Intel Corp (INTC) is overvalued and Taiwan Semiconductor Manufacturing ADR (TSM) is overvalued.
Both trade above our estimate of their intrinsic value. TSM is the closer of the two: -26%, against -1189% for INTC.
Values as of the 22 Sept 2026 close.
Its through-the-cycle earnings (23.1% median margin), capitalised at 13.9% with no growth, values the shares at $9.61; the price of $123.86 is 1189% above that value.
Leak Score 28/100 on 8 of 12 signals
A 12.5x revenue multiple, adjusted for growth and margin, values the shares at $358.23; the price of $452.00 is 26% above that value.
Leak Score 59/100 on 3 of 12 signals
| Metric | INTC | TSM |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $123.86 | $452.00 |
| Intrinsic value | $9.61 | $358.23 |
| Margin of safety | -1189% | -26% |
| Leak Score | 28/100 (8/12) | 59/100 (3/12) |
| Market cap | $654.7B | $2.34T |
| Revenue growth, 5 years | -7.5% | 21.9% |
| Operating margin | 8.0% | 55.8% |
| Net margin | -19.8% | 50.3% |
| Return on equity | -12.2% | 40.1% |
| Debt to equity | 0.58 | 0.17 |
| P/E | — | 32.6x |
| Forward P/E | 58.2x | 20.6x |
| P/B | 7.1x | 11.6x |
| Dividend yield | 0.0% | 0.9% |