- 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) | 1.08 | -0.92 | 3.85 | 48.13 | -0.64 | 6.88 | 31.53 | 9.9 | 13.91 | 34.94 | -7.05 | -5.36 | 28.28 | -4.52 | -4.85 | 4.45 | 0.45 | -0.22 | 3.02 | 0.33 | 1.68 | 0.10 | 0.0 | 0.0 | 39.62 | -6.51 | -5.85 | 44.68 | -24.16 | -2.85 | 90.20 | 18.03 | 20.26 | 9.80 | -58.43 | -60.78 | 27.61 | -9.03 | 3.21 |
| 24Q2 (19) | 1.09 | -11.38 | 12.37 | 48.44 | 4.64 | 12.49 | 28.69 | 1.77 | 16.2 | 37.59 | -9.81 | 7.99 | 29.62 | -12.31 | 8.58 | 4.43 | -10.69 | 9.65 | 3.01 | -14.25 | 12.31 | 0.10 | 0.0 | 0.0 | 42.38 | -8.88 | 6.06 | 58.91 | 32.2 | -8.35 | 76.42 | 12.69 | 7.44 | 23.58 | -26.73 | -18.33 | 30.35 | 9.8 | 6.83 |
| 24Q1 (18) | 1.23 | 80.88 | 43.02 | 46.29 | 8.46 | 16.22 | 28.19 | 14.41 | 18.79 | 41.68 | 59.94 | 39.87 | 33.78 | 65.35 | 42.77 | 4.96 | 76.51 | 42.12 | 3.51 | 73.76 | 45.04 | 0.10 | 11.11 | 0.0 | 46.51 | 47.14 | 33.76 | 44.56 | -2.3 | -5.77 | 67.81 | -28.36 | -15.24 | 32.19 | 502.39 | 56.21 | 27.64 | -15.99 | 8.99 |
| 23Q4 (17) | 0.68 | -34.62 | -26.09 | 42.68 | -5.22 | -3.15 | 24.64 | -10.98 | -3.41 | 26.06 | -29.41 | -13.22 | 20.43 | -31.26 | -14.88 | 2.81 | -37.0 | -27.39 | 2.02 | -31.99 | -22.01 | 0.09 | -10.0 | -10.0 | 31.61 | -24.88 | -8.9 | 45.61 | -0.83 | -10.78 | 94.66 | 26.21 | 11.81 | 5.34 | -78.63 | -63.83 | 32.90 | 22.99 | 5.01 |
| 23Q3 (16) | 1.04 | 7.22 | -21.8 | 45.03 | 4.58 | 2.55 | 27.68 | 12.11 | -7.79 | 36.92 | 6.06 | -2.69 | 29.72 | 8.94 | 0.27 | 4.46 | 10.4 | -24.66 | 2.97 | 10.82 | -18.85 | 0.10 | 0.0 | -16.67 | 42.08 | 5.31 | 0.67 | 45.99 | -28.45 | -18.47 | 75.00 | 5.45 | -5.43 | 25.00 | -13.43 | 18.64 | 26.75 | -5.84 | 17.17 |
| 23Q2 (15) | 0.97 | 12.79 | -21.77 | 43.06 | 8.11 | 4.21 | 24.69 | 4.05 | -10.15 | 34.81 | 16.81 | 3.51 | 27.28 | 15.3 | 5.61 | 4.04 | 15.76 | -26.41 | 2.68 | 10.74 | -19.76 | 0.10 | 0.0 | -23.08 | 39.96 | 14.93 | 7.74 | 64.28 | 35.93 | -13.42 | 71.12 | -11.1 | -13.03 | 28.88 | 40.14 | 58.5 | 28.41 | 12.03 | 22.19 |
| 23Q1 (14) | 0.86 | -6.52 | -7.53 | 39.83 | -9.62 | 0.5 | 23.73 | -6.98 | 7.18 | 29.80 | -0.77 | 4.75 | 23.66 | -1.42 | 5.06 | 3.49 | -9.82 | -14.04 | 2.42 | -6.56 | -4.35 | 0.10 | 0.0 | -9.09 | 34.77 | 0.2 | 7.35 | 47.29 | -7.49 | -23.28 | 80.00 | -5.5 | 2.86 | 20.61 | 39.49 | -7.27 | 25.36 | -19.06 | -7.28 |
