- 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) | 2.81 | 27.15 | 13.31 | 78.13 | -0.43 | -0.9 | 25.78 | 28.9 | 3.7 | 26.80 | 25.12 | 0.34 | 21.54 | 22.18 | 0.37 | 5.57 | 31.37 | 8.37 | 4.24 | 33.33 | 13.98 | 0.20 | 11.11 | 17.65 | 31.39 | 20.92 | 0.48 | 24.93 | -35.06 | -12.65 | 96.14 | 2.93 | 3.27 | 3.86 | -41.49 | -44.06 | 7.92 | -38.7 | -7.69 |
| 24Q2 (19) | 2.21 | 27.01 | -3.07 | 78.47 | 4.85 | -4.56 | 20.00 | 7.58 | -5.17 | 21.42 | 3.63 | -5.89 | 17.63 | 6.46 | -2.92 | 4.24 | 28.88 | -4.07 | 3.18 | 27.2 | 0.0 | 0.18 | 20.0 | 0.0 | 25.96 | 0.43 | -3.92 | 38.39 | 30.09 | -21.11 | 93.40 | 3.9 | 0.71 | 6.60 | -34.68 | -9.11 | 12.92 | -8.95 | -4.37 |
| 24Q1 (18) | 1.74 | -44.94 | -7.94 | 74.84 | -6.19 | -6.72 | 18.59 | -27.64 | -13.7 | 20.67 | -23.27 | -10.13 | 16.56 | -24.21 | -10.49 | 3.29 | -46.85 | -9.12 | 2.50 | -47.15 | -8.42 | 0.15 | -31.82 | 0.0 | 25.85 | -15.69 | -8.04 | 29.51 | -11.59 | -3.28 | 89.90 | -5.73 | -3.9 | 10.10 | 117.72 | 61.33 | 14.19 | 27.84 | -4.12 |
| 23Q4 (17) | 3.16 | 27.42 | -0.63 | 79.78 | 1.19 | -3.06 | 25.69 | 3.34 | -2.43 | 26.94 | 0.86 | -2.85 | 21.85 | 1.82 | -1.93 | 6.19 | 20.43 | -4.03 | 4.73 | 27.15 | -2.47 | 0.22 | 29.41 | 0.0 | 30.66 | -1.86 | -2.36 | 33.38 | 16.96 | -4.93 | 95.36 | 2.43 | 0.34 | 4.64 | -32.76 | -8.67 | 11.10 | 29.37 | 16.6 |
| 23Q3 (16) | 2.48 | 8.77 | 0.81 | 78.84 | -4.11 | -1.33 | 24.86 | 17.88 | -3.04 | 26.71 | 17.36 | -0.96 | 21.46 | 18.17 | -1.47 | 5.14 | 16.29 | -3.56 | 3.72 | 16.98 | -3.38 | 0.17 | -5.56 | -5.56 | 31.24 | 15.62 | -1.08 | 28.54 | -41.35 | -8.02 | 93.10 | 0.39 | -2.09 | 6.90 | -4.95 | 40.54 | 8.58 | -36.49 | -22.42 |
| 23Q2 (15) | 2.28 | 20.63 | -12.31 | 82.22 | 2.48 | -2.04 | 21.09 | -2.09 | -14.09 | 22.76 | -1.04 | -11.68 | 18.16 | -1.84 | -13.15 | 4.42 | 22.1 | -19.49 | 3.18 | 16.48 | -20.3 | 0.18 | 20.0 | -5.26 | 27.02 | -3.88 | -9.63 | 48.66 | 59.49 | 3.66 | 92.74 | -0.86 | -2.54 | 7.26 | 15.94 | 54.46 | 13.51 | -8.72 | 6.46 |
| 23Q1 (14) | 1.89 | -40.57 | 18.87 | 80.23 | -2.52 | 0.74 | 21.54 | -18.19 | 4.82 | 23.00 | -17.06 | 5.41 | 18.50 | -16.97 | 5.05 | 3.62 | -43.88 | 6.47 | 2.73 | -43.71 | 5.81 | 0.15 | -31.82 | 0.0 | 28.11 | -10.48 | 3.23 | 30.51 | -13.1 | 3.88 | 93.54 | -1.57 | -0.69 | 6.26 | 23.25 | 7.9 | 14.80 | 55.46 | 2.35 |
