華航 2610 - 目標價 - 合理價 - 個股融資使用率 - 財務分析

2610 華航 (上市) - 交通運輸及航運

599.35億股本

1312.59億市值

21.9 收盤價 (08-15)

24027張 -6.82% 成交量 (08-15)

9.24 本益比 (河流圖)

6.75 預估本益比

31.95 52周高點 (2022-02-18)

15.4 52周低點 (2021-09-09)

2.8% 融資餘額佔股本

11.18% 融資使用率

0.09 本益成長比

11.43 總報酬本益比

35.64~43.56% 預估今年成長率

96.46~117.9% 預估5年年化成長率

-5.134 本業收入比(5年平均)

1.84 淨值比

0.4% 單日周轉率(>10%留意)

2.4% 5日周轉率(>30%留意)

1.77 市值淨值比

20.84 每股清算價值

近8季毛利率↗ : 4.52, 13.88, 5.99, 9.65, 16.15, 28.17, 14.77, 7.32 近8季營益率↗ : -1.34, 9.29, -1.69, 4.11, 11.56, 21.72, 9.74, 2.61 近8季營收↗ : 26612, 29766, 27828, 29373, 34474, 47167, 37233, 36852 近8季EPS↗ : -0.13, 0.4, -0.19, -0.06, 0.51, 1.39, 0.52, 0.07

近3年毛利率↗ : 9.91, 8.87, 16.82 近3年營益率↗ : 1.58, 1.9, 10.78 近3年營收↘ : 168444, 115251, 138841 近3年EPS↗ : -0.22, 0.03, 1.54

股價相對強度

	5日	10日	20日	60日	120日	240日
華航	0.23%	1.62%	-7.2%	-15.28%	-23.02%	28.45%
加權指數	2.44%	4.54%	4.92%	-4.57%	-14.2%	-10.42%

股價漲跌幅

	過去5年漲跌幅	2022	2021	2020	2019	2018
華航	196.88%	-17.0%	135.0%	-1.0%	-17.0%	-8.0%
0050	102.36%	-17.49%	3.82%	50.48%	14.17%	-5.71%

現價	可能漲跌幅 1	合理價 1	一年後目標價	報酬率 1	可能漲跌幅 2	合理價 2	五年後目標價	報酬率 2	可能漲跌幅 3	合理價 3
21.9	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

本業收入比小於0.7, 不做估算
合理價 1: 本益比法, 從 "一年後目標價" 回推得到; 合理價 2: 本益比法, 從 "五年後目標價" 回推得到
可能漲跌幅 1: "合理價 1" 和 "現價" 的差距; 可能漲跌幅 2: "合理價 2" 和 "現價" 的差距
報酬率 1: 一年後可能的報酬率; 報酬率 2: 五年可能年化報酬率
合理價 3: ROE 法
可能漲跌幅 3: "合理價 3" 和 "現價" 的差距
本益比法估值不適用於景氣循環股
推估算法可參考:本益比法估算股票合理價格, ROE 法估算股票合理價格
推估價格是根據過往財報及預測未來的成長率, 存在太多不確定性故價格僅能做為參考

	本益比	股價(樂觀成長率)	現價差距(%)	股價(保守成長率)	現價差距(%)		殖利率	股價(樂觀成長率)	現價差距(%)	股價(保守成長率)	現價差距(%)		淨值比	股價	現價差距(%)
最高價本益比	34.36	111.41	408.72	103.65	373.29	最低殖利率	2.52%	70.95	223.97	66.01	201.42	最高淨值比	1.27	15.12	-30.96
最低價本益比	23.13	74.99	242.42	69.77	218.58	最高殖利率	4.32%	41.4	89.04	38.52	75.89	最低淨值比	0.9	10.71	-51.1

最高價本益比是採用歷年最高價本益比的中位數, 最低價本益比是採用歷年最低價本益比的中位數
最高價殖利率是採用歷年最高價殖利率的中位數, 最低價殖利率是採用歷年最低價殖利率的中位數
最高價淨值比是採用歷年最高價淨值比的中位數, 最低價淨值比是採用歷年最低價淨值比的中位數
本益比估值, 殖利率估值不適用於景氣循環股及歷史本益比起伏太大的股票
淨值估值適用於營建股, 景氣循環股及虧損的公司
推估價格是根據過往財報及預測未來的成長率, 存在太多不確定性故價格僅能做為參考

歷史本益比, 殖利率, 淨值區間

年度	最高價	最低價	EPS	最高本益比	最低本益比	現金股利	最低殖利率	最高殖利率	最高淨值比	最低淨值比
111	31.95	20.35	3.24	9.85	6.28	1.79	5.6%	8.79%	2.87	1.64
110	31.15	9.97	1.54	20.23	6.47	0.83	2.66%	8.32%	2.72	0.99
109	13.15	5.5	0.03	438.33	183.33	N/A	N/A	N/A	1.27	0.53
108	11.25	9.0	-0.22	N/A	N/A	N/A	N/A	N/A	1.06	0.86
107	12.9	8.97	0.32	40.31	28.03	0.21	1.63%	2.34%	1.23	0.87
106	13.4	9.02	0.39	34.36	23.13	0.22	1.64%	2.44%	1.36	0.9
105	12.05	9.07	0.1	120.5	90.7	N/A	N/A	N/A	1.18	1.18
104	18.25	10.65	1.0	18.25	10.65	0.46	2.52%	4.32%	N/A	N/A

今年的 EPS, 現金股利為預估值

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
✔	✔			✔	✔	✔		✔	✔
29年	599.35億	63.68%	73.95%	0.0%	63.59%	50770百萬	1.76%

沒通過財務健檢5指標	2021	2020	2019	2018	2017
營業利益率	10.78	1.9	1.58	2.36	5.65
ROE	12.99	-0.46	-1.12	3.81	4.26
本業收入比	134.52	-333.94	-2748.45	130.54	250.45
自由現金流量(億)	332.2	-153.25	214.74	67.47	27.55
利息保障倍數	5.62	0.79	0.97	3.23	3.62

ROE大於8%, 營業利益率為正數, 本業收入比重大於 80%
自由現金流量為正數, 利息保障倍數超過 10倍, 5年內3年達標

稅前淨利較去年同期

2022Q2(億)	2021Q2(億)	YoY(%)
4.28	-5.5	N/A
2022Q1(億)	2021Q1(億)	YoY(%)
35.52	-13.32	N/A
2021Q4(億)	2020Q4(億)	YoY(%)
98.57	19.06	417.16

EPS較上季 - 漲很多的股票要留意 EPS 較上季是否有大幅衰退的情況

2022Q2(元)	2022Q1(元)	比率
0.07	0.52	-0.865

技術線型大股東持有率大戶籌碼三大法人持股董監持股明細財報 (5/15, 8/14, 11/14, 3/31) 法說會 (公司未來展望) 華航公告華航新聞

經營理念會計師報告 (無保留意見，修正式保留意見為佳，保留意見出現在第4季財報可能有問題) 財經百科 - 營業項目,營收比重大陸地區投資股本形成 (注意近年現金增資的頻率，股本的膨脹率是否小於稅後淨利的成長率) 董監持股比例 (董監持股比例理想越高越好，但是股本越大的公司勢必會被稀釋) 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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融資使用率

