ASE Technology Holding CoMEX:ASEH N 56 ROC (Joel Greenblatt) % is 17.76% as of Mar. 2026, which is 6% above its 10-year median of 16.80. GuruFocus rates MEX:ASEH N with a GF Score™ of 56/100 and a GF Value™ of MXN78.71 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 1,025 Semiconductors companies, ASE Technology Holding Co ranks better than 61.56% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. ASE Technology Holding Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 17.76%.
The historical rank and industry rank for ASE Technology Holding Co's ROC (Joel Greenblatt) % or its related term are showing as below:
MEX:ASEH N'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 10.98 Med: 16.8 Max: 30.48
Current: 16.46
During the past 13 years, ASE Technology Holding Co's highest ROC (Joel Greenblatt) % was 30.48%. The lowest was 10.98%. And the median was 16.80%.
MEX:ASEH N's ROC (Joel Greenblatt) % is ranked better than 61.56% of 1025
companies
in the Semiconductors industry
Industry Median: 8.35
vs MEX:ASEH N: 16.46
ASE Technology Holding Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -6.50% per year.
ASE Technology Holding Co (MEX:ASEH N) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
ASE Technology Holding Co ROC (Joel Greenblatt) % Related Terms
ASE Technology Holding Co ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for ASE Technology Holding Co's ROC (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 ROC (Joel Greenblatt) % Chart
MEX:ASEH N vs NVDA, AVGO, MU: ROC (Joel Greenblatt) % Comparison
For the Semiconductors subindustry, ASE Technology Holding Co's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (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 ROC (Joel Greenblatt) % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, ASE Technology Holding Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where ASE Technology Holding Co's ROC (Joel Greenblatt) % falls into.
ASE Technology Holding Co ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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 ROC (Joel Greenblatt) % of 17.76% mean?
ASE Technology Holding Co (MEX:ASEH N) has a ROC (Joel Greenblatt) % of 17.76% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on ASE Technology Holding Co and its competitors. This is near median its historical median of 16.80. Over the past decade, ASE Technology Holding Co's ROC (Joel Greenblatt) % has ranged from 10.98 to 30.48. According to the industry distribution chart, ASE Technology Holding Co ranks #394 out of 1025 companies in the Semiconductors industry, placing it in the top 38.4%.
Is ASE Technology Holding Co's ROC (Joel Greenblatt) % too high?
ASE Technology Holding Co's current ROC (Joel Greenblatt) % of 17.76% is near median its 10-year median of 16.80. Over the past 10 years, this metric has ranged from a low of 10.98 to a high of 30.48. The Semiconductors industry median ROC (Joel Greenblatt) % is 8.35. ASE Technology Holding Co's value of 17.76% is 112.7% above this industry median. Based on the distribution chart, ASE Technology Holding Co ranks #394 out of 1025 companies in the Semiconductors industry, which is above the industry midpoint. Overall, ASE Technology Holding Co has a GF Score™ of 56/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ASE Technology Holding Co's ROC (Joel Greenblatt) % compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, ASE Technology Holding Co ranks #394 out of 1025 companies for ROC (Joel Greenblatt) %. This puts ASE Technology Holding Co in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 8.35. ASE Technology Holding Co's value of 17.76% is 112.7% above this benchmark. Historically, ASE Technology Holding Co's own ROC (Joel Greenblatt) % has ranged from 10.98 to 30.48 over the past decade. While the company's 10-year median is 16.80 vs. the industry median of 8.35, 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 ROC (Joel Greenblatt) % for a Semiconductors company?
The median ROC (Joel Greenblatt) % among Semiconductors companies is 8.35, based on 1,025 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (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 ROC (Joel Greenblatt) % of 17.76% is 112.7% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on ASE Technology Holding Co and its competitors. For the Semiconductors industry, the median ROC (Joel Greenblatt) % is 8.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ASE Technology Holding Co's current ROC (Joel Greenblatt) % is 17.76%, which is near median its own 10-year median of 16.80. 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 (MEX:ASEH N) is currently considered Significantly Overvalued. The stock's GF Value™ is MXN78.71, compared to a current price of MXN699.00 — trading 788.1% above its estimated fair value. The current ROC (Joel Greenblatt) % is 17.76%, which is near median its 10-year median of 16.80 and 112.7% above the Semiconductors industry median of 8.35. ASE Technology Holding Co's overall GF Score™ is 56/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For ASE Technology Holding Co (MEX:ASEH N), the current ROC (Joel Greenblatt) % is 17.76% 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 (MEX:ASEH N) Overvalued in 2026?
Based on GuruFocus' analysis, ASE Technology Holding Co stock appears to be overvalued.
The current stock price of MXN699.00 is trading 788.1% above its estimated GF Value™ of MXN78.71.
GuruFocus considers ASE Technology Holding Co to be Significantly Overvalued.
Key valuation signals for MEX:ASEH N:
ROC (Joel Greenblatt) %: 17.76% (near median its 10-year median of 16.80)
GF Value™: MXN78.71 vs. price of MXN699.00 (788.1% above fair value)
Industry Position: 112.7% above the Semiconductors median (#394 of 1025)
No single metric tells the full story. See the MEX:ASEH N 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.
56GF Score
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