- 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) | 1.79 | 20.95 | -3.76 | 26.55 | 8.23 | 1.3 | 11.70 | 19.51 | -18.47 | 13.32 | 2.23 | -3.97 | 10.01 | 7.29 | -5.21 | 2.87 | 17.14 | -15.84 | 2.13 | 18.99 | -12.35 | 0.21 | 10.53 | -8.7 | 17.51 | 0.0 | -2.99 | 31.26 | -28.35 | -18.76 | 87.85 | 16.88 | -15.36 | 12.15 | -51.07 | 474.77 | 24.66 | -4.16 | 7.92 |
| 24Q2 (19) | 1.48 | -57.59 | -0.67 | 24.53 | -3.01 | 14.2 | 9.79 | -17.87 | 22.68 | 13.03 | -15.83 | -2.32 | 9.33 | -56.42 | -2.81 | 2.45 | -57.98 | -9.59 | 1.79 | -58.08 | -8.21 | 0.19 | -5.0 | -5.0 | 17.51 | -12.45 | -1.74 | 43.63 | 26.35 | -7.54 | 75.16 | -2.34 | 25.53 | 24.84 | 7.83 | -38.1 | 25.73 | 4.3 | 9.21 |
| 24Q1 (18) | 3.49 | 59.36 | 179.2 | 25.29 | -7.43 | 6.66 | 11.92 | -6.58 | 16.86 | 15.48 | -15.04 | 30.3 | 21.41 | 62.94 | 154.88 | 5.83 | 51.43 | 160.27 | 4.27 | 52.5 | 165.22 | 0.20 | -4.76 | 5.26 | 20.00 | -11.5 | 20.34 | 34.53 | -14.95 | -5.42 | 76.96 | 9.95 | -10.32 | 23.04 | -23.21 | 62.47 | 24.67 | -5.01 | 4.09 |
| 23Q4 (17) | 2.19 | 17.74 | 68.46 | 27.32 | 4.24 | -2.57 | 12.76 | -11.08 | 25.22 | 18.22 | 31.36 | 48.98 | 13.14 | 24.43 | 41.59 | 3.85 | 12.9 | 59.75 | 2.80 | 15.23 | 67.66 | 0.21 | -8.7 | 16.67 | 22.60 | 25.21 | 29.44 | 40.60 | 5.51 | -13.25 | 70.00 | -32.55 | -15.74 | 30.00 | 1025.0 | 77.27 | 25.97 | 13.65 | -8.4 |
| 23Q3 (16) | 1.86 | 24.83 | -25.9 | 26.21 | 22.02 | -8.77 | 14.35 | 79.82 | -4.78 | 13.87 | 3.97 | -28.87 | 10.56 | 10.0 | -29.6 | 3.41 | 25.83 | -29.25 | 2.43 | 24.62 | -26.81 | 0.23 | 15.0 | 4.55 | 18.05 | 1.29 | -24.41 | 38.48 | -18.46 | -17.9 | 103.78 | 73.34 | 34.76 | -3.24 | -108.08 | -114.36 | 22.85 | -3.01 | 5.93 |
| 23Q2 (15) | 1.49 | 19.2 | 21.14 | 21.48 | -9.41 | -17.32 | 7.98 | -21.76 | -10.94 | 13.34 | 12.29 | -0.97 | 9.60 | 14.29 | -1.13 | 2.71 | 20.98 | 13.39 | 1.95 | 21.12 | 16.07 | 0.20 | 5.26 | 17.65 | 17.82 | 7.22 | -8.33 | 47.19 | 29.25 | 2.7 | 59.87 | -30.24 | -9.49 | 40.13 | 183.0 | 21.32 | 23.56 | -0.59 | -10.59 |
| 23Q1 (14) | 1.25 | -3.85 | 35.87 | 23.71 | -15.44 | 14.54 | 10.20 | 0.1 | 70.0 | 11.88 | -2.86 | 30.26 | 8.40 | -9.48 | 29.43 | 2.24 | -7.05 | 24.44 | 1.61 | -3.59 | 25.78 | 0.19 | 5.56 | 0.0 | 16.62 | -4.81 | 14.86 | 36.51 | -21.99 | -17.21 | 85.82 | 3.3 | 29.39 | 14.18 | -16.21 | -59.13 | 23.70 | -16.4 | -0.34 |
