- 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) | 2.18 | 3.81 | -2.68 | 34.31 | -1.12 | 0.5 | 9.07 | 6.46 | 0.33 | 8.76 | -3.74 | -8.94 | 6.88 | -1.99 | -8.02 | 4.04 | 2.28 | -6.48 | 2.37 | 3.49 | -6.69 | 0.33 | 6.45 | 0.0 | 18.67 | -4.45 | -2.35 | 78.56 | -3.49 | -0.36 | 103.33 | 10.31 | 9.87 | -3.89 | -161.52 | -165.4 | 21.25 | -4.92 | 1.97 |
| 24Q2 (19) | 2.10 | -11.02 | -3.23 | 34.70 | -2.83 | -2.61 | 8.52 | -6.58 | -12.79 | 9.10 | -14.47 | -14.63 | 7.02 | -15.93 | -11.7 | 3.95 | -16.84 | -9.4 | 2.29 | -16.42 | -10.2 | 0.31 | 0.0 | 0.0 | 19.54 | -5.38 | -3.84 | 81.40 | -1.24 | 6.8 | 93.68 | 9.11 | 2.34 | 6.32 | -55.31 | -25.32 | 22.35 | -2.15 | 2.19 |
| 24Q1 (18) | 2.36 | 21.65 | 18.0 | 35.71 | 5.22 | 0.48 | 9.12 | 12.32 | -5.1 | 10.64 | 48.81 | 10.14 | 8.35 | 29.66 | 11.48 | 4.75 | 30.85 | 19.65 | 2.74 | 26.85 | 16.6 | 0.31 | 0.0 | 3.33 | 20.65 | 19.23 | 5.46 | 82.42 | 4.05 | 4.49 | 85.85 | -24.6 | -13.63 | 14.15 | 202.0 | 2262.44 | 22.84 | 41.34 | 5.3 |
| 23Q4 (17) | 1.94 | -13.39 | -21.46 | 33.94 | -0.59 | -7.55 | 8.12 | -10.18 | -34.83 | 7.15 | -25.68 | -36.5 | 6.44 | -13.9 | -28.36 | 3.63 | -15.97 | -25.46 | 2.16 | -14.96 | -24.74 | 0.31 | -6.06 | 0.0 | 17.32 | -9.41 | -18.42 | 79.21 | 0.47 | 6.84 | 113.87 | 21.07 | 2.53 | -13.87 | -333.24 | -31.42 | 16.16 | -22.46 | -20.16 |
| 23Q3 (16) | 2.24 | 3.23 | -16.73 | 34.14 | -4.18 | -6.7 | 9.04 | -7.47 | -18.34 | 9.62 | -9.76 | -25.54 | 7.48 | -5.91 | -23.67 | 4.32 | -0.92 | -22.02 | 2.54 | -0.39 | -20.13 | 0.33 | 6.45 | 6.45 | 19.12 | -5.91 | -15.96 | 78.84 | 3.44 | 1.21 | 94.05 | 2.75 | 9.33 | 5.95 | -29.76 | -58.74 | 20.84 | -4.71 | 0.34 |
| 23Q2 (15) | 2.17 | 8.5 | -13.89 | 35.63 | 0.25 | -4.53 | 9.77 | 1.66 | -14.75 | 10.66 | 10.35 | -15.4 | 7.95 | 6.14 | -17.79 | 4.36 | 9.82 | -19.71 | 2.55 | 8.51 | -16.67 | 0.31 | 3.33 | 0.0 | 20.32 | 3.78 | -10.29 | 76.22 | -3.37 | -7.6 | 91.53 | -7.91 | 0.97 | 8.47 | 1313.76 | -4.65 | 21.87 | 0.83 | 2.82 |
| 23Q1 (14) | 2.00 | -19.03 | -13.79 | 35.54 | -3.19 | -6.72 | 9.61 | -22.87 | -15.33 | 9.66 | -14.21 | -21.14 | 7.49 | -16.69 | -21.07 | 3.97 | -18.48 | -19.96 | 2.35 | -18.12 | -17.83 | 0.30 | -3.23 | 3.45 | 19.58 | -7.77 | -14.31 | 78.88 | 6.39 | -6.63 | 99.40 | -10.49 | 7.26 | 0.60 | 105.67 | -91.83 | 21.69 | 7.16 | -3.04 |
| 22Q4 (13) | 2.47 | -8.18 | 5.11 | 36.71 | 0.33 | -1.21 | 12.46 | 12.56 | 17.88 | 11.26 | -12.85 | 4.07 | 8.99 | -8.27 | 0.45 | 4.87 | -12.09 | 4.06 | 2.87 | -9.75 | 2.14 | 0.31 | 0.0 | 3.33 | 21.23 | -6.68 | 2.12 | 74.14 | -4.83 | -1.68 | 111.06 | 29.09 | 13.7 | -10.55 | -173.23 | -553.77 | 20.24 | -2.55 | 30.08 |
