- 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) | 0.92 | -6.12 | -4.17 | 9.10 | 16.82 | -10.96 | 4.18 | 39.8 | -10.11 | 5.47 | 0.37 | -17.87 | 4.37 | -5.41 | -18.92 | 3.20 | -4.19 | -6.43 | 1.67 | -6.18 | -7.22 | 0.38 | 0.0 | 15.15 | 6.25 | 0.48 | -15.54 | 89.03 | -5.49 | 1.23 | 76.06 | 39.44 | 8.55 | 23.24 | -48.07 | -22.36 | 16.31 | 3.49 | -9.49 |
| 24Q2 (19) | 0.98 | 1.03 | -16.24 | 7.79 | -17.04 | -21.31 | 2.99 | -28.81 | -41.03 | 5.45 | -5.87 | -24.83 | 4.62 | 0.43 | -20.62 | 3.34 | 3.73 | -18.54 | 1.78 | 1.14 | -17.59 | 0.38 | 0.0 | 2.7 | 6.22 | -5.33 | -21.37 | 94.20 | 13.96 | 0.93 | 54.55 | -24.44 | -21.65 | 44.76 | 64.83 | 50.01 | 15.76 | -3.37 | 1.48 |
| 24Q1 (18) | 0.97 | -32.64 | 4.3 | 9.39 | -10.91 | 5.51 | 4.20 | -28.45 | 48.94 | 5.79 | -20.14 | -15.1 | 4.60 | -20.83 | -20.0 | 3.22 | -34.82 | 0.0 | 1.76 | -33.33 | 5.39 | 0.38 | -15.56 | 31.03 | 6.57 | -15.98 | -13.78 | 82.66 | -4.92 | -6.17 | 72.19 | -10.97 | 73.5 | 27.15 | 43.52 | -53.5 | 16.31 | 10.13 | -15.54 |
| 23Q4 (17) | 1.44 | 50.0 | 121.54 | 10.54 | 3.13 | 10.71 | 5.87 | 26.24 | 45.3 | 7.25 | 8.86 | 76.4 | 5.81 | 7.79 | 79.88 | 4.94 | 44.44 | 113.85 | 2.64 | 46.67 | 127.59 | 0.45 | 36.36 | 25.0 | 7.82 | 5.68 | 65.68 | 86.94 | -1.15 | -11.66 | 81.08 | 15.72 | -17.3 | 18.92 | -36.79 | 864.86 | 14.81 | -17.81 | -11.53 |
| 23Q3 (16) | 0.96 | -17.95 | -7.69 | 10.22 | 3.23 | 17.07 | 4.65 | -8.28 | 33.24 | 6.66 | -8.14 | -3.06 | 5.39 | -7.39 | -7.39 | 3.42 | -16.59 | -10.94 | 1.80 | -16.67 | -2.7 | 0.33 | -10.81 | 3.13 | 7.40 | -6.45 | -1.73 | 87.95 | -5.76 | -14.14 | 70.07 | 0.65 | 37.41 | 29.93 | 0.33 | -38.92 | 18.02 | 16.03 | 8.75 |
| 23Q2 (15) | 1.17 | 25.81 | -29.09 | 9.90 | 11.24 | 17.86 | 5.07 | 79.79 | 59.43 | 7.25 | 6.3 | -34.63 | 5.82 | 1.22 | -41.21 | 4.10 | 27.33 | -33.22 | 2.16 | 29.34 | -29.41 | 0.37 | 27.59 | 19.35 | 7.91 | 3.81 | -33.02 | 93.33 | 5.94 | -17.01 | 69.61 | 67.32 | 141.54 | 29.83 | -48.91 | -58.09 | 15.53 | -19.58 | -11.16 |
| 23Q1 (14) | 0.93 | 43.08 | 6.9 | 8.90 | -6.51 | -11.62 | 2.82 | -30.2 | -34.11 | 6.82 | 65.94 | 10.18 | 5.75 | 78.02 | 12.09 | 3.22 | 39.39 | -0.62 | 1.67 | 43.97 | 3.09 | 0.29 | -19.44 | -6.45 | 7.62 | 61.44 | 10.12 | 88.10 | -10.49 | -2.44 | 41.61 | -57.56 | -39.9 | 58.39 | 2878.1 | 89.78 | 19.31 | 15.35 | 13.26 |