| 22Q4 (13) | 1.30 | -48.21 | 202.33 | 28.04 | -2.4 | 39.5 | 10.19 | -32.38 | 197.08 | 12.23 | -37.28 | 152.69 | 9.28 | -38.13 | 152.86 | 2.41 | -50.0 | 177.01 | 1.67 | -49.7 | 165.08 | 0.18 | -18.18 | 12.5 | 17.46 | -26.88 | 37.26 | 46.80 | -0.15 | 9.14 | 83.08 | 7.87 | 15.24 | 16.92 | -25.05 | -44.02 | 28.35 | 31.43 | 5.63 |
| 22Q3 (12) | 2.51 | 104.07 | 412.24 | 28.73 | 10.59 | 32.82 | 15.07 | 68.19 | 549.57 | 19.50 | 44.77 | 276.45 | 15.00 | 54.48 | 271.29 | 4.82 | 101.67 | 391.84 | 3.32 | 97.62 | 374.29 | 0.22 | 29.41 | 29.41 | 23.88 | 22.84 | 109.11 | 46.87 | 2.0 | 2.99 | 77.02 | 16.42 | 72.37 | 22.58 | -31.73 | -59.18 | 21.57 | -18.14 | -21.59 |
| 22Q2 (11) | 1.23 | 33.7 | -10.22 | 25.98 | 25.51 | 13.9 | 8.96 | 49.33 | 175.69 | 13.47 | 47.7 | 120.46 | 9.71 | 49.61 | -17.36 | 2.39 | 32.78 | -13.72 | 1.68 | 31.25 | -12.95 | 0.17 | -10.53 | 6.25 | 19.44 | 34.35 | 54.65 | 45.95 | 4.2 | 2.41 | 66.15 | -0.26 | 23.18 | 33.08 | -4.66 | -28.55 | 26.35 | 10.81 | -0.42 |
| 22Q1 (10) | 0.92 | 113.95 | 6.98 | 20.70 | 2.99 | -14.46 | 6.00 | 74.93 | -14.89 | 9.12 | 88.43 | 8.19 | 6.49 | 76.84 | -1.52 | 1.80 | 106.9 | 2.27 | 1.28 | 103.17 | 4.92 | 0.19 | 18.75 | 5.56 | 14.47 | 13.76 | 1.4 | 44.10 | 2.85 | -4.05 | 66.33 | -8.0 | -21.36 | 34.69 | 14.76 | 105.69 | 23.78 | -11.4 | -11.2 |
| 21Q4 (9) | 0.43 | -12.24 | -72.96 | 20.10 | -7.07 | -29.37 | 3.43 | 47.84 | -77.76 | 4.84 | -6.56 | -69.54 | 3.67 | -9.16 | -65.89 | 0.87 | -11.22 | -74.03 | 0.63 | -10.0 | -72.25 | 0.16 | -5.88 | -23.81 | 12.72 | 11.38 | -39.11 | 42.88 | -5.78 | -12.9 | 72.09 | 61.35 | -25.82 | 30.23 | -45.35 | 976.28 | 26.84 | -2.44 | 24.43 |
| 21Q3 (8) | 0.49 | -64.23 | 508.33 | 21.63 | -5.17 | 18.39 | 2.32 | -28.62 | 181.4 | 5.18 | -15.22 | 2690.0 | 4.04 | -65.62 | 463.96 | 0.98 | -64.62 | 462.96 | 0.70 | -63.73 | 537.5 | 0.17 | 6.25 | 0.0 | 11.42 | -9.15 | 80.7 | 45.51 | 1.43 | -8.12 | 44.68 | -16.8 | -96.28 | 55.32 | 19.49 | 104.81 | 27.51 | 3.97 | 3.81 |
| 21Q2 (7) | 1.37 | 59.3 | 235.64 | 22.81 | -5.74 | 142.14 | 3.25 | -53.9 | 118.83 | 6.11 | -27.52 | 155.29 | 11.75 | 78.3 | 178.54 | 2.77 | 57.39 | 235.12 | 1.93 | 58.2 | 231.29 | 0.16 | -11.11 | 60.0 | 12.57 | -11.91 | 3323.08 | 44.87 | -2.37 | 1.84 | 53.70 | -36.32 | -65.82 | 46.30 | 174.47 | 181.02 | 26.46 | -1.19 | -30.37 |
