Taiwan Mask (TPE:2338) ROCE %: 9.90% (As of Mar. 2026)

What is Taiwan Mask ROCE %?

Taiwan Mask TPE:2338 -0.62% 68 ROCE % is 9.90% as of Mar. 2026. GuruFocus rates TPE:2338 with a GF Score™ of 68/100 and a GF Value™ of NT$41.36 (Modestly Overvalued). The stock has 5 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Taiwan Mask's annualized ROCE % for the quarter that ended in Mar. 2026 was 9.90%.

Taiwan Mask (TPE:2338) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Taiwan Mask ROCE % Related Terms

Taiwan Mask ROCE % Historical Data

* Premium members only.

The historical data trend for Taiwan Mask's ROCE % 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.

Taiwan Mask ROCE % Chart

Taiwan Mask Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

ROCE %

Get a 7-Day Free Trial

16.03

8.13

6.34

-2.70

-11.67

Taiwan Mask Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
ROCE %	Get a 7-Day Free Trial															-8.02	-17.06	-5.29	-17.43	9.90

68GF Score

Taiwan Mask Corp TPE:2338

ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

Taiwan Mask ROCE % Calculation

Taiwan Mask's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2025 )		(A: Dec. 2024 )		(A: Dec. 2025 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2025 )		(A: Dec. 2024 )		(A: Dec. 2025 )
	=	-1197.718	/	( ( (20815.145 - 9452.248)	+	(17480.097 - 8309.868) )	/ 2 )
	=	-1197.718	/	( (11362.897	+	9170.229)	/ 2 )
	=	-1197.718	/	10266.563
	=	-11.67 %

Taiwan Mask's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	957.176	/	( ( (17480.097 - 8309.868)	+	(18260.89 - 8085.052) )	/ 2 )
	=	957.176	/	( ( 9170.229	+	10175.838 )	/ 2 )
	=	957.176	/	9673.0335
	=	9.90 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

Frequently Asked Questions Learn more about ROCE % →

What does a ROCE % of 9.90% mean?

Taiwan Mask (TPE:2338) has a ROCE % of 9.90% as of Mar. 2026.

Is Taiwan Mask's ROCE % too high?

Taiwan Mask's current ROCE % is 9.90%. The Semiconductors industry median ROCE % is 4.84. Taiwan Mask's value of 9.90% is 104.5% above this industry median. Overall, Taiwan Mask has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Taiwan Mask's ROCE % compare to AMAT and LRCX?

Taiwan Mask's ROCE % of 9.90% can be compared against companies in the Semiconductors industry. The industry median ROCE % is 4.84. Taiwan Mask's value of 9.90% is 104.5% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good ROCE % for a Semiconductors company?

The median ROCE % among Semiconductors companies is 4.84, based on 1,015 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Taiwan Mask's current ROCE % of 9.90% is 104.5% 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 ROCE % mean?

A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Semiconductors industry, the median ROCE % is 4.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Taiwan Mask's current ROCE % is 9.90%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Taiwan Mask stock overvalued right now?

Based on GuruFocus' analysis, Taiwan Mask (TPE:2338) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$41.36, compared to a current price of NT$47.70 — trading 15.3% above its estimated fair value. The current ROCE % is 9.90% and 104.5% above the Semiconductors industry median of 4.84. Taiwan Mask's overall GF Score™ is 68/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is ROCE % calculated?

ROCE % is calculated from a company's financial statements. For Taiwan Mask (TPE:2338), the current ROCE % is 9.90% as of Mar. 2026. 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 Taiwan Mask (TPE:2338) Overvalued in 2026?

Based on GuruFocus' analysis, Taiwan Mask stock appears to be overvalued. The current stock price of NT$47.70 is trading 15.3% above its estimated GF Value™ of NT$41.36. GuruFocus considers Taiwan Mask to be Modestly Overvalued.

Key valuation signals for TPE:2338:

ROCE %: 9.90%
GF Value™: NT$41.36 vs. price of NT$47.70 (15.3% above fair value)
GF Score™: 68/100 with 5 warning signs
Industry Position: 104.5% above the Semiconductors median

No single metric tells the full story. See the TPE:2338 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Taiwan Mask Business Description

Industry Technology Semiconductors

Comparable Companies TPE:2369 ROCO:5443 TPE:3028 ROCO:3551 ROCO:6261 TPE:3055 TPE:5222 ROCO:6920 ROCO:4760 TPE:6533 XAMS:ASML AMAT LRCX KLAC TSE:8035 TSE:6857 SZSE:002371 TER SHSE:688012 XAMS:ASM

Address No. 11, Chuangxin 1st Road, Hsinchu Science Park, Hsinchu, TWN

Website https://www.tmcnet.com.tw

Taiwan Mask Corp manufactures and markets photomasks products for semiconductor production. The company also produces and sells products such as masks and integrated circuits used in semiconductors, and has a diversified sales base. The product segment of the company comprises Photomask and the semiconductor segment. The company generates its revenue from the Photomask and semiconductor segments.

68GF Score

Get the complete analysis for TPE:2338

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

NT$47.70

Price

NT$41.36

GF Value

View TPE:2338 Analysis

See ROCE % data for all stocks →