Test ResearchTPE:3030 +1.87%92 Gross Margin % is 60.64% as of Dec. 2025, which is 9% above its 10-year median of 55.80. GuruFocus rates TPE:3030 with a GF Score™ of 92/100 and a GF Value™ of NT$176.16 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 2,454 Hardware companies, Test Research ranks better than 92.46% on this metric.
The historical rank and industry rank for Test Research's Gross Margin % or its related term are showing as below:
TPE:3030'
s Gross Margin % Range Over the Past 10 Years
Min: 52.97 Med: 55.8 Max: 59.54
Current: 58.35
During the past 13 years, the highestGross Margin % of Test Research was 59.54%. The lowest was 52.97%. And the median was 55.80%.
TPE:3030's Gross Margin % is ranked better than 92.46% of 2454
companies
in the Hardware industry
Industry Median: 24.53
vs TPE:3030: 58.35
Test Research had a gross margin of 60.64% for the quarter that ended in Dec. 2025 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Test Research was 1.80% per year.
Test Research (TPE:3030) 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
Test Research had a gross margin of 60.64% for the quarter that ended in Dec. 2025 => Durable 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.
Test Research Gross Margin % Related Terms
Test Research Gross Margin % Historical Data
* Premium members only.
The historical data trend for Test Research'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.
TPE:3030 vs COHR, KEYS, GRMN: Gross Margin % Comparison
For the Scientific & Technical Instruments subindustry, Test Research'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.
Test Research Gross Margin % vs Hardware Industry
For the Hardware industry and Technology sector, Test Research's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Test Research's Gross 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.
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.
Test Research (TPE:3030) has a Gross Margin % of 60.64% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Test Research and its competitors. This is near median its historical median of 55.80. Over the past decade, Test Research's Gross Margin % has ranged from 52.97 to 59.54. According to the industry distribution chart, Test Research ranks #185 out of 2454 companies in the Hardware industry, placing it in the top 7.5%.
Is Test Research's Gross Margin % too high?
Test Research's current Gross Margin % of 60.64% is near median its 10-year median of 55.80. Over the past 10 years, this metric has ranged from a low of 52.97 to a high of 59.54. The Hardware industry median Gross Margin % is 24.53. Test Research's value of 60.64% is 147.2% above this industry median. Based on the distribution chart, Test Research ranks #185 out of 2454 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 Gross Margin % compare to COHR and KEYS?
According to the Hardware industry distribution chart, Test Research ranks #185 out of 2454 companies for Gross Margin %. This places Test Research in the top 8% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 24.53. Test Research's value of 60.64% is 147.2% above this benchmark. Historically, Test Research's own Gross Margin % has ranged from 52.97 to 59.54 over the past decade. While the company's 10-year median is 55.80 vs. the industry median of 24.53, 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 Gross Margin % for a Hardware company?
The median Gross Margin % among Hardware companies is 24.53, based on 2,454 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. Test Research's current Gross Margin % of 60.64% is 147.2% 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 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 Test Research and its competitors. For the Hardware industry, the median Gross Margin % is 24.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Test Research's current Gross Margin % is 60.64%, which is near median its own 10-year median of 55.80. 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$176.16, compared to a current price of NT$327.50 — trading 85.9% above its estimated fair value. The current Gross Margin % is 60.64%, which is near median its 10-year median of 55.80 and 147.2% above the Hardware industry median of 24.53. 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 Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Test Research (TPE:3030), the current Gross Margin % is 60.64% 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$327.50 is trading 85.9% above its estimated GF Value™ of NT$176.16.
GuruFocus considers Test Research to be Significantly Overvalued.
Key valuation signals for TPE:3030:
Gross Margin %: 60.64% (near median its 10-year median of 55.80)
GF Value™: NT$176.16 vs. price of NT$327.50 (85.9% above fair value)
Industry Position: 147.2% above the Hardware median (#185 of 2454)
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
Get the complete analysis for TPE:3030
Gross Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TPE:3030 has been successfully added to your 
