TSEM
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | 27.55 | 6.49 | 17.85 | 28.55 |
| Price to Sales | 3.99 | 2.37 | 2.82 | 2.85 |
| Book Value Per Common Share | 23.79 | 21.95 | 17.20 | 15.03 |
| Price to Book | 2.17 | 1.39 | 2.51 | 2.64 |
| Price to Operating Cash Flow | 12.76 | 4.98 | 8.92 | 10.20 |
| Price to Free Cash Flow | 457.05 | 14.51 | 28.91 | 39.97 |
| Enterprise Value to EBITDA | 117806.53 | 39917.89 | 80466.83 | 98872.17 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Price to Earnings | 150.63 | 103.21 | 99.06 | 105.12 | 90.33 |
| Price to Sales | 20.49 | 13.03 | 11.11 | 14.83 | 13.29 |
| Book Value Per Common Share | 25.38 | 24.92 | 24.30 | 23.79 | 23.59 |
| Price to Book | 2.85 | 1.74 | 1.47 | 2.17 | 1.88 |
| Price to Operating Cash Flow | 58.15 | 39.53 | 42.36 | 56.97 | 39.47 |
| Price to Free Cash Flow | 225.59 | 406.66 | -227.57 | 1966.03 | -1708.88 |
| Enterprise Value to EBITDA | 638121.86 | 423437.62 | 372004.86 | 362168.33 | 405899.66 |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | -60.21 | 94.21 | 74.10 | |
| Revenue YoY | 0.94 | -15.20 | 11.24 | |
| EBITDA YoY | -42.44 | 43.54 | 36.29 | |
| Net Profit YoY | -59.91 | 95.98 | 76.37 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Earning YoY | 14.29 | 16.67 | -26.53 | 0.00 | |
| Revenue YoY | 6.34 | 3.88 | -7.50 | 4.50 | |
| EBITDA YoY | 10.95 | 6.88 | -32.48 | 31.00 | |
| Net Profit YoY | 15.24 | 15.97 | -27.20 | 0.90 |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | 10.96 | 11.21 | 9.20 | 7.06 |
| Quick Ratio | 5.12 | 5.11 | 3.05 | 3.35 |
| Current Ratio | 6.18 | 6.17 | 3.86 | 4.33 |
| Debt to Equity | 0.17 | 0.20 | 0.35 | 0.38 |
| Long-Term Debt to Equity | 0.06 | 0.09 | 0.14 | 0.21 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Cash Per Common Share | 10.91 | 10.80 | 10.59 | 10.93 | 10.83 |
| Quick Ratio | 5.33 | 5.30 | 5.62 | 5.12 | 4.76 |
| Current Ratio | 6.61 | 6.57 | 6.93 | 6.18 | 5.82 |
| Debt to Equity | 0.15 | 0.15 | 0.15 | 0.17 | 0.17 |
| Long-Term Debt to Equity | 0.05 | 0.06 | 0.06 | 0.06 | 0.06 |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | 6.75 | 17.77 | 10.39 | 6.72 |
| ROE | 7.87 | 21.36 | 14.01 | 9.29 |
| Gross Margin | 23.64 | 24.85 | 27.80 | 21.82 |
| Operating Margin | 15.42 | 41.42 | 17.74 | 10.77 |
| EBITDA Margin | 33.96 | 59.56 | 35.19 | 28.72 |
| Net Profit Margin | 14.47 | 36.44 | 15.77 | 9.95 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| ROA | 1.65 | 1.45 | 1.29 | 1.79 | 1.79 |
| ROE | 1.89 | 1.68 | 1.49 | 2.09 | 2.10 |
| Gross Margin | 23.52 | 21.51 | 20.43 | 22.43 | 25.12 |
| Operating Margin | 12.78 | 10.71 | 9.19 | 21.39 | 15.05 |
| EBITDA Margin | 32.11 | 30.77 | 29.91 | 40.97 | 32.69 |
| Net Profit Margin | 13.56 | 12.51 | 11.21 | 14.24 | 14.75 |
Dividends
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Dividend Yield | ||||
| Dividend Payout Ratio |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Dividend Yield | |||||
| Dividend Payout Ratio |
Financial Statements
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Assets | 3,080,485.00 | 2,918,517.00 | 2,547,608.00 | 2,231,241.00 |
