- 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) | 6.02 | 18.5 | 61.83 | 23.50 | 2.09 | 8.49 | 16.30 | 10.73 | 22.1 | 17.98 | 0.95 | 27.7 | 13.64 | 4.04 | 35.59 | 8.85 | 8.72 | 20.41 | 3.24 | 10.2 | 23.19 | 0.23 | 4.55 | -8.0 | 21.85 | -0.86 | 21.25 | 184.94 | 2.82 | -3.72 | 90.67 | 9.64 | -4.38 | 9.33 | -46.07 | 80.2 | 14.36 | -2.25 | 2.57 |
| 24Q2 (19) | 5.08 | 24.51 | 59.75 | 23.02 | 4.49 | 14.47 | 14.72 | 16.46 | 41.4 | 17.81 | 17.02 | 41.13 | 13.11 | 14.7 | 44.86 | 8.14 | 18.83 | 16.12 | 2.94 | 17.6 | 24.58 | 0.22 | 4.76 | -12.0 | 22.04 | 12.91 | 33.9 | 179.87 | -8.44 | -8.85 | 82.69 | -0.43 | 0.33 | 17.31 | 2.1 | -1.55 | 14.69 | -6.13 | 0.75 |
| 24Q1 (18) | 4.08 | -8.11 | 43.16 | 22.03 | 1.06 | 11.6 | 12.64 | -12.53 | 10.59 | 15.22 | 2.15 | 25.37 | 11.43 | 5.25 | 26.58 | 6.85 | -8.54 | 13.22 | 2.50 | -9.42 | 30.21 | 0.21 | -12.5 | 5.0 | 19.52 | 4.22 | 15.91 | 196.45 | 10.82 | -17.53 | 83.05 | -14.37 | -11.73 | 16.95 | 463.06 | 186.6 | 15.65 | 26.01 | -0.89 |
| 23Q4 (17) | 4.44 | 19.35 | 45.1 | 21.80 | 0.65 | 15.28 | 14.45 | 8.24 | 26.64 | 14.90 | 5.82 | 30.13 | 10.86 | 7.95 | 33.42 | 7.49 | 1.9 | 5.79 | 2.76 | 4.94 | 30.81 | 0.24 | -4.0 | 0.0 | 18.73 | 3.94 | 24.04 | 177.27 | -7.72 | -28.26 | 96.99 | 2.29 | -2.67 | 3.01 | -41.88 | 749.06 | 12.42 | -11.29 | -0.64 |
| 23Q3 (16) | 3.72 | 16.98 | 5.98 | 21.66 | 7.71 | 6.75 | 13.35 | 28.24 | 13.14 | 14.08 | 11.57 | 10.78 | 10.06 | 11.16 | 12.03 | 7.35 | 4.85 | -13.73 | 2.63 | 11.44 | 13.85 | 0.25 | 0.0 | 0.0 | 18.02 | 9.48 | 11.65 | 192.09 | -2.66 | -28.95 | 94.82 | 15.05 | 2.11 | 5.18 | -70.54 | -27.44 | 14.00 | -3.98 | -1.89 |
| 23Q2 (15) | 3.18 | 11.58 | 2.58 | 20.11 | 1.87 | 0.05 | 10.41 | -8.92 | -6.22 | 12.62 | 3.95 | 3.53 | 9.05 | 0.22 | 3.9 | 7.01 | 15.87 | -15.64 | 2.36 | 22.92 | 8.76 | 0.25 | 25.0 | 4.17 | 16.46 | -2.26 | 5.18 | 197.33 | -17.16 | -34.2 | 82.42 | -12.4 | -9.49 | 17.58 | 197.23 | 96.68 | 14.58 | -7.66 | -19.22 |
| 23Q1 (14) | 2.85 | -6.86 | 35.07 | 19.74 | 4.39 | 9.54 | 11.43 | 0.18 | 7.73 | 12.14 | 6.03 | 24.51 | 9.03 | 10.93 | 29.18 | 6.05 | -14.55 | -3.35 | 1.92 | -9.0 | 10.98 | 0.20 | -16.67 | -16.67 | 16.84 | 11.52 | 25.58 | 238.20 | -3.6 | -18.19 | 94.08 | -5.58 | -13.52 | 5.92 | 1568.06 | 167.26 | 15.79 | 26.32 | -9.2 |
