CVX vs. TSM: Chevron vs. Taiwan Semiconductor Mfg Stock Comparison

November 11, 2026

How do Chevron (CVX) and Taiwan Semiconductor Mfg (TSM) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Chevron (CVX) is classified in the Energy sector (Energy), whereas Taiwan Semiconductor Mfg (TSM) belongs to Information Technology (Semiconductors & Semiconductor Equipment) — their GICS classifications point to very different parts of the market.

Chevron (CVX) trades as ordinary local shares, while Taiwan Semiconductor Mfg (TSM) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Chevron (CVX) and Taiwan Semiconductor Mfg (TSM)
Profile Item	CVX	TSM
Name	Chevron Corporation	Taiwan Semiconductor Manufacturing Company Ltd. ADR
Country/Region	United States	Taiwan
GICS Sector	Energy	Information Technology
GICS Industry Group	Energy	Semiconductors & Semiconductor Equipment
GICS Industry	Oil, Gas & Consumable Fuels	Semiconductors & Semiconductor Equipment
GICS Sub-Industry	Integrated Oil & Gas	Semiconductors
Market Capitalization	414.86 billion USD	1,947.21 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	January 2, 1962	October 9, 1997
Security Type	Common Stock	ADR

Price Performance

Cumulative Growth

CVX

TSM

GSPC

Chevron (CVX) vs. Taiwan Semiconductor Mfg (TSM), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Chevron (CVX) and Taiwan Semiconductor Mfg (TSM). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Chevron (CVX) and Taiwan Semiconductor Mfg (TSM). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Chevron (CVX) and Taiwan Semiconductor Mfg (TSM)
Metric	CVX	TSM
Total Return (1Y)	42.24%	37.26%
Total Return (3Y, Annualized)	19.22%	64.12%
Total Return (5Y, Annualized)	17.45%	28.19%

Risk Profile

Drawdown History

CVX

TSM

GSPC

Chevron (CVX) vs. Taiwan Semiconductor Mfg (TSM), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Chevron (CVX) and Taiwan Semiconductor Mfg (TSM). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Taiwan Semiconductor Mfg (TSM) has an aggressive beta of 1.45, indicating higher sensitivity to broad-market moves, while Chevron (CVX) is defensive at 0.50 and tends to be less market-sensitive — they sit on opposite ends of the beta spectrum.

Risk profile metrics for Chevron (CVX) and Taiwan Semiconductor Mfg (TSM)
Metric	CVX	TSM
Volatility (1Y, Annualized)	24.66%	41.69%
Beta (5Y)	0.50	1.45
Max Drawdown (5Y)	-24.95%	-56.47%
Avg. Volume (3M)	8.39M	11.20M

Risk-Adjusted Performance

Risk-Return Positioning

CVX and TSM are plotted by 1-year volatility (risk) and 1-year return. Each dashed Capital Allocation Line uses that stock's own industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Chevron (CVX) and Taiwan Semiconductor Mfg (TSM)
Metric	CVX	TSM
Sharpe Ratio (1Y)	1.54	0.79
Sortino Ratio (1Y)	2.26	1.15

Profitability

ROE (TTM)

Taiwan Semiconductor Mfg (TSM) at 41.86% sits in the top ROE quartile, while Chevron (CVX) at 13.85% is closer to the peer norm — stronger capital efficiency for TSM.

CVX

Energy industry group

13.85%

Max: 53.85%
Q3: 24.79%
CVX: 13.85%
Median: 12.85%
Q1: 2.03%
Min: -29.09%

TSM

Semiconductors & Semiconductor Equipment industry group

41.86%

Max: 52.82%
TSM: 41.86%
Q3: 22.26%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

Chevron (CVX) vs. Taiwan Semiconductor Mfg (TSM): A comparison of their ROE against their respective Energy and Semiconductors & Semiconductor Equipment industry group benchmarks.

Net Margin (TTM)

Taiwan Semiconductor Mfg (TSM) at 51.12% retains a top-quartile share of revenue as profit, ahead of Chevron (CVX) at 11.92%, which keeps about the industry-typical share.

CVX

Energy industry group

11.92%

Max: 56.92%
Q3: 22.92%
CVX: 11.92%
Median: 10.10%
Q1: 0.07%
Min: -27.38%

TSM

Semiconductors & Semiconductor Equipment industry group

51.12%

Max: 63.80%
TSM: 51.12%
Q3: 28.36%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

Chevron (CVX) vs. Taiwan Semiconductor Mfg (TSM): A comparison of their net margin against their respective Energy and Semiconductors & Semiconductor Equipment industry group benchmarks.

