- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q2 (20) | 0.75 | -27.88 | 56.25 | 30.86 | 4.36 | 29.28 | 13.51 | 5.05 | 75.0 | 14.40 | -30.16 | 14.1 | 11.98 | -24.65 | 45.21 | 3.23 | -29.78 | 44.2 | 1.89 | -29.21 | 43.18 | 0.15 | -6.25 | 0.0 | 20.86 | -22.4 | 3.47 | 77.96 | -4.74 | -3.47 | 93.61 | 50.06 | 52.85 | 6.11 | -83.75 | -84.23 | 16.92 | -0.47 | -3.48 |
| 24Q1 (19) | 1.04 | 316.0 | 160.0 | 29.57 | 6.21 | 23.98 | 12.86 | 4.98 | 32.99 | 20.62 | 254.3 | 127.59 | 15.90 | 288.75 | 162.81 | 4.60 | 322.02 | 144.68 | 2.67 | 270.83 | 138.39 | 0.16 | 6.67 | -5.88 | 26.88 | 108.05 | 69.48 | 81.84 | 9.44 | -5.38 | 62.38 | -70.28 | -41.58 | 37.62 | 134.22 | 654.84 | 17.00 | 28.11 | 7.26 |
| 23Q4 (18) | 0.25 | -68.35 | 525.0 | 27.84 | 12.76 | 39.83 | 12.25 | 29.49 | 142.57 | 5.82 | -55.57 | 285.43 | 4.09 | -64.0 | 452.7 | 1.09 | -69.3 | 419.05 | 0.72 | -65.55 | 260.0 | 0.15 | -16.67 | 0.0 | 12.92 | -33.37 | 34.86 | 74.78 | -0.76 | -8.31 | 209.93 | 190.86 | -37.02 | -109.93 | -495.09 | 52.89 | 13.27 | -14.99 | -3.21 |
| 23Q3 (17) | 0.79 | 64.58 | 71.74 | 24.69 | 3.44 | 60.32 | 9.46 | 22.54 | 292.53 | 13.10 | 3.8 | 68.38 | 11.36 | 37.7 | 90.28 | 3.55 | 58.48 | 62.84 | 2.09 | 58.33 | 68.55 | 0.18 | 20.0 | -10.0 | 19.39 | -3.82 | 35.97 | 75.35 | -6.7 | -10.94 | 72.18 | 17.85 | 132.13 | 27.82 | -28.2 | -59.62 | 15.61 | -10.95 | 17.28 |
| 23Q2 (16) | 0.48 | 20.0 | 20.0 | 23.87 | 0.08 | 50.31 | 7.72 | -20.17 | 194.66 | 12.62 | 39.29 | 90.35 | 8.25 | 36.36 | 39.12 | 2.24 | 19.15 | 10.89 | 1.32 | 17.86 | 18.92 | 0.15 | -11.76 | -16.67 | 20.16 | 27.11 | 44.1 | 80.76 | -6.63 | -10.33 | 61.25 | -42.64 | 54.41 | 38.75 | 671.63 | -35.77 | 17.53 | 10.6 | 22.67 |
| 23Q1 (15) | 0.40 | 900.0 | 48.15 | 23.85 | 19.79 | 73.83 | 9.67 | 91.49 | 787.16 | 9.06 | 500.0 | 67.16 | 6.05 | 717.57 | 44.74 | 1.88 | 795.24 | 32.39 | 1.12 | 460.0 | 41.77 | 0.17 | 13.33 | 0.0 | 15.86 | 65.55 | 22.47 | 86.49 | 6.04 | -10.52 | 106.78 | -67.97 | 422.85 | -6.78 | 97.09 | -108.52 | 15.85 | 15.61 | 12.57 |
| 22Q4 (14) | 0.04 | -91.3 | -20.0 | 19.91 | 29.29 | 41.91 | 5.05 | 109.54 | 3507.14 | 1.51 | -80.59 | 79.76 | 0.74 | -87.6 | -22.11 | 0.21 | -90.37 | -19.23 | 0.20 | -83.87 | 0.0 | 0.15 | -25.0 | 7.14 | 9.58 | -32.82 | -6.17 | 81.56 | -3.6 | -11.97 | 333.33 | 972.07 | 1900.0 | -233.33 | -438.62 | -380.0 | 13.71 | 3.01 | 10.21 |