| 21Q1 (6) | 0.86 | -45.91 | 1.18 | 24.20 | -14.97 | 2.5 | 7.05 | -54.28 | -15.26 | 8.43 | -46.95 | -15.53 | 6.59 | -38.75 | -3.37 | 1.76 | -47.46 | 8.64 | 1.22 | -46.26 | -2.4 | 0.18 | -14.29 | 0.0 | 14.27 | -31.69 | -9.97 | 45.96 | -6.64 | 42.87 | 84.34 | -13.23 | 1.64 | 16.87 | 500.48 | -0.9 | 26.78 | 24.15 | 18.86 |
| 20Q4 (5) | 1.59 | 1425.0 | -39.77 | 28.46 | 55.77 | 5.6 | 15.42 | 641.05 | 36.82 | 15.89 | 8045.0 | 8.84 | 10.76 | 1069.37 | -39.35 | 3.35 | 1340.74 | -35.45 | 2.27 | 1518.75 | -40.42 | 0.21 | 23.53 | 0.0 | 20.89 | 230.54 | 6.04 | 49.23 | -0.61 | 69.06 | 97.19 | -91.9 | 26.27 | 2.81 | 100.24 | -87.8 | 21.57 | -18.6 | -17.83 |
| 20Q3 (4) | -0.12 | 88.12 | 0.0 | 18.27 | 93.95 | 0.0 | -2.85 | 83.49 | 0.0 | -0.20 | 98.19 | 0.0 | -1.11 | 92.58 | 0.0 | -0.27 | 86.83 | 0.0 | -0.16 | 89.12 | 0.0 | 0.17 | 70.0 | 0.0 | 6.32 | 1720.51 | 0.0 | 49.53 | 12.41 | 0.0 | 1200.00 | 663.64 | 0.0 | -1150.00 | -1912.5 | 0.0 | 26.50 | -30.26 | 0.0 |
| 20Q2 (3) | -1.01 | -218.82 | 0.0 | 9.42 | -60.1 | 0.0 | -17.26 | -307.45 | 0.0 | -11.05 | -210.72 | 0.0 | -14.96 | -319.35 | 0.0 | -2.05 | -226.54 | 0.0 | -1.47 | -217.6 | 0.0 | 0.10 | -44.44 | 0.0 | -0.39 | -102.46 | 0.0 | 44.06 | 36.96 | 0.0 | 157.14 | 89.38 | 0.0 | -57.14 | -435.71 | 0.0 | 38.00 | 68.66 | 0.0 |
| 20Q1 (2) | 0.85 | -67.8 | 0.0 | 23.61 | -12.39 | 0.0 | 8.32 | -26.18 | 0.0 | 9.98 | -31.64 | 0.0 | 6.82 | -61.56 | 0.0 | 1.62 | -68.79 | 0.0 | 1.25 | -67.19 | 0.0 | 0.18 | -14.29 | 0.0 | 15.85 | -19.54 | 0.0 | 32.17 | 10.47 | 0.0 | 82.98 | 7.81 | 0.0 | 17.02 | -26.09 | 0.0 | 22.53 | -14.17 | 0.0 |
| 19Q4 (1) | 2.64 | 0.0 | 0.0 | 26.95 | 0.0 | 0.0 | 11.27 | 0.0 | 0.0 | 14.60 | 0.0 | 0.0 | 17.74 | 0.0 | 0.0 | 5.19 | 0.0 | 0.0 | 3.81 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 19.70 | 0.0 | 0.0 | 29.12 | 0.0 | 0.0 | 76.97 | 0.0 | 0.0 | 23.03 | 0.0 | 0.0 | 26.25 | 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) | 6.78 | 13.57 | 24.79 | -4.58 | 11.46 | 11.26 | 3.94 | -17.07 | 14.41 | 4.04 | 10.50 | 1.45 | 12.05 | 5.98 | 8.52 | 7.04 | 0.80 | 5.26 | 18.82 | -1.05 | 40.60 | -13.25 | 79.57 | 6.92 | 20.43 | -20.14 | 0.57 | 29.16 | 24.02 | -3.22 |
