3587 閎康

EPS 年複合成長率: 18.81% (110-106)
營業利益年複合成長率: 19.49% (110-106)
本益比: 12.69
本益成長比: 0.651
總報酬本益比: 1.813
近四季EPS總合: 9.18 (2.99,2.29,2.46,1.75)
融資餘額佔股本比例：2.12%
融資使用率: 8.5%
近期收盤價: 116.5 (2022-05-16)
技術線型
股利政策 (現金股利有部份來自資本公積要注意，但是如果是只有很少比例是來自資本公積而且是有計劃性是可以的，因為這樣可以降低股東權益，提升ROE)

股價漲跌幅

	2022	2021	2020
閎康	-26.0%	80.0%	-2.0%
0050	-15.98%	3.82%	50.48%

營業毛利率,營業利益率,稅前淨利率,股東權益報酬率-近10年

	2021	2020	2019	2018	2017	2016	2015	2014	2013
營業毛利率	35.88	29.63	27.02	30.96	32.05	38.10	38.09	41.74	42.86
營業利益率	19.93	14.48	12.80	15.09	16.15	21.78	21.12	24.94	25.91
折舊負擔比率	22.85	22.24	23.85	22.39	22.07	20.71	21.96	20.55	21.61
稅前淨利率	20.89	14.75	12.18	15.41	15.44	21.44	21.63	25.66	25.95
股東權益報酬率	18.83	13.59	9.06	9.62	9.61	14.97	14.17	18.23	22.31
資產報酬率	12.28	9.15	6.45	7.37	7.53	11.36	11.37	15.18	18.03
本業收入比	95.44	98.01	104.84	97.82	104.56	101.60	97.93	97.05	100.00
業外獲益比	4.70	1.77	-5.16	2.18	-4.56	-1.60	2.48	2.95	0.00
無形資產佔淨值比	0.13	0.14	0.12	0.08	0.00	0.00	0.00	0.00	0.00

營業毛利率,營業利益率,稅前淨利率,股東權益報酬率-近20季

	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2	18Q1
營業毛利率	37.22	35.09	38.23	32.57	33.08	30.60	27.28	26.84	27.19	25.14	25.16	31.12	33.29	30.32	30.70	29.04
營業利益率	19.23	18.98	22.20	19.44	16.77	15.36	12.66	12.65	15.10	8.83	12.24	15.23	18.50	12.64	16.60	11.90
稅前淨利率	24.27	19.15	21.98	17.63	17.70	16.14	11.43	13.15	13.42	8.01	12.25	15.50	19.71	10.19	17.40	13.98
本業收入比	79.28	99.42	101.12	110.08	94.52	95.45	110.59	96.63	112.77	109.43	100.00	97.67	93.81	123.21	94.51	83.87
業外獲益比	20.72	1.16	-1.12	-10.08	5.48	4.55	-10.59	3.37	-12.77	-9.43	0.00	1.16	6.19	-23.21	4.40	14.52

現金流量-近10年 (1.避開自由現金流量近3年都小於0的公司 2.營運現金流量要大於稅後淨利，除非受到應收帳款和存貨影響 3.營運現金流量不應該都是流出)

	2021	2020	2019	2018	2017	2016	2015	2014	2013
營運現金流量(百萬)	1516	1104	617	680	485	493	396	319	536
自由現金流量(百萬)	555	435	-232	134	-295	-53	-126	102	365
稅後淨利(百萬)	587	385	246	257	215	230	178	210	221

現金流量-近20季

	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2	18Q1
營運現金流量(百萬)	405	355	299	457	495	241	178	190	237	39	144	196	236	134	140	170
自由現金流量(百萬)	105	66	72	312	353	10	5	67	-128	-178	-18	91	122	45	-86	53
稅後淨利(百萬)	185	141	151	109	123	134	59	69	77	45	65	60	92	48	68	49

成長能力-近10年 (營業利益和稅後淨利成長率要大於營收成長率)

	2021	2020	2019	2018	2017	2016	2015	2014	2013
營收(百萬)	3361	3062	2541	2081	1704	1458	1120	1056	958
營業利益(百萬)	670	443	325	314	275	318	237	263	248
稅後淨利(百萬)	587	385	246	257	215	230	178	210	221
EPS(完全稀釋)	9.35	6.07	3.90	4.04	3.95	4.83	3.76	4.45	5.02
營收成長率(%)	9.76	20.50	22.10	22.12	16.87	30.18	6.06	10.23	N/A
營業利益成長率(%)	51.24	36.31	3.50	14.18	-13.52	34.18	-9.89	6.05	N/A
稅後淨利成長率(%)	52.47	56.50	-4.28	19.53	-6.52	29.21	-15.24	-4.98	N/A
EPS成長率(%)	54.04	55.64	-3.47	2.28	-18.22	28.46	-15.51	-11.35	N/A

