Tower Semiconductor Ltd. (TSEM)

Tower Semiconductor Income Statement

Financials in millions USD. Fiscal year is January - December.

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	1,394	1,423	1,678	1,508	1,266	1,234
Revenue Growth (YoY)	-13.51%	-15.20%	11.24%	19.16%	2.57%	-5.37%
Cost of Revenue	1,064	1,069	1,211	1,179	1,032	1,004
Gross Profit	330.41	353.52	466.31	329.12	233.32	229.67
Selling, General & Admin	72.5	72.45	80.28	77.22	63.97	67.38
Research & Development	80.43	79.81	83.91	85.39	78.32	75.58
Other Operating Expenses	-314.35	-346.01	-9.56	0	0	0
Operating Expenses	-161.43	-193.75	154.63	162.61	142.29	142.96
Operating Income	491.84	547.26	311.67	166.51	91.03	86.72
Interest Expense / Income	-13.9	-30.53	12.77	12.87	-2.87	-0.01
Other Expense / Income	-31.18	-6.01	8.84	2.6	6.2	-6.27
Pretax Income	536.92	583.81	290.07	151.04	87.7	93
Income Tax	45.19	65.31	25.5	1.02	5.4	2.95
Net Income	491.73	518.49	264.57	150.01	82.3	90.05
Net Income Growth	74.41%	95.98%	76.37%	82.27%	-8.60%	-33.58%
Shares Outstanding (Basic)	111	110	109	108	107	106
Shares Outstanding (Diluted)	112	111	111	110	108	107
Shares Change	0.50%	0.42%	0.87%	1.21%	0.97%	4.80%
EPS (Basic)	4.45	4.70	2.42	1.39	0.77	0.85
EPS (Diluted)	4.41	4.66	2.39	1.37	0.76	0.84
EPS Growth	73.62%	94.98%	74.45%	80.26%	-9.52%	-36.36%
Free Cash Flow	288.92	244.38	316.28	142.03	20.02	119.15
Free Cash Flow Per Share	2.61	2.22	2.89	1.31	0.19	1.12
Gross Margin	23.70%	24.85%	27.80%	21.82%	18.43%	18.61%
Operating Margin	35.27%	38.47%	18.58%	11.04%	7.19%	7.03%
Profit Margin	35.27%	36.44%	15.77%	9.95%	6.50%	7.30%
Free Cash Flow Margin	20.72%	17.18%	18.85%	9.42%	1.58%	9.66%
Effective Tax Rate	8.42%	11.19%	8.79%	0.68%	6.16%	3.17%
EBITDA	778.2	811.3	595.48	434.62	325.36	307.46
EBITDA Margin	55.81%	57.03%	35.50%	28.82%	25.71%	24.92%
Depreciation & Amortization	255.18	258.02	292.64	270.71	240.53	214.47
EBIT	523.02	553.28	302.84	163.91	84.83	92.98
EBIT Margin	37.51%	38.89%	18.05%	10.87%	6.70%	7.54%

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).