- 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) | 15.94 | -1.54 | 36.94 | 48.82 | 0.0 | 2.97 | 18.10 | -7.7 | 11.04 | 21.58 | -5.93 | 13.16 | 19.41 | -4.81 | 15.06 | 6.29 | -7.23 | 28.89 | 3.79 | -3.07 | 28.91 | 0.19 | 0.0 | 11.76 | 25.75 | -4.88 | 8.79 | 59.76 | -19.71 | 5.68 | 83.91 | -1.83 | -1.84 | 16.09 | 10.79 | 10.84 | 19.31 | -2.23 | -2.77 |
| 24Q2 (19) | 16.19 | -18.44 | 60.77 | 48.82 | -6.8 | 2.71 | 19.61 | -18.66 | 30.47 | 22.94 | -14.18 | 22.54 | 20.39 | -14.04 | 24.94 | 6.78 | -19.76 | 49.34 | 3.91 | -20.85 | 55.16 | 0.19 | -9.52 | 26.67 | 27.07 | -11.22 | 17.39 | 74.43 | 2.41 | -7.32 | 85.47 | -5.26 | 6.44 | 14.53 | 48.46 | -26.29 | 19.75 | 1.86 | -5.55 |
| 24Q1 (18) | 19.85 | 22.76 | 86.56 | 52.38 | 8.38 | 9.13 | 24.11 | 26.3 | 60.52 | 26.73 | 22.33 | 33.85 | 23.72 | 19.5 | 34.31 | 8.45 | 26.31 | 95.6 | 4.94 | 20.19 | 78.34 | 0.21 | 0.0 | 31.25 | 30.49 | 18.87 | 24.35 | 72.68 | 4.28 | -9.89 | 90.22 | 3.27 | 19.94 | 9.78 | -22.61 | -60.52 | 19.39 | 7.07 | -9.69 |
| 23Q4 (17) | 16.17 | 38.92 | 38.56 | 48.33 | 1.94 | 0.06 | 19.09 | 17.12 | 14.17 | 21.85 | 14.58 | 12.28 | 19.85 | 17.66 | 16.01 | 6.69 | 37.09 | 57.41 | 4.11 | 39.8 | 37.92 | 0.21 | 23.53 | 23.53 | 25.65 | 8.37 | 9.2 | 69.70 | 23.25 | 86.76 | 87.36 | 2.2 | 1.71 | 12.64 | -12.92 | -10.39 | 18.11 | -8.81 | -5.43 |
| 23Q3 (16) | 11.64 | 15.59 | -40.43 | 47.41 | -0.25 | -3.85 | 16.30 | 8.45 | -29.89 | 19.07 | 1.87 | -23.84 | 16.87 | 3.37 | -22.86 | 4.88 | 7.49 | -35.54 | 2.94 | 16.67 | -35.38 | 0.17 | 13.33 | -19.05 | 23.67 | 2.65 | -15.16 | 56.55 | -29.59 | 14.47 | 85.48 | 6.45 | -7.95 | 14.52 | -26.32 | 103.31 | 19.86 | -5.02 | 10.21 |
| 23Q2 (15) | 10.07 | -5.36 | -55.02 | 47.53 | -0.98 | -3.57 | 15.03 | 0.07 | -40.26 | 18.72 | -6.26 | -28.79 | 16.32 | -7.59 | -28.64 | 4.54 | 5.09 | -45.89 | 2.52 | -9.03 | -49.19 | 0.15 | -6.25 | -31.82 | 23.06 | -5.95 | -19.51 | 80.31 | -0.43 | -6.66 | 80.30 | 6.76 | -16.1 | 19.71 | -20.49 | 359.4 | 20.91 | -2.61 | 20.59 |
| 23Q1 (14) | 10.64 | -8.83 | -49.38 | 48.00 | -0.62 | -4.57 | 15.02 | -10.17 | -41.21 | 19.97 | 2.62 | -24.95 | 17.66 | 3.21 | -24.56 | 4.32 | 1.65 | -42.48 | 2.77 | -7.05 | -43.35 | 0.16 | -5.88 | -23.81 | 24.52 | 4.38 | -15.13 | 80.66 | 116.13 | 45.49 | 75.21 | -12.43 | -21.69 | 24.79 | 75.67 | 526.15 | 21.47 | 12.11 | 18.49 |