| 22Q4 (13) | 0.65 | -37.5 | -17.72 | 9.52 | 9.05 | 15.82 | 4.04 | 15.76 | 71.91 | 4.11 | -40.17 | -14.37 | 3.23 | -44.5 | -21.41 | 2.31 | -39.84 | -24.76 | 1.16 | -37.3 | -20.55 | 0.36 | 12.5 | 0.0 | 4.72 | -37.32 | -12.92 | 98.42 | -3.91 | -12.5 | 98.04 | 92.26 | 99.58 | 1.96 | -96.0 | -96.15 | 16.74 | 1.03 | 3.21 |
| 22Q3 (12) | 1.04 | -36.97 | 30.0 | 8.73 | 3.93 | 7.51 | 3.49 | 9.75 | 44.21 | 6.87 | -38.05 | 9.92 | 5.82 | -41.21 | 17.58 | 3.84 | -37.46 | 19.63 | 1.85 | -39.54 | 23.33 | 0.32 | 3.23 | 6.67 | 7.53 | -36.24 | 7.88 | 102.43 | -8.92 | -5.07 | 50.99 | 76.93 | 30.09 | 49.01 | -31.15 | -20.44 | 16.57 | -5.21 | -2.64 |
| 22Q2 (11) | 1.65 | 89.66 | 73.68 | 8.40 | -16.58 | -14.37 | 3.18 | -25.7 | -22.06 | 11.09 | 79.16 | 54.89 | 9.90 | 92.98 | 61.24 | 6.14 | 89.51 | 58.25 | 3.06 | 88.89 | 67.21 | 0.31 | 0.0 | 3.33 | 11.81 | 70.66 | 49.49 | 112.46 | 24.54 | -7.26 | 28.82 | -58.37 | -49.65 | 71.18 | 131.33 | 66.49 | 17.48 | 2.52 | -0.51 |
| 22Q1 (10) | 0.87 | 10.13 | 20.83 | 10.07 | 22.51 | 26.35 | 4.28 | 82.13 | 57.35 | 6.19 | 28.96 | 27.63 | 5.13 | 24.82 | 26.04 | 3.24 | 5.54 | 10.2 | 1.62 | 10.96 | 17.39 | 0.31 | -13.89 | -8.82 | 6.92 | 27.68 | 25.36 | 90.30 | -19.72 | -12.15 | 69.23 | 40.93 | 24.38 | 30.77 | -39.52 | -29.1 | 17.05 | 5.12 | 12.24 |
| 21Q4 (9) | 0.79 | -1.25 | 43.64 | 8.22 | 1.23 | 35.2 | 2.35 | -2.89 | 78.03 | 4.80 | -23.2 | 45.02 | 4.11 | -16.97 | 57.47 | 3.07 | -4.36 | 32.9 | 1.46 | -2.67 | 36.45 | 0.36 | 20.0 | -12.2 | 5.42 | -22.35 | 40.78 | 112.48 | 4.24 | -11.54 | 49.12 | 25.31 | 24.25 | 50.88 | -17.41 | -15.86 | 16.22 | -4.7 | 16.69 |
| 21Q3 (8) | 0.80 | -15.79 | 73.91 | 8.12 | -17.23 | 55.85 | 2.42 | -40.69 | 796.3 | 6.25 | -12.71 | 107.64 | 4.95 | -19.38 | 97.21 | 3.21 | -17.27 | 64.62 | 1.50 | -18.03 | 54.64 | 0.30 | 0.0 | -23.08 | 6.98 | -11.65 | 91.23 | 107.90 | -11.02 | 0.84 | 39.20 | -31.52 | 344.27 | 61.60 | 44.08 | -32.44 | 17.02 | -3.13 | 20.62 |
| 21Q2 (7) | 0.95 | 31.94 | 171.43 | 9.81 | 23.09 | 77.08 | 4.08 | 50.0 | 871.43 | 7.16 | 47.63 | 179.69 | 6.14 | 50.86 | 181.65 | 3.88 | 31.97 | 162.16 | 1.83 | 32.61 | 144.0 | 0.30 | -11.76 | -11.76 | 7.90 | 43.12 | 140.12 | 121.27 | 17.98 | 26.64 | 57.25 | 2.85 | 257.79 | 42.75 | -1.48 | -49.1 | 17.57 | 15.67 | 13.28 |
