- 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) | 2.96 | -13.45 | 13.85 | 39.64 | -3.97 | 0.92 | 24.27 | -1.9 | 5.16 | 25.31 | -17.96 | 0.72 | 18.62 | -16.99 | -1.95 | 3.65 | -16.48 | -1.35 | 2.36 | -18.9 | -5.22 | 0.12 | -7.69 | -7.69 | 31.41 | -13.38 | 1.78 | 56.64 | -2.7 | 23.64 | 96.00 | 19.9 | 4.49 | 4.00 | -79.76 | -50.78 | 27.53 | -3.71 | -1.15 |
| 24Q2 (19) | 3.42 | 31.54 | 40.74 | 41.28 | 1.25 | 14.32 | 24.74 | 4.52 | 25.27 | 30.85 | 10.38 | 38.84 | 22.43 | 6.25 | 30.18 | 4.37 | 29.29 | 25.57 | 2.91 | 23.31 | 23.31 | 0.13 | 18.18 | -7.14 | 36.26 | 5.81 | 30.15 | 58.21 | 31.13 | 6.69 | 80.07 | -5.65 | -9.9 | 19.77 | 28.64 | 77.47 | 28.59 | -5.17 | 2.51 |
| 24Q1 (18) | 2.60 | -8.45 | 11.11 | 40.77 | -2.53 | 7.6 | 23.67 | -2.75 | 3.32 | 27.95 | 6.07 | 17.98 | 21.11 | 4.61 | 19.27 | 3.38 | -11.29 | 1.2 | 2.36 | -10.94 | 3.51 | 0.11 | -15.38 | -15.38 | 34.27 | 7.26 | 15.08 | 44.39 | -0.2 | 2.28 | 84.86 | -8.08 | -12.34 | 15.37 | 100.2 | 381.1 | 30.15 | 2.27 | 9.48 |
| 23Q4 (17) | 2.84 | 9.23 | 115.15 | 41.83 | 6.49 | 35.2 | 24.34 | 5.46 | 103.0 | 26.35 | 4.85 | 134.01 | 20.18 | 6.27 | 115.14 | 3.81 | 2.97 | 93.4 | 2.65 | 6.43 | 100.76 | 0.13 | 0.0 | -7.14 | 31.95 | 3.53 | 91.43 | 44.48 | -2.9 | -17.37 | 92.32 | 0.49 | -13.42 | 7.68 | -5.54 | 215.69 | 29.48 | 5.85 | -3.47 |
| 23Q3 (16) | 2.60 | 7.0 | -16.93 | 39.28 | 8.78 | 17.32 | 23.08 | 16.86 | 25.09 | 25.13 | 13.1 | -8.49 | 18.99 | 10.21 | -11.1 | 3.70 | 6.32 | -20.77 | 2.49 | 5.51 | -16.72 | 0.13 | -7.14 | -7.14 | 30.86 | 10.77 | -6.29 | 45.81 | -16.04 | -14.37 | 91.87 | 3.39 | 37.02 | 8.13 | -27.04 | -75.19 | 27.85 | -0.14 | 9.95 |
| 23Q2 (15) | 2.43 | 3.85 | -23.58 | 36.11 | -4.7 | -3.89 | 19.75 | -13.79 | -6.71 | 22.22 | -6.21 | -22.69 | 17.23 | -2.66 | -20.45 | 3.48 | 4.19 | -27.04 | 2.36 | 3.51 | -24.6 | 0.14 | 7.69 | 0.0 | 27.86 | -6.45 | -18.06 | 54.56 | 25.71 | -12.48 | 88.86 | -8.21 | 20.69 | 11.14 | 248.72 | -57.77 | 27.89 | 1.27 | 0.5 |
| 23Q1 (14) | 2.34 | 77.27 | -24.52 | 37.89 | 22.46 | -3.54 | 22.91 | 91.08 | -2.96 | 23.69 | 110.39 | -18.17 | 17.70 | 88.7 | -20.2 | 3.34 | 69.54 | -28.33 | 2.28 | 72.73 | -27.39 | 0.13 | -7.14 | -7.14 | 29.78 | 78.43 | -12.69 | 43.40 | -19.38 | -4.0 | 96.81 | -9.22 | 18.67 | 3.19 | 148.14 | -82.67 | 27.54 | -9.82 | 0.33 |
