- 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) | 3.52 | -6.63 | -15.38 | 51.71 | -1.15 | -3.58 | 13.03 | 0.54 | -20.31 | 12.41 | -12.42 | -25.24 | 9.76 | -16.37 | -27.33 | 8.13 | -18.46 | -21.07 | 4.59 | -4.18 | -22.34 | 0.46 | 15.0 | 6.98 | 20.17 | -7.05 | -12.57 | 72.58 | -20.14 | -6.73 | 105.04 | 14.51 | 6.62 | -5.04 | -161.01 | -440.34 | 32.37 | 0.56 | 3.39 |
| 24Q2 (19) | 3.77 | -3.33 | 6.5 | 52.31 | -1.84 | -1.8 | 12.96 | -11.11 | -15.46 | 14.17 | -5.34 | -9.05 | 11.67 | -2.91 | -6.04 | 9.97 | 3.85 | 2.78 | 4.79 | -0.42 | -7.35 | 0.40 | 2.56 | -2.44 | 21.70 | -1.77 | -3.81 | 90.88 | -32.5 | 19.66 | 91.74 | -5.33 | -6.67 | 8.26 | 255.37 | 383.47 | 32.19 | -3.48 | 3.5 |
| 24Q1 (18) | 3.90 | 26.62 | -2.5 | 53.29 | 1.97 | -1.91 | 14.58 | 2.17 | -15.92 | 14.97 | 11.22 | -15.04 | 12.02 | 15.8 | -14.87 | 9.60 | 36.36 | -10.11 | 4.81 | 18.77 | -15.02 | 0.39 | 2.63 | -2.5 | 22.09 | 6.51 | -9.09 | 134.64 | 75.08 | 25.32 | 96.90 | -8.29 | -1.61 | 2.33 | 141.09 | 53.49 | 33.35 | 5.74 | 8.84 |
| 23Q4 (17) | 3.08 | -25.96 | -25.24 | 52.26 | -2.55 | -1.41 | 14.27 | -12.72 | -18.36 | 13.46 | -18.92 | -29.31 | 10.38 | -22.71 | -32.33 | 7.04 | -31.65 | -33.58 | 4.05 | -31.47 | -34.25 | 0.38 | -11.63 | -5.0 | 20.74 | -10.1 | -20.14 | 76.90 | -1.18 | -0.67 | 105.66 | 7.25 | 15.19 | -5.66 | -482.08 | -168.44 | 31.54 | 0.73 | 10.98 |
| 23Q3 (16) | 4.16 | 17.51 | 28.0 | 53.63 | 0.68 | 1.44 | 16.35 | 6.65 | 8.57 | 16.60 | 6.55 | 9.07 | 13.43 | 8.13 | 10.35 | 10.30 | 6.19 | 11.83 | 5.91 | 14.31 | 8.64 | 0.43 | 4.88 | -2.27 | 23.07 | 2.26 | 4.11 | 77.82 | 2.46 | 10.74 | 98.52 | 0.23 | -0.52 | 1.48 | -13.33 | 54.07 | 31.31 | 0.68 | 4.05 |
| 23Q2 (15) | 3.54 | -11.5 | 436.36 | 53.27 | -1.95 | 9.29 | 15.33 | -11.59 | 322.31 | 15.58 | -11.58 | 306.79 | 12.42 | -12.04 | 295.54 | 9.70 | -9.18 | 467.25 | 5.17 | -8.66 | 406.86 | 0.41 | 2.5 | 36.67 | 22.56 | -7.16 | 62.07 | 75.95 | -29.31 | 3.26 | 98.29 | -0.2 | 4.07 | 1.71 | 12.82 | -69.23 | 31.10 | 1.5 | -15.21 |
| 23Q1 (14) | 4.00 | -2.91 | 48.7 | 54.33 | 2.49 | 3.54 | 17.34 | -0.8 | 26.57 | 17.62 | -7.46 | 29.56 | 14.12 | -7.95 | 30.74 | 10.68 | 0.75 | 51.7 | 5.66 | -8.12 | 47.4 | 0.40 | 0.0 | 14.29 | 24.30 | -6.43 | 11.83 | 107.44 | 38.78 | 19.38 | 98.48 | 7.36 | -1.52 | 1.52 | -81.68 | 216.67 | 30.64 | 7.81 | -4.28 |
