Test ResearchTPE:3030 -4.55%92 Net Margin % is 32.97% as of Dec. 2025, which is 51% above its 10-year median of 21.86. 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 2,473 Hardware companies, Test Research ranks better than 96.89% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Test Research's Net Income for the
three
months ended in Dec. 2025 was NT$686 Mil. Test Research's Revenue for the
three
months ended in Dec. 2025 was NT$2,081 Mil. Therefore, Test Research's net margin for the quarter that ended in Dec. 2025 was 32.97%.
The historical rank and industry rank for Test Research's Net Margin % or its related term are showing as below:
TPE:3030'
s Net Margin % Range Over the Past 10 Years
Min: 13.85 Med: 21.86 Max: 29.27
Current: 29.27
TPE:3030's Net Margin % is ranked better than 96.89% of 2473
companies
in the Hardware industry
Industry Median: 2.7
vs TPE:3030: 29.27
Test Research (TPE:3030) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Test Research Net Margin % Related Terms
Test Research Net Margin % Historical Data
* Premium members only.
The historical data trend for Test Research's Net 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: Net Margin % Comparison
For the Scientific & Technical Instruments subindustry, Test Research's Net Margin %, along with its competitors' market caps and Net 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 Net Margin % vs Hardware Industry
For the Hardware industry and Technology sector, Test Research's Net Margin % distribution charts can be found below:
* The bar in red indicates where Test Research's Net 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 Net Margin % of 32.97% as of Dec. 2025. Net margin is the ratio of total net income to net sales. View historical data on Test Research and its competitors. This is 51% above median its historical median of 21.86. Over the past decade, Test Research's Net Margin % has ranged from 13.85 to 29.27. According to the industry distribution chart, Test Research ranks #77 out of 2473 companies in the Hardware industry, placing it in the top 3.1%.
Is Test Research's Net Margin % too high?
Test Research's current Net Margin % of 32.97% is 51% above median its 10-year median of 21.86. Over the past 10 years, this metric has ranged from a low of 13.85 to a high of 29.27. The Hardware industry median Net Margin % is 2.70. Test Research's value of 32.97% is 1121.1% above this industry median. Based on the distribution chart, Test Research ranks #77 out of 2473 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 Net Margin % compare to COHR and KEYS?
According to the Hardware industry distribution chart, Test Research ranks #77 out of 2473 companies for Net Margin %. This places Test Research in the top 3% of its industry — outperforming the majority of peers. The industry median Net Margin % is 2.70. Test Research's value of 32.97% is 1121.1% above this benchmark. Historically, Test Research's own Net Margin % has ranged from 13.85 to 29.27 over the past decade. While the company's 10-year median is 21.86 vs. the industry median of 2.70, 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 Net Margin % for a Hardware company?
The median Net Margin % among Hardware companies is 2.70, based on 2,473 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Test Research's current Net Margin % of 32.97% is 1121.1% 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Test Research and its competitors. For the Hardware industry, the median Net Margin % is 2.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Test Research's current Net Margin % is 32.97%, which is 51% above median its own 10-year median of 21.86. 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 Net Margin % is 32.97%, which is 51% above median its 10-year median of 21.86 and 1121.1% above the Hardware industry median of 2.70. 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 Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Test Research (TPE:3030), the current Net Margin % is 32.97% 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:
Net Margin %: 32.97% (51% above median its 10-year median of 21.86)
GF Value™: NT$175.88 vs. price of NT$315.00 (79.1% above fair value)
Industry Position: 1121.1% above the Hardware median (#77 of 2473)
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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Net Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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