- 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) | 4.40 | 3.77 | -4.14 | 47.47 | -0.48 | 1.89 | 8.47 | 2.54 | 10.0 | 8.16 | -1.92 | 0.87 | 6.57 | -1.2 | 1.08 | 8.48 | -3.31 | -2.75 | 2.56 | 7.11 | -1.16 | 0.37 | 8.82 | 0.0 | 18.30 | -3.48 | 0.94 | 227.35 | -17.33 | -6.89 | 103.84 | 4.54 | 9.16 | -3.84 | -670.58 | -178.76 | 33.41 | -5.41 | -1.07 |
| 24Q2 (19) | 4.24 | 12.47 | -12.4 | 47.70 | 0.74 | 0.08 | 8.26 | 27.67 | 4.42 | 8.32 | 22.71 | -0.24 | 6.65 | 26.67 | -0.3 | 8.77 | 27.84 | -3.84 | 2.39 | 18.32 | -4.78 | 0.34 | -5.56 | -2.86 | 18.96 | 11.07 | 1.23 | 275.01 | -8.51 | 0.37 | 99.33 | 3.94 | 4.69 | 0.67 | -84.85 | -86.87 | 35.32 | -2.83 | 1.15 |
| 24Q1 (18) | 3.77 | 16.0 | -24.75 | 47.35 | 3.27 | 0.96 | 6.47 | -13.27 | -27.06 | 6.78 | 16.1 | -21.98 | 5.25 | 14.63 | -24.57 | 6.86 | 27.75 | -35.04 | 2.02 | 17.44 | -27.34 | 0.36 | 2.86 | -5.26 | 17.07 | 3.39 | -8.81 | 300.60 | 28.99 | -0.39 | 95.56 | -25.36 | -6.36 | 4.44 | 115.83 | 316.61 | 36.35 | 6.29 | 6.32 |
| 23Q4 (17) | 3.25 | -29.19 | 18.18 | 45.85 | -1.59 | 5.33 | 7.46 | -3.12 | 43.46 | 5.84 | -27.81 | 47.1 | 4.58 | -29.54 | 40.06 | 5.37 | -38.42 | 15.73 | 1.72 | -33.59 | 31.3 | 0.35 | -5.41 | 0.0 | 16.51 | -8.94 | 7.56 | 233.05 | -4.55 | -22.52 | 128.04 | 34.6 | -2.38 | -28.04 | -675.38 | 10.01 | 34.20 | 1.27 | 8.4 |
| 23Q3 (16) | 4.59 | -5.17 | 20.79 | 46.59 | -2.25 | 3.56 | 7.70 | -2.65 | 29.41 | 8.09 | -3.0 | 20.93 | 6.50 | -2.55 | 16.91 | 8.72 | -4.39 | 2.95 | 2.59 | 3.19 | 16.14 | 0.37 | 5.71 | 0.0 | 18.13 | -3.2 | 4.02 | 244.17 | -10.89 | -21.98 | 95.13 | 0.26 | 6.71 | 4.87 | -4.87 | -56.27 | 33.77 | -3.29 | 2.52 |
| 23Q2 (15) | 4.84 | -3.39 | 263.51 | 47.66 | 1.62 | 21.4 | 7.91 | -10.82 | 208.36 | 8.34 | -4.03 | 198.93 | 6.67 | -4.17 | 187.08 | 9.12 | -13.64 | 214.72 | 2.51 | -9.71 | 239.44 | 0.35 | -7.89 | 34.62 | 18.73 | 0.05 | 147.1 | 274.00 | -9.21 | -11.35 | 94.88 | -7.03 | 9.64 | 5.12 | 349.98 | -61.97 | 34.92 | 2.14 | -6.0 |
| 23Q1 (14) | 5.01 | 82.18 | 205.49 | 46.90 | 7.74 | 5.73 | 8.87 | 70.58 | 154.15 | 8.69 | 118.89 | 220.66 | 6.96 | 112.84 | 282.42 | 10.56 | 127.59 | 327.53 | 2.78 | 112.21 | 180.81 | 0.38 | 8.57 | 11.76 | 18.72 | 21.95 | 17.59 | 301.78 | 0.33 | 2.61 | 102.05 | -22.19 | -20.49 | -2.05 | 93.42 | 92.97 | 34.19 | 8.37 | -3.55 |
