You would think so, but there’s that first pass of the liver you have to consider. Oral route for estrogen drops its bioavailability to something like 5%, whereas transdermal, sublingual, and buccal routes are as good as you can get short of injections. I dissolve mine under my lip and it takes a couple hours to disintegrate and absorb, so I generally try to take my pills after I’m done eating so I don’t swallow any.
Here’s more information if you’re still curious:
https://www.ncbi.nlm.nih.gov/m/pubmed/8530713/
Hope this helps!