- 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) | 1.30 | 20.37 | -7.8 | 46.87 | 2.99 | 0.39 | 7.01 | -11.04 | -23.8 | 13.49 | 23.2 | -8.73 | 11.00 | 23.73 | -8.1 | 3.61 | 14.24 | -10.86 | 1.80 | 16.88 | -8.16 | 0.15 | -6.25 | -6.25 | 21.89 | 15.21 | -3.82 | 109.50 | -11.08 | 0.54 | 51.98 | -27.68 | -16.59 | 48.02 | 70.74 | 27.44 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 1.08 | 30.12 | -18.8 | 45.51 | 0.55 | -3.42 | 7.88 | 26.69 | -17.75 | 10.95 | 15.14 | -23.32 | 8.89 | 21.61 | -20.77 | 3.16 | 34.47 | -21.78 | 1.54 | 29.41 | -18.09 | 0.16 | 6.67 | 0.0 | 19.00 | 7.04 | -14.34 | 123.14 | -1.62 | -2.53 | 71.88 | 9.52 | 7.04 | 28.12 | -18.18 | -14.38 | 21.53 | -7.08 | 0.65 |
| 24Q1 (18) | 0.83 | -33.6 | -4.6 | 45.26 | -3.21 | 2.72 | 6.22 | -44.27 | 3.15 | 9.51 | -30.94 | 7.58 | 7.31 | -32.25 | 5.03 | 2.35 | -33.24 | -5.24 | 1.19 | -33.89 | -4.03 | 0.15 | -6.25 | -6.25 | 17.75 | -18.88 | 6.61 | 125.17 | 18.07 | -2.89 | 65.62 | -18.91 | -4.09 | 34.38 | 80.24 | 7.57 | 23.17 | 11.23 | 12.15 |
| 23Q4 (17) | 1.25 | -11.35 | -25.15 | 46.76 | 0.15 | 3.77 | 11.16 | 21.3 | -22.87 | 13.77 | -6.83 | -19.85 | 10.79 | -9.86 | -17.38 | 3.52 | -13.09 | -26.21 | 1.80 | -8.16 | -24.37 | 0.16 | 0.0 | -5.88 | 21.88 | -3.87 | -11.7 | 106.01 | -2.66 | 0.41 | 80.93 | 29.86 | -3.83 | 19.07 | -49.39 | 20.35 | 20.83 | -6.38 | 21.1 |
| 23Q3 (16) | 1.41 | 6.02 | -37.89 | 46.69 | -0.91 | 9.63 | 9.20 | -3.97 | -16.59 | 14.78 | 3.5 | -24.01 | 11.97 | 6.68 | -21.66 | 4.05 | 0.25 | -39.01 | 1.96 | 4.26 | -36.36 | 0.16 | 0.0 | -20.0 | 22.76 | 2.61 | -11.92 | 108.91 | -13.8 | -3.46 | 62.32 | -7.19 | 9.84 | 37.68 | 14.71 | -12.9 | 22.25 | 4.02 | 7.23 |
| 23Q2 (15) | 1.33 | 52.87 | 52.87 | 47.12 | 6.95 | 2.75 | 9.58 | 58.87 | 81.1 | 14.28 | 61.54 | 63.01 | 11.22 | 61.21 | 48.41 | 4.04 | 62.9 | 71.91 | 1.88 | 51.61 | 59.32 | 0.16 | 0.0 | 6.67 | 22.18 | 33.21 | 28.73 | 126.34 | -1.98 | -2.97 | 67.15 | -1.86 | 11.14 | 32.85 | 2.8 | -17.01 | 21.39 | 3.53 | -6.96 |
| 23Q1 (14) | 0.87 | -47.9 | -13.86 | 44.06 | -2.22 | 1.85 | 6.03 | -58.33 | -15.55 | 8.84 | -48.54 | -15.57 | 6.96 | -46.71 | -13.65 | 2.48 | -48.01 | -5.7 | 1.24 | -47.9 | -10.14 | 0.16 | -5.88 | 0.0 | 16.65 | -32.81 | -7.81 | 128.89 | 22.08 | 38.31 | 68.42 | -18.69 | 0.56 | 31.95 | 101.65 | -0.02 | 20.66 | 20.12 | -4.7 |