| Current Assets | 1,760,289.00 | 1,709,158.00 | 1,495,174.00 | 1,196,203.00 |
| Cash and Short-Term Investments | 1,218,245.00 | 1,236,447.00 | 1,005,812.00 | 764,646.00 |
| Cash and Cash Equivalents | 271,894.00 | 260,664.00 | 340,759.00 | 210,930.00 |
| Short-Term Investments | 946,351.00 | 975,783.00 | 665,053.00 | 553,716.00 |
| Net Receivables | 240,764.00 | 178,926.00 | 177,471.00 | 160,259.00 |
| Inventory | 268,295.00 | 282,688.00 | 302,108.00 | 234,512.00 |
| Other Current Assets | 32,985.00 | 11,097.00 | 9,783.00 | 36,786.00 |
| Non-Current Assets | 1,320,196.00 | 1,209,359.00 | 1,052,434.00 | 1,035,038.00 |
| Property, Plant, Equipment Net | 1,294,496.00 | 1,165,691.00 | 972,613.00 | 890,796.00 |
| Goodwill | 7,000.00 | 7,000.00 | 7,000.00 | 7,000.00 |
| Intangible Assets | 5,768.00 | 7,808.00 | 9,843.00 | 14,754.00 |
| Long-Term Investments | 6,780.00 | 6,780.00 | 6,720.00 | 27,655.00 |
| Non-Current Deferred Assets | 1,768.00 | 1,810.00 | 32,787.00 | 53,526.00 |
| Other Non-Current Assets | 4,384.00 | 20,270.00 | 23,471.00 | 41,307.00 |
| Liabilities | 440,305.00 | 491,478.00 | 659,067.00 | 615,852.00 |
| Current Liabilities | 285,064.00 | 276,838.00 | 387,388.00 | 276,328.00 |
| Payables and Expenses | 148,122.00 | 147,028.00 | 166,083.00 | 92,612.00 |
| Account Payables | 130,624.00 | 139,128.00 | 150,930.00 | 78,712.00 |
| Current Accrued Liabilities | 0 | 286.00 | 253.00 | 588.00 |
| Short-Term Debt | 48,376.00 | 58,952.00 | 62,275.00 | 83,868.00 |
| Other Current Liabilities | 88,566.00 | 70,858.00 | 159,030.00 | 99,848.00 |
| Non-Current Liabilities | 155,241.00 | 214,640.00 | 271,679.00 | 339,524.00 |
| Long-Term Debt | 132,437.00 | 172,611.00 | 210,069.00 | 230,972.00 |
| Other Non-Current Liabilities | 22,804.00 | 42,029.00 | 61,610.00 | 108,552.00 |
| Equity | 2,640,180.00 | 2,427,039.00 | 1,888,541.00 | 1,615,389.00 |
| Shareholders Equity | 2,653,318.00 | 2,432,499.00 | 1,891,181.00 | 1,622,007.00 |
| Capital Stock | 446,562.00 | 443,631.00 | 440,150.00 | 435,453.00 |
| Share Premium | 1,377,986.00 | 1,380,917.00 | 1,384,398.00 | 1,389,051.00 |
| Retained Earnings | 675,479.00 | 467,615.00 | -50,879.00 | -315,448.00 |
| Treasury Shares | 9,072.00 | 9,072.00 | 9,072.00 | 9,072.00 |
| Accumulated Other Comprehensive Income | -74,188.00 | -52,935.00 | -47,537.00 | -27,883.00 |
| Minority Interest | -13,138.00 | -5,460.00 | -2,640.00 | -6,618.00 |
| Debt | 180,813.00 | 231,563.00 | 272,344.00 | 314,840.00 |
| Net Debt | 0 | 0 | 0 | 103,910.00 |
| Common Shares Outstanding | 111,550.00 | 110,824.75 | 109,954.03 | 107,923.54 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Revenues | 1,436,122.00 | 1,422,680.00 | 1,677,614.00 | 1,508,166.00 |
| Cost Of Revenue | 1,096,680.00 | 1,069,161.00 | 1,211,306.00 | 1,179,048.00 |
| Interest Income | 55,488.00 | 39,987.00 | 13,596.00 | 5,368.00 |
| Interest Expense | 4,029.00 | 4,444.00 | 5,687.00 | 7,312.00 |
| Non-Interest Expense | 74,964.00 | 72,454.00 | 80,282.00 | 77,221.00 |
