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Test Research Overview
About Test Research
Test Research Inc designs testing equipment for industrial applications. The firm focuses on designing, assembling, manufacturing, sales, repairing, and maintaining automated inspection and testing equipment. The firm receives a majority of its revenue from Asia and the rest from America, Europe, and other regions.
Founded
1989
HQ
Employees
632
Website
Financials (FY)
EV
$1B
Test Research Financials
Test Research reported last fiscal year revenue of $265M and EBITDA of $100M.
In the same fiscal year, Test Research generated $155M in gross profit, $100M in EBITDA, and $78M in net income.
Test Research P&L
In the most recent fiscal year, Test Research reported revenue of $265M and EBITDA of $100M.
Test Research expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | — | XXX | $265M | XXX | XXX | XXX |
| Gross Profit | — | XXX | $155M | XXX | XXX | XXX |
| Gross Margin | — | XXX | 58% | XXX | XXX | XXX |
| EBITDA | — | XXX | $100M | XXX | XXX | XXX |
| EBITDA Margin | — | XXX | 38% | XXX | XXX | XXX |
| EBIT Margin | — | XXX | 35% | XXX | XXX | XXX |
| Net Profit | — | XXX | $78M | XXX | XXX | XXX |
| Net Margin | — | XXX | 29% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Test Research Stock Performance
Test Research has current market cap of $1B, and enterprise value of $1B.
Market Cap Evolution
Test Research's stock price is $5.79.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $1B | $1B | 0.0% | XXX | XXX | XXX | $0.33 |
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Start Free TrialTest Research Valuation Multiples
Test Research trades at 5.1x EV/Revenue multiple, and 13.4x EV/EBITDA.
Test Research Financial Valuation Multiples
As of April 6, 2026, Test Research has market cap of $1B and EV of $1B.
Equity research analysts estimate Test Research's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Test Research has a P/E ratio of 17.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $1B | XXX | $1B | XXX | XXX | XXX |
| EV (current) | $1B | XXX | $1B | XXX | XXX | XXX |
| EV/Revenue | — | XXX | 5.1x | XXX | XXX | XXX |
| EV/EBITDA | — | XXX | 13.4x | XXX | XXX | XXX |
| EV/EBIT | — | XXX | 14.3x | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 8.7x | XXX | XXX | XXX |
| P/E | — | XXX | 17.6x | XXX | XXX | XXX |
| EV/FCF | — | XXX | 30.0x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Test Research Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Test Research Margins & Growth Rates
Test Research's revenue in the last fiscal year grew by 33%.
Test Research's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.1M for the same period.
Test Research Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | — | XXX | 33% | XXX | XXX | XXX |
| EBITDA Margin | — | XXX | 38% | XXX | XXX | XXX |
| EBITDA Growth | — | XXX | 35% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 13% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 3% | XXX | XXX | XXX |
| R&D Expenses to Revenue | — | XXX | 8% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 23% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Test Research Public Comps
See public comps and valuation multiples for other Electrical Parts & Equipment and Test & Measurement comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Norbit | XXX | XXX | XXX | XXX | XXX | XXX |
| Amprius | XXX | XXX | XXX | XXX | XXX | XXX |
| Energizer | XXX | XXX | XXX | XXX | XXX | XXX |
| Cembre | XXX | XXX | XXX | XXX | XXX | XXX |
| SK Ie Technology | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Test Research M&A Activity
Test Research acquired XXX companies to date.
Last acquisition by Test Research was on XXXXXXXX, XXXXX. Test Research acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Test Research
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialTest Research Investment Activity
Test Research invested in XXX companies to date.
Test Research made its latest investment on XXXXXXXX, XXXXX. Test Research invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Test Research
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Test Research
| When was Test Research founded? | Test Research was founded in 1989. |
| Where is Test Research headquartered? | Test Research is headquartered in Taiwan. |
| How many employees does Test Research have? | As of today, Test Research has over 632 employees. |
| Is Test Research publicly listed? | Yes, Test Research is a public company listed on Taiwan Stock Exchange. |
| What is the stock symbol of Test Research? | Test Research trades under 3030 ticker. |
| When did Test Research go public? | Test Research went public in 2002. |
| Who are competitors of Test Research? | Test Research main competitors are Norbit, Amprius, Energizer, Cembre. |
| What is the current market cap of Test Research? | Test Research's current market cap is $1B. |
| What is the current revenue of Test Research? | Test Research's last fiscal year revenue is $265M. |
| What is the current EV/Revenue multiple of Test Research? | Current revenue multiple of Test Research is 5.1x. |
| Is Test Research profitable? | No, Test Research is not profitable. |
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