- 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) | 9.65 | -5.76 | 357.35 | 36.71 | -10.0 | 17.51 | 21.92 | -18.15 | 207.87 | 28.87 | 19.5 | 201.99 | 20.84 | 23.31 | 189.85 | 5.16 | -7.53 | 312.8 | 2.67 | -5.65 | 286.96 | 0.12 | -25.0 | 33.33 | 49.68 | 22.91 | 30.81 | 103.12 | 4.83 | -8.17 | 75.93 | -31.47 | 1.88 | 24.07 | 321.91 | -5.49 | 27.23 | -1.84 | -26.7 |
| 23Q4 (19) | 10.24 | -26.44 | 36.53 | 40.79 | 16.38 | -6.64 | 26.78 | 7.42 | 14.01 | 24.16 | -11.92 | 21.77 | 16.90 | -4.95 | 17.28 | 5.58 | -31.7 | 30.68 | 2.83 | -27.99 | 23.04 | 0.16 | -27.27 | 6.67 | 40.42 | 5.04 | 13.51 | 98.37 | -9.98 | 4.65 | 110.79 | 21.93 | -6.45 | -10.85 | -218.7 | 41.11 | 27.74 | 39.26 | -21.59 |
| 23Q3 (18) | 13.92 | 1306.06 | -9.26 | 35.05 | 16.37 | -16.65 | 24.93 | 570.38 | -10.23 | 27.43 | 623.75 | -17.63 | 17.78 | 304.09 | -26.1 | 8.17 | 1176.56 | -14.18 | 3.93 | 934.21 | -23.54 | 0.22 | 214.29 | 4.76 | 38.48 | 1.77 | -14.89 | 109.27 | -3.77 | 22.69 | 90.86 | 165.08 | 8.96 | 9.14 | -96.19 | -44.98 | 19.92 | -62.32 | -23.3 |
| 23Q2 (17) | 0.99 | -53.08 | -70.18 | 30.12 | -3.59 | -19.72 | -5.30 | -174.44 | -164.09 | 3.79 | -60.36 | -72.34 | 4.40 | -38.8 | -66.08 | 0.64 | -48.8 | -71.04 | 0.38 | -44.93 | -70.77 | 0.07 | -22.22 | -22.22 | 37.81 | -0.45 | -10.66 | 113.55 | 1.11 | 29.33 | -139.60 | -287.32 | -331.13 | 239.60 | 840.67 | 505.08 | 52.87 | 42.31 | -7.38 |
| 23Q1 (16) | 2.11 | -71.87 | -27.24 | 31.24 | -28.5 | 0.68 | 7.12 | -69.69 | -30.26 | 9.56 | -51.81 | -29.86 | 7.19 | -50.1 | -25.95 | 1.25 | -70.73 | -35.23 | 0.69 | -70.0 | -40.52 | 0.09 | -40.0 | -18.18 | 37.98 | 6.66 | 1.04 | 112.30 | 19.47 | 31.05 | 74.53 | -37.06 | -0.41 | 25.47 | 238.27 | 1.23 | 37.15 | 5.0 | 2.57 |
| 22Q4 (15) | 7.50 | -51.11 | -9.09 | 43.69 | 3.9 | 20.19 | 23.49 | -15.41 | 10.75 | 19.84 | -40.42 | -9.2 | 14.41 | -40.11 | -9.2 | 4.27 | -55.15 | -22.22 | 2.30 | -55.25 | -27.67 | 0.15 | -28.57 | -21.05 | 35.61 | -21.23 | 0.74 | 94.00 | 5.55 | 20.07 | 118.42 | 42.01 | 22.04 | -18.42 | -210.9 | -739.11 | 35.38 | 36.23 | 32.81 |
