TSRC (TPE:2103) Research & Development: NT$410 Mil (TTM As of Dec. 2025)


TPE:2103 TSRC Corp TPE:2103
66 GF Score
Price NT$21.45
GF Value NT$26.56
Valuation Modestly Undervalued
! 11 Warning Signs
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What is TSRC Research & Development?

TSRC TPE:2103 -2.28% 66 Research & Development is NT$410 Mil as of Dec. 2025. GuruFocus rates TPE:2103 with a GF Score™ of 66/100 and a GF Value™ of NT$26.56 (Modestly Undervalued). The stock has 11 warning signs investors should review.

Research & Development is the aggregate amount of research and development expenses during the year. TSRC's Research & Development for the three months ended in Dec. 2025 was NT$109 Mil. Its Research & Development for the trailing twelve months (TTM) ended in Dec. 2025 was NT$410 Mil.

TSRC  (TPE:2103) Research & Development Explanation

If competitive advantage is created by a patent or tech advantage, at some point it will disappear.

High R&D usually dictates high SG&A which threatens the competitive advantage.

TSRC Research & Development Related Terms

TSRC Research & Development Historical Data

* Premium members only.

The historical data trend for TSRC's Research & Development 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.

TSRC Research & Development Chart

TSRC Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Research & Development
Get a 7-Day Free Trial Premium Member Only Premium Member Only 371.68 392.12 396.69 427.40 409.77

TSRC Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
Research & Development 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 120.30 97.16 100.40 102.94 109.26
TPE:2103
66GF Score
TSRC Corp TPE:2103
Research & Development is just one metric. See GF Score™, valuation, warning signs, and more.
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TSRC Research & Development Calculation

This is the expense the company spent on research and development.

Research & Development for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was NT$410 Mil.

* 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.

Frequently Asked Questions Learn more about Research & Development →
What does a Research & Development of NT$410 Mil mean?
TSRC (TPE:2103) has a Research & Development of NT$410 Mil as of Dec. 2025. Research and development expense is the total cost for research and development activities. View historical data on TSRC and its competitors.
Is TSRC's Research & Development too high?
TSRC's current Research & Development is NT$410 Mil. Overall, TSRC has a GF Score™ of 66/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TSRC's Research & Development compare to LIN and SHW?
TSRC's Research & Development of NT$410 Mil can be compared against companies in the Chemicals industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Research & Development for a Chemicals company?
A good Research & Development depends on the Chemicals industry context. However, Research & Development 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 Research & Development mean?
A high Research & Development can signal that a stock is expensive relative to its fundamentals. Research and development expense is the total cost for research and development activities. View historical data on TSRC and its competitors. TSRC's current Research & Development is NT$410 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TSRC stock overvalued right now?
Based on GuruFocus' analysis, TSRC (TPE:2103) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$26.56, compared to a current price of NT$21.45 — trading 19.2% below its estimated fair value. The current Research & Development is NT$410 Mil. TSRC's overall GF Score™ is 66/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Research & Development calculated?
Research & Development is calculated from a company's financial statements. For TSRC (TPE:2103), the current Research & Development is NT$410 Mil 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 TSRC (TPE:2103) Overvalued in 2026?

Based on GuruFocus' analysis, TSRC stock appears to be undervalued. The current stock price of NT$21.45 is trading 19.2% below its estimated GF Value™ of NT$26.56. GuruFocus considers TSRC to be Modestly Undervalued.

Key valuation signals for TPE:2103:

  • Research & Development: NT$410 Mil
  • GF Value™: NT$26.56 vs. price of NT$21.45 (19.2% below fair value)
  • GF Score™: 66/100 with 11 warning signs

No single metric tells the full story. See the TPE:2103 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

TSRC Business Description

Address No. 2, Singgong Road, Dashe District, Kaohsiung, TWN
TSRC Corporation is a rubber manufacturer based out of Taiwan. The company offers tire products globally, with Asian markets accounting for the majority of the company's sales. Product offerings are divided into the Synthetic Rubber business and Applied polymer business. Under the Synthetic Rubber business, tires are built to improve abrasion resistance and provide low rolling resistance and wet grip resistance. Consumers of TSRC Corp tire products depend on products to deliver reduced fuel consumption and meet a host of regulations and environmental conditions. Products under the Applied Polymers business are often used in high-grade shoe soles, asphalt modification, plastic modification, adhesives, and other end markets. Its geographical segments are Asia, America, Europe, and Others.
66GF Score

Get the complete analysis for TPE:2103

Research & Development is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

NT$21.45
Price
NT$26.56
GF Value