- 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) | 0.78 | 30.0 | 105.26 | 50.32 | 5.1 | 7.77 | 22.70 | -14.31 | 20.04 | 35.22 | 67.55 | 74.18 | 29.70 | 72.47 | 75.74 | 3.99 | 35.71 | 89.1 | 3.29 | 26.54 | 70.47 | 0.11 | -26.67 | 0.0 | 37.44 | 63.21 | 57.58 | 30.42 | 132.57 | 124.67 | 64.86 | -48.28 | -29.41 | 35.14 | 238.2 | 550.0 | 19.58 | 36.26 | 0.05 |
| 23Q4 (19) | 0.60 | -46.43 | 850.0 | 47.88 | 0.76 | 3.06 | 26.49 | -5.09 | 428.66 | 21.02 | -34.5 | 397.31 | 17.22 | -37.68 | 337.19 | 2.94 | -48.87 | 800.0 | 2.60 | -49.32 | 766.67 | 0.15 | -21.05 | 200.0 | 22.94 | -32.23 | 0 | 13.08 | -0.08 | 103.42 | 125.42 | 43.34 | 7.51 | -25.42 | -288.86 | -52.54 | 14.37 | -5.09 | -56.04 |
| 23Q3 (18) | 1.12 | 9.8 | 1300.0 | 47.52 | -2.72 | 5.6 | 27.91 | -0.14 | 1059.11 | 32.09 | -1.99 | 426.07 | 27.63 | -1.43 | 344.21 | 5.75 | 3.98 | 1269.05 | 5.13 | 4.27 | 1215.38 | 0.19 | 5.56 | 216.67 | 33.85 | -2.17 | 204.68 | 13.09 | 15.64 | 73.61 | 87.50 | 2.62 | 275.0 | 13.46 | -8.65 | -91.03 | 15.14 | -5.32 | -38.93 |
| 23Q2 (17) | 1.02 | 168.42 | 78.95 | 48.85 | 4.63 | -5.91 | 27.95 | 47.81 | 48.2 | 32.74 | 61.92 | 6.02 | 28.03 | 65.86 | -1.68 | 5.53 | 162.09 | 75.56 | 4.92 | 154.92 | 97.59 | 0.18 | 63.64 | 100.0 | 34.60 | 45.62 | 0.64 | 11.32 | -16.4 | 23.45 | 85.26 | -7.21 | 39.26 | 14.74 | 172.63 | -61.99 | 15.99 | -18.29 | -26.45 |
| 23Q1 (16) | 0.38 | 575.0 | -54.76 | 46.69 | 0.5 | -12.2 | 18.91 | 334.62 | -34.27 | 20.22 | 386.0 | -46.66 | 16.90 | 332.78 | -49.9 | 2.11 | 602.38 | -49.88 | 1.93 | 594.87 | -41.52 | 0.11 | 120.0 | 10.0 | 23.76 | 0 | -41.92 | 13.54 | 110.58 | -69.48 | 91.89 | -21.24 | 20.91 | 5.41 | 132.43 | -77.48 | 19.57 | -40.13 | -0.66 |
| 22Q4 (15) | -0.08 | -200.0 | -107.84 | 46.46 | 3.24 | -13.51 | -8.06 | -176.98 | -123.95 | -7.07 | -215.9 | -119.92 | -7.26 | -216.72 | -126.93 | -0.42 | -200.0 | -108.77 | -0.39 | -200.0 | -109.29 | 0.05 | -16.67 | -68.75 | 0.00 | -100.0 | -100.0 | 6.43 | -14.72 | -53.51 | 116.67 | 333.33 | 22.39 | -16.67 | -111.11 | -397.22 | 32.69 | 31.87 | 148.78 |
| 22Q3 (14) | 0.08 | -85.96 | -95.35 | 45.00 | -13.33 | -19.81 | -2.91 | -115.43 | -107.29 | 6.10 | -80.25 | -85.16 | 6.22 | -78.18 | -82.79 | 0.42 | -86.67 | -94.78 | 0.39 | -84.34 | -94.44 | 0.06 | -33.33 | -68.42 | 11.11 | -67.68 | -74.01 | 7.54 | -17.78 | -47.05 | -50.00 | -181.67 | -151.66 | 150.00 | 286.84 | 5750.0 | 24.79 | 14.03 | 85.97 |