| 22Q4 (13) | 11.67 | -40.28 | -38.68 | 48.30 | -2.05 | -2.64 | 16.72 | -28.09 | -27.62 | 19.46 | -22.28 | -26.37 | 17.11 | -21.76 | -26.97 | 4.25 | -43.86 | -41.3 | 2.98 | -34.51 | -37.26 | 0.17 | -19.05 | -15.0 | 23.49 | -15.81 | -18.3 | 37.32 | -24.45 | -28.78 | 85.89 | -7.5 | -1.75 | 14.11 | 97.57 | 12.13 | 19.15 | 6.27 | 9.93 |
| 22Q3 (12) | 19.54 | -12.73 | 9.04 | 49.31 | 0.04 | 5.59 | 23.25 | -7.59 | 4.07 | 25.04 | -4.75 | 1.95 | 21.87 | -4.37 | 1.06 | 7.57 | -9.77 | 4.99 | 4.55 | -8.27 | -0.87 | 0.21 | -4.55 | 0.0 | 27.90 | -2.62 | 4.49 | 49.40 | -42.58 | -5.87 | 92.86 | -2.98 | 2.06 | 7.14 | 66.48 | -20.81 | 18.02 | 3.92 | 7.65 |
| 22Q2 (11) | 22.39 | 6.52 | 28.38 | 49.29 | -2.01 | 6.71 | 25.16 | -1.53 | 9.63 | 26.29 | -1.2 | 4.57 | 22.87 | -2.31 | 4.19 | 8.39 | 11.72 | 21.77 | 4.96 | 1.43 | 9.25 | 0.22 | 4.76 | 4.76 | 28.65 | -0.83 | 5.45 | 86.04 | 55.19 | 37.12 | 95.71 | -0.34 | 4.85 | 4.29 | 8.37 | -50.78 | 17.34 | -4.3 | 7.17 |
| 22Q1 (10) | 21.02 | 10.46 | 29.67 | 50.30 | 1.39 | 12.0 | 25.55 | 10.61 | 36.63 | 26.61 | 0.68 | -1.11 | 23.41 | -0.09 | -1.89 | 7.51 | 3.73 | 14.83 | 4.89 | 2.95 | 6.3 | 0.21 | 5.0 | 10.53 | 28.89 | 0.49 | -1.06 | 55.44 | 5.8 | 31.5 | 96.04 | 9.87 | 38.26 | 3.96 | -68.54 | -87.04 | 18.12 | 4.02 | 0.0 |
| 21Q4 (9) | 19.03 | 6.19 | 103.09 | 49.61 | 6.23 | 11.58 | 23.10 | 3.4 | 44.83 | 26.43 | 7.61 | 50.86 | 23.43 | 8.27 | 51.06 | 7.24 | 0.42 | 73.21 | 4.75 | 3.49 | 62.12 | 0.20 | -4.76 | 5.26 | 28.75 | 7.68 | 42.12 | 52.40 | -0.15 | 23.76 | 87.42 | -3.92 | -3.95 | 12.58 | 39.52 | 39.92 | 17.42 | 4.06 | -6.29 |
| 21Q3 (8) | 17.92 | 2.75 | 112.83 | 46.70 | 1.1 | 5.58 | 22.34 | -2.66 | 48.54 | 24.56 | -2.31 | 54.85 | 21.64 | -1.41 | 57.5 | 7.21 | 4.64 | 79.35 | 4.59 | 1.1 | 66.3 | 0.21 | 0.0 | 5.0 | 26.70 | -1.73 | 42.48 | 52.48 | -16.37 | 19.93 | 90.98 | -0.33 | -4.02 | 9.02 | 3.47 | 73.1 | 16.74 | 3.46 | -6.64 |
| 21Q2 (7) | 17.44 | 7.59 | 280.79 | 46.19 | 2.85 | 6.18 | 22.95 | 22.73 | 109.21 | 25.14 | -6.58 | 99.21 | 21.95 | -8.01 | 103.05 | 6.89 | 5.35 | 207.59 | 4.54 | -1.3 | 189.17 | 0.21 | 10.53 | 50.0 | 27.17 | -6.95 | 63.87 | 62.75 | 48.84 | 27.67 | 91.28 | 31.41 | 4.98 | 8.72 | -71.46 | -33.21 | 16.18 | -10.71 | 0 |
