ASX vs MTSI vs TSM Stock Comparison

ASE Technology Holding, MACOM Technology Solutions Holdings and Taiwan Semiconductor Manufacturing Prices as of Oct 23, 2026 Peers: Industry group
1 more company in this comparison (GFS) Create a free account to keep reading and compare up to 10 companies.

Head to Head

11 decided of 12

Taiwan Semiconductor Manufacturing leads on 8 of the 12 questions below (Taiwan Semiconductor Manufacturing 8, ASE Technology Holding 2, MACOM Technology Solutions Holdings 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionASXMTSITSMLeader
Larger companyMarket capitalisation $86.69B $18.58B $2.20T TSM
Cheaper on earningsLower P/E, profitable companies only 44.4x 77.1x 28.0x TSM
Cheaper on forward earningsLower price / next fiscal year consensus EPS 30.7x 41.5x 25.0x TSM
Faster revenue growthRevenue growth, trailing twelve months +18.2% +28.4% +34.4% TSM
More profitableNet margin, trailing twelve months 8.5% 20.7% 55.0% TSM
Better return on capitalReturn on invested capital 11.1% 9.8% 33.4% TSM
Less leveragedLower net debt / EBITDA 1.1x -1.2x -1.0x MTSI
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months +201.8% +69.6% +43.8% ASX
Better 5-year returnAnnualised price return, 5 years +41.6%/yr +28.9%/yr +29.7%/yr ASX
Less volatileAnnualised volatility, 1 year 57.9% 66.1% 39.1% TSM
Higher overall scoreMean of the five percentile scores vs peers 60/100 58/100 74/100 TSM

Percentile Scorecard

ASXMTSITSM

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisASXMTSITSM
Valuation 75 #25 of 95 29 #68 of 95 67 #32 of 95
Growth 78 #21 of 93 80 #19 of 93 87 #13 of 93
Profitability 68 #30 of 91 69 #29 of 91 92 #8 of 91
Financial Health 17 #85 of 102 55 #47 of 102 69 #32 of 102
Shareholder Returns 61 #30 of 76 56 #34 of 76 55 #35 of 76
Overall 60 58 74
  • ASX ranked among 104 companies in Semiconductors
  • MTSI ranked among 104 companies in Semiconductors
  • TSM ranked among 104 companies in Semiconductors

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodASXMTSITSMSPY
1 month -11.9%-14.4%-6.4% -1.0%
3 months +5.0%-11.5%+3.6% +2.9%
6 months +20.9%-17.9%+3.9% +6.4%
Year to date +140.3%+37.9%+37.6% +11.4%
1 year +201.8%+69.6%+43.8% +13.1%
3 years +401.2%+215.2%+356.3% +79.4%
3 years, per year +71.2%+46.7%+65.9% +21.5%
5 years +468.1%+255.3%+266.1% +67.7%
5 years, per year +41.6%+28.9%+29.7% +10.9%
10 years +554.7%+518.3%+1,245.5% +255.2%
10 years, per year +20.7%+20.0%+29.7% +13.5%

Risk

MeasureASXMTSITSMSPY
Volatility, 1Y 57.9%66.1%39.1% 12.7%
Downside volatility, 1Y 62.4%76.0%39.1% 12.7%
Beta vs S&P 500, 1Y 2.572.372.12 1.00
Return / volatility, 1Y 3.491.051.12 1.03
Max drawdown, 5Y -43.1%-44.9%-57.1% -25.4%
From 52-week high -18.8%-42.3%-13.9% -2.5%
52-week high $47.62$409.68$485.91 $779.14
52-week low $12.82$139.31$275.06 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleASXMTSITSM
P/E now vs peer median 43.0xmedian 41.5x 74.8xmedian 41.5x 27.6xmedian 41.5x
P/S now vs peer median 3.8xmedian 6.9x 15.5xmedian 6.9x 15.2xmedian 6.9x
EV/EBITDA now vs peer median 19.7xmedian 27.3x 64.4xmedian 27.3x 20.3xmedian 27.3x
P/FCF now vs peer median 7.1xmedian 35.6x 88.4xmedian 35.6x 25.6xmedian 35.6x
P/B now vs peer median 7.0xmedian 4.2x 11.7xmedian 4.2x 10.7xmedian 4.2x
PEG now vs peer median 5.54median 2.31 -7.10median 2.31 0.77median 2.31

