- 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) | 16.83 | 5.92 | 12.65 | 17.94 | -7.24 | -1.97 | 7.01 | -11.6 | 4.63 | 9.55 | -11.57 | -8.7 | 7.85 | -9.14 | -9.46 | 4.49 | 2.05 | -6.65 | 2.45 | 1.24 | -0.41 | 0.31 | 10.71 | 10.71 | 10.18 | -10.7 | -8.37 | 87.94 | 1.01 | -6.55 | 73.41 | -0.09 | 14.69 | 26.59 | 0.27 | -26.12 | 5.85 | -19.31 | -13.97 |
| 24Q2 (19) | 15.89 | 116.78 | 356.61 | 19.34 | 20.5 | 38.34 | 7.93 | 99.25 | 435.81 | 10.80 | 80.6 | 298.52 | 8.64 | 69.08 | 224.81 | 4.40 | 90.48 | 235.88 | 2.42 | 87.6 | 255.88 | 0.28 | 12.0 | 12.0 | 11.40 | 71.17 | 231.4 | 87.06 | 9.61 | -14.06 | 73.47 | 10.27 | 34.39 | 26.52 | -20.56 | -41.45 | 7.25 | -2.82 | -7.29 |
| 24Q1 (18) | 7.33 | 38.56 | 424.34 | 16.05 | -7.23 | 66.84 | 3.98 | 35.84 | 242.14 | 5.98 | 14.78 | 567.19 | 5.11 | 40.0 | 544.35 | 2.31 | 34.3 | 512.5 | 1.29 | 38.71 | 660.87 | 0.25 | 0.0 | 4.17 | 6.66 | 12.69 | 1517.02 | 79.43 | -6.96 | -19.41 | 66.63 | 18.23 | -69.49 | 33.38 | -23.51 | 128.19 | 7.46 | 0.27 | 4.48 |
| 23Q4 (17) | 5.29 | -64.59 | 202.72 | 17.30 | -5.46 | 80.02 | 2.93 | -56.27 | 187.2 | 5.21 | -50.19 | 295.86 | 3.65 | -57.9 | 234.69 | 1.72 | -64.24 | 214.67 | 0.93 | -62.2 | 238.81 | 0.25 | -10.71 | -3.85 | 5.91 | -46.8 | 407.81 | 85.37 | -9.28 | -20.7 | 56.35 | -11.95 | -55.43 | 43.65 | 21.26 | 265.09 | 7.44 | 9.41 | 23.59 |
| 23Q3 (16) | 14.94 | 329.31 | 79.35 | 18.30 | 30.9 | 44.55 | 6.70 | 352.7 | 153.79 | 10.46 | 285.98 | 88.47 | 8.67 | 225.94 | 84.47 | 4.81 | 267.18 | 60.33 | 2.46 | 261.76 | 76.98 | 0.28 | 12.0 | 0.0 | 11.11 | 222.97 | 77.76 | 94.10 | -7.11 | -19.37 | 64.01 | 17.07 | 34.56 | 35.99 | -20.53 | -31.35 | 6.80 | -13.04 | 46.55 |
| 23Q2 (15) | 3.48 | 253.98 | 36.47 | 13.98 | 45.32 | -0.21 | 1.48 | 152.86 | -31.8 | 2.71 | 311.72 | 5.86 | 2.66 | 331.3 | 35.71 | 1.31 | 333.93 | 27.18 | 0.68 | 395.65 | 36.0 | 0.25 | 4.17 | 0.0 | 3.44 | 831.91 | 9.21 | 101.30 | 2.78 | -23.64 | 54.67 | -74.97 | -35.51 | 45.30 | 138.25 | 197.44 | 7.82 | 9.52 | 29.68 |
| 23Q1 (14) | -2.26 | 56.12 | -116.1 | 9.62 | 0.1 | -48.42 | -2.80 | 16.67 | -136.32 | -1.28 | 51.88 | -112.93 | -1.15 | 57.56 | -114.5 | -0.56 | 62.67 | -112.93 | -0.23 | 65.67 | -110.65 | 0.24 | -7.69 | -11.11 | -0.47 | 75.52 | -104.51 | 98.56 | -8.45 | 0.16 | 218.40 | 72.74 | 180.49 | -118.40 | -347.87 | -634.91 | 7.14 | 18.6 | 3.63 |