| 21Q1 (6) | 16.21 | 73.0 | 345.33 | 44.91 | 1.01 | 4.18 | 18.70 | 17.24 | 96.22 | 26.91 | 53.6 | 143.31 | 23.86 | 53.84 | 150.1 | 6.54 | 56.46 | 261.33 | 4.60 | 57.0 | 253.85 | 0.19 | 0.0 | 46.15 | 29.20 | 44.34 | 94.67 | 42.16 | -0.43 | -0.54 | 69.47 | -23.67 | -19.42 | 30.53 | 239.53 | 121.44 | 18.12 | -2.53 | 0 |
| 20Q4 (5) | 9.37 | 11.28 | 132.51 | 44.46 | 0.52 | 4.64 | 15.95 | 6.05 | 65.8 | 17.52 | 10.47 | 60.73 | 15.51 | 12.88 | 57.3 | 4.18 | 3.98 | 104.9 | 2.93 | 6.16 | 100.68 | 0.19 | -5.0 | 35.71 | 20.23 | 7.95 | 36.5 | 42.34 | -3.24 | -7.76 | 91.01 | -3.98 | 3.13 | 8.99 | 72.61 | -23.47 | 18.59 | 3.68 | 0 |
| 20Q3 (4) | 8.42 | 83.84 | 0.0 | 44.23 | 1.68 | 0.0 | 15.04 | 37.1 | 0.0 | 15.86 | 25.67 | 0.0 | 13.74 | 27.1 | 0.0 | 4.02 | 79.46 | 0.0 | 2.76 | 75.8 | 0.0 | 0.20 | 42.86 | 0.0 | 18.74 | 13.03 | 0.0 | 43.76 | -10.97 | 0.0 | 94.79 | 9.02 | 0.0 | 5.21 | -60.08 | 0.0 | 17.93 | 0 | 0.0 |
| 20Q2 (3) | 4.58 | 25.82 | 0.0 | 43.50 | 0.9 | 0.0 | 10.97 | 15.11 | 0.0 | 12.62 | 14.1 | 0.0 | 10.81 | 13.31 | 0.0 | 2.24 | 23.76 | 0.0 | 1.57 | 20.77 | 0.0 | 0.14 | 7.69 | 0.0 | 16.58 | 10.53 | 0.0 | 49.15 | 15.95 | 0.0 | 86.95 | 0.86 | 0.0 | 13.05 | -5.36 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 3.64 | -9.68 | 0.0 | 43.11 | 1.46 | 0.0 | 9.53 | -0.94 | 0.0 | 11.06 | 1.47 | 0.0 | 9.54 | -3.25 | 0.0 | 1.81 | -11.27 | 0.0 | 1.30 | -10.96 | 0.0 | 0.13 | -7.14 | 0.0 | 15.00 | 1.21 | 0.0 | 42.39 | -7.65 | 0.0 | 86.21 | -2.31 | 0.0 | 13.79 | 17.35 | 0.0 | 0.00 | 0 | 0.0 |
| 19Q4 (1) | 4.03 | 0.0 | 0.0 | 42.49 | 0.0 | 0.0 | 9.62 | 0.0 | 0.0 | 10.90 | 0.0 | 0.0 | 9.86 | 0.0 | 0.0 | 2.04 | 0.0 | 0.0 | 1.46 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 14.82 | 0.0 | 0.0 | 45.90 | 0.0 | 0.0 | 88.25 | 0.0 | 0.0 | 11.75 | 0.0 | 0.0 | 0.00 | 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) | 48.51 | -34.96 | 47.84 | -3.08 | 16.56 | -28.31 | 2.54 | 50.06 | 20.02 | -18.95 | 17.81 | -17.62 | 18.89 | -30.19 | 12.47 | -33.46 | 0.70 | -18.6 | 24.31 | -11.6 | 69.70 | 86.76 | 82.74 | -11.54 | 17.27 | 166.78 | 12.79 | 5.97 | 19.93 | 10.23 |