| 22Q4 (13) | 3.18 | 29.27 | 6.71 | 82.30 | 3.0 | 1.25 | 26.33 | 2.69 | 0.11 | 27.73 | 2.82 | 0.91 | 22.28 | 2.3 | 0.63 | 6.45 | 21.01 | 0.78 | 4.85 | 25.97 | 1.25 | 0.22 | 22.22 | 0.0 | 31.40 | -0.57 | 0.61 | 35.11 | 13.15 | 0.83 | 95.03 | -0.06 | -0.76 | 5.08 | 3.46 | 19.85 | 9.52 | -13.92 | -1.14 |
| 22Q3 (12) | 2.46 | -5.38 | 20.59 | 79.90 | -4.8 | -0.68 | 25.64 | 4.44 | 6.61 | 26.97 | 4.66 | 7.02 | 21.78 | 4.16 | 8.95 | 5.33 | -2.91 | 11.04 | 3.85 | -3.51 | 6.06 | 0.18 | -5.26 | 0.0 | 31.58 | 5.62 | 6.47 | 31.03 | -33.89 | -3.96 | 95.09 | -0.07 | -0.3 | 4.91 | 4.46 | 6.28 | 11.06 | -12.84 | 6.76 |
| 22Q2 (11) | 2.60 | 63.52 | 18.18 | 83.93 | 5.39 | 6.75 | 24.55 | 19.46 | 11.34 | 25.77 | 18.1 | 13.67 | 20.91 | 18.74 | 11.16 | 5.49 | 61.47 | 19.87 | 3.99 | 54.65 | 14.0 | 0.19 | 26.67 | 0.0 | 29.90 | 9.81 | 10.91 | 46.94 | 59.82 | 45.01 | 95.16 | 1.02 | -2.09 | 4.70 | -19.0 | 66.88 | 12.69 | -12.24 | -0.08 |
| 22Q1 (10) | 1.59 | -46.64 | -0.63 | 79.64 | -2.02 | -0.7 | 20.55 | -21.86 | -2.05 | 21.82 | -20.6 | -2.06 | 17.61 | -20.46 | -0.84 | 3.40 | -46.88 | -11.23 | 2.58 | -46.14 | -2.64 | 0.15 | -31.82 | 0.0 | 27.23 | -12.75 | -1.84 | 29.37 | -15.65 | -1.77 | 94.20 | -1.63 | -0.12 | 5.80 | 36.9 | -2.01 | 14.46 | 50.16 | -0.82 |
| 21Q4 (9) | 2.98 | 46.08 | -3.56 | 81.28 | 1.03 | -1.49 | 26.30 | 9.36 | -5.6 | 27.48 | 9.05 | -3.71 | 22.14 | 10.76 | -2.6 | 6.40 | 33.33 | -21.38 | 4.79 | 31.96 | -4.01 | 0.22 | 22.22 | 0.0 | 31.21 | 5.23 | -4.03 | 34.82 | 7.77 | -45.8 | 95.76 | 0.4 | -1.86 | 4.24 | -8.25 | 84.41 | 9.63 | -7.05 | 5.36 |
| 21Q3 (8) | 2.04 | -7.27 | -8.52 | 80.45 | 2.33 | -1.88 | 24.05 | 9.07 | -7.29 | 25.20 | 11.16 | -5.94 | 19.99 | 6.27 | -6.33 | 4.80 | 4.8 | -26.72 | 3.63 | 3.71 | -7.4 | 0.18 | -5.26 | 0.0 | 29.66 | 10.01 | -6.52 | 32.31 | -0.19 | -49.15 | 95.38 | -1.86 | -1.4 | 4.62 | 64.03 | 49.14 | 10.36 | -18.43 | -3.27 |
| 21Q2 (7) | 2.20 | 37.5 | 5.26 | 78.62 | -1.97 | -2.9 | 22.05 | 5.1 | -2.91 | 22.67 | 1.75 | -1.99 | 18.81 | 5.91 | 2.28 | 4.58 | 19.58 | -18.79 | 3.50 | 32.08 | -1.69 | 0.19 | 26.67 | 0.0 | 26.96 | -2.81 | -3.33 | 32.37 | 8.26 | -55.28 | 97.18 | 3.05 | -0.91 | 2.82 | -52.44 | 46.48 | 12.70 | -12.89 | -3.42 |
