- 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) | 5.98 | 17.49 | 25.63 | 63.34 | 4.35 | 9.4 | 40.36 | 17.22 | 24.53 | 36.26 | 3.54 | 5.87 | 29.90 | 6.52 | 9.77 | 8.09 | 8.3 | 4.52 | 4.67 | 11.46 | 11.46 | 0.15 | 7.14 | 7.14 | 45.22 | 1.6 | 3.64 | 84.16 | -3.74 | -12.6 | 111.28 | 13.18 | 17.58 | -11.28 | -768.85 | -310.2 | 15.24 | -2.37 | 10.12 |
| 24Q2 (19) | 5.09 | 28.54 | 4.95 | 60.70 | 10.63 | 3.48 | 34.43 | 15.11 | -5.23 | 35.02 | 12.53 | 2.07 | 28.07 | 13.74 | -1.51 | 7.47 | 24.29 | -12.94 | 4.19 | 21.8 | -4.99 | 0.14 | 16.67 | 0.0 | 44.51 | 5.32 | 1.18 | 87.43 | -12.46 | -17.03 | 98.31 | 2.23 | -7.17 | 1.69 | -56.83 | 128.55 | 15.61 | -6.58 | 19.43 |
| 24Q1 (18) | 3.96 | 158.82 | -13.54 | 54.87 | 31.84 | -8.32 | 29.91 | 613.84 | -18.68 | 31.12 | 109.42 | -6.43 | 24.68 | 110.94 | -6.48 | 6.01 | 156.84 | -29.63 | 3.44 | 115.0 | -20.19 | 0.12 | 20.0 | -20.0 | 42.26 | 46.08 | -1.1 | 99.87 | 10.56 | -15.12 | 96.17 | 241.64 | -13.02 | 3.91 | -94.57 | 136.96 | 16.71 | -23.66 | 30.55 |
| 23Q4 (17) | 1.53 | -67.86 | 139.06 | 41.62 | -28.12 | -5.67 | 4.19 | -87.07 | -62.72 | 14.86 | -56.61 | 59.96 | 11.70 | -57.05 | 121.59 | 2.34 | -69.77 | 90.24 | 1.60 | -61.81 | 73.91 | 0.10 | -28.57 | -9.09 | 28.93 | -33.69 | 39.89 | 90.33 | -6.19 | -20.0 | 28.15 | -70.25 | -76.67 | 71.85 | 1239.5 | 441.87 | 21.89 | 58.16 | 15.51 |
| 23Q3 (16) | 4.76 | -1.86 | -40.28 | 57.90 | -1.3 | -14.68 | 32.41 | -10.79 | -33.86 | 34.25 | -0.17 | -29.82 | 27.24 | -4.42 | -29.39 | 7.74 | -9.79 | -53.82 | 4.19 | -4.99 | -51.17 | 0.14 | 0.0 | -33.33 | 43.63 | -0.82 | -20.95 | 96.29 | -8.63 | -3.65 | 94.64 | -10.64 | -5.76 | 5.36 | 190.83 | 1382.48 | 13.84 | 5.89 | 29.47 |
| 23Q2 (15) | 4.85 | 5.9 | 284.92 | 58.66 | -1.99 | 23.78 | 36.33 | -1.22 | 115.74 | 34.31 | 3.16 | 134.04 | 28.50 | 8.0 | 153.11 | 8.58 | 0.47 | 200.0 | 4.41 | 2.32 | 164.07 | 0.14 | -6.67 | 16.67 | 43.99 | 2.95 | 69.98 | 105.38 | -10.44 | -1.76 | 105.91 | -4.21 | -7.71 | -5.91 | 44.1 | 59.97 | 13.07 | 2.11 | -32.56 |
| 23Q1 (14) | 4.58 | 615.62 | 166.28 | 59.85 | 35.65 | 38.03 | 36.78 | 227.22 | 86.51 | 33.26 | 258.02 | 78.63 | 26.39 | 399.81 | 87.03 | 8.54 | 594.31 | 116.75 | 4.31 | 368.48 | 90.71 | 0.15 | 36.36 | 7.14 | 42.73 | 106.62 | 54.04 | 117.66 | 4.21 | 9.96 | 110.56 | -8.38 | 4.36 | -10.56 | 49.73 | -77.79 | 12.80 | -32.45 | -21.23 |
