- 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) | 1.48 | 8.82 | -25.63 | 22.44 | 1.13 | -4.92 | 10.67 | 8.22 | -7.7 | 12.06 | -1.71 | -16.13 | 9.22 | -1.81 | -19.34 | 3.89 | 7.16 | -29.27 | 1.90 | 4.4 | -24.6 | 0.19 | 5.56 | -9.52 | 15.86 | -3.76 | -12.28 | 127.85 | 7.36 | -6.81 | 88.52 | 10.19 | 10.06 | 11.48 | -41.54 | -41.34 | 14.61 | -1.62 | 3.18 |
| 24Q2 (19) | 1.36 | 30.77 | -26.09 | 22.19 | 9.2 | -4.64 | 9.86 | 27.23 | -15.0 | 12.27 | 12.88 | -13.59 | 9.39 | 12.86 | -16.83 | 3.63 | 28.27 | -31.38 | 1.82 | 28.17 | -25.1 | 0.18 | 20.0 | -10.0 | 16.48 | 5.17 | -9.35 | 119.08 | -0.85 | -7.6 | 80.34 | 12.67 | -1.64 | 19.64 | -31.57 | 7.2 | 14.85 | -1.98 | 7.76 |
| 24Q1 (18) | 1.04 | -31.13 | 0.97 | 20.32 | -7.8 | 8.14 | 7.75 | -16.31 | 23.02 | 10.87 | -7.8 | 24.94 | 8.32 | -11.21 | 20.23 | 2.83 | -30.64 | -4.71 | 1.42 | -26.42 | 3.65 | 0.15 | -21.05 | -16.67 | 15.67 | -0.57 | 21.66 | 120.10 | -1.67 | -12.99 | 71.30 | -9.22 | -1.52 | 28.70 | 33.73 | 4.0 | 15.15 | -0.79 | 3.2 |
| 23Q4 (17) | 1.51 | -24.12 | -10.12 | 22.04 | -6.61 | 12.85 | 9.26 | -19.9 | 19.95 | 11.79 | -18.01 | 4.8 | 9.37 | -18.02 | 4.81 | 4.08 | -25.82 | -14.47 | 1.93 | -23.41 | -5.85 | 0.19 | -9.52 | -9.52 | 15.76 | -12.83 | 7.72 | 122.14 | -10.98 | -14.99 | 78.54 | -2.35 | 14.44 | 21.46 | 9.67 | -31.55 | 15.27 | 7.84 | 14.3 |
| 23Q3 (16) | 1.99 | 8.15 | 6.99 | 23.60 | 1.42 | 21.03 | 11.56 | -0.34 | 21.43 | 14.38 | 1.27 | 24.18 | 11.43 | 1.24 | 24.1 | 5.50 | 3.97 | 0.73 | 2.52 | 3.7 | 12.5 | 0.21 | 5.0 | -8.7 | 18.08 | -0.55 | 24.26 | 137.20 | 6.46 | -11.58 | 80.43 | -1.53 | -2.11 | 19.57 | 6.82 | 9.7 | 14.16 | 2.76 | 13.19 |
| 23Q2 (15) | 1.84 | 78.64 | 6.36 | 23.27 | 23.84 | 13.9 | 11.60 | 84.13 | 14.06 | 14.20 | 63.22 | 22.2 | 11.29 | 63.15 | 22.19 | 5.29 | 78.11 | -1.12 | 2.43 | 77.37 | 13.02 | 0.20 | 11.11 | -13.04 | 18.18 | 41.15 | 24.78 | 128.88 | -6.63 | -16.14 | 81.68 | 12.81 | -6.67 | 18.32 | -33.62 | 46.82 | 13.78 | -6.13 | 4.95 |
| 23Q1 (14) | 1.03 | -38.69 | 11.96 | 18.79 | -3.79 | 9.63 | 6.30 | -18.39 | -12.86 | 8.70 | -22.67 | 35.09 | 6.92 | -22.6 | 35.16 | 2.97 | -37.74 | 2.06 | 1.37 | -33.17 | 17.09 | 0.18 | -14.29 | -18.18 | 12.88 | -11.96 | 39.09 | 138.03 | -3.93 | -12.41 | 72.40 | 5.5 | -35.47 | 27.60 | -11.98 | 326.31 | 14.68 | 9.88 | 14.42 |
