- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q1 (20) | 2.29 | -46.37 | 189.87 | 34.30 | 7.69 | 22.37 | 20.45 | -9.15 | 41.82 | 24.67 | 5.56 | 59.06 | 19.55 | -1.11 | 48.44 | 10.50 | -47.13 | 109.16 | 3.69 | -51.76 | 107.3 | 0.19 | -51.28 | 46.15 | 26.53 | 9.09 | 38.61 | 231.38 | 55.69 | 1.33 | 82.91 | -13.94 | -10.74 | 17.09 | 366.76 | 140.26 | 16.79 | 36.95 | -12.87 |
| 23Q4 (19) | 4.27 | 56.41 | 133.33 | 31.85 | -3.13 | 90.72 | 22.51 | 5.63 | 603.44 | 23.37 | -2.71 | 14.78 | 19.77 | 1.49 | 10.94 | 19.86 | 31.61 | 67.88 | 7.65 | 40.62 | 83.45 | 0.39 | 39.29 | 69.57 | 24.32 | -4.81 | 8.57 | 148.62 | -15.33 | -14.74 | 96.34 | 8.49 | 515.43 | 3.66 | -67.64 | -95.65 | 12.26 | -5.03 | -9.32 |
| 23Q3 (18) | 2.73 | 31.25 | 425.0 | 32.88 | 11.27 | 26.85 | 21.31 | 11.8 | 173.21 | 24.02 | 15.31 | 157.17 | 19.48 | 12.08 | 147.21 | 15.09 | 14.49 | 331.14 | 5.44 | 23.92 | 335.2 | 0.28 | 12.0 | 86.67 | 25.55 | 12.75 | 106.05 | 175.52 | -6.26 | -16.32 | 88.80 | -3.1 | 6.84 | 11.31 | 32.89 | -30.3 | 12.91 | 24.02 | -16.87 |
| 23Q2 (17) | 2.08 | 163.29 | 133.71 | 29.55 | 5.42 | 24.37 | 19.06 | 32.18 | 53.96 | 20.83 | 34.3 | 60.11 | 17.38 | 31.97 | 54.63 | 13.18 | 162.55 | 102.46 | 4.39 | 146.63 | 95.98 | 0.25 | 92.31 | 31.58 | 22.66 | 18.39 | 48.01 | 187.24 | -18.0 | -4.31 | 91.64 | -1.34 | -3.65 | 8.51 | 19.7 | 74.21 | 10.41 | -45.98 | -24.46 |
| 23Q1 (16) | 0.79 | -56.83 | 2733.33 | 28.03 | 67.84 | 69.88 | 14.42 | 350.62 | 634.07 | 15.51 | -23.82 | 1842.7 | 13.17 | -26.09 | 1613.79 | 5.02 | -57.57 | 1534.29 | 1.78 | -57.31 | 3660.0 | 0.13 | -43.48 | -7.14 | 19.14 | -14.55 | 707.59 | 228.35 | 30.99 | 11.04 | 92.89 | 493.38 | -70.67 | 7.11 | -91.55 | 103.41 | 19.27 | 42.53 | 27.28 |
| 22Q4 (15) | 1.83 | 251.92 | 181.54 | 16.70 | -35.57 | -6.29 | 3.20 | -58.97 | -43.36 | 20.36 | 117.99 | 215.66 | 17.82 | 126.14 | 225.18 | 11.83 | 238.0 | 142.42 | 4.17 | 233.6 | 139.66 | 0.23 | 53.33 | -23.33 | 22.40 | 80.65 | 183.54 | 174.32 | -16.89 | -4.17 | 15.65 | -81.17 | -82.08 | 84.16 | 418.44 | 566.56 | 13.52 | -12.94 | 38.67 |
| 22Q3 (14) | 0.52 | -41.57 | 188.89 | 25.92 | 9.09 | 88.37 | 7.80 | -37.0 | 39.53 | 9.34 | -28.21 | 182.18 | 7.88 | -29.89 | 236.75 | 3.50 | -46.24 | 150.0 | 1.25 | -44.2 | 140.38 | 0.15 | -21.05 | -25.0 | 12.40 | -19.01 | 129.63 | 209.74 | 7.19 | 2.56 | 83.12 | -12.61 | -50.58 | 16.23 | 232.17 | 123.81 | 15.53 | 12.7 | 49.76 |
