- 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) | 7.30 | 3.11 | 20.86 | 27.00 | -1.5 | -10.54 | 18.14 | -4.12 | -14.07 | 18.18 | -5.61 | -16.14 | 14.40 | -8.57 | -15.44 | 8.28 | -7.07 | -7.59 | 3.86 | -4.93 | -7.43 | 0.26 | 4.0 | 8.33 | 21.49 | -6.28 | -14.96 | 118.62 | -7.01 | 9.05 | 99.78 | 1.52 | 2.49 | 0.22 | -87.38 | -91.65 | 8.12 | -4.25 | -6.77 |
| 24Q2 (19) | 7.08 | 22.92 | 136.0 | 27.41 | -5.38 | -0.36 | 18.92 | -3.72 | 7.26 | 19.26 | -4.94 | 11.33 | 15.75 | 2.81 | 44.5 | 8.91 | 18.96 | 78.56 | 4.06 | 11.23 | 78.85 | 0.25 | 8.7 | 31.58 | 22.93 | -5.13 | 7.2 | 127.56 | -0.58 | -6.45 | 98.29 | 1.31 | -3.6 | 1.75 | -41.42 | 189.54 | 8.48 | -5.88 | -14.94 |
| 24Q1 (18) | 5.76 | -2.7 | 300.0 | 28.97 | 2.22 | 35.63 | 19.65 | 3.26 | 88.04 | 20.26 | 3.21 | 104.44 | 15.32 | -0.65 | 134.97 | 7.49 | -2.6 | 227.07 | 3.65 | -6.41 | 204.17 | 0.23 | -4.17 | 43.75 | 24.17 | 3.82 | 65.32 | 128.30 | 29.23 | -3.91 | 97.02 | 0.06 | -8.03 | 2.98 | -2.03 | 154.38 | 9.01 | -2.59 | -19.7 |
| 23Q4 (17) | 5.92 | -1.99 | 45.1 | 28.34 | -6.1 | 5.55 | 19.03 | -9.85 | 11.09 | 19.63 | -9.46 | 12.62 | 15.42 | -9.45 | 0.85 | 7.69 | -14.17 | 21.68 | 3.90 | -6.47 | 18.18 | 0.24 | 0.0 | 14.29 | 23.28 | -7.87 | 14.06 | 99.28 | -8.73 | 2.85 | 96.95 | -0.42 | -1.39 | 3.05 | 15.3 | 74.74 | 9.25 | 6.2 | 1.54 |
| 23Q3 (16) | 6.04 | 101.33 | 53.69 | 30.18 | 9.71 | 17.02 | 21.11 | 19.67 | 30.55 | 21.68 | 25.32 | 31.39 | 17.03 | 56.24 | 28.72 | 8.96 | 79.56 | 38.27 | 4.17 | 83.7 | 33.23 | 0.24 | 26.32 | 4.35 | 25.27 | 18.14 | 33.35 | 108.78 | -20.22 | 9.87 | 97.36 | -4.51 | -0.69 | 2.64 | 235.33 | 34.57 | 8.71 | -12.64 | 0.23 |
| 23Q2 (15) | 3.00 | 108.33 | -7.69 | 27.51 | 28.79 | 19.56 | 17.64 | 68.8 | 21.15 | 17.30 | 74.57 | 19.31 | 10.90 | 67.18 | 0.37 | 4.99 | 117.9 | -5.49 | 2.27 | 89.17 | -14.02 | 0.19 | 18.75 | -20.83 | 21.39 | 46.31 | 27.63 | 136.35 | 2.12 | 4.95 | 101.95 | -3.35 | 1.53 | -1.95 | 64.42 | -371.12 | 9.97 | -11.14 | 6.63 |
| 23Q1 (14) | 1.44 | -64.71 | -63.82 | 21.36 | -20.45 | -14.49 | 10.45 | -39.0 | -37.24 | 9.91 | -43.14 | -41.08 | 6.52 | -57.36 | -51.2 | 2.29 | -63.77 | -64.22 | 1.20 | -63.64 | -66.01 | 0.16 | -23.81 | -38.46 | 14.62 | -28.37 | -23.5 | 133.52 | 38.32 | 57.16 | 105.49 | 7.29 | 6.57 | -5.49 | -414.79 | -638.37 | 11.22 | 23.16 | 27.21 |