| 22Q4 (13) | 1.67 | -26.43 | -5.65 | 45.06 | 5.8 | 3.92 | 14.47 | 31.19 | 12.96 | 17.18 | -11.67 | 6.25 | 13.06 | -14.53 | 6.79 | 4.77 | -28.16 | -5.73 | 2.38 | -22.73 | -4.8 | 0.17 | -15.0 | -15.0 | 24.78 | -4.1 | 9.5 | 105.58 | -6.41 | 1.07 | 84.15 | 48.32 | 6.15 | 15.85 | -63.37 | -23.54 | 17.20 | -17.11 | -10.56 |
| 22Q3 (12) | 2.27 | 160.92 | 27.53 | 42.59 | -7.13 | -3.4 | 11.03 | 108.51 | 10.3 | 19.45 | 122.03 | 19.18 | 15.28 | 102.12 | 17.18 | 6.64 | 182.55 | 34.41 | 3.08 | 161.02 | 21.74 | 0.20 | 33.33 | 5.26 | 25.84 | 49.97 | 12.1 | 112.81 | -13.36 | 2.62 | 56.74 | -6.09 | -7.23 | 43.26 | 9.29 | 11.39 | 20.75 | -9.74 | 4.38 |
| 22Q2 (11) | 0.87 | -13.86 | -41.61 | 45.86 | 6.01 | 0.24 | 5.29 | -25.91 | -52.81 | 8.76 | -16.33 | -41.72 | 7.56 | -6.2 | -30.39 | 2.35 | -10.65 | -40.66 | 1.18 | -14.49 | -44.34 | 0.15 | -6.25 | -21.05 | 17.23 | -4.6 | -20.64 | 130.21 | 39.73 | 44.63 | 60.42 | -11.2 | -19.13 | 39.58 | 23.84 | 55.29 | 22.99 | 6.04 | 14.26 |
| 22Q1 (10) | 1.01 | -42.94 | -12.17 | 43.26 | -0.23 | -1.41 | 7.14 | -44.26 | -21.1 | 10.47 | -35.25 | -11.12 | 8.06 | -34.1 | -7.04 | 2.63 | -48.02 | -14.61 | 1.38 | -44.8 | -14.29 | 0.16 | -20.0 | -11.11 | 18.06 | -20.19 | -3.16 | 93.19 | -10.79 | 0.36 | 68.04 | -14.17 | -11.46 | 31.96 | 54.22 | 38.02 | 21.68 | 12.74 | 6.22 |
| 21Q4 (9) | 1.77 | -0.56 | -6.35 | 43.36 | -1.66 | -3.75 | 12.81 | 28.1 | -11.59 | 16.17 | -0.92 | -6.37 | 12.23 | -6.21 | -7.63 | 5.06 | 2.43 | -8.5 | 2.50 | -1.19 | -8.76 | 0.20 | 5.26 | 0.0 | 22.63 | -1.82 | -3.66 | 104.46 | -4.98 | 2.01 | 79.27 | 29.62 | -5.55 | 20.73 | -46.64 | 28.96 | 19.23 | -3.27 | 4.28 |
| 21Q3 (8) | 1.78 | 19.46 | -19.46 | 44.09 | -3.63 | -0.77 | 10.00 | -10.79 | -29.08 | 16.32 | 8.58 | -15.96 | 13.04 | 20.07 | -12.66 | 4.94 | 24.75 | -29.02 | 2.53 | 19.34 | -21.18 | 0.19 | 0.0 | -9.52 | 23.05 | 6.17 | -10.0 | 109.93 | 22.1 | -0.34 | 61.16 | -18.13 | -15.8 | 38.84 | 52.37 | 41.93 | 19.88 | -1.19 | 16.8 |
| 21Q2 (7) | 1.49 | 29.57 | -7.45 | 45.75 | 4.26 | 2.9 | 11.21 | 23.87 | -8.19 | 15.03 | 27.59 | -3.34 | 10.86 | 25.26 | -6.62 | 3.96 | 28.57 | -21.58 | 2.12 | 31.68 | -13.82 | 0.19 | 5.56 | -5.0 | 21.71 | 16.41 | -6.58 | 90.03 | -3.05 | -32.36 | 74.71 | -2.78 | -4.99 | 25.49 | 10.07 | 18.2 | 20.12 | -1.42 | 0 |
