- 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) | 2.61 | 6.1 | -13.29 | 41.30 | 1.98 | 3.02 | 16.40 | 10.89 | -1.8 | 18.35 | 2.06 | -10.84 | 15.05 | 4.51 | -11.68 | 4.76 | 0.63 | -16.49 | 3.27 | 10.47 | -12.57 | 0.22 | 10.0 | 0.0 | 20.27 | 1.4 | -9.83 | 36.55 | -36.27 | -16.95 | 89.39 | 8.66 | 10.15 | 10.61 | -40.19 | -43.71 | 24.00 | -2.44 | 9.09 |
| 24Q2 (19) | 2.46 | 6.03 | -29.91 | 40.50 | 1.33 | -1.68 | 14.79 | 7.02 | -26.56 | 17.98 | 4.11 | -18.75 | 14.40 | 1.55 | -18.41 | 4.73 | 10.51 | -34.76 | 2.96 | 4.23 | -31.32 | 0.20 | 0.0 | -16.67 | 19.99 | 2.88 | -15.83 | 57.35 | -10.74 | -8.58 | 82.26 | 2.86 | -9.61 | 17.74 | -11.24 | 97.19 | 24.60 | -0.65 | 22.75 |
| 24Q1 (18) | 2.32 | -13.11 | -38.95 | 39.97 | -2.73 | 0.6 | 13.82 | -22.27 | -31.35 | 17.27 | -4.22 | -18.38 | 14.18 | -5.53 | -16.54 | 4.28 | -10.27 | -39.12 | 2.84 | -15.22 | -34.86 | 0.20 | -9.09 | -23.08 | 19.43 | -2.75 | -14.56 | 64.25 | 54.89 | -14.44 | 79.97 | -18.87 | -15.96 | 19.98 | 1335.64 | 310.83 | 24.76 | 9.41 | 29.16 |
| 23Q4 (17) | 2.67 | -11.3 | -18.6 | 41.09 | 2.49 | 5.77 | 17.78 | 6.47 | 0.79 | 18.03 | -12.39 | -2.22 | 15.01 | -11.91 | 1.76 | 4.77 | -16.32 | -19.15 | 3.35 | -10.43 | -14.97 | 0.22 | 0.0 | -18.52 | 19.98 | -11.12 | -0.35 | 41.48 | -5.75 | -16.89 | 98.57 | 21.46 | 3.06 | 1.39 | -92.61 | -67.8 | 22.63 | 2.86 | 9.38 |
| 23Q3 (16) | 3.01 | -14.25 | -26.59 | 40.09 | -2.67 | 10.08 | 16.70 | -17.08 | -7.99 | 20.58 | -7.0 | -3.43 | 17.04 | -3.46 | -0.12 | 5.70 | -21.38 | -28.75 | 3.74 | -13.23 | -25.05 | 0.22 | -8.33 | -24.14 | 22.48 | -5.35 | -1.32 | 44.01 | -29.84 | -13.08 | 81.15 | -10.83 | -4.7 | 18.85 | 109.54 | 27.15 | 22.00 | 9.78 | 17.02 |
| 23Q2 (15) | 3.51 | -7.63 | 10.73 | 41.19 | 3.67 | 6.63 | 20.14 | 0.05 | 9.04 | 22.13 | 4.58 | 18.66 | 17.65 | 3.88 | 20.56 | 7.25 | 3.13 | 8.21 | 4.31 | -1.15 | 9.95 | 0.24 | -7.69 | -11.11 | 23.75 | 4.44 | 17.23 | 62.73 | -16.46 | -12.13 | 91.01 | -4.37 | -8.12 | 8.99 | 84.91 | 840.82 | 20.04 | 4.54 | 2.35 |
| 23Q1 (14) | 3.80 | 15.85 | 14.46 | 39.73 | 2.27 | 4.01 | 20.13 | 14.12 | 7.65 | 21.16 | 14.75 | 7.63 | 16.99 | 15.19 | 6.65 | 7.03 | 19.15 | 1.44 | 4.36 | 10.66 | 0.93 | 0.26 | -3.7 | -3.7 | 22.74 | 13.42 | 6.76 | 75.09 | 50.45 | 5.32 | 95.16 | -0.5 | 0.06 | 4.86 | 12.51 | -0.52 | 19.17 | -7.35 | -2.69 |
