- 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) | 0.41 | -29.31 | 24.24 | 16.39 | 8.26 | 19.55 | 6.97 | -2.92 | 15.78 | 8.72 | -20.58 | 7.39 | 7.41 | -20.24 | 8.81 | 2.01 | -35.16 | 4.15 | 1.47 | -31.94 | 10.53 | 0.19 | -13.64 | 5.56 | 11.65 | -15.15 | 2.01 | 39.78 | -11.4 | -22.03 | 79.56 | 21.56 | 7.4 | 20.00 | -42.12 | -22.86 | 8.47 | 13.08 | 8.45 |
| 24Q2 (19) | 0.58 | 48.72 | 123.08 | 15.14 | 16.82 | 25.33 | 7.18 | 23.79 | 120.25 | 10.98 | 28.27 | 81.79 | 9.29 | 27.96 | 83.96 | 3.10 | 40.27 | 115.28 | 2.16 | 38.46 | 109.71 | 0.22 | 10.0 | 15.79 | 13.73 | 19.29 | 48.92 | 44.90 | -15.71 | -18.87 | 65.44 | -3.6 | 21.66 | 34.56 | 7.62 | -25.21 | 7.49 | 6.39 | 16.12 |
| 24Q1 (18) | 0.39 | 333.33 | 95.0 | 12.96 | 21.12 | 4.1 | 5.80 | 54.26 | 9.02 | 8.56 | 389.14 | 72.93 | 7.26 | 278.12 | 101.67 | 2.21 | 325.0 | 114.56 | 1.56 | 262.79 | 105.26 | 0.20 | 11.11 | 5.26 | 11.51 | 125.24 | 45.51 | 53.27 | 14.63 | 21.23 | 67.89 | -68.48 | -36.77 | 32.11 | 127.83 | 535.27 | 7.04 | -11.34 | 1.0 |
| 23Q4 (17) | 0.09 | -72.73 | -70.0 | 10.70 | -21.95 | -12.51 | 3.76 | -37.54 | -9.18 | 1.75 | -78.45 | -71.31 | 1.92 | -71.81 | -66.14 | 0.52 | -73.06 | -69.41 | 0.43 | -67.67 | -62.61 | 0.18 | 0.0 | -5.26 | 5.11 | -55.25 | -44.52 | 46.47 | -8.92 | -15.83 | 215.38 | 190.77 | 217.85 | -115.38 | -545.05 | -457.93 | 7.94 | 1.66 | 10.12 |
| 23Q3 (16) | 0.33 | 26.92 | -38.89 | 13.71 | 13.49 | -14.74 | 6.02 | 84.66 | -21.31 | 8.12 | 34.44 | -35.61 | 6.81 | 34.85 | -32.57 | 1.93 | 34.03 | -39.88 | 1.33 | 29.13 | -32.83 | 0.18 | -5.26 | -5.26 | 11.42 | 23.86 | -25.7 | 51.02 | -7.81 | -21.47 | 74.07 | 37.7 | 22.05 | 25.93 | -43.89 | -34.04 | 7.81 | 21.09 | -14.08 |
| 23Q2 (15) | 0.26 | 30.0 | -65.33 | 12.08 | -2.97 | -49.81 | 3.26 | -38.72 | -77.93 | 6.04 | 22.02 | -65.21 | 5.05 | 40.28 | -63.11 | 1.44 | 39.81 | -68.0 | 1.03 | 35.53 | -65.08 | 0.19 | 0.0 | -9.52 | 9.22 | 16.56 | -53.71 | 55.34 | 25.94 | -17.3 | 53.79 | -49.9 | -36.85 | 46.21 | 726.36 | 211.9 | 6.45 | -7.46 | -35.31 |
| 23Q1 (14) | 0.20 | -33.33 | -70.59 | 12.45 | 1.8 | -39.68 | 5.32 | 28.5 | -54.61 | 4.95 | -18.85 | -65.02 | 3.60 | -36.51 | -67.54 | 1.03 | -39.41 | -74.25 | 0.76 | -33.91 | -72.86 | 0.19 | 0.0 | -24.0 | 7.91 | -14.12 | -52.38 | 43.94 | -20.41 | 1.27 | 107.38 | 58.46 | 29.67 | -7.38 | -122.88 | -142.91 | 6.97 | -3.33 | -16.83 |
