- 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) | 0.75 | 63.04 | 20.97 | 15.88 | -13.18 | -10.54 | 5.76 | -30.6 | -13.77 | 15.44 | -27.03 | -38.92 | 24.97 | 61.72 | 20.51 | 1.36 | 65.85 | 22.52 | 0.90 | 63.64 | 23.29 | 0.04 | 0.0 | 0.0 | 27.34 | -17.9 | -24.31 | 48.69 | -10.5 | -1.44 | 37.28 | -4.8 | 41.09 | 62.72 | 3.36 | -14.76 | 8.16 | -11.59 | -8.83 |
| 24Q2 (19) | 0.46 | 39.39 | -82.64 | 18.29 | 63.74 | -63.61 | 8.30 | 121.93 | -79.35 | 21.16 | 71.34 | -53.84 | 15.44 | 56.75 | -64.13 | 0.82 | 38.98 | -83.06 | 0.55 | 37.5 | -82.54 | 0.04 | 0.0 | -42.86 | 33.30 | 44.66 | -34.82 | 54.40 | 12.54 | -1.56 | 39.16 | 29.57 | -55.33 | 60.68 | -13.04 | 393.47 | 9.23 | 37.56 | 2.33 |
| 24Q1 (18) | 0.33 | 57.14 | -36.54 | 11.17 | -2.45 | 43.21 | 3.74 | -46.72 | 377.04 | 12.35 | 50.24 | -33.1 | 9.85 | 23.59 | -33.58 | 0.59 | 55.26 | -38.54 | 0.40 | 53.85 | -36.51 | 0.04 | 33.33 | 0.0 | 23.02 | 13.9 | -16.71 | 48.34 | -1.21 | -7.23 | 30.22 | -64.71 | 516.53 | 69.78 | 371.01 | -34.94 | 6.71 | -17.06 | -10.41 |
| 23Q4 (17) | 0.21 | -66.13 | -58.0 | 11.45 | -35.49 | -34.46 | 7.02 | 5.09 | 47.79 | 8.22 | -67.48 | -50.06 | 7.97 | -61.53 | -43.27 | 0.38 | -65.77 | -59.14 | 0.26 | -64.38 | -57.38 | 0.03 | -25.0 | -25.0 | 20.21 | -44.05 | -19.87 | 48.93 | -0.95 | -6.25 | 85.65 | 224.15 | 196.43 | 14.81 | -79.86 | -79.17 | 8.09 | -9.61 | -3.0 |
| 23Q3 (16) | 0.62 | -76.6 | -3.13 | 17.75 | -64.68 | 92.1 | 6.68 | -83.38 | 356.92 | 25.28 | -44.85 | 19.08 | 20.72 | -51.86 | 22.39 | 1.11 | -77.07 | -7.5 | 0.73 | -76.83 | -5.19 | 0.04 | -42.86 | -20.0 | 36.12 | -29.3 | 24.51 | 49.40 | -10.6 | -6.08 | 26.42 | -69.86 | 314.65 | 73.58 | 498.36 | -34.49 | 8.95 | -0.78 | 26.59 |
| 23Q2 (15) | 2.65 | 409.62 | 239.74 | 50.26 | 544.36 | 3707.58 | 40.20 | 3077.78 | 463.8 | 45.84 | 148.32 | 79.13 | 43.04 | 190.22 | 109.64 | 4.84 | 404.17 | 231.51 | 3.15 | 400.0 | 242.39 | 0.07 | 75.0 | 40.0 | 51.09 | 84.84 | 53.33 | 55.26 | 6.04 | -7.59 | 87.67 | 1308.28 | 303.07 | 12.30 | -88.54 | -91.41 | 9.02 | 20.43 | -2.91 |
| 23Q1 (14) | 0.52 | 4.0 | -34.18 | 7.80 | -55.35 | 11.27 | -1.35 | -128.42 | 61.86 | 18.46 | 12.15 | -22.4 | 14.83 | 5.55 | -22.23 | 0.96 | 3.23 | -34.69 | 0.63 | 3.28 | -34.37 | 0.04 | 0.0 | -20.0 | 27.64 | 9.6 | -10.55 | 52.11 | -0.15 | -5.92 | -7.26 | -125.11 | 51.36 | 107.26 | 50.84 | -6.58 | 7.49 | -10.19 | 6.39 |