| 22Q4 (13) | 3.28 | -20.0 | 11.56 | 38.85 | 6.67 | 1.94 | 17.64 | -2.81 | 2.56 | 18.44 | -13.47 | 8.41 | 14.75 | -13.54 | 2.01 | 5.90 | -26.25 | -4.07 | 3.94 | -21.04 | -3.43 | 0.27 | -6.9 | -3.57 | 20.05 | -11.98 | 6.76 | 49.91 | -1.42 | -1.64 | 95.65 | 12.32 | -5.45 | 4.32 | -70.83 | 485.91 | 20.69 | 10.05 | 12.38 |
| 22Q3 (12) | 4.10 | 29.34 | 39.46 | 36.42 | -5.72 | -1.03 | 18.15 | -1.73 | 7.91 | 21.31 | 14.26 | 14.63 | 17.06 | 16.53 | 15.66 | 8.00 | 19.4 | 21.03 | 4.99 | 27.3 | 21.41 | 0.29 | 7.41 | 3.57 | 22.78 | 12.44 | 10.91 | 50.63 | -29.08 | -1.33 | 85.15 | -14.03 | -5.87 | 14.82 | 1450.41 | 55.39 | 18.80 | -3.98 | -13.48 |
| 22Q2 (11) | 3.17 | -4.52 | 36.64 | 38.63 | 1.13 | 5.2 | 18.47 | -1.23 | 19.47 | 18.65 | -5.14 | 16.34 | 14.64 | -8.1 | 14.55 | 6.70 | -3.32 | 20.72 | 3.92 | -9.26 | 19.88 | 0.27 | 0.0 | 3.85 | 20.26 | -4.88 | 12.68 | 71.39 | 0.13 | 0.83 | 99.04 | 4.14 | 2.7 | 0.96 | -80.45 | -72.78 | 19.58 | -0.61 | -2.88 |
| 22Q1 (10) | 3.32 | 12.93 | 33.87 | 38.20 | 0.24 | -3.49 | 18.70 | 8.72 | 7.59 | 19.66 | 15.58 | 7.08 | 15.93 | 10.17 | 8.66 | 6.93 | 12.68 | 20.31 | 4.32 | 5.88 | 16.44 | 0.27 | -3.57 | 8.0 | 21.30 | 13.42 | 4.93 | 71.30 | 40.52 | 3.47 | 95.11 | -5.98 | 0.52 | 4.89 | 536.48 | -9.09 | 19.70 | 7.01 | -8.75 |
| 21Q4 (9) | 2.94 | 0.0 | 33.03 | 38.11 | 3.56 | -3.42 | 17.20 | 2.26 | -3.48 | 17.01 | -8.5 | 4.42 | 14.46 | -1.97 | 6.87 | 6.15 | -6.96 | 21.06 | 4.08 | -0.73 | 15.25 | 0.28 | 0.0 | 7.69 | 18.78 | -8.57 | 3.53 | 50.74 | -1.11 | 17.35 | 101.16 | 11.82 | -7.51 | -1.12 | -111.74 | 88.04 | 18.41 | -15.28 | -12.04 |
| 21Q3 (8) | 2.94 | 26.72 | 16.67 | 36.80 | 0.22 | -7.51 | 16.82 | 8.8 | -3.05 | 18.59 | 15.97 | -1.64 | 14.75 | 15.41 | -1.54 | 6.61 | 19.1 | 8.01 | 4.11 | 25.69 | 5.12 | 0.28 | 7.69 | 7.69 | 20.54 | 14.24 | -1.63 | 51.31 | -27.53 | 14.99 | 90.46 | -6.2 | -1.47 | 9.54 | 171.61 | 16.45 | 21.73 | 7.79 | -5.11 |
| 21Q2 (7) | 2.32 | -6.45 | -29.48 | 36.72 | -7.23 | -10.72 | 15.46 | -11.05 | -23.73 | 16.03 | -12.69 | -24.06 | 12.78 | -12.82 | -23.38 | 5.55 | -3.65 | -29.3 | 3.27 | -11.86 | -29.22 | 0.26 | 4.0 | -7.14 | 17.98 | -11.43 | -20.79 | 70.80 | 2.74 | 1.58 | 96.44 | 1.93 | 0.45 | 3.51 | -34.71 | -11.94 | 20.16 | -6.62 | 7.69 |
