- 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) | 1.33 | -17.9 | -16.88 | 19.81 | -5.58 | -4.71 | 7.76 | -23.32 | -15.65 | 8.44 | -22.92 | -12.17 | 7.04 | -9.97 | -12.55 | 4.24 | -20.0 | -25.35 | 1.84 | -21.03 | -21.37 | 0.24 | -14.29 | -11.11 | 11.43 | -15.71 | -7.6 | 145.51 | -3.62 | -2.07 | 92.02 | -0.38 | -3.91 | 7.98 | 4.63 | 88.22 | 11.10 | 7.45 | 2.49 |
| 24Q2 (19) | 1.62 | -7.43 | -43.55 | 20.98 | 4.07 | -2.65 | 10.12 | 0.2 | -6.56 | 10.95 | 2.15 | -39.84 | 7.82 | -9.6 | -43.82 | 5.30 | -4.33 | -51.2 | 2.33 | -4.9 | -44.52 | 0.28 | 3.7 | -3.45 | 13.56 | 0.82 | -34.93 | 150.98 | 14.92 | -10.59 | 92.37 | -1.91 | 55.26 | 7.63 | 30.95 | -81.17 | 10.33 | 3.51 | -1.99 |
| 24Q1 (18) | 1.75 | -1.13 | 2.34 | 20.16 | 0.3 | -2.47 | 10.10 | 42.45 | -4.63 | 10.72 | 4.28 | -6.62 | 8.65 | -10.55 | -8.17 | 5.54 | -5.14 | -19.36 | 2.45 | -2.39 | -7.55 | 0.27 | 12.5 | 0.0 | 13.45 | 0.45 | -6.98 | 131.38 | -10.76 | -21.22 | 94.18 | 36.41 | 2.06 | 5.82 | -81.19 | -24.64 | 9.98 | -32.06 | 0.2 |
| 23Q4 (17) | 1.77 | 10.62 | 164.18 | 20.10 | -3.32 | 12.23 | 7.09 | -22.93 | 52.47 | 10.28 | 6.97 | 132.58 | 9.67 | 20.12 | 112.06 | 5.84 | 2.82 | 98.64 | 2.51 | 7.26 | 112.71 | 0.24 | -11.11 | 4.35 | 13.39 | 8.25 | 69.92 | 147.22 | -0.92 | -19.1 | 69.04 | -27.91 | -34.46 | 30.96 | 630.37 | 700.04 | 14.69 | 35.64 | 23.86 |
| 23Q3 (16) | 1.60 | -44.25 | 36.75 | 20.79 | -3.53 | 8.11 | 9.20 | -15.05 | 22.83 | 9.61 | -47.2 | 13.19 | 8.05 | -42.17 | 13.86 | 5.68 | -47.7 | 3.09 | 2.34 | -44.29 | 11.96 | 0.27 | -6.9 | -3.57 | 12.37 | -40.64 | 8.22 | 148.59 | -12.0 | -15.89 | 95.76 | 60.96 | 8.51 | 4.24 | -89.53 | -63.67 | 10.83 | 2.75 | 7.65 |
| 23Q2 (15) | 2.87 | 67.84 | 241.67 | 21.55 | 4.26 | 7.11 | 10.83 | 2.27 | 48.56 | 18.20 | 58.54 | 114.62 | 13.92 | 47.77 | 123.43 | 10.86 | 58.08 | 154.93 | 4.20 | 58.49 | 157.67 | 0.29 | 7.41 | 16.0 | 20.84 | 44.12 | 78.42 | 168.86 | 1.25 | -8.52 | 59.49 | -35.52 | -30.79 | 40.51 | 424.19 | 188.47 | 10.54 | 5.82 | -6.56 |
| 23Q1 (14) | 1.71 | 155.22 | 36.8 | 20.67 | 15.41 | 7.66 | 10.59 | 127.74 | 42.53 | 11.48 | 159.73 | 6.79 | 9.42 | 106.58 | -0.63 | 6.87 | 133.67 | 14.12 | 2.65 | 124.58 | 15.72 | 0.27 | 17.39 | 17.39 | 14.46 | 83.5 | 1.47 | 166.77 | -8.35 | -1.26 | 92.27 | -12.4 | 33.57 | 7.73 | 249.75 | -75.01 | 9.96 | -16.02 | -11.7 |
