- 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) | 1.66 | 19.42 | -13.54 | 25.80 | -1.23 | -12.6 | 17.12 | 18.07 | -9.51 | 17.19 | -13.14 | -26.1 | 13.27 | -16.28 | -25.28 | 5.23 | 18.86 | -20.27 | 3.39 | 13.38 | -22.6 | 0.26 | 36.84 | 4.0 | 18.04 | -13.97 | -25.88 | 53.82 | -2.75 | 2.87 | 99.42 | 35.48 | 22.45 | 0.58 | -97.82 | -96.91 | 16.18 | -20.41 | -3.92 |
| 24Q2 (19) | 1.39 | 87.84 | 24.11 | 26.12 | 5.32 | -5.26 | 14.50 | 68.8 | -9.88 | 19.79 | 16.21 | 6.51 | 15.85 | 14.86 | 15.69 | 4.40 | 88.03 | 13.99 | 2.99 | 79.04 | 8.33 | 0.19 | 58.33 | -5.0 | 20.97 | 10.54 | 5.01 | 55.34 | 39.29 | 16.85 | 73.38 | 44.78 | -15.44 | 26.62 | -46.02 | 101.3 | 20.33 | -17.86 | 7.74 |
| 24Q1 (18) | 0.74 | -15.91 | 57.45 | 24.80 | 4.38 | 6.99 | 8.59 | -31.11 | 34.85 | 17.03 | 28.82 | 8.47 | 13.80 | 25.34 | 12.1 | 2.34 | -17.89 | 45.34 | 1.67 | -14.8 | 42.74 | 0.12 | -33.33 | 20.0 | 18.97 | 29.93 | 2.49 | 39.73 | -0.45 | 19.67 | 50.68 | -46.11 | 21.64 | 49.32 | 728.49 | -18.38 | 24.75 | 20.91 | -11.16 |
| 23Q4 (17) | 0.88 | -54.17 | 15.79 | 23.76 | -19.51 | 3.13 | 12.47 | -34.09 | 15.57 | 13.22 | -43.16 | 17.41 | 11.01 | -38.01 | 25.4 | 2.85 | -56.55 | 7.95 | 1.96 | -55.25 | 14.62 | 0.18 | -28.0 | -5.26 | 14.60 | -40.02 | 15.32 | 39.91 | -23.72 | -3.97 | 94.05 | 15.84 | -2.19 | 5.95 | -68.36 | 54.76 | 20.47 | 21.56 | 21.05 |
| 23Q3 (16) | 1.92 | 71.43 | 7.26 | 29.52 | 7.07 | 22.54 | 18.92 | 17.59 | 27.07 | 23.26 | 25.19 | 23.86 | 17.76 | 29.64 | 26.68 | 6.56 | 69.95 | 1.08 | 4.38 | 58.7 | 13.18 | 0.25 | 25.0 | -7.41 | 24.34 | 21.88 | 22.93 | 52.32 | 10.47 | -25.68 | 81.19 | -6.44 | 2.55 | 18.81 | 42.26 | -9.7 | 16.84 | -10.76 | -1.17 |
| 23Q2 (15) | 1.12 | 138.3 | 23.08 | 27.57 | 18.94 | 56.29 | 16.09 | 152.59 | 69.73 | 18.58 | 18.34 | 65.16 | 13.70 | 11.29 | 66.06 | 3.86 | 139.75 | 13.53 | 2.76 | 135.9 | 35.29 | 0.20 | 100.0 | -16.67 | 19.97 | 7.89 | 61.57 | 47.36 | 42.65 | -29.68 | 86.78 | 108.26 | 2.27 | 13.22 | -78.11 | -18.18 | 18.87 | -32.27 | 17.2 |
| 23Q1 (14) | 0.47 | -38.16 | 17.5 | 23.18 | 0.61 | 53.21 | 6.37 | -40.96 | 1576.32 | 15.70 | 39.43 | 54.53 | 12.31 | 40.21 | 96.02 | 1.61 | -39.02 | 11.81 | 1.17 | -31.58 | 42.68 | 0.10 | -47.37 | -23.08 | 18.51 | 46.21 | 50.49 | 33.20 | -20.12 | -53.13 | 41.67 | -56.67 | 941.67 | 60.42 | 1470.83 | -37.07 | 27.86 | 64.75 | 13.81 |