日期	股價	成交量(張)	成交量日增率	融資使用率	融資使用率日增率	日周轉率	5日周轉率	20日周轉率
2022-08-15	21.9	24027	-6.82%	11.18%	0.63%	0.4%	2.4%	14.41%
2022-08-12	22.05	25786	-20.07%	11.11%	-3.14%	0.43%	2.42%	15.06%
2022-08-11	21.95	32260	-3.67%	11.47%	0.7%	0.54%	2.68%	15.49%
2022-08-10	21.8	33488	16.17%	11.39%	0.0%	0.56%	3.47%	15.81%
2022-08-09	21.85	28826	13.24%	11.39%	0.0%	0.48%	4.14%	17.39%
2022-08-08	21.7	25456	-37.81%	11.39%	-1.21%	0.42%	4.93%	17.88%
2022-08-05	21.75	40936	-48.73%	11.53%	-0.35%	0.68%	5.05%	18.1%
2022-08-04	21.05	79837	8.37%	11.57%	-0.69%	1.33%	4.93%	18.74%
2022-08-03	21.05	73667	-3.8%	11.65%	-8.41%	1.23%	4.18%	18.32%
2022-08-02	21.55	76574	136.4%	12.72%	1.19%	1.27%	3.45%	18.21%
2022-08-01	22.4	32392	-1.22%	12.57%	0.16%	0.54%	2.76%	18.33%
2022-07-29	22.6	32791	-6.08%	12.55%	0.72%	0.55%	2.77%	18.86%
2022-07-28	22.7	34915	16.35%	12.46%	0.08%	0.58%	2.78%	19.71%
2022-07-27	23.1	30009	-14.97%	12.45%	-1.11%	0.5%	2.83%	20.31%
2022-07-26	22.65	35291	7.33%	12.59%	0.0%	0.59%	3.59%	20.72%
2022-07-25	22.8	32881	-1.36%	12.59%	0.16%	0.55%	4.29%	20.75%
2022-07-22	23.2	33334	-12.43%	12.57%	0.72%	0.56%	4.79%	21.2%
2022-07-21	23.3	38066	-49.52%	12.48%	1.22%	0.64%	5.1%	21.61%
2022-07-20	23.25	75413	-2.9%	12.33%	0.33%	1.26%	5.32%	23.1%
2022-07-19	23.6	77667	23.49%	12.29%	-0.24%	1.3%	6.21%	24.01%
2022-07-18	23.2	62895	21.58%	12.32%	-0.88%	1.05%	5.88%	24.8%
2022-07-15	22.65	51729	1.06%	12.43%	1.8%	0.86%	5.47%	25.28%
2022-07-14	23.15	51185	-60.22%	12.21%	0.58%	0.85%	5.93%	27.43%
2022-07-13	23.15	128683	122.1%	12.14%	-0.25%	2.15%	5.99%	27.81%
2022-07-12	22.25	57939	50.36%	12.17%	2.27%	0.97%	4.96%	26.56%
2022-07-11	23.25	38534	-51.4%	11.9%	0.42%	0.64%	5.39%	26.92%
2022-07-08	23.25	79290	45.14%	11.85%	-1.41%	1.32%	5.82%	27.53%
2022-07-07	22.8	54628	-18.44%	12.02%	-0.74%	0.91%	5.9%	27.49%
2022-07-06	22.35	66983	-20.0%	12.11%	2.54%	1.12%	6.17%	27.16%
2022-07-05	23.35	83734	30.05%	11.81%	-1.5%	1.4%	5.97%	26.6%
2022-07-04	22.45	64386	-23.08%	11.99%	-0.75%	1.07%	5.18%	25.9%
2022-07-01	22.0	83704	17.62%	12.08%	-3.75%	1.4%	5.11%	25.66%
2022-06-30	23.5	71166	30.38%	12.55%	0.16%	1.19%	4.68%	25.95%
2022-06-29	23.6	54581	48.22%	12.53%	0.56%	0.91%	5.62%	25.79%
2022-06-28	23.2	36825	-38.36%	12.46%	-0.32%	0.61%	6.87%	29.93%
2022-06-27	23.3	59744	2.79%	12.5%	-2.95%	1.0%	8.34%	31.1%
2022-06-24	22.35	58121	-54.37%	12.88%	-0.54%	0.97%	8.87%	31.07%
2022-06-23	22.15	127368	-1.95%	12.95%	0.78%	2.13%	10.92%	31.49%
2022-06-22	23.5	129905	4.09%	12.85%	3.96%	2.17%	10.03%	30.77%
2022-06-21	24.0	124801	36.18%	12.36%	-0.08%	2.08%	8.76%	29.51%
2022-06-20	22.25	91646	-49.28%	12.37%	-3.28%	1.53%	8.0%	28.92%
2022-06-17	23.35	180694	144.09%	12.79%	-1.01%	3.01%	7.73%	28.41%
2022-06-16	24.5	74029	37.36%	12.92%	-0.08%	1.24%	6.0%	27.62%
2022-06-15	25.05	53895	-31.9%	12.93%	0.23%	0.9%	5.34%	27.51%
2022-06-14	25.3	79141	4.63%	12.9%	-0.15%	1.32%	5.0%	27.87%
2022-06-13	25.5	75642	-1.35%	12.92%	0.94%	1.26%	4.37%	27.8%
2022-06-10	25.95	76680	119.46%	12.8%	-0.23%	1.28%	3.95%	28.89%
2022-06-09	26.65	34941	5.24%	12.83%	-0.16%	0.58%	4.36%	32.81%
2022-06-08	26.8	33202	-20.07%	12.85%	-0.08%	0.55%	4.8%	33.57%
2022-06-07	26.8	41538	-17.09%	12.86%	-1.15%	0.69%	9.3%	34.73%
2022-06-06	27.05	50102	-50.61%	13.01%	0.08%	0.84%	10.39%	35.62%
2022-06-02	27.4	101441	64.43%	13.0%	-0.23%	1.69%	10.52%	35.89%
2022-06-01	26.95	61692	-79.6%	13.03%	1.01%	1.03%	10.22%	35.98%
2022-05-31	27.1	302421	182.52%	12.9%	-1.0%	5.05%	10.59%	36.7%
2022-05-30	26.8	107044	84.85%	13.03%	-0.84%	1.79%	6.45%	33.16%
2022-05-27	26.1	57908	-30.44%	13.14%	0.46%	0.97%	6.16%	33.46%
2022-05-26	25.9	83249	-1.17%	13.08%	0.69%	1.39%	6.21%	33.89%
2022-05-25	26.4	84235	54.78%	12.99%	-1.14%	1.41%	7.04%	34.86%
2022-05-24	25.55	54422	-39.04%	13.14%	-1.28%	0.91%	6.77%	37.06%
2022-05-23	25.85	89274	45.78%	13.31%	0.08%	1.49%	7.12%	39.85%
2022-05-20	25.1	61241	-53.98%	13.3%	-1.19%	1.02%	6.88%	42.4%
2022-05-19	24.85	133066	96.09%	13.46%	0.52%	2.22%	8.21%	45.8%
2022-05-18	25.35	67859	-9.55%	13.39%	-1.9%	1.13%	11.19%	50.11%
2022-05-17	24.95	75021	-0.49%	13.65%	1.56%	1.25%	11.4%	53.12%
2022-05-16	25.3	75394	-46.48%	13.44%	-1.18%	1.26%	11.87%	54.55%
2022-05-13	25.3	140863	-54.78%	13.6%	-0.29%	2.35%	12.19%	56.63%
2022-05-12	24.55	311477	287.89%	13.64%	-7.59%	5.2%	10.94%	60.4%
2022-05-11	27.1	80299	-22.19%	14.76%	-3.34%	1.34%	7.53%	62.12%
2022-05-10	27.85	103193	8.94%	15.27%	0.39%	1.72%	7.94%	63.44%
2022-05-09	27.9	94724	43.17%	15.21%	0.2%	1.58%	7.72%	63.01%
2022-05-06	28.35	66161	-38.0%	15.18%	-0.85%	1.1%	8.0%	62.77%
2022-05-05	28.65	106710	1.61%	15.31%	2.13%	1.78%	8.3%	63.46%
2022-05-04	28.75	105022	16.25%	14.99%	1.08%	1.75%	8.87%	63.27%
2022-05-03	28.05	90340	-15.74%	14.83%	0.47%	1.51%	10.72%	63.51%
2022-04-29	27.85	107220	27.71%	14.76%	1.17%	1.8%	12.91%	64.49%
2022-04-28	27.4	83958	-40.34%	14.59%	-1.22%	1.41%	15.16%	65.13%
2022-04-27	27.75	140735	-34.44%	14.77%	-4.09%	2.37%	18.17%	67.42%
2022-04-26	28.2	214671	-2.6%	15.4%	-3.87%	3.61%	22.35%	67.07%
2022-04-25	29.3	220412	-8.51%	16.02%	-4.64%	3.71%	22.89%	65.38%
2022-04-22	29.85	240910	-8.32%	16.8%	-1.81%	4.05%	21.87%	63.16%
