- 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) | 1.06 | -31.17 | -58.1 | 24.02 | -12.27 | -11.1 | 14.59 | -16.39 | -23.41 | 14.43 | -36.96 | -40.81 | 10.97 | -32.95 | -39.89 | 3.73 | -34.33 | -60.02 | 2.32 | -27.5 | -51.46 | 0.21 | 5.0 | -19.23 | 16.07 | -34.75 | -37.18 | 52.19 | -27.21 | -39.78 | 101.26 | 33.02 | 29.57 | -1.26 | -105.28 | -105.78 | 0.00 | -100.0 | 100.0 |
| 24Q2 (19) | 1.54 | 3.36 | -28.7 | 27.38 | 25.54 | 11.71 | 17.45 | 51.08 | 3.93 | 22.89 | 1.6 | 1.02 | 16.36 | -3.48 | 0.0 | 5.68 | 5.19 | -32.14 | 3.20 | 2.56 | -25.93 | 0.20 | 11.11 | -23.08 | 24.63 | 0.49 | 2.84 | 71.70 | -15.06 | -33.2 | 76.12 | 48.62 | 2.76 | 23.88 | -51.05 | -7.88 | 18.49 | 11.92 | -38.63 |
| 24Q1 (18) | 1.49 | 61.96 | 26.27 | 21.81 | -0.32 | -10.39 | 11.55 | -21.75 | -28.26 | 22.53 | 125.3 | 36.05 | 16.95 | 100.83 | 42.2 | 5.40 | 69.28 | 15.63 | 3.12 | 69.57 | 15.56 | 0.18 | -14.29 | -18.18 | 24.51 | 111.66 | 34.08 | 84.41 | 25.67 | 0.23 | 51.22 | -65.29 | -47.37 | 48.78 | 202.52 | 1558.54 | 16.52 | 23.01 | 12.46 |
| 23Q4 (17) | 0.92 | -63.64 | 39.39 | 21.88 | -19.02 | -10.58 | 14.76 | -22.52 | -0.74 | 10.00 | -58.98 | -17.97 | 8.44 | -53.75 | -2.2 | 3.19 | -65.81 | 17.71 | 1.84 | -61.51 | 10.18 | 0.21 | -19.23 | 10.53 | 11.58 | -54.73 | -19.97 | 67.17 | -22.49 | -2.81 | 147.58 | 88.83 | 20.9 | -47.58 | -317.79 | -115.63 | 13.43 | 1247.86 | -7.7 |
| 23Q3 (16) | 2.53 | 17.13 | 197.65 | 27.02 | 10.24 | 67.0 | 19.05 | 13.46 | 343.02 | 24.38 | 7.59 | 40.36 | 18.25 | 11.55 | 30.64 | 9.33 | 11.47 | 159.89 | 4.78 | 10.65 | 127.62 | 0.26 | 0.0 | 73.33 | 25.58 | 6.81 | 27.64 | 86.66 | -19.27 | 30.26 | 78.15 | 5.5 | 213.92 | 21.85 | -15.72 | -70.91 | -1.17 | -103.88 | -106.31 |
| 23Q2 (15) | 2.16 | 83.05 | 163.41 | 24.51 | 0.7 | 30.72 | 16.79 | 4.29 | 88.86 | 22.66 | 36.84 | 54.99 | 16.36 | 37.25 | 47.65 | 8.37 | 79.23 | 148.37 | 4.32 | 60.0 | 120.41 | 0.26 | 18.18 | 52.94 | 23.95 | 31.02 | 42.73 | 107.34 | 27.45 | 33.19 | 74.08 | -23.89 | 21.98 | 25.92 | 781.3 | -34.0 | 30.13 | 105.11 | 99.67 |
| 23Q1 (14) | 1.18 | 78.79 | 49.37 | 24.34 | -0.53 | 46.27 | 16.10 | 8.27 | 134.01 | 16.56 | 35.85 | 16.7 | 11.92 | 38.12 | 10.68 | 4.67 | 72.32 | 48.73 | 2.70 | 61.68 | 44.39 | 0.22 | 15.79 | 29.41 | 18.28 | 26.33 | 11.4 | 84.22 | 21.86 | 24.62 | 97.33 | -20.27 | 101.48 | 2.94 | 113.33 | -94.31 | 14.69 | 0.96 | -14.09 |