| 22Q4 (13) | 0.92 | -30.83 | -8.0 | 44.07 | 0.36 | 13.64 | 25.51 | -15.02 | 10.86 | 30.03 | -20.85 | 5.0 | 24.00 | -19.03 | 1.39 | 3.87 | -34.63 | -15.32 | 2.59 | -29.23 | -3.0 | 0.10 | -16.67 | -9.09 | 34.70 | -16.99 | 7.43 | 51.12 | -9.38 | -22.72 | 84.66 | 6.74 | 5.11 | 14.77 | -29.9 | -24.08 | 31.33 | 37.23 | 21.15 |
| 22Q3 (12) | 1.33 | 7.26 | 16.67 | 43.91 | 6.27 | 11.39 | 30.02 | 9.24 | 12.65 | 37.94 | 12.82 | 23.5 | 29.64 | 14.75 | 21.18 | 5.92 | 7.83 | 14.95 | 3.66 | 9.58 | 19.61 | 0.12 | -7.69 | 0.0 | 41.80 | 12.7 | 22.65 | 56.41 | -24.02 | -31.66 | 79.31 | -3.02 | -8.58 | 21.07 | 15.67 | 59.14 | 22.83 | -1.81 | 0.75 |
| 22Q2 (11) | 1.24 | 33.33 | 24.0 | 41.32 | 4.26 | 6.96 | 27.48 | 24.12 | 14.02 | 33.63 | 18.21 | 24.93 | 25.83 | 14.7 | 24.0 | 5.49 | 35.22 | 23.65 | 3.34 | 32.02 | 21.01 | 0.13 | 18.18 | 0.0 | 37.09 | 14.51 | 22.53 | 74.24 | 20.44 | 22.63 | 81.78 | 5.15 | -8.46 | 18.22 | -18.02 | 70.91 | 23.25 | -14.99 | -3.37 |
| 22Q1 (10) | 0.93 | -7.0 | 36.76 | 39.63 | 2.19 | 6.76 | 22.14 | -3.78 | 10.26 | 28.45 | -0.52 | 23.75 | 22.52 | -4.86 | 24.01 | 4.06 | -11.16 | 28.89 | 2.53 | -5.24 | 32.46 | 0.11 | 0.0 | 10.0 | 32.39 | 0.28 | 18.78 | 61.64 | -6.82 | -9.17 | 77.78 | -3.43 | -10.72 | 22.22 | 14.2 | 72.55 | 27.35 | 5.76 | 5.44 |
| 21Q4 (9) | 1.00 | -12.28 | 31.58 | 38.78 | -1.62 | 5.55 | 23.01 | -13.66 | 5.45 | 28.60 | -6.9 | 27.39 | 23.67 | -3.23 | 38.99 | 4.57 | -11.26 | 25.21 | 2.67 | -12.75 | 30.24 | 0.11 | -8.33 | -8.33 | 32.30 | -5.22 | 24.81 | 66.15 | -19.86 | -7.14 | 80.54 | -7.17 | -17.3 | 19.46 | 46.95 | 644.32 | 25.86 | 14.12 | 4.78 |
| 21Q3 (8) | 1.14 | 14.0 | 32.56 | 39.42 | 2.05 | 4.81 | 26.65 | 10.58 | 14.48 | 30.72 | 14.12 | 26.26 | 24.46 | 17.43 | 24.73 | 5.15 | 15.99 | 18.94 | 3.06 | 10.87 | 36.61 | 0.12 | -7.69 | 9.09 | 34.08 | 12.59 | 22.06 | 82.54 | 36.34 | -15.45 | 86.76 | -2.89 | -9.4 | 13.24 | 24.22 | 212.13 | 22.66 | -5.82 | -1.39 |
| 21Q2 (7) | 1.00 | 47.06 | 51.52 | 38.63 | 4.07 | 1.95 | 24.10 | 20.02 | 16.43 | 26.92 | 17.09 | 24.4 | 20.83 | 14.7 | 16.56 | 4.44 | 40.95 | 37.46 | 2.76 | 44.5 | 56.82 | 0.13 | 30.0 | 44.44 | 30.27 | 11.0 | 16.51 | 60.54 | -10.79 | -39.9 | 89.34 | 2.55 | -6.04 | 10.66 | -17.23 | 160.1 | 24.06 | -7.25 | -12.19 |
