- 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) | 2.03 | 30.13 | 61.11 | 35.90 | -0.39 | 0.76 | 25.12 | -5.21 | 5.41 | 26.07 | 32.67 | 10.7 | 36.72 | -20.16 | 98.17 | 3.49 | 87.63 | -18.27 | 1.90 | 80.95 | -19.83 | 0.09 | 80.0 | -25.0 | 49.62 | -23.17 | -4.72 | 92.12 | -4.31 | 0.81 | 96.35 | -28.56 | -4.78 | 3.65 | 110.47 | 407.92 | 27.33 | -13.92 | 13.31 |
| 24Q2 (19) | 1.56 | 39.29 | 23.81 | 36.04 | 8.52 | 8.95 | 26.50 | 23.72 | 24.35 | 19.65 | -10.4 | -8.22 | 45.99 | 168.48 | 135.73 | 1.86 | -45.77 | -56.13 | 1.05 | -48.28 | -55.51 | 0.05 | -54.55 | -54.55 | 64.58 | 24.12 | 26.45 | 96.27 | 15.2 | -2.02 | 134.87 | 38.17 | 35.57 | -34.87 | -1596.09 | -7723.45 | 31.75 | 23.78 | 25.89 |
| 24Q1 (18) | 1.12 | -12.5 | 15.46 | 33.21 | -0.6 | 1.56 | 21.42 | -6.13 | 1.66 | 21.93 | -12.49 | 7.71 | 17.13 | -9.46 | 8.76 | 3.43 | -16.34 | 6.52 | 2.03 | -13.98 | 8.56 | 0.11 | -8.33 | 10.0 | 52.03 | -3.81 | -0.55 | 83.57 | -1.29 | -6.32 | 97.61 | 7.23 | -5.67 | 2.33 | -74.01 | 167.0 | 25.65 | 7.19 | 2.68 |
| 23Q4 (17) | 1.28 | 1.59 | 4.07 | 33.41 | -6.23 | -2.45 | 22.82 | -4.24 | -0.39 | 25.06 | 6.41 | 11.78 | 18.92 | 2.1 | 9.17 | 4.10 | -3.98 | -3.53 | 2.36 | -0.42 | 3.51 | 0.12 | 0.0 | 0.0 | 54.09 | 3.86 | 7.0 | 84.66 | -7.35 | -16.4 | 91.03 | -10.03 | -10.9 | 8.97 | 856.23 | 513.74 | 23.93 | -0.79 | 2.18 |
| 23Q3 (16) | 1.26 | 0.0 | 3.28 | 35.63 | 7.71 | 3.34 | 23.83 | 11.83 | 0.63 | 23.55 | 10.0 | 7.29 | 18.53 | -5.02 | 9.32 | 4.27 | 0.71 | -3.39 | 2.37 | 0.42 | 6.76 | 0.12 | 9.09 | 0.0 | 52.08 | 1.98 | 5.51 | 91.38 | -6.99 | -19.52 | 101.19 | 1.71 | -6.2 | -1.19 | -359.24 | 84.95 | 24.12 | -4.36 | 3.79 |
| 23Q2 (15) | 1.26 | 29.9 | -23.64 | 33.08 | 1.16 | -11.62 | 21.31 | 1.14 | -21.8 | 21.41 | 5.16 | -18.99 | 19.51 | 23.87 | -6.16 | 4.24 | 31.68 | -27.52 | 2.36 | 26.2 | -18.9 | 0.11 | 10.0 | -15.38 | 51.07 | -2.39 | 0.24 | 98.25 | 10.13 | -16.1 | 99.49 | -3.86 | -3.53 | 0.46 | 113.15 | 114.82 | 25.22 | 0.96 | 11.15 |
| 23Q1 (14) | 0.97 | -21.14 | -34.9 | 32.70 | -4.53 | -8.63 | 21.07 | -8.03 | -17.53 | 20.36 | -9.19 | -23.08 | 15.75 | -9.12 | -23.73 | 3.22 | -24.24 | -37.96 | 1.87 | -17.98 | -29.17 | 0.10 | -16.67 | -16.67 | 52.32 | 3.5 | -1.23 | 89.21 | -11.91 | -12.0 | 103.48 | 1.28 | 7.17 | -3.48 | -60.51 | -200.89 | 24.98 | 6.66 | 7.63 |