2022-04-21	29.75	262766	-32.49%	17.11%	5.68%	4.42%	21.17%	60.63%
2022-04-20	28.9	389208	57.63%	16.19%	-1.22%	6.55%	22.89%	58.92%
2022-04-19	28.9	246907	54.54%	16.39%	1.36%	4.16%	23.3%	54.37%
2022-04-18	27.15	159766	-19.84%	16.17%	-2.71%	2.69%	21.81%	54.09%
2022-04-15	28.5	199312	-45.32%	16.62%	3.55%	3.35%	20.43%	58.61%
2022-04-14	28.85	364525	-11.92%	16.05%	2.82%	6.14%	18.43%	60.24%
2022-04-13	28.2	413875	161.32%	15.61%	2.56%	6.97%	14.1%	57.05%
2022-04-12	27.35	158380	103.3%	15.22%	-0.33%	2.67%	8.75%	51.97%
2022-04-11	26.75	77904	-3.17%	15.27%	-0.13%	1.31%	8.08%	51.29%
2022-04-08	27.1	80456	-24.93%	15.29%	-0.2%	1.35%	9.28%	54.23%
2022-04-07	26.55	107177	11.98%	15.32%	-2.42%	1.8%	10.36%	56.25%
2022-04-06	27.7	95707	-19.57%	15.7%	-1.57%	1.61%	12.26%	59.6%
2022-04-01	27.2	118999	-20.04%	15.95%	0.31%	2.0%	12.67%	61.83%
2022-03-31	26.65	148832	2.67%	15.9%	0.57%	2.51%	12.59%	63.72%
2022-03-30	27.1	144968	-34.05%	15.81%	-5.95%	2.44%	11.58%	65.43%
2022-03-29	27.3	219816	82.64%	16.81%	4.67%	3.7%	10.66%	66.35%
2022-03-28	27.15	120354	5.6%	16.06%	-1.41%	2.03%	9.68%	65.99%
2022-03-25	26.35	113973	28.47%	16.29%	-2.22%	1.92%	9.65%	71.66%
2022-03-24	26.85	88714	-1.78%	16.66%	-0.42%	1.49%	11.6%	77.82%
2022-03-23	27.5	90325	-44.1%	16.73%	-1.24%	1.52%	17.32%	82.37%
2022-03-22	27.0	161586	35.98%	16.94%	-2.81%	2.72%	20.78%	88.53%
2022-03-21	28.05	118827	-48.3%	17.43%	-0.46%	2.0%	21.01%	94.67%
2022-03-18	28.6	229819	-46.35%	17.51%	-0.17%	3.87%	20.9%	105.95%
2022-03-17	29.2	428366	44.66%	17.54%	7.74%	7.21%	19.01%	118.57%
2022-03-16	27.55	296126	68.99%	16.28%	-1.39%	4.98%	16.06%	119.62%
2022-03-15	26.3	175236	56.15%	16.51%	5.03%	2.95%	14.45%	123.24%
2022-03-14	26.5	112225	-4.64%	15.72%	-0.51%	1.89%	16.65%	123.43%
2022-03-11	26.95	117689	-53.46%	15.8%	-3.95%	1.98%	18.61%	125.68%
2022-03-10	26.7	252880	26.22%	16.45%	0.24%	4.26%	20.52%	127.45%
2022-03-09	25.65	200341	-34.58%	16.41%	-1.56%	3.37%	20.48%	127.47%
2022-03-08	24.5	306239	34.12%	16.67%	-9.55%	5.15%	20.46%	129.79%
2022-03-07	26.5	228327	-1.29%	18.43%	-7.25%	3.84%	18.64%	128.3%
2022-03-04	28.35	231315	-7.6%	19.87%	1.12%	3.89%	20.78%	125.53%
2022-03-03	28.4	250345	25.55%	19.65%	5.59%	4.21%	24.89%	123.06%
2022-03-02	27.7	199395	0.57%	18.61%	-2.46%	3.36%	26.63%	121.23%
2022-03-01	28.05	198271	-36.76%	19.08%	-1.5%	3.34%	30.89%	119.66%
2022-02-25	27.9	313537	-32.93%	19.37%	-0.36%	5.46%	36.39%	118.2%
2022-02-24	27.95	467494	33.57%	19.44%	-6.18%	8.14%	44.28%	115.38%
2022-02-23	30.3	350000	-21.13%	20.72%	5.82%	6.1%	52.76%	108.57%
2022-02-22	28.45	443782	-13.69%	19.58%	-7.6%	7.73%	55.17%	103.58%
2022-02-21	29.0	514172	-32.93%	21.19%	2.07%	8.96%	56.22%	97.94%
2022-02-18	31.7	766646	-19.62%	20.76%	6.85%	13.36%	50.51%	91.16%
2022-02-17	31.0	953811	95.16%	19.43%	15.79%	16.62%	41.36%	81.17%
2022-02-16	28.95	488726	-3.03%	16.78%	2.01%	8.51%	28.56%	66.43%
2022-02-15	27.45	504007	170.48%	16.45%	9.23%	8.78%	24.48%	60.76%
2022-02-14	26.7	186336	-22.72%	15.06%	-1.5%	3.25%	21.5%	59.45%
2022-02-11	27.75	241122	10.0%	15.29%	-0.71%	4.2%	22.1%	58.62%
2022-02-10	26.95	219199	-13.87%	15.4%	-1.53%	3.82%	19.11%	57.88%
2022-02-09	27.0	254487	-23.62%	15.64%	-1.08%	4.43%	16.85%	55.79%
2022-02-08	26.2	333171	50.86%	15.81%	-0.75%	5.8%	14.95%	55.28%
2022-02-07	25.6	220852	218.78%	15.93%	9.41%	3.85%	11.05%	52.0%
2022-01-26	23.4	69280	-22.64%	14.56%	-1.29%	1.21%	9.2%	50.94%
2022-01-25	22.8	89558	-38.34%	14.75%	-2.45%	1.56%	10.63%	51.71%
2022-01-24	23.5	145253	32.68%	15.12%	-2.77%	2.53%	10.41%	52.15%
2022-01-21	23.95	109473	-4.37%	15.55%	-3.42%	1.91%	8.98%	52.34%
2022-01-20	25.0	114476	-24.51%	16.1%	-1.59%	1.99%	9.17%	51.97%
2022-01-19	24.5	151645	97.93%	16.36%	-5.81%	2.64%	9.35%	51.82%
2022-01-18	25.45	76615	20.81%	17.37%	-0.23%	1.33%	10.08%	51.26%
2022-01-17	25.95	63420	-47.15%	17.41%	0.87%	1.1%	10.61%	52.2%
2022-01-14	25.55	120010	-4.07%	17.26%	0.94%	2.09%	12.35%	53.88%
2022-01-13	25.1	125098	-35.27%	17.1%	-2.95%	2.18%	17.73%	55.65%
2022-01-12	25.25	193248	80.16%	17.62%	-3.61%	3.37%	17.97%	57.57%
2022-01-11	26.3	107264	-34.4%	18.28%	-3.23%	1.87%	18.07%	60.15%
2022-01-10	26.35	163507	-61.84%	18.89%	-0.21%	2.85%	17.93%	68.4%
2022-01-07	27.0	428467	208.15%	18.93%	-2.17%	7.46%	19.0%	74.24%
2022-01-06	27.4	139043	-30.06%	19.35%	1.15%	2.42%	14.06%	75.46%
2022-01-05	27.3	198808	100.49%	19.13%	0.9%	3.46%	14.42%	82.36%
2022-01-04	26.65	99162	-55.92%	18.96%	-0.47%	1.73%	12.94%	87.29%
2022-01-03	26.3	224956	55.21%	19.05%	-3.54%	3.92%	13.21%	89.89%
2021-12-30	27.55	144940	-9.24%	19.75%	2.7%	2.52%	12.01%	91.21%
2021-12-29	26.75	159693	40.34%	19.23%	-2.39%	2.78%	11.02%	93.83%
2021-12-28	26.9	113787	-1.0%	19.7%	-0.05%	1.98%	10.08%	96.16%
2021-12-27	27.0	114941	-26.29%	19.71%	0.51%	2.0%	10.18%	101.81%
2021-12-24	26.2	155938	77.12%	19.61%	0.93%	2.72%	10.45%	112.31%
2021-12-23	26.15	88040	-16.98%	19.43%	-0.92%	1.53%	10.52%	122.25%
2021-12-22	26.1	106044	-11.27%	19.61%	-0.96%	1.85%	12.85%	132.39%
2021-12-21	26.3	119508	-8.35%	19.8%	-1.35%	2.08%	15.1%	141.99%
2021-12-20	26.75	130396	-18.49%	20.07%	-0.2%	2.27%	18.97%	146.24%
2021-12-17	26.2	159970	-27.93%	20.11%	-4.42%	2.79%	26.81%	151.1%
