3596 智易

EPS 年複合成長率: 20.44% (110-106)
營業利益年複合成長率: 19.06% (110-106)
本益比: 13.19
本益成長比: 0.692
總報酬本益比: 1.867
近四季EPS總合: 8.87 (2.24,2.35,1.85,2.2)
融資餘額佔股本比例：2.77%
融資使用率: 10.94%
近期收盤價: 117.0 (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)

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股價漲跌幅

	2022	2021	2020	2019	2018
智易	-10.0%	33.0%	82.0%	27.0%	37.0%
0050	-15.98%	3.82%	50.48%	14.17%	-5.71%

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	13.88	14.97	13.23	11.86	13.93	16.17	11.90	15.71	14.24
營業利益率	5.75	6.76	5.25	3.65	4.57	7.50	2.68	4.68	3.66
折舊負擔比率	1.39	1.44	1.19	0.82	1.07	0.87	1.05	1.51	1.52
稅前淨利率	5.94	6.93	5.18	4.20	3.92	7.10	3.63	5.59	4.77
股東權益報酬率	13.68	13.99	13.04	9.57	7.22	15.96	7.66	11.60	11.11
資產報酬率	5.52	6.14	5.99	4.94	4.29	9.71	4.65	6.95	6.38
本業收入比	96.74	97.65	101.47	86.85	116.77	105.65	73.93	83.68	76.60
業外獲益比	3.26	2.35	-1.47	13.15	-16.65	-5.65	26.07	16.32	23.40
無形資產佔淨值比	0.34	0.26	0.26	0.29	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	17Q4	17Q3	17Q2	17Q1
營業毛利率	13.99	14.35	13.10	14.10	15.59	15.35	14.06	14.67	14.18	13.47	12.57	12.84	10.25	11.55	11.82	15.01	13.49	12.99	14.98	14.37
營業利益率	5.93	5.71	4.96	6.40	6.96	7.61	6.20	6.00	4.79	5.41	4.98	5.77	2.72	3.57	4.19	4.50	3.93	3.74	5.56	5.15
稅前淨利率	6.37	6.05	5.28	6.07	7.36	7.69	5.99	6.39	4.04	5.18	5.12	6.20	3.56	3.40	4.32	6.22	3.89	4.91	5.52	1.23
本業收入比	92.96	94.25	93.85	105.48	94.49	99.05	103.57	93.86	118.59	104.51	97.23	93.02	76.41	105.22	97.06	72.15	100.96	76.10	101.12	422.41
業外獲益比	6.87	5.75	6.15	-5.48	5.36	0.95	-3.57	6.14	-18.59	-4.51	2.77	6.98	23.59	-5.22	2.94	27.52	-0.96	23.90	-0.74	-320.69

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)	-1524	3352	2497	1815	1076	2104	-153	1341	1340
自由現金流量(百萬)	-3314	2467	1659	1446	1380	1564	-683	639	1067
稅後淨利(百萬)	1788	1714	1313	872	607	1357	574	692	591

現金流量-近20季

	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2	18Q1	17Q4	17Q3	17Q2	17Q1
營運現金流量(百萬)	-803	-1028	-700	1007	2041	1606	1254	-1549	912	816	842	-73	1278	-257	-191	986	231	416	239	189
自由現金流量(百萬)	-1077	-1520	-1371	654	1740	1472	1192	-1936	829	355	622	-146	1183	-385	-299	947	401	596	236	146
稅後淨利(百萬)	465	487	381	454	528	574	351	261	270	337	335	371	205	196	246	224	133	197	228	50

