Test ResearchTPE:3030 -4.55%92 FCF Margin % is 28.99% as of Dec. 2025, which is 101% above its 10-year median of 14.44. GuruFocus rates TPE:3030 with a GF Score™ of 92/100 and a GF Value™ of NT$175.88 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 2,471 Hardware companies, Test Research ranks better than 91.02% on this metric.
FCF Margin % is calculated as Free Cash Flow divided by its Revenue. Test Research's Free Cash Flow for the
three
months ended in Dec. 2025 was NT$603 Mil. Test Research's Revenue for the
three
months ended in Dec. 2025 was NT$2,081 Mil. Therefore, Test Research's FCF Margin % for the quarter that ended in Dec. 2025 was 28.99%.
The historical rank and industry rank for Test Research's FCF Margin % or its related term are showing as below:
TPE:3030'
s FCF Margin % Range Over the Past 10 Years
Min: 5.75 Med: 14.44 Max: 29.74
Current: 16.85
During the past 13 years, the highest FCF Margin % of Test Research was 29.74%. The lowest was 5.75%. And the median was 14.44%.
TPE:3030's FCF Margin % is ranked better than 91.02% of 2471
companies
in the Hardware industry
Industry Median: 0.63
vs TPE:3030: 16.85
Test Research FCF Margin % Related Terms
Test Research FCF Margin % Historical Data
* Premium members only.
The historical data trend for Test Research's FCF Margin % 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.
TPE:3030 vs COHR, KEYS, GRMN: FCF Margin % Comparison
For the Scientific & Technical Instruments subindustry, Test Research's FCF Margin %, along with its competitors' market caps and FCF Margin % 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.
Test Research FCF Margin % vs Hardware Industry
For the Hardware industry and Technology sector, Test Research's FCF Margin % distribution charts can be found below:
* The bar in red indicates where Test Research's FCF Margin % falls into.
* 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.
Test Research (TPE:3030) has a FCF Margin % of 28.99% as of Dec. 2025. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Test Research and its competitors. This is 101% above median its historical median of 14.44. Over the past decade, Test Research's FCF Margin % has ranged from 5.75 to 29.74. According to the industry distribution chart, Test Research ranks #222 out of 2471 companies in the Hardware industry, placing it in the top 9%.
Is Test Research's FCF Margin % too high?
Test Research's current FCF Margin % of 28.99% is 101% above median its 10-year median of 14.44. Over the past 10 years, this metric has ranged from a low of 5.75 to a high of 29.74. The Hardware industry median FCF Margin % is 0.63. Test Research's value of 28.99% is 4501.6% above this industry median. Based on the distribution chart, Test Research ranks #222 out of 2471 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Test Research has a GF Score™ of 92/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Test Research's FCF Margin % compare to COHR and KEYS?
According to the Hardware industry distribution chart, Test Research ranks #222 out of 2471 companies for FCF Margin %. This places Test Research in the top 9% of its industry — outperforming the majority of peers. The industry median FCF Margin % is 0.63. Test Research's value of 28.99% is 4501.6% above this benchmark. Historically, Test Research's own FCF Margin % has ranged from 5.75 to 29.74 over the past decade. While the company's 10-year median is 14.44 vs. the industry median of 0.63, Test Research has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good FCF Margin % for a Hardware company?
The median FCF Margin % among Hardware companies is 0.63, based on 2,471 companies in the industry. Companies in the top quartile (top 25%) have a FCF Margin % significantly above this median, while those in the bottom quartile fall well below. However, FCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Test Research's current FCF Margin % of 28.99% is 4501.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high FCF Margin % mean?
A high FCF Margin % can signal that a stock is expensive relative to its fundamentals. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Test Research and its competitors. For the Hardware industry, the median FCF Margin % is 0.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Test Research's current FCF Margin % is 28.99%, which is 101% above median its own 10-year median of 14.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Test Research stock overvalued right now?
Based on GuruFocus' analysis, Test Research (TPE:3030) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$175.88, compared to a current price of NT$315.00 — trading 79.1% above its estimated fair value. The current FCF Margin % is 28.99%, which is 101% above median its 10-year median of 14.44 and 4501.6% above the Hardware industry median of 0.63. Test Research's overall GF Score™ is 92/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is FCF Margin % calculated?
FCF Margin % is calculated from a company's financial statements. For Test Research (TPE:3030), the current FCF Margin % is 28.99% 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 Test Research (TPE:3030) Overvalued in 2026?
Based on GuruFocus' analysis, Test Research stock appears to be overvalued.
The current stock price of NT$315.00 is trading 79.1% above its estimated GF Value™ of NT$175.88.
GuruFocus considers Test Research to be Significantly Overvalued.
Key valuation signals for TPE:3030:
FCF Margin %: 28.99% (101% above median its 10-year median of 14.44)
GF Value™: NT$175.88 vs. price of NT$315.00 (79.1% above fair value)
Industry Position: 4501.6% above the Hardware median (#222 of 2471)
No single metric tells the full story. See the TPE:3030 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Test Research Inc designs testing equipment for industrial applications. The firm focuses on designing, assembling, manufacturing, selling, repairing, and maintaining automated inspection and testing equipment. The firm receives a majority of its revenue from Asia and the rest from America, Europe, and other regions.
92GF Score
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FCF Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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