| 22Q4 (13) | 2.75 | -27.63 | 166.99 | 43.53 | -3.25 | -0.18 | 5.20 | -12.61 | 45.66 | 3.97 | -40.66 | 459.15 | 3.27 | -41.19 | 197.27 | 4.64 | -45.22 | 177.84 | 1.31 | -41.26 | 89.86 | 0.35 | -5.41 | -7.89 | 15.35 | -11.93 | 28.34 | 300.79 | -3.89 | 0.12 | 131.16 | 47.12 | -73.77 | -31.16 | -379.58 | 92.21 | 31.55 | -4.22 | -5.76 |
| 22Q3 (12) | 3.80 | 228.38 | 362.07 | 44.99 | 14.6 | 14.95 | 5.95 | 181.51 | 195.05 | 6.69 | 179.36 | 287.39 | 5.56 | 172.58 | 269.0 | 8.47 | 206.54 | 337.92 | 2.23 | 223.89 | 414.08 | 0.37 | 42.31 | 23.33 | 17.43 | 129.95 | 48.47 | 312.96 | 1.26 | 5.77 | 89.15 | 3.02 | -49.0 | 11.14 | -17.26 | 114.9 | 32.94 | -11.33 | -10.97 |
| 22Q2 (11) | -2.96 | -280.49 | -4.96 | 39.26 | -11.5 | -1.78 | -7.30 | -309.17 | -33.7 | -8.43 | -411.07 | 4.42 | -7.66 | -520.88 | -19.69 | -7.95 | -421.86 | -28.02 | -1.80 | -281.82 | -11.8 | 0.26 | -23.53 | -10.34 | 7.58 | -52.39 | -1.3 | 309.08 | 5.1 | 30.42 | 86.53 | -32.58 | 39.48 | 13.47 | 146.23 | -64.52 | 37.15 | 4.8 | -5.95 |
| 22Q1 (10) | 1.64 | 59.22 | -8.89 | 44.36 | 1.72 | -3.71 | 3.49 | -2.24 | -30.06 | 2.71 | 281.69 | -22.13 | 1.82 | 65.45 | -34.77 | 2.47 | 47.9 | -25.38 | 0.99 | 43.48 | -25.56 | 0.34 | -10.53 | -5.56 | 15.92 | 33.11 | -1.55 | 294.09 | -2.11 | 22.7 | 128.35 | -74.33 | -10.81 | -29.13 | 92.72 | 32.7 | 35.45 | 5.88 | -0.11 |
| 21Q4 (9) | 1.03 | 171.03 | -50.95 | 43.61 | 11.42 | -11.2 | 3.57 | 157.03 | -39.59 | 0.71 | 119.89 | -84.83 | 1.10 | 133.43 | -71.5 | 1.67 | 146.91 | -59.37 | 0.69 | 197.18 | -56.6 | 0.38 | 26.67 | 11.76 | 11.96 | 1.87 | -33.56 | 300.42 | 1.53 | 33.97 | 500.00 | 186.02 | 294.53 | -400.00 | -434.65 | -1424.53 | 33.48 | -9.51 | -5.18 |
| 21Q3 (8) | -1.45 | 48.58 | -140.28 | 39.14 | -2.08 | -18.46 | -6.26 | -14.65 | -169.94 | -3.57 | 59.52 | -142.81 | -3.29 | 48.59 | -147.41 | -3.56 | 42.67 | -143.73 | -0.71 | 55.9 | -126.39 | 0.30 | 3.45 | -18.92 | 11.74 | 52.86 | -43.53 | 295.89 | 24.85 | 43.96 | 174.81 | 181.79 | 62.99 | -74.81 | -297.07 | -930.78 | 37.00 | -6.33 | 2.69 |
