- 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) | 3.11 | 3.32 | 20.54 | 37.86 | -0.37 | 4.21 | 19.61 | -1.9 | -5.86 | 22.28 | -1.94 | 9.27 | 19.34 | 0.89 | 12.57 | 4.90 | 2.73 | 7.69 | 3.21 | 0.0 | 0.31 | 0.16 | -5.88 | -15.79 | 30.39 | -1.84 | 4.15 | 52.70 | -6.16 | 38.43 | 87.91 | 0.06 | -13.97 | 12.09 | -0.47 | 653.26 | 23.27 | -0.39 | 9.04 |
| 24Q2 (19) | 3.01 | 21.37 | 34.37 | 38.00 | 7.86 | 28.21 | 19.99 | 6.67 | 65.07 | 22.72 | 11.87 | 51.16 | 19.17 | 10.68 | 12.24 | 4.77 | 18.07 | 19.85 | 3.21 | 13.43 | 15.05 | 0.17 | 6.25 | 6.25 | 30.96 | 4.59 | 22.47 | 56.16 | 28.66 | 17.15 | 87.85 | -4.56 | 8.9 | 12.15 | 52.74 | -37.14 | 23.36 | 7.01 | -1.1 |
| 24Q1 (18) | 2.48 | 2.48 | 53.09 | 35.23 | -2.27 | 26.27 | 18.74 | 8.26 | 47.79 | 20.31 | 3.31 | 60.55 | 17.32 | 2.85 | 43.38 | 4.04 | -1.7 | 50.19 | 2.83 | -3.08 | 47.4 | 0.16 | -5.88 | 0.0 | 29.60 | 3.24 | 26.88 | 43.65 | -1.22 | 12.07 | 92.05 | 4.32 | -7.95 | 7.95 | -32.39 | 0 | 21.83 | -29.92 | -1.71 |
| 23Q4 (17) | 2.42 | -6.2 | 39.88 | 36.05 | -0.77 | 11.06 | 17.31 | -16.9 | 16.64 | 19.66 | -3.58 | 16.68 | 16.84 | -1.98 | 22.56 | 4.11 | -9.67 | 37.92 | 2.92 | -8.75 | 43.84 | 0.17 | -10.53 | 13.33 | 28.67 | -1.75 | 1.99 | 44.19 | 16.08 | -0.72 | 88.24 | -13.65 | 0.27 | 11.76 | 638.24 | -1.96 | 31.15 | 45.97 | 7.16 |
| 23Q3 (16) | 2.58 | 15.18 | -7.19 | 36.33 | 22.57 | 14.39 | 20.83 | 72.01 | 34.21 | 20.39 | 35.66 | -14.54 | 17.18 | 0.59 | -11.03 | 4.55 | 14.32 | -9.9 | 3.20 | 14.7 | 0.95 | 0.19 | 18.75 | 18.75 | 29.18 | 15.43 | -12.87 | 38.07 | -20.59 | -27.54 | 102.19 | 26.67 | 57.5 | -2.19 | -111.31 | -106.22 | 21.34 | -9.65 | -17.22 |
| 23Q2 (15) | 2.24 | 38.27 | -20.28 | 29.64 | 6.24 | -14.95 | 12.11 | -4.5 | -25.43 | 15.03 | 18.81 | -42.66 | 17.08 | 41.39 | -13.21 | 3.98 | 47.96 | -21.81 | 2.79 | 45.31 | -12.54 | 0.16 | 0.0 | 0.0 | 25.28 | 8.36 | -29.46 | 47.94 | 23.08 | -30.15 | 80.67 | -19.33 | 30.36 | 19.33 | 0 | -49.29 | 23.62 | 6.35 | -12.97 |
| 23Q1 (14) | 1.62 | -6.36 | -46.0 | 27.90 | -14.05 | -14.57 | 12.68 | -14.56 | -30.21 | 12.65 | -24.93 | -48.74 | 12.08 | -12.08 | -39.08 | 2.69 | -9.73 | -50.73 | 1.92 | -5.42 | -46.07 | 0.16 | 6.67 | -11.11 | 23.33 | -17.0 | -30.77 | 38.95 | -12.49 | -27.26 | 100.00 | 13.64 | 36.2 | 0.00 | -100.0 | -100.0 | 22.21 | -23.6 | -11.69 |
