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

Nvidia brought in $215.9B of revenue in fiscal 2026, Taiwan Semiconductor Manufacturing $88.3B in fiscal 2024. Revenue changed by +65.5% at Nvidia and +25.0% at Taiwan Semiconductor Manufacturing on the year before, so Nvidia grew faster. Nvidia kept 55.6% of its revenue as net profit, Taiwan Semiconductor Manufacturing 40.0%. Free cash flow was $96.7B at Nvidia and $26.5B at Taiwan Semiconductor Manufacturing.

Side by side, latest fiscal year

NVDATSM
Fiscal year endedFY2026 (January 25, 2026)FY2024 (December 31, 2024)
Revenue$215.9B$88.3B
Revenue growth+65.5%+25.0%
Net income$120.1B$35.3B
Net margin55.6%40.0%
Free cash flow$96.7B$26.5B
Free cash flow margin44.8%30.1%
Earnings per share (diluted)$4.90$1.36
Cash$10.6B$64.9B
Debt$8.5Bn/a
Price to earnings45.9n/a
Market value$5.45T$2.34T
Dividend yield0.02%n/a
Rank by revenue in sector#4 of 530 · Technology#8 of 530 · Technology

Over the years

Revenue
NVDA FY2019: $11.7BNVDA FY2020: $10.9BNVDA FY2021: $16.7BNVDA FY2022: $26.9BNVDA FY2023: $27BNVDA FY2024: $60.9BNVDA FY2025: $130.5BNVDA FY2026: $215.9BTSM FY2017: $33BTSM FY2018: $33.7BTSM FY2019: $35.8BTSM FY2020: $47.7BTSM FY2021: $57.2BTSM FY2022: $73.7BTSM FY2023: $70.6BTSM FY2024: $88.3BFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
NVDA $215.9BTSM $88.3B
Net income
NVDA FY2019: $4.1BNVDA FY2020: $2.8BNVDA FY2021: $4.3BNVDA FY2022: $9.8BNVDA FY2023: $4.4BNVDA FY2024: $29.8BNVDA FY2025: $72.9BNVDA FY2026: $120.1BTSM FY2017: $11.6BTSM FY2018: $11.9BTSM FY2019: $11.8BTSM FY2020: $18.2BTSM FY2021: $21.4BTSM FY2022: $32.3BTSM FY2023: $27.8BTSM FY2024: $35.3BFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
NVDA $120.1BTSM $35.3B
Net margin
NVDA FY2019: 35.3%NVDA FY2020: 25.6%NVDA FY2021: 26.0%NVDA FY2022: 36.2%NVDA FY2023: 16.2%NVDA FY2024: 48.8%NVDA FY2025: 55.8%NVDA FY2026: 55.6%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%FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
NVDA 55.6%TSM 40.0%
Revenue growth
NVDA FY2020: -6.8%NVDA FY2021: +52.7%NVDA FY2022: +61.4%NVDA FY2023: +0.2%NVDA FY2024: +125.9%NVDA FY2025: +114.2%NVDA FY2026: +65.5%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%FY18FY19FY20FY21FY22FY23FY24FY25FY26
NVDA +65.5%TSM +25.0%
Free cash flow
NVDA FY2022: $8.1BNVDA FY2023: $3.8BNVDA FY2024: $27BNVDA FY2025: $60.9BNVDA FY2026: $96.7BTSM FY2017: $8.6BTSM FY2018: $8.4BTSM FY2019: $5.2BTSM FY2020: $11.2BTSM FY2021: $9.8BTSM FY2022: $17.2BTSM FY2023: $9.5BTSM FY2024: $26.5BFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
NVDA $96.7BTSM $26.5B

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

Questions about Nvidia and Taiwan Semiconductor Manufacturing

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

Nvidia is bigger by revenue: $215.9B in fiscal 2026, against $88.3B for Taiwan Semiconductor Manufacturing in fiscal 2024.

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

Nvidia had a net margin of 55.6% in fiscal 2026; Taiwan Semiconductor Manufacturing had 40.0% in fiscal 2024.

Which grew revenue faster, Nvidia or Taiwan Semiconductor Manufacturing?

In their latest fiscal years revenue changed by +65.5% at Nvidia 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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