- 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) | 1.88 | 13.94 | 5.62 | 30.73 | -2.48 | -7.63 | 10.82 | 1.98 | -24.81 | 12.49 | 11.72 | 3.31 | 10.14 | 12.42 | 21.88 | 1.79 | 12.58 | 13.29 | 1.28 | 13.27 | 15.32 | 0.12 | 0.0 | 0.0 | 22.51 | 5.58 | 3.4 | 44.92 | -8.59 | -9.25 | 86.71 | -8.66 | -27.16 | 13.42 | 157.55 | 170.47 | 28.64 | 0.17 | 14.56 |
| 24Q2 (19) | 1.65 | 47.32 | -6.78 | 31.51 | 9.18 | -6.39 | 10.61 | 45.94 | -27.18 | 11.18 | 27.33 | -15.56 | 9.02 | 37.5 | 2.38 | 1.59 | 54.37 | -7.02 | 1.13 | 48.68 | -3.42 | 0.12 | 9.09 | 0.0 | 21.32 | 6.92 | -6.7 | 49.14 | -0.34 | -10.65 | 94.93 | 14.87 | -13.68 | 5.21 | -69.62 | 151.62 | 28.59 | -5.8 | 7.28 |
| 24Q1 (18) | 1.12 | 19.15 | -11.11 | 28.86 | 9.61 | -5.0 | 7.27 | 134.52 | -26.79 | 8.78 | 77.02 | -14.67 | 6.56 | 24.48 | -6.55 | 1.03 | 18.39 | -11.97 | 0.76 | 15.15 | -9.52 | 0.11 | 0.0 | 0.0 | 19.94 | 26.2 | -6.12 | 49.31 | 6.09 | -14.64 | 82.64 | 32.05 | -14.31 | 17.15 | -54.16 | 381.8 | 30.35 | 7.97 | 2.43 |
| 23Q4 (17) | 0.94 | -47.19 | -29.32 | 26.33 | -20.86 | -19.23 | 3.10 | -78.46 | -65.32 | 4.96 | -58.97 | -52.22 | 5.27 | -36.66 | -28.4 | 0.87 | -44.94 | -26.27 | 0.66 | -40.54 | -21.43 | 0.11 | -8.33 | 0.0 | 15.80 | -27.42 | -25.93 | 46.48 | -6.1 | -5.37 | 62.59 | -47.42 | -27.4 | 37.41 | 296.48 | 171.24 | 28.11 | 12.44 | -3.2 |
| 23Q3 (16) | 1.78 | 0.56 | -56.9 | 33.27 | -1.16 | -11.09 | 14.39 | -1.24 | -31.74 | 12.09 | -8.69 | -47.89 | 8.32 | -5.56 | -52.51 | 1.58 | -7.6 | -62.56 | 1.11 | -5.13 | -58.11 | 0.12 | 0.0 | -20.0 | 21.77 | -4.73 | -29.32 | 49.50 | -10.0 | -12.23 | 119.04 | 8.24 | 31.02 | -19.04 | -88.69 | -308.32 | 25.00 | -6.19 | 1.34 |
| 23Q2 (15) | 1.77 | 40.48 | -50.83 | 33.66 | 10.8 | -12.18 | 14.57 | 46.73 | -34.93 | 13.24 | 28.67 | -33.63 | 8.81 | 25.5 | -38.43 | 1.71 | 46.15 | -55.47 | 1.17 | 39.29 | -48.91 | 0.12 | 9.09 | -25.0 | 22.85 | 7.58 | -16.15 | 55.00 | -4.79 | -23.83 | 109.98 | 14.04 | -2.01 | -10.09 | -383.53 | 17.1 | 26.65 | -10.06 | 12.83 |
| 23Q1 (14) | 1.26 | -5.26 | -68.58 | 30.38 | -6.81 | -17.06 | 9.93 | 11.07 | -51.8 | 10.29 | -0.87 | -55.68 | 7.02 | -4.62 | -60.18 | 1.17 | -0.85 | -73.35 | 0.84 | 0.0 | -68.18 | 0.11 | 0.0 | -26.67 | 21.24 | -0.42 | -30.99 | 57.77 | 17.61 | -21.55 | 96.44 | 11.87 | 8.69 | 3.56 | -74.19 | -68.42 | 29.63 | 2.03 | 16.88 |
