- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q1 (20) | 11.02 | -3.16 | 11.31 | 33.80 | -1.94 | 2.42 | 17.41 | -6.15 | -7.69 | 21.33 | -6.41 | 2.4 | 16.24 | -6.93 | 2.53 | 3.37 | -2.88 | -0.88 | 1.53 | -7.27 | -3.77 | 0.08 | 0.0 | -11.11 | 31.84 | -5.13 | 4.67 | 147.54 | 3.51 | 8.57 | 81.66 | 0.32 | -9.79 | 18.34 | -1.41 | 93.95 | 23.55 | -1.17 | 2.88 |
| 23Q4 (19) | 11.38 | -1.9 | 40.49 | 34.47 | 3.7 | -5.56 | 18.55 | -5.74 | -9.91 | 22.79 | -0.65 | 2.01 | 17.45 | -3.22 | 20.76 | 3.47 | -5.96 | 0.58 | 1.65 | -6.25 | 1.85 | 0.08 | -11.11 | -20.0 | 33.56 | 1.7 | 9.74 | 142.54 | 12.6 | 11.32 | 81.40 | -5.12 | -11.67 | 18.60 | 30.92 | 136.9 | 23.83 | 4.89 | 23.54 |
| 23Q3 (18) | 11.60 | 30.04 | -4.13 | 33.24 | 0.18 | -13.66 | 19.68 | 3.52 | -21.06 | 22.94 | -4.77 | -14.5 | 18.03 | 29.99 | -13.28 | 3.69 | 24.24 | -33.51 | 1.76 | 25.71 | -28.46 | 0.09 | 0.0 | -18.18 | 33.00 | -2.86 | -3.59 | 126.59 | -4.3 | -3.71 | 85.79 | 8.73 | -7.66 | 14.21 | -32.61 | 100.72 | 22.72 | -3.28 | 5.28 |
| 23Q2 (17) | 8.92 | -9.9 | -19.28 | 33.18 | 0.55 | -14.48 | 19.01 | 0.8 | -24.5 | 24.09 | 15.65 | -9.81 | 13.87 | -12.44 | -26.73 | 2.97 | -12.65 | -45.9 | 1.40 | -11.95 | -40.68 | 0.09 | 0.0 | -25.0 | 33.97 | 11.67 | 1.34 | 132.28 | -2.66 | -4.99 | 78.90 | -12.84 | -16.3 | 21.09 | 122.96 | 267.56 | 23.49 | 2.62 | 9.0 |
| 23Q1 (16) | 9.90 | 22.22 | -14.58 | 33.00 | -9.59 | -13.41 | 18.86 | -8.4 | -24.07 | 20.83 | -6.76 | -22.07 | 15.84 | 9.62 | -23.88 | 3.40 | -1.45 | -44.54 | 1.59 | -1.85 | -38.61 | 0.09 | -10.0 | -25.0 | 30.42 | -0.52 | -10.16 | 135.90 | 6.14 | -4.98 | 90.52 | -1.76 | -2.6 | 9.46 | 20.42 | 33.9 | 22.89 | 18.66 | 10.1 |
| 22Q4 (15) | 8.10 | -33.06 | -15.71 | 36.50 | -5.19 | 6.17 | 20.59 | -17.41 | 23.81 | 22.34 | -16.73 | 76.18 | 14.45 | -30.5 | 66.09 | 3.45 | -37.84 | 34.77 | 1.62 | -34.15 | 44.64 | 0.10 | -9.09 | -16.67 | 30.58 | -10.66 | 49.32 | 128.04 | -2.61 | -11.27 | 92.15 | -0.82 | -29.74 | 7.85 | 10.93 | 125.22 | 19.29 | -10.61 | -25.75 |
| 22Q3 (14) | 12.10 | 9.5 | -12.82 | 38.50 | -0.77 | -4.16 | 24.93 | -0.99 | -8.45 | 26.83 | 0.45 | -2.4 | 20.79 | 9.83 | -1.33 | 5.55 | 1.09 | -25.7 | 2.46 | 4.24 | -19.61 | 0.11 | -8.33 | -21.43 | 34.23 | 2.12 | 1.0 | 131.47 | -5.57 | -10.87 | 92.91 | -1.44 | -6.2 | 7.08 | 23.41 | 636.05 | 21.58 | 0.14 | 11.81 |
