- 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) | 1.01 | 1.0 | -28.87 | 46.38 | -1.63 | 7.24 | 10.71 | 10.41 | -25.93 | 12.22 | -4.68 | -19.97 | 9.57 | -5.53 | -16.93 | 2.07 | 4.55 | -44.5 | 1.51 | 2.03 | -40.08 | 0.16 | 6.67 | -27.27 | 19.94 | -1.43 | -0.4 | 36.29 | -7.56 | -18.23 | 87.54 | 15.81 | -7.56 | 12.46 | -48.94 | 134.75 | 22.19 | -3.1 | 11.4 |
| 24Q2 (19) | 1.00 | -11.5 | -39.76 | 47.15 | 1.35 | 8.24 | 9.70 | -21.01 | -32.64 | 12.82 | -7.03 | -27.41 | 10.13 | -6.12 | -23.78 | 1.98 | -15.38 | -51.82 | 1.48 | -16.85 | -47.33 | 0.15 | -6.25 | -28.57 | 20.23 | -1.94 | -6.77 | 39.26 | 30.22 | -28.68 | 75.59 | -15.35 | -7.31 | 24.41 | 122.21 | 32.34 | 22.90 | -3.74 | 15.31 |
| 24Q1 (18) | 1.13 | -12.4 | -44.06 | 46.52 | 1.31 | 4.05 | 12.28 | -24.1 | -38.38 | 13.79 | -15.91 | -29.68 | 10.79 | -14.09 | -26.35 | 2.34 | -36.76 | -53.75 | 1.78 | -33.08 | -49.14 | 0.16 | -23.81 | -33.33 | 20.63 | -3.55 | -10.89 | 30.15 | -16.62 | -25.45 | 89.30 | -9.53 | -12.08 | 10.99 | 747.75 | 803.1 | 23.79 | 21.38 | 29.5 |
| 23Q4 (17) | 1.29 | -9.15 | -38.86 | 45.92 | 6.17 | -3.51 | 16.18 | 11.89 | -19.3 | 16.40 | 7.4 | -13.04 | 12.56 | 9.03 | -17.91 | 3.70 | -0.8 | -35.76 | 2.66 | 5.56 | -27.12 | 0.21 | -4.55 | -12.5 | 21.39 | 6.84 | -5.27 | 36.16 | -18.52 | -28.64 | 98.70 | 4.24 | -7.06 | 1.30 | -75.59 | 120.37 | 19.60 | -1.61 | -1.56 |
| 23Q3 (16) | 1.42 | -14.46 | -41.08 | 43.25 | -0.71 | -10.99 | 14.46 | 0.42 | -33.91 | 15.27 | -13.53 | -34.72 | 11.52 | -13.32 | -38.0 | 3.73 | -9.25 | -50.2 | 2.52 | -10.32 | -42.99 | 0.22 | 4.76 | -8.33 | 20.02 | -7.74 | -28.63 | 44.38 | -19.38 | -32.75 | 94.69 | 16.11 | 1.23 | 5.31 | -71.22 | -17.75 | 19.92 | 0.3 | 7.27 |
| 23Q2 (15) | 1.66 | -17.82 | -37.59 | 43.56 | -2.57 | -11.68 | 14.40 | -27.75 | -41.25 | 17.66 | -9.94 | -29.22 | 13.29 | -9.28 | -35.89 | 4.11 | -18.77 | -52.04 | 2.81 | -19.71 | -45.54 | 0.21 | -12.5 | -16.0 | 21.70 | -6.26 | -22.56 | 55.05 | 36.13 | -24.96 | 81.55 | -19.7 | -17.06 | 18.45 | 1280.58 | 931.78 | 19.86 | 8.11 | 8.76 |
| 23Q1 (14) | 2.02 | -4.27 | -25.19 | 44.71 | -6.05 | -10.0 | 19.93 | -0.6 | -13.12 | 19.61 | 3.98 | -25.72 | 14.65 | -4.25 | -34.1 | 5.06 | -12.15 | -40.96 | 3.50 | -4.11 | -37.28 | 0.24 | 0.0 | -4.0 | 23.15 | 2.52 | -21.76 | 40.44 | -20.19 | -32.45 | 101.56 | -4.37 | 16.88 | -1.56 | 75.44 | -111.92 | 18.37 | -7.73 | -8.47 |
