TSG Development Co (ROCO:3521) EBIT: NT$23.8 Mil (TTM As of Dec. 2025)


ROCO:3521 TSG Development Co Ltd ROCO:3521
58 GF Score
Price NT$12.10
GF Value NT$10.12
Valuation Modestly Overvalued
! 2 Warning Signs
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What is TSG Development Co EBIT?

TSG Development Co ROCO:3521 +0.41% 58 EBIT is NT$23.8 Mil as of Dec. 2025. GuruFocus rates ROCO:3521 with a GF Score™ of 58/100 and a GF Value™ of NT$10.12 (Modestly Overvalued). The stock has 2 warning signs investors should review.

TSG Development Co's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2025 was NT$-16.8 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was NT$23.8 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. TSG Development Co's annualized ROC % for the quarter that ended in Dec. 2025 was -6.45%. TSG Development Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -19.53%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. TSG Development Co's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 1.39%.


TSG Development Co  (ROCO:3521) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

TSG Development Co's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=-65.876 * ( 1 - 7.86% )/( (937.936 + 944.943)/ 2 )
=-60.6981464/941.4395
=-6.45 %

where

Invested Capital(Q: Sep. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1631.232 - 36.313 - ( 656.983 - max(0, 47.535 - 1003.062+656.983))
=937.936

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1800.585 - 33.413 - ( 822.229 - max(0, 313.947 - 1276.583+822.229))
=944.943

Note: The Operating Income data used here is four times the quarterly (Dec. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

TSG Development Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-67.056/( ( (11.24 + max(272.753, 0)) + (11.009 + max(391.599, 0)) )/ 2 )
=-67.056/( ( 283.993 + 402.608 )/ 2 )
=-67.056/343.3005
=-19.53 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1.76 + 297.78 + 10.02) - (36.313 + 0 + 0.49399999999999)
=272.753

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(11.503 + 284.16 + 129.891) - (33.413 + 0 + 0.54199999999997)
=391.599

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

TSG Development Co's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2025 )
=23.758/1709.720
=1.39 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


TSG Development Co EBIT Related Terms


TSG Development Co EBIT Historical Data

* Premium members only.

The historical data trend for TSG Development Co's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

TSG Development Co EBIT Chart

TSG Development Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only -55.09 -67.41 -174.18 -70.05 23.76

TSG Development Co Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -72.65 -36.08 44.54 32.06 -16.76

ROCO:3521 vs PWR, FIX, EME: EBIT Comparison

For the Engineering & Construction subindustry, TSG Development Co's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


TSG Development Co EV-to-EBIT vs Construction Industry

For the Construction industry and Industrials sector, TSG Development Co's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where TSG Development Co's EV-to-EBIT falls into.


ROCO:3521
58GF Score
TSG Development Co Ltd ROCO:3521
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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TSG Development Co EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was NT$23.8 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of NT$23.8 Mil mean?
TSG Development Co (ROCO:3521) has a EBIT of NT$23.8 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on TSG Development Co.
Is TSG Development Co's EBIT too high?
TSG Development Co's current EBIT is NT$23.8 Mil. Overall, TSG Development Co has a GF Score™ of 58/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TSG Development Co's EBIT compare to PWR and FIX?
TSG Development Co's EBIT of NT$23.8 Mil can be compared against companies in the Construction industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Construction company?
A good EBIT depends on the Construction industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on TSG Development Co. TSG Development Co's current EBIT is NT$23.8 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TSG Development Co stock overvalued right now?
Based on GuruFocus' analysis, TSG Development Co (ROCO:3521) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$10.12, compared to a current price of NT$12.10 — trading 19.6% above its estimated fair value. The current EBIT is NT$23.8 Mil. TSG Development Co's overall GF Score™ is 58/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For TSG Development Co (ROCO:3521), the current EBIT is NT$23.8 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is TSG Development Co (ROCO:3521) Overvalued in 2026?

Based on GuruFocus' analysis, TSG Development Co stock appears to be overvalued. The current stock price of NT$12.10 is trading 19.6% above its estimated GF Value™ of NT$10.12. GuruFocus considers TSG Development Co to be Modestly Overvalued.

Key valuation signals for ROCO:3521:

  • EBIT: NT$23.8 Mil
  • GF Value™: NT$10.12 vs. price of NT$12.10 (19.6% above fair value)
  • GF Score™: 58/100 with 2 warning signs

No single metric tells the full story. See the ROCO:3521 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


TSG Development Co Business Description

Address 25th Floor, No. 502, Jiuru 1st Road, Sanmin District, Kaohsiung City, Taipei, TWN, 235
TSG Development Co Ltd Formerly Datavan International Corp is engaged in the research and development, design, manufacture and sale of endpoint sales system software and hardware, import and export of computer information equipment and its peripheral equipment parts and accessories, and development and sale of residential and buildings for lease, investment in construction of public works and real estate trading. It operates in two reportable operating segments: Technology Business Division; and Construction Business Division, which earns majority of the revenue from real estate construction and related sales management services and other businesses. Geographically, its operations are spread across Asia, Europe, Americas and Other with majority of the revenue generating from Asia.
58GF Score

Get the complete analysis for ROCO:3521

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

NT$12.10
Price
NT$10.12
GF Value