Forward Graphic Enterprise Co (ROCO:8906) ROE %: -8.01% (As of Dec. 2025)


ROCO:8906 Forward Graphic Enterprise Co Ltd ROCO:8906
39 GF Score
Price NT$28.55
GF Value NT$25.55
Valuation Modestly Overvalued
! 7 Warning Signs
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What is Forward Graphic Enterprise Co ROE %?

Forward Graphic Enterprise Co ROCO:8906 39 ROE % is -8.01% as of Dec. 2025. GuruFocus rates ROCO:8906 with a GF Score™ of 39/100 and a GF Value™ of NT$25.55 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 1,058 Business Services companies, Forward Graphic Enterprise Co ranks worse than 82.89% on this metric.

ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Forward Graphic Enterprise Co's annualized net income for the quarter that ended in Dec. 2025 was NT$-37.5 Mil. Forward Graphic Enterprise Co's average Total Stockholders Equity over the quarter that ended in Dec. 2025 was NT$467.6 Mil. Therefore, Forward Graphic Enterprise Co's annualized ROE % for the quarter that ended in Dec. 2025 was -8.01%.

The historical rank and industry rank for Forward Graphic Enterprise Co's ROE % or its related term are showing as below:

ROCO:8906' s ROE % Range Over the Past 10 Years
Min: -7.13   Med: -1.67   Max: 2.84
Current: -7.02

During the past 13 years, Forward Graphic Enterprise Co's highest ROE % was 2.84%. The lowest was -7.13%. And the median was -1.67%.

ROCO:8906's ROE % is ranked worse than
82.89% of 1058 companies
in the Business Services industry
Industry Median: 8.1 vs ROCO:8906: -7.02

Forward Graphic Enterprise Co  (ROCO:8906) 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
=-37.468/467.6495
=(Net Income / Revenue )*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(-37.468 / 203.028)*(203.028 / 2835.806)*(2835.806 / 467.6495)
=Net Margin %*Asset Turnover*Equity Multiplier
=-18.45 %*0.0716*6.064
=ROA %*Equity Multiplier
=-1.32 %*6.064
=-8.01 %

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
=-37.468/467.6495
=(Net Income / Pre-Tax Income) * (Pre-Tax Income / Operating Income) * (Operating Income / Revenue) * (Revenue / Total Assets) * (Total Assets / Total Stockholders Equity)
= (-37.468 / -37.468) * (-37.468 / -26.696) * (-26.696 / 203.028) * (203.028 / 2835.806) * (2835.806 / 467.6495)
= Tax Burden * Interest Burden * Operating Margin % * Asset Turnover * Equity Multiplier
= 1 * 1.4035 * -13.15 % * 0.0716 * 6.064
=-8.01 %

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.


Forward Graphic Enterprise Co ROE % Related Terms


Forward Graphic Enterprise Co ROE % Historical Data

* Premium members only.

The historical data trend for Forward Graphic Enterprise Co'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.

Forward Graphic Enterprise Co ROE % Chart

Forward Graphic Enterprise Co 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 0.88 -1.38 -7.13 -1.97 -6.95

Forward Graphic Enterprise Co 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 -3.75 -9.56 -4.34 -6.24 -8.01

ROCO:8906 vs CTAS, CPRT, ULS: ROE % Comparison

For the Specialty Business Services subindustry, Forward Graphic Enterprise Co'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.


Forward Graphic Enterprise Co ROE % vs Business Services Industry

For the Business Services industry and Industrials sector, Forward Graphic Enterprise Co's ROE % distribution charts can be found below:

* The bar in red indicates where Forward Graphic Enterprise Co's ROE % falls into.


ROCO:8906
39GF Score
Forward Graphic Enterprise Co Ltd ROCO:8906
ROE % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Forward Graphic Enterprise Co ROE % Calculation

Forward Graphic Enterprise Co'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 )
=-32.758/( (470.771+471.468)/ 2 )
=-32.758/471.1195
=-6.95 %

Forward Graphic Enterprise Co'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 )
=-37.468/( (463.831+471.468)/ 2 )
=-37.468/467.6495
=-8.01 %

* 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 -8.01% mean?
Forward Graphic Enterprise Co (ROCO:8906) has a ROE % of -8.01% 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 Forward Graphic Enterprise Co and its competitors. According to the industry distribution chart, Forward Graphic Enterprise Co ranks #877 out of 1058 companies in the Business Services industry, placing it in the top 82.9%.
Is Forward Graphic Enterprise Co's ROE % too high?
Forward Graphic Enterprise Co's current ROE % is -8.01%. Based on the distribution chart, Forward Graphic Enterprise Co ranks #877 out of 1058 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, Forward Graphic Enterprise Co has a GF Score™ of 39/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Forward Graphic Enterprise Co's ROE % compare to CTAS and CPRT?
According to the Business Services industry distribution chart, Forward Graphic Enterprise Co ranks #877 out of 1058 companies for ROE %. This places Forward Graphic Enterprise Co in the lower half of its industry. The industry median ROE % is 8.10. 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 Business Services company?
The median ROE % among Business Services companies is 8.10, based on 1,058 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. 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 Forward Graphic Enterprise Co and its competitors. For the Business Services industry, the median ROE % is 8.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forward Graphic Enterprise Co's current ROE % is -8.01%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forward Graphic Enterprise Co stock overvalued right now?
Based on GuruFocus' analysis, Forward Graphic Enterprise Co (ROCO:8906) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$25.55, compared to a current price of NT$28.55 — trading 11.7% above its estimated fair value. The current ROE % is -8.01%. Forward Graphic Enterprise Co's overall GF Score™ is 39/100 with 7 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 Forward Graphic Enterprise Co (ROCO:8906), the current ROE % is -8.01% 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 Forward Graphic Enterprise Co (ROCO:8906) Overvalued in 2026?

Based on GuruFocus' analysis, Forward Graphic Enterprise Co stock appears to be overvalued. The current stock price of NT$28.55 is trading 11.7% above its estimated GF Value™ of NT$25.55. GuruFocus considers Forward Graphic Enterprise Co to be Modestly Overvalued.

Key valuation signals for ROCO:8906:

  • ROE %: -8.01%
  • GF Value™: NT$25.55 vs. price of NT$28.55 (11.7% above fair value)
  • GF Score™: 39/100 with 7 warning signs

No single metric tells the full story. See the ROCO:8906 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Forward Graphic Enterprise Co Business Description

Address No.65 Zhongshan Road, Tucheng District, New Taipei City, TWN
Forward Graphic Enterprise Co Ltd is engaged in manufacturing, processing, and distribution of printing products. Its products include packages, Books, Notebook, a Catalogue, Calendar, DIY Products and ECO-Friendly cultural printings, ultraviolet printings and special printings.
39GF Score

Get the complete analysis for ROCO:8906

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

NT$28.55
Price
NT$25.55
GF Value