- 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) | 6.47 | 2.37 | 13.91 | 32.32 | 2.54 | -2.27 | 23.02 | 5.16 | 0.83 | 22.08 | -4.99 | -13.92 | 17.70 | -2.05 | -9.42 | 6.76 | -4.38 | 2.58 | 5.53 | 3.17 | 12.17 | 0.31 | 6.9 | 24.0 | 24.58 | -4.54 | -14.42 | 24.24 | 7.45 | -4.49 | 104.24 | 10.65 | 17.13 | -4.24 | -172.76 | -138.57 | 15.87 | 12.47 | -0.31 |
| 24Q2 (19) | 6.32 | 21.77 | 24.65 | 31.52 | 7.1 | 1.12 | 21.89 | 13.19 | 3.11 | 23.24 | -0.17 | 0.96 | 18.07 | -3.21 | 1.52 | 7.07 | 22.32 | 11.87 | 5.36 | 22.65 | 26.12 | 0.29 | 26.09 | 26.09 | 25.75 | -2.54 | -1.68 | 22.56 | -49.18 | -50.59 | 94.21 | 13.43 | 2.16 | 5.83 | -65.57 | -25.01 | 14.11 | -16.16 | -6.93 |
| 24Q1 (18) | 5.19 | 1.76 | 72.43 | 29.43 | -9.47 | 3.77 | 19.34 | -15.29 | 11.41 | 23.28 | 13.56 | 39.07 | 18.67 | 13.36 | 46.78 | 5.78 | 3.58 | 62.36 | 4.37 | -3.53 | 70.7 | 0.23 | -14.81 | 21.05 | 26.42 | 12.95 | 27.39 | 44.39 | 84.96 | -23.75 | 83.06 | -25.45 | -19.88 | 16.94 | 249.03 | 560.73 | 16.83 | 11.68 | -6.13 |
| 23Q4 (17) | 5.10 | -10.21 | 76.47 | 32.51 | -1.69 | 18.22 | 22.83 | 0.0 | 47.96 | 20.50 | -20.08 | 52.76 | 16.47 | -15.71 | 58.67 | 5.58 | -15.33 | 75.47 | 4.53 | -8.11 | 84.9 | 0.27 | 8.0 | 17.39 | 23.39 | -18.56 | 38.81 | 24.00 | -5.44 | -26.61 | 111.42 | 25.2 | -3.06 | -11.37 | -203.31 | 23.93 | 15.07 | -5.34 | -12.64 |
| 23Q3 (16) | 5.68 | 12.03 | -28.19 | 33.07 | 6.1 | 14.03 | 22.83 | 7.54 | 9.13 | 25.65 | 11.42 | 0.71 | 19.54 | 9.78 | -3.55 | 6.59 | 4.27 | -29.06 | 4.93 | 16.0 | -25.3 | 0.25 | 8.7 | -21.88 | 28.72 | 9.66 | 4.47 | 25.38 | -44.42 | -27.55 | 89.00 | -3.5 | 8.38 | 11.00 | 41.46 | -38.47 | 15.92 | 5.01 | 26.15 |
| 23Q2 (15) | 5.07 | 68.44 | -31.76 | 31.17 | 9.91 | 11.4 | 21.23 | 22.29 | 2.86 | 23.02 | 37.51 | -0.3 | 17.80 | 39.94 | -2.04 | 6.32 | 77.53 | -29.93 | 4.25 | 66.02 | -32.75 | 0.23 | 21.05 | -34.29 | 26.19 | 26.28 | 5.18 | 45.66 | -21.57 | -7.14 | 92.22 | -11.05 | 3.18 | 7.78 | 311.56 | -26.75 | 15.16 | -15.45 | 43.97 |
| 23Q1 (14) | 3.01 | 4.15 | -53.91 | 28.36 | 3.13 | 5.98 | 17.36 | 12.51 | -11.88 | 16.74 | 24.74 | -22.46 | 12.72 | 22.54 | -27.69 | 3.56 | 11.95 | -56.0 | 2.56 | 4.49 | -56.54 | 0.19 | -17.39 | -42.42 | 20.74 | 23.09 | -11.25 | 58.22 | 78.04 | 55.34 | 103.68 | -9.8 | 13.6 | -3.68 | 75.39 | -141.85 | 17.93 | 3.94 | 57.97 |
