- 毛利率代表著產品的競爭優勢, 要和同一個產業做比較. 如果毛利率很低的話, 就要看公司的營收規模是否夠大
- 毛利率從谷底回升, 或許就是開始反轉的訊號
- 營益率代表著公司的經營效率
- 在不大幅舉債的前提下, ROE可以看出公司的經營品質
- 穩定或持續提升的毛利率和營益率十分重要, 要當心持續下滑的毛利率和營益率
- 本業收入比高的公司, 才容易預估財測, 值得花心力去研究
- 無形資產佔總資產比高的公司, 可能代表這家公司是透過併購來成長. 但如果佔比高的不合理, 則要當心
- 併購後有沒有發揮1+1>2, 營益率是一個很好的觀察指標
- 要檢視ROE上升或下滑的原因, 根據杜邦分析不外乎是利潤率, 營收, 財務槓桿的增減
- 租賃業要觀察延滯率(在銀行稱為逾放比率)的變化. 如果越來越多客戶拖延還錢(延滯率上升), 就代表接下來放款的錢也會變少(放款率下降)
| EPS QoQ YoY | 營業毛利率 QoQ YoY | 營業利益率 QoQ YoY | 稅前淨利率 QoQ YoY | 稅後淨利率 QoQ YoY | 股東權益報酬率 QoQ YoY | 資產報酬率 QoQ YoY | 總資產周轉率 QoQ YoY | EBITDA利潤率 QoQ YoY | 財務槓桿 QoQ YoY | 本業收入比 QoQ YoY | 業外獲益比 QoQ YoY | 用人費用率 QoQ YoY | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23Q4 (20) | 0.82 | 1.23 | 18.84 | 46.88 | -3.4 | 5.02 | 11.52 | 19.01 | 13.72 | 11.48 | -0.26 | 13.33 | 9.14 | -0.44 | 16.28 | 3.10 | -0.32 | 11.91 | 2.40 | 3.9 | 17.07 | 0.26 | 4.0 | 0.0 | 13.53 | -1.1 | 9.55 | 30.08 | 0.64 | -15.0 | 100.00 | 19.67 | 0.0 | 0.00 | -100.0 | 0 | 17.82 | 34.29 | -7.38 |
| 23Q3 (19) | 0.81 | -5.81 | -22.86 | 48.53 | 1.4 | 8.74 | 9.68 | -12.95 | -12.79 | 11.51 | -9.51 | -8.07 | 9.18 | -4.77 | -8.93 | 3.11 | -0.64 | -21.27 | 2.31 | -1.7 | -16.0 | 0.25 | 4.17 | -7.41 | 13.68 | -8.37 | -5.59 | 29.89 | -26.6 | -19.61 | 83.56 | -4.33 | -5.86 | 16.44 | 29.86 | 46.3 | 13.27 | 3.51 | 7.62 |
| 23Q2 (18) | 0.86 | -25.86 | -1.15 | 47.86 | 3.06 | -2.86 | 11.12 | -17.87 | 17.67 | 12.72 | -11.36 | 13.27 | 9.64 | -16.9 | -0.1 | 3.13 | -24.4 | -2.49 | 2.35 | -25.87 | 6.33 | 0.24 | -11.11 | 4.35 | 14.93 | -8.46 | 9.3 | 40.72 | 47.86 | -21.93 | 87.34 | -8.06 | 3.91 | 12.66 | 110.97 | -20.6 | 12.82 | 10.42 | -3.68 |
| 23Q1 (17) | 1.16 | 68.12 | -16.55 | 46.44 | 4.03 | 4.48 | 13.54 | 33.66 | -9.73 | 14.35 | 41.66 | -3.5 | 11.60 | 47.58 | -2.27 | 4.14 | 49.46 | -18.18 | 3.17 | 54.63 | -10.45 | 0.27 | 3.85 | -10.0 | 16.31 | 32.06 | -2.51 | 27.54 | -22.18 | -31.25 | 95.00 | -5.0 | -5.8 | 6.00 | 0 | 808.0 | 11.61 | -39.66 | 9.22 |
| 22Q4 (16) | 0.69 | -34.29 | -14.81 | 44.64 | 0.02 | 5.28 | 10.13 | -8.74 | 22.49 | 10.13 | -19.09 | 10.59 | 7.86 | -22.02 | 16.96 | 2.77 | -29.87 | -16.82 | 2.05 | -25.45 | -11.64 | 0.26 | -3.7 | -23.53 | 12.35 | -14.77 | 13.3 | 35.39 | -4.81 | -24.97 | 100.00 | 12.66 | 10.96 | 0.00 | -100.0 | -100.0 | 19.24 | 56.04 | 82.2 |
| 22Q3 (15) | 1.05 | 20.69 | -12.5 | 44.63 | -9.42 | 3.36 | 11.10 | 17.46 | -4.15 | 12.52 | 11.49 | 2.04 | 10.08 | 4.46 | -2.98 | 3.95 | 23.05 | -16.14 | 2.75 | 24.43 | -12.42 | 0.27 | 17.39 | -10.0 | 14.49 | 6.08 | 2.48 | 37.18 | -28.72 | -10.45 | 88.76 | 5.6 | -6.3 | 11.24 | -29.52 | 113.48 | 12.33 | -7.36 | 5.84 |
