Test Research (TPE:3030) ROCE %: 35.32% (As of Dec. 2025)

What is Test Research ROCE %?

Test Research TPE:3030 -4.55% 92 ROCE % is 35.32% as of Dec. 2025. 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.

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. Test Research's annualized ROCE % for the quarter that ended in Dec. 2025 was 35.32%.

Test Research (TPE:3030) 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.

Test Research ROCE % Related Terms

Test Research ROCE % Historical Data

* Premium members only.

The historical data trend for Test Research'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.

Test Research ROCE % Chart

Test Research Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

ROCE %

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25.12

35.11

16.74

27.24

32.48

Test Research 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															26.41	32.36	29.38	36.41	35.32

92GF Score

Test Research Inc TPE:3030

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

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Test Research ROCE % Calculation

Test Research'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 )
	=	2998.947	/	( ( (10142.852 - 1588.143)	+	(12156.354 - 2242.068) )	/ 2 )
	=	2998.947	/	( (8554.709	+	9914.286)	/ 2 )
	=	2998.947	/	9234.4975
	=	32.48 %

Test Research'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 )
	=	3365.776	/	( ( (11364.772 - 2222.28)	+	(12156.354 - 2242.068) )	/ 2 )
	=	3365.776	/	( ( 9142.492	+	9914.286 )	/ 2 )
	=	3365.776	/	9528.389
	=	35.32 %

(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 35.32% mean?

Test Research (TPE:3030) has a ROCE % of 35.32% as of Dec. 2025.

Is Test Research's ROCE % too high?

Test Research's current ROCE % is 35.32%. The Hardware industry median ROCE % is 5.83. Test Research's value of 35.32% is 505.8% above this industry median. 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 ROCE % compare to COHR and KEYS?

Test Research's ROCE % of 35.32% can be compared against companies in the Hardware industry. The industry median ROCE % is 5.83. Test Research's value of 35.32% is 505.8% 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. Test Research's current ROCE % of 35.32% is 505.8% 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. Test Research's current ROCE % is 35.32%. 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 ROCE % is 35.32% and 505.8% above the Hardware industry median of 5.83. 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 ROCE % calculated?

ROCE % is calculated from a company's financial statements. For Test Research (TPE:3030), the current ROCE % is 35.32% 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:

ROCE %: 35.32%
GF Value™: NT$175.88 vs. price of NT$315.00 (79.1% above fair value)
GF Score™: 92/100 with 1 warning sign
Industry Position: 505.8% above the Hardware median

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 Business Description

Industry Technology Hardware

Comparable Companies ROCO:3587 ROCO:5309 TPE:3059 TPE:2423 ROCO:4549 ROCO:8182 ROCO:8289 ROCO:6516 ROCO:3306 ROCO:3499 TSE:6861 COHR KEYS GRMN TPE:2360 TDY OSTO:HEXA B MKSI FTV TRMB

Address No. 45, Dexing W. Road, 7th Floor, Shilin District, Taipei, TWN, 11158

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

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

NT$315.00

Price

NT$175.88

GF Value

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