- 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) | 1.77 | -18.81 | 10.62 | 20.65 | 10.78 | 8.63 | 11.82 | 16.68 | 17.38 | 12.30 | -18.92 | -13.93 | 9.12 | -22.65 | -13.47 | 2.01 | -22.39 | 2.03 | 1.46 | -21.93 | 3.55 | 0.16 | 0.0 | 23.08 | 16.11 | -16.31 | -18.1 | 36.13 | -18.68 | -11.03 | 96.23 | 43.94 | 36.47 | 3.99 | -87.96 | -86.46 | 17.46 | 2.4 | 2.71 |
| 24Q2 (19) | 2.18 | 29.76 | 107.62 | 18.64 | 4.66 | 10.23 | 10.13 | 12.56 | 43.28 | 15.17 | 9.53 | 10.73 | 11.79 | 8.17 | 40.02 | 2.59 | 29.5 | 103.94 | 1.87 | 26.35 | 96.84 | 0.16 | 23.08 | 45.45 | 19.25 | 1.32 | -5.41 | 44.43 | 20.02 | -0.89 | 66.86 | 2.86 | 29.28 | 33.14 | -5.3 | -31.36 | 17.05 | -2.57 | -13.19 |
| 24Q1 (18) | 1.68 | 71.43 | 150.75 | 17.81 | -6.31 | 12.51 | 9.00 | -15.57 | 23.46 | 13.85 | 49.41 | 65.67 | 10.90 | 77.24 | 63.17 | 2.00 | 68.07 | 153.16 | 1.48 | 68.18 | 142.62 | 0.13 | -7.14 | 44.44 | 19.00 | 31.85 | 13.77 | 37.02 | -4.02 | 21.82 | 65.00 | -43.56 | -25.51 | 35.00 | 330.83 | 174.75 | 17.50 | 1.86 | -20.53 |
| 23Q4 (17) | 0.98 | -38.75 | 16.67 | 19.01 | 0.0 | -15.1 | 10.66 | 5.86 | -16.65 | 9.27 | -35.13 | -2.42 | 6.15 | -41.65 | -5.96 | 1.19 | -39.59 | 17.82 | 0.88 | -37.59 | 17.33 | 0.14 | 7.69 | 27.27 | 14.41 | -26.74 | -9.82 | 38.57 | -5.02 | 10.17 | 115.16 | 63.31 | -14.45 | -15.16 | -151.43 | 56.2 | 17.18 | 1.06 | -8.81 |
| 23Q3 (16) | 1.60 | 52.38 | -59.08 | 19.01 | 12.42 | -20.92 | 10.07 | 42.43 | -39.77 | 14.29 | 4.31 | -52.29 | 10.54 | 25.18 | -52.69 | 1.97 | 55.12 | -58.87 | 1.41 | 48.42 | -58.04 | 0.13 | 18.18 | -13.33 | 19.67 | -3.34 | -43.35 | 40.61 | -9.41 | 0.0 | 70.52 | 36.36 | 26.33 | 29.48 | -38.94 | -33.26 | 17.00 | -13.44 | 5.52 |
| 23Q2 (15) | 1.05 | 56.72 | -52.27 | 16.91 | 6.82 | -17.31 | 7.07 | -3.02 | -41.33 | 13.70 | 63.88 | -32.31 | 8.42 | 26.05 | -39.9 | 1.27 | 60.76 | -52.79 | 0.95 | 55.74 | -50.0 | 0.11 | 22.22 | -21.43 | 20.35 | 21.86 | -20.48 | 44.83 | 47.52 | -1.54 | 51.71 | -40.74 | -13.34 | 48.29 | 279.05 | 19.25 | 19.64 | -10.81 | 6.33 |
| 23Q1 (14) | 0.67 | -20.24 | -60.82 | 15.83 | -29.3 | -10.21 | 7.29 | -43.0 | -31.87 | 8.36 | -12.0 | -40.29 | 6.68 | 2.14 | -39.05 | 0.79 | -21.78 | -62.02 | 0.61 | -18.67 | -59.6 | 0.09 | -18.18 | -35.71 | 16.70 | 4.51 | -13.52 | 30.39 | -13.2 | -22.61 | 87.26 | -35.18 | 14.26 | 12.74 | 136.8 | -46.09 | 22.02 | 16.88 | 28.02 |
