How this AMKR vs TSM comparison is calculated

All metrics are based on trailing twelve months (TTM) financial data, consensus analyst estimates, and standardized valuation ratios. Data is sourced from Financial Modeling Prep and SEC EDGAR. Figures are normalized to ensure a fair comparison between Amkor Technology, Inc. and Taiwan Semiconductor Manufacturing Company Limited. Analyst price targets and ratings are aggregated from Wall Street consensus as of 2026-05-19.

Quick verdict: Amkor Technology, Inc. vs Taiwan Semiconductor Manufacturing Company Limited in 2026

Amkor Technology, Inc. (AMKR) and Taiwan Semiconductor Manufacturing Company Limited (TSM) present a stark contrast in the semiconductor industry, with TSM emerging as the stronger contender across most key metrics. While Amkor Technology, Inc. offers a slightly lower price-to-book multiple, Taiwan Semiconductor Manufacturing Company Limited dominates in terms of revenue expansion, operational efficiency, and overall profitability. Furthermore, TSM enjoys a more favorable outlook from Wall Street analysts, reflecting its robust market position and substantial growth prospects. Not investment advice.

Amkor Technology, Inc. vs Taiwan Semiconductor Manufacturing Company Limited: key metrics side by side

A full side-by-side look at Amkor Technology, Inc. (AMKR) and Taiwan Semiconductor Manufacturing Company Limited (TSM) across earnings multiples, profitability, revenue momentum, and analyst sentiment — data updated 2026-05-19.

Relative valuation: AMKR vs TSM

When examining the relative valuation between Amkor Technology, Inc. and Taiwan Semiconductor Manufacturing Company Limited, distinct differences become apparent. TSM stock trades at an earnings multiple of 29.64x, which is notably lower than AMKR’s price-to-earnings ratio of 37.49x. This suggests that Taiwan Semiconductor Manufacturing Company Limited offers a more compelling entry point based on current earnings, particularly when considering its superior growth profile. On the other hand, Amkor Technology, Inc. boasts a price-to-book ratio of 3.61x, which is significantly lower than TSM’s 9.71x. This might initially suggest AMKR is a deeper value play based on assets, but the substantial divergence in profitability and growth necessitates a closer look at the overall picture.

Furthermore, a discounted cash flow (DCF) analysis, based on current consensus data, indicates that Taiwan Semiconductor Manufacturing Company Limited has a less severe negative DCF upside of -61.3%, compared to Amkor Technology, Inc.’s considerably lower -80.8%. This implies that TSM’s intrinsic value, while still below its current market price by this specific model, is perceived to be closer to fair value than that of AMKR. Despite AMKR’s lower P/B, the fundamental discount implied by its P/E and DCF suggests Taiwan Semiconductor Manufacturing Company Limited could be considered to carry a more attractive valuation for investors seeking robust performance at a reasonable price, especially given its industry leadership and long-term prospects.

Revenue momentum: Amkor Technology, Inc. vs Taiwan Semiconductor Manufacturing Company Limited

In the critical area of topline expansion, Taiwan Semiconductor Manufacturing Company Limited demonstrates a significantly more robust performance compared to Amkor Technology, Inc. TSM posted an impressive revenue growth rate of +33.0% year-over-year, showcasing its dominant position and strong demand within the global semiconductor fabrication market. This substantial expansion far outpaces AMKR, which recorded a more modest revenue growth of +6.2%. The divergence highlights Taiwan Semiconductor Manufacturing Company Limited’s crucial role in advanced chip manufacturing, serving a wide array of high-growth industries.

Beyond mere sales figures, the operational efficiency, as indicated by EBITDA margins, further underscores this disparity. Taiwan Semiconductor Manufacturing Company Limited commands an exceptional EBITDA margin of 71.17%, reflecting its scale, technological prowess, and pricing power. In contrast, Amkor Technology, Inc. operates with an EBITDA margin of 14.88%. This substantial gap in profitability margins suggests that TSM is not only growing faster but also converting a much larger portion of its revenue into operating profit. While future growth rates and estimates may vary depending on market conditions and economic cycles, the current data clearly points to Taiwan Semiconductor Manufacturing Company Limited possessing a far stronger growth trajectory and superior operational leverage within its sector. This gap may not persist indefinitely, but it’s a significant factor in current market assessments.