| 21Q1 (6) | 0.68 | -10.53 | 9.68 | 37.12 | 1.03 | 1.03 | 20.08 | -7.97 | 24.72 | 22.99 | 2.41 | 9.22 | 18.16 | 6.64 | 5.77 | 3.15 | -13.7 | 5.35 | 1.91 | -6.83 | 13.02 | 0.10 | -16.67 | 11.11 | 27.27 | 5.37 | 6.19 | 67.86 | -4.74 | -18.35 | 87.12 | -10.54 | 13.55 | 12.88 | 392.61 | -44.67 | 25.94 | 5.11 | -11.77 |
| 20Q4 (5) | 0.76 | -11.63 | -8.43 | 36.74 | -2.31 | -2.47 | 21.82 | -6.27 | -0.95 | 22.45 | -7.73 | 1.91 | 17.03 | -13.16 | -3.29 | 3.65 | -15.7 | -11.84 | 2.05 | -8.48 | -9.29 | 0.12 | 9.09 | 0.0 | 25.88 | -7.31 | 0.74 | 71.24 | -27.02 | -19.24 | 97.39 | 1.7 | -2.61 | 2.61 | -38.38 | 0 | 24.68 | 7.4 | 8.25 |
| 20Q3 (4) | 0.86 | 30.3 | 0.0 | 37.61 | -0.74 | 0.0 | 23.28 | 12.46 | 0.0 | 24.33 | 12.43 | 0.0 | 19.61 | 9.74 | 0.0 | 4.33 | 34.06 | 0.0 | 2.24 | 27.27 | 0.0 | 0.11 | 22.22 | 0.0 | 27.92 | 7.47 | 0.0 | 97.62 | -3.09 | 0.0 | 95.76 | 0.71 | 0.0 | 4.24 | 3.52 | 0.0 | 22.98 | -16.13 | 0.0 |
| 20Q2 (3) | 0.66 | 6.45 | 0.0 | 37.89 | 3.13 | 0.0 | 20.70 | 28.57 | 0.0 | 21.64 | 2.8 | 0.0 | 17.87 | 4.08 | 0.0 | 3.23 | 8.03 | 0.0 | 1.76 | 4.14 | 0.0 | 0.09 | 0.0 | 0.0 | 25.98 | 1.17 | 0.0 | 100.73 | 21.2 | 0.0 | 95.08 | 23.93 | 0.0 | 4.10 | -82.39 | 0.0 | 27.40 | -6.8 | 0.0 |
| 20Q1 (2) | 0.62 | -25.3 | 0.0 | 36.74 | -2.47 | 0.0 | 16.10 | -26.92 | 0.0 | 21.05 | -4.45 | 0.0 | 17.17 | -2.5 | 0.0 | 2.99 | -27.78 | 0.0 | 1.69 | -25.22 | 0.0 | 0.09 | -25.0 | 0.0 | 25.68 | -0.04 | 0.0 | 83.11 | -5.78 | 0.0 | 76.72 | -23.28 | 0.0 | 23.28 | 0 | 0.0 | 29.40 | 28.95 | 0.0 |
| 19Q4 (1) | 0.83 | 0.0 | 0.0 | 37.67 | 0.0 | 0.0 | 22.03 | 0.0 | 0.0 | 22.03 | 0.0 | 0.0 | 17.61 | 0.0 | 0.0 | 4.14 | 0.0 | 0.0 | 2.26 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 25.69 | 0.0 | 0.0 | 88.21 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 22.80 | 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) | 3.55 | -19.86 | 42.62 | 1.0 | 25.17 | -4.77 | 4.05 | 25.73 | 31.96 | -2.32 | 25.32 | -1.17 | 14.57 | -23.32 | 10.16 | -17.13 | 0.39 | -17.02 | 37.16 | 1.42 | 45.61 | -10.78 | 78.68 | -2.61 | 21.18 | 10.22 | 0.37 | -1.1 | 28.26 | 9.07 |