| 22Q4 (13) | 1.32 | -57.83 | -52.86 | 30.94 | -7.59 | -24.54 | 11.99 | -35.01 | -48.67 | 11.26 | -58.99 | -53.83 | 9.38 | -56.09 | -51.97 | 1.97 | -57.82 | -56.42 | 1.32 | -55.85 | -54.33 | 0.14 | 0.0 | -6.67 | 16.69 | -49.32 | -42.69 | 53.83 | 0.62 | 1.39 | 106.64 | 59.03 | 11.28 | -6.64 | -120.26 | -258.89 | 30.54 | 20.57 | 0.1 |
| 22Q3 (12) | 3.13 | -1.57 | 6.46 | 33.48 | -10.89 | -20.61 | 18.45 | -12.85 | -33.97 | 27.46 | -4.45 | -4.62 | 21.36 | -1.39 | 7.72 | 4.67 | -2.1 | -1.06 | 2.99 | -4.47 | -2.29 | 0.14 | 0.0 | -6.67 | 32.93 | -3.15 | -0.63 | 53.50 | -14.18 | -13.16 | 67.05 | -8.93 | -30.82 | 32.76 | 24.2 | 1030.06 | 25.33 | -8.72 | -1.21 |
| 22Q2 (11) | 3.18 | 2.58 | -6.19 | 37.57 | -4.35 | -16.95 | 21.17 | -10.33 | -33.68 | 28.74 | -0.73 | -6.23 | 21.66 | -2.34 | -3.3 | 4.77 | 2.36 | -12.8 | 3.13 | -0.32 | -16.09 | 0.14 | 0.0 | -17.65 | 34.00 | -0.32 | -2.3 | 62.34 | 37.89 | 27.12 | 73.63 | -9.74 | -29.31 | 26.37 | 43.13 | 734.02 | 27.75 | 1.09 | 7.98 |
| 22Q1 (10) | 3.10 | 10.71 | -2.52 | 39.28 | -4.2 | -11.39 | 23.61 | 1.07 | -21.33 | 28.95 | 18.7 | -7.74 | 22.18 | 13.57 | -4.23 | 4.66 | 3.1 | -12.57 | 3.14 | 8.65 | -14.21 | 0.14 | -6.67 | -12.5 | 34.11 | 17.14 | -5.22 | 45.21 | -14.84 | -0.57 | 81.57 | -14.87 | -14.72 | 18.43 | 341.26 | 323.8 | 27.45 | -10.03 | 8.03 |
| 21Q4 (9) | 2.80 | -4.76 | -16.17 | 41.00 | -2.77 | -14.48 | 23.36 | -16.39 | -26.66 | 24.39 | -15.28 | -22.96 | 19.53 | -1.51 | -22.16 | 4.52 | -4.24 | -24.29 | 2.89 | -5.56 | -28.99 | 0.15 | 0.0 | -6.25 | 29.12 | -12.13 | -19.74 | 53.09 | -13.83 | 10.21 | 95.82 | -1.13 | -4.71 | 4.18 | 44.07 | 851.65 | 30.51 | 18.99 | 13.46 |
| 21Q3 (8) | 2.94 | -13.27 | -10.09 | 42.17 | -6.79 | -12.55 | 27.94 | -12.47 | -21.87 | 28.79 | -6.07 | -20.97 | 19.83 | -11.47 | -23.35 | 4.72 | -13.71 | -25.2 | 3.06 | -17.96 | -29.33 | 0.15 | -11.76 | -11.76 | 33.14 | -4.77 | -18.77 | 61.61 | 25.63 | 32.49 | 96.92 | -6.95 | -1.24 | 2.90 | 169.68 | 55.47 | 25.64 | -0.23 | 49.68 |
| 21Q2 (7) | 3.39 | 6.6 | 28.41 | 45.24 | 2.05 | -1.91 | 31.92 | 6.36 | -0.06 | 30.65 | -2.33 | -2.14 | 22.40 | -3.28 | -0.31 | 5.47 | 2.63 | 6.21 | 3.73 | 1.91 | 0.54 | 0.17 | 6.25 | 6.25 | 34.80 | -3.31 | -3.57 | 49.04 | 7.85 | 5.62 | 104.16 | 8.89 | 1.99 | -4.16 | -195.67 | -116.77 | 25.70 | 1.14 | 0.51 |
