- 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) | 1.86 | 66.07 | 53.72 | 9.14 | 39.97 | 26.07 | 6.63 | 47.33 | 38.7 | 8.14 | 49.08 | 37.27 | 6.73 | 75.26 | 37.63 | 4.72 | 61.64 | 39.64 | 1.83 | 67.89 | 47.58 | 0.27 | -3.57 | 8.0 | 8.51 | 46.22 | 35.51 | 150.03 | -10.24 | -9.75 | 81.52 | -0.94 | 1.47 | 18.48 | 4.35 | -3.26 | 6.17 | 12.39 | -18.17 |
| 24Q2 (19) | 1.12 | 10.89 | -64.1 | 6.53 | -10.3 | -53.02 | 4.50 | 1.81 | -61.86 | 5.46 | 8.55 | -55.17 | 3.84 | -5.19 | -58.35 | 2.92 | 11.45 | -65.53 | 1.09 | 10.1 | -65.06 | 0.28 | 16.67 | -17.65 | 5.82 | 7.18 | -53.25 | 167.14 | -0.74 | -7.79 | 82.29 | -6.57 | -15.06 | 17.71 | 48.55 | 467.85 | 5.49 | -27.95 | -3.17 |
| 24Q1 (18) | 1.01 | -61.0 | -29.37 | 7.28 | -35.4 | -15.15 | 4.42 | -50.0 | -27.78 | 5.03 | -47.0 | -21.41 | 4.05 | -47.13 | -20.9 | 2.62 | -61.3 | -32.99 | 0.99 | -61.48 | -31.72 | 0.24 | -27.27 | -14.29 | 5.43 | -44.42 | -18.47 | 168.39 | 4.03 | 3.69 | 88.08 | -5.31 | -7.96 | 11.92 | 70.86 | 176.82 | 7.62 | 26.79 | 0.0 |
| 23Q4 (17) | 2.59 | 114.05 | -38.04 | 11.27 | 55.45 | -11.47 | 8.84 | 84.94 | -18.75 | 9.49 | 60.03 | -15.42 | 7.66 | 56.65 | -15.27 | 6.77 | 100.3 | -45.62 | 2.57 | 107.26 | -41.19 | 0.33 | 32.0 | -31.25 | 9.77 | 55.57 | -14.3 | 161.86 | -2.63 | -10.98 | 93.02 | 15.79 | -3.97 | 6.98 | -63.47 | 122.52 | 6.01 | -20.29 | 23.66 |
| 23Q3 (16) | 1.21 | -61.22 | -47.39 | 7.25 | -47.84 | -26.92 | 4.78 | -59.49 | -39.65 | 5.93 | -51.31 | -31.45 | 4.89 | -46.96 | -30.54 | 3.38 | -60.09 | -55.11 | 1.24 | -60.26 | -52.49 | 0.25 | -26.47 | -32.43 | 6.28 | -49.56 | -28.47 | 166.24 | -8.29 | -13.37 | 80.34 | -17.08 | -12.19 | 19.10 | 512.51 | 124.44 | 7.54 | 32.98 | 26.09 |
| 23Q2 (15) | 3.12 | 118.18 | 124.46 | 13.90 | 62.0 | 29.91 | 11.80 | 92.81 | 47.87 | 12.18 | 90.31 | 61.54 | 9.22 | 80.08 | 75.29 | 8.47 | 116.62 | 103.61 | 3.12 | 115.17 | 110.81 | 0.34 | 21.43 | 21.43 | 12.45 | 86.94 | 61.9 | 181.26 | 11.62 | -2.35 | 96.88 | 1.24 | -8.31 | 3.12 | -27.58 | 155.09 | 5.67 | -25.59 | -26.65 |
| 23Q1 (14) | 1.43 | -65.79 | 4.38 | 8.58 | -32.6 | -20.11 | 6.12 | -43.75 | -20.83 | 6.40 | -42.96 | -21.66 | 5.12 | -43.36 | -22.42 | 3.91 | -68.59 | -3.46 | 1.45 | -66.82 | -3.33 | 0.28 | -41.67 | 21.74 | 6.66 | -41.58 | -20.62 | 162.39 | -10.69 | -7.76 | 95.69 | -1.21 | 0.76 | 4.31 | 37.35 | -22.92 | 7.62 | 56.79 | -8.3 |