| 21Q1 (6) | 0.72 | 30.91 | 200.0 | 7.97 | 31.09 | 20.03 | 2.72 | 106.06 | 240.0 | 4.85 | 46.53 | 177.14 | 4.07 | 55.94 | 171.33 | 2.94 | 27.27 | 188.24 | 1.38 | 28.97 | 170.59 | 0.34 | -17.07 | 3.03 | 5.52 | 43.38 | 122.58 | 102.79 | -19.16 | 1.35 | 55.66 | 40.79 | 21.76 | 43.40 | -28.23 | -20.06 | 15.19 | 9.28 | -2.94 |
| 20Q4 (5) | 0.55 | 19.57 | 66.67 | 6.08 | 16.7 | -0.49 | 1.32 | 388.89 | 140.0 | 3.31 | 9.97 | 52.53 | 2.61 | 3.98 | 45.0 | 2.31 | 18.46 | 69.85 | 1.07 | 10.31 | 64.62 | 0.41 | 5.13 | 17.14 | 3.85 | 5.48 | 34.62 | 127.16 | 18.84 | 17.73 | 39.53 | 348.06 | 61.43 | 60.47 | -33.68 | -17.7 | 13.90 | -1.49 | -1.91 |
| 20Q3 (4) | 0.46 | 31.43 | 0.0 | 5.21 | -5.96 | 0.0 | 0.27 | -35.71 | 0.0 | 3.01 | 17.58 | 0.0 | 2.51 | 15.14 | 0.0 | 1.95 | 31.76 | 0.0 | 0.97 | 29.33 | 0.0 | 0.39 | 14.71 | 0.0 | 3.65 | 10.94 | 0.0 | 107.00 | 11.74 | 0.0 | 8.82 | -44.85 | 0.0 | 91.18 | 8.54 | 0.0 | 14.11 | -9.03 | 0.0 |
| 20Q2 (3) | 0.35 | 45.83 | 0.0 | 5.54 | -16.57 | 0.0 | 0.42 | -47.5 | 0.0 | 2.56 | 46.29 | 0.0 | 2.18 | 45.33 | 0.0 | 1.48 | 45.1 | 0.0 | 0.75 | 47.06 | 0.0 | 0.34 | 3.03 | 0.0 | 3.29 | 32.66 | 0.0 | 95.76 | -5.58 | 0.0 | 16.00 | -65.0 | 0.0 | 84.00 | 54.74 | 0.0 | 15.51 | -0.89 | 0.0 |
| 20Q1 (2) | 0.24 | -27.27 | 0.0 | 6.64 | 8.67 | 0.0 | 0.80 | 45.45 | 0.0 | 1.75 | -19.35 | 0.0 | 1.50 | -16.67 | 0.0 | 1.02 | -25.0 | 0.0 | 0.51 | -21.54 | 0.0 | 0.33 | -5.71 | 0.0 | 2.48 | -13.29 | 0.0 | 101.42 | -6.1 | 0.0 | 45.71 | 86.67 | 0.0 | 54.29 | -26.11 | 0.0 | 15.65 | 10.44 | 0.0 |
| 19Q4 (1) | 0.33 | 0.0 | 0.0 | 6.11 | 0.0 | 0.0 | 0.55 | 0.0 | 0.0 | 2.17 | 0.0 | 0.0 | 1.80 | 0.0 | 0.0 | 1.36 | 0.0 | 0.0 | 0.65 | 0.0 | 0.0 | 0.35 | 0.0 | 0.0 | 2.86 | 0.0 | 0.0 | 108.01 | 0.0 | 0.0 | 24.49 | 0.0 | 0.0 | 73.47 | 0.0 | 0.0 | 14.17 | 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) | 4.50 | 6.89 | 9.97 | 8.49 | 4.76 | 26.6 | 0.59 | -2.66 | 7.03 | 1.59 | 5.71 | -3.06 | 15.53 | 0.58 | 8.08 | 7.16 | 1.41 | 10.16 | 7.71 | 1.31 | 86.94 | -11.66 | 67.78 | 24.58 | 32.22 | -29.33 | 0.16 | 24.4 | 16.64 | -1.77 |