| 22Q4 (13) | 2.11 | -12.45 | 9.33 | 47.59 | -2.06 | -7.32 | 20.05 | -8.36 | -10.61 | 18.86 | -19.37 | -18.99 | 15.30 | -17.65 | -23.58 | 5.76 | -23.1 | -14.54 | 3.65 | -17.42 | -21.0 | 0.24 | 0.0 | 4.35 | 22.58 | -19.5 | -16.34 | 50.67 | -23.22 | 6.47 | 106.20 | 13.53 | 10.32 | -6.36 | -198.55 | -270.4 | 19.91 | 7.22 | -9.34 |
| 22Q3 (12) | 2.41 | -9.4 | 83.97 | 48.59 | -1.48 | -5.85 | 21.88 | -10.73 | 7.94 | 23.39 | -6.25 | 14.43 | 18.58 | -10.37 | 5.99 | 7.49 | -12.6 | 40.53 | 4.42 | -14.34 | 16.01 | 0.24 | -4.0 | 9.09 | 28.05 | 0.11 | 12.7 | 65.99 | -10.05 | 47.3 | 93.54 | -4.87 | -5.62 | 6.46 | 261.1 | 631.13 | 18.57 | 1.7 | -9.46 |
| 22Q2 (11) | 2.66 | -1.48 | 264.38 | 49.32 | -0.72 | -0.72 | 24.51 | 6.84 | 87.53 | 24.95 | -5.49 | 87.31 | 20.73 | -6.75 | 81.36 | 8.57 | 0.0 | 204.98 | 5.16 | -7.53 | 146.89 | 0.25 | 0.0 | 38.89 | 28.02 | -5.31 | 39.54 | 73.36 | 22.53 | 109.6 | 98.33 | 13.16 | 0.11 | 1.79 | -86.36 | 0.57 | 18.26 | -9.02 | -28.53 |
| 22Q1 (10) | 2.70 | 39.9 | 297.06 | 49.68 | -3.25 | 1.85 | 22.94 | 2.27 | 153.76 | 26.40 | 13.4 | 94.55 | 22.23 | 11.04 | 90.65 | 8.57 | 27.15 | 212.77 | 5.58 | 20.78 | 166.99 | 0.25 | 8.7 | 38.89 | 29.59 | 9.63 | 46.99 | 59.87 | 25.8 | 72.49 | 86.89 | -9.73 | 30.03 | 13.11 | 250.99 | -61.06 | 20.07 | -8.61 | -30.58 |
| 21Q4 (9) | 1.93 | 47.33 | 2044.44 | 51.35 | -0.5 | 9.79 | 22.43 | 10.66 | 1219.41 | 23.28 | 13.89 | 1452.0 | 20.02 | 14.2 | 1175.16 | 6.74 | 26.45 | 1721.62 | 4.62 | 21.26 | 1440.0 | 0.23 | 4.55 | 27.78 | 26.99 | 8.44 | 216.41 | 47.59 | 6.23 | 62.42 | 96.27 | -2.88 | -15.77 | 3.73 | 322.85 | 126.14 | 21.96 | 7.07 | -21.85 |
| 21Q3 (8) | 1.31 | 79.45 | 424.0 | 51.61 | 3.88 | 9.9 | 20.27 | 55.09 | 299.8 | 20.44 | 53.45 | 279.22 | 17.53 | 53.37 | 337.16 | 5.33 | 89.68 | 380.18 | 3.81 | 82.3 | 376.25 | 0.22 | 22.22 | 15.79 | 24.89 | 23.95 | 103.02 | 44.80 | 28.0 | 18.21 | 99.12 | 0.91 | 5.64 | 0.88 | -50.33 | -85.7 | 20.51 | -19.73 | -28.49 |
| 21Q2 (7) | 0.73 | 7.35 | 25.86 | 49.68 | 1.85 | 6.24 | 13.07 | 44.58 | 2514.0 | 13.32 | -1.84 | 6.05 | 11.43 | -1.97 | 8.65 | 2.81 | 2.55 | 5.24 | 2.09 | 0.0 | 11.76 | 0.18 | 0.0 | 0.0 | 20.08 | -0.25 | -8.31 | 35.00 | 0.84 | -25.5 | 98.22 | 46.98 | 2201.21 | 1.78 | -94.72 | -98.15 | 25.55 | -11.62 | -11.04 |