| 22Q4 (13) | -5.15 | -161.82 | -131.73 | 9.61 | -24.09 | -51.9 | -3.36 | -227.27 | -139.53 | -2.66 | -147.93 | -127.34 | -2.71 | -157.66 | -132.49 | -1.50 | -150.0 | -128.2 | -0.67 | -148.2 | -125.38 | 0.26 | -7.14 | -18.75 | -1.92 | -130.72 | -119.12 | 107.66 | -7.75 | 2.95 | 126.44 | 165.81 | 44.81 | -26.44 | -150.42 | -308.22 | 6.02 | 29.74 | 27.27 |
| 22Q3 (12) | 8.33 | 226.67 | -45.38 | 12.66 | -9.64 | -33.51 | 2.64 | 21.66 | -67.96 | 5.55 | 116.8 | -51.14 | 4.70 | 139.8 | -45.16 | 3.00 | 191.26 | -43.93 | 1.39 | 178.0 | -46.54 | 0.28 | 12.0 | -6.67 | 6.25 | 98.41 | -49.23 | 116.70 | -12.03 | 16.99 | 47.57 | -43.89 | -34.41 | 52.43 | 244.32 | 90.8 | 4.64 | -23.05 | -22.67 |
| 22Q2 (11) | 2.55 | -81.84 | -83.34 | 14.01 | -24.88 | -35.26 | 2.17 | -71.85 | -79.33 | 2.56 | -74.14 | -79.12 | 1.96 | -75.28 | -78.74 | 1.03 | -76.21 | -80.57 | 0.50 | -76.85 | -81.13 | 0.25 | -7.41 | -13.79 | 3.15 | -69.74 | -75.94 | 132.66 | 34.82 | 16.79 | 84.77 | 8.87 | -1.06 | 15.23 | -31.21 | 6.35 | 6.03 | -12.48 | -9.6 |
| 22Q1 (10) | 14.04 | -13.49 | 6.53 | 18.65 | -6.66 | -15.92 | 7.71 | -9.29 | -22.2 | 9.90 | 1.75 | -10.16 | 7.93 | -4.92 | -9.89 | 4.33 | -18.61 | -5.87 | 2.16 | -18.18 | -12.55 | 0.27 | -15.62 | -3.57 | 10.41 | 3.69 | -11.78 | 98.40 | -5.91 | 10.3 | 77.86 | -10.82 | -13.36 | 22.14 | 74.34 | 118.56 | 6.89 | 45.67 | -7.89 |
| 21Q4 (9) | 16.23 | 6.43 | 22.4 | 19.98 | 4.94 | 11.31 | 8.50 | 3.16 | 37.32 | 9.73 | -14.35 | 16.25 | 8.34 | -2.68 | -1.3 | 5.32 | -0.56 | 24.59 | 2.64 | 1.54 | 18.39 | 0.32 | 6.67 | 3.23 | 10.04 | -18.44 | 10.21 | 104.58 | 4.84 | 23.43 | 87.31 | 20.39 | 18.15 | 12.70 | -53.8 | -51.35 | 4.73 | -21.17 | -9.21 |
| 21Q3 (8) | 15.25 | -0.39 | 7.77 | 19.04 | -12.01 | 5.02 | 8.24 | -21.52 | 12.11 | 11.36 | -7.34 | 2.62 | 8.57 | -7.05 | -1.15 | 5.35 | 0.94 | -4.12 | 2.60 | -1.89 | -7.47 | 0.30 | 3.45 | -11.76 | 12.31 | -5.96 | 4.41 | 99.75 | -12.18 | 0.77 | 72.53 | -15.35 | 9.26 | 27.48 | 91.91 | -18.27 | 6.00 | -10.04 | -5.66 |