| 22Q4 (13) | 1.33 | -67.8 | -23.56 | 32.60 | -12.88 | -12.32 | 8.94 | -57.59 | -48.65 | 10.38 | -55.26 | 9.26 | 7.36 | -57.99 | 29.12 | 1.18 | -72.04 | -6.35 | 0.84 | -68.3 | 3.7 | 0.11 | -26.67 | -15.38 | 21.33 | -30.75 | 15.17 | 49.12 | -12.91 | -27.23 | 86.21 | -5.12 | -52.98 | 13.79 | 50.9 | 116.55 | 29.04 | 17.71 | 3.53 |
| 22Q3 (12) | 4.13 | 14.72 | 3.77 | 37.42 | -2.37 | -2.02 | 21.08 | -5.85 | -7.22 | 23.20 | 16.29 | -0.34 | 17.52 | 22.43 | 0.86 | 4.22 | 9.9 | -5.38 | 2.65 | 15.72 | 0.0 | 0.15 | -6.25 | 0.0 | 30.80 | 13.03 | -1.47 | 56.40 | -21.89 | -20.54 | 90.86 | -19.04 | -6.91 | 9.14 | 175.09 | 281.5 | 24.67 | 4.45 | -3.48 |
| 22Q2 (11) | 3.60 | -10.22 | 13.21 | 38.33 | 4.64 | 6.12 | 22.39 | 8.69 | 10.57 | 19.95 | -14.08 | -0.84 | 14.31 | -18.83 | 2.29 | 3.84 | -12.53 | 9.71 | 2.29 | -13.26 | 11.17 | 0.16 | 6.67 | 14.29 | 27.25 | -11.47 | -4.69 | 72.21 | -1.94 | -2.59 | 112.23 | 26.49 | 11.53 | -12.17 | -208.02 | -1817.9 | 23.62 | -6.82 | -8.27 |
| 22Q1 (10) | 4.01 | 130.46 | 149.07 | 36.63 | -1.48 | 15.26 | 20.60 | 18.32 | 52.25 | 23.22 | 144.42 | 108.44 | 17.63 | 209.3 | 120.37 | 4.39 | 248.41 | 152.3 | 2.64 | 225.93 | 149.06 | 0.15 | 15.38 | 25.0 | 30.78 | 66.2 | 45.05 | 73.64 | 9.1 | -3.45 | 88.73 | -51.6 | -27.02 | 11.27 | 113.52 | 152.56 | 25.35 | -9.63 | -13.66 |
| 21Q4 (9) | 1.74 | -56.28 | -2.25 | 37.18 | -2.64 | 37.65 | 17.41 | -23.37 | 128.18 | 9.50 | -59.19 | -9.09 | 5.70 | -67.18 | -30.23 | 1.26 | -71.75 | -35.05 | 0.81 | -69.43 | -28.32 | 0.13 | -13.33 | 0.0 | 18.52 | -40.75 | -9.44 | 67.50 | -4.9 | -10.47 | 183.33 | 87.83 | 151.35 | -83.33 | -3578.17 | -409.73 | 28.05 | 9.74 | -0.95 |
| 21Q3 (8) | 3.98 | 25.16 | 36.77 | 38.19 | 5.73 | 34.38 | 22.72 | 12.2 | 101.78 | 23.28 | 15.71 | 27.84 | 17.37 | 24.16 | 16.19 | 4.46 | 27.43 | 21.53 | 2.65 | 28.64 | 39.47 | 0.15 | 7.14 | 25.0 | 31.26 | 9.34 | 7.42 | 70.98 | -4.25 | -27.97 | 97.60 | -3.01 | 58.0 | 2.40 | 477.49 | -93.73 | 25.56 | -0.74 | -0.16 |
| 21Q2 (7) | 3.18 | 97.52 | 73.77 | 36.12 | 13.66 | 29.6 | 20.25 | 49.67 | 65.71 | 20.12 | 80.61 | 49.26 | 13.99 | 74.88 | 54.76 | 3.50 | 101.15 | 60.55 | 2.06 | 94.34 | 79.13 | 0.14 | 16.67 | 16.67 | 28.59 | 34.73 | 14.64 | 74.13 | -2.81 | -30.03 | 100.63 | -17.23 | 11.02 | -0.63 | 97.04 | -106.78 | 25.75 | -12.3 | 8.06 |