| 22Q4 (13) | 0.64 | -91.97 | -35.35 | 44.12 | -34.98 | -5.61 | 11.24 | -77.06 | -19.83 | 9.29 | -80.96 | -18.72 | 5.28 | -86.31 | -41.2 | 1.23 | -92.66 | -46.52 | 0.92 | -89.28 | -37.84 | 0.11 | -47.62 | -15.38 | 20.68 | -62.53 | -1.76 | 112.91 | 12.98 | 23.09 | 120.68 | 20.18 | -1.74 | -21.02 | -4924.96 | 7.87 | 18.95 | 77.27 | 8.6 |
| 22Q3 (12) | 7.97 | 532.54 | 494.78 | 67.86 | 43.19 | 49.87 | 49.00 | 190.97 | 156.81 | 48.80 | 232.88 | 215.65 | 38.58 | 242.63 | 238.72 | 16.76 | 486.01 | 417.28 | 8.58 | 413.77 | 346.88 | 0.21 | 75.0 | 50.0 | 55.19 | 113.25 | 130.53 | 99.94 | -6.83 | 7.15 | 100.42 | -12.49 | -18.53 | -0.42 | 97.17 | 98.22 | 10.69 | -44.84 | -36.44 |
| 22Q2 (11) | 1.26 | -26.74 | -8.7 | 47.39 | 9.29 | 13.32 | 16.84 | -14.6 | -3.55 | 14.66 | -21.27 | 4.94 | 11.26 | -20.2 | 9.96 | 2.86 | -27.41 | -20.33 | 1.67 | -26.11 | -15.23 | 0.12 | -14.29 | -25.0 | 25.88 | -6.71 | 19.37 | 107.27 | 0.25 | 5.64 | 114.75 | 8.32 | -8.2 | -14.75 | -148.29 | 40.98 | 19.38 | 19.26 | 32.02 |
| 22Q1 (10) | 1.72 | 73.74 | -7.03 | 43.36 | -7.23 | -3.71 | 19.72 | 40.66 | -8.19 | 18.62 | 62.9 | 4.31 | 14.11 | 57.13 | 4.52 | 3.94 | 71.3 | -21.67 | 2.26 | 52.7 | -9.6 | 0.14 | 7.69 | -12.5 | 27.74 | 31.78 | 8.11 | 107.00 | 16.65 | -15.81 | 105.94 | -13.74 | -12.01 | -5.94 | 73.95 | 70.88 | 16.25 | -6.88 | -11.73 |
| 21Q4 (9) | 0.99 | -26.12 | -24.43 | 46.74 | 3.22 | 10.03 | 14.02 | -26.52 | -1.96 | 11.43 | -26.07 | -11.6 | 8.98 | -21.16 | -11.61 | 2.30 | -29.01 | -38.5 | 1.48 | -22.92 | -24.87 | 0.13 | -7.14 | -18.75 | 21.05 | -12.07 | -0.61 | 91.73 | -1.65 | -27.12 | 122.81 | -0.36 | 11.02 | -22.81 | 2.79 | -114.86 | 17.45 | 3.75 | 5.95 |
| 21Q3 (8) | 1.34 | -2.9 | 16.52 | 45.28 | 8.27 | 4.12 | 19.08 | 9.28 | 25.03 | 15.46 | 10.67 | 22.89 | 11.39 | 11.23 | 17.91 | 3.24 | -9.75 | -6.09 | 1.92 | -2.54 | 3.78 | 0.14 | -12.5 | -12.5 | 23.94 | 10.42 | 10.88 | 93.27 | -8.14 | -25.65 | 123.26 | -1.4 | 1.46 | -23.47 | 6.13 | -9.21 | 16.82 | 14.58 | -5.61 |
