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Broadcom vs Taiwan Semiconductor Manufacturing: revenue, profit, margins and growth compared

Broadcom brought in $63.9B of revenue in fiscal 2025, Taiwan Semiconductor Manufacturing $88.3B in fiscal 2024. Revenue changed by +23.9% at Broadcom and +25.0% at Taiwan Semiconductor Manufacturing on the year before, so Taiwan Semiconductor Manufacturing grew faster. Broadcom kept 36.2% of its revenue as net profit, Taiwan Semiconductor Manufacturing 40.0%. Free cash flow was $26.9B at Broadcom and $26.5B at Taiwan Semiconductor Manufacturing.

Side by side, latest fiscal year

AVGOTSM
Fiscal year endedFY2025 (November 2, 2025)FY2024 (December 31, 2024)
Revenue$63.9B$88.3B
Revenue growth+23.9%+25.0%
Net income$23.1B$35.3B
Net margin36.2%40.0%
Free cash flow$26.9B$26.5B
Free cash flow margin42.1%30.1%
Earnings per share (diluted)$4.77$1.36
Cash$16.2B$64.9B
Debt$65.1Bn/a
Price to earnings74.0n/a
Market value$1.68T$2.34T
Dividend yield0.67%n/a
Rank by revenue in sector#11 of 530 · Technology#8 of 530 · Technology

Over the years

Revenue
AVGO FY2018: $20.8BAVGO FY2019: $22.6BAVGO FY2020: $23.9BAVGO FY2021: $27.5BAVGO FY2022: $33.2BAVGO FY2023: $35.8BAVGO FY2024: $51.6BAVGO FY2025: $63.9BTSM FY2017: $33BTSM FY2018: $33.7BTSM FY2019: $35.8BTSM FY2020: $47.7BTSM FY2021: $57.2BTSM FY2022: $73.7BTSM FY2023: $70.6BTSM FY2024: $88.3BFY17FY18FY19FY20FY21FY22FY23FY24FY25
AVGO $63.9BTSM $88.3B
Net income
AVGO FY2018: $12.3BAVGO FY2019: $2.7BAVGO FY2020: $2.7BAVGO FY2021: $6.4BAVGO FY2022: $11.5BAVGO FY2023: $14.1BAVGO FY2024: $5.9BAVGO FY2025: $23.1BTSM FY2017: $11.6BTSM FY2018: $11.9BTSM FY2019: $11.8BTSM FY2020: $18.2BTSM FY2021: $21.4BTSM FY2022: $32.3BTSM FY2023: $27.8BTSM FY2024: $35.3BFY17FY18FY19FY20FY21FY22FY23FY24FY25
AVGO $23.1BTSM $35.3B
Net margin
AVGO FY2018: 58.8%AVGO FY2019: 11.9%AVGO FY2020: 11.1%AVGO FY2021: 23.4%AVGO FY2022: 34.6%AVGO FY2023: 39.3%AVGO FY2024: 11.4%AVGO FY2025: 36.2%TSM FY2017: 35.3%TSM FY2018: 35.2%TSM FY2019: 33.1%TSM FY2020: 38.1%TSM FY2021: 37.3%TSM FY2022: 43.9%TSM FY2023: 39.4%TSM FY2024: 40.0%FY17FY18FY19FY20FY21FY22FY23FY24FY25
AVGO 36.2%TSM 40.0%
Revenue growth
AVGO FY2019: +8.4%AVGO FY2020: +5.7%AVGO FY2021: +14.9%AVGO FY2022: +21.0%AVGO FY2023: +7.9%AVGO FY2024: +44.0%AVGO FY2025: +23.9%TSM FY2018: +2.2%TSM FY2019: +6.2%TSM FY2020: +33.3%TSM FY2021: +20.0%TSM FY2022: +28.7%TSM FY2023: -4.2%TSM FY2024: +25.0%FY18FY19FY20FY21FY22FY23FY24FY25
AVGO +23.9%TSM +25.0%
Free cash flow
AVGO FY2018: $8.2BAVGO FY2019: $9.3BAVGO FY2020: $11.6BAVGO FY2021: $13.3BAVGO FY2022: $16.3BAVGO FY2023: $17.6BAVGO FY2024: $19.4BAVGO FY2025: $26.9BTSM FY2017: $8.6BTSM FY2018: $8.4BTSM FY2019: $5.2BTSM FY2020: $11.2BTSM FY2021: $9.8BTSM FY2022: $17.2BTSM FY2023: $9.5BTSM FY2024: $26.5BFY17FY18FY19FY20FY21FY22FY23FY24FY25
AVGO $26.9BTSM $26.5B

Fiscal years as each company reports them; the two may end in different months.

Questions about Broadcom and Taiwan Semiconductor Manufacturing

Which is bigger by revenue, Broadcom or Taiwan Semiconductor Manufacturing?

Taiwan Semiconductor Manufacturing is bigger by revenue: $88.3B in fiscal 2024, against $63.9B for Broadcom in fiscal 2025.

Which keeps more of its revenue as profit, Broadcom or Taiwan Semiconductor Manufacturing?

Broadcom had a net margin of 36.2% in fiscal 2025; Taiwan Semiconductor Manufacturing had 40.0% in fiscal 2024.

Which grew revenue faster, Broadcom or Taiwan Semiconductor Manufacturing?

In their latest fiscal years revenue changed by +23.9% at Broadcom and +25.0% at Taiwan Semiconductor Manufacturing.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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