- 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) | 5.65 | 14.37 | 17.71 | 32.06 | -0.71 | -2.94 | 17.33 | 2.91 | 2.54 | 17.57 | 0.75 | 0.4 | 13.82 | 3.37 | 2.07 | 6.31 | 9.74 | 10.51 | 4.79 | 10.88 | 7.4 | 0.34 | 6.25 | 3.03 | 18.90 | 0.05 | -0.84 | 31.64 | -6.83 | 23.45 | 98.72 | 2.05 | 2.19 | 1.28 | -60.81 | -62.37 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 4.94 | -2.76 | 8.33 | 32.29 | -0.34 | -5.2 | 16.84 | -1.75 | -6.76 | 17.44 | -1.25 | -5.32 | 13.37 | -2.41 | -4.23 | 5.75 | 0.52 | 0.7 | 4.32 | -3.14 | 1.17 | 0.32 | 0.0 | 3.23 | 18.89 | -0.89 | -5.97 | 33.96 | 2.07 | 6.13 | 96.74 | -0.36 | -1.33 | 3.26 | 12.09 | 66.3 | 10.16 | -0.39 | -3.33 |
| 24Q1 (18) | 5.08 | 14.93 | 14.16 | 32.40 | 0.71 | -3.31 | 17.14 | 9.87 | -3.27 | 17.66 | 10.44 | -0.11 | 13.70 | 11.56 | 2.54 | 5.72 | 11.5 | 9.79 | 4.46 | 8.25 | 12.63 | 0.32 | -3.03 | 10.34 | 19.06 | 8.98 | -1.45 | 33.27 | 37.76 | -6.39 | 97.09 | -0.55 | -2.91 | 2.91 | 22.67 | 798.18 | 10.20 | -2.95 | -4.58 |
| 23Q4 (17) | 4.42 | -7.92 | 3.03 | 32.17 | -2.6 | -4.2 | 15.60 | -7.69 | -11.21 | 15.99 | -8.63 | 1.07 | 12.28 | -9.31 | -0.41 | 5.13 | -10.16 | -4.29 | 4.12 | -7.62 | 0.98 | 0.33 | 0.0 | 0.0 | 17.49 | -8.24 | 1.22 | 24.15 | -5.77 | -17.46 | 97.63 | 1.06 | -12.42 | 2.37 | -30.17 | 121.43 | 10.51 | 3.24 | -8.13 |
| 23Q3 (16) | 4.80 | 5.26 | 11.63 | 33.03 | -3.02 | -1.34 | 16.90 | -6.42 | -2.65 | 17.50 | -4.99 | -1.19 | 13.54 | -3.01 | -1.02 | 5.71 | 0.0 | 4.2 | 4.46 | 4.45 | 9.58 | 0.33 | 6.45 | 10.0 | 19.06 | -5.13 | -1.24 | 25.63 | -19.91 | -26.71 | 96.60 | -1.46 | -1.33 | 3.40 | 73.21 | 62.34 | 10.18 | -3.14 | -5.21 |
| 23Q2 (15) | 4.56 | 2.47 | 11.76 | 34.06 | 1.64 | -3.05 | 18.06 | 1.92 | -0.66 | 18.42 | 4.19 | 0.27 | 13.96 | 4.49 | -1.27 | 5.71 | 9.6 | 5.94 | 4.27 | 7.83 | 6.75 | 0.31 | 6.9 | 10.71 | 20.09 | 3.88 | -0.54 | 32.00 | -9.96 | -9.94 | 98.04 | -1.96 | -0.64 | 1.96 | 570.59 | 120.59 | 10.51 | -1.68 | -10.4 |
| 23Q1 (14) | 4.45 | 3.73 | 0.45 | 33.51 | -0.21 | -7.71 | 17.72 | 0.85 | -8.99 | 17.68 | 11.76 | -9.43 | 13.36 | 8.35 | -10.75 | 5.21 | -2.8 | -7.3 | 3.96 | -2.94 | -8.33 | 0.29 | -12.12 | 0.0 | 19.34 | 11.92 | -9.5 | 35.54 | 21.46 | 2.48 | 100.00 | -10.29 | 0.0 | -0.42 | 96.23 | -199.58 | 10.69 | -6.56 | -9.64 |