| 21Q1 (6) | 0.68 | 655.56 | 325.0 | 48.78 | 4.3 | -0.22 | 9.04 | 431.76 | 169.05 | 13.57 | 804.67 | 263.81 | 11.66 | 642.68 | 307.69 | 2.74 | 640.54 | 297.1 | 2.09 | 596.67 | 318.0 | 0.18 | 0.0 | 5.88 | 20.13 | 135.99 | 56.17 | 34.71 | 18.46 | -17.1 | 66.83 | -41.53 | -26.96 | 33.65 | 335.58 | 216.35 | 28.91 | 2.88 | -7.07 |
| 20Q4 (5) | 0.09 | -64.0 | -55.0 | 46.77 | -0.4 | -5.88 | 1.70 | -66.47 | -58.02 | 1.50 | -72.17 | -61.44 | 1.57 | -60.85 | -49.84 | 0.37 | -66.67 | -56.98 | 0.30 | -62.5 | -50.0 | 0.18 | -5.26 | -5.26 | 8.53 | -30.42 | -29.68 | 29.30 | -22.69 | -36.79 | 114.29 | 21.8 | 10.28 | -14.29 | -331.43 | -292.86 | 28.10 | -2.02 | 0 |
| 20Q3 (4) | 0.25 | -56.9 | 0.0 | 46.96 | 0.43 | 0.0 | 5.07 | 914.0 | 0.0 | 5.39 | -57.09 | 0.0 | 4.01 | -61.88 | 0.0 | 1.11 | -58.43 | 0.0 | 0.80 | -57.22 | 0.0 | 0.19 | 5.56 | 0.0 | 12.26 | -44.02 | 0.0 | 37.90 | -19.33 | 0.0 | 93.83 | 2098.24 | 0.0 | 6.17 | -93.59 | 0.0 | 28.68 | -0.14 | 0.0 |
| 20Q2 (3) | 0.58 | 262.5 | 0.0 | 46.76 | -4.36 | 0.0 | 0.50 | -85.12 | 0.0 | 12.56 | 236.73 | 0.0 | 10.52 | 267.83 | 0.0 | 2.67 | 286.96 | 0.0 | 1.87 | 274.0 | 0.0 | 0.18 | 5.88 | 0.0 | 21.90 | 69.9 | 0.0 | 46.98 | 12.2 | 0.0 | 4.27 | -95.33 | 0.0 | 96.34 | 805.61 | 0.0 | 28.72 | -7.68 | 0.0 |
| 20Q1 (2) | 0.16 | -20.0 | 0.0 | 48.89 | -1.61 | 0.0 | 3.36 | -17.04 | 0.0 | 3.73 | -4.11 | 0.0 | 2.86 | -8.63 | 0.0 | 0.69 | -19.77 | 0.0 | 0.50 | -16.67 | 0.0 | 0.17 | -10.53 | 0.0 | 12.89 | 6.27 | 0.0 | 41.87 | -9.67 | 0.0 | 91.49 | -11.72 | 0.0 | 10.64 | 392.55 | 0.0 | 31.11 | 0 | 0.0 |
| 19Q4 (1) | 0.20 | 0.0 | 0.0 | 49.69 | 0.0 | 0.0 | 4.05 | 0.0 | 0.0 | 3.89 | 0.0 | 0.0 | 3.13 | 0.0 | 0.0 | 0.86 | 0.0 | 0.0 | 0.60 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 12.13 | 0.0 | 0.0 | 46.35 | 0.0 | 0.0 | 103.64 | 0.0 | 0.0 | -3.64 | 0.0 | 0.0 | 0.00 | 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) | 6.39 | -35.32 | 44.35 | -9.12 | 16.34 | -26.92 | 1.03 | 12.85 | 17.30 | -26.07 | 13.05 | -32.07 | 16.59 | -43.42 | 11.67 | -40.73 | 0.89 | -12.75 | 21.60 | -20.21 | 36.16 | -28.64 | 94.49 | -1.11 | 5.56 | 24.88 | 5.09 | 11.84 | 19.41 | 1.15 |
