- 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) | 1.95 | 2.09 | -11.36 | 23.35 | -24.19 | -35.9 | 18.64 | -29.29 | -42.36 | 31.36 | -3.03 | -17.93 | 27.61 | 7.68 | -21.7 | 3.11 | 4.36 | -23.4 | 2.33 | 4.02 | -24.6 | 0.08 | -11.11 | -11.11 | 36.06 | -2.12 | -16.06 | 30.76 | -22.3 | 4.73 | 59.44 | -27.15 | -29.74 | 40.56 | 119.25 | 163.22 | 7.40 | 3.21 | 13.67 |
| 24Q2 (19) | 1.91 | 64.66 | -57.27 | 30.80 | 7.09 | -3.93 | 26.36 | 9.6 | -6.66 | 32.34 | 31.3 | -51.46 | 25.64 | 28.97 | -58.01 | 2.98 | 49.0 | -62.94 | 2.24 | 42.68 | -62.91 | 0.09 | 12.5 | -10.0 | 36.84 | 23.83 | -46.64 | 39.59 | 31.97 | 6.05 | 81.59 | -16.38 | 92.42 | 18.50 | 664.0 | -67.88 | 7.17 | -9.01 | 17.35 |
| 24Q1 (18) | 1.16 | 20.83 | -0.85 | 28.76 | -28.65 | -14.66 | 24.05 | -21.71 | -17.95 | 24.63 | -20.93 | -17.38 | 19.88 | -22.62 | -16.75 | 2.00 | 6.95 | -19.68 | 1.57 | 3.97 | -19.07 | 0.08 | 33.33 | 0.0 | 29.75 | -24.05 | -7.55 | 30.00 | 2.77 | 4.2 | 97.58 | -0.97 | -0.75 | 2.42 | 65.21 | 44.0 | 7.88 | -47.71 | 3.01 |
| 23Q4 (17) | 0.96 | -56.36 | -20.66 | 40.31 | 10.65 | 15.17 | 30.72 | -5.01 | 8.44 | 31.15 | -18.48 | 5.7 | 25.69 | -27.14 | -12.68 | 1.87 | -53.94 | -33.21 | 1.51 | -51.13 | -30.73 | 0.06 | -33.33 | -14.29 | 39.17 | -8.82 | 21.19 | 29.19 | -0.61 | 2.67 | 98.53 | 16.49 | 2.45 | 1.47 | -90.49 | -61.61 | 15.07 | 131.49 | 40.32 |
| 23Q3 (16) | 2.20 | -50.78 | 71.88 | 36.43 | 13.63 | 20.99 | 32.34 | 14.52 | 30.4 | 38.21 | -42.65 | 18.59 | 35.26 | -42.25 | 29.68 | 4.06 | -49.5 | 50.37 | 3.09 | -48.84 | 49.28 | 0.09 | -10.0 | 12.5 | 42.96 | -37.78 | 16.9 | 29.37 | -21.32 | 2.3 | 84.59 | 99.49 | 9.91 | 15.41 | -73.24 | -33.11 | 6.51 | 6.55 | -19.73 |
| 23Q2 (15) | 4.47 | 282.05 | 54.14 | 32.06 | -4.87 | 39.09 | 28.24 | -3.65 | 50.53 | 66.63 | 123.52 | 50.92 | 61.06 | 155.7 | 52.08 | 8.04 | 222.89 | 56.73 | 6.04 | 211.34 | 53.3 | 0.10 | 25.0 | 0.0 | 69.04 | 114.54 | 45.9 | 37.33 | 29.66 | 10.94 | 42.40 | -56.87 | -0.25 | 57.60 | 3324.88 | 0.18 | 6.11 | -20.13 | -0.97 |