| 22Q4 (13) | 1.68 | -9.68 | 54.13 | 19.53 | 0.15 | 13.02 | 7.72 | -18.91 | -4.81 | 11.25 | -2.85 | 58.9 | 8.94 | -2.93 | 58.51 | 4.77 | -12.64 | 35.51 | 2.05 | -8.48 | 45.39 | 0.21 | -8.7 | -12.5 | 14.63 | 0.55 | 50.82 | 143.67 | -7.41 | -5.4 | 68.63 | -16.47 | -40.02 | 31.35 | 75.76 | 317.61 | 13.36 | 6.79 | 5.95 |
| 22Q3 (12) | 1.86 | 7.51 | 39.85 | 19.50 | -4.55 | 0.98 | 9.52 | -6.39 | 13.2 | 11.58 | -0.34 | 25.19 | 9.21 | -0.32 | 24.8 | 5.46 | 2.06 | 27.57 | 2.24 | 4.19 | 27.27 | 0.23 | 0.0 | 0.0 | 14.55 | -0.14 | 22.47 | 155.17 | 0.97 | -2.24 | 82.16 | -6.13 | -9.67 | 17.84 | 42.97 | 96.78 | 12.51 | -4.72 | -4.43 |
| 22Q2 (11) | 1.73 | 88.04 | -0.57 | 20.43 | 19.19 | 3.97 | 10.17 | 40.66 | 8.89 | 11.62 | 80.43 | -7.56 | 9.24 | 80.47 | -7.14 | 5.35 | 83.85 | -3.95 | 2.15 | 83.76 | -7.73 | 0.23 | 4.55 | 0.0 | 14.57 | 57.34 | -4.02 | 153.68 | -2.48 | 13.2 | 87.52 | -21.99 | 17.78 | 12.48 | 202.32 | -51.43 | 13.13 | 2.34 | -1.28 |
| 22Q1 (10) | 0.92 | -15.6 | -49.73 | 17.14 | -0.81 | -3.76 | 7.23 | -10.85 | 29.34 | 6.44 | -9.04 | -55.74 | 5.12 | -9.22 | -54.81 | 2.91 | -17.33 | -50.59 | 1.17 | -17.02 | -52.24 | 0.22 | -8.33 | 4.76 | 9.26 | -4.54 | -46.41 | 157.59 | 3.77 | 7.66 | 112.19 | -1.93 | 192.17 | -12.19 | 15.36 | -119.79 | 12.83 | 1.74 | -9.01 |
| 21Q4 (9) | 1.09 | -18.05 | 26.74 | 17.28 | -10.51 | 6.73 | 8.11 | -3.57 | 84.74 | 7.08 | -23.46 | 17.61 | 5.64 | -23.58 | 14.17 | 3.52 | -17.76 | 27.08 | 1.41 | -19.89 | 19.49 | 0.24 | 4.35 | 4.35 | 9.70 | -18.35 | 13.05 | 151.87 | -4.32 | 10.48 | 114.41 | 25.78 | 56.9 | -14.41 | -258.94 | -153.2 | 12.61 | -3.67 | 1.04 |
| 21Q3 (8) | 1.33 | -23.56 | 3.1 | 19.31 | -1.73 | 1.74 | 8.41 | -9.96 | -12.85 | 9.25 | -26.41 | -2.32 | 7.38 | -25.83 | 1.23 | 4.28 | -23.16 | 2.64 | 1.76 | -24.46 | 2.33 | 0.23 | 0.0 | 0.0 | 11.88 | -21.74 | -1.33 | 158.73 | 16.92 | 13.84 | 90.96 | 22.41 | -10.73 | 9.07 | -64.71 | 572.96 | 13.09 | -1.58 | -0.98 |
| 21Q2 (7) | 1.74 | -4.92 | 17.57 | 19.65 | 10.33 | 1.24 | 9.34 | 67.08 | 7.11 | 12.57 | -13.61 | 17.26 | 9.95 | -12.18 | 20.46 | 5.57 | -5.43 | 11.62 | 2.33 | -4.9 | 17.09 | 0.23 | 9.52 | -4.17 | 15.18 | -12.15 | 14.05 | 135.76 | -7.26 | -11.49 | 74.31 | 93.52 | -8.67 | 25.69 | -58.31 | 38.03 | 13.30 | -5.67 | -1.12 |
