- 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) | 3.90 | 46.07 | 42.86 | 29.89 | 24.49 | 77.18 | 21.07 | 49.75 | 161.41 | 20.06 | 13.27 | 33.64 | 16.05 | 18.89 | 22.71 | 3.16 | 41.7 | 36.8 | 2.55 | 46.55 | 43.26 | 0.16 | 23.08 | 23.08 | 25.74 | 1.74 | 11.62 | 21.57 | -26.21 | -16.59 | 104.88 | 31.85 | 94.95 | -4.88 | -123.85 | -110.56 | 41.84 | -15.97 | -3.71 |
| 24Q2 (19) | 2.67 | -29.18 | -2.55 | 24.01 | -0.04 | 15.6 | 14.07 | -6.26 | 10.44 | 17.71 | -17.97 | 0.85 | 13.50 | -21.83 | 5.06 | 2.23 | -28.98 | -5.91 | 1.74 | -29.55 | 1.16 | 0.13 | -7.14 | 0.0 | 25.30 | -11.66 | -0.47 | 29.23 | -2.83 | -22.84 | 79.55 | 14.26 | 9.74 | 20.45 | -32.67 | -25.66 | 49.79 | 10.82 | 1.97 |
| 24Q1 (18) | 3.77 | 77.83 | 16.72 | 24.02 | -2.83 | -7.54 | 15.01 | -8.42 | -14.18 | 21.59 | 86.28 | 21.77 | 17.27 | 82.94 | 19.93 | 3.14 | 78.41 | 15.87 | 2.47 | 73.94 | 22.89 | 0.14 | -6.67 | 0.0 | 28.64 | 53.9 | 13.65 | 30.08 | 14.07 | -27.08 | 69.62 | -50.97 | -29.32 | 30.38 | 173.7 | 1935.44 | 44.93 | 20.88 | -2.16 |
| 23Q4 (17) | 2.12 | -22.34 | -40.28 | 24.72 | 46.53 | -17.63 | 16.39 | 103.35 | -22.17 | 11.59 | -22.78 | -40.59 | 9.44 | -27.83 | -39.49 | 1.76 | -23.81 | -39.31 | 1.42 | -20.22 | -36.32 | 0.15 | 15.38 | 7.14 | 18.61 | -19.3 | -30.77 | 26.37 | 1.97 | -18.74 | 141.98 | 163.92 | 31.97 | -41.22 | -189.22 | -412.98 | 37.17 | -14.45 | -21.28 |
| 23Q3 (16) | 2.73 | -0.36 | -54.42 | 16.87 | -18.78 | -42.13 | 8.06 | -36.73 | -61.66 | 15.01 | -14.52 | -48.82 | 13.08 | 1.79 | -44.25 | 2.31 | -2.53 | -54.71 | 1.78 | 3.49 | -51.89 | 0.13 | 0.0 | -18.75 | 23.06 | -9.28 | -35.62 | 25.86 | -31.73 | -14.77 | 53.80 | -25.78 | -24.88 | 46.20 | 67.93 | 62.79 | 43.45 | -11.02 | -5.5 |
| 23Q2 (15) | 2.74 | -15.17 | -42.92 | 20.77 | -20.05 | -29.45 | 12.74 | -27.16 | -40.36 | 17.56 | -0.96 | -30.46 | 12.85 | -10.76 | -34.87 | 2.37 | -12.55 | -44.76 | 1.72 | -14.43 | -40.28 | 0.13 | -7.14 | -7.14 | 25.42 | 0.87 | -21.15 | 37.88 | -8.17 | -20.22 | 72.49 | -26.41 | -14.51 | 27.51 | 1743.39 | 77.12 | 48.83 | 6.34 | 2.65 |
| 23Q1 (14) | 3.23 | -9.01 | -45.07 | 25.98 | -13.43 | -11.45 | 17.49 | -16.95 | -21.32 | 17.73 | -9.12 | -35.64 | 14.40 | -7.69 | -34.66 | 2.71 | -6.55 | -47.48 | 2.01 | -9.87 | -42.74 | 0.14 | 0.0 | -12.5 | 25.20 | -6.25 | -25.44 | 41.25 | 27.12 | -21.85 | 98.51 | -8.44 | 22.23 | 1.49 | 118.57 | -92.31 | 45.92 | -2.75 | 7.31 |
