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Tower Semiconductor

TSEM on Nasdaq. Semiconductors & related devices. Market value $27.2bn.

Watch this stockFree. We tell you when something changes.

This company reports once a year (it is based outside the US), so every figure comes from its annual report for the year to December 2025.

Should I look at this?

Good business, but not cheap right now

Why it could be worth it

What to watch out for

See cheaper Technology stocks on the list

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
annual report to December 2025
-0.2%low

For every $100 of what the whole company costs, it produced $-0.17 of spare cash last year. A savings account pays about $4.

Price to profit
annual report to December 2025
149.5×full

You pay 149.5 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
7.8%five-year median

Each dollar kept in the business earns 8 cents a year. Above 10 is good.

Quality score: 81 of 100. Price score: 4 of 100. Our list needs 70 on quality and 60 on price.

$258.41 a share, 264% above its 1-year low

Over the past year the price has ranged from $70.90 to $319.94.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.1
0.2
0.2
0.0
-0.0
20212022202320242025
Revenue
$1.5bn$1.7bn$1.4bn$1.4bn$1.6bn
Operating margin
11.0%18.6%38.5%13.3%12.4%
Debt to equity
0.160.160.120.080.06
Shares outstanding
0.11bn0.11bn0.11bn0.11bn0.11bn

Health checks

  • Free cash flow positive4 of 5 years
  • Accounting looks honest (Beneish)Warning signs
  • Financial strength (Piotroski)7 of 9
  • Profit backed by cash (accruals)Yes
  • Debt0.06× equity
  • Revenue growth, five yearsSlow, 4.4% a year
  • Buying back its own sharesRoughly flat

Dates

Next results (estimated)
n/a
Last annual report (10-K)
30 April 2026
Next quarterly (estimated, 10-Q)
n/a

Who owns it

3 long-term investors we follow own it, unchanged from 3 last quarter. 451 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

8 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 2 sold $60m.

  • Chelouche Yoav
    Director
    Sold
    Date
    10 September 2026
    Shares
    232
    Price
    $215.06
    Value
    $49,894
  • Ellwanger Russell Craig
    Chief Executive Officer
    Sold
    Date
    11 August 2026
    Shares
    104,226
    Price
    $248.34
    Value
    $26m
  • Ellwanger Russell Craig
    Chief Executive Officer
    Sold
    Date
    10 August 2026
    Shares
    77,309
    Price
    $254.52
    Value
    $20m
  • Ellwanger Russell Craig
    Chief Executive Officer
    Sold
    Date
    13 July 2026
    Shares
    66,964
    Price
    $215.02
    Value
    $14m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

  • Its accounts show patterns that sometimes come before companies have to correct past results (Beneish score).
  • It isn't cheap on profits: 149.5× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.