- 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) | 12.12 | -20.68 | 17.67 | 70.54 | 1.31 | 20.75 | 62.57 | 2.59 | 32.2 | 56.05 | -26.51 | -34.44 | 44.82 | -22.55 | -35.05 | 6.23 | -23.37 | -2.2 | 4.95 | -22.54 | 1.02 | 0.11 | 0.0 | 57.14 | 59.60 | -25.41 | -34.56 | 22.34 | -28.83 | -12.46 | 111.63 | 39.56 | 101.57 | -11.63 | -158.14 | -126.08 | 13.70 | -7.99 | -28.94 |
| 24Q2 (19) | 15.28 | 5.02 | 103.73 | 69.63 | 11.78 | 17.74 | 60.99 | 16.88 | 32.07 | 76.27 | -14.73 | -0.21 | 57.87 | -19.14 | 6.4 | 8.13 | 0.49 | 76.36 | 6.39 | -1.99 | 77.01 | 0.11 | 22.22 | 57.14 | 79.90 | -14.96 | -2.79 | 31.39 | 29.18 | -15.19 | 79.99 | 37.11 | 32.31 | 20.01 | -51.97 | -49.39 | 14.89 | -15.06 | -25.1 |
| 24Q1 (18) | 14.55 | 152.17 | 203.12 | 62.29 | -6.79 | 6.86 | 52.18 | -8.87 | 12.19 | 89.45 | 163.09 | 81.96 | 71.57 | 142.69 | 81.6 | 8.09 | 137.94 | 180.9 | 6.52 | 137.09 | 173.95 | 0.09 | 0.0 | 50.0 | 93.96 | 144.37 | 72.34 | 24.30 | -3.65 | 14.3 | 58.34 | -65.37 | -38.31 | 41.66 | 160.86 | 667.38 | 17.53 | 30.53 | -14.07 |
| 23Q4 (17) | 5.77 | -43.98 | -17.34 | 66.83 | 14.4 | 13.27 | 57.26 | 20.98 | 13.68 | 34.00 | -60.23 | -7.58 | 29.49 | -57.27 | -11.81 | 3.40 | -46.62 | -21.66 | 2.75 | -43.88 | -22.54 | 0.09 | 28.57 | -18.18 | 38.45 | -57.78 | -3.49 | 25.22 | -1.18 | 9.6 | 168.45 | 204.17 | 23.02 | -68.45 | -253.42 | -85.33 | 13.43 | -30.34 | -1.1 |
| 23Q3 (16) | 10.30 | 37.33 | -33.76 | 58.42 | -1.22 | 1.53 | 47.33 | 2.49 | -1.85 | 85.50 | 11.87 | -1.17 | 69.01 | 26.88 | 0.12 | 6.37 | 38.18 | -38.87 | 4.90 | 35.73 | -40.46 | 0.07 | 0.0 | -41.67 | 91.08 | 10.82 | 2.04 | 25.52 | -31.05 | 11.93 | 55.38 | -8.4 | -0.66 | 44.62 | 12.84 | 0.84 | 19.28 | -3.02 | 14.15 |
| 23Q2 (15) | 7.50 | 56.25 | -28.44 | 59.14 | 1.46 | 1.6 | 46.18 | -0.71 | -5.39 | 76.43 | 55.47 | 10.18 | 54.39 | 38.01 | 5.43 | 4.61 | 60.07 | -37.7 | 3.61 | 51.68 | -37.97 | 0.07 | 16.67 | -36.36 | 82.19 | 50.75 | 13.63 | 37.01 | 74.08 | 18.28 | 60.46 | -36.07 | -14.08 | 39.54 | 628.34 | 33.43 | 19.88 | -2.55 | 19.54 |
| 23Q1 (14) | 4.80 | -31.23 | -49.74 | 58.29 | -1.2 | 8.2 | 46.51 | -7.66 | 4.19 | 49.16 | 33.62 | -25.57 | 39.41 | 17.85 | -25.35 | 2.88 | -33.64 | -58.68 | 2.38 | -32.96 | -58.1 | 0.06 | -45.45 | -45.45 | 54.52 | 36.85 | -21.41 | 21.26 | -7.61 | -9.53 | 94.57 | -30.94 | 39.95 | 5.43 | 114.7 | -83.26 | 20.40 | 50.22 | 8.51 |
