FEAF
TWSE

2330 台積電

2,350.00 ▲ 10.00 (0.43%) Close · 2026-11-13 · TWSE
Ask about 2330 ✔ On watchlist
This is research, not a buy or sell recommendation. Robo-advice in Taiwan requires an FSC licence; FEAF analyses, explains and monitors, and the investor makes the decision. Judgement thresholds are working rules pending review by the team's finance members.

Plain-language summary of valuation, growth, profitability, balance sheet, and recent MOPS filings.

Your risk profile
Conclusion

Mixed picture: 4 strengths against 1 watch-outs. Weigh them against your own goals.

For a moderate profile, none of the items above crosses the watch-out thresholds set by the team.

In plain words

Stock 2330 shows high profitability with a return on equity of 36.4%, a 51.5% net margin, and Q3 2026 year-on-year revenue growth of 50.9%. It maintains a light debt load with liabilities accounting for 29.9% of total assets in Q3 2026 and generated 1,002,565 NT$ million in positive free cash flow in 2025. However, the current price implies a 5.2% perpetual growth rate above the 3.5% ceiling, with its P/E of 23.92 close to the industry median of 23.61. Ultimately, all final investment decisions rest entirely with the investor.

Written by gemini-3.6-flash from the facts above; every number was checked against them.

Strengths

+ Revenue grew 31.6% in 2025; latest quarter Q3 2026: 50.9% year on year. source (Financials) →
+ Return on equity 36.4% with a 51.5% net margin: highly profitable. source (Key Stats) →
+ Liabilities are only 29.9% of total assets (Q3 2026): a light debt load. source (Financials) →
+ Free cash flow was positive in 2025: 1,002,565 NT$ million. source (Financials) →

Watch-outs

! The current price implies 5.2% perpetual growth, above the 3.5% ceiling: the price already assumes high expectations. source (Valuation) →

What to check before deciding

?Can the company sustain growth above the perpetual-growth ceiling for years?

What the analysis found

! Valuation (DCF) The current price implies 5.2% perpetual growth, above the 3.5% ceiling: the price already assumes high expectations. source →
· Valuation vs peers P/E 23.92 is close to the Semiconductors median of 23.61 (80 listed peers). source →
+ Growth Revenue grew 31.6% in 2025; latest quarter Q3 2026: 50.9% year on year. source →
+ Profitability Return on equity 36.4% with a 51.5% net margin: highly profitable. source →
+ Debt Liabilities are only 29.9% of total assets (Q3 2026): a light debt load. source →
+ Cash flow Free cash flow was positive in 2025: 1,002,565 NT$ million. source →
· Filings 1 verified alert(s); latest on 2026-11-10: 本公司民國115年度第三季合併財務報告業經 董事會決議通過 source →
· Filings 5 filing(s) are held or rejected and wait for human review. source →