- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q1 (20) | 0.53 | 43.24 | 26.19 | 23.73 | -31.4 | -39.74 | 5.79 | -47.41 | -49.74 | 8.29 | 18.09 | -19.36 | 6.88 | 31.3 | -18.77 | 3.35 | 39.58 | 7.03 | 1.66 | 38.33 | 11.41 | 0.22 | 10.0 | 37.5 | 10.62 | 10.74 | -20.03 | 117.06 | -1.9 | -6.49 | 69.84 | -55.24 | -37.41 | 30.16 | 152.78 | 360.46 | 14.64 | -19.65 | -36.04 |
| 23Q4 (19) | 0.37 | 12.12 | 311.11 | 34.59 | 13.34 | 12.05 | 11.01 | 376.62 | 139.87 | 7.02 | -3.31 | 328.05 | 5.24 | -14.94 | 256.46 | 2.40 | 0.42 | 247.83 | 1.20 | 4.35 | 192.68 | 0.20 | 25.0 | -4.76 | 9.59 | -8.84 | 135.05 | 119.33 | -9.1 | -7.8 | 156.04 | 388.49 | -42.98 | -57.14 | -183.97 | 67.1 | 18.22 | -19.06 | -10.33 |
| 23Q3 (18) | 0.33 | 32.0 | 0.0 | 30.52 | -18.61 | -16.43 | 2.31 | -50.32 | -45.0 | 7.26 | -3.07 | -33.03 | 6.16 | 4.76 | -24.79 | 2.39 | 33.52 | -8.08 | 1.15 | 27.78 | -10.16 | 0.16 | 23.08 | 14.29 | 10.52 | -6.9 | -26.18 | 131.28 | -9.85 | 9.46 | 31.94 | -48.53 | -16.53 | 68.06 | 79.42 | 12.5 | 22.51 | -14.48 | -11.1 |
| 23Q2 (17) | 0.25 | -40.48 | -19.35 | 37.50 | -4.77 | 21.6 | 4.65 | -59.64 | -40.76 | 7.49 | -27.14 | 8.39 | 5.88 | -30.58 | 10.73 | 1.79 | -42.81 | -26.64 | 0.90 | -39.6 | -25.62 | 0.13 | -18.75 | -38.1 | 11.30 | -14.91 | 24.45 | 145.62 | 16.33 | 22.94 | 62.07 | -44.37 | -45.32 | 37.93 | 427.59 | 380.69 | 26.32 | 14.98 | 39.85 |
| 23Q1 (16) | 0.42 | 366.67 | 35.48 | 39.38 | 27.57 | 12.1 | 11.52 | 150.98 | 29.73 | 10.28 | 526.83 | 16.69 | 8.47 | 476.19 | 24.56 | 3.13 | 353.62 | 25.2 | 1.49 | 263.41 | 18.25 | 0.16 | -23.81 | -11.11 | 13.28 | 225.49 | 18.78 | 125.18 | -3.28 | 12.55 | 111.58 | -59.23 | 10.11 | -11.58 | 93.33 | -768.42 | 22.89 | 12.65 | 4.66 |
| 22Q4 (15) | 0.09 | -72.73 | -62.5 | 30.87 | -15.47 | 23.18 | 4.59 | 9.29 | 70.63 | 1.64 | -84.87 | -62.56 | 1.47 | -82.05 | -57.14 | 0.69 | -73.46 | -65.15 | 0.41 | -67.97 | -59.8 | 0.21 | 50.0 | -25.0 | 4.08 | -71.37 | -30.38 | 129.43 | 7.92 | 28.9 | 273.68 | 615.11 | 353.53 | -173.68 | -387.11 | -557.89 | 20.32 | -19.75 | 15.32 |
| 22Q3 (14) | 0.33 | 6.45 | 22.22 | 36.52 | 18.42 | -4.32 | 4.20 | -46.5 | -49.46 | 10.84 | 56.87 | 22.21 | 8.19 | 54.24 | 15.35 | 2.60 | 6.56 | 15.04 | 1.28 | 5.79 | 13.27 | 0.14 | -33.33 | -6.67 | 14.25 | 56.94 | 23.91 | 119.93 | 1.25 | 8.34 | 38.27 | -66.28 | -59.13 | 60.49 | 547.65 | 852.78 | 25.32 | 34.54 | 6.84 |