成長能力-近20季

	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2	18Q1
營收(百萬)	914	905	810	731	822	818	744	677	702	657	628	554	573	548	520	440
營業利益(百萬)	176	172	180	142	138	126	94	86	106	58	77	84	106	69	86	52
稅後淨利(百萬)	185	141	151	109	123	134	59	69	77	45	65	60	92	48	68	49
EPS(完全稀釋)	2.99	2.29	2.46	1.75	1.98	2.15	0.94	1.11	1.23	0.72	1.04	0.96	1.47	0.77	1.09	0.79
去年同期營收成長率(%)	11.19	10.64	8.87	7.98	17.09	24.51	18.47	22.20	22.51	19.89	20.77	25.91	0.00	0.00	0.00	0.00
去年同期營業利益成長率(%)	27.54	36.51	91.49	65.12	30.19	117.24	22.08	2.38	0.00	-15.94	-10.47	61.54	0.00	0.00	0.00	0.00
去年同期稅後淨利成長率(%)	50.41	5.22	155.93	57.97	59.74	197.78	-9.23	15.00	-16.30	-6.25	-4.41	22.45	0.00	0.00	0.00	0.00
去年同期EPS成長率(%)	51.01	6.51	161.70	57.66	60.98	198.61	-9.62	15.63	-16.33	-6.49	-4.59	21.52	0.00	0.00	0.00	0.00
較上季營收成長率(%)	0.99	11.73	10.81	-11.07	0.49	9.95	9.90	-3.56	6.85	4.62	13.36	-3.32	4.56	5.38	18.18	0.00
較上季營業利益成長率(%)	2.33	-4.44	26.76	2.90	9.52	34.04	9.30	-18.87	82.76	-24.68	-8.33	-20.75	53.62	-19.77	65.38	0.00
較上季稅後淨利成長率(%)	31.21	-6.62	38.53	-11.38	-8.21	127.12	-14.49	-10.39	71.11	-30.77	8.33	-34.78	91.67	-29.41	38.78	0.00
較上季EPS成長率(%)	30.57	-6.91	40.57	-11.62	-7.91	128.72	-15.32	-9.76	70.83	-30.77	8.33	-34.69	90.91	-29.36	37.97	0.00

每月營收變化

年/月	月增率(%)	去年同期年增率(%)	累計營收年增率(%)	年/月	月增率(%)	去年同期年增率(%)	累計營收年增率(%)
2022/4	-11.88	13.07	19.84	2019/12	1.6	21.67	22.12
2022/3	25.81	21.21	22.22	2019/11	11.0	27.87	22.17
2022/1~2	-13.04	22.83	22.82	2019/10	-4.78	18.17	21.53
2021/12	10.43	7.73	9.78	2019/9	6.96	25.37	21.94
2021/11	13.97	16.74	10.01	2019/8	-1.61	16.0	21.47
2021/10	-12.04	9.61	9.3	2019/7	-0.63	18.67	22.35
2021/9	0.95	11.48	9.27	2019/6	3.82	18.68	23.05
2021/8	2.23	9.22	8.96	2019/5	4.57	17.97	24.08
2021/7	5.1	11.18	8.92	2019/4	-1.62	26.27	25.89
2021/6	4.01	11.1	8.49	2019/3	29.35	34.47	25.76
2021/5	5.41	9.39	7.92	2019/1~2	-17.78	21.18	21.17
2021/4	-5.54	6.1	7.53	2018/12	6.77	18.16	22.14
2021/3	26.83	15.24	8.04	2018/11	2.58	21.41	22.58
2021/1~2	-12.2	4.18	4.18	2018/10	1.02	21.15	22.72
2020/12	19.67	28.47	20.46	2018/9	-1.03	17.65	22.91
2020/11	7.01	9.07	19.61	2018/8	0.65	26.6	23.67
2020/10	-10.54	13.13	20.84	2018/7	-0.62	28.56	23.21
2020/9	-1.09	20.43	21.75	2018/6	3.19	31.08	22.24
2020/8	4.07	30.25	21.94	2018/5	11.92	32.19	20.33
2020/7	5.03	23.13	20.67	2018/4	4.76	20.21	17.21
2020/6	2.41	16.48	20.22	2018/3	7.94	10.41	16.16
2020/5	2.24	18.09	21.07	2018/1~2	-4.98	19.43	19.42
2020/4	2.58	20.78	21.9	2017/12	9.71	23.09	16.81
2020/3	10.46	15.81	22.31	2017/11	2.36	16.81	16.16
2020/1~2	-5.73	26.1	26.1	2017/10	-1.89	31.87	16.08

