6438 迅得

EPS 年複合成長率: 9.7% (110-106)
營業利益年複合成長率: 16.84% (110-106)
本益比: 11.43
本益成長比: 0.679
總報酬本益比: 1.941
近四季EPS總合: 9.62 (2.21,2.91,2.85,2.56)
融資餘額佔股本比例：6.32%
融資使用率: 26.65%
近期收盤價: 110.0 (2022-05-19)
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
迅得	-5.0%	39.0%	22.0%
0050	-15.78%	3.82%	50.48%

現價	可能漲跌幅 1	合理價(本益比法)	一年後目標價	報酬率	可能漲跌幅 2	合理價(ROE法)
110.0	23.56%	135.92	156.31	42.1%	N/A	N/A

合理價(本益比法): 從 "一年後目標價" 回推得到
可能漲跌幅 1: "合理價(本益比法)" 和 "現價" 的差距
報酬率: 一年後可能的報酬率
可能漲跌幅 2: "合理價(ROE法)" 和 "現價" 的差距
推估價格僅供參考, Please Do Your Own Research

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	32.61	31.10	25.47	24.43	28.03	28.58	35.14	35.03	34.23
營業利益率	16.79	14.63	1.92	6.67	11.53	7.97	13.59	12.65	13.57
折舊負擔比率	0.77	1.09	1.31	0.37	0.37	0.66	0.63	0.67	0.85
稅前淨利率	17.03	14.90	1.77	6.84	11.72	7.48	13.17	13.41	14.14
股東權益報酬率	23.83	19.94	3.95	14.39	25.78	11.88	26.96	25.56	23.59
資產報酬率	12.09	9.39	2.39	6.76	10.49	5.31	12.01	11.09	11.29
本業收入比	98.56	98.22	107.55	97.28	98.18	106.25	103.18	94.33	96.02
業外獲益比	1.44	1.78	-7.55	2.33	1.56	-6.88	-3.18	5.67	3.98
無形資產佔淨值比	0.21	0.19	0.22	0.42	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

	22Q1	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2	18Q1
營業毛利率	32.06	33.87	32.80	31.44	32.19	31.45	28.89	35.59	27.65	24.22	19.87	28.96	27.78	26.99	22.03	22.04	27.57
營業利益率	15.12	18.04	16.84	17.26	14.59	19.37	12.18	18.20	6.04	-3.93	-2.81	5.30	6.58	3.71	9.12	5.46	8.30
稅前淨利率	16.17	18.14	17.51	17.02	15.02	19.32	13.00	17.83	6.88	-4.40	-1.98	4.98	5.89	3.88	9.91	6.00	7.25
本業收入比	93.50	99.57	95.88	101.44	97.40	100.52	93.16	102.61	86.67	91.30	140.00	106.82	110.64	94.29	91.26	90.00	115.25
業外獲益比	6.50	0.43	3.70	-1.44	2.60	-0.00	5.98	-1.96	11.11	8.70	-40.00	-6.82	-12.77	2.86	7.77	8.33	-15.25

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)	678	789	500	-104	-208	271	55	232	196
自由現金流量(百萬)	413	761	173	-295	-258	209	19	367	164
稅後淨利(百萬)	652	379	68	232	305	113	252	227	199

現金流量-近20季

	22Q1	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2	18Q1
營運現金流量(百萬)	-162	405	352	-14	-65	429	87	251	21	301	39	149	10	62	-65	64	-164
自由現金流量(百萬)	-156	189	337	-19	-94	420	98	251	-9	297	60	155	-339	-13	-70	-28	-183
稅後淨利(百萬)	154	187	186	158	121	141	84	121	34	-1	-5	38	36	38	88	72	34

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)	4906	3395	2968	3753	3281	2135	2382	2105	1774
營業利益(百萬)	823	497	57	250	378	170	324	266	241
稅後淨利(百萬)	652	379	68	232	305	113	252	227	199
EPS(完全稀釋)	9.50	5.85	1.07	4.03	5.98	2.43	5.41	5.13	4.49
營收成長率(%)	44.51	14.39	-20.92	14.39	53.68	-10.37	13.16	18.66	N/A
營業利益成長率(%)	65.59	771.93	-77.20	-33.86	122.35	-47.53	21.80	10.37	N/A
稅後淨利成長率(%)	72.03	457.35	-70.69	-23.93	169.91	-55.16	11.01	14.07	N/A
EPS成長率(%)	62.39	446.73	-73.45	-32.61	146.09	-55.08	5.46	14.25	N/A

