Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Taiwan Surface Mounting TechnologyTPE:6278 +5.15%80 ROC (Joel Greenblatt) % is 23.21% as of Mar. 2026, which is 15% below its 10-year median of 27.21. GuruFocus rates TPE:6278 with a GF Score™ of 80/100 and a GF Value™ of NT$114.51 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 1,027 Semiconductors companies, Taiwan Surface Mounting Technology ranks better than 69.81% 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. Taiwan Surface Mounting Technology's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 23.21%.
The historical rank and industry rank for Taiwan Surface Mounting Technology's ROC (Joel Greenblatt) % or its related term are showing as below:
TPE:6278'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 9.49 Med: 27.21 Max: 35.13
Current: 24.68
During the past 13 years, Taiwan Surface Mounting Technology's highest ROC (Joel Greenblatt) % was 35.13%. The lowest was 9.49%. And the median was 27.21%.
TPE:6278's ROC (Joel Greenblatt) % is ranked better than 69.81% of 1027
companies
in the Semiconductors industry
Industry Median: 8.61
vs TPE:6278: 24.68
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.
* 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.
TPE:6278 vs NVDA, AVGO, MU: ROC (Joel Greenblatt) % Comparison
For the Semiconductors subindustry, Taiwan Surface Mounting 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.
Taiwan Surface Mounting Technology ROC (Joel Greenblatt) % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Taiwan Surface Mounting Technology's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Taiwan Surface Mounting 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 (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 23.21% mean?
Taiwan Surface Mounting Technology (TPE:6278) has a ROC (Joel Greenblatt) % of 23.21% 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 Taiwan Surface Mounting Technology and its competitors. This is 15% below median its historical median of 27.21. Over the past decade, Taiwan Surface Mounting Technology's ROC (Joel Greenblatt) % has ranged from 9.49 to 35.13. According to the industry distribution chart, Taiwan Surface Mounting Technology ranks #310 out of 1027 companies in the Semiconductors industry, placing it in the top 30.2%.
Is Taiwan Surface Mounting Technology's ROC (Joel Greenblatt) % too high?
Taiwan Surface Mounting Technology's current ROC (Joel Greenblatt) % of 23.21% is 15% below median its 10-year median of 27.21. Over the past 10 years, this metric has ranged from a low of 9.49 to a high of 35.13. The Semiconductors industry median ROC (Joel Greenblatt) % is 8.61. Taiwan Surface Mounting Technology's value of 23.21% is 169.6% above this industry median. Based on the distribution chart, Taiwan Surface Mounting Technology ranks #310 out of 1027 companies in the Semiconductors industry, which is above the industry midpoint. Overall, Taiwan Surface Mounting Technology has a GF Score™ of 80/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Taiwan Surface Mounting Technology's ROC (Joel Greenblatt) % compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, Taiwan Surface Mounting Technology ranks #310 out of 1027 companies for ROC (Joel Greenblatt) %. This puts Taiwan Surface Mounting Technology in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 8.61. Taiwan Surface Mounting Technology's value of 23.21% is 169.6% above this benchmark. Historically, Taiwan Surface Mounting Technology's own ROC (Joel Greenblatt) % has ranged from 9.49 to 35.13 over the past decade. While the company's 10-year median is 27.21 vs. the industry median of 8.61, Taiwan Surface Mounting 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 8.61, based on 1,027 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. Taiwan Surface Mounting Technology's current ROC (Joel Greenblatt) % of 23.21% is 169.6% 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 Taiwan Surface Mounting Technology and its competitors. For the Semiconductors industry, the median ROC (Joel Greenblatt) % is 8.61 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Taiwan Surface Mounting Technology's current ROC (Joel Greenblatt) % is 23.21%, which is 15% below median its own 10-year median of 27.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Taiwan Surface Mounting Technology stock overvalued right now?
Based on GuruFocus' analysis, Taiwan Surface Mounting Technology (TPE:6278) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$114.51, compared to a current price of NT$153.00 — trading 33.6% above its estimated fair value. The current ROC (Joel Greenblatt) % is 23.21%, which is 15% below median its 10-year median of 27.21 and 169.6% above the Semiconductors industry median of 8.61. Taiwan Surface Mounting Technology's overall GF Score™ is 80/100 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 Taiwan Surface Mounting Technology (TPE:6278), the current ROC (Joel Greenblatt) % is 23.21% 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 Taiwan Surface Mounting Technology (TPE:6278) Overvalued in 2026?
Based on GuruFocus' analysis, Taiwan Surface Mounting Technology stock appears to be overvalued.
The current stock price of NT$153.00 is trading 33.6% above its estimated GF Value™ of NT$114.51.
GuruFocus considers Taiwan Surface Mounting Technology to be Significantly Overvalued.
Key valuation signals for TPE:6278:
ROC (Joel Greenblatt) %: 23.21% (15% below median its 10-year median of 27.21)
GF Value™: NT$114.51 vs. price of NT$153.00 (33.6% above fair value)
Industry Position: 169.6% above the Semiconductors median (#310 of 1027)
No single metric tells the full story. See the TPE:6278 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Taiwan Surface Mounting Technology Corp is engaged in the design, processing, manufacturing, and trading of TFT-LCD panels, general electronic information products, and PCB surface-mount packaging. Its Surface Mounting Technology is widely used for IT and electronic products. The products provided include Control boards for TFT-LCD panels (TV/Desk Top/ Note books), other electronic products, and light bars.
80GF Score
Get the complete analysis for TPE:6278
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TPE:6278 has been successfully added to your 