| 22Q2 (13) | 11.05 | -4.66 | -13.81 | 38.80 | 1.81 | -3.05 | 25.18 | 1.37 | -5.94 | 26.71 | -0.07 | -3.36 | 18.93 | -9.03 | -10.03 | 5.49 | -10.44 | -24.38 | 2.36 | -8.88 | -21.85 | 0.12 | 0.0 | -14.29 | 33.52 | -1.0 | -1.64 | 139.23 | -2.66 | -10.35 | 94.26 | 1.43 | -2.66 | 5.74 | -18.78 | 81.65 | 21.55 | 3.66 | -17.46 |
| 22Q1 (12) | 11.59 | 20.6 | 14.41 | 38.11 | 10.85 | 1.55 | 24.84 | 49.37 | 6.15 | 26.73 | 110.8 | 6.2 | 20.81 | 139.2 | 6.34 | 6.13 | 139.45 | -8.92 | 2.59 | 131.25 | -6.5 | 0.12 | 0.0 | -14.29 | 33.86 | 65.33 | 2.64 | 143.03 | -0.89 | 1.36 | 92.94 | -29.13 | -0.05 | 7.06 | 122.68 | 0.64 | 20.79 | -19.98 | 44.88 |
| 21Q4 (11) | 9.61 | -30.76 | 22.11 | 34.38 | -14.41 | -9.48 | 16.63 | -38.93 | -27.35 | 12.68 | -53.87 | -32.08 | 8.70 | -58.71 | -47.87 | 2.56 | -65.73 | -53.62 | 1.12 | -63.4 | -46.92 | 0.12 | -14.29 | 0.0 | 20.48 | -39.57 | -21.23 | 144.31 | -2.17 | -15.52 | 131.14 | 32.4 | 6.96 | -31.14 | -3337.77 | -37.75 | 25.98 | 34.61 | -22.31 |
| 21Q3 (10) | 13.88 | 8.27 | 156.09 | 40.17 | 0.37 | 27.0 | 27.23 | 1.72 | 40.87 | 27.49 | -0.54 | 69.07 | 21.07 | 0.14 | 72.99 | 7.47 | 2.89 | 80.87 | 3.06 | 1.32 | 96.15 | 0.14 | 0.0 | 16.67 | 33.89 | -0.56 | 41.86 | 147.51 | -5.02 | -17.22 | 99.05 | 2.28 | -16.7 | 0.96 | -69.54 | 105.09 | 19.30 | -26.08 | 95.15 |
| 21Q2 (9) | 12.82 | 26.55 | 82.88 | 40.02 | 6.63 | -9.7 | 26.77 | 14.4 | -16.68 | 27.64 | 9.81 | -10.81 | 21.04 | 7.51 | -14.23 | 7.26 | 7.88 | 15.79 | 3.02 | 9.03 | 26.36 | 0.14 | 0.0 | 55.56 | 34.08 | 3.3 | -10.72 | 155.31 | 10.06 | -16.92 | 96.84 | 4.15 | -6.6 | 3.16 | -55.0 | 185.6 | 26.11 | 81.95 | 0 |
| 21Q1 (8) | 10.13 | 28.72 | 83.85 | 37.53 | -1.18 | -6.87 | 23.40 | 2.23 | -8.45 | 25.17 | 34.82 | -12.15 | 19.57 | 17.26 | -16.55 | 6.73 | 21.92 | 26.27 | 2.77 | 31.28 | 14.46 | 0.14 | 16.67 | 40.0 | 32.99 | 26.88 | -10.43 | 141.11 | -17.39 | -6.21 | 92.98 | -24.16 | 4.2 | 7.02 | 131.04 | -34.79 | 14.35 | -57.09 | -24.15 |
| 20Q4 (7) | 7.87 | 45.2 | 274.76 | 37.98 | 20.08 | 13.31 | 22.89 | 18.42 | 36.01 | 18.67 | 14.82 | 85.77 | 16.69 | 37.03 | 87.11 | 5.52 | 33.66 | 183.08 | 2.11 | 35.26 | 119.79 | 0.12 | 0.0 | 20.0 | 26.00 | 8.83 | 32.92 | 170.82 | -4.14 | 57.57 | 122.61 | 3.11 | -26.77 | -22.61 | -19.57 | 66.47 | 33.44 | 238.12 | 71.84 |