| Gross Profit | 339,442.00 | 353,519.00 | 466,308.00 | 329,118.00 |
| Operating Expenses | 154,398.00 | 152,262.00 | 164,193.00 | 162,607.00 |
| Selling, General and Administrative Expenses | 74,964.00 | 72,454.00 | 80,282.00 | 77,221.00 |
| Research and Development Expenses | 79,434.00 | 79,808.00 | 83,911.00 | 85,386.00 |
| Operating Income | 185,044.00 | 201,257.00 | 302,115.00 | 166,511.00 |
| Net Non-Operating Income | -24,721.00 | 7,047.00 | -6,934.00 | 1,461.00 |
| EBT | 217,427.00 | 584,842.00 | 291,973.00 | 155,099.00 |
| Income Tax | 10,205.00 | 65,312.00 | 25,502.00 | 1,024.00 |
| Net Income Including Non-Controlling Interests | 207,222.00 | 519,530.00 | 266,471.00 | 154,075.00 |
| Net Income Non-Controlling Interests | 642.00 | -1,036.00 | -1,902.00 | -4,063.00 |
| Net Income | 207,864.00 | 518,494.00 | 264,569.00 | 150,012.00 |
| EBIT | 221,456.00 | 589,286.00 | 297,660.00 | 162,411.00 |
| Deprecation and Amortization | 266,279.00 | 258,021.00 | 292,638.00 | 270,710.00 |
| EBITDA | 487,735.00 | 847,307.00 | 590,298.00 | 433,121.00 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 |
| Diluted EPS | 0.00 | 0.00 | 0.00 | 0.00 |
| Average Shares Outstanding Basic | 111,153.00 | 110,289.00 | 109,349.00 | 108,279.00 |
| Average Shares Outstanding Diluted | 112,343.00 | 111,216.00 | 110,754.00 | 109,798.00 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | 448,682.00 | 676,561.00 | 529,820.00 | 421,293.00 |
| Operating Net Income | 207,222.00 | 519,530.00 | 266,471.00 | 154,075.00 |
| Deprecation and Amortization | 266,279.00 | 258,021.00 | 292,638.00 | 270,710.00 |
| Deferred Income Tax | 0 | 0 | 0 | 0 |
| Share Based Compensation | 0 | 0 | 0 | 0 |
| Change in Working Capital | -49,673.00 | -92,311.00 | -46,585.00 | -3,169.00 |
| Other Operating Activities | 24,854.00 | -8,679.00 | 17,296.00 | -323.00 |
| Investing Cash Flow | -400,239.00 | -720,847.00 | -329,448.00 | -338,944.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -431,653.00 | -432,184.00 | -213,537.00 | -279,260.00 |
| Net Purchase/Sale of Investments Net | 31,944.00 | -288,058.00 | -114,874.00 | -57,892.00 |
| Net Purchase/Sale of Business | 0 | 0 | 0 | 0 |
| Other Investing Activities | -530.00 | -605.00 | -1,037.00 | -1,792.00 |
| Financing Cash Flow | -32,455.00 | -30,414.00 | -66,650.00 | -76,857.00 |
| Net Issuance/Repayment of Debt | -32,455.00 | -32,346.00 | -78,379.00 | -77,315.00 |
| Net Issuance/Repurchase of Equity | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0.00 | 1,932.00 | 11,729.00 | 458.00 |
| Net Change in Cash | 15,988.00 | -74,700.00 | 133,722.00 | 5,492.00 |
| Cash at Beginning of Period | 260,664.00 | 340,759.00 | 210,930.00 | 211,683.00 |
| Cash at End of Period | 271,894.00 | 260,664.00 | 340,759.00 | 210,930.00 |
| Free Cash Flow | 12,529.00 | 232,059.00 | 163,417.00 | 107,485.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|
| Assets | 3,252,602.00 | 3,203,410.00 | 3,108,605.00 | 3,080,485.00 | 3,059,829.00 | 0 |
| Current Assets | 1,779,561.00 | 1,763,318.00 | 1,728,261.00 | 1,760,289.00 | 1,714,290.00 | 0 |