| 23Q1 (14) | 1.17 | -3.31 | 42.68 | 33.70 | -3.71 | 75.52 | 29.31 | 3.46 | 93.72 | 29.81 | 1.15 | 93.45 | 23.88 | -18.83 | 93.52 | 2.49 | -11.07 | 59.62 | 1.94 | -11.01 | 60.33 | 0.08 | 14.29 | -20.0 | 32.18 | -0.43 | 74.04 | 28.79 | 1.27 | 4.27 | 98.32 | 2.22 | 0.23 | 1.68 | -55.95 | -2.27 | 7.65 | -28.77 | 32.58 |
| 22Q4 (13) | 1.21 | -5.47 | 72.86 | 35.00 | 16.24 | 161.78 | 28.33 | 14.23 | 204.95 | 29.47 | -8.54 | 203.81 | 29.42 | 8.2 | 271.0 | 2.80 | 3.7 | 93.1 | 2.18 | 5.31 | 100.0 | 0.07 | -12.5 | -50.0 | 32.32 | -12.05 | 168.89 | 28.43 | -0.98 | -8.94 | 96.18 | 24.97 | 0.53 | 3.82 | -83.43 | -6.89 | 10.74 | 32.43 | 86.14 |
| 22Q3 (12) | 1.28 | -55.86 | 10.34 | 30.11 | 30.63 | 54.65 | 24.80 | 32.2 | 59.18 | 32.22 | -27.02 | 61.02 | 27.19 | -32.28 | 61.85 | 2.70 | -47.37 | 17.9 | 2.07 | -47.46 | 18.97 | 0.08 | -20.0 | -20.0 | 36.75 | -22.34 | 59.51 | 28.71 | -14.68 | -22.3 | 76.96 | 81.06 | -1.17 | 23.04 | -59.93 | 4.12 | 8.11 | 31.44 | 49.36 |
| 22Q2 (11) | 2.90 | 253.66 | 383.33 | 23.05 | 20.05 | 15.95 | 18.76 | 23.99 | 26.16 | 44.15 | 186.5 | 177.15 | 40.15 | 225.36 | 219.16 | 5.13 | 228.85 | 261.27 | 3.94 | 225.62 | 268.22 | 0.10 | 0.0 | 25.0 | 47.32 | 155.92 | 137.19 | 33.65 | 21.88 | 19.2 | 42.51 | -56.66 | -54.53 | 57.49 | 3240.99 | 750.08 | 6.17 | 6.93 | -6.23 |
| 22Q1 (10) | 0.82 | 17.14 | 26.15 | 19.20 | 43.61 | 3.56 | 15.13 | 62.86 | 11.99 | 15.41 | 58.87 | 13.39 | 12.34 | 55.61 | 10.28 | 1.56 | 7.59 | -17.89 | 1.21 | 11.01 | -11.03 | 0.10 | -28.57 | -16.67 | 18.49 | 53.83 | 8.57 | 27.61 | -11.56 | -33.71 | 98.09 | 2.53 | -1.44 | 1.72 | -58.03 | 256.21 | 5.77 | 0.0 | -13.88 |
| 21Q4 (9) | 0.70 | -39.66 | 14.75 | 13.37 | -31.33 | -36.12 | 9.29 | -40.37 | -35.98 | 9.70 | -51.52 | -39.79 | 7.93 | -52.8 | -38.38 | 1.45 | -36.68 | -32.87 | 1.09 | -37.36 | -27.81 | 0.14 | 40.0 | 16.67 | 12.02 | -47.83 | -40.55 | 31.22 | -15.51 | -27.71 | 95.67 | 22.85 | 6.36 | 4.10 | -81.47 | -58.2 | 5.77 | 6.26 | -38.16 |
