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— —- EPS近四季
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- 每股淨值最近一季
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- ROE近四季
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- 現金股利近一年
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- 本益比目前
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- 股價淨值比目前
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- 現金殖利率目前
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- 近四季淨利推算
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- 市值
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- 在外流通股數普通股
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- 股本實收資本額
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- 財報基準—
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獲利品質
毛利率與營業利益率的走勢。這不是估價指標，不納入上方彙總 —— 它看的是各公式分母的那個「盈餘」品質如何。 Gross and operating margin over time. Not a valuation input and not included in the summary above — it shows the quality of the earnings the formulas divide by.計算值彙總
下方各公式在你設定的參數下算出的數值，做敘述統計。 本站不對這些數值作評價，也不提供買賣建議。勾選卡片可調整納入哪些公式。
Descriptive statistics over the values the formulas below produce under the assumptions you set. This site does not evaluate these numbers and gives no buy or sell advice. Use the checkboxes to choose which formulas count.
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計算參數
所有假設都由你設定，改動會立即重算
資料基準
這是該股本益比、股價淨值比、殖利率的歷史分位數。資料由本站自 2026 年 10 月起， 每週從證交所與櫃買中心的開放資料（OpenAPI）存一筆快照自行累積， 滿 26 週（約半年）的個股才會啟用，最多保留約五年；卡片標籤會顯示目前累積了幾週。 未滿之前，或關閉這個選項時，本益比類、股價淨值比法、股利法一律改用下方你自訂的固定倍數 （股價營收比本來就只吃自訂倍數）。
These are percentiles of this stock's own P/E, P/B and dividend yield. This site has been building that history itself since October 2026, saving one weekly snapshot from the TWSE and TPEx open-data APIs; a stock's range switches on once it has 26 weeks (about six months) of samples, and up to about five years are kept. The card label shows how many weeks have accumulated. Until then, or if you turn this off, the P/E family, price-to-book and dividend methods all use the fixed multiples you set below (price-to-sales always does).
自訂每股盈餘（EPS）
填入數字後，所有以「預估 EPS」為基礎的公式（年化本益比、月營收動能、 本益成長比、葛拉漢公式）一律改用你輸入的值，卡片會標示「你輸入的 EPS」。 留空則沿用本站依季報與月營收算出的數字。
Enter a number and every formula built on an estimated EPS (forward P/E, monthly revenue momentum, PEG, Graham) switches to your figure, and the card says so. Leave it blank to keep the value derived from quarterly filings and monthly revenue.
本益比倍數（無歷史資料時，年化版與近四季版共用）
股價淨值比倍數（無歷史資料時）
目標現金殖利率（無歷史資料時）
殖利率與價格成反比，殖利率設得越高、算出的對應價越低。 預設值 6.25 / 5 / 3.125% 即「現金股利 × 16 / 20 / 32 倍」的換算。
Yield moves inversely to price: the higher the target yield, the lower the resulting price. The defaults of 6.25 / 5 / 3.125% are the same thing as 16 / 20 / 32 times the dividend.
股價營收比倍數（P/S）
合理倍數因產業差異極大 —— 軟體與 IC 設計常在 5~10 倍， 通路與代工可能低於 0.5 倍。務必依同業水準調整。
Reasonable multiples vary enormously by industry — software and IC design often run 5–10x, distribution and contract manufacturing can be below 0.5x. Always adjust to the peer group.
本益成長比（PEG）
PEG = 本益比 ÷ 盈餘成長率。文獻上常以 1 作為對照基準，這裡的三組值 由你自行設定。成長率上限用來避免基期過低（例如去年只賺 0.1 元） 算出極端的倍數。
PEG = P/E ÷ earnings growth rate (%). The literature often uses 1 as a reference point; the three values here are yours to set. The growth cap keeps a very low prior-year base (last year earning NT$0.10, say) from producing an absurd multiple.