| 22Q4 (13) | 4.29 | -0.23 | -11.91 | 33.58 | 0.3 | -7.67 | 17.57 | 1.21 | -11.13 | 15.82 | -10.67 | -19.49 | 12.33 | -9.87 | -18.24 | 5.36 | -2.19 | -19.16 | 4.08 | 0.25 | -21.69 | 0.33 | 10.0 | -2.94 | 17.28 | -10.47 | -18.14 | 29.26 | -16.33 | 10.96 | 111.48 | 13.86 | 10.69 | -11.07 | -628.93 | -1460.25 | 11.44 | 6.52 | -1.46 |
| 22Q3 (12) | 4.30 | 5.39 | 9.41 | 33.48 | -4.7 | -4.59 | 17.36 | -4.51 | -8.97 | 17.71 | -3.59 | -7.08 | 13.68 | -3.25 | -4.0 | 5.48 | 1.67 | -3.18 | 4.07 | 1.75 | -6.44 | 0.30 | 7.14 | 0.0 | 19.30 | -4.46 | -6.81 | 34.97 | -1.58 | 19.15 | 97.91 | -0.77 | -2.09 | 2.09 | 135.36 | 0 | 10.74 | -8.44 | -2.1 |
| 22Q2 (11) | 4.08 | -7.9 | 12.09 | 35.13 | -3.25 | -3.28 | 18.18 | -6.63 | 2.83 | 18.37 | -5.89 | 3.84 | 14.14 | -5.54 | 3.36 | 5.39 | -4.09 | 7.8 | 4.00 | -7.41 | 7.82 | 0.28 | -3.45 | 3.7 | 20.20 | -5.47 | 3.06 | 35.53 | 2.45 | 11.98 | 98.67 | -1.33 | -1.33 | 0.89 | 112.44 | 0 | 11.73 | -0.85 | -6.61 |
| 22Q1 (10) | 4.43 | -9.03 | -1.12 | 36.31 | -0.16 | -2.39 | 19.47 | -1.52 | -2.21 | 19.52 | -0.66 | -3.32 | 14.97 | -0.73 | -1.38 | 5.62 | -15.23 | -5.39 | 4.32 | -17.08 | -3.79 | 0.29 | -14.71 | 0.0 | 21.37 | 1.23 | -2.95 | 34.68 | 31.51 | -10.96 | 100.00 | -0.7 | 1.27 | 0.42 | 159.0 | -66.53 | 11.83 | 1.89 | 0.77 |
| 21Q4 (9) | 4.87 | 23.92 | 11.7 | 36.37 | 3.65 | 0.0 | 19.77 | 3.67 | 3.94 | 19.65 | 3.1 | 1.08 | 15.08 | 5.82 | 3.43 | 6.63 | 17.14 | 11.62 | 5.21 | 19.77 | 7.64 | 0.34 | 13.33 | 3.03 | 21.11 | 1.93 | 0.19 | 26.37 | -10.15 | -3.19 | 100.71 | 0.71 | 3.26 | -0.71 | 0 | -134.47 | 11.61 | 5.83 | 3.66 |
| 21Q3 (8) | 3.93 | 7.97 | -18.63 | 35.09 | -3.39 | -3.47 | 19.07 | 7.86 | -5.08 | 19.06 | 7.74 | -7.34 | 14.25 | 4.17 | -11.87 | 5.66 | 13.2 | -17.85 | 4.35 | 17.25 | -21.2 | 0.30 | 11.11 | -11.76 | 20.71 | 5.66 | -6.25 | 29.35 | -7.5 | 54.47 | 100.00 | 0.0 | 2.04 | 0.00 | 0 | -100.0 | 10.97 | -12.66 | 3.39 |
| 21Q2 (7) | 3.64 | -18.75 | 2.25 | 36.32 | -2.37 | 5.09 | 17.68 | -11.2 | 5.62 | 17.69 | -12.38 | 4.0 | 13.68 | -9.88 | 2.4 | 5.00 | -15.82 | 6.38 | 3.71 | -17.37 | -1.85 | 0.27 | -6.9 | -3.57 | 19.60 | -10.99 | 3.87 | 31.73 | -18.54 | -1.03 | 100.00 | 1.27 | 1.78 | 0.00 | -100.0 | -100.0 | 12.56 | 6.98 | 0 |