| 22Q2 (13) | 0.31 | 0.0 | 93.75 | 30.84 | -12.21 | 2.22 | 7.85 | -11.6 | 86.9 | 6.91 | -21.57 | 62.59 | 5.31 | -21.91 | 36.15 | 2.44 | -2.4 | 79.41 | 1.21 | -3.97 | 75.36 | 0.21 | 16.67 | 31.25 | 9.08 | -18.78 | 39.05 | 118.45 | 6.5 | 5.97 | 113.51 | 12.02 | 13.51 | -13.51 | -913.51 | 0 | 18.82 | -13.95 | -8.28 |
| 22Q1 (12) | 0.31 | 29.17 | 138.46 | 35.13 | 40.18 | 3.26 | 8.88 | 230.11 | 149.44 | 8.81 | 101.14 | 108.27 | 6.80 | 98.25 | 100.0 | 2.50 | 26.26 | 140.38 | 1.26 | 23.53 | 129.09 | 0.18 | -35.71 | 20.0 | 11.18 | 90.78 | 62.74 | 111.22 | 10.77 | -5.16 | 101.33 | 67.92 | 22.44 | -1.33 | -103.52 | -107.73 | 21.87 | 24.12 | -8.91 |
| 21Q4 (11) | 0.24 | -11.11 | 300.0 | 25.06 | -34.35 | 1.17 | 2.69 | -67.63 | 13350.0 | 4.38 | -50.62 | 305.56 | 3.43 | -51.69 | 253.61 | 1.98 | -12.39 | 330.43 | 1.02 | -9.73 | 251.72 | 0.28 | 86.67 | 16.67 | 5.86 | -49.04 | 128.91 | 100.41 | -9.3 | 2.57 | 60.34 | -35.56 | 0 | 37.93 | 497.41 | -62.07 | 17.62 | -25.65 | -7.85 |
| 21Q3 (10) | 0.27 | 68.75 | 3.85 | 38.17 | 26.52 | 4.69 | 8.31 | 97.86 | 1.71 | 8.87 | 108.71 | 7.91 | 7.10 | 82.05 | 9.4 | 2.26 | 66.18 | 5.12 | 1.13 | 63.77 | 0.0 | 0.15 | -6.25 | -11.76 | 11.50 | 76.11 | 9.84 | 110.70 | -0.97 | 18.42 | 93.65 | -6.35 | -4.76 | 6.35 | 0 | 0 | 23.70 | 15.5 | 7.24 |
| 21Q2 (9) | 0.16 | 23.08 | -44.83 | 30.17 | -11.32 | -19.57 | 4.20 | 17.98 | -44.59 | 4.25 | 0.47 | -55.45 | 3.90 | 14.71 | -49.09 | 1.36 | 30.77 | -44.49 | 0.69 | 25.45 | -44.8 | 0.16 | 6.67 | 6.67 | 6.53 | -4.95 | -46.12 | 111.78 | -4.68 | 5.58 | 100.00 | 20.83 | 24.53 | 0.00 | -100.0 | -100.0 | 20.52 | -14.54 | 0 |
| 21Q1 (8) | 0.13 | 116.67 | 333.33 | 34.02 | 37.34 | -6.15 | 3.56 | 17700.0 | 1994.12 | 4.23 | 291.67 | 202.14 | 3.40 | 250.52 | 257.89 | 1.04 | 126.09 | 333.33 | 0.55 | 89.66 | 223.53 | 0.15 | -37.5 | 25.0 | 6.87 | 168.36 | 50.99 | 117.27 | 19.8 | 6.81 | 82.76 | 0 | 562.07 | 17.24 | -82.76 | -80.3 | 24.01 | 25.58 | 0 |
