- 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) | 3.39 | 1.5 | 16.49 | 58.71 | -0.86 | 3.02 | 26.78 | -2.44 | 4.86 | 30.99 | -5.32 | -2.76 | 25.75 | -1.19 | -0.46 | 6.29 | -5.41 | 6.79 | 4.09 | 0.25 | 9.65 | 0.16 | 0.0 | 14.29 | 34.71 | -4.43 | -3.37 | 48.92 | -20.47 | -13.35 | 86.42 | 3.03 | 7.85 | 13.58 | -15.76 | -31.65 | 25.97 | -0.73 | 0.39 |
| 24Q2 (19) | 3.34 | 47.14 | 38.02 | 59.22 | 1.95 | -4.9 | 27.45 | 34.69 | -0.11 | 32.73 | 18.59 | 6.44 | 26.06 | 17.92 | 9.22 | 6.65 | 48.11 | 25.95 | 4.08 | 41.18 | 27.1 | 0.16 | 23.08 | 23.08 | 36.32 | 13.01 | 3.8 | 61.51 | -6.48 | -2.19 | 83.88 | 13.48 | -6.17 | 16.12 | -38.39 | 52.04 | 26.16 | -14.82 | -7.95 |
| 24Q1 (18) | 2.27 | 19.47 | 1.79 | 58.09 | 13.19 | -4.39 | 20.38 | -0.97 | -24.66 | 27.60 | 36.23 | -2.75 | 22.10 | 34.59 | 0.73 | 4.49 | 21.35 | -3.65 | 2.89 | 16.53 | -1.37 | 0.13 | -13.33 | 0.0 | 32.14 | 28.66 | -1.59 | 65.77 | 35.05 | -3.89 | 73.91 | -27.23 | -22.41 | 26.17 | 1765.0 | 462.18 | 30.71 | 25.6 | 11.92 |
| 23Q4 (17) | 1.90 | -34.71 | -7.32 | 51.32 | -9.95 | 12.37 | 20.58 | -19.42 | 18.41 | 20.26 | -36.43 | 9.87 | 16.42 | -36.53 | 9.1 | 3.70 | -37.18 | -12.94 | 2.48 | -33.51 | -8.82 | 0.15 | 7.14 | -16.67 | 24.98 | -30.46 | 15.65 | 48.70 | -13.74 | -10.9 | 101.57 | 26.76 | 7.83 | -1.57 | -107.91 | -127.08 | 24.45 | -5.49 | 9.69 |
| 23Q3 (16) | 2.91 | 20.25 | -29.37 | 56.99 | -8.48 | 8.53 | 25.54 | -7.06 | -4.49 | 31.87 | 3.64 | -5.9 | 25.87 | 8.42 | -2.34 | 5.89 | 11.55 | -32.84 | 3.73 | 16.2 | -29.36 | 0.14 | 7.69 | -30.0 | 35.92 | 2.66 | -2.23 | 56.46 | -10.22 | -9.88 | 80.13 | -10.37 | 1.5 | 19.87 | 87.39 | -5.63 | 25.87 | -8.97 | 17.22 |
| 23Q2 (15) | 2.42 | 8.52 | -38.73 | 62.27 | 2.49 | 5.9 | 27.48 | 1.59 | -0.69 | 30.75 | 8.35 | -26.36 | 23.86 | 8.75 | -30.13 | 5.28 | 13.3 | -43.23 | 3.21 | 9.56 | -39.32 | 0.13 | 0.0 | -13.33 | 34.99 | 7.13 | -22.96 | 62.89 | -8.1 | -13.3 | 89.40 | -6.16 | 34.88 | 10.60 | 127.8 | -68.6 | 28.42 | 3.57 | 21.56 |
| 23Q1 (14) | 2.23 | 8.78 | 9.85 | 60.76 | 33.04 | 22.35 | 27.05 | 55.64 | 42.07 | 28.38 | 53.9 | 24.31 | 21.94 | 45.78 | 12.51 | 4.66 | 9.65 | -1.89 | 2.93 | 7.72 | 2.45 | 0.13 | -27.78 | -13.33 | 32.66 | 51.2 | 21.82 | 68.43 | 25.19 | -15.53 | 95.26 | 1.13 | 14.27 | 4.65 | -19.79 | -72.01 | 27.44 | 23.1 | 6.81 |