葛拉漢公式 V = EPS × (8.5 + 2g)
8.5 是葛拉漢 1962 年提出的「零成長公司」基準本益比。g 由你自行判斷輸入， 本站不替任何個股預設成長率；敏感度用來同時看 g ± 若干百分點的結果。
8.5 is the base P/E Graham observed for a no-growth company in 1962. You supply g — this site never presets a growth rate for any stock. The sensitivity setting shows g ± a few percentage points side by side.
ROE 法
g 必須小於 r，否則模型無解。
十種公式怎麼算？
1. 本益比法 —— 年化 EPS（Forward P/E）
交易所的本益比是用近四季 EPS 算的，反映過去一整年； 獲利正在成長或衰退的公司，近四季會落後於現況。這個方法改用最新一期 季報的當年度累計每股盈餘，把它年化成全年預估：
年化 EPS = 當年度累計 EPS ÷ 季別 × 4 對應價 = 年化 EPS × 你設定的本益比倍數
Q1 乘 4、Q2 乘 2、Q3 乘 4/3、Q4 就是全年。季數越少，外推成分越重， 淡旺季明顯或有一次性損益的公司容易失真，卡片上會標明是用幾季推的。 倍數與下方的近四季本益比法一樣，有歷史區間時優先採用。
各公司申報時間不同，所以每檔股票用的季別不一樣 —— 卡片標籤會直接寫
年化 · 115Q2 或 年化 · 115Q1，讓你一眼看出這個估價是用哪一期
財報推的。已送最新一季的用最新，還沒送的自動退回上一季，不會因此沒有數字。
順帶一提，近四季虧損的公司交易所不提供本益比，下方的近四季本益比法會標示不適用； 但如果它今年已經轉盈，這個年化法仍然算得出來。
2. 本益比法 —— 近四季 EPS（Trailing P/E）
對應價 = 近四季 EPS × 你設定的本益比倍數
最直覺的方法，倍數同樣在有歷史區間時優先採用。 虧損（EPS 為負或無本益比）時不適用；獲利大起大落的公司也容易失真。
3. 本益成長比（PEG Ratio）
本益比法最大的盲點是完全不理會成長性 —— 同樣 20 倍本益比，年成長 5% 與 30% 的公司價值天差地遠。PEG 把成長率放進分母：
PEG = 本益比 ÷ 盈餘成長率(%) 對應價 = 預估今年 EPS × 成長率(%) × 你設定的目標 PEG
文獻上常以 PEG = 1 作為對照基準，三組目標值由你自行設定。成長率取 「預估今年 EPS ÷ 去年全年 EPS − 1」，並設有上限（預設 40%）， 避免去年基期過低時算出離譜的目標本益比。 去年虧損或今年衰退時不適用，景氣循環股也容易在高峰期被高估。
暫時無法計算：「去年全年 EPS」在開放資料裡只提供最新一期，本站自 2026 年 10 月起自行逐期累積。 要等 2026 年年報（115Q4）存下、且 2027 年第一季季報公布後（約 2027 年 5 月），這個公式才會開始出現結果； 在那之前會標示不適用。
4. 月營收動能法（Revenue Momentum）
台股規定每月 10 日前公布上月營收，是最即時的基本面資料 —— 比季報快約 35 天（季報要等季末後 45 天）。獲利動能轉折時，月營收會先反映。
推估年營收 = 當年累計營收 ÷ 已過月數 × 12 推估年 EPS = 推估年營收 × (季報累計 EPS ÷ 季報累計營收) 對應價 = 推估年 EPS × 你設定的本益比倍數
括號那一項是「每一元營收貢獻多少每股盈餘」，由季報反推，因此不必查股數， 也自動涵蓋了稅率與業外損益的平均水準。前提是淨利率維持穩定 —— 毛利率大幅變動的公司會失準。金融保險業沒有可比的營收概念，不適用。
5. 葛拉漢公式（Graham Formula）
出自葛拉漢《The Intelligent Investor》修訂版所載的簡化算式：
V = EPS × (8.5 + 2g)
8.5 是葛拉漢 1962 年觀察到「零成長公司」的基準本益比， g 為預期年成長率（%）。
