- 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) | 1.09 | 11.22 | -1.8 | 10.66 | -18.63 | 11.27 | 3.20 | -33.75 | 24.51 | 24.59 | -4.02 | -21.36 | 19.84 | 4.04 | -12.68 | 1.65 | 11.49 | -5.17 | 1.37 | 11.38 | -4.86 | 0.07 | 16.67 | 16.67 | 29.53 | -4.28 | -17.58 | 17.97 | -21.39 | -6.89 | 13.13 | -29.97 | 63.41 | 86.87 | 6.92 | -5.54 | 15.62 | -9.24 | -4.35 |
| 24Q2 (19) | 0.98 | 48.48 | 22.5 | 13.10 | 32.19 | 6.59 | 4.83 | 481.93 | -9.04 | 25.62 | 19.89 | 48.69 | 19.07 | 21.39 | 37.89 | 1.48 | 48.0 | 18.4 | 1.23 | 46.43 | 19.42 | 0.06 | 20.0 | -14.29 | 30.85 | 12.14 | 45.66 | 22.86 | 24.17 | -0.09 | 18.75 | 312.5 | -40.49 | 81.25 | -14.88 | 16.3 | 17.21 | -8.8 | 12.19 |
| 24Q1 (18) | 0.66 | -31.25 | -74.9 | 9.91 | 0.3 | -23.06 | 0.83 | -54.89 | -86.0 | 21.37 | -47.55 | -55.87 | 15.71 | -20.09 | -62.92 | 1.00 | -31.97 | -75.49 | 0.84 | -32.26 | -75.22 | 0.05 | -16.67 | -37.5 | 27.51 | -39.78 | -47.19 | 18.41 | -8.95 | -5.73 | 4.55 | -5.19 | -62.96 | 95.45 | -0.45 | 8.81 | 18.87 | 24.06 | 20.58 |
| 23Q4 (17) | 0.96 | -13.51 | 47.69 | 9.88 | 3.13 | -5.45 | 1.84 | -28.4 | -51.45 | 40.74 | 30.28 | 118.33 | 19.66 | -13.47 | 72.61 | 1.47 | -15.52 | 42.72 | 1.24 | -13.89 | 45.88 | 0.06 | 0.0 | -14.29 | 45.68 | 27.49 | 104.29 | 20.22 | 4.77 | -5.6 | 4.79 | -40.33 | -76.63 | 95.89 | 4.27 | 20.64 | 15.21 | -6.86 | 3.61 |
| 23Q3 (16) | 1.11 | 38.75 | -13.95 | 9.58 | -22.05 | 1.48 | 2.57 | -51.6 | -19.18 | 31.27 | 81.49 | 15.01 | 22.72 | 64.28 | 0.09 | 1.74 | 39.2 | -16.35 | 1.44 | 39.81 | -15.29 | 0.06 | -14.29 | -14.29 | 35.83 | 69.17 | 17.02 | 19.30 | -15.65 | -7.92 | 8.04 | -74.5 | -29.53 | 91.96 | 31.64 | 4.84 | 16.33 | 6.45 | 5.97 |
| 23Q2 (15) | 0.80 | -69.58 | -12.09 | 12.29 | -4.58 | 20.14 | 5.31 | -10.46 | 66.46 | 17.23 | -64.42 | -13.85 | 13.83 | -67.36 | -25.08 | 1.25 | -69.36 | -14.38 | 1.03 | -69.62 | -14.88 | 0.07 | -12.5 | 0.0 | 21.18 | -59.34 | -10.86 | 22.88 | 17.15 | -5.3 | 31.51 | 156.72 | 89.04 | 69.86 | -20.36 | -17.54 | 15.34 | -1.98 | -6.46 |
| 23Q1 (14) | 2.63 | 304.62 | 216.87 | 12.88 | 23.25 | 42.32 | 5.93 | 56.46 | 332.85 | 48.42 | 159.49 | 95.24 | 42.37 | 271.99 | 112.38 | 4.08 | 296.12 | 204.48 | 3.39 | 298.82 | 200.0 | 0.08 | 14.29 | 33.33 | 52.09 | 132.96 | 77.9 | 19.53 | -8.82 | 5.4 | 12.27 | -40.17 | 130.11 | 87.73 | 10.37 | -7.33 | 15.65 | 6.61 | -16.22 |
