TSMC Stock: Undervaluation Persists Ahead Of Q2 2024 (NYSE:TSM)

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Thesis

In my previous article on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), I rated the stock as a “strong buy” explaining that my near-term stock price estimate stood at $238.47, which suggested a 69.8% upside from the stock price at that

TABLE OF ASSUMPTIONS
(Current data)
Assumptions Part 1
Equity Market Price 738,780.00
Debt Value 31,567.70
Cost of Debt 1.16%
Tax Rate 14.51%
10y Treasury 4.289%
Beta 1.07
Market Return 10.50%
Cost of Equity 10.93%
Assumptions Part 2
CapEx 25,912.30
Capex Margin 36.90%
Net Income 26,799.50
Interest 366.90
Tax 4,546.90
D&A 17,873.10
Ebitda 49,586.40
D&A Margin 25.45%
Revenue 70,227.0
R&D Expense Margin 15.73%

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