| 22Q4 (13) | 0.76 | -57.54 | 35.71 | 23.04 | -4.36 | 24.95 | 10.79 | -27.54 | 19.09 | 11.26 | -40.04 | 8.17 | 8.78 | -37.38 | 41.61 | 2.64 | -59.32 | 22.22 | 1.71 | -55.81 | 46.15 | 0.19 | -29.63 | 5.56 | 12.66 | -36.06 | 7.2 | 41.56 | -40.97 | -56.45 | 96.15 | 21.46 | 10.95 | 3.85 | -81.54 | -71.15 | 16.91 | -0.76 | -2.14 |
| 22Q3 (12) | 1.79 | 96.7 | 426.47 | 24.09 | 36.56 | 51.32 | 14.89 | 57.07 | 210.21 | 18.78 | 66.93 | 194.36 | 14.02 | 69.94 | 205.45 | 6.49 | 90.88 | 387.97 | 3.87 | 89.71 | 396.15 | 0.27 | 12.5 | 68.75 | 19.80 | 60.19 | 144.44 | 70.40 | 4.53 | -16.6 | 79.17 | -6.7 | 6.47 | 20.83 | 28.91 | -18.75 | 17.04 | 5.84 | -12.44 |
| 22Q2 (11) | 0.91 | 127.5 | 65.45 | 17.64 | 16.59 | 9.84 | 9.48 | 2394.74 | 54.15 | 11.25 | 10.73 | 66.91 | 8.25 | 31.37 | 25.57 | 3.40 | 136.11 | 67.49 | 2.04 | 148.78 | 60.63 | 0.24 | 84.62 | 26.32 | 12.36 | 0.49 | 50.0 | 67.35 | -4.91 | -0.24 | 84.85 | 2021.21 | -6.67 | 16.16 | -83.16 | 77.78 | 16.10 | -34.23 | -7.42 |
| 22Q1 (10) | 0.40 | -28.57 | 17.65 | 15.13 | -17.95 | -9.02 | 0.38 | -95.81 | -91.65 | 10.16 | -2.4 | 24.21 | 6.28 | 1.29 | 19.17 | 1.44 | -33.33 | 13.39 | 0.82 | -29.91 | 0.0 | 0.13 | -27.78 | -13.33 | 12.30 | 4.15 | 21.78 | 70.83 | -25.79 | 24.85 | 4.00 | -95.38 | -92.87 | 96.00 | 620.0 | 118.67 | 24.48 | 41.67 | 24.39 |
| 21Q4 (9) | 0.56 | 64.71 | -9.68 | 18.44 | 15.83 | -1.86 | 9.06 | 88.75 | 0.78 | 10.41 | 63.17 | 6.99 | 6.20 | 35.08 | -13.53 | 2.16 | 62.41 | -10.37 | 1.17 | 50.0 | -21.48 | 0.18 | 12.5 | -14.29 | 11.81 | 45.8 | 5.82 | 95.44 | 13.07 | 57.62 | 86.67 | 16.55 | -6.34 | 13.33 | -48.0 | 78.67 | 17.28 | -11.2 | -4.64 |
| 21Q3 (8) | 0.34 | -38.18 | -62.22 | 15.92 | -0.87 | -33.31 | 4.80 | -21.95 | -59.83 | 6.38 | -5.34 | -57.83 | 4.59 | -30.14 | -59.38 | 1.33 | -34.48 | -63.16 | 0.78 | -38.58 | -64.38 | 0.16 | -15.79 | -15.79 | 8.10 | -1.7 | -51.32 | 84.41 | 25.03 | 30.44 | 74.36 | -18.21 | -6.07 | 25.64 | 182.05 | 23.08 | 19.46 | 11.9 | 4.12 |
| 21Q2 (7) | 0.55 | 61.76 | -47.62 | 16.06 | -3.43 | -39.6 | 6.15 | 35.16 | -47.48 | 6.74 | -17.6 | -69.35 | 6.57 | 24.67 | -67.73 | 2.03 | 59.84 | -51.78 | 1.27 | 54.88 | -52.96 | 0.19 | 26.67 | 46.15 | 8.24 | -18.42 | -66.06 | 67.51 | 19.0 | 0.9 | 90.91 | 62.06 | 68.83 | 9.09 | -79.29 | -80.76 | 17.39 | -11.64 | -12.79 |
