- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q3 (20) | 0.69 | 23.21 | -51.41 | 18.48 | -10.9 | -4.15 | 12.60 | -12.26 | 2.52 | 28.69 | 27.45 | -55.73 | 25.92 | 36.71 | -58.38 | 2.05 | 21.3 | -60.42 | 1.69 | 20.71 | -58.78 | 0.06 | -14.29 | -14.29 | 32.30 | 25.83 | -52.51 | 20.83 | -18.63 | -14.53 | 43.95 | -31.0 | 131.97 | 56.05 | 54.39 | -30.85 | 9.70 | 11.11 | -3.77 |
| 24Q2 (19) | 0.56 | 51.35 | -9.68 | 20.74 | 3.24 | 3.75 | 14.36 | 11.32 | 14.33 | 22.51 | 22.34 | -16.1 | 18.96 | 42.13 | -13.78 | 1.69 | 53.64 | -11.05 | 1.40 | 50.54 | -7.28 | 0.07 | 0.0 | 0.0 | 25.67 | 19.23 | -14.32 | 25.60 | 19.91 | -16.18 | 63.69 | -9.12 | 36.11 | 36.31 | 21.36 | -31.76 | 8.73 | -22.81 | -9.35 |
| 24Q1 (18) | 0.37 | -45.59 | -11.9 | 20.09 | -3.55 | 7.03 | 12.90 | -9.35 | 22.16 | 18.40 | -25.69 | 7.04 | 13.34 | -39.36 | -12.64 | 1.10 | -47.62 | -14.73 | 0.93 | -46.24 | -11.43 | 0.07 | -12.5 | 0.0 | 21.53 | -21.68 | 4.87 | 21.35 | -12.14 | -22.22 | 70.09 | 21.63 | 13.8 | 29.91 | -29.72 | -22.76 | 11.31 | 28.82 | -4.07 |
| 23Q4 (17) | 0.68 | -52.11 | -26.88 | 20.83 | 8.04 | -3.52 | 14.23 | 15.79 | -2.33 | 24.76 | -61.79 | -38.8 | 22.00 | -64.68 | -39.51 | 2.10 | -59.46 | -38.95 | 1.73 | -57.8 | -35.45 | 0.08 | 14.29 | 14.29 | 27.49 | -59.59 | -36.69 | 24.30 | -0.29 | -16.78 | 57.62 | 204.14 | 60.15 | 42.57 | -47.49 | -33.51 | 8.78 | -12.9 | 36.12 |
| 23Q3 (16) | 1.42 | 129.03 | 125.4 | 19.28 | -3.55 | 3.71 | 12.29 | -2.15 | 11.12 | 64.80 | 141.52 | 150.29 | 62.28 | 183.22 | 161.9 | 5.18 | 172.63 | 150.24 | 4.10 | 171.52 | 156.25 | 0.07 | 0.0 | 0.0 | 68.02 | 127.04 | 134.55 | 24.37 | -20.2 | -21.36 | 18.95 | -59.51 | -55.57 | 81.05 | 52.35 | 41.85 | 10.08 | 4.67 | -1.75 |
| 23Q2 (15) | 0.62 | 47.62 | 21.57 | 19.99 | 6.5 | 11.8 | 12.56 | 18.94 | 20.77 | 26.83 | 56.08 | 21.24 | 21.99 | 44.01 | 13.29 | 1.90 | 47.29 | 15.85 | 1.51 | 43.81 | 17.05 | 0.07 | 0.0 | 16.67 | 29.96 | 45.93 | 19.08 | 30.54 | 11.26 | -6.89 | 46.80 | -24.02 | -0.49 | 53.20 | 37.37 | 0.44 | 9.63 | -18.32 | -11.33 |
| 23Q1 (14) | 0.42 | -54.84 | -60.38 | 18.77 | -13.06 | -1.57 | 10.56 | -27.52 | -5.71 | 17.19 | -57.51 | -63.86 | 15.27 | -58.01 | -66.36 | 1.29 | -62.5 | -62.5 | 1.05 | -60.82 | -61.11 | 0.07 | 0.0 | 16.67 | 20.53 | -52.72 | -59.73 | 27.45 | -5.99 | -1.72 | 61.59 | 71.17 | 161.03 | 38.73 | -39.5 | -49.31 | 11.79 | 82.79 | -0.92 |