| 22Q4 (13) | 4.18 | 81.74 | 137.5 | 12.73 | 28.33 | 19.42 | 10.88 | 37.37 | 44.11 | 11.22 | 29.71 | 56.7 | 9.04 | 28.41 | 56.67 | 12.45 | 65.34 | 128.44 | 4.37 | 67.43 | 116.34 | 0.48 | 29.73 | 37.14 | 11.40 | 29.84 | 55.1 | 181.83 | -5.25 | 10.71 | 96.86 | 5.88 | -7.9 | 3.14 | -63.16 | 155.95 | 4.86 | -18.73 | -19.0 |
| 22Q3 (12) | 2.30 | 65.47 | 58.62 | 9.92 | -7.29 | -4.15 | 7.92 | -0.75 | 8.05 | 8.65 | 14.72 | 1.29 | 7.04 | 33.84 | 7.65 | 7.53 | 81.01 | 67.71 | 2.61 | 76.35 | 54.44 | 0.37 | 32.14 | 42.31 | 8.78 | 14.17 | 0.46 | 191.90 | 3.38 | 6.83 | 91.49 | -13.41 | 6.3 | 8.51 | 250.35 | -41.01 | 5.98 | -22.64 | -19.62 |
| 22Q2 (11) | 1.39 | 1.46 | -47.74 | 10.70 | -0.37 | -32.7 | 7.98 | 3.23 | -37.9 | 7.54 | -7.71 | -44.84 | 5.26 | -20.3 | -52.87 | 4.16 | 2.72 | -50.12 | 1.48 | -1.33 | -53.31 | 0.28 | 21.74 | 0.0 | 7.69 | -8.34 | -44.52 | 185.62 | 5.43 | 22.84 | 105.66 | 11.25 | 12.49 | -5.66 | -201.32 | -193.26 | 7.73 | -6.98 | 8.57 |
| 22Q1 (10) | 1.37 | -22.16 | 24.55 | 10.74 | 0.75 | 42.25 | 7.73 | 2.38 | 53.37 | 8.17 | 14.11 | 50.18 | 6.60 | 14.38 | 49.32 | 4.05 | -25.69 | 9.46 | 1.50 | -25.74 | 18.11 | 0.23 | -34.29 | -20.69 | 8.39 | 14.15 | 49.02 | 176.06 | 7.2 | -0.05 | 94.97 | -9.7 | 2.83 | 5.59 | 199.7 | -26.87 | 8.31 | 38.5 | 15.58 |
| 21Q4 (9) | 1.76 | 21.38 | -2.76 | 10.66 | 3.0 | 31.44 | 7.55 | 3.0 | 24.59 | 7.16 | -16.16 | 18.74 | 5.77 | -11.77 | 17.52 | 5.45 | 21.38 | -14.44 | 2.02 | 19.53 | -1.46 | 0.35 | 34.62 | -16.67 | 7.35 | -15.9 | 18.93 | 164.24 | -8.57 | -20.79 | 105.17 | 22.19 | 4.73 | -5.60 | -138.84 | -1216.81 | 6.00 | -19.35 | 5.45 |
| 21Q3 (8) | 1.45 | -45.49 | 21.85 | 10.35 | -34.91 | 74.83 | 7.33 | -42.96 | 85.1 | 8.54 | -37.53 | 90.2 | 6.54 | -41.4 | 77.72 | 4.49 | -46.16 | 0.9 | 1.69 | -46.69 | 24.26 | 0.26 | -7.14 | -29.73 | 8.74 | -36.94 | 88.36 | 179.63 | 18.87 | -16.98 | 86.07 | -8.37 | -2.54 | 14.43 | 137.72 | 23.44 | 7.44 | 4.49 | 35.77 |