| 22Q4 (13) | 0.84 | -78.52 | -47.5 | 22.39 | -6.86 | 23.02 | 12.79 | -23.5 | 3.48 | 9.50 | -68.28 | -23.94 | 6.54 | -70.65 | -28.37 | 1.01 | -78.91 | -49.5 | 0.75 | -77.68 | -50.0 | 0.11 | -26.67 | -31.25 | 15.98 | -53.97 | -5.78 | 35.01 | -13.79 | -6.76 | 134.62 | 141.16 | 36.24 | -34.62 | -178.35 | -3734.62 | 18.84 | 16.95 | 9.41 |
| 22Q3 (12) | 3.91 | 77.73 | 228.57 | 24.04 | 17.56 | 28.08 | 16.72 | 38.76 | 55.82 | 29.95 | 47.97 | 127.41 | 22.28 | 59.03 | 168.11 | 4.79 | 78.07 | 230.34 | 3.36 | 76.84 | 200.0 | 0.15 | 7.14 | 15.38 | 34.72 | 35.68 | 84.98 | 40.61 | -10.81 | 35.91 | 55.82 | -6.45 | -31.5 | 44.18 | 9.11 | 138.7 | 16.11 | -12.78 | -13.76 |
| 22Q2 (11) | 2.20 | 28.65 | 24.29 | 20.45 | 16.0 | -5.02 | 12.05 | 12.62 | -14.3 | 20.24 | 44.57 | 63.62 | 14.01 | 27.83 | 19.23 | 2.69 | 29.33 | 28.1 | 1.90 | 25.83 | 20.25 | 0.14 | 0.0 | 7.69 | 25.59 | 32.52 | 41.62 | 45.53 | 15.94 | 51.21 | 59.67 | -21.87 | -47.53 | 40.49 | 71.37 | 395.01 | 18.47 | 7.38 | 3.07 |
| 22Q1 (10) | 1.71 | 6.87 | 11.04 | 17.63 | -3.13 | -19.61 | 10.70 | -13.43 | -26.91 | 14.00 | 12.09 | -10.94 | 10.96 | 20.04 | 16.84 | 2.08 | 4.0 | 11.83 | 1.51 | 0.67 | 12.69 | 0.14 | -12.5 | 0.0 | 19.31 | 13.86 | -7.92 | 39.27 | 4.58 | 8.75 | 76.37 | -22.71 | -17.98 | 23.63 | 2380.91 | 243.3 | 17.20 | -0.12 | -4.55 |
| 21Q4 (9) | 1.60 | 34.45 | -43.06 | 18.20 | -3.04 | -30.64 | 12.36 | 15.19 | -40.58 | 12.49 | -5.16 | -25.39 | 9.13 | 9.87 | -24.42 | 2.00 | 37.93 | -40.83 | 1.50 | 33.93 | -36.71 | 0.16 | 23.08 | -20.0 | 16.96 | -9.64 | -18.46 | 37.55 | 25.67 | -11.77 | 98.81 | 21.25 | -20.51 | 0.95 | -94.85 | 103.92 | 17.22 | -7.82 | 32.36 |
| 21Q3 (8) | 1.19 | -32.77 | -58.82 | 18.77 | -12.82 | -29.36 | 10.73 | -23.68 | -47.5 | 13.17 | 6.47 | -25.17 | 8.31 | -29.28 | -29.81 | 1.45 | -30.95 | -61.64 | 1.12 | -29.11 | -56.92 | 0.13 | 0.0 | -40.91 | 18.77 | 3.87 | -13.06 | 29.88 | -0.76 | -30.64 | 81.49 | -28.34 | -29.89 | 18.51 | 234.85 | 214.06 | 18.68 | 4.24 | 35.95 |