稅前淨利較去年同期

2021Q4(百萬)	2020Q4(百萬)	YoY(%)
222.0	146.0	52.054
2021Q3(百萬)	2020Q3(百萬)	YoY(%)
173.0	132.0	31.060
2021Q2(百萬)	2020Q2(百萬)	YoY(%)
178.0	85.0	109.41

EPS較上季

2021Q4(元)	2021Q3(元)	比率
2.99	2.29	0.3056

應收帳周轉率和存貨周轉率-近10年

	2021	2020	2019	2018	2017	2016	2015	2014	2013
應收帳款周轉率	4.08	3.89	3.87	3.94	3.72	3.60	3.28	4.05	3.89
存貨周轉率	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

應收帳周轉率和存貨周轉率-近20季

	21Q4	21Q3	21Q2
應收帳款周轉率	1.16	1.20	1.13
存貨周轉率	0.00	0.00	0.00

償債能力-近10年

	2021	2020	2019	2018	2017	2016	2015	2014	2013
負債比	0.38	0.33	0.36	0.27	0.21	0.24	0.24	0.15	0.19
金融負債(百萬)	959	713	834	448	251	197	100	0	10
營收淨額(百萬)	3361	3062	2541	2081	1704	1458	1120	1056	958
利息保障倍數	49.90	29.99	22.19	133.01	144.94	306.03	3907.23	16937.40	560.57
長期銀行借款占稅後淨利比	1.48	1.63	2.12	1.28	0.81	0.52	0.00	0.00	0.00

成本指標-近10年

	2021	2020	2019	2018	2017	2016	2015	2014	2013
營收淨額(百萬)	3361	3062	2541	2081	1704	1458	1120	1056	958
推銷費用(百萬)	173	157	156	135	111	85	60	33	34
管理費用(百萬)	249	200	187	171	146	135	118	124	113
研發費(百萬)	125	87	21	16	14	18	11	20	15
推銷費用率(%)	5.15	5.13	6.14	6.49	6.51	5.83	5.36	3.12	3.55
管理費用率(%)	7.41	6.53	7.36	8.22	8.57	9.26	10.54	11.74	11.80
研發費用率(%)	3.72	2.84	0.83	0.77	0.82	1.23	0.98	1.89	1.57

成本指標-近20季

	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2	18Q1
營收淨額(百萬)	914	905	810	731	822	818	744	677	702	657	628	554	573	548	520	440
推銷費用(百萬)	45	41	45	41	43	39	37	38	40	40	39	37	36	34	36	29
管理費用(百萬)	69	70	59	51	56	50	47	48	48	45	44	49	48	47	41	34
研發費(百萬)	55	31	23	16	28	25	21	13	6	4	4	7	9	3	2	3
推銷費用率(%)	4.92	4.53	5.56	5.61	5.23	4.77	4.97	5.61	5.70	6.09	6.21	6.68	6.28	6.20	6.92	6.59
管理費用率(%)	7.55	7.73	7.28	6.98	6.81	6.11	6.32	7.09	6.84	6.85	7.01	8.84	8.38	8.58	7.88	7.73
研發費用率(%)	6.02	3.43	2.84	2.19	3.41	3.06	2.82	1.92	0.85	0.61	0.64	1.26	1.57	0.55	0.38	0.68

財務健檢燈號

公司	上市滿三年	資本額10億以上	股本形成中現金增資比率低於50%	負債比率低於50%	董監持股設質低於10%	現金(含約當現金)占股本超過50%	過去4季累積正營運現金流量	過去4季ROE超過25%	過去6個月的營收維持正的年成長率	過去4季的EPS年增率是正數
3587-閎康	O	X	X	O	X	O	O	X	O	O
	13年	6.23億	63.96%	38.35%	28.81%	270.63%	1516百萬	23.36%

