- 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) | 1.96 | 12.0 | -2.97 | 30.06 | -4.81 | -6.15 | 16.43 | -3.3 | -3.24 | 17.57 | -8.77 | -22.12 | 15.30 | 2.0 | -14.91 | 4.10 | 1.49 | -16.16 | 2.61 | 9.21 | -14.71 | 0.17 | 13.33 | 0.0 | 26.09 | -7.45 | -19.9 | 47.53 | -38.3 | -20.04 | 93.27 | 5.65 | 23.92 | 6.42 | -45.17 | -74.03 | 28.10 | -1.54 | -2.09 |
| 24Q2 (19) | 1.75 | -1.13 | 13.64 | 31.58 | -2.41 | 6.73 | 16.99 | 3.72 | 18.81 | 19.26 | -4.37 | 6.94 | 15.00 | -11.14 | 4.6 | 4.04 | -5.16 | 8.89 | 2.39 | -12.13 | 2.14 | 0.15 | -6.25 | -6.25 | 28.19 | -4.96 | 0.0 | 77.03 | 6.78 | 9.09 | 88.29 | 8.58 | 11.44 | 11.71 | -37.34 | -42.65 | 28.54 | -5.78 | -6.88 |
| 24Q1 (18) | 1.77 | 59.46 | 42.74 | 32.36 | 1.16 | 15.45 | 16.38 | -4.49 | 21.51 | 20.14 | 59.21 | 54.92 | 16.88 | 67.46 | 47.29 | 4.26 | 68.38 | 46.9 | 2.72 | 59.06 | 40.93 | 0.16 | 0.0 | 0.0 | 29.66 | 29.86 | 26.64 | 72.14 | 37.72 | 26.1 | 81.31 | -39.84 | -21.77 | 18.69 | 152.44 | 574.3 | 30.29 | 7.76 | 1.44 |
| 23Q4 (17) | 1.11 | -45.05 | -18.98 | 31.99 | -0.12 | -5.47 | 17.15 | 1.0 | 6.13 | 12.65 | -43.93 | -16.99 | 10.08 | -43.94 | -17.92 | 2.53 | -48.26 | -22.87 | 1.71 | -44.12 | -19.34 | 0.16 | -5.88 | -5.88 | 22.84 | -29.87 | -10.15 | 52.38 | -11.88 | -7.64 | 135.15 | 79.55 | 27.26 | -35.64 | -244.12 | -475.05 | 28.11 | -2.06 | -14.04 |
| 23Q3 (16) | 2.02 | 31.17 | -17.21 | 32.03 | 8.25 | -12.1 | 16.98 | 18.74 | -17.01 | 22.56 | 25.26 | -9.14 | 17.98 | 25.38 | -8.73 | 4.89 | 31.81 | -23.47 | 3.06 | 30.77 | -16.62 | 0.17 | 6.25 | -5.56 | 32.57 | 15.54 | -4.18 | 59.44 | -15.82 | -8.85 | 75.27 | -4.99 | -8.5 | 24.73 | 21.1 | 41.19 | 28.70 | -6.36 | -0.35 |
| 23Q2 (15) | 1.54 | 24.19 | -43.38 | 29.59 | 5.57 | -26.26 | 14.30 | 6.08 | -44.27 | 18.01 | 38.54 | -33.76 | 14.34 | 25.13 | -33.49 | 3.71 | 27.93 | -49.93 | 2.34 | 21.24 | -42.65 | 0.16 | 0.0 | -15.79 | 28.19 | 20.37 | -21.82 | 70.61 | 23.42 | -22.41 | 79.23 | -23.78 | -16.12 | 20.42 | 618.22 | 268.34 | 30.65 | 2.65 | 16.67 |
| 23Q1 (14) | 1.24 | -9.49 | -43.64 | 28.03 | -17.17 | -20.98 | 13.48 | -16.58 | -31.92 | 13.00 | -14.7 | -40.48 | 11.46 | -6.68 | -41.26 | 2.90 | -11.59 | -52.69 | 1.93 | -8.96 | -41.52 | 0.16 | -5.88 | -5.88 | 23.42 | -7.87 | -26.47 | 57.21 | 0.88 | -28.94 | 103.94 | -2.13 | 14.46 | -3.94 | 36.42 | -141.61 | 29.86 | -8.69 | 5.92 |
