- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q1 (20) | 3.59 | 20.07 | 7.81 | 61.71 | 6.09 | 0.42 | 34.35 | 7.21 | 2.6 | 35.07 | 9.32 | 5.73 | 27.87 | 8.74 | 5.41 | 9.41 | 20.49 | -5.52 | 5.74 | 11.03 | -1.88 | 0.20 | 0.0 | -9.09 | 46.59 | 5.15 | 6.44 | 79.31 | 48.33 | -8.3 | 97.87 | -1.82 | -2.98 | 2.13 | 0 | 341.84 | 16.44 | 8.44 | 0.98 |
| 23Q4 (19) | 2.99 | -4.78 | -1.97 | 58.17 | -2.1 | -5.55 | 32.04 | 2.99 | 0.09 | 32.08 | 1.78 | 0.94 | 25.63 | 0.51 | -0.39 | 7.81 | -12.64 | -14.08 | 5.17 | -7.18 | -9.93 | 0.20 | -9.09 | -9.09 | 44.31 | 4.11 | 4.04 | 53.47 | 1.77 | -9.76 | 99.69 | 1.2 | -1.29 | 0.00 | -100.0 | 100.0 | 15.16 | -10.3 | -4.83 |
| 23Q3 (18) | 3.14 | -3.38 | 21.71 | 59.42 | -2.33 | -2.84 | 31.11 | -2.6 | 6.25 | 31.52 | -2.87 | 5.0 | 25.50 | -4.53 | 9.16 | 8.94 | -7.74 | 4.07 | 5.57 | 2.2 | 5.69 | 0.22 | 10.0 | 0.0 | 42.56 | -2.92 | 3.96 | 52.54 | -28.73 | -14.0 | 98.51 | 0.05 | 1.09 | 1.19 | -22.63 | -53.26 | 16.90 | -2.48 | -6.99 |
| 23Q2 (17) | 3.25 | -2.4 | 32.11 | 60.84 | -0.99 | 0.08 | 31.94 | -4.6 | 8.2 | 32.45 | -2.17 | 7.2 | 26.71 | 1.02 | 11.06 | 9.69 | -2.71 | 16.19 | 5.45 | -6.84 | 14.5 | 0.20 | -9.09 | 0.0 | 43.84 | 0.16 | 4.18 | 73.72 | -14.76 | 5.62 | 98.46 | -2.4 | 0.99 | 1.54 | 275.41 | -38.53 | 17.33 | 6.45 | -5.87 |
| 23Q1 (16) | 3.33 | 9.18 | 18.93 | 61.45 | -0.23 | 0.13 | 33.48 | 4.59 | 1.82 | 33.17 | 4.37 | 0.73 | 26.44 | 2.76 | 0.92 | 9.96 | 9.57 | 2.68 | 5.85 | 1.92 | 3.36 | 0.22 | 0.0 | 4.76 | 43.77 | 2.77 | 0.25 | 86.49 | 45.97 | 0.01 | 100.88 | -0.11 | 0.88 | -0.88 | -33.72 | 0 | 16.28 | 2.2 | -6.54 |
| 22Q4 (15) | 3.05 | 18.22 | 26.03 | 61.59 | 0.7 | -2.19 | 32.01 | 9.32 | 1.72 | 31.78 | 5.86 | 2.02 | 25.73 | 10.15 | 3.13 | 9.09 | 5.82 | 10.45 | 5.74 | 8.92 | 11.89 | 0.22 | 0.0 | 10.0 | 42.59 | 4.03 | -0.98 | 59.25 | -3.01 | -2.92 | 100.99 | 3.63 | 0.12 | -0.66 | -125.75 | 24.34 | 15.93 | -12.33 | -12.52 |
| 22Q3 (14) | 2.58 | 4.88 | 45.76 | 61.16 | 0.61 | -0.16 | 29.28 | -0.81 | 9.87 | 30.02 | -0.83 | 13.45 | 23.36 | -2.87 | 12.8 | 8.59 | 3.0 | 28.21 | 5.27 | 10.71 | 31.75 | 0.22 | 10.0 | 15.79 | 40.94 | -2.71 | 4.31 | 61.09 | -12.48 | -6.15 | 97.45 | -0.05 | -3.1 | 2.55 | 1.76 | 552.19 | 18.17 | -1.3 | -11.11 |
