- 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) | 3.45 | -11.08 | -16.67 | 42.33 | -5.43 | -7.37 | 18.39 | -7.82 | -23.6 | 22.12 | -3.32 | -12.29 | 14.75 | -12.67 | -15.47 | 6.04 | -18.71 | -24.12 | 4.36 | -12.1 | -24.04 | 0.30 | 3.45 | -9.09 | 24.76 | -2.63 | -10.16 | 30.35 | -36.28 | -5.86 | 83.21 | -4.61 | -12.94 | 16.79 | 31.51 | 280.14 | 23.51 | 0.81 | 15.19 |
| 24Q2 (19) | 3.88 | 42.12 | 27.63 | 44.76 | 1.89 | 17.3 | 19.95 | -6.78 | 26.59 | 22.88 | 0.93 | 17.45 | 16.89 | 8.48 | 23.46 | 7.43 | 43.44 | 20.23 | 4.96 | 36.64 | 16.98 | 0.29 | 26.09 | -6.45 | 25.43 | -1.32 | 15.91 | 47.63 | -10.54 | 3.52 | 87.23 | -7.58 | 7.73 | 12.77 | 127.66 | -32.9 | 23.32 | -13.37 | 7.47 |
| 24Q1 (18) | 2.73 | 8.33 | 18.18 | 43.93 | 3.41 | 2.31 | 21.40 | 17.84 | 9.97 | 22.67 | 18.57 | 22.74 | 15.57 | 37.54 | 12.18 | 5.18 | 12.61 | 10.45 | 3.63 | 4.61 | 9.34 | 0.23 | -25.81 | -4.17 | 25.77 | 18.92 | 17.89 | 53.24 | 58.5 | 15.06 | 94.39 | -0.39 | -10.55 | 5.61 | 16.74 | 201.56 | 26.92 | 10.37 | 5.65 |
| 23Q4 (17) | 2.52 | -39.13 | 106.56 | 42.48 | -7.05 | 4.4 | 18.16 | -24.55 | 8.1 | 19.12 | -24.19 | 25.87 | 11.32 | -35.13 | 65.26 | 4.60 | -42.21 | 74.24 | 3.47 | -39.55 | 81.68 | 0.31 | -6.06 | 10.71 | 21.67 | -21.37 | 19.72 | 33.59 | 4.19 | -10.38 | 94.76 | -0.86 | -14.5 | 4.80 | 8.76 | 144.36 | 24.39 | 19.5 | 4.59 |
| 23Q3 (16) | 4.14 | 36.18 | 115.62 | 45.70 | 19.76 | 19.45 | 24.07 | 52.73 | 62.97 | 25.22 | 29.47 | 34.87 | 17.45 | 27.56 | 83.49 | 7.96 | 28.8 | 103.58 | 5.74 | 35.38 | 119.08 | 0.33 | 6.45 | 22.22 | 27.56 | 25.62 | 28.97 | 32.24 | -29.93 | -19.64 | 95.58 | 18.04 | 21.15 | 4.42 | -76.79 | -79.07 | 20.41 | -5.94 | -12.06 |
| 23Q2 (15) | 3.04 | 31.6 | 26.14 | 38.16 | -11.13 | 10.99 | 15.76 | -19.01 | 15.12 | 19.48 | 5.47 | 12.93 | 13.68 | -1.44 | 15.64 | 6.18 | 31.77 | 27.16 | 4.24 | 27.71 | 33.75 | 0.31 | 29.17 | 19.23 | 21.94 | 0.37 | 10.75 | 46.01 | -0.56 | -28.02 | 80.97 | -23.26 | 1.92 | 19.03 | 444.59 | -7.44 | 21.70 | -14.84 | -3.17 |
| 23Q1 (14) | 2.31 | 89.34 | 100.87 | 42.94 | 5.53 | 21.64 | 19.46 | 15.83 | 95.38 | 18.47 | 21.59 | 61.88 | 13.88 | 102.63 | 86.06 | 4.69 | 77.65 | 97.06 | 3.32 | 73.82 | 106.21 | 0.24 | -14.29 | 14.29 | 21.86 | 20.77 | 50.03 | 46.27 | 23.45 | -2.59 | 105.52 | -4.79 | 21.55 | -5.52 | 49.01 | -141.87 | 25.48 | 9.26 | -13.3 |