| 22Q2 (13) | 0.89 | 3066.67 | 256.0 | 23.76 | 44.0 | 53.79 | 12.38 | 558.52 | 227.51 | 13.01 | 1561.8 | 252.57 | 11.24 | 1391.95 | 314.76 | 6.51 | 1960.0 | 227.14 | 2.24 | 4580.0 | 187.18 | 0.19 | 35.71 | -26.92 | 15.31 | 545.99 | 177.86 | 195.68 | -4.85 | 3.88 | 95.11 | -69.96 | -7.0 | 4.89 | 102.35 | 315.04 | 13.78 | -8.98 | 59.86 |
| 22Q1 (12) | -0.03 | -104.62 | -175.0 | 16.50 | -7.41 | 19.31 | -2.70 | -147.79 | -336.84 | -0.89 | -113.8 | -194.68 | -0.87 | -115.88 | -252.63 | -0.35 | -107.17 | -229.63 | -0.05 | -102.87 | -129.41 | 0.14 | -53.33 | -22.22 | 2.37 | -70.0 | -32.48 | 205.65 | 13.05 | 18.87 | 316.67 | 262.43 | 163.89 | -208.33 | -1750.0 | -941.67 | 15.14 | 55.28 | 16.46 |
| 21Q4 (11) | 0.65 | 261.11 | 10.17 | 17.82 | 29.51 | 29.6 | 5.65 | 1.07 | 21.51 | 6.45 | 94.86 | -13.19 | 5.48 | 134.19 | -6.96 | 4.88 | 248.57 | 10.16 | 1.74 | 234.62 | 1.75 | 0.30 | 50.0 | 7.14 | 7.90 | 46.3 | -12.03 | 181.91 | -11.05 | 25.4 | 87.37 | -48.05 | 40.09 | 12.63 | 118.52 | -65.98 | 9.75 | -5.98 | -5.06 |
| 21Q3 (10) | 0.18 | -28.0 | -73.13 | 13.76 | -10.94 | -20.92 | 5.59 | 47.88 | -35.6 | 3.31 | -10.3 | -61.78 | 2.34 | -13.65 | -67.99 | 1.40 | -29.65 | -73.53 | 0.52 | -33.33 | -72.63 | 0.20 | -23.08 | -20.0 | 5.40 | -2.0 | -47.73 | 204.50 | 8.56 | 5.29 | 168.18 | 64.44 | 67.37 | -68.18 | -2900.0 | 0 | 10.37 | 20.3 | 0.39 |
| 21Q2 (9) | 0.25 | 525.0 | -47.92 | 15.45 | 11.71 | -14.07 | 3.78 | 231.58 | -51.6 | 3.69 | 292.55 | -52.81 | 2.71 | 375.44 | -61.12 | 1.99 | 637.04 | -50.13 | 0.78 | 358.82 | -47.3 | 0.26 | 44.44 | 30.0 | 5.51 | 56.98 | -44.96 | 188.37 | 8.88 | 3.63 | 102.27 | -14.77 | 2.27 | -2.27 | 88.64 | 0 | 8.62 | -33.69 | 0 |
| 21Q1 (8) | 0.04 | -93.22 | 100.0 | 13.83 | 0.58 | -9.49 | 1.14 | -75.48 | 267.74 | 0.94 | -87.35 | 113.64 | 0.57 | -90.32 | 137.5 | 0.27 | -93.91 | 125.0 | 0.17 | -90.06 | 70.0 | 0.18 | -35.71 | -5.26 | 3.51 | -60.91 | 33.97 | 173.01 | 19.27 | -3.38 | 120.00 | 92.4 | 68.0 | -20.00 | -153.89 | -170.0 | 13.00 | 26.58 | 0 |
