- 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) | 3.08 | 22.71 | 5.12 | 56.28 | -0.97 | 7.14 | 30.70 | 6.04 | 9.25 | 33.06 | 3.73 | 1.41 | 26.61 | 6.27 | 1.06 | 8.05 | 26.18 | -1.83 | 5.74 | 23.71 | -3.2 | 0.22 | 15.79 | 0.0 | 34.19 | 3.32 | 2.06 | 29.75 | -42.7 | 1.85 | 92.86 | 2.18 | 7.78 | 7.14 | -21.73 | -48.41 | 20.28 | -3.15 | 5.57 |
| 24Q2 (19) | 2.51 | 2.45 | -7.72 | 56.83 | 5.85 | 2.9 | 28.95 | 6.04 | -6.4 | 31.87 | 9.33 | -1.39 | 25.04 | -4.1 | -2.03 | 6.38 | 6.87 | -16.27 | 4.64 | -1.69 | -17.73 | 0.19 | 5.56 | -13.64 | 33.09 | 8.78 | -0.51 | 51.92 | 104.65 | 7.12 | 90.87 | -2.97 | -5.0 | 9.13 | 43.74 | 110.28 | 20.94 | 0.0 | 8.78 |
| 24Q1 (18) | 2.45 | 17.22 | 15.57 | 53.69 | -2.68 | -3.68 | 27.30 | 15.73 | -6.83 | 29.15 | 4.63 | -0.44 | 26.11 | 12.69 | 0.89 | 5.97 | 10.76 | -0.83 | 4.72 | 12.38 | -3.28 | 0.18 | 0.0 | -5.26 | 30.42 | 4.54 | 0.2 | 25.37 | -8.81 | 9.26 | 93.65 | 10.63 | -6.35 | 6.35 | -58.63 | 0 | 20.94 | -9.23 | -2.7 |
| 23Q4 (17) | 2.09 | -28.67 | 63.28 | 55.17 | 5.03 | 4.55 | 23.59 | -16.05 | 2.03 | 27.86 | -14.54 | 22.84 | 23.17 | -12.0 | 28.44 | 5.39 | -34.27 | 37.15 | 4.20 | -29.17 | 32.08 | 0.18 | -18.18 | 0.0 | 29.10 | -13.13 | 21.25 | 27.82 | -4.76 | 16.01 | 84.65 | -1.74 | -16.94 | 15.35 | 10.84 | 898.02 | 23.07 | 20.09 | 12.43 |
| 23Q3 (16) | 2.93 | 7.72 | 51.81 | 52.53 | -4.89 | 6.51 | 28.10 | -9.15 | 22.49 | 32.60 | 0.87 | 2.13 | 26.33 | 3.01 | -8.42 | 8.20 | 7.61 | 33.33 | 5.93 | 5.14 | 39.53 | 0.22 | 0.0 | 46.67 | 33.50 | 0.72 | 0.51 | 29.21 | -39.74 | 22.89 | 86.15 | -9.94 | 19.72 | 13.85 | 219.04 | -50.61 | 19.21 | -0.21 | 6.13 |
| 23Q2 (15) | 2.72 | 28.3 | 48.63 | 55.23 | -0.91 | 3.16 | 30.93 | 5.56 | 12.02 | 32.32 | 10.38 | 16.3 | 25.56 | -1.24 | 18.88 | 7.62 | 26.58 | 46.54 | 5.64 | 15.57 | 61.6 | 0.22 | 15.79 | 37.5 | 33.26 | 9.55 | 15.53 | 48.47 | 108.74 | -27.46 | 95.66 | -4.34 | -3.84 | 4.34 | 0 | 726.76 | 19.25 | -10.55 | -6.96 |
| 23Q1 (14) | 2.12 | 65.62 | -15.54 | 55.74 | 5.63 | 5.35 | 29.30 | 26.73 | 2.99 | 29.28 | 29.1 | -0.71 | 25.88 | 43.46 | 3.03 | 6.02 | 53.18 | -6.08 | 4.88 | 53.46 | 4.05 | 0.19 | 5.56 | 0.0 | 30.36 | 26.5 | 0.23 | 23.22 | -3.17 | -34.5 | 100.00 | -1.89 | 3.71 | 0.00 | 100.0 | -100.0 | 21.52 | 4.87 | 8.63 |