| 21Q1 (6) | 1.15 | -39.15 | 66.67 | 43.88 | -2.6 | -3.13 | 9.05 | -37.54 | 166.96 | 11.78 | -31.79 | 52.39 | 8.67 | -34.52 | 32.98 | 3.08 | -44.3 | 62.96 | 1.61 | -41.24 | 59.41 | 0.18 | -10.0 | 20.0 | 18.65 | -20.6 | 12.83 | 92.86 | -9.32 | -3.07 | 76.84 | -8.44 | 75.24 | 23.16 | 44.09 | -58.76 | 20.41 | 10.68 | 0 |
| 20Q4 (5) | 1.89 | -14.48 | 18.87 | 45.05 | 1.4 | 0.33 | 14.49 | 2.77 | 19.85 | 17.27 | -11.07 | 7.07 | 13.24 | -11.32 | 11.82 | 5.53 | -20.55 | 14.73 | 2.74 | -14.64 | 13.69 | 0.20 | -4.76 | 0.0 | 23.49 | -8.28 | 5.86 | 102.40 | -7.17 | -1.85 | 83.93 | 15.55 | 12.04 | 16.07 | -41.27 | -35.95 | 18.44 | 8.34 | -4.75 |
| 20Q3 (4) | 2.21 | 37.27 | 0.0 | 44.43 | -0.07 | 0.0 | 14.10 | 15.48 | 0.0 | 19.42 | 24.89 | 0.0 | 14.93 | 28.37 | 0.0 | 6.96 | 37.82 | 0.0 | 3.21 | 30.49 | 0.0 | 0.21 | 5.0 | 0.0 | 25.61 | 10.2 | 0.0 | 110.31 | -17.13 | 0.0 | 72.64 | -7.62 | 0.0 | 27.36 | 26.89 | 0.0 | 17.02 | 0 | 0.0 |
| 20Q2 (3) | 1.61 | 133.33 | 0.0 | 44.46 | -1.85 | 0.0 | 12.21 | 260.18 | 0.0 | 15.55 | 101.16 | 0.0 | 11.63 | 78.37 | 0.0 | 5.05 | 167.2 | 0.0 | 2.46 | 143.56 | 0.0 | 0.20 | 33.33 | 0.0 | 23.24 | 40.59 | 0.0 | 133.11 | 38.95 | 0.0 | 78.63 | 79.31 | 0.0 | 21.56 | -61.59 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 0.69 | -56.6 | 0.0 | 45.30 | 0.89 | 0.0 | 3.39 | -71.96 | 0.0 | 7.73 | -52.08 | 0.0 | 6.52 | -44.93 | 0.0 | 1.89 | -60.79 | 0.0 | 1.01 | -58.09 | 0.0 | 0.15 | -25.0 | 0.0 | 16.53 | -25.51 | 0.0 | 95.80 | -8.18 | 0.0 | 43.85 | -41.46 | 0.0 | 56.15 | 123.77 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 1.59 | 0.0 | 0.0 | 44.90 | 0.0 | 0.0 | 12.09 | 0.0 | 0.0 | 16.13 | 0.0 | 0.0 | 11.84 | 0.0 | 0.0 | 4.82 | 0.0 | 0.0 | 2.41 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 22.19 | 0.0 | 0.0 | 104.33 | 0.0 | 0.0 | 74.91 | 0.0 | 0.0 | 25.09 | 0.0 | 0.0 | 19.36 | 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) | 4.86 | -16.49 | 46.13 | 4.63 | 8.94 | -8.02 | 6.93 | 3.84 | 12.85 | -10.7 | 10.18 | -9.91 | 13.35 | -16.35 | 6.89 | -14.94 | 0.64 | -7.25 | 20.80 | -4.72 | 106.01 | 0.41 | 69.59 | 3.07 | 30.41 | -6.39 | 1.02 | -2.46 | 21.27 | 3.45 |
