- 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) | 2.47 | 23.5 | 47.02 | 50.39 | 10.65 | 10.65 | 24.14 | 22.66 | 36.85 | 24.14 | 19.39 | 36.77 | 19.36 | 23.23 | 39.68 | 7.48 | 16.15 | 41.4 | 4.14 | 26.99 | 37.09 | 0.21 | 5.0 | 0.0 | 31.25 | 13.43 | 24.8 | 72.06 | -23.8 | -1.65 | 100.00 | 2.74 | 0.0 | 0.00 | -100.0 | 0 | 30.18 | -1.4 | -24.15 |
| 24Q2 (19) | 2.00 | 3.09 | 24.22 | 45.54 | -4.39 | -1.45 | 19.68 | 2.45 | 12.14 | 20.22 | 3.11 | 17.08 | 15.71 | 1.03 | 19.65 | 6.44 | 6.62 | 21.97 | 3.26 | -0.31 | 15.19 | 0.20 | -4.76 | -4.76 | 27.55 | 2.07 | 14.94 | 94.57 | -11.35 | 7.42 | 97.33 | -0.58 | -4.25 | 2.67 | 27.11 | 261.33 | 30.61 | 0.99 | -8.38 |
| 24Q1 (18) | 1.94 | 1.57 | 3.19 | 47.63 | -1.55 | 1.0 | 19.21 | -13.78 | -4.81 | 19.61 | 6.69 | -5.22 | 15.55 | 13.17 | -2.63 | 6.04 | 7.86 | 0.0 | 3.27 | 0.31 | -4.11 | 0.21 | -12.5 | 0.0 | 26.99 | 8.52 | -3.47 | 106.68 | 50.3 | 16.58 | 97.90 | -18.79 | 0.05 | 2.10 | 109.88 | -2.1 | 30.31 | 77.88 | 3.24 |
| 23Q4 (17) | 1.91 | 13.69 | 39.42 | 48.38 | 6.24 | -5.42 | 22.28 | 26.3 | -0.76 | 18.38 | 4.14 | 21.64 | 13.74 | -0.87 | 40.35 | 5.60 | 5.86 | 52.59 | 3.26 | 7.95 | 45.54 | 0.24 | 14.29 | 9.09 | 24.87 | -0.68 | 12.08 | 70.98 | -3.13 | 3.38 | 120.55 | 20.55 | -18.86 | -21.23 | 0 | 56.29 | 17.04 | -57.18 | -33.02 |
| 23Q3 (16) | 1.68 | 4.35 | 11.26 | 45.54 | -1.45 | -3.09 | 17.64 | 0.51 | -4.23 | 17.65 | 2.2 | 0.06 | 13.86 | 5.56 | 1.09 | 5.29 | 0.19 | 8.85 | 3.02 | 6.71 | 4.14 | 0.21 | 0.0 | 0.0 | 25.04 | 4.46 | -1.11 | 73.27 | -16.78 | 10.02 | 100.00 | -1.63 | -4.31 | 0.00 | 100.0 | 100.0 | 39.79 | 19.1 | 18.56 |
| 23Q2 (15) | 1.61 | -14.36 | 21.05 | 46.21 | -2.01 | 2.42 | 17.55 | -13.03 | 9.89 | 17.27 | -16.53 | 2.55 | 13.13 | -17.78 | 1.31 | 5.28 | -12.58 | 18.65 | 2.83 | -17.01 | 12.3 | 0.21 | 0.0 | 10.53 | 23.97 | -14.27 | -2.8 | 88.04 | -3.79 | 13.88 | 101.65 | 3.88 | 7.12 | -1.65 | -177.13 | -132.4 | 33.41 | 13.79 | -4.84 |
| 23Q1 (14) | 1.88 | 37.23 | 5.62 | 47.16 | -7.8 | -0.27 | 20.18 | -10.11 | -0.88 | 20.69 | 36.93 | -0.34 | 15.97 | 63.13 | -0.99 | 6.04 | 64.58 | 1.68 | 3.41 | 52.23 | 0.29 | 0.21 | -4.55 | 0.0 | 27.96 | 26.0 | 0.32 | 91.51 | 33.28 | 12.43 | 97.86 | -34.13 | -0.61 | 2.14 | 104.41 | -7.14 | 29.36 | 15.41 | -4.36 |