| 21Q1 (6) | 3.18 | -4.79 | 103.85 | 44.33 | -7.53 | 14.46 | 30.01 | -5.78 | 35.98 | 31.38 | -0.88 | 28.45 | 23.16 | -7.69 | 28.95 | 5.33 | -10.72 | 78.86 | 3.66 | -10.07 | 62.67 | 0.16 | 0.0 | 33.33 | 35.99 | -0.8 | 16.02 | 45.47 | -5.61 | 38.71 | 95.65 | -4.88 | 5.93 | 4.35 | 882.61 | -55.18 | 25.41 | -5.5 | 0.87 |
| 20Q4 (5) | 3.34 | 2.14 | 48.44 | 47.94 | -0.58 | 14.88 | 31.85 | -10.93 | 22.22 | 31.66 | -13.09 | 24.5 | 25.09 | -3.02 | 33.39 | 5.97 | -5.39 | 33.56 | 4.07 | -6.0 | 21.49 | 0.16 | -5.88 | -11.11 | 36.28 | -11.08 | 20.81 | 48.17 | 3.59 | 40.4 | 100.56 | 2.47 | -1.98 | -0.56 | -129.8 | 78.5 | 26.89 | 56.98 | 10.93 |
| 20Q3 (4) | 3.27 | 23.86 | 0.0 | 48.22 | 4.55 | 0.0 | 35.76 | 11.96 | 0.0 | 36.43 | 16.32 | 0.0 | 25.87 | 15.13 | 0.0 | 6.31 | 22.52 | 0.0 | 4.33 | 16.71 | 0.0 | 0.17 | 6.25 | 0.0 | 40.80 | 13.05 | 0.0 | 46.50 | 0.15 | 0.0 | 98.14 | -3.91 | 0.0 | 1.86 | 197.16 | 0.0 | 17.13 | -33.01 | 0.0 |
| 20Q2 (3) | 2.64 | 69.23 | 0.0 | 46.12 | 19.08 | 0.0 | 31.94 | 44.72 | 0.0 | 31.32 | 28.2 | 0.0 | 22.47 | 25.11 | 0.0 | 5.15 | 72.82 | 0.0 | 3.71 | 64.89 | 0.0 | 0.16 | 33.33 | 0.0 | 36.09 | 16.34 | 0.0 | 46.43 | 41.64 | 0.0 | 102.13 | 13.11 | 0.0 | -1.92 | -119.78 | 0.0 | 25.57 | 1.51 | 0.0 |
| 20Q1 (2) | 1.56 | -30.67 | 0.0 | 38.73 | -7.19 | 0.0 | 22.07 | -15.31 | 0.0 | 24.43 | -3.93 | 0.0 | 17.96 | -4.52 | 0.0 | 2.98 | -33.33 | 0.0 | 2.25 | -32.84 | 0.0 | 0.12 | -33.33 | 0.0 | 31.02 | 3.3 | 0.0 | 32.78 | -4.46 | 0.0 | 90.30 | -11.98 | 0.0 | 9.70 | 475.45 | 0.0 | 25.19 | 3.92 | 0.0 |
| 19Q4 (1) | 2.25 | 0.0 | 0.0 | 41.73 | 0.0 | 0.0 | 26.06 | 0.0 | 0.0 | 25.43 | 0.0 | 0.0 | 18.81 | 0.0 | 0.0 | 4.47 | 0.0 | 0.0 | 3.35 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 30.03 | 0.0 | 0.0 | 34.31 | 0.0 | 0.0 | 102.58 | 0.0 | 0.0 | -2.58 | 0.0 | 0.0 | 24.24 | 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) | 10.21 | -4.76 | 38.77 | 9.86 | 22.50 | 19.94 | 5.27 | 6.02 | 24.34 | 1.12 | 18.53 | -0.48 | 14.26 | -11.65 | 9.67 | -8.95 | 0.52 | -7.14 | 30.10 | 2.35 | 44.48 | -17.37 | 92.40 | 18.6 | 7.54 | -65.85 | 0.29 | -4.01 | 28.19 | 1.51 |