| 2022 (9) | 5.82 | -5.98 | 44.09 | -0.38 | 9.72 | -10.17 | 6.67 | 7.83 | 14.39 | -3.29 | 11.30 | 0.53 | 15.96 | -6.67 | 8.10 | -5.92 | 0.69 | -8.0 | 21.83 | 1.25 | 105.58 | 1.07 | 67.51 | -7.16 | 32.49 | 18.88 | 1.05 | -2.12 | 20.56 | 3.32 |
| 2021 (8) | 6.19 | -3.28 | 44.26 | -1.14 | 10.82 | -7.68 | 6.19 | -4.95 | 14.88 | -4.86 | 11.24 | -6.64 | 17.10 | -5.11 | 8.61 | -5.59 | 0.75 | 1.35 | 21.56 | -5.11 | 104.46 | 2.01 | 72.72 | -2.92 | 27.33 | 8.93 | 1.07 | 9.03 | 19.90 | 4.35 |
| 2020 (7) | 6.40 | 4.58 | 44.77 | 0.9 | 11.72 | 16.39 | 6.51 | 20.16 | 15.64 | 10.06 | 12.04 | 9.06 | 18.02 | 2.44 | 9.12 | 0.88 | 0.74 | -6.33 | 22.72 | 12.42 | 102.40 | -1.85 | 74.91 | 5.62 | 25.09 | -13.72 | 0.98 | -0.79 | 19.07 | -4.6 |
| 2019 (6) | 6.12 | -9.73 | 44.37 | 0.98 | 10.07 | -1.47 | 5.42 | 105.56 | 14.21 | 1.43 | 11.04 | -4.08 | 17.59 | -8.39 | 9.04 | -9.15 | 0.79 | -7.06 | 20.21 | 19.02 | 104.33 | 5.76 | 70.93 | -2.75 | 29.07 | 7.42 | 0.99 | 9.41 | 19.99 | 5.99 |
| 2018 (5) | 6.78 | 1.65 | 43.94 | 2.71 | 10.22 | 20.24 | 2.64 | -1.12 | 14.01 | -9.32 | 11.51 | -13.98 | 19.20 | -18.05 | 9.95 | -17.22 | 0.85 | -4.49 | 16.98 | -7.87 | 98.65 | 4.96 | 72.94 | 32.67 | 27.06 | -39.83 | 0.90 | -3.33 | 18.86 | -17.89 |
| 2017 (4) | 6.67 | 65.92 | 42.78 | 3.48 | 8.50 | 20.57 | 2.67 | 1.98 | 15.45 | 40.45 | 13.38 | 43.87 | 23.43 | 40.3 | 12.02 | 34.3 | 0.89 | -5.32 | 18.43 | 32.49 | 93.99 | -7.61 | 54.98 | -14.22 | 44.98 | 25.25 | 0.93 | 0 | 22.97 | 10.12 |
| 2016 (3) | 4.02 | 5.79 | 41.34 | -1.17 | 7.05 | 16.53 | 2.61 | -13.95 | 11.00 | -0.9 | 9.30 | -1.8 | 16.70 | 6.17 | 8.95 | 0.67 | 0.94 | 2.17 | 13.91 | -3.67 | 101.73 | 28.89 | 64.09 | 17.53 | 35.91 | -21.03 | 0.00 | 0 | 20.86 | 6.0 |
| 2015 (2) | 3.80 | 9.83 | 41.83 | -6.29 | 6.05 | -18.57 | 3.04 | -18.51 | 11.10 | -7.11 | 9.47 | -9.9 | 15.73 | 6.5 | 8.89 | 4.1 | 0.92 | 15.0 | 14.44 | -9.98 | 78.93 | -3.35 | 54.53 | -12.26 | 45.47 | 20.14 | 0.00 | 0 | 19.68 | -9.85 |
| 2014 (1) | 3.46 | -11.28 | 44.64 | 0 | 7.43 | 0 | 3.73 | -6.21 | 11.95 | 0 | 10.51 | 0 | 14.77 | 0 | 8.54 | 0 | 0.80 | -10.11 | 16.04 | -9.07 | 81.67 | 15.24 | 62.15 | 1.06 | 37.85 | -1.52 | 0.00 | 0 | 21.83 | 0.88 |
