TSM vs MTSI vs ADI Stock Comparison

Taiwan Semiconductor Manufacturing, MACOM Technology Solutions Holdings and Analog Devices Prices as of Oct 27, 2026 Peers: Industry group
ADI Analog Devices Inc
$425.35 +8.1% 1M +75.0% 1Y
Market cap
$208.13B
P/E
50.3x
Revenue (TTM)
$13.88B
Div. yield
0.01%
Semiconductor Manufacturing Technology
2 wins

Head to Head

11 decided of 12

Taiwan Semiconductor Manufacturing leads on 8 of the 12 questions below (Taiwan Semiconductor Manufacturing 8, Analog Devices 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.

QuestionTSMMTSIADILeader
Larger companyMarket capitalisation $2.28T $19.92B $208.13B TSM
Cheaper on earningsLower P/E, profitable companies only 29.0x 82.7x 50.3x TSM
Cheaper on forward earningsLower price / next fiscal year consensus EPS 26.0x 44.9x 34.5x TSM
Faster revenue growthRevenue growth, trailing twelve months +34.4% +28.4% +33.6% TSM
More profitableNet margin, trailing twelve months 55.0% 20.7% 29.8% TSM
Better return on capitalReturn on invested capital 33.4% 9.8% 10.2% TSM
Less leveragedLower net debt / EBITDA -1.0x -1.2x 1.0x MTSI
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.01% –
Better 1-year returnPrice return, last 12 months +46.5% +74.7% +75.0% ADI
Better 5-year returnAnnualised price return, 5 years +30.4%/yr +29.7%/yr +19.8%/yr TSM
Less volatileAnnualised volatility, 1 year 39.2% 66.2% 36.6% ADI
Higher overall scoreMean of the five percentile scores vs peers 74/100 58/100 62/100 TSM

Percentile Scorecard

TSMMTSIADI

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

AxisTSMMTSIADI
Valuation 67 #32 of 94 30 #66 of 94 50 #48 of 94
Growth 87 #13 of 92 81 #18 of 92 80 #19 of 92
Profitability 92 #8 of 90 69 #29 of 90 82 #17 of 90
Financial Health 68 #32 of 99 52 #48 of 99 31 #69 of 99
Shareholder Returns 56 #33 of 73 57 #32 of 73 69 #23 of 73
Overall 74 58 62
  • TSM ranked among 103 companies in Semiconductors
  • MTSI ranked among 103 companies in Semiconductors
  • ADI ranked among 103 companies in Semiconductors

Price Performance

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

Returns

PeriodTSMMTSIADISPY
1 month -3.0%-10.5%+8.1% -0.2%
3 months +11.4%+2.6%+16.3% +3.9%
6 months +11.4%-3.7%+11.0% +8.2%
Year to date +43.8%+49.3%+56.8% +12.9%
1 year +46.5%+74.7%+75.0% +12.3%
3 years +408.1%+255.1%+164.9% +87.4%
3 years, per year +72.0%+52.6%+38.4% +23.3%
5 years +276.6%+267.2%+146.6% +67.9%
5 years, per year +30.4%+29.7%+19.8% +10.9%
10 years +1,319.8%+600.1%+572.3% +261.1%
10 years, per year +30.4%+21.5%+21.0% +13.7%

Risk

MeasureTSMMTSIADISPY
Volatility, 1Y 39.2%66.2%36.6% 12.7%
Downside volatility, 1Y 39.1%76.0%36.5% 12.7%
Beta vs S&P 500, 1Y 2.142.381.73 1.00
Return / volatility, 1Y 1.181.132.05 0.97
Max drawdown, 5Y -57.1%-44.9%-32.5% -25.4%
From 52-week high -10.1%-37.6%-4.5% -1.2%
52-week high $485.91$409.68$445.48 $779.14
52-week low $275.06$144.13$225.20 $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.

MultipleTSMMTSIADI
P/E now vs peer median 28.8xmedian 45.6x 81.0xmedian 45.6x 50.0xmedian 45.6x
P/S now vs peer median 15.9xmedian 7.7x 16.8xmedian 7.7x 14.8xmedian 7.7x
EV/EBITDA now vs peer median 21.3xmedian 29.0x 69.8xmedian 29.0x 30.8xmedian 29.0x
P/FCF now vs peer median 26.8xmedian 40.6x 95.7xmedian 40.6x 41.7xmedian 40.6x
P/B now vs peer median 11.2xmedian 4.6x 12.7xmedian 4.6x 6.1xmedian 4.6x
PEG now vs peer median 0.81median 2.28 -7.69median 2.28 11.59median 2.28