| 22Q4 (13) | 0.67 | -42.74 | 42.55 | 17.91 | -6.86 | -2.4 | 4.65 | -37.92 | 20.47 | 4.42 | -47.94 | 14.21 | 4.56 | -35.5 | 28.09 | 2.94 | -46.64 | 24.05 | 1.18 | -43.54 | 25.53 | 0.23 | -17.86 | -4.17 | 7.88 | -31.06 | 6.06 | 181.97 | 3.0 | 3.01 | 105.34 | 19.36 | 5.34 | -5.16 | -144.22 | -2318.86 | 11.86 | 17.89 | 10.33 |
| 22Q3 (12) | 1.17 | 39.29 | 112.73 | 19.23 | -4.42 | 4.97 | 7.49 | 2.74 | 48.61 | 8.49 | 0.12 | 47.91 | 7.07 | 13.48 | 59.95 | 5.51 | 29.34 | 105.6 | 2.09 | 28.22 | 95.33 | 0.28 | 12.0 | 27.27 | 11.43 | -2.14 | 18.45 | 176.67 | -4.29 | -0.19 | 88.25 | 2.67 | 0.42 | 11.67 | -16.9 | -3.73 | 10.06 | -10.82 | -18.08 |
| 22Q2 (11) | 0.84 | -32.8 | 55.56 | 20.12 | 4.79 | 5.84 | 7.29 | -1.88 | 34.25 | 8.48 | -21.12 | 55.03 | 6.23 | -34.28 | 28.99 | 4.26 | -29.24 | 48.43 | 1.63 | -28.82 | 40.52 | 0.25 | 8.7 | 13.64 | 11.68 | -18.04 | 24.12 | 184.58 | 9.29 | 10.16 | 85.96 | 24.43 | -13.42 | 14.04 | -54.58 | 1851.8 | 11.28 | 0.0 | -10.12 |
| 22Q1 (10) | 1.25 | 165.96 | 68.92 | 19.20 | 4.63 | -7.11 | 7.43 | 92.49 | 3.05 | 10.75 | 177.78 | 40.89 | 9.48 | 166.29 | 52.66 | 6.02 | 154.01 | 59.26 | 2.29 | 143.62 | 54.73 | 0.23 | -4.17 | 0.0 | 14.25 | 91.79 | 21.38 | 168.89 | -4.39 | 1.37 | 69.08 | -30.92 | -26.88 | 30.92 | 13194.17 | 460.18 | 11.28 | 4.93 | -15.19 |
| 21Q4 (9) | 0.47 | -14.55 | 113.64 | 18.35 | 0.16 | 2.06 | 3.86 | -23.41 | 54.4 | 3.87 | -32.58 | 54.8 | 3.56 | -19.46 | 93.48 | 2.37 | -11.57 | 69.29 | 0.94 | -12.15 | 54.1 | 0.24 | 9.09 | -11.11 | 7.43 | -23.01 | 27.23 | 176.65 | -0.2 | 1.54 | 100.00 | 13.79 | 0.0 | 0.23 | -98.08 | 0 | 10.75 | -12.46 | -18.19 |
| 21Q3 (8) | 0.55 | 1.85 | -40.22 | 18.32 | -3.63 | -11.11 | 5.04 | -7.18 | -34.72 | 5.74 | 4.94 | -34.85 | 4.42 | -8.49 | -34.81 | 2.68 | -6.62 | -47.35 | 1.07 | -7.76 | -43.98 | 0.22 | 0.0 | -18.52 | 9.65 | 2.55 | -21.67 | 177.00 | 5.64 | -0.9 | 87.88 | -11.48 | 0.12 | 12.12 | 1584.85 | -1.66 | 12.28 | -2.15 | 17.96 |