| 2022 (9) | 9.88 | 112.47 | 48.80 | -3.54 | 22.36 | 28.95 | 0.91 | -26.36 | 23.40 | 25.94 | 19.21 | 20.36 | 29.32 | 64.72 | 19.69 | 53.83 | 1.02 | 27.5 | 27.07 | 14.41 | 50.67 | 6.47 | 95.55 | 2.37 | 4.45 | -33.18 | 4.55 | 8.48 | 19.19 | -18.79 |
| 2021 (8) | 4.65 | 330.56 | 50.59 | 6.93 | 17.34 | 539.85 | 1.24 | -32.71 | 18.58 | 225.96 | 15.96 | 242.49 | 17.80 | 303.63 | 12.80 | 289.06 | 0.80 | 15.94 | 23.66 | 72.45 | 47.59 | 62.42 | 93.34 | 96.08 | 6.66 | -87.29 | 4.20 | 32.81 | 23.63 | -18.8 |
| 2020 (7) | 1.08 | -22.86 | 47.31 | -10.33 | 2.71 | -63.91 | 1.84 | 2.66 | 5.70 | -27.48 | 4.66 | -26.5 | 4.41 | -33.98 | 3.29 | -30.3 | 0.69 | -5.48 | 13.72 | -15.57 | 29.30 | -36.79 | 47.60 | -50.12 | 52.40 | 1049.96 | 3.16 | -55.84 | 29.10 | -5.86 |
| 2019 (6) | 1.40 | 32.08 | 52.76 | -0.66 | 7.51 | 30.16 | 1.79 | 75.64 | 7.86 | 22.05 | 6.34 | 19.17 | 6.68 | 32.28 | 4.72 | 24.21 | 0.73 | 2.82 | 16.25 | 8.62 | 46.35 | 11.31 | 95.44 | 6.57 | 4.56 | -56.37 | 7.15 | -29.44 | 30.91 | 6.84 |
| 2018 (5) | 1.06 | -68.82 | 53.11 | 7.14 | 5.77 | -2.04 | 1.02 | 13.47 | 6.44 | 4.04 | 5.32 | -66.01 | 5.05 | 0.8 | 3.80 | -3.55 | 0.71 | -12.35 | 14.96 | 10.57 | 41.64 | 63.81 | 89.56 | -5.89 | 10.44 | 116.04 | 10.14 | 0 | 28.93 | 2.66 |
| 2017 (4) | 3.40 | 198.25 | 49.57 | 12.99 | 5.89 | 7.88 | 0.90 | -16.39 | 6.19 | 21.61 | 15.65 | 258.12 | 5.01 | -11.17 | 3.94 | -7.08 | 0.81 | -16.49 | 13.53 | 27.64 | 25.42 | -13.15 | 95.17 | -11.34 | 4.83 | 0 | 0.00 | 0 | 28.18 | 22.04 |
| 2016 (3) | 1.14 | -9.52 | 43.87 | -8.07 | 5.46 | -31.92 | 1.07 | -12.75 | 5.09 | -41.09 | 4.37 | -37.21 | 5.64 | -25.79 | 4.24 | -29.22 | 0.97 | 12.79 | 10.60 | -24.77 | 29.27 | -19.14 | 107.34 | 15.69 | -7.34 | 0 | 0.00 | 0 | 23.09 | 6.06 |
| 2015 (2) | 1.26 | -23.64 | 47.72 | -7.79 | 8.02 | -37.59 | 1.23 | -13.77 | 8.64 | -38.29 | 6.96 | -40.82 | 7.60 | -21.73 | 5.99 | -24.65 | 0.86 | 26.47 | 14.09 | -29.59 | 36.20 | 80.73 | 92.78 | 1.08 | 7.22 | -12.07 | 0.00 | 0 | 21.77 | -11.03 |
| 2014 (1) | 1.65 | -18.32 | 51.75 | 0 | 12.85 | 0 | 1.43 | 12.72 | 14.00 | 0 | 11.76 | 0 | 9.71 | 0 | 7.95 | 0 | 0.68 | -13.92 | 20.01 | 4.44 | 20.03 | -17.74 | 91.79 | -9.3 | 8.21 | 0 | 0.00 | 0 | 24.47 | 17.59 |