| 22Q4 (13) | 4.12 | 26.77 | 9.57 | 53.01 | 0.26 | -0.8 | 17.48 | 16.07 | -2.07 | 19.04 | 25.1 | 7.27 | 15.34 | 26.05 | 8.95 | 10.60 | 15.09 | 5.37 | 6.16 | 13.24 | 9.41 | 0.40 | -9.09 | 2.56 | 25.97 | 17.19 | 2.53 | 77.42 | 10.18 | -6.77 | 91.73 | -7.38 | -9.12 | 8.27 | 760.15 | 984.96 | 28.42 | -5.55 | 7.49 |
| 22Q3 (12) | 3.25 | 392.42 | 10733.33 | 52.87 | 8.47 | 17.02 | 15.06 | 314.88 | 4463.64 | 15.22 | 297.39 | 7910.53 | 12.17 | 287.58 | 24240.0 | 9.21 | 438.6 | 45950.0 | 5.44 | 433.33 | 5944.44 | 0.44 | 46.67 | 69.23 | 22.16 | 59.2 | 90.71 | 70.27 | -4.46 | -10.89 | 99.04 | 4.86 | -0.96 | 0.96 | -82.69 | 0 | 30.09 | -17.97 | -13.61 |
| 22Q2 (11) | 0.66 | -75.46 | 135.71 | 48.74 | -7.11 | 12.15 | 3.63 | -73.5 | 142.21 | 3.83 | -71.84 | 2027.78 | 3.14 | -70.93 | 55.45 | 1.71 | -75.71 | 116.46 | 1.02 | -73.44 | 104.0 | 0.30 | -14.29 | 36.36 | 13.92 | -35.94 | 0.65 | 73.55 | -18.28 | 6.69 | 94.44 | -5.56 | 103.5 | 5.56 | 527.78 | -99.79 | 36.68 | 14.59 | -13.29 |
| 22Q1 (10) | 2.69 | -28.46 | 1.89 | 52.47 | -1.82 | -2.18 | 13.70 | -23.25 | -7.93 | 13.60 | -23.38 | -8.66 | 10.80 | -23.3 | -8.4 | 7.04 | -30.02 | -0.14 | 3.84 | -31.79 | -6.8 | 0.35 | -10.26 | 2.94 | 21.73 | -14.21 | -6.46 | 90.00 | 8.38 | -3.19 | 100.00 | -0.93 | 0.0 | -1.30 | -38.96 | 0 | 32.01 | 21.07 | 2.76 |
| 21Q4 (9) | 3.76 | 12433.33 | 48.03 | 53.44 | 18.28 | -2.12 | 17.85 | 5309.09 | 30.39 | 17.75 | 9242.11 | 27.51 | 14.08 | 28060.0 | 26.62 | 10.06 | 50200.0 | 56.7 | 5.63 | 6155.56 | 28.54 | 0.39 | 50.0 | 0.0 | 25.33 | 117.99 | 15.77 | 83.04 | 5.3 | 45.2 | 100.93 | 0.93 | 2.38 | -0.93 | 0 | -166.36 | 26.44 | -24.09 | -18.87 |
| 21Q3 (8) | 0.03 | -89.29 | -99.19 | 45.18 | 3.96 | -18.74 | 0.33 | 103.84 | -97.98 | 0.19 | 5.56 | -99.02 | 0.05 | -97.52 | -99.69 | 0.02 | -97.47 | -99.8 | 0.09 | -82.0 | -98.77 | 0.26 | 18.18 | -42.22 | 11.62 | -15.98 | -57.06 | 78.86 | 14.39 | 99.7 | 100.00 | 103.7 | 18.82 | 0.00 | -100.0 | -100.0 | 34.83 | -17.66 | 12.14 |
