The transition from linear economy to circular economy (CE) has gained mainstream status in recent times, not only at product and process levels, but also at component level. In order to adopt the CE as common practice, there is a need to reimagine the product end-of-life (EoL) phase to include assessment of individual component health status. Implementation of EoL strategies on products designed based on wear and tear, robustness, and safety concerns is, however, complex. The purpose of this study is to explore the potential of designing for CE by applying a visual health-based analysis (VHA) at the component level at the EoL stage. The application of this diagnostic tool is exemplified in a case at a large Swedish outdoor power product manufacturer by analyzing components for reuse, remanufacture, refurbishment, recycling, and recovery strategies. The VHA results in the calculation of a CE potential at the component-product level based on individual component's cost, complexity, health, and diagnostic approach. This study presents a diagnostic tool for practitioners to understand circularity at the component-level in the effort to identify EoL strategies. Furthermore, in supporting the CE principle of maximizing resource recovery, the study potentially contributes to the EU's CE action plan and the UN-SDGs 8, 9, 12, and 13.