| 21Q2 (7) | 1.38 | -25.41 | 12.2 | 41.82 | -7.13 | 3.51 | 17.46 | -18.72 | 11.07 | 13.97 | -21.74 | 1.67 | 10.24 | -24.15 | -6.48 | 3.59 | -28.63 | -7.47 | 1.97 | -21.2 | -1.99 | 0.16 | 0.0 | 6.67 | 21.68 | -15.51 | -6.43 | 101.54 | -20.1 | -21.38 | 125.00 | 3.82 | 9.38 | -25.00 | -22.52 | -71.82 | 14.68 | -20.26 | 0 |
| 21Q1 (6) | 1.85 | 41.22 | 242.59 | 45.03 | 6.0 | -1.87 | 21.48 | 50.21 | 44.26 | 17.85 | 38.05 | 120.64 | 13.50 | 32.87 | 101.19 | 5.03 | 34.49 | 192.44 | 2.50 | 26.9 | 115.52 | 0.16 | 0.0 | 45.45 | 25.66 | 21.15 | 19.07 | 127.09 | 0.97 | -12.39 | 120.40 | 8.85 | -34.44 | -20.40 | -92.18 | 75.61 | 18.41 | 11.78 | 0 |
| 20Q4 (5) | 1.31 | 13.91 | 125.86 | 42.48 | -2.32 | 13.19 | 14.30 | -6.29 | 79.42 | 12.93 | 2.78 | 110.93 | 10.16 | 5.18 | 128.31 | 3.74 | 8.41 | 106.63 | 1.97 | 6.49 | 64.17 | 0.16 | 0.0 | -5.88 | 21.18 | -1.9 | 48.84 | 125.87 | 0.33 | -4.19 | 110.62 | -8.95 | -14.7 | -10.62 | 50.59 | 64.24 | 16.47 | -7.58 | 16.23 |
| 20Q3 (4) | 1.15 | -6.5 | 0.0 | 43.49 | 7.65 | 0.0 | 15.26 | -2.93 | 0.0 | 12.58 | -8.44 | 0.0 | 9.66 | -11.78 | 0.0 | 3.45 | -11.08 | 0.0 | 1.85 | -7.96 | 0.0 | 0.16 | 6.67 | 0.0 | 21.59 | -6.82 | 0.0 | 125.45 | -2.87 | 0.0 | 121.49 | 6.3 | 0.0 | -21.49 | -47.68 | 0.0 | 17.82 | 0 | 0.0 |
| 20Q2 (3) | 1.23 | 127.78 | 0.0 | 40.40 | -11.96 | 0.0 | 15.72 | 5.57 | 0.0 | 13.74 | 69.84 | 0.0 | 10.95 | 63.19 | 0.0 | 3.88 | 125.58 | 0.0 | 2.01 | 73.28 | 0.0 | 0.15 | 36.36 | 0.0 | 23.17 | 7.52 | 0.0 | 129.16 | -10.96 | 0.0 | 114.29 | -37.77 | 0.0 | -14.55 | 82.61 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 0.54 | -6.9 | 0.0 | 45.89 | 22.28 | 0.0 | 14.89 | 86.83 | 0.0 | 8.09 | 31.97 | 0.0 | 6.71 | 50.79 | 0.0 | 1.72 | -4.97 | 0.0 | 1.16 | -3.33 | 0.0 | 0.11 | -35.29 | 0.0 | 21.55 | 51.44 | 0.0 | 145.06 | 10.41 | 0.0 | 183.65 | 41.61 | 0.0 | -83.65 | -181.76 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 0.58 | 0.0 | 0.0 | 37.53 | 0.0 | 0.0 | 7.97 | 0.0 | 0.0 | 6.13 | 0.0 | 0.0 | 4.45 | 0.0 | 0.0 | 1.81 | 0.0 | 0.0 | 1.20 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 14.23 | 0.0 | 0.0 | 131.38 | 0.0 | 0.0 | 129.69 | 0.0 | 0.0 | -29.69 | 0.0 | 0.0 | 14.17 | 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) | 15.72 | 35.63 | 55.34 | 3.73 | 28.91 | 2.88 | 1.81 | 3.48 | 30.09 | 11.73 | 24.21 | 17.3 | 26.32 | 8.63 | 14.56 | 11.06 | 0.54 | -6.9 | 40.52 | 12.71 | 90.33 | -20.0 | 96.08 | -7.92 | 3.92 | 0 | 39.51 | -10.15 | 14.98 | -2.79 |
