- 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) | 0.62 | -67.71 | -61.73 | 22.91 | 4.66 | 0.09 | 8.40 | 15.86 | -14.46 | 7.02 | -36.47 | -46.58 | 5.85 | -58.77 | -42.98 | 2.19 | -62.11 | -58.99 | 1.35 | -59.21 | -49.06 | 0.21 | -4.55 | -16.0 | 11.09 | -25.62 | -31.96 | 82.93 | 8.7 | -13.88 | 119.13 | 81.93 | 59.62 | -20.00 | -157.94 | -178.84 | 14.93 | -7.61 | 1.63 |
| 24Q2 (19) | 1.92 | 37.14 | 9.71 | 21.89 | 4.04 | -6.73 | 7.25 | -10.6 | -34.03 | 11.05 | -4.91 | -15.46 | 14.19 | 57.32 | 28.3 | 5.78 | 37.62 | -7.52 | 3.31 | 46.46 | 8.52 | 0.22 | -8.33 | -18.52 | 14.91 | 1.71 | -8.19 | 76.29 | -13.97 | -34.14 | 65.48 | -6.17 | -22.34 | 34.52 | 14.25 | 115.36 | 16.16 | 11.91 | 7.81 |
| 24Q1 (18) | 1.40 | 17.65 | 62.79 | 21.04 | -13.56 | -0.75 | 8.11 | -27.46 | -15.61 | 11.62 | 13.7 | 27.55 | 9.02 | 11.63 | 29.23 | 4.20 | 7.97 | 26.51 | 2.26 | 10.24 | 32.94 | 0.24 | -4.0 | 4.35 | 14.66 | 9.65 | 11.99 | 88.68 | -8.55 | -12.56 | 69.79 | -36.11 | -33.74 | 30.21 | 427.57 | 667.33 | 14.44 | 10.23 | 8.16 |
| 23Q4 (17) | 1.19 | -26.54 | 50.63 | 24.34 | 6.33 | -5.22 | 11.18 | 13.85 | 3.14 | 10.22 | -22.22 | 16.8 | 8.08 | -21.25 | 20.96 | 3.89 | -27.15 | 35.07 | 2.05 | -22.64 | 36.67 | 0.25 | 0.0 | 19.05 | 13.37 | -17.98 | 8.0 | 96.97 | 0.7 | -8.19 | 109.22 | 46.35 | -12.25 | -9.22 | -136.36 | 61.21 | 13.10 | -10.82 | -20.36 |
| 23Q3 (16) | 1.62 | -7.43 | 82.02 | 22.89 | -2.47 | 5.39 | 9.82 | -10.65 | 19.76 | 13.14 | 0.54 | 11.73 | 10.26 | -7.23 | 5.66 | 5.34 | -14.56 | 33.5 | 2.65 | -13.11 | 31.19 | 0.25 | -7.41 | 25.0 | 16.30 | 0.37 | -3.95 | 96.30 | -16.86 | 0.24 | 74.63 | -11.49 | 6.87 | 25.37 | 58.27 | -15.91 | 14.69 | -2.0 | -19.11 |
| 23Q2 (15) | 1.75 | 103.49 | 86.17 | 23.47 | 10.71 | 20.24 | 10.99 | 14.36 | 91.46 | 13.07 | 43.47 | 16.38 | 11.06 | 58.45 | 25.25 | 6.25 | 88.25 | 61.08 | 3.05 | 79.41 | 61.38 | 0.27 | 17.39 | 28.57 | 16.24 | 24.06 | 0.93 | 115.83 | 14.21 | 1.44 | 84.32 | -19.94 | 65.05 | 16.03 | 400.97 | -67.23 | 14.99 | 12.28 | -2.22 |
| 23Q1 (14) | 0.86 | 8.86 | 32.31 | 21.20 | -17.45 | 14.04 | 9.61 | -11.35 | 80.98 | 9.11 | 4.11 | 7.18 | 6.98 | 4.49 | 4.65 | 3.32 | 15.28 | 18.15 | 1.70 | 13.33 | 25.0 | 0.23 | 9.52 | 15.0 | 13.09 | 5.74 | -6.63 | 101.42 | -3.98 | -6.34 | 105.33 | -15.38 | 68.77 | -5.33 | 77.6 | -114.17 | 13.35 | -18.84 | -12.8 |