| 21Q1 (6) | 1.61 | -9.55 | 483.33 | 31.78 | 17.66 | 28.87 | 13.53 | 77.33 | 673.31 | 11.14 | 6.6 | 340.09 | 8.00 | -2.08 | 251.52 | 1.74 | -10.31 | 314.81 | 1.06 | -6.19 | 453.33 | 0.12 | -7.69 | 50.0 | 21.22 | 3.77 | 58.83 | 76.27 | 1.17 | -26.76 | 121.59 | 66.7 | 140.32 | -21.44 | -179.68 | -143.92 | 29.36 | 3.67 | -16.92 |
| 20Q4 (5) | 1.78 | -38.83 | 1383.33 | 27.01 | -4.96 | 6.34 | 7.63 | -32.24 | 626.21 | 10.45 | -42.61 | 331.19 | 8.17 | -45.35 | 1802.08 | 1.94 | -47.14 | 2525.0 | 1.13 | -40.53 | 1783.33 | 0.13 | 8.33 | 62.5 | 20.45 | -29.73 | 80.34 | 75.39 | -23.49 | -27.73 | 72.94 | 18.07 | 127.62 | 26.91 | -29.61 | -60.41 | 28.32 | 10.62 | -1.36 |
| 20Q3 (4) | 2.91 | 59.02 | 0.0 | 28.42 | 1.97 | 0.0 | 11.26 | -7.86 | 0.0 | 18.21 | 35.09 | 0.0 | 14.95 | 65.38 | 0.0 | 3.67 | 68.35 | 0.0 | 1.90 | 65.22 | 0.0 | 0.12 | 0.0 | 0.0 | 29.10 | 16.68 | 0.0 | 98.54 | -6.99 | 0.0 | 61.78 | -31.85 | 0.0 | 38.22 | 308.62 | 0.0 | 25.60 | 7.43 | 0.0 |
| 20Q2 (3) | 1.83 | 535.71 | 0.0 | 27.87 | 13.02 | 0.0 | 12.22 | 617.8 | 0.0 | 13.48 | 390.52 | 0.0 | 9.04 | 271.21 | 0.0 | 2.18 | 369.14 | 0.0 | 1.15 | 483.33 | 0.0 | 0.12 | 50.0 | 0.0 | 24.94 | 86.68 | 0.0 | 105.94 | 1.74 | 0.0 | 90.65 | 79.16 | 0.0 | 9.35 | -80.83 | 0.0 | 23.83 | -32.57 | 0.0 |
| 20Q1 (2) | -0.42 | -450.0 | 0.0 | 24.66 | -2.91 | 0.0 | -2.36 | -62.76 | 0.0 | -4.64 | -2.65 | 0.0 | -5.28 | -1000.0 | 0.0 | -0.81 | -912.5 | 0.0 | -0.30 | -600.0 | 0.0 | 0.08 | 0.0 | 0.0 | 13.36 | 17.81 | 0.0 | 104.13 | -0.18 | 0.0 | 50.60 | 57.89 | 0.0 | 48.81 | -28.17 | 0.0 | 35.34 | 23.09 | 0.0 |
| 19Q4 (1) | 0.12 | 0.0 | 0.0 | 25.40 | 0.0 | 0.0 | -1.45 | 0.0 | 0.0 | -4.52 | 0.0 | 0.0 | -0.48 | 0.0 | 0.0 | -0.08 | 0.0 | 0.0 | 0.06 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | 11.34 | 0.0 | 0.0 | 104.32 | 0.0 | 0.0 | 32.04 | 0.0 | 0.0 | 67.96 | 0.0 | 0.0 | 28.71 | 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) | 5.75 | -55.7 | 31.08 | -14.97 | 10.76 | -43.4 | 9.19 | 26.02 | 10.31 | -48.06 | 7.44 | -49.42 | 5.23 | -60.32 | 3.84 | -55.61 | 0.48 | -15.79 | 20.55 | -26.58 | 46.48 | -5.37 | 104.37 | 8.98 | -4.37 | 0 | 0.50 | 1.37 | 27.25 | 7.37 |