| 22Q4 (13) | 6.98 | -55.11 | 6.73 | 59.00 | 2.54 | 9.65 | 50.37 | 4.46 | 14.56 | 36.79 | -57.47 | -13.94 | 33.44 | -51.49 | -2.59 | 4.34 | -58.35 | -14.4 | 3.55 | -56.87 | -14.87 | 0.11 | -8.33 | -8.33 | 39.84 | -55.37 | -13.2 | 23.01 | 0.92 | 2.49 | 136.94 | 145.61 | 33.17 | -36.94 | -183.48 | -1204.5 | 13.58 | -19.6 | -13.17 |
| 22Q3 (12) | 15.55 | 48.38 | 134.89 | 57.54 | -1.15 | 5.46 | 48.22 | -1.21 | 6.33 | 86.51 | 24.71 | 85.84 | 68.93 | 33.61 | 92.11 | 10.42 | 40.81 | 97.72 | 8.23 | 41.41 | 87.47 | 0.12 | 9.09 | 0.0 | 89.26 | 23.41 | 79.53 | 22.80 | -27.13 | 4.3 | 55.75 | -20.77 | -42.78 | 44.25 | 49.31 | 1623.54 | 16.89 | 1.56 | 0.54 |
| 22Q2 (11) | 10.48 | 9.74 | 159.41 | 58.21 | 8.06 | 11.41 | 48.81 | 9.34 | 16.02 | 69.37 | 5.03 | 125.15 | 51.59 | -2.27 | 99.81 | 7.40 | 6.17 | 125.61 | 5.82 | 2.46 | 111.64 | 0.11 | 0.0 | 0.0 | 72.33 | 4.27 | 109.29 | 31.29 | 33.15 | 65.21 | 70.36 | 4.13 | -48.49 | 29.64 | -8.6 | 180.97 | 16.63 | -11.54 | -1.48 |
| 22Q1 (10) | 9.55 | 46.02 | 109.89 | 53.87 | 0.11 | 7.57 | 44.64 | 1.52 | 14.81 | 66.05 | 54.5 | 55.7 | 52.79 | 53.77 | 55.54 | 6.97 | 37.48 | 82.46 | 5.68 | 36.21 | 78.06 | 0.11 | -8.33 | 22.22 | 69.37 | 51.13 | 48.39 | 23.50 | 4.68 | 15.71 | 67.57 | -34.29 | -26.16 | 32.43 | 1245.2 | 290.54 | 18.80 | 20.2 | -1.88 |
| 21Q4 (9) | 6.54 | -1.21 | 155.47 | 53.81 | -1.37 | 10.11 | 43.97 | -3.04 | 14.86 | 42.75 | -8.16 | 79.32 | 34.33 | -4.32 | 77.97 | 5.07 | -3.8 | 128.38 | 4.17 | -5.01 | 121.81 | 0.12 | 0.0 | 20.0 | 45.90 | -7.68 | 63.4 | 22.45 | 2.7 | 10.75 | 102.83 | 5.54 | -36.05 | -2.83 | -210.29 | 95.32 | 15.64 | -6.9 | -2.62 |
| 21Q3 (8) | 6.62 | 63.86 | 112.86 | 54.56 | 4.42 | 7.21 | 45.35 | 7.8 | 12.34 | 46.55 | 51.09 | 51.33 | 35.88 | 38.96 | 45.03 | 5.27 | 60.67 | 90.94 | 4.39 | 59.64 | 90.87 | 0.12 | 9.09 | 33.33 | 49.72 | 43.87 | 41.81 | 21.86 | 15.42 | 24.49 | 97.43 | -28.67 | -25.92 | 2.57 | 107.01 | 108.22 | 16.80 | -0.47 | 2.88 |
| 21Q2 (7) | 4.04 | -11.21 | 130.86 | 52.25 | 4.33 | -7.0 | 42.07 | 8.2 | -6.14 | 30.81 | -27.37 | 20.82 | 25.82 | -23.92 | 82.34 | 3.28 | -14.14 | 114.38 | 2.75 | -13.79 | 113.18 | 0.11 | 22.22 | 22.22 | 34.56 | -26.07 | 15.66 | 18.94 | -6.75 | -22.15 | 136.60 | 49.27 | -22.39 | -36.60 | -540.84 | 51.84 | 16.88 | -11.9 | 4.71 |