| 21Q1 (6) | 1.83 | 112.79 | 169.12 | 17.81 | 10.01 | 23.0 | 5.59 | 27.33 | 141.99 | 14.55 | 141.69 | 176.62 | 11.33 | 129.35 | 179.75 | 5.89 | 112.64 | 218.38 | 2.45 | 107.63 | 206.25 | 0.21 | -8.7 | 16.67 | 17.28 | 101.4 | 94.16 | 146.38 | 6.48 | -7.58 | 38.40 | -47.34 | -12.53 | 61.62 | 127.51 | 9.95 | 14.10 | 12.98 | 5.22 |
| 20Q4 (5) | 0.86 | -33.33 | -17.31 | 16.19 | -14.7 | 0.12 | 4.39 | -54.51 | -24.57 | 6.02 | -36.43 | -16.39 | 4.94 | -32.24 | -10.02 | 2.77 | -33.57 | -15.81 | 1.18 | -31.4 | -13.87 | 0.23 | 0.0 | 0.0 | 8.58 | -28.74 | -16.13 | 137.47 | -1.41 | -8.38 | 72.92 | -28.44 | -9.9 | 27.08 | 1513.03 | 41.75 | 12.48 | -5.6 | -5.02 |
| 20Q3 (4) | 1.29 | -12.84 | 0.0 | 18.98 | -2.22 | 0.0 | 9.65 | 10.67 | 0.0 | 9.47 | -11.66 | 0.0 | 7.29 | -11.74 | 0.0 | 4.17 | -16.43 | 0.0 | 1.72 | -13.57 | 0.0 | 0.23 | -4.17 | 0.0 | 12.04 | -9.54 | 0.0 | 139.43 | -9.1 | 0.0 | 101.89 | 25.23 | 0.0 | -1.92 | -110.3 | 0.0 | 13.22 | -1.71 | 0.0 |
| 20Q2 (3) | 1.48 | 117.65 | 0.0 | 19.41 | 34.05 | 0.0 | 8.72 | 277.49 | 0.0 | 10.72 | 103.8 | 0.0 | 8.26 | 103.95 | 0.0 | 4.99 | 169.73 | 0.0 | 1.99 | 148.75 | 0.0 | 0.24 | 33.33 | 0.0 | 13.31 | 49.55 | 0.0 | 153.39 | -3.16 | 0.0 | 81.37 | 85.35 | 0.0 | 18.61 | -66.79 | 0.0 | 13.45 | 0.37 | 0.0 |
| 20Q1 (2) | 0.68 | -34.62 | 0.0 | 14.48 | -10.45 | 0.0 | 2.31 | -60.31 | 0.0 | 5.26 | -26.94 | 0.0 | 4.05 | -26.23 | 0.0 | 1.85 | -43.77 | 0.0 | 0.80 | -41.61 | 0.0 | 0.18 | -21.74 | 0.0 | 8.90 | -13.0 | 0.0 | 158.39 | 5.57 | 0.0 | 43.90 | -45.75 | 0.0 | 56.04 | 193.32 | 0.0 | 13.40 | 1.98 | 0.0 |
| 19Q4 (1) | 1.04 | 0.0 | 0.0 | 16.17 | 0.0 | 0.0 | 5.82 | 0.0 | 0.0 | 7.20 | 0.0 | 0.0 | 5.49 | 0.0 | 0.0 | 3.29 | 0.0 | 0.0 | 1.37 | 0.0 | 0.0 | 0.23 | 0.0 | 0.0 | 10.23 | 0.0 | 0.0 | 150.04 | 0.0 | 0.0 | 80.93 | 0.0 | 0.0 | 19.11 | 0.0 | 0.0 | 13.14 | 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) | 6.36 | 2.75 | 22.02 | 14.81 | 9.79 | 12.66 | 2.82 | 12.3 | 12.38 | 20.31 | 9.84 | 20.29 | 17.48 | -4.59 | 8.13 | 5.45 | 0.76 | -16.48 | 16.33 | 22.6 | 122.14 | -14.99 | 79.04 | -6.42 | 20.96 | 34.91 | 1.50 | -18.76 | 14.46 | 11.66 |