| 22Q3 (12) | 2.69 | 6.75 | 46.99 | 36.59 | -1.96 | 1.41 | 11.07 | -3.4 | 21.65 | 12.92 | 2.54 | 37.3 | 9.80 | 1.34 | 37.45 | 5.54 | 2.03 | 29.44 | 3.18 | 3.92 | 32.5 | 0.31 | 0.0 | -3.13 | 22.75 | 0.44 | 15.13 | 77.90 | -5.56 | 13.23 | 86.03 | -5.11 | -11.46 | 14.41 | 62.31 | 306.38 | 20.77 | -2.35 | -9.77 |
| 22Q2 (11) | 2.52 | 8.62 | 4.56 | 37.32 | -2.05 | -2.48 | 11.46 | 0.97 | -6.22 | 12.60 | 2.86 | -2.78 | 9.67 | 1.9 | 0.1 | 5.43 | 9.48 | -18.83 | 3.06 | 6.99 | -11.82 | 0.31 | 6.9 | -11.43 | 22.65 | -0.88 | -3.53 | 82.49 | -2.36 | -27.78 | 90.65 | -2.18 | -4.25 | 8.88 | 21.13 | 51.74 | 21.27 | -4.92 | 0.61 |
| 22Q1 (10) | 2.32 | -1.28 | 0.87 | 38.10 | 2.53 | -1.17 | 11.35 | 7.38 | -6.43 | 12.25 | 13.22 | -0.65 | 9.49 | 6.03 | -1.56 | 4.96 | 5.98 | -21.52 | 2.86 | 1.78 | -16.13 | 0.29 | -3.33 | -14.71 | 22.85 | 9.91 | -0.65 | 84.48 | 12.03 | 0.44 | 92.67 | -5.12 | -5.7 | 7.33 | 215.18 | 325.13 | 22.37 | 43.77 | -1.76 |
| 21Q4 (9) | 2.35 | 28.42 | -12.64 | 37.16 | 2.99 | -5.45 | 10.57 | 16.15 | -21.7 | 10.82 | 14.98 | -25.53 | 8.95 | 25.53 | -20.94 | 4.68 | 9.35 | -42.86 | 2.81 | 17.08 | -35.99 | 0.30 | -6.25 | -21.05 | 20.79 | 5.21 | -16.71 | 75.41 | 9.61 | -21.63 | 97.67 | 0.53 | 4.76 | 2.33 | -34.42 | -67.91 | 15.56 | -32.41 | -20.41 |
| 21Q3 (8) | 1.83 | -24.07 | -36.24 | 36.08 | -5.72 | -8.7 | 9.10 | -25.53 | -38.56 | 9.41 | -27.39 | -44.71 | 7.13 | -26.19 | -45.36 | 4.28 | -36.02 | -56.06 | 2.40 | -30.84 | -53.4 | 0.32 | -8.57 | -17.95 | 19.76 | -15.84 | -27.59 | 68.80 | -39.77 | -20.26 | 97.16 | 2.62 | 11.54 | 3.55 | -39.39 | -72.49 | 23.02 | 8.89 | 9.93 |
| 21Q2 (7) | 2.41 | 4.78 | -3.21 | 38.27 | -0.73 | -2.42 | 12.22 | 0.74 | -16.42 | 12.96 | 5.11 | -17.61 | 9.66 | 0.21 | -20.75 | 6.69 | 5.85 | -23.54 | 3.47 | 1.76 | -23.4 | 0.35 | 2.94 | -2.78 | 23.48 | 2.09 | -11.76 | 114.22 | 35.8 | 13.96 | 94.68 | -3.66 | 2.09 | 5.85 | 239.36 | -19.34 | 21.14 | -7.16 | -2.63 |
| 21Q1 (6) | 2.30 | -14.5 | 0 | 38.55 | -1.91 | 0 | 12.13 | -10.15 | 0 | 12.33 | -15.14 | 0 | 9.64 | -14.84 | 0 | 6.32 | -22.83 | 0 | 3.41 | -22.32 | 0 | 0.34 | -10.53 | 0 | 23.00 | -7.85 | 0 | 84.11 | -12.59 | 0 | 98.28 | 5.4 | 0 | 1.72 | -76.21 | 0 | 22.77 | 16.47 | 0 |
| 20Q4 (5) | 2.69 | -6.27 | 0 | 39.30 | -0.56 | 0 | 13.50 | -8.85 | 0 | 14.53 | -14.63 | 0 | 11.32 | -13.26 | 0 | 8.19 | -15.91 | 0 | 4.39 | -14.76 | 0 | 0.38 | -2.56 | 0 | 24.96 | -8.54 | 0 | 96.22 | 11.52 | 0 | 93.24 | 7.03 | 0 | 7.25 | -43.78 | 0 | 19.55 | -6.64 | 0 |
