- 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) | 1.47 | -4.55 | -26.87 | 43.57 | -2.88 | -0.98 | 5.55 | -10.63 | -21.61 | 5.26 | -14.47 | -38.12 | 4.35 | -12.12 | -38.39 | 2.85 | -1.04 | -31.65 | 1.07 | -2.73 | -20.74 | 0.20 | 5.26 | 11.11 | 14.74 | -9.35 | -10.67 | 217.65 | -3.49 | -5.97 | 105.33 | 4.05 | 26.4 | -5.33 | -332.0 | -132.0 | 30.12 | -2.37 | 0.8 |
| 24Q2 (19) | 1.54 | -67.44 | -13.97 | 44.86 | -6.27 | 0.83 | 6.21 | -57.96 | -16.08 | 6.15 | -58.47 | -21.25 | 4.95 | -58.37 | -26.88 | 2.88 | -67.46 | -23.2 | 1.10 | -62.71 | -13.39 | 0.19 | -20.83 | 5.56 | 16.26 | -28.72 | -2.63 | 225.53 | 10.34 | 2.08 | 101.23 | 1.64 | 7.41 | -1.23 | -407.41 | -126.85 | 30.85 | 17.57 | 3.63 |
| 24Q1 (18) | 4.73 | 491.25 | 57.14 | 47.86 | 9.37 | 3.44 | 14.77 | 405.82 | 17.69 | 14.81 | 427.05 | 20.11 | 11.89 | 359.07 | 21.2 | 8.85 | 449.69 | 34.7 | 2.95 | 368.25 | 39.81 | 0.24 | 26.32 | 14.29 | 22.81 | 73.59 | 15.03 | 204.39 | -9.17 | -2.83 | 99.60 | -3.02 | -2.23 | 0.40 | 114.86 | 121.42 | 26.24 | -13.51 | -4.34 |
| 23Q4 (17) | 0.80 | -60.2 | -61.35 | 43.76 | -0.55 | 2.03 | 2.92 | -58.76 | -54.73 | 2.81 | -66.94 | -68.32 | 2.59 | -63.31 | -66.19 | 1.61 | -61.39 | -67.08 | 0.63 | -53.33 | -58.28 | 0.19 | 5.56 | 0.0 | 13.14 | -20.36 | -25.3 | 225.03 | -2.78 | -6.05 | 102.70 | 23.24 | 40.18 | -2.70 | -116.22 | -109.75 | 30.34 | 1.54 | 2.6 |
| 23Q3 (16) | 2.01 | 12.29 | -16.94 | 44.00 | -1.1 | 6.49 | 7.08 | -4.32 | 22.92 | 8.50 | 8.83 | -24.91 | 7.06 | 4.28 | -28.03 | 4.17 | 11.2 | -30.03 | 1.35 | 6.3 | -25.0 | 0.18 | 0.0 | 5.88 | 16.50 | -1.2 | -21.28 | 231.47 | 4.77 | -6.06 | 83.33 | -11.59 | 63.89 | 16.67 | 262.5 | -66.09 | 29.88 | 0.37 | 6.18 |
| 23Q2 (15) | 1.79 | -40.53 | 173.97 | 44.49 | -3.85 | 50.05 | 7.40 | -41.04 | 125.14 | 7.81 | -36.66 | 131.75 | 6.77 | -30.99 | 135.58 | 3.75 | -42.92 | 168.31 | 1.27 | -39.81 | 168.28 | 0.18 | -14.29 | 80.0 | 16.70 | -15.78 | 372.43 | 220.94 | 5.04 | -10.99 | 94.25 | -7.48 | -21.26 | 4.60 | 345.21 | 123.34 | 29.77 | 8.53 | -35.53 |
| 23Q1 (14) | 3.01 | 45.41 | 198.02 | 46.27 | 7.88 | 7.11 | 12.55 | 94.57 | 140.88 | 12.33 | 39.01 | 135.31 | 9.81 | 28.07 | 138.11 | 6.57 | 34.36 | 209.91 | 2.11 | 39.74 | 102.88 | 0.21 | 10.53 | -8.7 | 19.83 | 12.73 | 32.64 | 210.34 | -12.19 | 70.32 | 101.88 | 39.05 | 1.88 | -1.88 | -106.76 | 0 | 27.43 | -7.24 | -10.21 |