| 22Q4 (13) | 2.05 | -50.24 | 30.57 | 45.67 | -13.03 | -1.76 | 17.38 | -35.0 | 9.1 | 18.44 | -45.56 | -5.34 | 15.05 | -43.19 | -3.46 | 4.25 | -51.54 | 10.39 | 2.72 | -48.48 | 8.8 | 0.18 | -10.0 | 12.5 | 21.60 | -41.21 | -8.63 | 54.66 | -12.75 | -2.29 | 94.20 | 19.32 | 15.2 | 5.80 | -72.44 | -68.17 | 22.29 | 1.0 | -2.41 |
| 22Q3 (12) | 4.12 | 4.3 | 117.99 | 52.51 | -10.7 | 4.71 | 26.74 | -3.36 | 32.18 | 33.87 | -18.89 | 42.97 | 26.49 | -22.43 | 37.75 | 8.77 | -5.7 | 90.24 | 5.28 | -0.19 | 82.07 | 0.20 | 33.33 | 33.33 | 36.74 | -19.11 | 33.45 | 62.65 | -13.63 | 10.67 | 78.95 | 19.11 | -7.55 | 21.05 | -37.65 | 44.11 | 22.07 | -5.6 | -12.73 |
| 22Q2 (11) | 3.95 | 94.58 | 243.48 | 58.80 | 18.41 | 26.45 | 27.67 | 45.33 | 108.67 | 41.76 | 82.92 | 169.77 | 34.15 | 75.13 | 198.25 | 9.30 | 95.79 | 214.19 | 5.29 | 84.97 | 195.53 | 0.15 | 0.0 | 0.0 | 45.42 | 69.41 | 139.18 | 72.54 | -10.46 | 12.36 | 66.28 | -20.5 | -22.58 | 33.77 | 103.02 | 134.68 | 23.38 | -8.99 | 10.44 |
| 22Q1 (10) | 2.03 | 29.3 | -62.13 | 49.66 | 6.82 | 0.81 | 19.04 | 19.52 | -8.51 | 22.83 | 17.2 | -63.72 | 19.50 | 25.08 | -63.11 | 4.75 | 23.38 | -65.0 | 2.86 | 14.4 | -64.16 | 0.15 | -6.25 | 0.0 | 26.81 | 13.41 | -59.34 | 81.01 | 44.82 | 15.46 | 83.37 | 1.96 | 152.16 | 16.63 | -8.77 | -75.14 | 25.69 | 12.48 | 12.58 |
| 21Q4 (9) | 1.57 | -16.93 | -4.27 | 46.49 | -7.3 | 0.54 | 15.93 | -21.26 | -13.52 | 19.48 | -17.77 | -9.44 | 15.59 | -18.93 | -8.4 | 3.85 | -16.49 | -14.25 | 2.50 | -13.79 | -4.94 | 0.16 | 6.67 | 6.67 | 23.64 | -14.13 | -3.82 | 55.94 | -1.18 | -21.92 | 81.77 | -4.24 | -4.64 | 18.23 | 24.8 | 26.92 | 22.84 | -9.69 | 25.91 |
| 21Q3 (8) | 1.89 | 64.35 | 35.97 | 50.15 | 7.85 | 4.0 | 20.23 | 52.56 | 18.51 | 23.69 | 53.04 | 31.83 | 19.23 | 67.95 | 35.71 | 4.61 | 55.74 | 17.3 | 2.90 | 62.01 | 28.89 | 0.15 | 0.0 | -6.25 | 27.53 | 44.97 | 31.66 | 56.61 | -12.31 | -25.38 | 85.39 | -0.26 | -10.03 | 14.61 | 1.53 | 194.97 | 25.29 | 19.46 | 20.66 |
| 21Q2 (7) | 1.15 | -78.54 | -17.86 | 46.50 | -5.6 | -4.44 | 13.26 | -36.28 | -34.13 | 15.48 | -75.4 | -23.71 | 11.45 | -78.34 | -26.41 | 2.96 | -78.19 | -28.85 | 1.79 | -77.57 | -23.83 | 0.15 | 0.0 | 0.0 | 18.99 | -71.2 | -19.19 | 64.56 | -7.98 | -18.69 | 85.61 | 158.95 | -13.72 | 14.39 | -78.49 | 1763.44 | 21.17 | -7.23 | 0 |
