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Side-by-side financial comparison of Nvidia (NVDA) and TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD (TSM), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD is the larger business by last-quarter revenue ($88.3B vs $68.1B, roughly 1.3× Nvidia). Nvidia runs the higher net margin — 63.1% vs 40.0%, a 23.1% gap on every dollar of revenue. On growth, Nvidia posted the faster year-over-year revenue change (73.2% vs 25.0%). Nvidia produced more free cash flow last quarter ($34.9B vs $26.5B).
Nvidia Corporation is an American technology company headquartered in Santa Clara, California. Founded in 1993 by Jensen Huang, Chris Malachowsky, and Curtis Priem, it develops graphics processing units (GPUs), systems on chips (SoCs), and application programming interfaces (APIs) for data science, high-performance computing, video games, and mobile and automotive applications. Nvidia has been described as a Big Tech company.
Taiwan Semiconductor Manufacturing Company (TSMC) is the world's largest dedicated independent semiconductor foundry, headquartered in Hsinchu, Taiwan. It manufactures advanced logic chips on contract for fabless customers including Apple, NVIDIA, AMD, Qualcomm, and Broadcom, and leads the industry in leading-edge process nodes (3nm/5nm/7nm).
NVDA vs TSM — Head-to-Head
Income Statement — Q4 2026 vs Q4 2024
| Metric | | |
|---|---|---|
| Revenue | $68.1B | $88.3B |
| Net Profit | $43.0B | $35.3B |
| Gross Margin | 75.0% | 56.1% |
| Operating Margin | 65.0% | 45.7% |
| Net Margin | 63.1% | 40.0% |
| Revenue YoY | 73.2% | 25.0% |
| Net Profit YoY | 94.5% | 27.0% |
| EPS (diluted) | $1.76 | $1.36 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q1 26 | $68.1B | — | ||
| Q4 25 | $57.0B | — | ||
| Q3 25 | $46.7B | — | ||
| Q2 25 | $44.1B | — | ||
| Q1 25 | $39.3B | — | ||
| Q4 24 | $35.1B | $88.3B | ||
| Q3 24 | $30.0B | — | ||
| Q2 24 | $26.0B | — |
| Q1 26 | $43.0B | — | ||
| Q4 25 | $31.9B | — | ||
| Q3 25 | $26.4B | — | ||
| Q2 25 | $18.8B | — | ||
| Q1 25 | $22.1B | — | ||
| Q4 24 | $19.3B | $35.3B | ||
| Q3 24 | $16.6B | — | ||
| Q2 24 | $14.9B | — |
| Q1 26 | 75.0% | — | ||
| Q4 25 | 73.4% | — | ||
| Q3 25 | 72.4% | — | ||
| Q2 25 | 60.5% | — | ||
| Q1 25 | 73.0% | — | ||
| Q4 24 | 74.6% | 56.1% | ||
| Q3 24 | 75.1% | — | ||
| Q2 24 | 78.4% | — |
| Q1 26 | 65.0% | — | ||
| Q4 25 | 63.2% | — | ||
| Q3 25 | 60.8% | — | ||
| Q2 25 | 49.1% | — | ||
| Q1 25 | 61.1% | — | ||
| Q4 24 | 62.3% | 45.7% | ||
| Q3 24 | 62.1% | — | ||
| Q2 24 | 64.9% | — |
| Q1 26 | 63.1% | — | ||
| Q4 25 | 56.0% | — | ||
| Q3 25 | 56.5% | — | ||
| Q2 25 | 42.6% | — | ||
| Q1 25 | 56.2% | — | ||
| Q4 24 | 55.0% | 40.0% | ||
| Q3 24 | 55.3% | — | ||
| Q2 24 | 57.1% | — |
| Q1 26 | $1.76 | — | ||
| Q4 25 | $1.30 | — | ||
| Q3 25 | $1.08 | — | ||
| Q2 25 | $0.76 | — | ||
| Q1 25 | $-4.49 | — | ||
| Q4 24 | $0.78 | $1.36 | ||
| Q3 24 | $0.67 | — | ||
| Q2 24 | $5.98 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.6B | $64.9B |