| 22Q4 (13) | 0.50 | -21.88 | -34.21 | 17.47 | 89.07 | 204.89 | 4.75 | 282.69 | 198.14 | 16.46 | -22.47 | -6.37 | 14.05 | -17.01 | -4.62 | 0.93 | -22.5 | -34.51 | 0.61 | -20.78 | -35.79 | 0.04 | -20.0 | -33.33 | 25.22 | -13.06 | 7.87 | 52.19 | -0.78 | 2.82 | 28.89 | 334.72 | 205.11 | 71.11 | -36.69 | -44.27 | 8.34 | 17.96 | 54.73 |
| 22Q3 (12) | 0.64 | -17.95 | -20.0 | 9.24 | 600.0 | -44.2 | -2.60 | 76.47 | -160.61 | 21.23 | -17.04 | -33.74 | 16.93 | -17.54 | -33.82 | 1.20 | -17.81 | -20.0 | 0.77 | -16.3 | -23.76 | 0.05 | 0.0 | 25.0 | 29.01 | -12.94 | -30.31 | 52.60 | -12.04 | 9.29 | -12.31 | 71.49 | -191.76 | 112.31 | -21.56 | 29.71 | 7.07 | -23.9 | -27.19 |
| 22Q2 (11) | 0.78 | -1.27 | 0.0 | 1.32 | -81.17 | -94.66 | -11.05 | -212.15 | -214.75 | 25.59 | 7.57 | -31.67 | 20.53 | 7.66 | -29.5 | 1.46 | -0.68 | 0.69 | 0.92 | -4.17 | -6.12 | 0.05 | 0.0 | 66.67 | 33.32 | 7.83 | -31.55 | 59.80 | 7.96 | 25.34 | -43.17 | -189.39 | -267.54 | 143.17 | 24.7 | 92.87 | 9.29 | 31.96 | -21.34 |
| 22Q1 (10) | 0.79 | 3.95 | 3.95 | 7.01 | 22.34 | -70.32 | -3.54 | 26.86 | -128.41 | 23.79 | 35.32 | -25.84 | 19.07 | 29.46 | -24.83 | 1.47 | 3.52 | 2.08 | 0.96 | 1.05 | -1.03 | 0.05 | -16.67 | 25.0 | 30.90 | 32.16 | -26.34 | 55.39 | 9.12 | 15.25 | -14.92 | 45.73 | -138.45 | 114.81 | -10.02 | 87.59 | 7.04 | 30.61 | -25.58 |
| 21Q4 (9) | 0.76 | -5.0 | 105.41 | 5.73 | -65.4 | -79.76 | -4.84 | -212.82 | -157.83 | 17.58 | -45.13 | -15.32 | 14.73 | -42.42 | -12.58 | 1.42 | -5.33 | 100.0 | 0.95 | -5.94 | 97.92 | 0.06 | 50.0 | 100.0 | 23.38 | -43.84 | -31.3 | 50.76 | 5.46 | 4.02 | -27.49 | -304.92 | -168.26 | 127.60 | 47.37 | 113.63 | 5.39 | -44.49 | -66.73 |
| 21Q3 (8) | 0.80 | 2.56 | 53.85 | 16.56 | -33.06 | -37.65 | 4.29 | -55.45 | -71.46 | 32.04 | -14.45 | 34.85 | 25.58 | -12.16 | 29.78 | 1.50 | 3.45 | 50.0 | 1.01 | 3.06 | 53.03 | 0.04 | 33.33 | 33.33 | 41.63 | -14.48 | 20.42 | 48.13 | 0.88 | -2.02 | 13.41 | -47.94 | -78.8 | 86.59 | 16.64 | 135.79 | 9.71 | -17.78 | -4.8 |