成長能力-近20季

	22Q1	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2	18Q1
營收(百萬)	1240	1274	1386	1220	1027	991	897	861	647	529	759	884	796	902	1036	996	819
營業利益(百萬)	187	230	233	211	150	192	109	157	39	-21	-21	47	52	33	94	54	68
稅後淨利(百萬)	154	187	186	158	121	141	84	121	34	-1	-5	38	36	38	88	72	34
EPS(完全稀釋)	2.21	2.91	2.85	2.56	2.00	2.36	1.40	2.03	0.57	-0.01	-0.09	0.66	0.62	0.66	1.52	1.25	0.61
去年同期營收成長率(%)	20.74	28.56	54.52	41.70	58.73	87.33	18.18	-2.60	-18.72	-41.35	-26.74	-11.24	-2.81	0.00	0.00	0.00	-
去年同期營業利益成長率(%)	24.67	19.79	113.76	34.39	284.62	1014.29	619.05	234.04	-25.00	-163.64	-122.34	-12.96	-23.53	0.00	0.00	0.00	-
去年同期稅後淨利成長率(%)	27.27	32.62	121.43	30.58	255.88	14200.00	1780.00	218.42	-5.56	-102.63	-105.68	-47.22	5.88	0.00	0.00	0.00	-
去年同期EPS成長率(%)	10.50	23.31	103.57	26.11	250.88	23700.00	1655.56	207.58	-8.06	-101.52	-105.92	-47.20	1.64	0.00	0.00	0.00	-
較上季營收成長率(%)	-2.67	-8.08	13.61	18.79	3.63	10.48	4.18	33.08	22.31	-30.30	-14.14	11.06	-11.75	-12.93	4.02	21.61	0.00
較上季營業利益成長率(%)	-18.70	-1.29	10.43	40.67	-21.88	76.15	-30.57	302.56	285.71	0.00	-144.68	-9.62	57.58	-64.89	74.07	-20.59	0.00
較上季稅後淨利成長率(%)	-17.65	0.54	17.72	30.58	-14.18	67.86	-30.58	255.88	3500.00	80.00	-113.16	5.56	-5.26	-56.82	22.22	111.76	0.00
較上季EPS成長率(%)	-24.05	2.11	11.33	28.00	-15.25	68.57	-31.03	256.14	5800.00	88.89	-113.64	6.45	-6.06	-56.58	21.60	104.92	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	-9.48	19.05	20.28	2019/12	24.82	-14.44	-20.9
2022/3	33.71	10.0	20.7	2019/11	69.32	-37.7	-21.41
2022/1~2	-20.95	28.06	28.05	2019/10	-42.88	-66.26	-19.86
2021/12	3.64	32.8	44.49	2019/9	6.24	-47.42	-14.52
2021/11	-3.24	15.24	45.72	2019/8	-52.16	-39.84	-9.64
2021/10	-7.33	39.64	49.77	2019/7	-1.0	4.6	-5.22
2021/9	9.94	26.27	51.06	2019/6	46.53	3.27	-7.2
2021/8	-16.16	41.49	55.52	2019/5	11.12	-17.41	-9.92
2021/7	2.59	115.48	57.92	2019/4	-14.03	-21.2	-7.79
2021/6	28.59	86.64	49.03	2019/3	8.77	-2.07	-3.43
2021/5	8.76	27.73	41.11	2019/1~2	-5.7	-4.14	-4.14
2021/4	-16.36	16.41	45.31	2018/12	-9.11	-21.6	14.08
2021/3	58.15	31.18	58.74	2018/11	-8.31	12.85	18.31
2021/1~2	-23.15	85.54	85.53	2018/10	-10.97	10.54	18.85
2020/12	-10.06	38.47	14.35	2018/9	21.55	5.5	20.39
2020/11	17.24	92.18	12.29	2018/8	-16.8	-3.07	22.97
2020/10	-16.21	177.54	6.42	2018/7	-2.26	19.93	27.44
2020/9	23.19	89.18	-1.34	2018/6	17.17	39.78	29.38
2020/8	27.67	63.14	-9.16	2018/5	6.02	21.76	26.93
2020/7	-11.13	-38.86	-15.55	2018/4	6.84	3.89	28.49
2020/6	-11.99	-31.9	-10.27	2018/3	7.81	14.73	40.62
2020/5	-0.87	13.38	-3.84	2018/1~2	-7.95	59.19	59.19
2020/4	-5.75	27.11	-8.22	2017/12	30.84	56.85	54.63
2020/3	112.31	15.95	-18.72	2017/11	-10.19	123.34	54.37
2020/1~2	-15.56	-37.03	-37.02	2017/10	-15.03	69.48	49.48

