Taiwan Semiconductor (NYSE: TSM) reports 31.6% full-year 2025 revenue growth

Rhea-AI Filing Summary

Taiwan Semiconductor Manufacturing Company Limited reported strong December and full-year 2025 results. Consolidated net revenue for December 2025 was about NT$335.00 billion, down 2.5% from November 2025 but up 20.4% from December 2024, showing solid year-over-year momentum despite a modest monthly dip.

For January through December 2025, consolidated net revenue reached NT$3,809.05 billion, a 31.6% increase compared with the same period in 2024, highlighting significant annual growth. The company also disclosed intercompany lending to subsidiaries, guarantees for wholly owned units, and positions in foreign-exchange derivatives, including some unrealized and realized losses, as part of its routine treasury and risk management activities.

Positive

• Full-year revenue growth was strong, with consolidated net revenue for January–December 2025 reaching NT$3,809.05 billion, a 31.6% increase compared with the same period in 2024.

Negative

• None.

Insights

Equity & fundamentals analyst

TSMC posts very strong 2025 revenue growth despite a small monthly dip.

TSMC reported December 2025 consolidated net revenue of NT$335.00 billion, which was a 2.5% decline versus November 2025 but a 20.4% increase versus December 2024. The more important data point is full-year performance: January–December 2025 revenue totaled NT$3,809.05 billion, up 31.6% from the same period in 2024, indicating very strong top-line expansion.

The filing also details intra‑group funding and guarantees, such as lending from TSMC China and TSMC Development to TSMC Nanjing and TSMC Washington, and guarantees provided to TSMC North America, TSMC Global, and TSMC Arizona. These support global capacity build‑out but are all within the TSMC group. Derivative tables show foreign‑exchange forwards and futures with both unrealized and realized losses at the parent and certain subsidiaries, while others show gains; these appear to reflect normal hedging around large international cash flows.

Overall, the combination of over 30% year‑on‑year revenue growth and routine treasury activity makes this disclosure net positive from a fundamentals perspective, even though month‑to‑month revenue can fluctuate. Future periodic updates for subsequent months and quarters will provide additional clarity on whether this elevated growth pace is sustained.

1934 Act Registration No. 1-14700

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

_____________________________

FORM 6-K

_____________________________

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of January 2026

(Commission File Number: 001-14700)

_____________________________

Taiwan Semiconductor Manufacturing Company Limited

(Translation of Registrant’s Name Into English)

_____________________________

No. 8, Li-Hsin Road 6

Hsinchu Science Park

Hsinchu 300-096, Taiwan

Republic of China

(Address of Principal Executive Offices)

_____________________________

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  x            Form 40-F  o

Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(1):o

Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(7):o

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Taiwan Semiconductor Manufacturing Company Limited

Date: January 9, 2026

By

/s/ Wendell Huang

Wendell Huang

Senior Vice President and Chief Financial Officer

TSMC December 2025 Revenue Report

HSINCHU, Taiwan, R.O.C. – Jan. 9, 2026 - TSMC (TWSE: 2330, NYSE: TSM) today announced its net revenue for December 2025: On a consolidated basis, revenue for December 2025 was approximately NT$335.00 billion, a decrease of 2.5 percent from November 2025 and an increase of 20.4 percent from December 2024. Revenue for January through December 2025 totaled NT$3,809.05 billion, an increase of 31.6 percent compared to the same period in 2024.

			TSMC December Revenue Report (Consolidated):
																								(Unit:NT$ million)
			Period			December 2025			November 2025			M-o-M Increase (Decrease) %			December 2024			Y-o-Y Increase (Decrease) %			January to December 2025			January to December 2024			Y-o-Y Increase (Decrease) %
			Net Revenue			335,003			343,614			(2.5)			278,163			20.4			3,809,054			2,894,308			31.6

TSMC Spokesperson:

TSMC Media Contacts

Wendell Huang Senior Vice President and CFO

Nina Kao Head of Public Relations Tel: 886-3-563-6688 ext.7125036 Mobile: 886-988-239-163 E-Mail: press@tsmc.com

Ulric Kelly Public Relations Tel: 886-3-563-6688 ext.7126541 Mobile: 886-978-111-503 E-Mail: press@tsmc.com

Taiwan Semiconductor Manufacturing Company Limited

This is to report the changes or status of 1) revenue, 2) funds lent to other parties, 3) endorsements and guarantees, and 4) financial derivative transactions for December 2025 (“Current Month”).

Note: “Outstanding” herein means the outstanding balance at the end of Current Month; and “Cumulative” herein represents the accumulated amounts from the beginning of this year till the end of Current Month.

1. Revenue (in NT$ thousands)

Period			Items			2025			2024
Dec.			Net Revenue			335,003,568			278,163,107
Jan. ~ Dec.			Net Revenue			3,809,054,272			2,894,307,699

2. Funds lent to other parties (in NT$ thousands)

Lending Company			Limit of lending			Amount approved by the Board of Directors			Outstanding amount
TSMC China*			119,657,723			15,295,580			15,295,580
TSMC Development**			33,818,022			1,886,640			1,886,640

* The borrower is TSMC Nanjing, a wholly-owned subsidiary of TSMC.

