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Stocks · Technology · Semiconductors & Related Devices

TOWER SEMICONDUCTOR LTD

TSEM Clue Score53
Israel Fiscal year ends December CIK 0000928876
$228.71 -0.02% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $228.71 +684.33% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue1,249.6Operating income175.2Net income203.9EPS, diluted2.09Fiscal year 2017Revenue1,387.3 +11.0%Operating income219.8Net income298.0 +46.1%EPS, diluted2.90 +38.8%Fiscal year 2018Revenue1,304.0 −6.0%Operating income154.9Net income135.6 −54.5%EPS, diluted1.32 −54.5%Fiscal year 2019Revenue1,234.0 −5.4%Operating income86.7Net income90.0 −33.6%EPS, diluted0.84 −36.4%Fiscal year 2020Revenue1,265.7 +2.6%Operating income91.0Net income82.3 −8.6%EPS, diluted0.76 −9.5%Fiscal year 2021Revenue1,508.2 +19.2%Operating income166.5Net income150.0 +82.3%EPS, diluted1.37 +80.3%Fiscal year 2022Revenue1,677.6 +11.2%Operating income311.7Net income264.6 +76.4%EPS, diluted2.39 +74.5%Fiscal year 2023Revenue1,422.7 −15.2%Operating income547.3Net income518.5 +96.0%EPS, diluted4.66 +95.0%Fiscal year 2024Revenue1,436.1 +0.9%Operating income191.3Net income207.9 −59.9%EPS, diluted1.85 −60.3%Fiscal year 2025Revenue1,566.1 +9.1%Operating income194.2Net income220.5 +6.1%EPS, diluted1.94 +4.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1,249.6 1,387.3 1,304.0 1,234.0 1,265.7 1,508.2 1,677.6 1,422.7 1,436.1 1,566.1
Growth +11.0% −6.0% −5.4% +2.6% +19.2% +11.2% −15.2% +0.9% +9.1%
Operating income 175.2 219.8 154.9 86.7 91.0 166.5 311.7 547.3 191.3 194.2
Net income 203.9 298.0 135.6 90.0 82.3 150.0 264.6 518.5 207.9 220.5
Growth +46.1% −54.5% −33.6% −8.6% +82.3% +76.4% +96.0% −59.9% +6.1%
EPS, diluted 2.09 2.90 1.32 0.84 0.76 1.37 2.39 4.66 1.85 1.94
Growth +38.8% −54.5% −36.4% −9.5% +80.3% +74.5% +95.0% −60.3% +4.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin24.3%Operating margin14.0%Net margin16.3%Free cash flow margin8.8%Fiscal year 2017Gross margin25.5%Operating margin15.8%Net margin21.5%Free cash flow margin12.1%Fiscal year 2018Gross margin22.5%Operating margin11.9%Net margin10.4%Free cash flow margin7.9%Fiscal year 2019Gross margin18.6%Operating margin7.0%Net margin7.3%Free cash flow margin8.1%Fiscal year 2020Gross margin18.4%Operating margin7.2%Net margin6.5%Free cash flow margin−2.9%Fiscal year 2021Gross margin21.8%Operating margin11.0%Net margin9.9%Free cash flow margin7.1%Fiscal year 2022Gross margin27.8%Operating margin18.6%Net margin15.8%Free cash flow margin9.7%Fiscal year 2023Gross margin24.8%Operating margin38.5%Net margin36.4%Free cash flow margin16.3%Fiscal year 2024Gross margin23.6%Operating margin13.3%Net margin14.5%Free cash flow margin0.9%Fiscal year 2025Gross margin23.2%Operating margin12.4%Net margin14.1%Free cash flow margin−3.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 24.3% 25.5% 22.5% 18.6% 18.4% 21.8% 27.8% 24.8% 23.6% 23.2%
Operating margin 14.0% 15.8% 11.9% 7.0% 7.2% 11.0% 18.6% 38.5% 13.3% 12.4%
Net margin 16.3% 21.5% 10.4% 7.3% 6.5% 9.9% 15.8% 36.4% 14.5% 14.1%
Free cash flow margin 8.8% 12.1% 7.9% 8.1% −2.9% 7.1% 9.7% 16.3% 0.9% −3.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow327.5Capital expenditure−217.5Free cash flow110.0Fiscal year 2017Operating cash flow355.6Capital expenditure−187.7Free cash flow168.0 +52.7%Fiscal year 2018Operating cash flow312.9Capital expenditure−210.2Free cash flow102.7 −38.9%Fiscal year 2019Operating cash flow291.3Capital expenditure−191.4Free cash flow99.9 −2.7%Fiscal year 2020Operating cash flow276.6Capital expenditure−313.7Free cash flow−37.1 −137.1%Fiscal year 2021Operating cash flow421.3Capital expenditure−313.8Free cash flow107.5Fiscal year 2022Operating cash flow529.8Capital expenditure−366.4Free cash flow163.4 +52.0%Fiscal year 2023Operating cash flow676.6Capital expenditure−444.5Free cash flow232.1 +42.0%Fiscal year 2024Operating cash flow448.7Capital expenditure−436.2Free cash flow12.5 −94.6%Fiscal year 2025Operating cash flow395.5Capital expenditure−444.4Free cash flow−48.9 −490.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 327.5 355.6 312.9 291.3 276.6 421.3 529.8 676.6 448.7 395.5
Capital expenditure −217.5 −187.7 −210.2 −191.4 −313.7 −313.8 −366.4 −444.5 −436.2 −444.4
Free cash flow 110.0 168.0 102.7 99.9 −37.1 107.5 163.4 232.1 12.5 −48.9
Growth +52.7% −38.9% −2.7% −137.1% +52.0% +42.0% −94.6% −490.6%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash355.3Shareholders’ equity682.6Fiscal year 2017Cash446.0Shareholders’ equity1,029.7Fiscal year 2018Cash385.1Total debt10.8Net cash (debt)374.3Shareholders’ equity1,243.0Debt to equity0.01Fiscal year 2019Cash355.6Total debt311.8Net cash (debt)43.8Shareholders’ equity1,354.5Debt to equity0.23Fiscal year 2020Cash211.7Total debt390.3Net cash (debt)−178.6Shareholders’ equity1,457.8Debt to equity0.27Fiscal year 2021Cash210.9Total debt314.8Net cash (debt)−103.9Shareholders’ equity1,622.0Debt to equity0.19Fiscal year 2022Cash340.8Total debt272.3Net cash (debt)68.4Shareholders’ equity1,891.2Debt to equity0.14Fiscal year 2023Cash260.7Total debt172.6Net cash (debt)88.1Shareholders’ equity2,432.5Debt to equity0.07Fiscal year 2024Cash271.9Total debt132.4Net cash (debt)139.5Shareholders’ equity2,653.3Debt to equity0.05Fiscal year 2025Cash235.4Total debt133.4Net cash (debt)102.0Shareholders’ equity2,919.3Debt to equity0.05
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 355.3 446.0 385.1 355.6 211.7 210.9 340.8 260.7 271.9 235.4
Total debt n/a n/a 10.8 311.8 390.3 314.8 272.3 172.6 132.4 133.4
Net cash (debt) n/a n/a 374.3 43.8 −178.6 −103.9 68.4 88.1 139.5 102.0
Shareholders’ equity 682.6 1,029.7 1,243.0 1,354.5 1,457.8 1,622.0 1,891.2 2,432.5 2,653.3 2,919.3
Debt to equity n/a n/a 0.01 0.23 0.27 0.19 0.14 0.07 0.05 0.05