| 22Q2 (13) | 2.46 | -12.14 | 47.31 | 60.79 | -0.95 | 0.23 | 29.52 | -10.22 | 9.74 | 30.27 | -8.08 | 13.41 | 24.05 | -8.21 | 10.17 | 8.34 | -14.02 | 20.35 | 4.76 | -15.9 | 18.7 | 0.20 | -4.76 | 11.11 | 42.08 | -3.62 | 4.78 | 69.80 | -19.29 | -10.1 | 97.49 | -2.51 | -3.1 | 2.51 | 0 | 511.72 | 18.41 | 5.68 | -9.49 |
| 22Q1 (12) | 2.80 | 15.7 | 42.86 | 61.37 | -2.54 | -3.78 | 32.88 | 4.48 | 4.12 | 32.93 | 5.71 | 4.54 | 26.20 | 5.01 | 3.93 | 9.70 | 17.86 | 23.25 | 5.66 | 10.33 | 16.7 | 0.21 | 5.0 | 10.53 | 43.66 | 1.51 | -1.36 | 86.48 | 41.7 | 16.57 | 100.00 | -0.86 | -0.52 | 0.00 | 100.0 | 0 | 17.42 | -4.34 | -9.65 |
| 21Q4 (11) | 2.42 | 36.72 | 44.91 | 62.97 | 2.79 | 0.29 | 31.47 | 18.09 | 11.56 | 31.15 | 17.72 | 12.01 | 24.95 | 20.47 | 11.98 | 8.23 | 22.84 | 26.62 | 5.13 | 28.25 | 23.91 | 0.20 | 5.26 | 11.11 | 43.01 | 9.58 | 5.96 | 61.03 | -6.24 | 10.18 | 100.87 | 0.3 | -0.38 | -0.87 | -53.91 | 30.43 | 18.21 | -10.91 | -11.08 |
| 21Q3 (10) | 1.77 | 5.99 | -11.5 | 61.26 | 1.01 | -3.59 | 26.65 | -0.93 | -16.82 | 26.46 | -0.86 | -19.28 | 20.71 | -5.13 | -21.7 | 6.70 | -3.32 | -23.34 | 4.00 | -0.25 | -24.95 | 0.19 | 5.56 | -5.0 | 39.25 | -2.27 | -11.46 | 65.09 | -16.16 | 1.28 | 100.56 | -0.04 | 3.18 | -0.56 | 7.34 | -127.82 | 20.44 | 0.49 | 6.68 |
| 21Q2 (9) | 1.67 | -14.8 | 10.6 | 60.65 | -4.91 | 1.07 | 26.90 | -14.82 | -7.78 | 26.69 | -15.27 | -10.01 | 21.83 | -13.41 | -10.24 | 6.93 | -11.94 | -1.28 | 4.01 | -17.32 | -5.42 | 0.18 | -5.26 | 5.88 | 40.16 | -9.26 | -7.44 | 77.64 | 4.65 | 13.34 | 100.61 | 0.09 | 2.75 | -0.61 | 0 | -143.9 | 20.34 | 5.5 | 0 |
| 21Q1 (8) | 1.96 | 17.37 | 67.52 | 63.78 | 1.58 | 7.23 | 31.58 | 11.95 | 23.31 | 31.50 | 13.27 | 21.72 | 25.21 | 13.15 | 24.74 | 7.87 | 21.08 | 63.62 | 4.85 | 17.15 | 59.54 | 0.19 | 5.56 | 26.67 | 44.26 | 9.04 | 4.07 | 74.19 | 33.94 | 7.04 | 100.52 | -0.72 | 1.52 | 0.00 | 100.0 | -100.0 | 19.28 | -5.86 | 0 |
| 20Q4 (7) | 1.67 | -16.5 | 94.19 | 62.79 | -1.18 | 4.29 | 28.21 | -11.95 | 52.65 | 27.81 | -15.16 | 55.1 | 22.28 | -15.77 | 64.91 | 6.50 | -25.63 | 108.33 | 4.14 | -22.33 | 100.97 | 0.18 | -10.0 | 20.0 | 40.59 | -8.44 | 16.37 | 55.39 | -13.82 | -1.34 | 101.25 | 3.89 | -1.6 | -1.25 | -161.56 | 56.88 | 20.48 | 6.89 | -3.98 |
