TSM vs. UMC: Taiwan Semiconductor Mfg vs. United Microelectronics Stock Comparison

November 11, 2026

How do Taiwan Semiconductor Mfg (TSM) and United Microelectronics (UMC) 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

Taiwan Semiconductor Mfg (TSM) and United Microelectronics (UMC) are both classified in the Semiconductors sub-industry within the broader Semiconductors & Semiconductor Equipment industry, placing them in the closest GICS peer bucket.

Both Taiwan Semiconductor Mfg (TSM) and United Microelectronics (UMC) trade as ADRs — their core financials are comparable, but keep FX, depositary-program fees, and dividend withholding in view for each.

Company profile comparison for Taiwan Semiconductor Mfg (TSM) and United Microelectronics (UMC)
Profile Item	TSM	UMC
Name	Taiwan Semiconductor Manufacturing Company Ltd. ADR	United Microelectronics Corp. ADR
Country/Region	Taiwan	Taiwan
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Semiconductors & Semiconductor Equipment	Semiconductors & Semiconductor Equipment
GICS Industry	Semiconductors & Semiconductor Equipment	Semiconductors & Semiconductor Equipment
GICS Sub-Industry	Semiconductors	Semiconductors
Market Capitalization	1,947.21 billion USD	34.73 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	October 9, 1997	September 19, 2000
Security Type	ADR	ADR

Price Performance

Cumulative Growth

TSM

UMC

GSPC

Taiwan Semiconductor Mfg (TSM) vs. United Microelectronics (UMC), 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 Taiwan Semiconductor Mfg (TSM) and United Microelectronics (UMC). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Taiwan Semiconductor Mfg (TSM) and United Microelectronics (UMC)
Metric	TSM	UMC
Total Return (1Y)	37.26%	102.63%
Total Return (3Y, Annualized)	64.12%	31.57%
Total Return (5Y, Annualized)	28.19%	11.51%

Risk Profile

Drawdown History

TSM

UMC

GSPC

Taiwan Semiconductor Mfg (TSM) vs. United Microelectronics (UMC), 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 Taiwan Semiconductor Mfg (TSM) and United Microelectronics (UMC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Taiwan Semiconductor Mfg (TSM) and United Microelectronics (UMC)
Metric	TSM	UMC
Volatility (1Y, Annualized)	41.69%	67.94%
Beta (5Y)	1.45	1.77
Max Drawdown (5Y)	-56.47%	-54.30%
Avg. Volume (3M)	11.20M	11.82M

Risk-Adjusted Performance

Risk-Return Positioning

TSM and UMC are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Taiwan Semiconductor Mfg (TSM) and United Microelectronics (UMC)
Metric	TSM	UMC
Sharpe Ratio (1Y)	0.79	1.45
Sortino Ratio (1Y)	1.15	2.35

Profitability

ROE (TTM)

Taiwan Semiconductor Mfg (TSM) at 41.86% sits in the top ROE quartile, while United Microelectronics (UMC) at 20.37% is closer to the peer norm — stronger capital efficiency for TSM.

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%

UMC

Semiconductors & Semiconductor Equipment industry group

20.37%

Max: 52.82%
Q3: 22.26%
UMC: 20.37%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

Taiwan Semiconductor Mfg (TSM) vs. United Microelectronics (UMC): A comparison of their ROE against the Semiconductors & Semiconductor Equipment industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both Taiwan Semiconductor Mfg (TSM) at 51.12% and United Microelectronics (UMC) at 31.95% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

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%

UMC

Semiconductors & Semiconductor Equipment industry group

31.95%

Max: 63.80%
UMC: 31.95%
Q3: 28.36%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

Taiwan Semiconductor Mfg (TSM) vs. United Microelectronics (UMC): A comparison of their net margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Operating Margin (TTM)

Taiwan Semiconductor Mfg (TSM) at 58.66% operates in the top operating margin quartile, ahead of United Microelectronics (UMC) at 25.09%, which runs around its industry’s norm.

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%

UMC

Semiconductors & Semiconductor Equipment industry group

25.09%

Max: 58.66%
Q3: 30.23%
UMC: 25.09%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

Taiwan Semiconductor Mfg (TSM) vs. United Microelectronics (UMC): A comparison of their operating margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Profitability Metrics

Profitability metrics for Taiwan Semiconductor Mfg (TSM) and United Microelectronics (UMC)
Metric	TSM	UMC
ROE (TTM)	41.86%	20.37%
ROA (TTM)	20.58%	5.79%
Net Margin (TTM)	51.12%	31.95%
Operating Margin (TTM)	58.66%	25.09%
Gross Margin (TTM)	65.85%	31.72%

Growth

Revenue Growth

Taiwan Semiconductor Mfg (TSM) at 31.61% sits in the top revenue growth quartile, while United Microelectronics (UMC) at 2.26% is closer to the peer norm — faster top-line expansion for TSM.

Taiwan Semiconductor Mfg (TSM) vs. United Microelectronics (UMC): 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 United Microelectronics (UMC) at -12.57% is closer to the peer norm — faster per-share earnings growth for TSM.