| 22Q4 (13) | 0.30 | -44.44 | 7.14 | 12.23 | -23.94 | -40.46 | 4.14 | -45.88 | -61.27 | 6.10 | -51.63 | 625.86 | 5.67 | -43.86 | 21.67 | 1.70 | -47.04 | 31.78 | 1.15 | -41.92 | 25.0 | 0.19 | 0.0 | 0.0 | 9.21 | -40.08 | 309.33 | 55.21 | -15.02 | 18.17 | 67.76 | 11.65 | 107.27 | 32.24 | -17.99 | -96.88 | 7.21 | -20.68 | -28.9 |
| 22Q3 (12) | 0.54 | -28.0 | -8.47 | 16.08 | -33.19 | -32.49 | 7.65 | -48.21 | -45.63 | 12.61 | -27.36 | -18.7 | 10.10 | -26.22 | -19.78 | 3.21 | -28.67 | -9.07 | 1.98 | -32.88 | -20.16 | 0.19 | -9.52 | 0.0 | 15.37 | -22.84 | -18.24 | 64.97 | -2.91 | 42.07 | 60.69 | -28.75 | -33.08 | 39.31 | 165.33 | 322.56 | 9.09 | -8.83 | -19.41 |
| 22Q2 (11) | 0.75 | 10.29 | 27.12 | 24.07 | 16.62 | -1.59 | 14.77 | 26.02 | 2.36 | 17.36 | 22.69 | 19.39 | 13.69 | 23.44 | 20.4 | 4.50 | 12.5 | 26.76 | 2.95 | 5.36 | 17.06 | 0.21 | -16.0 | -4.55 | 19.92 | 19.93 | 12.86 | 66.92 | 54.23 | 55.02 | 85.19 | 2.87 | -14.34 | 14.81 | -13.82 | 1667.9 | 9.97 | 18.97 | 3.96 |
| 22Q1 (10) | 0.68 | 142.86 | 28.3 | 20.64 | 0.49 | -13.68 | 11.72 | 9.64 | -13.89 | 14.15 | 1319.83 | -0.7 | 11.09 | 137.98 | 0.45 | 4.00 | 210.08 | 17.99 | 2.80 | 204.35 | 18.14 | 0.25 | 31.58 | 19.05 | 16.61 | 638.22 | -5.57 | 43.39 | -7.13 | 0.86 | 82.81 | 108.89 | -13.29 | 17.19 | -98.33 | 281.65 | 8.38 | -17.36 | -15.69 |
| 21Q4 (9) | 0.28 | -52.54 | -9.68 | 20.54 | -13.77 | 0.1 | 10.69 | -24.02 | 7.44 | -1.16 | -107.48 | -112.71 | 4.66 | -62.99 | -37.03 | 1.29 | -63.46 | -34.18 | 0.92 | -62.9 | -32.35 | 0.19 | 0.0 | 5.56 | 2.25 | -88.03 | -83.16 | 46.72 | 2.16 | -3.81 | -932.00 | -1127.59 | -955.92 | 1032.00 | 10994.0 | 11710.0 | 10.14 | -10.11 | -12.06 |
| 21Q3 (8) | 0.59 | 0.0 | 55.26 | 23.82 | -2.62 | 14.68 | 14.07 | -2.49 | 31.62 | 15.51 | 6.67 | 40.11 | 12.59 | 10.73 | 50.78 | 3.53 | -0.56 | 44.67 | 2.48 | -1.59 | 48.5 | 0.19 | -13.64 | -5.0 | 18.80 | 6.52 | 22.64 | 45.73 | 5.93 | -8.54 | 90.70 | -8.79 | -6.11 | 9.30 | 1010.08 | 173.26 | 11.28 | 17.62 | 6.52 |