| 22Q3 (13) | 0.46 | 15.0 | 212.2 | 15.40 | -3.02 | 119.06 | 2.41 | -8.02 | 124.62 | 7.78 | 17.35 | 167.65 | 5.97 | 0.67 | 161.55 | 2.18 | 7.92 | 203.32 | 1.24 | 11.71 | 221.57 | 0.20 | 11.11 | 81.82 | 14.26 | 1.93 | 2590.57 | 84.61 | -6.05 | -9.78 | 31.09 | -21.61 | -63.44 | 68.91 | 14.21 | 360.97 | 13.31 | -6.86 | -25.93 |
| 22Q2 (12) | 0.40 | 48.15 | 185.71 | 15.88 | 15.74 | -26.55 | 2.62 | 140.37 | -61.41 | 6.63 | 22.32 | 139.35 | 5.93 | 41.87 | 115.64 | 2.02 | 42.25 | 188.57 | 1.11 | 40.51 | 170.73 | 0.18 | 5.88 | 38.46 | 13.99 | 8.03 | 8.11 | 90.06 | -6.83 | -6.66 | 39.66 | 94.22 | -83.84 | 60.34 | -24.18 | 141.48 | 14.29 | 1.49 | -9.44 |
| 22Q1 (11) | 0.27 | 440.0 | -47.06 | 13.72 | -2.21 | -43.42 | 1.09 | 678.57 | -89.46 | 5.42 | 545.24 | -47.43 | 4.18 | 340.0 | -47.09 | 1.42 | 446.15 | -45.17 | 0.79 | 295.0 | -42.34 | 0.17 | 21.43 | 0.0 | 12.95 | 26.84 | -28.37 | 96.66 | 4.33 | -4.73 | 20.42 | 22.54 | -79.65 | 79.58 | -4.51 | 21347.18 | 14.08 | 13.18 | -7.19 |
| 21Q4 (10) | 0.05 | 112.2 | -79.17 | 14.03 | 99.57 | -41.25 | 0.14 | 101.43 | -98.55 | 0.84 | 107.3 | -85.31 | 0.95 | 109.79 | -77.05 | 0.26 | 112.32 | -78.15 | 0.20 | 119.61 | -70.59 | 0.14 | 27.27 | -6.67 | 10.21 | 1826.42 | -30.26 | 92.65 | -1.2 | -2.32 | 16.67 | -80.4 | -90.11 | 83.33 | 457.47 | 221.72 | 12.44 | -30.77 | -13.07 |
| 21Q3 (9) | -0.41 | -392.86 | -264.0 | 7.03 | -67.48 | -71.81 | -9.79 | -244.18 | -198.59 | -11.50 | -515.16 | -249.16 | -9.70 | -452.73 | -299.18 | -2.11 | -401.43 | -266.14 | -1.02 | -348.78 | -241.67 | 0.11 | -15.38 | -21.43 | 0.53 | -95.9 | -96.99 | 93.78 | -2.81 | -1.26 | 85.05 | -65.35 | -33.8 | 14.95 | 110.28 | 152.49 | 17.97 | 13.88 | 24.97 |
| 21Q2 (8) | 0.14 | -72.55 | 170.0 | 21.62 | -10.85 | 59.44 | 6.79 | -34.33 | 208.99 | 2.77 | -73.13 | 137.53 | 2.75 | -65.19 | 151.4 | 0.70 | -72.97 | 170.71 | 0.41 | -70.07 | 189.13 | 0.13 | -23.53 | 30.0 | 12.94 | -28.43 | 92.27 | 96.49 | -4.9 | 8.7 | 245.45 | 144.54 | 190.81 | -145.45 | -38736.36 | -1032.62 | 15.78 | 4.02 | 0 |
