- 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) | 1.04 | 20.93 | -32.9 | 41.55 | -1.84 | -2.88 | 9.25 | 19.2 | -32.23 | 12.93 | 4.11 | -35.12 | 10.92 | 7.8 | -30.04 | 2.46 | 17.7 | -45.93 | 1.56 | 20.0 | -38.34 | 0.14 | 16.67 | -12.5 | 17.41 | 1.34 | -26.57 | 64.25 | -5.71 | -21.04 | 72.13 | 13.66 | 5.33 | 27.87 | -27.54 | -11.59 | 21.97 | -7.18 | 14.55 |
| 24Q2 (19) | 0.86 | 160.61 | -5.49 | 42.33 | 11.13 | -3.0 | 7.76 | 227.43 | -35.01 | 12.42 | 95.59 | -18.29 | 10.13 | 140.62 | -9.31 | 2.09 | 148.81 | -25.36 | 1.30 | 136.36 | -13.91 | 0.12 | 9.09 | -7.69 | 17.18 | 50.17 | -12.48 | 68.14 | -2.78 | -25.0 | 63.46 | 62.18 | -19.98 | 38.46 | -41.03 | 85.9 | 23.67 | -3.47 | 6.1 |
| 24Q1 (18) | 0.33 | -61.63 | -70.0 | 38.09 | -14.88 | -12.6 | 2.37 | -76.83 | -84.83 | 6.35 | -37.68 | -59.68 | 4.21 | -45.4 | -65.32 | 0.84 | -64.71 | -74.55 | 0.55 | -60.14 | -68.93 | 0.11 | -35.29 | -21.43 | 11.44 | -17.52 | -41.12 | 70.09 | -20.6 | -31.07 | 39.13 | -60.87 | -60.87 | 65.22 | 0 | 4204.35 | 24.52 | 13.2 | 30.91 |
| 23Q4 (17) | 0.86 | -44.52 | -75.5 | 44.75 | 4.6 | 12.47 | 10.23 | -25.05 | 945.45 | 10.19 | -48.87 | -75.82 | 7.71 | -50.61 | -77.36 | 2.38 | -47.69 | -77.55 | 1.38 | -45.45 | -75.22 | 0.17 | 6.25 | 6.25 | 13.87 | -41.5 | -70.81 | 88.28 | 8.49 | -1.78 | 100.00 | 46.03 | 3483.33 | 0.00 | -100.0 | -100.0 | 21.66 | 12.93 | -22.97 |
| 23Q3 (16) | 1.55 | 70.33 | -20.92 | 42.78 | -1.97 | -5.4 | 13.65 | 14.32 | 26.74 | 19.93 | 31.12 | -16.65 | 15.61 | 39.75 | -20.84 | 4.55 | 62.5 | -29.24 | 2.53 | 67.55 | -19.68 | 0.16 | 23.08 | 0.0 | 23.71 | 20.78 | -17.44 | 81.37 | -10.43 | -18.02 | 68.48 | -13.66 | 50.38 | 31.52 | 52.36 | -43.06 | 19.18 | -14.03 | -18.07 |
| 23Q2 (15) | 0.91 | -17.27 | 12.35 | 43.64 | 0.14 | 15.24 | 11.94 | -23.56 | 77.94 | 15.20 | -3.49 | 21.12 | 11.17 | -7.99 | 22.34 | 2.80 | -15.15 | 8.11 | 1.51 | -14.69 | 17.97 | 0.13 | -7.14 | 0.0 | 19.63 | 1.03 | 10.22 | 90.85 | -10.65 | -22.39 | 79.31 | -20.69 | 49.47 | 20.69 | 1265.52 | -55.92 | 22.31 | 19.11 | -14.98 |
| 23Q1 (14) | 1.10 | -68.66 | 77.42 | 43.58 | 9.53 | 15.6 | 15.62 | 1390.91 | 135.95 | 15.75 | -62.63 | 57.97 | 12.14 | -64.35 | 46.27 | 3.30 | -68.87 | 46.67 | 1.77 | -68.22 | 41.6 | 0.14 | -12.5 | 0.0 | 19.43 | -59.1 | 27.16 | 101.68 | 13.13 | -6.5 | 100.00 | 3483.33 | 48.0 | 1.52 | -98.53 | -95.33 | 18.73 | -33.39 | -30.35 |