| 21Q1 (6) | 5.36 | 226.83 | 374.34 | 49.26 | 6.53 | -4.89 | 20.81 | 12.98 | 28.06 | 62.92 | 192.52 | 249.36 | 52.86 | 210.58 | 266.83 | 13.57 | 202.23 | 301.48 | 7.98 | 203.42 | 307.14 | 0.15 | 0.0 | 15.38 | 65.93 | 168.23 | 203.68 | 70.16 | -2.07 | -14.55 | 33.06 | -61.44 | -63.38 | 66.90 | 365.72 | 588.3 | 22.82 | 25.8 | -17.38 |
| 20Q4 (5) | 1.64 | 17.99 | 12.33 | 46.24 | -4.11 | 3.65 | 18.42 | 7.91 | 14.91 | 21.51 | 19.7 | 16.14 | 17.02 | 20.11 | 22.18 | 4.49 | 14.25 | 4.91 | 2.63 | 16.89 | 4.37 | 0.15 | -6.25 | -16.67 | 24.58 | 17.55 | 15.24 | 71.64 | -5.56 | -0.56 | 85.75 | -9.66 | -1.0 | 14.37 | 190.02 | 7.29 | 18.14 | -13.45 | 0 |
| 20Q3 (4) | 1.39 | -0.71 | 0.0 | 48.22 | -0.9 | 0.0 | 17.07 | -15.2 | 0.0 | 17.97 | -11.43 | 0.0 | 14.17 | -8.93 | 0.0 | 3.93 | -5.53 | 0.0 | 2.25 | -4.26 | 0.0 | 0.16 | 6.67 | 0.0 | 20.91 | -11.02 | 0.0 | 75.86 | -4.46 | 0.0 | 94.91 | -4.35 | 0.0 | 4.95 | 541.43 | 0.0 | 20.96 | 0 | 0.0 |
| 20Q2 (3) | 1.40 | 23.89 | 0.0 | 48.66 | -6.04 | 0.0 | 20.13 | 23.88 | 0.0 | 20.29 | 12.66 | 0.0 | 15.56 | 7.98 | 0.0 | 4.16 | 23.08 | 0.0 | 2.35 | 19.9 | 0.0 | 0.15 | 15.38 | 0.0 | 23.50 | 8.25 | 0.0 | 79.40 | -3.3 | 0.0 | 99.23 | 9.91 | 0.0 | 0.77 | -92.06 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 1.13 | -22.6 | 0.0 | 51.79 | 16.1 | 0.0 | 16.25 | 1.37 | 0.0 | 18.01 | -2.75 | 0.0 | 14.41 | 3.45 | 0.0 | 3.38 | -21.03 | 0.0 | 1.96 | -22.22 | 0.0 | 0.13 | -27.78 | 0.0 | 21.71 | 1.78 | 0.0 | 82.11 | 13.98 | 0.0 | 90.28 | 4.24 | 0.0 | 9.72 | -27.41 | 0.0 | 27.62 | 0 | 0.0 |
| 19Q4 (1) | 1.46 | 0.0 | 0.0 | 44.61 | 0.0 | 0.0 | 16.03 | 0.0 | 0.0 | 18.52 | 0.0 | 0.0 | 13.93 | 0.0 | 0.0 | 4.28 | 0.0 | 0.0 | 2.52 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 21.33 | 0.0 | 0.0 | 72.04 | 0.0 | 0.0 | 86.61 | 0.0 | 0.0 | 13.39 | 0.0 | 0.0 | 0.00 | 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) | 9.45 | -22.16 | 57.60 | 11.91 | 25.02 | 9.54 | 3.87 | 30.44 | 27.66 | -5.24 | 21.93 | -7.31 | 18.45 | -27.87 | 12.31 | -25.93 | 0.55 | -21.43 | 31.98 | -1.72 | 48.70 | -10.9 | 90.46 | 15.62 | 9.54 | -56.16 | 0.77 | -16.18 | 26.46 | 14.3 |