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)	38240	33765	32898	26621	20110	23910	19975	17428	17015
營業利益(百萬)	2199	2283	1728	971	919	1794	536	815	622
稅後淨利(百萬)	1788	1714	1313	872	607	1357	574	692	591
EPS(完全稀釋)	8.06	7.77	6.51	4.56	3.18	7.06	3.00	4.19	4.08
營收成長率(%)	13.25	2.64	23.58	32.38	-15.89	19.70	14.61	2.43	N/A
營業利益成長率(%)	-3.68	32.12	77.96	5.66	-48.77	234.70	-34.23	31.03	N/A
稅後淨利成長率(%)	4.32	30.54	50.57	43.66	-55.27	136.41	-17.05	17.09	N/A
EPS成長率(%)	3.73	19.35	42.76	43.40	-54.96	135.33	-28.40	2.70	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	17Q4	17Q3	17Q2	17Q1
營收(百萬)	9586	9481	9548	9625	9122	9552	7948	7143	7727	7707	8453	9010	7989	6757	7087	4788	5361	5111	4884	4754
營業利益(百萬)	568	541	473	616	635	727	493	428	370	417	421	520	217	242	297	215	211	191	272	245
稅後淨利(百萬)	465	487	381	454	528	574	351	261	270	337	335	371	205	196	246	224	133	197	228	50
EPS(完全稀釋)	2.24	2.35	1.85	2.20	2.58	2.80	1.72	1.28	1.41	1.78	1.77	1.96	1.08	1.04	1.30	1.19	0.70	1.04	1.20	0.26
去年同期營收成長率(%)	5.09	-0.74	20.13	34.75	18.05	23.94	-5.97	-20.72	-3.28	14.06	19.27	88.18	49.02	32.21	45.11	0.72	-	-	-	-
去年同期營業利益成長率(%)	-10.55	-25.58	-4.06	43.93	71.62	74.34	17.10	-17.69	70.51	72.31	41.75	141.86	2.84	26.70	9.19	-12.24	-	-	-	-
去年同期稅後淨利成長率(%)	-11.93	-15.16	8.55	73.95	95.56	70.33	4.78	-29.65	31.71	71.94	36.18	65.62	54.14	-0.51	7.89	348.00	-	-	-	-
去年同期EPS成長率(%)	-13.18	-16.07	7.56	71.88	82.98	57.30	-2.82	-34.69	30.56	71.15	36.15	64.71	54.29	0.00	8.33	357.69	-	-	-	-
較上季營收成長率(%)	1.11	-0.70	-0.80	5.51	-4.50	20.18	11.27	-7.56	0.26	-8.83	-6.18	12.78	18.23	-4.66	48.02	-10.69	4.89	4.65	2.73	-
較上季營業利益成長率(%)	4.99	14.38	-23.21	-2.99	-12.65	47.46	15.19	15.68	-11.27	-0.95	-19.04	139.63	-10.33	-18.52	38.14	1.90	10.47	-29.78	11.02	-
較上季稅後淨利成長率(%)	-4.52	27.82	-16.08	-14.02	-8.01	63.53	34.48	-3.33	-19.88	0.60	-9.70	80.98	4.59	-20.33	9.82	68.42	-32.49	-13.60	356.00	-
較上季EPS成長率(%)	-4.68	27.03	-15.91	-14.73	-7.86	62.79	34.37	-9.22	-20.79	0.56	-9.69	81.48	3.85	-20.00	9.24	70.00	-32.69	-13.33	361.54	-

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	-26.47	-18.72	0.47	2019/12	-7.29	-4.92	23.57
2022/3	10.36	6.54	7.01	2019/11	3.88	7.27	26.67
2022/1~2	-3.16	7.26	7.26	2019/10	14.27	-10.89	28.91
2021/12	-2.96	13.07	13.25	2019/9	-7.69	4.85	35.09
2021/11	-4.73	3.05	13.26	2019/8	-19.02	15.54	39.03
2021/10	-0.82	0.39	14.39	2019/7	3.74	20.75	42.48
2021/9	8.32	2.4	16.27	2019/6	8.1	16.94	47.05
2021/8	2.67	0.78	18.4	2019/5	-6.03	7.68	55.01
2021/7	-5.17	-5.43	21.37	2019/4	2.86	35.7	72.14
2021/6	3.28	21.58	27.04	2019/3	4.38	81.06	88.18
2021/5	-5.93	25.89	28.19	2019/1~2	-25.31	91.55	91.55
2021/4	-3.6	13.89	28.75	2018/12	4.6	78.38	32.37
2021/3	14.37	36.31	34.74	2018/11	-13.71	25.38	28.77
2021/1~2	-8.46	33.9	33.9	2018/10	34.46	51.14	29.17
2020/12	-11.55	9.86	2.63	2018/9	1.71	43.59	26.32
2020/11	-7.19	15.16	2.04	2018/8	-15.37	31.08	24.37
2020/10	1.15	28.91	0.78	2018/7	0.47	24.59	23.44
2020/9	6.61	45.62	-2.09	2018/6	-0.44	26.69	23.21
2020/8	-3.66	26.07	-6.78	2018/5	18.41	65.75	22.32
2020/7	21.91	5.97	-10.7	2018/4	37.25	48.66	11.72
2020/6	6.94	-9.82	-13.58	2018/3	17.6	9.39	0.71
2020/5	-14.9	-8.84	-14.33	2018/1~2	-32.92	-2.92	-2.92
2020/4	15.36	0.65	-15.57	2017/12	-26.47	-35.74	-15.97
2020/3	25.31	-10.25	-20.72	2017/11	4.01	22.65	-13.9
2020/1~2	-25.03	-25.4	-25.39	2017/10	27.75	20.86	-16.85