| 22Q4 (13) | 3.55 | -40.73 | -21.11 | 30.01 | 2.95 | 2.99 | 21.06 | 0.19 | -5.56 | 19.51 | -33.48 | -5.89 | 15.60 | -33.5 | -8.67 | 2.90 | -43.14 | -25.06 | 2.23 | -39.73 | -18.01 | 0.14 | -12.5 | -12.5 | 26.88 | -24.96 | -0.37 | 32.45 | 6.95 | -26.28 | 107.59 | 50.23 | -0.04 | -8.04 | -128.31 | -5.23 | 47.22 | 2.7 | 5.99 |
| 22Q3 (12) | 5.99 | 24.79 | 6.58 | 29.15 | -0.99 | -6.33 | 21.02 | -1.59 | -15.38 | 29.33 | 16.16 | 18.03 | 23.46 | 18.91 | 18.01 | 5.10 | 18.88 | 6.25 | 3.70 | 28.47 | 6.32 | 0.16 | 14.29 | -5.88 | 35.82 | 11.1 | 17.06 | 30.34 | -36.1 | -29.93 | 71.62 | -15.53 | -28.38 | 28.38 | 82.71 | 0 | 45.98 | -3.34 | 13.08 |
| 22Q2 (11) | 4.80 | -18.37 | 14.56 | 29.44 | 0.34 | 0.41 | 21.36 | -3.91 | -0.56 | 25.25 | -8.35 | 40.67 | 19.73 | -10.48 | 25.59 | 4.29 | -16.86 | 21.19 | 2.88 | -17.95 | 9.51 | 0.14 | -12.5 | -17.65 | 32.24 | -4.62 | 34.05 | 47.48 | -10.04 | 36.71 | 84.79 | 5.21 | -29.05 | 15.53 | -19.96 | 179.65 | 47.57 | 11.17 | 11.35 |
| 22Q1 (10) | 5.88 | 30.67 | 30.67 | 29.34 | 0.69 | -0.98 | 22.23 | -0.31 | -0.85 | 27.55 | 32.9 | 27.02 | 22.04 | 29.04 | 26.96 | 5.16 | 33.33 | 30.63 | 3.51 | 29.04 | 23.16 | 0.16 | 0.0 | 0.0 | 33.80 | 25.28 | 20.28 | 52.78 | 19.9 | 41.77 | 80.59 | -25.12 | -22.16 | 19.41 | 354.14 | 710.24 | 42.79 | -3.95 | -2.48 |
| 21Q4 (9) | 4.50 | -19.93 | -1.75 | 29.14 | -6.36 | -4.14 | 22.30 | -10.23 | -2.71 | 20.73 | -16.58 | 1.22 | 17.08 | -14.08 | 2.71 | 3.87 | -19.37 | -7.86 | 2.72 | -21.84 | -6.85 | 0.16 | -5.88 | -5.88 | 26.98 | -11.83 | 1.7 | 44.02 | 1.66 | 2.4 | 107.64 | 7.64 | -3.87 | -7.64 | 0 | 36.21 | 44.55 | 9.57 | 12.81 |
| 21Q3 (8) | 5.62 | 34.13 | 135.15 | 31.12 | 6.14 | 43.94 | 24.84 | 15.64 | 69.67 | 24.85 | 38.44 | 75.49 | 19.88 | 26.54 | 76.24 | 4.80 | 35.59 | 111.45 | 3.48 | 32.32 | 132.0 | 0.17 | 0.0 | 30.77 | 30.60 | 27.23 | 39.09 | 43.30 | 24.68 | -9.72 | 100.00 | -16.32 | -3.21 | 0.00 | 100.0 | 100.0 | 40.66 | -4.82 | -9.38 |
| 21Q2 (7) | 4.19 | -6.89 | 49.11 | 29.32 | -1.05 | 14.44 | 21.48 | -4.19 | 18.15 | 17.95 | -17.24 | 14.62 | 15.71 | -9.5 | 34.97 | 3.54 | -10.38 | 41.04 | 2.63 | -7.72 | 52.91 | 0.17 | 6.25 | 13.33 | 24.05 | -14.41 | 5.95 | 34.73 | -6.72 | -42.03 | 119.50 | 15.42 | 2.74 | -19.50 | -513.23 | -19.53 | 42.72 | -2.64 | 0 |