| 22Q4 (13) | 1.28 | -33.68 | -49.61 | 52.77 | 7.0 | 2.77 | 23.12 | 0.78 | -15.68 | 22.68 | -28.95 | -22.96 | 18.04 | -37.25 | -24.58 | 3.93 | -36.1 | -43.13 | 3.18 | -25.18 | -36.14 | 0.18 | 20.0 | -14.29 | 24.00 | -27.99 | -20.87 | 23.98 | 0.88 | -36.86 | 101.92 | 41.63 | 9.53 | -1.92 | -106.86 | -127.69 | 20.52 | 13.37 | 4.69 |
| 22Q3 (12) | 1.93 | 5.46 | -44.22 | 49.32 | -7.88 | -8.21 | 22.94 | -16.91 | -27.54 | 31.92 | 14.86 | -3.24 | 28.75 | 33.72 | 9.48 | 6.15 | 18.27 | -37.12 | 4.25 | 21.78 | -39.89 | 0.15 | -6.25 | -44.44 | 33.33 | 15.77 | -1.13 | 23.77 | -64.43 | -40.71 | 71.97 | -27.65 | -24.92 | 28.03 | 5240.61 | 600.87 | 18.10 | -12.52 | -1.9 |
| 22Q2 (11) | 1.83 | -27.09 | -36.68 | 53.54 | 1.19 | -1.18 | 27.61 | -2.95 | -9.21 | 27.79 | -5.76 | -11.38 | 21.50 | -14.41 | -15.35 | 5.20 | -18.88 | -37.87 | 3.49 | -25.59 | -43.53 | 0.16 | -15.79 | -33.33 | 28.79 | -4.95 | -10.95 | 66.82 | 88.49 | 81.77 | 99.48 | 3.17 | 2.51 | 0.52 | -85.33 | -82.28 | 20.69 | 4.44 | 7.82 |
| 22Q1 (10) | 2.51 | -1.18 | 7.73 | 52.91 | 3.04 | 4.13 | 28.45 | 3.76 | 8.5 | 29.49 | 0.17 | 4.5 | 25.12 | 5.02 | 2.03 | 6.41 | -7.24 | -13.5 | 4.69 | -5.82 | -15.04 | 0.19 | -9.52 | -13.64 | 30.29 | -0.13 | 2.92 | 35.45 | -6.66 | 4.57 | 96.42 | 3.62 | 3.91 | 3.58 | -48.46 | -50.36 | 19.81 | 1.07 | -5.62 |
| 21Q4 (9) | 2.54 | -26.59 | 68.21 | 51.35 | -4.43 | 4.77 | 27.42 | -13.39 | 22.9 | 29.44 | -10.76 | 31.9 | 23.92 | -8.91 | 33.71 | 6.91 | -29.35 | 30.13 | 4.98 | -29.56 | 25.76 | 0.21 | -22.22 | -4.55 | 30.33 | -10.03 | 28.3 | 37.98 | -5.26 | 8.83 | 93.06 | -2.92 | -6.94 | 6.94 | 73.61 | 0 | 19.60 | 6.23 | -7.59 |
| 21Q3 (8) | 3.46 | 19.72 | 67.96 | 53.73 | -0.83 | 4.07 | 31.66 | 4.11 | 18.89 | 32.99 | 5.2 | 23.19 | 26.26 | 3.39 | 15.63 | 9.78 | 16.85 | 21.34 | 7.07 | 14.4 | 23.82 | 0.27 | 12.5 | 8.0 | 33.71 | 4.27 | 20.26 | 40.09 | 9.06 | 18.47 | 95.86 | -1.22 | -3.65 | 4.00 | 35.06 | 682.0 | 18.45 | -3.86 | -9.02 |
| 21Q2 (7) | 2.89 | 24.03 | 96.6 | 54.18 | 6.63 | 4.37 | 30.41 | 15.98 | 30.07 | 31.36 | 11.13 | 33.33 | 25.40 | 3.17 | 24.88 | 8.37 | 12.96 | 42.11 | 6.18 | 11.96 | 47.14 | 0.24 | 9.09 | 14.29 | 32.33 | 9.85 | 28.86 | 36.76 | 8.44 | -26.18 | 97.04 | 4.58 | -2.24 | 2.96 | -58.92 | 302.79 | 19.19 | -8.58 | -15.76 |