| 21Q1 (6) | 2.48 | 12.22 | 34.05 | 39.58 | 0.3 | 1.51 | 17.38 | -2.47 | 18.47 | 18.36 | 12.71 | 27.68 | 14.66 | 8.35 | 29.05 | 5.76 | 13.39 | 38.13 | 3.71 | 4.8 | 38.95 | 0.25 | -3.85 | 8.7 | 20.30 | 11.91 | 20.98 | 68.91 | 59.37 | -3.09 | 94.62 | -13.48 | -7.27 | 5.38 | 157.43 | 364.2 | 21.59 | 3.15 | -4.81 |
| 20Q4 (5) | 2.21 | -12.3 | -9.05 | 39.46 | -0.83 | 1.02 | 17.82 | 2.71 | -0.28 | 16.29 | -13.81 | 3.96 | 13.53 | -9.68 | 7.13 | 5.08 | -16.99 | -5.05 | 3.54 | -9.46 | -4.07 | 0.26 | 0.0 | -10.34 | 18.14 | -13.12 | 5.4 | 43.24 | -3.09 | -2.28 | 109.37 | 19.12 | -4.11 | -9.37 | -214.34 | 33.37 | 20.93 | -8.6 | 5.87 |
| 20Q3 (4) | 2.52 | -23.4 | 0.0 | 39.79 | -3.26 | 0.0 | 17.35 | -14.41 | 0.0 | 18.90 | -10.47 | 0.0 | 14.98 | -10.19 | 0.0 | 6.12 | -22.04 | 0.0 | 3.91 | -15.37 | 0.0 | 0.26 | -7.14 | 0.0 | 20.88 | -8.02 | 0.0 | 44.62 | -35.98 | 0.0 | 91.81 | -4.38 | 0.0 | 8.19 | 105.41 | 0.0 | 22.90 | 22.33 | 0.0 |
| 20Q2 (3) | 3.29 | 77.84 | 0.0 | 41.13 | 5.49 | 0.0 | 20.27 | 38.17 | 0.0 | 21.11 | 46.8 | 0.0 | 16.68 | 46.83 | 0.0 | 7.85 | 88.25 | 0.0 | 4.62 | 73.03 | 0.0 | 0.28 | 21.74 | 0.0 | 22.70 | 35.28 | 0.0 | 69.70 | -1.98 | 0.0 | 96.01 | -5.9 | 0.0 | 3.99 | 295.89 | 0.0 | 18.72 | -17.46 | 0.0 |
| 20Q1 (2) | 1.85 | -23.87 | 0.0 | 38.99 | -0.18 | 0.0 | 14.67 | -17.91 | 0.0 | 14.38 | -8.23 | 0.0 | 11.36 | -10.06 | 0.0 | 4.17 | -22.06 | 0.0 | 2.67 | -27.64 | 0.0 | 0.23 | -20.69 | 0.0 | 16.78 | -2.5 | 0.0 | 71.11 | 60.7 | 0.0 | 102.04 | -10.54 | 0.0 | -2.04 | 85.52 | 0.0 | 22.68 | 14.72 | 0.0 |
| 19Q4 (1) | 2.43 | 0.0 | 0.0 | 39.06 | 0.0 | 0.0 | 17.87 | 0.0 | 0.0 | 15.67 | 0.0 | 0.0 | 12.63 | 0.0 | 0.0 | 5.35 | 0.0 | 0.0 | 3.69 | 0.0 | 0.0 | 0.29 | 0.0 | 0.0 | 17.21 | 0.0 | 0.0 | 44.25 | 0.0 | 0.0 | 114.06 | 0.0 | 0.0 | -14.06 | 0.0 | 0.0 | 19.77 | 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) | 12.65 | -8.66 | 40.52 | 6.66 | 18.78 | 3.02 | 1.41 | 11.23 | 20.55 | 5.12 | 16.71 | 6.91 | 23.18 | -10.85 | 15.99 | -7.73 | 0.95 | -14.41 | 22.30 | 5.54 | 41.48 | -16.89 | 91.41 | -1.94 | 8.58 | 26.57 | 3.98 | -5.21 | 20.87 | 6.1 |
