- 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) | 4.15 | 52.57 | -22.14 | 27.70 | 9.53 | -7.97 | 13.82 | 31.24 | -21.34 | 14.40 | 35.34 | -21.61 | 10.78 | 39.82 | -18.21 | 4.18 | 74.17 | -15.21 | 3.22 | 61.0 | -20.69 | 0.29 | 11.54 | -6.45 | 19.74 | 21.1 | -12.54 | 30.55 | -6.23 | 69.06 | 95.74 | -3.5 | 0.24 | 3.72 | 372.87 | -16.94 | 12.79 | -2.74 | 25.02 |
| 24Q2 (19) | 2.72 | 102.99 | -55.34 | 25.29 | 3.86 | -15.73 | 10.53 | 62.25 | -37.99 | 10.64 | 25.18 | -47.25 | 7.71 | 27.44 | -50.1 | 2.40 | 98.35 | -57.52 | 2.00 | 86.92 | -57.26 | 0.26 | 44.44 | -13.33 | 16.30 | 2.0 | -33.6 | 32.58 | 173.32 | 25.94 | 99.21 | 28.8 | 17.89 | 0.79 | -96.57 | -95.03 | 13.15 | -26.33 | 23.01 |
| 24Q1 (18) | 1.34 | 472.22 | 0.0 | 24.35 | 15.95 | -10.64 | 6.49 | 245.52 | -19.58 | 8.50 | 463.25 | -4.82 | 6.05 | 428.8 | -6.06 | 1.21 | 490.32 | -5.47 | 1.07 | 511.54 | -4.46 | 0.18 | 28.57 | 5.88 | 15.98 | 127.64 | -3.03 | 11.92 | -18.47 | -25.41 | 77.03 | -59.08 | -14.93 | 22.97 | 126.04 | 142.86 | 17.85 | 4.88 | 8.31 |
| 23Q4 (17) | -0.36 | -106.75 | -118.18 | 21.00 | -30.23 | -23.19 | -4.46 | -125.38 | -132.27 | -2.34 | -112.74 | -116.23 | -1.84 | -113.96 | -115.67 | -0.31 | -106.29 | -116.23 | -0.26 | -106.4 | -115.95 | 0.14 | -54.84 | 0.0 | 7.02 | -68.9 | -70.3 | 14.62 | -19.09 | 4.58 | 188.24 | 97.07 | 96.42 | -88.24 | -2068.33 | -2217.65 | 17.02 | 66.37 | 55.86 |
| 23Q3 (16) | 5.33 | -12.48 | -18.87 | 30.10 | 0.3 | -1.95 | 17.57 | 3.47 | -0.85 | 18.37 | -8.92 | -14.16 | 13.18 | -14.69 | -19.88 | 4.93 | -12.74 | -23.33 | 4.06 | -13.25 | -20.24 | 0.31 | 3.33 | 0.0 | 22.57 | -8.07 | -9.72 | 18.07 | -30.15 | -9.29 | 95.52 | 13.5 | 15.11 | 4.48 | -71.7 | -74.13 | 10.23 | -4.3 | -2.57 |
| 23Q2 (15) | 6.09 | 354.48 | 197.07 | 30.01 | 10.13 | 8.5 | 16.98 | 110.41 | 51.61 | 20.17 | 125.87 | 61.75 | 15.45 | 139.91 | 91.69 | 5.65 | 341.41 | 178.33 | 4.68 | 317.86 | 190.68 | 0.30 | 76.47 | 50.0 | 24.55 | 48.97 | 38.23 | 25.87 | 61.89 | -23.42 | 84.16 | -7.05 | -6.16 | 15.84 | 67.47 | 53.54 | 10.69 | -35.13 | -12.45 |
| 23Q1 (14) | 1.34 | -32.32 | 2.29 | 27.25 | -0.33 | 2.52 | 8.07 | -41.61 | -5.5 | 8.93 | -38.07 | 0.45 | 6.44 | -45.14 | 9.71 | 1.28 | -32.98 | 0.79 | 1.12 | -31.29 | 5.66 | 0.17 | 21.43 | -5.56 | 16.48 | -30.29 | 11.8 | 15.98 | 14.31 | -21.63 | 90.54 | -5.52 | -5.89 | 9.46 | 127.03 | 149.1 | 16.48 | 50.92 | 7.92 |