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 monthsTSMMTSIADI
Revenue $142.94B $1.16B $13.88B
Gross profit $91.71B $658.07M $9.13B
Operating income $80.08B $210.84M $4.93B
Net income $74.55B $240.93M $4.14B
Free cash flow $84.59B $204.08M $4.94B
R&D $8.68B $272.63M $1.98B
EPS (diluted) $15.16 $3.07 $8.46
Cash & equivalents $98.36B $89.60M $2.17B
Total debt $22.36B $1.68B $9.12B
Shares (diluted) 5.19B 78.41M 488.84M
Enterprise value $1.91T $17.04B $194.66B

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
MetricTSMMTSIADI
P/E 28.8x 81.0x 50.0x
P/FCF 26.8x 95.7x 41.7x
P/Operating cash flow 26.8x 72.0x 37.2x
P/S 15.9x 16.8x 14.8x
P/B 11.2x 12.7x 6.1x
P/Tangible book 11.2x 13.2x 7.9x
EV/EBITDA 21.3x 69.8x 30.8x
EV/EBIT 27.1x 91.1x 43.1x
EV/Revenue 15.2x 16.5x 15.3x
EV/FCF 25.6x 94.1x 43.1x
EV/Operating cash flow 25.6x 70.8x 38.4x
PEG (3Y EPS CAGR) 0.81 -7.69 11.59

Growth

14 metrics
MetricTSMMTSIADI
Revenue growth (1Y) 34.4% 28.4% 33.6%
Revenue CAGR (3Y) 25.3% 19.8% 2.6%
Gross profit growth (1Y) 47.2% 32.5% 46.2%
Gross profit CAGR (3Y) 29.2% 17.3% 2.9%
Operating income growth (1Y) 52.1% 79.3% 93.0%
Operating income CAGR (3Y) 32.0% 17.8% 4.8%
Net income growth (1Y) 57.8% 444.6% 111.2%
Net income CAGR (3Y) 33.5% -7.7% 3.3%
EPS growth (1Y) 80.8% 433.4% 114.6%
EPS CAGR (3Y) 35.6% -10.5% 4.3%
Operating cash flow growth (1Y) 27.1% 18.9% 33.2%
Operating cash flow CAGR (3Y) 21.4% 15.4% 5.1%
Free cash flow growth (1Y) 27.1% 1.8% 34.2%
Free cash flow CAGR (3Y) 21.4% 10.8% 10.2%

Profitability

14 metrics
MetricTSMMTSIADI
Gross margin 64.2% 56.5% 65.8%
EBITDA margin 71.4% 23.6% 49.8%
Operating margin 56.0% 18.1% 35.5%
Pretax margin 60.0% 24.6% 33.9%
Net margin 55.0% 20.7% 29.8%
FCF margin 59.2% 17.5% 35.6%
Operating cash flow margin 59.2% 23.3% 39.9%
Return on equity 37.3% 16.3% 12.3%
Return on assets 7.1% 11.6% 8.6%
Return on invested capital 33.4% 9.8% 10.2%
Return on capital employed 8.4% 13.4% 11.6%
Asset turnover 0.1x 0.6x 0.3x
Cash conversion (OCF / net income) 1.1x 1.1x 1.3x
Stock comp / revenue 0.0% 7.2% 2.5%

Financial Health

11 metrics
MetricTSMMTSIADI
Debt / assets 2.3% 15.9% 18.8%
Debt / equity 0.0x 0.2x 0.3x
Net debt / EBITDA -1.0x -1.2x 1.0x
Debt / FCF 0.1x 1.7x 1.8x
Liabilities / assets 31.4% 28.2% 30.7%
Equity / assets 68.6% 71.8% 69.3%
Interest coverage 191.8x – 14.1x
Current ratio 2.5x 2.3x 1.3x
Quick ratio 2.0x 1.7x 0.8x
Cash ratio 1.8x 1.3x 0.4x
Altman Z-score 17.85 20.55 9.33

Shareholder Returns

7 metrics
MetricTSMMTSIADI
Dividend yield 0.9% – 1.0%
Net buyback yield – 0.2% 1.5%
Shareholder yield 0.9% 0.2% 2.5%
Payout ratio (earnings) – – 49.4%
Payout ratio (FCF) – – 41.4%
Dividend growth (1Y) – – 7.8%
Dividend CAGR (3Y) – – 7.6%

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.

