- 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) | 0.16 | -69.23 | 6.67 | 10.16 | 27.96 | -4.06 | 2.82 | 370.0 | -13.76 | 5.42 | -69.69 | 3.44 | 4.31 | -69.88 | 3.61 | 0.91 | -70.45 | 2.25 | 0.68 | -68.66 | -1.45 | 0.14 | -6.67 | 0.0 | 16.21 | -43.56 | -11.81 | 55.49 | 31.37 | 24.33 | 52.63 | 1540.35 | -16.41 | 47.37 | -51.06 | 27.89 | 18.94 | -6.61 | 7.98 |
| 24Q2 (19) | 0.52 | 271.43 | 246.67 | 7.94 | -31.2 | -24.45 | 0.60 | -82.66 | -84.08 | 17.88 | 262.68 | 252.66 | 14.31 | 262.28 | 254.21 | 3.08 | 266.67 | 238.46 | 2.17 | 214.49 | 223.88 | 0.15 | 0.0 | 0.0 | 28.72 | 61.62 | 65.72 | 42.24 | -6.98 | -21.27 | 3.21 | -95.45 | -95.7 | 96.79 | 229.09 | 280.25 | 20.28 | 9.09 | 17.7 |
| 24Q1 (18) | 0.14 | -6.67 | 27.27 | 11.54 | -22.5 | 5.77 | 3.46 | -47.5 | -6.99 | 4.93 | -9.04 | 31.82 | 3.95 | -8.78 | 31.23 | 0.84 | -7.69 | 27.27 | 0.69 | -8.0 | 35.29 | 0.15 | 0.0 | 0.0 | 17.77 | -6.03 | 16.07 | 45.41 | 16.14 | -19.78 | 70.59 | -41.87 | -29.41 | 29.41 | 237.25 | 0 | 18.59 | 11.25 | -3.53 |
| 23Q4 (17) | 0.15 | 0.0 | -50.0 | 14.89 | 40.6 | -1.33 | 6.59 | 101.53 | -23.37 | 5.42 | 3.44 | -33.74 | 4.33 | 4.09 | -32.03 | 0.91 | 2.25 | -44.51 | 0.75 | 8.7 | -36.44 | 0.15 | 7.14 | -11.76 | 18.91 | 2.88 | 6.3 | 39.10 | -12.39 | -12.45 | 121.43 | 92.86 | 15.15 | -21.43 | -157.86 | -292.86 | 16.71 | -4.73 | -5.49 |
| 23Q3 (16) | 0.15 | 0.0 | -78.57 | 10.59 | 0.76 | -46.57 | 3.27 | -13.26 | -76.59 | 5.24 | 3.35 | -67.95 | 4.16 | 2.97 | -68.2 | 0.89 | -2.2 | -77.58 | 0.69 | 2.99 | -74.16 | 0.14 | -6.67 | -30.0 | 18.38 | 6.06 | -23.92 | 44.63 | -16.81 | -10.6 | 62.96 | -15.54 | -26.54 | 37.04 | 45.5 | 152.25 | 17.54 | 1.8 | 11.15 |
| 23Q2 (15) | 0.15 | 36.36 | -79.73 | 10.51 | -3.67 | -47.97 | 3.77 | 1.34 | -75.79 | 5.07 | 35.56 | -70.47 | 4.04 | 34.22 | -70.6 | 0.91 | 37.88 | -79.55 | 0.67 | 31.37 | -76.24 | 0.15 | 0.0 | -25.0 | 17.33 | 13.19 | -29.87 | 53.65 | -5.23 | -6.03 | 74.55 | -25.45 | -17.97 | 25.45 | 0 | 167.78 | 17.23 | -10.59 | 9.75 |
| 23Q1 (14) | 0.11 | -63.33 | -82.81 | 10.91 | -27.7 | -43.12 | 3.72 | -56.74 | -74.43 | 3.74 | -54.28 | -75.9 | 3.01 | -52.75 | -75.75 | 0.66 | -59.76 | -83.58 | 0.51 | -56.78 | -80.68 | 0.15 | -11.76 | -28.57 | 15.31 | -13.94 | -33.67 | 56.61 | 26.76 | -13.32 | 100.00 | -5.17 | 7.01 | 0.00 | 100.0 | -100.0 | 19.27 | 8.99 | 31.54 |
