- 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) | 1.28 | -16.88 | -31.18 | 23.98 | -5.22 | -21.22 | 17.65 | -7.69 | -20.53 | 21.15 | -10.87 | -35.81 | 16.70 | -18.62 | -36.6 | 2.91 | -19.17 | -33.41 | 2.30 | -12.21 | -30.51 | 0.14 | 7.69 | 16.67 | 37.67 | -7.19 | -24.9 | 21.14 | -41.49 | -26.06 | 83.71 | 3.89 | 24.0 | 16.74 | -13.8 | -48.47 | 25.08 | -8.57 | -5.32 |
| 24Q2 (19) | 1.54 | -17.2 | -19.37 | 25.30 | -10.03 | -17.59 | 19.12 | -10.74 | -18.15 | 23.73 | -25.05 | -26.83 | 20.52 | -18.99 | -28.85 | 3.60 | -17.05 | -24.05 | 2.62 | -19.88 | -23.17 | 0.13 | 0.0 | 8.33 | 40.59 | -16.4 | -19.62 | 36.13 | -13.17 | -7.97 | 80.58 | 19.36 | 12.04 | 19.42 | -39.64 | -30.84 | 27.43 | -5.12 | -1.93 |
| 24Q1 (18) | 1.86 | 72.22 | 40.91 | 28.12 | -6.02 | -3.76 | 21.42 | -13.1 | -4.12 | 31.66 | 66.37 | 23.38 | 25.33 | 63.31 | 20.91 | 4.34 | 77.14 | 34.78 | 3.27 | 66.84 | 34.57 | 0.13 | 8.33 | 18.18 | 48.55 | 31.97 | 9.05 | 41.61 | 53.09 | -1.89 | 67.51 | -47.85 | -22.65 | 32.18 | 209.28 | 152.82 | 28.91 | 11.15 | 3.73 |
| 23Q4 (17) | 1.08 | -41.94 | 14.89 | 29.92 | -1.71 | -2.98 | 24.65 | 10.99 | -1.56 | 19.03 | -42.25 | 3.26 | 15.51 | -41.12 | 7.63 | 2.45 | -43.94 | 11.36 | 1.96 | -40.79 | 11.36 | 0.12 | 0.0 | 0.0 | 36.79 | -26.65 | -2.85 | 27.18 | -4.93 | -0.55 | 129.44 | 91.75 | -4.8 | -29.44 | -190.62 | 18.15 | 26.01 | -1.81 | 3.63 |
| 23Q3 (16) | 1.86 | -2.62 | 2.2 | 30.44 | -0.85 | -9.54 | 22.21 | -4.92 | -18.67 | 32.95 | 1.6 | 4.34 | 26.34 | -8.67 | 2.97 | 4.37 | -7.81 | -2.02 | 3.31 | -2.93 | -2.07 | 0.12 | 0.0 | -7.69 | 50.16 | -0.67 | 1.99 | 28.59 | -27.18 | 0.28 | 67.51 | -6.13 | -22.05 | 32.49 | 15.7 | 142.5 | 26.49 | -5.29 | 9.87 |
| 23Q2 (15) | 1.91 | 44.7 | -16.96 | 30.70 | 5.07 | -11.76 | 23.36 | 4.57 | -17.69 | 32.43 | 26.38 | 1.38 | 28.84 | 37.66 | 2.71 | 4.74 | 47.2 | -22.68 | 3.41 | 40.33 | -24.22 | 0.12 | 9.09 | -25.0 | 50.50 | 13.43 | 8.49 | 39.26 | -7.43 | 2.4 | 71.92 | -17.59 | -19.01 | 28.08 | 120.65 | 150.63 | 27.97 | 0.36 | 12.42 |
| 23Q1 (14) | 1.32 | 40.43 | -20.96 | 29.22 | -5.25 | -10.29 | 22.34 | -10.78 | -14.04 | 25.66 | 39.23 | -12.45 | 20.95 | 45.39 | -10.66 | 3.22 | 46.36 | -30.9 | 2.43 | 38.07 | -31.16 | 0.11 | -8.33 | -26.67 | 44.52 | 17.56 | 0.54 | 42.41 | 55.18 | 18.4 | 87.27 | -35.82 | -1.3 | 12.73 | 135.38 | 13.35 | 27.87 | 11.04 | 5.97 |
