- 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) | 8.66 | -23.43 | -10.72 | 46.33 | -2.11 | -0.09 | 28.04 | -10.76 | -4.4 | 29.52 | -13.35 | -9.78 | 23.47 | -12.52 | -8.46 | 3.82 | -27.51 | -21.07 | 3.05 | -23.17 | -11.85 | 0.13 | -13.33 | 0.0 | 38.71 | -7.81 | -6.52 | 24.55 | -15.14 | -40.05 | 94.95 | 2.95 | 5.91 | 5.05 | -35.3 | -51.19 | 23.87 | 10.05 | 8.25 |
| 24Q2 (19) | 11.31 | 23.61 | 32.75 | 47.33 | 0.45 | 3.77 | 31.42 | 4.7 | 3.56 | 34.07 | 5.48 | 26.42 | 26.83 | 5.67 | 25.96 | 5.27 | 21.43 | 18.43 | 3.97 | 23.68 | 26.43 | 0.15 | 25.0 | 7.14 | 41.99 | 1.06 | 20.01 | 28.93 | -27.69 | -35.22 | 92.23 | -0.73 | -18.1 | 7.80 | 10.03 | 162.07 | 21.69 | -7.82 | 4.73 |
| 24Q1 (18) | 9.15 | 7.65 | 12.82 | 47.12 | 0.13 | 3.77 | 30.01 | 2.35 | 1.28 | 32.30 | 9.05 | 6.88 | 25.39 | 9.91 | 8.04 | 4.34 | 7.43 | 2.84 | 3.21 | 7.72 | 5.94 | 0.12 | -7.69 | -7.69 | 41.55 | 7.28 | 5.62 | 40.01 | 10.28 | -9.72 | 92.91 | -6.1 | -5.23 | 7.09 | 602.3 | 260.93 | 23.53 | -0.04 | -0.88 |
| 23Q4 (17) | 8.50 | -12.37 | 26.68 | 47.06 | 1.49 | 1.49 | 29.32 | -0.03 | 0.03 | 29.62 | -9.47 | 5.52 | 23.10 | -9.91 | 7.84 | 4.04 | -16.53 | 15.76 | 2.98 | -13.87 | 15.95 | 0.13 | 0.0 | 8.33 | 38.73 | -6.47 | 2.24 | 36.28 | -11.4 | -9.84 | 98.94 | 10.36 | -5.21 | 1.01 | -90.24 | 122.77 | 23.54 | 6.76 | -2.93 |
| 23Q3 (16) | 9.70 | 13.85 | 39.37 | 46.37 | 1.67 | 0.13 | 29.33 | -3.33 | 4.68 | 32.72 | 21.41 | 10.32 | 25.64 | 20.38 | 12.01 | 4.84 | 8.76 | 29.41 | 3.46 | 10.19 | 27.21 | 0.13 | -7.14 | 8.33 | 41.41 | 18.35 | 5.29 | 40.95 | -8.31 | 8.39 | 89.66 | -20.39 | -5.13 | 10.34 | 182.29 | 88.27 | 22.05 | 6.47 | -14.27 |
| 23Q2 (15) | 8.52 | 5.06 | 6.37 | 45.61 | 0.44 | -2.15 | 30.34 | 2.4 | -0.03 | 26.95 | -10.82 | -6.06 | 21.30 | -9.36 | -3.97 | 4.45 | 5.45 | -0.45 | 3.14 | 3.63 | -3.68 | 0.14 | 7.69 | 0.0 | 34.99 | -11.06 | -4.4 | 44.66 | 0.77 | 4.93 | 112.62 | 14.87 | 6.45 | -12.57 | -739.82 | -117.03 | 20.71 | -12.76 | -12.13 |
| 23Q1 (14) | 8.11 | 20.86 | -3.34 | 45.41 | -2.07 | 5.26 | 29.63 | 1.09 | 6.51 | 30.22 | 7.66 | -10.22 | 23.50 | 9.71 | -8.84 | 4.22 | 20.92 | -11.53 | 3.03 | 17.9 | -15.13 | 0.13 | 8.33 | -7.14 | 39.34 | 3.85 | -6.04 | 44.32 | 10.14 | 23.04 | 98.04 | -6.08 | 18.61 | 1.96 | 144.3 | -88.67 | 23.74 | -2.1 | -3.18 |
