- 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) | 0.81 | -51.5 | -58.03 | 29.10 | -19.5 | -6.82 | 17.87 | -22.54 | -14.82 | 17.54 | -51.72 | -50.88 | 13.82 | -54.97 | -54.4 | 1.82 | -52.97 | -59.73 | 1.55 | -49.84 | -59.32 | 0.11 | 10.0 | -15.38 | 18.91 | -49.95 | -49.19 | 13.96 | -35.82 | 5.28 | 102.04 | 60.65 | 73.75 | -1.81 | -104.97 | -104.4 | 12.85 | -10.2 | 9.45 |
| 24Q2 (19) | 1.67 | -11.17 | 79.57 | 36.15 | 10.18 | 52.72 | 23.07 | 5.54 | 91.61 | 36.33 | 0.72 | 60.97 | 30.69 | 3.93 | 89.68 | 3.87 | -10.42 | 71.24 | 3.09 | -12.96 | 70.72 | 0.10 | -16.67 | -9.09 | 37.78 | 1.18 | 55.79 | 21.75 | -23.9 | -12.79 | 63.52 | 4.91 | 19.12 | 36.48 | -7.29 | -21.84 | 14.31 | 5.69 | 15.12 |
| 24Q1 (18) | 1.88 | 52.85 | 248.15 | 32.81 | -16.37 | 54.84 | 21.86 | -23.3 | 125.13 | 36.07 | 49.3 | 224.95 | 29.53 | 50.97 | 231.43 | 4.32 | 55.96 | 242.86 | 3.55 | 46.09 | 231.78 | 0.12 | 0.0 | 0.0 | 37.34 | 46.26 | 194.25 | 28.58 | 82.27 | 11.55 | 60.55 | -48.69 | -30.84 | 39.35 | 318.62 | 215.9 | 13.54 | 12.27 | -1.38 |
| 23Q4 (17) | 1.23 | -36.27 | 1018.18 | 39.23 | 25.62 | 85.13 | 28.50 | 35.84 | 188.46 | 24.16 | -32.34 | 784.98 | 19.56 | -35.47 | 1005.08 | 2.77 | -38.72 | 1054.17 | 2.43 | -36.22 | 1004.55 | 0.12 | -7.69 | 0.0 | 25.53 | -31.41 | 472.42 | 15.68 | 18.25 | 54.94 | 118.00 | 100.93 | -67.4 | -18.00 | -143.61 | 93.13 | 12.06 | 2.73 | -1.63 |
| 23Q3 (16) | 1.93 | 107.53 | 70.8 | 31.23 | 31.94 | 119.16 | 20.98 | 74.25 | 310.57 | 35.71 | 58.22 | 75.82 | 30.31 | 87.33 | 92.2 | 4.52 | 100.0 | 80.08 | 3.81 | 110.5 | 78.04 | 0.13 | 18.18 | -7.14 | 37.22 | 53.48 | 70.81 | 13.26 | -46.83 | 27.62 | 58.73 | 10.14 | 133.04 | 41.27 | -11.58 | -44.82 | 11.74 | -5.55 | 18.59 |
| 23Q2 (15) | 0.93 | 72.22 | -65.17 | 23.67 | 11.7 | -18.6 | 12.04 | 24.0 | -36.4 | 22.57 | 103.33 | -59.63 | 16.18 | 81.59 | -57.52 | 2.26 | 79.37 | -63.37 | 1.81 | 69.16 | -62.53 | 0.11 | -8.33 | -15.38 | 24.25 | 91.1 | -57.84 | 24.94 | -2.65 | -0.28 | 53.32 | -39.09 | 57.53 | 46.68 | 274.73 | -29.44 | 12.43 | -9.47 | 14.56 |
| 23Q1 (14) | 0.54 | 390.91 | -70.33 | 21.19 | 0.0 | -15.04 | 9.71 | -1.72 | -36.08 | 11.10 | 306.59 | -60.98 | 8.91 | 403.39 | -60.56 | 1.26 | 425.0 | -69.34 | 1.07 | 386.36 | -68.44 | 0.12 | 0.0 | -20.0 | 12.69 | 184.53 | -57.9 | 25.62 | 153.16 | -15.75 | 87.54 | -75.81 | 64.06 | 12.46 | 104.75 | -73.29 | 13.73 | 11.99 | 19.91 |