| 21Q1 (7) | 0.51 | 112.5 | 96.15 | 24.25 | 1.55 | 5.21 | 10.34 | 7.26 | 63.35 | 10.31 | 80.24 | 65.49 | 7.90 | 90.82 | 103.08 | 2.59 | 117.65 | 105.56 | 1.37 | 101.47 | 85.14 | 0.17 | 13.33 | 0.0 | 18.08 | 23.5 | 27.77 | 101.46 | 6.97 | 9.76 | 100.37 | -40.42 | -1.42 | -0.37 | 99.45 | 79.4 | 15.17 | 6.01 | 0.2 |
| 20Q4 (6) | 0.24 | -4.0 | 9.09 | 23.88 | -4.25 | -7.33 | 9.64 | -2.92 | 30.09 | 5.72 | -25.81 | 13.04 | 4.14 | -14.99 | 20.7 | 1.19 | -6.3 | 14.42 | 0.68 | -5.56 | 7.94 | 0.15 | 7.14 | -11.76 | 14.64 | -16.77 | 10.41 | 94.85 | -0.14 | 14.07 | 168.46 | 31.12 | 14.7 | -68.46 | -140.38 | -46.05 | 14.31 | -0.49 | -2.59 |
| 20Q3 (5) | 0.25 | 225.0 | -30.56 | 24.94 | 83.92 | 7.31 | 9.93 | 259.39 | 36.78 | 7.71 | 204.47 | -0.26 | 4.87 | 191.03 | -6.35 | 1.27 | 228.28 | -25.73 | 0.72 | 256.52 | -28.71 | 0.14 | 40.0 | -22.22 | 17.59 | 161.37 | 16.41 | 94.98 | 7.0 | 16.23 | 128.48 | 52.22 | 36.87 | -28.48 | -282.61 | -564.46 | 14.38 | 0 | 11.56 |
| 20Q2 (4) | -0.20 | -176.92 | 0.0 | 13.56 | -41.17 | 0.0 | -6.23 | -198.42 | 0.0 | -7.38 | -218.46 | 0.0 | -5.35 | -237.53 | 0.0 | -0.99 | -178.57 | 0.0 | -0.46 | -162.16 | 0.0 | 0.10 | -41.18 | 0.0 | 6.73 | -52.44 | 0.0 | 88.77 | -3.97 | 0.0 | 84.40 | -17.1 | 0.0 | 15.60 | 957.8 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (3) | 0.26 | 18.18 | 0.0 | 23.05 | -10.55 | 0.0 | 6.33 | -14.57 | 0.0 | 6.23 | 23.12 | 0.0 | 3.89 | 13.41 | 0.0 | 1.26 | 21.15 | 0.0 | 0.74 | 17.46 | 0.0 | 0.17 | 0.0 | 0.0 | 14.15 | 6.71 | 0.0 | 92.44 | 11.17 | 0.0 | 101.82 | -30.68 | 0.0 | -1.82 | 96.12 | 0.0 | 15.14 | 3.06 | 0.0 |
| 19Q4 (2) | 0.22 | -38.89 | 0.0 | 25.77 | 10.89 | 0.0 | 7.41 | 2.07 | 0.0 | 5.06 | -34.54 | 0.0 | 3.43 | -34.04 | 0.0 | 1.04 | -39.18 | 0.0 | 0.63 | -37.62 | 0.0 | 0.17 | -5.56 | 0.0 | 13.26 | -12.24 | 0.0 | 83.15 | 1.75 | 0.0 | 146.88 | 56.47 | 0.0 | -46.88 | -864.42 | 0.0 | 14.69 | 13.96 | 0.0 |
| 19Q3 (1) | 0.36 | 0.0 | 0.0 | 23.24 | 0.0 | 0.0 | 7.26 | 0.0 | 0.0 | 7.73 | 0.0 | 0.0 | 5.20 | 0.0 | 0.0 | 1.71 | 0.0 | 0.0 | 1.01 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 15.11 | 0.0 | 0.0 | 81.72 | 0.0 | 0.0 | 93.87 | 0.0 | 0.0 | 6.13 | 0.0 | 0.0 | 12.89 | 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) | 1.91 | 61.86 | 25.04 | 55.43 | 9.79 | 258.61 | 6.07 | -9.43 | 10.20 | 84.45 | 7.54 | 72.54 | 8.73 | 49.74 | 5.28 | 54.39 | 0.65 | -8.45 | 17.11 | 33.15 | 74.78 | -8.31 | 95.92 | 94.78 | 4.08 | -91.96 | 0.42 | 18.59 | 15.55 | 12.44 |