稅前淨利較去年同期

2021Q4(百萬)	2020Q4(百萬)	YoY(%)
611.0	672.0	-9.077
2021Q3(百萬)	2020Q3(百萬)	YoY(%)
574.0	734.0	-21.79
2021Q2(百萬)	2020Q2(百萬)	YoY(%)
504.0	476.0	5.8823

EPS較上季

2021Q4(元)	2021Q3(元)	比率
2.24	2.35	-0.046

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	5.24	5.19	5.52	4.82	3.72	4.25	4.06	4.29	4.29
存貨周轉率	3.21	3.63	4.02	4.63	4.59	5.70	5.48	4.59	4.27

應收帳周轉率和存貨周轉率-近20季

	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2
應收帳款周轉率	1.28	1.29	1.32	1.39	1.26	1.39	1.27	1.15	1.21	1.08	1.11	1.34	1.31	1.05	1.27
存貨周轉率	0.65	0.69	0.82	0.93	0.98	1.06	0.86	0.76	0.85	0.94	1.15	1.22	1.11	1.03	1.23

償債能力-近10年

	2021	2020	2019	2018	2017	2016	2015	2014	2013
負債比	0.62	0.58	0.56	0.55	0.43	0.40	0.39	0.43	0.40
金融負債(百萬)	4693	764	529	1823	737	14	28	715	495
營收淨額(百萬)	38240	33765	32898	26621	20110	23910	19975	17428	17015
利息保障倍數	61.86	51.38	31.11	31.68	60.95	191.84	43.08	38.22	39.78
長期銀行借款占稅後淨利比	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.34

成本指標-近10年

	2021	2020	2019	2018	2017	2016	2015	2014	2013
營收淨額(百萬)	38240	33765	32898	26621	20110	23910	19975	17428	17015
推銷費用(百萬)	675	509	689	593	498	694	538	607	530
管理費用(百萬)	496	536	482	405	352	371	370	385	382
研發費(百萬)	1939	1725	1454	1187	1033	1007	933	931	889
推銷費用率(%)	1.77	1.51	2.09	2.23	2.48	2.90	2.69	3.48	3.11
管理費用率(%)	1.30	1.59	1.47	1.52	1.75	1.55	1.85	2.21	2.25
研發費用率(%)	5.07	5.11	4.42	4.46	5.14	4.21	4.67	5.34	5.22

成本指標-近20季

	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2	18Q1	17Q4	17Q3	17Q2	17Q1
營收淨額(百萬)	9586	9481	9548	9625	9122	9552	7948	7143	7727	7707	8453	9010	7989	6757	7087	4788	5361	5111	4884	4754
推銷費用(百萬)	196	175	157	147	122	141	121	125	153	165	188	183	174	130	147	142	139	118	116	126
管理費用(百萬)	139	119	133	105	152	148	114	122	143	113	116	109	111	111	92	90	90	89	89	85
研發費(百萬)	438	525	488	488	513	450	390	372	429	342	338	345	317	297	301	271	284	266	255	228
推銷費用率(%)	2.04	1.85	1.64	1.53	1.34	1.48	1.52	1.75	1.98	2.14	2.22	2.03	2.18	1.92	2.07	2.97	2.59	2.31	2.38	2.65
管理費用率(%)	1.45	1.26	1.39	1.09	1.67	1.55	1.43	1.71	1.85	1.47	1.37	1.21	1.39	1.64	1.30	1.88	1.68	1.74	1.82	1.79
研發費用率(%)	4.57	5.54	5.11	5.07	5.62	4.71	4.91	5.21	5.55	4.44	4.00	3.83	3.97	4.40	4.25	5.66	5.30	5.20	5.22	4.80

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
3596-智易	O	O	X	X	O	O	X	X	X	X
	13年	21.74億	61.73%	61.88%	0.0%	368.18%	-1524百萬	14.44%