| 21Q2 (7) | 2.66 | 141.82 | 26.67 | 15.90 | 110.6 | 81.92 | 12.85 | 154.96 | 89.53 | 13.67 | 151.29 | 96.13 | 11.16 | 152.49 | 102.54 | 8.34 | 125.41 | 2.21 | 3.17 | 149.61 | 28.86 | 0.28 | -3.45 | -37.78 | 13.86 | 146.18 | 96.87 | 151.11 | -14.21 | -38.23 | 93.93 | 1.7 | -3.32 | 6.07 | -20.55 | 113.19 | 7.12 | -0.97 | 68.72 |
| 21Q1 (6) | 1.10 | -39.23 | 34.15 | 7.55 | -6.91 | 11.85 | 5.04 | -16.83 | 12.25 | 5.44 | -9.78 | 34.32 | 4.42 | -9.98 | 41.67 | 3.70 | -41.92 | 17.09 | 1.27 | -38.05 | 24.51 | 0.29 | -30.95 | -12.12 | 5.63 | -8.9 | 36.98 | 176.14 | -15.06 | -19.82 | 92.36 | -8.03 | -17.24 | 7.64 | 1895.14 | 171.3 | 7.19 | 26.36 | 8.77 |
| 20Q4 (5) | 1.81 | 52.1 | 330.95 | 8.11 | 36.99 | 114.55 | 6.06 | 53.03 | 281.13 | 6.03 | 34.3 | 240.68 | 4.91 | 33.42 | 248.23 | 6.37 | 43.15 | 286.06 | 2.05 | 50.74 | 272.73 | 0.42 | 13.51 | 10.53 | 6.18 | 33.19 | 241.44 | 207.36 | -4.16 | 2.68 | 100.43 | 13.72 | 12.48 | -0.43 | -103.64 | -103.97 | 5.69 | 3.83 | -1.9 |
| 20Q3 (4) | 1.19 | -43.33 | 0.0 | 5.92 | -32.27 | 0.0 | 3.96 | -41.59 | 0.0 | 4.49 | -35.58 | 0.0 | 3.68 | -33.21 | 0.0 | 4.45 | -45.47 | 0.0 | 1.36 | -44.72 | 0.0 | 0.37 | -17.78 | 0.0 | 4.64 | -34.09 | 0.0 | 216.36 | -11.56 | 0.0 | 88.31 | -9.1 | 0.0 | 11.69 | 310.55 | 0.0 | 5.48 | 29.86 | 0.0 |
| 20Q2 (3) | 2.10 | 156.1 | 0.0 | 8.74 | 29.48 | 0.0 | 6.78 | 51.0 | 0.0 | 6.97 | 72.1 | 0.0 | 5.51 | 76.6 | 0.0 | 8.16 | 158.23 | 0.0 | 2.46 | 141.18 | 0.0 | 0.45 | 36.36 | 0.0 | 7.04 | 71.29 | 0.0 | 244.63 | 11.35 | 0.0 | 97.15 | -12.95 | 0.0 | 2.85 | 126.57 | 0.0 | 4.22 | -36.16 | 0.0 |
| 20Q1 (2) | 0.82 | 95.24 | 0.0 | 6.75 | 78.57 | 0.0 | 4.49 | 182.39 | 0.0 | 4.05 | 128.81 | 0.0 | 3.12 | 121.28 | 0.0 | 3.16 | 91.52 | 0.0 | 1.02 | 85.45 | 0.0 | 0.33 | -13.16 | 0.0 | 4.11 | 127.07 | 0.0 | 219.69 | 8.78 | 0.0 | 111.61 | 25.0 | 0.0 | -10.71 | -200.0 | 0.0 | 6.61 | 13.97 | 0.0 |
| 19Q4 (1) | 0.42 | 0.0 | 0.0 | 3.78 | 0.0 | 0.0 | 1.59 | 0.0 | 0.0 | 1.77 | 0.0 | 0.0 | 1.41 | 0.0 | 0.0 | 1.65 | 0.0 | 0.0 | 0.55 | 0.0 | 0.0 | 0.38 | 0.0 | 0.0 | 1.81 | 0.0 | 0.0 | 201.95 | 0.0 | 0.0 | 89.29 | 0.0 | 0.0 | 10.71 | 0.0 | 0.0 | 5.80 | 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) | 8.20 | -8.69 | 10.54 | -6.48 | 8.19 | -9.3 | 0.26 | 116.32 | 8.78 | -5.89 | 6.93 | -6.1 | 22.03 | -19.1 | 8.15 | -18.34 | 1.17 | -13.33 | 9.08 | -4.22 | 161.86 | -10.98 | 93.23 | -3.57 | 6.77 | 104.11 | 0.02 | 0 | 6.61 | 5.59 |