| 21Q1 (6) | 4.48 | 2.75 | 37.42 | 37.20 | 2.28 | 2.76 | 19.91 | 4.68 | 16.91 | 20.19 | 3.86 | 13.55 | 15.18 | 4.12 | 11.78 | 5.94 | 0.0 | 43.83 | 4.49 | -7.23 | 29.77 | 0.29 | -12.12 | 16.0 | 22.02 | 4.51 | 9.88 | 38.95 | 42.99 | 117.48 | 98.75 | 1.25 | 3.27 | 1.25 | -39.25 | -71.43 | 11.74 | 4.82 | -11.86 |
| 20Q4 (5) | 4.36 | -9.73 | 18.16 | 36.37 | 0.06 | -2.99 | 19.02 | -5.33 | 3.76 | 19.44 | -5.49 | 5.54 | 14.58 | -9.83 | 6.04 | 5.94 | -13.79 | 11.03 | 4.84 | -12.32 | 8.52 | 0.33 | -2.94 | 3.13 | 21.07 | -4.62 | 4.05 | 27.24 | 43.37 | 25.65 | 97.53 | -0.48 | -1.99 | 2.06 | -14.27 | 317.7 | 11.20 | 5.56 | -5.33 |
| 20Q3 (4) | 4.83 | 35.67 | 0.0 | 36.35 | 5.18 | 0.0 | 20.09 | 20.01 | 0.0 | 20.57 | 20.93 | 0.0 | 16.17 | 21.03 | 0.0 | 6.89 | 46.6 | 0.0 | 5.52 | 46.03 | 0.0 | 0.34 | 21.43 | 0.0 | 22.09 | 17.06 | 0.0 | 19.00 | -40.74 | 0.0 | 98.00 | -0.26 | 0.0 | 2.40 | 37.6 | 0.0 | 10.61 | 0 | 0.0 |
| 20Q2 (3) | 3.56 | 9.2 | 0.0 | 34.56 | -4.53 | 0.0 | 16.74 | -1.7 | 0.0 | 17.01 | -4.33 | 0.0 | 13.36 | -1.62 | 0.0 | 4.70 | 13.8 | 0.0 | 3.78 | 9.25 | 0.0 | 0.28 | 12.0 | 0.0 | 18.87 | -5.84 | 0.0 | 32.06 | 79.01 | 0.0 | 98.26 | 2.75 | 0.0 | 1.74 | -60.13 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 3.26 | -11.65 | 0.0 | 36.20 | -3.44 | 0.0 | 17.03 | -7.09 | 0.0 | 17.78 | -3.47 | 0.0 | 13.58 | -1.24 | 0.0 | 4.13 | -22.8 | 0.0 | 3.46 | -22.42 | 0.0 | 0.25 | -21.88 | 0.0 | 20.04 | -1.04 | 0.0 | 17.91 | -17.39 | 0.0 | 95.62 | -3.9 | 0.0 | 4.38 | 788.12 | 0.0 | 13.32 | 12.6 | 0.0 |
| 19Q4 (1) | 3.69 | 0.0 | 0.0 | 37.49 | 0.0 | 0.0 | 18.33 | 0.0 | 0.0 | 18.42 | 0.0 | 0.0 | 13.75 | 0.0 | 0.0 | 5.35 | 0.0 | 0.0 | 4.46 | 0.0 | 0.0 | 0.32 | 0.0 | 0.0 | 20.25 | 0.0 | 0.0 | 21.68 | 0.0 | 0.0 | 99.51 | 0.0 | 0.0 | 0.49 | 0.0 | 0.0 | 11.83 | 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) | 18.24 | 6.73 | 33.16 | -3.97 | 17.01 | -6.02 | 1.49 | -4.1 | 17.35 | -2.14 | 13.25 | -3.21 | 20.62 | -1.1 | 16.34 | -0.18 | 1.23 | 3.36 | 18.94 | -2.27 | 24.15 | -17.46 | 98.03 | -4.0 | 1.97 | 0 | 0.08 | -1.94 | 10.47 | -8.32 |