Profitability and cash generation: AMKR vs TSM

When scrutinizing profitability and cash conversion, Taiwan Semiconductor Manufacturing Company Limited stands in a league of its own when compared to Amkor Technology, Inc. TSM exhibits a remarkable net margin of 47.0%, demonstrating its unparalleled ability to translate revenue into bottom-line profit. This indicates superior cost management and significant pricing power in the semiconductor foundry business. Conversely, AMKR’s net margin rests at a more conservative 6.17%, reflecting the tighter margins typically associated with the outsourced semiconductor assembly and test (OSAT) sector. This profound difference in net income generation highlights the structural advantages enjoyed by Taiwan Semiconductor Manufacturing Company Limited.

Regarding cash generation, the free cash flow (FCF) yield provides further insight into how effectively each company converts profits into usable cash relative to its market capitalization. Taiwan Semiconductor Manufacturing Company Limited boasts an FCF yield of 1.78%, indicating a healthy generation of cash that can be reinvested, used for debt reduction, or returned to shareholders. Amkor Technology, Inc.’s free cash flow yield is slightly lower at 1.02%. While both companies’ return on equity (ROE) data is not available for a direct comparison, the superior net margins and FCF yield of TSM stock firmly establish its advantage in robust cash conversion and overall financial health. Investors prioritizing strong profitability and efficient cash generation would likely find Taiwan Semiconductor Manufacturing Company Limited a more attractive prospect.

Wall Street view: Amkor Technology, Inc. vs Taiwan Semiconductor Manufacturing Company Limited analyst ratings

The perspective from Wall Street analysts clearly favors Taiwan Semiconductor Manufacturing Company Limited over Amkor Technology, Inc. TSM commands a strong “Buy” consensus rating, with a significant 72.0% of analysts issuing a buy recommendation. Their aggregated price target for Taiwan Semiconductor Manufacturing Company Limited is $427.5, suggesting a potential upside of +8.0% from its current price. This optimistic sentiment reflects confidence in the company’s long-term growth trajectory and its pivotal role in the global technology landscape.

In contrast, Amkor Technology, Inc. carries a more cautious “Hold” consensus rating among analysts. Only 42.9% of analysts recommend buying AMKR, with a collective price target of $66.75. This target implies a modest potential upside of merely +1.1%. The less enthusiastic outlook for Amkor Technology, Inc. suggests that while the company is considered stable, its near-term growth catalysts or valuation appeal may not be as compelling to analysts as those of TSM. It’s important to remember that analyst targets may vary depending on future estimate revisions and shifts in market sentiment, but the current picture paints a clear preference for Taiwan Semiconductor Manufacturing Company Limited.

Which investor profile fits AMKR vs TSM?

For the growth investor, Taiwan Semiconductor Manufacturing Company Limited clearly stands out as the more compelling option. TSM’s impressive year-over-year revenue expansion of +33.0% dwarfs Amkor Technology, Inc.’s 6.2% growth. This reflects Taiwan Semiconductor Manufacturing Company Limited’s dominant position in the high-growth semiconductor fabrication industry, driven by insatiable demand for advanced chips across AI, HPC, and mobile sectors. Furthermore, TSM’s exceptional EBITDA margin of 71.17% compared to AMKR’s 14.88% indicates superior operational leverage and the ability to convert rapid sales growth into substantial profits. The strong “Buy” consensus from Wall Street analysts and a higher price target upside for Taiwan Semiconductor Manufacturing Company Limited further reinforce its appeal for those focused on capital appreciation driven by robust expansion.

Value investors might find the comparison more nuanced, but TSM still presents a strong case. While Amkor Technology, Inc. has a lower price-to-book ratio (3.61x vs TSM’s 9.71x), Taiwan Semiconductor Manufacturing Company Limited trades at a more attractive earnings multiple of 29.64x compared to AMKR’s 37.49x. Given TSM’s vastly superior profitability and growth prospects, its lower P/E implies that investors are getting more “earnings bang for their buck” relative to AMKR. The discounted cash flow analysis further supports TSM, indicating a less significant overvaluation at -61.3% compared to Amkor Technology, Inc.’s -80.8% DCF discount. Therefore, for value-oriented investors seeking a combination of reasonable valuation multiples alongside strong underlying fundamentals and market leadership, Taiwan Semiconductor Manufacturing Company Limited appears to be the better choice.

Lastly, for income investors, neither Amkor Technology, Inc. nor Taiwan Semiconductor Manufacturing Company Limited presents a significant opportunity. Both AMKR and TSM offer a minimal dividend yield of 0.01%. This reflects their primary focus on reinvesting earnings back into their capital-intensive businesses to fuel future growth and maintain technological leadership, rather than distributing substantial portions of profit to shareholders. Investors prioritizing regular, substantial dividend income would likely need to look elsewhere, as these two semiconductor giants are structured more as growth-oriented plays. This is not investment advice. Always do your own research.

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