| 22Q4 (13) | 1.23 | 0.82 | -8.21 | 34.25 | -0.67 | 4.68 | 22.91 | -3.25 | 2.51 | 22.42 | 2.14 | -4.15 | 17.33 | 2.24 | -1.81 | 4.25 | -3.85 | -14.66 | 2.28 | 2.7 | -7.32 | 0.12 | 0.0 | -7.69 | 50.55 | 2.41 | -0.12 | 101.27 | -10.81 | -5.41 | 102.17 | -5.29 | 6.96 | -2.17 | 72.49 | -148.33 | 23.42 | 0.77 | 6.75 |
| 22Q3 (12) | 1.22 | -26.06 | -1.61 | 34.48 | -7.88 | 4.2 | 23.68 | -13.1 | 4.13 | 21.95 | -16.95 | -0.99 | 16.95 | -18.47 | -0.99 | 4.42 | -24.44 | -10.71 | 2.22 | -23.71 | -3.48 | 0.12 | -7.69 | -7.69 | 49.36 | -3.12 | 1.23 | 113.54 | -3.05 | -1.83 | 107.88 | 4.61 | 5.14 | -7.88 | -155.23 | -202.12 | 23.24 | 2.42 | 4.12 |
| 22Q2 (11) | 1.65 | 10.74 | 132.39 | 37.43 | 4.58 | 39.61 | 27.25 | 6.65 | 95.06 | 26.43 | -0.15 | 78.22 | 20.79 | 0.68 | 82.53 | 5.85 | 12.72 | 103.83 | 2.91 | 10.23 | 110.87 | 0.13 | 8.33 | 18.18 | 50.95 | -3.81 | 12.72 | 117.11 | 15.53 | -14.51 | 103.12 | 6.81 | 9.54 | -3.09 | -189.52 | -153.52 | 22.69 | -2.24 | -14.18 |
| 22Q1 (10) | 1.49 | 11.19 | 58.51 | 35.79 | 9.38 | 23.12 | 25.55 | 14.32 | 42.5 | 26.47 | 13.17 | 34.3 | 20.65 | 17.0 | 37.48 | 5.19 | 4.22 | 36.22 | 2.64 | 7.32 | 37.5 | 0.12 | -7.69 | 0.0 | 52.97 | 4.66 | 7.34 | 101.37 | -5.31 | -8.37 | 96.55 | 1.08 | 6.07 | 3.45 | -23.1 | -61.87 | 23.21 | 5.79 | -9.02 |
| 21Q4 (9) | 1.34 | 8.06 | 135.09 | 32.72 | -1.12 | 43.63 | 22.35 | -1.72 | 119.55 | 23.39 | 5.5 | 142.38 | 17.65 | 3.1 | 76.5 | 4.98 | 0.61 | 104.1 | 2.46 | 6.96 | 95.24 | 0.13 | 0.0 | 18.18 | 50.61 | 3.79 | 22.16 | 107.06 | -7.44 | -1.85 | 95.52 | -6.91 | -9.49 | 4.48 | 271.96 | 181.08 | 21.94 | -1.7 | -16.83 |
| 21Q3 (8) | 1.24 | 74.65 | 56.96 | 33.09 | 23.42 | 22.42 | 22.74 | 62.78 | 46.99 | 22.17 | 49.49 | 30.03 | 17.12 | 50.31 | 30.99 | 4.95 | 72.47 | 37.12 | 2.30 | 66.67 | 30.68 | 0.13 | 18.18 | 0.0 | 48.76 | 7.88 | 2.16 | 115.66 | -15.56 | -2.9 | 102.61 | 8.99 | 13.06 | -2.61 | -145.22 | -128.21 | 22.32 | -15.58 | -8.52 |
| 21Q2 (7) | 0.71 | -24.47 | -20.22 | 26.81 | -7.77 | -12.64 | 13.97 | -22.09 | -30.39 | 14.83 | -24.76 | -21.87 | 11.39 | -24.17 | -19.73 | 2.87 | -24.67 | -30.51 | 1.38 | -28.13 | -32.35 | 0.11 | -8.33 | -15.38 | 45.20 | -8.41 | -4.64 | 136.98 | 23.82 | 12.38 | 94.14 | 3.43 | -10.94 | 5.77 | -36.22 | 199.83 | 26.44 | 3.65 | 13.53 |
