Foundry leader TSMC (2330-TW) Today (14) held an online method to announce the financial report and release the operating outlook. In the fourth quarter of last year, the double rate, net profit and EPS set new highs. This year’s industry and revenue outlook, capital expenditure, Intel outsourcing orders and overseas expansion Issues such as plans are the focus of law. “Juheng.com” sorted out the nine key points of this lecture, so that readers can understand them in one article.
Last year’s net profit per share was 19.97 yuan and 1.4 billion yuan was earned every day
TSMC’s double rates in the fourth quarter of last year were better than financial estimates and set new highs. The gross profit margin was 54%, the profit margin was 43.5%, and the single-quarter after-tax net profit was 142.77 billion yuan, a quarterly increase of 4% and an annual increase of 23%. The net profit was 5.51 yuan, and the net profit and EPS continued to write new rules; the annual after-tax net profit was 517.885 billion yuan, an annual increase of 50%, which is equivalent to an average daily profit of more than 1.4 billion yuan last year, a net profit per share of 19.97 yuan, and nearly 2 equity.
Q1 Operation is estimated to remain high-end
In the first quarter of this year, benefiting from the strong demand for efficient computing, the declining demand for vehicles, and the slightly milder seasonal impact of smartphones, the capacity utilization rate remained high-end, and the operating low season was not weak, with an estimated revenue of 12.7-13 billion.USD, A quarterly increase of 0.16-2.5%, will continue to record highs, gross profit margin is estimated to be 50.5-52.5%, profit margin is estimated to be 39.5-41.5%, down from the previous quarter, but still high-end.
Industry and revenue continue to grow this year, revenue will hit a year-on-year high to 2025
TSMC estimates that the output value of the semiconductor industry (excluding memory) will grow by 8% this year, and the foundry output value is estimated to grow by 10%, while TSMC’s advanced process technology maintains its leading position in the industry, and 5G mobile phones, efficient computing, automotive, Internet of Things The momentum of other platforms is strong, customers are optimistic about the prospects of terminal applications, and the demand for advanced processes is booming. It is estimated that this yearUSDRevenue will grow by 14-16%, better than the industry average.
TSMC’s revenue has hit a record high since 2010 and has been growing year by year. According to TSMC’s estimates, by 2025, each year’s revenue will grow year by year.USDThe compound annual revenue growth rate (CACG) will reach 10-15%, which also means that TSMC will write a record of 16 consecutive years of revenue rewriting a record high, and it will not vain the title of “product”.
This year’s capital expenditure has surged up to 28 billion yuanUSD
TSMC’s annual capital expenditure last year totaled 17.2 billionUSD, This year’s capital expenditure will reach 25-28 billionUSD, Much higher than the 22 billion foreign investment originally expectedUSD, Equivalent to an annual increase of 45-62%, of which 80% will be used for advanced manufacturing processes, 10% will be used for mass production needs of advanced packaging technology, and 10% will be used for special manufacturing processes.
The best mobile phones for cars and efficient computing this year, and the Internet of Things is close to the growth average
TSMC estimates that this year’s high-performance computing and automotive demand will be better than the company’s average revenue growth rate, mobile phones and the Internet of Things will be close to average, and the advanced packaging and other processes in the latter stage will be slightly better than average.
5G mobile phone penetration rate is estimated to reach 35%
TSMC estimates that global smartphone shipments will grow by 10% this year. Among them, the penetration rate of 5G mobile phones reached 18% last year and is expected to exceed 35% this year, showing strong growth momentum.
Talk about Intel’s outsourcing order
TSMC raises capital expenditure this year to 25-28 billion yuanUSD, Which is much higher than outside expectations, and foreign investment is therefore concerned about whether it is related to Intel’s outsourced OEM orders. In this regard, President Wei Zhejia only emphasized that TSMC has never commented on a single customer. , Long-term momentum is strong and will support customer demand.
LookNew Taiwan DollarThe exchange rate continues to appreciate to 27.9 yuan
TSMC will announce the quarterly lawNew Taiwan DollarThe exchange rate estimate is regarded as an industry observationNew Taiwan DollarTrend indicator.And even though the central bank has frequently taken measures to block the rise recently, and rarely publicly called on all sectors to jointly stabilize the foreign exchange market, from the perspective of TSMC’s first quarter financial forecast,New Taiwan DollarThe exchange rate assumption comes to 27.9 yuan, obviouslyNew Taiwan DollarIt is imperative for the exchange rate to rise above 28 yuan.
Overseas expansion plan
Chairman Liu Deyin said that the Arizona plant is currently aiming to achieve a monthly production capacity of 20,000 pieces by 2024 when it is mass-produced. In the future, it will not rule out the next phase of expansion plans; while the Nanjing plant has plans to gradually expand its production capacity. TSMC also confirmed for the first time after the legal meeting that it is assessing the establishment of a materials research and development center in Japan, but has not yet made a final investment decision.
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