| 22Q4 (13) | 6.71 | -3.59 | -20.02 | 46.37 | 0.13 | -1.86 | 29.31 | 4.6 | -6.15 | 28.07 | -5.36 | -21.57 | 21.42 | -6.42 | -23.06 | 3.49 | -6.68 | -34.15 | 2.57 | -5.51 | -26.36 | 0.12 | 0.0 | 0.0 | 37.88 | -3.69 | -14.78 | 40.24 | 6.51 | 12.91 | 104.38 | 10.45 | 19.62 | -4.43 | -180.71 | -134.67 | 24.25 | -5.72 | -9.18 |
| 22Q3 (12) | 6.96 | -13.11 | -17.83 | 46.31 | -0.64 | -5.89 | 28.02 | -7.68 | -7.98 | 29.66 | 3.38 | -5.03 | 22.89 | 3.2 | -4.7 | 3.74 | -16.33 | -42.64 | 2.72 | -16.56 | -25.48 | 0.12 | -14.29 | -20.0 | 39.33 | 7.46 | 1.89 | 37.78 | -11.23 | -53.69 | 94.51 | -10.67 | -3.07 | 5.49 | 194.86 | 119.86 | 25.72 | 9.12 | -3.05 |
| 22Q2 (11) | 8.01 | -4.53 | -15.33 | 46.61 | 8.04 | -5.11 | 30.35 | 9.09 | -11.46 | 28.69 | -14.77 | -13.19 | 22.18 | -13.96 | -12.71 | 4.47 | -6.29 | -42.91 | 3.26 | -8.68 | -22.75 | 0.14 | 0.0 | -12.5 | 36.60 | -12.59 | -7.85 | 42.56 | 18.16 | -50.25 | 105.79 | 27.99 | 1.98 | -5.79 | -133.39 | -54.77 | 23.57 | -3.87 | 14.36 |
| 22Q1 (10) | 8.39 | 0.0 | 9.53 | 43.14 | -8.7 | -11.0 | 27.82 | -10.92 | -16.38 | 33.66 | -5.95 | 4.37 | 25.78 | -7.4 | 5.7 | 4.77 | -10.0 | -26.62 | 3.57 | 2.29 | 1.13 | 0.14 | 16.67 | 0.0 | 41.87 | -5.8 | 4.7 | 36.02 | 1.07 | -61.46 | 82.66 | -5.27 | -19.86 | 17.34 | 35.6 | 644.19 | 24.52 | -8.16 | 10.85 |
| 21Q4 (9) | 8.39 | -0.94 | 0.24 | 47.25 | -3.98 | -6.06 | 31.23 | 2.56 | -2.65 | 35.79 | 14.6 | -5.82 | 27.84 | 15.9 | -5.14 | 5.30 | -18.71 | -28.18 | 3.49 | -4.38 | -12.75 | 0.12 | -20.0 | -7.69 | 44.45 | 15.16 | -4.1 | 35.64 | -56.31 | -57.68 | 87.26 | -10.51 | 3.36 | 12.79 | 411.87 | -17.88 | 26.70 | 0.64 | 12.9 |
| 21Q3 (8) | 8.47 | -10.47 | 3.8 | 49.21 | 0.18 | -3.17 | 30.45 | -11.17 | -6.8 | 31.23 | -5.51 | -17.29 | 24.02 | -5.47 | -18.63 | 6.52 | -16.73 | -17.68 | 3.65 | -13.51 | -7.59 | 0.15 | -6.25 | 15.38 | 38.60 | -2.82 | -16.63 | 81.58 | -4.64 | -12.99 | 97.50 | -6.02 | 12.65 | 2.50 | 166.78 | -81.48 | 26.53 | 28.72 | 15.25 |
| 21Q2 (7) | 9.46 | 23.5 | 35.72 | 49.12 | 1.34 | -3.48 | 34.28 | 3.04 | -0.41 | 33.05 | 2.48 | 0.89 | 25.41 | 4.18 | 2.96 | 7.83 | 20.46 | 9.66 | 4.22 | 19.55 | 24.48 | 0.16 | 14.29 | 23.08 | 39.72 | -0.68 | -3.57 | 85.55 | -8.46 | -29.06 | 103.74 | 0.59 | -1.28 | -3.74 | -17.41 | 26.51 | 20.61 | -6.83 | 0 |