| 22Q4 (13) | 0.65 | -49.61 | -52.55 | 10.45 | 10.7 | 41.6 | 3.79 | 19.18 | 429.57 | 18.66 | -31.37 | -54.01 | 11.39 | -49.82 | -68.31 | 1.03 | -50.48 | -55.02 | 0.85 | -50.0 | -55.5 | 0.07 | 0.0 | 40.0 | 22.36 | -26.98 | -50.49 | 21.42 | 2.19 | 7.42 | 20.51 | 79.88 | 872.65 | 79.49 | -9.38 | -22.57 | 14.68 | -4.74 | -18.17 |
| 22Q3 (12) | 1.29 | 41.76 | 86.96 | 9.44 | -7.72 | 187.8 | 3.18 | -0.31 | 234.75 | 27.19 | 35.95 | 26.76 | 22.70 | 22.97 | 37.24 | 2.08 | 42.47 | 76.27 | 1.70 | 40.5 | 75.26 | 0.07 | 0.0 | 16.67 | 30.62 | 28.87 | 18.59 | 20.96 | -13.25 | 0.34 | 11.40 | -31.58 | 207.52 | 87.72 | 3.54 | -20.69 | 15.41 | -6.04 | -13.48 |
| 22Q2 (11) | 0.91 | 9.64 | -3.19 | 10.23 | 13.04 | 0.99 | 3.19 | 132.85 | -7.8 | 20.00 | -19.35 | -19.61 | 18.46 | -7.47 | -0.05 | 1.46 | 8.96 | -8.18 | 1.21 | 7.08 | -6.92 | 0.07 | 16.67 | 0.0 | 23.76 | -18.85 | -15.6 | 24.16 | 30.38 | -0.49 | 16.67 | 212.5 | 19.23 | 84.72 | -10.5 | -1.51 | 16.40 | -12.21 | -5.69 |
| 22Q1 (10) | 0.83 | -39.42 | -29.66 | 9.05 | 22.63 | -19.12 | 1.37 | 219.13 | -63.85 | 24.80 | -38.87 | -24.62 | 19.95 | -44.49 | -27.16 | 1.34 | -41.48 | -33.0 | 1.13 | -40.84 | -31.52 | 0.06 | 20.0 | 0.0 | 29.28 | -35.16 | -19.74 | 18.53 | -7.07 | -9.96 | 5.33 | 300.89 | -53.78 | 94.67 | -7.78 | 7.01 | 18.68 | 4.12 | -4.06 |
| 21Q4 (9) | 1.37 | 98.55 | -18.45 | 7.38 | 125.0 | -26.05 | -1.15 | 51.27 | -147.33 | 40.57 | 89.14 | -17.82 | 35.94 | 117.29 | -4.95 | 2.29 | 94.07 | -21.31 | 1.91 | 96.91 | -20.08 | 0.05 | -16.67 | -16.67 | 45.16 | 74.9 | -14.4 | 19.94 | -4.55 | -10.26 | -2.65 | 74.97 | -153.43 | 102.65 | -7.19 | 8.02 | 17.94 | 0.73 | 9.86 |
| 21Q3 (8) | 0.69 | -26.6 | -46.09 | 3.28 | -67.62 | -60.29 | -2.36 | -168.21 | -468.75 | 21.45 | -13.79 | -51.81 | 16.54 | -10.45 | -52.59 | 1.18 | -25.79 | -49.14 | 0.97 | -25.38 | -48.4 | 0.06 | -14.29 | 20.0 | 25.82 | -8.28 | -46.58 | 20.89 | -13.96 | -5.65 | -10.61 | -175.87 | -736.36 | 110.61 | 28.58 | 12.48 | 17.81 | 2.42 | 3.85 |