| 22Q2 (13) | 0.57 | -32.14 | -58.7 | 51.92 | -2.37 | -3.21 | 18.86 | -34.45 | -49.44 | 30.88 | -18.54 | -11.24 | 28.51 | -15.48 | -4.26 | 3.15 | -25.18 | -46.7 | 2.49 | -24.55 | -51.46 | 0.09 | -10.0 | -47.06 | 34.38 | -15.96 | -6.37 | 9.17 | -79.33 | -39.87 | 61.22 | -19.44 | -42.69 | 38.78 | 61.56 | 667.09 | 21.74 | 10.36 | 61.16 |
| 22Q1 (12) | 0.84 | -17.65 | -26.32 | 53.18 | -1.01 | 1.49 | 28.77 | -14.53 | -8.23 | 37.91 | 6.79 | 11.8 | 33.73 | 25.11 | 13.84 | 4.21 | -12.11 | -18.41 | 3.30 | -21.43 | -26.5 | 0.10 | -37.5 | -33.33 | 40.91 | 9.71 | 13.01 | 44.37 | 220.82 | 194.04 | 76.00 | -20.27 | -17.01 | 24.00 | 328.0 | 225.71 | 19.70 | 49.92 | 19.03 |
| 21Q4 (11) | 1.02 | -40.7 | -12.82 | 53.72 | -4.28 | 11.34 | 33.66 | -15.72 | 12.95 | 35.50 | -13.63 | 30.28 | 26.96 | -25.42 | 15.21 | 4.79 | -40.5 | -13.22 | 4.20 | -40.17 | -12.5 | 0.16 | -15.79 | -20.0 | 37.29 | -12.75 | 28.36 | 13.83 | -2.88 | -7.74 | 95.33 | -1.52 | -12.69 | 5.61 | 118.69 | 161.06 | 13.14 | -1.43 | -4.99 |
| 21Q3 (10) | 1.72 | 24.64 | 68.63 | 56.12 | 4.62 | 16.55 | 39.94 | 7.08 | 33.49 | 41.10 | 18.14 | 45.49 | 36.15 | 21.39 | 53.7 | 8.05 | 36.21 | 53.92 | 7.02 | 36.84 | 64.4 | 0.19 | 11.76 | 5.56 | 42.74 | 16.39 | 40.82 | 14.24 | -6.62 | -8.6 | 96.79 | -9.4 | -9.38 | 2.56 | 137.5 | 145.13 | 13.33 | -1.19 | -13.5 |
| 21Q2 (9) | 1.38 | 21.05 | 130.0 | 53.64 | 2.37 | 14.05 | 37.30 | 18.98 | 71.89 | 34.79 | 2.6 | 69.54 | 29.78 | 0.51 | 67.49 | 5.91 | 14.53 | 88.82 | 5.13 | 14.25 | 96.55 | 0.17 | 13.33 | 13.33 | 36.72 | 1.44 | 54.48 | 15.25 | 1.06 | -49.87 | 106.84 | 16.66 | 0.79 | -6.84 | -192.8 | -13.96 | 13.49 | -18.49 | -21.93 |
| 21Q1 (8) | 1.14 | -2.56 | 100.0 | 52.40 | 8.6 | 19.42 | 31.35 | 5.2 | 140.05 | 33.91 | 24.44 | 33.45 | 29.63 | 26.62 | 18.95 | 5.16 | -6.52 | 93.26 | 4.49 | -6.46 | 84.02 | 0.15 | -25.0 | 50.0 | 36.20 | 24.61 | 20.91 | 15.09 | 0.67 | 45.66 | 91.58 | -16.12 | 83.16 | 7.37 | 180.23 | -84.49 | 16.55 | 19.67 | -23.73 |
| 20Q4 (7) | 1.17 | 14.71 | 129.41 | 48.25 | 0.21 | 1.94 | 29.80 | -0.4 | 38.35 | 27.25 | -3.54 | 57.88 | 23.40 | -0.51 | 45.79 | 5.52 | 5.54 | 130.96 | 4.80 | 12.41 | 116.22 | 0.20 | 11.11 | 42.86 | 29.05 | -4.28 | 39.6 | 14.99 | -3.79 | 75.12 | 109.18 | 2.21 | -13.56 | -9.18 | -61.63 | 61.22 | 13.83 | -10.25 | 0 |