| 20Q3 (4) | 2.87 | 15.26 | 0.0 | 39.52 | 0.76 | 0.0 | 14.81 | 1.3 | 0.0 | 17.02 | 8.2 | 0.0 | 13.05 | 7.05 | 0.0 | 9.74 | 11.31 | 0.0 | 5.15 | 13.69 | 0.0 | 0.39 | 8.33 | 0.0 | 27.29 | 2.56 | 0.0 | 86.28 | -13.92 | 0.0 | 87.11 | -6.08 | 0.0 | 12.89 | 77.68 | 0.0 | 20.94 | -3.55 | 0.0 |
| 20Q2 (3) | 2.49 | 0 | 0.0 | 39.22 | 0 | 0.0 | 14.62 | 0 | 0.0 | 15.73 | 0 | 0.0 | 12.19 | 0 | 0.0 | 8.75 | 0 | 0.0 | 4.53 | 0 | 0.0 | 0.36 | 0 | 0.0 | 26.61 | 0 | 0.0 | 100.23 | 0 | 0.0 | 92.75 | 0 | 0.0 | 7.25 | 0 | 0.0 | 21.71 | 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) | 8.35 | -16.5 | 34.78 | -6.38 | 9.11 | -21.4 | 9.32 | -3.27 | 9.23 | -24.65 | 7.33 | -22.76 | 15.79 | -21.72 | 9.36 | -21.67 | 1.22 | 0.0 | 19.05 | -14.8 | 79.21 | 6.84 | 98.67 | 4.31 | 1.33 | -75.43 | 0.31 | 12.56 | 20.07 | -4.97 |
| 2022 (9) | 10.00 | 14.42 | 37.15 | -0.91 | 11.59 | 5.65 | 9.63 | -3.09 | 12.25 | 8.02 | 9.49 | 7.47 | 20.17 | -1.8 | 11.95 | 3.46 | 1.22 | -3.94 | 22.36 | 3.04 | 74.14 | -1.68 | 94.60 | -2.07 | 5.40 | 65.99 | 0.27 | 142.09 | 21.12 | 2.92 |
| 2021 (8) | 8.74 | -17.16 | 37.49 | -5.06 | 10.97 | -25.42 | 9.94 | -2.21 | 11.34 | -27.91 | 8.83 | -27.74 | 20.54 | -40.74 | 11.55 | -34.23 | 1.27 | -9.29 | 21.70 | -17.52 | 75.41 | -21.63 | 96.60 | 3.31 | 3.25 | -49.89 | 0.11 | -23.07 | 20.52 | -0.44 |
| 2020 (7) | 10.55 | 30.41 | 39.49 | -0.55 | 14.71 | 4.85 | 10.17 | 4.76 | 15.73 | 21.19 | 12.22 | 21.71 | 34.66 | 12.17 | 17.56 | 0.34 | 1.40 | -17.16 | 26.31 | 13.85 | 96.22 | -12.54 | 93.50 | -13.53 | 6.50 | 0 | 0.15 | 0 | 20.61 | -3.42 |
| 2019 (6) | 8.09 | -0.98 | 39.71 | -5.63 | 14.03 | 0.43 | 9.70 | 223.28 | 12.98 | -6.89 | 10.04 | -8.73 | 30.90 | -2.22 | 17.50 | -17.1 | 1.69 | -11.52 | 23.11 | 35.54 | 110.01 | 101.63 | 108.13 | 7.96 | -8.13 | 0 | 0.00 | 0 | 21.34 | 1.43 |
| 2018 (5) | 8.17 | 21.22 | 42.08 | 0.84 | 13.97 | 15.74 | 3.00 | 5.39 | 13.94 | 14.17 | 11.00 | 13.75 | 31.60 | 9.61 | 21.11 | 5.71 | 1.91 | -7.28 | 17.05 | 12.62 | 54.56 | 18.12 | 100.16 | 1.14 | -0.16 | 0 | 0.00 | 0 | 21.04 | 2.73 |
| 2017 (4) | 6.74 | -11.43 | 41.73 | 4.22 | 12.07 | -6.87 | 2.85 | 29.92 | 12.21 | -7.08 | 9.67 | -5.75 | 28.83 | -12.0 | 19.97 | -13.51 | 2.06 | -8.44 | 15.14 | -1.5 | 46.19 | 7.69 | 99.03 | 0.44 | 1.17 | -16.95 | 0.00 | 0 | 20.48 | 4.01 |
| 2016 (3) | 7.61 | 15.3 | 40.04 | 0.65 | 12.96 | 1.33 | 2.19 | -27.54 | 13.14 | -2.38 | 10.26 | -8.23 | 32.76 | 0 | 23.09 | 0 | 2.25 | 0 | 15.37 | -7.63 | 42.89 | 5.17 | 98.59 | 3.72 | 1.41 | -71.57 | 0.00 | 0 | 19.69 | -3.34 |
| 2015 (2) | 6.60 | 0 | 39.78 | 0 | 12.79 | 0 | 3.03 | 0 | 13.46 | 0 | 11.18 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 16.64 | 0 | 40.78 | 0 | 95.06 | 0 | 4.94 | 0 | 0.00 | 0 | 20.37 | 0 |