融資使用率

日期	股價	融資使用率
2022-05-16 -	117.0	10.94%
2022-05-13	112.5	10.81%
2022-05-12	109.5	11.88%
2022-05-11	111.0	12.18%
2022-05-10	110.5	12.44%
2022-05-09	109.0	12.22%
2022-05-06	109.5	10.84%
2022-05-05	121.0	11.89%
2022-05-04	124.5	11.30%
2022-05-03	127.0	11.20%
2022-04-29	128.0	11.02%
2022-04-28	127.5	11.74%
2022-04-27	132.5	11.07%
2022-04-26	132.5	11.23%
2022-04-25	126.5	12.28%
2022-04-22	130.0	11.67%
2022-04-21	125.5	10.11%
2022-04-20	125.0	9.69%
2022-04-19	121.0	8.88%
2022-04-18	116.5	8.98%
2022-04-15	116.5	9.31%
2022-04-14	122.0	9.73%
2022-04-13	119.5	9.93%
2022-04-12	120.0	10.67%
2022-04-11	124.5	10.07%
2022-04-08	125.0	9.85%
2022-04-07	119.5	9.59%
2022-04-06	122.0	9.55%
2022-04-01	121.5	9.22%
2022-03-31	121.5	9.31%
2022-03-30	121.5	9.58%
2022-03-29	121.0	9.70%
2022-03-28	118.0	10.21%
2022-03-25	121.0	9.85%
2022-03-24	117.5	9.77%
2022-03-23	115.0	10.05%
2022-03-22	116.0	10.06%
2022-03-21	115.5	10.09%
2022-03-18	114.5	10.22%
2022-03-17	115.5	10.34%
2022-03-16	113.5	10.41%
2022-03-15	112.5	10.46%
2022-03-14	113.5	10.47%
2022-03-11	111.0	10.60%
2022-03-10	110.5	10.52%
2022-03-09	108.0	10.54%
2022-03-08	107.0	10.57%
2022-03-07	111.5	10.49%
2022-03-04	113.5	10.81%
2022-03-03	115.5	10.95%
2022-03-02	114.5	11.06%
2022-03-01	117.5	10.78%
2022-02-25	114.5	10.96%
2022-02-24	117.5	11.90%
2022-02-23	123.0	12.54%
2022-02-22	124.0	12.41%
2022-02-21	123.0	12.16%
2022-02-18	125.5	12.30%
2022-02-17	125.0	11.93%
2022-02-16	127.5	11.79%
2022-02-15	123.5	11.95%
2022-02-14	123.0	12.03%
2022-02-11	125.0	12.74%
2022-02-10	127.5	12.74%
2022-02-09	128.0	12.06%
2022-02-08	126.0	12.38%
2022-02-07	126.0	12.11%
2022-01-26	123.0	11.26%
2022-01-25	119.0	11.56%
2022-01-24	121.5	11.88%
2022-01-21	119.5	12.22%
2022-01-20	124.5	12.15%
2022-01-19	124.0	12.09%
2022-01-18	124.0	12.07%
2022-01-17	125.5	12.28%
2022-01-14	121.0	12.34%
2022-01-13	122.0	12.99%
2022-01-12	122.5	13.60%
2022-01-11	119.0	13.44%
2022-01-10	123.5	14.39%
2022-01-07	125.0	14.33%
2022-01-06	128.0	15.60%
2022-01-05	129.0	15.64%
2022-01-04	134.5	14.94%
2022-01-03	129.5	14.75%
2021-12-30	127.5	15.49%
2021-12-29	129.0	15.49%
2021-12-28	125.0	16.24%
2021-12-27	126.5	16.54%
2021-12-24	124.5	16.72%
2021-12-23	124.5	17.17%
2021-12-22	127.0	17.03%
2021-12-21	126.0	16.66%
2021-12-20	125.5	17.60%
2021-12-17	125.5	17.54%
2021-12-16	127.0	17.62%
2021-12-15	125.5	17.43%
2021-12-14	114.5	12.96%
2021-12-13	116.0	13.48%
2021-12-10	114.5	13.09%
2021-12-09	113.0	12.73%
2021-12-08	108.5	13.33%
2021-12-07	110.0	13.86%
2021-12-06	107.0	14.26%
2021-12-03	107.5	14.31%
2021-12-02	108.0	14.44%
2021-12-01	110.5	14.56%
2021-11-30	110.0	14.85%
2021-11-29	105.5	14.97%
2021-11-26	106.0	15.51%
2021-11-25	107.5	16.18%
2021-11-24	108.5	16.30%
2021-11-23	110.0	16.97%
2021-11-22	115.0	18.21%
2021-11-19	116.5	18.58%
2021-11-18	112.5	17.15%
2021-11-17	111.0	17.82%
2021-11-16	114.0	19.07%