| 2022 (9) | 10.72 | -12.92 | 35.29 | -18.29 | 18.76 | -33.78 | 4.97 | 19.12 | 24.07 | -16.39 | 18.62 | -12.21 | 16.14 | -20.26 | 10.62 | -21.33 | 0.56 | -11.11 | 29.41 | -11.52 | 53.83 | 1.39 | 77.91 | -20.85 | 22.09 | 1302.87 | 0.31 | -19.42 | 27.77 | 3.58 |
| 2021 (8) | 12.31 | 13.88 | 43.19 | -5.8 | 28.33 | -8.99 | 4.17 | -11.13 | 28.79 | -8.72 | 21.21 | -9.05 | 20.24 | 2.33 | 13.50 | -3.78 | 0.63 | 5.0 | 33.24 | -8.91 | 53.09 | 10.21 | 98.43 | -0.29 | 1.57 | 22.51 | 0.38 | -5.02 | 26.81 | 13.75 |
| 2020 (7) | 10.81 | 24.11 | 45.85 | 13.91 | 31.13 | 24.92 | 4.70 | 3.03 | 31.54 | 21.17 | 23.32 | 21.58 | 19.78 | 11.5 | 14.03 | 6.53 | 0.60 | -11.76 | 36.49 | 18.4 | 48.17 | 40.4 | 98.71 | 3.14 | 1.29 | -70.06 | 0.40 | -22.43 | 23.57 | -6.32 |
| 2019 (6) | 8.71 | 13.56 | 40.25 | 8.11 | 24.92 | 8.3 | 4.56 | 23.04 | 26.03 | 3.83 | 19.18 | 16.81 | 17.74 | 5.09 | 13.17 | 5.61 | 0.68 | -10.53 | 30.82 | 6.64 | 34.31 | -4.91 | 95.71 | 4.28 | 4.29 | -47.75 | 0.51 | 24.72 | 25.16 | 2.28 |
| 2018 (5) | 7.67 | -9.45 | 37.23 | 5.71 | 23.01 | 8.23 | 3.70 | 14.21 | 25.07 | -1.76 | 16.42 | -11.43 | 16.88 | -16.48 | 12.47 | -13.7 | 0.76 | -2.56 | 28.90 | 0.07 | 36.08 | 1.95 | 91.78 | 10.15 | 8.22 | -50.73 | 0.41 | 0 | 24.60 | 1.15 |
| 2017 (4) | 8.47 | 20.48 | 35.22 | 13.47 | 21.26 | 15.61 | 3.24 | 5.04 | 25.52 | 13.22 | 18.54 | 12.36 | 20.21 | 10.68 | 14.45 | 11.24 | 0.78 | -1.27 | 28.88 | 12.2 | 35.39 | -22.34 | 83.32 | 2.18 | 16.68 | -9.64 | 0.00 | 0 | 24.32 | 32.39 |
| 2016 (3) | 7.03 | 30.19 | 31.04 | 9.26 | 18.39 | 9.99 | 3.09 | 0.63 | 22.54 | 17.58 | 16.50 | 23.23 | 18.26 | 21.25 | 12.99 | 16.71 | 0.79 | -4.82 | 25.74 | 15.01 | 45.57 | 27.58 | 81.54 | -6.55 | 18.46 | 44.86 | 0.00 | 0 | 18.37 | 16.56 |
| 2015 (2) | 5.40 | 10.88 | 28.41 | 4.95 | 16.72 | 6.7 | 3.07 | -4.89 | 19.17 | 4.75 | 13.39 | -4.01 | 15.06 | -2.71 | 11.13 | -3.13 | 0.83 | 1.22 | 22.38 | 3.09 | 35.72 | -1.43 | 87.26 | 1.92 | 12.74 | -11.44 | 0.00 | 0 | 15.76 | -3.79 |
| 2014 (1) | 4.87 | 21.45 | 27.07 | 0 | 15.67 | 0 | 3.23 | -8.76 | 18.30 | 0 | 13.95 | 0 | 15.48 | 0 | 11.49 | 0 | 0.82 | 0.0 | 21.71 | 7.05 | 36.24 | 3.99 | 85.61 | -8.12 | 14.39 | 111.03 | 0.00 | 0 | 16.38 | 7.41 |