| 22Q4 (13) | 3.06 | -12.82 | 52.24 | 18.91 | -6.8 | 1.61 | 11.41 | -3.31 | -0.78 | 11.45 | -9.91 | 22.99 | 8.14 | -9.35 | 25.23 | 7.08 | -16.9 | 21.44 | 2.11 | -8.66 | 25.6 | 0.24 | -4.0 | -4.0 | 15.10 | -6.44 | 16.33 | 247.09 | -8.61 | -5.38 | 99.65 | 7.31 | -19.3 | 0.35 | -95.03 | 101.51 | 12.50 | -12.4 | -25.19 |
| 22Q3 (12) | 3.51 | 13.23 | 45.04 | 20.29 | 0.95 | 11.85 | 11.80 | 6.31 | 14.79 | 12.71 | 4.27 | 8.45 | 8.98 | 3.1 | 11.41 | 8.52 | 2.53 | 14.06 | 2.31 | 6.45 | 8.45 | 0.25 | 4.17 | -3.85 | 16.14 | 3.13 | 5.01 | 270.37 | -9.85 | 4.95 | 92.86 | 1.98 | 5.83 | 7.14 | -20.14 | -41.75 | 14.27 | -20.94 | -8.11 |
| 22Q2 (11) | 3.10 | 46.92 | 37.78 | 20.10 | 11.54 | 10.93 | 11.10 | 4.62 | 4.23 | 12.19 | 25.03 | 14.68 | 8.71 | 24.61 | 16.6 | 8.31 | 32.75 | 0.73 | 2.17 | 25.43 | -3.98 | 0.24 | 0.0 | -17.24 | 15.65 | 16.7 | 11.95 | 299.90 | 3.0 | 13.03 | 91.06 | -16.3 | -9.01 | 8.94 | 201.64 | 12221.57 | 18.05 | 3.8 | 15.56 |
| 22Q1 (10) | 2.11 | 4.98 | 37.91 | 18.02 | -3.17 | 14.56 | 10.61 | -7.74 | 31.31 | 9.75 | 4.73 | 15.38 | 6.99 | 7.54 | 16.89 | 6.26 | 7.38 | 9.25 | 1.73 | 2.98 | 10.19 | 0.24 | -4.0 | -4.0 | 13.41 | 3.31 | 8.15 | 291.16 | 11.5 | 0.18 | 108.79 | -11.89 | 13.88 | -8.79 | 62.55 | -297.0 | 17.39 | 4.07 | 1.87 |
| 21Q4 (9) | 2.01 | -16.94 | 37.67 | 18.61 | 2.59 | 4.9 | 11.50 | 11.87 | 14.2 | 9.31 | -20.56 | 19.51 | 6.50 | -19.35 | 15.66 | 5.83 | -21.95 | 6.78 | 1.68 | -21.13 | 9.09 | 0.25 | -3.85 | -3.85 | 12.98 | -15.55 | 14.36 | 261.13 | 1.37 | -4.23 | 123.48 | 40.73 | -4.48 | -23.48 | -291.61 | 19.77 | 16.71 | 7.6 | 1.4 |
| 21Q3 (8) | 2.42 | 7.56 | 33.7 | 18.14 | 0.11 | 0.55 | 10.28 | -3.47 | 6.09 | 11.72 | 10.25 | 27.67 | 8.06 | 7.9 | 22.31 | 7.47 | -9.45 | 12.5 | 2.13 | -5.75 | 16.39 | 0.26 | -10.34 | 0.0 | 15.37 | 9.94 | 21.5 | 257.61 | -2.91 | -4.94 | 87.74 | -12.32 | -16.94 | 12.26 | 16718.13 | 317.3 | 15.53 | -0.58 | 5.0 |
| 21Q2 (7) | 2.25 | 47.06 | 39.75 | 18.12 | 15.19 | 26.54 | 10.65 | 31.81 | 29.88 | 10.63 | 25.8 | 42.49 | 7.47 | 24.92 | 39.89 | 8.25 | 43.98 | 26.53 | 2.26 | 43.95 | 26.26 | 0.29 | 16.0 | -9.38 | 13.98 | 12.74 | 34.42 | 265.32 | -8.71 | -8.79 | 100.07 | 4.75 | -8.97 | -0.07 | -101.65 | 99.26 | 15.62 | -8.49 | 0 |