| 21Q1 (6) | 1.60 | -48.22 | -17.1 | 80.20 | -2.8 | -3.84 | 20.98 | -24.69 | -9.88 | 22.28 | -21.93 | -9.5 | 17.76 | -21.87 | -9.8 | 3.83 | -52.95 | -25.78 | 2.65 | -46.89 | -23.63 | 0.15 | -31.82 | -11.76 | 27.74 | -14.7 | -7.29 | 29.90 | -53.46 | -38.02 | 94.31 | -3.35 | -0.25 | 5.92 | 157.63 | 8.58 | 14.58 | 59.52 | 1.67 |
| 20Q4 (5) | 3.09 | 38.57 | -1.9 | 82.51 | 0.63 | 0.52 | 27.86 | 7.4 | 0.65 | 28.54 | 6.53 | -0.76 | 22.73 | 6.51 | -0.92 | 8.14 | 24.27 | -6.33 | 4.99 | 27.3 | -12.76 | 0.22 | 22.22 | -12.0 | 32.52 | 2.49 | 1.88 | 64.24 | 1.1 | 23.42 | 97.57 | 0.87 | 1.34 | 2.30 | -25.8 | -38.17 | 9.14 | -14.66 | 3.51 |
| 20Q3 (4) | 2.23 | 6.7 | 0.0 | 81.99 | 1.26 | 0.0 | 25.94 | 14.22 | 0.0 | 26.79 | 15.82 | 0.0 | 21.34 | 16.04 | 0.0 | 6.55 | 16.13 | 0.0 | 3.92 | 10.11 | 0.0 | 0.18 | -5.26 | 0.0 | 31.73 | 13.77 | 0.0 | 63.54 | -12.23 | 0.0 | 96.73 | -1.37 | 0.0 | 3.10 | 61.1 | 0.0 | 10.71 | -18.56 | 0.0 |
| 20Q2 (3) | 2.09 | 8.29 | 0.0 | 80.97 | -2.91 | 0.0 | 22.71 | -2.45 | 0.0 | 23.13 | -6.05 | 0.0 | 18.39 | -6.6 | 0.0 | 5.64 | 9.3 | 0.0 | 3.56 | 2.59 | 0.0 | 0.19 | 11.76 | 0.0 | 27.89 | -6.78 | 0.0 | 72.39 | 50.06 | 0.0 | 98.08 | 3.74 | 0.0 | 1.92 | -64.74 | 0.0 | 13.15 | -8.3 | 0.0 |
| 20Q1 (2) | 1.93 | -38.73 | 0.0 | 83.40 | 1.61 | 0.0 | 23.28 | -15.9 | 0.0 | 24.62 | -14.39 | 0.0 | 19.69 | -14.17 | 0.0 | 5.16 | -40.62 | 0.0 | 3.47 | -39.34 | 0.0 | 0.17 | -32.0 | 0.0 | 29.92 | -6.27 | 0.0 | 48.24 | -7.32 | 0.0 | 94.55 | -1.8 | 0.0 | 5.45 | 46.71 | 0.0 | 14.34 | 62.4 | 0.0 |
| 19Q4 (1) | 3.15 | 0.0 | 0.0 | 82.08 | 0.0 | 0.0 | 27.68 | 0.0 | 0.0 | 28.76 | 0.0 | 0.0 | 22.94 | 0.0 | 0.0 | 8.69 | 0.0 | 0.0 | 5.72 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 31.92 | 0.0 | 0.0 | 52.05 | 0.0 | 0.0 | 96.28 | 0.0 | 0.0 | 3.72 | 0.0 | 0.0 | 8.83 | 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) | 9.81 | -0.3 | 80.26 | -1.68 | 23.47 | -4.44 | 4.08 | -2.52 | 25.02 | -3.29 | 20.14 | -3.54 | 18.81 | -6.51 | 14.03 | -5.97 | 0.70 | -1.41 | 29.37 | -2.81 | 33.38 | -4.93 | 93.84 | -1.16 | 6.16 | 21.81 | 0.81 | 175.68 | 11.87 | 1.45 |