本站不替任何個股預設 g —— 它完全由你在「計算參數」中輸入， 卡片會同時列出 g ± 敏感度的三組結果，讓你直接看到假設變動的影響。 EPS 預設採用本站依季報／月營收算出的預估值，你也可以在參數區覆寫成自己的數字。
需要注意：此式是 1960 年代的經驗公式，未考慮利率環境（原著另有以 AAA 公司債 殖利率調整的版本），對高成長股會給出很高的倍數，請自行判斷適用性。
5b. 葛拉漢數字（Graham Number）—— 和上面那個不是同一件事
先講清楚差別，這兩個很容易混。上面第 5 種是葛拉漢公式， 這個是葛拉漢數字，出處相同但用途完全相反：
| 葛拉漢公式 V = EPS × (8.5 + 2g) |
估值 吃你輸入的成長率 g，g 給多少答案就差多少。 它回答「如果它照這個速度成長，值多少？」 |
| 葛拉漢數字 V = √(本益比 × 股價淨值比 × EPS × 每股淨值) |
上限 完全不含成長假設。 它回答「在不違反估值紀律的前提下，最多能付多少？」 |
葛拉漢在《The Intelligent Investor》給防禦型投資人的兩條門檻是 本益比不超過 15、股價淨值比不超過 1.5。 但這兩條分開看會有漏洞 —— 一家本益比 8 倍、股價淨值比 3 倍的公司， 兩條各過一條卻可能兩邊都不便宜。所以葛拉漢把它們合併成一條， 限制的是兩者的乘積：
本益比 × 股價淨值比 ≤ 15 × 1.5 = 22.5
而 本益比 × 股價淨值比 = (股價 ÷ EPS) × (股價 ÷ 每股淨值)
= 股價² ÷ (EPS × 每股淨值)
所以 股價 ≤ √(22.5 × EPS × 每股淨值)
右邊那個開根號就是葛拉漢數字。本站不寫死 22.5，而是直接沿用你在 「計算參數」設定的三組本益比與股價淨值比配對相乘 —— 把它們設成 15 與 1.5，就會回到葛拉漢的原始版本。
它對誰不公平：公式裡有每股淨值，所以品牌、專利、軟體這些 不進資產負債表的資產完全不算數。輕資產的軟體、IC 設計、通路公司天生就會 被它判定為「太貴」，這不是它們真的貴，是這個公式看不到它們的資產。 台股還有另一個問題 —— 它假設盈餘與淨值都是穩定的，景氣循環股在獲利高峰時 EPS 灌水，算出來的上限會跟著虛高。
6. ROE 法（股東權益報酬率法）
用公司「幫股東賺錢的效率」反推它的淨值該值多少倍。由高登成長模型推導：
合理股價淨值比 = (ROE − g) ÷ (r − g) 對應價 = 每股淨值 × 模型算出的股價淨值比
r 是你要求的年報酬率，g 是你假設的長期成長率，兩者都由你輸入。 ROE 高於 r 時模型會給出高於淨值的倍數，低於 r 時則相反； 上下限再依你設定的安全邊際計算。 ROE 必須大於 g 才有意義。
7. 股價淨值比法（P/B Ratio）
對應價 = 每股淨值 × 你選定的股價淨值比倍數
倍數在有歷史區間時優先取該股的 P20 / P50 / P80。適合資產型、獲利波動大的公司 （金融、營建、景氣循環股），因為淨值比盈餘穩定。
8. 股價營收比（P/S Ratio）
營收恆為正，所以獲利尚未轉正的公司也估得出來 —— 這是前面幾種獲利類方法完全無解的族群。
每股營收 = 推估年營收 × (季報 EPS ÷ 季報淨利) 對應價 = 每股營收 × 你選定的股價營收比倍數
括號那項等於 1 ÷ 股數（虧損時分子分母同號，仍為正），所以不必另外查股本。
本法預設不納入綜合評估。合理倍數因產業差異極大 —— 軟體與 IC 設計常在 5~10 倍，通路與代工可能低於 0.5 倍，沒有一組通用預設值。 請先參考同業水準調整參數，再勾選納入。另外它完全不看獲利能力， 營收高但長年虧損的公司會被高估，務必搭配其他方法一起看。
9. 股利法（現金股利折現）
對應價 = 每股現金股利 ÷ 你設定的目標殖利率
殖利率與價格成反比，所以最高的目標殖利率對應最低的價格。 經典做法是股利的 16 倍（6.25%）、20 倍（5%）、32 倍（3.125%）。 適合配息穩定的成熟公司；不配息或配息斷斷續續的股票不適用。
除權配股的攤薄修正
公司配發股票股利（無償配股）時股本會變大，每股盈餘與每股淨值 應該同步稀釋。但交易所在除權當天，是拿已經稀釋的股價除以 還沒重算的每股盈餘來算本益比 —— 實測倫飛、華友聯、豐藝等個股， 除權日的本益比與股價淨值比都跟著股價跳空 20~30%，每股盈餘完全沒變。