2021-12-16	26.7	221977	-5.53%	21.04%	4.42%	3.87%	32.72%	156.13%
2021-12-15	27.2	234973	-31.19%	20.15%	3.71%	4.09%	37.54%	161.35%
2021-12-14	25.9	341462	-41.19%	19.43%	-12.79%	5.95%	42.76%	168.34%
2021-12-13	27.0	580636	16.32%	22.28%	-20.14%	10.11%	45.21%	182.29%
2021-12-10	28.7	499171	0.12%	27.9%	3.03%	8.7%	39.42%	180.91%
2021-12-09	29.35	498550	-6.8%	27.08%	1.77%	8.68%	35.96%	172.63%
2021-12-08	28.5	534944	11.03%	26.61%	0.42%	9.32%	32.42%	174.96%
2021-12-07	28.4	481781	93.99%	26.5%	13.69%	8.39%	28.22%	176.44%
2021-12-06	26.55	248349	-17.45%	23.31%	1.0%	4.33%	27.45%	178.05%
2021-12-03	25.8	300846	1.91%	23.08%	2.71%	5.24%	35.63%	181.21%
2021-12-02	26.1	295216	0.5%	22.47%	1.49%	5.14%	43.05%	182.86%
2021-12-01	27.0	293747	-32.9%	22.14%	6.44%	5.12%	49.58%	178.66%
2021-11-30	26.0	437746	-39.02%	20.8%	7.38%	7.63%	55.91%	175.69%
2021-11-29	24.75	717904	-1.18%	19.37%	-5.65%	12.51%	54.61%	171.66%
2021-11-26	26.7	726459	8.41%	20.53%	-9.96%	12.65%	49.24%	163.01%
2021-11-25	29.65	670098	1.95%	22.8%	-3.47%	11.67%	44.4%	155.97%
2021-11-24	30.05	657294	80.95%	23.62%	15.78%	11.45%	41.81%	147.72%
2021-11-23	27.75	363248	-11.33%	20.4%	-1.54%	6.33%	41.45%	138.29%
2021-11-22	27.45	409683	-8.64%	20.72%	-4.3%	7.14%	55.02%	133.26%
2021-11-19	27.65	448414	-14.05%	21.65%	0.6%	7.81%	56.62%	127.13%
2021-11-18	28.35	521734	-18.02%	21.52%	-2.0%	9.09%	49.23%	119.53%
2021-11-17	29.0	636385	-44.28%	21.96%	13.25%	11.09%	51.15%	110.7%
2021-11-16	27.1	1142092	127.78%	19.39%	1.52%	19.9%	50.86%	99.76%
2021-11-15	26.4	501406	1976.45%	19.1%	N/A	8.73%	40.97%	80.24%
2021-11-13	17.15	24147	-96.18%	N/A	N/A	0.42%	39.72%	71.9%
2021-11-12	25.55	632140	1.98%	17.95%	6.28%	11.01%	46.19%	71.83%
2021-11-11	25.35	619864	7.96%	16.89%	2.67%	10.8%	36.12%	61.14%
2021-11-10	23.2	574169	33.56%	16.45%	11.75%	10.0%	27.46%	50.56%
2021-11-09	22.05	429905	8.67%	14.72%	14.11%	7.49%	21.06%	40.74%
2021-11-08	21.0	395616	636.9%	12.9%	N/A	6.89%	17.43%	33.51%
2021-11-06	17.1	53686	-56.42%	N/A	N/A	0.94%	16.16%	27.62%
2021-11-05	19.55	123187	-40.4%	11.25%	-3.6%	2.15%	18.65%	27.04%
2021-11-04	19.2	206681	-6.61%	11.67%	4.1%	3.6%	17.06%	25.13%
2021-11-03	19.1	221310	-31.38%	11.21%	-0.62%	3.86%	14.79%	21.87%
2021-11-02	18.95	322520	64.01%	11.28%	9.73%	5.62%	11.98%	18.37%
2021-11-01	18.1	196651	878.26%	10.28%	N/A	3.43%	6.59%	13.28%
2021-10-30	16.75	20102	-74.27%	N/A	N/A	0.35%	3.5%	12.1%
2021-10-29	17.2	78117	26.5%	9.6%	2.13%	1.38%	3.42%	12.85%
2021-10-28	16.95	61753	258.27%	9.4%	2.06%	1.09%	2.67%	12.59%
2021-10-27	16.2	17236	-19.07%	9.21%	0.33%	0.3%	2.08%	12.08%
2021-10-26	16.25	21297	35.17%	9.18%	0.88%	0.38%	2.13%	12.49%
2021-10-25	16.35	15755	-55.16%	9.1%	1.22%	0.28%	2.21%	12.83%
2021-10-22	16.25	35139	24.1%	8.99%	-1.53%	0.62%	2.29%	12.94%
2021-10-21	16.6	28315	39.52%	9.13%	0.11%	0.5%	1.97%	12.76%
2021-10-20	16.9	20294	-21.21%	9.12%	-0.11%	0.36%	1.82%	12.58%
2021-10-19	16.9	25756	28.13%	9.13%	0.11%	0.45%	2.55%	12.67%
2021-10-18	16.75	20102	16.43%	9.12%	-0.11%	0.35%	2.46%	12.44%
2021-10-15	16.75	17265	-13.27%	9.13%	-0.11%	0.3%	2.36%	12.36%
2021-10-14	16.7	19908	-67.68%	9.14%	-0.44%	0.35%	2.44%	12.24%
2021-10-13	16.8	61601	197.44%	9.18%	0.88%	1.09%	2.49%	12.2%
2021-10-12	16.75	20710	42.05%	9.1%	-0.11%	0.37%	2.0%	11.55%
2021-10-08	16.7	14579	-33.22%	9.11%	-0.11%	0.26%	3.93%	11.7%
2021-10-07	16.75	21830	-3.4%	9.12%	0.22%	0.38%	4.78%	11.84%
2021-10-06	16.65	22597	-33.27%	9.1%	-0.98%	0.4%	5.51%	11.97%
2021-10-05	17.05	33864	-73.9%	9.19%	-1.5%	0.6%	5.69%	12.6%
2021-10-04	16.65	129733	106.46%	9.33%	3.78%	2.29%	5.8%	12.7%
2021-10-01	16.7	62838	-1.36%	8.99%	-0.22%	1.11%	4.23%	11.06%
2021-09-30	17.2	63707	95.67%	9.01%	-0.99%	1.12%	3.52%	10.42%
2021-09-29	16.75	32559	-19.28%	9.1%	0.66%	0.57%	2.83%	9.72%
2021-09-28	16.95	40334	-0.89%	9.04%	-0.44%	0.71%	2.58%	9.58%
2021-09-27	16.75	40697	83.57%	9.08%	0.78%	0.72%	2.31%	9.42%
2021-09-24	16.2	22169	-11.2%	9.01%	0.45%	0.39%	1.82%	9.66%
2021-09-23	16.1	24964	37.6%	8.97%	0.79%	0.44%	1.71%	9.96%
2021-09-22	15.75	18142	-27.76%	8.9%	-0.11%	0.32%	1.45%	10.28%
2021-09-17	15.95	25115	100.08%	8.91%	0.79%	0.44%	1.44%	11.09%
2021-09-16	15.75	12552	-21.61%	8.84%	0.0%	0.22%	1.43%	11.22%
2021-09-15	15.75	16013	55.35%	8.84%	0.11%	0.28%	1.73%	11.81%
2021-09-14	15.95	10307	-42.22%	8.83%	-0.56%	0.18%	1.84%	12.84%
2021-09-13	16.05	17841	-26.49%	8.88%	0.57%	0.31%	2.18%	13.41%
2021-09-10	16.1	24270	-17.47%	8.83%	-0.23%	0.43%	2.88%	14.07%
2021-09-09	15.55	29407	30.92%	8.85%	0.45%	0.52%	3.16%	15.77%
2021-09-08	15.8	22462	-23.53%	8.81%	-1.01%	0.4%	3.29%	16.18%
2021-09-07	16.0	29373	-49.34%	8.9%	-1.0%	0.52%	3.35%	18.1%
2021-09-06	15.95	57976	44.72%	8.99%	-0.99%	1.02%	3.27%	21.5%
2021-09-03	16.5	40061	9.79%	9.08%	-1.41%	0.71%	2.67%	23.0%
2021-09-02	16.75	36487	38.69%	9.21%	-0.75%	0.64%	2.52%	23.24%
2021-09-01	17.05	26308	7.76%	9.28%	0.22%	0.46%	2.84%	23.06%
2021-08-31	17.25	24413	1.1%	9.26%	-0.96%	0.43%	3.06%	23.01%
2021-08-30	17.15	24147	-23.17%	9.35%	-0.21%	0.43%	3.39%	23.02%
2021-08-27	17.25	31429	-42.47%	9.37%	-0.74%	0.55%	4.09%	23.22%
2021-08-26	17.05	54628	N/A	9.44%	N/A	0.96%	4.11%	24.22%

