TSMC Form 6-K Summary: December 2025 Revenue Report
Business Context and Reporting Period
Taiwan Semiconductor Manufacturing Company Limited (TSMC) filed this Form 6-K on January 9, 2026, reporting financial results for the month of December 2025 and the full fiscal year ended December 31, 2025. The filing covers consolidated revenue, funds lent to subsidiaries, endorsements, guarantees, and financial derivative transactions.
Key Financial Metrics
| Metric | December 2025 | Full Year 2025 |
|---|---|---|
| Net Revenue | NT$335.00 billion | NT$3,809.05 billion |
| Month-over-Month Change | -2.5% | N/A |
| Year-over-Year Change | +20.4% | +31.6% |
| Profit, Cash Flow, Margins, Debt | Filing text does not provide a clear value. |
Material Changes vs. Prior Period
- Monthly Trend: December 2025 revenue decreased 2.5% compared to November 2025 (NT$343.61 billion).
- Annual Growth: Full-year 2025 revenue increased 31.6% compared to the same period in 2024 (NT$2,894.31 billion).
- Derivative Performance: TSMC reported cumulative unrealized losses of approximately NT$2.59 billion on forward margin payments not applying hedge accounting, with cumulative realized losses of NT$5.54 billion on expired contracts.
Outlook, Risks, and Contingencies
The filing does not contain forward-looking guidance, management commentary on future outlook, or specific risk factors beyond the disclosure of financial derivative positions. The report details significant outstanding guarantees provided to wholly-owned subsidiaries, including TSMC North America (NT$2.62 billion outstanding), TSMC Global (NT$204.39 million outstanding), and TSMC Arizona (NT$343.74 million outstanding).
Investor Verification Checklist
- Verify the full-year 2025 revenue growth of 31.6% against analyst consensus estimates.
- Confirm the impact of the 2.5% month-over-month revenue decline in December on Q4 2025 total performance.
- Review the cumulative realized and unrealized losses on financial derivatives (approx. NT$8.13 billion total negative impact) to assess hedging effectiveness.
- Validate the outstanding guarantee amounts for US-based subsidiaries (North America, Arizona) given geopolitical sensitivities.