Good Will Instrument Co (TPE:2423) ROCE %: 20.52% (As of Dec. 2025)

What is Good Will Instrument Co ROCE %?

Good Will Instrument Co TPE:2423 -6.01% 75 ROCE % is 20.52% as of Dec. 2025. GuruFocus rates TPE:2423 with a GF Score™ of 75/100 and a GF Value™ of NT$41.45 (Significantly Overvalued).

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. Good Will Instrument Co's annualized ROCE % for the quarter that ended in Dec. 2025 was 20.52%.

Good Will Instrument Co (TPE:2423) 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.

Good Will Instrument Co ROCE % Related Terms

Good Will Instrument Co ROCE % Historical Data

* Premium members only.

The historical data trend for Good Will Instrument Co'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.

Good Will Instrument Co ROCE % Chart

Good Will Instrument Co Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

ROCE %

Get a 7-Day Free Trial

15.34

19.78

19.62

15.33

17.65

Good Will Instrument Co Quarterly Data
	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25
ROCE %	Get a 7-Day Free Trial															19.21	17.75	14.85	20.98	20.52

75GF Score

Good Will Instrument Co Ltd TPE:2423

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

View Full Analysis

Good Will Instrument Co ROCE % Calculation

Good Will Instrument Co'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 )
	=	531.468	/	( ( (3562.083 - 623.648)	+	(3738.017 - 653.183) )	/ 2 )
	=	531.468	/	( (2938.435	+	3084.834)	/ 2 )
	=	531.468	/	3011.6345
	=	17.65 %

Good Will Instrument Co's ROCE % of for the quarter that ended in Dec. 2025 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2025 )		(Q: Sep. 2025 )		(Q: Dec. 2025 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2025 )		(Q: Sep. 2025 )		(Q: Dec. 2025 )
	=	614.584	/	( ( (3692.986 - 787.966)	+	(3738.017 - 653.183) )	/ 2 )
	=	614.584	/	( ( 2905.02	+	3084.834 )	/ 2 )
	=	614.584	/	2994.927
	=	20.52 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT data.

Frequently Asked Questions Learn more about ROCE % →

What does a ROCE % of 20.52% mean?

Good Will Instrument Co (TPE:2423) has a ROCE % of 20.52% as of Dec. 2025.

Is Good Will Instrument Co's ROCE % too high?

Good Will Instrument Co's current ROCE % is 20.52%. The Hardware industry median ROCE % is 5.83. Good Will Instrument Co's value of 20.52% is 252% above this industry median. Overall, Good Will Instrument Co has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Good Will Instrument Co's ROCE % compare to COHR and KEYS?

Good Will Instrument Co's ROCE % of 20.52% can be compared against companies in the Hardware industry. The industry median ROCE % is 5.83. Good Will Instrument Co's value of 20.52% is 252% 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 Hardware company?

The median ROCE % among Hardware companies is 5.83, based on 2,445 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. Good Will Instrument Co's current ROCE % of 20.52% is 252% 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 Hardware industry, the median ROCE % is 5.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Good Will Instrument Co's current ROCE % is 20.52%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Good Will Instrument Co stock overvalued right now?

Based on GuruFocus' analysis, Good Will Instrument Co (TPE:2423) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$41.45, compared to a current price of NT$73.50 — trading 77.3% above its estimated fair value. The current ROCE % is 20.52% and 252% above the Hardware industry median of 5.83. Good Will Instrument Co's overall GF Score™ is 75/100. 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 Good Will Instrument Co (TPE:2423), the current ROCE % is 20.52% 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 Good Will Instrument Co (TPE:2423) Overvalued in 2026?

Based on GuruFocus' analysis, Good Will Instrument Co stock appears to be overvalued. The current stock price of NT$73.50 is trading 77.3% above its estimated GF Value™ of NT$41.45. GuruFocus considers Good Will Instrument Co to be Significantly Overvalued.

Key valuation signals for TPE:2423:

ROCE %: 20.52%
GF Value™: NT$41.45 vs. price of NT$73.50 (77.3% above fair value)
GF Score™: 75/100
Industry Position: 252% above the Hardware median

No single metric tells the full story. See the TPE:2423 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Good Will Instrument Co Business Description

Industry Technology Hardware

Comparable Companies TPE:3059 ROCO:5309 ROCO:4549 ROCO:8182 ROCO:8289 ROCO:6516 ROCO:3306 ROCO:3587 ROCO:3499 ROCO:7558 TSE:6861 COHR KEYS GRMN TPE:2360 TDY OSTO:HEXA B MKSI FTV TRMB

Address Jhongsing Road, No. 7-1, Tucheng District, New Taipei City, TWN, 236

Website https://www.gwinstek.com

Good Will Instrument Co Ltd manufactures and sells electrical testing instruments, communication equipment, and related products. Its products include oscilloscopes, spectrum analyzers, signal sources, power supplies, public broadcasting and video monitoring systems, environmental testing equipment, constant temperature and humidity equipment, and vibration test equipment, among others. Geographically, the company generates a majority of its revenue from China and the rest from Japan, Taiwan, America, Europe, and other countries.

75GF Score

Get the complete analysis for TPE:2423

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

NT$73.50

Price

NT$41.45

GF Value

View TPE:2423 Analysis

See ROCE % data for all stocks →