- 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) | 1.16 | 4.5 | -10.08 | 33.78 | -3.98 | -5.77 | 23.31 | -4.7 | -13.12 | 27.39 | -5.26 | -16.19 | 23.88 | -1.53 | -14.65 | 3.99 | 6.4 | -15.47 | 2.55 | 4.51 | -14.14 | 0.10 | 0.0 | 0.0 | 49.19 | 0.02 | -3.28 | 55.85 | -13.85 | -0.9 | 85.12 | 0.62 | 3.67 | 14.88 | -3.38 | -16.84 | 17.76 | -4.31 | -8.45 |
| 24Q2 (19) | 1.11 | 32.14 | -12.6 | 35.18 | 13.74 | -2.2 | 24.46 | 14.57 | -12.14 | 28.91 | 24.18 | -11.97 | 24.25 | 27.03 | -14.13 | 3.75 | 32.51 | -19.53 | 2.44 | 27.75 | -16.72 | 0.10 | 0.0 | 0.0 | 49.18 | 11.85 | -3.76 | 64.83 | 29.84 | -6.36 | 84.60 | -7.74 | -0.24 | 15.40 | 85.54 | 1.28 | 18.56 | 2.09 | -1.8 |
| 24Q1 (18) | 0.84 | -21.5 | -35.88 | 30.93 | -4.54 | -12.77 | 21.35 | -5.57 | -20.07 | 23.28 | -12.68 | -34.03 | 19.09 | -20.49 | -36.83 | 2.83 | -23.92 | -40.3 | 1.91 | -22.04 | -37.99 | 0.10 | 0.0 | 0.0 | 43.97 | -6.31 | -18.86 | 49.93 | -10.05 | -8.54 | 91.70 | 8.14 | 21.13 | 8.30 | -45.39 | -65.84 | 18.18 | -7.24 | -6.96 |
| 23Q4 (17) | 1.07 | -17.05 | -30.97 | 32.40 | -9.62 | -24.53 | 22.61 | -15.73 | -35.1 | 26.66 | -18.42 | -26.27 | 24.01 | -14.19 | -14.83 | 3.72 | -21.19 | -36.73 | 2.45 | -17.51 | -33.78 | 0.10 | 0.0 | -23.08 | 46.93 | -7.73 | -10.16 | 55.51 | -1.51 | -5.77 | 84.80 | 3.27 | -12.01 | 15.20 | -15.05 | 319.38 | 19.60 | 1.03 | 9.74 |
| 23Q3 (16) | 1.29 | 1.57 | -41.1 | 35.85 | -0.33 | -24.21 | 26.83 | -3.63 | -32.93 | 32.68 | -0.49 | -23.82 | 27.98 | -0.92 | -22.86 | 4.72 | 1.29 | -48.36 | 2.97 | 1.37 | -45.4 | 0.10 | 0.0 | -33.33 | 50.86 | -0.47 | -12.84 | 56.36 | -18.59 | -13.01 | 82.11 | -3.17 | -11.93 | 17.89 | 17.67 | 164.54 | 19.40 | 2.65 | 16.45 |
| 23Q2 (15) | 1.27 | -3.05 | -27.01 | 35.97 | 1.44 | -22.56 | 27.84 | 4.23 | -28.78 | 32.84 | -6.94 | -7.49 | 28.24 | -6.55 | -5.3 | 4.66 | -1.69 | -36.51 | 2.93 | -4.87 | -34.16 | 0.10 | 0.0 | -33.33 | 51.10 | -5.7 | -0.93 | 69.23 | 26.82 | -9.43 | 84.80 | 12.01 | -22.99 | 15.21 | -37.42 | 250.41 | 18.90 | -3.28 | 10.59 |
| 23Q1 (14) | 1.31 | -15.48 | -18.63 | 35.46 | -17.4 | -18.24 | 26.71 | -23.34 | -24.14 | 35.29 | -2.41 | -5.36 | 30.22 | 7.2 | -4.49 | 4.74 | -19.39 | -31.1 | 3.08 | -16.76 | -28.7 | 0.10 | -23.08 | -23.08 | 54.19 | 3.73 | -3.3 | 54.59 | -7.33 | -8.64 | 75.71 | -21.45 | -19.84 | 24.30 | 570.38 | 337.32 | 19.54 | 9.41 | 9.65 |