| 22Q4 (13) | 0.30 | -57.14 | -26.83 | 15.09 | -23.86 | -5.33 | 8.60 | -38.44 | -18.41 | 8.18 | -49.97 | -25.23 | 6.37 | -51.3 | -24.88 | 1.64 | -58.69 | -35.43 | 1.18 | -55.81 | -33.33 | 0.17 | -15.0 | -15.0 | 17.79 | -26.37 | -10.33 | 44.66 | -10.54 | 2.76 | 105.45 | 23.03 | 9.17 | -5.45 | -137.15 | -260.36 | 17.68 | 12.04 | 24.16 |
| 22Q3 (12) | 0.70 | -5.41 | 52.17 | 19.82 | -1.88 | 20.63 | 13.97 | -10.28 | 23.85 | 16.35 | -4.78 | 37.05 | 13.08 | -4.8 | 37.25 | 3.97 | -10.79 | 32.33 | 2.67 | -5.32 | 30.88 | 0.20 | 0.0 | -4.76 | 24.16 | -2.23 | 15.49 | 49.92 | -12.56 | 0.87 | 85.71 | -5.68 | -9.21 | 14.68 | 54.46 | 162.65 | 15.78 | 0.51 | 21.29 |
| 22Q2 (11) | 0.74 | 15.62 | 124.24 | 20.20 | 5.32 | 41.56 | 15.57 | 7.01 | 69.61 | 17.17 | 10.63 | 83.44 | 13.74 | 10.72 | 83.44 | 4.45 | 10.7 | 97.78 | 2.82 | 6.82 | 84.31 | 0.20 | -4.76 | 0.0 | 24.71 | 7.06 | 28.76 | 57.09 | -12.59 | 11.29 | 90.87 | -2.76 | -6.71 | 9.51 | 55.49 | 451.33 | 15.70 | 7.17 | 20.12 |
| 22Q1 (10) | 0.64 | 56.1 | 300.0 | 19.18 | 20.33 | 87.3 | 14.55 | 38.05 | 184.74 | 15.52 | 41.86 | 203.72 | 12.41 | 46.34 | 203.42 | 4.02 | 58.27 | 255.75 | 2.64 | 49.15 | 230.0 | 0.21 | 5.0 | 16.67 | 23.08 | 16.33 | 45.43 | 65.31 | 50.28 | 24.49 | 93.45 | -3.26 | -6.55 | 6.11 | 79.74 | 0 | 14.65 | 2.88 | 4.94 |
| 21Q4 (9) | 0.41 | -10.87 | 1266.67 | 15.94 | -2.98 | 157.1 | 10.54 | -6.56 | 1169.88 | 10.94 | -8.3 | 1754.24 | 8.48 | -11.02 | 842.22 | 2.54 | -15.33 | 1004.35 | 1.77 | -13.24 | 742.86 | 0.20 | -4.76 | 11.11 | 19.84 | -5.16 | 61.83 | 43.46 | -12.18 | -8.43 | 96.60 | 2.32 | -35.6 | 3.40 | -39.15 | 110.2 | 14.24 | 9.45 | 9.37 |
| 21Q3 (8) | 0.46 | 39.39 | 560.0 | 16.43 | 15.14 | 534.36 | 11.28 | 22.88 | 433.73 | 11.93 | 27.46 | 424.18 | 9.53 | 27.24 | 423.05 | 3.00 | 33.33 | 522.54 | 2.04 | 33.33 | 585.71 | 0.21 | 5.0 | 31.25 | 20.92 | 9.02 | 129.13 | 49.49 | -3.53 | 6.71 | 94.41 | -3.08 | 3.26 | 5.59 | 224.22 | -34.78 | 13.01 | -0.46 | -12.15 |
| 21Q2 (7) | 0.33 | 106.25 | 312.5 | 14.27 | 39.36 | 69.88 | 9.18 | 79.65 | 232.61 | 9.36 | 83.17 | 257.25 | 7.49 | 83.13 | 256.67 | 2.25 | 99.12 | 294.74 | 1.53 | 91.25 | 255.81 | 0.20 | 11.11 | 17.65 | 19.19 | 20.92 | 33.91 | 51.30 | -2.21 | -1.31 | 97.41 | -2.59 | -9.3 | 1.72 | 0 | 146.55 | 13.07 | -6.38 | -9.74 |
