Topkey (TPE:4536) Research & Development: NT$506 Mil (TTM As of Dec. 2025)


TPE:4536 Topkey Corp TPE:4536
85 GF Score
Price NT$164.00
GF Value NT$175.89
Valuation Fairly Valued
! 4 Warning Signs
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What is Topkey Research & Development?

Topkey TPE:4536 -1.20% 85 Research & Development is NT$506 Mil as of Dec. 2025. GuruFocus rates TPE:4536 with a GF Score™ of 85/100 and a GF Value™ of NT$175.89 (Fairly Valued). The stock has 4 warning signs investors should review.

Research & Development is the aggregate amount of research and development expenses during the year. Topkey's Research & Development for the three months ended in Dec. 2025 was NT$148 Mil. Its Research & Development for the trailing twelve months (TTM) ended in Dec. 2025 was NT$506 Mil.

Topkey  (TPE:4536) 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.

Topkey Research & Development Related Terms

Topkey Research & Development Historical Data

* Premium members only.

The historical data trend for Topkey'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.

Topkey Research & Development Chart

Topkey 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 342.16 402.68 447.71 469.31 505.79

Topkey 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 145.37 122.32 116.03 119.00 148.43
TPE:4536
85GF Score
Topkey Corp TPE:4536
Research & Development is just one metric. See GF Score™, valuation, warning signs, and more.
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Topkey 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$506 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$506 Mil mean?
Topkey (TPE:4536) has a Research & Development of NT$506 Mil as of Dec. 2025. Research and development expense is the total cost for research and development activities. View historical data on Topkey and its competitors.
Is Topkey's Research & Development too high?
Topkey's current Research & Development is NT$506 Mil. Overall, Topkey has a GF Score™ of 85/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Topkey's Research & Development compare to AS and HAS?
Topkey's Research & Development of NT$506 Mil can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?
A good Research & Development depends on the Travel & Leisure 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 Topkey and its competitors. Topkey's current Research & Development is NT$506 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Topkey stock overvalued right now?
Based on GuruFocus' analysis, Topkey (TPE:4536) is currently considered Fairly Valued. The stock's GF Value™ is NT$175.89, compared to a current price of NT$164.00 — trading 6.8% below its estimated fair value. The current Research & Development is NT$506 Mil. Topkey's overall GF Score™ is 85/100 with 4 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 Topkey (TPE:4536), the current Research & Development is NT$506 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 Topkey (TPE:4536) Overvalued in 2026?

Based on GuruFocus' analysis, Topkey stock appears to be undervalued. The current stock price of NT$164.00 is trading 6.8% below its estimated GF Value™ of NT$175.89. GuruFocus considers Topkey to be Fairly Valued.

Key valuation signals for TPE:4536:

  • Research & Development: NT$506 Mil
  • GF Value™: NT$175.89 vs. price of NT$164.00 (6.8% below fair value)
  • GF Score™: 85/100 with 4 warning signs

No single metric tells the full story. See the TPE:4536 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Topkey Business Description

Address No. 18, 20th Road, Industrial Park, Taichung, TWN
Topkey Corp is mainly engaged in the production, processing, sale, international trading, and agency services of sporting goods, carbon fiber products, glass fiber products, and composite materials. Revenue from the sales of goods comes from the sales of sporting goods which accounts for the majority of the company's revenue, aviation products, and medical products. Revenue from the rendering of services comes from professional labor services. The company operates in Asia which is also its key revenue-generating market, Europe, America, and other regions.
85GF Score

Get the complete analysis for TPE:4536

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

NT$164.00
Price
NT$175.89
GF Value