| 21Q2 (7) | 15.31 | 16.16 | 113.83 | 21.64 | -2.43 | 25.52 | 10.50 | 5.95 | 90.56 | 12.26 | 11.25 | 54.21 | 9.22 | 4.77 | 44.06 | 5.30 | 15.22 | 69.33 | 2.65 | 7.29 | 61.59 | 0.29 | 3.57 | 7.41 | 13.09 | 10.93 | 47.24 | 113.59 | 27.33 | 12.99 | 85.68 | -4.66 | 23.76 | 14.32 | 41.38 | -53.49 | 6.67 | -10.83 | 0 |
| 21Q1 (6) | 13.18 | -0.6 | 998.33 | 22.18 | 23.57 | 27.99 | 9.91 | 60.1 | 138.22 | 11.02 | 31.66 | 445.54 | 8.80 | 4.14 | 467.74 | 4.60 | 7.73 | 784.62 | 2.47 | 10.76 | 782.14 | 0.28 | -9.68 | 33.33 | 11.80 | 29.53 | 260.86 | 89.21 | 5.29 | 8.24 | 89.87 | 21.61 | -56.36 | 10.13 | -61.2 | 109.56 | 7.48 | 43.57 | -14.61 |
| 20Q4 (5) | 13.26 | -6.29 | 273.52 | 17.95 | -0.99 | 20.71 | 6.19 | -15.78 | 164.53 | 8.37 | -24.39 | 91.1 | 8.45 | -2.54 | 185.47 | 4.27 | -23.48 | 133.33 | 2.23 | -20.64 | 132.29 | 0.31 | -8.82 | 10.71 | 9.11 | -22.73 | 74.19 | 84.73 | -14.41 | -7.95 | 73.90 | 11.33 | 38.45 | 26.10 | -22.37 | -44.02 | 5.21 | -18.08 | -20.94 |
| 20Q3 (4) | 14.15 | 97.63 | 0.0 | 18.13 | 5.16 | 0.0 | 7.35 | 33.39 | 0.0 | 11.07 | 39.25 | 0.0 | 8.67 | 35.47 | 0.0 | 5.58 | 78.27 | 0.0 | 2.81 | 71.34 | 0.0 | 0.34 | 25.93 | 0.0 | 11.79 | 32.62 | 0.0 | 98.99 | -1.53 | 0.0 | 66.38 | -4.12 | 0.0 | 33.62 | 9.22 | 0.0 | 6.36 | 0 | 0.0 |
| 20Q2 (3) | 7.16 | 496.67 | 0.0 | 17.24 | -0.52 | 0.0 | 5.51 | 32.45 | 0.0 | 7.95 | 293.56 | 0.0 | 6.40 | 312.9 | 0.0 | 3.13 | 501.92 | 0.0 | 1.64 | 485.71 | 0.0 | 0.27 | 28.57 | 0.0 | 8.89 | 171.87 | 0.0 | 100.53 | 21.97 | 0.0 | 69.23 | -66.39 | 0.0 | 30.78 | 129.06 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 1.20 | -66.2 | 0.0 | 17.33 | 16.54 | 0.0 | 4.16 | 77.78 | 0.0 | 2.02 | -53.88 | 0.0 | 1.55 | -47.64 | 0.0 | 0.52 | -71.58 | 0.0 | 0.28 | -70.83 | 0.0 | 0.21 | -25.0 | 0.0 | 3.27 | -37.48 | 0.0 | 82.42 | -10.46 | 0.0 | 205.95 | 285.84 | 0.0 | -105.95 | -327.25 | 0.0 | 8.76 | 32.93 | 0.0 |
| 19Q4 (1) | 3.55 | 0.0 | 0.0 | 14.87 | 0.0 | 0.0 | 2.34 | 0.0 | 0.0 | 4.38 | 0.0 | 0.0 | 2.96 | 0.0 | 0.0 | 1.83 | 0.0 | 0.0 | 0.96 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 5.23 | 0.0 | 0.0 | 92.05 | 0.0 | 0.0 | 53.38 | 0.0 | 0.0 | 46.62 | 0.0 | 0.0 | 6.59 | 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) | 21.44 | 8.39 | 15.01 | 8.77 | 2.31 | -4.55 | 0.47 | 16.99 | 4.58 | 13.93 | 3.71 | 18.53 | 7.36 | 3.52 | 3.88 | 8.38 | 1.01 | -8.18 | 5.30 | 13.98 | 85.37 | -20.7 | 50.53 | -15.86 | 49.47 | 23.87 | 0.56 | 27.89 | 7.28 | 24.02 |