| 22Q4 (13) | 0.94 | -48.35 | 6.82 | 30.84 | -8.35 | 25.98 | 25.04 | -8.31 | 39.27 | 18.43 | -41.64 | 1.65 | 14.41 | -43.67 | 0.84 | 2.20 | -50.67 | -12.0 | 1.76 | -47.93 | -10.2 | 0.12 | -7.69 | -14.29 | 37.87 | -23.0 | 2.99 | 27.33 | -4.14 | -8.87 | 135.98 | 57.01 | 36.87 | -35.98 | -368.5 | -5604.27 | 25.10 | 4.11 | -1.26 |
| 22Q3 (12) | 1.82 | -20.87 | 82.0 | 33.65 | -3.28 | 24.72 | 27.31 | -3.77 | 39.76 | 31.58 | -1.28 | 59.98 | 25.58 | -8.9 | 62.62 | 4.46 | -27.24 | 54.33 | 3.38 | -24.89 | 48.9 | 0.13 | -18.75 | -7.14 | 49.18 | 5.65 | 30.9 | 28.51 | -25.64 | 4.7 | 86.60 | -2.47 | -12.37 | 13.40 | 19.58 | 1045.59 | 24.11 | -3.09 | -8.19 |
| 22Q2 (11) | 2.30 | 37.72 | 259.37 | 34.79 | 6.82 | 53.26 | 28.38 | 9.2 | 99.58 | 31.99 | 9.14 | 145.32 | 28.08 | 19.74 | 127.55 | 6.13 | 31.55 | 227.81 | 4.50 | 27.48 | 202.01 | 0.16 | 6.67 | 33.33 | 46.55 | 5.13 | 32.09 | 38.34 | 7.04 | 31.48 | 88.80 | 0.42 | -19.2 | 11.20 | -0.21 | 227.45 | 24.88 | -5.4 | -10.05 |
| 22Q1 (10) | 1.67 | 89.77 | 351.35 | 32.57 | 33.05 | 95.85 | 25.99 | 44.55 | 193.01 | 29.31 | 61.67 | 253.56 | 23.45 | 64.1 | 211.84 | 4.66 | 86.4 | 327.52 | 3.53 | 80.1 | 292.22 | 0.15 | 7.14 | 25.0 | 44.28 | 20.42 | 33.82 | 35.82 | 19.44 | 44.38 | 88.42 | -11.0 | -17.47 | 11.23 | 1617.89 | 257.19 | 26.30 | 3.46 | -2.66 |
| 21Q4 (9) | 0.88 | -12.0 | 29.41 | 24.48 | -9.27 | 3.64 | 17.98 | -7.98 | 5.52 | 18.13 | -8.16 | 14.38 | 14.29 | -9.15 | 17.13 | 2.50 | -13.49 | 28.21 | 1.96 | -13.66 | 21.74 | 0.14 | 0.0 | 7.69 | 36.77 | -2.13 | -2.03 | 29.99 | 10.14 | 47.23 | 99.35 | 0.52 | -7.64 | 0.65 | -44.12 | 108.64 | 25.42 | -3.2 | 3.46 |
| 21Q3 (8) | 1.00 | 56.25 | 72.41 | 26.98 | 18.85 | 29.09 | 19.54 | 37.41 | 40.07 | 19.74 | 51.38 | 43.04 | 15.73 | 27.47 | 40.95 | 2.89 | 54.55 | 71.01 | 2.27 | 52.35 | 66.91 | 0.14 | 16.67 | 16.67 | 37.57 | 6.61 | 2.34 | 27.23 | -6.62 | 10.69 | 98.83 | -10.06 | -2.17 | 1.17 | 113.3 | 214.62 | 26.26 | -5.06 | 3.96 |
| 21Q2 (7) | 0.64 | 72.97 | 146.15 | 22.70 | 36.5 | 116.6 | 14.22 | 60.32 | 672.83 | 13.04 | 57.3 | 844.93 | 12.34 | 64.1 | 96.5 | 1.87 | 71.56 | 142.86 | 1.49 | 65.56 | 144.26 | 0.12 | 0.0 | 33.33 | 35.24 | 6.5 | 14.94 | 29.16 | 17.53 | 5.12 | 109.89 | 2.56 | -20.08 | -8.79 | -23.08 | 76.56 | 27.66 | 2.37 | 0 |