稅前淨利較去年同期

2022Q1(百萬)	2021Q1(百萬)	YoY(%)
200.0	154.0	29.870
2021Q4(百萬)	2020Q4(百萬)	YoY(%)
231.0	191.0	20.942
2021Q3(百萬)	2020Q3(百萬)	YoY(%)
243.0	117.0	107.69

EPS較上季

2022Q1(元)	2021Q4(元)	比率
2.21	2.91	-0.240

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	4.32	2.86	2.11	2.39	2.76	2.50	2.98	2.58	2.30
存貨周轉率	2.66	2.92	2.98	2.90	2.80	2.51	2.77	2.70	2.68

應收帳周轉率和存貨周轉率-近20季

	22Q1	21Q4	21Q3
應收帳款周轉率	1.13	1.19	1.09
存貨周轉率	0.53	0.61	0.70

償債能力-近10年

	2021	2020	2019	2018	2017	2016	2015	2014	2013
負債比	0.46	0.55	0.54	0.54	0.59	0.62	0.54	0.59	0.55
金融負債(百萬)	284	704	503	664	383	302	237	242	153
營收淨額(百萬)	4906	3395	2968	3753	3281	2135	2382	2105	1774
利息保障倍數	75.33	33.62	3.02	13.30	54.31	19.01	40.05	49.32	101.30
長期銀行借款占稅後淨利比	0.12	0.25	3.21	0.31	0.05	0.16	0.08	0.11	0.13

成本指標-近10年

	2021	2020	2019	2018	2017	2016	2015	2014	2013
營收淨額(百萬)	4906	3395	2968	3753	3281	2135	2382	2105	1774
推銷費用(百萬)	124	108	118	150	125	125	198	192	161
管理費用(百萬)	354	277	209	233	224	164	181	171	131
研發費(百萬)	315	252	254	236	193	151	135	109	75
推銷費用率(%)	2.53	3.18	3.98	4.00	3.81	5.85	8.31	9.12	9.08
管理費用率(%)	7.22	8.16	7.04	6.21	6.83	7.68	7.60	8.12	7.38
研發費用率(%)	6.42	7.42	8.56	6.29	5.88	7.07	5.67	5.18	4.23

成本指標-近20季

	22Q1	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2	18Q1
營收淨額(百萬)	1240	1274	1386	1220	1027	991	897	861	647	529	759	884	796	902	1036	996	819
推銷費用(百萬)	40	32	31	31	29	29	28	27	24	30	30	30	27	54	30	34	33
管理費用(百萬)	66	63	136	87	68	79	74	62	62	45	49	58	57	54	59	57	63
研發費(百萬)	80	99	75	66	74	69	59	65	59	68	63	58	65	63	61	60	51
推銷費用率(%)	3.23	2.51	2.24	2.54	2.82	2.93	3.12	3.14	3.71	5.67	3.95	3.39	3.39	5.99	2.90	3.41	4.03
管理費用率(%)	5.32	4.95	9.81	7.13	6.62	7.97	8.25	7.20	9.58	8.51	6.46	6.56	7.16	5.99	5.69	5.72	7.69
研發費用率(%)	6.45	7.77	5.41	5.41	7.21	6.96	6.58	7.55	9.12	12.85	8.30	6.56	8.17	6.98	5.89	6.02	6.23

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
6438-迅得	X	X	X	X	O	O	O	X	O	O
	1年	7.11億	89.55%	51.37%	0.0%	248.80%	581百萬	18.88%

