T-win Systems (ROCO:3693) ROE %: 7.27% (As of Dec. 2025) — Near Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

ROCO:3693 T-win Systems Inc ROCO:3693
70 GF Score
Price NT$442.00
GF Value NT$284.34
Valuation Significantly Overvalued
! 2 Warning Signs
View Full Analysis

What is T-win Systems ROE %?

T-win Systems ROCO:3693 -8.01% 70 ROE % is 7.27% as of Dec. 2025, which is 1% above its 10-year median of 7.20. GuruFocus rates ROCO:3693 with a GF Score™ of 70/100 and a GF Value™ of NT$284.34 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 2,429 Hardware companies, T-win Systems ranks better than 78.43% on this metric.

ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. T-win Systems's annualized net income for the quarter that ended in Dec. 2025 was NT$374 Mil. T-win Systems's average Total Stockholders Equity over the quarter that ended in Dec. 2025 was NT$5,151 Mil. Therefore, T-win Systems's annualized ROE % for the quarter that ended in Dec. 2025 was 7.27%.

The historical rank and industry rank for T-win Systems's ROE % or its related term are showing as below:

ROCO:3693' s ROE % Range Over the Past 10 Years
Min: -8.52   Med: 7.2   Max: 37.54
Current: 12.99

During the past 13 years, T-win Systems's highest ROE % was 37.54%. The lowest was -8.52%. And the median was 7.20%.

ROCO:3693's ROE % is ranked better than
78.43% of 2429 companies
in the Hardware industry
Industry Median: 4.67 vs ROCO:3693: 12.99

T-win Systems  (ROCO:3693) ROE % Explanation

ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.

The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:

ROE %(Q: Dec. 2025 )
=Net Income/Total Stockholders Equity
=374.372/5151.36
=(Net Income / Revenue )*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(374.372 / 6455.896)*(6455.896 / 7711.454)*(7711.454 / 5151.36)
=Net Margin %*Asset Turnover*Equity Multiplier
=5.8 %*0.8372*1.497
=ROA %*Equity Multiplier
=4.86 %*1.497
=7.27 %

With this breakdown, it is clear that if a company grows its Net Profit Margin, its Asset Turnover, or its Leverage, it can grow its ROE %.

The factors that affect a company's ROE % can also be illustrated with the five-step DuPont Analysis:

ROE %(Q: Dec. 2025 )
=Net Income/Total Stockholders Equity
=374.372/5151.36
=(Net Income / Pre-Tax Income) * (Pre-Tax Income / Operating Income) * (Operating Income / Revenue) * (Revenue / Total Assets) * (Total Assets / Total Stockholders Equity)
= (374.372 / 378.936) * (378.936 / 19.692) * (19.692 / 6455.896) * (6455.896 / 7711.454) * (7711.454 / 5151.36)
= Tax Burden * Interest Burden * Operating Margin % * Asset Turnover * Equity Multiplier
= 0.988 * 19.2431 * 0.31 % * 0.8372 * 1.497
=7.27 %

Note: The net income data used here is four times the quarterly (Dec. 2025) net income data. The Revenue data used here is four times the quarterly (Dec. 2025) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.

* 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.


Be Aware

Net Income is used.

Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.


T-win Systems ROE % Related Terms


T-win Systems ROE % Historical Data

* Premium members only.

The historical data trend for T-win Systems's ROE % 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.

T-win Systems ROE % Chart

T-win Systems Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.17 23.85 37.54 27.64 12.99

T-win Systems Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
ROE % 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 15.46 27.70 1.03 15.83 7.27

ROCO:3693 vs SNDK, DELL, STX: ROE % Comparison

For the Computer Hardware subindustry, T-win Systems's ROE %, along with its competitors' market caps and ROE % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


T-win Systems ROE % vs Hardware Industry

For the Hardware industry and Technology sector, T-win Systems's ROE % distribution charts can be found below:

* The bar in red indicates where T-win Systems's ROE % falls into.