| 22Q4 (13) | 1.73 | -37.77 | -7.49 | 32.46 | 2.2 | 0.84 | 14.84 | -4.38 | -0.67 | 16.85 | -29.38 | 1.02 | 13.74 | -28.85 | -12.93 | 2.98 | -40.99 | -16.99 | 2.03 | -35.96 | -11.35 | 0.15 | -6.25 | 7.14 | 28.11 | -16.06 | 0.75 | 44.51 | -15.28 | -21.9 | 88.00 | 35.64 | -1.0 | 12.00 | -65.83 | 17.0 | 29.07 | 12.76 | -9.18 |
| 22Q3 (12) | 2.78 | -1.07 | 4.12 | 31.76 | -8.87 | -16.55 | 15.52 | -4.43 | -32.46 | 23.86 | -8.97 | -2.09 | 19.31 | -1.88 | 6.1 | 5.05 | -0.79 | -6.13 | 3.17 | -0.63 | -5.65 | 0.16 | 0.0 | -11.11 | 33.49 | -6.56 | 1.3 | 52.54 | -23.44 | -13.23 | 64.88 | 4.84 | -31.23 | 35.12 | -7.86 | 520.49 | 25.78 | -5.01 | -5.08 |
| 22Q2 (11) | 2.81 | -6.33 | 20.6 | 34.85 | 6.71 | -5.91 | 16.24 | -10.62 | -27.44 | 26.21 | 6.2 | 37.08 | 19.68 | -0.76 | 26.8 | 5.09 | -6.78 | 8.53 | 3.19 | -10.39 | 4.93 | 0.16 | -11.11 | -15.79 | 35.84 | 6.35 | 30.19 | 68.63 | 28.16 | 6.97 | 61.88 | -15.72 | -47.23 | 38.12 | 43.42 | 320.81 | 27.14 | 7.91 | 6.68 |
| 22Q1 (10) | 3.00 | 60.43 | 40.19 | 32.66 | 1.46 | -4.22 | 18.17 | 21.62 | -3.76 | 24.68 | 47.96 | 24.9 | 19.83 | 25.67 | 24.56 | 5.46 | 52.09 | 26.1 | 3.56 | 55.46 | 21.5 | 0.18 | 28.57 | 0.0 | 33.70 | 20.79 | 16.33 | 53.55 | -6.04 | 8.36 | 73.42 | -17.4 | -23.13 | 26.58 | 159.12 | 492.28 | 25.15 | -21.43 | -8.81 |
| 21Q4 (9) | 1.87 | -29.96 | 0.0 | 32.19 | -15.42 | -5.18 | 14.94 | -34.99 | -21.86 | 16.68 | -31.56 | -9.1 | 15.78 | -13.3 | 8.68 | 3.59 | -33.27 | -8.65 | 2.29 | -31.85 | -14.55 | 0.14 | -22.22 | -22.22 | 27.90 | -15.61 | 0.0 | 56.99 | -5.88 | 12.19 | 88.89 | -5.78 | -14.84 | 10.26 | 81.2 | 334.19 | 32.01 | 17.86 | 18.38 |
| 21Q3 (8) | 2.67 | 14.59 | 32.84 | 38.06 | 2.75 | 20.94 | 22.98 | 2.68 | 41.76 | 24.37 | 27.46 | 22.22 | 18.20 | 17.27 | 7.44 | 5.38 | 14.71 | 20.09 | 3.36 | 10.53 | 10.89 | 0.18 | -5.26 | 5.88 | 33.06 | 20.09 | 9.25 | 60.55 | -5.63 | 28.37 | 94.34 | -19.55 | 16.24 | 5.66 | 132.79 | -69.96 | 27.16 | 6.76 | 4.62 |
| 21Q2 (7) | 2.33 | 8.88 | 119.81 | 37.04 | 8.62 | 14.75 | 22.38 | 18.54 | 82.69 | 19.12 | -3.24 | 73.98 | 15.52 | -2.51 | 40.33 | 4.69 | 8.31 | 109.38 | 3.04 | 3.75 | 97.4 | 0.19 | 5.56 | 46.15 | 27.53 | -4.97 | 15.96 | 64.16 | 29.83 | 13.28 | 117.26 | 22.77 | 4.83 | -17.26 | -484.69 | -45.49 | 25.44 | -7.76 | 0 |