| 21Q1 (6) | 4.50 | -1.75 | -10.18 | 29.63 | -2.53 | -3.14 | 22.42 | -2.18 | -1.92 | 21.69 | 5.91 | -8.21 | 17.36 | 4.39 | -8.15 | 3.95 | -5.95 | -7.93 | 2.85 | -2.4 | -6.25 | 0.16 | -5.88 | 0.0 | 28.10 | 5.92 | -7.6 | 37.23 | -13.4 | -5.07 | 103.53 | -7.54 | 7.27 | -3.18 | 73.44 | -200.49 | 43.88 | 11.12 | -3.07 |
| 20Q4 (5) | 4.58 | 91.63 | -25.65 | 30.40 | 40.61 | -11.21 | 22.92 | 56.56 | -16.17 | 20.48 | 44.63 | -14.49 | 16.63 | 47.43 | -15.54 | 4.20 | 85.02 | -24.19 | 2.92 | 94.67 | -21.29 | 0.17 | 30.77 | -10.53 | 26.53 | 20.59 | -11.12 | 42.99 | -10.36 | -6.6 | 111.97 | 8.38 | -2.02 | -11.97 | -261.55 | 16.2 | 39.49 | -11.99 | -0.35 |
| 20Q3 (4) | 2.39 | -14.95 | 0.0 | 21.62 | -15.61 | 0.0 | 14.64 | -19.47 | 0.0 | 14.16 | -9.58 | 0.0 | 11.28 | -3.09 | 0.0 | 2.27 | -9.56 | 0.0 | 1.50 | -12.79 | 0.0 | 0.13 | -13.33 | 0.0 | 22.00 | -3.08 | 0.0 | 47.96 | -19.95 | 0.0 | 103.31 | -11.18 | 0.0 | -3.31 | 79.71 | 0.0 | 44.87 | 0 | 0.0 |
| 20Q2 (3) | 2.81 | -43.91 | 0.0 | 25.62 | -16.25 | 0.0 | 18.18 | -20.47 | 0.0 | 15.66 | -33.73 | 0.0 | 11.64 | -38.41 | 0.0 | 2.51 | -41.49 | 0.0 | 1.72 | -43.42 | 0.0 | 0.15 | -6.25 | 0.0 | 22.70 | -25.35 | 0.0 | 59.91 | 52.75 | 0.0 | 116.32 | 20.51 | 0.0 | -16.32 | -615.58 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 5.01 | -18.67 | 0.0 | 30.59 | -10.66 | 0.0 | 22.86 | -16.39 | 0.0 | 23.63 | -1.34 | 0.0 | 18.90 | -4.01 | 0.0 | 4.29 | -22.56 | 0.0 | 3.04 | -18.06 | 0.0 | 0.16 | -15.79 | 0.0 | 30.41 | 1.88 | 0.0 | 39.22 | -14.79 | 0.0 | 96.52 | -15.55 | 0.0 | 3.16 | 122.15 | 0.0 | 45.27 | 14.23 | 0.0 |
| 19Q4 (1) | 6.16 | 0.0 | 0.0 | 34.24 | 0.0 | 0.0 | 27.34 | 0.0 | 0.0 | 23.95 | 0.0 | 0.0 | 19.69 | 0.0 | 0.0 | 5.54 | 0.0 | 0.0 | 3.71 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 29.85 | 0.0 | 0.0 | 46.03 | 0.0 | 0.0 | 114.29 | 0.0 | 0.0 | -14.29 | 0.0 | 0.0 | 39.63 | 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) | 10.83 | -46.41 | 22.20 | -24.67 | 13.79 | -35.68 | 7.01 | 10.98 | 15.45 | -39.65 | 12.43 | -38.98 | 8.80 | -47.15 | 6.90 | -43.21 | 0.55 | -6.78 | 23.01 | -28.89 | 26.37 | -18.74 | 89.25 | 6.55 | 10.75 | -33.79 | 0.05 | 114.13 | 43.78 | -4.41 |
