- 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) | 1.67 | 16.78 | -39.49 | 35.38 | 2.88 | -10.25 | 14.89 | 16.69 | -10.14 | 19.24 | -13.02 | -42.27 | 15.94 | 2.18 | -39.28 | 2.84 | 17.84 | -43.43 | 2.05 | 18.5 | -40.92 | 0.13 | 18.18 | 0.0 | 21.69 | -12.22 | -39.36 | 36.57 | -15.41 | -14.6 | 77.44 | 34.4 | 55.88 | 22.56 | -46.76 | -55.16 | 16.69 | -10.08 | -7.74 |
| 24Q2 (19) | 1.43 | -46.44 | -26.67 | 34.39 | -7.18 | -4.42 | 12.76 | -5.34 | -21.81 | 22.12 | -36.36 | -21.23 | 15.60 | -43.66 | -13.38 | 2.41 | -46.92 | -33.06 | 1.73 | -46.93 | -31.62 | 0.11 | -8.33 | -21.43 | 24.71 | -34.0 | -18.61 | 43.23 | 12.87 | -9.99 | 57.62 | 48.3 | -0.65 | 42.38 | -30.88 | 1.34 | 18.56 | -5.26 | 9.24 |
| 24Q1 (18) | 2.67 | 175.26 | 24.77 | 37.05 | -8.43 | 11.46 | 13.48 | 1.05 | -7.92 | 34.76 | 362.23 | 61.6 | 27.69 | 168.05 | 57.51 | 4.54 | 167.06 | 13.5 | 3.26 | 167.21 | 15.19 | 0.12 | 0.0 | -25.0 | 37.44 | 257.25 | 59.05 | 38.30 | -8.42 | -3.7 | 38.85 | -78.1 | -42.89 | 61.32 | 179.2 | 91.82 | 19.59 | -7.33 | 25.66 |
| 23Q4 (17) | 0.97 | -64.86 | -43.6 | 40.46 | 2.64 | 14.88 | 13.34 | -19.49 | -6.12 | 7.52 | -77.44 | -56.23 | 10.33 | -60.65 | -25.58 | 1.70 | -66.14 | -49.1 | 1.22 | -64.84 | -47.86 | 0.12 | -7.69 | -29.41 | 10.48 | -70.7 | -44.61 | 41.82 | -2.34 | -6.78 | 177.42 | 257.14 | 114.38 | -77.42 | -253.85 | -549.03 | 21.14 | 16.86 | 45.59 |
| 23Q3 (16) | 2.76 | 41.54 | -20.23 | 39.42 | 9.56 | 2.52 | 16.57 | 1.53 | -22.02 | 33.33 | 18.7 | 5.68 | 26.25 | 45.75 | 9.19 | 5.02 | 39.44 | -29.4 | 3.47 | 37.15 | -27.71 | 0.13 | -7.14 | -35.0 | 35.77 | 17.82 | 8.59 | 42.82 | -10.85 | 0.73 | 49.68 | -14.34 | -26.36 | 50.32 | 20.33 | 54.04 | 18.09 | 6.47 | 28.75 |
| 23Q2 (15) | 1.95 | -8.88 | 4.28 | 35.98 | 8.24 | -1.85 | 16.32 | 11.48 | 2.97 | 28.08 | 30.54 | 19.44 | 18.01 | 2.45 | -10.08 | 3.60 | -10.0 | -9.32 | 2.53 | -10.6 | -5.6 | 0.14 | -12.5 | 7.69 | 30.36 | 28.97 | 18.97 | 48.03 | 20.77 | -13.21 | 57.99 | -14.76 | -13.79 | 41.82 | 30.83 | 28.78 | 16.99 | 8.98 | -8.36 |
| 23Q1 (14) | 2.14 | 24.42 | 53.96 | 33.24 | -5.62 | -1.42 | 14.64 | 3.03 | 11.67 | 21.51 | 25.2 | -0.28 | 17.58 | 26.66 | 11.69 | 4.00 | 19.76 | 34.68 | 2.83 | 20.94 | 36.06 | 0.16 | -5.88 | 23.08 | 23.54 | 24.42 | -0.72 | 39.77 | -11.35 | -3.47 | 68.03 | -17.79 | 12.06 | 31.97 | 85.4 | -18.63 | 15.59 | 7.37 | -12.37 |