| 2022 (9) | 12.98 | 25.29 | 36.55 | 1.53 | 19.01 | 1.33 | 7.29 | -9.12 | 19.85 | 20.96 | 14.71 | 27.14 | 13.18 | 20.81 | 8.65 | 30.27 | 0.57 | 3.64 | 27.99 | 10.94 | 49.12 | -27.23 | 95.77 | -16.21 | 4.23 | 0 | 0.49 | -2.13 | 25.38 | -6.21 |
| 2021 (8) | 10.36 | 71.24 | 36.00 | 32.21 | 18.76 | 130.18 | 8.02 | -24.82 | 16.41 | 51.52 | 11.57 | 44.81 | 10.91 | 63.81 | 6.64 | 70.69 | 0.55 | 25.0 | 25.23 | 10.56 | 67.50 | -10.47 | 114.30 | 51.98 | -14.30 | 0 | 0.50 | -5.87 | 27.06 | -1.85 |
| 2020 (7) | 6.05 | 0.33 | 27.23 | -18.76 | 8.15 | -31.4 | 10.67 | -1.59 | 10.83 | -0.91 | 7.99 | -1.6 | 6.66 | -2.35 | 3.89 | 5.14 | 0.44 | 4.76 | 22.82 | -0.95 | 75.39 | -27.73 | 75.21 | -30.78 | 24.79 | 0 | 0.53 | 0.61 | 27.57 | 9.67 |
| 2019 (6) | 6.03 | -67.3 | 33.52 | -15.46 | 11.88 | -45.7 | 10.84 | 80.17 | 10.93 | -47.4 | 8.12 | -51.29 | 6.82 | -71.38 | 3.70 | -68.05 | 0.42 | -38.24 | 23.04 | -16.16 | 104.32 | 4.25 | 108.64 | 3.18 | -8.64 | 0 | 0.53 | 1.16 | 25.14 | -5.81 |
| 2018 (5) | 18.44 | 88.74 | 39.65 | 10.66 | 21.88 | 38.39 | 6.02 | -19.5 | 20.78 | 56.36 | 16.67 | 56.67 | 23.83 | 66.18 | 11.58 | 73.09 | 0.68 | 13.33 | 27.48 | 27.64 | 100.07 | -20.8 | 105.30 | -11.48 | -5.30 | 0 | 0.52 | 0 | 26.69 | -0.11 |
| 2017 (4) | 9.77 | 102.28 | 35.83 | 8.94 | 15.81 | 75.67 | 7.47 | -19.04 | 13.29 | 80.08 | 10.64 | 78.52 | 14.34 | 118.6 | 6.69 | 100.9 | 0.60 | 22.45 | 21.53 | 20.96 | 126.35 | 2.93 | 118.95 | -2.44 | -18.95 | 0 | 0.00 | 0 | 26.72 | -0.63 |
| 2016 (3) | 4.83 | -20.82 | 32.89 | -8.23 | 9.00 | -29.63 | 9.23 | 1.54 | 7.38 | -40.15 | 5.96 | -36.39 | 6.56 | -33.74 | 3.33 | -31.62 | 0.49 | 4.26 | 17.80 | -21.62 | 122.75 | -2.55 | 121.93 | 17.51 | -21.93 | 0 | 0.00 | 0 | 26.89 | -1.21 |
| 2015 (2) | 6.10 | -33.7 | 35.84 | -6.62 | 12.79 | -32.26 | 9.09 | 25.62 | 12.33 | -36.08 | 9.37 | -37.66 | 9.90 | -44.41 | 4.87 | -41.47 | 0.47 | -9.62 | 22.71 | -18.22 | 125.96 | 3.4 | 103.76 | 6.06 | -3.71 | 0 | 0.00 | 0 | 27.22 | 6.62 |
| 2014 (1) | 9.20 | 15.58 | 38.38 | 0 | 18.88 | 0 | 7.24 | -14.71 | 19.29 | 0 | 15.03 | 0 | 17.81 | 0 | 8.32 | 0 | 0.52 | 10.64 | 27.77 | -7.25 | 121.82 | -9.14 | 97.84 | 3.41 | 2.16 | -59.86 | 0.00 | 0 | 25.53 | 2.28 |