| 22Q2 (14) | 0.87 | -37.41 | 19.18 | 49.27 | 10.84 | 4.34 | 9.45 | -37.0 | -1.25 | 11.23 | -24.48 | 1.17 | 9.65 | -18.7 | 7.1 | 3.21 | -36.56 | 12.24 | 2.21 | -37.57 | 12.18 | 0.23 | -23.33 | 4.55 | 13.66 | -18.35 | -1.3 | 52.16 | 30.2 | -14.0 | 84.06 | -16.65 | -2.19 | 15.94 | 1981.16 | 13.37 | 13.31 | 25.21 | -11.33 |
| 22Q1 (13) | 1.39 | 71.6 | 0.0 | 44.45 | 4.83 | 1.53 | 15.00 | 81.38 | 14.33 | 14.87 | 62.34 | 6.06 | 11.87 | 76.64 | 10.42 | 5.06 | 51.95 | -0.2 | 3.54 | 52.59 | -4.84 | 0.30 | -11.76 | -14.29 | 16.73 | 53.49 | 6.29 | 40.06 | -15.07 | 18.42 | 100.85 | 11.9 | 7.68 | -0.85 | -108.58 | -113.35 | 10.63 | 0.66 | 0.28 |
| 21Q4 (12) | 0.81 | -32.5 | 39.66 | 42.40 | -1.81 | -2.71 | 8.27 | -28.58 | 5.62 | 9.16 | -25.35 | -0.54 | 6.72 | -35.32 | 13.9 | 3.33 | -29.3 | 27.1 | 2.32 | -26.11 | 22.75 | 0.34 | 13.33 | 6.25 | 10.90 | -22.91 | -1.8 | 47.17 | 13.61 | 21.26 | 90.12 | -4.87 | 7.02 | 9.88 | 87.65 | -31.76 | 10.56 | -9.36 | -11.63 |
| 21Q3 (11) | 1.20 | 64.38 | -52.94 | 43.18 | -8.56 | -3.44 | 11.58 | 21.0 | 29.39 | 12.27 | 10.54 | -54.32 | 10.39 | 15.32 | -50.38 | 4.71 | 64.69 | -52.28 | 3.14 | 59.39 | -50.94 | 0.30 | 36.36 | -3.23 | 14.14 | 2.17 | -50.95 | 41.52 | -31.54 | 8.32 | 94.74 | 10.24 | 184.21 | 5.26 | -62.57 | -92.11 | 11.65 | -22.39 | -4.27 |
| 21Q2 (10) | 0.73 | -47.48 | -35.96 | 47.22 | 7.86 | -0.21 | 9.57 | -27.06 | -26.16 | 11.10 | -20.83 | -16.85 | 9.01 | -16.19 | -12.01 | 2.86 | -43.59 | -35.73 | 1.97 | -47.04 | -30.39 | 0.22 | -37.14 | -18.52 | 13.84 | -12.07 | -10.71 | 60.65 | 79.28 | -16.06 | 85.94 | -8.24 | -11.43 | 14.06 | 121.48 | 373.44 | 15.01 | 41.6 | 32.83 |
| 21Q1 (9) | 1.39 | 139.66 | 12.1 | 43.78 | 0.46 | -8.01 | 13.12 | 67.56 | 9.42 | 14.02 | 52.23 | -12.92 | 10.75 | 82.2 | -17.81 | 5.07 | 93.51 | 4.54 | 3.72 | 96.83 | 12.39 | 0.35 | 9.37 | 40.0 | 15.74 | 41.8 | -15.1 | 33.83 | -13.03 | -26.85 | 93.65 | 11.21 | 26.43 | 6.35 | -56.13 | -74.6 | 10.60 | -11.3 | -20.48 |
| 20Q4 (8) | 0.58 | -77.25 | -23.68 | 43.58 | -2.55 | -11.35 | 7.83 | -12.51 | -10.82 | 9.21 | -65.71 | -8.54 | 5.90 | -71.82 | -33.18 | 2.62 | -73.45 | -22.71 | 1.89 | -70.47 | -17.11 | 0.32 | 3.23 | 28.0 | 11.10 | -61.5 | -11.69 | 38.90 | 1.49 | -21.1 | 84.21 | 152.63 | -4.37 | 14.47 | -78.29 | 7.75 | 11.95 | -1.81 | -17.98 |