融資使用率

日期	股價	融資使用率
2022-05-19 -	110.0	26.65%
2022-05-18	109.0	26.45%
2022-05-17	109.0	26.38%
2022-05-16	108.0	26.45%
2022-05-13	107.0	26.84%
2022-05-12	105.0	26.89%
2022-05-11	105.5	27.13%
2022-05-10	107.0	27.15%
2022-05-09	104.0	27.49%
2022-05-06	106.5	27.47%
2022-05-05	108.0	27.55%
2022-05-04	108.0	27.28%
2022-05-03	107.0	27.13%
2022-04-29	107.0	27.09%
2022-04-28	106.5	27.15%
2022-04-27	107.0	27.21%
2022-04-26	108.5	27.47%
2022-04-25	104.5	27.77%
2022-04-22	110.0	32.14%
2022-04-21	114.0	32.78%
2022-04-20	114.5	32.73%
2022-04-19	113.5	33.04%
2022-04-18	113.0	33.02%
2022-04-15	114.0	32.95%
2022-04-14	116.0	33.00%
2022-04-13	117.5	32.82%
2022-04-12	116.0	32.72%
2022-04-11	115.0	33.03%
2022-04-08	119.5	32.68%
2022-04-07	117.0	32.77%
2022-04-06	121.5	33.16%
2022-04-01	123.0	32.85%
2022-03-31	122.0	32.65%
2022-03-30	124.5	32.24%
2022-03-29	123.5	32.33%
2022-03-28	124.5	31.53%
2022-03-25	123.5	31.94%
2022-03-24	130.0	32.67%
2022-03-23	126.5	32.20%
2022-03-22	127.5	33.33%
2022-03-21	127.0	36.27%
2022-03-18	125.0	32.92%
2022-03-17	122.0	33.41%
2022-03-16	115.5	34.86%
2022-03-15	115.0	34.92%
2022-03-14	119.5	35.26%
2022-03-11	120.5	34.58%
2022-03-10	119.5	34.40%
2022-03-09	117.0	34.80%
2022-03-08	112.5	34.71%
2022-03-07	114.5	34.61%
2022-03-04	118.5	35.13%
2022-03-03	121.0	35.76%
2022-03-02	120.5	35.74%
2022-03-01	118.0	35.08%
2022-02-25	113.0	37.53%
2022-02-24	112.5	37.87%
2022-02-23	117.0	38.11%
2022-02-22	114.5	39.42%
2022-02-21	115.0	38.75%
2022-02-18	117.0	39.68%
2022-02-17	118.0	39.23%
2022-02-16	117.0	39.14%
2022-02-15	116.0	39.26%
2022-02-14	116.5	38.87%
2022-02-11	118.5	39.79%
2022-02-10	122.0	39.94%
2022-02-09	122.5	39.23%
2022-02-08	123.0	40.01%
2022-02-07	120.5	40.56%
2022-01-26	113.5	42.02%
2022-01-25	113.0	42.51%
2022-01-24	119.0	43.35%
2022-01-21	118.0	42.72%
2022-01-20	127.0	42.34%
2022-01-19	124.0	40.63%
2022-01-18	124.0	41.06%
2022-01-17	123.0	39.52%
2022-01-14	115.5	39.62%
2022-01-13	118.5	39.89%
2022-01-12	126.5	38.17%
2022-01-11	117.0	37.28%
2022-01-10	115.5	41.11%
2022-01-07	110.5	42.89%
2022-01-06	116.0	44.90%
2022-01-05	116.5	43.56%
2022-01-04	118.5	44.82%
2022-01-03	115.5	45.22%
2021-12-30	115.5	44.46%
2021-12-29	113.0	42.11%
2021-12-28	108.5	42.06%
2021-12-27	109.0	41.83%
2021-12-24	107.5	41.88%
2021-12-23	108.5	41.71%
2021-12-22	109.5	41.01%
2021-12-21	104.5	40.69%
2021-12-20	104.0	40.48%
2021-12-17	103.5	40.77%
2021-12-16	106.0	40.80%
2021-12-15	105.0	40.40%
2021-12-14	104.0	40.68%
2021-12-13	106.5	41.55%
2021-12-10	106.5	41.56%
2021-12-09	107.5	41.13%
2021-12-08	110.0	41.87%
2021-12-07	110.0	42.54%
2021-12-06	112.5	43.29%
2021-12-03	113.5	43.47%
2021-12-02	112.5	43.54%
2021-12-01	115.0	42.64%
2021-11-30	113.0	42.66%
2021-11-29	109.0	43.29%
2021-11-26	111.0	43.49%
2021-11-25	112.0	44.62%
2021-11-24	113.5	45.36%
2021-11-23	113.5	44.97%
2021-11-22	119.0	44.48%
2021-11-19	116.0	42.39%
2021-11-18	112.5	40.64%