| 22Q4 (13) | 3.51 | 79.08 | 91.8 | 39.79 | -12.01 | -17.82 | -1.21 | -111.23 | -109.5 | 42.15 | 76.29 | 96.6 | 34.05 | 72.67 | 48.63 | 10.60 | 64.85 | 61.09 | 5.57 | 76.83 | 37.87 | 0.16 | 0.0 | -5.88 | 47.51 | 65.42 | 82.45 | 89.88 | -9.44 | 34.07 | -2.96 | -106.49 | -104.95 | 102.96 | 85.98 | 155.83 | 28.12 | 20.12 | 3.69 |
| 22Q3 (12) | 1.96 | 141.98 | -28.99 | 45.22 | 19.41 | 6.73 | 10.77 | 60.51 | 18.09 | 23.91 | 90.52 | -43.3 | 19.72 | 115.99 | -45.69 | 6.43 | 148.26 | -38.59 | 3.15 | 146.09 | -49.11 | 0.16 | 23.08 | -5.88 | 28.72 | 61.26 | -40.89 | 99.25 | -15.21 | 62.17 | 45.54 | -14.18 | 112.03 | 55.36 | 17.93 | -29.5 | 23.41 | -10.79 | -13.42 |
| 22Q2 (11) | 0.81 | 30.65 | -22.12 | 37.87 | 0.45 | -2.12 | 6.71 | 1.36 | -47.86 | 12.55 | 25.88 | -19.76 | 9.13 | 10.0 | -29.88 | 2.59 | 15.11 | -40.87 | 1.28 | 2.4 | -49.8 | 0.13 | -7.14 | -31.58 | 17.81 | 16.56 | -17.7 | 117.06 | 7.64 | 46.4 | 53.06 | -21.47 | -36.11 | 46.94 | 44.73 | 151.76 | 26.24 | -2.42 | 5.38 |
| 22Q1 (10) | 0.62 | -66.12 | 87.88 | 37.70 | -22.14 | -3.03 | 6.62 | -48.04 | -16.83 | 9.97 | -53.5 | 26.68 | 8.30 | -63.77 | 34.09 | 2.25 | -65.81 | 30.06 | 1.25 | -69.06 | 14.68 | 0.14 | -17.65 | -17.65 | 15.28 | -41.32 | 2.76 | 108.75 | 62.22 | 64.57 | 67.57 | 13.07 | -32.43 | 32.43 | -19.41 | 0 | 26.89 | -0.85 | -13.54 |
| 21Q4 (9) | 1.83 | -33.7 | 815.0 | 48.42 | 14.28 | 21.44 | 12.74 | 39.69 | 566.67 | 21.44 | -49.16 | 366.09 | 22.91 | -36.9 | 733.09 | 6.58 | -37.15 | 712.35 | 4.04 | -34.73 | 692.16 | 0.17 | 0.0 | -5.56 | 26.04 | -46.41 | 108.32 | 67.04 | 9.54 | 17.7 | 59.76 | 178.24 | 197.1 | 40.24 | -48.75 | -75.09 | 27.12 | 0.3 | -33.25 |
| 21Q3 (8) | 2.76 | 165.38 | 126.23 | 42.37 | 9.51 | -10.31 | 9.12 | -29.14 | -50.25 | 42.17 | 169.63 | 99.48 | 36.31 | 178.88 | 111.97 | 10.47 | 139.04 | 43.82 | 6.19 | 142.75 | 53.22 | 0.17 | -10.53 | -26.09 | 48.59 | 124.54 | 71.45 | 61.20 | -23.46 | -23.13 | 21.48 | -74.14 | -75.07 | 78.52 | 321.17 | 467.11 | 27.04 | 8.59 | -0.33 |