| 21Q2 (7) | 0.28 | -89.39 | -88.62 | 43.46 | -18.98 | -19.5 | -8.60 | -157.8 | -169.08 | 0.18 | -98.79 | -98.89 | 2.02 | -82.87 | -85.31 | 0.79 | -88.79 | -89.03 | 0.50 | -87.86 | -89.71 | 0.22 | -35.29 | -37.14 | 13.83 | -40.46 | -46.33 | 68.94 | -25.85 | 57.72 | -2700.00 | -2800.0 | -3626.53 | 2700.00 | 0 | 11420.0 | 42.30 | 35.79 | 0 |
| 21Q1 (6) | 2.64 | 3.94 | 55.29 | 53.64 | -1.76 | 0.96 | 14.88 | 8.69 | 25.36 | 14.89 | 6.97 | 23.57 | 11.79 | 6.03 | 22.68 | 7.05 | 9.81 | 44.47 | 4.12 | -5.94 | 23.72 | 0.34 | -12.82 | 0.0 | 23.23 | 6.17 | 6.66 | 92.97 | 62.56 | 62.53 | 100.00 | 1.43 | 2.22 | 0.00 | -100.0 | -100.0 | 31.15 | -4.42 | -6.2 |
| 20Q4 (5) | 2.54 | -31.54 | 59.75 | 54.60 | -1.8 | 3.86 | 13.69 | -16.12 | 29.52 | 13.92 | -27.91 | 31.94 | 11.12 | -30.59 | 33.65 | 6.42 | -37.24 | 58.91 | 4.38 | -39.92 | 54.23 | 0.39 | -13.33 | 18.18 | 21.88 | -19.14 | 8.53 | 57.19 | 44.82 | 32.38 | 98.59 | 17.15 | -1.41 | 1.41 | -91.11 | 0 | 32.59 | 4.93 | 0.84 |
| 20Q3 (4) | 3.71 | 50.81 | 0.0 | 55.60 | 2.98 | 0.0 | 16.32 | 31.08 | 0.0 | 19.31 | 18.9 | 0.0 | 16.02 | 16.51 | 0.0 | 10.23 | 42.08 | 0.0 | 7.29 | 50.0 | 0.0 | 0.45 | 28.57 | 0.0 | 27.06 | 5.01 | 0.0 | 39.49 | -9.65 | 0.0 | 84.16 | 9.92 | 0.0 | 15.84 | -32.41 | 0.0 | 31.06 | 0 | 0.0 |
| 20Q2 (3) | 2.46 | 44.71 | 0.0 | 53.99 | 1.62 | 0.0 | 12.45 | 4.89 | 0.0 | 16.24 | 34.77 | 0.0 | 13.75 | 43.08 | 0.0 | 7.20 | 47.54 | 0.0 | 4.86 | 45.95 | 0.0 | 0.35 | 2.94 | 0.0 | 25.77 | 18.32 | 0.0 | 43.71 | -23.58 | 0.0 | 76.56 | -21.74 | 0.0 | 23.44 | 978.13 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 1.70 | 6.92 | 0.0 | 53.13 | 1.07 | 0.0 | 11.87 | 12.3 | 0.0 | 12.05 | 14.22 | 0.0 | 9.61 | 15.5 | 0.0 | 4.88 | 20.79 | 0.0 | 3.33 | 17.25 | 0.0 | 0.34 | 3.03 | 0.0 | 21.78 | 8.04 | 0.0 | 57.20 | 32.41 | 0.0 | 97.83 | -2.17 | 0.0 | 2.17 | 0 | 0.0 | 33.21 | 2.75 | 0.0 |
| 19Q4 (1) | 1.59 | 0.0 | 0.0 | 52.57 | 0.0 | 0.0 | 10.57 | 0.0 | 0.0 | 10.55 | 0.0 | 0.0 | 8.32 | 0.0 | 0.0 | 4.04 | 0.0 | 0.0 | 2.84 | 0.0 | 0.0 | 0.33 | 0.0 | 0.0 | 20.16 | 0.0 | 0.0 | 43.20 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 32.32 | 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) | 14.78 | 42.66 | 53.37 | 2.6 | 15.81 | 19.5 | 6.58 | -12.62 | 15.80 | 14.99 | 12.58 | 14.16 | 34.39 | 26.34 | 19.72 | 28.05 | 1.54 | 12.41 | 22.68 | 5.19 | 76.90 | -0.67 | 100.00 | 3.75 | 0.00 | 0 | 0.38 | -20.62 | 31.16 | -0.54 |