| 2022 (9) | 4.43 | 15.97 | 42.20 | 9.47 | 26.43 | 11.75 | 3.22 | 5.77 | 32.72 | 18.98 | 25.62 | 16.88 | 19.00 | 8.7 | 12.26 | 15.99 | 0.47 | 0.0 | 36.64 | 17.7 | 51.12 | -22.72 | 80.79 | -6.13 | 19.21 | 36.54 | 0.38 | 1.95 | 25.91 | 5.63 |
| 2021 (8) | 3.82 | 31.72 | 38.55 | 3.52 | 23.65 | 14.31 | 3.04 | -0.95 | 27.50 | 22.39 | 21.92 | 22.05 | 17.48 | 25.3 | 10.57 | 31.14 | 0.47 | 9.3 | 31.13 | 17.83 | 66.15 | -7.14 | 86.07 | -6.54 | 14.07 | 77.81 | 0.37 | -6.69 | 24.53 | -5.25 |
| 2020 (7) | 2.90 | -9.09 | 37.24 | -1.61 | 20.69 | 1.67 | 3.07 | 2.45 | 22.47 | -2.05 | 17.96 | -1.75 | 13.95 | -11.32 | 8.06 | -8.2 | 0.43 | -6.52 | 26.42 | -1.53 | 71.24 | -19.24 | 92.09 | 3.79 | 7.91 | -29.81 | 0.40 | 0.94 | 25.89 | 1.53 |
| 2019 (6) | 3.19 | -2.15 | 37.85 | 2.63 | 20.35 | 5.22 | 3.00 | 12.7 | 22.94 | 2.41 | 18.28 | 2.99 | 15.73 | -4.49 | 8.78 | 3.66 | 0.46 | 0.0 | 26.83 | 2.68 | 88.21 | 5.79 | 88.73 | 2.89 | 11.27 | -17.15 | 0.39 | 0.54 | 25.50 | 3.49 |
| 2018 (5) | 3.26 | 7.95 | 36.88 | -2.25 | 19.34 | -5.89 | 2.66 | 9.68 | 22.40 | 21.34 | 17.75 | 12.63 | 16.47 | 7.37 | 8.47 | 17.15 | 0.46 | 6.98 | 26.13 | 16.81 | 83.38 | -33.04 | 86.23 | -22.65 | 13.61 | 0 | 0.39 | 0 | 24.64 | -0.73 |
| 2017 (4) | 3.02 | -18.6 | 37.73 | -4.41 | 20.55 | -3.61 | 2.42 | 9.15 | 18.46 | -18.25 | 15.76 | -12.59 | 15.34 | -20.68 | 7.23 | -22.42 | 0.43 | -12.24 | 22.37 | -14.36 | 124.52 | -5.6 | 111.48 | 17.95 | -11.30 | 0 | 0.00 | 0 | 24.82 | 2.69 |
| 2016 (3) | 3.71 | -12.91 | 39.47 | 0.92 | 21.32 | 20.05 | 2.22 | 6.7 | 22.58 | -3.79 | 18.03 | -8.57 | 19.34 | -17.39 | 9.32 | -18.96 | 0.49 | -12.5 | 26.12 | -2.32 | 131.91 | 24.08 | 94.51 | 24.84 | 5.63 | -76.84 | 0.00 | 0 | 24.17 | 0.67 |
| 2015 (2) | 4.26 | 10.94 | 39.11 | 7.68 | 17.76 | 6.86 | 2.08 | 47.74 | 23.47 | 13.71 | 19.72 | 13.66 | 23.41 | 4.79 | 11.50 | 8.8 | 0.56 | -3.45 | 26.74 | 15.16 | 106.31 | -11.83 | 75.71 | -5.97 | 24.29 | 24.66 | 0.00 | 0 | 24.01 | 6.76 |
| 2014 (1) | 3.84 | 17.43 | 36.32 | 0 | 16.62 | 0 | 1.41 | -30.79 | 20.64 | 0 | 17.35 | 0 | 22.34 | 0 | 10.57 | 0 | 0.58 | -22.67 | 23.22 | 12.45 | 120.58 | -3.14 | 80.51 | 0.43 | 19.49 | -1.76 | 0.00 | 0 | 22.49 | 6.49 |