| 20Q3 (6) | 2.00 | 32.45 | 189.86 | 63.54 | 5.88 | 13.06 | 32.04 | 9.84 | 100.75 | 32.78 | 10.52 | 108.79 | 26.45 | 8.76 | 118.78 | 8.74 | 24.5 | 224.91 | 5.33 | 25.71 | 208.09 | 0.20 | 17.65 | 42.86 | 44.33 | 2.17 | 31.9 | 64.27 | -6.18 | 6.13 | 97.46 | -0.46 | -4.22 | 2.03 | 46.19 | 215.74 | 19.16 | 0 | -15.85 |
| 20Q2 (5) | 1.51 | 29.06 | 57.29 | 60.01 | 0.89 | 2.01 | 29.17 | 13.9 | 43.91 | 29.66 | 14.61 | 29.46 | 24.32 | 20.34 | 43.57 | 7.02 | 45.95 | 88.2 | 4.24 | 39.47 | 81.2 | 0.17 | 13.33 | 30.77 | 43.39 | 2.02 | 6.69 | 68.50 | -1.17 | 1.95 | 97.92 | -1.11 | 9.99 | 1.39 | 41.67 | -87.35 | 0.00 | 0 | -100.0 |
| 20Q1 (4) | 1.17 | 36.05 | 0.0 | 59.48 | -1.21 | 0.0 | 25.61 | 38.58 | 0.0 | 25.88 | 44.34 | 0.0 | 20.21 | 49.59 | 0.0 | 4.81 | 54.17 | 0.0 | 3.04 | 47.57 | 0.0 | 0.15 | 0.0 | 0.0 | 42.53 | 21.93 | 0.0 | 69.31 | 23.46 | 0.0 | 99.02 | -3.77 | 0.0 | 0.98 | 133.82 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (3) | 0.86 | 24.64 | 0.0 | 60.21 | 7.14 | 0.0 | 18.48 | 15.79 | 0.0 | 17.93 | 14.2 | 0.0 | 13.51 | 11.75 | 0.0 | 3.12 | 15.99 | 0.0 | 2.06 | 19.08 | 0.0 | 0.15 | 7.14 | 0.0 | 34.88 | 3.78 | 0.0 | 56.14 | -7.3 | 0.0 | 102.90 | 1.12 | 0.0 | -2.90 | -65.22 | 0.0 | 21.33 | -6.32 | 0.0 |
| 19Q3 (2) | 0.69 | -28.13 | 0.0 | 56.20 | -4.47 | 0.0 | 15.96 | -21.26 | 0.0 | 15.70 | -31.47 | 0.0 | 12.09 | -28.63 | 0.0 | 2.69 | -27.88 | 0.0 | 1.73 | -26.07 | 0.0 | 0.14 | 7.69 | 0.0 | 33.61 | -17.36 | 0.0 | 60.56 | -9.87 | 0.0 | 101.75 | 14.3 | 0.0 | -1.75 | -115.98 | 0.0 | 22.77 | 2.15 | 0.0 |
| 19Q2 (1) | 0.96 | 0.0 | 0.0 | 58.83 | 0.0 | 0.0 | 20.27 | 0.0 | 0.0 | 22.91 | 0.0 | 0.0 | 16.94 | 0.0 | 0.0 | 3.73 | 0.0 | 0.0 | 2.34 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 40.67 | 0.0 | 0.0 | 67.19 | 0.0 | 0.0 | 89.02 | 0.0 | 0.0 | 10.98 | 0.0 | 0.0 | 22.29 | 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) | 12.34 | 15.98 | 59.98 | -2.06 | 32.14 | 3.88 | 10.83 | 2.81 | 32.30 | 3.33 | 26.06 | 4.87 | 34.48 | 2.44 | 22.35 | 4.98 | 0.85 | 0.0 | 43.63 | 3.14 | 53.47 | -9.76 | 99.47 | 0.48 | 0.53 | -47.32 | 0.45 | -22.31 | 16.42 | -5.79 |