| 22Q4 (13) | 0.79 | -11.24 | 71.74 | 25.68 | 18.23 | 10.45 | 10.84 | 32.2 | 37.04 | 8.75 | -25.6 | 21.87 | 6.68 | -31.2 | 77.19 | 2.88 | -28.0 | 54.84 | 1.50 | -25.74 | 66.67 | 0.21 | 5.0 | -8.7 | 12.38 | -27.05 | -5.71 | 105.62 | 9.94 | -11.5 | 124.48 | 78.25 | 12.92 | -23.78 | -178.81 | -132.28 | 16.45 | -9.42 | 11.45 |
| 22Q3 (12) | 0.89 | -5.32 | 30.88 | 21.72 | 11.27 | 11.04 | 8.20 | 42.86 | 81.02 | 11.76 | 4.72 | 70.19 | 9.71 | 9.97 | 66.55 | 4.00 | 3.09 | 35.14 | 2.02 | 6.88 | 45.32 | 0.20 | -4.76 | -13.04 | 16.97 | 5.47 | 50.84 | 96.07 | -15.87 | -19.23 | 69.83 | 36.69 | 6.8 | 30.17 | -38.32 | -12.85 | 18.16 | 18.46 | 46.57 |
| 22Q2 (11) | 0.94 | 44.62 | 10.59 | 19.52 | 5.0 | 10.78 | 5.74 | 8.1 | -0.52 | 11.23 | 32.12 | 73.04 | 8.83 | 32.38 | 62.02 | 3.88 | 38.08 | 27.63 | 1.89 | 38.97 | 35.0 | 0.21 | 5.0 | -16.0 | 16.09 | 14.76 | 40.16 | 114.19 | 5.46 | -4.75 | 51.09 | -18.14 | -42.73 | 48.91 | 30.11 | 353.26 | 15.33 | 0.13 | 58.37 |
| 22Q1 (10) | 0.65 | 41.3 | 1.56 | 18.59 | -20.04 | 10.13 | 5.31 | -32.87 | 32.42 | 8.50 | 18.38 | 71.37 | 6.67 | 76.92 | 86.83 | 2.81 | 51.08 | 18.57 | 1.36 | 51.11 | 33.33 | 0.20 | -13.04 | -25.93 | 14.02 | 6.78 | 46.81 | 108.28 | -9.27 | -15.83 | 62.41 | -43.39 | -22.62 | 37.59 | 467.26 | 94.24 | 15.31 | 3.73 | -3.28 |
| 21Q4 (9) | 0.46 | -32.35 | -44.58 | 23.25 | 18.87 | 43.25 | 7.91 | 74.61 | 46.75 | 7.18 | 3.91 | 73.85 | 3.77 | -35.33 | 10.56 | 1.86 | -37.16 | -28.19 | 0.90 | -35.25 | -12.62 | 0.23 | 0.0 | -20.69 | 13.13 | 16.71 | 55.94 | 119.34 | 0.33 | -25.34 | 110.24 | 68.6 | -15.44 | -10.24 | -129.57 | 66.28 | 14.76 | 19.13 | -7.92 |
| 21Q3 (8) | 0.68 | -20.0 | -54.97 | 19.56 | 11.01 | 2.89 | 4.53 | -21.49 | -37.34 | 6.91 | 6.47 | -28.69 | 5.83 | 6.97 | -20.57 | 2.96 | -2.63 | -50.42 | 1.39 | -0.71 | -41.1 | 0.23 | -8.0 | -25.81 | 11.25 | -2.0 | -21.0 | 118.95 | -0.78 | -27.67 | 65.38 | -26.71 | -12.38 | 34.62 | 220.77 | 36.43 | 12.39 | 28.0 | -10.15 |
| 21Q2 (7) | 0.85 | 32.81 | -28.57 | 17.62 | 4.38 | -16.37 | 5.77 | 43.89 | -34.8 | 6.49 | 30.85 | -33.78 | 5.45 | 52.66 | -30.48 | 3.04 | 28.27 | -34.48 | 1.40 | 37.25 | -30.0 | 0.25 | -7.41 | 0.0 | 11.48 | 20.21 | -24.82 | 119.89 | -6.81 | -21.29 | 89.21 | 10.62 | -1.43 | 10.79 | -44.24 | 13.59 | 9.68 | -38.85 | -44.78 |
