- 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) | 1.59 | -1.85 | -11.67 | 32.64 | -10.89 | -6.77 | 21.38 | -16.09 | -13.79 | 23.62 | -7.01 | -22.79 | 18.78 | -8.66 | -23.41 | 6.33 | -8.26 | -15.82 | 3.95 | 4.22 | -11.63 | 0.21 | 16.67 | 16.67 | 24.05 | -7.18 | -23.02 | 43.55 | -44.29 | -25.4 | 90.39 | -10.0 | 11.59 | 9.61 | 2300.0 | -49.42 | 11.33 | -6.21 | -15.76 |
| 24Q2 (19) | 1.62 | 13.29 | 13.29 | 36.63 | 5.59 | 0.11 | 25.48 | 9.54 | 6.52 | 25.40 | 7.81 | 1.32 | 20.56 | 7.7 | 2.14 | 6.90 | 17.75 | 8.32 | 3.79 | 13.47 | 7.98 | 0.18 | 0.0 | 5.88 | 25.91 | 7.51 | 0.9 | 78.17 | -9.29 | -0.65 | 100.44 | 1.44 | 5.1 | -0.44 | -129.4 | -109.85 | 12.08 | -3.28 | -7.22 |
| 24Q1 (18) | 1.43 | 16.26 | -8.92 | 34.69 | -1.67 | -10.25 | 23.26 | -4.2 | -12.95 | 23.56 | 7.24 | -11.5 | 19.09 | 18.2 | -11.91 | 5.86 | 21.83 | -14.58 | 3.34 | 12.84 | -14.58 | 0.18 | 0.0 | 0.0 | 24.10 | 6.54 | -11.49 | 86.18 | 30.4 | 1.58 | 99.01 | -10.8 | -1.44 | 1.49 | 114.18 | 428.22 | 12.49 | -5.59 | -6.93 |
| 23Q4 (17) | 1.23 | -31.67 | -6.11 | 35.28 | 0.77 | 1.97 | 24.28 | -2.1 | 4.16 | 21.97 | -28.18 | -1.35 | 16.15 | -34.14 | -7.29 | 4.81 | -36.04 | -14.41 | 2.96 | -33.78 | -12.43 | 0.18 | 0.0 | -5.26 | 22.62 | -27.59 | -1.01 | 66.09 | 13.21 | -1.81 | 110.99 | 37.02 | 6.02 | -10.47 | -155.13 | -123.39 | 13.23 | -1.64 | -5.16 |
| 23Q3 (16) | 1.80 | 25.87 | 32.35 | 35.01 | -4.32 | -0.79 | 24.80 | 3.68 | 8.06 | 30.59 | 22.02 | 21.58 | 24.52 | 21.81 | 26.72 | 7.52 | 18.05 | 20.51 | 4.47 | 27.35 | 22.13 | 0.18 | 5.88 | -5.26 | 31.24 | 21.65 | 21.65 | 58.38 | -25.8 | -9.84 | 81.01 | -15.23 | -11.11 | 18.99 | 328.38 | 114.19 | 13.45 | 3.3 | 0.22 |
| 23Q2 (15) | 1.43 | -8.92 | 19.17 | 36.59 | -5.33 | 20.76 | 23.92 | -10.48 | 10.08 | 25.07 | -5.82 | 29.56 | 20.13 | -7.11 | 35.19 | 6.37 | -7.14 | 9.08 | 3.51 | -10.23 | 5.72 | 0.17 | -5.56 | -22.73 | 25.68 | -5.69 | 29.11 | 78.68 | -7.26 | 2.59 | 95.57 | -4.86 | -14.95 | 4.43 | 1079.8 | 135.87 | 13.02 | -2.98 | 16.25 |
| 23Q1 (14) | 1.57 | 19.85 | 20.77 | 38.65 | 11.71 | 40.29 | 26.72 | 14.63 | 34.81 | 26.62 | 19.53 | 25.39 | 21.67 | 24.4 | 24.9 | 6.86 | 22.06 | 8.37 | 3.91 | 15.68 | 2.62 | 0.18 | -5.26 | -18.18 | 27.23 | 19.17 | 25.37 | 84.84 | 26.04 | 12.85 | 100.45 | -4.05 | 7.5 | -0.45 | 90.35 | -106.9 | 13.42 | -3.8 | 13.83 |
