- 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) | 0.61 | -37.76 | -7.58 | 47.42 | -14.71 | -12.36 | 14.95 | -33.67 | -9.56 | 13.76 | -45.42 | -32.22 | 10.42 | -45.73 | -34.51 | 2.42 | -38.89 | -12.95 | 1.68 | -35.88 | -14.29 | 0.16 | 23.08 | 33.33 | 20.38 | -38.85 | -29.85 | 47.77 | -3.38 | 7.25 | 110.34 | 23.8 | 32.41 | -10.34 | -195.17 | -151.72 | 22.19 | -11.45 | -19.22 |
| 24Q2 (19) | 0.98 | 46.27 | 390.0 | 55.60 | 6.03 | 21.8 | 22.54 | 32.28 | 270.11 | 25.21 | 18.41 | 285.47 | 19.20 | 16.79 | 280.2 | 3.96 | 46.67 | 365.88 | 2.62 | 56.89 | 329.51 | 0.13 | 30.0 | 18.18 | 33.33 | 6.52 | 112.16 | 49.44 | -18.82 | 8.14 | 89.13 | 10.52 | -10.87 | 10.87 | -43.84 | -2.17 | 25.06 | -12.9 | -13.59 |
| 24Q1 (18) | 0.67 | -48.46 | 570.0 | 52.44 | -4.81 | 6.61 | 17.04 | -35.14 | 249.9 | 21.29 | -21.15 | 255.43 | 16.44 | -26.71 | 487.14 | 2.70 | -48.37 | 542.86 | 1.67 | -49.24 | 421.87 | 0.10 | -28.57 | 0.0 | 31.29 | -7.48 | 89.18 | 60.90 | -21.04 | 24.26 | 80.65 | -16.37 | 7.53 | 19.35 | 441.94 | 54.84 | 28.77 | 31.25 | -16.8 |
| 23Q4 (17) | 1.30 | 96.97 | 91.18 | 55.09 | 1.81 | 25.2 | 26.27 | 58.92 | 77.74 | 27.00 | 33.0 | 92.86 | 22.43 | 40.98 | 88.65 | 5.23 | 88.13 | 86.79 | 3.29 | 67.86 | 68.72 | 0.14 | 16.67 | -12.5 | 33.82 | 16.42 | 61.2 | 77.13 | 73.17 | 86.17 | 96.43 | 15.71 | -6.79 | 3.57 | -82.14 | 151.79 | 21.92 | -20.2 | -0.99 |
| 23Q3 (16) | 0.66 | 230.0 | -4.35 | 54.11 | 18.53 | 1.9 | 16.53 | 171.43 | 7.97 | 20.30 | 210.4 | -9.01 | 15.91 | 215.05 | -9.14 | 2.78 | 227.06 | -4.47 | 1.96 | 221.31 | 4.26 | 0.12 | 9.09 | 20.0 | 29.05 | 84.91 | -10.94 | 44.54 | -2.58 | -13.56 | 83.33 | -16.67 | 17.42 | 20.00 | 80.0 | -38.0 | 27.47 | -5.28 | -13.32 |
| 23Q2 (15) | 0.20 | 100.0 | 81.82 | 45.65 | -7.2 | 13.67 | 6.09 | 25.05 | -31.42 | 6.54 | 9.18 | -6.03 | 5.05 | 80.36 | 87.73 | 0.85 | 102.38 | 93.18 | 0.61 | 90.62 | 84.85 | 0.11 | 10.0 | 10.0 | 15.71 | -5.02 | -10.79 | 45.72 | -6.71 | -32.7 | 100.00 | 33.33 | -23.08 | 11.11 | -11.11 | 137.04 | 29.00 | -16.14 | 20.23 |
| 23Q1 (14) | 0.10 | -85.29 | -88.1 | 49.19 | 11.8 | 14.02 | 4.87 | -67.05 | 2964.71 | 5.99 | -57.21 | -82.17 | 2.80 | -76.45 | -89.23 | 0.42 | -85.0 | -87.93 | 0.32 | -83.59 | -85.05 | 0.10 | -37.5 | 25.0 | 16.54 | -21.16 | -63.8 | 49.01 | 18.3 | -21.55 | 75.00 | -27.5 | 0 | 12.50 | 281.25 | -87.5 | 34.58 | 56.19 | -0.09 |