| 20Q4 (7) | 0.06 | -76.92 | -76.0 | 24.77 | -32.06 | 0.77 | 0.02 | -99.76 | -98.43 | 1.08 | -86.86 | -70.33 | 0.97 | -85.05 | -74.41 | 0.46 | -78.6 | -78.3 | 0.29 | -74.34 | -72.38 | 0.24 | 41.18 | -7.69 | 2.56 | -75.55 | -48.28 | 97.89 | 4.72 | -8.02 | 0.00 | -100.0 | -100.0 | 100.00 | 0 | 51.72 | 19.12 | -13.48 | 16.8 |
| 20Q3 (6) | 0.26 | -10.34 | 30.0 | 36.46 | -2.8 | 2.5 | 8.17 | 7.78 | 108.42 | 8.22 | -13.84 | 36.54 | 6.49 | -15.27 | 11.7 | 2.15 | -12.24 | 25.73 | 1.13 | -9.6 | 36.14 | 0.17 | 13.33 | 30.77 | 10.47 | -13.61 | 24.2 | 93.48 | -11.7 | -21.26 | 98.33 | 22.45 | 49.47 | 0.00 | -100.0 | -100.0 | 22.10 | 0 | -7.88 |
| 20Q2 (5) | 0.29 | 866.67 | 107.14 | 37.51 | 3.48 | 8.69 | 7.58 | 4358.82 | 264.42 | 9.54 | 581.43 | 86.33 | 7.66 | 706.32 | 82.38 | 2.45 | 920.83 | 107.63 | 1.25 | 635.29 | 104.92 | 0.15 | 25.0 | 15.38 | 12.12 | 166.37 | 59.06 | 105.87 | -3.57 | -12.25 | 80.30 | 542.42 | 91.49 | 21.21 | -75.76 | -63.47 | 0.00 | 0 | -100.0 |
| 20Q1 (4) | 0.03 | -88.0 | 0.0 | 36.25 | 47.48 | 0.0 | 0.17 | -86.61 | 0.0 | 1.40 | -61.54 | 0.0 | 0.95 | -74.93 | 0.0 | 0.24 | -88.68 | 0.0 | 0.17 | -83.81 | 0.0 | 0.12 | -53.85 | 0.0 | 4.55 | -8.08 | 0.0 | 109.79 | 3.16 | 0.0 | 12.50 | -63.33 | 0.0 | 87.50 | 32.76 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (3) | 0.25 | 25.0 | 0.0 | 24.58 | -30.9 | 0.0 | 1.27 | -67.6 | 0.0 | 3.64 | -39.53 | 0.0 | 3.79 | -34.77 | 0.0 | 2.12 | 23.98 | 0.0 | 1.05 | 26.51 | 0.0 | 0.26 | 100.0 | 0.0 | 4.95 | -41.28 | 0.0 | 106.43 | -10.35 | 0.0 | 34.09 | -48.18 | 0.0 | 65.91 | 92.66 | 0.0 | 16.37 | -31.76 | 0.0 |
| 19Q3 (2) | 0.20 | 42.86 | 0.0 | 35.57 | 3.07 | 0.0 | 3.92 | 88.46 | 0.0 | 6.02 | 17.58 | 0.0 | 5.81 | 38.33 | 0.0 | 1.71 | 44.92 | 0.0 | 0.83 | 36.07 | 0.0 | 0.13 | 0.0 | 0.0 | 8.43 | 10.63 | 0.0 | 118.72 | -1.6 | 0.0 | 65.79 | 56.88 | 0.0 | 34.21 | -41.08 | 0.0 | 23.99 | -3.03 | 0.0 |
| 19Q2 (1) | 0.14 | 0.0 | 0.0 | 34.51 | 0.0 | 0.0 | 2.08 | 0.0 | 0.0 | 5.12 | 0.0 | 0.0 | 4.20 | 0.0 | 0.0 | 1.18 | 0.0 | 0.0 | 0.61 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 7.62 | 0.0 | 0.0 | 120.65 | 0.0 | 0.0 | 41.94 | 0.0 | 0.0 | 58.06 | 0.0 | 0.0 | 24.74 | 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) | 1.36 | 30.77 | 35.25 | 7.05 | 7.73 | 20.78 | 1.89 | 3.71 | 7.93 | 21.25 | 6.34 | 25.05 | 9.17 | 12.79 | 4.62 | 12.68 | 0.65 | -13.33 | 10.98 | 21.33 | 119.33 | -7.8 | 97.46 | -0.12 | 2.54 | 4.97 | 0.12 | 33.31 | 21.94 | 3.34 |