| 2022 (9) | 13.85 | 29.8 | 37.99 | 0.64 | 18.23 | 9.03 | 1.27 | -10.09 | 19.55 | 11.78 | 15.63 | 10.3 | 26.00 | 14.89 | 17.33 | 12.53 | 1.11 | 1.83 | 21.13 | 8.97 | 49.91 | -1.64 | 93.22 | -2.45 | 6.78 | 52.74 | 4.20 | -8.84 | 19.67 | -3.72 |
| 2021 (8) | 10.67 | 13.51 | 37.75 | -5.39 | 16.72 | -5.43 | 1.41 | -8.95 | 17.49 | -2.07 | 14.17 | -0.84 | 22.63 | 5.01 | 15.40 | 2.46 | 1.09 | 3.81 | 19.39 | -2.02 | 50.74 | 17.35 | 95.56 | -3.47 | 4.44 | 340.21 | 4.61 | -26.49 | 20.43 | -3.68 |
| 2020 (7) | 9.40 | -10.56 | 39.90 | 2.39 | 17.68 | 3.7 | 1.55 | 3.95 | 17.86 | 3.9 | 14.29 | 4.69 | 21.55 | -9.22 | 15.03 | -7.56 | 1.05 | -11.76 | 19.79 | 3.5 | 43.24 | -2.28 | 99.00 | -0.2 | 1.01 | 26.78 | 6.27 | -15.43 | 21.21 | 6.69 |
| 2019 (6) | 10.51 | 16.65 | 38.97 | 1.75 | 17.05 | 11.37 | 1.49 | 28.02 | 17.19 | 4.88 | 13.65 | 5.41 | 23.74 | 7.81 | 16.26 | 8.98 | 1.19 | 3.48 | 19.12 | 6.46 | 44.25 | -9.19 | 99.20 | 6.21 | 0.80 | -87.95 | 7.41 | -17.32 | 19.88 | -0.35 |
| 2018 (5) | 9.01 | 1.92 | 38.30 | -2.22 | 15.31 | 0.2 | 1.17 | -11.88 | 16.39 | -3.47 | 12.95 | -6.57 | 22.02 | -4.84 | 14.92 | -4.05 | 1.15 | 2.68 | 17.96 | -4.67 | 48.73 | 4.5 | 93.40 | 3.82 | 6.60 | -34.16 | 8.97 | 0 | 19.95 | -4.13 |
| 2017 (4) | 8.84 | -1.34 | 39.17 | -3.88 | 15.28 | -3.23 | 1.32 | -4.53 | 16.98 | 0.47 | 13.86 | 2.36 | 23.14 | -0.69 | 15.55 | -1.08 | 1.12 | -3.45 | 18.84 | -0.21 | 46.63 | -10.0 | 89.97 | -3.71 | 10.02 | 52.62 | 0.00 | 0 | 20.81 | -1.84 |
| 2016 (3) | 8.96 | 10.89 | 40.75 | 0.92 | 15.79 | 1.22 | 1.39 | -7.3 | 16.90 | 2.11 | 13.54 | 0.37 | 23.30 | 4.48 | 15.72 | 0.32 | 1.16 | 0.0 | 18.88 | 3.0 | 51.81 | 15.44 | 93.43 | -0.88 | 6.57 | 14.41 | 0.00 | 0 | 21.20 | 1.48 |
| 2015 (2) | 8.08 | 3.59 | 40.38 | 0.25 | 15.60 | 1.17 | 1.49 | 5.97 | 16.55 | -2.36 | 13.49 | -2.25 | 22.30 | -5.15 | 15.67 | -6.39 | 1.16 | -4.13 | 18.33 | -1.72 | 44.88 | 12.23 | 94.26 | 3.62 | 5.74 | -36.47 | 0.00 | 0 | 20.89 | -2.66 |
| 2014 (1) | 7.80 | 7.44 | 40.28 | 0 | 15.42 | 0 | 1.41 | 15.94 | 16.95 | 0 | 13.80 | 0 | 23.51 | 0 | 16.74 | 0 | 1.21 | 1.68 | 18.65 | 0.97 | 39.99 | -4.31 | 90.97 | 0.73 | 9.03 | -6.61 | 0.00 | 0 | 21.46 | -0.51 |