| 22Q4 (13) | 1.37 | -9.27 | -15.95 | 51.15 | 8.85 | 7.82 | 22.45 | 21.88 | 9.51 | 15.11 | -14.34 | -21.3 | 9.79 | -28.59 | -32.99 | 3.67 | -24.49 | -30.23 | 2.24 | -22.76 | -27.74 | 0.22 | 4.76 | 4.76 | 22.19 | -12.36 | -14.42 | 68.66 | 3.09 | -5.26 | 148.57 | 42.17 | 39.14 | -48.57 | -978.29 | -616.43 | 25.44 | -24.2 | 19.21 |
| 22Q3 (12) | 1.51 | 13.53 | 169.64 | 46.99 | 4.14 | 12.28 | 18.42 | 15.34 | 78.83 | 17.64 | 4.75 | 74.65 | 13.71 | 5.79 | 94.47 | 4.86 | 9.21 | 134.78 | 2.90 | 15.08 | 147.86 | 0.21 | 10.53 | 31.25 | 25.32 | 2.68 | 30.58 | 66.60 | -13.85 | -11.26 | 104.50 | 10.12 | 2.28 | -4.50 | -188.29 | -107.21 | 33.56 | -4.41 | -16.97 |
| 22Q2 (11) | 1.33 | -25.28 | 146.3 | 45.12 | -4.59 | 4.69 | 15.97 | -21.56 | 50.09 | 16.84 | -18.88 | 68.23 | 12.96 | -19.65 | 105.39 | 4.45 | -25.08 | 108.92 | 2.52 | -25.88 | 115.38 | 0.19 | -9.52 | 5.56 | 24.66 | -11.52 | 4.01 | 77.31 | -5.01 | -14.64 | 94.90 | -3.62 | -10.58 | 5.10 | 121.09 | 183.33 | 35.11 | 14.36 | -3.3 |
| 22Q1 (10) | 1.78 | 9.2 | 20.27 | 47.29 | -0.32 | -3.88 | 20.36 | -0.68 | 3.51 | 20.76 | 8.13 | 10.25 | 16.13 | 10.4 | 1.96 | 5.94 | 12.93 | 5.88 | 3.40 | 9.68 | 4.94 | 0.21 | 0.0 | 5.0 | 27.87 | 7.48 | 14.08 | 81.39 | 12.31 | -5.75 | 98.46 | -7.79 | -6.27 | 2.31 | 134.04 | 157.12 | 30.70 | 43.86 | -6.52 |
| 21Q4 (9) | 1.63 | 191.07 | 10.88 | 47.44 | 13.36 | -5.29 | 20.50 | 99.03 | -1.77 | 19.20 | 90.1 | -3.32 | 14.61 | 107.23 | -7.41 | 5.26 | 154.11 | -3.49 | 3.10 | 164.96 | -6.06 | 0.21 | 31.25 | 0.0 | 25.93 | 33.73 | 3.14 | 72.47 | -3.44 | 11.22 | 106.78 | 4.51 | 1.88 | -6.78 | -211.86 | -41.02 | 21.34 | -47.2 | -35.82 |
| 21Q3 (8) | 0.56 | 3.7 | -66.67 | 41.85 | -2.9 | -17.7 | 10.30 | -3.2 | -56.67 | 10.10 | 0.9 | -57.33 | 7.05 | 11.73 | -62.72 | 2.07 | -2.82 | -68.83 | 1.17 | 0.0 | -69.77 | 0.16 | -11.11 | -20.0 | 19.39 | -18.22 | -35.54 | 75.05 | -17.14 | 9.43 | 102.17 | -3.72 | 2.17 | -2.17 | 64.49 | -158.7 | 40.42 | 11.32 | 24.33 |
| 21Q2 (7) | 0.54 | -63.51 | -53.85 | 43.10 | -12.4 | -10.88 | 10.64 | -45.91 | -50.02 | 10.01 | -46.84 | -43.76 | 6.31 | -60.11 | -52.38 | 2.13 | -62.03 | -54.19 | 1.17 | -63.89 | -54.83 | 0.18 | -10.0 | -5.26 | 23.71 | -2.95 | -4.74 | 90.57 | 4.87 | 12.65 | 106.12 | 1.02 | -11.74 | -6.12 | -51.53 | 69.75 | 36.31 | 10.57 | 0 |