| 22Q4 (13) | 0.93 | 47.62 | 69.09 | 21.59 | 16.14 | 5.37 | 14.57 | 31.74 | -1.69 | 40.46 | 56.28 | 71.44 | 36.37 | 52.94 | 71.31 | 3.44 | 66.18 | 81.05 | 2.68 | 67.5 | 78.67 | 0.07 | 0.0 | 0.0 | 43.42 | 49.72 | 61.41 | 29.20 | -5.78 | -0.92 | 35.98 | -15.62 | -42.71 | 64.02 | 12.03 | 72.13 | 6.45 | -37.13 | -21.72 |
| 22Q3 (12) | 0.63 | 23.53 | 110.0 | 18.59 | 3.97 | 5.15 | 11.06 | 6.35 | 5.53 | 25.89 | 16.99 | 56.62 | 23.78 | 22.51 | 72.07 | 2.07 | 26.22 | 97.14 | 1.60 | 24.03 | 88.24 | 0.07 | 16.67 | 16.67 | 29.00 | 15.26 | 44.28 | 30.99 | -5.52 | 11.51 | 42.64 | -9.33 | -32.67 | 57.14 | 7.87 | 55.84 | 10.26 | -5.52 | -9.28 |
| 22Q2 (11) | 0.51 | -51.89 | 10.87 | 17.88 | -6.24 | -3.56 | 10.40 | -7.14 | -5.63 | 22.13 | -53.47 | -3.32 | 19.41 | -57.24 | -8.57 | 1.64 | -52.33 | 1.23 | 1.29 | -52.22 | -0.77 | 0.06 | 0.0 | 0.0 | 25.16 | -50.65 | -4.26 | 32.80 | 17.44 | 22.39 | 47.03 | 99.32 | -2.15 | 52.97 | -30.67 | 1.99 | 10.86 | -8.74 | -6.06 |
| 22Q1 (10) | 1.06 | 92.73 | 202.86 | 19.07 | -6.93 | 9.53 | 11.20 | -24.43 | 13.94 | 47.56 | 101.53 | 164.81 | 45.39 | 113.8 | 175.76 | 3.44 | 81.05 | 175.2 | 2.70 | 80.0 | 167.33 | 0.06 | -14.29 | 0.0 | 50.98 | 89.52 | 139.91 | 27.93 | -5.23 | 2.23 | 23.59 | -62.43 | -56.97 | 76.41 | 105.44 | 69.14 | 11.90 | 44.42 | 1.88 |
| 21Q4 (9) | 0.55 | 83.33 | -3.51 | 20.49 | 15.89 | 7.56 | 14.82 | 41.41 | 19.61 | 23.60 | 42.77 | -11.04 | 21.23 | 53.62 | -13.77 | 1.90 | 80.95 | -7.77 | 1.50 | 76.47 | -7.98 | 0.07 | 16.67 | 0.0 | 26.90 | 33.83 | -8.75 | 29.47 | 6.05 | 4.1 | 62.81 | -0.83 | 34.17 | 37.19 | 1.43 | -30.39 | 8.24 | -27.14 | -12.62 |
| 21Q3 (8) | 0.30 | -34.78 | -50.0 | 17.68 | -4.64 | 4.06 | 10.48 | -4.9 | 13.42 | 16.53 | -27.79 | -42.46 | 13.82 | -34.9 | -54.67 | 1.05 | -35.19 | -52.91 | 0.85 | -34.62 | -50.87 | 0.06 | 0.0 | 0.0 | 20.10 | -23.52 | -36.97 | 27.79 | 3.69 | -4.4 | 63.33 | 31.78 | 96.33 | 36.67 | -29.41 | -45.87 | 11.31 | -2.16 | -2.16 |