| 21Q2 (7) | 1.04 | 215.15 | 5.05 | 38.69 | -0.49 | -9.05 | 12.87 | 61.68 | -3.31 | 15.64 | 98.73 | -8.38 | 13.02 | 110.34 | -7.13 | 4.38 | 153.18 | -28.08 | 2.55 | 133.94 | -24.33 | 0.19 | 11.76 | -20.83 | 21.64 | 45.53 | -10.76 | 79.96 | 21.0 | -5.2 | 83.05 | -16.95 | 5.89 | 18.64 | 0 | -13.56 | 24.90 | -19.94 | 5.73 |
| 21Q1 (6) | 0.33 | 65.0 | 32.0 | 38.88 | -2.48 | 3.57 | 7.96 | 391.58 | 62.78 | 7.87 | 71.09 | 24.13 | 6.19 | 125.09 | 55.53 | 1.73 | 113.58 | 28.15 | 1.09 | 113.73 | 41.56 | 0.17 | -5.56 | -5.56 | 14.87 | 18.96 | -5.95 | 66.08 | 16.01 | -20.15 | 100.00 | 262.5 | 36.36 | 0.00 | -100.0 | -100.0 | 31.10 | -23.46 | -0.7 |
| 20Q4 (5) | 0.20 | -83.61 | -52.38 | 39.87 | -15.6 | -11.4 | -2.73 | -114.89 | -187.5 | 4.60 | -78.24 | -39.55 | 2.75 | -83.95 | -55.36 | 0.81 | -88.87 | -64.32 | 0.51 | -87.38 | -60.47 | 0.18 | -21.74 | -10.0 | 12.50 | -55.89 | -24.7 | 56.96 | -28.45 | -35.49 | -61.54 | -171.43 | -246.15 | 161.54 | 1066.67 | 179.02 | 40.63 | 49.76 | -0.59 |
| 20Q3 (4) | 1.22 | 23.23 | 0.0 | 47.24 | 11.05 | 0.0 | 18.33 | 37.72 | 0.0 | 21.14 | 23.84 | 0.0 | 17.13 | 22.18 | 0.0 | 7.28 | 19.54 | 0.0 | 4.04 | 19.88 | 0.0 | 0.23 | -4.17 | 0.0 | 28.34 | 16.87 | 0.0 | 79.61 | -5.62 | 0.0 | 86.15 | 9.85 | 0.0 | 13.85 | -35.8 | 0.0 | 27.13 | 15.2 | 0.0 |
| 20Q2 (3) | 0.99 | 296.0 | 0.0 | 42.54 | 13.32 | 0.0 | 13.31 | 172.19 | 0.0 | 17.07 | 169.24 | 0.0 | 14.02 | 252.26 | 0.0 | 6.09 | 351.11 | 0.0 | 3.37 | 337.66 | 0.0 | 0.24 | 33.33 | 0.0 | 24.25 | 53.38 | 0.0 | 84.35 | 1.93 | 0.0 | 78.43 | 6.95 | 0.0 | 21.57 | 7.84 | 0.0 | 23.55 | -24.81 | 0.0 |
| 20Q1 (2) | 0.25 | -40.48 | 0.0 | 37.54 | -16.58 | 0.0 | 4.89 | 56.73 | 0.0 | 6.34 | -16.69 | 0.0 | 3.98 | -35.39 | 0.0 | 1.35 | -40.53 | 0.0 | 0.77 | -40.31 | 0.0 | 0.18 | -10.0 | 0.0 | 15.81 | -4.76 | 0.0 | 82.75 | -6.29 | 0.0 | 73.33 | 74.17 | 0.0 | 20.00 | -65.45 | 0.0 | 31.32 | -23.37 | 0.0 |
| 19Q4 (1) | 0.42 | 0.0 | 0.0 | 45.00 | 0.0 | 0.0 | 3.12 | 0.0 | 0.0 | 7.61 | 0.0 | 0.0 | 6.16 | 0.0 | 0.0 | 2.27 | 0.0 | 0.0 | 1.29 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 16.60 | 0.0 | 0.0 | 88.30 | 0.0 | 0.0 | 42.11 | 0.0 | 0.0 | 57.89 | 0.0 | 0.0 | 40.87 | 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) | 4.42 | -35.85 | 43.72 | 8.27 | 12.77 | 128.85 | 2.81 | -34.79 | 15.12 | -35.38 | 11.56 | -38.61 | 12.57 | -42.07 | 6.98 | -43.71 | 0.58 | -9.38 | 18.93 | -33.76 | 88.28 | -1.78 | 84.39 | 253.37 | 15.61 | -79.49 | 0.29 | 9.35 | 20.46 | -21.7 |