| 22Q4 (13) | 1.37 | -43.85 | -15.43 | 33.84 | -7.14 | 0.89 | 16.16 | -21.02 | -9.57 | 15.24 | -38.62 | -21.12 | 12.28 | -37.66 | -20.26 | 3.28 | -48.67 | -31.81 | 2.12 | -42.23 | -15.54 | 0.17 | -5.56 | 6.25 | 25.42 | -25.21 | -15.49 | 56.71 | -13.03 | -43.96 | 106.20 | 29.1 | 14.69 | -6.20 | -135.39 | -183.68 | 32.70 | 13.54 | 13.38 |
| 22Q3 (12) | 2.44 | -10.29 | 115.93 | 36.44 | -9.2 | 16.12 | 20.46 | -20.27 | 25.37 | 24.83 | -8.68 | 70.89 | 19.70 | -8.63 | 72.81 | 6.39 | -13.77 | 78.49 | 3.67 | -10.05 | 90.16 | 0.18 | -5.26 | 12.5 | 33.99 | -5.74 | 35.15 | 65.21 | -28.34 | -32.73 | 82.26 | -12.91 | -26.59 | 17.52 | 215.92 | 240.13 | 28.80 | 9.63 | 2.45 |
| 22Q2 (11) | 2.72 | 23.64 | 177.55 | 40.13 | 13.14 | 31.57 | 25.66 | 29.6 | 70.73 | 27.19 | 24.5 | 113.25 | 21.56 | 10.51 | 117.12 | 7.41 | 20.88 | 148.66 | 4.08 | 23.64 | 148.78 | 0.19 | 11.76 | 18.75 | 36.06 | 13.22 | 47.79 | 91.00 | 13.03 | 0.81 | 94.46 | 4.02 | -19.88 | 5.54 | -41.46 | 130.98 | 26.27 | -6.81 | -7.07 |
| 22Q1 (10) | 2.20 | 35.8 | 109.52 | 35.47 | 5.75 | 26.5 | 19.80 | 10.8 | 57.14 | 21.84 | 13.04 | 82.0 | 19.51 | 26.69 | 76.4 | 6.13 | 27.44 | 81.9 | 3.30 | 31.47 | 84.36 | 0.17 | 6.25 | 13.33 | 31.85 | 5.88 | 34.84 | 80.51 | -20.44 | -15.14 | 90.81 | -1.93 | -13.61 | 9.47 | 27.86 | 285.21 | 28.19 | -2.25 | 2.73 |
| 21Q4 (9) | 1.62 | 43.36 | 90.59 | 33.54 | 6.88 | 12.7 | 17.87 | 9.5 | 29.96 | 19.32 | 32.97 | 64.01 | 15.40 | 35.09 | 68.86 | 4.81 | 34.36 | 85.0 | 2.51 | 30.05 | 79.29 | 0.16 | 0.0 | 6.67 | 30.08 | 19.6 | 24.76 | 101.19 | 4.38 | 1.6 | 92.59 | -17.37 | -20.63 | 7.41 | 159.26 | 144.44 | 28.84 | 2.6 | -1.84 |
| 21Q3 (8) | 1.13 | 15.31 | 25.56 | 31.38 | 2.89 | 6.12 | 16.32 | 8.58 | 21.88 | 14.53 | 13.96 | 11.51 | 11.40 | 14.8 | 10.79 | 3.58 | 20.13 | 21.77 | 1.93 | 17.68 | 25.32 | 0.16 | 0.0 | 6.67 | 25.15 | 3.07 | 4.14 | 96.94 | 7.39 | 6.75 | 112.05 | -4.95 | 8.82 | -12.50 | 30.15 | -320.0 | 28.11 | -0.57 | -3.5 |
| 21Q2 (7) | 0.98 | -6.67 | 3.16 | 30.50 | 8.77 | -1.93 | 15.03 | 19.29 | 4.23 | 12.75 | 6.25 | -5.13 | 9.93 | -10.22 | -6.5 | 2.98 | -11.57 | -1.97 | 1.64 | -8.38 | 1.23 | 0.16 | 6.67 | 6.67 | 24.40 | 3.3 | 6.36 | 90.27 | -4.85 | -12.08 | 117.89 | 12.16 | 9.79 | -17.89 | -249.94 | -142.27 | 28.27 | 3.02 | -2.38 |