| 21Q1 (6) | 0.34 | -45.16 | 217.24 | 16.63 | -11.5 | -20.81 | 4.55 | -49.39 | 189.57 | 8.18 | -15.93 | 176.88 | 5.27 | -26.5 | 143.27 | 1.27 | -47.3 | 211.4 | 0.82 | -44.97 | 209.33 | 0.15 | -28.57 | 150.0 | 10.10 | -9.5 | 279.08 | 56.73 | -6.31 | 17.31 | 56.10 | -39.38 | 17.8 | 43.90 | 488.29 | -16.19 | 19.68 | 8.61 | -43.46 |
| 20Q4 (5) | 0.62 | -31.11 | -16.22 | 18.79 | -21.28 | -20.35 | 8.99 | -24.77 | -15.35 | 9.73 | -35.69 | -24.46 | 7.17 | -36.55 | -32.93 | 2.41 | -33.24 | -16.9 | 1.49 | -31.96 | -21.99 | 0.21 | 10.53 | 16.67 | 11.16 | -32.93 | -23.35 | 60.55 | -6.43 | 29.77 | 92.54 | 16.89 | 12.59 | 7.46 | -64.18 | -58.09 | 18.12 | -3.05 | -1.31 |
| 20Q3 (4) | 0.90 | -14.29 | 0.0 | 23.87 | -10.23 | 0.0 | 11.95 | 2.05 | 0.0 | 15.13 | -31.2 | 0.0 | 11.30 | -44.5 | 0.0 | 3.61 | -14.25 | 0.0 | 2.19 | -18.89 | 0.0 | 0.19 | 46.15 | 0.0 | 16.64 | -31.47 | 0.0 | 64.71 | -3.29 | 0.0 | 79.17 | 47.02 | 0.0 | 20.83 | -55.91 | 0.0 | 18.69 | -6.27 | 0.0 |
| 20Q2 (3) | 1.05 | 462.07 | 0.0 | 26.59 | 26.62 | 0.0 | 11.71 | 330.51 | 0.0 | 21.99 | 306.67 | 0.0 | 20.36 | 267.16 | 0.0 | 4.21 | 469.3 | 0.0 | 2.70 | 460.0 | 0.0 | 0.13 | 116.67 | 0.0 | 24.28 | 530.5 | 0.0 | 66.91 | 38.36 | 0.0 | 53.85 | 13.08 | 0.0 | 47.25 | -9.79 | 0.0 | 19.94 | -42.72 | 0.0 |
| 20Q1 (2) | -0.29 | -139.19 | 0.0 | 21.00 | -10.98 | 0.0 | -5.08 | -147.83 | 0.0 | -10.64 | -182.61 | 0.0 | -12.18 | -213.94 | 0.0 | -1.14 | -139.31 | 0.0 | -0.75 | -139.27 | 0.0 | 0.06 | -66.67 | 0.0 | -5.64 | -138.74 | 0.0 | 48.36 | 3.64 | 0.0 | 47.62 | -42.06 | 0.0 | 52.38 | 194.14 | 0.0 | 34.81 | 89.6 | 0.0 |
| 19Q4 (1) | 0.74 | 0.0 | 0.0 | 23.59 | 0.0 | 0.0 | 10.62 | 0.0 | 0.0 | 12.88 | 0.0 | 0.0 | 10.69 | 0.0 | 0.0 | 2.90 | 0.0 | 0.0 | 1.91 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 14.56 | 0.0 | 0.0 | 46.66 | 0.0 | 0.0 | 82.19 | 0.0 | 0.0 | 17.81 | 0.0 | 0.0 | 18.36 | 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) | 4.39 | 13.73 | 26.73 | 29.82 | 14.94 | 47.63 | 1.42 | 25.3 | 18.48 | 36.18 | 14.26 | 43.17 | 14.62 | 5.26 | 10.40 | 23.52 | 0.73 | -12.05 | 19.94 | 34.01 | 39.91 | -3.97 | 80.88 | 8.62 | 19.12 | -24.42 | 0.03 | 0 | 19.69 | 9.88 |
