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ASE Technology Holding CoASX -2.78%73 Earnings Yield (Joel Greenblatt) % is 4.21% as of Mar. 2026, which is 43% below its 10-year median of 7.41. GuruFocus rates ASX with a GF Score™ of 73/100 and a GF Value™ of $12.11 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,024 Semiconductors companies, ASE Technology Holding Co ranks better than 62.4% on this metric.
ASE Technology Holding Co's Enterprise Value for the quarter that ended in Mar. 2026 was $52,979 Mil.
ASE Technology Holding Co's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was $2,193 Mil. ASE Technology Holding Co's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2026 was 4.21%.
The historical rank and industry rank for ASE Technology Holding Co's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
ASX'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.1 Med: 7.41 Max: 20.29
Current: 2.37
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of ASE Technology Holding Co was 20.29%. The lowest was 2.10%. And the median was 7.41%.
ASX's Earnings Yield (Joel Greenblatt) % is ranked better than 62.4% of 1024
companies
in the Semiconductors industry
Industry Median: 1.27
vs ASX: 2.37
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. ASE Technology Holding Co's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2026 was 0.03%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
ASE Technology Holding Co (NYSE:ASX) Earnings Yield (Joel Greenblatt) % Explanation
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
ASE Technology Holding Co Earnings Yield (Joel Greenblatt) % Related Terms
ASE Technology Holding Co Earnings Yield (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for ASE Technology Holding Co's Earnings Yield (Joel Greenblatt) % 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.
ASE Technology Holding Co Earnings Yield (Joel Greenblatt) % Chart
For the Semiconductors subindustry, ASE Technology Holding Co's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % 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.
ASE Technology Holding Co Earnings Yield (Joel Greenblatt) % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, ASE Technology Holding Co's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where ASE Technology Holding Co's Earnings Yield (Joel Greenblatt) % falls into.
ASE Technology Holding Co Earnings Yield (Joel Greenblatt) % Calculation
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
ASE Technology Holding Cos Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
ASE Technology Holding Co's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,193 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 4.21% mean?
ASE Technology Holding Co (ASX) has a Earnings Yield (Joel Greenblatt) % of 4.21% as of Mar. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on ASE Technology Holding Co and its competitors. This is 43% below median its historical median of 7.41. Over the past decade, ASE Technology Holding Co's Earnings Yield (Joel Greenblatt) % has ranged from 2.10 to 20.29. According to the industry distribution chart, ASE Technology Holding Co ranks #385 out of 1024 companies in the Semiconductors industry, placing it in the top 37.6%.
Is ASE Technology Holding Co's Earnings Yield (Joel Greenblatt) % too high?
ASE Technology Holding Co's current Earnings Yield (Joel Greenblatt) % of 4.21% is 43% below median its 10-year median of 7.41. Over the past 10 years, this metric has ranged from a low of 2.10 to a high of 20.29. The Semiconductors industry median Earnings Yield (Joel Greenblatt) % is 1.27. ASE Technology Holding Co's value of 4.21% is 231.5% above this industry median. Based on the distribution chart, ASE Technology Holding Co ranks #385 out of 1024 companies in the Semiconductors industry, which is above the industry midpoint. Overall, ASE Technology Holding Co has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ASE Technology Holding Co's Earnings Yield (Joel Greenblatt) % compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, ASE Technology Holding Co ranks #385 out of 1024 companies for Earnings Yield (Joel Greenblatt) %. This puts ASE Technology Holding Co in the upper half of its industry. The industry median Earnings Yield (Joel Greenblatt) % is 1.27. ASE Technology Holding Co's value of 4.21% is 231.5% above this benchmark. Historically, ASE Technology Holding Co's own Earnings Yield (Joel Greenblatt) % has ranged from 2.10 to 20.29 over the past decade. While the company's 10-year median is 7.41 vs. the industry median of 1.27, ASE Technology Holding 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 Earnings Yield (Joel Greenblatt) % for a Semiconductors company?
The median Earnings Yield (Joel Greenblatt) % among Semiconductors companies is 1.27, based on 1,024 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ASE Technology Holding Co's current Earnings Yield (Joel Greenblatt) % of 4.21% is 231.5% 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 Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on ASE Technology Holding Co and its competitors. For the Semiconductors industry, the median Earnings Yield (Joel Greenblatt) % is 1.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ASE Technology Holding Co's current Earnings Yield (Joel Greenblatt) % is 4.21%, which is 43% below median its own 10-year median of 7.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ASE Technology Holding Co stock overvalued right now?
Based on GuruFocus' analysis, ASE Technology Holding Co (ASX) is currently considered Significantly Overvalued. The stock's GF Value™ is $12.11, compared to a current price of $38.41 — trading 217.2% above its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 4.21%, which is 43% below median its 10-year median of 7.41 and 231.5% above the Semiconductors industry median of 1.27. ASE Technology Holding Co's overall GF Score™ is 73/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For ASE Technology Holding Co (ASX), the current Earnings Yield (Joel Greenblatt) % is 4.21% as of Mar. 2026. 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 ASE Technology Holding Co (ASX) Overvalued in 2026?
Based on GuruFocus' analysis, ASE Technology Holding Co stock appears to be overvalued.
The current stock price of $38.41 is trading 217.2% above its estimated GF Value™ of $12.11.
GuruFocus considers ASE Technology Holding Co to be Significantly Overvalued.
Key valuation signals for ASX:
Earnings Yield (Joel Greenblatt) %: 4.21% (43% below median its 10-year median of 7.41)
GF Value™: $12.11 vs. price of $38.41 (217.2% above fair value)
Industry Position: 231.5% above the Semiconductors median (#385 of 1024)
No single metric tells the full story. See the ASX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ASE Technology Holding Co Ltd is a semiconductor assembly and testing firm. The company operates in segments: Packaging, Testing, Electronic Manufacturing Services and others. Of these, Packaging segment contribute the maximum revenue. The packaging segment involves packaging bare semiconductors into completed semiconductors with improved electrical and thermal characteristics. The Testing Segment includes front-end engineering testing, wafer probing, and final testing services. In the EMS segment, the company designs manufactures, and sells electronic components and telecommunication equipment motherboards. The company is based in Taiwan but generates over half its sales from firms in the United States.
73GF Score
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