| 20Q3 (7) | 2.55 | 123.68 | 147.57 | 44.72 | -5.49 | 7.19 | 8.95 | -30.94 | -19.0 | 26.86 | 101.2 | 130.95 | 20.94 | 104.49 | 125.4 | 9.87 | 121.8 | 139.56 | 6.40 | 126.15 | 150.0 | 0.31 | 14.81 | 14.81 | 28.83 | 86.0 | 109.37 | 38.33 | -46.95 | -25.6 | 33.33 | -65.65 | -65.06 | 66.67 | 2144.44 | 1350.0 | 12.17 | 7.7 | 0.66 |
| 20Q2 (6) | 1.14 | -8.06 | -28.3 | 47.32 | -0.57 | 13.59 | 12.96 | 8.09 | -1.89 | 13.35 | -17.08 | -9.25 | 10.24 | -21.71 | -4.66 | 4.45 | -8.25 | -26.45 | 2.83 | -14.5 | -22.89 | 0.27 | 8.0 | -20.59 | 15.50 | -16.4 | -4.02 | 72.25 | 56.22 | -2.46 | 97.03 | 30.99 | 8.4 | 2.97 | -88.12 | -71.68 | 11.30 | -15.23 | 18.08 |
| 20Q1 (5) | 1.24 | 63.16 | -37.69 | 47.59 | -3.19 | 10.96 | 11.99 | 36.56 | -26.58 | 16.10 | 59.88 | -7.15 | 13.08 | 48.13 | -0.38 | 4.85 | 43.07 | -36.77 | 3.31 | 45.18 | -29.12 | 0.25 | 0.0 | -28.57 | 18.54 | 47.49 | -1.49 | 46.25 | -6.19 | -21.42 | 74.07 | -15.88 | -21.41 | 25.00 | 86.11 | 335.0 | 13.33 | -8.51 | 58.31 |
| 19Q4 (4) | 0.76 | -26.21 | 0.0 | 49.16 | 17.83 | 0.0 | 8.78 | -20.54 | 0.0 | 10.07 | -13.41 | 0.0 | 8.83 | -4.95 | 0.0 | 3.39 | -17.72 | 0.0 | 2.28 | -10.94 | 0.0 | 0.25 | -7.41 | 0.0 | 12.57 | -8.71 | 0.0 | 49.30 | -4.31 | 0.0 | 88.06 | -7.7 | 0.0 | 13.43 | 192.16 | 0.0 | 14.57 | 20.51 | 0.0 |
| 19Q3 (3) | 1.03 | -35.22 | 0.0 | 41.72 | 0.14 | 0.0 | 11.05 | -16.35 | 0.0 | 11.63 | -20.94 | 0.0 | 9.29 | -13.5 | 0.0 | 4.12 | -31.9 | 0.0 | 2.56 | -30.25 | 0.0 | 0.27 | -20.59 | 0.0 | 13.77 | -14.74 | 0.0 | 51.52 | -30.44 | 0.0 | 95.40 | 6.58 | 0.0 | 4.60 | -56.17 | 0.0 | 12.09 | 26.33 | 0.0 |
| 19Q2 (2) | 1.59 | -20.1 | 0.0 | 41.66 | -2.87 | 0.0 | 13.21 | -19.11 | 0.0 | 14.71 | -15.17 | 0.0 | 10.74 | -18.2 | 0.0 | 6.05 | -21.12 | 0.0 | 3.67 | -21.41 | 0.0 | 0.34 | -2.86 | 0.0 | 16.15 | -14.19 | 0.0 | 74.07 | 25.84 | 0.0 | 89.51 | -5.03 | 0.0 | 10.49 | 82.52 | 0.0 | 9.57 | 13.66 | 0.0 |
| 19Q1 (1) | 1.99 | 0.0 | 0.0 | 42.89 | 0.0 | 0.0 | 16.33 | 0.0 | 0.0 | 17.34 | 0.0 | 0.0 | 13.13 | 0.0 | 0.0 | 7.67 | 0.0 | 0.0 | 4.67 | 0.0 | 0.0 | 0.35 | 0.0 | 0.0 | 18.82 | 0.0 | 0.0 | 58.86 | 0.0 | 0.0 | 94.25 | 0.0 | 0.0 | 5.75 | 0.0 | 0.0 | 8.42 | 0.0 | 0.0 |