| 2022 (9) | 5.97 | 89.52 | 25.98 | 16.87 | 10.30 | 152.45 | 4.76 | -23.93 | 13.85 | 123.75 | 10.35 | 59.48 | 11.37 | 78.21 | 7.96 | 78.08 | 0.76 | 13.43 | 19.02 | 48.83 | 46.80 | 9.14 | 74.42 | 13.12 | 25.58 | -25.23 | 0.44 | 40.9 | 24.82 | -7.73 |
| 2021 (8) | 3.15 | 140.46 | 22.23 | 2.21 | 4.08 | 0.74 | 6.25 | -0.93 | 6.19 | -0.96 | 6.49 | 124.57 | 6.38 | 146.33 | 4.47 | 130.41 | 0.67 | 3.08 | 12.78 | 0.55 | 42.88 | -12.9 | 65.79 | 1.29 | 34.21 | -2.39 | 0.31 | 43.52 | 26.90 | 5.45 |
| 2020 (7) | 1.31 | -84.87 | 21.75 | -21.02 | 4.05 | -70.22 | 6.31 | 27.21 | 6.25 | -62.14 | 2.89 | -79.85 | 2.59 | -84.79 | 1.94 | -85.26 | 0.65 | -29.35 | 12.71 | -40.88 | 49.23 | 69.06 | 64.95 | -21.05 | 35.05 | 99.21 | 0.22 | -7.3 | 25.51 | 15.8 |
| 2019 (6) | 8.66 | 30.62 | 27.54 | 0.11 | 13.60 | 8.97 | 4.96 | 5.3 | 16.51 | -1.08 | 14.34 | 20.61 | 17.03 | 27.37 | 13.16 | 26.66 | 0.92 | 5.75 | 21.50 | 0.33 | 29.12 | -3.89 | 82.28 | 10.06 | 17.59 | -30.32 | 0.24 | -3.71 | 22.03 | 0.0 |
| 2018 (5) | 6.63 | -8.68 | 27.51 | -5.92 | 12.48 | -17.02 | 4.71 | 23.52 | 16.69 | -7.79 | 11.89 | -6.53 | 13.37 | -10.03 | 10.39 | -9.49 | 0.87 | -3.33 | 21.43 | -2.41 | 30.30 | 10.87 | 74.75 | -10.09 | 25.25 | 49.77 | 0.24 | 0 | 22.03 | 9.44 |
| 2017 (4) | 7.26 | -20.13 | 29.24 | -8.37 | 15.04 | -23.77 | 3.81 | 22.41 | 18.10 | -13.15 | 12.72 | -17.51 | 14.86 | -24.45 | 11.48 | -24.37 | 0.90 | -8.16 | 21.96 | -8.46 | 27.33 | -14.86 | 83.14 | -12.13 | 16.86 | 213.56 | 0.00 | 0 | 20.13 | 3.28 |
| 2016 (3) | 9.09 | 6.32 | 31.91 | 0.92 | 19.73 | 10.47 | 3.12 | -0.87 | 20.84 | -0.24 | 15.42 | -1.91 | 19.67 | -5.89 | 15.18 | -7.83 | 0.98 | -5.77 | 23.99 | -0.5 | 32.10 | 17.63 | 94.62 | 10.6 | 5.38 | -63.08 | 0.00 | 0 | 19.49 | 1.46 |
| 2015 (2) | 8.55 | 25.92 | 31.62 | 2.3 | 17.86 | 9.98 | 3.14 | 8.07 | 20.89 | 17.36 | 15.72 | 13.34 | 20.90 | 5.03 | 16.47 | 4.44 | 1.04 | -8.77 | 24.11 | 16.47 | 27.29 | -1.69 | 85.56 | -6.17 | 14.56 | 65.23 | 0.00 | 0 | 19.21 | -0.77 |
| 2014 (1) | 6.79 | 33.4 | 30.91 | 0 | 16.24 | 0 | 2.91 | -5.55 | 17.80 | 0 | 13.87 | 0 | 19.90 | 0 | 15.77 | 0 | 1.14 | 0.88 | 20.70 | 12.87 | 27.76 | 13.63 | 91.19 | 4.97 | 8.81 | -32.87 | 0.00 | 0 | 19.36 | -0.77 |