| 21Q2 (7) | 0.59 | 11.32 | 118.52 | 24.46 | 2.3 | 42.87 | 14.43 | 6.02 | 71.99 | 14.54 | 2.04 | 72.48 | 11.37 | 2.99 | 85.78 | 3.55 | 4.72 | 106.4 | 2.52 | 6.33 | 111.76 | 0.22 | 4.76 | 15.79 | 17.65 | 0.34 | 39.75 | 43.17 | 0.35 | -10.77 | 99.44 | 4.13 | 0.02 | 0.84 | -81.4 | 44.13 | 9.59 | -3.52 | 0 |
| 21Q1 (6) | 0.53 | 70.97 | 165.0 | 23.91 | 16.52 | 91.28 | 13.61 | 36.78 | 177.76 | 14.25 | 56.08 | 163.4 | 11.04 | 49.19 | 181.63 | 3.39 | 72.96 | 166.93 | 2.37 | 74.26 | 166.29 | 0.21 | 16.67 | 0.0 | 17.59 | 31.66 | 88.73 | 43.02 | -11.43 | -19.77 | 95.50 | -12.3 | 5.37 | 4.50 | 150.68 | -51.95 | 9.94 | -13.79 | 0 |
| 20Q4 (5) | 0.31 | -18.42 | 287.5 | 20.52 | -1.2 | 105.2 | 9.95 | -6.92 | 407.65 | 9.13 | -17.52 | 361.11 | 7.40 | -11.38 | 393.33 | 1.96 | -19.67 | 317.02 | 1.36 | -18.56 | 325.0 | 0.18 | -10.0 | -10.0 | 13.36 | -12.85 | 131.54 | 48.57 | -2.86 | -13.19 | 108.89 | 12.73 | 8.89 | -8.89 | -361.11 | 0 | 11.53 | 8.88 | 0 |
| 20Q3 (4) | 0.38 | 40.74 | 0.0 | 20.77 | 21.32 | 0.0 | 10.69 | 27.41 | 0.0 | 11.07 | 31.32 | 0.0 | 8.35 | 36.44 | 0.0 | 2.44 | 41.86 | 0.0 | 1.67 | 40.34 | 0.0 | 0.20 | 5.26 | 0.0 | 15.33 | 21.38 | 0.0 | 50.00 | 3.35 | 0.0 | 96.60 | -2.84 | 0.0 | 3.40 | 485.53 | 0.0 | 10.59 | 0 | 0.0 |
| 20Q2 (3) | 0.27 | 35.0 | 0.0 | 17.12 | 36.96 | 0.0 | 8.39 | 71.22 | 0.0 | 8.43 | 55.82 | 0.0 | 6.12 | 56.12 | 0.0 | 1.72 | 35.43 | 0.0 | 1.19 | 33.71 | 0.0 | 0.19 | -9.52 | 0.0 | 12.63 | 35.52 | 0.0 | 48.38 | -9.77 | 0.0 | 99.42 | 9.7 | 0.0 | 0.58 | -93.8 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 0.20 | 150.0 | 0.0 | 12.50 | 25.0 | 0.0 | 4.90 | 150.0 | 0.0 | 5.41 | 173.23 | 0.0 | 3.92 | 161.33 | 0.0 | 1.27 | 170.21 | 0.0 | 0.89 | 178.13 | 0.0 | 0.21 | 5.0 | 0.0 | 9.32 | 61.53 | 0.0 | 53.62 | -4.16 | 0.0 | 90.62 | -9.38 | 0.0 | 9.38 | 0 | 0.0 | 0.00 | 0 | 0.0 |
| 19Q4 (1) | 0.08 | 0.0 | 0.0 | 10.00 | 0.0 | 0.0 | 1.96 | 0.0 | 0.0 | 1.98 | 0.0 | 0.0 | 1.50 | 0.0 | 0.0 | 0.47 | 0.0 | 0.0 | 0.32 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 5.77 | 0.0 | 0.0 | 55.95 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 0.00 | 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) | 0.88 | -61.23 | 12.25 | -33.53 | 4.60 | -52.72 | 2.68 | 12.97 | 5.25 | -58.63 | 4.37 | -57.28 | 4.90 | -62.74 | 3.54 | -60.27 | 0.74 | -12.94 | 8.45 | -45.09 | 46.47 | -15.83 | 87.68 | 14.35 | 12.53 | -46.3 | 0.77 | 8.58 | 7.27 | -16.15 |