| 22Q4 (13) | 0.68 | -1.45 | -40.87 | 44.00 | -17.14 | -23.32 | 14.78 | -3.46 | -45.3 | 14.00 | -37.25 | -53.16 | 11.89 | -32.1 | -49.98 | 2.80 | -3.78 | -43.43 | 1.95 | 3.72 | -32.29 | 0.16 | 60.0 | 33.33 | 20.98 | -35.68 | -45.01 | 41.43 | -19.6 | -42.82 | 103.45 | 45.77 | 14.45 | -6.90 | -121.38 | -171.72 | 22.14 | -30.14 | 3.12 |
| 22Q3 (12) | 0.69 | 527.27 | 15.0 | 53.10 | 32.22 | 4.8 | 15.31 | 72.41 | -18.13 | 22.31 | 220.55 | 22.05 | 17.51 | 550.93 | 17.99 | 2.91 | 561.36 | 11.49 | 1.88 | 469.7 | 25.33 | 0.10 | 0.0 | 0.0 | 32.62 | 85.24 | 14.58 | 51.53 | -24.14 | -35.02 | 70.97 | -45.41 | -31.66 | 32.26 | 207.53 | 938.71 | 31.69 | 31.38 | 19.05 |
| 22Q2 (11) | 0.11 | -86.9 | -81.67 | 40.16 | -6.91 | -23.56 | 8.88 | 5323.53 | -55.08 | 6.96 | -79.28 | -61.93 | 2.69 | -89.65 | -83.12 | 0.44 | -87.36 | -83.46 | 0.33 | -84.58 | -77.7 | 0.10 | 25.0 | 11.11 | 17.61 | -61.46 | -40.12 | 67.93 | 8.74 | -22.45 | 130.00 | 0 | 20.37 | -30.00 | -130.0 | -275.0 | 24.12 | -30.31 | -12.39 |
| 22Q1 (10) | 0.84 | -26.96 | 170.97 | 43.14 | -24.82 | 10.67 | -0.17 | -100.63 | -101.45 | 33.59 | 12.38 | 223.92 | 26.00 | 9.38 | 235.48 | 3.48 | -29.7 | 148.57 | 2.14 | -25.69 | 167.5 | 0.08 | -33.33 | -11.11 | 45.69 | 19.76 | 119.35 | 62.47 | -13.78 | -30.96 | 0.00 | -100.0 | -100.0 | 100.00 | 940.0 | 850.0 | 34.61 | 61.2 | 49.44 |
| 21Q4 (9) | 1.15 | 91.67 | 219.44 | 57.38 | 13.24 | 86.0 | 27.02 | 44.49 | 274.76 | 29.89 | 63.51 | 184.94 | 23.77 | 60.18 | 178.01 | 4.95 | 89.66 | 198.19 | 2.88 | 92.0 | 213.04 | 0.12 | 20.0 | 20.0 | 38.15 | 34.0 | 75.73 | 72.45 | -8.64 | -24.06 | 90.38 | -12.96 | 31.47 | 9.62 | 350.0 | -69.23 | 21.47 | -19.35 | 64.14 |
| 21Q3 (8) | 0.60 | 0.0 | 3100.0 | 50.67 | -3.56 | 25.83 | 18.70 | -5.41 | 484.38 | 18.28 | 0.0 | 460.55 | 14.84 | -6.9 | 1748.89 | 2.61 | -1.88 | 2472.73 | 1.50 | 1.35 | 7400.0 | 0.10 | 11.11 | 66.67 | 28.47 | -3.2 | 210.13 | 79.30 | -9.46 | -21.74 | 103.85 | -3.85 | 273.08 | -3.85 | 51.92 | -102.4 | 26.62 | -3.31 | -21.22 |