| 22Q4 (13) | 0.11 | -90.27 | -90.35 | 21.19 | 48.7 | -17.39 | 9.88 | 93.35 | -41.3 | 2.73 | -86.56 | -84.61 | 1.77 | -88.78 | -87.31 | 0.24 | -90.44 | -90.36 | 0.22 | -89.72 | -90.09 | 0.12 | -14.29 | -25.0 | 4.46 | -79.53 | -77.19 | 10.12 | -2.6 | -22.92 | 361.97 | 1336.36 | 281.64 | -261.97 | -450.23 | -5183.89 | 12.26 | 23.84 | 36.07 |
| 22Q3 (12) | 1.13 | -57.68 | -27.1 | 14.25 | -51.0 | -54.7 | 5.11 | -73.01 | -77.57 | 20.31 | -63.67 | -13.76 | 15.77 | -58.6 | -16.52 | 2.51 | -59.32 | -28.29 | 2.14 | -55.69 | -29.14 | 0.14 | 7.69 | -12.5 | 21.79 | -62.12 | -14.01 | 10.39 | -58.46 | -11.72 | 25.20 | -25.55 | -73.95 | 74.80 | 13.07 | 2199.39 | 9.90 | -8.76 | 6.11 |
| 22Q2 (11) | 2.67 | 46.7 | 39.79 | 29.08 | 16.6 | -16.22 | 18.93 | 24.62 | -26.85 | 55.91 | 96.52 | 108.7 | 38.09 | 68.61 | 76.18 | 6.17 | 50.12 | 37.42 | 4.83 | 42.48 | 29.14 | 0.13 | -13.33 | -23.53 | 57.52 | 90.84 | 102.04 | 25.01 | -17.76 | 25.3 | 33.85 | -36.57 | -64.98 | 66.15 | 41.83 | 1820.27 | 10.85 | -5.24 | 15.06 |
| 22Q1 (10) | 1.82 | 59.65 | 40.0 | 24.94 | -2.77 | 2.3 | 15.19 | -9.74 | 2.5 | 28.45 | 60.37 | 50.37 | 22.59 | 61.94 | 41.28 | 4.11 | 65.06 | 34.31 | 3.39 | 52.7 | 27.92 | 0.15 | -6.25 | -11.76 | 30.14 | 54.17 | 45.04 | 30.41 | 131.61 | 52.51 | 53.36 | -43.74 | -31.81 | 46.64 | 805.1 | 115.91 | 11.45 | 27.08 | 4.47 |
| 21Q4 (9) | 1.14 | -26.45 | 83.87 | 25.65 | -18.47 | 38.42 | 16.83 | -26.12 | 94.12 | 17.74 | -24.67 | 51.88 | 13.95 | -26.15 | 56.74 | 2.49 | -28.86 | 74.13 | 2.22 | -26.49 | 70.77 | 0.16 | 0.0 | 6.67 | 19.55 | -22.85 | 41.56 | 13.13 | 11.55 | 18.72 | 94.85 | -1.96 | 27.93 | 5.15 | 58.41 | -80.08 | 9.01 | -3.43 | -12.95 |
| 21Q3 (8) | 1.55 | -18.85 | 222.92 | 31.46 | -9.36 | 71.35 | 22.78 | -11.98 | 178.14 | 23.55 | -12.09 | 161.38 | 18.89 | -12.63 | 155.62 | 3.50 | -22.05 | 212.5 | 3.02 | -19.25 | 211.34 | 0.16 | -5.88 | 23.08 | 25.34 | -10.99 | 123.85 | 11.77 | -41.03 | 23.12 | 96.75 | 0.1 | 6.59 | 3.25 | -5.57 | -64.78 | 9.33 | -1.06 | -13.85 |