| 2022 (9) | 6.89 | 15.6 | 40.38 | -4.43 | 5.58 | -48.48 | 4.31 | -21.87 | 23.40 | 6.22 | 18.83 | -5.42 | 21.70 | -3.64 | 12.40 | -11.24 | 0.64 | -8.57 | 28.58 | 1.89 | 89.88 | 34.07 | 23.88 | -51.31 | 76.12 | 49.4 | 0.26 | -33.05 | 26.13 | -4.6 |
| 2021 (8) | 5.96 | 126.62 | 42.25 | 0.33 | 10.83 | 21.41 | 5.51 | -25.48 | 22.03 | 71.71 | 19.91 | 99.9 | 22.52 | 86.58 | 13.97 | 91.63 | 0.70 | -2.78 | 28.05 | 36.23 | 67.04 | 17.7 | 49.05 | -29.37 | 50.95 | 66.74 | 0.39 | 77.9 | 27.39 | -9.96 |
| 2020 (7) | 2.63 | 80.14 | 42.11 | 0.91 | 8.92 | 72.87 | 7.40 | -21.77 | 12.83 | 56.65 | 9.96 | 56.85 | 12.07 | 40.02 | 7.29 | 38.59 | 0.72 | -10.0 | 20.59 | 13.44 | 56.96 | -35.49 | 69.44 | 10.82 | 30.56 | -18.15 | 0.22 | -28.12 | 30.42 | -3.8 |
| 2019 (6) | 1.46 | 10.61 | 41.73 | -6.96 | 5.16 | -39.22 | 9.46 | 30.99 | 8.19 | -32.65 | 6.35 | -21.51 | 8.62 | -10.77 | 5.26 | -16.24 | 0.80 | 3.9 | 18.15 | -7.63 | 88.30 | 68.74 | 62.67 | -10.9 | 37.33 | 25.83 | 0.31 | 0 | 31.62 | 2.8 |
| 2018 (5) | 1.32 | 24.53 | 44.85 | 6.36 | 8.49 | -8.51 | 7.22 | 19.43 | 12.16 | 48.29 | 8.09 | 44.21 | 9.66 | 34.54 | 6.28 | 35.34 | 0.77 | -6.1 | 19.65 | 34.68 | 52.33 | -7.4 | 70.33 | -38.59 | 29.67 | 0 | 0.00 | 0 | 30.76 | 8.65 |
| 2017 (4) | 1.06 | -4.5 | 42.17 | 0.79 | 9.28 | 86.35 | 6.04 | -24.95 | 8.20 | -9.69 | 5.61 | -16.64 | 7.18 | -0.28 | 4.64 | -0.43 | 0.82 | 22.39 | 14.59 | -17.94 | 56.51 | -0.96 | 114.52 | 108.21 | -12.90 | 0 | 0.00 | 0 | 28.31 | -2.58 |
| 2016 (3) | 1.11 | -25.5 | 41.84 | 3.82 | 4.98 | -19.42 | 8.05 | 21.29 | 9.08 | -16.31 | 6.73 | -14.7 | 7.20 | -27.2 | 4.66 | -24.96 | 0.67 | -12.99 | 17.78 | -2.47 | 57.06 | -6.66 | 55.00 | -2.87 | 45.00 | 3.75 | 0.00 | 0 | 29.06 | 17.22 |
| 2015 (2) | 1.49 | 30.7 | 40.30 | 8.83 | 6.18 | -6.08 | 6.64 | 6.39 | 10.85 | 34.78 | 7.89 | 28.92 | 9.89 | 21.2 | 6.21 | 24.45 | 0.77 | -2.53 | 18.23 | 22.6 | 61.13 | -5.84 | 56.63 | -30.92 | 43.37 | 140.53 | 0.00 | 0 | 24.79 | -1.31 |
| 2014 (1) | 1.14 | 75.38 | 37.03 | 0 | 6.58 | 0 | 6.24 | -7.65 | 8.05 | 0 | 6.12 | 0 | 8.16 | 0 | 4.99 | 0 | 0.79 | 0.0 | 14.87 | 33.12 | 64.92 | -12.44 | 81.97 | 260.66 | 18.03 | -76.66 | 0.00 | 0 | 25.12 | 0.92 |