| 22Q4 (13) | 1.55 | -29.22 | 18.32 | 42.93 | -9.24 | 9.82 | 34.84 | -12.9 | 16.87 | 36.16 | -15.71 | 17.59 | 28.19 | -22.28 | 4.1 | 5.88 | -35.67 | -1.01 | 3.70 | -31.99 | 0.82 | 0.13 | -13.33 | 0.0 | 52.24 | -10.47 | 1.22 | 58.91 | -9.08 | -9.59 | 96.38 | 3.37 | -0.57 | 3.62 | -46.41 | 18.06 | 17.86 | 7.2 | 0.96 |
| 22Q3 (12) | 2.19 | 25.86 | 53.15 | 47.30 | 1.83 | 28.71 | 40.00 | 2.33 | 47.77 | 42.90 | 20.85 | 23.31 | 36.27 | 21.63 | 16.85 | 9.14 | 24.52 | 31.13 | 5.44 | 22.25 | 29.83 | 0.15 | 0.0 | 15.38 | 58.35 | 13.13 | 2.66 | 64.79 | -15.24 | -2.5 | 93.23 | -15.33 | 19.83 | 6.76 | 166.91 | -69.52 | 16.66 | -2.52 | -8.66 |
| 22Q2 (11) | 1.74 | 8.07 | 77.55 | 46.45 | 7.1 | 48.64 | 39.09 | 11.02 | 75.92 | 35.50 | -4.8 | 36.96 | 29.82 | -5.75 | 27.93 | 7.34 | 6.69 | 51.65 | 4.45 | 3.01 | 48.33 | 0.15 | 15.38 | 25.0 | 51.58 | -7.96 | 3.62 | 76.44 | 27.93 | 1.16 | 110.11 | 16.59 | 28.42 | -10.11 | -281.95 | -170.92 | 17.09 | -4.1 | -7.47 |
| 22Q1 (10) | 1.61 | 22.9 | 89.41 | 43.37 | 10.95 | 63.48 | 35.21 | 18.11 | 117.61 | 37.29 | 21.27 | 59.91 | 31.64 | 16.84 | 50.67 | 6.88 | 15.82 | 69.04 | 4.32 | 17.71 | 63.02 | 0.13 | 0.0 | 8.33 | 56.04 | 8.58 | 13.65 | 59.75 | -8.3 | 3.18 | 94.44 | -2.56 | 36.09 | 5.56 | 80.97 | -81.84 | 17.82 | 0.73 | -5.96 |
| 21Q4 (9) | 1.31 | -8.39 | 40.86 | 39.09 | 6.37 | 63.22 | 29.81 | 10.12 | 140.4 | 30.75 | -11.61 | 23.99 | 27.08 | -12.76 | 12.65 | 5.94 | -14.78 | 24.53 | 3.67 | -12.41 | 21.93 | 0.13 | 0.0 | 8.33 | 51.61 | -9.2 | -1.13 | 65.16 | -1.94 | 8.38 | 96.93 | 24.58 | 93.93 | 3.07 | -86.17 | -93.86 | 17.69 | -3.02 | -9.47 |
| 21Q3 (8) | 1.43 | 45.92 | 90.67 | 36.75 | 17.6 | 68.81 | 27.07 | 21.83 | 70.25 | 34.79 | 34.22 | 69.54 | 31.04 | 33.16 | 54.58 | 6.97 | 44.01 | 66.35 | 4.19 | 39.67 | 64.31 | 0.13 | 8.33 | 8.33 | 56.84 | 14.18 | 16.67 | 66.45 | -12.06 | -0.36 | 77.81 | -9.26 | 0.43 | 22.19 | 55.67 | -1.48 | 18.24 | -1.25 | -5.2 |
| 21Q2 (7) | 0.98 | 15.29 | 78.18 | 31.25 | 17.79 | 35.22 | 22.22 | 37.33 | 68.72 | 25.92 | 11.15 | 72.68 | 23.31 | 11.0 | 71.02 | 4.84 | 18.92 | 68.06 | 3.00 | 13.21 | 68.54 | 0.12 | 0.0 | 0.0 | 49.78 | 0.95 | 13.6 | 75.56 | 30.48 | -0.17 | 85.74 | 23.55 | -2.26 | 14.26 | -53.41 | 16.14 | 18.47 | -2.53 | 4.29 |