| 22Q4 (13) | 4.08 | 3.82 | -8.72 | 26.85 | 4.11 | -1.07 | 17.13 | 5.94 | -5.57 | 17.43 | 5.64 | -2.95 | 15.29 | 15.57 | 4.16 | 6.32 | -2.47 | -19.59 | 3.30 | 5.43 | -21.99 | 0.21 | -8.7 | -25.0 | 20.41 | 7.7 | 1.69 | 96.53 | -2.5 | 13.67 | 98.32 | 0.29 | -2.64 | 1.74 | -11.21 | 276.73 | 9.11 | 4.83 | 6.55 |
| 22Q3 (12) | 3.93 | 20.92 | -26.95 | 25.79 | 12.08 | -9.7 | 16.17 | 11.06 | -22.52 | 16.50 | 13.79 | -21.47 | 13.23 | 21.82 | -20.49 | 6.48 | 22.73 | -37.45 | 3.13 | 18.56 | -40.72 | 0.23 | -4.17 | -25.81 | 18.95 | 13.07 | -17.21 | 99.01 | -23.79 | 6.61 | 98.04 | -2.37 | -1.35 | 1.96 | 573.78 | 196.31 | 8.69 | -7.06 | 6.5 |
| 22Q2 (11) | 3.25 | -18.34 | -13.33 | 23.01 | -7.89 | -6.23 | 14.56 | -12.55 | -12.81 | 14.50 | -13.79 | -13.28 | 10.86 | -18.71 | -17.04 | 5.28 | -17.5 | -28.07 | 2.64 | -25.21 | -32.99 | 0.24 | -7.69 | -20.0 | 16.76 | -12.3 | -10.57 | 129.92 | 52.92 | 25.02 | 100.41 | 1.45 | 0.54 | -0.41 | -140.66 | -431.08 | 9.35 | 6.01 | 14.86 |
| 22Q1 (10) | 3.98 | -10.96 | 37.72 | 24.98 | -7.96 | 5.94 | 16.65 | -8.21 | 8.05 | 16.82 | -6.35 | 9.93 | 13.36 | -8.99 | 10.87 | 6.40 | -18.58 | 14.08 | 3.53 | -16.55 | 6.01 | 0.26 | -7.14 | -3.7 | 19.11 | -4.78 | 8.58 | 84.96 | 0.05 | 15.45 | 98.98 | -1.99 | -1.74 | 1.02 | 203.33 | 238.61 | 8.82 | 3.16 | -3.4 |
| 21Q4 (9) | 4.47 | -16.91 | 49.0 | 27.14 | -4.97 | 8.73 | 18.14 | -13.08 | 13.38 | 17.96 | -14.52 | 4.91 | 14.68 | -11.78 | 12.92 | 7.86 | -24.13 | 29.92 | 4.23 | -19.89 | 16.53 | 0.28 | -9.68 | 0.0 | 20.07 | -12.32 | 3.35 | 84.92 | -8.56 | 28.18 | 100.99 | 1.61 | 8.04 | -0.99 | -248.87 | -115.11 | 8.55 | 4.78 | -2.84 |
| 21Q3 (8) | 5.38 | 43.47 | 58.24 | 28.56 | 16.38 | 3.74 | 20.87 | 24.97 | 9.61 | 21.01 | 25.66 | 9.26 | 16.64 | 27.12 | 10.71 | 10.36 | 41.14 | 33.68 | 5.28 | 34.01 | 22.51 | 0.31 | 3.33 | 10.71 | 22.89 | 22.15 | 6.66 | 92.87 | -10.63 | 32.69 | 99.38 | -0.49 | 0.36 | 0.66 | 429.37 | -31.99 | 8.16 | 0.25 | 3.03 |