| 21Q1 (6) | 7.66 | -8.48 | 257.94 | 48.47 | -3.64 | 11.43 | 33.27 | 3.71 | 51.64 | 32.25 | -15.13 | 76.91 | 24.39 | -16.9 | 90.4 | 6.50 | -11.92 | 194.12 | 3.53 | -11.75 | 199.15 | 0.14 | 7.69 | 75.0 | 39.99 | -13.72 | 21.51 | 93.46 | 10.98 | -20.95 | 103.13 | 22.16 | -14.43 | -3.19 | -120.46 | 84.34 | 22.12 | -6.47 | -13.56 |
| 20Q4 (5) | 8.37 | 2.57 | 90.66 | 50.30 | -1.02 | 5.87 | 32.08 | -1.81 | 22.49 | 38.00 | 0.64 | 42.48 | 29.35 | -0.58 | 44.87 | 7.38 | -6.82 | 58.71 | 4.00 | 1.27 | 76.99 | 0.13 | 0.0 | 30.0 | 46.35 | 0.11 | 23.27 | 84.21 | -10.19 | -29.62 | 84.42 | -2.46 | -14.08 | 15.58 | 15.42 | 749.68 | 23.65 | 2.74 | -2.35 |
| 20Q3 (4) | 8.16 | 17.07 | 0.0 | 50.82 | -0.14 | 0.0 | 32.67 | -5.08 | 0.0 | 37.76 | 15.26 | 0.0 | 29.52 | 19.61 | 0.0 | 7.92 | 10.92 | 0.0 | 3.95 | 16.52 | 0.0 | 0.13 | 0.0 | 0.0 | 46.30 | 12.41 | 0.0 | 93.76 | -22.26 | 0.0 | 86.56 | -17.64 | 0.0 | 13.50 | 365.06 | 0.0 | 23.02 | 0 | 0.0 |
| 20Q2 (3) | 6.97 | 225.7 | 0.0 | 50.89 | 16.99 | 0.0 | 34.42 | 56.88 | 0.0 | 32.76 | 79.7 | 0.0 | 24.68 | 92.66 | 0.0 | 7.14 | 223.08 | 0.0 | 3.39 | 187.29 | 0.0 | 0.13 | 62.5 | 0.0 | 41.19 | 25.16 | 0.0 | 120.60 | 2.0 | 0.0 | 105.09 | -12.8 | 0.0 | -5.09 | 74.98 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 2.14 | -51.25 | 0.0 | 43.50 | -8.44 | 0.0 | 21.94 | -16.23 | 0.0 | 18.23 | -31.65 | 0.0 | 12.81 | -36.77 | 0.0 | 2.21 | -52.47 | 0.0 | 1.18 | -47.79 | 0.0 | 0.08 | -20.0 | 0.0 | 32.91 | -12.47 | 0.0 | 118.23 | -1.19 | 0.0 | 120.52 | 22.66 | 0.0 | -20.35 | -1209.97 | 0.0 | 25.59 | 5.66 | 0.0 |
| 19Q4 (1) | 4.39 | 0.0 | 0.0 | 47.51 | 0.0 | 0.0 | 26.19 | 0.0 | 0.0 | 26.67 | 0.0 | 0.0 | 20.26 | 0.0 | 0.0 | 4.65 | 0.0 | 0.0 | 2.26 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 37.60 | 0.0 | 0.0 | 119.65 | 0.0 | 0.0 | 98.26 | 0.0 | 0.0 | 1.83 | 0.0 | 0.0 | 24.22 | 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) | 34.83 | 15.83 | 46.12 | 1.12 | 29.67 | 2.56 | 8.04 | -2.23 | 29.83 | -0.6 | 23.35 | 1.26 | 17.09 | 5.3 | 12.63 | 5.34 | 0.53 | 3.92 | 38.55 | -0.8 | 36.28 | -9.84 | 99.46 | 3.17 | 0.54 | -84.98 | 0.06 | -19.71 | 22.45 | -8.26 |
