp	17.8%+7.4pp	10.4%+3.7pp	6.7%+2.8pp	3.9%
Current Ratio	6.48+0.3	6.180.0	6.17+2.3	3.86-0.5	4.33+0.3	4.04
Debt-to-Equity	0.050.0	0.05-0.0	0.07-0.0	0.11-0.0	0.14-0.1	0.19
FCF Margin	-3.1%-4.0pp	0.9%-15.4pp	16.3%+6.6pp	9.7%+2.6pp	7.1%+10.1pp	-2.9%

Metric	Q4'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
Gross Margin	N/A	N/A	24.8%	N/A	24.2%	N/A	26.4%	N/A
Operating Margin	N/A	N/A	15.7%	N/A	14.1%	N/A	16.6%	N/A
Net Margin	N/A	N/A	15.2%	N/A	14.3%	N/A	13.6%	N/A
Return on Equity	N/A	N/A	2.1%	N/A	2.5%	N/A	3.4%	N/A
Return on Assets	N/A	N/A	1.8%	N/A	2.0%	N/A	2.5%	N/A
Current Ratio	6.48+0.3	6.18+0.3	5.90-0.3	6.17+1.4	4.77+0.9	3.86+0.0	3.81-0.5	4.33
Debt-to-Equity	0.050.0	0.050.0	0.05-0.0	0.07-0.0	0.09-0.0	0.110.0	0.12-0.0	0.14
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Tower Semiconductor Ltd's annual revenue?

Tower Semiconductor Ltd (TSEM) reported $1.6B in total revenue for fiscal year 2025. This represents a 9.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Tower Semiconductor Ltd's revenue growing?

Tower Semiconductor Ltd (TSEM) revenue grew by 9.1% year-over-year, from $1.4B to $1.6B in fiscal year 2025.

Is Tower Semiconductor Ltd profitable?

Yes, Tower Semiconductor Ltd (TSEM) reported a net income of $220.5M in fiscal year 2025, with a net profit margin of 14.1%.

What is Tower Semiconductor Ltd's EBITDA?

Tower Semiconductor Ltd (TSEM) had EBITDA of $497.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Tower Semiconductor Ltd have?

As of fiscal year 2025, Tower Semiconductor Ltd (TSEM) had $235.4M in cash and equivalents against $133.4M in long-term debt.

What is Tower Semiconductor Ltd's gross margin?

Tower Semiconductor Ltd (TSEM) had a gross margin of 23.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Tower Semiconductor Ltd's operating margin?

Tower Semiconductor Ltd (TSEM) had an operating margin of 12.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Tower Semiconductor Ltd's net profit margin?

Tower Semiconductor Ltd (TSEM) had a net profit margin of 14.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Tower Semiconductor Ltd's return on equity (ROE)?

Tower Semiconductor Ltd (TSEM) has a return on equity of 7.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Tower Semiconductor Ltd's free cash flow?

Tower Semiconductor Ltd (TSEM) generated -$48.9M in free cash flow during fiscal year 2025. This represents a -490.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Tower Semiconductor Ltd's operating cash flow?

Tower Semiconductor Ltd (TSEM) generated $395.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Tower Semiconductor Ltd's total assets?

Tower Semiconductor Ltd (TSEM) had $3.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Tower Semiconductor Ltd's capital expenditures?

Tower Semiconductor Ltd (TSEM) invested $444.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Tower Semiconductor Ltd spend on research and development?

Tower Semiconductor Ltd (TSEM) invested $86.5M in research and development during fiscal year 2025.

How many shares does Tower Semiconductor Ltd have outstanding?

Tower Semiconductor Ltd (TSEM) had 113M shares outstanding as of fiscal year 2025.

What is Tower Semiconductor Ltd's current ratio?

Tower Semiconductor Ltd (TSEM) had a current ratio of 6.48 as of fiscal year 2025, which is generally considered healthy.

What is Tower Semiconductor Ltd's debt-to-equity ratio?

Tower Semiconductor Ltd (TSEM) had a debt-to-equity ratio of 0.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Tower Semiconductor Ltd's return on assets (ROA)?

Tower Semiconductor Ltd (TSEM) had a return on assets of 6.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Tower Semiconductor Ltd's Altman Z-Score?

Tower Semiconductor Ltd (TSEM) has an Altman Z-Score of 29.91, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Tower Semiconductor Ltd's Piotroski F-Score?

Tower Semiconductor Ltd (TSEM) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Tower Semiconductor Ltd's earnings high quality?

Tower Semiconductor Ltd (TSEM) has an earnings quality ratio of 1.79x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Tower Semiconductor Ltd cover its interest payments?

Tower Semiconductor Ltd (TSEM) has an interest coverage ratio of 53.1x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Tower Semiconductor Ltd?

Tower Semiconductor Ltd (TSEM) scores 57 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.