| 2022 (9) | 19.78 | -67.02 | 13.80 | -33.04 | 2.42 | -73.75 | 0.40 | -32.44 | 4.02 | -63.59 | 3.13 | -64.06 | 7.11 | -64.84 | 3.58 | -65.51 | 1.10 | -7.56 | 4.65 | -60.39 | 107.66 | 2.95 | 60.06 | -28.06 | 39.94 | 141.72 | 0.44 | 0.75 | 5.87 | -4.08 |
| 2021 (8) | 59.98 | 67.73 | 20.61 | 16.18 | 9.22 | 52.4 | 0.59 | -15.58 | 11.04 | 37.66 | 8.71 | 26.6 | 20.22 | 55.9 | 10.38 | 49.78 | 1.19 | 8.18 | 11.74 | 32.06 | 104.58 | 23.43 | 83.48 | 10.78 | 16.52 | -32.96 | 0.43 | -21.06 | 6.12 | -8.11 |
| 2020 (7) | 35.76 | 118.85 | 17.74 | 16.56 | 6.05 | 82.78 | 0.70 | 17.19 | 8.02 | 46.08 | 6.88 | 85.95 | 12.97 | 49.6 | 6.93 | 56.79 | 1.10 | 8.91 | 8.89 | 41.79 | 84.73 | -7.95 | 75.35 | 25.21 | 24.65 | -38.11 | 0.55 | -11.23 | 6.66 | -8.77 |
| 2019 (6) | 16.34 | 186.67 | 15.22 | 3.61 | 3.31 | -30.9 | 0.60 | 69.86 | 5.49 | -7.42 | 3.70 | 148.32 | 8.67 | -13.39 | 4.42 | -13.5 | 1.01 | -1.94 | 6.27 | -3.09 | 92.05 | -11.52 | 60.18 | -25.61 | 39.82 | 108.4 | 0.62 | 2.37 | 7.30 | 11.11 |
| 2018 (5) | 5.70 | -72.77 | 14.69 | 7.3 | 4.79 | 63.48 | 0.35 | 21.94 | 5.93 | 28.91 | 1.49 | -59.73 | 10.01 | 13.24 | 5.11 | 12.06 | 1.03 | -15.57 | 6.47 | 28.88 | 104.04 | 11.83 | 80.89 | 26.81 | 19.11 | -47.23 | 0.61 | 0 | 6.57 | 8.96 |
| 2017 (4) | 20.93 | -19.03 | 13.69 | -3.52 | 2.93 | -27.11 | 0.29 | 10.3 | 4.60 | -11.54 | 3.70 | -11.9 | 8.84 | -20.29 | 4.56 | -19.15 | 1.22 | -8.96 | 5.02 | -9.71 | 93.03 | -4.79 | 63.79 | -17.4 | 36.21 | 59.0 | 0.00 | 0 | 6.03 | 18.24 |
| 2016 (3) | 25.85 | 12.29 | 14.19 | -1.25 | 4.02 | -9.66 | 0.26 | -7.26 | 5.20 | 9.47 | 4.20 | 14.75 | 11.09 | 7.46 | 5.64 | 9.94 | 1.34 | -2.9 | 5.56 | 6.92 | 97.71 | 0.84 | 77.23 | -17.49 | 22.77 | 255.68 | 0.00 | 0 | 5.10 | 2.0 |
| 2015 (2) | 23.02 | -12.17 | 14.37 | 4.89 | 4.45 | -2.2 | 0.28 | -50.67 | 4.75 | -10.71 | 3.66 | -11.38 | 10.32 | -20.8 | 5.13 | -16.59 | 1.38 | -6.12 | 5.20 | -13.76 | 96.90 | -14.18 | 93.60 | 9.5 | 6.40 | -55.91 | 0.00 | 0 | 5.00 | 12.36 |
| 2014 (1) | 26.21 | -8.55 | 13.70 | 0 | 4.55 | 0 | 0.57 | 2.54 | 5.32 | 0 | 4.13 | 0 | 13.03 | 0 | 6.15 | 0 | 1.47 | -10.37 | 6.03 | -7.94 | 112.91 | -2.8 | 85.48 | 16.46 | 14.52 | -45.42 | 0.00 | 0 | 4.45 | -2.2 |
