- 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) | 1.42 | 149.12 | 787.5 | 27.83 | -2.04 | 30.96 | 9.22 | 17.01 | 159.72 | 13.86 | 69.02 | 205.96 | 11.09 | 46.69 | 147.54 | 2.28 | 38.18 | 168.24 | 1.66 | 38.33 | 167.74 | 0.15 | -6.25 | 15.38 | 23.27 | 31.47 | 48.22 | 40.04 | 1.91 | -10.22 | 66.40 | -30.91 | -15.59 | 33.60 | 762.4 | 57.5 | 22.66 | -8.0 | -8.22 |
| 23Q4 (19) | 0.57 | -64.38 | 714.29 | 28.41 | 4.3 | 12.56 | 7.88 | -8.16 | 5.49 | 8.20 | -29.85 | 82.22 | 7.56 | -20.42 | 88.53 | 1.65 | -32.65 | 85.39 | 1.20 | -31.03 | 93.55 | 0.16 | -11.11 | 14.29 | 17.70 | -16.98 | 20.9 | 39.29 | -0.08 | -23.58 | 96.10 | 30.95 | -42.07 | 3.90 | -85.36 | 105.91 | 24.63 | 17.12 | 6.12 |
| 23Q3 (18) | 1.60 | 8.11 | -21.57 | 27.24 | 14.02 | 26.87 | 8.58 | 25.99 | 650.0 | 11.69 | -1.35 | -29.41 | 9.50 | -14.57 | -22.19 | 2.45 | -3.92 | -5.04 | 1.74 | -2.79 | 11.54 | 0.18 | 12.5 | 50.0 | 21.32 | 6.65 | -16.91 | 39.32 | -17.05 | -41.48 | 73.39 | 27.58 | 870.56 | 26.61 | -37.35 | -75.7 | 21.03 | -6.28 | -7.48 |
| 23Q2 (17) | 1.48 | 825.0 | -56.08 | 23.89 | 12.42 | 31.99 | 6.81 | 91.83 | -3.68 | 11.85 | 161.59 | -14.93 | 11.12 | 148.21 | 5.0 | 2.55 | 200.0 | -36.72 | 1.79 | 188.71 | -27.53 | 0.16 | 23.08 | -30.43 | 19.99 | 27.32 | 6.67 | 47.40 | 6.28 | -41.12 | 57.52 | -26.88 | 13.35 | 42.48 | 99.12 | -13.76 | 22.44 | -9.11 | 58.81 |
| 23Q1 (16) | 0.16 | 128.57 | -93.92 | 21.25 | -15.81 | 28.32 | 3.55 | -52.48 | -32.89 | 4.53 | 0.67 | -56.36 | 4.48 | 11.72 | -44.69 | 0.85 | -4.49 | -73.1 | 0.62 | 0.0 | -69.9 | 0.13 | -7.14 | -48.0 | 15.70 | 7.24 | 6.08 | 44.60 | -13.25 | -13.87 | 78.67 | -52.58 | 54.34 | 21.33 | 132.38 | -56.49 | 24.69 | 6.38 | 73.63 |
| 22Q4 (15) | 0.07 | -96.57 | 117.5 | 25.24 | 17.56 | 57.75 | 7.47 | 578.85 | 789.29 | 4.50 | -72.83 | 347.25 | 4.01 | -67.16 | 324.02 | 0.89 | -65.5 | 285.42 | 0.62 | -60.26 | 329.63 | 0.14 | 16.67 | -17.65 | 14.64 | -42.95 | 218.26 | 51.41 | -23.49 | -14.44 | 165.88 | 1841.76 | 461.93 | -65.88 | -160.15 | -145.18 | 23.21 | 2.11 | 22.87 |
| 22Q3 (14) | 2.04 | -39.47 | 1175.0 | 21.47 | 18.62 | 56.26 | -1.56 | -122.07 | -147.62 | 16.56 | 18.88 | 1291.6 | 12.21 | 15.3 | 1256.67 | 2.58 | -35.98 | 855.56 | 1.56 | -36.84 | 680.0 | 0.12 | -47.83 | -40.0 | 25.66 | 36.93 | 296.6 | 67.19 | -16.53 | 20.82 | -9.52 | -118.77 | 81.9 | 109.52 | 122.37 | -28.24 | 22.73 | 60.86 | 25.23 |