| 21Q2 (7) | -2.82 | -256.67 | -427.91 | 39.97 | -13.24 | -11.69 | -5.46 | -209.42 | -219.47 | -8.82 | -353.45 | -425.46 | -6.40 | -329.39 | -416.83 | -6.21 | -287.61 | -430.32 | -1.61 | -221.05 | -333.33 | 0.29 | -19.44 | 0.0 | 7.68 | -52.5 | -53.4 | 236.99 | -1.12 | 0.85 | 62.04 | -56.89 | -62.93 | 37.96 | 187.69 | 155.48 | 39.50 | 11.3 | 20.02 |
| 21Q1 (6) | 1.80 | -14.29 | 190.91 | 46.07 | -6.19 | 13.44 | 4.99 | -15.57 | 157.22 | 3.48 | -25.64 | 131.93 | 2.79 | -27.72 | 128.47 | 3.31 | -19.46 | 146.88 | 1.33 | -16.35 | 161.29 | 0.36 | 5.88 | 50.0 | 16.17 | -10.17 | 148.39 | 239.68 | 6.88 | 18.07 | 143.90 | 13.55 | 80.16 | -43.29 | -65.0 | -315.13 | 35.49 | 0.51 | -17.31 |
| 20Q4 (5) | 2.10 | -41.67 | 180.0 | 49.11 | 2.31 | 14.02 | 5.91 | -33.97 | 131.76 | 4.68 | -43.88 | 222.76 | 3.86 | -44.38 | 203.94 | 4.11 | -49.51 | 266.96 | 1.59 | -40.89 | 174.14 | 0.34 | -8.11 | 13.33 | 18.00 | -13.42 | 14.8 | 224.25 | 9.1 | 15.59 | 126.73 | 18.16 | -28.14 | -26.24 | -261.5 | 65.64 | 35.31 | -2.0 | -0.56 |
| 20Q3 (4) | 3.60 | 318.6 | 0.0 | 48.00 | 6.05 | 0.0 | 8.95 | 95.84 | 0.0 | 8.34 | 207.75 | 0.0 | 6.94 | 243.56 | 0.0 | 8.14 | 332.98 | 0.0 | 2.69 | 289.86 | 0.0 | 0.37 | 27.59 | 0.0 | 20.79 | 26.15 | 0.0 | 205.54 | -12.53 | 0.0 | 107.26 | -35.91 | 0.0 | -7.26 | 89.39 | 0.0 | 36.03 | 9.48 | 0.0 |
| 20Q2 (3) | 0.86 | 143.43 | 0.0 | 45.26 | 11.45 | 0.0 | 4.57 | 152.41 | 0.0 | 2.71 | 124.86 | 0.0 | 2.02 | 120.61 | 0.0 | 1.88 | 126.63 | 0.0 | 0.69 | 131.8 | 0.0 | 0.29 | 20.83 | 0.0 | 16.48 | 153.15 | 0.0 | 234.99 | 15.76 | 0.0 | 167.37 | 109.53 | 0.0 | -68.42 | -440.0 | 0.0 | 32.91 | -23.32 | 0.0 |
| 20Q1 (2) | -1.98 | -364.0 | 0.0 | 40.61 | -5.71 | 0.0 | -8.72 | -441.96 | 0.0 | -10.90 | -851.72 | 0.0 | -9.80 | -871.65 | 0.0 | -7.06 | -730.36 | 0.0 | -2.17 | -474.14 | 0.0 | 0.24 | -20.0 | 0.0 | 6.51 | -58.48 | 0.0 | 203.00 | 4.63 | 0.0 | 79.88 | -54.71 | 0.0 | 20.12 | 126.35 | 0.0 | 42.92 | 20.87 | 0.0 |
| 19Q4 (1) | 0.75 | 0.0 | 0.0 | 43.07 | 0.0 | 0.0 | 2.55 | 0.0 | 0.0 | 1.45 | 0.0 | 0.0 | 1.27 | 0.0 | 0.0 | 1.12 | 0.0 | 0.0 | 0.58 | 0.0 | 0.0 | 0.30 | 0.0 | 0.0 | 15.68 | 0.0 | 0.0 | 194.01 | 0.0 | 0.0 | 176.36 | 0.0 | 0.0 | -76.36 | 0.0 | 0.0 | 35.51 | 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) | 16.79 | 222.26 | 46.74 | 7.87 | 7.99 | 210.89 | 9.69 | -16.83 | 7.75 | 283.66 | 6.18 | 329.17 | 32.90 | 336.34 | 9.69 | 251.09 | 1.47 | 12.21 | 18.02 | 23.59 | 233.05 | -22.52 | 103.12 | -18.99 | -3.12 | 0 | 0.25 | -11.37 | 34.26 | 0.74 |