| 21Q1 (6) | 0.37 | -45.59 | 3600.0 | 16.63 | -29.59 | 105.56 | 8.87 | -47.95 | 554.87 | 8.29 | -47.7 | 2025.64 | 7.52 | -38.36 | 2048.57 | 1.09 | -44.1 | 2625.0 | 0.90 | -44.1 | 1400.0 | 0.12 | -7.69 | 33.33 | 33.09 | -11.83 | 1.57 | 24.81 | 21.8 | -25.09 | 107.14 | -0.39 | 119.48 | -7.14 | 5.56 | -101.1 | 27.02 | 9.97 | -12.16 |
| 20Q4 (5) | 0.68 | 17.24 | -80.74 | 23.62 | 13.01 | -56.29 | 17.04 | 22.15 | -64.86 | 15.85 | 14.86 | -67.14 | 12.20 | 9.32 | -67.46 | 1.95 | 15.38 | -80.9 | 1.61 | 18.38 | -79.52 | 0.13 | 8.33 | -38.1 | 37.53 | 2.23 | -39.48 | 20.37 | -17.2 | -34.77 | 107.56 | 6.48 | 6.87 | -7.56 | -641.18 | -1457.98 | 24.57 | -2.73 | 22.73 |
| 20Q3 (4) | 0.58 | 123.08 | 0.0 | 20.90 | 99.43 | 0.0 | 13.95 | 658.15 | 0.0 | 13.80 | 900.0 | 0.0 | 11.16 | 77.71 | 0.0 | 1.69 | 119.48 | 0.0 | 1.36 | 122.95 | 0.0 | 0.12 | 33.33 | 0.0 | 36.71 | 19.73 | 0.0 | 24.60 | -11.32 | 0.0 | 101.02 | -26.53 | 0.0 | -1.02 | 97.28 | 0.0 | 25.26 | 0 | 0.0 |
| 20Q2 (3) | 0.26 | 2500.0 | 0.0 | 10.48 | 29.54 | 0.0 | 1.84 | 194.36 | 0.0 | 1.38 | 253.85 | 0.0 | 6.28 | 1694.29 | 0.0 | 0.77 | 1825.0 | 0.0 | 0.61 | 916.67 | 0.0 | 0.09 | 0.0 | 0.0 | 30.66 | -5.89 | 0.0 | 27.74 | -16.24 | 0.0 | 137.50 | 125.0 | 0.0 | -37.50 | -105.77 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.01 | -99.72 | 0.0 | 8.09 | -85.03 | 0.0 | -1.95 | -104.02 | 0.0 | 0.39 | -99.19 | 0.0 | 0.35 | -99.07 | 0.0 | 0.04 | -99.61 | 0.0 | 0.06 | -99.24 | 0.0 | 0.09 | -57.14 | 0.0 | 32.58 | -47.46 | 0.0 | 33.12 | 6.05 | 0.0 | -550.00 | -646.46 | 0.0 | 650.00 | 134000.0 | 0.0 | 30.76 | 53.65 | 0.0 |
| 19Q4 (1) | 3.53 | 0.0 | 0.0 | 54.04 | 0.0 | 0.0 | 48.49 | 0.0 | 0.0 | 48.23 | 0.0 | 0.0 | 37.49 | 0.0 | 0.0 | 10.21 | 0.0 | 0.0 | 7.86 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 62.01 | 0.0 | 0.0 | 31.23 | 0.0 | 0.0 | 100.65 | 0.0 | 0.0 | -0.49 | 0.0 | 0.0 | 20.02 | 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) | 6.16 | -8.47 | 30.09 | -9.01 | 23.15 | -13.55 | 16.30 | 7.25 | 27.53 | -2.27 | 22.90 | -1.46 | 14.18 | -17.08 | 11.30 | -15.92 | 0.49 | -14.04 | 45.47 | 1.79 | 27.18 | -0.55 | 84.06 | -11.57 | 15.84 | 220.29 | 1.69 | -20.17 | 27.05 | 7.81 |