| 22Q4 (13) | 1.98 | -69.86 | 560.0 | 27.34 | -10.94 | 58.03 | 13.82 | -22.01 | 1618.68 | 14.42 | -32.62 | 4105.56 | 11.74 | -28.63 | 894.92 | 1.91 | -70.3 | 695.83 | 1.63 | -67.98 | 757.89 | 0.14 | -54.84 | -12.5 | 23.64 | -5.44 | 205.43 | 13.98 | -29.82 | -29.75 | 95.83 | 15.49 | -68.06 | 4.17 | -75.95 | 102.08 | 10.92 | 4.0 | -25.56 |
| 22Q3 (12) | 6.57 | 220.49 | -15.66 | 30.70 | 10.99 | -15.73 | 17.72 | 58.21 | -25.42 | 21.40 | 71.61 | -10.2 | 16.45 | 104.09 | -1.56 | 6.43 | 216.75 | -31.81 | 5.09 | 216.15 | -21.81 | 0.31 | 55.0 | -20.51 | 25.00 | 40.77 | -6.58 | 19.92 | -41.03 | -45.63 | 82.98 | -7.48 | -16.8 | 17.33 | 67.92 | 6396.96 | 10.50 | -14.0 | -2.42 |
| 22Q2 (11) | 2.05 | 56.49 | -70.63 | 27.66 | 4.06 | -30.15 | 11.20 | 31.15 | -59.51 | 12.47 | 40.27 | -56.09 | 8.06 | 37.31 | -55.0 | 2.03 | 59.84 | -76.31 | 1.61 | 51.89 | -73.03 | 0.20 | 11.11 | -39.39 | 17.76 | 20.49 | -44.17 | 33.78 | 65.67 | -37.61 | 89.68 | -6.78 | -7.85 | 10.32 | 171.69 | 285.87 | 12.21 | -20.04 | 14.97 |
| 22Q1 (10) | 1.31 | 336.67 | -77.72 | 26.58 | 53.64 | -40.7 | 8.54 | 1038.46 | -67.3 | 8.89 | 2569.44 | -67.41 | 5.87 | 397.46 | -70.56 | 1.27 | 429.17 | -82.34 | 1.06 | 457.89 | -80.3 | 0.18 | 12.5 | -33.33 | 14.74 | 90.44 | -53.49 | 20.39 | 2.46 | -40.31 | 96.20 | -67.93 | 0.27 | 3.80 | 101.9 | -14.24 | 15.27 | 4.09 | 14.9 |
| 21Q4 (9) | 0.30 | -96.15 | -93.7 | 17.30 | -52.51 | -62.62 | -0.91 | -103.83 | -103.57 | -0.36 | -101.51 | -101.41 | 1.18 | -92.94 | -94.33 | 0.24 | -97.45 | -96.17 | 0.19 | -97.08 | -95.8 | 0.16 | -58.97 | -27.27 | 7.74 | -71.08 | -75.34 | 19.90 | -45.69 | -40.06 | 300.00 | 200.8 | 200.0 | -200.00 | -75100.0 | -39500.0 | 14.67 | 36.34 | 12.67 |
| 21Q3 (8) | 7.79 | 11.6 | -32.96 | 36.43 | -8.01 | -25.5 | 23.76 | -14.1 | -32.54 | 23.83 | -16.09 | -33.57 | 16.71 | -6.7 | -39.04 | 9.43 | 10.04 | -46.42 | 6.51 | 9.05 | -43.69 | 0.39 | 18.18 | -7.14 | 26.76 | -15.88 | -31.03 | 36.64 | -32.32 | -19.26 | 99.73 | 2.47 | 1.51 | 0.27 | -90.03 | -84.77 | 10.76 | 1.32 | 22.83 |