| 21Q3 (8) | 1.16 | 93.33 | 22.11 | 19.47 | -2.06 | -20.07 | 15.58 | 4.77 | -20.79 | 20.01 | 25.61 | -17.52 | 16.80 | 33.55 | -17.36 | 2.29 | 61.27 | -32.84 | 1.74 | 62.62 | -26.27 | 0.10 | 25.0 | -16.67 | 23.04 | 15.49 | -20.03 | 36.95 | 30.89 | -24.02 | 77.87 | -16.69 | -3.85 | 22.13 | 227.14 | 17.51 | 5.43 | -17.48 | -17.23 |
| 21Q2 (7) | 0.60 | -7.69 | 5.26 | 19.88 | 7.23 | -12.5 | 14.87 | 10.07 | -15.37 | 15.93 | 17.22 | -16.07 | 12.58 | 12.42 | -15.46 | 1.42 | -25.26 | -37.44 | 1.07 | -21.32 | -34.36 | 0.08 | -33.33 | -27.27 | 19.95 | 17.15 | -17.05 | 28.23 | -32.22 | -34.79 | 93.48 | -6.07 | 0.97 | 6.76 | 1300.0 | -8.81 | 6.58 | -1.79 | -15.32 |
| 21Q1 (6) | 0.65 | 6.56 | 0 | 18.54 | -11.42 | 0 | 13.51 | -6.89 | 0 | 13.59 | -15.64 | 0 | 11.19 | -13.05 | 0 | 1.90 | -12.04 | 0 | 1.36 | -9.93 | 0 | 0.12 | 0.0 | 0 | 17.03 | -15.78 | 0 | 41.65 | -3.57 | 0 | 99.52 | 10.63 | 0 | 0.48 | -95.07 | 0 | 6.70 | -28.19 | 0 |
| 20Q4 (5) | 0.61 | -35.79 | 0 | 20.93 | -14.08 | 0 | 14.51 | -26.23 | 0 | 16.11 | -33.59 | 0 | 12.87 | -36.69 | 0 | 2.16 | -36.66 | 0 | 1.51 | -36.02 | 0 | 0.12 | 0.0 | 0 | 20.22 | -29.82 | 0 | 43.19 | -11.19 | 0 | 89.95 | 11.06 | 0 | 9.81 | -47.9 | 0 | 9.33 | 42.23 | 0 |
| 20Q3 (4) | 0.95 | 66.67 | 0.0 | 24.36 | 7.22 | 0.0 | 19.67 | 11.95 | 0.0 | 24.26 | 27.82 | 0.0 | 20.33 | 36.63 | 0.0 | 3.41 | 50.22 | 0.0 | 2.36 | 44.79 | 0.0 | 0.12 | 9.09 | 0.0 | 28.81 | 19.79 | 0.0 | 48.63 | 12.34 | 0.0 | 80.99 | -12.52 | 0.0 | 18.83 | 153.85 | 0.0 | 6.56 | -15.57 | 0.0 |
| 20Q2 (3) | 0.57 | 0 | 0.0 | 22.72 | 0 | 0.0 | 17.57 | 0 | 0.0 | 18.98 | 0 | 0.0 | 14.88 | 0 | 0.0 | 2.27 | 0 | 0.0 | 1.63 | 0 | 0.0 | 0.11 | 0 | 0.0 | 24.05 | 0 | 0.0 | 43.29 | 0 | 0.0 | 92.58 | 0 | 0.0 | 7.42 | 0 | 0.0 | 7.77 | 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) | 8.80 | 41.48 | 35.13 | 36.11 | 30.07 | 43.94 | 2.13 | -34.57 | 43.80 | 45.27 | 38.90 | 44.02 | 16.41 | 35.51 | 12.86 | 37.69 | 0.33 | -5.71 | 47.84 | 42.72 | 29.19 | 2.67 | 68.65 | -0.93 | 31.35 | 2.1 | 15.47 | -0.87 | 8.18 | 10.69 |