| 2022 (9) | 6.73 | 132.87 | 33.07 | 43.47 | 26.78 | 72.11 | 15.20 | -22.46 | 28.17 | 84.48 | 23.24 | 82.13 | 17.10 | 108.54 | 13.44 | 103.33 | 0.57 | 11.76 | 44.67 | 24.64 | 27.33 | -8.87 | 95.05 | -6.73 | 4.95 | 0 | 2.12 | 10.12 | 25.09 | -5.39 |
| 2021 (8) | 2.89 | 87.66 | 23.05 | 39.02 | 15.56 | 79.06 | 19.60 | -22.35 | 15.27 | 75.32 | 12.76 | 59.3 | 8.20 | 88.51 | 6.61 | 85.67 | 0.51 | 18.6 | 35.84 | 3.4 | 29.99 | 47.23 | 101.91 | 2.36 | -1.91 | 0 | 1.92 | 110.74 | 26.52 | -1.85 |
| 2020 (7) | 1.54 | -63.07 | 16.58 | -44.75 | 8.69 | -61.0 | 25.25 | -1.71 | 8.71 | -65.4 | 8.01 | -58.48 | 4.35 | -63.75 | 3.56 | -62.57 | 0.43 | -10.42 | 34.66 | -32.8 | 20.37 | -34.77 | 99.56 | 12.46 | 0.44 | -96.18 | 0.91 | 83.14 | 27.02 | 8.3 |
| 2019 (6) | 4.17 | 72.31 | 30.01 | 30.2 | 22.28 | 46.68 | 25.69 | 10.2 | 25.17 | 58.3 | 19.29 | 67.89 | 12.00 | 61.73 | 9.51 | 60.91 | 0.48 | -2.04 | 51.58 | 27.96 | 31.23 | 18.47 | 88.53 | -7.41 | 11.47 | 161.54 | 0.50 | 37.28 | 24.95 | -0.36 |
| 2018 (5) | 2.42 | -54.68 | 23.05 | 53.46 | 15.19 | -60.43 | 23.31 | -22.22 | 15.90 | -52.05 | 11.49 | -55.12 | 7.42 | -58.73 | 5.91 | -50.34 | 0.49 | 13.95 | 40.31 | -38.94 | 26.36 | -34.41 | 95.61 | -17.36 | 4.39 | 0 | 0.36 | 0 | 25.04 | -9.99 |
| 2017 (4) | 5.34 | 18.93 | 15.02 | -5.48 | 38.39 | 65.26 | 29.97 | -11.9 | 33.16 | 82.4 | 25.60 | 41.2 | 17.98 | 2.92 | 11.90 | 20.57 | 0.43 | -6.52 | 66.02 | 15.89 | 40.19 | -53.81 | 115.69 | -9.42 | -15.69 | 0 | 0.00 | 0 | 27.82 | 30.18 |
| 2016 (3) | 4.49 | 0 | 15.89 | 459.51 | 23.23 | 0 | 34.02 | -15.95 | 18.18 | 0 | 18.13 | 0 | 17.47 | 0 | 9.87 | 0 | 0.46 | 27.78 | 56.97 | 55.74 | 87.01 | -37.6 | 127.73 | 83.39 | -27.73 | 0 | 0.00 | 0 | 21.37 | 6.69 |
| 2015 (2) | -1.20 | 0 | 2.84 | -87.28 | -4.77 | 0 | 40.47 | 41.22 | -6.85 | 0 | -9.32 | 0 | -7.30 | 0 | -2.62 | 0 | 0.36 | -47.83 | 36.58 | -21.75 | 139.44 | 31.34 | 69.65 | -25.39 | 30.35 | 366.37 | 0.00 | 0 | 20.03 | 29.73 |
| 2014 (1) | 3.71 | -7.71 | 22.33 | 0 | 16.52 | 0 | 28.66 | 41.46 | 17.68 | 0 | 14.82 | 0 | 16.47 | 0 | 10.17 | 0 | 0.69 | 64.29 | 46.75 | -29.92 | 106.17 | 1566.72 | 93.36 | -4.37 | 6.51 | 158.0 | 0.00 | 0 | 15.44 | -4.63 |
