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Formosa Advanced Technologies CoTPE:8131 -7.90%71 ROC (Joel Greenblatt) % is 46.11% as of Mar. 2026, which is 68% above its 10-year median of 27.38. GuruFocus rates TPE:8131 with a GF Score™ of 71/100 and a GF Value™ of NT$47.95 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,027 Semiconductors companies, Formosa Advanced Technologies Co ranks better than 63.1% 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. Formosa Advanced Technologies Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 46.11%.
The historical rank and industry rank for Formosa Advanced Technologies Co's ROC (Joel Greenblatt) % or its related term are showing as below:
TPE:8131'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 13.64 Med: 27.38 Max: 50.51
Current: 18.16
During the past 13 years, Formosa Advanced Technologies Co's highest ROC (Joel Greenblatt) % was 50.51%. The lowest was 13.64%. And the median was 27.38%.
TPE:8131's ROC (Joel Greenblatt) % is ranked better than 63.1% of 1027
companies
in the Semiconductors industry
Industry Median: 8.41
vs TPE:8131: 18.16
Formosa Advanced Technologies Co (TPE:8131) 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.
* 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.
Formosa Advanced Technologies Co ROC (Joel Greenblatt) % Chart
TPE:8131 vs NVDA, AVGO, MU: ROC (Joel Greenblatt) % Comparison
For the Semiconductors subindustry, Formosa Advanced Technologies 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.
Formosa Advanced Technologies Co ROC (Joel Greenblatt) % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Formosa Advanced Technologies Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Formosa Advanced Technologies Co's ROC (Joel Greenblatt) % falls into.
Formosa Advanced Technologies 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 46.11% mean?
Formosa Advanced Technologies Co (TPE:8131) has a ROC (Joel Greenblatt) % of 46.11% 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 Formosa Advanced Technologies Co and its competitors. This is 68% above median its historical median of 27.38. Over the past decade, Formosa Advanced Technologies Co's ROC (Joel Greenblatt) % has ranged from 13.64 to 50.51. According to the industry distribution chart, Formosa Advanced Technologies Co ranks #379 out of 1027 companies in the Semiconductors industry, placing it in the top 36.9%.
Is Formosa Advanced Technologies Co's ROC (Joel Greenblatt) % too high?
Formosa Advanced Technologies Co's current ROC (Joel Greenblatt) % of 46.11% is 68% above median its 10-year median of 27.38. Over the past 10 years, this metric has ranged from a low of 13.64 to a high of 50.51. The Semiconductors industry median ROC (Joel Greenblatt) % is 8.41. Formosa Advanced Technologies Co's value of 46.11% is 448.3% above this industry median. Based on the distribution chart, Formosa Advanced Technologies Co ranks #379 out of 1027 companies in the Semiconductors industry, which is above the industry midpoint. Overall, Formosa Advanced Technologies Co has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Formosa Advanced Technologies Co's ROC (Joel Greenblatt) % compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, Formosa Advanced Technologies Co ranks #379 out of 1027 companies for ROC (Joel Greenblatt) %. This puts Formosa Advanced Technologies Co in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 8.41. Formosa Advanced Technologies Co's value of 46.11% is 448.3% above this benchmark. Historically, Formosa Advanced Technologies Co's own ROC (Joel Greenblatt) % has ranged from 13.64 to 50.51 over the past decade. While the company's 10-year median is 27.38 vs. the industry median of 8.41, Formosa Advanced Technologies 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 8.41, 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. Formosa Advanced Technologies Co's current ROC (Joel Greenblatt) % of 46.11% is 448.3% 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 Formosa Advanced Technologies Co and its competitors. For the Semiconductors industry, the median ROC (Joel Greenblatt) % is 8.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Formosa Advanced Technologies Co's current ROC (Joel Greenblatt) % is 46.11%, which is 68% above median its own 10-year median of 27.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Formosa Advanced Technologies Co stock overvalued right now?
Based on GuruFocus' analysis, Formosa Advanced Technologies Co (TPE:8131) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$47.95, compared to a current price of NT$53.60 — trading 11.8% above its estimated fair value. The current ROC (Joel Greenblatt) % is 46.11%, which is 68% above median its 10-year median of 27.38 and 448.3% above the Semiconductors industry median of 8.41. Formosa Advanced Technologies Co's overall GF Score™ is 71/100 with 6 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 Formosa Advanced Technologies Co (TPE:8131), the current ROC (Joel Greenblatt) % is 46.11% 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 Formosa Advanced Technologies Co (TPE:8131) Overvalued in 2026?
Based on GuruFocus' analysis, Formosa Advanced Technologies Co stock appears to be overvalued.
The current stock price of NT$53.60 is trading 11.8% above its estimated GF Value™ of NT$47.95.
GuruFocus considers Formosa Advanced Technologies Co to be Modestly Overvalued.
Key valuation signals for TPE:8131:
ROC (Joel Greenblatt) %: 46.11% (68% above median its 10-year median of 27.38)
GF Value™: NT$47.95 vs. price of NT$53.60 (11.8% above fair value)
Industry Position: 448.3% above the Semiconductors median (#379 of 1027)
No single metric tells the full story. See the TPE:8131 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Formosa Advanced Technologies Co Business Description
Formosa Advanced Technologies Co Ltd is a professional manufacturer of DRAM assembly, testing, and module Turn-Key service in Taiwan. The group's business activity is operated in Taiwan, the USA, China, Korea, Mainland China, and Others. The company's operating segment includes the integrated-chips ("IC" ) department and the module department. The integrated-chips department includes packaging, testing, processing, and research and development of integrated chips. The module department includes the assembly, testing, and research and development of module pieces.
71GF Score
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