| 22Q4 (13) | 1.72 | -50.29 | 75.51 | 35.22 | -8.4 | 23.67 | 14.21 | -33.13 | 68.56 | 17.18 | -45.53 | 61.01 | 13.88 | -42.26 | 30.33 | 3.34 | -53.02 | 52.51 | 2.34 | -51.25 | 53.95 | 0.17 | -15.0 | 21.43 | 18.92 | -42.56 | 48.39 | 44.86 | 5.53 | 1.31 | 82.76 | 22.68 | 5.11 | 17.24 | -47.22 | -16.67 | 14.52 | 3.35 | -13.11 |
| 22Q3 (12) | 3.46 | 85.03 | 190.76 | 38.45 | 4.88 | 14.57 | 21.25 | 34.07 | 87.72 | 31.54 | 34.16 | 85.86 | 24.04 | 20.02 | 78.74 | 7.11 | 79.09 | 166.29 | 4.80 | 79.1 | 160.87 | 0.20 | 53.85 | 42.86 | 32.94 | 29.08 | 73.1 | 42.51 | -23.18 | -5.45 | 67.46 | 0.28 | 1.38 | 32.67 | 0.6 | -2.36 | 14.05 | -24.22 | -26.67 |
| 22Q2 (11) | 1.87 | 34.53 | 47.24 | 36.66 | 8.72 | 2.32 | 15.85 | 20.9 | 28.65 | 23.51 | 8.99 | 36.61 | 20.03 | 27.26 | 45.04 | 3.97 | 33.67 | 40.28 | 2.68 | 28.85 | 37.44 | 0.13 | 0.0 | -7.14 | 25.52 | 7.63 | 33.82 | 55.34 | 34.32 | 19.45 | 67.27 | 10.79 | -6.16 | 32.47 | -17.34 | 14.69 | 18.54 | 4.22 | -8.08 |
| 22Q1 (10) | 1.39 | 41.84 | -4.79 | 33.72 | 18.4 | -7.72 | 13.11 | 55.52 | -9.46 | 21.57 | 102.16 | -3.88 | 15.74 | 47.79 | -12.8 | 2.97 | 35.62 | -10.81 | 2.08 | 36.84 | -10.73 | 0.13 | -7.14 | 0.0 | 23.71 | 85.96 | -2.23 | 41.20 | -6.96 | -5.55 | 60.71 | -22.89 | -6.14 | 39.29 | 89.88 | 10.28 | 17.79 | 6.46 | -14.96 |
| 21Q4 (9) | 0.98 | -17.65 | -34.67 | 28.48 | -15.14 | -22.5 | 8.43 | -25.53 | -40.38 | 10.67 | -37.12 | -37.75 | 10.65 | -20.82 | -28.95 | 2.19 | -17.98 | -38.83 | 1.52 | -17.39 | -39.92 | 0.14 | 0.0 | -17.65 | 12.75 | -33.0 | -31.27 | 44.28 | -1.51 | 3.31 | 78.74 | 18.33 | -4.57 | 20.69 | -38.16 | 18.28 | 16.71 | -12.79 | -9.92 |
| 21Q3 (8) | 1.19 | -6.3 | -17.93 | 33.56 | -6.34 | -6.86 | 11.32 | -8.12 | -34.64 | 16.97 | -1.39 | -21.14 | 13.45 | -2.61 | -19.41 | 2.67 | -5.65 | -26.85 | 1.84 | -5.64 | -28.12 | 0.14 | 0.0 | -6.67 | 19.03 | -0.21 | -17.51 | 44.96 | -2.96 | 11.7 | 66.54 | -7.17 | -17.51 | 33.46 | 18.16 | 70.38 | 19.16 | -5.01 | 13.04 |