| 2022 (9) | 10.36 | 55.09 | 52.02 | 3.92 | 13.23 | 50.34 | 7.53 | -19.12 | 13.74 | 33.79 | 11.02 | 30.57 | 27.22 | 62.12 | 15.40 | 51.72 | 1.37 | 17.09 | 21.56 | 8.29 | 77.42 | -6.77 | 96.39 | 12.25 | 3.61 | -74.42 | 0.47 | -3.53 | 31.33 | -2.88 |
| 2021 (8) | 6.68 | -35.08 | 50.06 | -8.06 | 8.80 | -36.23 | 9.31 | 11.4 | 10.27 | -34.08 | 8.44 | -34.01 | 16.79 | -38.32 | 10.15 | -44.51 | 1.17 | -17.02 | 19.91 | -17.52 | 83.04 | 45.2 | 85.87 | -3.09 | 14.13 | 24.08 | 0.49 | -11.45 | 32.26 | 0.25 |
| 2020 (7) | 10.29 | 54.5 | 54.45 | 1.66 | 13.80 | 17.65 | 8.36 | -10.96 | 15.58 | 33.5 | 12.79 | 37.08 | 27.22 | 27.85 | 18.29 | 17.24 | 1.41 | -13.5 | 24.14 | 13.01 | 57.19 | 32.38 | 88.61 | -11.93 | 11.39 | 0 | 0.56 | -11.21 | 32.18 | -0.09 |
| 2019 (6) | 6.66 | -9.51 | 53.56 | -3.41 | 11.73 | -8.57 | 9.39 | 107.72 | 11.67 | -10.09 | 9.33 | -10.46 | 21.29 | -32.88 | 15.60 | -31.94 | 1.63 | -25.91 | 21.36 | 21.78 | 43.20 | 26.13 | 100.61 | 2.03 | -0.61 | 0 | 0.63 | -46.96 | 32.21 | 1.04 |
| 2018 (5) | 7.36 | -49.14 | 55.45 | 0.11 | 12.83 | 5.68 | 4.52 | 13.63 | 12.98 | 5.7 | 10.42 | 3.68 | 31.72 | -13.57 | 22.92 | -9.23 | 2.20 | -12.35 | 17.54 | 7.34 | 34.25 | -23.63 | 98.61 | -0.52 | 1.39 | 58.33 | 1.18 | 0 | 31.88 | -3.07 |
| 2017 (4) | 14.47 | -34.73 | 55.39 | -3.45 | 12.14 | -20.6 | 3.98 | 13.31 | 12.28 | -19.21 | 10.05 | -16.39 | 36.70 | -26.45 | 25.25 | -22.0 | 2.51 | -6.69 | 16.34 | -12.76 | 44.85 | -2.35 | 99.12 | -1.72 | 0.88 | 0 | 0.00 | 0 | 32.89 | -1.05 |
| 2016 (3) | 22.17 | 28.75 | 57.37 | -3.47 | 15.29 | 0.39 | 3.51 | 29.21 | 15.20 | 0.46 | 12.02 | -2.99 | 49.90 | -14.64 | 32.37 | -11.12 | 2.69 | -8.5 | 18.73 | 4.46 | 45.93 | -31.26 | 100.85 | 0.85 | -0.85 | 0 | 0.00 | 0 | 33.24 | -1.98 |
| 2015 (2) | 17.22 | 0 | 59.43 | 0 | 15.23 | 0 | 2.72 | 0 | 15.13 | 0 | 12.39 | 0 | 58.46 | 0 | 36.42 | 0 | 2.94 | 0 | 17.93 | 0 | 66.82 | 33.61 | 100.00 | 0 | -1.19 | 0 | 0.00 | 0 | 33.91 | 0 |
| 2014 (1) | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 50.01 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 |