| 2022 (9) | 74.59 | 5.71 | 49.36 | 5.16 | 23.10 | 5.48 | 1.69 | 50.56 | 24.70 | -3.93 | 21.62 | -4.63 | 27.06 | -2.2 | 18.74 | -0.05 | 0.86 | 3.61 | 27.50 | -1.43 | 37.32 | -28.78 | 93.53 | 9.81 | 6.47 | -56.36 | 12.07 | 8.52 | 18.08 | 5.85 |
| 2021 (8) | 70.56 | 171.28 | 46.94 | 6.83 | 21.90 | 63.19 | 1.12 | -20.78 | 25.71 | 74.07 | 22.67 | 76.28 | 27.67 | 130.2 | 18.75 | 121.89 | 0.83 | 27.69 | 27.90 | 54.74 | 52.40 | 23.76 | 85.17 | -6.23 | 14.83 | 61.74 | 11.13 | -22.12 | 17.08 | -9.34 |
| 2020 (7) | 26.01 | 77.06 | 43.94 | 4.99 | 13.42 | 46.35 | 1.42 | -18.0 | 14.77 | 34.52 | 12.86 | 36.52 | 12.02 | 52.54 | 8.45 | 48.51 | 0.65 | 14.04 | 18.03 | 19.88 | 42.34 | -7.76 | 90.83 | 8.78 | 9.17 | -44.44 | 14.29 | -7.6 | 18.84 | -6.32 |
| 2019 (6) | 14.69 | 10.78 | 41.85 | 8.62 | 9.17 | 34.85 | 1.73 | 11.11 | 10.98 | 10.35 | 9.42 | 7.9 | 7.88 | 1.55 | 5.69 | 2.52 | 0.57 | -5.0 | 15.04 | 8.51 | 45.90 | -2.03 | 83.50 | 22.24 | 16.50 | -47.94 | 15.46 | -15.6 | 20.11 | 6.07 |
| 2018 (5) | 13.26 | -14.78 | 38.53 | 8.14 | 6.80 | 65.05 | 1.56 | 4.2 | 9.95 | -12.95 | 8.73 | -13.56 | 7.76 | -18.14 | 5.55 | -14.48 | 0.60 | -3.23 | 13.86 | -6.73 | 46.85 | -8.66 | 68.30 | 89.47 | 31.70 | -50.44 | 18.32 | -4.88 | 18.96 | 1.61 |
| 2017 (4) | 15.56 | 2.64 | 35.63 | -0.03 | 4.12 | -50.84 | 1.49 | 34.43 | 11.43 | 15.69 | 10.10 | 15.83 | 9.48 | -2.57 | 6.49 | -4.42 | 0.62 | -18.42 | 14.86 | 18.12 | 51.29 | 1.99 | 36.05 | -57.49 | 63.95 | 320.66 | 19.26 | 0 | 18.66 | 18.78 |
| 2016 (3) | 15.16 | -8.67 | 35.64 | -17.56 | 8.38 | -31.03 | 1.11 | 14.07 | 9.88 | -28.25 | 8.72 | -27.81 | 9.73 | -6.62 | 6.79 | -9.1 | 0.76 | 24.59 | 12.58 | -23.43 | 50.29 | 19.28 | 84.80 | -3.88 | 15.20 | 29.0 | 0.00 | 0 | 15.71 | -14.85 |
| 2015 (2) | 16.60 | -44.74 | 43.23 | -11.32 | 12.15 | -45.2 | 0.97 | 58.04 | 13.77 | -43.96 | 12.08 | -44.54 | 10.42 | -50.26 | 7.47 | -51.34 | 0.61 | -12.86 | 16.43 | -37.03 | 42.16 | 0.84 | 88.22 | -2.24 | 11.78 | 20.76 | 0.00 | 0 | 18.45 | 18.27 |
| 2014 (1) | 30.04 | 46.47 | 48.75 | 0 | 22.17 | 0 | 0.62 | -29.07 | 24.57 | 0 | 21.78 | 0 | 20.95 | 0 | 15.35 | 0 | 0.70 | 20.69 | 26.09 | 12.99 | 41.81 | 29.08 | 90.24 | 5.62 | 9.76 | -32.99 | 0.00 | 0 | 15.60 | 10.48 |