| 21Q2 (7) | 0.60 | 93.55 | 152.17 | 52.54 | 34.79 | 156.79 | 19.77 | 68.54 | 169.47 | 18.28 | 76.28 | 131.62 | 15.94 | 105.68 | 133.43 | 2.66 | 90.0 | 152.57 | 1.48 | 85.0 | 165.49 | 0.09 | 0.0 | 80.0 | 29.41 | 41.19 | 174.4 | 87.59 | -3.2 | -22.49 | 108.00 | -4.71 | 116.0 | -8.00 | 40.0 | -116.0 | 27.53 | 18.87 | 0 |
| 21Q1 (6) | 0.31 | -13.89 | 148.44 | 38.98 | 26.35 | 103.23 | 11.73 | 62.69 | 167.8 | 10.37 | -1.14 | 151.16 | 7.75 | -9.36 | 144.69 | 1.40 | -15.66 | 153.03 | 0.80 | -13.04 | 167.23 | 0.09 | -10.0 | 12.5 | 20.83 | -4.05 | 787.46 | 90.49 | -5.16 | -25.91 | 113.33 | 64.85 | 33.04 | -13.33 | -142.67 | -190.0 | 23.16 | 77.06 | -16.66 |
| 20Q4 (5) | 0.36 | 1900.0 | 500.0 | 30.85 | -23.39 | -11.5 | 7.21 | 125.31 | 47.14 | 10.49 | 306.9 | 608.78 | 8.55 | 1050.0 | 466.23 | 1.66 | 1609.09 | 591.67 | 0.92 | 4500.0 | 268.0 | 0.10 | 66.67 | 11.11 | 21.71 | 136.49 | 49.93 | 95.41 | -5.84 | 15.51 | 68.75 | 214.58 | -80.36 | 31.25 | -80.47 | 112.5 | 13.08 | -61.29 | -43.72 |
| 20Q3 (4) | -0.02 | 98.26 | 0.0 | 40.27 | 96.82 | 0.0 | 3.20 | 111.24 | 0.0 | -5.07 | 91.23 | 0.0 | -0.90 | 98.11 | 0.0 | -0.11 | 97.83 | 0.0 | 0.02 | 100.88 | 0.0 | 0.06 | 20.0 | 0.0 | 9.18 | 123.22 | 0.0 | 101.33 | -10.34 | 0.0 | -60.00 | -220.0 | 0.0 | 160.00 | 220.0 | 0.0 | 33.79 | 0 | 0.0 |
| 20Q2 (3) | -1.15 | -79.69 | 0.0 | 20.46 | 6.67 | 0.0 | -28.46 | -64.51 | 0.0 | -57.81 | -185.2 | 0.0 | -47.68 | -174.97 | 0.0 | -5.06 | -91.67 | 0.0 | -2.26 | -89.92 | 0.0 | 0.05 | -37.5 | 0.0 | -39.53 | -1204.62 | 0.0 | 113.01 | -7.48 | 0.0 | 50.00 | -41.3 | 0.0 | 50.00 | 237.5 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | -0.64 | -1166.67 | 0.0 | 19.18 | -44.98 | 0.0 | -17.30 | -453.06 | 0.0 | -20.27 | -1469.59 | 0.0 | -17.34 | -1248.34 | 0.0 | -2.64 | -1200.0 | 0.0 | -1.19 | -576.0 | 0.0 | 0.08 | -11.11 | 0.0 | -3.03 | -120.93 | 0.0 | 122.14 | 47.87 | 0.0 | 85.19 | -75.66 | 0.0 | 14.81 | 105.93 | 0.0 | 27.79 | 19.58 | 0.0 |
| 19Q4 (1) | 0.06 | 0.0 | 0.0 | 34.86 | 0.0 | 0.0 | 4.90 | 0.0 | 0.0 | 1.48 | 0.0 | 0.0 | 1.51 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 14.48 | 0.0 | 0.0 | 82.60 | 0.0 | 0.0 | 350.00 | 0.0 | 0.0 | -250.00 | 0.0 | 0.0 | 23.24 | 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) | 2.25 | -3.02 | 51.53 | 14.38 | 15.04 | 41.35 | 4.02 | -16.29 | 16.51 | -8.53 | 12.96 | -5.75 | 8.98 | -6.36 | 5.77 | -8.85 | 0.43 | -4.44 | 25.24 | -8.72 | 77.13 | 86.17 | 91.26 | 55.43 | 8.74 | -78.83 | 11.53 | -32.35 | 27.42 | 0.7 |