| 21Q2 (7) | 6.98 | 18.71 | 11.5 | 39.60 | -11.65 | -13.29 | 27.66 | 5.9 | -4.98 | 28.40 | 4.11 | -7.31 | 17.91 | -10.18 | -23.2 | 8.57 | 19.19 | -17.91 | 5.97 | 10.97 | -12.46 | 0.33 | 22.22 | 13.79 | 31.81 | 0.38 | -8.49 | 54.14 | 58.49 | -11.39 | 97.33 | 1.44 | 2.47 | 2.67 | -39.62 | -46.72 | 10.62 | -20.09 | 0 |
| 21Q1 (6) | 5.88 | 23.53 | 1580.0 | 44.82 | -3.15 | 30.21 | 26.12 | 2.47 | 300.0 | 27.28 | 6.56 | 244.01 | 19.94 | -4.13 | 533.02 | 7.19 | 14.67 | 1183.93 | 5.38 | 19.03 | 1095.56 | 0.27 | 22.73 | 125.0 | 31.69 | 0.96 | 81.19 | 34.16 | 2.89 | -26.79 | 95.94 | -4.06 | 15.93 | 4.43 | 772.32 | -74.32 | 13.29 | 2.07 | -40.75 |
| 20Q4 (5) | 4.76 | -59.04 | 87.4 | 46.28 | -5.36 | 22.05 | 25.49 | -27.63 | 44.67 | 25.60 | -28.63 | 40.2 | 20.80 | -24.12 | 66.8 | 6.27 | -64.38 | 49.29 | 4.52 | -60.9 | 64.36 | 0.22 | -47.62 | 4.76 | 31.39 | -19.1 | 42.94 | 33.20 | -26.84 | -37.2 | 100.00 | 1.78 | 4.17 | 0.51 | -71.01 | -84.14 | 13.02 | 48.63 | 0 |
| 20Q3 (4) | 11.62 | 85.62 | 0.0 | 48.90 | 7.07 | 0.0 | 35.22 | 20.99 | 0.0 | 35.87 | 17.07 | 0.0 | 27.41 | 17.54 | 0.0 | 17.60 | 68.58 | 0.0 | 11.56 | 69.5 | 0.0 | 0.42 | 44.83 | 0.0 | 38.80 | 11.62 | 0.0 | 45.38 | -25.73 | 0.0 | 98.25 | 3.44 | 0.0 | 1.75 | -65.11 | 0.0 | 8.76 | 0 | 0.0 |
| 20Q2 (3) | 6.26 | 1688.57 | 0.0 | 45.67 | 32.68 | 0.0 | 29.11 | 345.79 | 0.0 | 30.64 | 286.38 | 0.0 | 23.32 | 640.32 | 0.0 | 10.44 | 1764.29 | 0.0 | 6.82 | 1415.56 | 0.0 | 0.29 | 141.67 | 0.0 | 34.76 | 98.74 | 0.0 | 61.10 | 30.95 | 0.0 | 94.98 | 14.77 | 0.0 | 5.02 | -70.9 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.35 | -86.22 | 0.0 | 34.42 | -9.23 | 0.0 | 6.53 | -62.94 | 0.0 | 7.93 | -56.57 | 0.0 | 3.15 | -74.74 | 0.0 | 0.56 | -86.67 | 0.0 | 0.45 | -83.64 | 0.0 | 0.12 | -42.86 | 0.0 | 17.49 | -20.36 | 0.0 | 46.66 | -11.75 | 0.0 | 82.76 | -13.79 | 0.0 | 17.24 | 438.79 | 0.0 | 22.43 | 0 | 0.0 |
| 19Q4 (1) | 2.54 | 0.0 | 0.0 | 37.92 | 0.0 | 0.0 | 17.62 | 0.0 | 0.0 | 18.26 | 0.0 | 0.0 | 12.47 | 0.0 | 0.0 | 4.20 | 0.0 | 0.0 | 2.75 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 21.96 | 0.0 | 0.0 | 52.87 | 0.0 | 0.0 | 96.00 | 0.0 | 0.0 | 3.20 | 0.0 | 0.0 | 0.00 | 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) | 12.41 | 4.11 | 28.13 | -1.37 | 12.23 | -9.41 | 5.48 | 4.6 | 14.02 | -8.72 | 10.36 | -8.56 | 11.45 | 0.09 | 10.04 | 2.34 | 0.97 | 12.79 | 19.67 | -5.34 | 14.62 | 4.58 | 87.21 | -0.65 | 12.79 | 4.64 | 0.57 | -29.82 | 12.56 | 4.49 |
