TSG Development Co (ROCO:3521) Gross Margin %: -40.24% (As of Dec. 2025)


ROCO:3521 TSG Development Co Ltd ROCO:3521
58 GF Score
Price NT$13.60
GF Value NT$10.06
Valuation Significantly Overvalued
! 2 Warning Signs
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What is TSG Development Co Gross Margin %?

TSG Development Co ROCO:3521 +9.68% 58 Gross Margin % is -40.24% as of Dec. 2025. GuruFocus rates ROCO:3521 with a GF Score™ of 58/100 and a GF Value™ of NT$10.06 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 1,721 Construction companies, TSG Development Co ranks worse than 53.4% on this metric.

Gross Margin % is calculated as gross profit divided by its revenue. TSG Development Co's Gross Profit for the three months ended in Dec. 2025 was NT$-4.5 Mil. TSG Development Co's Revenue for the three months ended in Dec. 2025 was NT$11.2 Mil. Therefore, TSG Development Co's Gross Margin % for the quarter that ended in Dec. 2025 was -40.24%.


The historical rank and industry rank for TSG Development Co's Gross Margin % or its related term are showing as below:

ROCO:3521' s Gross Margin % Range Over the Past 10 Years
Min: -11.87   Med: 13.89   Max: 19.08
Current: 19.08


During the past 13 years, the highest Gross Margin % of TSG Development Co was 19.08%. The lowest was -11.87%. And the median was 13.89%.

ROCO:3521's Gross Margin % is ranked worse than
53.4% of 1721 companies
in the Construction industry
Industry Median: 20.73 vs ROCO:3521: 19.08

TSG Development Co had a gross margin of -40.24% for the quarter that ended in Dec. 2025 => No sustainable competitive advantage

The 5-Year average Growth Rate of Gross Margin for TSG Development Co was 0.00% per year.


TSG Development Co  (ROCO:3521) Gross Margin % Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

TSG Development Co had a gross margin of -40.24% for the quarter that ended in Dec. 2025 => No sustainable competitive advantage


Be Aware

If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.


TSG Development Co Gross Margin % Related Terms


TSG Development Co Gross Margin % Historical Data

* Premium members only.

The historical data trend for TSG Development Co's Gross 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.

TSG Development Co Gross Margin % Chart

TSG Development Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Gross Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 12.29 13.94 11.37 -11.87 19.08

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
Gross Margin % 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 -131.70 -46.97 33.35 -1.14 -40.24

ROCO:3521 vs PWR, FIX, EME: Gross Margin % Comparison

For the Engineering & Construction subindustry, TSG Development Co's Gross Margin %, along with its competitors' market caps and Gross 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.


TSG Development Co Gross Margin % vs Construction Industry

For the Construction industry and Industrials sector, TSG Development Co's Gross Margin % distribution charts can be found below:

* The bar in red indicates where TSG Development Co's Gross Margin % falls into.


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

Gross Margin is the percentage of Gross Profit out of sales or Revenue.

TSG Development Co's Gross Margin for the fiscal year that ended in Dec. 2025 is calculated as

Gross Margin % (A: Dec. 2025 )=Gross Profit (A: Dec. 2025 ) / Revenue (A: Dec. 2025 )
=47.1 / 246.806
=(Revenue - Cost of Goods Sold) / Revenue
=(246.806 - 199.716) / 246.806
=19.08 %

TSG Development Co's Gross Margin for the quarter that ended in Dec. 2025 is calculated as


Gross Margin % (Q: Dec. 2025 )=Gross Profit (Q: Dec. 2025 ) / Revenue (Q: Dec. 2025 )
=-4.5 / 11.179
=(Revenue - Cost of Goods Sold) / Revenue
=(11.179 - 15.677) / 11.179
=-40.24 %

* 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.

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

Frequently Asked Questions Learn more about Gross Margin % →
What does a Gross Margin % of -40.24% mean?
TSG Development Co (ROCO:3521) has a Gross Margin % of -40.24% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on TSG Development Co and its competitors. According to the industry distribution chart, TSG Development Co ranks #919 out of 1721 companies in the Construction industry, placing it in the top 53.4%.
Is TSG Development Co's Gross Margin % too high?
TSG Development Co's current Gross Margin % is -40.24%. Based on the distribution chart, TSG Development Co ranks #919 out of 1721 companies in the Construction industry, which is below the industry midpoint. Overall, TSG Development Co has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TSG Development Co's Gross Margin % compare to PWR and FIX?
According to the Construction industry distribution chart, TSG Development Co ranks #919 out of 1721 companies for Gross Margin %. This places TSG Development Co in the lower half of its industry. The industry median Gross Margin % is 20.73. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a Construction company?
The median Gross Margin % among Construction companies is 20.73, based on 1,721 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % 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 Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on TSG Development Co and its competitors. For the Construction industry, the median Gross Margin % is 20.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TSG Development Co's current Gross Margin % is -40.24%. 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 Significantly Overvalued. The stock's GF Value™ is NT$10.06, compared to a current price of NT$13.60 — trading 35.2% above its estimated fair value. The current Gross Margin % is -40.24%. 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 Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For TSG Development Co (ROCO:3521), the current Gross Margin % is -40.24% 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$13.60 is trading 35.2% above its estimated GF Value™ of NT$10.06. GuruFocus considers TSG Development Co to be Significantly Overvalued.

Key valuation signals for ROCO:3521:

  • Gross Margin %: -40.24%
  • GF Value™: NT$10.06 vs. price of NT$13.60 (35.2% 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

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

NT$13.60
Price
NT$10.06
GF Value