| 21Q1 (6) | 0.85 | -8.6 | 347.37 | 26.53 | 10.77 | 38.03 | 16.18 | 30.48 | 100.25 | 23.32 | -5.97 | 1102.06 | 21.00 | -12.65 | 621.65 | 4.07 | -14.68 | 589.83 | 2.65 | -11.96 | 452.08 | 0.12 | 0.0 | 0.0 | 49.31 | -5.54 | 49.38 | 57.91 | -3.68 | -18.41 | 69.40 | 38.85 | -83.29 | 30.60 | -38.82 | 109.7 | 18.95 | -3.02 | 1.88 |
| 20Q4 (5) | 0.93 | 24.0 | 181.82 | 23.95 | 10.01 | 43.84 | 12.40 | -22.01 | 157.26 | 24.80 | 20.86 | 250.28 | 24.04 | 19.72 | 218.83 | 4.77 | 13.84 | 211.76 | 3.01 | 18.04 | 201.0 | 0.12 | 0.0 | 9.09 | 52.20 | 7.14 | 32.66 | 60.12 | -9.85 | -23.56 | 49.98 | -35.48 | -26.59 | 50.02 | 122.04 | 56.55 | 19.54 | 1.56 | 8.5 |
| 20Q3 (4) | 0.75 | 36.36 | 0.0 | 21.77 | -5.8 | 0.0 | 15.90 | 20.73 | 0.0 | 20.52 | 36.71 | 0.0 | 20.08 | 47.32 | 0.0 | 4.19 | 45.49 | 0.0 | 2.55 | 43.26 | 0.0 | 0.12 | 0.0 | 0.0 | 48.72 | 11.18 | 0.0 | 66.69 | -11.89 | 0.0 | 77.47 | -11.69 | 0.0 | 22.53 | 83.52 | 0.0 | 19.24 | 8.64 | 0.0 |
| 20Q2 (3) | 0.55 | 189.47 | 0.0 | 23.11 | 20.24 | 0.0 | 13.17 | 63.0 | 0.0 | 15.01 | 673.71 | 0.0 | 13.63 | 368.38 | 0.0 | 2.88 | 388.14 | 0.0 | 1.78 | 270.83 | 0.0 | 0.12 | 0.0 | 0.0 | 43.82 | 32.75 | 0.0 | 75.69 | 6.64 | 0.0 | 87.73 | -78.88 | 0.0 | 12.27 | 103.89 | 0.0 | 17.71 | -4.78 | 0.0 |
| 20Q1 (2) | 0.19 | -42.42 | 0.0 | 19.22 | 15.44 | 0.0 | 8.08 | 67.63 | 0.0 | 1.94 | -72.6 | 0.0 | 2.91 | -61.41 | 0.0 | 0.59 | -61.44 | 0.0 | 0.48 | -52.0 | 0.0 | 0.12 | 9.09 | 0.0 | 33.01 | -16.11 | 0.0 | 70.98 | -9.75 | 0.0 | 415.33 | 510.03 | 0.0 | -315.33 | -1086.94 | 0.0 | 18.60 | 3.28 | 0.0 |
| 19Q4 (1) | 0.33 | 0.0 | 0.0 | 16.65 | 0.0 | 0.0 | 4.82 | 0.0 | 0.0 | 7.08 | 0.0 | 0.0 | 7.54 | 0.0 | 0.0 | 1.53 | 0.0 | 0.0 | 1.00 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 39.35 | 0.0 | 0.0 | 78.65 | 0.0 | 0.0 | 68.08 | 0.0 | 0.0 | 31.95 | 0.0 | 0.0 | 18.01 | 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) | 4.93 | -30.47 | 34.94 | -22.56 | 26.01 | -30.49 | 16.97 | 14.42 | 31.87 | -16.29 | 27.61 | -12.57 | 17.68 | -38.07 | 11.48 | -36.04 | 0.41 | -26.79 | 50.76 | -7.02 | 55.51 | -5.77 | 81.64 | -16.95 | 18.36 | 979.4 | 0.78 | -2.49 | 19.36 | 11.71 |
