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TSEM

Tower Semiconductor Ltd.

TSEM

Tower Semiconductor Ltd. • NASDAQ
$108.11 ▲ 4.49% (+4.65)
Market Cap $12.08 B
52w High $109.06
52w Low $28.64
Dividend Yield 0%
P/E 62.49
Volume 1.63M
Outstanding Shares 111.76M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $395.667M ▲ $42.465M ▲ $53.645M ▲ 13.558% ▲ $0.48 ▲ $137.527M ▲
Q2-2025 $372.061M ▲ $40.161M ▼ $46.551M ▲ 12.512% ▲ $0.42 ▲ $128.888M ▲
Q1-2025 $358.17M ▼ $40.273M ▼ $40.142M ▼ 11.208% ▼ $0.36 ▼ $107.126M ▼
Q4-2024 $387.191M ▲ $40.434M ▲ $55.138M ▲ 14.241% ▼ $0.49 $130.85M ▲
Q3-2024 $370.512M $37.299M $54.647M 14.749% $0.49 $121.11M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.223B ▲ $3.253B ▲ $420.02M ▼ $2.833B ▲
Q2-2025 $1.208B ▲ $3.203B ▲ $428.973M ▲ $2.774B ▲
Q1-2025 $1.181B ▼ $3.109B ▲ $406.59M ▼ $2.702B ▲
Q4-2024 $1.218B ▲ $3.08B ▲ $440.305M ▼ $2.653B ▲
Q3-2024 $1.205B $3.06B $452.169M $2.608B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $53.446M ▲ $139.423M ▲ $-123.49M ▲ $-6.875M ▼ $7.449M ▲ $35.933M ▲
Q2-2025 $46.551M ▲ $122.599M ▲ $-138.682M ▼ $5.104M ▲ $-9.525M ▼ $11.917M ▲
Q1-2025 $40.142M ▼ $93.922M ▼ $-66.941M ▲ $-26.874M ▼ $2.924M ▲ $-17.489M ▼
Q4-2024 $55.138M ▲ $100.816M ▼ $-97.724M ▲ $2.795M ▲ $915K ▼ $2.92M ▲
Q3-2024 $54.84M $124.743M $-108.212M $-16.402M $5.666M $-2.881M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown meaningfully from earlier years, but it peaked a couple of years ago and has softened since, suggesting the business is coming off a high point in the cycle. Profitability improved strongly over time, yet one recent year stands out as unusually profitable, likely helped by special or one‑off items rather than just normal operations. More recently, earnings and margins have stepped down from their peak, pointing to some pressure on pricing, factory utilization, or product mix. Even with this moderation, the company has stayed clearly profitable for several years in a row, which is a positive sign of an underlying solid business model.

Balance Sheet

Balance Sheet The balance sheet looks robust and steadily stronger over time. Total assets have grown as the company has invested in its manufacturing base and technologies. Shareholders’ equity has increased meaningfully, while debt has trended down, leaving the company with a relatively light leverage profile. Cash levels appear healthy relative to the size of the business, providing a cushion to navigate industry swings and fund ongoing investments without overstretching the balance sheet.

Cash Flow

Cash Flow The company consistently generates solid cash flow from its day‑to‑day operations, which supports both reinvestment and financial stability. Free cash flow has generally been positive in recent years, although it has tightened more recently because the company is spending heavily on new equipment and capacity. This pattern suggests a deliberate choice to reinvest aggressively in the business rather than maximize short‑term cash. The key risk is that if end‑market demand slows during a period of high investment, returns on these projects may take longer to materialize.

Competitive Edge

Competitive Edge Tower occupies a focused niche as a specialist analog and mixed‑signal foundry rather than a general‑purpose digital chip manufacturer. Its strengths lie in areas like high‑frequency silicon germanium, radio‑frequency technologies, advanced power management, silicon photonics, and custom image sensors. These capabilities are difficult and time‑consuming for competitors to replicate, and they are closely tied to deep, long‑term customer relationships, which tend to be “sticky” once designs are qualified. A globally spread manufacturing footprint and collaborations with larger players add to its appeal, though as a mid‑sized foundry it does not enjoy the same sheer scale as the largest industry leaders and remains sensitive to swings in customer demand and fab utilization.

Innovation and R&D

Innovation and R&D Innovation is clearly at the core of Tower’s strategy, with sustained focus on specialized technologies that serve fast‑growing end markets. The company is pushing forward in silicon germanium for wireless and data‑center applications, RF platforms for mobile and IoT, power technologies for automotive and industrial uses, and silicon photonics for high‑speed optical communications. Its “open” platforms and strong design support tools lower barriers for customers to adopt these advanced processes, which can deepen relationships and widen its customer base. Partnerships with major chip and equipment players, as well as access to advanced 300mm manufacturing through alliances, show that Tower is investing for the next wave of growth, though this requires ongoing, substantial R&D and capital spending with no guarantee every bet will pay off.

Summary

Overall, Tower Semiconductor combines a solid, conservatively financed balance sheet with a business model that has proven it can generate consistent profits across the cycle. Growth and margins have cooled from their recent highs, and one standout year of earnings looks atypically strong, so it is important to think in terms of normalized profitability rather than peak results. Strategically, the company is positioned in attractive niches—analog, RF, power, photonics, and imaging—tied to long‑term themes like AI infrastructure, automotive electronics, advanced wireless, and industrial sensing. The main things to watch are how effectively it fills the additional capacity it is investing in, how well it maintains pricing and margins as cycles turn, and how successfully it executes on key partnerships and new technology platforms. All interpretations here are based only on the summarized data provided and should be viewed as a high‑level, informational overview rather than any form of investment guidance.

NEWS

November 17, 2025 · 6:30 AM UTC

Tower Semiconductor and Switch Semiconductor Collaborate to Deliver Best-in-Class Efficiency for Next-Generation AI and Server Power Systems

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November 12, 2025 · 6:00 AM UTC

Tower Semiconductor Announces New CPO Foundry Technology Available On Tower's Leading Sipho and EIC Optical Platforms

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October 15, 2025 · 6:00 AM UTC

Tower Semiconductor Announces Third Quarter 2025 Financial Results and Conference Call

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