- 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) | 1.59 | -18.46 | 27.2 | 25.44 | 6.58 | 5.87 | 12.22 | 15.39 | 46.35 | 13.05 | -25.39 | -10.56 | 11.04 | -23.91 | -8.08 | 2.28 | -21.65 | 16.33 | 1.47 | -18.78 | 14.84 | 0.13 | 8.33 | 30.0 | 23.08 | -18.36 | -15.52 | 60.68 | -8.68 | 9.59 | 93.75 | 55.17 | 63.27 | 6.25 | -84.04 | -85.32 | 21.09 | -10.26 | -6.6 |
| 24Q2 (19) | 1.95 | 37.32 | 17.47 | 23.87 | 5.76 | 2.05 | 10.59 | 35.42 | 30.42 | 17.49 | 23.78 | -6.47 | 14.51 | 17.49 | -6.33 | 2.91 | 35.35 | 7.38 | 1.81 | 32.12 | 7.1 | 0.12 | 9.09 | 9.09 | 28.27 | 6.52 | -9.04 | 66.45 | -4.58 | 1.92 | 60.42 | 9.01 | 39.16 | 39.17 | -12.14 | -30.78 | 23.50 | -2.65 | 0.26 |
| 24Q1 (18) | 1.42 | 22.41 | -18.39 | 22.57 | 0.89 | -26.39 | 7.82 | 4.55 | -54.77 | 14.13 | 60.75 | -21.93 | 12.35 | 15.1 | -18.21 | 2.15 | 22.86 | -23.21 | 1.37 | 17.09 | -25.95 | 0.11 | 10.0 | -8.33 | 26.54 | 22.3 | -9.79 | 69.64 | 13.05 | 4.0 | 55.42 | -35.12 | -41.85 | 44.58 | 205.68 | 849.52 | 24.14 | 4.01 | -0.04 |
| 23Q4 (17) | 1.16 | -7.2 | -10.77 | 22.37 | -6.91 | -33.16 | 7.48 | -10.42 | -59.1 | 8.79 | -39.75 | -43.18 | 10.73 | -10.66 | -1.01 | 1.75 | -10.71 | -15.05 | 1.17 | -8.59 | -21.48 | 0.10 | 0.0 | -23.08 | 21.70 | -20.57 | -16.25 | 61.60 | 11.25 | 47.4 | 85.42 | 48.76 | -27.81 | 14.58 | -65.75 | 179.58 | 23.21 | 2.79 | 5.12 |
| 23Q3 (16) | 1.25 | -24.7 | -47.7 | 24.03 | 2.74 | -18.79 | 8.35 | 2.83 | -45.46 | 14.59 | -21.98 | -39.18 | 12.01 | -22.47 | -41.59 | 1.96 | -27.68 | -49.48 | 1.28 | -24.26 | -51.33 | 0.10 | -9.09 | -23.08 | 27.32 | -12.1 | -21.58 | 55.37 | -15.08 | 34.75 | 57.42 | 32.26 | -10.26 | 42.58 | -24.75 | 17.1 | 22.58 | -3.67 | 1.03 |
| 23Q2 (15) | 1.66 | -4.6 | -51.6 | 23.39 | -23.71 | -37.69 | 8.12 | -53.04 | -64.12 | 18.70 | 3.31 | -36.76 | 15.49 | 2.58 | -39.09 | 2.71 | -3.21 | -53.36 | 1.69 | -8.65 | -53.83 | 0.11 | -8.33 | -21.43 | 31.08 | 5.64 | -19.71 | 65.20 | -2.63 | 14.13 | 43.41 | -54.45 | -43.17 | 56.59 | 1105.27 | 142.26 | 23.44 | -2.94 | -11.21 |