| 21Q2 (7) | 1.77 | 14.94 | -11.06 | 21.53 | -1.82 | -6.19 | 14.06 | -3.96 | -15.76 | 12.37 | -21.31 | -21.26 | 11.75 | 25.27 | 22.52 | 2.10 | 12.9 | -21.64 | 1.58 | 17.91 | -14.13 | 0.13 | -7.14 | -31.58 | 18.07 | -13.83 | -11.72 | 30.11 | -16.62 | -39.16 | 113.73 | 22.13 | 7.04 | -13.73 | -299.42 | -119.61 | 17.92 | -0.55 | 31.76 |
| 21Q1 (6) | 1.54 | -45.2 | 8.45 | 21.93 | -16.43 | 25.82 | 14.64 | -29.62 | 54.92 | 15.72 | -6.09 | 23.0 | 9.38 | -22.35 | -3.4 | 1.86 | -44.97 | -1.59 | 1.34 | -43.46 | 1.52 | 0.14 | -30.0 | 7.69 | 20.97 | 0.82 | 8.32 | 36.11 | -15.16 | -17.5 | 93.12 | -25.09 | 25.89 | 6.88 | 128.32 | -73.56 | 18.02 | 38.51 | 3.68 |
| 20Q4 (5) | 2.81 | -2.77 | 22.71 | 26.24 | -1.24 | 10.53 | 20.80 | 1.76 | 17.38 | 16.74 | -4.89 | 7.38 | 12.08 | 2.03 | 16.15 | 3.38 | -10.58 | 9.39 | 2.37 | -8.85 | 7.73 | 0.20 | -9.09 | -4.76 | 20.80 | -3.66 | 4.42 | 42.56 | -1.21 | -5.9 | 124.31 | 6.95 | 9.32 | -24.31 | -49.79 | -77.37 | 13.01 | -5.31 | -19.59 |
| 20Q3 (4) | 2.89 | 45.23 | 0.0 | 26.57 | 15.77 | 0.0 | 20.44 | 22.47 | 0.0 | 17.60 | 12.03 | 0.0 | 11.84 | 23.46 | 0.0 | 3.78 | 41.04 | 0.0 | 2.60 | 41.3 | 0.0 | 0.22 | 15.79 | 0.0 | 21.59 | 5.47 | 0.0 | 43.08 | -12.95 | 0.0 | 116.23 | 9.39 | 0.0 | -16.23 | -159.62 | 0.0 | 13.74 | 1.03 | 0.0 |
| 20Q2 (3) | 1.99 | 40.14 | 0.0 | 22.95 | 31.67 | 0.0 | 16.69 | 76.61 | 0.0 | 15.71 | 22.93 | 0.0 | 9.59 | -1.24 | 0.0 | 2.68 | 41.8 | 0.0 | 1.84 | 39.39 | 0.0 | 0.19 | 46.15 | 0.0 | 20.47 | 5.73 | 0.0 | 49.49 | 13.07 | 0.0 | 106.25 | 43.65 | 0.0 | -6.25 | -124.01 | 0.0 | 13.60 | -21.75 | 0.0 |
| 20Q1 (2) | 1.42 | -37.99 | 0.0 | 17.43 | -26.58 | 0.0 | 9.45 | -46.67 | 0.0 | 12.78 | -18.02 | 0.0 | 9.71 | -6.63 | 0.0 | 1.89 | -38.83 | 0.0 | 1.32 | -40.0 | 0.0 | 0.13 | -38.1 | 0.0 | 19.36 | -2.81 | 0.0 | 43.77 | -3.23 | 0.0 | 73.96 | -34.95 | 0.0 | 26.04 | 290.0 | 0.0 | 17.38 | 7.42 | 0.0 |
| 19Q4 (1) | 2.29 | 0.0 | 0.0 | 23.74 | 0.0 | 0.0 | 17.72 | 0.0 | 0.0 | 15.59 | 0.0 | 0.0 | 10.40 | 0.0 | 0.0 | 3.09 | 0.0 | 0.0 | 2.20 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 19.92 | 0.0 | 0.0 | 45.23 | 0.0 | 0.0 | 113.70 | 0.0 | 0.0 | -13.70 | 0.0 | 0.0 | 16.18 | 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) | 4.30 | -50.52 | 17.93 | -15.26 | 9.03 | -31.54 | 5.93 | 11.48 | 11.55 | -39.78 | 8.02 | -42.84 | 5.14 | -51.37 | 3.84 | -50.77 | 0.47 | -14.55 | 17.71 | -27.98 | 38.57 | 10.17 | 78.16 | 13.71 | 21.84 | -30.14 | 0.00 | 0 | 18.60 | 5.98 |