| 22Q2 (13) | 3.37 | 28.14 | -3.44 | 18.10 | 9.3 | -22.52 | 7.07 | 33.65 | -48.17 | 13.93 | 34.2 | 18.05 | 10.59 | 30.74 | 13.99 | 4.03 | 27.53 | 4.95 | 2.47 | 19.9 | -1.98 | 0.23 | -8.0 | -14.81 | 18.74 | 26.62 | 21.45 | 80.50 | 55.47 | 56.89 | 50.75 | -0.44 | -56.17 | 49.25 | 0.46 | 419.55 | 14.13 | -0.63 | -0.14 |
| 22Q1 (12) | 2.63 | 757.5 | -51.48 | 16.56 | 3.5 | -33.44 | 5.29 | 529.76 | -66.69 | 10.38 | 670.33 | -36.55 | 8.10 | 552.51 | -37.21 | 3.16 | 758.33 | -49.76 | 2.06 | 862.96 | -49.01 | 0.25 | 47.06 | -19.35 | 14.80 | 221.74 | -24.37 | 51.78 | -13.83 | -6.64 | 50.97 | 211.21 | -47.52 | 49.03 | -66.38 | 1599.68 | 14.22 | -24.72 | 12.15 |
| 21Q4 (11) | -0.40 | -350.0 | -111.27 | 16.00 | 16.45 | -46.27 | 0.84 | 233.33 | -95.38 | -1.82 | -252.94 | -112.14 | -1.79 | -298.89 | -115.7 | -0.48 | -277.78 | -110.81 | -0.27 | -235.0 | -109.57 | 0.17 | -15.0 | -32.0 | 4.60 | -28.9 | -76.52 | 60.09 | 8.06 | 3.76 | -45.83 | 12.92 | -137.74 | 145.83 | -4.45 | 779.77 | 18.89 | 4.08 | 17.69 |
| 21Q3 (10) | 0.16 | -95.42 | -96.92 | 13.74 | -41.18 | -54.12 | -0.63 | -104.62 | -103.07 | 1.19 | -89.92 | -93.73 | 0.90 | -90.31 | -93.63 | 0.27 | -92.97 | -95.99 | 0.20 | -92.06 | -95.38 | 0.20 | -25.93 | -33.33 | 6.47 | -58.07 | -71.21 | 55.61 | 8.38 | -7.29 | -52.63 | -145.45 | -148.65 | 152.63 | 1090.24 | 1966.47 | 18.15 | 28.27 | 37.71 |
| 21Q2 (9) | 3.49 | -35.61 | 14.43 | 23.36 | -6.11 | -13.8 | 13.64 | -14.11 | -18.37 | 11.80 | -27.87 | -24.84 | 9.29 | -27.98 | -19.91 | 3.84 | -38.95 | -2.78 | 2.52 | -37.62 | -10.64 | 0.27 | -12.9 | 12.5 | 15.43 | -21.15 | -24.25 | 51.31 | -7.48 | -2.86 | 115.79 | 19.23 | 8.93 | -15.41 | -634.34 | -144.69 | 14.15 | 11.59 | 0 |
| 21Q1 (8) | 5.42 | 52.68 | 177.95 | 24.88 | -16.45 | 6.42 | 15.88 | -12.65 | 73.93 | 16.36 | 9.14 | 19.33 | 12.90 | 13.16 | 25.61 | 6.29 | 41.67 | 153.63 | 4.04 | 43.26 | 112.63 | 0.31 | 24.0 | 72.22 | 19.57 | -0.1 | -3.45 | 55.46 | -4.23 | 91.37 | 97.12 | -20.04 | 45.22 | 2.88 | 113.45 | -91.45 | 12.68 | -21.0 | -31.72 |