| 21Q2 (7) | 0.78 | 2.63 | 90.24 | 24.74 | 4.74 | -6.5 | 9.63 | -22.71 | -35.71 | 37.45 | 16.74 | 90.1 | 29.12 | 14.78 | 77.24 | 1.45 | 0.69 | 85.9 | 0.98 | 1.03 | 88.46 | 0.03 | -25.0 | 0.0 | 48.68 | 16.04 | 59.55 | 47.71 | -0.73 | -10.99 | 25.77 | -33.58 | -66.14 | 74.23 | 21.29 | 210.61 | 11.81 | 24.84 | 17.05 |
| 21Q1 (6) | 0.76 | 105.41 | -37.19 | 23.62 | -16.57 | 8.9 | 12.46 | 48.86 | 18.33 | 32.08 | 54.53 | -32.15 | 25.37 | 50.56 | -35.25 | 1.44 | 102.82 | -37.66 | 0.97 | 102.08 | -37.42 | 0.04 | 33.33 | 0.0 | 41.95 | 23.27 | -24.93 | 48.06 | -1.52 | -1.54 | 38.79 | -3.66 | 74.03 | 61.21 | 2.47 | -21.31 | 9.46 | -41.6 | -3.76 |
| 20Q4 (5) | 0.37 | -28.85 | -30.19 | 28.31 | 6.59 | -10.86 | 8.37 | -44.31 | -46.24 | 20.76 | -12.63 | 14.63 | 16.85 | -14.51 | 8.78 | 0.71 | -29.0 | -31.07 | 0.48 | -27.27 | -30.43 | 0.03 | 0.0 | -25.0 | 34.03 | -1.56 | 31.59 | 48.80 | -0.65 | -0.71 | 40.27 | -36.36 | -53.25 | 59.73 | 62.66 | 325.85 | 16.20 | 58.82 | 46.08 |
| 20Q3 (4) | 0.52 | 26.83 | 0.0 | 26.56 | 0.38 | 0.0 | 15.03 | 0.33 | 0.0 | 23.76 | 20.61 | 0.0 | 19.71 | 19.96 | 0.0 | 1.00 | 28.21 | 0.0 | 0.66 | 26.92 | 0.0 | 0.03 | 0.0 | 0.0 | 34.57 | 13.31 | 0.0 | 49.12 | -8.36 | 0.0 | 63.28 | -16.85 | 0.0 | 36.72 | 53.65 | 0.0 | 10.20 | 1.09 | 0.0 |
| 20Q2 (3) | 0.41 | -66.12 | 0.0 | 26.46 | 21.99 | 0.0 | 14.98 | 42.26 | 0.0 | 19.70 | -58.33 | 0.0 | 16.43 | -58.07 | 0.0 | 0.78 | -66.23 | 0.0 | 0.52 | -66.45 | 0.0 | 0.03 | -25.0 | 0.0 | 30.51 | -45.4 | 0.0 | 53.60 | 9.81 | 0.0 | 76.10 | 241.38 | 0.0 | 23.90 | -69.27 | 0.0 | 10.09 | 2.64 | 0.0 |
| 20Q1 (2) | 1.21 | 128.3 | 0.0 | 21.69 | -31.71 | 0.0 | 10.53 | -32.37 | 0.0 | 47.28 | 161.07 | 0.0 | 39.18 | 152.94 | 0.0 | 2.31 | 124.27 | 0.0 | 1.55 | 124.64 | 0.0 | 0.04 | 0.0 | 0.0 | 55.88 | 116.09 | 0.0 | 48.81 | -0.69 | 0.0 | 22.29 | -74.12 | 0.0 | 77.78 | 454.51 | 0.0 | 9.83 | -11.36 | 0.0 |
| 19Q4 (1) | 0.53 | 0.0 | 0.0 | 31.76 | 0.0 | 0.0 | 15.57 | 0.0 | 0.0 | 18.11 | 0.0 | 0.0 | 15.49 | 0.0 | 0.0 | 1.03 | 0.0 | 0.0 | 0.69 | 0.0 | 0.0 | 0.04 | 0.0 | 0.0 | 25.86 | 0.0 | 0.0 | 49.15 | 0.0 | 0.0 | 86.14 | 0.0 | 0.0 | 14.03 | 0.0 | 0.0 | 11.09 | 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) | 4.00 | 47.06 | 27.43 | 219.7 | 18.37 | 0 | 8.36 | 7.89 | 28.99 | 32.37 | 26.10 | 47.13 | 7.27 | 43.96 | 4.83 | 44.61 | 0.19 | 0.0 | 37.40 | 25.84 | 48.93 | -6.25 | 63.37 | 0 | 36.65 | -68.09 | 0.14 | -3.41 | 8.50 | 7.46 |