| 21Q2 (7) | 0.94 | -20.34 | -24.8 | 10.13 | -9.47 | 6.52 | 3.46 | -8.71 | 81.15 | 24.88 | -24.38 | -39.99 | 18.47 | -32.57 | -49.62 | 1.59 | -20.5 | -30.57 | 1.30 | -21.21 | -30.85 | 0.07 | 16.67 | 40.0 | 28.15 | -22.83 | -38.56 | 24.28 | 17.98 | -3.23 | 13.98 | 21.15 | 190.75 | 86.02 | -2.76 | -9.63 | 17.39 | -10.68 | 0 |
| 21Q1 (6) | 1.18 | -29.76 | 461.9 | 11.19 | 12.12 | 69.8 | 3.79 | 55.97 | 196.93 | 32.90 | -33.36 | 165.54 | 27.39 | -27.56 | 275.72 | 2.00 | -31.27 | 440.54 | 1.65 | -30.96 | 432.26 | 0.06 | 0.0 | 50.0 | 36.48 | -30.86 | 110.75 | 20.58 | -7.38 | 0.78 | 11.54 | 132.21 | 137.5 | 88.46 | -6.91 | -32.35 | 19.47 | 19.23 | 0 |
| 20Q4 (5) | 1.68 | 31.25 | 34.4 | 9.98 | 20.82 | -1.19 | 2.43 | 279.69 | -1.62 | 49.37 | 10.92 | 50.06 | 37.81 | 8.37 | 37.84 | 2.91 | 25.43 | 29.91 | 2.39 | 27.13 | 29.19 | 0.06 | 20.0 | -14.29 | 52.76 | 9.17 | 46.39 | 22.22 | 0.36 | -1.99 | 4.97 | 198.14 | -31.68 | 95.03 | -3.36 | 3.5 | 16.33 | -4.78 | 8.72 |
| 20Q3 (4) | 1.28 | 2.4 | 0.0 | 8.26 | -13.14 | 0.0 | 0.64 | -66.49 | 0.0 | 44.51 | 7.36 | 0.0 | 34.89 | -4.83 | 0.0 | 2.32 | 1.31 | 0.0 | 1.88 | 0.0 | 0.0 | 0.05 | 0.0 | 0.0 | 48.33 | 5.48 | 0.0 | 22.14 | -11.76 | 0.0 | 1.67 | -65.33 | 0.0 | 98.33 | 3.3 | 0.0 | 17.15 | 0 | 0.0 |
| 20Q2 (3) | 1.25 | 495.24 | 0.0 | 9.51 | 44.31 | 0.0 | 1.91 | 148.85 | 0.0 | 41.46 | 234.62 | 0.0 | 36.66 | 402.88 | 0.0 | 2.29 | 518.92 | 0.0 | 1.88 | 506.45 | 0.0 | 0.05 | 25.0 | 0.0 | 45.82 | 164.7 | 0.0 | 25.09 | 22.87 | 0.0 | 4.81 | 115.62 | 0.0 | 95.19 | -27.21 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 0.21 | -83.2 | 0.0 | 6.59 | -34.75 | 0.0 | -3.91 | -258.3 | 0.0 | 12.39 | -62.34 | 0.0 | 7.29 | -73.42 | 0.0 | 0.37 | -83.48 | 0.0 | 0.31 | -83.24 | 0.0 | 0.04 | -42.86 | 0.0 | 17.31 | -51.97 | 0.0 | 20.42 | -9.93 | 0.0 | -30.77 | -523.08 | 0.0 | 130.77 | 42.42 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 1.25 | 0.0 | 0.0 | 10.10 | 0.0 | 0.0 | 2.47 | 0.0 | 0.0 | 32.90 | 0.0 | 0.0 | 27.43 | 0.0 | 0.0 | 2.24 | 0.0 | 0.0 | 1.85 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | 36.04 | 0.0 | 0.0 | 22.67 | 0.0 | 0.0 | 7.27 | 0.0 | 0.0 | 91.82 | 0.0 | 0.0 | 15.02 | 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) | 5.50 | 49.46 | 11.31 | 15.06 | 4.09 | 37.25 | 3.94 | 13.72 | 34.54 | 52.83 | 25.26 | 40.49 | 8.59 | 44.13 | 7.13 | 43.75 | 0.28 | 3.7 | 38.74 | 46.74 | 20.22 | -5.6 | 11.78 | -11.29 | 88.22 | 1.73 | 0.10 | 192.54 | 15.62 | -3.04 |