| 2022 (9) | 6.22 | 100.0 | 25.81 | 49.1 | 20.89 | 62.06 | 3.25 | 11.48 | 30.15 | 109.96 | 27.01 | 129.09 | 12.11 | 62.55 | 9.34 | 68.9 | 0.35 | -23.91 | 33.52 | 92.2 | 28.43 | -8.94 | 69.30 | -22.76 | 30.70 | 198.64 | 15.60 | 27.41 | 7.39 | 22.15 |
| 2021 (8) | 3.11 | 17.36 | 17.31 | -20.12 | 12.89 | -21.45 | 2.92 | -30.6 | 14.36 | -22.59 | 11.79 | -21.5 | 7.45 | -16.1 | 5.53 | -17.71 | 0.46 | 4.55 | 17.44 | -24.31 | 31.22 | -27.71 | 89.72 | 1.47 | 10.28 | -11.25 | 12.25 | 7.49 | 6.05 | -20.5 |
| 2020 (7) | 2.65 | 8.61 | 21.67 | -4.54 | 16.41 | 1.55 | 4.20 | -5.05 | 18.55 | -4.97 | 15.02 | -6.36 | 8.88 | -2.09 | 6.72 | -9.92 | 0.44 | -4.35 | 23.04 | -4.56 | 43.19 | 92.81 | 88.41 | 6.81 | 11.59 | -32.74 | 11.39 | 0 | 7.61 | -3.3 |
| 2019 (6) | 2.44 | -3.56 | 22.70 | 16.29 | 16.16 | 19.09 | 4.43 | 42.04 | 19.52 | 25.77 | 16.04 | 30.83 | 9.07 | -2.89 | 7.46 | -2.1 | 0.46 | -25.81 | 24.14 | 28.68 | 22.40 | 3.46 | 82.78 | -5.35 | 17.22 | 36.64 | 0.00 | 0 | 7.87 | 28.81 |
| 2018 (5) | 2.53 | -17.86 | 19.52 | 11.04 | 13.57 | 7.87 | 3.12 | 1.82 | 15.52 | -6.39 | 12.26 | -15.51 | 9.34 | -20.38 | 7.62 | -19.28 | 0.62 | -4.62 | 18.76 | -4.77 | 21.65 | -10.39 | 87.45 | 15.33 | 12.61 | -47.73 | 0.00 | 0 | 6.11 | 4.98 |
| 2017 (4) | 3.08 | 61.26 | 17.58 | 6.42 | 12.58 | 15.52 | 3.06 | -15.79 | 16.58 | 32.22 | 14.51 | 38.85 | 11.73 | 37.51 | 9.44 | 35.05 | 0.65 | -1.52 | 19.70 | 20.71 | 24.16 | -1.35 | 75.83 | -12.71 | 24.11 | 83.66 | 0.00 | 0 | 5.82 | 2.65 |
| 2016 (3) | 1.91 | 12.35 | 16.52 | 86.04 | 10.89 | 375.55 | 3.63 | 162.66 | 12.54 | 41.38 | 10.45 | 21.23 | 8.53 | 48.61 | 6.99 | 49.68 | 0.66 | 22.22 | 16.32 | 57.99 | 24.49 | 13.38 | 86.87 | 237.06 | 13.13 | -82.31 | 0.00 | 0 | 5.67 | 0 |
| 2015 (2) | 1.70 | -33.59 | 8.88 | -1.0 | 2.29 | -29.75 | 1.38 | 65.87 | 8.87 | -25.27 | 8.62 | -22.06 | 5.74 | -33.02 | 4.67 | -31.73 | 0.54 | -12.9 | 10.33 | -19.92 | 21.60 | -12.76 | 25.77 | -6.14 | 74.23 | 2.33 | 0.00 | 0 | 0.00 | 0 |
| 2014 (1) | 2.56 | 0 | 8.97 | 0 | 3.26 | 0 | 0.83 | 0 | 11.87 | 0 | 11.06 | 0 | 8.57 | 0 | 6.84 | 0 | 0.62 | 0 | 12.90 | 0 | 24.76 | 0 | 27.46 | 0 | 72.54 | 0 | 0.00 | 0 | 0.00 | 0 |