| 2022 (9) | 4.21 | 29.14 | 9.19 | 8.24 | 3.76 | 31.47 | 0.61 | -2.25 | 6.92 | 21.62 | 5.89 | 23.74 | 15.44 | 18.31 | 7.54 | 26.51 | 1.28 | 2.4 | 7.61 | 19.28 | 98.42 | -12.5 | 54.41 | 8.6 | 45.59 | -8.63 | 0.13 | 121.67 | 16.94 | 2.98 |
| 2021 (8) | 3.26 | 103.75 | 8.49 | 44.63 | 2.86 | 291.78 | 0.62 | 6.14 | 5.69 | 109.96 | 4.76 | 113.45 | 13.05 | 95.95 | 5.96 | 93.51 | 1.25 | -8.76 | 6.38 | 89.32 | 112.48 | -11.54 | 50.10 | 84.23 | 49.90 | -31.86 | 0.06 | -2.03 | 16.45 | 11.75 |
| 2020 (7) | 1.60 | 55.34 | 5.87 | 2.98 | 0.73 | 108.57 | 0.59 | 14.22 | 2.71 | 53.98 | 2.23 | 63.97 | 6.66 | 56.71 | 3.08 | 67.39 | 1.37 | 4.58 | 3.37 | 41.6 | 127.16 | 17.73 | 27.20 | 39.38 | 73.22 | -8.33 | 0.06 | -38.85 | 14.72 | 10.68 |
| 2019 (6) | 1.03 | 30.38 | 5.70 | 21.79 | 0.35 | 34.62 | 0.52 | 193.25 | 1.76 | 34.35 | 1.36 | 49.45 | 4.25 | 31.58 | 1.84 | 40.46 | 1.31 | -5.07 | 2.38 | 46.91 | 108.01 | -36.29 | 19.51 | -4.46 | 79.88 | 0.38 | 0.10 | -1.75 | 13.30 | 18.96 |
| 2018 (5) | 0.79 | -47.68 | 4.68 | -35.09 | 0.26 | -89.64 | 0.18 | -7.8 | 1.31 | -46.53 | 0.91 | -51.34 | 3.23 | -45.81 | 1.31 | -48.63 | 1.38 | 5.34 | 1.62 | -42.35 | 169.54 | 13.22 | 20.42 | -80.15 | 79.58 | 0 | 0.10 | 0 | 11.18 | -5.57 |
| 2017 (4) | 1.51 | -24.5 | 7.21 | -39.36 | 2.51 | -58.92 | 0.19 | -15.0 | 2.45 | -48.2 | 1.87 | -36.18 | 5.96 | -19.46 | 2.55 | -27.97 | 1.31 | 11.02 | 2.81 | -45.33 | 149.74 | 10.13 | 102.87 | -20.37 | -2.46 | 0 | 0.00 | 0 | 11.84 | -16.74 |
| 2016 (3) | 2.00 | -51.34 | 11.89 | 31.53 | 6.11 | 53.13 | 0.22 | 7.29 | 4.73 | -22.46 | 2.93 | -44.92 | 7.40 | -48.14 | 3.54 | -50.83 | 1.18 | -12.59 | 5.14 | -20.19 | 135.97 | 43.1 | 129.18 | 97.49 | -29.18 | 0 | 0.00 | 0 | 14.22 | 8.88 |
| 2015 (2) | 4.11 | -25.41 | 9.04 | -9.05 | 3.99 | -22.97 | 0.21 | 8.16 | 6.10 | -26.42 | 5.32 | -19.15 | 14.27 | -27.6 | 7.20 | -19.91 | 1.35 | -1.46 | 6.44 | -24.85 | 95.02 | -8.04 | 65.41 | 4.71 | 34.59 | -7.83 | 0.00 | 0 | 13.06 | 5.75 |
| 2014 (1) | 5.51 | 8.89 | 9.94 | 0 | 5.18 | 0 | 0.19 | 10.13 | 8.29 | 0 | 6.58 | 0 | 19.71 | 0 | 8.99 | 0 | 1.37 | -7.43 | 8.57 | 12.76 | 103.33 | -24.54 | 62.47 | -12.54 | 37.53 | 31.97 | 0.00 | 0 | 12.35 | 10.47 |
