USDTWD.ai Taiwan Macro Atlas

TSMC Capital-Expenditure Intensity vs Intel, Samsung and UMC

Intel and UMC led this 2024 capital-expenditure/revenue view; TSMC stood at 33.0%.

What the Data Shows

Semiconductor leadership is capital hungry. Capital-expenditure intensity shows how much of each revenue dollar must be reinvested into fabs, tools and capacity. TSMC’s ratio sits far above a normal asset-light technology company, while Intel’s and UMC’s numbers show how expensive manufacturing transitions and capacity plans can be. Some peer figures are guidance or budget measures rather than audited full-year cash capital expenditure.

Data table

Intel 47.1% gross capex
UMC 44.3% cash budget
TSMC 33.0% capex
Samsung 17.8% facility inv.

Sources

Source 1: Form 20-F 2024

Publisher: Taiwan Semiconductor Manufacturing Company

Dataset/table: Recent years capital expenditures

Units: NT$ million; US$ million

Date checked: 2026-05-14

Evidence: TSMC reports capital expenditures for 2022, 2023 and 2024.

Note: TSMC reports capital expenditures for 2022, 2023 and 2024.

Source 2: 2024 Annual Report

Publisher: Taiwan Semiconductor Manufacturing Company

Dataset/table: 2024 revenue, margins, customers, products, technologies, employees

Units: NT$; US$; percent; people

Date checked: 2026-05-14

Evidence: TSMC reports 2024 revenue, margins, customer/product breadth and employee scale.

Note: TSMC reports 2024 revenue, margins, customer/product breadth and employee scale.

Source 3: Samsung Electronics Announces Fourth Quarter and FY 2024 Results

Publisher: Samsung Electronics

Dataset/table: FY2024 revenue and operating profit

Units: KRW trillion

Date checked: 2026-05-14

Evidence: Samsung reports 2024 revenue of KRW 300.9tn and operating profit of KRW 32.7tn.

Note: Samsung reports 2024 revenue of KRW 300.9tn and operating profit of KRW 32.7tn.

Source 4: 2025 Sustainability Report

Publisher: Samsung Electronics

Dataset/table: 2024 R&D and facility investment context

Units: KRW trillion

Date checked: 2026-05-14

Evidence: Samsung sustainability reporting identifies 2024 R&D spending and facility investment scale.

Note: Samsung sustainability reporting identifies 2024 R&D spending and facility investment scale.

Source 5: Intel Reports Fourth-Quarter and Full-Year 2024 Financial Results

Publisher: Intel Corporation

Dataset/table: FY2024 revenue and 2025 capital-spending guide

Units: US$ billion

Date checked: 2026-05-14

Evidence: Intel reports full-year 2024 revenue and capital-spending guidance context.

Note: Intel reports full-year 2024 revenue and capital-spending guidance context.

Source 6: Intel Q3 2024 Earnings Release

Publisher: Intel Corporation / SEC

Dataset/table: 2024 gross capital expenditure guide

Units: US$ billion

Date checked: 2026-05-14

Evidence: Intel’s SEC-filed release gives 2024 gross capital expenditures of about US$25bn.

Note: Intel’s SEC-filed release gives 2024 gross capital expenditures of about US$25bn.

Source 7: UMC Board Approves 2024 Business Report and Financial Statements

Publisher: United Microelectronics Corporation

Dataset/table: 2024 consolidated revenue and net income

Units: NT$ million

Date checked: 2026-05-14

Evidence: UMC reports 2024 consolidated revenue of NT$232.303bn and net income attributable to shareholders.

Note: UMC reports 2024 consolidated revenue of NT$232.303bn and net income attributable to shareholders.

Source 8: UMC Reports Second Quarter 2024 Results

Publisher: United Microelectronics Corporation

Dataset/table: 2024 cash-based capex budget

Units: US$ billion

Date checked: 2026-05-14

Evidence: UMC reported a 2024 cash-based CAPEX budget of US$3.3bn.

Note: UMC reported a 2024 cash-based CAPEX budget of US$3.3bn.

Source 9: 2024 New Taiwan Dollar Exchange Rates

Publisher: Central Bank of the Republic of China (Taiwan)

Dataset/table: NTD/USD daily exchange rates

Units: NT$ per US$

Date checked: 2026-05-14

Evidence: CBC provides official 2024 NTD/USD interbank spot closing-rate data.

Note: CBC provides official 2024 NTD/USD interbank spot closing-rate data.

Data notes & caveats

UMC and Intel values are source-labelled because they are reported as guidance/budget or gross capital-expenditure context. Use as an intensity benchmark, not an audited free-cash-flow comparison.

Methodology

Capital-expenditure intensity equals 2024 capital expenditure or announced 2024 budget divided by 2024 revenue. TSMC and Samsung values use local-currency spending and revenue. Intel uses stated 2024 gross capital expenditure and revenue. UMC uses its cash-based 2024 budget and revenue converted at an approximate NTD/USD rate.

Source consistency notes

Revenue and capex definitions differ: gross capex, facility investment and cash-based capex budget are not identical accounting measures.