Taiwan Semiconductor Manufactur

Taiwan Semiconductor Manufactur (TSM) closed fiscal year 2025 with total debt of 1.06 T TWD and a net cash position of 2.06 T TWD. Cash and short-term investments therefore exceed total financial debt, so leverage ratios against EBITDA are not meaningful for this year. The series covers 4 fiscal years, from 2022 to 2025. All figures are stated in TWD and are taken from the company's own published annual accounts, with no restatements or adjustments of our own. Debt balances are taken at the fiscal year-end date; net debt subtracts cash and short-term investments from total financial debt.