| 21Q1 (6) | 2.14 | 14.44 | 65.89 | 34.10 | 0.44 | 7.5 | 18.88 | -1.26 | 26.37 | 19.76 | 7.68 | 16.37 | 15.92 | 9.64 | 20.88 | 4.33 | 10.18 | 58.03 | 2.93 | 9.33 | 51.03 | 0.18 | 0.0 | 28.57 | 28.97 | 3.84 | 1.58 | 49.42 | -2.72 | 9.8 | 95.51 | -8.49 | 8.02 | 4.49 | 202.46 | -61.25 | 27.58 | 2.0 | 0 |
| 20Q4 (5) | 1.87 | -6.97 | 94.79 | 33.95 | 7.88 | 8.26 | 19.12 | 17.95 | 63.42 | 18.35 | -7.97 | 66.82 | 14.52 | -14.29 | 67.47 | 3.93 | -12.28 | 93.6 | 2.68 | -11.55 | 86.11 | 0.18 | 5.88 | 12.5 | 27.90 | -7.8 | 30.68 | 50.80 | 7.7 | 12.64 | 104.38 | 28.61 | -1.34 | -4.38 | -123.25 | 24.45 | 27.04 | 4.16 | -8.37 |
| 20Q3 (4) | 2.01 | 89.62 | 0.0 | 31.47 | -2.51 | 0.0 | 16.21 | 32.33 | 0.0 | 19.94 | 81.44 | 0.0 | 16.94 | 53.16 | 0.0 | 4.48 | 100.0 | 0.0 | 3.03 | 96.75 | 0.0 | 0.17 | 30.77 | 0.0 | 30.26 | 27.46 | 0.0 | 47.17 | -16.72 | 0.0 | 81.16 | -27.45 | 0.0 | 18.84 | 258.8 | 0.0 | 25.96 | 0 | 0.0 |
| 20Q2 (3) | 1.06 | -17.83 | 0.0 | 32.28 | 1.77 | 0.0 | 12.25 | -18.01 | 0.0 | 10.99 | -35.28 | 0.0 | 11.06 | -16.02 | 0.0 | 2.24 | -18.25 | 0.0 | 1.54 | -20.62 | 0.0 | 0.13 | -7.14 | 0.0 | 23.74 | -16.76 | 0.0 | 56.64 | 25.84 | 0.0 | 111.86 | 26.51 | 0.0 | -11.86 | -202.47 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 1.29 | 34.38 | 0.0 | 31.72 | 1.15 | 0.0 | 14.94 | 27.69 | 0.0 | 16.98 | 54.36 | 0.0 | 13.17 | 51.9 | 0.0 | 2.74 | 34.98 | 0.0 | 1.94 | 34.72 | 0.0 | 0.14 | -12.5 | 0.0 | 28.52 | 33.58 | 0.0 | 45.01 | -0.2 | 0.0 | 88.42 | -16.42 | 0.0 | 11.58 | 299.74 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 0.96 | 0.0 | 0.0 | 31.36 | 0.0 | 0.0 | 11.70 | 0.0 | 0.0 | 11.00 | 0.0 | 0.0 | 8.67 | 0.0 | 0.0 | 2.03 | 0.0 | 0.0 | 1.44 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 21.35 | 0.0 | 0.0 | 45.10 | 0.0 | 0.0 | 105.80 | 0.0 | 0.0 | -5.80 | 0.0 | 0.0 | 29.51 | 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) | 8.86 | -14.15 | 32.70 | -0.73 | 15.93 | -2.03 | 9.32 | -0.89 | 17.12 | -25.98 | 15.88 | -13.27 | 15.07 | -19.11 | 10.49 | -16.08 | 0.66 | -2.94 | 26.73 | -18.75 | 44.19 | -0.72 | 93.17 | 32.49 | 6.83 | -76.99 | 0.19 | 20.55 | 24.63 | -7.68 |