| 21Q1 (6) | 0.94 | 64.91 | 28.77 | 29.07 | 27.61 | 0.14 | 17.93 | 76.13 | -1.05 | 19.71 | 104.25 | 18.38 | 15.02 | 50.2 | 17.53 | 3.81 | 56.15 | 12.72 | 1.92 | 52.38 | 9.71 | 0.12 | 9.09 | -7.69 | 49.35 | 19.12 | 4.29 | 110.63 | 1.42 | -1.76 | 91.02 | -13.75 | -16.3 | 9.04 | 263.5 | 202.37 | 25.51 | -3.3 | 0.59 |
| 20Q4 (5) | 0.57 | -27.85 | -31.33 | 22.78 | -15.72 | -25.94 | 10.18 | -34.2 | -47.82 | 9.65 | -43.4 | -47.84 | 10.00 | -23.49 | -29.33 | 2.44 | -32.41 | -38.07 | 1.26 | -28.41 | -37.31 | 0.11 | -15.38 | -15.38 | 41.43 | -13.2 | -9.54 | 109.08 | -8.42 | -1.05 | 105.53 | 16.28 | 0.16 | -5.53 | -159.84 | -1.63 | 26.38 | 8.11 | 10.65 |
| 20Q3 (4) | 0.79 | -11.24 | 0.0 | 27.03 | -11.93 | 0.0 | 15.47 | -22.92 | 0.0 | 17.05 | -10.17 | 0.0 | 13.07 | -7.89 | 0.0 | 3.61 | -12.59 | 0.0 | 1.76 | -13.73 | 0.0 | 0.13 | 0.0 | 0.0 | 47.73 | 0.7 | 0.0 | 119.11 | -2.28 | 0.0 | 90.76 | -14.14 | 0.0 | 9.24 | 259.99 | 0.0 | 24.40 | 4.77 | 0.0 |
| 20Q2 (3) | 0.89 | 21.92 | 0.0 | 30.69 | 5.72 | 0.0 | 20.07 | 10.76 | 0.0 | 18.98 | 13.99 | 0.0 | 14.19 | 11.03 | 0.0 | 4.13 | 22.19 | 0.0 | 2.04 | 16.57 | 0.0 | 0.13 | 0.0 | 0.0 | 47.40 | 0.17 | 0.0 | 121.89 | 8.24 | 0.0 | 105.71 | -2.79 | 0.0 | -5.78 | 34.6 | 0.0 | 23.29 | -8.16 | 0.0 |
| 20Q1 (2) | 0.73 | -12.05 | 0.0 | 29.03 | -5.62 | 0.0 | 18.12 | -7.12 | 0.0 | 16.65 | -10.0 | 0.0 | 12.78 | -9.68 | 0.0 | 3.38 | -14.21 | 0.0 | 1.75 | -12.94 | 0.0 | 0.13 | 0.0 | 0.0 | 47.32 | 3.32 | 0.0 | 112.61 | 2.15 | 0.0 | 108.75 | 3.21 | 0.0 | -8.83 | -62.32 | 0.0 | 25.36 | 6.38 | 0.0 |
| 19Q4 (1) | 0.83 | 0.0 | 0.0 | 30.76 | 0.0 | 0.0 | 19.51 | 0.0 | 0.0 | 18.50 | 0.0 | 0.0 | 14.15 | 0.0 | 0.0 | 3.94 | 0.0 | 0.0 | 2.01 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 45.80 | 0.0 | 0.0 | 110.24 | 0.0 | 0.0 | 105.37 | 0.0 | 0.0 | -5.44 | 0.0 | 0.0 | 23.84 | 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) | 4.78 | -14.49 | 33.74 | -5.06 | 22.30 | -10.51 | 27.57 | 10.49 | 22.66 | -7.05 | 18.22 | -4.0 | 15.63 | -19.6 | 8.86 | -12.54 | 0.45 | -10.0 | 52.41 | 2.85 | 84.66 | -16.4 | 98.40 | -3.74 | 1.60 | 0 | 0.02 | -66.46 | 24.55 | 6.14 |