| 2022 (9) | 11.59 | 110.73 | 53.35 | 19.65 | 28.10 | 54.82 | 1.75 | -7.8 | 26.93 | 82.21 | 20.64 | 86.11 | 24.23 | 71.0 | 13.11 | 63.67 | 0.58 | -6.45 | 35.95 | 55.43 | 112.91 | 23.09 | 104.34 | -14.98 | -4.34 | 0 | 43.97 | -1.24 | 15.41 | -8.22 |
| 2021 (8) | 5.50 | 30.33 | 44.59 | 4.08 | 18.15 | 20.76 | 1.90 | -16.23 | 14.78 | 21.55 | 11.09 | 15.52 | 14.17 | 13.27 | 8.01 | 17.28 | 0.62 | 8.77 | 23.13 | 5.71 | 91.73 | -27.12 | 122.73 | -0.78 | -22.73 | 0 | 44.52 | -9.58 | 16.79 | -8.8 |
| 2020 (7) | 4.22 | 54.01 | 42.84 | -6.89 | 15.03 | 20.34 | 2.26 | -16.28 | 12.16 | 19.57 | 9.60 | 20.3 | 12.51 | 25.6 | 6.83 | 7.73 | 0.57 | -1.72 | 21.88 | 9.51 | 125.87 | -7.26 | 123.70 | 0.71 | -23.62 | 0 | 49.24 | 0.19 | 18.41 | -12.71 |
| 2019 (6) | 2.74 | 552.38 | 46.01 | -5.78 | 12.49 | 78.94 | 2.71 | -2.84 | 10.17 | 298.82 | 7.98 | 313.47 | 9.96 | 514.81 | 6.34 | 154.62 | 0.58 | 38.1 | 19.98 | 46.8 | 135.73 | 45.34 | 122.82 | -55.14 | -22.82 | 0 | 49.15 | -11.71 | 21.09 | -30.26 |
| 2018 (5) | 0.42 | 366.67 | 48.83 | 1.86 | 6.98 | -18.17 | 2.78 | -2.79 | 2.55 | -30.52 | 1.93 | 91.09 | 1.62 | 97.56 | 2.49 | 36.81 | 0.42 | 0.0 | 13.61 | 2.1 | 93.39 | -10.43 | 273.78 | 17.91 | -173.78 | 0 | 55.67 | 0 | 30.24 | 12.29 |
| 2017 (4) | 0.09 | 0 | 47.94 | -14.97 | 8.53 | 109.07 | 2.86 | -3.38 | 3.67 | 1259.26 | 1.01 | 0 | 0.82 | 0 | 1.82 | 133.33 | 0.42 | 10.53 | 13.33 | 31.33 | 104.27 | 25.61 | 232.20 | -84.58 | -132.20 | 0 | 0.00 | 0 | 26.93 | -4.67 |
| 2016 (3) | -0.63 | 0 | 56.38 | -3.57 | 4.08 | -49.82 | 2.96 | -18.55 | 0.27 | -95.11 | -1.88 | 0 | -1.30 | 0 | 0.78 | -73.01 | 0.38 | 8.57 | 10.15 | -41.67 | 83.01 | 7.03 | 1506.25 | 923.18 | -1406.25 | 0 | 0.00 | 0 | 28.25 | 3.29 |
| 2015 (2) | 0.44 | 0 | 58.47 | 16.96 | 8.13 | 0 | 3.64 | -23.56 | 5.52 | 0 | 2.92 | 0 | 1.84 | 0 | 2.89 | 0 | 0.35 | 59.09 | 17.40 | 0 | 77.56 | -9.58 | 147.21 | 98.65 | -47.21 | 0 | 0.00 | 0 | 27.35 | -24.3 |
| 2014 (1) | -2.41 | 0 | 49.99 | 0 | -18.84 | 0 | 4.76 | 46.5 | -25.40 | 0 | -23.56 | 0 | -10.61 | 0 | -4.58 | 0 | 0.22 | -71.79 | -14.59 | 0 | 85.78 | -55.47 | 74.11 | 0 | 25.89 | -93.98 | 0.00 | 0 | 36.13 | 120.84 |