| EPS YoY | 營業毛利率 YoY | 營業利益率 YoY | 折舊負擔比率 YoY | 稅前淨利率 YoY | 稅後淨利率 YoY | 股東權益報酬率 YoY | 資產報酬率 YoY | 總資產周轉率 YoY | EBITDA利潤率 YoY | 財務槓桿 YoY | 本業收入比 YoY | 業外獲益比 YoY | 無形資產佔總資產比 YoY | 用人費用率 YoY | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 (10) | 3.65 | -8.98 | 47.40 | 3.95 | 11.52 | -0.86 | 1.38 | 3.58 | 12.55 | 1.7 | 9.93 | -0.4 | 13.38 | -10.32 | 10.13 | -4.7 | 1.02 | -3.77 | 14.64 | 1.46 | 30.08 | -15.0 | 91.77 | -2.57 | 8.23 | 41.59 | 2.66 | -17.84 | 13.86 | 1.09 |
| 2022 (9) | 4.01 | -3.14 | 45.60 | 3.92 | 11.62 | 8.4 | 1.33 | 6.93 | 12.34 | 5.56 | 9.97 | 8.25 | 14.92 | -5.15 | 10.63 | -3.8 | 1.06 | -10.92 | 14.43 | 5.87 | 35.39 | -24.97 | 94.19 | 2.57 | 5.81 | -28.88 | 3.24 | -15.62 | 13.71 | 17.58 |
| 2021 (8) | 4.14 | -24.86 | 43.88 | -3.96 | 10.72 | 4.08 | 1.24 | -7.3 | 11.69 | -28.89 | 9.21 | -26.61 | 15.73 | -25.45 | 11.05 | -24.88 | 1.19 | 1.71 | 13.63 | -26.48 | 47.17 | 21.26 | 91.83 | 46.63 | 8.17 | -78.13 | 3.84 | -18.38 | 11.66 | -4.03 |
| 2020 (7) | 5.51 | 2.61 | 45.69 | 4.99 | 10.30 | -19.41 | 1.34 | 19.6 | 16.44 | 18.27 | 12.55 | 16.74 | 21.10 | -1.03 | 14.71 | 9.94 | 1.17 | -4.88 | 18.54 | 17.94 | 38.90 | -21.1 | 62.62 | -31.88 | 37.38 | 363.26 | 4.70 | -11.25 | 12.15 | 12.81 |
| 2019 (6) | 5.37 | 8.27 | 43.52 | 0.05 | 12.78 | 5.45 | 1.12 | 19.47 | 13.90 | -0.71 | 10.75 | 0.66 | 21.32 | 1.04 | 13.38 | 1.06 | 1.23 | 0.0 | 15.72 | -5.19 | 49.30 | -32.34 | 91.93 | 6.15 | 8.07 | -39.78 | 5.30 | -3.16 | 10.77 | 1.32 |
| 2018 (5) | 4.96 | 58.47 | 43.50 | -1.49 | 12.12 | 19.76 | 0.94 | -50.04 | 14.00 | 9.63 | 10.68 | 7.34 | 21.10 | 38.45 | 13.24 | 28.42 | 1.23 | 19.42 | 16.58 | 1.41 | 72.86 | 58.7 | 86.60 | 8.99 | 13.40 | -35.99 | 5.47 | 0 | 10.63 | -13.72 |
| 2017 (4) | 3.13 | 2.96 | 44.16 | -5.03 | 10.12 | 0.2 | 1.88 | 7.9 | 12.77 | 4.5 | 9.95 | 2.37 | 15.24 | -8.69 | 10.31 | -6.27 | 1.03 | -7.21 | 16.35 | 2.83 | 45.91 | -13.12 | 79.46 | -3.81 | 20.93 | 20.35 | 0.00 | 0 | 12.32 | 2.67 |
| 2016 (3) | 3.04 | 11.36 | 46.50 | 2.63 | 10.10 | 11.48 | 1.74 | 11.47 | 12.22 | 14.42 | 9.72 | 19.7 | 16.69 | 16.63 | 11.00 | 18.41 | 1.11 | -2.63 | 15.90 | 12.37 | 52.84 | -8.17 | 82.61 | -2.71 | 17.39 | 15.22 | 0.00 | 0 | 12.00 | 0.33 |
| 2015 (2) | 2.73 | 27.57 | 45.31 | -1.5 | 9.06 | 14.25 | 1.56 | 3.8 | 10.68 | 13.62 | 8.12 | 8.99 | 14.31 | 24.0 | 9.29 | 18.34 | 1.14 | 8.57 | 14.15 | 22.72 | 57.54 | 8.98 | 84.91 | 0.28 | 15.09 | -1.56 | 0.00 | 0 | 11.96 | 6.69 |
| 2014 (1) | 2.14 | -42.47 | 46.00 | 0 | 7.93 | 0 | 1.50 | 20.38 | 9.40 | 0 | 7.45 | 0 | 11.54 | 0 | 7.85 | 0 | 1.05 | -10.26 | 11.53 | -32.02 | 52.80 | 28.91 | 84.67 | 86.43 | 15.33 | -71.91 | 0.00 | 0 | 11.21 | -0.88 |