| 2022 (9) | 10.32 | 14.54 | 32.94 | -7.34 | 16.26 | -19.02 | 9.40 | 6.67 | 23.13 | 14.73 | 18.31 | 11.71 | 18.63 | 5.08 | 12.50 | 7.02 | 0.68 | -2.86 | 32.90 | 11.83 | 44.51 | -21.9 | 70.32 | -29.35 | 29.68 | 6349.89 | 0.16 | 31.83 | 26.68 | -4.17 |
| 2021 (8) | 9.01 | 44.62 | 35.55 | 9.62 | 20.08 | 25.89 | 8.82 | -13.95 | 20.16 | 19.08 | 16.39 | 15.83 | 17.73 | 35.97 | 11.68 | 29.49 | 0.70 | 12.9 | 29.42 | 5.9 | 56.99 | 12.19 | 99.54 | 5.68 | 0.46 | -92.09 | 0.12 | -13.09 | 27.84 | -1.28 |
| 2020 (7) | 6.23 | 22.88 | 32.43 | -1.43 | 15.95 | 17.54 | 10.24 | -3.54 | 16.93 | 9.51 | 14.15 | 13.38 | 13.04 | 18.65 | 9.02 | 11.91 | 0.62 | -1.59 | 27.78 | 3.97 | 50.80 | 12.64 | 94.19 | 7.47 | 5.81 | -52.97 | 0.14 | 8.59 | 28.20 | -4.34 |
| 2019 (6) | 5.07 | -28.09 | 32.90 | -12.64 | 13.57 | -33.93 | 10.62 | 37.47 | 15.46 | -36.12 | 12.48 | -22.82 | 10.99 | -32.2 | 8.06 | -32.04 | 0.63 | -13.7 | 26.72 | -17.12 | 45.10 | 26.51 | 87.64 | 3.19 | 12.36 | -17.98 | 0.13 | -6.35 | 29.48 | 2.11 |
| 2018 (5) | 7.05 | -12.42 | 37.66 | -5.99 | 20.54 | -16.2 | 7.73 | 18.31 | 24.20 | 1.85 | 16.17 | -2.47 | 16.21 | -4.08 | 11.86 | -1.66 | 0.73 | 1.39 | 32.24 | 5.67 | 35.65 | -10.09 | 84.93 | -17.68 | 15.07 | 0 | 0.14 | 0 | 28.87 | 4.34 |
| 2017 (4) | 8.05 | 15.99 | 40.06 | 5.37 | 24.51 | 13.0 | 6.53 | -0.33 | 23.76 | 6.12 | 16.58 | 3.69 | 16.90 | 10.53 | 12.06 | 5.14 | 0.72 | 1.41 | 30.51 | 4.17 | 39.65 | -6.2 | 103.17 | 6.5 | -3.17 | 0 | 0.00 | 0 | 27.67 | -7.3 |
| 2016 (3) | 6.94 | 36.88 | 38.02 | 24.05 | 21.69 | 44.12 | 6.55 | -10.9 | 22.39 | 34.23 | 15.99 | 26.2 | 15.29 | 34.24 | 11.47 | 25.63 | 0.71 | -1.39 | 29.29 | 20.58 | 42.27 | 56.15 | 96.87 | 7.31 | 3.13 | -67.8 | 0.00 | 0 | 29.85 | 5.81 |
| 2015 (2) | 5.07 | -19.52 | 30.65 | -13.25 | 15.05 | -20.96 | 7.35 | 16.94 | 16.68 | -13.17 | 12.67 | -7.99 | 11.39 | -26.61 | 9.13 | -21.09 | 0.72 | -13.25 | 24.29 | -5.71 | 27.07 | 12.98 | 90.27 | -8.76 | 9.73 | 1128.77 | 0.00 | 0 | 28.21 | -0.67 |
| 2014 (1) | 6.30 | -9.22 | 35.33 | 0 | 19.04 | 0 | 6.29 | 34.74 | 19.21 | 0 | 13.77 | 0 | 15.52 | 0 | 11.57 | 0 | 0.83 | -17.82 | 25.76 | -1.57 | 23.96 | -55.97 | 98.94 | 7.07 | 0.79 | -89.57 | 0.00 | 0 | 28.40 | 12.92 |