| Cash and Short-Term Investments | 1,223,302.00 | 1,207,603.00 | 1,181,264.00 | 1,218,245.00 | 1,205,015.00 | 0 |
| Cash and Cash Equivalents | 272,742.00 | 265,293.00 | 274,818.00 | 271,894.00 | 270,979.00 | 0 |
| Short-Term Investments | 950,560.00 | 942,310.00 | 906,446.00 | 946,351.00 | 934,036.00 | 0 |
| Net Receivables | 213,013.00 | 215,316.00 | 219,496.00 | 240,764.00 | 195,794.00 | 0 |
| Inventory | 286,682.00 | 286,747.00 | 276,072.00 | 268,295.00 | 272,377.00 | 0 |
| Other Current Assets | 56,564.00 | 53,652.00 | 51,429.00 | 32,985.00 | 41,104.00 | 0 |
| Non-Current Assets | 1,473,041.00 | 1,440,092.00 | 1,380,344.00 | 1,320,196.00 | 1,345,539.00 | 0 |
| Property, Plant, Equipment Net | 1,440,238.00 | 1,402,715.00 | 1,346,213.00 | 1,294,496.00 | 1,295,243.00 | 0 |
| Goodwill | 0 | 0 | 0 | 7,000.00 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 5,768.00 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 6,780.00 | 0 | 8,452.00 |
| Non-Current Deferred Assets | 0 | 0 | 0 | 1,768.00 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 4,384.00 | 0 | 0 |
| Liabilities | 420,020.00 | 428,973.00 | 406,590.00 | 440,305.00 | 452,169.00 | 0 |
| Current Liabilities | 269,242.00 | 268,321.00 | 249,462.00 | 285,064.00 | 294,571.00 | 0 |
| Payables and Expenses | 131,906.00 | 135,686.00 | 118,318.00 | 148,122.00 | 129,703.00 | 0 |
| Account Payables | 131,906.00 | 135,686.00 | 118,318.00 | 130,624.00 | 129,703.00 | 0 |
| Current Accrued Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Short-Term Debt | 33,204.00 | 33,079.00 | 27,490.00 | 48,376.00 | 61,694.00 | 0 |
| Other Current Liabilities | 104,132.00 | 99,556.00 | 103,654.00 | 88,566.00 | 103,174.00 | 0 |
| Non-Current Liabilities | 150,778.00 | 160,652.00 | 157,128.00 | 155,241.00 | 157,598.00 | 0 |
| Long-Term Debt | 130,883.00 | 143,018.00 | 134,835.00 | 132,437.00 | 131,614.00 | 0 |
| Other Non-Current Liabilities | 19,895.00 | 17,634.00 | 22,293.00 | 22,804.00 | 25,984.00 | 0 |
| Equity | 2,832,582.00 | 2,774,437.00 | 2,702,015.00 | 2,640,180.00 | 2,607,660.00 | 0 |
| Shareholders Equity | 2,845,720.00 | 2,787,575.00 | 2,715,153.00 | 2,653,318.00 | 2,620,385.00 | 0 |
| Capital Stock | 0 | 0 | 0 | 446,562.00 | 0 | 444,638.00 |
| Share Premium | 0 | 0 | 0 | 1,377,986.00 | 0 | 1,379,910.00 |
| Retained Earnings | 0 | 0 | 0 | 675,479.00 | 0 | 565,694.00 |
| Treasury Shares | 0 | 0 | 0 | 9,072.00 | 0 | 9,072.00 |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | -74,188.00 | 0 | -72,786.00 |
| Minority Interest | 0 | 0 | 0 | -13,138.00 | 0 | -12,725.00 |
| Debt | 164,087.00 | 176,097.00 | 162,325.00 | 180,813.00 | 193,308.00 | 0 |
| Common Shares Outstanding | 112,123.80 | 111,845.59 | 111,756.62 | 111,550.00 | 111,069.86 | 0 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Revenues | 395,667.00 | 372,061.00 | 358,170.00 | 387,191.00 | 370,512.00 |
| Cost Of Revenue | 302,622.00 | 292,035.00 | 284,999.00 | 300,338.00 | 277,451.00 |
| Interest Income | 0 | 14,387.00 | 10,598.00 | 0 | 0 |
| Non-Interest Expense | 20,409.00 | 20,743.00 | 20,101.00 | 19,812.00 | 17,432.00 |