融資使用率

日期	股價	融資使用率
2022-05-16 -	116.5	8.50%
2022-05-13	119.0	8.37%
2022-05-12	117.0	8.38%
2022-05-11	120.0	8.36%
2022-05-10	118.5	8.11%
2022-05-09	119.0	8.50%
2022-05-06	123.0	8.79%
2022-05-05	125.0	8.93%
2022-05-04	122.5	8.89%
2022-05-03	123.0	8.92%
2022-04-29	125.5	8.87%
2022-04-28	125.0	8.76%
2022-04-27	127.0	8.59%
2022-04-26	129.0	8.85%
2022-04-25	129.0	8.85%
2022-04-22	134.0	9.61%
2022-04-21	135.5	9.69%
2022-04-20	135.0	9.74%
2022-04-19	135.5	9.77%
2022-04-18	134.0	9.78%
2022-04-15	138.0	9.82%
2022-04-14	138.5	9.73%
2022-04-13	144.5	9.79%
2022-04-12	141.5	10.00%
2022-04-11	139.0	9.95%
2022-04-08	142.0	9.98%
2022-04-07	137.5	10.08%
2022-04-06	142.5	10.73%
2022-04-01	144.0	10.74%
2022-03-31	144.5	10.89%
2022-03-30	146.0	10.89%
2022-03-29	145.5	10.96%
2022-03-28	145.5	11.07%
2022-03-25	144.5	11.24%
2022-03-24	147.5	11.64%
2022-03-23	144.5	11.79%
2022-03-22	145.0	11.82%
2022-03-21	145.0	11.71%
2022-03-18	144.5	11.63%
2022-03-17	142.0	10.87%
2022-03-16	136.5	10.83%
2022-03-15	137.5	10.98%
2022-03-14	144.0	11.10%
2022-03-11	143.5	11.14%
2022-03-10	144.5	11.11%
2022-03-09	139.5	11.02%
2022-03-08	138.5	11.05%
2022-03-07	141.0	11.43%
2022-03-04	147.5	11.90%
2022-03-03	149.0	11.97%
2022-03-02	149.5	11.72%
2022-03-01	145.5	11.89%
2022-02-25	143.5	12.00%
2022-02-24	143.0	11.97%
2022-02-23	148.0	12.74%
2022-02-22	145.0	12.74%
2022-02-21	149.0	13.33%
2022-02-18	145.5	12.86%
2022-02-17	144.5	13.02%
2022-02-16	147.5	13.20%
2022-02-15	143.0	12.97%
2022-02-14	138.5	12.84%
2022-02-11	143.5	13.36%
2022-02-10	144.0	13.33%
2022-02-09	144.0	13.41%
2022-02-08	141.0	13.69%
2022-02-07	140.0	13.72%
2022-01-26	138.5	13.77%
2022-01-25	138.0	13.82%
2022-01-24	139.5	13.76%
2022-01-21	139.0	14.08%
2022-01-20	142.0	14.21%
2022-01-19	145.5	13.85%
2022-01-18	143.5	14.37%
2022-01-17	146.0	15.06%
2022-01-14	144.5	15.10%
2022-01-13	152.0	16.11%
2022-01-12	152.0	14.80%
2022-01-11	151.0	15.68%
2022-01-10	155.0	16.49%
2022-01-07	150.5	16.56%
2022-01-06	158.0	16.98%
2022-01-05	154.0	19.68%
2022-01-04	157.0	18.99%
2022-01-03	158.5	19.51%
2021-12-30	157.0	20.45%
2021-12-29	158.5	20.68%
2021-12-28	154.5	17.98%
2021-12-27	152.0	17.26%
2021-12-24	152.0	18.46%
2021-12-23	154.5	18.24%
2021-12-22	153.5	18.42%
2021-12-21	153.5	19.28%
2021-12-20	150.5	18.71%
2021-12-17	147.5	18.33%
2021-12-16	149.5	18.84%
2021-12-15	145.5	18.72%
2021-12-14	143.0	18.75%
2021-12-13	145.5	19.22%
2021-12-10	139.5	14.14%
2021-12-09	139.0	14.39%
2021-12-08	136.5	14.66%
2021-12-07	137.5	14.58%
2021-12-06	133.0	14.26%
2021-12-03	134.5	14.25%
2021-12-02	132.5	14.08%
2021-12-01	135.5	14.11%
2021-11-30	134.0	14.13%
2021-11-29	132.0	14.44%
2021-11-26	134.5	15.13%
2021-11-25	138.5	15.38%
2021-11-24	136.5	15.35%
2021-11-23	137.0	15.39%
2021-11-22	140.0	15.25%
2021-11-19	138.5	15.07%
2021-11-18	138.0	15.15%
2021-11-17	139.5	15.23%
2021-11-16	138.0	15.40%
2021-11-15	139.5	15.62%
2021-11-12	136.0	15.64%