| 23Q1 (14) | 1.74 | 33.85 | -41.41 | 30.66 | -8.4 | -8.07 | 17.29 | -5.47 | -13.89 | 18.10 | 17.0 | -23.53 | 15.10 | 39.3 | -27.26 | 2.80 | 35.92 | -44.33 | 1.85 | 24.16 | -42.19 | 0.12 | -7.69 | -20.0 | 29.42 | 13.55 | -8.32 | 66.96 | 60.23 | 7.83 | 95.31 | -19.45 | 12.37 | 4.69 | 125.62 | -69.08 | 24.15 | 9.38 | -1.67 |
| 22Q4 (13) | 1.30 | -45.61 | -52.55 | 33.47 | 13.11 | -6.56 | 18.29 | 19.46 | -15.48 | 15.47 | -35.51 | -29.59 | 10.84 | -47.28 | -39.68 | 2.06 | -46.91 | -54.12 | 1.49 | -43.35 | -48.44 | 0.13 | 0.0 | -18.75 | 25.91 | -25.63 | -12.55 | 41.79 | 1.7 | -23.12 | 118.32 | 84.92 | 20.13 | -18.32 | -150.39 | -1316.75 | 22.08 | -1.21 | -6.52 |
| 22Q3 (12) | 2.39 | -30.32 | -29.5 | 29.59 | -21.18 | -15.14 | 15.31 | -32.35 | -33.58 | 23.99 | -18.87 | 1.52 | 20.56 | -19.15 | -0.39 | 3.88 | -33.22 | -36.29 | 2.63 | -28.14 | -32.56 | 0.13 | -7.14 | -31.58 | 34.84 | -10.0 | 16.4 | 41.09 | -28.08 | -29.2 | 63.99 | -16.25 | -34.37 | 36.36 | 55.68 | 1354.55 | 22.35 | -15.34 | 0.81 |
| 22Q2 (11) | 3.43 | 15.49 | -1.44 | 37.54 | 12.56 | 9.16 | 22.63 | 12.7 | -0.48 | 29.57 | 24.93 | 20.89 | 25.43 | 22.5 | 16.92 | 5.81 | 15.51 | -20.52 | 3.66 | 14.37 | -18.67 | 0.14 | -6.67 | -33.33 | 38.71 | 20.63 | 27.21 | 57.13 | -8.0 | 4.37 | 76.40 | -9.92 | -17.87 | 23.36 | 53.81 | 234.79 | 26.40 | 7.49 | 16.61 |
| 22Q1 (10) | 2.97 | 8.39 | 16.93 | 33.35 | -6.9 | 0.0 | 20.08 | -7.21 | 9.37 | 23.67 | 7.74 | 19.97 | 20.76 | 15.53 | 23.57 | 5.03 | 12.03 | -19.39 | 3.20 | 10.73 | -11.36 | 0.15 | -6.25 | -28.57 | 32.09 | 8.3 | 23.14 | 62.10 | 14.24 | -17.26 | 84.81 | -13.89 | -8.79 | 15.19 | 908.37 | 116.6 | 24.56 | 3.98 | -3.46 |
| 21Q4 (9) | 2.74 | -19.17 | 42.71 | 35.82 | 2.72 | 17.06 | 21.64 | -6.12 | 15.78 | 21.97 | -7.02 | 29.77 | 17.97 | -12.94 | 24.36 | 4.49 | -26.27 | -11.44 | 2.89 | -25.9 | -2.36 | 0.16 | -15.79 | -20.0 | 29.63 | -1.0 | 24.71 | 54.36 | -6.34 | -25.73 | 98.49 | 1.02 | -11.09 | 1.51 | -39.76 | 114.63 | 23.62 | 6.54 | 10.94 |