| 21Q1 (6) | 1.05 | 23.53 | 14.13 | 28.04 | -5.78 | -4.98 | 12.60 | -8.36 | -4.91 | 12.00 | 1.87 | -19.35 | 11.06 | 21.27 | -7.21 | 3.37 | 29.62 | 6.98 | 1.79 | 27.86 | -1.65 | 0.15 | 0.0 | 0.0 | 23.62 | -2.03 | 3.69 | 94.87 | -4.75 | 22.4 | 105.11 | -9.9 | 18.01 | -5.11 | 69.32 | -146.79 | 27.44 | -6.6 | -12.53 |
| 20Q4 (5) | 0.85 | -5.56 | -26.72 | 29.76 | 0.64 | -7.64 | 13.75 | 2.69 | -21.2 | 11.78 | -9.59 | -27.28 | 9.12 | -11.37 | -30.33 | 2.60 | -11.56 | -26.35 | 1.40 | -9.09 | -34.27 | 0.15 | 0.0 | -6.25 | 24.11 | -0.17 | -0.78 | 99.60 | 9.68 | 38.18 | 116.67 | 13.29 | 8.45 | -16.67 | -460.0 | -120.0 | 29.38 | 0.86 | 4.07 |
| 20Q3 (4) | 0.90 | -5.26 | 0.0 | 29.57 | -4.92 | 0.0 | 13.39 | -7.14 | 0.0 | 13.03 | -3.05 | 0.0 | 10.29 | -3.11 | 0.0 | 2.94 | -3.29 | 0.0 | 1.54 | -4.94 | 0.0 | 0.15 | 0.0 | 0.0 | 24.15 | 5.27 | 0.0 | 90.81 | -11.55 | 0.0 | 102.98 | -4.11 | 0.0 | -2.98 | 59.71 | 0.0 | 29.13 | 0.59 | 0.0 |
| 20Q2 (3) | 0.95 | 3.26 | 0.0 | 31.10 | 5.39 | 0.0 | 14.42 | 8.83 | 0.0 | 13.44 | -9.68 | 0.0 | 10.62 | -10.91 | 0.0 | 3.04 | -3.49 | 0.0 | 1.62 | -10.99 | 0.0 | 0.15 | 0.0 | 0.0 | 22.94 | 0.7 | 0.0 | 102.67 | 32.46 | 0.0 | 107.39 | 20.56 | 0.0 | -7.39 | -167.59 | 0.0 | 28.96 | -7.68 | 0.0 |
| 20Q1 (2) | 0.92 | -20.69 | 0.0 | 29.51 | -8.41 | 0.0 | 13.25 | -24.07 | 0.0 | 14.88 | -8.15 | 0.0 | 11.92 | -8.94 | 0.0 | 3.15 | -10.76 | 0.0 | 1.82 | -14.55 | 0.0 | 0.15 | -6.25 | 0.0 | 22.78 | -6.26 | 0.0 | 77.51 | 7.53 | 0.0 | 89.07 | -17.2 | 0.0 | 10.93 | 244.26 | 0.0 | 31.37 | 11.12 | 0.0 |
| 19Q4 (1) | 1.16 | 0.0 | 0.0 | 32.22 | 0.0 | 0.0 | 17.45 | 0.0 | 0.0 | 16.20 | 0.0 | 0.0 | 13.09 | 0.0 | 0.0 | 3.53 | 0.0 | 0.0 | 2.13 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 24.30 | 0.0 | 0.0 | 72.08 | 0.0 | 0.0 | 107.58 | 0.0 | 0.0 | -7.58 | 0.0 | 0.0 | 28.23 | 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) | 5.91 | -32.15 | 30.44 | -16.83 | 15.50 | -25.16 | 9.36 | 6.13 | 16.62 | -26.3 | 13.51 | -26.78 | 13.72 | -40.03 | 9.24 | -30.26 | 0.66 | -5.71 | 26.80 | -16.41 | 52.38 | -7.64 | 93.30 | 1.52 | 6.70 | -17.88 | 0.07 | -3.22 | 29.32 | 1.56 |
