Good Will Instrument CoTPE:2423 -6.01%75 ROE % is 18.74% as of Dec. 2025, which is 42% above its 10-year median of 13.18. GuruFocus rates TPE:2423 with a GF Score™ of 75/100 and a GF Value™ of NT$41.45 (Significantly Overvalued). Among 2,426 Hardware companies, Good Will Instrument Co ranks better than 83.43% on this metric.
The historical rank and industry rank for Good Will Instrument Co's ROE % or its related term are showing as below:
TPE:2423'
s ROE % Range Over the Past 10 Years
Min: 8.53 Med: 13.18 Max: 15.94
Current: 15.31
During the past 13 years, Good Will Instrument Co's highest ROE % was 15.94%. The lowest was 8.53%. And the median was 13.18%.
TPE:2423's ROE % is ranked better than 83.43% of 2426
companies
in the Hardware industry
Industry Median: 4.59
vs TPE:2423: 15.31
Good Will Instrument Co (TPE:2423) 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:
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.
* 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.
For the Scientific & Technical Instruments subindustry, Good Will Instrument 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.
Good Will Instrument Co ROE % vs Hardware Industry
For the Hardware industry and Technology sector, Good Will Instrument Co's ROE % distribution charts can be found below:
* The bar in red indicates where Good Will Instrument Co's ROE % falls into.
* 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.
Good Will Instrument Co (TPE:2423) has a ROE % of 18.74% 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 Good Will Instrument Co and its competitors. This is 42% above median its historical median of 13.18. Over the past decade, Good Will Instrument Co's ROE % has ranged from 8.53 to 15.94. According to the industry distribution chart, Good Will Instrument Co ranks #402 out of 2426 companies in the Hardware industry, placing it in the top 16.6%.
Is Good Will Instrument Co's ROE % too high?
Good Will Instrument Co's current ROE % of 18.74% is 42% above median its 10-year median of 13.18. Over the past 10 years, this metric has ranged from a low of 8.53 to a high of 15.94. The Hardware industry median ROE % is 4.59. Good Will Instrument Co's value of 18.74% is 308.3% above this industry median. Based on the distribution chart, Good Will Instrument Co ranks #402 out of 2426 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. 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 ROE % compare to COHR and KEYS?
According to the Hardware industry distribution chart, Good Will Instrument Co ranks #402 out of 2426 companies for ROE %. This places Good Will Instrument Co in the top 17% of its industry — outperforming the majority of peers. The industry median ROE % is 4.59. Good Will Instrument Co's value of 18.74% is 308.3% above this benchmark. Historically, Good Will Instrument Co's own ROE % has ranged from 8.53 to 15.94 over the past decade. While the company's 10-year median is 13.18 vs. the industry median of 4.59, Good Will Instrument Co 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 4.59, based on 2,426 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. Good Will Instrument Co's current ROE % of 18.74% is 308.3% 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 Good Will Instrument Co and its competitors. For the Hardware industry, the median ROE % is 4.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Good Will Instrument Co's current ROE % is 18.74%, which is 42% above median its own 10-year median of 13.18. 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 ROE % is 18.74%, which is 42% above median its 10-year median of 13.18 and 308.3% above the Hardware industry median of 4.59. 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 ROE % calculated?
ROE % is calculated from a company's financial statements. For Good Will Instrument Co (TPE:2423), the current ROE % is 18.74% 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:
ROE %: 18.74% (42% above median its 10-year median of 13.18)
GF Value™: NT$41.45 vs. price of NT$73.50 (77.3% above fair value)
Industry Position: 308.3% above the Hardware median (#402 of 2426)
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 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
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