eMemory TechnologyROCO:3529 +0.86%96 Piotroski F-Score is 5 as of Jun. 30, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates ROCO:3529 with a GF Score™ of 96/100 and a GF Value™ of NT$3,027.84 (Fairly Valued). The stock has 2 warning signs investors should review. Among 989 Semiconductors companies, eMemory Technology ranks better than 61.17% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
eMemory Technology has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for eMemory Technology's Piotroski F-Score or its related term are showing as below:
ROCO:3529'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 6 Max: 7
Current: 5
During the past 13 years, the highest Piotroski F-Score of eMemory Technology was 7. The lowest was 5. And the median was 6.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
eMemory Technology Piotroski F-Score Related Terms
eMemory Technology Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for eMemory Technology's Piotroski F-Score 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.
ROCO:3529 vs NVDA, AVGO, MU: Piotroski F-Score Comparison
For the Semiconductors subindustry, eMemory Technology's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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.
eMemory Technology Piotroski F-Score vs Semiconductors Industry
For the Semiconductors industry and Technology sector, eMemory Technology's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where eMemory Technology's Piotroski F-Score falls into.
* 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.
This Year (Dec25) TTM:
Last Year (Dec24) TTM:
Net Income was 461.706 + 399.995 + 487.135 + 563.013 = NT$1,912 Mil. Cash Flow from Operations was 578.453 + 594.766 + 215.77 + 812.749 = NT$2,202 Mil. Revenue was 911.734 + 936.535 + 952.422 + 1048.362 = NT$3,849 Mil. Gross Profit was 911.734 + 936.535 + 952.422 + 1048.362 = NT$3,849 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was
(4458.552 + 4993.145 + 5496.945 + 4067.011 + 4760.57) / 5 = NT$4755.2446 Mil. Total Assets at the begining of this year (Dec24) was NT$4,459 Mil. Long-Term Debt & Capital Lease Obligation was NT$4 Mil. Total Current Assets was NT$3,801 Mil. Total Current Liabilities was NT$880 Mil.
Net Income was 430.577 + 475.096 + 413.969 + 514.608 = NT$1,834 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
eMemory Technology's current Net Income (TTM) was 1,912.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
eMemory Technology's return on assets of this year was 0.42880491. eMemory Technology's return on assets of last year was 0.48813143.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
eMemory Technology's gearing of this year was 0.00086158. eMemory Technology's gearing of last year was 0.00146249.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
eMemory Technology's current ratio of this year was 4.31994995. eMemory Technology's current ratio of last year was 4.22929563.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
eMemory Technology's number of shares in issue this year was 75.2. eMemory Technology's number of shares in issue last year was 74.828.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
eMemory Technology's gross margin of this year was 1. eMemory Technology's gross margin of last year was 1.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
eMemory Technology's asset turnover of this year was 0.86329665. eMemory Technology's asset turnover of last year was 0.95962181.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
eMemory Technology has an F-score of 5 indicating the company's financial situation is typical for a stable company.
eMemory Technology (ROCO:3529) has a Piotroski F-Score of 5 as of Jun. 30, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on eMemory Technology and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, eMemory Technology's Piotroski F-Score has ranged from 5.00 to 7.00. According to the industry distribution chart, eMemory Technology ranks #384 out of 989 companies in the Semiconductors industry, placing it in the top 38.8%.
Is eMemory Technology's Piotroski F-Score too high?
eMemory Technology's current Piotroski F-Score of 5 is 17% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 7.00. The Semiconductors industry median Piotroski F-Score is 5.00. eMemory Technology's value of 5 is 0% at this industry median. Based on the distribution chart, eMemory Technology ranks #384 out of 989 companies in the Semiconductors industry, which is above the industry midpoint. Overall, eMemory Technology has a GF Score™ of 96/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does eMemory Technology's Piotroski F-Score compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, eMemory Technology ranks #384 out of 989 companies for Piotroski F-Score. This puts eMemory Technology in the upper half of its industry. The industry median Piotroski F-Score is 5.00. eMemory Technology's value of 5 is 0% at this benchmark. Historically, eMemory Technology's own Piotroski F-Score has ranged from 5.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, eMemory Technology has consistently been at 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 Piotroski F-Score for a Semiconductors company?
The median Piotroski F-Score among Semiconductors companies is 5.00, based on 989 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. eMemory Technology's current Piotroski F-Score of 5 is 0% at 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 Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on eMemory Technology and its competitors. For the Semiconductors industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. eMemory Technology's current Piotroski F-Score is 5, which is 17% below median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is eMemory Technology stock overvalued right now?
Based on GuruFocus' analysis, eMemory Technology (ROCO:3529) is currently considered Fairly Valued. The stock's GF Value™ is NT$3,027.84, compared to a current price of NT$2,925.00 — trading 3.4% below its estimated fair value. The current Piotroski F-Score is 5, which is 17% below median its 10-year median of 6.00 and 0% at the Semiconductors industry median of 5.00. eMemory Technology's overall GF Score™ is 96/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For eMemory Technology (ROCO:3529), the current Piotroski F-Score is 5 as of Jun. 30, 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 eMemory Technology (ROCO:3529) Overvalued in 2026?
Based on GuruFocus' analysis, eMemory Technology stock appears to be undervalued.
The current stock price of NT$2,925.00 is trading 3.4% below its estimated GF Value™ of NT$3,027.84.
GuruFocus considers eMemory Technology to be Fairly Valued.
Key valuation signals for ROCO:3529:
Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
GF Value™: NT$3,027.84 vs. price of NT$2,925.00 (3.4% below fair value)
Industry Position: 0% at the Semiconductors median (#384 of 989)
No single metric tells the full story. See the ROCO:3529 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
eMemory Technology Inc is engaged in researching, developing, manufacturing, and selling embedded flash memory products. It licenses its intellectual property (IP) to semiconductor foundries, integrated device manufacturers, and design houses. The company offers comprehensive platforms of Logic NVM silicon IP, including NeoBit, NeoFuse, NeoEE, NeoMTP, EcoBit, NeoFlash, RRAM, MRAM, and NeoPUF; as well as a range of cost-effective and customized logic NVM solutions. It earns revenue in the form of royalties and income generated from the provision of technical services, out of which the majority comes from royalties. Geographically, the company generates maximum revenue from its domestic market, followed by Asia and other regions.
96GF Score
Get the complete analysis for ROCO:3529
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