| 2022 (9) | 11.92 | -43.08 | 28.52 | -21.32 | 13.50 | -37.59 | 5.24 | 30.55 | 15.36 | -30.84 | 11.33 | -26.38 | 11.44 | -45.73 | 9.81 | -41.81 | 0.86 | -21.1 | 20.78 | -21.26 | 13.98 | -29.75 | 87.78 | -9.83 | 12.22 | 378.55 | 0.81 | 0.54 | 12.02 | 1.35 |
| 2021 (8) | 20.94 | -8.96 | 36.25 | -21.11 | 21.63 | -23.97 | 4.02 | -6.84 | 22.21 | -24.17 | 15.39 | -31.05 | 21.08 | -35.83 | 16.86 | -27.64 | 1.09 | 4.81 | 26.39 | -22.04 | 19.90 | -40.06 | 97.35 | 0.2 | 2.55 | -10.26 | 0.81 | 51.41 | 11.86 | -1.0 |
| 2020 (7) | 23.00 | 41.98 | 45.95 | 19.23 | 28.45 | 33.01 | 4.31 | 68.63 | 29.29 | 34.91 | 22.32 | 43.44 | 32.85 | 15.1 | 23.30 | 20.35 | 1.04 | -14.75 | 33.85 | 37.16 | 33.20 | -37.2 | 97.15 | -1.43 | 2.85 | 97.66 | 0.53 | -23.59 | 11.98 | -6.63 |
| 2019 (6) | 16.20 | 12.89 | 38.54 | 8.5 | 21.39 | 14.02 | 2.56 | -1.99 | 21.71 | 11.91 | 15.56 | 13.49 | 28.54 | 6.77 | 19.36 | 6.2 | 1.22 | -6.87 | 24.68 | 9.93 | 52.87 | 13.53 | 98.56 | 1.99 | 1.44 | -57.15 | 0.70 | -24.03 | 12.83 | 5.77 |
| 2018 (5) | 14.35 | 43.36 | 35.52 | 18.72 | 18.76 | 21.74 | 2.61 | -15.48 | 19.40 | 26.47 | 13.71 | 39.33 | 26.73 | 14.04 | 18.23 | 20.73 | 1.31 | -9.03 | 22.45 | 16.5 | 46.57 | -10.85 | 96.64 | -4.0 | 3.36 | 0 | 0.92 | -20.86 | 12.13 | 15.41 |
| 2017 (4) | 10.01 | 19.88 | 29.92 | 2.08 | 15.41 | 7.76 | 3.09 | -26.2 | 15.34 | 11.73 | 9.84 | 15.63 | 23.44 | -7.35 | 15.10 | 6.71 | 1.44 | -9.43 | 19.27 | 4.5 | 52.24 | -40.06 | 100.67 | -3.27 | -0.45 | 0 | 1.16 | 0 | 10.51 | -5.91 |
| 2016 (3) | 8.35 | 7.6 | 29.31 | 4.49 | 14.30 | 4.08 | 4.18 | 32.3 | 13.73 | 3.23 | 8.51 | -1.85 | 25.30 | 3.1 | 14.15 | -0.28 | 1.59 | 0.63 | 18.44 | 8.73 | 87.16 | -0.33 | 104.08 | 0.62 | -4.08 | 0 | 0.00 | 0 | 11.17 | 5.98 |
| 2015 (2) | 7.76 | -21.22 | 28.05 | -9.75 | 13.74 | -25.73 | 3.16 | 47.52 | 13.30 | -29.29 | 8.67 | -27.02 | 24.54 | -26.44 | 14.19 | -29.68 | 1.58 | -5.95 | 16.96 | -20.11 | 87.45 | 22.67 | 103.44 | 5.07 | -3.44 | 0 | 0.00 | 0 | 10.54 | 15.44 |
| 2014 (1) | 9.85 | -19.72 | 31.08 | 0 | 18.50 | 0 | 2.14 | 27.79 | 18.81 | 0 | 11.88 | 0 | 33.36 | 0 | 20.18 | 0 | 1.68 | -13.85 | 21.23 | 4.32 | 71.29 | 14.43 | 98.45 | 2.96 | 1.55 | -64.58 | 0.00 | 0 | 9.13 | 3.75 |
