United MicroelectronicsTPE:2303 -8.12%73 ROE % is 16.75% as of Mar. 2026, which is 54% above its 10-year median of 10.89. GuruFocus rates TPE:2303 with a GF Score™ of 73/100 and a GF Value™ of NT$50.78 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 1,002 Semiconductors companies, United Microelectronics ranks better than 75.15% on this metric.
The historical rank and industry rank for United Microelectronics's ROE % or its related term are showing as below:
TPE:2303'
s ROE % Range Over the Past 10 Years
Min: 3.72 Med: 10.89 Max: 30.51
Current: 13.1
During the past 13 years, United Microelectronics's highest ROE % was 30.51%. The lowest was 3.72%. And the median was 10.89%.
TPE:2303's ROE % is ranked better than 75.15% of 1002
companies
in the Semiconductors industry
Industry Median: 4.55
vs TPE:2303: 13.10
United Microelectronics (TPE:2303) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
* 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.
For the Semiconductors subindustry, United Microelectronics's ROE %, along with its competitors' market caps and ROE % 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.
United Microelectronics ROE % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, United Microelectronics's ROE % distribution charts can be found below:
* The bar in red indicates where United Microelectronics's ROE % 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
United Microelectronics (TPE:2303) has a ROE % of 16.75% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on United Microelectronics and its competitors. This is 54% above median its historical median of 10.89. Over the past decade, United Microelectronics' ROE % has ranged from 3.72 to 30.51. According to the industry distribution chart, United Microelectronics ranks #249 out of 1002 companies in the Semiconductors industry, placing it in the top 24.9%.
Is United Microelectronics' ROE % too high?
United Microelectronics' current ROE % of 16.75% is 54% above median its 10-year median of 10.89. Over the past 10 years, this metric has ranged from a low of 3.72 to a high of 30.51. The Semiconductors industry median ROE % is 4.55. United Microelectronics' value of 16.75% is 268.1% above this industry median. Based on the distribution chart, United Microelectronics ranks #249 out of 1002 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, United Microelectronics has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does United Microelectronics' ROE % compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, United Microelectronics ranks #249 out of 1002 companies for ROE %. This places United Microelectronics in the top 25% of its industry — outperforming the majority of peers. The industry median ROE % is 4.55. United Microelectronics' value of 16.75% is 268.1% above this benchmark. Historically, United Microelectronics' own ROE % has ranged from 3.72 to 30.51 over the past decade. While the company's 10-year median is 10.89 vs. the industry median of 4.55, United Microelectronics 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 ROE % for a Semiconductors company?
The median ROE % among Semiconductors companies is 4.55, based on 1,002 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. United Microelectronics's current ROE % of 16.75% is 268.1% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on United Microelectronics and its competitors. For the Semiconductors industry, the median ROE % is 4.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. United Microelectronics's current ROE % is 16.75%, which is 54% above median its own 10-year median of 10.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is United Microelectronics stock overvalued right now?
Based on GuruFocus' analysis, United Microelectronics (TPE:2303) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$50.78, compared to a current price of NT$164.00 — trading 223% above its estimated fair value. The current ROE % is 16.75%, which is 54% above median its 10-year median of 10.89 and 268.1% above the Semiconductors industry median of 4.55. United Microelectronics' overall GF Score™ is 73/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For United Microelectronics (TPE:2303), the current ROE % is 16.75% 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 United Microelectronics (TPE:2303) Overvalued in 2026?
Based on GuruFocus' analysis, United Microelectronics stock appears to be overvalued.
The current stock price of NT$164.00 is trading 223% above its estimated GF Value™ of NT$50.78.
GuruFocus considers United Microelectronics to be Significantly Overvalued.
Key valuation signals for TPE:2303:
ROE %: 16.75% (54% above median its 10-year median of 10.89)
GF Value™: NT$50.78 vs. price of NT$164.00 (223% above fair value)
Industry Position: 268.1% above the Semiconductors median (#249 of 1002)
No single metric tells the full story. See the TPE:2303 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Founded in 1980, United Microelectronics is the world's third-largest dedicated chip foundry, with close to 5% market share in 2025 after TSMC and SMIC. UMC's headquarters are in Hsinchu, Taiwan, and it operates 12 fabs in Taiwan, Mainland China, Japan and Singapore, with additional sales offices in Europe, the US, and South Korea. UMC features a diverse customer base that includes Texas Instruments, MediaTek, Intel, Broadcom, Novatek, and Realtek, supplying a wide range of products applied in communications, display, memory, automotive and more. UMC employs about 19,000 people as of February 2025.
73GF Score
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