| 2022 (9) | 2.27 | 14.07 | 18.43 | -20.7 | 9.73 | -26.57 | 2.37 | -21.43 | 12.69 | 15.57 | 10.23 | 2.4 | 13.15 | 10.04 | 8.91 | 8.0 | 0.85 | 4.94 | 15.39 | 8.0 | 55.21 | 18.17 | 76.68 | -36.47 | 23.32 | 0 | 0.71 | -13.59 | 8.67 | -15.17 |
| 2021 (8) | 1.99 | 71.55 | 23.24 | 32.5 | 13.25 | 58.49 | 3.02 | -20.64 | 10.98 | 30.56 | 9.99 | 57.08 | 11.95 | 63.25 | 8.25 | 64.67 | 0.81 | 6.58 | 14.25 | 13.46 | 46.72 | -3.81 | 120.69 | 21.37 | -20.69 | 0 | 0.82 | -6.02 | 10.22 | 6.68 |
| 2020 (7) | 1.16 | 163.64 | 17.54 | 54.95 | 8.36 | 142.32 | 3.81 | 11.67 | 8.41 | 148.82 | 6.36 | 169.49 | 7.32 | 159.57 | 5.01 | 145.59 | 0.76 | -2.56 | 12.56 | 76.16 | 48.57 | -13.19 | 99.44 | -2.52 | 0.70 | 0 | 0.87 | 0.72 | 9.58 | 24.74 |
| 2019 (6) | 0.44 | -42.86 | 11.32 | -11.91 | 3.45 | -31.41 | 3.41 | 63.58 | 3.38 | -36.82 | 2.36 | -40.7 | 2.82 | -44.71 | 2.04 | -44.86 | 0.78 | -13.33 | 7.13 | -6.55 | 55.95 | 10.66 | 102.01 | 8.22 | -2.01 | 0 | 0.87 | -1.41 | 7.68 | 8.78 |
| 2018 (5) | 0.77 | -41.67 | 12.85 | -31.58 | 5.03 | -48.3 | 2.08 | -5.56 | 5.35 | -42.72 | 3.98 | -47.14 | 5.10 | -41.11 | 3.70 | -42.37 | 0.90 | 7.14 | 7.63 | -34.67 | 50.56 | 44.05 | 94.26 | -9.48 | 5.93 | 0 | 0.88 | -4.59 | 7.06 | -19.68 |
| 2017 (4) | 1.32 | -32.65 | 18.78 | -11.87 | 9.73 | -20.05 | 2.21 | -17.71 | 9.34 | -27.88 | 7.53 | -28.35 | 8.66 | -30.66 | 6.42 | -28.11 | 0.84 | 1.2 | 11.68 | -26.59 | 35.10 | -7.75 | 104.14 | 10.72 | -4.14 | 0 | 0.92 | 0 | 8.79 | -5.38 |
| 2016 (3) | 1.96 | 32.43 | 21.31 | 32.36 | 12.17 | 46.1 | 2.68 | 1.53 | 12.95 | 44.85 | 10.51 | 41.64 | 12.49 | 19.75 | 8.93 | 25.95 | 0.83 | -10.75 | 15.91 | 33.81 | 38.05 | -21.01 | 94.05 | 0.98 | 5.95 | -13.27 | 0.00 | 0 | 9.29 | 19.26 |
| 2015 (2) | 1.48 | 244.19 | 16.10 | 91.9 | 8.33 | 338.42 | 2.64 | 11.26 | 8.94 | 288.7 | 7.42 | 305.46 | 10.43 | 235.37 | 7.09 | 205.6 | 0.93 | -15.45 | 11.89 | 136.38 | 48.17 | -13.84 | 93.14 | 12.66 | 6.86 | -60.42 | 0.00 | 0 | 7.79 | 69.35 |
| 2014 (1) | 0.43 | -37.68 | 8.39 | 0 | 1.90 | 0 | 2.37 | 1.46 | 2.30 | 0 | 1.83 | 0 | 3.11 | 0 | 2.32 | 0 | 1.10 | -5.98 | 5.03 | -18.87 | 55.91 | 5.0 | 82.68 | -7.5 | 17.32 | 63.16 | 0.00 | 0 | 4.60 | 7.23 |