| 2022 (9) | 2.32 | -12.78 | 45.05 | -10.28 | 10.64 | -45.91 | 4.80 | 6.16 | 18.05 | -8.51 | 13.75 | -13.85 | 9.59 | -17.26 | 6.33 | -4.09 | 0.45 | 12.5 | 27.65 | -6.75 | 41.43 | -42.82 | 58.72 | -40.78 | 41.28 | 0 | 17.04 | 5.56 | 27.23 | 11.14 |
| 2021 (8) | 2.66 | 0 | 50.21 | 81.85 | 19.67 | 0 | 4.52 | -41.21 | 19.73 | 0 | 15.96 | 0 | 11.59 | 0 | 6.60 | 0 | 0.40 | 33.33 | 29.65 | 3388.24 | 72.45 | -24.06 | 99.15 | 98.31 | 0.00 | 0 | 16.14 | -4.91 | 24.50 | -6.42 |
| 2020 (7) | -1.45 | 0 | 27.61 | -29.42 | -7.11 | 0 | 7.69 | -27.16 | -14.00 | 0 | -11.07 | 0 | -6.18 | 0 | -2.93 | 0 | 0.30 | -21.05 | 0.85 | -94.74 | 95.41 | 15.51 | 50.00 | -71.79 | 48.48 | 0 | 16.98 | 9040.2 | 26.18 | -3.79 |
| 2019 (6) | 0.56 | -78.46 | 39.12 | 5.1 | 6.49 | -35.87 | 10.56 | 102.5 | 3.60 | -71.52 | 3.38 | -64.79 | 2.21 | -76.81 | 1.75 | -68.69 | 0.38 | -30.91 | 16.17 | -14.08 | 82.60 | 29.16 | 177.27 | 121.09 | -81.82 | 0 | 0.19 | -41.11 | 27.21 | 5.55 |
| 2018 (5) | 2.60 | -16.4 | 37.22 | -17.87 | 10.12 | -35.66 | 5.22 | 4.58 | 12.64 | -20.55 | 9.60 | -25.23 | 9.53 | -26.52 | 5.59 | -20.82 | 0.55 | 3.77 | 18.82 | -13.95 | 63.95 | -35.75 | 80.18 | -19.17 | 19.82 | 2357.66 | 0.32 | 0 | 25.78 | -9.48 |
| 2017 (4) | 3.11 | 0.0 | 45.32 | 1.16 | 15.73 | -1.5 | 4.99 | 8.18 | 15.91 | 9.57 | 12.84 | 18.89 | 12.97 | 3.02 | 7.06 | -4.34 | 0.53 | -18.46 | 21.87 | 9.46 | 99.53 | 18.02 | 99.19 | -9.62 | 0.81 | 0 | 0.00 | 0 | 28.48 | 1.82 |
| 2016 (3) | 3.11 | -40.99 | 44.80 | -16.71 | 15.97 | -30.54 | 4.61 | -2.24 | 14.52 | -38.4 | 10.80 | -40.76 | 12.59 | -41.41 | 7.38 | -39.56 | 0.65 | 0.0 | 19.98 | -31.08 | 84.33 | 17.96 | 109.76 | 12.4 | -9.76 | 0 | 0.00 | 0 | 27.97 | -0.57 |
| 2015 (2) | 5.27 | -11.28 | 53.79 | -14.55 | 22.99 | -18.71 | 4.72 | 61.22 | 23.57 | -20.18 | 18.23 | -22.98 | 21.49 | -27.08 | 12.21 | -25.64 | 0.65 | -5.8 | 28.99 | -11.4 | 71.49 | -22.56 | 97.65 | 2.06 | 2.35 | -45.55 | 0.00 | 0 | 28.13 | -6.45 |
| 2014 (1) | 5.94 | 48.5 | 62.95 | 0 | 28.28 | 0 | 2.93 | -9.08 | 29.53 | 0 | 23.67 | 0 | 29.47 | 0 | 16.42 | 0 | 0.69 | -4.17 | 32.72 | 4.3 | 92.32 | 43.85 | 95.68 | -0.42 | 4.32 | 10.19 | 0.00 | 0 | 30.07 | 24.77 |