| 2022 (9) | 5.21 | 0 | 43.33 | 1.88 | 2.57 | 0 | 11.65 | -7.18 | 2.02 | 0 | 1.44 | 0 | 7.54 | 0 | 2.76 | 0 | 1.31 | 2.34 | 14.58 | 19.9 | 300.79 | 0.12 | 127.30 | 1463.94 | -27.30 | 0 | 0.28 | 23.53 | 34.01 | -5.76 |
| 2021 (8) | -1.40 | 0 | 42.53 | -8.04 | -0.12 | 0 | 12.55 | -4.61 | -1.50 | 0 | -1.00 | 0 | -4.60 | 0 | -0.23 | 0 | 1.28 | 9.4 | 12.16 | -25.08 | 300.42 | 33.97 | 8.14 | -94.93 | 91.86 | 0 | 0.23 | -27.41 | 36.09 | -0.99 |
| 2020 (7) | 4.61 | -3.35 | 46.25 | 4.05 | 3.65 | -1.88 | 13.15 | -2.54 | 2.27 | -16.24 | 1.68 | -21.86 | 6.06 | -23.48 | 2.65 | -28.76 | 1.17 | -19.86 | 16.23 | -3.28 | 224.25 | 15.59 | 160.40 | 16.85 | -60.69 | 0 | 0.32 | 3.63 | 36.45 | 2.1 |
| 2019 (6) | 4.77 | 5.53 | 44.45 | -3.43 | 3.72 | 6.59 | 13.50 | 166.78 | 2.71 | -24.93 | 2.15 | -12.96 | 7.92 | -6.93 | 3.72 | -11.43 | 1.46 | -14.12 | 16.78 | 92.21 | 194.01 | 73.53 | 137.27 | 42.11 | -37.27 | 0 | 0.31 | -39.89 | 35.70 | -1.03 |
| 2018 (5) | 4.52 | -24.79 | 46.03 | -7.18 | 3.49 | -45.72 | 5.06 | -0.65 | 3.61 | -40.72 | 2.47 | -41.05 | 8.51 | -37.43 | 4.20 | -39.74 | 1.70 | 2.41 | 8.73 | -22.47 | 111.80 | 17.34 | 96.60 | -8.53 | 3.23 | 0 | 0.51 | 0 | 36.07 | -3.38 |
| 2017 (4) | 6.01 | 43.1 | 49.59 | 1.12 | 6.43 | 19.29 | 5.09 | -3.54 | 6.09 | 23.28 | 4.19 | 24.7 | 13.60 | 16.54 | 6.97 | 19.55 | 1.66 | -4.6 | 11.26 | 9.43 | 95.28 | 0.15 | 105.61 | -3.27 | -5.61 | 0 | 0.00 | 0 | 37.33 | -4.04 |
| 2016 (3) | 4.20 | 833.33 | 49.04 | -0.04 | 5.39 | 26.82 | 5.28 | 0.89 | 4.94 | 129.77 | 3.36 | 148.89 | 11.67 | 143.12 | 5.83 | 137.96 | 1.74 | -2.79 | 10.29 | 38.31 | 95.14 | -9.7 | 109.18 | -44.8 | -9.18 | 0 | 0.00 | 0 | 38.90 | 0.57 |
| 2015 (2) | 0.45 | -95.08 | 49.06 | -3.95 | 4.25 | -40.56 | 5.23 | 16.49 | 2.15 | -69.5 | 1.35 | -74.29 | 4.80 | -73.26 | 2.45 | -74.32 | 1.79 | -1.65 | 7.44 | -35.7 | 105.36 | 12.53 | 197.79 | 95.01 | -97.79 | 0 | 0.00 | 0 | 38.68 | -0.87 |
| 2014 (1) | 9.14 | -32.99 | 51.08 | 0 | 7.15 | 0 | 4.49 | 12.55 | 7.05 | 0 | 5.25 | 0 | 17.95 | 0 | 9.54 | 0 | 1.82 | 3.41 | 11.57 | -15.55 | 93.63 | 13.3 | 101.42 | 2.78 | -1.42 | 0 | 0.00 | 0 | 39.02 | 2.47 |