| 21Q1 (6) | 2.33 | 54.3 | 194.94 | 50.81 | 3.67 | -2.31 | 26.22 | 17.53 | 45.91 | 28.22 | 26.43 | 51.31 | 24.62 | 37.62 | 65.01 | 7.41 | 39.55 | 139.81 | 5.52 | 39.39 | 134.89 | 0.22 | 0.0 | 37.5 | 29.43 | 24.49 | 41.15 | 33.90 | -2.87 | 7.96 | 92.79 | -7.21 | -3.55 | 7.21 | 0 | 89.84 | 20.99 | -1.04 | -23.51 |
| 20Q4 (5) | 1.51 | -26.7 | 77.65 | 49.01 | -5.07 | -4.87 | 22.31 | -16.22 | 22.78 | 22.32 | -16.65 | 29.17 | 17.89 | -21.22 | 30.39 | 5.31 | -34.12 | 56.18 | 3.96 | -30.65 | 52.9 | 0.22 | -12.0 | 15.79 | 23.64 | -15.66 | 23.38 | 34.90 | 3.13 | 6.53 | 100.00 | 0.51 | -4.49 | 0.00 | -100.0 | 100.0 | 21.21 | 4.59 | -5.4 |
| 20Q3 (4) | 2.06 | 40.14 | 0.0 | 51.63 | -0.54 | 0.0 | 26.63 | 13.9 | 0.0 | 26.78 | 13.86 | 0.0 | 22.71 | 11.65 | 0.0 | 8.06 | 36.84 | 0.0 | 5.71 | 35.95 | 0.0 | 0.25 | 19.05 | 0.0 | 28.03 | 11.72 | 0.0 | 33.84 | -32.05 | 0.0 | 99.49 | 0.23 | 0.0 | 0.51 | -30.43 | 0.0 | 20.28 | -10.97 | 0.0 |
| 20Q2 (3) | 1.47 | 86.08 | 0.0 | 51.91 | -0.19 | 0.0 | 23.38 | 30.11 | 0.0 | 23.52 | 26.11 | 0.0 | 20.34 | 36.33 | 0.0 | 5.89 | 90.61 | 0.0 | 4.20 | 78.72 | 0.0 | 0.21 | 31.25 | 0.0 | 25.09 | 20.34 | 0.0 | 49.80 | 58.6 | 0.0 | 99.26 | 3.18 | 0.0 | 0.74 | -80.64 | 0.0 | 22.78 | -16.98 | 0.0 |
| 20Q1 (2) | 0.79 | -7.06 | 0.0 | 52.01 | 0.95 | 0.0 | 17.97 | -1.1 | 0.0 | 18.65 | 7.93 | 0.0 | 14.92 | 8.75 | 0.0 | 3.09 | -9.12 | 0.0 | 2.35 | -9.27 | 0.0 | 0.16 | -15.79 | 0.0 | 20.85 | 8.82 | 0.0 | 31.40 | -4.15 | 0.0 | 96.20 | -8.12 | 0.0 | 3.80 | 171.73 | 0.0 | 27.44 | 22.39 | 0.0 |
| 19Q4 (1) | 0.85 | 0.0 | 0.0 | 51.52 | 0.0 | 0.0 | 18.17 | 0.0 | 0.0 | 17.28 | 0.0 | 0.0 | 13.72 | 0.0 | 0.0 | 3.40 | 0.0 | 0.0 | 2.59 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 19.16 | 0.0 | 0.0 | 32.76 | 0.0 | 0.0 | 104.71 | 0.0 | 0.0 | -5.29 | 0.0 | 0.0 | 22.42 | 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) | 9.86 | 30.42 | 54.55 | 4.3 | 28.08 | 8.38 | 0.81 | -7.93 | 30.73 | 9.55 | 25.30 | 8.3 | 26.90 | 28.59 | 21.35 | 34.02 | 0.84 | 23.53 | 31.76 | 8.99 | 27.82 | 16.01 | 91.39 | -1.1 | 8.61 | 12.33 | 3.38 | -20.24 | 20.60 | 3.83 |