| 22Q4 (13) | 2.07 | -14.46 | -45.81 | 42.89 | 3.8 | -8.2 | 6.45 | 11.98 | -61.05 | 8.87 | -21.64 | -54.88 | 7.66 | -21.92 | -47.86 | 4.89 | -17.95 | -42.74 | 1.51 | -16.11 | -56.23 | 0.19 | 11.76 | -17.39 | 17.59 | -16.08 | -40.33 | 239.53 | -2.79 | 79.38 | 73.27 | 44.09 | -13.16 | 27.72 | -43.6 | 77.43 | 29.57 | 5.08 | 24.04 |
| 22Q3 (12) | 2.42 | 200.0 | 203.42 | 41.32 | 39.36 | 79.42 | 5.76 | 119.57 | 113.62 | 11.32 | 146.02 | 141.56 | 9.81 | 151.55 | 146.67 | 5.96 | 208.56 | 200.17 | 1.80 | 196.77 | 192.31 | 0.17 | 70.0 | 70.0 | 20.96 | 441.92 | 679.01 | 246.40 | -0.73 | 29.36 | 50.85 | -57.52 | -67.17 | 49.15 | 349.54 | 189.58 | 28.14 | -39.06 | -47.72 |
| 22Q2 (11) | -2.42 | -339.6 | -57.14 | 29.65 | -31.37 | -1.33 | -29.44 | -665.07 | -4.58 | -24.60 | -569.47 | -44.79 | -19.03 | -561.89 | -69.76 | -5.49 | -358.96 | -62.91 | -1.86 | -278.85 | -58.97 | 0.10 | -56.52 | -16.67 | -6.13 | -141.0 | -450.29 | 248.22 | 100.99 | 37.52 | 119.70 | 19.7 | -27.68 | -19.70 | 0 | 69.94 | 46.18 | 51.16 | -9.36 |
| 22Q1 (10) | 1.01 | -73.56 | -50.73 | 43.20 | -7.53 | -3.98 | 5.21 | -68.54 | -41.39 | 5.24 | -73.35 | -44.14 | 4.12 | -71.95 | -44.47 | 2.12 | -75.18 | -50.23 | 1.04 | -69.86 | -42.86 | 0.23 | 0.0 | 0.0 | 14.95 | -49.29 | -20.44 | 123.50 | -7.51 | -13.68 | 100.00 | 18.52 | 5.49 | 0.00 | -100.0 | -100.0 | 30.55 | 28.15 | 4.59 |
| 21Q4 (9) | 3.82 | 263.25 | 103.19 | 46.72 | 102.87 | 2.1 | 16.56 | 139.16 | 95.51 | 19.66 | 172.17 | 135.17 | 14.69 | 169.89 | 109.86 | 8.54 | 243.53 | 106.78 | 3.45 | 276.92 | 104.14 | 0.23 | 130.0 | 4.55 | 29.48 | 914.36 | 65.43 | 133.53 | -29.9 | -17.31 | 84.38 | -45.52 | -16.62 | 15.62 | 128.48 | 1412.5 | 23.84 | -55.71 | -20.45 |
| 21Q3 (8) | -2.34 | -51.95 | -158.65 | 23.03 | -23.36 | -48.92 | -42.29 | -50.23 | -527.6 | -27.24 | -60.33 | -258.74 | -21.02 | -87.51 | -243.58 | -5.95 | -76.56 | -162.63 | -1.95 | -66.67 | -155.08 | 0.10 | -16.67 | -56.52 | -3.62 | -306.86 | -113.96 | 190.48 | 5.53 | 13.19 | 154.87 | -6.43 | 169.47 | -54.87 | 16.26 | -229.01 | 53.83 | 5.65 | 86.59 |