| 22Q4 (13) | 1.31 | -3.68 | 35.05 | 34.60 | -1.96 | 20.6 | 23.31 | 1.57 | 31.32 | 22.27 | -11.49 | 37.38 | 17.42 | -9.97 | 27.9 | 5.62 | -9.94 | 20.09 | 3.38 | -7.65 | 14.97 | 0.19 | 0.0 | -13.64 | 22.85 | -11.02 | 35.77 | 67.31 | 3.95 | 17.18 | 104.69 | 14.87 | -4.7 | -4.69 | -152.86 | 52.4 | 13.95 | 3.95 | 12.23 |
| 22Q3 (12) | 1.36 | 13.33 | 183.33 | 35.29 | 16.47 | 43.46 | 22.95 | 5.61 | 71.4 | 25.16 | 30.03 | 130.83 | 19.35 | 29.95 | 146.81 | 6.24 | 6.85 | 155.74 | 3.66 | 10.24 | 155.94 | 0.19 | -13.64 | 5.56 | 25.68 | 29.11 | 123.89 | 64.75 | -15.57 | 6.64 | 91.13 | -18.89 | -26.13 | 8.87 | 171.74 | 137.93 | 13.42 | 19.82 | 2.6 |
| 22Q2 (11) | 1.20 | -7.69 | 57.89 | 30.30 | 9.98 | 20.0 | 21.73 | 9.64 | 47.72 | 19.35 | -8.86 | 20.71 | 14.89 | -14.18 | 11.37 | 5.84 | -7.74 | 47.47 | 3.32 | -12.86 | 49.55 | 0.22 | 0.0 | 29.41 | 19.89 | -8.43 | 18.96 | 76.69 | 2.01 | -5.82 | 112.36 | 20.24 | 21.72 | -12.36 | -288.48 | -242.82 | 11.20 | -5.0 | -25.38 |
| 22Q1 (10) | 1.30 | 34.02 | 64.56 | 27.55 | -3.97 | 2.42 | 19.82 | 11.66 | 28.2 | 21.23 | 30.97 | 47.12 | 17.35 | 27.39 | 47.91 | 6.33 | 35.26 | 59.05 | 3.81 | 29.59 | 57.44 | 0.22 | 0.0 | 4.76 | 21.72 | 29.06 | 44.7 | 75.18 | 30.88 | 0.0 | 93.44 | -14.93 | -12.1 | 6.56 | 166.58 | 190.98 | 11.79 | -5.15 | -6.58 |
| 21Q4 (9) | 0.97 | 102.08 | 53.97 | 28.69 | 16.63 | 9.84 | 17.75 | 32.56 | 10.73 | 16.21 | 48.72 | 13.28 | 13.62 | 73.72 | 31.34 | 4.68 | 91.8 | 50.48 | 2.94 | 105.59 | 45.54 | 0.22 | 22.22 | 15.79 | 16.83 | 46.73 | 12.95 | 57.44 | -5.4 | 4.42 | 109.85 | -10.96 | -1.92 | -9.85 | 57.87 | 17.93 | 12.43 | -4.97 | -7.24 |
| 21Q3 (8) | 0.48 | -36.84 | 26.32 | 24.60 | -2.57 | -10.28 | 13.39 | -8.97 | -8.29 | 10.90 | -32.0 | 10.66 | 7.84 | -41.36 | 14.45 | 2.44 | -38.38 | 27.75 | 1.43 | -35.59 | 18.18 | 0.18 | 5.88 | 0.0 | 11.47 | -31.4 | 8.41 | 60.72 | -25.43 | 15.02 | 123.38 | 33.66 | -16.85 | -23.38 | -370.13 | 51.69 | 13.08 | -12.86 | -3.47 |
| 21Q2 (7) | 0.76 | -3.8 | 13.43 | 25.25 | -6.13 | 8.6 | 14.71 | -4.85 | 13.59 | 16.03 | 11.09 | 12.18 | 13.37 | 13.98 | 14.96 | 3.96 | -0.5 | 14.12 | 2.22 | -8.26 | 3.26 | 0.17 | -19.05 | -5.56 | 16.72 | 11.39 | 11.84 | 81.43 | 8.31 | 29.73 | 92.31 | -13.17 | 1.97 | 8.65 | 220.07 | -8.65 | 15.01 | 18.94 | 11.02 |