| 21Q1 (6) | 0.16 | 433.33 | 100.0 | 10.24 | 65.16 | 53.06 | 5.11 | 515.66 | 724.19 | 5.11 | 766.1 | 139.91 | 4.09 | 354.44 | 82.59 | 1.13 | 391.3 | 91.53 | 0.80 | 280.95 | 73.91 | 0.18 | 0.0 | 5.88 | 15.87 | 29.45 | 10.52 | 52.46 | 10.54 | -13.93 | 100.00 | -33.33 | 250.0 | 0.00 | 100.0 | -100.0 | 13.96 | 7.22 | -9.06 |
| 20Q4 (5) | 0.03 | 130.0 | 142.86 | 6.20 | 139.38 | 82.89 | 0.83 | 124.56 | 129.75 | 0.59 | 116.03 | 117.99 | 0.90 | 130.51 | 142.06 | 0.23 | 132.39 | 143.4 | 0.21 | 150.0 | 163.64 | 0.18 | 12.5 | 12.5 | 12.26 | 34.28 | 55.39 | 47.46 | 2.33 | -17.69 | 150.00 | 64.06 | 72.22 | -33.33 | -488.89 | -306.67 | 13.02 | -12.09 | -7.73 |
| 20Q3 (4) | -0.10 | -225.0 | 0.0 | 2.59 | -69.17 | 0.0 | -3.38 | -222.46 | 0.0 | -3.68 | -240.46 | 0.0 | -2.95 | -240.48 | 0.0 | -0.71 | -224.56 | 0.0 | -0.42 | -197.67 | 0.0 | 0.16 | -5.88 | 0.0 | 9.13 | -36.29 | 0.0 | 46.38 | -10.77 | 0.0 | 91.43 | -14.88 | 0.0 | 8.57 | 331.43 | 0.0 | 14.81 | 2.28 | 0.0 |
| 20Q2 (3) | 0.08 | 0.0 | 0.0 | 8.40 | 25.56 | 0.0 | 2.76 | 345.16 | 0.0 | 2.62 | 23.0 | 0.0 | 2.10 | -6.25 | 0.0 | 0.57 | -3.39 | 0.0 | 0.43 | -6.52 | 0.0 | 0.17 | 0.0 | 0.0 | 14.33 | -0.21 | 0.0 | 51.98 | -14.72 | 0.0 | 107.41 | 275.93 | 0.0 | -3.70 | -105.19 | 0.0 | 14.48 | -5.67 | 0.0 |
| 20Q1 (2) | 0.08 | 214.29 | 0.0 | 6.69 | 97.35 | 0.0 | 0.62 | 122.22 | 0.0 | 2.13 | 164.94 | 0.0 | 2.24 | 204.67 | 0.0 | 0.59 | 211.32 | 0.0 | 0.46 | 239.39 | 0.0 | 0.17 | 6.25 | 0.0 | 14.36 | 82.0 | 0.0 | 60.95 | 5.71 | 0.0 | 28.57 | -67.2 | 0.0 | 71.43 | 342.86 | 0.0 | 15.35 | 8.79 | 0.0 |
| 19Q4 (1) | -0.07 | 0.0 | 0.0 | 3.39 | 0.0 | 0.0 | -2.79 | 0.0 | 0.0 | -3.28 | 0.0 | 0.0 | -2.14 | 0.0 | 0.0 | -0.53 | 0.0 | 0.0 | -0.33 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 7.89 | 0.0 | 0.0 | 57.66 | 0.0 | 0.0 | 87.10 | 0.0 | 0.0 | 16.13 | 0.0 | 0.0 | 14.11 | 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) | 0.57 | -76.05 | 11.70 | -37.37 | 4.32 | -67.52 | 11.80 | 53.7 | 4.85 | -66.53 | 3.87 | -66.49 | 3.22 | -76.56 | 2.62 | -73.21 | 0.58 | -30.12 | 17.47 | -22.66 | 39.10 | -12.45 | 88.83 | -3.24 | 11.17 | 36.37 | 0.82 | 19.0 | 17.71 | 11.31 |