| 21Q2 (7) | 0.46 | 31.43 | -30.3 | 18.54 | 6.49 | 10.1 | 11.02 | 12.11 | 27.84 | 22.89 | 27.45 | -34.34 | 21.23 | 28.98 | -35.12 | 1.62 | 29.6 | -34.94 | 1.30 | 28.71 | -32.64 | 0.06 | 0.0 | 0.0 | 26.28 | 23.67 | -30.64 | 26.80 | -1.9 | -18.74 | 48.06 | -12.34 | 94.75 | 51.94 | 14.98 | -31.04 | 11.56 | -1.03 | -8.11 |
| 21Q1 (6) | 0.35 | -38.6 | 400.0 | 17.41 | -8.61 | 29.54 | 9.83 | -20.66 | 82.71 | 17.96 | -32.3 | 345.66 | 16.46 | -33.14 | 328.65 | 1.25 | -39.32 | 362.96 | 1.01 | -38.04 | 320.83 | 0.06 | -14.29 | 20.0 | 21.25 | -27.92 | 189.51 | 27.32 | -3.5 | -5.7 | 54.83 | 17.12 | -58.27 | 45.17 | -15.45 | 235.52 | 11.68 | 23.86 | 2.55 |
| 20Q4 (5) | 0.57 | -5.0 | -14.93 | 19.05 | 12.12 | 25.33 | 12.39 | 34.09 | 63.67 | 26.53 | -7.66 | -17.79 | 24.62 | -19.25 | -18.31 | 2.06 | -7.62 | -15.57 | 1.63 | -5.78 | -15.1 | 0.07 | 16.67 | 16.67 | 29.48 | -7.56 | -15.96 | 28.31 | -2.61 | -3.28 | 46.81 | 45.12 | 99.6 | 53.43 | -21.13 | -30.2 | 9.43 | -18.43 | 11.33 |
| 20Q3 (4) | 0.60 | -9.09 | 0.0 | 16.99 | 0.89 | 0.0 | 9.24 | 7.19 | 0.0 | 28.73 | -17.58 | 0.0 | 30.49 | -6.82 | 0.0 | 2.23 | -10.44 | 0.0 | 1.73 | -10.36 | 0.0 | 0.06 | 0.0 | 0.0 | 31.89 | -15.84 | 0.0 | 29.07 | -11.86 | 0.0 | 32.26 | 30.72 | 0.0 | 67.74 | -10.06 | 0.0 | 11.56 | -8.11 | 0.0 |
| 20Q2 (3) | 0.66 | 842.86 | 0.0 | 16.84 | 25.3 | 0.0 | 8.62 | 60.22 | 0.0 | 34.86 | 765.01 | 0.0 | 32.72 | 752.08 | 0.0 | 2.49 | 822.22 | 0.0 | 1.93 | 704.17 | 0.0 | 0.06 | 20.0 | 0.0 | 37.89 | 416.21 | 0.0 | 32.98 | 13.84 | 0.0 | 24.68 | -81.22 | 0.0 | 75.32 | 325.97 | 0.0 | 12.58 | 10.45 | 0.0 |
| 20Q1 (2) | 0.07 | -89.55 | 0.0 | 13.44 | -11.58 | 0.0 | 5.38 | -28.93 | 0.0 | 4.03 | -87.51 | 0.0 | 3.84 | -87.26 | 0.0 | 0.27 | -88.93 | 0.0 | 0.24 | -87.5 | 0.0 | 0.05 | -16.67 | 0.0 | 7.34 | -79.08 | 0.0 | 28.97 | -1.02 | 0.0 | 131.37 | 460.12 | 0.0 | -33.33 | -143.55 | 0.0 | 11.39 | 34.47 | 0.0 |
| 19Q4 (1) | 0.67 | 0.0 | 0.0 | 15.20 | 0.0 | 0.0 | 7.57 | 0.0 | 0.0 | 32.27 | 0.0 | 0.0 | 30.14 | 0.0 | 0.0 | 2.44 | 0.0 | 0.0 | 1.92 | 0.0 | 0.0 | 0.06 | 0.0 | 0.0 | 35.08 | 0.0 | 0.0 | 29.27 | 0.0 | 0.0 | 23.45 | 0.0 | 0.0 | 76.55 | 0.0 | 0.0 | 8.47 | 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) | 3.13 | 0.32 | 19.77 | 2.12 | 12.49 | 4.78 | 2.33 | -5.94 | 33.10 | -2.01 | 30.08 | -2.81 | 10.62 | -0.47 | 8.54 | 1.91 | 0.28 | 3.7 | 36.20 | -1.87 | 24.30 | -16.78 | 37.71 | 6.85 | 62.25 | -3.79 | 0.04 | -9.56 | 10.01 | 3.3 |