| 21Q2 (7) | 1.91 | 46.92 | 208.06 | 34.71 | 42.37 | 46.83 | 25.88 | 74.63 | 107.54 | 26.79 | 41.6 | 104.35 | 21.62 | 35.21 | 103.0 | 4.49 | 46.73 | 205.44 | 3.74 | 41.13 | 211.67 | 0.17 | 0.0 | 54.55 | 28.47 | 37.01 | 80.99 | 19.96 | 0.1 | -3.99 | 96.65 | 23.52 | 1.64 | 3.44 | -84.05 | -29.81 | 9.43 | -13.96 | -25.57 |
| 21Q1 (6) | 1.30 | 109.68 | 20.37 | 24.38 | 31.57 | -4.65 | 14.82 | 70.93 | 14.35 | 18.92 | 61.99 | 5.05 | 15.99 | 79.66 | 10.96 | 3.06 | 113.99 | 22.89 | 2.65 | 103.85 | 23.83 | 0.17 | 13.33 | 13.33 | 20.78 | 50.47 | 3.43 | 19.94 | 80.29 | -15.47 | 78.25 | 5.54 | 8.57 | 21.60 | -16.48 | -22.66 | 10.96 | 5.89 | -10.02 |
| 20Q4 (5) | 0.62 | 29.17 | -32.61 | 18.53 | 0.93 | -24.15 | 8.67 | 5.86 | -39.29 | 11.68 | 29.63 | -10.5 | 8.90 | 20.43 | -26.14 | 1.43 | 27.68 | -30.24 | 1.30 | 34.02 | -30.48 | 0.15 | 15.38 | 0.0 | 13.81 | 22.0 | -8.48 | 11.06 | 15.69 | 19.7 | 74.14 | -18.32 | -32.19 | 25.86 | 179.99 | 377.37 | 10.35 | -4.43 | 6.7 |
| 20Q3 (4) | 0.48 | -22.58 | 0.0 | 18.36 | -22.34 | 0.0 | 8.19 | -34.32 | 0.0 | 9.01 | -31.27 | 0.0 | 7.39 | -30.61 | 0.0 | 1.12 | -23.81 | 0.0 | 0.97 | -19.17 | 0.0 | 0.13 | 18.18 | 0.0 | 11.32 | -28.04 | 0.0 | 9.56 | -54.02 | 0.0 | 90.76 | -4.55 | 0.0 | 9.24 | 88.2 | 0.0 | 10.83 | -14.52 | 0.0 |
| 20Q2 (3) | 0.62 | -42.59 | 0.0 | 23.64 | -7.55 | 0.0 | 12.47 | -3.78 | 0.0 | 13.11 | -27.21 | 0.0 | 10.65 | -26.09 | 0.0 | 1.47 | -40.96 | 0.0 | 1.20 | -43.93 | 0.0 | 0.11 | -26.67 | 0.0 | 15.73 | -21.7 | 0.0 | 20.79 | -11.87 | 0.0 | 95.09 | 31.95 | 0.0 | 4.91 | -82.43 | 0.0 | 12.67 | 4.02 | 0.0 |
| 20Q1 (2) | 1.08 | 17.39 | 0.0 | 25.57 | 4.67 | 0.0 | 12.96 | -9.24 | 0.0 | 18.01 | 38.01 | 0.0 | 14.41 | 19.59 | 0.0 | 2.49 | 21.46 | 0.0 | 2.14 | 14.44 | 0.0 | 0.15 | 0.0 | 0.0 | 20.09 | 33.13 | 0.0 | 23.59 | 155.3 | 0.0 | 72.07 | -34.08 | 0.0 | 27.93 | 399.56 | 0.0 | 12.18 | 25.57 | 0.0 |
| 19Q4 (1) | 0.92 | 0.0 | 0.0 | 24.43 | 0.0 | 0.0 | 14.28 | 0.0 | 0.0 | 13.05 | 0.0 | 0.0 | 12.05 | 0.0 | 0.0 | 2.05 | 0.0 | 0.0 | 1.87 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 15.09 | 0.0 | 0.0 | 9.24 | 0.0 | 0.0 | 109.32 | 0.0 | 0.0 | -9.32 | 0.0 | 0.0 | 9.70 | 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) | 4.63 | -19.06 | 29.01 | 29.16 | 18.00 | 44.81 | 1.51 | -6.42 | 23.54 | -14.99 | 18.91 | -6.62 | 10.23 | -17.9 | 9.07 | -18.8 | 0.48 | -12.73 | 25.09 | -14.4 | 15.68 | 54.94 | 76.49 | 70.33 | 23.51 | -57.35 | 0.00 | 0 | 12.48 | 12.64 |