| 20Q4 (7) | 0.59 | -11.94 | -21.33 | 13.75 | -20.98 | -10.42 | 4.65 | -46.43 | -39.45 | 7.43 | -14.2 | -1.33 | 5.89 | -19.43 | -7.54 | 4.43 | -16.26 | -25.3 | 1.71 | -10.0 | -23.66 | 0.28 | 12.0 | -17.65 | 8.98 | -13.07 | 2.86 | 145.06 | -25.32 | -5.88 | 62.37 | -37.93 | -38.96 | 37.11 | 0 | 2234.02 | 10.27 | -0.58 | 34.42 |
| 20Q3 (6) | 0.67 | 39.58 | 28.85 | 17.40 | -3.23 | -7.84 | 8.68 | 11.14 | 18.1 | 8.66 | 10.74 | 6.39 | 7.31 | 4.88 | -24.56 | 5.29 | 32.58 | 20.78 | 1.90 | 28.38 | 14.46 | 0.25 | 25.0 | 56.25 | 10.33 | 3.2 | -8.26 | 194.23 | 6.85 | 0.72 | 100.49 | 0.49 | 11.22 | 0.00 | 0 | -100.0 | 10.33 | 0 | -14.2 |
| 20Q2 (5) | 0.48 | 2300.0 | 292.0 | 17.98 | 17.67 | 69.62 | 7.81 | 2419.35 | 279.13 | 7.82 | 1677.27 | 266.38 | 6.97 | 2804.17 | 268.36 | 3.99 | 3225.0 | 301.52 | 1.48 | 1380.0 | 317.65 | 0.20 | 5.26 | 5.26 | 10.01 | 282.06 | 672.0 | 181.77 | 1.51 | 11.73 | 100.00 | 40.0 | 7.69 | 0.00 | -100.0 | -100.0 | 0.00 | 0 | -100.0 |
| 20Q1 (4) | 0.02 | -97.33 | 0.0 | 15.28 | -0.46 | 0.0 | 0.31 | -95.96 | 0.0 | 0.44 | -94.16 | 0.0 | 0.24 | -96.23 | 0.0 | 0.12 | -97.98 | 0.0 | 0.10 | -95.54 | 0.0 | 0.19 | -44.12 | 0.0 | 2.62 | -69.99 | 0.0 | 179.07 | 16.19 | 0.0 | 71.43 | -30.09 | 0.0 | 28.57 | 1742.86 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (3) | 0.75 | 44.23 | 0.0 | 15.35 | -18.7 | 0.0 | 7.68 | 4.49 | 0.0 | 7.53 | -7.49 | 0.0 | 6.37 | -34.26 | 0.0 | 5.93 | 35.39 | 0.0 | 2.24 | 34.94 | 0.0 | 0.34 | 112.5 | 0.0 | 8.73 | -22.47 | 0.0 | 154.12 | -20.08 | 0.0 | 102.17 | 13.09 | 0.0 | -1.74 | -118.02 | 0.0 | 7.64 | -36.54 | 0.0 |
| 19Q3 (2) | 0.52 | 308.0 | 0.0 | 18.88 | 78.11 | 0.0 | 7.35 | 268.58 | 0.0 | 8.14 | 273.19 | 0.0 | 9.69 | 334.06 | 0.0 | 4.38 | 321.21 | 0.0 | 1.66 | 344.12 | 0.0 | 0.16 | -15.79 | 0.0 | 11.26 | 743.43 | 0.0 | 192.84 | 18.53 | 0.0 | 90.35 | -2.7 | 0.0 | 9.65 | 35.09 | 0.0 | 12.04 | -24.89 | 0.0 |
| 19Q2 (1) | -0.25 | 0.0 | 0.0 | 10.60 | 0.0 | 0.0 | -4.36 | 0.0 | 0.0 | -4.70 | 0.0 | 0.0 | -4.14 | 0.0 | 0.0 | -1.98 | 0.0 | 0.0 | -0.68 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | -1.75 | 0.0 | 0.0 | 162.69 | 0.0 | 0.0 | 92.86 | 0.0 | 0.0 | 7.14 | 0.0 | 0.0 | 16.03 | 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) | 9.87 | 207.48 | 31.18 | 52.25 | 20.53 | 270.58 | 1.04 | -36.33 | 22.10 | 80.41 | 18.43 | 73.7 | 49.28 | 133.22 | 19.31 | 142.89 | 1.03 | 43.06 | 23.70 | 60.14 | 148.62 | -14.74 | 92.90 | 105.73 | 7.10 | -87.06 | 0.43 | -11.15 | 12.79 | -10.62 |