| 21Q2 (7) | 1.27 | -13.01 | -16.99 | 35.83 | -1.94 | 1.93 | 12.32 | -14.92 | -26.4 | 17.21 | -23.31 | -27.11 | 13.81 | -23.49 | -16.86 | 2.83 | -15.02 | -28.54 | 1.95 | -16.31 | -29.86 | 0.14 | 7.69 | -17.65 | 19.07 | -21.36 | -23.9 | 46.33 | 6.21 | 3.58 | 71.68 | 10.82 | 1.09 | 28.32 | -20.52 | -2.67 | 20.17 | -3.59 | 26.46 |
| 21Q1 (6) | 1.46 | -2.67 | 26.96 | 36.54 | -0.57 | 1.16 | 14.48 | 2.4 | 41.41 | 22.44 | 30.92 | -6.42 | 18.05 | 20.41 | -10.47 | 3.33 | -6.98 | 11.37 | 2.33 | -7.91 | 8.88 | 0.13 | -23.53 | 18.18 | 24.25 | 30.73 | -7.76 | 43.62 | 1.77 | 8.75 | 64.69 | -21.6 | 51.98 | 35.62 | 103.67 | -37.53 | 20.92 | 12.78 | -6.61 |
| 20Q4 (5) | 1.50 | 3.45 | 1037.5 | 36.75 | 2.0 | 6.24 | 14.14 | -18.36 | 96.12 | 17.14 | -20.35 | 1002.11 | 14.99 | -10.19 | 593.09 | 3.58 | -1.92 | 739.29 | 2.53 | -1.17 | 732.5 | 0.17 | 13.33 | 30.77 | 18.55 | -19.59 | 0 | 42.86 | 6.48 | 7.96 | 82.51 | 2.29 | 121.52 | 17.49 | -10.93 | -96.38 | 18.55 | 9.44 | -14.95 |
| 20Q3 (4) | 1.45 | -5.23 | 0.0 | 36.03 | 2.5 | 0.0 | 17.32 | 3.46 | 0.0 | 21.52 | -8.85 | 0.0 | 16.69 | 0.48 | 0.0 | 3.65 | -7.83 | 0.0 | 2.56 | -7.91 | 0.0 | 0.15 | -11.76 | 0.0 | 23.07 | -7.94 | 0.0 | 40.25 | -10.02 | 0.0 | 80.66 | 13.76 | 0.0 | 19.64 | -32.5 | 0.0 | 16.95 | 6.27 | 0.0 |
| 20Q2 (3) | 1.53 | 33.04 | 0.0 | 35.15 | -2.69 | 0.0 | 16.74 | 63.48 | 0.0 | 23.61 | -1.54 | 0.0 | 16.61 | -17.61 | 0.0 | 3.96 | 32.44 | 0.0 | 2.78 | 29.91 | 0.0 | 0.17 | 54.55 | 0.0 | 25.06 | -4.68 | 0.0 | 44.73 | 11.52 | 0.0 | 70.91 | 66.6 | 0.0 | 29.09 | -48.99 | 0.0 | 15.95 | -28.79 | 0.0 |
| 20Q1 (2) | 1.15 | 818.75 | 0.0 | 36.12 | 4.42 | 0.0 | 10.24 | 42.02 | 0.0 | 23.98 | 1362.11 | 0.0 | 20.16 | 763.16 | 0.0 | 2.99 | 633.93 | 0.0 | 2.14 | 635.0 | 0.0 | 0.11 | -15.38 | 0.0 | 26.29 | 0 | 0.0 | 40.11 | 1.03 | 0.0 | 42.56 | 111.1 | 0.0 | 57.02 | -88.2 | 0.0 | 22.40 | 2.71 | 0.0 |
| 19Q4 (1) | -0.16 | 0.0 | 0.0 | 34.59 | 0.0 | 0.0 | 7.21 | 0.0 | 0.0 | -1.90 | 0.0 | 0.0 | -3.04 | 0.0 | 0.0 | -0.56 | 0.0 | 0.0 | -0.40 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 39.70 | 0.0 | 0.0 | -383.33 | 0.0 | 0.0 | 483.33 | 0.0 | 0.0 | 21.81 | 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) | 7.83 | -7.34 | 37.02 | 2.1 | 15.25 | -8.08 | 1.89 | 32.63 | 23.02 | -3.88 | 18.24 | -2.88 | 14.30 | -17.2 | 10.06 | -16.03 | 0.55 | -14.06 | 25.40 | -1.24 | 41.82 | -6.78 | 66.25 | -4.4 | 33.75 | 9.74 | 0.13 | -11.29 | 17.77 | 12.18 |
