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Newmax Technology CoROCO:3630 -0.56%58 Piotroski F-Score is 7 as of Jul. 17, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates ROCO:3630 with a GF Score™ of 58/100 and a GF Value™ of NT$38.45 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 2,431 Hardware companies, Newmax Technology Co ranks better than 91.16% on this metric.
Good Sign:
Piotroski F-Score is 7, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Newmax Technology Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Newmax Technology Co's Piotroski F-Score or its related term are showing as below:
ROCO:3630'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 6 Max: 7
Current: 7
During the past 13 years, the highest Piotroski F-Score of Newmax Technology Co was 7. The lowest was 1. And the median was 6.
Newmax Technology Co (ROCO:3630) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Newmax Technology Co Piotroski F-Score Related Terms
Newmax Technology Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Newmax Technology Co's Piotroski F-Score 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.
ROCO:3630 vs APH, GLW: Piotroski F-Score Comparison
For the Electronic Components subindustry, Newmax Technology Co's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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.
Newmax Technology Co Piotroski F-Score vs Hardware Industry
For the Hardware industry and Technology sector, Newmax Technology Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Newmax Technology Co's Piotroski F-Score 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.
This Year (Dec25) TTM:
Last Year (Dec24) TTM:
Net Income was -110.813 + 624.632 + -74.521 + -63.569 = NT$376 Mil. Cash Flow from Operations was 19.922 + 123.841 + -203.762 + 79.626 = NT$20 Mil. Revenue was 506.75 + 617.775 + 583.686 + 560.21 = NT$2,268 Mil. Gross Profit was 45.17 + 92.758 + 24.944 + 23.389 = NT$186 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was
(5062.189 + 5411.475 + 4247.529 + 4132.345 + 4200.176) / 5 = NT$4610.7428 Mil. Total Assets at the begining of this year (Dec24) was NT$5,062 Mil. Long-Term Debt & Capital Lease Obligation was NT$92 Mil. Total Current Assets was NT$2,393 Mil. Total Current Liabilities was NT$1,036 Mil.
Net Income was -78.442 + -101.33 + -151.276 + -133.951 = NT$-465 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Newmax Technology Co's current Net Income (TTM) was 376.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Newmax Technology Co's return on assets of this year was 0.07422263. Newmax Technology Co's return on assets of last year was -0.07816582.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Newmax Technology Co's gearing of this year was 0.02004775. Newmax Technology Co's gearing of last year was 0.28983218.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Newmax Technology Co's current ratio of this year was 2.31047406. Newmax Technology Co's current ratio of last year was 1.02685841.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Newmax Technology Co's number of shares in issue this year was 204.229. Newmax Technology Co's number of shares in issue last year was 184.192.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Newmax Technology Co's gross margin of this year was 0.08211042. Newmax Technology Co's gross margin of last year was 0.0445953.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Newmax Technology Co's asset turnover of this year was 0.44811069. Newmax Technology Co's asset turnover of last year was 0.31988144.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Newmax Technology Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Newmax Technology Co (ROCO:3630) has a Piotroski F-Score of 7 as of Jul. 17, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Newmax Technology Co and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Newmax Technology Co's Piotroski F-Score has ranged from 1.00 to 7.00. According to the industry distribution chart, Newmax Technology Co ranks #215 out of 2431 companies in the Hardware industry, placing it in the top 8.8%.
Is Newmax Technology Co's Piotroski F-Score too high?
Newmax Technology Co's current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 7.00. The Hardware industry median Piotroski F-Score is 5.00. Newmax Technology Co's value of 7 is 40% above this industry median. Based on the distribution chart, Newmax Technology Co ranks #215 out of 2431 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Newmax Technology Co has a GF Score™ of 58/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Newmax Technology Co's Piotroski F-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Newmax Technology Co ranks #215 out of 2431 companies for Piotroski F-Score. This places Newmax Technology Co in the top 9% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Newmax Technology Co's value of 7 is 40% above this benchmark. Historically, Newmax Technology Co's own Piotroski F-Score has ranged from 1.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Newmax Technology Co 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 Piotroski F-Score for a Hardware company?
The median Piotroski F-Score among Hardware companies is 5.00, based on 2,431 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Newmax Technology Co's current Piotroski F-Score of 7 is 40% 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 Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Newmax Technology Co and its competitors. For the Hardware industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Newmax Technology Co's current Piotroski F-Score is 7, which is 17% above median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Newmax Technology Co stock overvalued right now?
Based on GuruFocus' analysis, Newmax Technology Co (ROCO:3630) is currently considered Possible Value Trap. The stock's GF Value™ is NT$38.45, compared to a current price of NT$26.85 — trading 30.2% below its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 40% above the Hardware industry median of 5.00. Newmax Technology Co's overall GF Score™ is 58/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Newmax Technology Co (ROCO:3630), the current Piotroski F-Score is 7 as of Jul. 17, 2026. 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 Newmax Technology Co (ROCO:3630) Overvalued in 2026?
Based on GuruFocus' analysis, Newmax Technology Co stock appears to be undervalued.
The current stock price of NT$26.85 is trading 30.2% below its estimated GF Value™ of NT$38.45.
GuruFocus considers Newmax Technology Co to be Possible Value Trap.
Key valuation signals for ROCO:3630:
Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
GF Value™: NT$38.45 vs. price of NT$26.85 (30.2% below fair value)
Industry Position: 40% above the Hardware median (#215 of 2431)
No single metric tells the full story. See the ROCO:3630 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Newmax Technology Co Ltd is a company mainly engaged in the research, design, development, manufacture, and marketing of optics application products. The company manufactures optics mirrors and plastic lenses and sells them to optical equipment manufacturers and computer peripheral digital imaging manufacturers. The company offers photographic/optical equipment, electronic parts/components, and electrical machinery/supplies. The company generates the majority of its revenue from China.
58GF Score
Get the complete analysis for ROCO:3630
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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