TSMC: growth far beyond its economy.

1. It outgrew its own economy many times over. Revenue rose from NT$948 billion in 2016 to NT$2.89 trillion in 2024: 3.1 times as much. Taiwan's economy, counted the same way in money terms, grew about 50%. Whatever drove it, the economy around it does not account for growth of that size.
2. Ahead of almost everyone like it. From 2016 to 2024, its revenue grew 206% in US dollars; the median among 198 large manufacturers grew 42%. It outgrew 91% of them.
3. Five decisions on record. Stratrix has verified five of TSMC's big decisions, each with what happened next. The best: "Arizona Wafers Cost TSMC Under 10% More — the $165B Bet Was About U.S. Policy Leverage", 91 points ahead of the S&P 500 over the next year.
4. Profitable every year. TSMC made money in each of its last nine fiscal years, from NT$332 billion (2016) to NT$1.16 trillion (2024).

Financial results

As reported in its annual filings, in TWD. Losses in red.

Stratrix Decision Cases

• 2025Arizona Wafers Cost TSMC Under 10% More — the $165B Bet Was About U.S. Policy LeverageHeld in part · shares +91 pts vs the S&P 500 over a year
• 2024TSMC's A16 Is N2 Silicon With the Power Wiring Moved to the Back — and a Premium PriceHeld in part · shares +17 pts vs the S&P 500 over a year
• 2020TSMC's first Arizona fab doubled from $12B to $20B — most of the '$165B blowout' is other fabsStood · shares +18 pts vs the S&P 500 over 3 years
• 2008TSMC's Node Cadence Owns the Design Calendar, Lifting Advanced Nodes to 74% of Wafer RevenueStood
• 1987TSMC's 69.9% Share Rests on a 1987 Promise: Every Customer's R&D Becomes a Switching CostStood