祥碩科技 [股票代號] 2026Q1 法說會簡報
Company Overview
- 公司名稱: 祥碩科技 (ASMEDIA TECHNOLOGY INC)
- 活動: 2026年第一季營運暨法人說明會
Financial Highlights
營收&毛利 (新台幣百萬元)
| 季度 | 營收 | 毛利 | 毛利率 |
|---|---|---|---|
| 25Q1 | 2,509 | 1,380 | 55.0% |
| 25Q2 | 3,393 | 1,778 | 52.4% |
| 25Q3 | 3,992 | 2,034 | 51.0% |
| 25Q4 | 3,520 | 1,813 | 51.5% |
| 26Q1 | 3,498 | 1,777 | 50.8% |
營業費用&營業利益 (新台幣百萬元)
| 季度 | 營業費用 | 營業費用率 | 營業利益 | 營業利益率 |
|---|---|---|---|---|
| 25Q1 | 628 | 25.0% | 752 | 30.0% |
| 25Q2 | 540 | 15.9% | 1,237 | 36.5% |
| 25Q3 | 872 | 21.8% | 1,162 | 29.1% |
| 25Q4 | 1,007 | 28.6% | 807 | 22.9% |
| 26Q1 | 969 | 27.7% | 808 | 23.1% |
- 營業費用組成 (26Q1): 研發 72%, 銷售, 管理
每股盈餘 (NT$)
| 季度 | EPS (NT$) |
|---|---|
| 25Q1 | 16.4 |
| 25Q2 | 15.0 |
| 25Q3 | 21.2 |
| 25Q4 | 20.1 |
| 26Q1 | 24.9 |
Business Segments
營收(產品線別) (新台幣百萬元)
| 季度 | 總營收 | Host (高速介面控制晶片) | Device (裝置端高速介面控制晶片) | Auto & Surveillance (車用監控產品) |
|---|---|---|---|---|
| 24Q1 | 1,948 | 82% | 18% | - |
| 24Q2 | 2,106 | 84% | 16% | - |
| 24Q3 | 2,127 | 84% | 16% | - |
| 24Q4 | 1,900 | 87% | 13% | - |
| 25Q1 | 2,509 | 84% | 16% | - |
| 25Q2 | 3,393 | 82% | 12% | 6% |
| 25Q3 | 3,992 | 78% | 9% | 13% |
| 25Q4 | 3,521 | 73% | 8% | 19% |
| 26Q1 | 3,498 | 77% | 6% | 17% |
Products & Technologies
技術升級帶動中長期營收及獲利成長
- 受惠長期高速傳輸 I/O 規格升級趨勢
- 年度營收 (新台幣十億元):
- 2011: 1.45
- 2012: 1.61
- 2013: 1.19
- 2014: 1.52
- 2015: 1.56
- 2016: 2.06
- 2017: 2.98
- 2018: 3.72
- 2019: 3.75
- 2020: 6.99
- 2021: 6.01
- 2022: 5.25
- 2023: 6.40
- 2024: 8.08
- 2025: 13.41
- 年度毛利%:
- 2011: 38.8%
- 2012: 40.3%
- 2013: 38.0%
- 2014: 41.8%
- 2015: 47.3%
- 2016: 47.4%
- 2017: 44.6%
- 2018: 47.2%
- 2019: 49.8%
- 2020: 51.9%
- 2021: 53.4%
- 2022: 51.7%
- 2023: 55.2%
- 2024: 54.2%
- 2025: 52.2%
- 技術發展里程碑:
- PCI:
- PCIe Gen2 (2011-2016)
- Gen3 (2017-2019)
- Gen4 (2020-2022)
- Gen5 (2023-2025)
- USB:
- 5G: *Taiwan 1st (2011-2016)
- 10G: *World 1st (2017-2019)
- 20G: *World 1st (2020-2022)
- 40G (2023-2024)
- 80G: Developing (2025)
- SATA: SATA Express (2011-2025)
- TBT4: **Third Party 1st (2023-2025)
- 註解:
- *取得USB-IF官方認證
- **取得Intel認證為唯一第三方Thunderbolt silicon
- PCI:
- 新市場的機會:
- Techpoint Acquisition
- PCIe G4 Packet Switch 48 Ln.
- PCIe G5/G6 Packet Switch
- USB 80G
Additional Data
綜合損益表 (新台幣千元)
| 項目 | 1Q26 | 4Q25 | 1Q25 | QoQ | YoY |
|---|---|---|---|---|---|
| 營業收入 | 3,497,963 (100%) | 3,520,315 (100%) | 2,509,137 (100%) | -1% | 39% |
| 營業毛利 | 1,776,625 (51%) | 1,813,437 (52%) | 1,380,166 (55%) | -2% | 29% |
| 營業費用 | (969,026) (-28%) | (1,006,705) (-29%) | (627,719) (-25%) | -4% | 54% |
| 營業淨利 | 807,599 (23%) | 806,732 (23%) | 752,447 (30%) | 0% | 7% |
| 營業外收(支) | 1,128,865 (32%) | 860,980 (24%) | 650,860 (26%) | 31% | 73% |
| 稅前淨利 | 1,936,464 (55%) | 1,667,712 (47%) | 1,403,307 (56%) | 16% | 38% |
| 所得稅費用 | (82,474) (-2%) | (168,147) (-5%) | (180,536) (-7%) | -51% | -54% |
| 稅後淨利 | 1,853,990 (53%) | 1,499,565 (43%) | 1,222,771 (49%) | 24% | 52% |
| 基本每股盈餘 | $ 24.85 | $ 20.08 | $ 16.39 |
簡式資產負債表 (新台幣千元)
| 項目 | 2023/12/31 | 2024/12/31 | 2025/12/31 | 2026/3/31 |
|---|---|---|---|---|
| 現金及約當現金 | 2,852,340 (13%) | 15,248,820 (43%) | 5,223,877 (14%) | 5,962,420 (15%) |
| 應收帳款 | 1,063,582 (5%) | 919,755 (2%) | 1,444,329 (4%) | 1,390,555 (3%) |
| 存貨 | 564,584 (3%) | 492,541 (1%) | 1,763,247 (4%) | 1,457,482 (4%) |
| 採用權益法之投資 | 13,657,281 (63%) | 17,425,201 (49%) | 17,570,669 (43%) | 18,252,224 (44%) |
| 無形資產 | 68,432 (0%) | 295,271 (1%) | 10,676,839 (26%) | 10,540,754 (25%) |
| 總資產 | 21,649,165 (100%) | 36,055,539 (100%) | 40,971,077 (100%) | 41,500,017 (100%) |
| 負債 | 2,063,376 (10%) | 2,660,996 (7%) | 4,648,408 (11%) | 4,404,988 (11%) |
| 股東權益 | 19,585,789 (90%) | 33,394,543 (93%) | 36,142,669 (88%) | 37,095,029 (89%) |
Disclaimer
- 本簡報及同時發佈之相關訊息可能含有預測性資訊,具風險及不確定性,可能造成實際結果與資訊內容有顯著差異,其不確定性包含但不限於市場風險、供應鏈風險、市場需求、產品競爭及其他風險等。
- 所有預測性資訊或展望,為本公司目前對於未來的看法,日後可能有所不同,本公司對此並不負任何更新之義務。