| Total DebtLower is stronger | $8.5B | — |
| Stockholders' EquityBook value | $157.3B | $130.5B |
| Total Assets | $206.8B | $204.1B |
| Debt / EquityLower = less leverage | 0.05× | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q1 26 | $10.6B | — | ||
| Q4 25 | $60.6B | — | ||
| Q3 25 | $56.8B | — | ||
| Q2 25 | $53.7B | — | ||
| Q1 25 | $43.2B | — | ||
| Q4 24 | $38.5B | $64.9B | ||
| Q3 24 | $34.8B | — | ||
| Q2 24 | $31.4B | — |
| Q1 26 | $8.5B | — | ||
| Q4 25 | $8.5B | — | ||
| Q3 25 | $8.5B | — | ||
| Q2 25 | $8.5B | — | ||
| Q1 25 | $8.5B | — | ||
| Q4 24 | $8.5B | — | ||
| Q3 24 | $8.5B | — | ||
| Q2 24 | $9.7B | — |
| Q1 26 | $157.3B | — | ||
| Q4 25 | $118.9B | — | ||
| Q3 25 | $100.1B | — | ||
| Q2 25 | $83.8B | — | ||
| Q1 25 | $79.3B | — | ||
| Q4 24 | $65.9B | $130.5B | ||
| Q3 24 | $58.2B | — | ||
| Q2 24 | $49.1B | — |
| Q1 26 | $206.8B | — | ||
| Q4 25 | $161.1B | — | ||
| Q3 25 | $140.7B | — | ||
| Q2 25 | $125.3B | — | ||
| Q1 25 | $111.6B | — | ||
| Q4 24 | $96.0B | $204.1B | ||
| Q3 24 | $85.2B | — | ||
| Q2 24 | $77.1B | — |
| Q1 26 | 0.05× | — | ||
| Q4 25 | 0.07× | — | ||
| Q3 25 | 0.08× | — | ||
| Q2 25 | 0.10× | — | ||
| Q1 25 | 0.11× | — | ||
| Q4 24 | 0.13× | — | ||
| Q3 24 | 0.15× | — | ||
| Q2 24 | 0.20× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $36.2B | $55.7B |
| Free Cash FlowOCF − Capex | $34.9B | $26.5B |
| FCF MarginFCF / Revenue | 51.2% | 30.1% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 1.9% | 33.0% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 0.84× | 1.58× |
| TTM Free Cash FlowTrailing 4 quarters | $96.7B | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q1 26 | $36.2B | — | ||
| Q4 25 | $23.8B | — | ||
| Q3 25 | $15.4B | — | ||
| Q2 25 | $27.4B | — | ||
| Q1 25 | $16.6B | — | ||
| Q4 24 | $17.6B | $55.7B | ||
| Q3 24 | $14.5B | — | ||
| Q2 24 | $15.3B | — |
| Q1 26 | $34.9B | — | ||
| Q4 25 | $22.1B | — | ||
| Q3 25 | $13.5B | — | ||
| Q2 25 | $26.2B | — | ||
| Q1 25 | $15.6B | — | ||
| Q4 24 | $16.8B | $26.5B | ||
| Q3 24 | $13.5B | — | ||
| Q2 24 | $15.0B | — |
| Q1 26 | 51.2% | — | ||
| Q4 25 | 38.8% | — | ||
| Q3 25 | 28.8% | — | ||
| Q2 25 | 59.4% | — | ||
| Q1 25 | 39.5% | — | ||
| Q4 24 | 47.9% | 30.1% | ||
| Q3 24 | 45.0% | — | ||
| Q2 24 | 57.5% | — |
| Q1 26 | 1.9% | — | ||
| Q4 25 | 2.9% | — | ||
| Q3 25 | 4.1% | — | ||
| Q2 25 | 2.8% | — | ||
| Q1 25 | 2.7% | — | ||
| Q4 24 | 2.3% | 33.0% | ||
| Q3 24 | 3.3% | — | ||
| Q2 24 | 1.4% | — |
| Q1 26 | 0.84× | — | ||
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.58× | — | ||
| Q2 25 | 1.46× | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | 0.91× | 1.58× | ||
| Q3 24 | 0.87× | — | ||
| Q2 24 | 1.03× | — |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
NVDA
| Compute | $51.3B | 75% |
| Networking | $11.0B | 16% |
| Gaming | $3.7B | 5% |
| Professional Visualization | $1.3B | 2% |
| Automotive | $604.0M | 1% |
| OEM And Other | $161.0M | 0% |
| Inventory Purchase Obligations In Excess Of Projections | $31.0M | 0% |
TSM
Segment breakdown not available.