| 2022 (9) | 9.84 | 11.69 | 81.63 | 1.81 | 24.56 | 4.11 | 4.19 | -1.4 | 25.87 | 4.95 | 20.88 | 5.03 | 20.12 | -4.91 | 14.92 | 3.83 | 0.71 | -1.39 | 30.22 | 4.03 | 35.11 | 0.83 | 94.94 | -0.83 | 5.06 | 18.63 | 0.29 | 24.55 | 11.70 | 0.95 |
| 2021 (8) | 8.81 | -5.67 | 80.18 | -2.47 | 23.59 | -6.17 | 4.25 | -3.65 | 24.65 | -4.97 | 19.88 | -3.82 | 21.16 | -13.74 | 14.37 | -7.83 | 0.72 | -4.0 | 29.05 | -5.16 | 34.82 | -45.8 | 95.73 | -1.23 | 4.27 | 38.93 | 0.23 | -19.07 | 11.59 | -0.34 |
| 2020 (7) | 9.34 | -3.01 | 82.21 | 0.39 | 25.14 | -0.51 | 4.41 | 31.76 | 25.94 | -1.78 | 20.67 | -1.48 | 24.53 | -8.88 | 15.59 | -12.17 | 0.75 | -10.71 | 30.63 | 1.9 | 64.24 | 23.42 | 96.93 | 1.29 | 3.07 | -28.66 | 0.29 | -5.89 | 11.63 | 1.22 |
| 2019 (6) | 9.63 | 0.63 | 81.89 | 2.61 | 25.27 | -1.25 | 3.34 | 20.92 | 26.41 | -0.04 | 20.98 | 1.94 | 26.92 | -5.58 | 17.75 | -4.11 | 0.84 | -5.62 | 30.06 | 2.18 | 52.05 | -2.86 | 95.70 | -1.17 | 4.30 | 35.64 | 0.31 | 64.05 | 11.49 | 0.26 |
| 2018 (5) | 9.57 | -4.59 | 79.81 | -4.73 | 25.59 | 6.58 | 2.77 | 19.11 | 26.42 | 3.12 | 20.58 | -0.15 | 28.51 | -10.77 | 18.51 | -7.68 | 0.89 | -8.25 | 29.42 | 4.29 | 53.58 | -4.87 | 96.83 | 3.31 | 3.17 | -49.47 | 0.19 | 0 | 11.46 | 8.94 |
| 2017 (4) | 10.03 | 2.14 | 83.77 | -2.84 | 24.01 | -1.27 | 2.32 | 4.04 | 25.62 | 1.75 | 20.61 | 0.34 | 31.95 | -15.32 | 20.05 | -4.84 | 0.97 | -3.96 | 28.21 | 1.44 | 56.32 | -13.54 | 93.72 | -3.01 | 6.28 | 86.1 | 0.00 | 0 | 10.52 | 6.48 |
| 2016 (3) | 9.82 | 21.69 | 86.22 | -2.13 | 24.32 | -2.76 | 2.23 | 7.85 | 25.18 | -3.04 | 20.54 | -3.75 | 37.73 | -3.21 | 21.07 | -5.94 | 1.01 | -2.88 | 27.81 | -1.97 | 65.14 | -37.43 | 96.63 | 0.41 | 3.37 | -9.25 | 0.00 | 0 | 9.88 | -5.54 |
| 2015 (2) | 8.07 | 11.46 | 88.10 | -0.46 | 25.01 | -1.77 | 2.07 | 0.8 | 25.97 | -3.42 | 21.34 | -3.31 | 38.98 | -2.48 | 22.40 | -19.25 | 1.04 | -17.46 | 28.37 | -1.97 | 104.11 | 134.22 | 96.23 | 1.58 | 3.72 | -29.45 | 0.00 | 0 | 10.46 | 2.85 |
| 2014 (1) | 7.24 | 12.77 | 88.51 | 0 | 25.46 | 0 | 2.05 | -5.87 | 26.89 | 0 | 22.07 | 0 | 39.97 | 0 | 27.74 | 0 | 1.26 | -5.26 | 28.94 | 5.27 | 44.45 | 1.67 | 94.73 | 1.64 | 5.27 | -22.48 | 0.00 | 0 | 10.17 | 8.19 |