| 21Q1 (6) | 4.55 | 77.73 | -5.21 | 50.08 | 2.48 | -7.02 | 38.88 | 1.57 | -3.11 | 42.42 | 77.94 | -13.89 | 33.94 | 75.95 | -13.88 | 3.82 | 72.07 | -8.61 | 3.19 | 69.68 | -10.39 | 0.09 | -10.0 | 0.0 | 46.75 | 66.43 | -12.88 | 20.31 | 0.2 | 15.79 | 91.51 | -43.09 | 12.33 | 8.30 | 113.73 | -55.2 | 19.16 | 19.3 | -0.93 |
| 20Q4 (5) | 2.56 | -17.68 | -23.35 | 48.87 | -3.97 | -12.31 | 38.28 | -5.18 | -14.69 | 23.84 | -22.5 | -16.32 | 19.29 | -22.03 | -16.64 | 2.22 | -19.57 | -26.25 | 1.88 | -18.26 | -24.19 | 0.10 | 11.11 | -9.09 | 28.09 | -19.88 | -12.36 | 20.27 | 15.43 | 9.04 | 160.80 | 22.26 | 2.06 | -60.47 | -93.49 | -5.07 | 16.06 | -1.65 | 7.57 |
| 20Q3 (4) | 3.11 | 77.71 | 0.0 | 50.89 | -9.42 | 0.0 | 40.37 | -9.93 | 0.0 | 30.76 | 20.63 | 0.0 | 24.74 | 74.72 | 0.0 | 2.76 | 80.39 | 0.0 | 2.30 | 78.29 | 0.0 | 0.09 | 0.0 | 0.0 | 35.06 | 17.34 | 0.0 | 17.56 | -27.83 | 0.0 | 131.52 | -25.27 | 0.0 | -31.25 | 58.88 | 0.0 | 16.33 | 1.3 | 0.0 |
| 20Q2 (3) | 1.75 | -63.54 | 0.0 | 56.18 | 4.31 | 0.0 | 44.82 | 11.69 | 0.0 | 25.50 | -48.23 | 0.0 | 14.16 | -64.07 | 0.0 | 1.53 | -63.4 | 0.0 | 1.29 | -63.76 | 0.0 | 0.09 | 0.0 | 0.0 | 29.88 | -44.32 | 0.0 | 24.33 | 38.71 | 0.0 | 176.00 | 116.03 | 0.0 | -76.00 | -510.11 | 0.0 | 16.12 | -16.65 | 0.0 |
| 20Q1 (2) | 4.80 | 43.71 | 0.0 | 53.86 | -3.36 | 0.0 | 40.13 | -10.56 | 0.0 | 49.26 | 72.9 | 0.0 | 39.41 | 70.31 | 0.0 | 4.18 | 38.87 | 0.0 | 3.56 | 43.55 | 0.0 | 0.09 | -18.18 | 0.0 | 53.66 | 67.43 | 0.0 | 17.54 | -5.65 | 0.0 | 81.47 | -48.29 | 0.0 | 18.53 | 132.2 | 0.0 | 19.34 | 29.54 | 0.0 |
| 19Q4 (1) | 3.34 | 0.0 | 0.0 | 55.73 | 0.0 | 0.0 | 44.87 | 0.0 | 0.0 | 28.49 | 0.0 | 0.0 | 23.14 | 0.0 | 0.0 | 3.01 | 0.0 | 0.0 | 2.48 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 32.05 | 0.0 | 0.0 | 18.59 | 0.0 | 0.0 | 157.54 | 0.0 | 0.0 | -57.54 | 0.0 | 0.0 | 14.93 | 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) | 28.38 | -33.32 | 61.28 | 7.0 | 50.12 | 4.16 | 4.65 | 62.64 | 59.44 | -8.62 | 46.93 | -9.77 | 16.86 | -41.3 | 13.71 | -41.54 | 0.29 | -35.56 | 64.64 | -5.02 | 25.22 | 9.6 | 84.30 | 13.95 | 15.70 | -39.69 | 0.01 | 40.2 | 17.75 | 8.23 |