| 2022 (9) | 10.64 | 36.06 | 61.24 | -1.51 | 30.94 | 5.96 | 10.53 | -12.0 | 31.26 | 7.79 | 24.85 | 7.11 | 33.66 | 20.39 | 21.29 | 18.54 | 0.85 | 11.84 | 42.30 | 1.59 | 59.25 | -2.92 | 98.99 | -1.78 | 1.01 | 0 | 0.58 | -19.86 | 17.43 | -10.75 |
| 2021 (8) | 7.82 | 23.15 | 62.18 | 0.75 | 29.20 | 0.52 | 11.97 | -5.5 | 29.00 | -1.13 | 23.20 | -1.61 | 27.96 | 7.83 | 17.96 | 5.96 | 0.76 | 7.04 | 41.64 | -2.53 | 61.03 | 10.18 | 100.79 | 1.63 | -0.66 | 0 | 0.72 | -15.49 | 19.53 | 1.24 |
| 2020 (7) | 6.35 | 102.88 | 61.72 | 7.19 | 29.05 | 66.86 | 12.66 | -26.05 | 29.33 | 63.22 | 23.58 | 74.54 | 25.93 | 123.53 | 16.95 | 99.65 | 0.71 | 18.33 | 42.72 | 18.4 | 55.39 | -1.34 | 99.17 | 2.38 | 1.00 | -68.23 | 0.85 | 222.18 | 19.29 | -13.92 |
| 2019 (6) | 3.13 | 47.64 | 57.58 | 6.26 | 17.41 | 48.8 | 17.12 | 61.13 | 17.97 | 29.75 | 13.51 | 34.29 | 11.60 | 53.85 | 8.49 | 42.45 | 0.60 | 3.45 | 36.08 | 45.66 | 56.14 | 85.1 | 96.86 | 14.85 | 3.14 | -79.97 | 0.26 | 10.91 | 22.41 | -6.2 |
| 2018 (5) | 2.12 | 28.48 | 54.19 | -0.07 | 11.70 | -1.76 | 10.63 | -8.01 | 13.85 | 26.48 | 10.06 | 20.19 | 7.54 | 14.07 | 5.96 | 21.38 | 0.58 | 0.0 | 24.77 | 8.93 | 30.33 | 13.85 | 84.34 | -22.85 | 15.66 | 0 | 0.24 | 0 | 23.89 | 9.19 |
| 2017 (4) | 1.65 | 18.71 | 54.23 | -1.54 | 11.91 | 12.36 | 11.55 | 4.17 | 10.95 | 6.21 | 8.37 | -2.22 | 6.61 | -16.86 | 4.91 | -5.76 | 0.58 | -1.69 | 22.74 | 3.84 | 26.64 | -46.99 | 109.32 | 6.45 | -8.47 | 0 | 0.00 | 0 | 21.88 | -9.81 |
| 2016 (3) | 1.39 | 13.01 | 55.08 | -1.24 | 10.60 | 16.61 | 11.09 | 4.13 | 10.31 | 4.25 | 8.56 | 7.13 | 7.95 | 12.29 | 5.21 | 13.02 | 0.59 | 7.27 | 21.90 | 3.79 | 50.25 | -21.94 | 102.70 | 11.63 | -2.70 | 0 | 0.00 | 0 | 24.26 | -0.66 |
| 2015 (2) | 1.23 | -20.13 | 55.77 | 1.12 | 9.09 | -8.37 | 10.65 | 8.49 | 9.89 | -19.85 | 7.99 | -22.28 | 7.08 | -21.94 | 4.61 | -30.15 | 0.55 | -11.29 | 21.10 | -6.51 | 64.37 | 10.91 | 92.00 | 14.53 | 8.00 | -59.33 | 0.00 | 0 | 24.42 | 4.94 |
| 2014 (1) | 1.54 | 17.56 | 55.15 | 0 | 9.92 | 0 | 9.82 | 7.06 | 12.34 | 0 | 10.28 | 0 | 9.07 | 0 | 6.60 | 0 | 0.62 | -11.43 | 22.57 | 9.4 | 58.04 | 138.95 | 80.33 | -9.85 | 19.67 | 65.57 | 0.00 | 0 | 23.27 | -4.0 |