| 21Q2 (7) | -1.54 | -175.12 | -252.48 | 30.05 | -33.21 | -20.04 | -28.15 | -416.65 | -220.98 | -16.99 | -281.13 | -467.75 | -11.21 | -251.08 | -280.81 | -3.37 | -179.11 | -237.55 | -1.17 | -164.29 | -211.43 | 0.12 | -47.83 | -20.0 | 1.75 | -90.69 | -89.78 | 180.50 | 26.16 | -5.06 | 165.52 | 74.61 | 187.44 | -65.52 | -1357.93 | -122.65 | 50.95 | 74.43 | 29.38 |
| 21Q1 (6) | 2.05 | 9.04 | 220.31 | 44.99 | -1.68 | 6.59 | 8.89 | 4.96 | 149.72 | 9.38 | 12.2 | 158.4 | 7.42 | 6.0 | 164.06 | 4.26 | 3.15 | 182.12 | 1.82 | 7.69 | 152.78 | 0.23 | 4.55 | 9.52 | 18.79 | 5.44 | 47.37 | 143.07 | -11.41 | 2.87 | 94.79 | -6.32 | -5.21 | 5.21 | 537.5 | 56.25 | 29.21 | -2.54 | -10.67 |
| 20Q4 (5) | 1.88 | -52.88 | 31.47 | 45.76 | 1.49 | 3.32 | 8.47 | -14.36 | 26.04 | 8.36 | -51.28 | 20.29 | 7.00 | -52.19 | 24.56 | 4.13 | -56.53 | 20.41 | 1.69 | -52.26 | 19.86 | 0.22 | -4.35 | -4.35 | 17.82 | -31.3 | 17.94 | 161.49 | -4.03 | -2.4 | 101.19 | 76.07 | 4.4 | -1.19 | -102.8 | -138.69 | 29.97 | 3.88 | 0.77 |
| 20Q3 (4) | 3.99 | 295.05 | 0.0 | 45.09 | 19.98 | 0.0 | 9.89 | 212.77 | 0.0 | 17.16 | 271.43 | 0.0 | 14.64 | 136.13 | 0.0 | 9.50 | 287.76 | 0.0 | 3.54 | 237.14 | 0.0 | 0.23 | 53.33 | 0.0 | 25.94 | 51.43 | 0.0 | 168.28 | -11.49 | 0.0 | 57.47 | 130.36 | 0.0 | 42.53 | -85.3 | 0.0 | 28.85 | -26.74 | 0.0 |
| 20Q2 (3) | 1.01 | 57.81 | 0.0 | 37.58 | -10.97 | 0.0 | -8.77 | -346.35 | 0.0 | 4.62 | 27.27 | 0.0 | 6.20 | 120.64 | 0.0 | 2.45 | 62.25 | 0.0 | 1.05 | 45.83 | 0.0 | 0.15 | -28.57 | 0.0 | 17.13 | 34.35 | 0.0 | 190.13 | 36.71 | 0.0 | -189.29 | -289.29 | 0.0 | 289.29 | 8578.57 | 0.0 | 39.38 | 20.43 | 0.0 |
| 20Q1 (2) | 0.64 | -55.24 | 0.0 | 42.21 | -4.7 | 0.0 | 3.56 | -47.02 | 0.0 | 3.63 | -47.77 | 0.0 | 2.81 | -50.0 | 0.0 | 1.51 | -55.98 | 0.0 | 0.72 | -48.94 | 0.0 | 0.21 | -8.7 | 0.0 | 12.75 | -15.62 | 0.0 | 139.08 | -15.94 | 0.0 | 100.00 | 3.17 | 0.0 | 3.33 | 8.33 | 0.0 | 32.70 | 9.95 | 0.0 |
| 19Q4 (1) | 1.43 | 0.0 | 0.0 | 44.29 | 0.0 | 0.0 | 6.72 | 0.0 | 0.0 | 6.95 | 0.0 | 0.0 | 5.62 | 0.0 | 0.0 | 3.43 | 0.0 | 0.0 | 1.41 | 0.0 | 0.0 | 0.23 | 0.0 | 0.0 | 15.11 | 0.0 | 0.0 | 165.46 | 0.0 | 0.0 | 96.92 | 0.0 | 0.0 | 3.08 | 0.0 | 0.0 | 29.74 | 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) | 7.61 | 147.08 | 44.65 | 9.84 | 7.49 | 860.26 | 7.99 | -19.09 | 7.84 | 108.51 | 6.53 | 88.73 | 16.04 | 137.28 | 5.20 | 89.78 | 0.74 | 7.25 | 16.53 | 14.79 | 225.03 | -6.05 | 95.58 | 364.74 | 4.42 | -94.44 | 0.47 | 13.96 | 29.33 | -7.83 |