| 20Q4 (7) | 3.55 | -31.73 | 85.86 | 29.78 | -0.57 | 16.6 | 18.18 | -11.49 | 45.79 | 14.99 | -21.06 | 33.6 | 11.40 | -19.32 | 22.58 | 4.44 | -34.12 | 79.76 | 2.82 | -34.87 | 54.95 | 0.25 | -16.67 | 31.58 | 19.59 | -12.82 | 15.92 | 57.91 | -3.45 | 69.82 | 121.45 | 12.27 | 9.15 | -21.45 | -162.34 | -90.4 | 16.05 | 21.78 | 0 |
| 20Q3 (6) | 5.20 | 70.49 | 16.07 | 29.95 | 10.52 | 13.71 | 20.54 | 22.92 | 13.36 | 18.99 | 20.96 | 2.21 | 14.13 | 21.81 | 2.39 | 6.74 | 70.63 | 12.15 | 4.33 | 53.55 | 2.85 | 0.30 | 25.0 | 0.0 | 22.47 | 10.31 | 1.31 | 59.98 | 13.56 | 55.87 | 108.18 | 1.77 | 11.16 | -8.18 | -29.82 | -438.91 | 13.18 | 0 | 6.81 |
| 20Q2 (5) | 3.05 | 56.41 | -11.08 | 27.10 | 15.91 | 11.07 | 16.71 | 83.02 | 13.29 | 15.70 | 14.51 | -11.2 | 11.60 | 12.95 | -12.12 | 3.95 | 59.27 | -11.24 | 2.82 | 48.42 | -10.76 | 0.24 | 33.33 | 0.0 | 20.37 | 0.49 | -7.83 | 52.82 | 82.26 | 11.36 | 106.30 | 58.95 | 27.65 | -6.30 | -118.66 | -137.66 | 0.00 | -100.0 | -100.0 |
| 20Q1 (4) | 1.95 | 2.09 | 0.0 | 23.38 | -8.46 | 0.0 | 9.13 | -26.78 | 0.0 | 13.71 | 22.19 | 0.0 | 10.27 | 10.43 | 0.0 | 2.48 | 0.4 | 0.0 | 1.90 | 4.4 | 0.0 | 0.18 | -5.26 | 0.0 | 20.27 | 19.94 | 0.0 | 28.98 | -15.01 | 0.0 | 66.88 | -39.9 | 0.0 | 33.75 | 399.53 | 0.0 | 18.57 | 0 | 0.0 |
| 19Q4 (3) | 1.91 | -57.37 | 0.0 | 25.54 | -3.04 | 0.0 | 12.47 | -31.18 | 0.0 | 11.22 | -39.61 | 0.0 | 9.30 | -32.61 | 0.0 | 2.47 | -58.9 | 0.0 | 1.82 | -56.77 | 0.0 | 0.19 | -36.67 | 0.0 | 16.90 | -23.81 | 0.0 | 34.10 | -11.38 | 0.0 | 111.27 | 14.33 | 0.0 | -11.27 | -566.98 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (2) | 4.48 | 30.61 | 0.0 | 26.34 | 7.95 | 0.0 | 18.12 | 22.85 | 0.0 | 18.58 | 5.09 | 0.0 | 13.80 | 4.55 | 0.0 | 6.01 | 35.06 | 0.0 | 4.21 | 33.23 | 0.0 | 0.30 | 25.0 | 0.0 | 22.18 | 0.36 | 0.0 | 38.48 | -18.87 | 0.0 | 97.32 | 16.87 | 0.0 | 2.41 | -85.57 | 0.0 | 12.34 | -7.43 | 0.0 |
| 19Q2 (1) | 3.43 | 0.0 | 0.0 | 24.40 | 0.0 | 0.0 | 14.75 | 0.0 | 0.0 | 17.68 | 0.0 | 0.0 | 13.20 | 0.0 | 0.0 | 4.45 | 0.0 | 0.0 | 3.16 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 22.10 | 0.0 | 0.0 | 47.43 | 0.0 | 0.0 | 83.27 | 0.0 | 0.0 | 16.73 | 0.0 | 0.0 | 13.33 | 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) | 3.81 | -52.55 | 25.37 | 25.53 | 6.86 | 36.93 | 7.97 | 39.84 | 9.30 | -15.3 | 8.33 | -1.88 | 7.25 | -18.54 | 5.12 | -14.24 | 0.60 | -11.76 | 18.85 | 5.19 | 39.29 | -23.58 | 73.68 | 61.45 | 26.17 | -51.85 | 13.26 | 6.41 | 23.08 | 26.74 |