| 21Q1 (6) | 1.48 | 0.68 | 46.53 | 49.20 | -1.78 | 1.91 | 19.67 | -5.75 | 10.51 | 18.83 | -5.19 | 23.15 | 15.82 | 0.25 | 42.65 | 5.61 | 2.94 | 43.11 | 3.24 | -1.82 | 40.87 | 0.20 | -4.76 | 0.0 | 24.43 | -2.82 | 10.29 | 86.36 | 32.54 | 0.64 | 105.05 | 0.23 | -10.47 | -4.04 | 15.96 | 74.75 | 32.84 | -1.23 | -2.26 |
| 20Q4 (5) | 1.47 | -12.5 | 18.55 | 50.09 | -1.49 | 5.08 | 20.87 | -12.2 | 6.59 | 19.86 | -16.1 | 12.65 | 15.78 | -16.55 | 19.82 | 5.45 | -17.92 | 16.95 | 3.30 | -14.73 | 14.98 | 0.21 | 5.0 | 0.0 | 25.14 | -16.42 | 2.57 | 65.16 | -4.99 | -0.24 | 104.81 | 4.81 | -5.78 | -4.81 | -472.12 | 57.21 | 33.25 | 2.28 | -1.69 |
| 20Q3 (4) | 1.68 | 43.59 | 0.0 | 50.85 | 5.15 | 0.0 | 23.77 | 11.65 | 0.0 | 23.67 | 32.98 | 0.0 | 18.91 | 42.72 | 0.0 | 6.64 | 42.8 | 0.0 | 3.87 | 49.42 | 0.0 | 0.20 | 5.26 | 0.0 | 30.08 | 20.85 | 0.0 | 68.58 | -14.7 | 0.0 | 100.00 | -16.83 | 0.0 | -0.84 | 95.85 | 0.0 | 32.51 | 0 | 0.0 |
| 20Q2 (3) | 1.17 | 15.84 | 0.0 | 48.36 | 0.17 | 0.0 | 21.29 | 19.61 | 0.0 | 17.80 | 16.42 | 0.0 | 13.25 | 19.48 | 0.0 | 4.65 | 18.62 | 0.0 | 2.59 | 12.61 | 0.0 | 0.19 | -5.0 | 0.0 | 24.89 | 12.37 | 0.0 | 80.40 | -6.3 | 0.0 | 120.24 | 2.48 | 0.0 | -20.24 | -26.49 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 1.01 | -18.55 | 0.0 | 48.28 | 1.28 | 0.0 | 17.80 | -9.09 | 0.0 | 15.29 | -13.27 | 0.0 | 11.09 | -15.79 | 0.0 | 3.92 | -15.88 | 0.0 | 2.30 | -19.86 | 0.0 | 0.20 | -4.76 | 0.0 | 22.15 | -9.63 | 0.0 | 85.81 | 31.37 | 0.0 | 117.33 | 5.48 | 0.0 | -16.00 | -42.4 | 0.0 | 33.60 | -0.65 | 0.0 |
| 19Q4 (1) | 1.24 | 0.0 | 0.0 | 47.67 | 0.0 | 0.0 | 19.58 | 0.0 | 0.0 | 17.63 | 0.0 | 0.0 | 13.17 | 0.0 | 0.0 | 4.66 | 0.0 | 0.0 | 2.87 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 24.51 | 0.0 | 0.0 | 65.32 | 0.0 | 0.0 | 111.24 | 0.0 | 0.0 | -11.24 | 0.0 | 0.0 | 33.82 | 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) | 7.08 | 18.0 | 46.87 | -1.9 | 19.50 | 0.31 | 6.16 | -2.55 | 18.48 | 5.36 | 14.14 | 8.27 | 20.94 | 15.31 | 12.51 | 15.3 | 0.87 | 6.1 | 25.45 | 2.21 | 70.98 | 3.38 | 105.46 | -4.83 | -5.46 | 0 | 7.46 | -10.3 | 29.51 | -4.74 |