| 2022 (9) | 3.68 | -11.96 | 9.83 | 20.76 | 2.98 | 161.4 | 3.47 | -3.84 | 22.60 | -23.34 | 17.98 | -25.24 | 5.96 | -14.86 | 4.96 | -14.48 | 0.27 | 12.5 | 26.40 | -20.74 | 21.42 | 7.42 | 13.27 | 232.74 | 86.73 | -9.92 | 0.04 | -36.72 | 16.11 | -11.14 |
| 2021 (8) | 4.18 | -5.22 | 8.14 | -7.08 | 1.14 | 90.0 | 3.61 | -5.1 | 29.48 | -24.31 | 24.05 | -21.84 | 7.00 | -8.97 | 5.80 | -8.08 | 0.24 | 20.0 | 33.31 | -22.73 | 19.94 | -10.26 | 3.99 | 172.61 | 96.28 | -2.29 | 0.06 | 48.9 | 18.13 | -4.98 |
| 2020 (7) | 4.41 | 11.65 | 8.76 | -10.25 | 0.60 | -74.68 | 3.80 | 34.8 | 38.95 | 14.8 | 30.77 | 31.83 | 7.69 | 9.08 | 6.31 | 8.42 | 0.20 | -20.0 | 43.11 | 16.14 | 22.22 | -1.99 | 1.46 | -78.76 | 98.54 | 5.83 | 0.04 | 90.73 | 19.08 | 4.95 |
| 2019 (6) | 3.95 | -35.98 | 9.76 | -3.94 | 2.37 | -10.9 | 2.82 | 10.9 | 33.93 | -15.79 | 23.34 | -31.11 | 7.05 | -37.78 | 5.82 | -37.42 | 0.25 | -7.41 | 37.12 | -14.07 | 22.67 | 7.85 | 6.89 | 3.13 | 93.11 | -0.22 | 0.02 | -50.62 | 18.18 | 10.79 |
| 2018 (5) | 6.17 | -16.17 | 10.16 | 13.27 | 2.66 | 274.65 | 2.54 | -9.98 | 40.29 | -23.01 | 33.88 | -26.73 | 11.33 | -22.02 | 9.30 | -21.19 | 0.27 | 8.0 | 43.20 | -22.43 | 21.02 | -10.32 | 6.68 | 410.95 | 93.32 | -5.29 | 0.04 | -35.74 | 16.41 | -5.85 |
| 2017 (4) | 7.36 | 2.08 | 8.97 | -7.33 | 0.71 | -48.18 | 2.82 | 8.73 | 52.33 | -0.66 | 46.24 | 4.33 | 14.53 | -4.78 | 11.80 | -4.68 | 0.25 | -10.71 | 55.69 | -0.16 | 23.44 | -0.51 | 1.31 | -48.61 | 98.53 | 1.1 | 0.06 | 0 | 17.43 | -4.65 |
| 2016 (3) | 7.21 | 14.26 | 9.68 | -10.95 | 1.37 | -53.4 | 2.60 | 0.67 | 52.68 | 31.93 | 44.32 | 21.79 | 15.26 | 13.29 | 12.38 | 13.16 | 0.28 | -6.67 | 55.78 | 29.93 | 23.56 | -0.3 | 2.54 | -65.11 | 97.46 | 5.12 | 0.00 | 0 | 18.28 | 5.48 |
| 2015 (2) | 6.31 | 36.58 | 10.87 | -3.29 | 2.94 | 53.93 | 2.58 | -4.41 | 39.93 | 32.88 | 36.39 | 35.03 | 13.47 | 24.38 | 10.94 | 24.32 | 0.30 | -9.09 | 42.93 | 30.21 | 23.63 | 2.87 | 7.29 | 12.86 | 92.71 | -1.19 | 0.00 | 0 | 17.33 | 4.02 |
| 2014 (1) | 4.62 | 7.44 | 11.24 | 0 | 1.91 | 0 | 2.70 | 6.71 | 30.05 | 0 | 26.95 | 0 | 10.83 | 0 | 8.80 | 0 | 0.33 | -8.33 | 32.97 | 1.82 | 22.97 | -1.84 | 6.46 | -24.14 | 93.82 | 2.25 | 0.00 | 0 | 16.66 | 7.69 |