| 2022 (9) | 42.56 | 95.68 | 57.27 | 8.26 | 48.12 | 12.22 | 2.86 | -14.46 | 65.05 | 58.93 | 52.01 | 59.15 | 28.72 | 64.4 | 23.45 | 62.4 | 0.45 | 2.27 | 68.06 | 53.05 | 23.01 | 2.49 | 73.98 | -29.39 | 26.04 | 0 | 0.01 | -46.51 | 16.40 | -3.3 |
| 2021 (8) | 21.75 | 77.99 | 52.90 | 0.99 | 42.88 | 4.97 | 3.34 | -17.27 | 40.93 | 27.43 | 32.68 | 34.71 | 17.47 | 63.88 | 14.44 | 60.44 | 0.44 | 18.92 | 44.47 | 22.0 | 22.45 | 10.75 | 104.78 | -17.65 | -4.78 | 0 | 0.02 | -13.34 | 16.96 | 0.18 |
| 2020 (7) | 12.22 | -25.26 | 52.38 | -2.55 | 40.85 | -1.3 | 4.04 | 12.43 | 32.12 | -22.75 | 24.26 | -24.19 | 10.66 | -28.89 | 9.00 | -31.3 | 0.37 | -9.76 | 36.45 | -19.77 | 20.27 | 9.04 | 127.24 | 27.87 | -27.17 | 0 | 0.02 | -4.94 | 16.93 | 0.24 |
| 2019 (6) | 16.35 | -12.29 | 53.75 | 2.48 | 41.39 | 5.61 | 3.59 | 13.08 | 41.58 | -15.07 | 32.00 | -20.08 | 14.99 | -20.44 | 13.10 | -22.21 | 0.41 | -2.38 | 45.43 | -12.9 | 18.59 | 65.39 | 99.51 | 24.35 | 0.49 | -97.53 | 0.02 | 0 | 16.89 | -2.26 |
| 2018 (5) | 18.64 | 95.39 | 52.45 | -1.65 | 39.19 | -3.26 | 3.18 | -6.66 | 48.96 | 64.46 | 40.04 | 81.09 | 18.84 | 80.81 | 16.84 | 83.44 | 0.42 | 0.0 | 52.16 | 56.97 | 11.24 | -10.86 | 80.02 | -41.18 | 19.98 | 0 | 0.00 | 0 | 17.28 | 3.16 |
| 2017 (4) | 9.54 | -42.15 | 53.33 | -6.64 | 40.51 | -10.65 | 3.41 | 18.82 | 29.77 | -32.62 | 22.11 | -37.17 | 10.42 | -44.54 | 9.18 | -44.02 | 0.42 | -10.64 | 33.23 | -29.43 | 12.61 | -13.27 | 136.03 | 32.54 | -36.03 | 0 | 0.00 | 0 | 16.75 | 4.69 |
| 2016 (3) | 16.49 | -18.29 | 57.12 | -0.54 | 45.34 | 0.8 | 2.87 | -3.07 | 44.18 | -16.44 | 35.19 | -17.68 | 18.79 | -26.34 | 16.40 | -24.7 | 0.47 | -7.84 | 47.09 | -15.68 | 14.54 | -0.34 | 102.64 | 20.59 | -2.58 | 0 | 0.00 | 0 | 16.00 | 5.96 |
| 2015 (2) | 20.18 | 6.32 | 57.43 | 4.68 | 44.98 | 7.1 | 2.96 | -8.25 | 52.87 | 4.78 | 42.75 | 1.21 | 25.51 | -9.06 | 21.78 | -6.24 | 0.51 | -7.27 | 55.85 | 3.66 | 14.59 | -27.23 | 85.11 | 2.24 | 14.93 | -10.88 | 0.00 | 0 | 15.10 | 1.21 |
| 2014 (1) | 18.98 | 27.47 | 54.86 | 0 | 42.00 | 0 | 3.22 | -16.78 | 50.46 | 0 | 42.24 | 0 | 28.05 | 0 | 23.23 | 0 | 0.55 | -1.79 | 53.88 | 10.57 | 20.05 | -10.09 | 83.25 | -6.85 | 16.75 | 57.54 | 0.00 | 0 | 14.92 | 2.54 |