| 2022 (9) | 12.14 | 21.89 | 51.47 | 7.1 | 22.84 | 30.59 | 2.96 | -8.89 | 29.19 | -2.86 | 23.66 | -3.35 | 25.58 | 4.97 | 16.62 | 10.43 | 0.70 | 14.75 | 32.54 | -3.38 | 54.66 | -2.29 | 78.23 | 34.43 | 21.77 | -47.93 | 0.92 | -15.91 | 23.15 | 0.61 |
| 2021 (8) | 9.96 | 79.14 | 48.06 | -1.05 | 17.49 | -2.89 | 3.25 | 18.06 | 30.05 | 54.1 | 24.48 | 59.69 | 24.37 | 59.49 | 15.05 | 65.93 | 0.61 | 5.17 | 33.68 | 48.3 | 55.94 | -21.92 | 58.19 | -36.98 | 41.81 | 445.81 | 1.09 | 8.28 | 23.01 | 3.65 |
| 2020 (7) | 5.56 | 24.11 | 48.57 | 2.66 | 18.01 | 21.61 | 2.76 | -12.89 | 19.50 | 16.0 | 15.33 | 12.89 | 15.28 | 19.19 | 9.07 | 14.09 | 0.58 | 1.75 | 22.71 | 11.27 | 71.64 | -0.56 | 92.34 | 4.9 | 7.66 | -35.79 | 1.01 | -4.53 | 22.20 | -13.04 |
| 2019 (6) | 4.48 | -27.97 | 47.31 | 7.4 | 14.81 | -17.49 | 3.16 | 73.32 | 16.81 | -13.97 | 13.58 | -9.71 | 12.82 | -29.17 | 7.95 | -30.14 | 0.57 | -24.0 | 20.41 | -5.47 | 72.04 | 24.34 | 88.03 | -4.21 | 11.93 | 47.23 | 1.06 | -10.45 | 25.53 | 18.91 |
| 2018 (5) | 6.22 | -2.96 | 44.05 | -7.15 | 17.95 | -12.1 | 1.83 | -12.27 | 19.54 | -6.73 | 15.04 | -12.05 | 18.10 | -13.89 | 11.38 | -9.9 | 0.75 | 2.74 | 21.59 | -6.98 | 57.94 | -8.81 | 91.90 | -5.72 | 8.10 | 220.17 | 1.18 | 0 | 21.47 | -4.49 |
| 2017 (4) | 6.41 | 41.5 | 47.44 | 1.58 | 20.42 | 17.9 | 2.08 | -28.24 | 20.95 | 19.24 | 17.10 | 17.2 | 21.02 | 25.94 | 12.63 | 26.55 | 0.73 | 8.96 | 23.21 | 11.37 | 63.54 | -12.62 | 97.47 | -1.13 | 2.53 | 78.18 | 0.00 | 0 | 22.48 | -8.95 |
| 2016 (3) | 4.53 | 38.11 | 46.70 | 7.21 | 17.32 | 37.57 | 2.90 | -14.85 | 17.57 | 14.84 | 14.59 | 18.43 | 16.69 | 32.04 | 9.98 | 26.17 | 0.67 | 8.06 | 20.84 | 9.0 | 72.72 | 6.16 | 98.58 | 19.83 | 1.42 | -91.99 | 0.00 | 0 | 24.69 | -1.16 |
| 2015 (2) | 3.28 | -6.55 | 43.56 | 10.95 | 12.59 | 6.24 | 3.40 | 18.16 | 15.30 | 3.52 | 12.32 | -1.99 | 12.64 | -11.79 | 7.91 | -17.0 | 0.62 | -16.22 | 19.12 | 6.16 | 68.50 | 14.72 | 82.27 | 2.68 | 17.73 | -10.51 | 0.00 | 0 | 24.98 | 13.49 |
| 2014 (1) | 3.51 | 9.35 | 39.26 | 0 | 11.85 | 0 | 2.88 | -5.46 | 14.78 | 0 | 12.57 | 0 | 14.33 | 0 | 9.53 | 0 | 0.74 | -11.9 | 18.01 | 4.95 | 59.71 | 28.46 | 80.12 | -2.8 | 19.82 | 12.77 | 0.00 | 0 | 22.01 | 9.01 |