| 22Q4 (13) | 1.22 | -36.46 | -67.47 | 40.69 | 6.35 | 13.88 | 16.80 | 13.74 | 4.8 | 15.19 | -18.77 | -5.0 | 6.85 | -27.97 | -56.86 | 2.64 | -32.48 | -67.45 | 1.91 | -27.1 | -63.83 | 0.28 | 3.7 | -15.15 | 18.10 | -15.3 | -0.93 | 37.48 | -6.58 | -29.71 | 110.83 | 40.48 | 10.83 | -10.83 | -151.3 | 0 | 23.32 | 0.47 | 6.58 |
| 22Q3 (12) | 1.92 | -20.33 | -24.71 | 38.26 | 11.29 | 7.17 | 14.77 | 7.89 | -12.29 | 18.70 | 8.41 | 11.84 | 9.51 | -19.61 | -10.11 | 3.91 | -19.55 | -29.8 | 2.62 | -17.35 | -31.05 | 0.27 | 3.85 | -25.0 | 21.37 | 7.87 | 15.76 | 40.12 | -37.23 | -27.82 | 78.89 | -0.69 | -21.49 | 21.11 | 2.68 | 4447.74 | 23.21 | 3.57 | 10.1 |
| 22Q2 (11) | 2.41 | 109.57 | 0.84 | 34.38 | -2.61 | -10.28 | 13.69 | 37.45 | -19.19 | 17.25 | 51.18 | 0.52 | 11.83 | 58.58 | 3.77 | 4.86 | 104.2 | -4.71 | 3.17 | 96.89 | -13.15 | 0.26 | 23.81 | -18.75 | 19.81 | 35.96 | 3.55 | 63.92 | 34.57 | 60.04 | 79.44 | -8.49 | -19.25 | 20.56 | 55.88 | 1811.67 | 22.41 | -23.75 | -0.66 |
| 22Q1 (10) | 1.15 | -69.33 | -21.77 | 35.30 | -1.2 | -8.07 | 9.96 | -37.87 | -29.01 | 11.41 | -28.64 | -25.03 | 7.46 | -53.02 | -23.25 | 2.38 | -70.65 | -27.22 | 1.61 | -69.51 | -29.39 | 0.21 | -36.36 | -8.7 | 14.57 | -20.25 | -18.51 | 47.50 | -10.92 | 16.65 | 86.81 | -13.19 | -5.37 | 13.19 | 0 | 77.29 | 29.39 | 34.32 | 7.89 |
| 21Q4 (9) | 3.75 | 47.06 | 45.91 | 35.73 | 0.08 | -11.67 | 16.03 | -4.81 | -12.12 | 15.99 | -4.37 | -11.75 | 15.88 | 50.09 | 21.97 | 8.11 | 45.6 | 36.99 | 5.28 | 38.95 | 29.73 | 0.33 | -8.33 | 6.45 | 18.27 | -1.03 | -9.78 | 53.32 | -4.07 | 11.55 | 100.00 | -0.48 | -0.54 | 0.00 | 100.0 | 100.0 | 21.88 | 3.8 | -5.77 |
| 21Q3 (8) | 2.55 | 6.69 | 8.05 | 35.70 | -6.84 | -15.88 | 16.84 | -0.59 | -8.13 | 16.72 | -2.56 | -4.46 | 10.58 | -7.19 | -14.33 | 5.57 | 9.22 | -5.43 | 3.80 | 4.11 | -4.28 | 0.36 | 12.5 | 12.5 | 18.46 | -3.5 | -6.39 | 55.58 | 39.16 | 24.7 | 100.49 | 2.13 | -3.91 | -0.49 | -145.15 | 89.38 | 21.08 | -6.56 | -6.73 |
| 21Q2 (7) | 2.39 | 62.59 | 91.2 | 38.32 | -0.21 | 0.71 | 16.94 | 20.74 | 60.72 | 17.16 | 12.75 | 47.42 | 11.40 | 17.28 | 37.52 | 5.10 | 55.96 | 66.12 | 3.65 | 60.09 | 69.77 | 0.32 | 39.13 | 23.08 | 19.13 | 6.99 | 32.57 | 39.94 | -1.92 | -27.51 | 98.39 | 7.25 | 9.06 | 1.08 | -85.54 | -89.01 | 22.56 | -17.18 | 0 |
