JPM vs TSM: JPMorgan Chase & and Taiwan Semiconductor Manufacturing compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Taiwan Semiconductor Manufacturing is the larger company, worth $2.37T, about 2.7 times JPMorgan Chase &.
- Taiwan Semiconductor Manufacturing grew revenue faster over the last year (+33.9% vs +27.7%).
- On earnings, JPMorgan Chase & is the cheaper stock (15.7x vs 39.3x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | JPM | TSM |
|---|---|---|
| Market cap | $878.7B | $2.37T |
| Share price | $332.99 | $453.31 |
| Revenue (last fiscal year) | $182.4B | $2.89T |
| Free cash flow (last fiscal year) | — | $861.3B |
| Revenue growth, last year | +27.7% | +33.9% |
| Revenue growth per year, last 5 fiscal years | +10.7% | +21.2% |
| Operating margin | — | 45.7% |
| Net margin | 32.6% | 40.0% |
| Return on equity | 17.4% | 27.3% |
| P/E (trailing) | 15.7x | 39.3x |
| Price / free cash flow | 8.72x | 2.17x |
| EV / EBITDA | 6.84x | 25.0x |
| FCF growth the price implies | — | — |
| Dividend yield | 1.8% | 0.83% |
| Debt / equity | 12.4x | 0.57x |
| Fundamental grade | B | B |
| Superinvestors holding it | 22 | 28 |
| Insider purchases, last 12 months | 10 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
JPMorgan Chase &
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $121.6B | — | — |
| 2022 | $128.7B | — | — |
| 2023 | $158.1B | — | — |
| 2024 | $177.6B | — | — |
| 2025 | $182.4B | — | — |
Taiwan Semiconductor Manufacturing
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2020 | $1.34T | $305.9B | 42.3% |
| 2021 | $1.59T | $263.9B | 40.9% |
| 2022 | $2.26T | $521.0B | 49.5% |
| 2023 | $2.16T | $286.6B | 42.6% |
| 2024 | $2.89T | $861.3B | 45.7% |
Where the revenue comes from
JPMorgan Chase & · by segments, 2025
Commercial & Investment Bank$78.5B44%
Consumer & Community Banking$76.0B43%
Asset & Wealth Management$24.1B13%
Taiwan Semiconductor Manufacturing · by products, 2025
Wafer$3.27T86%
Others$536.5B14%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open JPM in InvestinglyQuestions
Which is bigger, JPMorgan Chase & or Taiwan Semiconductor Manufacturing?
Taiwan Semiconductor Manufacturing (TSM), at $2.37T against $878.7B.
Is JPM or TSM cheaper?
By trailing P/E, JPMorgan Chase & (15.7x) is cheaper than Taiwan Semiconductor Manufacturing (39.3x). A lower multiple can also mean the market expects less growth.
Which grows faster, JPM or TSM?
Taiwan Semiconductor Manufacturing: revenue grew +33.9% over the last year, against +27.7%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.