Tecom Co (TPE:2321) Scaled Net Operating Assets: 0.54 (As of Dec. 2025)


TPE:2321 Tecom Co Ltd TPE:2321
61 GF Score
Price NT$13.85
GF Value NT$15.87
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Tecom Co Scaled Net Operating Assets?

Tecom Co TPE:2321 61 Scaled Net Operating Assets is 0.54 as of Dec. 2025. GuruFocus rates TPE:2321 with a GF Score™ of 61/100 and a GF Value™ of NT$15.87 (Modestly Undervalued). The stock has 3 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Tecom Co's operating assets for the quarter that ended in Dec. 2025 was NT$881.0 Mil. Tecom Co's operating liabilities for the quarter that ended in Dec. 2025 was NT$207.3 Mil. Tecom Co's Total Assets for the quarter that ended in Sep. 2025 was NT$1,252.3 Mil. Therefore, Tecom Co's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.54.

Tecom Co Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Tecom Co's Scaled Net Operating Assets 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.

Tecom Co Scaled Net Operating Assets Chart

Tecom Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.55 0.50 0.40 0.49 0.52

Tecom Co Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
Scaled Net Operating Assets 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 0.52 0.53 0.57 0.53 0.54

TPE:2321 vs CSCO, CIEN, MSI: Scaled Net Operating Assets Comparison

For the Communication Equipment subindustry, Tecom Co's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs Hardware Industry

For the Hardware industry and Technology sector, Tecom Co's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Tecom Co's Scaled Net Operating Assets falls into.


TPE:2321
61GF Score
Tecom Co Ltd TPE:2321
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Tecom Co Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Tecom Co's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(881.016-207.348)/1292.836
=0.52

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1225.873 - 344.857
=881.016

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=781.714 - 355.183 - 219.183
=207.348

Tecom Co's Scaled Net Operating Assets (SNOA) for the quarter that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Dec. 2025 )
=(Operating Assets (Q: Dec. 2025 )-Operating Liabilities (Q: Dec. 2025 ))/Total Assets (Q: Sep. 2025 )
=(881.016-207.348)/1252.289
=0.54

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1225.873 - 344.857
=881.016

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=781.714 - 355.183 - 219.183
=207.348

* 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.

What does a Scaled Net Operating Assets of 0.54 mean?
Tecom Co (TPE:2321) has a Scaled Net Operating Assets of 0.54 as of Dec. 2025. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Tecom Co and its competitors.
Is Tecom Co's Scaled Net Operating Assets too high?
Tecom Co's current Scaled Net Operating Assets is 0.54. Overall, Tecom Co has a GF Score™ of 61/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tecom Co's Scaled Net Operating Assets compare to CSCO and CIEN?
Tecom Co's Scaled Net Operating Assets of 0.54 can be compared against companies in the Hardware industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Hardware company?
A good Scaled Net Operating Assets depends on the Hardware industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Tecom Co and its competitors. Tecom Co's current Scaled Net Operating Assets is 0.54. 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 Undervalued. The stock's GF Value™ is NT$15.87, compared to a current price of NT$13.85 — trading 12.7% below its estimated fair value. The current Scaled Net Operating Assets is 0.54. Tecom Co's overall GF Score™ is 61/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Tecom Co (TPE:2321), the current Scaled Net Operating Assets is 0.54 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 undervalued. The current stock price of NT$13.85 is trading 12.7% below its estimated GF Value™ of NT$15.87. GuruFocus considers Tecom Co to be Modestly Undervalued.

Key valuation signals for TPE:2321:

  • Scaled Net Operating Assets: 0.54
  • GF Value™: NT$15.87 vs. price of NT$13.85 (12.7% below fair value)
  • GF Score™: 61/100 with 3 warning signs

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 Business Description

Address No. 23, Research and Development 2nd Road, Science Park, Hsinchu City, TWN, 300
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.
61GF Score

Get the complete analysis for TPE:2321

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

NT$13.85
Price
NT$15.87
GF Value