| 2022 (9) | 20.21 | 7.5 | 29.47 | -1.21 | 21.44 | -5.92 | 6.32 | 10.78 | 25.60 | 19.85 | 20.37 | 16.07 | 16.65 | 1.9 | 12.15 | 5.74 | 0.59 | -9.23 | 32.36 | 17.8 | 32.45 | -26.28 | 83.76 | -21.48 | 16.24 | 0 | 0.02 | -30.94 | 45.80 | 6.74 |
| 2021 (8) | 18.80 | 27.2 | 29.83 | 8.79 | 22.79 | 14.01 | 5.70 | -5.47 | 21.36 | 13.62 | 17.55 | 17.94 | 16.34 | 24.92 | 11.49 | 25.16 | 0.65 | 6.56 | 27.47 | 7.05 | 44.02 | 2.4 | 106.67 | 0.28 | -6.76 | 0 | 0.03 | -6.45 | 42.91 | 1.11 |
| 2020 (7) | 14.78 | -42.11 | 27.42 | -18.17 | 19.99 | -23.09 | 6.03 | 20.38 | 18.80 | -26.1 | 14.88 | -26.63 | 13.08 | -41.21 | 9.18 | -39.41 | 0.61 | -17.57 | 25.66 | -18.15 | 42.99 | -6.6 | 106.38 | 4.12 | -6.27 | 0 | 0.04 | -21.53 | 42.44 | 2.51 |
| 2019 (6) | 25.53 | -22.8 | 33.51 | -10.38 | 25.99 | -13.63 | 5.01 | 36.52 | 25.44 | -18.83 | 20.28 | -18.82 | 22.25 | -25.29 | 15.15 | -21.79 | 0.74 | -3.9 | 31.35 | -12.23 | 46.03 | -9.14 | 102.17 | 6.39 | -2.17 | 0 | 0.05 | -16.86 | 41.40 | -0.12 |
| 2018 (5) | 33.07 | 4.92 | 37.39 | -5.7 | 30.09 | -6.76 | 3.67 | 2.85 | 31.34 | 2.35 | 24.98 | 0.89 | 29.78 | -0.96 | 19.37 | -3.34 | 0.77 | -3.75 | 35.72 | 3.0 | 50.66 | -14.94 | 96.03 | -8.88 | 4.02 | 0 | 0.06 | 0 | 41.45 | 8.76 |
| 2017 (4) | 31.52 | -10.61 | 39.65 | -7.1 | 32.27 | -7.32 | 3.57 | -11.71 | 30.62 | -8.16 | 24.76 | -10.03 | 30.07 | -17.37 | 20.04 | -21.93 | 0.80 | -13.98 | 34.68 | -8.21 | 59.56 | 42.28 | 105.39 | 0.9 | -5.39 | 0 | 0.00 | 0 | 38.11 | 3.56 |
| 2016 (3) | 35.26 | 22.09 | 42.68 | 15.63 | 34.82 | 22.48 | 4.04 | -20.26 | 33.34 | 13.75 | 27.52 | 10.74 | 36.39 | 11.59 | 25.67 | 13.63 | 0.93 | 3.33 | 37.78 | 7.94 | 41.86 | -2.33 | 104.46 | 7.72 | -4.46 | 0 | 0.00 | 0 | 36.80 | 0.96 |
| 2015 (2) | 28.88 | -7.44 | 36.91 | -14.4 | 28.43 | -14.6 | 5.07 | -10.96 | 29.31 | -14.77 | 24.85 | -14.52 | 32.61 | -14.79 | 22.59 | -10.18 | 0.90 | 4.65 | 35.00 | -14.47 | 42.86 | -10.47 | 96.97 | 0.15 | 2.97 | -6.36 | 0.00 | 0 | 36.45 | -5.0 |
| 2014 (1) | 31.20 | -1.58 | 43.12 | 0 | 33.29 | 0 | 5.69 | 27.57 | 34.39 | 0 | 29.07 | 0 | 38.27 | 0 | 25.15 | 0 | 0.86 | -6.52 | 40.92 | 1.19 | 47.87 | -19.27 | 96.83 | 0.6 | 3.17 | -16.53 | 0.00 | 0 | 38.37 | 2.4 |