| 21Q1 (6) | 1.47 | -42.8 | 140.98 | 38.40 | -5.07 | -6.84 | 14.03 | -23.08 | 90.88 | 15.22 | -16.0 | 82.93 | 9.72 | -25.35 | 51.17 | 3.27 | -44.76 | 133.57 | 2.28 | -43.98 | 121.36 | 0.23 | -25.81 | 53.33 | 17.88 | -11.7 | 38.82 | 40.72 | -14.81 | 13.49 | 91.74 | -8.76 | 4.48 | 7.44 | 1476.03 | -39.01 | 27.24 | 17.31 | -23.95 |
| 20Q4 (5) | 2.57 | 8.9 | -13.76 | 40.45 | -4.69 | -0.91 | 18.24 | -0.49 | 6.29 | 18.12 | 3.54 | 6.65 | 13.02 | 5.43 | -3.41 | 5.92 | 0.51 | -15.31 | 4.07 | 2.52 | -15.56 | 0.31 | -3.13 | -11.43 | 20.25 | 2.69 | 6.75 | 47.80 | 7.25 | 0.23 | 100.54 | -3.85 | 0.02 | -0.54 | 88.18 | 48.11 | 23.22 | 2.74 | -0.81 |
| 20Q3 (4) | 2.36 | 88.8 | 0.0 | 42.44 | 11.54 | 0.0 | 18.33 | 73.91 | 0.0 | 17.50 | 50.34 | 0.0 | 12.35 | 48.97 | 0.0 | 5.89 | 91.86 | 0.0 | 3.97 | 84.65 | 0.0 | 0.32 | 23.08 | 0.0 | 19.72 | 36.66 | 0.0 | 44.57 | -19.11 | 0.0 | 104.57 | 15.91 | 0.0 | -4.57 | -146.73 | 0.0 | 22.60 | 0 | 0.0 |
| 20Q2 (3) | 1.25 | 104.92 | 0.0 | 38.05 | -7.69 | 0.0 | 10.54 | 43.4 | 0.0 | 11.64 | 39.9 | 0.0 | 8.29 | 28.93 | 0.0 | 3.07 | 119.29 | 0.0 | 2.15 | 108.74 | 0.0 | 0.26 | 73.33 | 0.0 | 14.43 | 12.03 | 0.0 | 55.10 | 53.57 | 0.0 | 90.22 | 2.75 | 0.0 | 9.78 | -19.78 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.61 | -79.53 | 0.0 | 41.22 | 0.98 | 0.0 | 7.35 | -57.17 | 0.0 | 8.32 | -51.03 | 0.0 | 6.43 | -52.3 | 0.0 | 1.40 | -79.97 | 0.0 | 1.03 | -78.63 | 0.0 | 0.15 | -57.14 | 0.0 | 12.88 | -32.1 | 0.0 | 35.88 | -24.76 | 0.0 | 87.80 | -12.65 | 0.0 | 12.20 | 1270.73 | 0.0 | 35.82 | 53.01 | 0.0 |
| 19Q4 (1) | 2.98 | 0.0 | 0.0 | 40.82 | 0.0 | 0.0 | 17.16 | 0.0 | 0.0 | 16.99 | 0.0 | 0.0 | 13.48 | 0.0 | 0.0 | 6.99 | 0.0 | 0.0 | 4.82 | 0.0 | 0.0 | 0.35 | 0.0 | 0.0 | 18.97 | 0.0 | 0.0 | 47.69 | 0.0 | 0.0 | 100.52 | 0.0 | 0.0 | -1.04 | 0.0 | 0.0 | 23.41 | 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) | 12.01 | 79.25 | 42.36 | 13.66 | 19.45 | 38.53 | 2.53 | -4.08 | 20.79 | 30.59 | 14.15 | 57.05 | 22.38 | 61.94 | 16.56 | 71.43 | 1.17 | 10.38 | 23.41 | 25.05 | 33.59 | -10.38 | 93.58 | 6.11 | 6.42 | -45.63 | 0.20 | 24.59 | 22.80 | -6.1 |