漲很多的股票要留意營收年增率大幅減少

每月營收

年/月	營收(億)	月增率(%)	去年同期年增率(%)	累計營收年增率(%)
2022/7	129.36	4.81	24.52	29.09
2022/6	123.42	0.64	33.99	29.92
2022/5	122.63	0.18	34.13	29.14
2022/4	122.4	-0.51	12.56	27.96
2022/3	123.03	15.19	18.0	33.99
2022/2	106.8	-25.07	28.12	43.58
2022/1	142.55	-15.74	57.86	57.86
2021/12	169.18	10.08	63.41	20.24
2021/11	153.69	2.83	52.84	15.99
2021/10	149.45	14.55	54.82	12.09
2021/9	130.46	16.78	47.35	7.26
2021/8	111.71	7.52	23.68	2.63
2021/7	103.88	12.78	20.33	-0.18
2021/6	92.11	0.75	13.61	-3.19
2021/5	91.42	-15.92	-9.44	-5.87
2021/4	108.74	4.29	30.65	-4.98
2021/3	104.26	25.07	26.18	-14.15
2021/2	83.36	-7.68	-10.77	-27.97
N/A	N/A	N/A	N/A	N/A
2020/12	103.53	2.96	-27.8	-31.42
2020/11	100.55	4.16	-25.31	-31.76
2020/10	96.53	9.03	-32.47	-32.37
2020/9	88.53	-1.96	-31.35	-32.36
2020/8	90.31	4.61	-39.67	-32.48
2020/7	86.33	6.48	-44.04	-31.38
2020/6	81.07	-19.69	-44.1	-29.03
2020/5	100.95	21.29	-26.53	-25.84
2020/4	83.22	0.72	-41.7	-25.67
2020/3	82.63	-11.55	-39.96	-20.01
2020/2	93.42	-36.74	-24.86	-9.74
2020/1	147.68	2.98	3.42	3.42
2019/12	143.4	6.51	-5.97	-1.44
2019/11	134.63	-5.82	-7.04	-0.99
2019/10	142.96	10.85	-3.19	-0.37
2019/9	128.97	-13.85	-9.63	-0.04
2019/8	149.7	-2.96	-2.06	1.17
2019/7	154.28	6.37	-2.31	1.68
2019/6	145.03	5.54	3.02	2.46
2019/5	137.41	-3.75	4.02	2.34
2019/4	142.77	3.73	1.55	1.93
2019/3	137.63	10.68	-0.61	2.06
2019/2	124.34	-12.92	-5.33	3.5
2019/1	142.79	-6.37	12.67	12.67
2018/12	152.51	5.29	7.46	9.42
2018/11	144.83	-1.92	8.03	9.62
2018/10	147.67	3.47	5.06	9.78
2018/9	142.71	-6.63	15.2	10.36
2018/8	152.86	-3.21	9.93	9.77
2018/7	157.94	12.18	10.72	9.75
2018/6	140.78	6.57	10.68	9.56

近一年股價

近一年營收年增率

僅顯示部份重要科目, 完整財報可參考這裡

避開自由現金流量近3年都小於0的公司
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
營運現金流量不應該都是流出
其它調整項如果佔太大比例可能有問題

現金流量-近10年

	營運現金流量	其他營業調整項	自由現金流量	稅後淨利	資本支出	其他投資調整項	資本支出佔股本(%)
2021	498.85	73.23	332.2	93.8	147.27	-4.3	24.79
2020	97.23	39.74	-153.25	1.4	126.45	-3.02	23.33
2019	375.27	6.86	214.74	-12.0	189.75	-1.34	35.00
2018	270.27	3.91	67.47	17.9	196.0	-1.24	36.16
2017	285.47	-15.25	27.55	22.08	272.91	-1.41	49.88
2016	176.36	1.1	-33.86	5.72	276.62	0	50.56
2015	317.91	-2.82	213.49	57.64	201.84	0	36.89
2014	169.09	1.46	-54.34	-7.49	222.58	0	42.40
2013	214.86	9.36	91.04	-12.74	133.63	0	25.70

現金流量-近20季

	營運現金流量	其他營業調整項	自由現金流量	稅後淨利	資本支出	其他投資調整項	資本支出佔股本(%)
22Q2	81.44	35.28	79.31	4.2	51.9	-1.59	8.63
22Q1	91.47	-4.52	81.48	30.72	67.05	0	11.19
21Q4	217.9	8.32	81.61	78.25	12.31	0	2.07
21Q3	116.89	9.92	68.03	29.17	30.38	0	5.29
21Q2	86.08	-2.69	76.52	-3.43	37.39	0	6.59
21Q1	77.99	-6.67	106.05	-10.19	67.19	0	12.39
20Q4	69.82	-3.97	1.81	21.62	78.03	0	14.39
20Q3	64.83	4.62	-87.98	-7.08	17.76	0	3.28
20Q2	29.98	21.31	19.38	24.59	8.3	-0.55	1.53
20Q1	-67.39	3.95	-86.46	-37.73	22.35	-0.53	4.12
19Q4	44.89	-24.61	41.42	-8.53	20.35	-1.34	3.75
19Q3	102.0	14.41	12.68	3.4	102.07	0	18.83
19Q2	115.17	4.27	69.54	-4.43	45.33	0	8.36
19Q1	113.2	12.79	91.08	-2.44	21.99	0	4.06
18Q4	57.16	-1.97	8.75	5.21	49.09	-0.27	9.06
18Q3	74.89	-7.34	42.39	10.81	32.84	-0.48	6.00
18Q2	92.85	16.82	50.07	1.58	44.02	-0.5	8.05
18Q1	26.98	8.17	-33.73	0.31	70.05	-0.59	12.80
17Q4	61.73	-32.21	-23.16	12.56	87.56	0	16.00
17Q3	98.75	-2.41	25.55	29.52	80.25	0	14.67

僅顯示部份重要科目, 完整財報可參考這裡

現金是否充足, 是否沒有債務壓力
應收帳款或存貨是否突然大幅增加, 留意應收帳款超過營收
如果未分配盈餘為負, 就算當年有獲利也沒法配息
營收和獲利增加的速度要大於存貨和應收帳款的速度; 營收衰退, 應收帳款正常也要跟著減少
最容易被操弄的資產是應收帳款, 存貨和長期投資
如果有資金貸予他人要注意
圖表中的值是加一取對數, 目的是為了看趨勢

資產負債表-近20季

	現金及約當現金	營收	淨利	應收帳款及票據	應收帳款佔營收比(%)	存貨	長期投資	長期負債	一年內到期長期負債	商譽及無形資產	股本	法定盈餘公積	特別盈餘公積	未分配盈餘	保留盈餘
22Q2	382.41	368.52	4.2	118.17	32.07	95.16	35.64	759.11	134.49	9.27	601.35	9.25	0	68.21	77.46
22Q1	399.37	372.33	30.72	105.55	28.35	0	36.11	883.41	79.28	9.64	599.35	0	0	123.26	123.26
21Q4	452.7	471.67	78.25	134.76	28.57	0	36.3	961.94	118.49	10.09	594.12	0	0	92.54	92.54
21Q3	368.94	344.74	29.17	119.2	34.58	0	36.52	931.8	151.09	11.56	574.05	0	0	14.51	14.51
21Q2	296.33	293.73	-3.43	94.02	32.01	0	37.38	880.97	175.96	9.91	567.13	0	0	-17.13	-17.13
21Q1	240.26	278.28	-10.19	92.99	33.42	0	39.65	877.0	240.82	10.3	542.1	0	0	-13.7	-13.7
20Q4	271.26	297.66	21.62	96.99	32.58	0	40.46	875.88	272.17	10.76	542.1	0	0	-3.51	-3.51
20Q3	266.39	266.12	-7.08	84.2	31.64	0	40.84	842.82	280.31	10.88	542.1	0	0	-20.24	-20.24
20Q2	342.18	263.16	24.59	83.64	31.78	78.99	41.32	791.52	290.7	11.41	542.1	0	0	-13.16	-13.16
20Q1	396.01	325.57	-37.73	70.54	21.67	79.41	42.49	766.38	289.64	11.51	542.1	4.66	0.13	-55.52	-50.73
19Q4	284.6	421.42	-8.53	85.31	20.24	84.7	42.99	755.68	241.49	11.83	542.1	4.66	0.13	-17.77	-12.98
19Q3	288.31	430.05	3.4	92.66	21.55	0	42.61	824.93	188.76	12.12	542.1	4.66	0.13	-3.46	1.33
19Q2	233.49	428.92	-4.43	98.76	23.03	0	44.43	819.93	160.63	11.88	542.1	4.66	0.13	-6.86	-2.07
19Q1	233.52	404.05	-2.44	91.44	22.63	0	43.72	856.3	107.07	11.8	542.1	3.52	1.19	9.01	13.72
18Q4	249.38	445.04	5.21	100.48	22.58	0	42.75	891.63	207.89	12.11	542.1	3.52	1.19	11.45	16.16
18Q3	232.28	451.97	10.81	98.24	21.74	0	42.9	840.55	248.82	12.05	547.1	3.52	1.19	12.7	17.4
18Q2	248.62	412.76	1.58	92.06	22.30	0	44.24	866.98	260.33	12.07	547.1	3.52	1.19	1.89	6.6