| 2022 (9) | 1.18 | 306.9 | 16.11 | -8.36 | 2.73 | -4.88 | 6.70 | -24.71 | 5.53 | 216.0 | 4.37 | 216.67 | 5.83 | 291.28 | 3.42 | 232.04 | 0.71 | 26.79 | 12.85 | 13.42 | 81.56 | -11.97 | 49.24 | -70.17 | 50.76 | 0 | 0.35 | -19.24 | 13.83 | -8.95 |
| 2021 (8) | 0.29 | -47.27 | 17.58 | -20.38 | 2.87 | -51.36 | 8.90 | -1.94 | 1.75 | -57.11 | 1.38 | -46.51 | 1.49 | -44.81 | 1.03 | -38.69 | 0.56 | 1.82 | 11.33 | -17.96 | 92.65 | -2.32 | 165.07 | 14.02 | -65.07 | 0 | 0.43 | 4.08 | 15.19 | 2.5 |
| 2020 (7) | 0.55 | -49.07 | 22.08 | -4.21 | 5.90 | -6.94 | 9.07 | 22.3 | 4.08 | -34.62 | 2.58 | -38.42 | 2.70 | -48.28 | 1.68 | -46.33 | 0.55 | -20.29 | 13.81 | -2.2 | 94.85 | 14.07 | 144.77 | 42.54 | -44.77 | 0 | 0.42 | -8.49 | 14.82 | 4.0 |
| 2019 (6) | 1.08 | 42.11 | 23.05 | 13.49 | 6.34 | 58.1 | 7.42 | -3.93 | 6.24 | 54.46 | 4.19 | 31.35 | 5.22 | 43.01 | 3.13 | 36.68 | 0.69 | 4.55 | 14.12 | 16.12 | 83.15 | 8.35 | 101.56 | 2.36 | -1.56 | 0 | 0.46 | 69.75 | 14.25 | 4.7 |
| 2018 (5) | 0.76 | -66.52 | 20.31 | -31.06 | 4.01 | -68.1 | 7.72 | 15.31 | 4.04 | -65.32 | 3.19 | -65.1 | 3.65 | -65.0 | 2.29 | -63.48 | 0.66 | -1.49 | 12.16 | -34.97 | 76.74 | 6.85 | 99.22 | -8.07 | 0.78 | 0 | 0.27 | 0 | 13.61 | -8.47 |
| 2017 (4) | 2.27 | -27.48 | 29.46 | -0.1 | 12.57 | -11.6 | 6.70 | 12.26 | 11.65 | -16.49 | 9.14 | -18.83 | 10.43 | -27.16 | 6.27 | -27.76 | 0.67 | -10.67 | 18.70 | -7.52 | 71.82 | 1.15 | 107.93 | 5.87 | -7.93 | 0 | 0.00 | 0 | 14.87 | 9.66 |
| 2016 (3) | 3.13 | 9.82 | 29.49 | 9.26 | 14.22 | 19.4 | 5.97 | -0.03 | 13.95 | 14.63 | 11.26 | 15.25 | 14.32 | 5.76 | 8.68 | 5.6 | 0.75 | -8.54 | 20.22 | 9.24 | 71.00 | 7.32 | 101.95 | 4.22 | -1.95 | 0 | 0.00 | 0 | 13.56 | 5.36 |
| 2015 (2) | 2.85 | 10.04 | 26.99 | 9.8 | 11.91 | 17.57 | 5.97 | 12.25 | 12.17 | 15.57 | 9.77 | 12.69 | 13.54 | 3.2 | 8.22 | 6.48 | 0.82 | -4.65 | 18.51 | 13.91 | 66.16 | -9.73 | 97.82 | 1.61 | 2.18 | -41.5 | 0.00 | 0 | 12.87 | 8.24 |
| 2014 (1) | 2.59 | 18.26 | 24.58 | 0 | 10.13 | 0 | 5.32 | 1.2 | 10.53 | 0 | 8.67 | 0 | 13.12 | 0 | 7.72 | 0 | 0.86 | -1.15 | 16.25 | 5.11 | 73.29 | -6.87 | 96.26 | 3.3 | 3.74 | -45.15 | 0.00 | 0 | 11.89 | -3.49 |