| 22Q4 (13) | 2.89 | -63.46 | -39.16 | 27.50 | -5.17 | 12.02 | 15.43 | -26.24 | -4.04 | 13.42 | -47.31 | -17.62 | 10.38 | -48.77 | -21.54 | 3.18 | -65.77 | -50.0 | 2.45 | -62.88 | -47.2 | 0.23 | -28.12 | -34.29 | 16.85 | -38.7 | -6.39 | 32.70 | -6.65 | -14.93 | 114.94 | 39.97 | 16.47 | -14.94 | -183.56 | -1241.95 | 17.25 | 36.69 | 54.57 |
| 22Q3 (12) | 7.91 | 6.46 | 125.36 | 29.00 | 3.65 | 17.65 | 20.92 | 1.36 | 40.59 | 25.47 | 10.31 | 68.12 | 20.26 | 11.5 | 69.54 | 9.29 | 2.99 | 86.92 | 6.60 | 4.43 | 90.2 | 0.32 | -8.57 | 10.34 | 27.49 | 10.4 | 60.39 | 35.03 | -28.76 | -5.71 | 82.12 | -8.13 | -16.38 | 17.88 | 68.42 | 892.45 | 12.62 | 19.85 | 9.45 |
| 22Q2 (11) | 7.43 | 13.78 | 33.63 | 27.98 | 4.56 | 0.25 | 20.64 | 4.77 | 3.1 | 23.09 | 6.95 | 20.45 | 18.17 | 3.3 | 16.62 | 9.02 | 11.5 | 16.54 | 6.32 | 7.3 | 15.96 | 0.35 | 6.06 | 0.0 | 24.90 | 6.55 | 19.71 | 49.17 | 31.19 | -3.87 | 89.38 | -2.06 | -14.45 | 10.62 | 20.87 | 339.99 | 10.53 | -7.22 | -8.12 |
| 22Q1 (10) | 6.53 | 37.47 | 31.92 | 26.76 | 9.0 | -6.56 | 19.70 | 22.51 | -2.23 | 21.59 | 32.54 | 5.37 | 17.59 | 32.96 | 6.48 | 8.09 | 27.2 | 18.27 | 5.89 | 26.94 | 16.63 | 0.33 | -5.71 | 10.0 | 23.37 | 29.83 | 3.82 | 37.48 | -2.5 | 9.72 | 91.26 | -7.53 | -7.2 | 8.78 | 571.4 | 428.34 | 11.35 | 1.7 | -15.8 |
| 21Q4 (9) | 4.75 | 35.33 | -18.24 | 24.55 | -0.41 | -18.95 | 16.08 | 8.06 | -27.34 | 16.29 | 7.52 | -22.21 | 13.23 | 10.71 | -22.63 | 6.36 | 27.97 | -26.56 | 4.64 | 33.72 | -25.88 | 0.35 | 20.69 | -5.41 | 18.00 | 5.02 | -20.98 | 38.44 | 3.47 | 1.24 | 98.69 | 0.5 | -6.62 | 1.31 | -27.38 | 123.02 | 11.16 | -3.21 | -9.34 |
| 21Q3 (8) | 3.51 | -36.87 | -23.19 | 24.65 | -11.68 | -17.78 | 14.88 | -25.67 | -32.05 | 15.15 | -20.97 | -28.61 | 11.95 | -23.3 | -29.66 | 4.97 | -35.79 | -32.38 | 3.47 | -36.33 | -32.88 | 0.29 | -17.14 | -3.33 | 17.14 | -17.6 | -27.4 | 37.15 | -27.37 | -6.26 | 98.20 | -6.01 | -4.84 | 1.80 | 140.73 | 155.29 | 11.53 | 0.61 | -16.45 |
| 21Q2 (7) | 5.56 | 12.32 | 114.67 | 27.91 | -2.55 | 2.69 | 20.02 | -0.65 | 22.3 | 19.17 | -6.44 | 14.58 | 15.58 | -5.69 | 19.85 | 7.74 | 13.16 | 92.54 | 5.45 | 7.92 | 82.27 | 0.35 | 16.67 | 52.17 | 20.80 | -7.6 | 2.97 | 51.15 | 49.74 | 10.55 | 104.48 | 6.24 | 6.7 | -4.42 | -366.09 | -312.83 | 11.46 | -14.99 | -36.3 |