Taiwan Semiconductor Mfg (TSM) vs. United Microelectronics (UMC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Taiwan Semiconductor Mfg (TSM) and United Microelectronics (UMC)
Metric	TSM	UMC
Revenue Growth (YoY)	31.61%	2.26%
Revenue Growth (3Y CAGR)	18.94%	-5.19%
EPS Growth (YoY)	46.41%	-12.57%
EPS Growth (3Y CAGR)	19.12%	-21.92%

Financial Strength

Current Ratio (MRQ)

Both Taiwan Semiconductor Mfg (TSM) at 2.51 and United Microelectronics (UMC) at 3.27 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

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

UMC

Semiconductors & Semiconductor Equipment industry group

3.27

Max: 10.33
Q3: 5.62
Median: 3.33
UMC: 3.27
Q1: 2.35
Min: 1.03

Taiwan Semiconductor Mfg (TSM) vs. United Microelectronics (UMC): A comparison of their current ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Debt / Equity (MRQ)

Both Taiwan Semiconductor Mfg (TSM) at 0.12 and United Microelectronics (UMC) at 0.17 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

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

UMC

Semiconductors & Semiconductor Equipment industry group

0.17

Max: 1.46
Q3: 0.65
Median: 0.27
UMC: 0.17
Q1: 0.04
Min: 0.00

Taiwan Semiconductor Mfg (TSM) vs. United Microelectronics (UMC): A comparison of their debt-to-equity ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Taiwan Semiconductor Mfg (TSM) and United Microelectronics (UMC)
Metric	TSM	UMC
Current Ratio (MRQ)	2.51	3.27
Debt / Equity (MRQ)	0.12	0.17
Net Debt / EBITDA	-0.89	-0.60

Dividends

Dividend Yield (TTM)

Both Taiwan Semiconductor Mfg (TSM) at 1.70% and United Microelectronics (UMC) at 19.43% yield above their industries’ entire benchmark ranges — high enough that dividend safety, not income, becomes the first question.

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%

UMC

Semiconductors & Semiconductor Equipment industry group

19.43%

UMC: 19.43%
Max: 1.37%
Q3: 0.65%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Taiwan Semiconductor Mfg (TSM) vs. United Microelectronics (UMC): A comparison of their dividend yield against the Semiconductors & Semiconductor Equipment industry group benchmark.

Dividend Payout Ratio (TTM)

Both Taiwan Semiconductor Mfg (TSM) at 24.46% and United Microelectronics (UMC) at 37.46% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

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%

UMC

Semiconductors & Semiconductor Equipment industry group

37.46%

Max: 49.64%
UMC: 37.46%
Q3: 21.71%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Taiwan Semiconductor Mfg (TSM) vs. United Microelectronics (UMC): A comparison of their payout ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Dividend Metrics

Dividend metrics for Taiwan Semiconductor Mfg (TSM) and United Microelectronics (UMC)
Metric	TSM	UMC
Dividend Yield (TTM)	1.70%	19.43%
Dividend Payout Ratio (TTM)	24.46%	37.46%

Valuation

P/E Ratio (TTM)

United Microelectronics (UMC) at 13.07 sits in the cheaper P/E ratio quartile, while Taiwan Semiconductor Mfg (TSM) at 24.33 is closer to its industry’s usual earnings multiple — a discount for UMC, though growth and earnings durability still matter.

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

UMC

Semiconductors & Semiconductor Equipment industry group

13.07

Max: 110.34
Q3: 66.81
Median: 37.02
Q1: 23.96
UMC: 13.07
Min: 8.12

Taiwan Semiconductor Mfg (TSM) vs. United Microelectronics (UMC): A comparison of their P/E ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

P/S Ratio (TTM)

Both Taiwan Semiconductor Mfg (TSM) at 0.39 and United Microelectronics (UMC) at 0.13 fetch a relatively low price per dollar of sales, landing in the cheaper P/S ratio quartile of their industries.

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

UMC

Semiconductors & Semiconductor Equipment industry group

0.13

Max: 21.42
Q3: 12.27
Median: 5.76
Q1: 2.73
UMC: 0.13
Min: 0.00

Taiwan Semiconductor Mfg (TSM) vs. United Microelectronics (UMC): A comparison of their P/S ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

P/B Ratio (MRQ)

United Microelectronics (UMC) at 2.39 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.

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

UMC

Semiconductors & Semiconductor Equipment industry group

2.39

Max: 14.06
Q3: 7.44
Median: 4.29
UMC: 2.39
Q1: 2.30
Min: 0.20

Taiwan Semiconductor Mfg (TSM) vs. United Microelectronics (UMC): A comparison of their P/B ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Valuation Metrics

Valuation metrics for Taiwan Semiconductor Mfg (TSM) and United Microelectronics (UMC)
Metric	TSM	UMC
P/E Ratio (TTM)	24.33	13.07
P/S Ratio (TTM)	0.39	0.13
P/B Ratio (MRQ)	71.65	2.39
Free Cash Flow Yield (TTM)	61.78%	129.43%