| 2022 (9) | 5.72 | -3.05 | 22.46 | -23.0 | 12.43 | -38.47 | 1.61 | -9.34 | 27.69 | 26.67 | 20.25 | 14.41 | 12.46 | -5.32 | 11.17 | -4.86 | 0.55 | -16.67 | 29.31 | 23.98 | 10.12 | -22.92 | 44.90 | -51.42 | 55.13 | 627.79 | 0.00 | 0 | 11.08 | 14.46 |
| 2021 (8) | 5.90 | 111.47 | 29.17 | 35.17 | 20.20 | 90.75 | 1.77 | -20.97 | 21.86 | 66.49 | 17.70 | 69.22 | 13.16 | 109.22 | 11.74 | 105.24 | 0.66 | 20.0 | 23.64 | 53.61 | 13.13 | 18.72 | 92.43 | 14.54 | 7.57 | -60.77 | 0.00 | 0 | 9.68 | -15.75 |
| 2020 (7) | 2.79 | -30.42 | 21.58 | -5.68 | 10.59 | -19.77 | 2.25 | 15.65 | 13.13 | -15.18 | 10.46 | -18.35 | 6.29 | -28.36 | 5.72 | -28.86 | 0.55 | -12.7 | 15.39 | -11.75 | 11.06 | 19.7 | 80.69 | -5.31 | 19.31 | 30.59 | 0.00 | 0 | 11.49 | 13.88 |
| 2019 (6) | 4.01 | -16.98 | 22.88 | 14.17 | 13.20 | 8.64 | 1.94 | 62.08 | 15.48 | 2.79 | 12.81 | 8.38 | 8.78 | -14.67 | 8.04 | -13.83 | 0.63 | -20.25 | 17.44 | 7.26 | 9.24 | -2.01 | 85.22 | 5.68 | 14.78 | -23.66 | 0.00 | 0 | 10.09 | 23.2 |
| 2018 (5) | 4.83 | -21.72 | 20.04 | -23.98 | 12.15 | -36.29 | 1.20 | 21.9 | 15.06 | -4.68 | 11.82 | -6.71 | 10.29 | -20.91 | 9.33 | -19.78 | 0.79 | -14.13 | 16.26 | -3.16 | 9.43 | -14.89 | 80.63 | -33.18 | 19.37 | 0 | 0.00 | 0 | 8.19 | 7.34 |
| 2017 (4) | 6.17 | -7.77 | 26.36 | 17.68 | 19.07 | 27.47 | 0.98 | -5.56 | 15.80 | 7.7 | 12.67 | -2.84 | 13.01 | -7.86 | 11.63 | -5.37 | 0.92 | -2.13 | 16.79 | 6.81 | 11.08 | -12.13 | 120.68 | 18.3 | -20.68 | 0 | 0.00 | 0 | 7.63 | -0.26 |
| 2016 (3) | 6.69 | -10.56 | 22.40 | 18.71 | 14.96 | 22.12 | 1.04 | 6.24 | 14.67 | -1.54 | 13.04 | 0.85 | 14.12 | -9.66 | 12.29 | -4.06 | 0.94 | -5.05 | 15.72 | -1.13 | 12.61 | -27.4 | 102.00 | 24.1 | -1.97 | 0 | 0.00 | 0 | 7.65 | 10.23 |
| 2015 (2) | 7.48 | -13.73 | 18.87 | -7.32 | 12.25 | -11.04 | 0.98 | 12.48 | 14.90 | -7.85 | 12.93 | -5.76 | 15.63 | -15.19 | 12.81 | -13.5 | 0.99 | -8.33 | 15.90 | -6.85 | 17.37 | -35.45 | 82.20 | -3.46 | 17.83 | 19.98 | 0.00 | 0 | 6.94 | 2.21 |
| 2014 (1) | 8.67 | 16.69 | 20.36 | 0 | 13.77 | 0 | 0.87 | -4.43 | 16.17 | 0 | 13.72 | 0 | 18.43 | 0 | 14.81 | 0 | 1.08 | 0.0 | 17.07 | 11.93 | 26.91 | 20.56 | 85.14 | -5.06 | 14.86 | 43.53 | 0.00 | 0 | 6.79 | 12.23 |