| 2022 (9) | 30.07 | -10.69 | 45.61 | -6.09 | 28.93 | -10.57 | 8.22 | 22.09 | 30.01 | -9.09 | 23.06 | -9.07 | 16.23 | -27.38 | 11.99 | -18.99 | 0.51 | -10.53 | 38.86 | -4.19 | 40.24 | 12.91 | 96.41 | -1.62 | 3.59 | 79.23 | 0.08 | -31.15 | 24.47 | 2.38 |
| 2021 (8) | 33.67 | 31.37 | 48.57 | -1.86 | 32.35 | 3.62 | 6.73 | -16.0 | 33.01 | -0.57 | 25.36 | 0.0 | 22.35 | -6.17 | 14.80 | 19.16 | 0.57 | 21.28 | 40.56 | -4.94 | 35.64 | -57.68 | 98.00 | 4.22 | 2.00 | -66.38 | 0.11 | -24.69 | 23.90 | 2.71 |
| 2020 (7) | 25.63 | 77.74 | 49.49 | 5.95 | 31.22 | 23.2 | 8.01 | -6.94 | 33.20 | 42.55 | 25.36 | 47.87 | 23.82 | 54.17 | 12.42 | 56.82 | 0.47 | 11.9 | 42.67 | 25.76 | 84.21 | -29.62 | 94.02 | -13.58 | 5.96 | 0 | 0.14 | -3.56 | 23.27 | -6.62 |
| 2019 (6) | 14.42 | -3.99 | 46.71 | -3.27 | 25.34 | -4.95 | 8.61 | 24.64 | 23.29 | -4.59 | 17.15 | -5.77 | 15.45 | -10.02 | 7.92 | -16.1 | 0.42 | -14.29 | 33.93 | 3.26 | 119.65 | 14.14 | 108.81 | -0.4 | -8.81 | 0 | 0.15 | -31.66 | 24.92 | -3.75 |
| 2018 (5) | 15.02 | -16.88 | 48.29 | -7.06 | 26.66 | -11.69 | 6.91 | 15.74 | 24.41 | -23.14 | 18.20 | -24.32 | 17.17 | -30.49 | 9.44 | -28.81 | 0.49 | -7.55 | 32.86 | -15.89 | 104.83 | 29.28 | 109.24 | 14.94 | -9.24 | 0 | 0.22 | 0 | 25.89 | -5.3 |
| 2017 (4) | 18.07 | 68.56 | 51.96 | 1.54 | 30.19 | 17.88 | 5.97 | -15.56 | 31.76 | 18.46 | 24.05 | 25.98 | 24.70 | 28.85 | 13.26 | 37.27 | 0.53 | 10.42 | 39.07 | 10.49 | 81.09 | -28.59 | 95.04 | -0.48 | 4.96 | 10.31 | 0.00 | 0 | 27.34 | 0.51 |
| 2016 (3) | 10.72 | 40.31 | 51.17 | -0.79 | 25.61 | 8.7 | 7.07 | -1.43 | 26.81 | 28.22 | 19.09 | 22.14 | 19.17 | 42.63 | 9.66 | 34.73 | 0.48 | 9.09 | 35.36 | 20.81 | 113.56 | 7.0 | 95.51 | -15.23 | 4.49 | 0 | 0.00 | 0 | 27.20 | -1.98 |
| 2015 (2) | 7.64 | -26.47 | 51.58 | -6.12 | 23.56 | -17.36 | 7.17 | 11.3 | 20.91 | -26.66 | 15.63 | -26.69 | 13.44 | -28.13 | 7.17 | -34.94 | 0.44 | -12.0 | 29.27 | -18.49 | 106.13 | 20.22 | 112.66 | 12.66 | -12.66 | 0 | 0.00 | 0 | 27.75 | 9.55 |
| 2014 (1) | 10.39 | -1.52 | 54.94 | 0 | 28.51 | 0 | 6.44 | 11.22 | 28.51 | 0 | 21.32 | 0 | 18.70 | 0 | 11.02 | 0 | 0.50 | -15.25 | 35.91 | -8.02 | 88.28 | 45.87 | 100.00 | 7.84 | 0.00 | 0 | 0.00 | 0 | 25.33 | 7.56 |