| 22Q4 (13) | 0.66 | -22.35 | -26.67 | 24.47 | 51.24 | 34.67 | 14.87 | 245.81 | 46.21 | 12.19 | -29.82 | 6.56 | 8.63 | -38.22 | -6.8 | 2.71 | -24.51 | -27.73 | 1.67 | -20.48 | -20.48 | 0.19 | 26.67 | -13.64 | 14.47 | -27.79 | 10.46 | 69.11 | 3.88 | -5.54 | 122.07 | 390.3 | 37.87 | -22.07 | -129.38 | -299.38 | 14.55 | -21.52 | 2.61 |
| 22Q3 (12) | 0.85 | 3.66 | -15.84 | 16.18 | -13.71 | -15.46 | 4.30 | -51.63 | -64.17 | 17.37 | 18.81 | 30.5 | 13.97 | 26.08 | 46.9 | 3.59 | 6.53 | -13.29 | 2.10 | 7.14 | -7.08 | 0.15 | -11.76 | -37.5 | 20.04 | 19.43 | 35.77 | 66.53 | -17.45 | -24.44 | 24.90 | -59.0 | -72.37 | 75.10 | 91.24 | 658.08 | 18.54 | 22.86 | 37.33 |
| 22Q2 (11) | 0.82 | 3.8 | -21.9 | 18.75 | 12.68 | -3.4 | 8.89 | 29.22 | -29.72 | 14.62 | 3.03 | 23.9 | 11.08 | 2.88 | 26.34 | 3.37 | 7.32 | -19.57 | 1.96 | 4.81 | -15.88 | 0.17 | 0.0 | -37.04 | 16.78 | 2.25 | 29.28 | 80.59 | 19.25 | -0.22 | 60.73 | 25.72 | -43.31 | 39.27 | -24.03 | 651.51 | 15.09 | -11.75 | 1.07 |
| 22Q1 (10) | 0.79 | -12.22 | -40.6 | 16.64 | -8.42 | -18.55 | 6.88 | -32.35 | -48.39 | 14.19 | 24.04 | -3.27 | 10.77 | 16.31 | -3.32 | 3.14 | -16.27 | -43.42 | 1.87 | -10.95 | -39.29 | 0.17 | -22.73 | -39.29 | 16.41 | 25.27 | 3.66 | 67.58 | -7.63 | -15.2 | 48.31 | -45.44 | -46.9 | 51.69 | 367.1 | 472.95 | 17.10 | 20.59 | 19.66 |
| 21Q4 (9) | 0.90 | -10.89 | -42.68 | 18.17 | -5.07 | -22.65 | 10.17 | -15.25 | -35.18 | 11.44 | -14.05 | -35.29 | 9.26 | -2.63 | -33.24 | 3.75 | -9.42 | -46.35 | 2.10 | -7.08 | -46.56 | 0.22 | -8.33 | -21.43 | 13.10 | -11.25 | -30.54 | 73.16 | -16.91 | -11.02 | 88.54 | -1.73 | -0.31 | 11.07 | 11.71 | -1.05 | 14.18 | 5.04 | -8.87 |
| 21Q3 (8) | 1.01 | -3.81 | -31.29 | 19.14 | -1.39 | -28.82 | 12.00 | -5.14 | -36.34 | 13.31 | 12.8 | -29.54 | 9.51 | 8.44 | -36.52 | 4.14 | -1.19 | -41.03 | 2.26 | -3.0 | -45.01 | 0.24 | -11.11 | -11.11 | 14.76 | 13.71 | -26.53 | 88.05 | 9.01 | 18.84 | 90.09 | -15.9 | -9.69 | 9.91 | 239.13 | 4060.99 | 13.50 | -9.58 | -8.54 |
