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.
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.
Tecom CoTPE:2321 58 3-Year ROIIC % is 2.58 as of Dec. 2025, which is 63% below its 10-year median of 6.88. GuruFocus rates TPE:2321 with a GF Score™ of 58/100 and a GF Value™ of NT$12.85 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 2,368 Hardware companies, Tecom Co ranks better than 50.38% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Tecom Co's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 2.58%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Tecom Co's 3-Year ROIIC % or its related term are showing as below:
TPE:2321's 3-Year ROIIC % is ranked better than 50.38% of 2368
companies
in the Hardware industry
Industry Median: 2.345
vs TPE:2321: 2.58
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Tecom Co 3-Year ROIIC % Related Terms
Tecom Co 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Tecom Co's 3-Year ROIIC % 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.
TPE:2321 vs CSCO, MSI, HPE: 3-Year ROIIC % Comparison
For the Communication Equipment subindustry, Tecom Co's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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.
Tecom Co 3-Year ROIIC % vs Hardware Industry
For the Hardware industry and Technology sector, Tecom Co's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Tecom Co's 3-Year ROIIC % falls into.
Tecom Co's 3-Year ROIIC % for the quarter that ended in Dec. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( -5.652 (Dec. 2025) - 16.3424532 (Dec. 2022) )
/
( 825.785 (Dec. 2025) - 1676.747 (Dec. 2022) )
=
-21.9944532
/
-850.962
=
2.58%***
* 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Tecom Co (TPE:2321) has a 3-Year ROIIC % of 2.58 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Tecom Co and its competitors. This is 63% below median its historical median of 6.88. According to the industry distribution chart, Tecom Co ranks #1175 out of 2368 companies in the Hardware industry, placing it in the top 49.6%.
Is Tecom Co's 3-Year ROIIC % too high?
Tecom Co's current 3-Year ROIIC % of 2.58 is 63% below median its 10-year median of 6.88. The Hardware industry median 3-Year ROIIC % is 2.35. Tecom Co's value of 2.58 is 10% above this industry median. Based on the distribution chart, Tecom Co ranks #1175 out of 2368 companies in the Hardware industry, which is above the industry midpoint. Overall, Tecom Co has a GF Score™ of 58/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tecom Co's 3-Year ROIIC % compare to CSCO and MSI?
According to the Hardware industry distribution chart, Tecom Co ranks #1175 out of 2368 companies for 3-Year ROIIC %. This puts Tecom Co in the upper half of its industry. The industry median 3-Year ROIIC % is 2.35. Tecom Co's value of 2.58 is 10% above this benchmark. While the company's 10-year median is 6.88 vs. the industry median of 2.35, Tecom 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 3-Year ROIIC % for a Hardware company?
The median 3-Year ROIIC % among Hardware companies is 2.35, based on 2,368 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Tecom Co's current 3-Year ROIIC % of 2.58 is 10% 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Tecom Co and its competitors. For the Hardware industry, the median 3-Year ROIIC % is 2.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tecom Co's current 3-Year ROIIC % is 2.58, which is 63% below median its own 10-year median of 6.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tecom Co stock overvalued right now?
Based on GuruFocus' analysis, Tecom Co (TPE:2321) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$12.85, compared to a current price of NT$15.00 — trading 16.7% above its estimated fair value. The current 3-Year ROIIC % is 2.58, which is 63% below median its 10-year median of 6.88 and 10% above the Hardware industry median of 2.35. Tecom Co's overall GF Score™ is 58/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Tecom Co (TPE:2321), the current 3-Year ROIIC % is 2.58 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 Tecom Co (TPE:2321) Overvalued in 2026?
Based on GuruFocus' analysis, Tecom Co stock appears to be overvalued.
The current stock price of NT$15.00 is trading 16.7% above its estimated GF Value™ of NT$12.85.
GuruFocus considers Tecom Co to be Modestly Overvalued.
Key valuation signals for TPE:2321:
3-Year ROIIC %: 2.58 (63% below median its 10-year median of 6.88)
GF Value™: NT$12.85 vs. price of NT$15.00 (16.7% above fair value)
Industry Position: 10% above the Hardware median (#1175 of 2368)
No single metric tells the full story. See the TPE:2321 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tecom Co Ltd is a Taiwan-based telecommunications equipment maker. The company specializes in providing communication convergence solutions for enterprise, carrier, and consumer markets. Its product portfolio includes smartphone business systems, business phone systems, carriers, smart home systems, smart video doorbells, vibration diagnoses, and (internet protocol) IP phones. The Group mainly derives it's revenue from business communication systems, smart electromechanics, and fiber optic cables. The company integrates voice communication, network communication, wireless communication, optical communication and mobile communication services. It operates in USA, Taiwan and Other countries.
58GF Score
Get the complete analysis for TPE:2321
3-Year ROIIC % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TPE:2321 has been successfully added to your 