2021-11-15	119.0	20.27%
2021-11-12	114.5	18.07%
2021-11-11	113.0	18.11%
2021-11-10	115.5	18.16%
2021-11-09	114.5	18.37%
2021-11-08	115.5	18.25%
2021-11-05	113.5	17.95%
2021-11-04	115.5	16.91%
2021-11-03	105.0	15.40%
2021-11-02	102.5	15.69%
2021-11-01	108.5	15.77%
2021-10-29	105.0	13.69%
2021-10-28	105.0	13.47%
2021-10-27	105.5	14.75%
2021-10-26	101.5	13.05%
2021-10-25	98.8	12.22%
2021-10-22	99.0	12.04%
2021-10-21	95.4	10.90%
2021-10-20	94.7	10.88%
2021-10-19	92.6	10.57%
2021-10-18	90.9	10.73%
2021-10-15	91.6	10.76%
2021-10-14	91.3	10.79%
2021-10-13	90.8	10.75%
2021-10-12	93.0	10.85%
2021-10-08	95.6	10.89%
2021-10-07	95.8	10.57%
2021-10-06	90.8	10.68%
2021-10-05	92.5	10.66%
2021-10-04	90.4	10.68%
2021-10-01	89.9	10.82%
2021-09-30	93.0	10.72%
2021-09-29	93.0	10.87%
2021-09-28	94.2	11.01%
2021-09-27	92.5	11.02%
2021-09-24	90.5	10.84%
2021-09-23	90.1	10.89%
2021-09-22	90.2	10.85%
2021-09-17	90.5	10.82%
2021-09-16	89.2	10.95%
2021-09-15	89.7	11.00%
2021-09-14	90.1	10.99%
2021-09-13	90.3	10.98%
2021-09-10	91.2	11.01%
2021-09-09	90.4	10.94%
2021-09-08	88.2	11.09%
2021-09-07	90.0	11.14%
2021-09-06	90.0	11.12%
2021-09-03	91.0	11.06%
2021-09-02	89.9	11.33%
2021-09-01	92.3	11.18%
2021-08-31	92.5	11.12%
2021-08-30	93.3	11.12%
2021-08-27	90.2	11.38%
2021-08-26	90.0	11.46%
2021-08-25	91.4	11.58%
2021-08-24	90.1	11.52%
2021-08-23	90.6	11.50%
2021-08-20	89.1	11.47%
2021-08-19	89.2	11.47%
2021-08-18	89.7	11.65%
2021-08-17	89.2	11.69%
2021-08-16	89.2	11.71%
2021-08-13	89.3	11.70%
2021-08-12	90.3	11.92%
2021-08-11	88.8	12.04%
2021-08-10	91.0	11.35%
2021-08-09	92.1	11.40%
2021-08-06	93.5	10.98%
2021-08-05	94.8	10.86%
2021-08-04	95.7	10.90%
2021-08-03	96.4	10.91%
2021-08-02	96.7	10.90%
2021-07-30	97.3	10.92%
2021-07-29	97.5	11.03%
2021-07-28	98.0	10.59%
2021-07-27	99.5	10.57%
2021-07-26	102.0	12.30%
2021-07-23	109.0	12.42%
2021-07-22	108.0	12.10%
2021-07-21	109.0	12.00%
2021-07-20	104.5	11.57%
2021-07-19	107.5	12.95%
2021-07-16	109.5	12.99%
2021-07-15	108.5	11.81%
2021-07-14	108.5	12.75%
2021-07-13	102.5	10.58%
2021-07-12	103.0	10.55%
2021-07-09	100.5	10.49%
2021-07-08	102.5	10.54%
2021-07-07	103.0	10.85%
2021-07-06	103.5	11.02%
2021-07-05	104.0	10.99%
2021-07-02	102.0	11.20%
2021-07-01	103.5	11.70%
2021-06-30	106.5	11.32%
2021-06-29	106.5	10.64%
2021-06-28	102.0	9.71%
2021-06-25	99.2	9.37%
2021-06-24	97.8	9.09%
2021-06-23	98.8	8.97%
2021-06-22	96.4	8.95%
2021-06-21	96.8	9.02%
2021-06-18	99.9	8.93%
2021-06-17	99.0	8.88%
2021-06-16	99.4	8.99%
2021-06-15	99.1	9.09%
2021-06-11	99.5	9.05%
2021-06-10	100.5	8.75%
2021-06-09	98.0	8.66%
2021-06-08	97.4	8.74%
2021-06-07	96.5	8.92%
2021-06-04	98.3	8.86%
2021-06-03	100.0	8.90%
2021-06-02	97.5	8.67%
2021-06-01	96.4	9.31%
2021-05-31	96.9	9.30%
2021-05-28	94.8	9.22%
2021-05-27	94.7	9.23%
2021-05-26	92.5	9.18%
2021-05-25	93.1	9.27%
2021-05-24	93.2	8.98%