| 21Q2 (7) | 1.05 | -21.05 | -6.25 | 19.41 | -4.99 | -29.24 | 12.65 | -5.1 | -32.39 | 11.80 | -19.56 | -36.49 | 8.77 | -21.27 | -36.86 | 4.19 | -24.5 | -23.96 | 2.33 | -24.35 | -33.05 | 0.27 | -3.57 | 8.0 | 12.98 | -18.0 | -35.36 | 80.77 | 1.36 | 19.16 | 107.12 | 17.74 | 6.49 | -7.12 | -178.92 | -1110.53 | 14.93 | 4.48 | -1.91 |
| 21Q1 (6) | 1.33 | -15.29 | 241.03 | 20.43 | -13.03 | -13.1 | 13.33 | -15.04 | 39.73 | 14.67 | -17.02 | 7.0 | 11.14 | -19.68 | 15.2 | 5.55 | -20.6 | 187.56 | 3.08 | -21.63 | 142.52 | 0.28 | 0.0 | 115.38 | 15.83 | -16.07 | -5.32 | 79.69 | -3.08 | 59.19 | 90.98 | 2.43 | 30.26 | 9.02 | -19.33 | -70.08 | 14.29 | -8.16 | -29.88 |
| 20Q4 (5) | 1.57 | 6.8 | 141.54 | 23.49 | -12.64 | -5.28 | 15.69 | -16.76 | 2.55 | 17.68 | -6.41 | 36.95 | 13.87 | -7.41 | 46.46 | 6.99 | -0.43 | 116.41 | 3.93 | -4.38 | 91.71 | 0.28 | 3.7 | 33.33 | 18.86 | -6.12 | 26.66 | 82.22 | 10.97 | 44.63 | 88.82 | -10.97 | -25.05 | 11.18 | 4597.37 | 160.46 | 15.56 | 5.42 | 12.27 |
| 20Q3 (4) | 1.47 | 31.25 | 0.0 | 26.89 | -1.97 | 0.0 | 18.85 | 0.75 | 0.0 | 18.89 | 1.67 | 0.0 | 14.98 | 7.85 | 0.0 | 7.02 | 27.4 | 0.0 | 4.11 | 18.1 | 0.0 | 0.27 | 8.0 | 0.0 | 20.09 | 0.05 | 0.0 | 74.09 | 9.31 | 0.0 | 99.76 | -0.82 | 0.0 | 0.24 | 140.48 | 0.0 | 14.76 | -3.02 | 0.0 |
| 20Q2 (3) | 1.12 | 187.18 | 0.0 | 27.43 | 16.67 | 0.0 | 18.71 | 96.12 | 0.0 | 18.58 | 35.52 | 0.0 | 13.89 | 43.64 | 0.0 | 5.51 | 185.49 | 0.0 | 3.48 | 174.02 | 0.0 | 0.25 | 92.31 | 0.0 | 20.08 | 20.1 | 0.0 | 67.78 | 35.4 | 0.0 | 100.59 | 44.02 | 0.0 | -0.59 | -101.95 | 0.0 | 15.22 | -25.32 | 0.0 |
| 20Q1 (2) | 0.39 | -40.0 | 0.0 | 23.51 | -5.2 | 0.0 | 9.54 | -37.65 | 0.0 | 13.71 | 6.2 | 0.0 | 9.67 | 2.11 | 0.0 | 1.93 | -40.25 | 0.0 | 1.27 | -38.05 | 0.0 | 0.13 | -38.1 | 0.0 | 16.72 | 12.29 | 0.0 | 50.06 | -11.94 | 0.0 | 69.84 | -41.06 | 0.0 | 30.16 | 263.02 | 0.0 | 20.38 | 47.04 | 0.0 |
| 19Q4 (1) | 0.65 | 0.0 | 0.0 | 24.80 | 0.0 | 0.0 | 15.30 | 0.0 | 0.0 | 12.91 | 0.0 | 0.0 | 9.47 | 0.0 | 0.0 | 3.23 | 0.0 | 0.0 | 2.05 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 14.89 | 0.0 | 0.0 | 56.85 | 0.0 | 0.0 | 118.50 | 0.0 | 0.0 | -18.50 | 0.0 | 0.0 | 13.86 | 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) | 6.79 | 116.93 | 24.60 | 28.13 | 16.84 | 87.11 | 1.17 | -42.25 | 19.01 | 31.56 | 14.19 | 29.47 | 25.28 | 98.9 | 15.24 | 101.59 | 1.06 | 55.88 | 20.44 | 21.96 | 67.17 | -2.81 | 88.56 | 42.08 | 11.44 | -69.62 | 0.05 | 3.69 | 14.06 | -13.21 |