| 2022 (9) | 3.12 | 87.95 | 19.36 | 3.97 | 11.92 | 2.05 | 2.48 | -12.85 | 33.78 | 65.59 | 30.95 | 68.85 | 10.67 | 82.71 | 8.38 | 81.39 | 0.27 | 8.0 | 36.89 | 55.07 | 29.20 | -0.92 | 35.29 | -38.36 | 64.71 | 51.39 | 0.04 | 35.36 | 9.69 | -8.5 |
| 2021 (8) | 1.66 | -13.09 | 18.62 | 11.36 | 11.68 | 28.49 | 2.85 | 14.38 | 20.40 | -14.68 | 18.33 | -21.06 | 5.84 | -14.49 | 4.62 | -14.6 | 0.25 | 8.7 | 23.79 | -11.95 | 29.47 | 4.1 | 57.26 | 50.75 | 42.74 | -31.0 | 0.03 | -3.96 | 10.59 | -5.19 |
| 2020 (7) | 1.91 | 9.77 | 16.72 | 42.66 | 9.09 | 166.57 | 2.49 | -3.45 | 23.91 | -0.17 | 23.22 | 1.8 | 6.83 | 7.56 | 5.41 | 6.5 | 0.23 | 4.55 | 27.02 | -0.7 | 28.31 | -3.28 | 37.98 | 166.31 | 61.94 | -27.76 | 0.03 | -2.91 | 11.17 | 2.38 |
| 2019 (6) | 1.74 | 7.41 | 11.72 | -1.84 | 3.41 | -10.73 | 2.58 | 38.43 | 23.95 | 1.53 | 22.81 | 3.73 | 6.35 | 5.66 | 5.08 | 4.1 | 0.22 | 0.0 | 27.21 | 4.9 | 29.27 | 9.91 | 14.26 | -12.09 | 85.74 | 2.34 | 0.03 | -14.24 | 10.91 | -3.96 |
| 2018 (5) | 1.62 | -25.0 | 11.94 | -2.21 | 3.82 | 12.02 | 1.86 | -19.61 | 23.59 | -27.08 | 21.99 | -30.28 | 6.01 | -27.42 | 4.88 | -27.81 | 0.22 | 4.76 | 25.94 | -26.14 | 26.63 | 12.13 | 16.22 | 54.12 | 83.78 | -6.37 | 0.04 | 0 | 11.36 | -7.49 |
| 2017 (4) | 2.16 | -19.4 | 12.21 | -12.16 | 3.41 | -40.8 | 2.32 | -10.81 | 32.35 | -15.93 | 31.54 | -13.4 | 8.28 | -20.31 | 6.76 | -19.71 | 0.21 | -8.7 | 35.12 | -15.33 | 23.75 | -1.45 | 10.53 | -29.6 | 89.47 | 5.27 | 0.00 | 0 | 12.28 | 2.42 |
| 2016 (3) | 2.68 | 20.72 | 13.90 | 33.53 | 5.76 | 71.43 | 2.60 | -0.69 | 38.48 | 35.02 | 36.42 | 36.0 | 10.39 | 19.43 | 8.42 | 18.76 | 0.23 | -11.54 | 41.48 | 32.06 | 24.10 | -2.86 | 14.95 | 27.22 | 84.99 | -3.62 | 0.00 | 0 | 11.99 | 19.3 |
| 2015 (2) | 2.22 | -1.77 | 10.41 | 11.34 | 3.36 | 9.45 | 2.61 | 16.14 | 28.50 | 13.01 | 26.78 | 12.57 | 8.70 | -4.71 | 7.09 | -5.47 | 0.26 | -16.13 | 31.41 | 12.78 | 24.81 | 9.34 | 11.75 | -3.61 | 88.18 | 0.35 | 0.00 | 0 | 10.05 | 5.57 |
| 2014 (1) | 2.26 | 22.83 | 9.35 | 0 | 3.07 | 0 | 2.25 | -5.0 | 25.22 | 0 | 23.79 | 0 | 9.13 | 0 | 7.50 | 0 | 0.31 | 0.0 | 27.85 | 13.72 | 22.69 | 2.86 | 12.19 | 13.81 | 87.87 | -1.58 | 0.00 | 0 | 9.52 | -3.84 |