| 21Q1 (6) | 0.64 | -22.89 | -4.48 | 16.88 | 4.0 | -3.98 | 4.01 | -25.6 | -11.87 | 4.96 | 20.1 | -36.08 | 3.57 | 4.69 | -41.09 | 2.37 | -8.49 | -18.28 | 1.02 | -0.97 | -23.88 | 0.27 | -6.9 | 28.57 | 9.55 | 13.42 | -34.68 | 128.65 | -19.51 | 4.08 | 80.65 | -38.14 | 37.51 | 19.35 | 163.76 | -53.2 | 15.83 | -1.25 | -9.7 |
| 20Q4 (5) | 0.83 | -45.03 | 38.33 | 16.23 | -14.62 | -10.13 | 5.39 | -25.45 | -14.31 | 4.13 | -57.38 | -23.09 | 3.41 | -53.54 | -19.76 | 2.59 | -56.62 | 6.15 | 1.03 | -56.36 | -8.04 | 0.29 | -6.45 | 16.0 | 8.42 | -40.87 | -20.04 | 159.84 | -2.81 | 23.8 | 130.36 | 74.68 | 11.16 | -30.36 | -219.64 | -75.75 | 16.03 | 16.24 | -3.14 |
| 20Q3 (4) | 1.51 | 26.89 | 0.0 | 19.01 | -9.78 | 0.0 | 7.23 | -18.31 | 0.0 | 9.69 | -1.12 | 0.0 | 7.34 | -6.38 | 0.0 | 5.97 | 28.66 | 0.0 | 2.36 | 18.0 | 0.0 | 0.31 | 24.0 | 0.0 | 14.24 | -6.75 | 0.0 | 164.46 | 7.98 | 0.0 | 74.63 | -17.54 | 0.0 | 25.37 | 167.09 | 0.0 | 13.79 | -21.33 | 0.0 |
| 20Q2 (3) | 1.19 | 77.61 | 0.0 | 21.07 | 19.85 | 0.0 | 8.85 | 94.51 | 0.0 | 9.80 | 26.29 | 0.0 | 7.84 | 29.37 | 0.0 | 4.64 | 60.0 | 0.0 | 2.00 | 49.25 | 0.0 | 0.25 | 19.05 | 0.0 | 15.27 | 4.45 | 0.0 | 152.31 | 23.22 | 0.0 | 90.50 | 54.31 | 0.0 | 9.50 | -77.03 | 0.0 | 17.53 | 0.0 | 0.0 |
| 20Q1 (2) | 0.67 | 11.67 | 0.0 | 17.58 | -2.66 | 0.0 | 4.55 | -27.66 | 0.0 | 7.76 | 44.51 | 0.0 | 6.06 | 42.59 | 0.0 | 2.90 | 18.85 | 0.0 | 1.34 | 19.64 | 0.0 | 0.21 | -16.0 | 0.0 | 14.62 | 38.84 | 0.0 | 123.61 | -4.26 | 0.0 | 58.65 | -49.99 | 0.0 | 41.35 | 339.41 | 0.0 | 17.53 | 5.92 | 0.0 |
| 19Q4 (1) | 0.60 | 0.0 | 0.0 | 18.06 | 0.0 | 0.0 | 6.29 | 0.0 | 0.0 | 5.37 | 0.0 | 0.0 | 4.25 | 0.0 | 0.0 | 2.44 | 0.0 | 0.0 | 1.12 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 10.53 | 0.0 | 0.0 | 129.11 | 0.0 | 0.0 | 117.27 | 0.0 | 0.0 | -17.27 | 0.0 | 0.0 | 16.55 | 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) | 5.41 | 64.94 | 23.02 | 7.57 | 10.42 | 38.2 | 3.04 | -30.87 | 11.48 | 14.23 | 9.19 | 15.45 | 18.60 | 36.26 | 9.49 | 42.49 | 1.01 | 24.69 | 14.85 | 0.2 | 96.97 | -8.19 | 90.79 | 21.06 | 9.21 | -63.17 | 0.13 | 4.52 | 14.07 | -13.63 |