| 20Q3 (6) | 5.42 | -22.68 | 12.68 | 31.63 | -28.63 | 2.16 | 19.33 | -39.84 | 19.62 | 16.26 | -47.53 | -35.12 | 12.18 | -50.35 | -41.55 | 4.13 | -34.13 | -13.05 | 1.56 | -34.73 | -19.17 | 0.12 | 33.33 | 33.33 | 23.89 | -37.41 | -27.1 | 178.20 | -4.68 | 23.28 | 118.91 | 14.68 | 84.39 | -18.91 | -412.47 | -153.24 | 9.89 | 0 | -53.35 |
| 20Q2 (5) | 7.01 | 27.22 | 109.88 | 44.32 | 9.98 | 36.03 | 32.13 | 25.7 | 83.29 | 30.99 | 8.17 | 29.02 | 24.53 | 4.61 | 65.52 | 6.27 | 17.64 | 137.5 | 2.39 | -1.24 | 92.74 | 0.09 | -10.0 | 12.5 | 38.17 | 3.64 | 15.18 | 186.95 | 24.26 | 9.82 | 103.69 | 16.2 | 42.1 | -3.69 | -134.28 | -113.65 | 0.00 | -100.0 | -100.0 |
| 20Q1 (4) | 5.51 | 162.38 | 0.0 | 40.30 | 20.23 | 0.0 | 25.56 | 51.87 | 0.0 | 28.65 | 185.07 | 0.0 | 23.45 | 162.89 | 0.0 | 5.33 | 173.33 | 0.0 | 2.42 | 152.08 | 0.0 | 0.10 | 0.0 | 0.0 | 36.83 | 88.29 | 0.0 | 150.45 | 38.78 | 0.0 | 89.24 | -46.7 | 0.0 | 10.76 | 115.96 | 0.0 | 18.92 | -2.77 | 0.0 |
| 19Q4 (3) | 2.10 | -56.34 | 0.0 | 33.52 | 8.27 | 0.0 | 16.83 | 4.15 | 0.0 | 10.05 | -59.9 | 0.0 | 8.92 | -57.2 | 0.0 | 1.95 | -58.95 | 0.0 | 0.96 | -50.26 | 0.0 | 0.10 | 11.11 | 0.0 | 19.56 | -40.31 | 0.0 | 108.41 | -25.0 | 0.0 | 167.43 | 159.63 | 0.0 | -67.43 | -289.87 | 0.0 | 19.46 | -8.21 | 0.0 |
| 19Q3 (2) | 4.81 | 44.01 | 0.0 | 30.96 | -4.97 | 0.0 | 16.16 | -7.82 | 0.0 | 25.06 | 4.33 | 0.0 | 20.84 | 40.62 | 0.0 | 4.75 | 79.92 | 0.0 | 1.93 | 55.65 | 0.0 | 0.09 | 12.5 | 0.0 | 32.77 | -1.12 | 0.0 | 144.55 | -15.09 | 0.0 | 64.49 | -11.62 | 0.0 | 35.51 | 31.37 | 0.0 | 21.20 | 6.75 | 0.0 |
| 19Q2 (1) | 3.34 | 0.0 | 0.0 | 32.58 | 0.0 | 0.0 | 17.53 | 0.0 | 0.0 | 24.02 | 0.0 | 0.0 | 14.82 | 0.0 | 0.0 | 2.64 | 0.0 | 0.0 | 1.24 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | 33.14 | 0.0 | 0.0 | 170.24 | 0.0 | 0.0 | 72.97 | 0.0 | 0.0 | 27.03 | 0.0 | 0.0 | 19.86 | 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) | 41.80 | -5.47 | 33.48 | -11.89 | 19.02 | -20.55 | 7.30 | 26.37 | 22.67 | -11.82 | 16.32 | -13.19 | 13.60 | -34.01 | 6.34 | -30.63 | 0.35 | -25.53 | 32.76 | -1.0 | 142.54 | 11.32 | 83.91 | -9.9 | 16.09 | 134.11 | 27.84 | 6.93 | 23.23 | 11.52 |