ConsensusTSMMTSIADI
Forward P/E 26.0xFY2026 44.9xFY2026 34.5xFY2026
EPS, next fiscal year $16.82FY2026 $5.69FY2026 $12.33FY2026
EPS growth, next FY +60.3%FY2026 +64.0%FY2026 +58.3%FY2026
EPS growth, the year after +40.1% +42.9% +27.0%
Revenue, next fiscal year $178.59BFY2026 $1.35BFY2026 $15.85BFY2026
Revenue growth, next FY +48.0%FY2026 +39.4%FY2026 +43.8%FY2026
Revenue growth, the year after +41.0% +42.5% +19.8%
TSM estimates →MTSI estimates →ADI estimates →

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersTSMMTSIADI
Held by institutions 14.8% 95.8% 90.9%
Institutions holding 3,569 652 2,288
Change in shares held, QoQ -0.6% -1.3% +4.5%
Institutions buying 1,903 396 1,182
Institutions selling 1,292 189 820
Buyers to sellers 1.47 2.10 1.44
TSM holders →MTSI holders →ADI 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.

TSMMTSIADI
TSM 1.00 0.61 0.56
MTSI 0.61 1.00 0.58
ADI 0.56 0.58 1.00

Add a Peer

Largest companies in the same industry
TSM · Semiconductor Manufacturing
+MUMicron Technology +INTCIntel +TXNTexas Instruments +NXPINXP Semiconductors +UMCUnited Microelectronics +STMSTMicroelectronics +MCHPMicrochip Technology +ONOn Semiconductor
Plot all 25 Semiconductor Manufacturing stocks →

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TSM vs MUMicron Technology TSM vs INTCIntel TSM vs TXNTexas Instruments TSM vs NXPINXP Semiconductors

Frequently Asked Questions

Which is bigger, TSM, MTSI and ADI?

Taiwan Semiconductor Manufacturing (TSM) is the largest by market capitalisation: Taiwan Semiconductor Manufacturing (TSM) $2.28T, MACOM Technology Solutions Holdings (MTSI) $19.92B, Analog Devices (ADI) $208.13B.

Which stock is cheaper, TSM, MTSI and ADI?

Taiwan Semiconductor Manufacturing (TSM) trades on the lowest price-to-earnings ratio (Taiwan Semiconductor Manufacturing (TSM) 29.0x, MACOM Technology Solutions Holdings (MTSI) 82.7x, Analog Devices (ADI) 50.3x). On next year's consensus earnings, Taiwan Semiconductor Manufacturing (TSM) is cheapest (Taiwan Semiconductor Manufacturing (TSM) 26.0x, MACOM Technology Solutions Holdings (MTSI) 44.9x, Analog Devices (ADI) 34.5x). 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: Taiwan Semiconductor Manufacturing (TSM) +34.4%, MACOM Technology Solutions Holdings (MTSI) +28.4%, Analog Devices (ADI) +33.6%.

Which company is more profitable?

Taiwan Semiconductor Manufacturing (TSM) has the highest net margin (Taiwan Semiconductor Manufacturing (TSM) 55.0%, MACOM Technology Solutions Holdings (MTSI) 20.7%, Analog Devices (ADI) 29.8%). On return on invested capital, Taiwan Semiconductor Manufacturing (TSM) leads (Taiwan Semiconductor Manufacturing (TSM) 33.4%, MACOM Technology Solutions Holdings (MTSI) 9.8%, Analog Devices (ADI) 10.2%).

Which stock has performed better?

Over the past year Analog Devices (ADI) returned the most: Taiwan Semiconductor Manufacturing (TSM) +46.5%, MACOM Technology Solutions Holdings (MTSI) +74.7%, Analog Devices (ADI) +75.0%. Over five years, Taiwan Semiconductor Manufacturing (TSM) compounded fastest (Taiwan Semiconductor Manufacturing (TSM) +30.4%/yr, MACOM Technology Solutions Holdings (MTSI) +29.7%/yr, Analog Devices (ADI) +19.8%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Taiwan Semiconductor Manufacturing (TSM) 0.00%, MACOM Technology Solutions Holdings (MTSI) 0.00%, Analog Devices (ADI) 0.01%. Taiwan Semiconductor Manufacturing (TSM) and MACOM Technology Solutions Holdings (MTSI) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Analog Devices (ADI) has been the steadiest (Taiwan Semiconductor Manufacturing (TSM) 39.2%, MACOM Technology Solutions Holdings (MTSI) 66.2%, Analog Devices (ADI) 36.6%). Volatility measures how widely the price swings, not the risk of the business.

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

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.