若直接採用，本站反推的 EPS 與每股淨值就會偏高，讓本益比法、股價淨值比法、 ROE 法算出的對應價一併灌水。所以只要偵測到「除權日晚於財報基準季的季末」， 本站會把 EPS 與每股淨值除以 (1 + 配股率) 還原，並在個股卡上標示。 ROE 是兩者的比值，不受攤薄影響。
兩個已知限制：同日又配股又配息的「權息」，公開資料無法把配股率 與現金股利分離，這種情況只提示不修正；歷史評價區間也同樣帶有配股斷層， 所以配股頻繁的公司，歷史區間會比實際略寬。
數字怎麼來的
所有資料都取自證交所與櫃買中心授權給政府資料開放平臺的 OpenAPI， 依「政府資料開放授權條款第 1 版」可商業使用。本站不擷取證交所網站、 公開資訊觀測站或其他網站的資料。各資料集與授權方式詳見資料來源與授權。
證交所與櫃買中心每日公布各股的收盤價、本益比、股價淨值比、現金殖利率， 本站由此推算：
EPS = 收盤價 ÷ 本益比 每股淨值 = 收盤價 ÷ 股價淨值比 ROE = EPS ÷ 每股淨值 = 股價淨值比 ÷ 本益比 現金股利 = 收盤價 × 現金殖利率
1. P/E method — annualized EPS (Forward P/E)
The exchange's P/E is computed from trailing twelve-month EPS, which reflects the past year; for a company whose earnings are growing or shrinking, that lags reality. This method instead takes the year-to-date cumulative EPS from the latest quarterly filing and annualizes it:
annualized EPS = year-to-date EPS ÷ quarter number × 4 price = annualized EPS × your P/E multiple
Q1 ×4, Q2 ×2, Q3 ×4/3, Q4 is the full year. The fewer the quarters, the more extrapolation, so companies with pronounced seasonality or one-off items are easily distorted — the card says how many quarters were used. As with the trailing version below, the multiple defaults to this stock's own historical range once one exists.
Companies file on different schedules, so the quarter used differs by
stock — the card label says annualized · 115Q2 or
annualized · 115Q1 so you can see at a glance which filing the estimate
rests on. Stocks that have filed the latest quarter use it; those that have not fall
back to the previous quarter, so there is always a number.
Incidentally, the exchange publishes no P/E for companies that lost money over the trailing four quarters, so the trailing method below reports that it does not apply — but if the company has turned profitable this year, this annualized method still works.