| 2022 (9) | 6.19 | 3.0 | 19.18 | 3.68 | 8.69 | 9.86 | 2.51 | 4.78 | 10.29 | -3.83 | 8.18 | -3.2 | 18.32 | -3.32 | 7.71 | -1.78 | 0.91 | -1.09 | 13.32 | -0.15 | 143.67 | -5.4 | 84.46 | 14.19 | 15.54 | -40.31 | 1.85 | -7.7 | 12.95 | -2.19 |
| 2021 (8) | 6.01 | 39.44 | 18.50 | 6.14 | 7.91 | 21.69 | 2.40 | -1.89 | 10.70 | 33.42 | 8.45 | 34.98 | 18.95 | 43.45 | 7.85 | 40.68 | 0.92 | 5.75 | 13.34 | 23.4 | 151.87 | 10.48 | 73.97 | -8.67 | 26.03 | 36.92 | 2.00 | -27.16 | 13.24 | 0.91 |
| 2020 (7) | 4.31 | 6.95 | 17.43 | 13.48 | 6.50 | 23.81 | 2.45 | -0.91 | 8.02 | 15.4 | 6.26 | 18.34 | 13.21 | 4.84 | 5.58 | 6.29 | 0.87 | -6.45 | 10.81 | 7.88 | 137.47 | -8.38 | 80.99 | 7.15 | 19.01 | -22.13 | 2.75 | -13.73 | 13.12 | 3.31 |
| 2019 (6) | 4.03 | 17.84 | 15.36 | 17.34 | 5.25 | 45.43 | 2.47 | 8.78 | 6.95 | 33.4 | 5.29 | 37.4 | 12.60 | 17.43 | 5.25 | 17.19 | 0.93 | -13.08 | 10.02 | 24.47 | 150.04 | -8.5 | 75.58 | 8.88 | 24.42 | -20.16 | 3.19 | 6.23 | 12.70 | 4.7 |
| 2018 (5) | 3.42 | 202.65 | 13.09 | 1.39 | 3.61 | -7.2 | 2.27 | -14.25 | 5.21 | 231.85 | 3.85 | 213.01 | 10.73 | 211.92 | 4.48 | 187.18 | 1.07 | 0.0 | 8.05 | 71.64 | 163.98 | 4.07 | 69.42 | -71.95 | 30.58 | 0 | 3.00 | 0 | 12.13 | -0.33 |
| 2017 (4) | 1.13 | -72.1 | 12.91 | -5.21 | 3.89 | -29.78 | 2.65 | -4.21 | 1.57 | -71.51 | 1.23 | -69.85 | 3.44 | -70.82 | 1.56 | -66.67 | 1.07 | -1.83 | 4.69 | -46.15 | 157.56 | -5.06 | 247.45 | 146.16 | -147.45 | 0 | 0.00 | 0 | 12.17 | 4.2 |
| 2016 (3) | 4.05 | 30.23 | 13.62 | 5.01 | 5.54 | 38.85 | 2.76 | -11.19 | 5.51 | 19.52 | 4.08 | 21.07 | 11.79 | 28.01 | 4.68 | 27.87 | 1.09 | 6.86 | 8.71 | 5.7 | 165.96 | 1.75 | 100.52 | 16.25 | -0.52 | 0 | 0.00 | 0 | 11.68 | -8.68 |
| 2015 (2) | 3.11 | 11.47 | 12.97 | 5.88 | 3.99 | 29.13 | 3.11 | 0.89 | 4.61 | 37.2 | 3.37 | 36.99 | 9.21 | 28.45 | 3.66 | 25.77 | 1.02 | -5.56 | 8.24 | 18.05 | 163.11 | -5.99 | 86.47 | -5.98 | 13.53 | 68.54 | 0.00 | 0 | 12.79 | 14.09 |
| 2014 (1) | 2.79 | -27.15 | 12.25 | 0 | 3.09 | 0 | 3.08 | 0.95 | 3.36 | 0 | 2.46 | 0 | 7.17 | 0 | 2.91 | 0 | 1.08 | 3.85 | 6.98 | -22.62 | 173.50 | 3.27 | 91.97 | 5.51 | 8.03 | -37.39 | 0.00 | 0 | 11.21 | -3.2 |