| 21Q1 (6) | 1.53 | 4.79 | 178.18 | 15.73 | -11.33 | 32.41 | 8.08 | -19.76 | 134.2 | 8.45 | 8.47 | 94.7 | 5.98 | 6.41 | 123.13 | 5.73 | 4.95 | 167.76 | 1.57 | 1.95 | 124.29 | 0.25 | -3.85 | 19.05 | 12.40 | 9.25 | 35.96 | 290.63 | 6.59 | 2.94 | 95.54 | -26.1 | 20.35 | 4.46 | 115.25 | -78.34 | 17.07 | 3.58 | -8.28 |
| 20Q4 (5) | 1.46 | -19.34 | 78.05 | 17.74 | -1.66 | 29.02 | 10.07 | 3.92 | 96.3 | 7.79 | -15.14 | 59.96 | 5.62 | -14.72 | 90.51 | 5.46 | -17.77 | 66.46 | 1.54 | -15.85 | 50.98 | 0.26 | 0.0 | -13.33 | 11.35 | -10.28 | 35.6 | 272.66 | 0.61 | -2.95 | 129.27 | 22.37 | 22.85 | -29.27 | -418.95 | -460.6 | 16.48 | 11.43 | 8.99 |
| 20Q3 (4) | 1.81 | 12.42 | 0.0 | 18.04 | 25.98 | 0.0 | 9.69 | 18.17 | 0.0 | 9.18 | 23.06 | 0.0 | 6.59 | 23.41 | 0.0 | 6.64 | 1.84 | 0.0 | 1.83 | 2.23 | 0.0 | 0.26 | -18.75 | 0.0 | 12.65 | 21.63 | 0.0 | 271.01 | -6.84 | 0.0 | 105.64 | -3.9 | 0.0 | -5.64 | 43.21 | 0.0 | 14.79 | 0 | 0.0 |
| 20Q2 (3) | 1.61 | 192.73 | 0.0 | 14.32 | 20.54 | 0.0 | 8.20 | 137.68 | 0.0 | 7.46 | 71.89 | 0.0 | 5.34 | 99.25 | 0.0 | 6.52 | 204.67 | 0.0 | 1.79 | 155.71 | 0.0 | 0.32 | 52.38 | 0.0 | 10.40 | 14.04 | 0.0 | 290.90 | 3.04 | 0.0 | 109.93 | 38.48 | 0.0 | -9.93 | -148.17 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.55 | -32.93 | 0.0 | 11.88 | -13.6 | 0.0 | 3.45 | -32.75 | 0.0 | 4.34 | -10.88 | 0.0 | 2.68 | -9.15 | 0.0 | 2.14 | -34.76 | 0.0 | 0.70 | -31.37 | 0.0 | 0.21 | -30.0 | 0.0 | 9.12 | 8.96 | 0.0 | 282.33 | 0.49 | 0.0 | 79.38 | -24.55 | 0.0 | 20.62 | 494.86 | 0.0 | 18.61 | 23.08 | 0.0 |
| 19Q4 (1) | 0.82 | 0.0 | 0.0 | 13.75 | 0.0 | 0.0 | 5.13 | 0.0 | 0.0 | 4.87 | 0.0 | 0.0 | 2.95 | 0.0 | 0.0 | 3.28 | 0.0 | 0.0 | 1.02 | 0.0 | 0.0 | 0.30 | 0.0 | 0.0 | 8.37 | 0.0 | 0.0 | 280.96 | 0.0 | 0.0 | 105.22 | 0.0 | 0.0 | -5.22 | 0.0 | 0.0 | 15.12 | 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) | 14.11 | 19.78 | 20.93 | 8.05 | 12.54 | 11.37 | 3.19 | 7.69 | 13.56 | 17.1 | 9.82 | 19.17 | 26.88 | -8.29 | 9.33 | 7.36 | 0.90 | -10.89 | 17.59 | 16.26 | 177.27 | -28.26 | 92.47 | -4.84 | 7.53 | 166.88 | 0.25 | 11.46 | 14.05 | -8.94 |