| 2022 (9) | 6.70 | -34.06 | 37.27 | 1.08 | 14.04 | -12.9 | 2.64 | 33.48 | 15.92 | -2.63 | 9.01 | -25.54 | 13.82 | -36.72 | 9.66 | -33.74 | 1.06 | -11.67 | 18.72 | 1.52 | 37.48 | -29.71 | 88.20 | -10.53 | 11.80 | 728.52 | 0.16 | -0.08 | 24.28 | 6.44 |
| 2021 (8) | 10.16 | 49.63 | 36.87 | -9.16 | 16.12 | 8.85 | 1.98 | -19.37 | 16.35 | 9.51 | 12.10 | 12.98 | 21.84 | 41.09 | 14.58 | 37.55 | 1.20 | 22.45 | 18.44 | 4.71 | 53.32 | 11.55 | 98.58 | -0.62 | 1.42 | 75.57 | 0.16 | -20.53 | 22.81 | -10.44 |
| 2020 (7) | 6.79 | -32.24 | 40.59 | -0.88 | 14.81 | -6.86 | 2.45 | 48.16 | 14.93 | -9.57 | 10.71 | -13.49 | 15.48 | -34.63 | 10.60 | -33.58 | 0.98 | -22.83 | 17.61 | -4.14 | 47.80 | 0.23 | 99.19 | 3.08 | 0.81 | -77.67 | 0.20 | 34.07 | 25.47 | 3.45 |
| 2019 (6) | 10.02 | 6.26 | 40.95 | 2.76 | 15.90 | 4.33 | 1.66 | 9.9 | 16.51 | 3.32 | 12.38 | 10.04 | 23.68 | 1.59 | 15.96 | 5.98 | 1.27 | -3.79 | 18.37 | 3.67 | 47.69 | -9.27 | 96.22 | 0.91 | 3.63 | -21.76 | 0.15 | -18.41 | 24.62 | 0.2 |
| 2018 (5) | 9.43 | -14.35 | 39.85 | -3.11 | 15.24 | -15.1 | 1.51 | 15.92 | 15.98 | -6.71 | 11.25 | -5.14 | 23.31 | -15.21 | 15.06 | -12.49 | 1.32 | -8.33 | 17.72 | -4.83 | 52.56 | -14.73 | 95.36 | -9.02 | 4.64 | 0 | 0.19 | 0 | 24.57 | 5.41 |
| 2017 (4) | 11.01 | -2.31 | 41.13 | -2.37 | 17.95 | -0.77 | 1.30 | -9.85 | 17.13 | -6.9 | 11.86 | -9.05 | 27.49 | -6.91 | 17.21 | -7.77 | 1.44 | 1.41 | 18.62 | -6.85 | 61.64 | 1.02 | 104.81 | 6.7 | -4.81 | 0 | 0.00 | 0 | 23.31 | -0.64 |
| 2016 (3) | 11.27 | 15.95 | 42.13 | 5.27 | 18.09 | 10.17 | 1.44 | 2.2 | 18.40 | 11.11 | 13.04 | 10.04 | 29.53 | 11.18 | 18.66 | 17.8 | 1.42 | 8.4 | 19.99 | 9.35 | 61.02 | 5.92 | 98.23 | -1.04 | 1.64 | 86.26 | 0.00 | 0 | 23.46 | 2.31 |
| 2015 (2) | 9.72 | -12.67 | 40.02 | 0.45 | 16.42 | -4.09 | 1.41 | 8.51 | 16.56 | -5.21 | 11.85 | -6.4 | 26.56 | -17.75 | 15.84 | -10.61 | 1.31 | -5.07 | 18.28 | -3.89 | 57.61 | -31.41 | 99.26 | 1.29 | 0.88 | -55.76 | 0.00 | 0 | 22.93 | 5.14 |
| 2014 (1) | 11.13 | 0.72 | 39.84 | 0 | 17.12 | 0 | 1.30 | -4.85 | 17.47 | 0 | 12.66 | 0 | 32.29 | 0 | 17.72 | 0 | 1.38 | -6.12 | 19.02 | 3.2 | 83.99 | -1.57 | 98.01 | -0.35 | 1.99 | 20.59 | 0.00 | 0 | 21.81 | 6.86 |