| 2022 (9) | 8.69 | 42.93 | 21.16 | 5.33 | 13.19 | 1.54 | 5.32 | 2.67 | 19.18 | 42.6 | 14.03 | 45.69 | 10.57 | 41.12 | 7.80 | 45.25 | 0.55 | 0.0 | 24.59 | 31.64 | 35.01 | -6.76 | 68.74 | -28.82 | 31.26 | 811.59 | 0.00 | 0 | 17.55 | -2.06 |
| 2021 (8) | 6.08 | -32.82 | 20.09 | -16.26 | 12.99 | -26.65 | 5.18 | 12.9 | 13.45 | -16.2 | 9.63 | -12.3 | 7.49 | -34.7 | 5.37 | -33.04 | 0.55 | -24.66 | 18.68 | -9.8 | 37.55 | -11.77 | 96.57 | -12.45 | 3.43 | 0 | 0.00 | 0 | 17.92 | 26.82 |
| 2020 (7) | 9.05 | 24.83 | 23.99 | 1.65 | 17.71 | 8.58 | 4.59 | -21.63 | 16.05 | -5.7 | 10.98 | 0.0 | 11.47 | 15.74 | 8.02 | 13.44 | 0.73 | 14.06 | 20.71 | -9.6 | 42.56 | -5.9 | 110.31 | 15.06 | -10.31 | 0 | 0.00 | 0 | 14.13 | -22.66 |
| 2019 (6) | 7.25 | 8.7 | 23.60 | -2.12 | 16.31 | 4.35 | 5.85 | -18.28 | 17.02 | -4.7 | 10.98 | -11.09 | 9.91 | 2.91 | 7.07 | -0.84 | 0.64 | 10.34 | 22.91 | -8.62 | 45.23 | 26.23 | 95.87 | 9.55 | 4.13 | -66.94 | 0.00 | 0 | 18.27 | -10.83 |
| 2018 (5) | 6.67 | 62.68 | 24.11 | -6.0 | 15.63 | 3.3 | 7.16 | -14.23 | 17.86 | 47.12 | 12.35 | 45.98 | 9.63 | 56.33 | 7.13 | 55.34 | 0.58 | 7.41 | 25.07 | 21.52 | 35.83 | 2.87 | 87.51 | -29.79 | 12.49 | 0 | 0.00 | 0 | 20.49 | 4.17 |
| 2017 (4) | 4.10 | -33.12 | 25.65 | -6.18 | 15.13 | -16.82 | 8.35 | 13.78 | 12.14 | -33.77 | 8.46 | -37.43 | 6.16 | -33.98 | 4.59 | -32.0 | 0.54 | 10.2 | 20.63 | -20.75 | 34.83 | -5.89 | 124.64 | 25.66 | -24.64 | 0 | 0.00 | 0 | 19.67 | -6.64 |
| 2016 (3) | 6.13 | -32.04 | 27.34 | -22.24 | 18.19 | -24.33 | 7.34 | 17.1 | 18.33 | -26.53 | 13.52 | -29.14 | 9.33 | -34.8 | 6.75 | -34.91 | 0.49 | -9.26 | 26.03 | -17.05 | 37.01 | -18.82 | 99.19 | 2.9 | 0.74 | -79.73 | 0.00 | 0 | 21.07 | 15.07 |
| 2015 (2) | 9.02 | 41.82 | 35.16 | 29.22 | 24.04 | 60.16 | 6.27 | -0.67 | 24.95 | 35.08 | 19.08 | 33.15 | 14.31 | 30.92 | 10.37 | 25.09 | 0.54 | -5.26 | 31.38 | 25.57 | 45.59 | 43.27 | 96.40 | 18.57 | 3.65 | -80.47 | 0.00 | 0 | 18.31 | -10.11 |
| 2014 (1) | 6.36 | 27.2 | 27.21 | 0 | 15.01 | 0 | 6.31 | -3.68 | 18.47 | 0 | 14.33 | 0 | 10.93 | 0 | 8.29 | 0 | 0.57 | 0.0 | 24.99 | 12.01 | 31.82 | -8.83 | 81.30 | -9.63 | 18.70 | 86.36 | 0.00 | 0 | 20.37 | -1.36 |