| 2022 (9) | 6.00 | 45.99 | 47.78 | 4.67 | 19.44 | 23.35 | 6.32 | -14.77 | 17.54 | 17.17 | 13.06 | 15.27 | 18.16 | 27.35 | 10.85 | 25.87 | 0.82 | 10.81 | 24.90 | 5.73 | 68.66 | -5.26 | 110.81 | 5.42 | -10.81 | 0 | 8.32 | -15.91 | 30.98 | -2.94 |
| 2021 (8) | 4.11 | -21.26 | 45.65 | -7.63 | 15.76 | -24.74 | 7.42 | 40.76 | 14.97 | -22.03 | 11.33 | -23.5 | 14.26 | -26.98 | 8.62 | -28.29 | 0.74 | -7.5 | 23.55 | -8.19 | 72.47 | 11.22 | 105.11 | -3.46 | -5.11 | 0 | 9.89 | -6.02 | 31.92 | -4.43 |
| 2020 (7) | 5.22 | 2.96 | 49.42 | 0.88 | 20.94 | 2.4 | 5.27 | -23.45 | 19.20 | 6.79 | 14.81 | 5.56 | 19.53 | 1.61 | 12.02 | 6.75 | 0.80 | 2.56 | 25.65 | -2.51 | 65.16 | -0.24 | 108.88 | -4.25 | -9.14 | 0 | 10.52 | 24.19 | 33.40 | 2.8 |
| 2019 (6) | 5.07 | 12.42 | 48.99 | 8.41 | 20.45 | 27.89 | 6.89 | -8.19 | 17.98 | 13.37 | 14.03 | 14.16 | 19.22 | 12.4 | 11.26 | 15.13 | 0.78 | 1.3 | 26.31 | 4.78 | 65.32 | -22.99 | 113.71 | 12.58 | -13.71 | 0 | 8.47 | -0.53 | 32.49 | 2.11 |
| 2018 (5) | 4.51 | -1.1 | 45.19 | -2.67 | 15.99 | -2.62 | 7.50 | -9.2 | 15.86 | -0.44 | 12.29 | -6.25 | 17.10 | -2.68 | 9.78 | 0.93 | 0.77 | 8.45 | 25.11 | -4.99 | 84.82 | 13.05 | 101.01 | -1.9 | -0.67 | 0 | 8.52 | 0 | 31.82 | -5.04 |
| 2017 (4) | 4.56 | 47.1 | 46.43 | 7.13 | 16.42 | 21.99 | 8.26 | -4.29 | 15.93 | 34.54 | 13.11 | 52.44 | 17.57 | 48.9 | 9.69 | 41.67 | 0.71 | 7.58 | 26.43 | 9.76 | 75.03 | -26.91 | 102.96 | -9.5 | -2.96 | 0 | 0.00 | 0 | 33.51 | 14.96 |
| 2016 (3) | 3.10 | -26.19 | 43.34 | -10.49 | 13.46 | -15.77 | 8.63 | 9.31 | 11.84 | -15.31 | 8.60 | -22.59 | 11.80 | -20.75 | 6.84 | -10.12 | 0.66 | 6.45 | 24.08 | -3.1 | 102.66 | -9.38 | 113.78 | -0.17 | -13.78 | 0 | 0.00 | 0 | 29.15 | -11.13 |
| 2015 (2) | 4.20 | -31.03 | 48.42 | -1.71 | 15.98 | -22.31 | 7.89 | 1.4 | 13.98 | -34.46 | 11.11 | -36.0 | 14.89 | -32.5 | 7.61 | -42.35 | 0.62 | -15.07 | 24.85 | -20.91 | 113.29 | -4.61 | 113.97 | 18.1 | -14.41 | 0 | 0.00 | 0 | 32.80 | 18.07 |
| 2014 (1) | 6.09 | 12.99 | 49.26 | 0 | 20.57 | 0 | 7.79 | 13.82 | 21.33 | 0 | 17.36 | 0 | 22.06 | 0 | 13.20 | 0 | 0.73 | -13.1 | 31.42 | -9.32 | 118.76 | 391.96 | 96.51 | -0.07 | 3.49 | 2.05 | 0.00 | 0 | 27.78 | 21.15 |