| 2022 (9) | 2.38 | 76.3 | 18.68 | 29.72 | 13.30 | 44.57 | 7.68 | -17.09 | 14.49 | 52.05 | 11.55 | 52.98 | 13.74 | 56.31 | 9.78 | 57.49 | 0.83 | 3.75 | 22.59 | 18.27 | 44.66 | 2.76 | 91.81 | -4.82 | 8.19 | 131.65 | 0.69 | -13.79 | 15.91 | 17.33 |
| 2021 (8) | 1.35 | 1400.0 | 14.40 | 138.41 | 9.20 | 3185.71 | 9.26 | -19.56 | 9.53 | 1844.9 | 7.55 | 1079.69 | 8.79 | 1252.31 | 6.21 | 813.24 | 0.80 | 19.4 | 19.10 | 51.83 | 43.46 | -8.43 | 96.47 | 75.39 | 3.53 | -91.16 | 0.80 | -13.08 | 13.56 | -5.83 |
| 2020 (7) | 0.09 | 125.0 | 6.04 | -5.18 | 0.28 | 64.71 | 11.51 | 9.05 | 0.49 | 81.48 | 0.64 | 137.04 | 0.65 | 140.74 | 0.68 | 65.85 | 0.67 | 4.69 | 12.58 | 9.97 | 47.46 | -17.69 | 55.00 | -8.33 | 40.00 | 0.0 | 0.92 | -5.9 | 14.40 | -2.64 |
| 2019 (6) | 0.04 | -97.45 | 6.37 | -62.57 | 0.17 | -98.46 | 10.56 | 64.13 | 0.27 | -97.69 | 0.27 | -97.16 | 0.27 | -97.62 | 0.41 | -94.93 | 0.64 | -23.81 | 11.44 | -38.1 | 57.66 | 19.73 | 60.00 | -36.39 | 40.00 | 605.33 | 0.98 | -8.0 | 14.79 | 0.48 |
| 2018 (5) | 1.57 | 112.16 | 17.02 | 22.71 | 11.04 | 66.77 | 6.43 | 14.99 | 11.70 | 84.54 | 9.51 | 76.44 | 11.36 | 95.86 | 8.08 | 82.39 | 0.84 | 3.7 | 18.48 | 50.37 | 48.16 | 31.98 | 94.33 | -9.51 | 5.67 | 0 | 1.06 | 0 | 14.72 | -14.91 |
| 2017 (4) | 0.74 | 825.0 | 13.87 | 53.6 | 6.62 | 575.51 | 5.59 | -29.67 | 6.34 | 266.47 | 5.39 | 648.61 | 5.80 | 485.86 | 4.43 | 460.76 | 0.81 | -19.0 | 12.29 | 22.05 | 36.49 | 24.41 | 104.25 | 85.32 | -4.25 | 0 | 0.00 | 0 | 17.30 | -4.0 |
| 2016 (3) | 0.08 | -68.0 | 9.03 | -2.06 | 0.98 | -2.97 | 7.95 | 31.89 | 1.73 | 20.14 | 0.72 | -40.0 | 0.99 | -48.44 | 0.79 | -45.89 | 1.00 | -15.25 | 10.07 | 32.85 | 29.33 | -45.96 | 56.25 | -21.25 | 43.75 | 53.13 | 0.00 | 0 | 18.02 | -9.76 |
| 2015 (2) | 0.25 | 38.89 | 9.22 | -13.99 | 1.01 | 0 | 6.03 | -40.9 | 1.44 | -29.06 | 1.20 | -36.17 | 1.92 | 21.52 | 1.46 | -5.81 | 1.18 | 76.12 | 7.58 | -41.38 | 54.27 | 299.34 | 71.43 | 0 | 28.57 | -74.29 | 0.00 | 0 | 19.97 | 34.39 |
| 2014 (1) | 0.18 | 0 | 10.72 | 0 | -0.26 | 0 | 10.20 | -10.66 | 2.03 | 0 | 1.88 | 0 | 1.58 | 0 | 1.55 | 0 | 0.67 | 17.54 | 12.93 | 36.39 | 13.59 | -64.15 | -11.11 | 0 | 111.11 | 92.59 | 0.00 | 0 | 14.86 | -1.33 |