| 2022 (9) | 8.71 | 82.22 | 36.60 | 18.45 | 20.71 | 33.7 | 8.82 | -14.43 | 22.55 | 53.4 | 18.45 | 54.14 | 22.88 | 55.12 | 13.25 | 72.3 | 0.70 | 14.75 | 32.06 | 24.02 | 56.71 | -43.96 | 91.91 | -12.82 | 8.16 | 0 | 0.07 | 6.46 | 28.87 | 2.48 |
| 2021 (8) | 4.78 | 31.68 | 30.90 | 3.03 | 15.49 | 12.98 | 10.30 | 5.62 | 14.70 | 10.86 | 11.97 | 14.44 | 14.75 | 27.71 | 7.69 | 20.72 | 0.61 | 3.39 | 25.85 | 9.91 | 101.19 | 1.6 | 105.42 | 1.99 | -5.42 | 0 | 0.07 | -6.98 | 28.17 | -5.09 |
| 2020 (7) | 3.63 | -4.72 | 29.99 | 2.35 | 13.71 | -0.87 | 9.75 | 11.98 | 13.26 | -5.96 | 10.46 | -5.6 | 11.55 | -1.95 | 6.37 | -14.95 | 0.59 | -11.94 | 23.52 | 1.69 | 99.60 | 38.18 | 103.36 | 5.36 | -3.36 | 0 | 0.07 | -16.16 | 29.68 | 0.1 |
| 2019 (6) | 3.81 | -22.56 | 29.30 | -0.61 | 13.83 | -7.92 | 8.71 | 5.2 | 14.10 | -17.16 | 11.08 | -18.71 | 11.78 | -27.6 | 7.49 | -36.47 | 0.67 | -22.09 | 23.13 | -9.01 | 72.08 | 57.52 | 98.10 | 11.08 | 1.90 | -83.94 | 0.09 | -16.33 | 29.65 | 7.43 |
| 2018 (5) | 4.92 | -5.38 | 29.48 | -12.7 | 15.02 | -23.25 | 8.28 | 0.99 | 17.02 | -11.68 | 13.63 | -15.81 | 16.27 | -12.99 | 11.79 | -17.21 | 0.86 | -2.27 | 25.42 | -7.53 | 45.76 | 47.9 | 88.32 | -12.98 | 11.80 | 0 | 0.11 | 0 | 27.60 | 1.55 |
| 2017 (4) | 5.20 | 37.2 | 33.77 | 15.97 | 19.57 | 28.08 | 8.20 | -3.28 | 19.27 | 23.53 | 16.19 | 25.02 | 18.70 | 32.62 | 14.24 | 34.59 | 0.88 | 7.32 | 27.49 | 14.07 | 30.94 | -3.85 | 101.49 | 3.58 | -1.49 | 0 | 0.00 | 0 | 27.18 | -4.46 |
| 2016 (3) | 3.79 | -8.45 | 29.12 | -5.7 | 15.28 | -9.96 | 8.48 | -3.93 | 15.60 | -10.6 | 12.95 | -10.19 | 14.10 | -7.72 | 10.58 | -5.62 | 0.82 | 5.13 | 24.10 | -8.26 | 32.18 | -7.93 | 97.98 | 0.69 | 2.02 | -24.99 | 0.00 | 0 | 28.45 | -0.8 |
| 2015 (2) | 4.14 | -10.58 | 30.88 | -6.37 | 16.97 | -13.68 | 8.82 | 6.15 | 17.45 | -7.62 | 14.42 | -3.87 | 15.28 | -12.44 | 11.21 | -9.3 | 0.78 | -4.88 | 26.27 | -3.45 | 34.95 | -7.52 | 97.31 | -6.56 | 2.69 | 0 | 0.00 | 0 | 28.68 | 7.98 |
| 2014 (1) | 4.63 | 24.13 | 32.98 | 0 | 19.66 | 0 | 8.31 | -13.65 | 18.89 | 0 | 15.00 | 0 | 17.45 | 0 | 12.36 | 0 | 0.82 | 0.0 | 27.21 | 6.87 | 37.79 | -15.91 | 104.14 | -8.15 | -4.14 | 0 | 0.00 | 0 | 26.56 | -4.15 |