| 2022 (9) | 3.28 | 24.71 | 21.40 | 12.39 | 7.54 | 39.11 | 4.39 | -5.39 | 10.05 | 60.29 | 7.96 | 72.67 | 13.65 | 29.38 | 6.66 | 45.41 | 0.81 | -14.74 | 14.82 | 32.32 | 105.62 | -11.5 | 75.00 | -13.14 | 25.00 | 83.1 | 0.13 | -16.36 | 16.29 | 23.13 |
| 2021 (8) | 2.63 | -37.53 | 19.04 | 3.53 | 5.42 | -17.25 | 4.64 | 1.57 | 6.27 | -18.78 | 4.61 | -23.93 | 10.55 | -31.72 | 4.58 | -29.54 | 0.95 | -8.65 | 11.20 | -12.7 | 119.34 | -25.34 | 86.35 | 1.76 | 13.65 | -9.86 | 0.15 | 2.81 | 13.23 | -13.02 |
| 2020 (7) | 4.21 | 68.4 | 18.39 | 15.3 | 6.55 | 58.98 | 4.57 | -2.91 | 7.72 | 32.19 | 6.06 | 30.32 | 15.45 | 57.01 | 6.50 | 45.41 | 1.04 | 11.83 | 12.83 | 16.74 | 159.84 | 23.8 | 84.85 | 20.19 | 15.15 | -48.48 | 0.15 | -65.24 | 15.21 | -15.17 |
| 2019 (6) | 2.50 | -32.43 | 15.95 | 21.76 | 4.12 | -37.86 | 4.71 | 45.79 | 5.84 | -34.68 | 4.65 | -25.0 | 9.84 | -25.57 | 4.47 | -24.11 | 0.93 | 0.0 | 10.99 | -11.58 | 129.11 | 0.51 | 70.60 | -4.77 | 29.40 | 13.66 | 0.42 | 223.9 | 17.93 | -22.78 |
| 2018 (5) | 3.70 | 72.09 | 13.10 | -24.36 | 6.63 | 20.99 | 3.23 | 5.1 | 8.94 | 65.56 | 6.20 | 49.04 | 13.22 | 47.54 | 5.89 | 40.57 | 0.93 | -4.12 | 12.43 | 42.22 | 128.46 | -1.47 | 74.14 | -27.19 | 25.86 | 0 | 0.13 | -23.28 | 23.22 | 26.06 |
| 2017 (4) | 2.15 | -43.57 | 17.32 | -13.87 | 5.48 | -37.8 | 3.07 | -11.95 | 5.40 | -43.34 | 4.16 | -45.48 | 8.96 | -48.24 | 4.19 | -51.95 | 0.97 | -13.39 | 8.74 | -34.29 | 130.37 | 14.8 | 101.81 | 9.99 | -1.55 | 0 | 0.17 | 0 | 18.42 | 2.22 |
| 2016 (3) | 3.81 | 45.42 | 20.11 | -1.03 | 8.81 | 36.17 | 3.49 | -10.64 | 9.53 | 6.24 | 7.63 | 3.67 | 17.31 | 20.88 | 8.72 | 3.2 | 1.12 | -1.75 | 13.30 | 2.23 | 113.56 | 36.21 | 92.57 | 28.41 | 7.43 | -73.37 | 0.00 | 0 | 18.02 | -12.86 |
| 2015 (2) | 2.62 | 27.18 | 20.32 | -5.84 | 6.47 | -10.76 | 3.90 | -8.3 | 8.97 | 18.03 | 7.36 | 19.87 | 14.32 | 18.74 | 8.45 | 8.61 | 1.14 | -9.52 | 13.01 | 8.51 | 83.37 | 44.87 | 72.09 | -24.44 | 27.91 | 507.13 | 0.00 | 0 | 20.68 | -2.77 |
| 2014 (1) | 2.06 | 329.17 | 21.58 | 0 | 7.25 | 0 | 4.26 | -26.0 | 7.60 | 0 | 6.14 | 0 | 12.06 | 0 | 7.78 | 0 | 1.26 | 31.25 | 11.99 | 39.26 | 57.55 | 5.42 | 95.40 | 138.51 | 4.60 | -92.34 | 0.00 | 0 | 21.27 | -16.26 |