| 2022 (9) | 8.45 | 72.45 | 36.26 | 8.21 | 16.59 | 43.64 | 1.42 | -14.58 | 23.95 | 43.93 | 18.78 | 35.5 | 17.27 | 56.01 | 11.98 | 55.18 | 0.64 | 14.29 | 25.72 | 38.21 | 44.86 | 1.31 | 69.30 | -0.14 | 30.76 | 0.49 | 0.15 | 2.01 | 15.84 | -17.41 |
| 2021 (8) | 4.90 | -13.12 | 33.51 | -6.97 | 11.55 | -23.1 | 1.67 | 19.36 | 16.64 | -21.55 | 13.86 | -17.25 | 11.07 | -20.13 | 7.72 | -21.3 | 0.56 | -5.08 | 18.61 | -18.38 | 44.28 | 3.31 | 69.39 | -2.01 | 30.61 | 4.88 | 0.15 | 127.23 | 19.18 | 6.08 |
| 2020 (7) | 5.64 | 100.0 | 36.02 | 2.21 | 15.02 | 28.6 | 1.40 | -7.95 | 21.21 | 29.57 | 16.75 | 39.24 | 13.86 | 50.82 | 9.81 | 47.52 | 0.59 | 7.27 | 22.80 | 26.11 | 42.86 | 7.96 | 70.82 | -0.75 | 29.18 | 1.86 | 0.06 | -12.67 | 18.08 | -1.58 |
| 2019 (6) | 2.82 | -1.74 | 35.24 | 10.5 | 11.68 | 5.13 | 1.52 | 1.93 | 16.37 | -24.07 | 12.03 | -17.15 | 9.19 | -20.23 | 6.65 | -18.9 | 0.55 | -1.79 | 18.08 | -22.97 | 39.70 | 7.7 | 71.35 | 38.55 | 28.65 | -40.93 | 0.07 | -0.25 | 18.37 | 5.94 |
| 2018 (5) | 2.87 | 1.77 | 31.89 | -1.63 | 11.11 | -21.98 | 1.49 | 11.48 | 21.56 | 26.82 | 14.52 | 8.36 | 11.52 | -2.7 | 8.20 | 1.99 | 0.56 | -6.67 | 23.47 | 25.98 | 36.86 | -22.51 | 51.50 | -38.54 | 48.50 | 199.17 | 0.07 | 0 | 17.34 | 14.68 |
| 2017 (4) | 2.82 | -32.21 | 32.42 | -4.37 | 14.24 | -18.54 | 1.33 | 5.13 | 17.00 | -25.44 | 13.40 | -25.1 | 11.84 | -33.3 | 8.04 | -31.63 | 0.60 | -7.69 | 18.63 | -24.54 | 47.57 | -0.23 | 83.79 | 9.31 | 16.21 | -30.57 | 0.00 | 0 | 15.12 | 6.48 |
| 2016 (3) | 4.16 | 17.18 | 33.90 | 2.02 | 17.48 | 20.39 | 1.27 | -10.71 | 22.80 | 6.1 | 17.89 | 4.62 | 17.75 | 11.92 | 11.76 | 28.67 | 0.65 | 30.0 | 24.69 | -0.52 | 47.68 | -20.63 | 76.65 | 13.47 | 23.35 | -28.04 | 0.00 | 0 | 14.20 | -12.4 |
| 2015 (2) | 3.55 | -21.29 | 33.23 | 4.63 | 14.52 | 35.07 | 1.42 | -15.38 | 21.49 | -22.64 | 17.10 | -26.42 | 15.86 | -23.68 | 9.14 | -7.49 | 0.50 | 28.21 | 24.82 | -22.61 | 60.07 | -47.73 | 67.55 | 74.55 | 32.45 | -47.07 | 0.00 | 0 | 16.21 | -2.53 |
| 2014 (1) | 4.51 | 24.59 | 31.76 | 0 | 10.75 | 0 | 1.68 | -25.34 | 27.78 | 0 | 23.24 | 0 | 20.78 | 0 | 9.88 | 0 | 0.39 | 8.33 | 32.07 | 1.1 | 114.92 | -18.61 | 38.70 | 28.88 | 61.30 | -12.48 | 0.00 | 0 | 16.63 | -15.37 |