2. P/E method — trailing twelve months (Trailing P/E)
price = TTM EPS × your P/E multiple
The most direct method; the multiple again defaults to this stock's own historical range once one exists. It does not apply to loss-making companies (negative EPS or no published P/E), and companies with volatile earnings are easily distorted.
3. PEG ratio
The blind spot of the P/E method is that it ignores growth entirely — at the same 20x P/E, a company growing 5% a year and one growing 30% are worth wildly different amounts. PEG puts growth in the denominator:
PEG = P/E ÷ earnings growth rate (%) price = estimated EPS this year × growth rate (%) × your target PEG
The literature often uses PEG = 1 as a reference point; the three target values are yours to set. Growth is taken as "estimated EPS this year ÷ last year's full-year EPS − 1", with a cap (40% by default) so that a very low prior-year base cannot produce an absurd target P/E. It does not apply when last year was a loss or this year is shrinking, and cyclicals are easily overvalued at the peak.
Not available yet: the open-data API only provides the latest quarter, so this site has been accumulating past periods itself since October 2026. Last year's full-year EPS becomes available once the 2026 annual report is stored and the first 2027 quarter is out (around May 2027); until then this formula is marked as not applicable.
4. Monthly revenue momentum
Taiwan requires listed companies to publish the previous month's revenue by the 10th, making it the most timely fundamental data available — about 35 days ahead of the quarterly report, which is due 45 days after quarter-end. When earnings momentum turns, monthly revenue shows it first.
estimated annual revenue = year-to-date revenue ÷ months elapsed × 12 estimated annual EPS = estimated annual revenue × (cumulative EPS ÷ cumulative revenue) price = estimated annual EPS × your P/E multiple
The term in brackets is "how much EPS each dollar of revenue contributes", derived from the quarterly filing — so there is no need to look up the share count, and it automatically absorbs the average tax rate and non-operating items. It assumes the net margin stays stable, so companies whose gross margin swings will be off. Financial and insurance companies have no comparable revenue concept and are excluded.
5. Graham formula
The simplified formula from the revised edition of Graham's The Intelligent Investor:
V = EPS × (8.5 + 2g)
8.5 is the base P/E Graham observed for a no-growth company in 1962; g is the expected annual growth rate (%).
This site never presets g for any stock — you enter it under "Assumptions", and the card lists g ± your sensitivity setting so you can see directly how much the assumption moves the answer. EPS defaults to the estimate derived from quarterly filings and monthly revenue; you can override it with your own figure.
Worth noting: this is an empirical formula from the 1960s that ignores the interest-rate environment (the original also has a version adjusted by AAA corporate bond yields) and produces very high multiples for high-growth companies. Judge its applicability yourself.
5b. The Graham Number — not the same thing as the formula above
The difference first, because these two are easily confused. Method 5 above is the Graham formula; this is the Graham Number. Same author, opposite purpose:
| Graham formula V = EPS × (8.5 + 2g) |
A valuation. Driven by the growth rate you enter — change g and the answer changes with it. It answers "what is it worth if it grows at this rate?" |
| Graham Number V = √(P/E × P/B × EPS × book value) |
A ceiling. No growth assumption at all. It answers "what is the most I can pay without breaking valuation discipline?" |
In The Intelligent Investor Graham gives the defensive investor two thresholds: P/E no higher than 15 and P/B no higher than 1.5. Taken separately they leave a gap — a company at 8x earnings and 3x book passes one and fails the other, yet may be cheap on neither basis. So Graham combined them into a single constraint on the product:
P/E × P/B ≤ 15 × 1.5 = 22.5
and P/E × P/B = (price ÷ EPS) × (price ÷ book value)
= price² ÷ (EPS × book value)
so price ≤ √(22.5 × EPS × book value)
That square root is the Graham Number. This site does not hard-code 22.5 — it pairs and multiplies the three P/E and P/B multiples you set under "Assumptions". Set those to 15 and 1.5 and you get Graham's original.