| 2022 (9) | 17.09 | 5.56 | 34.53 | -4.72 | 18.10 | -5.58 | 1.55 | -1.42 | 17.73 | -7.66 | 13.69 | -6.17 | 20.85 | -5.66 | 16.37 | -6.4 | 1.19 | 0.0 | 19.38 | -7.18 | 29.26 | 10.96 | 102.11 | 2.22 | -2.11 | 0 | 0.08 | -27.55 | 11.42 | -2.31 |
| 2021 (8) | 16.19 | 1.19 | 36.24 | 0.92 | 19.17 | 4.3 | 1.58 | -6.8 | 19.20 | 1.86 | 14.59 | 0.41 | 22.10 | 5.24 | 17.49 | 3.37 | 1.19 | 2.59 | 20.88 | 1.16 | 26.37 | -3.19 | 99.89 | 2.5 | 0.21 | -91.73 | 0.12 | -21.38 | 11.69 | 1.12 |
| 2020 (7) | 16.00 | 14.12 | 35.91 | -3.44 | 18.38 | 3.67 | 1.69 | -2.9 | 18.85 | 3.63 | 14.53 | 3.49 | 21.00 | 3.5 | 16.92 | 0.24 | 1.16 | -3.33 | 20.64 | 2.99 | 27.24 | 25.65 | 97.45 | 0.02 | 2.55 | -0.59 | 0.15 | 5.14 | 11.56 | -7.96 |
| 2019 (6) | 14.02 | 5.65 | 37.19 | 0.4 | 17.73 | 1.66 | 1.74 | 49.88 | 18.19 | 2.13 | 14.04 | 4.39 | 20.29 | 1.45 | 16.88 | 0.9 | 1.20 | -3.23 | 20.04 | 5.2 | 21.68 | 10.95 | 97.44 | -0.44 | 2.56 | 28.95 | 0.14 | -22.46 | 12.56 | -1.18 |
| 2018 (5) | 13.27 | -1.04 | 37.04 | -1.75 | 17.44 | -3.96 | 1.16 | 6.78 | 17.81 | -0.95 | 13.45 | -3.86 | 20.00 | -3.24 | 16.73 | -2.39 | 1.24 | 1.64 | 19.05 | -0.57 | 19.54 | -1.26 | 97.87 | -3.15 | 1.99 | 0 | 0.18 | 0 | 12.71 | 0.79 |
| 2017 (4) | 13.41 | -7.77 | 37.70 | -0.24 | 18.16 | 6.14 | 1.09 | 33.21 | 17.98 | 5.58 | 13.99 | 3.4 | 20.67 | -5.79 | 17.14 | -2.89 | 1.22 | -5.43 | 19.16 | 6.15 | 19.79 | -8.89 | 101.06 | 0.59 | -1.06 | 0 | 0.00 | 0 | 12.61 | -3.96 |
| 2016 (3) | 14.54 | 9.08 | 37.79 | 5.59 | 17.11 | 21.0 | 0.82 | 9.57 | 17.03 | 22.87 | 13.53 | 20.91 | 21.94 | -0.32 | 17.65 | 5.63 | 1.29 | -12.24 | 18.05 | 21.06 | 21.72 | -25.39 | 100.46 | -1.54 | -0.46 | 0 | 0.00 | 0 | 13.13 | 1.55 |
| 2015 (2) | 13.33 | 16.73 | 35.79 | -0.06 | 14.14 | 6.08 | 0.75 | 8.22 | 13.86 | 1.69 | 11.19 | 7.6 | 22.01 | -10.85 | 16.71 | -12.88 | 1.47 | -18.33 | 14.91 | 1.43 | 29.11 | -29.38 | 102.04 | 4.46 | -2.04 | 0 | 0.00 | 0 | 12.93 | -7.71 |
| 2014 (1) | 11.42 | -4.99 | 35.81 | 0 | 13.33 | 0 | 0.69 | 16.62 | 13.63 | 0 | 10.40 | 0 | 24.69 | 0 | 19.18 | 0 | 1.80 | 10.43 | 14.70 | -23.04 | 41.22 | 113.02 | 97.68 | 0.09 | 2.11 | -12.51 | 0.00 | 0 | 14.01 | 17.14 |