| 21Q3 (8) | 3.39 | -2.59 | 65.37 | 34.87 | 1.4 | 5.32 | 23.05 | 1.36 | 12.93 | 23.63 | -3.39 | 30.84 | 20.64 | -5.1 | 35.97 | 6.09 | -16.69 | 4.82 | 3.90 | -13.33 | 18.18 | 0.19 | -9.52 | -9.52 | 29.93 | -1.64 | 22.81 | 58.04 | 6.03 | -20.01 | 97.50 | 4.81 | -13.76 | 2.50 | -64.17 | 119.14 | 22.17 | -2.08 | 2.26 |
| 21Q2 (7) | 3.48 | 37.01 | 37.55 | 34.39 | 3.12 | -0.75 | 22.74 | 23.86 | 3.32 | 24.46 | 23.97 | 3.47 | 21.75 | 29.46 | 9.63 | 7.31 | 17.15 | -1.35 | 4.50 | 24.65 | 6.89 | 0.21 | 0.0 | 0.0 | 30.43 | 16.77 | 0.46 | 54.74 | -27.06 | -34.97 | 93.02 | 0.04 | -0.07 | 6.98 | -0.49 | 0.98 | 22.64 | -11.01 | -3.08 |
| 21Q1 (6) | 2.54 | 32.29 | 0 | 33.35 | 8.99 | 0 | 18.36 | -1.77 | 0 | 19.73 | 16.54 | 0 | 16.80 | 16.26 | 0 | 6.24 | 23.08 | 0 | 3.61 | 21.96 | 0 | 0.21 | 5.0 | 0 | 26.06 | 9.68 | 0 | 75.05 | 2.54 | 0 | 92.99 | -16.06 | 0 | 7.01 | 168.11 | 0 | 25.44 | 19.49 | 0 |
| 20Q4 (5) | 1.92 | -6.34 | 0 | 30.60 | -7.58 | 0 | 18.69 | -8.43 | 0 | 16.93 | -6.26 | 0 | 14.45 | -4.81 | 0 | 5.07 | -12.74 | 0 | 2.96 | -10.3 | 0 | 0.20 | -4.76 | 0 | 23.76 | -2.5 | 0 | 73.19 | 0.87 | 0 | 110.78 | -2.02 | 0 | -10.29 | 21.2 | 0 | 21.29 | -1.8 | 0 |
| 20Q3 (4) | 2.05 | -18.97 | 0.0 | 33.11 | -4.44 | 0.0 | 20.41 | -7.27 | 0.0 | 18.06 | -23.6 | 0.0 | 15.18 | -23.49 | 0.0 | 5.81 | -21.59 | 0.0 | 3.30 | -21.62 | 0.0 | 0.21 | 0.0 | 0.0 | 24.37 | -19.54 | 0.0 | 72.56 | -13.8 | 0.0 | 113.06 | 21.45 | 0.0 | -13.06 | -289.07 | 0.0 | 21.68 | -7.19 | 0.0 |
| 20Q2 (3) | 2.53 | 0 | 0.0 | 34.65 | 0 | 0.0 | 22.01 | 0 | 0.0 | 23.64 | 0 | 0.0 | 19.84 | 0 | 0.0 | 7.41 | 0 | 0.0 | 4.21 | 0 | 0.0 | 0.21 | 0 | 0.0 | 30.29 | 0 | 0.0 | 84.18 | 0 | 0.0 | 93.09 | 0 | 0.0 | 6.91 | 0 | 0.0 | 23.36 | 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) | 5.82 | -42.43 | 25.22 | -25.01 | 10.45 | -45.74 | 11.53 | 23.74 | 15.10 | -35.41 | 13.38 | -31.84 | 8.94 | -45.12 | 6.11 | -45.05 | 0.44 | -21.43 | 27.41 | -16.99 | 61.60 | 47.4 | 69.21 | -15.99 | 30.79 | 74.72 | 0.46 | -1.17 | 23.37 | -2.5 |