Who it treats unfairly: book value is in the formula, so brands, patents and software that never reach the balance sheet count for nothing. Asset-light software, IC design and distribution companies are flagged "too expensive" by construction — not because they are expensive, but because this formula cannot see their assets. It also assumes earnings and book value are stable, so cyclicals at a profit peak carry an inflated EPS and therefore an inflated ceiling.
6. Return on equity method
Uses how efficiently a company earns for its shareholders to infer what its book value should be worth. Derived from the Gordon growth model:
fair P/B = (ROE − g) ÷ (r − g) price = book value per share × the model's P/B
r is your required annual return and g your assumed long-run growth rate; both are your inputs. When ROE exceeds r the model returns a multiple above book value, and below r the reverse; the bounds then follow from your margin of safety. ROE must exceed g for this to mean anything.
7. Price / book (P/B Ratio)
price = book value per share × your P/B multiple
Once a historical range exists, the multiple defaults to this stock's own P20 / P50 / P80. Suited to asset-heavy companies and those with volatile earnings (financials, construction, cyclicals), because book value is steadier than earnings.
8. Price / sales (P/S Ratio)
Revenue is always positive, so companies not yet profitable can still be valued — a group none of the earnings-based methods above can handle.
revenue per share = estimated annual revenue × (quarterly EPS ÷ quarterly net income) price = revenue per share × your P/S multiple
The term in brackets equals 1 ÷ share count (when loss-making, numerator and denominator share a sign, so it stays positive), which is why the share count never has to be looked up.
Excluded from the summary by default. Reasonable multiples vary enormously by industry — software and IC design often run 5–10x, distribution and contract manufacturing can be below 0.5x — and there is no universal default. Adjust the assumptions to the peer level first, then tick it in. It also ignores profitability entirely, so a company with high revenue and years of losses will be overvalued; always read it alongside the other methods.
9. Dividend method (discounted cash dividend)
price = dividend per share ÷ your target yield
Yield moves inversely to price, so the highest target yield gives the lowest price. The classic approach is 16x the dividend (6.25%), 20x (5%) and 32x (3.125%). Suited to mature companies with stable payouts; it does not apply to companies that pay nothing or pay erratically.
Adjusting for stock-dividend dilution
When a company pays a stock dividend the share count grows, so EPS and book value per share should be diluted in step. But on the ex-dividend date the exchange divides the already-diluted price by EPS that has not been restated for the new share count — testing Twinhead, Hwayu and Fartek, P/E and P/B all gapped 20–30% along with the price on the ex-date while EPS did not move at all.
Taken at face value, the EPS and book value this site derives would be too high, inflating the prices from the P/E, P/B and ROE methods alike. So whenever an ex-dividend date falls after the end of the reference fiscal quarter, this site divides EPS and book value per share by (1 + stock dividend ratio) to restore them, and flags it on the stock card. ROE is a ratio of the two and is unaffected.
Two known limits: for a combined stock-and-cash dividend on the same day, public data cannot separate the stock ratio from the cash portion, so this site flags it without correcting; and the historical valuation ranges carry the same stock-dividend discontinuities, so for frequent payers the historical range runs slightly wider than reality.
Where the numbers come from
All data comes from the open-data APIs that the TWSE and TPEx have licensed to the Government Open Data Platform, usable commercially under the Open Government Data License, version 1.0. This site does not scrape the TWSE website, the Market Observation Post System or any other site. See data sources and licensing for every dataset.
The TWSE and TPEx publish each stock's closing price, P/E, P/B and dividend yield daily, and this site derives the rest from those:
EPS = close ÷ P/E book value per share = close ÷ P/B ROE = EPS ÷ book value per share = P/B ÷ P/E dividend per share = close × dividend yield
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收錄上市與上櫃普通股，資料來自臺灣證券交易所與證券櫃檯買賣中心
Covers common stocks listed on the TWSE and TPEx, with data from the Taiwan Stock Exchange and the Taipei Exchange.