資產負債表-近10年

	現金及約當現金	營收	淨利	應收帳款及票據	應收帳款佔營收比(%)	存貨	長期投資	長期負債	一年內到期長期負債	商譽及無形資產	股本	法定盈餘公積	特別盈餘公積	未分配盈餘	保留盈餘
2021	452.7	1388.41	93.8	134.76	9.71	88.15	36.3	961.94	118.49	10.09	594.12	0	0	92.54	92.54
2020	271.26	1152.51	1.4	96.99	8.42	87.88	40.46	875.88	272.17	10.76	542.1	0	0	-3.51	-3.51
2019	284.6	1684.44	-12.0	85.31	5.06	0	42.99	755.68	241.49	11.83	542.1	4.66	0.13	-17.77	-12.98
2018	249.38	1707.12	17.9	100.48	5.89	0	42.75	891.6	207.89	12.11	542.1	3.52	1.19	11.45	16.16
2017	225.85	1561.22	22.08	86.13	5.52	0	45.83	874.4	252.89	10.19	547.1	2.06	0	14.58	16.64
2016	242.67	1410.79	5.72	83.57	5.92	0	49.42	801.45	362.53	11.37	547.09	2.87	0.76	-1.58	2.06
2015	234.91	1450.56	57.64	76.15	5.25	0	49.54	737.89	364.94	10.1	547.09	0	0	28.72	28.72
2014	204.68	1505.82	-7.49	94.67	6.29	0	48.83	915.17	255.62	6.71	524.92	0	0	-38.71	-38.71
2013	190.08	1417.03	-12.74	77.89	5.50	0	47.65	806.08	344.45	4.89	520.0	3.22	39.26	-74.09	-31.61

僅顯示部份重要科目, 完整財報可參考這裡

股本如果持續膨脹, 就會影響到EPS, 接著就會影響股價
匯回海外所得, 有可能使得所得稅率提高

損益表-近20季

	營收	利息收入	利息支出(不含租賃負債)	利息支出－租賃負債	股利收入	其他收入	處分不動產、廠房及設備	處分投資	外幣兌換	營業外收入及支出	稅前淨利	所得稅費用	所得稅率 (%)	每股盈餘	加權平均股數
22Q2	368.52	0	0	0	0	0	0	0	0	-5.32	4.28	0.85	19.86	0.07	6003
22Q1	372.33	0.36	2.49	3.34	0	2.43	0.03	0	2.76	-0.74	35.52	7.42	20.89	0.52	5965
21Q4	471.67	0.59	2.6	3.08	0.01	4.9	0.91	0	0.16	-3.89	98.57	19.98	20.27	1.39	5616
21Q3	344.74	0.23	2.12	3.72	0.12	1.08	-0.34	0	-0.17	-8.33	31.52	3.52	11.17	0.51	5725
21Q2	293.73	0.34	2.7	3.62	0	1.21	-9.53	-0.01	1.26	-17.56	-5.5	-0.65	0.00	-0.06	5474
21Q1	278.28	0.41	2.87	3.78	0	0.51	-0.36	0	-1.28	-8.63	-13.32	-1.15	0.00	-0.19	5419
20Q4	297.66	0.4	3.29	3.76	0.01	0.9	0	0	3.15	-8.59	19.06	-1.9	0.00	0.40	5419
20Q3	266.12	0.63	3.11	4.58	0.15	1.04	0.07	0	1.61	-5.35	-8.93	-0.76	0.00	-0.13	5419
20Q2	263.16	0	3.56	4.59	0	0	0	0	0	-6.08	21.4	-1.13	0.00	0.45	5465
20Q1	325.57	0	3.56	4.92	0	0	0	0	0	-8.36	-38.06	0.04	0.00	-0.70	5419
19Q4	421.42	0	0	0	0	0	0	0	0	-4.99	-6.29	1.04	0.00	-0.16	5418
19Q3	430.05	0.93	0	0	0.11	0.86	0.2	0	-1.09	-7.9	6.72	1.76	26.19	0.06	5418
19Q2	428.92	0.97	0	0	0.07	0.78	0.04	0	-1.2	-7.54	-1.82	1.09	0.00	-0.08	5418
19Q1	404.05	0.97	0	0	0	0.46	-0.09	0.08	-0.27	-7.19	0.42	1.89	450.00	-0.04	5418
18Q4	445.04	1.04	0	0	0.02	0.52	0.1	0	0.64	-1.34	7.95	1.52	19.12	0.10	5454
18Q3	451.97	0.85	0	0	0	0.63	0.03	-0.06	-0.59	-2.35	16.6	4.33	26.08	0.20	5457
18Q2	412.76	0.82	0	0	0.08	0.69	-2.49	0.96	0.18	-3.15	4.6	1.55	33.70	0.03	5468
18Q1	397.35	0	0	0	0	0	0	0	0	-2.57	1.67	0.69	41.32	0.01	5468
17Q4	416.26	0.53	0	0	0.01	0.74	1.11	-0.19	0.33	-11.64	15.26	2.25	14.74	0.23	5468
17Q3	405.43	0.6	0	0	0.03	0.61	0.8	1.2	0.34	-0.32	36.7	6.19	16.87	0.54	5468

損益表-近10年

	營收	利息收入	利息支出(不含租賃負債)	利息支出－租賃負債	股利收入	其他收入	處分不動產、廠房及設備	處分投資	外幣兌換	營業外收入及支出	稅前淨利	所得稅費用	所得稅率 (%)	每股盈餘	加權平均股數
2021	1388.41	0	0	0	0	0	0	0	0	-38.41	111.27	21.7	19.50	1.67	5617
2020	1152.51	0	13.52	17.85	0	0	0	0	0	-28.38	-6.54	-3.74	0.00	0.03	5419
2019	1684.44	4.17	12.47	21.39	0.21	2.41	0.22	0.08	-1.42	-27.63	-0.97	5.78	0.00	-0.22	5418
2018	1707.12	3.31	14.22	0	0.1	2.55	-6.4	4.5	0.42	-9.41	30.81	8.09	26.26	0.33	5454
2017	1561.22	2.1	15.63	0	0.1	3.08	2.59	1.01	-0.52	-53.02	35.24	10.33	29.31	0.40	5468
2016	1410.79	2.43	17.14	0	0.59	2.89	0.53	0	-6.3	-26.85	18.8	11.69	62.18	0.10	5468
2015	1450.56	4.67	21.21	0	18.84	6.96	0.13	0	2.44	-9.94	71.35	12.09	16.94	1.06	5433
2014	1505.82	4.42	22.23	0	0.3	4.28	0.52	0.07	-0.44	-21.56	3.62	9.6	265.19	-0.14	5199
2013	1417.03	3.61	0	0	0.66	9.94	0.06	7.42	1.61	-10.87	-3.61	5.88	0.00	-0.25	5197