| 21Q1 (6) | 4.95 | -14.8 | 94.88 | 28.64 | -5.45 | 10.54 | 20.15 | -8.95 | 31.27 | 20.49 | -2.15 | 38.07 | 16.52 | -3.39 | 42.54 | 6.84 | -21.02 | 81.43 | 5.05 | -19.33 | 68.33 | 0.30 | -18.92 | 20.0 | 22.51 | -1.19 | 23.89 | 34.16 | -10.03 | 28.18 | 98.34 | -6.95 | -4.97 | 1.66 | 129.25 | 149.44 | 13.48 | 9.5 | -21.22 |
| 20Q4 (5) | 5.81 | 27.13 | 40.34 | 30.29 | 1.03 | 5.98 | 22.13 | 1.05 | 15.99 | 20.94 | -1.32 | 17.25 | 17.10 | 0.65 | 16.49 | 8.66 | 17.82 | 34.26 | 6.26 | 21.08 | 24.21 | 0.37 | 23.33 | 8.82 | 22.78 | -3.52 | 10.26 | 37.97 | -4.19 | 32.44 | 105.68 | 2.41 | -1.05 | -5.68 | -74.41 | 16.44 | 12.31 | -10.8 | -11.44 |
| 20Q3 (4) | 4.57 | 76.45 | 0.0 | 29.98 | 10.3 | 0.0 | 21.90 | 33.78 | 0.0 | 21.22 | 26.84 | 0.0 | 16.99 | 30.69 | 0.0 | 7.35 | 82.84 | 0.0 | 5.17 | 72.91 | 0.0 | 0.30 | 30.43 | 0.0 | 23.61 | 16.88 | 0.0 | 39.63 | -14.35 | 0.0 | 103.19 | 5.39 | 0.0 | -3.26 | -256.76 | 0.0 | 13.80 | -23.29 | 0.0 |
| 20Q2 (3) | 2.59 | 1.97 | 0.0 | 27.18 | 4.9 | 0.0 | 16.37 | 6.64 | 0.0 | 16.73 | 12.74 | 0.0 | 13.00 | 12.17 | 0.0 | 4.02 | 6.63 | 0.0 | 2.99 | -0.33 | 0.0 | 0.23 | -8.0 | 0.0 | 20.20 | 11.17 | 0.0 | 46.27 | 73.62 | 0.0 | 97.92 | -5.37 | 0.0 | 2.08 | 161.81 | 0.0 | 17.99 | 5.14 | 0.0 |
| 20Q1 (2) | 2.54 | -38.65 | 0.0 | 25.91 | -9.34 | 0.0 | 15.35 | -19.55 | 0.0 | 14.84 | -16.91 | 0.0 | 11.59 | -21.05 | 0.0 | 3.77 | -41.55 | 0.0 | 3.00 | -40.48 | 0.0 | 0.25 | -26.47 | 0.0 | 18.17 | -12.05 | 0.0 | 26.65 | -7.05 | 0.0 | 103.48 | -3.11 | 0.0 | -3.36 | 50.55 | 0.0 | 17.11 | 23.09 | 0.0 |
| 19Q4 (1) | 4.14 | 0.0 | 0.0 | 28.58 | 0.0 | 0.0 | 19.08 | 0.0 | 0.0 | 17.86 | 0.0 | 0.0 | 14.68 | 0.0 | 0.0 | 6.45 | 0.0 | 0.0 | 5.04 | 0.0 | 0.0 | 0.34 | 0.0 | 0.0 | 20.66 | 0.0 | 0.0 | 28.67 | 0.0 | 0.0 | 106.80 | 0.0 | 0.0 | -6.80 | 0.0 | 0.0 | 13.90 | 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) | 18.87 | -23.76 | 31.44 | 12.89 | 21.27 | 9.24 | 2.79 | 43.21 | 21.68 | 0.88 | 16.81 | -1.64 | 20.37 | -30.57 | 16.17 | -26.0 | 0.94 | -25.98 | 24.92 | 5.33 | 24.00 | -26.61 | 98.10 | 8.28 | 1.90 | -79.77 | 0.08 | 37.91 | 15.92 | 26.45 |