| 2022 (9) | 3.13 | -27.21 | 19.20 | -0.78 | 9.00 | -25.8 | 2.02 | 61.73 | 14.45 | 12.36 | 10.96 | 13.11 | 12.71 | -29.31 | 7.56 | -25.74 | 0.68 | -34.62 | 16.76 | 18.03 | 69.11 | -5.54 | 62.33 | -33.96 | 37.67 | 569.35 | 0.05 | -27.81 | 16.20 | 13.68 |
| 2021 (8) | 4.30 | -5.49 | 19.35 | -23.97 | 12.13 | -26.93 | 1.25 | -10.99 | 12.86 | -27.63 | 9.69 | -29.22 | 17.98 | -13.81 | 10.18 | -17.1 | 1.04 | 16.85 | 14.20 | -26.27 | 73.16 | -11.02 | 94.37 | 1.07 | 5.63 | -14.1 | 0.07 | 17.59 | 14.25 | -9.98 |
| 2020 (7) | 4.55 | 82.73 | 25.45 | 9.13 | 16.60 | 30.91 | 1.40 | -32.55 | 17.77 | 21.3 | 13.69 | 26.88 | 20.86 | 66.88 | 12.28 | 53.5 | 0.89 | 20.27 | 19.26 | 14.17 | 82.22 | 44.63 | 93.37 | 7.84 | 6.55 | -51.14 | 0.06 | -25.68 | 15.83 | -5.44 |
| 2019 (6) | 2.49 | -10.11 | 23.32 | 15.79 | 12.68 | 14.44 | 2.08 | 27.57 | 14.65 | 0.9 | 10.79 | 8.22 | 12.50 | -13.61 | 8.00 | -9.91 | 0.74 | -15.91 | 16.87 | 3.05 | 56.85 | -1.44 | 86.59 | 13.43 | 13.41 | -43.33 | 0.08 | -2.54 | 16.74 | 3.21 |
| 2018 (5) | 2.77 | -2.46 | 20.14 | -16.4 | 11.08 | -23.37 | 1.63 | -6.01 | 14.52 | -0.21 | 9.97 | -10.18 | 14.47 | -5.49 | 8.88 | -6.62 | 0.88 | 3.53 | 16.37 | -0.49 | 57.68 | -20.14 | 76.34 | -23.21 | 23.66 | 3908.7 | 0.09 | 0 | 16.22 | 1.25 |
| 2017 (4) | 2.84 | -15.98 | 24.09 | -11.86 | 14.46 | -12.58 | 1.73 | -14.79 | 14.55 | -15.51 | 11.10 | -14.22 | 15.31 | -18.43 | 9.51 | -21.21 | 0.85 | -8.6 | 16.45 | -15.12 | 72.23 | 38.08 | 99.41 | 3.45 | 0.59 | -84.9 | 0.00 | 0 | 16.02 | -3.78 |
| 2016 (3) | 3.38 | 29.01 | 27.33 | 25.94 | 16.54 | 49.01 | 2.04 | -13.33 | 17.22 | 33.08 | 12.94 | 26.86 | 18.77 | 23.32 | 12.07 | 23.04 | 0.93 | -2.11 | 19.38 | 25.44 | 52.31 | -13.59 | 96.09 | 12.13 | 3.91 | -72.41 | 0.00 | 0 | 16.65 | 2.08 |
| 2015 (2) | 2.62 | 22.43 | 21.70 | 10.83 | 11.10 | 19.35 | 2.35 | 3.38 | 12.94 | 12.13 | 10.20 | 17.38 | 15.22 | 13.33 | 9.81 | 11.35 | 0.95 | -5.0 | 15.45 | 10.12 | 60.54 | 16.74 | 85.70 | 6.3 | 14.17 | -26.87 | 0.00 | 0 | 16.31 | 4.62 |
| 2014 (1) | 2.14 | 94.55 | 19.58 | 0 | 9.30 | 0 | 2.27 | -7.14 | 11.54 | 0 | 8.69 | 0 | 13.43 | 0 | 8.81 | 0 | 1.00 | -1.96 | 14.03 | 61.08 | 51.86 | -9.98 | 80.62 | -7.23 | 19.38 | 44.43 | 0.00 | 0 | 15.59 | -7.09 |