| 2022 (9) | 7.09 | 55.14 | 45.12 | 33.41 | 37.42 | 54.25 | 14.83 | -28.5 | 38.07 | 31.23 | 31.58 | 22.07 | 28.55 | 33.91 | 17.95 | 33.36 | 0.56 | 9.8 | 54.59 | 4.9 | 58.91 | -9.59 | 98.30 | 17.54 | 1.70 | -89.61 | 0.80 | 2.18 | 17.33 | -5.3 |
| 2021 (8) | 4.57 | 88.84 | 33.82 | 53.38 | 24.26 | 94.86 | 20.74 | -20.56 | 29.01 | 83.72 | 25.87 | 68.31 | 21.32 | 73.76 | 13.46 | 74.58 | 0.51 | 8.51 | 52.04 | 16.6 | 65.16 | 8.38 | 83.63 | 6.12 | 16.37 | -22.77 | 0.78 | -39.26 | 18.30 | -2.56 |
| 2020 (7) | 2.42 | 195.12 | 22.05 | 53.34 | 12.45 | 293.99 | 26.11 | -17.98 | 15.79 | 308.01 | 15.37 | 271.26 | 12.27 | 314.53 | 7.71 | 232.33 | 0.47 | 17.5 | 44.63 | 13.79 | 60.12 | -23.56 | 78.80 | -3.62 | 21.20 | 16.23 | 1.29 | -7.98 | 18.78 | -0.53 |
| 2019 (6) | 0.82 | 41.38 | 14.38 | -4.77 | 3.16 | -17.49 | 31.83 | -3.61 | 3.87 | 168.75 | 4.14 | 136.57 | 2.96 | 134.92 | 2.32 | 78.46 | 0.40 | 0.0 | 39.22 | 3.92 | 78.65 | 2.77 | 81.76 | -69.2 | 18.24 | 0 | 1.40 | 71.11 | 18.88 | 0.05 |
| 2018 (5) | 0.58 | -26.58 | 15.10 | -16.67 | 3.83 | -12.95 | 33.02 | -3.27 | 1.44 | -72.41 | 1.75 | -60.59 | 1.26 | -58.82 | 1.30 | -41.7 | 0.40 | 5.26 | 37.74 | -11.12 | 76.53 | -9.03 | 265.43 | 215.14 | -165.43 | 0 | 0.82 | 0 | 18.87 | 5.54 |
| 2017 (4) | 0.79 | 16.18 | 18.12 | -11.78 | 4.40 | 5.01 | 34.14 | 1.59 | 5.22 | 59.15 | 4.44 | 70.11 | 3.06 | 76.88 | 2.23 | 60.43 | 0.38 | -7.32 | 42.46 | 7.79 | 84.13 | 9.6 | 84.23 | -34.09 | 15.77 | 0 | 0.00 | 0 | 17.88 | 8.3 |
| 2016 (3) | 0.68 | -37.04 | 20.54 | -6.34 | 4.19 | -43.98 | 33.60 | 11.95 | 3.28 | -65.36 | 2.61 | -70.54 | 1.73 | -69.43 | 1.39 | -65.93 | 0.41 | -8.89 | 39.39 | -4.46 | 76.76 | 61.8 | 127.79 | 61.71 | -27.79 | 0 | 0.00 | 0 | 16.51 | 1.1 |
| 2015 (2) | 1.08 | 11.34 | 21.93 | -3.6 | 7.48 | 3.89 | 30.02 | 8.36 | 9.47 | -1.87 | 8.86 | 8.05 | 5.66 | 7.81 | 4.08 | 2.77 | 0.45 | -2.17 | 41.23 | 5.12 | 47.44 | 20.99 | 79.03 | 5.98 | 20.97 | -17.54 | 0.00 | 0 | 16.33 | 2.32 |
| 2014 (1) | 0.97 | -3.96 | 22.75 | 0 | 7.20 | 0 | 27.70 | -7.9 | 9.65 | 0 | 8.20 | 0 | 5.25 | 0 | 3.97 | 0 | 0.46 | 6.98 | 39.22 | -9.19 | 39.21 | -0.2 | 74.57 | 165.6 | 25.43 | -64.64 | 0.00 | 0 | 15.96 | -0.62 |