| 2022 (9) | 44.22 | -4.82 | 38.00 | -0.42 | 23.94 | 0.93 | 5.77 | 2.38 | 25.71 | 9.45 | 18.80 | 5.68 | 20.61 | -20.42 | 9.14 | -13.36 | 0.47 | -17.54 | 33.09 | 8.28 | 128.04 | -11.27 | 93.13 | -7.77 | 6.87 | 0 | 26.04 | -4.79 | 20.83 | -3.21 |
| 2021 (8) | 46.46 | 82.05 | 38.16 | 1.68 | 23.72 | -1.04 | 5.64 | -4.69 | 23.49 | 7.65 | 17.79 | 0.06 | 25.90 | 23.39 | 10.55 | 17.61 | 0.57 | 18.75 | 30.56 | 4.16 | 144.31 | -15.52 | 100.97 | -8.1 | -0.97 | 0 | 27.35 | -14.14 | 21.52 | 7.92 |
| 2020 (7) | 25.52 | 56.09 | 37.53 | 4.89 | 23.97 | 23.3 | 5.92 | -10.11 | 21.82 | -0.09 | 17.78 | 4.16 | 20.99 | 57.23 | 8.97 | 32.11 | 0.48 | 26.32 | 29.34 | -3.1 | 170.82 | 57.57 | 109.87 | 23.44 | -9.87 | 0 | 31.85 | 18.48 | 19.94 | 5.95 |
| 2019 (6) | 16.35 | -79.64 | 35.78 | -43.48 | 19.44 | -59.36 | 6.58 | -32.28 | 21.84 | -57.76 | 17.07 | -61.08 | 13.35 | -82.09 | 6.79 | -80.85 | 0.38 | -52.5 | 30.28 | -51.36 | 108.41 | 0.27 | 89.01 | -3.79 | 10.99 | 46.84 | 26.89 | 25.96 | 18.82 | 103.9 |
| 2018 (5) | 80.30 | 399.07 | 63.31 | 94.56 | 47.84 | 103.23 | 9.72 | 75.97 | 51.71 | 113.24 | 43.86 | 111.78 | 74.56 | 203.09 | 35.45 | 210.42 | 0.80 | 50.94 | 62.25 | 101.46 | 108.12 | -11.7 | 92.51 | -4.7 | 7.49 | 155.74 | 21.34 | 0 | 9.23 | -43.92 |
| 2017 (4) | 16.09 | 135.58 | 32.54 | 37.88 | 23.54 | 80.94 | 5.52 | -16.36 | 24.25 | 49.78 | 20.71 | 59.68 | 24.60 | 64.77 | 11.42 | 50.46 | 0.53 | -5.36 | 30.90 | 30.32 | 122.44 | -1.82 | 97.07 | 20.84 | 2.93 | -85.12 | 0.00 | 0 | 16.46 | -7.79 |
| 2016 (3) | 6.83 | 24.64 | 23.60 | -0.72 | 13.01 | 0.93 | 6.60 | -8.32 | 16.19 | -2.41 | 12.97 | -2.85 | 14.93 | 3.68 | 7.59 | -2.44 | 0.56 | 0.0 | 23.71 | -5.69 | 124.71 | 41.8 | 80.33 | 3.37 | 19.67 | -11.74 | 0.00 | 0 | 17.85 | -5.56 |
| 2015 (2) | 5.48 | 138.26 | 23.77 | -8.86 | 12.89 | -13.55 | 7.20 | 2.04 | 16.59 | -7.27 | 13.35 | -7.36 | 14.40 | 1.77 | 7.78 | 5.56 | 0.56 | 14.29 | 25.14 | -6.33 | 87.95 | -12.28 | 77.71 | -6.81 | 22.29 | 34.01 | 0.00 | 0 | 18.90 | 5.12 |
| 2014 (1) | 2.30 | 206.67 | 26.08 | 0 | 14.91 | 0 | 7.06 | -14.19 | 17.89 | 0 | 14.41 | 0 | 14.15 | 0 | 7.37 | 0 | 0.49 | 6.52 | 26.84 | 47.96 | 100.26 | 0.03 | 83.39 | -38.64 | 16.63 | 0 | 0.00 | 0 | 17.98 | 6.45 |