| 21Q1 (6) | 0.79 | 25.4 | -21.78 | 26.90 | 2.99 | -8.19 | 15.46 | -3.56 | -12.56 | 14.43 | 0.84 | -36.65 | 11.73 | 13.11 | -38.55 | 3.98 | 27.97 | -22.42 | 2.42 | 19.8 | -28.4 | 0.21 | 10.53 | 16.67 | 15.01 | 0.74 | -36.18 | 75.18 | 36.67 | 23.96 | 106.31 | -5.08 | 36.82 | -7.21 | 39.94 | -132.32 | 12.62 | -5.82 | -15.64 |
| 20Q4 (5) | 0.63 | 65.79 | 43.18 | 26.12 | -4.74 | 2.23 | 16.03 | 9.79 | 13.85 | 14.31 | 45.28 | 27.88 | 10.37 | 51.39 | 28.34 | 3.11 | 62.83 | 43.32 | 2.02 | 66.94 | 32.03 | 0.19 | 5.56 | 0.0 | 14.90 | 40.83 | 25.84 | 55.01 | 4.21 | 26.9 | 112.00 | -24.52 | -10.91 | -12.00 | 75.2 | 53.33 | 13.40 | -1.11 | -9.4 |
| 20Q3 (4) | 0.38 | -43.28 | 0.0 | 27.42 | 17.94 | 0.0 | 14.60 | 12.74 | 0.0 | 9.85 | -31.07 | 0.0 | 6.85 | -41.1 | 0.0 | 1.91 | -44.96 | 0.0 | 1.21 | -43.72 | 0.0 | 0.18 | 0.0 | 0.0 | 10.58 | -29.23 | 0.0 | 52.79 | -15.9 | 0.0 | 148.39 | 63.92 | 0.0 | -48.39 | -610.75 | 0.0 | 13.55 | 0.22 | 0.0 |
| 20Q2 (3) | 0.67 | -33.66 | 0.0 | 23.25 | -20.65 | 0.0 | 12.95 | -26.75 | 0.0 | 14.29 | -37.27 | 0.0 | 11.63 | -39.08 | 0.0 | 3.47 | -32.36 | 0.0 | 2.15 | -36.39 | 0.0 | 0.18 | 0.0 | 0.0 | 14.95 | -36.44 | 0.0 | 62.77 | 3.5 | 0.0 | 90.53 | 16.51 | 0.0 | 9.47 | -57.52 | 0.0 | 13.52 | -9.63 | 0.0 |
| 20Q1 (2) | 1.01 | 129.55 | 0.0 | 29.30 | 14.68 | 0.0 | 17.68 | 25.57 | 0.0 | 22.78 | 103.57 | 0.0 | 19.09 | 136.26 | 0.0 | 5.13 | 136.41 | 0.0 | 3.38 | 120.92 | 0.0 | 0.18 | -5.26 | 0.0 | 23.52 | 98.65 | 0.0 | 60.65 | 39.91 | 0.0 | 77.70 | -38.19 | 0.0 | 22.30 | 186.73 | 0.0 | 14.96 | 1.15 | 0.0 |
| 19Q4 (1) | 0.44 | 0.0 | 0.0 | 25.55 | 0.0 | 0.0 | 14.08 | 0.0 | 0.0 | 11.19 | 0.0 | 0.0 | 8.08 | 0.0 | 0.0 | 2.17 | 0.0 | 0.0 | 1.53 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 11.84 | 0.0 | 0.0 | 43.35 | 0.0 | 0.0 | 125.71 | 0.0 | 0.0 | -25.71 | 0.0 | 0.0 | 14.79 | 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) | 6.03 | 16.41 | 36.36 | 14.16 | 24.93 | 13.68 | 0.45 | 18.62 | 26.04 | 18.85 | 20.58 | 19.79 | 23.95 | 5.23 | 14.37 | 2.72 | 0.70 | -13.58 | 26.65 | 18.71 | 66.09 | -1.81 | 95.76 | -4.36 | 4.24 | 0 | 0.02 | -7.18 | 13.28 | 5.82 |