2021-11-11	135.5	15.68%
2021-11-10	138.0	15.55%
2021-11-09	135.0	15.60%
2021-11-08	135.0	15.32%
2021-11-05	140.0	15.60%
2021-11-04	139.0	15.32%
2021-11-03	141.0	15.24%
2021-11-02	140.0	15.52%
2021-11-01	146.0	14.52%
2021-10-29	143.0	14.73%
2021-10-28	144.5	14.73%
2021-10-27	147.0	14.60%
2021-10-26	145.5	14.94%
2021-10-25	148.5	14.91%
2021-10-22	150.5	15.00%
2021-10-21	147.0	15.22%
2021-10-20	150.0	15.28%
2021-10-19	151.5	15.21%
2021-10-18	148.0	14.75%
2021-10-15	148.0	15.37%
2021-10-14	142.5	14.38%
2021-10-13	145.0	14.46%
2021-10-12	151.0	14.78%
2021-10-08	161.5	14.16%
2021-10-07	153.0	14.84%
2021-10-06	147.5	12.25%
2021-10-05	146.0	11.61%
2021-10-04	141.5	11.89%
2021-10-01	140.0	11.79%
2021-09-30	145.0	12.26%
2021-09-29	137.5	11.66%
2021-09-28	143.5	12.89%
2021-09-27	145.0	12.80%
2021-09-24	148.0	13.01%
2021-09-23	143.5	13.12%
2021-09-22	144.5	13.01%
2021-09-17	147.0	13.26%
2021-09-16	143.5	13.19%
2021-09-15	144.5	13.43%
2021-09-14	154.0	13.51%
2021-09-13	150.5	13.27%
2021-09-10	153.5	13.45%
2021-09-09	156.0	13.28%
2021-09-08	150.0	13.22%
2021-09-07	151.0	13.99%
2021-09-06	158.0	14.36%
2021-09-03	155.0	14.87%
2021-09-02	157.0	13.78%
2021-09-01	157.0	14.13%
2021-08-31	153.5	13.94%
2021-08-30	151.5	14.28%
2021-08-27	152.5	14.37%
2021-08-26	155.0	14.42%
2021-08-25	148.0	14.25%
2021-08-24	143.0	13.75%
2021-08-23	144.5	13.76%
2021-08-20	141.0	13.19%
2021-08-19	141.0	12.74%
2021-08-18	139.0	11.82%
2021-08-17	132.0	12.18%
2021-08-16	134.0	12.13%
2021-08-13	134.5	12.34%
2021-08-12	140.5	12.56%
2021-08-11	137.0	12.79%
2021-08-10	143.5	14.51%
2021-08-09	147.0	15.16%
2021-08-06	149.0	16.70%
2021-08-05	152.5	16.84%
2021-08-04	152.0	17.16%
2021-08-03	152.5	17.68%
2021-08-02	148.5	17.92%
2021-07-30	151.0	17.96%
2021-07-29	152.0	17.76%
2021-07-28	147.5	16.84%
2021-07-27	154.5	19.93%
2021-07-26	161.5	21.38%
2021-07-23	147.0	18.97%
2021-07-22	139.5	17.85%
2021-07-21	143.5	19.75%
2021-07-20	149.0	19.06%
2021-07-19	135.5	13.70%
2021-07-16	140.0	13.92%
2021-07-15	140.0	12.72%
2021-07-14	141.0	12.52%
2021-07-13	132.0	10.93%
2021-07-12	134.0	10.59%
2021-07-09	128.0	10.23%
2021-07-08	129.5	10.44%
2021-07-07	127.0	10.16%
2021-07-06	128.0	10.28%
2021-07-05	129.0	9.99%
2021-07-02	125.5	10.14%
2021-07-01	123.5	10.14%
2021-06-30	126.0	10.63%
2021-06-29	128.5	10.66%
2021-06-28	128.5	10.84%
2021-06-25	130.5	10.80%
2021-06-24	129.0	9.73%
2021-06-23	124.0	10.18%
2021-06-22	122.0	10.51%
2021-06-21	123.0	10.39%
2021-06-18	126.5	10.07%
2021-06-17	127.5	10.66%
2021-06-16	125.5	10.89%
2021-06-15	129.0	11.09%
2021-06-11	125.0	10.96%
2021-06-10	127.0	10.94%
2021-06-09	124.0	10.48%
2021-06-08	122.5	10.42%
2021-06-07	122.0	10.51%
2021-06-04	124.0	10.54%
2021-06-03	122.0	10.08%
2021-06-02	120.0	10.32%
2021-06-01	125.0	10.16%
2021-05-31	125.0	9.99%
2021-05-28	121.5	10.35%
2021-05-27	120.5	10.23%
2021-05-26	120.5	10.44%
2021-05-25	123.0	10.17%
2021-05-24	117.5	10.46%