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
1,249.6 1,387.3 1,304.0 1,234.0 1,265.7 1,508.2 1,677.6 1,422.7 1,436.1 1,566.1
Growth +11.0% −6.0% −5.4% +2.6% +19.2% +11.2% −15.2% +0.9% +9.1%
946.5 1,033.0 1,011.1 1,004.3 1,032.4 1,179.0 1,211.3 1,069.2 1,096.7 1,202.3
303.1 354.3 292.9 229.7 233.3 329.1 466.3 353.5 339.4 363.9
Growth +16.9% −17.3% −21.6% +1.6% +41.1% +41.7% −24.2% −4.0% +7.2%
63.1 67.7 73.1 75.6 78.3 85.4 83.9 79.8 79.4 86.5
65.4 66.8 65.0 67.4 64.0 77.2 80.3 72.5 75.0 83.2
175.2 219.8 154.9 86.7 91.0 166.5 311.7 547.3 191.3 194.2
Growth +25.5% −29.5% −44.0% +5.0% +82.9% +87.2% +75.6% −65.0% +1.5%
210.6 201.8 139.3 91.0 88.7 155.1 292.0 584.8 217.4 240.4
1.4 −99.9 5.9 2.9 5.4 1.0 25.5 65.3 10.2 21.6
203.9 298.0 135.6 90.0 82.3 150.0 264.6 518.5 207.9 220.5
Growth +46.1% −54.5% −33.6% −8.6% +82.3% +76.4% +96.0% −59.9% +6.1%
Per share
2.33 3.08 1.35 0.85 0.77 1.39 2.42 4.70 1.87 1.97
2.09 2.90 1.32 0.84 0.76 1.37 2.39 4.66 1.85 1.94
Growth +38.8% −54.5% −36.4% −9.5% +80.3% +74.5% +95.0% −60.3% +4.9%
87.5 96.6 100.4 106.3 107.3 108.3 109.3 110.3 111.2 112.0
101.3 105.9 102.5 107.4 108.5 109.8 110.8 111.2 112.3 113.6
Growth +4.6% −3.2% +4.8% +1.0% +1.2% +0.9% +0.4% +1.0% +1.1%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 4.4% a year over five years, and earnings per share grew 20.6% a year.
  • The diluted share count rose 4.7% in five years, which is dilution.
  • Operating margin is up 5.2 points on five years ago, at 12.4%.
  • Profitable in every one of the 10 years on file.