2021-11-17	113.0	41.57%
2021-11-16	116.0	44.12%
2021-11-15	113.5	42.06%
2021-11-12	105.0	39.29%
2021-11-11	102.5	39.20%
2021-11-10	103.5	39.10%
2021-11-09	102.0	38.53%
2021-11-08	100.5	38.58%
2021-11-05	102.0	38.39%
2021-11-04	100.0	38.34%
2021-11-03	100.5	38.40%
2021-11-02	99.8	38.75%
2021-11-01	102.0	38.53%
2021-10-29	101.0	39.09%
2021-10-28	99.7	38.97%
2021-10-27	100.5	38.93%
2021-10-26	99.4	38.83%
2021-10-25	99.4	38.62%
2021-10-22	99.8	38.24%
2021-10-21	101.0	38.20%
2021-10-20	101.0	38.10%
2021-10-19	100.0	38.16%
2021-10-18	98.8	38.45%
2021-10-15	98.5	38.50%
2021-10-14	94.5	38.66%
2021-10-13	94.7	39.47%
2021-10-12	97.9	39.58%
2021-10-08	99.1	39.55%
2021-10-07	99.6	39.73%
2021-10-06	97.3	39.85%
2021-10-05	98.8	40.07%
2021-10-04	97.2	40.21%
2021-10-01	96.9	40.24%
2021-09-30	101.0	41.77%
2021-09-29	100.5	42.33%
2021-09-28	103.0	42.51%
2021-09-27	106.0	42.53%
2021-09-24	100.0	41.95%
2021-09-23	101.0	41.85%
2021-09-22	98.2	42.01%
2021-09-17	100.0	42.31%
2021-09-16	99.8	42.26%
2021-09-15	99.8	42.25%
2021-09-14	100.5	42.46%
2021-09-13	101.5	43.26%
2021-09-10	103.0	43.08%
2021-09-09	103.0	43.21%
2021-09-08	100.5	42.95%
2021-09-07	104.0	45.14%
2021-09-06	106.0	46.46%
2021-09-03	110.0	46.58%
2021-09-02	113.0	46.93%
2021-09-01	116.0	46.42%
2021-08-31	111.5	45.89%
2021-08-30	114.0	46.44%
2021-08-27	112.5	46.52%
2021-08-26	113.0	45.95%
2021-08-25	116.5	45.62%
2021-08-24	115.5	42.94%
2021-08-23	117.5	42.06%
2021-08-20	114.5	41.66%
2021-08-19	114.0	41.23%
2021-08-18	114.0	40.27%
2021-08-17	104.5	39.78%
2021-08-16	110.5	39.73%
2021-08-13	106.5	39.57%
2021-08-12	114.5	44.00%
2021-08-11	119.5	42.85%
2021-08-10	122.0	41.49%
2021-08-09	117.5	38.32%
2021-08-06	115.0	34.87%
2021-08-05	114.5	34.92%
2021-08-04	114.5	33.38%
2021-08-03	110.5	33.51%
2021-08-02	108.0	32.29%
2021-07-30	106.5	32.74%
2021-07-29	106.5	33.01%
2021-07-28	104.5	33.29%
2021-07-27	110.0	32.54%
2021-07-26	111.5	31.57%
2021-07-23	106.5	32.05%
2021-07-22	106.5	32.10%
2021-07-21	105.0	31.36%
2021-07-20	108.0	30.49%
2021-07-19	110.5	30.06%
2021-07-16	113.0	29.37%
2021-07-15	114.0	29.19%
2021-07-14	112.5	28.79%
2021-07-13	108.5	28.88%
2021-07-12	112.5	27.27%
2021-07-09	114.5	25.05%
2021-07-08	114.5	26.74%
2021-07-07	115.0	26.81%
2021-07-06	114.0	28.29%
2021-07-05	111.5	29.55%
2021-07-02	102.0	29.04%
2021-07-01	100.0	29.37%
2021-06-30	101.5	29.85%
2021-06-29	103.5	29.25%
2021-06-28	103.0	28.67%
2021-06-25	101.0	28.58%
2021-06-24	101.0	28.50%
2021-06-23	101.0	28.31%
2021-06-22	99.6	29.01%
2021-06-21	100.0	28.27%
2021-06-18	100.0	28.11%
2021-06-17	102.5	28.20%
2021-06-16	97.8	28.62%
2021-06-15	98.6	28.94%
2021-06-11	97.8	29.02%
2021-06-10	97.4	29.39%
2021-06-09	97.0	29.48%
2021-06-08	96.3	29.00%
2021-06-07	96.3	29.12%
2021-06-04	95.3	28.88%
2021-06-03	98.6	28.69%
2021-06-02	95.0	28.34%
2021-06-01	95.9	28.75%
2021-05-31	94.0	28.44%
2021-05-28	92.4	29.21%
2021-05-27	91.9	29.40%