| 20Q3 (6) | 1.02 | 70.0 | 45.71 | 48.15 | 2.38 | -0.21 | 29.92 | 37.88 | 23.53 | 28.25 | 37.67 | 11.44 | 23.52 | 32.28 | 2.44 | 5.23 | 67.09 | 55.65 | 4.27 | 63.6 | 49.3 | 0.18 | 20.0 | 50.0 | 30.35 | 27.68 | 2.6 | 15.58 | -48.78 | 108.57 | 106.82 | 0.77 | 10.93 | -5.68 | 5.3 | -253.41 | 15.41 | -10.82 | -0.71 |
| 20Q2 (5) | 0.60 | 5.26 | 650.0 | 47.03 | 7.18 | 30.82 | 21.70 | 66.16 | 377.85 | 20.52 | -19.24 | 468.42 | 17.78 | -28.62 | 360.62 | 3.13 | 17.23 | 820.59 | 2.61 | 6.97 | 770.0 | 0.15 | 50.0 | 87.5 | 23.77 | -20.61 | 73.88 | 30.42 | 193.63 | 7.34 | 106.00 | 112.0 | 148.18 | -6.00 | -112.63 | -101.88 | 17.28 | -20.37 | -40.64 |
| 20Q1 (4) | 0.57 | 11.76 | 0.0 | 43.88 | -7.29 | 0.0 | 13.06 | -39.37 | 0.0 | 25.41 | 47.22 | 0.0 | 24.91 | 55.2 | 0.0 | 2.67 | 11.72 | 0.0 | 2.44 | 9.91 | 0.0 | 0.10 | -28.57 | 0.0 | 29.94 | 43.87 | 0.0 | 10.36 | 21.03 | 0.0 | 50.00 | -60.42 | 0.0 | 47.50 | 300.56 | 0.0 | 21.70 | 0 | 0.0 |
| 19Q4 (3) | 0.51 | -27.14 | 0.0 | 47.33 | -1.91 | 0.0 | 21.54 | -11.07 | 0.0 | 17.26 | -31.91 | 0.0 | 16.05 | -30.1 | 0.0 | 2.39 | -28.87 | 0.0 | 2.22 | -22.38 | 0.0 | 0.14 | 16.67 | 0.0 | 20.81 | -29.65 | 0.0 | 8.56 | 14.59 | 0.0 | 126.32 | 31.17 | 0.0 | -23.68 | -739.47 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (2) | 0.70 | 775.0 | 0.0 | 48.25 | 34.21 | 0.0 | 24.22 | 410.12 | 0.0 | 25.35 | 602.22 | 0.0 | 22.96 | 494.82 | 0.0 | 3.36 | 888.24 | 0.0 | 2.86 | 853.33 | 0.0 | 0.12 | 50.0 | 0.0 | 29.58 | 116.39 | 0.0 | 7.47 | -73.64 | 0.0 | 96.30 | 143.77 | 0.0 | 3.70 | -98.84 | 0.0 | 15.52 | -46.68 | 0.0 |
| 19Q2 (1) | 0.08 | 0.0 | 0.0 | 35.95 | 0.0 | 0.0 | -7.81 | 0.0 | 0.0 | 3.61 | 0.0 | 0.0 | 3.86 | 0.0 | 0.0 | 0.34 | 0.0 | 0.0 | 0.30 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | 13.67 | 0.0 | 0.0 | 28.34 | 0.0 | 0.0 | -220.00 | 0.0 | 0.0 | 320.00 | 0.0 | 0.0 | 29.11 | 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) | 3.12 | 121.28 | 47.83 | -4.83 | 26.03 | 82.54 | 1.96 | -51.83 | 27.39 | 19.4 | 23.22 | 12.12 | 15.95 | 128.51 | 14.51 | 129.23 | 0.62 | 100.0 | 29.42 | 8.48 | 13.08 | 103.42 | 95.24 | 53.37 | 5.10 | -86.54 | 0.16 | 150.53 | 15.92 | -31.62 |
