ADR (American depositary receipt)

Filings and share structure

A security traded in the US that stands for shares of a foreign company.

How it is worked out

Each ADR stands for a set number of the company's shares (5 for TSMC, for example), printed in its annual report.

How to read it

  • Market cap and per-share figures have to use that ratio. Where the report does not print it, the figures set against the price are not shown.

Example

One TSMC ADR stands for 5 of its Taiwan shares.

Related terms

Related pages

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

US stocksThe market today, the sectors, the largest companies and the week's results.The market's sectorsThe 11 sectors side by side: returns, share of the market, median P/E and dividend.Compare stocksTwo companies side by side: price over up to ten years, with and without dividends, and every figure.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.

Explanations of terms for learning, with examples from SEC filings.