| 2022 (9) | 3.08 | 53.23 | 40.65 | 2.01 | 0.78 | 0 | 9.87 | -18.5 | 3.76 | 24.09 | 3.46 | 34.63 | 6.76 | 67.33 | 2.74 | 28.64 | 0.69 | 7.81 | 14.40 | -11.38 | 239.53 | 79.38 | 20.57 | 0 | 79.43 | -54.39 | 0.41 | 13.51 | 31.82 | -8.3 |
| 2021 (8) | 2.01 | -73.24 | 39.85 | -7.9 | -2.26 | 0 | 12.12 | 36.51 | 3.03 | -66.85 | 2.57 | -68.19 | 4.04 | -76.3 | 2.13 | -69.44 | 0.64 | -20.0 | 16.25 | -13.79 | 133.53 | -17.31 | -74.16 | 0 | 174.16 | 257.36 | 0.36 | 17.89 | 34.70 | 8.61 |
| 2020 (7) | 7.51 | 4.31 | 43.27 | -1.93 | 4.67 | -48.51 | 8.88 | 25.49 | 9.14 | -4.39 | 8.08 | 14.45 | 17.05 | -9.84 | 6.97 | -22.3 | 0.80 | -27.27 | 18.85 | 8.33 | 161.49 | -2.4 | 51.27 | -46.04 | 48.73 | 877.39 | 0.31 | -15.16 | 31.95 | 10.71 |
| 2019 (6) | 7.20 | 17.46 | 44.12 | 2.41 | 9.07 | 28.47 | 7.07 | 82.77 | 9.56 | 12.08 | 7.06 | 7.29 | 18.91 | 37.33 | 8.97 | 14.41 | 1.10 | -7.56 | 17.40 | 39.42 | 165.46 | 93.61 | 95.01 | 14.62 | 4.99 | -70.85 | 0.36 | -40.45 | 28.86 | -1.2 |
| 2018 (5) | 6.13 | -17.94 | 43.08 | 1.06 | 7.06 | -14.01 | 3.87 | 14.52 | 8.53 | -12.42 | 6.58 | -17.13 | 13.77 | -19.66 | 7.84 | -14.5 | 1.19 | 3.48 | 12.48 | -5.81 | 85.46 | 24.78 | 82.89 | -1.37 | 17.11 | 9.34 | 0.61 | 0 | 29.21 | 3.11 |
| 2017 (4) | 7.47 | 2.33 | 42.63 | 0.02 | 8.21 | 1.36 | 3.38 | 1.89 | 9.74 | 2.42 | 7.94 | 2.58 | 17.14 | -21.2 | 9.17 | -6.62 | 1.15 | -8.73 | 13.25 | 2.08 | 68.49 | -42.29 | 84.05 | -1.18 | 15.64 | 4.64 | 0.00 | 0 | 28.33 | -1.01 |
| 2016 (3) | 7.30 | 19.09 | 42.62 | -1.64 | 8.10 | -2.29 | 3.32 | 6.72 | 9.51 | 14.44 | 7.74 | 23.64 | 21.75 | -0.87 | 9.82 | 16.21 | 1.26 | -3.82 | 12.98 | 10.85 | 118.67 | -8.04 | 85.05 | -14.6 | 14.95 | 3502.99 | 0.00 | 0 | 28.62 | 3.7 |
| 2015 (2) | 6.13 | 26.39 | 43.33 | -4.24 | 8.29 | 30.35 | 3.11 | 2.6 | 8.31 | 3.88 | 6.26 | -0.32 | 21.94 | -9.08 | 8.45 | 3.81 | 1.31 | 5.65 | 11.71 | 2.45 | 129.04 | -45.58 | 99.59 | 24.66 | 0.41 | -97.99 | 0.00 | 0 | 27.60 | -2.95 |
| 2014 (1) | 4.85 | 9.23 | 45.25 | 0 | 6.36 | 0 | 3.03 | -4.9 | 8.00 | 0 | 6.28 | 0 | 24.13 | 0 | 8.14 | 0 | 1.24 | -15.07 | 11.43 | 5.15 | 237.13 | 32.5 | 79.89 | 6.51 | 20.69 | -17.24 | 0.00 | 0 | 28.44 | 2.93 |