** The borrower is TSMC Washington, a wholly-owned subsidiary of TSMC.

3. Endorsements and guarantees (in NT$ thousands)

Guarantor			Limit of guarantee			Amount approved by the Board of Directors			Outstanding amount
TSMC*			1,999,322,789			2,616,559			2,616,559
TSMC**						204,386,000			204,386,000
TSMC***						471,476,919			343,737,521

* The guarantee was provided to TSMC North America, a wholly-owned subsidiary of TSMC.

** The guarantee was provided to TSMC Global, a wholly-owned subsidiary of TSMC.

*** The guarantee was provided to TSMC Arizona, a wholly-owned subsidiary of TSMC.

4. Financial derivative transactions (in NT$ thousands)

(1)Derivatives not applying hedge accounting.

‧TSMC

						Forward
Margin Payment						-
Premium Income (Expense)						-
Existing Contracts			Outstanding Notional Amount			280,130,819
			Mark to Market of Outstanding Contracts			(3,015,196)
			Cumulative Unrealized Profit/Loss			(2,589,261)
Expired Contracts			Cumulative Notional Amount			1,348,106,828
			Cumulative Realized Profit/Loss			(5,544,918)
Equity price linked product (Y/N)						N

‧TSMC China

						Forward
Margin Payment						-
Premium Income (Expense)						-
Existing Contracts			Outstanding Notional Amount			2,290,836
			Mark to Market of Outstanding Contracts			16,568
			Cumulative Unrealized Profit/Loss			16,223
Expired Contracts			Cumulative Notional Amount			14,988,295
			Cumulative Realized Profit/Loss			(894)
Equity price linked product (Y/N)						N

‧TSMC Nanjing

						Forward
Margin Payment						-
Premium Income (Expense)						-
Existing Contracts			Outstanding Notional Amount			3,392,628
			Mark to Market of Outstanding Contracts			24,269
			Cumulative Unrealized Profit/Loss			24,220
Expired Contracts			Cumulative Notional Amount			46,068,005
			Cumulative Realized Profit/Loss			15,388
Equity price linked product (Y/N)						N

‧Japan Advanced Semiconductor Mfg., Inc.

						Forward
Margin Payment						-
Premium Income (Expense)						-
Existing Contracts			Outstanding Notional Amount			1,227,691
			Mark to Market of Outstanding Contracts			4,226
			Cumulative Unrealized Profit/Loss			(189,927)
Expired Contracts			Cumulative Notional Amount			99,463,826
			Cumulative Realized Profit/Loss			(135,065)
Equity price linked product (Y/N)						N

(2)Derivatives applying hedge accounting.

‧TSMC Global

						Future
Margin Payment						(9,905)
Premium Income (Expense)						-
Existing Contracts			Outstanding Notional Amount			745,223
			Mark to Market of Outstanding Contracts			(817)
			Cumulative Unrealized Profit/Loss			(12,029)
Expired Contracts			Cumulative Notional Amount			13,259,935
			Cumulative Realized Profit/Loss			(33,718)
Equity price linked product (Y/N)						N

FAQ

How much revenue did TSM (TSMC) report for December 2025?

For December 2025, TSMC reported consolidated net revenue of about NT$335.00 billion. This was a 2.5% decrease from November 2025 but a 20.4% increase compared with December 2024.

What was TSMCs full-year 2025 revenue and growth rate?

For January through December 2025, TSMC reported consolidated net revenue of NT$3,809.05 billion, representing a 31.6% increase compared with the same period in 2024.

Did TSM (TSMC) show revenue growth year over year in December 2025?

Yes. December 2025 consolidated net revenue increased 20.4% year over year versus December 2024, even though it declined 2.5% month over month compared with November 2025.

What intercompany loans did TSMC disclose for December 2025?

TSMC disclosed funds lent by TSMC China and TSMC Development. TSMC China had an outstanding amount of NT$15,295,580 thousand to TSMC Nanjing, and TSMC Development had NT$1,886,640 thousand outstanding to TSMC Washington.

Which subsidiaries did TSMC guarantee in December 2025 and for how much?

TSMC provided guarantees to three wholly owned subsidiaries: TSMC North America with an outstanding amount of NT$2,616,559 thousand, TSMC Global with NT$204,386,000 thousand, and TSMC Arizona with NT$343,737,521 thousand.

What derivative positions did TSMC report as of December 2025?

TSMC and several subsidiaries reported foreign-exchange forwards and futures. For example, TSMC showed outstanding forward notional of NT$280,130,819 thousand with a mark-to-market of NT$(3,015,196) thousand and cumulative realized profit/loss of NT$(5,544,918) thousand. All listed products were noted as not equity price linked.