| 2022 (9) | 10.11 | -16.31 | 33.63 | -2.92 | 19.26 | -10.75 | 9.32 | 46.17 | 23.38 | 3.59 | 19.63 | 1.08 | 16.29 | -33.4 | 11.12 | -27.03 | 0.56 | -28.21 | 33.02 | 13.39 | 41.79 | -23.12 | 82.38 | -13.85 | 17.62 | 301.87 | 0.46 | -2.96 | 23.97 | 2.57 |
| 2021 (8) | 12.08 | 49.69 | 34.64 | 6.29 | 21.58 | 8.66 | 6.37 | -6.41 | 22.57 | 16.22 | 19.42 | 18.34 | 24.46 | 9.44 | 15.24 | 17.14 | 0.78 | 0.0 | 29.12 | 9.85 | 54.36 | -25.73 | 95.61 | -6.64 | 4.39 | 0 | 0.48 | 64.32 | 23.37 | 3.87 |
| 2020 (7) | 8.07 | 67.08 | 32.59 | 9.99 | 19.86 | 32.58 | 6.81 | -18.46 | 19.42 | 24.81 | 16.41 | 25.17 | 22.35 | 50.81 | 13.01 | 49.54 | 0.78 | 21.88 | 26.51 | 8.38 | 73.19 | -1.6 | 102.42 | 6.5 | -2.30 | 0 | 0.29 | 0 | 22.50 | -4.86 |
| 2019 (6) | 4.83 | -12.18 | 29.63 | -5.88 | 14.98 | -10.83 | 8.35 | 22.47 | 15.56 | -12.49 | 13.11 | -7.02 | 14.82 | -19.1 | 8.70 | -17.85 | 0.64 | -12.33 | 24.46 | -2.39 | 74.38 | -3.73 | 96.17 | 1.82 | 3.83 | -30.93 | 0.00 | 0 | 23.65 | -1.38 |
| 2018 (5) | 5.50 | 63.69 | 31.48 | 8.97 | 16.80 | 27.85 | 6.82 | -3.06 | 17.78 | 45.74 | 14.10 | 42.71 | 18.32 | 49.67 | 10.59 | 48.53 | 0.73 | 4.29 | 25.06 | 27.6 | 77.26 | 0.42 | 94.45 | -12.11 | 5.55 | 0 | 0.00 | 0 | 23.98 | -0.66 |
| 2017 (4) | 3.36 | 8.39 | 28.89 | 8.69 | 13.14 | 18.81 | 7.04 | -15.86 | 12.20 | 1.58 | 9.88 | 2.6 | 12.24 | 5.25 | 7.13 | 1.86 | 0.70 | -1.41 | 19.64 | -5.67 | 76.94 | 1.97 | 107.47 | 16.48 | -7.73 | 0 | 0.00 | 0 | 24.14 | -3.36 |
| 2016 (3) | 3.10 | -7.46 | 26.58 | 4.93 | 11.06 | 9.5 | 8.36 | -1.71 | 12.01 | -2.83 | 9.63 | -5.96 | 11.63 | -10.68 | 7.00 | -13.04 | 0.71 | -6.58 | 20.82 | -2.89 | 75.45 | 12.6 | 92.26 | 12.94 | 8.02 | -56.17 | 0.00 | 0 | 24.98 | -2.69 |
| 2015 (2) | 3.35 | 10.2 | 25.33 | 3.94 | 10.10 | 0.5 | 8.51 | 5.74 | 12.36 | 4.3 | 10.24 | 3.96 | 13.02 | -5.45 | 8.05 | -2.19 | 0.76 | -5.0 | 21.44 | 4.13 | 67.01 | -1.96 | 81.69 | -3.73 | 18.31 | 20.89 | 0.00 | 0 | 25.67 | 14.6 |
| 2014 (1) | 3.04 | 0 | 24.37 | 0 | 10.05 | 0 | 8.05 | 0 | 11.85 | 0 | 9.85 | 0 | 13.77 | 0 | 8.23 | 0 | 0.80 | 0 | 20.59 | 0 | 68.35 | 0 | 84.86 | 0 | 15.14 | 0 | 0.00 | 0 | 22.40 | 0 |