| 2022 (9) | 7.56 | -32.56 | 52.30 | -0.68 | 25.91 | -11.21 | 0.88 | 24.34 | 28.05 | -8.69 | 23.36 | -7.08 | 20.92 | -35.89 | 15.93 | -33.32 | 0.68 | -28.42 | 29.14 | -7.93 | 23.98 | -36.86 | 92.41 | -2.7 | 7.66 | 52.32 | 4.24 | 65.13 | 19.84 | 2.01 |
| 2021 (8) | 11.21 | 92.28 | 52.66 | 3.21 | 29.18 | 26.21 | 0.71 | -16.59 | 30.72 | 31.79 | 25.14 | 29.45 | 32.63 | 54.28 | 23.89 | 51.01 | 0.95 | 17.28 | 31.65 | 27.52 | 37.98 | 8.83 | 94.97 | -4.26 | 5.03 | 464.81 | 2.57 | -27.51 | 19.45 | -13.17 |
| 2020 (7) | 5.83 | 72.49 | 51.02 | -2.91 | 23.12 | 27.24 | 0.85 | -20.03 | 23.31 | 25.73 | 19.42 | 32.29 | 21.15 | 55.29 | 15.82 | 50.95 | 0.81 | 14.08 | 24.82 | 21.13 | 34.90 | 6.53 | 99.20 | 1.28 | 0.89 | -56.75 | 3.55 | -24.61 | 22.40 | -11.88 |
| 2019 (6) | 3.38 | 9.74 | 52.55 | -0.3 | 18.17 | 10.86 | 1.06 | 49.11 | 18.54 | 6.86 | 14.68 | 1.45 | 13.62 | 8.01 | 10.48 | 5.97 | 0.71 | 4.41 | 20.49 | 8.18 | 32.76 | 17.63 | 97.94 | 3.81 | 2.06 | -62.43 | 4.70 | -15.85 | 25.42 | -9.57 |
| 2018 (5) | 3.08 | 24.7 | 52.71 | 3.78 | 16.39 | 5.74 | 0.71 | 19.18 | 17.35 | 19.0 | 14.47 | 18.61 | 12.61 | 24.6 | 9.89 | 22.7 | 0.68 | 3.03 | 18.94 | 18.3 | 27.85 | 3.42 | 94.35 | -11.21 | 5.48 | 0 | 5.59 | 0 | 28.11 | 1.44 |
| 2017 (4) | 2.47 | 3.78 | 50.79 | 1.54 | 15.50 | 10.48 | 0.60 | 4.03 | 14.58 | 4.14 | 12.20 | 4.9 | 10.12 | 4.22 | 8.06 | 3.2 | 0.66 | -1.49 | 16.01 | 3.89 | 26.93 | 12.07 | 106.26 | 6.02 | -6.26 | 0 | 0.00 | 0 | 27.71 | -0.86 |
| 2016 (3) | 2.38 | 8.18 | 50.02 | 2.63 | 14.03 | 2.11 | 0.58 | -6.57 | 14.00 | 3.55 | 11.63 | 6.02 | 9.71 | 6.24 | 7.81 | 6.26 | 0.67 | 0.0 | 15.41 | 2.19 | 24.03 | -3.18 | 100.23 | -1.43 | -0.23 | 0 | 0.00 | 0 | 27.95 | 8.42 |
| 2015 (2) | 2.20 | -8.33 | 48.74 | 6.82 | 13.74 | -5.7 | 0.62 | -39.43 | 13.52 | -1.82 | 10.97 | 2.52 | 9.14 | -10.92 | 7.35 | -10.15 | 0.67 | -11.84 | 15.08 | -3.4 | 24.82 | 4.86 | 101.68 | -3.8 | -1.68 | 0 | 0.00 | 0 | 25.78 | 13.87 |
| 2014 (1) | 2.40 | 96.72 | 45.63 | 0 | 14.57 | 0 | 1.02 | -11.66 | 13.77 | 0 | 10.70 | 0 | 10.26 | 0 | 8.18 | 0 | 0.76 | -1.3 | 15.61 | 36.93 | 23.67 | -14.02 | 105.70 | 26.11 | -5.91 | 0 | 0.00 | 0 | 22.64 | 1.98 |