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsASXMTSITSM
Revenue $22.92B $1.16B $142.94B
Gross profit $4.46B $658.07M $91.71B
Operating income $2.24B $210.84M $80.08B
Net income $2.65B $240.93M $74.55B
Free cash flow $12.11B $204.08M $84.59B
R&D $1.18B $272.63M $8.68B
EPS (diluted) $0.88 $3.07 $15.16
Cash & equivalents $2.86B $89.60M $98.36B
Total debt $31.57B $1.68B $22.36B
Shares (diluted) 2.21B 78.41M 5.19B
Enterprise value $74.70B $15.70B $1.83T

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricASXMTSITSM
P/E 43.0x 74.8x 27.6x
P/FCF 7.1x 88.4x 25.6x
P/Operating cash flow 15.9x 66.5x 25.6x
P/S 3.8x 15.5x 15.2x
P/B 7.0x 11.7x 10.7x
P/Tangible book 8.5x 12.2x 10.7x
EV/EBITDA 19.7x 64.4x 20.3x
EV/EBIT 40.8x 84.0x 25.9x
EV/Revenue 4.0x 15.2x 14.5x
EV/FCF 7.5x 86.8x 24.5x
EV/Operating cash flow 16.8x 65.3x 24.5x
PEG (3Y EPS CAGR) 5.54 -7.10 0.77

Growth

14 metrics
MetricASXMTSITSM
Revenue growth (1Y) 18.2% 28.4% 34.4%
Revenue CAGR (3Y) 3.6% 19.8% 25.3%
Gross profit growth (1Y) 37.8% 32.5% 47.2%
Gross profit CAGR (3Y) 6.5% 17.3% 29.2%
Operating income growth (1Y) 68.3% 79.3% 52.1%
Operating income CAGR (3Y) 4.3% 17.8% 32.0%
Net income growth (1Y) 83.5% 444.6% 57.8%
Net income CAGR (3Y) 3.2% -7.7% 33.5%
EPS growth (1Y) 81.8% 433.4% 80.8%
EPS CAGR (3Y) 7.8% -10.5% 35.6%
Operating cash flow growth (1Y) 51.2% 18.9% 27.1%
Operating cash flow CAGR (3Y) 13.0% 15.4% 21.4%
Free cash flow growth (1Y) 57.3% 1.8% 27.1%
Free cash flow CAGR (3Y) 27.4% 10.8% 21.4%

Profitability

14 metrics
MetricASXMTSITSM
Gross margin 19.5% 56.5% 64.2%
EBITDA margin 20.2% 23.6% 71.4%
Operating margin 9.8% 18.1% 56.0%
Pretax margin 10.7% 24.6% 60.0%
Net margin 8.5% 20.7% 55.0%
FCF margin 52.9% 17.5% 59.2%
Operating cash flow margin 23.6% 23.3% 59.2%
Return on equity 22.0% 16.3% 37.3%
Return on assets 8.4% 11.6% 7.1%
Return on invested capital 11.1% 9.8% 33.4%
Return on capital employed 8.4% 13.4% 8.4%
Asset turnover 0.7x 0.6x 0.1x
Cash conversion (OCF / net income) 2.0x 1.1x 1.1x
Stock comp / revenue – 7.2% 0.0%

Financial Health

11 metrics
MetricASXMTSITSM
Debt / assets 25.2% 15.9% 2.3%
Debt / equity 0.7x 0.2x 0.0x
Net debt / EBITDA 1.1x -1.2x -1.0x
Debt / FCF 0.7x 1.7x 0.1x
Liabilities / assets 63.7% 28.2% 31.4%
Equity / assets 36.3% 71.8% 68.6%
Interest coverage 9.9x – 191.8x
Current ratio 0.3x 2.3x 2.5x
Quick ratio 1.5x 1.7x 2.0x
Cash ratio 0.6x 1.3x 1.8x
Altman Z-score – 19.08 17.22