獲利能力-近20季

	營收(億)	營業成本(億)	營業毛利(億)	營業毛利率	營業利益(億)	營業利益率	業外收支(億)	稅前淨利(億)	稅後淨利(億)	EPS
22Q2	368.52	341.54	26.98	7.32	9.6	2.61	-5.32	4.28	4.2	0.07
22Q1	372.33	317.34	54.99	14.77	36.26	9.74	-0.74	35.52	30.72	0.52
21Q4	471.67	338.8	132.86	28.17	102.46	21.72	-3.89	98.57	78.25	1.39
21Q3	344.74	289.07	55.67	16.15	39.85	11.56	-8.33	31.52	29.17	0.51
21Q2	293.73	265.4	28.33	9.65	12.06	4.11	-17.56	-5.5	-3.43	-0.06
21Q1	278.28	261.6	16.68	5.99	-4.69	-1.69	-8.63	-13.32	-10.19	-0.19
20Q4	297.66	256.36	41.3	13.88	27.65	9.29	-8.59	19.06	21.62	0.40
20Q3	266.12	254.09	12.03	4.52	-3.58	-1.34	-5.35	-8.93	-7.08	-0.13
20Q2	263.16	216.51	46.65	17.73	27.48	10.44	-6.08	21.4	24.59	0.45
20Q1	325.57	323.36	2.21	0.68	-29.71	-9.13	-8.36	-38.06	-37.73	-0.70
19Q4	421.42	390.91	30.5	7.24	-1.3	-0.31	-4.99	-6.29	-8.53	-0.16
19Q3	430.05	378.78	51.27	11.92	14.62	3.40	-7.9	6.72	3.4	0.06
19Q2	428.92	385.96	42.97	10.02	5.73	1.33	-7.54	-1.82	-4.43	-0.08
19Q1	404.05	361.92	42.13	10.43	7.61	1.88	-7.19	0.42	-2.44	-0.04
18Q4	445.04	403.6	41.44	9.31	9.29	2.09	-1.34	7.95	5.21	0.10
18Q3	451.97	398.87	53.1	11.75	18.95	4.19	-2.35	16.6	10.81	0.20
18Q2	412.76	373.19	39.57	9.59	7.75	1.88	-3.15	4.6	1.58	0.03
18Q1	397.35	359.38	37.97	9.55	4.23	1.06	-2.57	1.67	0.31	0.01
17Q4	416.26	355.44	60.82	14.61	26.91	6.46	-11.64	15.26	12.56	0.23
17Q3	405.43	334.74	70.68	17.43	37.02	9.13	-0.32	36.7	29.52	0.54

營業利益和稅後淨利成長率大於營收成長率, 通常代表公司在成長, 如果是漲很多的股票, 發現沒有現象就要留意了
營收到某個數字後, 營業利益產生不成比例的增加, 有可能是規模經濟的效應
如果是有淡旺季的公司, 是否有淡季不淡, 旺季更旺的情況

成長能力-近20季

	營收(億)	營業利益(億)	稅後淨利(億)	稅前淨利率(%)	EPS	去年同期營收成長率(%)	去年稅前淨利率成長率(%)	去年同期EPS成長率(%)	兩季平均(YOY)營收成長率(%)	兩季平均(YOY)EPS成長率(%)	較上季營收成長率(%)	較上季稅前淨利率成長率(%)	較上季EPS成長率(%)
22Q2	368.52	9.6	4.2	1.16	0.07	25.46	162.03	216.67	29.63	295.18	-1.02	-87.84	-86.54
22Q1	372.33	36.26	30.72	9.54	0.52	33.80	299.16	373.68	46.13	310.59	-21.06	-54.35	-62.59
21Q4	471.67	102.46	78.25	20.90	1.39	58.46	226.56	247.50	44.00	369.90	36.82	128.67	172.55
21Q3	344.74	39.85	29.17	9.14	0.51	29.54	372.02	492.31	20.58	189.49	17.37	588.77	950.00
21Q2	293.73	12.06	-3.43	-1.87	-0.06	11.62	-123.00	-113.33	-1.46	-20.23	5.55	60.96	68.42
21Q1	278.28	-4.69	-10.19	-4.79	-0.19	-14.53	59.02	72.86	-21.95	211.43	-6.51	-174.84	-147.50
20Q4	297.66	27.65	21.62	6.40	0.40	-29.37	529.53	350.00	-33.74	16.66	11.85	290.48	407.69
20Q3	266.12	-3.58	-7.08	-3.36	-0.13	-38.12	-315.38	-316.67	-38.38	172.91	1.12	-141.33	-128.89
20Q2	263.16	27.48	24.59	8.13	0.45	-38.65	2035.71	662.50	-29.04	-493.75	-19.17	169.55	164.29
20Q1	325.57	-29.71	-37.73	-11.69	-0.70	-19.42	-11790.00	-1650.00	-12.37	-955.00	-22.74	-684.56	-337.50
19Q4	421.42	-1.3	-8.53	-1.49	-0.16	-5.31	-183.24	-260.00	-5.08	-165.00	-2.01	-195.51	-366.67
19Q3	430.05	14.62	3.4	1.56	0.06	-4.85	-57.49	-70.00	-0.46	-218.34	0.26	471.43	175.00
19Q2	428.92	5.73	-4.43	-0.42	-0.08	3.92	-137.84	-366.67	2.80	-433.34	6.16	-520.00	-100.00
19Q1	404.05	7.61	-2.44	0.10	-0.04	1.69	-84.85	-500.00	4.30	-278.26	-9.21	-94.41	-140.00
18Q4	445.04	9.29	5.21	1.79	0.10	6.91	-51.23	-56.52	9.20	-59.74	-1.53	-51.23	-50.00
18Q3	451.97	18.95	10.81	3.67	0.20	11.48	-59.45	-62.96	-	-	9.50	230.63	566.67
18Q2	412.76	7.75	1.58	1.11	0.03	-	0.00	-	-	-	3.88	68.18	200.00
18Q1	397.35	4.23	0.31	0.66	0.01	-	0.00	-	-	-	-4.54	-82.02	-95.65
17Q4	416.26	26.91	12.56	3.67	0.23	-	0.00	-	-	-	2.67	-59.45	-57.41
17Q3	405.43	37.02	29.52	9.05	0.54	-	0.00	-	-	-	-	0.00	-

成長能力-近10年

	營收(億)	營業利益(億)	稅後淨利(億)	稅前淨利率(%)	EPS	營收成長率(%)	營業利益成長率(%)	稅後淨利成長率(%)	稅前淨利率成長率(%)	EPS成長率(%)
2021	1388.41	149.68	93.8	8.01	1.54	20.47	585.35	6600.00	1505.26	5033.33
2020	1152.51	21.84	1.4	-0.57	0.03	-31.58	-18.08	111.67	N/A	N/A
2019	1684.44	26.66	-12.0	-0.06	-0.22	-1.33	-33.71	N/A	N/A	N/A
2018	1707.12	40.22	17.9	1.80	0.32	9.35	-54.43	-18.93	-20.35	-17.95
2017	1561.22	88.26	22.08	2.26	0.39	10.66	93.34	286.01	69.92	290.00
2016	1410.79	45.65	5.72	1.33	0.10	-2.74	-43.84	-90.08	-72.97	-90.00
2015	1450.56	81.29	57.64	4.92	1.00	-3.67	222.71	869.56	1950.00	N/A
2014	1505.82	25.19	-7.49	0.24	-0.14	6.27	246.97	N/A	196.00	N/A
2013	1417.03	7.26	-12.74	-0.25	-0.25	N/A	N/A	N/A	N/A	N/A

毛利率代表著產品的競爭優勢, 要和同一個產業做比較. 如果是毛三到四, 就要看公司的營收規模是否夠大
營益率代表著公司的經營效率
穩定或持續提升的毛利率和營益率十分重要
本業收入比高的公司, 才容易預估財測, 值得花心力去研究

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

	營業毛利率	營業利益率	稅前淨利率	本業收入比	業外獲益比
22Q2	7.32	2.61	1.16	224.30	-124.30
22Q1	14.77	9.74	9.54	102.08	-2.08
21Q4	28.17	21.72	20.90	103.95	-3.95
21Q3	16.15	11.56	9.14	126.43	-26.43
21Q2	9.65	4.11	-1.87	-219.27	319.27
21Q1	5.99	-1.69	-4.79	35.21	64.79
20Q4	13.88	9.29	6.40	145.07	-45.07
20Q3	4.52	-1.34	-3.36	40.09	59.91
20Q2	17.73	10.44	8.13	128.41	-28.41
20Q1	0.68	-9.13	-11.69	78.06	21.97
19Q4	7.24	-0.31	-1.49	20.67	79.33
19Q3	11.92	3.40	1.56	217.56	-117.56
19Q2	10.02	1.33	-0.42	-314.84	414.29
19Q1	10.43	1.88	0.10	1811.90	-1711.90
18Q4	9.31	2.09	1.79	116.86	-16.86
18Q3	11.75	4.19	3.67	114.16	-14.16
18Q2	9.59	1.88	1.11	168.48	-68.48
18Q1	9.55	1.06	0.66	253.29	-153.89
17Q4	14.61	6.46	3.67	176.34	-76.28
17Q3	17.43	9.13	9.05	100.87	-0.87