| 2022 (9) | 8.98 | 28.65 | 11.27 | 1.9 | 9.03 | 11.07 | 0.12 | -35.54 | 9.33 | 8.87 | 7.38 | 7.42 | 27.23 | 20.97 | 9.98 | 25.85 | 1.35 | 17.39 | 9.48 | 8.22 | 181.83 | 10.71 | 96.68 | 1.87 | 3.32 | -34.84 | 0.00 | 0 | 6.26 | -8.88 |
| 2021 (8) | 6.98 | 18.1 | 11.06 | 47.66 | 8.13 | 49.17 | 0.19 | 118.64 | 8.57 | 54.69 | 6.87 | 55.08 | 22.51 | 4.41 | 7.93 | 11.69 | 1.15 | -28.13 | 8.76 | 55.32 | 164.24 | -20.79 | 94.91 | -3.61 | 5.09 | 231.83 | 0.00 | 0 | 6.87 | 27.22 |
| 2020 (7) | 5.91 | 55.94 | 7.49 | 19.46 | 5.45 | 32.93 | 0.08 | 873.35 | 5.54 | 27.06 | 4.43 | 26.21 | 21.56 | 41.28 | 7.10 | 33.96 | 1.60 | 6.67 | 5.64 | 28.47 | 207.36 | 2.68 | 98.47 | 4.75 | 1.53 | -74.42 | 0.00 | 0 | 5.40 | -7.69 |
| 2019 (6) | 3.79 | -1.3 | 6.27 | -1.72 | 4.10 | -6.82 | 0.01 | -0.29 | 4.36 | -3.75 | 3.51 | -1.68 | 15.26 | -8.51 | 5.30 | -11.96 | 1.50 | -10.71 | 4.39 | -3.52 | 201.95 | 14.93 | 94.00 | -3.38 | 6.00 | 121.57 | 0.00 | 0 | 5.85 | -2.5 |
| 2018 (5) | 3.84 | 37.63 | 6.38 | -4.2 | 4.40 | 18.28 | 0.01 | -26.77 | 4.53 | 5.59 | 3.57 | 1.13 | 16.68 | 29.0 | 6.02 | 22.61 | 1.68 | 20.86 | 4.55 | 5.81 | 175.72 | -2.55 | 97.29 | 12.31 | 2.71 | -79.75 | 0.00 | 0 | 6.00 | -15.25 |
| 2017 (4) | 2.79 | 44.56 | 6.66 | 26.38 | 3.72 | 41.98 | 0.01 | -0.66 | 4.29 | 42.52 | 3.53 | 43.5 | 12.93 | 35.96 | 4.91 | 24.62 | 1.39 | -13.13 | 4.30 | 42.38 | 180.31 | 23.34 | 86.63 | -0.65 | 13.37 | 4.46 | 0.00 | 0 | 7.08 | 10.45 |
| 2016 (3) | 1.93 | 51.97 | 5.27 | -15.95 | 2.62 | -9.66 | 0.01 | -29.53 | 3.01 | 5.61 | 2.46 | 7.42 | 9.51 | 50.24 | 3.94 | 38.73 | 1.60 | 29.03 | 3.02 | 4.86 | 146.19 | 6.82 | 87.20 | -14.34 | 12.80 | 0 | 0.00 | 0 | 6.41 | -13.03 |
| 2015 (2) | 1.27 | -24.4 | 6.27 | -8.2 | 2.90 | -18.08 | 0.02 | -5.7 | 2.85 | -29.98 | 2.29 | -28.88 | 6.33 | -23.55 | 2.84 | -29.0 | 1.24 | 0.0 | 2.88 | -29.93 | 136.85 | 24.31 | 101.80 | 17.46 | -1.80 | 0 | 0.00 | 0 | 7.37 | 1.38 |
| 2014 (1) | 1.68 | 0.0 | 6.83 | 0 | 3.54 | 0 | 0.02 | 8.11 | 4.07 | 0 | 3.22 | 0 | 8.28 | 0 | 4.00 | 0 | 1.24 | -6.77 | 4.11 | 17.43 | 110.09 | 4.2 | 86.67 | 39.07 | 12.89 | -65.79 | 0.00 | 0 | 7.27 | 16.88 |