| 2022 (9) | 8.03 | -7.38 | 20.21 | -1.94 | 5.01 | -45.72 | 5.70 | 62.86 | 10.98 | 25.2 | 8.49 | 24.12 | 8.90 | -15.48 | 5.97 | -11.16 | 0.68 | -29.9 | 17.92 | 37.0 | 51.41 | -14.44 | 45.64 | -56.67 | 54.36 | 0 | 12.46 | 2511.49 | 18.21 | 18.94 |
| 2021 (8) | 8.67 | -36.99 | 20.61 | -26.76 | 9.23 | -45.96 | 3.50 | -6.3 | 8.77 | -45.96 | 6.84 | -43.66 | 10.53 | -38.64 | 6.72 | -43.0 | 0.97 | 0.0 | 13.08 | -37.21 | 60.09 | 3.76 | 105.32 | 0.1 | -5.32 | 0 | 0.48 | -7.13 | 15.31 | 0.13 |
| 2020 (7) | 13.76 | 23.3 | 28.14 | 12.16 | 17.08 | 19.11 | 3.73 | -4.5 | 16.23 | 6.5 | 12.14 | 4.75 | 17.16 | 20.34 | 11.79 | 13.04 | 0.97 | 7.78 | 20.83 | 4.25 | 57.91 | 69.82 | 105.22 | 11.89 | -5.22 | 0 | 0.51 | -15.15 | 15.29 | 1.8 |
| 2019 (6) | 11.16 | -26.87 | 25.09 | -0.87 | 14.34 | -8.19 | 3.91 | 29.7 | 15.24 | -20.71 | 11.59 | -17.86 | 14.26 | -29.72 | 10.43 | -25.39 | 0.90 | -8.16 | 19.98 | -13.17 | 34.10 | -15.86 | 94.03 | 15.69 | 5.97 | -68.13 | 0.61 | 17.83 | 15.02 | 3.51 |
| 2018 (5) | 15.26 | 75.81 | 25.31 | 0.16 | 15.62 | 5.61 | 3.01 | -2.36 | 19.22 | 61.92 | 14.11 | 57.13 | 20.29 | 69.79 | 13.98 | 66.63 | 0.98 | 6.52 | 23.01 | 44.44 | 40.53 | -22.48 | 81.28 | -34.68 | 18.72 | 0 | 0.51 | 0 | 14.51 | -2.16 |
| 2017 (4) | 8.68 | -38.26 | 25.27 | -8.81 | 14.79 | -15.58 | 3.09 | -1.9 | 11.87 | -35.28 | 8.98 | -36.85 | 11.95 | -37.66 | 8.39 | -41.0 | 0.92 | -8.0 | 15.93 | -28.88 | 52.28 | 44.5 | 124.44 | 30.32 | -24.58 | 0 | 0.00 | 0 | 14.83 | 5.48 |
| 2016 (3) | 14.06 | -0.92 | 27.71 | 7.65 | 17.52 | 12.45 | 3.15 | -5.82 | 18.34 | -2.96 | 14.22 | -1.46 | 19.17 | -6.72 | 14.22 | -7.06 | 1.00 | -5.66 | 22.40 | -3.74 | 36.18 | 4.69 | 95.49 | 15.87 | 4.51 | -74.35 | 0.00 | 0 | 14.06 | 8.99 |
| 2015 (2) | 14.19 | 3.58 | 25.74 | 6.32 | 15.58 | 3.18 | 3.34 | 31.23 | 18.90 | 9.63 | 14.43 | 7.69 | 20.55 | -3.93 | 15.30 | -0.91 | 1.06 | -7.83 | 23.27 | 13.79 | 34.56 | 0.29 | 82.41 | -5.88 | 17.59 | 41.38 | 0.00 | 0 | 12.90 | 5.74 |
| 2014 (1) | 13.70 | 4.98 | 24.21 | 0 | 15.10 | 0 | 2.55 | 2.47 | 17.24 | 0 | 13.40 | 0 | 21.39 | 0 | 15.44 | 0 | 1.15 | -5.74 | 20.45 | 3.65 | 34.46 | -20.12 | 87.56 | -5.8 | 12.44 | 73.81 | 0.00 | 0 | 12.20 | -4.61 |