| 2022 (9) | 1.41 | -71.97 | 50.26 | -7.13 | 14.26 | -60.32 | 4.06 | 128.72 | 22.94 | -37.34 | 20.71 | -33.09 | 6.98 | -71.23 | 6.33 | -70.18 | 0.31 | -55.07 | 27.12 | -29.43 | 6.43 | -53.51 | 62.10 | -36.7 | 37.90 | 1900.45 | 0.06 | 27.03 | 23.28 | 66.05 |
| 2021 (8) | 5.03 | 50.6 | 54.12 | 14.42 | 35.94 | 40.72 | 1.77 | -26.9 | 36.61 | 42.23 | 30.95 | 38.29 | 24.26 | 54.92 | 21.23 | 51.43 | 0.69 | 9.52 | 38.43 | 35.84 | 13.83 | -7.74 | 98.11 | -1.18 | 1.89 | 161.47 | 0.05 | -9.76 | 14.02 | -11.04 |
| 2020 (7) | 3.34 | 149.25 | 47.30 | 11.27 | 25.54 | 171.41 | 2.43 | -62.88 | 25.74 | 76.06 | 22.38 | 65.29 | 15.66 | 169.07 | 14.02 | 161.57 | 0.63 | 61.54 | 28.29 | 32.38 | 14.99 | 75.12 | 99.28 | 54.26 | 0.72 | -97.97 | 0.06 | -9.14 | 15.76 | -35.28 |
| 2019 (6) | 1.34 | -17.79 | 42.51 | -2.83 | 9.41 | 54.26 | 6.54 | -20.69 | 14.62 | -11.5 | 13.54 | -7.26 | 5.82 | -15.04 | 5.36 | -14.38 | 0.39 | -9.3 | 21.37 | -14.07 | 8.56 | -10.83 | 64.36 | 75.27 | 35.64 | -43.67 | 0.06 | 14.17 | 24.35 | 11.14 |
| 2018 (5) | 1.63 | 59.8 | 43.75 | -4.91 | 6.10 | -50.29 | 8.25 | -0.38 | 16.52 | 58.85 | 14.60 | 57.16 | 6.85 | 55.68 | 6.26 | 56.5 | 0.43 | 0.0 | 24.87 | 32.36 | 9.60 | 4.12 | 36.72 | -68.81 | 63.28 | 0 | 0.05 | 0 | 21.91 | 26.72 |
| 2017 (4) | 1.02 | -46.32 | 46.01 | -3.79 | 12.27 | -17.26 | 8.28 | 18.29 | 10.40 | -35.56 | 9.29 | -36.37 | 4.40 | -44.16 | 4.00 | -43.66 | 0.43 | -12.24 | 18.79 | -19.18 | 9.22 | -14.87 | 117.72 | 28.08 | -17.72 | 0 | 0.00 | 0 | 17.29 | 0.99 |
| 2016 (3) | 1.90 | -20.5 | 47.82 | -5.72 | 14.83 | -15.83 | 7.00 | 10.81 | 16.14 | -23.98 | 14.60 | -11.94 | 7.88 | -15.36 | 7.10 | -14.56 | 0.49 | -2.0 | 23.25 | -16.13 | 10.83 | -6.72 | 91.91 | 10.17 | 8.09 | -52.78 | 0.00 | 0 | 17.12 | -11.02 |
| 2015 (2) | 2.39 | -57.17 | 50.72 | -11.51 | 17.62 | -43.09 | 6.32 | 58.68 | 21.23 | -40.25 | 16.58 | -45.04 | 9.31 | -56.37 | 8.31 | -56.22 | 0.50 | -20.63 | 27.72 | -30.0 | 11.61 | -7.05 | 83.43 | -4.24 | 17.13 | 32.92 | 0.00 | 0 | 19.24 | 21.93 |
| 2014 (1) | 5.58 | 15.05 | 57.32 | 0 | 30.96 | 0 | 3.98 | 39.3 | 35.53 | 0 | 30.17 | 0 | 21.34 | 0 | 18.98 | 0 | 0.63 | 1.61 | 39.60 | 23.87 | 12.49 | -0.72 | 87.11 | -5.25 | 12.89 | 69.92 | 0.00 | 0 | 15.78 | -17.21 |