| 2022 (9) | 24.75 | 31.86 | 27.85 | 5.37 | 19.47 | 9.32 | 1.95 | 14.65 | 21.49 | 20.87 | 17.09 | 19.26 | 29.34 | 14.88 | 21.85 | 17.85 | 1.27 | -1.55 | 23.66 | 20.71 | 32.70 | -14.93 | 90.60 | -9.57 | 9.40 | 0 | 0.06 | -12.24 | 12.59 | 6.16 |
| 2021 (8) | 18.77 | 21.02 | 26.43 | -7.81 | 17.81 | -8.71 | 1.70 | -29.72 | 17.78 | -5.93 | 14.33 | -5.1 | 25.54 | 11.92 | 18.54 | 7.73 | 1.29 | 14.16 | 19.60 | -8.88 | 38.44 | 1.24 | 100.19 | -2.97 | -0.20 | 0 | 0.06 | -25.38 | 11.86 | -19.97 |
| 2020 (7) | 15.51 | -1.02 | 28.67 | -0.62 | 19.51 | 0.31 | 2.42 | -16.77 | 18.90 | -1.97 | 15.10 | -1.24 | 22.82 | -7.05 | 17.21 | -10.13 | 1.13 | -8.87 | 21.51 | -4.36 | 37.97 | 32.44 | 103.25 | 2.32 | -3.25 | 0 | 0.09 | 6.74 | 14.82 | 0.68 |
| 2019 (6) | 15.67 | -1.82 | 28.85 | 0.1 | 19.45 | 1.09 | 2.91 | -2.18 | 19.28 | -2.87 | 15.29 | -3.72 | 24.55 | -10.34 | 19.15 | -8.55 | 1.24 | -5.34 | 22.49 | -2.39 | 28.67 | -6.82 | 100.90 | 4.1 | -0.90 | 0 | 0.08 | -14.09 | 14.72 | 7.68 |
| 2018 (5) | 15.96 | 43.53 | 28.82 | 4.76 | 19.24 | 11.02 | 2.97 | -6.55 | 19.85 | 27.82 | 15.88 | 26.03 | 27.38 | 34.61 | 20.94 | 35.45 | 1.31 | 8.26 | 23.04 | 22.03 | 30.77 | -7.12 | 96.93 | -13.13 | 3.07 | 0 | 0.09 | 0 | 13.67 | -4.34 |
| 2017 (4) | 11.12 | -18.65 | 27.51 | -3.74 | 17.33 | -9.6 | 3.18 | -1.72 | 15.53 | -18.09 | 12.60 | -15.55 | 20.34 | -27.41 | 15.46 | -23.35 | 1.21 | -6.92 | 18.88 | -15.71 | 33.13 | 3.95 | 111.59 | 10.38 | -11.59 | 0 | 0.00 | 0 | 14.29 | 3.78 |
| 2016 (3) | 13.67 | -14.51 | 28.58 | 1.96 | 19.17 | 1.11 | 3.24 | 10.9 | 18.96 | -5.53 | 14.92 | -8.75 | 28.02 | -28.67 | 20.17 | -21.79 | 1.30 | -17.2 | 22.40 | -3.32 | 31.87 | -36.49 | 101.10 | 7.01 | -1.10 | 0 | 0.00 | 0 | 13.77 | 7.16 |
| 2015 (2) | 15.99 | 38.92 | 28.03 | 6.78 | 18.96 | 12.66 | 2.92 | 10.22 | 20.07 | 11.87 | 16.35 | 13.46 | 39.28 | 15.02 | 25.79 | 16.96 | 1.57 | 3.29 | 23.17 | 11.82 | 50.18 | -12.68 | 94.47 | 0.7 | 5.53 | -10.57 | 0.00 | 0 | 12.85 | 3.71 |
| 2014 (1) | 11.51 | 5.5 | 26.25 | 0 | 16.83 | 0 | 2.65 | 14.94 | 17.94 | 0 | 14.41 | 0 | 34.15 | 0 | 22.05 | 0 | 1.52 | -5.0 | 20.72 | 0.05 | 57.47 | 5.33 | 93.82 | -5.38 | 6.18 | 632.3 | 0.00 | 0 | 12.39 | 5.81 |