| 2022 (9) | 1.04 | 28.4 | 32.93 | 7.47 | 6.40 | 47.13 | 1.82 | 11.53 | 6.54 | 24.81 | 5.07 | 18.46 | 8.13 | 22.81 | 4.10 | 15.82 | 0.75 | -3.85 | 9.05 | 22.96 | 129.43 | 28.9 | 97.58 | 17.48 | 2.42 | -85.72 | 0.09 | 2.46 | 21.23 | 2.26 |
| 2021 (8) | 0.81 | 28.57 | 30.64 | -5.98 | 4.35 | 16.31 | 1.63 | 4.98 | 5.24 | 9.17 | 4.28 | 11.75 | 6.62 | 26.34 | 3.54 | 25.53 | 0.78 | 14.71 | 7.36 | 4.84 | 100.41 | 2.57 | 83.06 | 6.58 | 16.94 | -23.24 | 0.09 | -23.18 | 20.76 | -6.95 |
| 2020 (7) | 0.63 | 0.0 | 32.59 | 7.17 | 3.74 | 106.63 | 1.56 | 15.32 | 4.80 | 19.11 | 3.83 | 0.26 | 5.24 | -2.06 | 2.82 | -1.4 | 0.68 | -1.45 | 7.02 | 16.61 | 97.89 | -8.02 | 77.93 | 74.28 | 22.07 | -59.49 | 0.11 | -35.81 | 22.31 | 4.25 |
| 2019 (6) | 0.63 | 0.0 | 30.41 | 8.76 | 1.81 | -37.8 | 1.35 | 126.17 | 4.03 | 12.26 | 3.82 | 10.72 | 5.35 | -0.56 | 2.86 | 0.35 | 0.69 | -9.21 | 6.02 | 25.42 | 106.43 | 8.15 | 44.72 | -44.68 | 54.47 | 184.2 | 0.18 | -41.76 | 21.40 | 10.2 |
| 2018 (5) | 0.63 | 61.54 | 27.96 | 9.73 | 2.91 | 24.89 | 0.60 | 31.07 | 3.59 | 35.47 | 3.45 | 54.02 | 5.38 | 54.6 | 2.85 | 39.71 | 0.76 | -2.56 | 4.80 | 26.65 | 98.41 | -13.15 | 80.83 | -7.62 | 19.17 | 53.33 | 0.30 | 0 | 19.42 | 5.54 |
| 2017 (4) | 0.39 | 44.44 | 25.48 | -7.08 | 2.33 | 108.04 | 0.45 | -18.2 | 2.65 | 30.54 | 2.24 | 22.4 | 3.48 | 48.09 | 2.04 | 31.61 | 0.78 | 8.33 | 3.79 | 20.32 | 113.31 | 35.7 | 87.50 | 60.42 | 12.50 | -71.35 | 0.00 | 0 | 18.40 | -11.37 |
| 2016 (3) | 0.27 | 50.0 | 27.42 | -9.83 | 1.12 | 8.74 | 0.56 | -10.1 | 2.03 | 27.67 | 1.83 | 26.21 | 2.35 | 50.64 | 1.55 | 40.91 | 0.72 | 7.46 | 3.15 | 16.67 | 83.50 | 16.46 | 54.55 | -14.62 | 43.64 | 20.84 | 0.00 | 0 | 20.76 | -10.82 |
| 2015 (2) | 0.18 | 50.0 | 30.41 | -3.49 | 1.03 | 0 | 0.62 | -20.52 | 1.59 | 3.92 | 1.45 | 27.19 | 1.56 | 48.57 | 1.10 | 52.78 | 0.67 | 9.84 | 2.70 | 1.89 | 71.70 | 48.76 | 63.89 | 0 | 36.11 | -69.2 | 0.00 | 0 | 23.28 | -5.9 |
| 2014 (1) | 0.12 | 0 | 31.51 | 0 | -0.22 | 0 | 0.78 | 8.44 | 1.53 | 0 | 1.14 | 0 | 1.05 | 0 | 0.72 | 0 | 0.61 | -10.29 | 2.65 | 636.11 | 48.20 | -7.09 | -13.79 | 0 | 117.24 | 0 | 0.00 | 0 | 24.74 | 15.88 |