Operating Margin (TTM)

Taiwan Semiconductor Mfg (TSM) at 58.66% operates in the top operating margin quartile, ahead of Chevron (CVX) at 17.89%, which runs around its industry’s norm.

CVX

Energy industry group

17.89%

Max: 71.31%
Q3: 33.75%
Median: 18.73%
CVX: 17.89%
Q1: 6.94%
Min: -24.52%

TSM

Semiconductors & Semiconductor Equipment industry group

58.66%

TSM: 58.66%
Max: 58.66%
Q3: 30.23%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

Chevron (CVX) vs. Taiwan Semiconductor Mfg (TSM): A comparison of their operating margin against their respective Energy and Semiconductors & Semiconductor Equipment industry group benchmarks.

Profitability Metrics

Profitability metrics for Chevron (CVX) and Taiwan Semiconductor Mfg (TSM)
Metric	CVX	TSM
ROE (TTM)	13.85%	41.86%
ROA (TTM)	6.47%	20.58%
Net Margin (TTM)	11.92%	51.12%
Operating Margin (TTM)	17.89%	58.66%
Gross Margin (TTM)	44.39%	65.85%

Growth

Revenue Growth

Taiwan Semiconductor Mfg (TSM) at 31.61% sits in the top revenue growth quartile, while Chevron (CVX) at -4.64% is closer to the peer norm — faster top-line expansion for TSM.

Chevron (CVX) vs. Taiwan Semiconductor Mfg (TSM): A comparison of their Revenue Growth across different time periods.

EPS Growth

Taiwan Semiconductor Mfg (TSM) at 46.41% sits in the top EPS growth quartile, while Chevron (CVX) at -31.79% is closer to the peer norm — faster per-share earnings growth for TSM.

Chevron (CVX) vs. Taiwan Semiconductor Mfg (TSM): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Chevron (CVX) and Taiwan Semiconductor Mfg (TSM)
Metric	CVX	TSM
Revenue Growth (YoY)	-4.64%	31.61%
Revenue Growth (3Y CAGR)	-7.85%	18.94%
EPS Growth (YoY)	-31.79%	46.41%
EPS Growth (3Y CAGR)	-28.69%	19.12%

Financial Strength

Current Ratio (MRQ)

Both Chevron (CVX) at 1.34 and Taiwan Semiconductor Mfg (TSM) at 2.51 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

CVX

Energy industry group

1.34

Max: 3.64
Q3: 2.21
Median: 1.41
CVX: 1.34
Q1: 0.88
Min: 0.24

TSM

Semiconductors & Semiconductor Equipment industry group

2.51

Max: 10.33
Q3: 5.62
Median: 3.33
TSM: 2.51
Q1: 2.35
Min: 1.03

Chevron (CVX) vs. Taiwan Semiconductor Mfg (TSM): A comparison of their current ratio against their respective Energy and Semiconductors & Semiconductor Equipment industry group benchmarks.

Debt / Equity (MRQ)

Chevron (CVX) at 0.17 keeps leverage in the lower industry quartile, while Taiwan Semiconductor Mfg (TSM) at 0.12 runs a more typical debt-to-equity mix.

CVX

Energy industry group

0.17

Max: 1.75
Q3: 0.93
Median: 0.54
Q1: 0.30
CVX: 0.17
Min: 0.00

TSM

Semiconductors & Semiconductor Equipment industry group

0.12

Max: 1.46
Q3: 0.65
Median: 0.27
TSM: 0.12
Q1: 0.04
Min: 0.00

Chevron (CVX) vs. Taiwan Semiconductor Mfg (TSM): A comparison of their debt-to-equity ratio against their respective Energy and Semiconductors & Semiconductor Equipment industry group benchmarks.

Financial Strength Metrics

Financial strength metrics for Chevron (CVX) and Taiwan Semiconductor Mfg (TSM)
Metric	CVX	TSM
Current Ratio (MRQ)	1.34	2.51
Debt / Equity (MRQ)	0.17	0.12
Net Debt / EBITDA	0.36	-0.89

Dividends

Dividend Yield (TTM)

Chevron (CVX) at 3.31% pays an industry-typical yield; Taiwan Semiconductor Mfg (TSM) at 1.70% is above its entire peer range — the higher number, but one that calls for a look at payout sustainability before treating it as an advantage.