ROCO:3693
70GF Score
T-win Systems Inc ROCO:3693
ROE % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

T-win Systems ROE % Calculation

T-win Systems's annualized ROE % for the fiscal year that ended in Dec. 2025 is calculated as

ROE %=Net Income (A: Dec. 2025 )/( (Total Stockholders Equity (A: Dec. 2024 )+Total Stockholders Equity (A: Dec. 2025 ))/ count )
=666.179/( (5044.601+5210.869)/ 2 )
=666.179/5127.735
=12.99 %

T-win Systems's annualized ROE % for the quarter that ended in Dec. 2025 is calculated as

ROE %=Net Income (Q: Dec. 2025 )/( (Total Stockholders Equity (Q: Sep. 2025 )+Total Stockholders Equity (Q: Dec. 2025 ))/ count )
=374.372/( (5091.851+5210.869)/ 2 )
=374.372/5151.36
=7.27 %

* 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.

In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Dec. 2025) net income data. ROE % is displayed in the 30-year financial page.

Frequently Asked Questions Learn more about ROE % →
What does a ROE % of 7.27% mean?
T-win Systems (ROCO:3693) has a ROE % of 7.27% as of Dec. 2025. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on T-win Systems and its competitors. This is near median its historical median of 7.20. According to the industry distribution chart, T-win Systems ranks #524 out of 2429 companies in the Hardware industry, placing it in the top 21.6%.
Is T-win Systems' ROE % too high?
T-win Systems' current ROE % of 7.27% is near median its 10-year median of 7.20. The Hardware industry median ROE % is 4.67. T-win Systems' value of 7.27% is 55.7% above this industry median. Based on the distribution chart, T-win Systems ranks #524 out of 2429 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, T-win Systems has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does T-win Systems' ROE % compare to SNDK and DELL?
According to the Hardware industry distribution chart, T-win Systems ranks #524 out of 2429 companies for ROE %. This places T-win Systems in the top 22% of its industry — outperforming the majority of peers. The industry median ROE % is 4.67. T-win Systems' value of 7.27% is 55.7% above this benchmark. While the company's 10-year median is 7.20 vs. the industry median of 4.67, T-win Systems has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for a Hardware company?
The median ROE % among Hardware companies is 4.67, based on 2,429 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. T-win Systems's current ROE % of 7.27% is 55.7% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on T-win Systems and its competitors. For the Hardware industry, the median ROE % is 4.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. T-win Systems's current ROE % is 7.27%, which is near median its own 10-year median of 7.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is T-win Systems stock overvalued right now?
Based on GuruFocus' analysis, T-win Systems (ROCO:3693) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$284.34, compared to a current price of NT$442.00 — trading 55.4% above its estimated fair value. The current ROE % is 7.27%, which is near median its 10-year median of 7.20 and 55.7% above the Hardware industry median of 4.67. T-win Systems' overall GF Score™ is 70/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For T-win Systems (ROCO:3693), the current ROE % is 7.27% 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 T-win Systems (ROCO:3693) Overvalued in 2026?

Based on GuruFocus' analysis, T-win Systems stock appears to be overvalued. The current stock price of NT$442.00 is trading 55.4% above its estimated GF Value™ of NT$284.34. GuruFocus considers T-win Systems to be Significantly Overvalued.

Key valuation signals for ROCO:3693:

  • ROE %: 7.27% (near median its 10-year median of 7.20)
  • GF Value™: NT$284.34 vs. price of NT$442.00 (55.4% above fair value)
  • GF Score™: 70/100 with 2 warning signs
  • Industry Position: 55.7% above the Hardware median (#524 of 2429)

No single metric tells the full story. See the ROCO:3693 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


T-win Systems Business Description

Address Lane 20, Daxing Road, No. 9, Lane 19, Luzhu District, Taoyuan Hsien, TWN
T-win Systems Inc provides OEM/ODM server and storage solutions including in-house design, validation, manufacturing and production, import and export of its expansive selection of products are flexible and can be configured to any form factor or custom configuration.
70GF Score

Get the complete analysis for ROCO:3693

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

NT$442.00
Price
NT$284.34
GF Value