| 21Q2 (7) | 0.54 | -27.03 | 8.0 | 19.01 | -8.03 | 0.42 | 5.43 | -24.69 | 7.1 | 5.47 | -28.31 | -1.97 | 4.83 | -22.22 | 0.84 | 2.87 | -24.07 | -2.38 | 1.16 | -21.62 | 0.0 | 0.22 | -4.35 | 0.0 | 9.41 | -19.85 | -5.81 | 167.55 | 0.56 | -9.4 | 99.28 | 5.08 | 9.14 | 0.72 | -86.96 | -92.04 | 12.55 | -5.64 | 0 |
| 21Q1 (6) | 0.74 | 236.36 | -2.63 | 20.67 | 14.96 | 8.5 | 7.21 | 188.4 | 88.25 | 7.63 | 205.2 | -8.18 | 6.21 | 237.5 | -18.18 | 3.78 | 170.0 | -7.35 | 1.48 | 142.62 | -8.64 | 0.23 | -14.81 | 15.0 | 11.74 | 101.03 | -10.99 | 166.61 | -4.23 | -4.19 | 94.48 | -5.52 | 104.71 | 5.52 | 0 | -89.78 | 13.30 | 1.22 | 0 |
| 20Q4 (5) | 0.22 | -76.09 | 269.23 | 17.98 | -12.76 | 0.62 | 2.50 | -67.62 | 265.56 | 2.50 | -71.62 | 212.61 | 1.84 | -72.86 | 187.2 | 1.40 | -72.5 | 230.84 | 0.61 | -68.06 | 317.86 | 0.27 | 0.0 | 42.11 | 5.84 | -52.6 | 129.92 | 173.97 | -2.6 | 2.44 | 100.00 | 13.93 | 47.46 | 0.00 | -100.0 | -100.0 | 13.14 | 26.22 | -15.72 |
| 20Q3 (4) | 0.92 | 84.0 | 0.0 | 20.61 | 8.87 | 0.0 | 7.72 | 52.27 | 0.0 | 8.81 | 57.89 | 0.0 | 6.78 | 41.54 | 0.0 | 5.09 | 73.13 | 0.0 | 1.91 | 64.66 | 0.0 | 0.27 | 22.73 | 0.0 | 12.32 | 23.32 | 0.0 | 178.61 | -3.42 | 0.0 | 87.77 | -3.51 | 0.0 | 12.33 | 36.39 | 0.0 | 10.41 | 0 | 0.0 |
| 20Q2 (3) | 0.50 | -34.21 | 0.0 | 18.93 | -0.63 | 0.0 | 5.07 | 32.38 | 0.0 | 5.58 | -32.85 | 0.0 | 4.79 | -36.89 | 0.0 | 2.94 | -27.94 | 0.0 | 1.16 | -28.4 | 0.0 | 0.22 | 10.0 | 0.0 | 9.99 | -24.26 | 0.0 | 184.93 | 6.34 | 0.0 | 90.96 | 97.09 | 0.0 | 9.04 | -83.26 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 0.76 | 684.62 | 0.0 | 19.05 | 6.6 | 0.0 | 3.83 | 353.64 | 0.0 | 8.31 | 474.32 | 0.0 | 7.59 | 459.72 | 0.0 | 4.08 | 481.31 | 0.0 | 1.62 | 678.57 | 0.0 | 0.20 | 5.26 | 0.0 | 13.19 | 419.29 | 0.0 | 173.90 | 2.4 | 0.0 | 46.15 | -31.94 | 0.0 | 53.99 | 67.77 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | -0.13 | 0.0 | 0.0 | 17.87 | 0.0 | 0.0 | -1.51 | 0.0 | 0.0 | -2.22 | 0.0 | 0.0 | -2.11 | 0.0 | 0.0 | -1.07 | 0.0 | 0.0 | -0.28 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 2.54 | 0.0 | 0.0 | 169.82 | 0.0 | 0.0 | 67.82 | 0.0 | 0.0 | 32.18 | 0.0 | 0.0 | 15.59 | 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) | 7.95 | 102.29 | 20.80 | 8.84 | 9.48 | 41.07 | 2.12 | -20.65 | 12.53 | 57.41 | 10.34 | 52.96 | 29.20 | 57.33 | 11.70 | 65.49 | 1.08 | 10.2 | 15.39 | 37.04 | 147.22 | -19.1 | 75.68 | -10.3 | 24.33 | 55.69 | 1.75 | -4.19 | 11.44 | 3.25 |