| 2022 (9) | 5.18 | 72.67 | 31.85 | 20.28 | 21.93 | 42.13 | 0.38 | -14.76 | 21.91 | 51.84 | 17.18 | 47.09 | 22.76 | 58.94 | 13.99 | 52.56 | 0.81 | 3.85 | 22.45 | 49.27 | 67.31 | 17.18 | 100.13 | -6.48 | -0.13 | 0 | 0.02 | -16.97 | 12.55 | -5.0 |
| 2021 (8) | 3.00 | 11.11 | 26.48 | 0.11 | 15.43 | 0.92 | 0.44 | -4.13 | 14.43 | -5.07 | 11.68 | -1.6 | 14.32 | 9.06 | 9.17 | 4.2 | 0.78 | 5.41 | 15.04 | -5.05 | 57.44 | 4.42 | 107.08 | 6.27 | -6.84 | 0 | 0.03 | -5.0 | 13.21 | -4.48 |
| 2020 (7) | 2.70 | 35.0 | 26.45 | 0.46 | 15.29 | 6.92 | 0.46 | -4.58 | 15.20 | 21.7 | 11.87 | 28.88 | 13.13 | 37.2 | 8.80 | 31.54 | 0.74 | 1.37 | 15.84 | 20.27 | 55.01 | 26.9 | 100.76 | -12.01 | -0.51 | 0 | 0.03 | 0 | 13.83 | 5.73 |
| 2019 (6) | 2.00 | -33.33 | 26.33 | -17.46 | 14.30 | -18.89 | 0.48 | 45.1 | 12.49 | -29.99 | 9.21 | -35.55 | 9.57 | -34.72 | 6.69 | -34.48 | 0.73 | 2.82 | 13.17 | -27.95 | 43.35 | 0.28 | 114.52 | 15.87 | -14.52 | 0 | 0.00 | 0 | 13.08 | 10.57 |
| 2018 (5) | 3.00 | 38.89 | 31.90 | 7.41 | 17.63 | 29.35 | 0.33 | -4.96 | 17.84 | 37.44 | 14.29 | 31.95 | 14.66 | 33.03 | 10.21 | 29.08 | 0.71 | -2.74 | 18.28 | 35.41 | 43.23 | -1.68 | 98.83 | -5.94 | 1.17 | 0 | 0.03 | 0 | 11.83 | -6.48 |
| 2017 (4) | 2.16 | -24.21 | 29.70 | -8.36 | 13.63 | -19.3 | 0.35 | -9.94 | 12.98 | -23.38 | 10.83 | -23.25 | 11.02 | -25.54 | 7.91 | -26.96 | 0.73 | -5.19 | 13.50 | -22.37 | 43.97 | 27.34 | 105.07 | 5.34 | -5.07 | 0 | 0.00 | 0 | 12.65 | 1.12 |
| 2016 (3) | 2.85 | 13.55 | 32.41 | 15.42 | 16.89 | 21.6 | 0.39 | -4.8 | 16.94 | 8.24 | 14.11 | 8.21 | 14.80 | 13.24 | 10.83 | 18.49 | 0.77 | 10.0 | 17.39 | 7.81 | 34.53 | -11.05 | 99.74 | 12.13 | 0.26 | -97.75 | 0.00 | 0 | 12.51 | 1.38 |
| 2015 (2) | 2.51 | -23.48 | 28.08 | -6.18 | 13.89 | -17.17 | 0.41 | 20.58 | 15.65 | -15.04 | 13.04 | -17.94 | 13.07 | -25.06 | 9.14 | -25.93 | 0.70 | -10.26 | 16.13 | -14.7 | 38.82 | -17.79 | 88.95 | -2.29 | 11.34 | 26.45 | 0.00 | 0 | 12.34 | -4.34 |
| 2014 (1) | 3.28 | 44.49 | 29.93 | 0 | 16.77 | 0 | 0.34 | -32.27 | 18.42 | 0 | 15.89 | 0 | 17.44 | 0 | 12.34 | 0 | 0.78 | 1.3 | 18.91 | 24.41 | 47.22 | 32.6 | 91.03 | 3.35 | 8.97 | -24.74 | 0.00 | 0 | 12.90 | 11.02 |