| 2022 (9) | 5.59 | 32.15 | 35.54 | 15.92 | 24.92 | 27.34 | 24.95 | -8.07 | 24.38 | 20.04 | 18.98 | 22.45 | 19.44 | 19.26 | 10.13 | 22.79 | 0.50 | -1.96 | 50.96 | 4.83 | 101.27 | -5.41 | 102.22 | 6.06 | -2.22 | 0 | 0.05 | -48.81 | 23.13 | -3.06 |
| 2021 (8) | 4.23 | 42.42 | 30.66 | 11.61 | 19.57 | 21.86 | 27.14 | -5.93 | 20.31 | 29.45 | 15.50 | 23.41 | 16.30 | 24.43 | 8.25 | 21.86 | 0.51 | 2.0 | 48.61 | 5.61 | 107.06 | -1.85 | 96.38 | -5.84 | 3.63 | 0 | 0.10 | -26.95 | 23.86 | -3.83 |
| 2020 (7) | 2.97 | 19.28 | 27.47 | 0.0 | 16.06 | 1.39 | 28.85 | 5.7 | 15.69 | 2.35 | 12.56 | 5.46 | 13.10 | 9.26 | 6.77 | 5.12 | 0.50 | 0.0 | 46.03 | 4.16 | 109.08 | -1.05 | 102.35 | -0.93 | -2.35 | 0 | 0.14 | 4.39 | 24.81 | -3.69 |
| 2019 (6) | 2.49 | 69.39 | 27.47 | 6.6 | 15.84 | 21.19 | 27.30 | -15.01 | 15.33 | 33.54 | 11.91 | 38.17 | 11.99 | 65.61 | 6.44 | 45.37 | 0.50 | 6.38 | 44.19 | -1.32 | 110.24 | 19.41 | 103.32 | -9.21 | -3.32 | 0 | 0.13 | -62.95 | 25.76 | -3.45 |
| 2018 (5) | 1.47 | -21.81 | 25.77 | -12.26 | 13.07 | -25.78 | 32.12 | 0.09 | 11.48 | -23.0 | 8.62 | -24.05 | 7.24 | -20.96 | 4.43 | -21.59 | 0.47 | 2.17 | 44.78 | -6.98 | 92.32 | 43.6 | 113.81 | -3.66 | -13.81 | 0 | 0.36 | 0 | 26.68 | 4.42 |
| 2017 (4) | 1.88 | -26.56 | 29.37 | -0.54 | 17.61 | -4.45 | 32.09 | 16.04 | 14.91 | -16.61 | 11.35 | -23.57 | 9.16 | -29.27 | 5.65 | -24.36 | 0.46 | -4.17 | 48.14 | 3.33 | 64.29 | -23.75 | 118.13 | 14.55 | -18.09 | 0 | 0.00 | 0 | 25.55 | -2.81 |
| 2016 (3) | 2.56 | 32.64 | 29.53 | 5.5 | 18.43 | 16.79 | 27.66 | -7.37 | 17.88 | 7.52 | 14.85 | 11.49 | 12.95 | 28.6 | 7.47 | 23.47 | 0.48 | 11.63 | 46.59 | -2.04 | 84.31 | 4.28 | 103.12 | 8.69 | -3.12 | 0 | 0.00 | 0 | 26.29 | -2.52 |
| 2015 (2) | 1.93 | -10.23 | 27.99 | -6.67 | 15.78 | -12.38 | 29.86 | 9.95 | 16.63 | -13.2 | 13.32 | -15.32 | 10.07 | -12.21 | 6.05 | -12.82 | 0.43 | 2.38 | 47.56 | 0.72 | 80.85 | 10.72 | 94.88 | 0.93 | 5.09 | -15.11 | 0.00 | 0 | 26.97 | -2.14 |
| 2014 (1) | 2.15 | 40.52 | 29.99 | 0 | 18.01 | 0 | 27.15 | -14.12 | 19.16 | 0 | 15.73 | 0 | 11.47 | 0 | 6.94 | 0 | 0.42 | 5.0 | 47.22 | -2.7 | 73.02 | 1.25 | 94.00 | -4.6 | 6.00 | 309.11 | 0.00 | 0 | 27.56 | 6.53 |
