TSMC guides Q1 2026 revenue to US$34.6-35.8 billion and 2026 capex to US$52-56 billion

TSMC guided first-quarter 2026 revenue to US$34.6-35.8 billion, with gross margin of 63-65% and operating margin of 54-56%, using an exchange rate of NT$31.6 per US dollar. It also set its 2026 capital budget at US$52-56 billion. For traders, the capex range and the margin guide are the two numbers that frame the year's returns on new capacity.

• Q1 2026 revenue guidance: US$34.6-35.8 billion
• Gross margin guidance 63-65%; operating margin 54-56%
• Exchange rate assumption: NT$31.6 per US dollar
• 2026 capital budget: US$52-56 billion