| 2022 (9) | 2.72 | -12.26 | 8.58 | -45.21 | -3.25 | 0 | 7.75 | -8.63 | 21.90 | -21.11 | 17.74 | -20.16 | 5.05 | -13.53 | 3.34 | -14.36 | 0.19 | 5.56 | 29.72 | -18.19 | 52.19 | 2.82 | -14.84 | 0 | 114.84 | 32.6 | 0.15 | -4.89 | 7.91 | -6.5 |
| 2021 (8) | 3.10 | 24.0 | 15.66 | -38.49 | 3.71 | -69.76 | 8.49 | -19.65 | 27.76 | -4.8 | 22.22 | -7.88 | 5.84 | 21.41 | 3.90 | 20.74 | 0.18 | 38.46 | 36.33 | -8.79 | 50.76 | 4.02 | 13.37 | -68.23 | 86.60 | 49.46 | 0.16 | -2.21 | 8.46 | -25.33 |
| 2020 (7) | 2.50 | 18.48 | 25.46 | 8.25 | 12.27 | -2.7 | 10.56 | 35.46 | 29.16 | 52.51 | 24.12 | 50.66 | 4.81 | 18.18 | 3.23 | 18.75 | 0.13 | -23.53 | 39.83 | 47.52 | 48.80 | -0.71 | 42.09 | -36.22 | 57.94 | 70.37 | 0.16 | -4.02 | 11.33 | 29.19 |
| 2019 (6) | 2.11 | -9.44 | 23.52 | 4.39 | 12.61 | 19.75 | 7.80 | 17.13 | 19.12 | -20.83 | 16.01 | -14.29 | 4.07 | -10.94 | 2.72 | -9.63 | 0.17 | 6.25 | 27.00 | -14.26 | 49.15 | -2.56 | 65.99 | 51.26 | 34.01 | -39.67 | 0.17 | -12.16 | 8.77 | -6.1 |
| 2018 (5) | 2.33 | 41.21 | 22.53 | 0.99 | 10.53 | 0.0 | 6.66 | 5.87 | 24.15 | 53.53 | 18.68 | 34.49 | 4.57 | 40.18 | 3.01 | 40.65 | 0.16 | 6.67 | 31.49 | 38.42 | 50.44 | -4.99 | 43.63 | -34.84 | 56.37 | 70.61 | 0.19 | -38.88 | 9.34 | -1.27 |
| 2017 (4) | 1.65 | 0 | 22.31 | 36.12 | 10.53 | 116.22 | 6.29 | 8.39 | 15.73 | 3933.33 | 13.89 | 0 | 3.26 | 0 | 2.14 | 0 | 0.15 | -6.25 | 22.75 | 228.28 | 53.09 | 2.37 | 66.96 | -94.72 | 33.04 | 0 | 0.31 | 0 | 9.46 | 13.7 |
| 2016 (3) | -0.07 | 0 | 16.39 | -26.04 | 4.87 | -63.68 | 5.80 | 51.38 | 0.39 | -97.36 | -0.59 | 0 | -0.14 | 0 | -0.09 | 0 | 0.16 | -30.43 | 6.93 | -63.85 | 51.86 | -0.82 | 1268.09 | 1295.16 | -1165.96 | 0 | 0.00 | 0 | 8.32 | 20.41 |
| 2015 (2) | 2.53 | -16.78 | 22.16 | 33.25 | 13.41 | 41.46 | 3.83 | 15.07 | 14.75 | -9.29 | 14.17 | -19.12 | 4.75 | -20.17 | 3.32 | -26.87 | 0.23 | -11.54 | 19.17 | -3.08 | 52.29 | 51.3 | 90.89 | 50.03 | 9.11 | -76.89 | 0.00 | 0 | 6.91 | -9.32 |
| 2014 (1) | 3.04 | 17.37 | 16.63 | 0 | 9.48 | 0 | 3.33 | 83.92 | 16.26 | 0 | 17.52 | 0 | 5.95 | 0 | 4.54 | 0 | 0.26 | 8.33 | 19.78 | 5.16 | 34.56 | 11.38 | 60.58 | 102.36 | 39.42 | -43.74 | 0.00 | 0 | 7.62 | 9.01 |