| 2022 (9) | 11.78 | 43.48 | 19.37 | 9.31 | 11.26 | 10.39 | 2.96 | -7.54 | 11.58 | 15.0 | 8.24 | 17.05 | 29.31 | 11.66 | 8.69 | 17.12 | 1.01 | -0.98 | 15.13 | 10.36 | 247.09 | -5.38 | 97.18 | -4.01 | 2.82 | 0 | 0.22 | -25.36 | 15.43 | -4.75 |
| 2021 (8) | 8.21 | 51.48 | 17.72 | 12.79 | 10.20 | 23.34 | 3.20 | 7.28 | 10.07 | 36.27 | 7.04 | 34.61 | 26.25 | 30.47 | 7.42 | 29.49 | 1.02 | 0.0 | 13.71 | 24.86 | 261.13 | -4.23 | 101.24 | -9.47 | -1.24 | 0 | 0.30 | -16.75 | 16.20 | 5.74 |
| 2020 (7) | 5.42 | 100.0 | 15.71 | 33.02 | 8.27 | 139.71 | 2.99 | -2.46 | 7.39 | 80.68 | 5.23 | 96.62 | 20.12 | 89.63 | 5.73 | 65.61 | 1.02 | -8.11 | 10.98 | 40.05 | 272.66 | -2.95 | 111.83 | 32.7 | -11.83 | 0 | 0.36 | -10.71 | 15.32 | 4.36 |
| 2019 (6) | 2.71 | 34.83 | 11.81 | -0.42 | 3.45 | 39.68 | 3.06 | 13.7 | 4.09 | 15.21 | 2.66 | 5.98 | 10.61 | 29.71 | 3.46 | 15.33 | 1.11 | 12.12 | 7.84 | 11.84 | 280.96 | 18.34 | 84.27 | 20.84 | 15.73 | -48.02 | 0.40 | -16.29 | 14.68 | -3.67 |
| 2018 (5) | 2.01 | -19.92 | 11.86 | -3.5 | 2.47 | -42.02 | 2.69 | 21.91 | 3.55 | -23.98 | 2.51 | -27.46 | 8.18 | -24.12 | 3.00 | -20.84 | 0.99 | 2.06 | 7.01 | -6.91 | 237.41 | 8.09 | 69.74 | -23.43 | 30.26 | 239.31 | 0.48 | 0 | 15.24 | 9.8 |
| 2017 (4) | 2.51 | 3.29 | 12.29 | -11.84 | 4.26 | -21.4 | 2.21 | -13.75 | 4.67 | -3.31 | 3.46 | -2.54 | 10.78 | -0.55 | 3.79 | -0.52 | 0.97 | 0.0 | 7.53 | -5.52 | 219.65 | -0.61 | 91.08 | -18.75 | 8.92 | 0 | 0.00 | 0 | 13.88 | -4.14 |
| 2016 (3) | 2.43 | 15.71 | 13.94 | 10.63 | 5.42 | 29.36 | 2.56 | -6.17 | 4.83 | 14.73 | 3.55 | 21.99 | 10.84 | 25.03 | 3.81 | 15.11 | 0.97 | -4.9 | 7.97 | 5.84 | 220.99 | 5.91 | 112.10 | 12.73 | -12.10 | 0 | 0.00 | 0 | 14.48 | -0.82 |
| 2015 (2) | 2.10 | 1.94 | 12.60 | 3.45 | 4.19 | 82.17 | 2.73 | -4.01 | 4.21 | 4.73 | 2.91 | -5.83 | 8.67 | -7.27 | 3.31 | -9.07 | 1.02 | -3.77 | 7.53 | 1.35 | 208.66 | 17.06 | 99.45 | 74.03 | 0.55 | -98.71 | 0.00 | 0 | 14.60 | -4.14 |
| 2014 (1) | 2.06 | 194.29 | 12.18 | 0 | 2.30 | 0 | 2.84 | -18.89 | 4.02 | 0 | 3.09 | 0 | 9.35 | 0 | 3.64 | 0 | 1.06 | 2.91 | 7.43 | 26.58 | 178.25 | -8.68 | 57.14 | -35.71 | 42.86 | 276.53 | 0.00 | 0 | 15.23 | 5.69 |