CVX

Energy industry group

3.31%

Max: 8.57%
Q3: 3.58%
CVX: 3.31%
Median: 1.71%
Q1: 0.00%
Min: 0.00%

TSM

Semiconductors & Semiconductor Equipment industry group

1.70%

TSM: 1.70%
Max: 1.37%
Q3: 0.65%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Chevron (CVX) vs. Taiwan Semiconductor Mfg (TSM): A comparison of their dividend yield against their respective Energy and Semiconductors & Semiconductor Equipment industry group benchmarks.

Dividend Payout Ratio (TTM)

Chevron (CVX) at 51.76% pays out a band-typical share of earnings, while Taiwan Semiconductor Mfg (TSM) at 24.46% distributes more than its industry norm — less retained, thinner cover.

CVX

Energy industry group

51.76%

Max: 133.24%
Q3: 53.31%
CVX: 51.76%
Median: 25.24%
Q1: 0.00%
Min: 0.00%

TSM

Semiconductors & Semiconductor Equipment industry group

24.46%

Max: 49.64%
TSM: 24.46%
Q3: 21.71%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Chevron (CVX) vs. Taiwan Semiconductor Mfg (TSM): A comparison of their payout ratio against their respective Energy and Semiconductors & Semiconductor Equipment industry group benchmarks.

Dividend Metrics

Dividend metrics for Chevron (CVX) and Taiwan Semiconductor Mfg (TSM)
Metric	CVX	TSM
Dividend Yield (TTM)	3.31%	1.70%
Dividend Payout Ratio (TTM)	51.76%	24.46%

Valuation

P/E Ratio (TTM)

Both Chevron (CVX) at 15.61 and Taiwan Semiconductor Mfg (TSM) at 24.33 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

CVX

Energy industry group

15.61

Max: 39.54
Q3: 21.72
CVX: 15.61
Median: 12.19
Q1: 7.71
Min: 2.99

TSM

Semiconductors & Semiconductor Equipment industry group

24.33

Max: 110.34
Q3: 66.81
Median: 37.02
TSM: 24.33
Q1: 23.96
Min: 8.12

Chevron (CVX) vs. Taiwan Semiconductor Mfg (TSM): A comparison of their P/E ratio against their respective Energy and Semiconductors & Semiconductor Equipment industry group benchmarks.

P/S Ratio (TTM)

Taiwan Semiconductor Mfg (TSM) at 0.39 sits in the cheaper P/S ratio quartile while Chevron (CVX) at 1.83 prices around its industry’s middle — TSM costs less per dollar of sales, though read it alongside growth and margins.

CVX

Energy industry group

1.83

Max: 5.40
Q3: 2.85
CVX: 1.83
Median: 1.69
Q1: 0.88
Min: 0.00

TSM

Semiconductors & Semiconductor Equipment industry group

0.39

Max: 21.42
Q3: 12.27
Median: 5.76
Q1: 2.73
TSM: 0.39
Min: 0.00

Chevron (CVX) vs. Taiwan Semiconductor Mfg (TSM): A comparison of their P/S ratio against their respective Energy and Semiconductors & Semiconductor Equipment industry group benchmarks.

P/B Ratio (MRQ)

Chevron (CVX) at 2.13 sits near its industry’s typical P/B ratio, while Taiwan Semiconductor Mfg (TSM) at 71.65 prices above its benchmark range — TSM looks rich relative to book.

CVX

Energy industry group

2.13

Max: 4.21
Q3: 2.38
CVX: 2.13
Median: 1.51
Q1: 1.08
Min: 0.01

TSM

Semiconductors & Semiconductor Equipment industry group

71.65

TSM: 71.65
Max: 14.06
Q3: 7.44
Median: 4.29
Q1: 2.30
Min: 0.20

Chevron (CVX) vs. Taiwan Semiconductor Mfg (TSM): A comparison of their P/B ratio against their respective Energy and Semiconductors & Semiconductor Equipment industry group benchmarks.

Valuation Metrics

Valuation metrics for Chevron (CVX) and Taiwan Semiconductor Mfg (TSM)
Metric	CVX	TSM
P/E Ratio (TTM)	15.61	24.33
P/S Ratio (TTM)	1.83	0.39
P/B Ratio (MRQ)	2.13	71.65
Free Cash Flow Yield (TTM)	6.28%	61.78%