Shareholder Returns

7 metrics
MetricASXMTSITSM
Dividend yield 1.0% – 0.9%
Net buyback yield – 0.2% –
Shareholder yield 1.0% 0.2% 0.9%
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusASXMTSITSM
Forward P/E 30.7xFY2026 41.5xFY2026 25.0xFY2026
EPS, next fiscal year $1.26FY2026 $5.69FY2026 $16.72FY2026
EPS growth, next FY +125.0%FY2026 +64.0%FY2026 +59.4%FY2026
EPS growth, the year after +38.1% +42.7% +39.4%
Revenue, next fiscal year $24.29BFY2026 $1.35BFY2026 $177.84BFY2026
Revenue growth, next FY +19.3%FY2026 +39.4%FY2026 +47.4%FY2026
Revenue growth, the year after +32.0% +42.5% +40.2%
ASX estimates →MTSI estimates →TSM estimates →

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersASXMTSITSM
Held by institutions 6.9% 95.8% 14.8%
Institutions holding 482 652 3,568
Change in shares held, QoQ -2.5% -1.3% -0.6%
Institutions buying 308 396 1,902
Institutions selling 133 189 1,292
Buyers to sellers 2.32 2.10 1.47
ASX holders →MTSI holders →TSM holders →

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

ASXMTSITSM
ASX 1.00 0.69 0.72
MTSI 0.69 1.00 0.61
TSM 0.72 0.61 1.00

Add a Peer

Largest companies in the same industry
ASX · Semiconductor Packaging and Testing
+MUMicron Technology +INTCIntel +AMATApplied Materials +UMCUnited Microelectronics +MCHPMicrochip Technology +GFSGlobalfoundries +FNFabrinet +AMKRAmkor Technology
Plot all 21 Semiconductor Packaging and Testing stocks → Plot all 26 Semiconductor Manufacturing stocks →

Related Comparisons

ASX vs MUMicron Technology ASX vs INTCIntel ASX vs AMATApplied Materials ASX vs UMCUnited Microelectronics

Frequently Asked Questions

Which is bigger, ASX, MTSI and TSM?

Taiwan Semiconductor Manufacturing (TSM) is the largest by market capitalisation: ASE Technology Holding (ASX) $86.69B, MACOM Technology Solutions Holdings (MTSI) $18.58B, Taiwan Semiconductor Manufacturing (TSM) $2.20T.

Which stock is cheaper, ASX, MTSI and TSM?

Taiwan Semiconductor Manufacturing (TSM) trades on the lowest price-to-earnings ratio (ASE Technology Holding (ASX) 44.4x, MACOM Technology Solutions Holdings (MTSI) 77.1x, Taiwan Semiconductor Manufacturing (TSM) 28.0x). On next year's consensus earnings, Taiwan Semiconductor Manufacturing (TSM) is cheapest (ASE Technology Holding (ASX) 30.7x, MACOM Technology Solutions Holdings (MTSI) 41.5x, Taiwan Semiconductor Manufacturing (TSM) 25.0x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Taiwan Semiconductor Manufacturing (TSM) grew revenue fastest over the trailing twelve months: ASE Technology Holding (ASX) +18.2%, MACOM Technology Solutions Holdings (MTSI) +28.4%, Taiwan Semiconductor Manufacturing (TSM) +34.4%.

Which company is more profitable?

Taiwan Semiconductor Manufacturing (TSM) has the highest net margin (ASE Technology Holding (ASX) 8.5%, MACOM Technology Solutions Holdings (MTSI) 20.7%, Taiwan Semiconductor Manufacturing (TSM) 55.0%). On return on invested capital, Taiwan Semiconductor Manufacturing (TSM) leads (ASE Technology Holding (ASX) 11.1%, MACOM Technology Solutions Holdings (MTSI) 9.8%, Taiwan Semiconductor Manufacturing (TSM) 33.4%).

Which stock has performed better?

Over the past year ASE Technology Holding (ASX) returned the most: ASE Technology Holding (ASX) +201.8%, MACOM Technology Solutions Holdings (MTSI) +69.6%, Taiwan Semiconductor Manufacturing (TSM) +43.8%. Over five years, ASE Technology Holding (ASX) compounded fastest (ASE Technology Holding (ASX) +41.6%/yr, MACOM Technology Solutions Holdings (MTSI) +28.9%/yr, Taiwan Semiconductor Manufacturing (TSM) +29.7%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Taiwan Semiconductor Manufacturing (TSM) has been the steadiest (ASE Technology Holding (ASX) 57.9%, MACOM Technology Solutions Holdings (MTSI) 66.1%, Taiwan Semiconductor Manufacturing (TSM) 39.1%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ASX, MTSI and TSM?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Taiwan Semiconductor Manufacturing (TSM) leads on 8. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.