As of Q4'25, TSM's PEG Ratio (5yr expected) stands at 1.88, reflecting a recovery from the previous quarter and indicating a return to positive growth expectations. The latest data point marks a stabilization after a period of significant volatility in the PEG ratio over the past two years. From Q1'23 to Q4'25, the PEG ratio has exhibited considerable fluctuations, swinging between deeply negative values (such as -5.61 in Q1'25 and -4.70 in Q1'24) and strong positive readings (peaking at 2.96 in Q2'24). This volatility suggests shifting market expectations regarding TSM's growth relative to its earnings, with notable inflection points in Q3'23 and Q2'24 where the ratio turned sharply positive. Overall, the trend appears unstable, with alternating periods of optimism and pessimism, but the recent quarters indicate a move toward more normalized, positive PEG ratios.