| 21Q2 (7) | 3.75 | 29.76 | 39.41 | 24.54 | 4.07 | -7.71 | 16.70 | 8.37 | -4.84 | 16.72 | 9.28 | -9.57 | 13.09 | 8.63 | -4.17 | 7.34 | 30.84 | 17.63 | 3.94 | 18.32 | 17.61 | 0.30 | 11.11 | 25.0 | 18.74 | 6.48 | -11.14 | 103.92 | 41.21 | 9.09 | 99.87 | -0.85 | 5.2 | 0.13 | 117.02 | -97.53 | 8.14 | -10.84 | -5.24 |
| 21Q1 (6) | 2.89 | -3.67 | 26.2 | 23.58 | -5.53 | -2.6 | 15.41 | -3.69 | -4.29 | 15.30 | -10.63 | -5.2 | 12.05 | -7.31 | -2.82 | 5.61 | -7.27 | 5.85 | 3.33 | -8.26 | 14.43 | 0.27 | -3.57 | 17.39 | 17.60 | -9.37 | -7.12 | 73.59 | 11.08 | -10.95 | 100.74 | 7.77 | 1.05 | -0.74 | -111.27 | -450.74 | 9.13 | 3.75 | 0.33 |
| 20Q4 (5) | 3.00 | -11.76 | -15.49 | 24.96 | -9.34 | -1.69 | 16.00 | -15.97 | -6.54 | 17.12 | -10.97 | -1.83 | 13.00 | -13.51 | -22.48 | 6.05 | -21.94 | -30.7 | 3.63 | -15.78 | -21.09 | 0.28 | 0.0 | 3.7 | 19.42 | -9.51 | -0.15 | 66.25 | -5.34 | -26.3 | 93.47 | -5.61 | -4.84 | 6.53 | 569.93 | 267.37 | 8.80 | 11.11 | 2.09 |
| 20Q3 (4) | 3.40 | 26.39 | 0.0 | 27.53 | 3.54 | 0.0 | 19.04 | 8.49 | 0.0 | 19.23 | 4.0 | 0.0 | 15.03 | 10.03 | 0.0 | 7.75 | 24.2 | 0.0 | 4.31 | 28.66 | 0.0 | 0.28 | 16.67 | 0.0 | 21.46 | 1.75 | 0.0 | 69.99 | -26.53 | 0.0 | 99.03 | 4.31 | 0.0 | 0.97 | -80.76 | 0.0 | 7.92 | -7.8 | 0.0 |
| 20Q2 (3) | 2.69 | 17.47 | 0.0 | 26.59 | 9.83 | 0.0 | 17.55 | 9.01 | 0.0 | 18.49 | 14.56 | 0.0 | 13.66 | 10.16 | 0.0 | 6.24 | 17.74 | 0.0 | 3.35 | 15.12 | 0.0 | 0.24 | 4.35 | 0.0 | 21.09 | 11.29 | 0.0 | 95.26 | 15.27 | 0.0 | 94.94 | -4.76 | 0.0 | 5.06 | 2315.71 | 0.0 | 8.59 | -5.6 | 0.0 |
| 20Q1 (2) | 2.29 | -35.49 | 0.0 | 24.21 | -4.65 | 0.0 | 16.10 | -5.96 | 0.0 | 16.14 | -7.45 | 0.0 | 12.40 | -26.06 | 0.0 | 5.30 | -39.29 | 0.0 | 2.91 | -36.74 | 0.0 | 0.23 | -14.81 | 0.0 | 18.95 | -2.57 | 0.0 | 82.64 | -8.07 | 0.0 | 99.69 | 1.49 | 0.0 | 0.21 | -88.2 | 0.0 | 9.10 | 5.57 | 0.0 |
| 19Q4 (1) | 3.55 | 0.0 | 0.0 | 25.39 | 0.0 | 0.0 | 17.12 | 0.0 | 0.0 | 17.44 | 0.0 | 0.0 | 16.77 | 0.0 | 0.0 | 8.73 | 0.0 | 0.0 | 4.60 | 0.0 | 0.0 | 0.27 | 0.0 | 0.0 | 19.45 | 0.0 | 0.0 | 89.89 | 0.0 | 0.0 | 98.22 | 0.0 | 0.0 | 1.78 | 0.0 | 0.0 | 8.62 | 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) | 16.35 | 7.28 | 27.44 | 9.28 | 17.79 | 10.5 | 3.04 | 60.87 | 17.97 | 10.38 | 13.29 | 1.22 | 22.45 | -7.46 | 11.87 | -9.18 | 0.85 | -12.37 | 21.89 | 16.68 | 99.28 | 2.85 | 99.00 | 0.13 | 1.00 | -11.56 | 1.33 | -22.4 | 9.61 | 6.9 |
