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eMemory TechnologyROCO:3529 +2.44%98 ROC (Joel Greenblatt) % is 314.70% as of Dec. 2025, which is 41% above its 10-year median of 223.53. GuruFocus rates ROCO:3529 with a GF Score™ of 98/100 and a GF Value™ of NT$3,111.72 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,028 Semiconductors companies, eMemory Technology ranks better than 98.15% 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. eMemory Technology's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 314.70%.
The historical rank and industry rank for eMemory Technology's ROC (Joel Greenblatt) % or its related term are showing as below:
ROCO:3529'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 106.51 Med: 223.53 Max: 408.26
Current: 291.93
During the past 13 years, eMemory Technology's highest ROC (Joel Greenblatt) % was 408.26%. The lowest was 106.51%. And the median was 223.53%.
ROCO:3529's ROC (Joel Greenblatt) % is ranked better than 98.15% of 1028
companies
in the Semiconductors industry
Industry Median: 8.64
vs ROCO:3529: 291.93
eMemory Technology's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 7.50% per year.
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.
eMemory Technology ROC (Joel Greenblatt) % Related Terms
eMemory Technology ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for eMemory Technology'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.
ROCO:3529 vs NVDA, AVGO, MU: ROC (Joel Greenblatt) % Comparison
For the Semiconductors subindustry, eMemory Technology'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.
eMemory Technology ROC (Joel Greenblatt) % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, eMemory Technology's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where eMemory Technology's ROC (Joel Greenblatt) % falls into.
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 (Dec. 2025) 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 314.70% mean?
eMemory Technology (ROCO:3529) has a ROC (Joel Greenblatt) % of 314.70% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on eMemory Technology and its competitors. This is 41% above median its historical median of 223.53. Over the past decade, eMemory Technology's ROC (Joel Greenblatt) % has ranged from 106.51 to 408.26. According to the industry distribution chart, eMemory Technology ranks #19 out of 1028 companies in the Semiconductors industry, placing it in the top 1.8%.
Is eMemory Technology's ROC (Joel Greenblatt) % too high?
eMemory Technology's current ROC (Joel Greenblatt) % of 314.70% is 41% above median its 10-year median of 223.53. Over the past 10 years, this metric has ranged from a low of 106.51 to a high of 408.26. The Semiconductors industry median ROC (Joel Greenblatt) % is 8.64. eMemory Technology's value of 314.70% is 3542.4% above this industry median. Based on the distribution chart, eMemory Technology ranks #19 out of 1028 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, eMemory Technology has a GF Score™ of 98/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does eMemory Technology's ROC (Joel Greenblatt) % compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, eMemory Technology ranks #19 out of 1028 companies for ROC (Joel Greenblatt) %. This places eMemory Technology in the top 2% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.64. eMemory Technology's value of 314.70% is 3542.4% above this benchmark. Historically, eMemory Technology's own ROC (Joel Greenblatt) % has ranged from 106.51 to 408.26 over the past decade. While the company's 10-year median is 223.53 vs. the industry median of 8.64, eMemory Technology 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 8.64, based on 1,028 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. eMemory Technology's current ROC (Joel Greenblatt) % of 314.70% is 3542.4% 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 eMemory Technology and its competitors. For the Semiconductors industry, the median ROC (Joel Greenblatt) % is 8.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. eMemory Technology's current ROC (Joel Greenblatt) % is 314.70%, which is 41% above median its own 10-year median of 223.53. 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 Modestly Undervalued. The stock's GF Value™ is NT$3,111.72, compared to a current price of NT$2,725.00 — trading 12.4% below its estimated fair value. The current ROC (Joel Greenblatt) % is 314.70%, which is 41% above median its 10-year median of 223.53 and 3542.4% above the Semiconductors industry median of 8.64. eMemory Technology's overall GF Score™ is 98/100 with 2 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 eMemory Technology (ROCO:3529), the current ROC (Joel Greenblatt) % is 314.70% as of Dec. 2025. 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$2,725.00 is trading 12.4% below its estimated GF Value™ of NT$3,111.72.
GuruFocus considers eMemory Technology to be Modestly Undervalued.
Key valuation signals for ROCO:3529:
ROC (Joel Greenblatt) %: 314.70% (41% above median its 10-year median of 223.53)
GF Value™: NT$3,111.72 vs. price of NT$2,725.00 (12.4% below fair value)
Industry Position: 3542.4% above the Semiconductors median (#19 of 1028)
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.
98GF Score
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