| 2022 (9) | 3.86 | 115.64 | 20.59 | 22.34 | 10.12 | 59.62 | 1.13 | -21.65 | 13.57 | 69.41 | 9.96 | 74.43 | 13.89 | 104.26 | 8.42 | 115.35 | 0.83 | 23.88 | 14.88 | 54.84 | 41.56 | -56.45 | 74.46 | -6.21 | 25.30 | 22.79 | 0.00 | 0 | 17.92 | -2.18 |
| 2021 (8) | 1.79 | -21.15 | 16.83 | -24.73 | 6.34 | -30.56 | 1.45 | -19.82 | 8.01 | -33.75 | 5.71 | -39.32 | 6.80 | -22.11 | 3.91 | -32.12 | 0.67 | 11.67 | 9.61 | -32.04 | 95.44 | 57.62 | 79.40 | 4.97 | 20.60 | -15.42 | 0.00 | 0 | 18.32 | -10.11 |
| 2020 (7) | 2.27 | -35.14 | 22.36 | -5.53 | 9.13 | -17.08 | 1.81 | 27.32 | 12.09 | -16.04 | 9.41 | -15.53 | 8.73 | -36.09 | 5.76 | -38.06 | 0.60 | -27.71 | 14.14 | -11.4 | 60.55 | 29.77 | 75.64 | -0.77 | 24.36 | 3.67 | 0.03 | -54.06 | 20.38 | 11.98 |
| 2019 (6) | 3.50 | -4.11 | 23.67 | 1.41 | 11.01 | -1.52 | 1.42 | 9.8 | 14.40 | -6.37 | 11.14 | -0.45 | 13.66 | -8.63 | 9.30 | 3.45 | 0.83 | 6.41 | 15.96 | -6.45 | 46.66 | -2.83 | 76.23 | 5.01 | 23.50 | -14.27 | 0.07 | -34.42 | 18.20 | -3.4 |
| 2018 (5) | 3.65 | 54.01 | 23.34 | -8.29 | 11.18 | -9.84 | 1.29 | -13.61 | 15.38 | 31.57 | 11.19 | 23.78 | 14.95 | 51.93 | 8.99 | 56.89 | 0.78 | 25.81 | 17.06 | 25.9 | 48.02 | -49.16 | 72.59 | -31.52 | 27.41 | 0 | 0.10 | 0 | 18.84 | 3.69 |
| 2017 (4) | 2.37 | -57.98 | 25.45 | -6.95 | 12.40 | -23.83 | 1.50 | 56.33 | 11.69 | -33.16 | 9.04 | -35.38 | 9.84 | -58.23 | 5.73 | -62.6 | 0.62 | -43.12 | 13.55 | -27.19 | 94.45 | 59.62 | 106.00 | 13.83 | -6.00 | 0 | 0.00 | 0 | 18.17 | 16.1 |
| 2016 (3) | 5.64 | 89.26 | 27.35 | 17.53 | 16.28 | 51.02 | 0.96 | -28.17 | 17.49 | 39.14 | 13.99 | 40.46 | 23.56 | 72.85 | 15.32 | 71.56 | 1.09 | 22.47 | 18.61 | 33.12 | 59.17 | 18.06 | 93.12 | 8.58 | 6.88 | -51.69 | 0.00 | 0 | 15.65 | -15.36 |
| 2015 (2) | 2.98 | 31.86 | 23.27 | 5.72 | 10.78 | 25.64 | 1.33 | -31.13 | 12.57 | 8.64 | 9.96 | 10.3 | 13.63 | 25.28 | 8.93 | 26.13 | 0.89 | 15.58 | 13.98 | 1.82 | 50.12 | -10.9 | 85.76 | 15.51 | 14.24 | -44.71 | 0.00 | 0 | 18.49 | 9.28 |
| 2014 (1) | 2.26 | -34.11 | 22.01 | 0 | 8.58 | 0 | 1.93 | 17.65 | 11.57 | 0 | 9.03 | 0 | 10.88 | 0 | 7.08 | 0 | 0.77 | -23.0 | 13.73 | -12.66 | 56.25 | 1.35 | 74.25 | -14.41 | 25.75 | 94.3 | 0.00 | 0 | 16.92 | 6.62 |