| 2022 (9) | 15.24 | -7.64 | 25.11 | -3.98 | 16.10 | -10.46 | 1.89 | 5.32 | 16.28 | -9.3 | 13.13 | -8.12 | 24.26 | -19.43 | 13.07 | -24.28 | 0.97 | -19.17 | 18.76 | -6.29 | 96.53 | 13.67 | 98.87 | -1.28 | 1.13 | 0 | 1.72 | -6.14 | 8.99 | 6.26 |
| 2021 (8) | 16.50 | 45.63 | 26.15 | 1.04 | 17.98 | 4.41 | 1.79 | -18.61 | 17.95 | 0.79 | 14.29 | 5.23 | 30.11 | 23.45 | 17.26 | 23.46 | 1.20 | 17.65 | 20.02 | -1.23 | 84.92 | 28.18 | 100.16 | 3.6 | -0.16 | 0 | 1.83 | -24.16 | 8.46 | -1.28 |
| 2020 (7) | 11.33 | 11.74 | 25.88 | 5.5 | 17.22 | 4.94 | 2.20 | 12.67 | 17.81 | 5.32 | 13.58 | 4.06 | 24.39 | -4.35 | 13.98 | 1.53 | 1.02 | -1.92 | 20.27 | 6.29 | 66.25 | -26.3 | 96.68 | -0.39 | 3.30 | 11.98 | 2.41 | 6100.63 | 8.57 | -1.04 |
| 2019 (6) | 10.14 | 85.04 | 24.53 | 22.71 | 16.41 | 36.3 | 1.95 | -3.37 | 16.91 | 36.92 | 13.05 | 70.37 | 25.50 | 73.0 | 13.77 | 65.31 | 1.04 | -2.8 | 19.07 | 31.25 | 89.89 | 6.59 | 97.05 | -0.41 | 2.95 | 15.81 | 0.04 | 22.06 | 8.66 | 9.21 |
| 2018 (5) | 5.48 | -37.3 | 19.99 | -19.0 | 12.04 | -29.05 | 2.02 | 8.29 | 12.35 | -27.61 | 7.66 | -35.3 | 14.74 | -40.95 | 8.33 | -40.96 | 1.07 | -9.32 | 14.53 | -23.93 | 84.33 | 12.38 | 97.45 | -2.04 | 2.55 | 366.31 | 0.03 | 0 | 7.93 | -3.76 |
| 2017 (4) | 8.74 | 0.46 | 24.68 | -5.51 | 16.97 | -4.93 | 1.87 | -11.54 | 17.06 | -3.89 | 11.84 | -5.81 | 24.96 | -9.1 | 14.11 | -6.8 | 1.18 | -0.84 | 19.10 | -4.5 | 75.04 | -9.55 | 99.48 | -1.08 | 0.55 | 0 | 0.00 | 0 | 8.24 | 0.12 |
| 2016 (3) | 8.70 | 15.23 | 26.12 | 7.62 | 17.85 | 14.64 | 2.11 | -17.63 | 17.75 | 11.22 | 12.57 | 9.69 | 27.46 | 2.54 | 15.14 | 7.53 | 1.19 | -1.65 | 20.00 | 6.95 | 82.96 | 0.3 | 100.56 | 3.1 | -0.56 | 0 | 0.00 | 0 | 8.23 | 5.51 |
| 2015 (2) | 7.55 | 53.77 | 24.27 | 33.57 | 15.57 | 60.52 | 2.56 | -8.31 | 15.96 | 64.03 | 11.46 | 40.44 | 26.78 | 31.02 | 14.08 | 39.27 | 1.21 | 0.0 | 18.70 | 46.21 | 82.71 | -20.72 | 97.54 | -2.14 | 2.46 | 654.11 | 0.00 | 0 | 7.80 | 8.94 |
| 2014 (1) | 4.91 | 82.53 | 18.17 | 0 | 9.70 | 0 | 2.80 | 2.55 | 9.73 | 0 | 8.16 | 0 | 20.44 | 0 | 10.11 | 0 | 1.21 | 0.83 | 12.79 | 39.63 | 104.32 | -5.98 | 99.67 | 1.04 | 0.33 | -74.06 | 0.00 | 0 | 7.16 | 5.14 |