| 2022 (9) | 3.21 | 189.19 | 20.48 | 31.28 | 5.54 | 27.36 | 1.64 | 20.16 | 12.25 | 201.72 | 10.61 | 232.6 | 21.13 | 159.58 | 7.95 | 137.31 | 0.72 | -25.77 | 14.80 | 149.16 | 174.32 | -4.17 | 45.16 | -57.84 | 54.84 | 0 | 0.49 | 17.9 | 14.31 | 40.85 |
| 2021 (8) | 1.11 | -36.57 | 15.60 | -2.38 | 4.35 | -22.32 | 1.36 | -2.92 | 4.06 | -37.35 | 3.19 | -40.93 | 8.14 | -38.38 | 3.35 | -39.64 | 0.97 | -1.02 | 5.94 | -28.69 | 181.91 | 25.4 | 107.10 | 24.05 | -7.10 | 0 | 0.41 | 15.86 | 10.16 | -5.31 |
| 2020 (7) | 1.75 | 11.46 | 15.98 | 1.78 | 5.60 | 21.48 | 1.40 | -9.18 | 6.48 | -7.3 | 5.40 | -6.57 | 13.21 | 2.48 | 5.55 | -3.14 | 0.98 | 5.38 | 8.33 | -8.76 | 145.06 | -5.88 | 86.34 | 30.68 | 13.66 | -59.74 | 0.36 | 5.61 | 10.73 | -4.45 |
| 2019 (6) | 1.57 | 582.61 | 15.70 | 50.82 | 4.61 | 1995.45 | 1.55 | 10.42 | 6.99 | 459.2 | 5.78 | 549.44 | 12.89 | 649.42 | 5.73 | 416.22 | 0.93 | 8.14 | 9.13 | 179.2 | 154.12 | 25.43 | 66.07 | 281.16 | 33.93 | -58.95 | 0.34 | 9.79 | 11.23 | 6.14 |
| 2018 (5) | 0.23 | -36.11 | 10.41 | -17.25 | 0.22 | -91.76 | 1.40 | -0.94 | 1.25 | -41.86 | 0.89 | -42.95 | 1.72 | -40.07 | 1.11 | -30.19 | 0.86 | 2.38 | 3.27 | -20.44 | 122.87 | -3.19 | 17.33 | -86.09 | 82.67 | 0 | 0.31 | 0 | 10.58 | -2.31 |
| 2017 (4) | 0.36 | -62.5 | 12.58 | -29.13 | 2.67 | -51.28 | 1.41 | -1.26 | 2.15 | -58.81 | 1.56 | -63.97 | 2.87 | -62.82 | 1.59 | -56.68 | 0.84 | 9.09 | 4.11 | -43.47 | 126.92 | 11.58 | 124.60 | 18.65 | -24.60 | 0 | 0.00 | 0 | 10.83 | -3.99 |
| 2016 (3) | 0.96 | 11.63 | 17.75 | -0.67 | 5.48 | -3.01 | 1.43 | 3.6 | 5.22 | -0.19 | 4.33 | 9.9 | 7.72 | 8.12 | 3.67 | 6.38 | 0.77 | -2.53 | 7.27 | 0.14 | 113.75 | -22.91 | 105.02 | -2.79 | -5.02 | 0 | 0.00 | 0 | 11.28 | 5.82 |
| 2015 (2) | 0.86 | -14.0 | 17.87 | -6.44 | 5.65 | -11.58 | 1.38 | -17.66 | 5.23 | -17.77 | 3.94 | -22.75 | 7.14 | -16.3 | 3.45 | -23.33 | 0.79 | -4.82 | 7.26 | -14.08 | 147.55 | 31.73 | 108.03 | 7.7 | -8.03 | 0 | 0.00 | 0 | 10.66 | -2.74 |
| 2014 (1) | 1.00 | 127.27 | 19.10 | 0 | 6.39 | 0 | 1.68 | -16.06 | 6.36 | 0 | 5.10 | 0 | 8.53 | 0 | 4.50 | 0 | 0.83 | 5.06 | 8.45 | 47.99 | 112.01 | 27.14 | 100.31 | 20.37 | -0.61 | 0 | 0.00 | 0 | 10.96 | -4.53 |