| 2022 (9) | 3.93 | 70.87 | 19.11 | 0.26 | 6.72 | 25.84 | 2.67 | -19.76 | 7.96 | 41.39 | 6.76 | 43.22 | 18.56 | 55.31 | 7.07 | 50.75 | 0.98 | 6.52 | 11.23 | 18.34 | 181.97 | 3.01 | 84.37 | -11.15 | 15.63 | 207.47 | 1.82 | 0 | 11.08 | -9.03 |
| 2021 (8) | 2.30 | -4.56 | 19.06 | -0.47 | 5.34 | 11.02 | 3.33 | 3.43 | 5.63 | -8.01 | 4.72 | -6.16 | 11.95 | -8.85 | 4.69 | -10.5 | 0.92 | -4.17 | 9.49 | -5.67 | 176.65 | 1.54 | 94.96 | 20.89 | 5.08 | -76.3 | 0.00 | 0 | 12.18 | -0.33 |
| 2020 (7) | 2.41 | -11.07 | 19.15 | 9.81 | 4.81 | 256.3 | 3.22 | -6.75 | 6.12 | -15.24 | 5.03 | -23.44 | 13.11 | -12.25 | 5.24 | -13.53 | 0.96 | 12.94 | 10.06 | -13.05 | 173.97 | 2.44 | 78.55 | 319.74 | 21.45 | -73.61 | 0.00 | 0 | 12.22 | -12.53 |
| 2019 (6) | 2.71 | 115.08 | 17.44 | 3.2 | 1.35 | 0 | 3.45 | -1.55 | 7.22 | 93.57 | 6.57 | 184.42 | 14.94 | 195.84 | 6.06 | 147.35 | 0.85 | 0.0 | 11.57 | 41.1 | 169.82 | 2.8 | 18.71 | 0 | 81.29 | -25.12 | 0.00 | 0 | 13.97 | -3.46 |
| 2018 (5) | 1.26 | 110.0 | 16.90 | -3.37 | -0.32 | 0 | 3.50 | 6.17 | 3.73 | 116.86 | 2.31 | 46.2 | 5.05 | 57.32 | 2.45 | 35.36 | 0.85 | 3.66 | 8.20 | 36.21 | 165.20 | 9.94 | -8.56 | 0 | 108.56 | 271.43 | 0.00 | 0 | 14.47 | 2.84 |
| 2017 (4) | 0.60 | 0 | 17.49 | 12.26 | 1.21 | 1.68 | 3.30 | 13.65 | 1.72 | 0 | 1.58 | 0 | 3.21 | 0 | 1.81 | 0 | 0.82 | -3.53 | 6.02 | 52.02 | 150.26 | 5.5 | 70.77 | 0 | 29.23 | -99.0 | 0.00 | 0 | 14.07 | 12.92 |
| 2016 (3) | -0.37 | 0 | 15.58 | 8.04 | 1.19 | 0 | 2.90 | -5.21 | -0.04 | 0 | -0.83 | 0 | -1.67 | 0 | -0.08 | 0 | 0.85 | 7.59 | 3.96 | -73.83 | 142.42 | 7.88 | -2820.00 | 0 | 2920.00 | 2515.35 | 0.00 | 0 | 12.46 | -4.3 |
| 2015 (2) | 3.48 | 0 | 14.42 | 13.54 | -1.27 | 0 | 3.06 | 8.08 | 10.94 | 0 | 9.11 | 0 | 17.23 | 0 | 7.82 | 0 | 0.79 | -15.96 | 15.13 | 326.2 | 132.02 | -10.38 | -11.65 | 0 | 111.65 | 0 | 0.00 | 0 | 13.02 | 12.53 |
| 2014 (1) | -0.32 | 0 | 12.70 | 0 | -2.31 | 0 | 2.83 | -17.16 | -0.40 | 0 | -0.96 | 0 | -2.25 | 0 | -0.21 | 0 | 0.94 | 9.3 | 3.55 | -9.9 | 147.31 | -2.08 | 585.42 | 79.93 | -485.42 | 0 | 0.00 | 0 | 11.57 | -7.14 |