| Gross Profit | 93,045.00 | 80,026.00 | 73,171.00 | 86,853.00 | 93,061.00 |
| Operating Expenses | 42,465.00 | 40,161.00 | 40,273.00 | 40,434.00 | 37,299.00 |
| Selling, General and Administrative Expenses | 20,409.00 | 20,743.00 | 20,101.00 | 19,812.00 | 17,432.00 |
| Research and Development Expenses | 22,056.00 | 19,418.00 | 20,172.00 | 20,622.00 | 19,867.00 |
| Operating Income | 50,580.00 | 39,865.00 | 32,898.00 | 46,419.00 | 55,762.00 |
| EBT | 61,071.00 | 54,252.00 | 43,496.00 | 54,734.00 | 61,866.00 |
| Income Tax | 7,625.00 | 8,660.00 | 3,779.00 | 2,149.00 | 7,026.00 |
| Net Income Including Non-Controlling Interests | 53,446.00 | 45,592.00 | 39,717.00 | 52,585.00 | 54,840.00 |
| Net Income Non-Controlling Interests | 199.00 | 959.00 | 425.00 | 2,553.00 | -193.00 |
| Net Income | 53,645.00 | 46,551.00 | 40,142.00 | 55,138.00 | 54,647.00 |
| EBIT | 50,580.00 | 39,865.00 | 32,898.00 | 82,831.00 | 55,762.00 |
| Deprecation and Amortization | 76,456.00 | 74,636.00 | 74,228.00 | 75,820.00 | 65,348.00 |
| EBITDA | 127,036.00 | 114,501.00 | 107,126.00 | 158,651.00 | 121,110.00 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Diluted EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Average Shares Outstanding Basic | 112,132.00 | 111,810.00 | 111,575.00 | 111,493.00 | 111,237.00 |
| Average Shares Outstanding Diluted | 113,751.00 | 113,282.00 | 113,152.00 | 112,967.00 | 112,474.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Operating Cash Flow | 139,423.00 | 122,599.00 | 93,922.00 | 100,816.00 | 124,743.00 |
| Operating Net Income | 53,446.00 | 45,592.00 | 39,717.00 | 52,585.00 | 54,840.00 |
| Deprecation and Amortization | 76,456.00 | 74,636.00 | 74,228.00 | 75,820.00 | 65,348.00 |
| Deferred Income Tax | 0 | 0 | 0 | 0 | 0 |
| Share Based Compensation | 0 | 0 | 0 | 0 | 0 |
| Change in Working Capital | 9,643.00 | -1,188.00 | -20,581.00 | -40,161.00 | -1,734.00 |
| Other Operating Activities | -122.00 | 3,559.00 | 558.00 | 12,572.00 | 6,289.00 |
| Investing Cash Flow | -123,490.00 | -138,682.00 | -66,941.00 | -97,724.00 | -108,212.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -103,490.00 | -110,682.00 | -111,411.00 | -93,396.00 | -127,624.00 |
| Net Purchase/Sale of Investments Net | -20,000.00 | -28,000.00 | 44,470.00 | -3,798.00 | 19,412.00 |
| Net Purchase/Sale of Business | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0.00 | 0.00 | 0.00 | -530.00 | 0.00 |
| Financing Cash Flow | -6,875.00 | 5,104.00 | -26,874.00 | 2,795.00 | -16,402.00 |
| Net Issuance/Repayment of Debt | -6,875.00 | 5,104.00 | -26,874.00 | 2,795.00 | -16,402.00 |
| Net Issuance/Repurchase of Equity | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Change in Cash | 9,058.00 | -10,979.00 | 107.00 | 5,887.00 | 129.00 |
| Cash at Beginning of Period | 265,293.00 | 274,818.00 | 271,894.00 | 270,979.00 | 265,313.00 |
| Cash at End of Period | 272,742.00 | 265,293.00 | 274,818.00 | 271,894.00 | 270,979.00 |
| Free Cash Flow | 35,933.00 | 11,917.00 | -17,489.00 | 2,920.00 | -2,881.00 |