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

	營業毛利率	營業利益率	折舊負擔比率	稅前淨利率	股東權益報酬率	資產報酬率	本業收入比	業外獲益比	無形資產佔淨值比
2021	16.82	10.78	21.41	8.01	12.99	3.76	134.52	-34.52	0.34
2020	8.87	1.90	27.04	-0.57	-0.46	0.75	-333.94	433.94	0.38
2019	9.91	1.58	19.35	-0.06	-1.12	0.76	-2748.45	2848.45	0.40
2018	10.08	2.36	11.32	1.80	3.81	1.48	130.54	-30.54	0.53
2017	14.07	5.65	11.75	2.26	4.26	1.60	250.45	-150.45	0.00
2016	12.76	3.24	12.44	1.33	1.20	0.80	242.82	-142.82	0.00
2015	13.97	5.60	11.90	4.92	10.63	3.28	113.93	-13.93	0.00
2014	9.05	1.67	11.60	0.24	-1.15	0.48	695.86	-595.58	0.00
2013	7.78	0.51	12.17	-0.25	-1.79	0.37	-201.11	301.11	0.00

應收帳款周轉率和存貨周轉率-近20季

	應收帳款周轉率	存貨周轉率	平均收帳天數	平圴銷貨天數	流動比	速動比
22Q2	3.29	7.18	27	12	115.13	97.01
22Q1	3.10	0.00	29	0	153.79	133.02
21Q4	3.71	0.00	24	0	161.25	143.21
21Q3	3.23	0.00	28	0	131.61	110.77
21Q2	3.14	0.00	28	0	106.86	86.47
21Q1	2.93	0.00	31	0	92.96	74.77
20Q4	3.29	0.00	27	0	98.76	83.11
20Q3	3.17	0.00	28	0	92.60	77.39
20Q2	3.41	5.48	26	16	81.20	65.97
20Q1	4.18	8.14	21	11	71.73	59.82
19Q4	4.74	9.23	19	9	67.87	53.23
19Q3	4.49	0.00	20	0	71.95	57.19
19Q2	4.51	0.00	20	0	67.30	51.62
19Q1	4.21	0.00	21	0	70.73	53.51
18Q4	4.48	0.00	20	0	86.67	65.56
18Q3	4.75	0.00	19	0	77.61	56.64
18Q2	4.47	0.00	20	0	77.44	56.31
18Q1	4.45	0.00	20	0	76.79	54.58
17Q4	4.92	0.00	18	0	78.64	53.44
17Q3	4.84	0.00	18	0	73.77	54.34

應收帳款周轉率和存貨周轉率-近10年

	應收帳款周轉率	存貨周轉率	平均收帳天數	平圴銷貨天數	流動比	速動比
2021	11.98	26.20	30	13	161.25	143.21
2020	12.64	23.90	28	15	98.76	83.11
2019	18.13	0.00	20	0	67.87	53.23
2018	18.30	0.00	19	0	86.67	65.56
2017	18.40	0.00	19	0	78.64	53.44
2016	17.67	0.00	20	0	69.00	49.63
2015	16.98	0.00	21	0	66.90	47.98
2014	17.45	0.00	20	0	66.68	50.57
2013	18.50	0.00	19	0	59.91	44.92

金融負債: 需要支付利息, 會造成財務負擔
營業活動負債: 因營業活動而產生, 如應付帳款, 應付票據, 合約負債等, 通常不需要支付利息. 此類型負債上升, 通常代表業績增加, 議價能力變好
償債能力良好的公司 - 利息保障倍數大於5倍和長期銀行借款占稅後淨利比小於2
要注意負債比增加的原因

償債能力-近10年

	負債比	金融負債(億)	營收淨額(億)	利息保障倍數	長期銀行借款占稅後淨利比
2021	0.74	1351.28	1388.41	5.62	9.07
2020	0.79	1551.11	1152.51	0.79	552.06
2019	0.79	1290.95	1684.44	0.97	33.90
2018	0.74	814.79	1707.12	3.23	33.90
2017	0.74	918.98	1561.22	3.62	30.07
2016	0.74	979.19	1410.79	2.45	105.96
2015	0.73	998.91	1450.56	5.00	10.91
2014	0.78	1147.7	1505.82	1.18	0.00
2013	0.76	965.59	1417.03	0.83	0.00

償債能力-近20季

	負債比	金融負債(億)	利息保障倍數	長期銀行借款占稅後淨利比
22Q2	0.74	1246.62	1.66	159.63
22Q1	0.72	1243.07	7.28	25.39
21Q4	0.74	1351.28	18.71	10.87
21Q3	0.76	1298.08	6.51	26.26
21Q2	0.77	1295.24	0.11	35.75
21Q1	0.78	1363.36	-1.03	35.75
20Q4	0.79	1551.11	3.76	35.75
20Q3	0.80	1554.04	-0.19	26.45
20Q2	0.79	1517.51	3.69	26.45
20Q1	0.81	1557.21	-3.64	175.18
19Q4	0.79	1290.95	0.23	175.18
19Q3	0.80	1334.4	1.84	175.18
19Q2	0.80	1120.16	0.78	116.49
19Q1	0.80	1161.96	1.05	116.49
18Q4	0.74	814.79	3.18	116.49
18Q3	0.73	850.01	5.75	55.60
18Q2	0.74	892.74	2.31	397.24
18Q1	0.74	913.06	1.83	1985.68
17Q4	0.74	0	5.08	0.00
17Q3	0.74	0	10.30	0.00

成本指標-近20季

	營收淨額(億)	推銷費用(億)	管理費用(億)	研發費(億)	推銷費用率(%)	管理費用率(%)	研發費用率(%)
22Q2	368.52	0	0	0	0.00	0.00	0.00
22Q1	372.33	0	0	0	0.00	0.00	0.00
21Q4	471.67	0	0	0	0.00	0.00	0.00
21Q3	344.74	0	0	0	0.00	0.00	0.00
21Q2	293.73	0	0	0	0.00	0.00	0.00
21Q1	278.28	0	0	0	0.00	0.00	0.00
20Q4	297.66	0	0	0	0.00	0.00	0.00
20Q3	266.12	0	0	0	0.00	0.00	0.00
20Q2	263.16	0	0	0	0.00	0.00	0.00
20Q1	325.57	0	0	0	0.00	0.00	0.00
19Q4	421.42	0	0	0	0.00	0.00	0.00
19Q3	430.05	0	0	0	0.00	0.00	0.00
19Q2	428.92	0	0	0	0.00	0.00	0.00
19Q1	404.05	0	0	0	0.00	0.00	0.00
18Q4	445.04	0	0	0	0.00	0.00	0.00
18Q3	451.97	0	0	0	0.00	0.00	0.00
18Q2	412.76	0	0	0	0.00	0.00	0.00
18Q1	397.35	0	0	0	0.00	0.00	0.00
17Q4	416.26	0	0	0	0.00	0.00	0.00
17Q3	405.43	0	0	0	0.00	0.00	0.00

成本指標-近10年

	營收淨額(億)	推銷費用(億)	管理費用(億)	推銷費用率(%)	管理費用率(%)
2021	1388.41	0	0	0.00	0.00
2020	1152.51	0	0	0.00	0.00
2019	1684.44	0	0	0.00	0.00
2018	1707.12	0	0	0.00	0.00
2017	1561.22	0	0	0.00	0.00
2016	1410.79	0	0	0.00	0.00
2015	1450.56	0	0	0.00	0.00
2014	1505.82	0	0	0.00	0.00
2013	1417.03	65.54	37.47	4.63	2.64

合約負債-近20季, 最新合約負債佔股本: 9.0%

	合約負債 (億)
22Q2	53.95
22Q1	40.87
21Q4	38.69
21Q3	32.71
21Q2	33.63
21Q1	35.4
20Q4	35.69
20Q3	43.94
20Q2	60.85
20Q1	110.72
19Q4	210.61
19Q3	208.37
19Q2	212.52
19Q1	185.5
18Q4	195.46
18Q3	174.62
18Q2	176.62
18Q1	165.84

合約負債-近10年

	合約負債 (億)
2021	38.69
2020	35.69
2019	210.61
2018	195.46
2017	163.76
2016	148.21
2015	131.12
2014	111.64
2013	88.5

股息配發率

	EPS	現金股利	現金配發率	全部配發率
2021	1.54	0.83	53.90	53.90
2020	0.03	0.00	0.00	0.00
2019	-0.22	0.00	0.00	0.00
2018	0.32	0.21	65.62	65.62
2017	0.39	0.22	56.41	56.41
2016	0.10	0.00	0.00	0.00
2015	1.00	0.46	46.00	46.00
2014	-0.14	0.00	0.00	0.00

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