| 22Q3 (14) | 15.34 | 362.05 | 76.12 | 42.05 | 12.07 | 15.4 | 27.77 | 235.79 | 21.96 | 33.30 | 143.07 | 37.38 | 24.06 | 85.51 | 46.08 | 9.52 | 330.77 | 51.11 | 5.14 | 295.38 | 39.67 | 0.21 | 133.33 | -4.55 | 45.21 | 6.83 | 24.41 | 89.06 | 1.44 | 12.72 | 83.39 | 38.06 | -11.23 | 16.61 | -58.05 | 173.98 | 25.97 | -54.5 | -2.59 |
| 22Q2 (13) | 3.32 | 14.48 | 213.21 | 37.52 | 20.92 | 24.03 | 8.27 | -19.0 | 86.26 | 13.70 | 0.51 | 142.91 | 12.97 | 33.57 | 173.63 | 2.21 | 14.51 | 176.25 | 1.30 | 12.07 | 132.14 | 0.09 | -18.18 | -10.0 | 42.32 | 12.58 | 35.34 | 87.80 | 2.46 | 24.17 | 60.40 | -19.29 | -23.56 | 39.60 | 57.37 | 88.76 | 57.08 | 57.59 | 12.63 |
| 22Q1 (12) | 2.90 | -64.85 | 16.0 | 31.03 | -14.64 | -13.06 | 10.21 | -51.86 | -23.69 | 13.63 | -37.62 | -2.08 | 9.71 | -38.82 | -11.0 | 1.93 | -64.85 | 6.04 | 1.16 | -63.52 | -2.52 | 0.11 | -42.11 | 10.0 | 37.59 | 6.34 | -3.04 | 85.69 | 9.45 | 16.43 | 74.84 | -22.88 | -22.11 | 25.16 | 773.01 | 541.65 | 36.22 | 35.96 | -19.15 |
| 21Q4 (11) | 8.25 | -5.28 | -7.92 | 36.35 | -0.25 | -19.19 | 21.21 | -6.85 | -30.71 | 21.85 | -9.86 | -17.55 | 15.87 | -3.64 | -20.25 | 5.49 | -12.86 | -14.88 | 3.18 | -13.59 | -19.7 | 0.19 | -13.64 | -5.0 | 35.35 | -2.72 | -5.88 | 78.29 | -0.91 | 19.24 | 97.04 | 3.3 | -15.97 | 2.88 | -52.46 | 118.62 | 26.64 | -0.08 | -16.98 |
| 21Q3 (10) | 8.71 | 721.7 | -7.64 | 36.44 | 20.46 | -13.85 | 22.77 | 412.84 | -22.34 | 24.24 | 329.79 | -14.19 | 16.47 | 247.47 | -19.11 | 6.30 | 687.5 | -16.45 | 3.68 | 557.14 | -20.0 | 0.22 | 120.0 | 0.0 | 36.34 | 16.21 | -3.71 | 79.01 | 11.74 | 19.49 | 93.94 | 18.88 | -9.46 | 6.06 | -71.1 | 261.6 | 26.66 | -47.4 | -1.91 |
| 21Q2 (9) | 1.06 | -57.6 | -76.13 | 30.25 | -15.24 | -29.4 | 4.44 | -66.82 | -83.05 | 5.64 | -59.48 | -77.42 | 4.74 | -56.55 | -70.21 | 0.80 | -56.04 | -77.65 | 0.56 | -52.94 | -75.22 | 0.10 | 0.0 | -28.57 | 31.27 | -19.34 | -21.06 | 70.71 | -3.93 | 3.21 | 79.02 | -17.75 | -24.69 | 20.98 | 434.97 | 526.21 | 50.68 | 13.13 | 34.15 |
| 21Q1 (8) | 2.50 | -72.1 | -45.53 | 35.69 | -20.65 | -18.18 | 13.38 | -56.29 | -49.89 | 13.92 | -47.47 | -49.46 | 10.91 | -45.18 | -42.64 | 1.82 | -71.78 | -50.94 | 1.19 | -69.95 | -52.02 | 0.10 | -50.0 | -23.08 | 38.77 | 3.22 | -11.12 | 73.60 | 12.09 | 36.37 | 96.08 | -16.8 | -0.85 | 3.92 | 125.33 | 26.68 | 44.80 | 39.61 | 0 |
| 20Q4 (7) | 8.96 | -4.98 | -8.66 | 44.98 | 6.34 | -11.0 | 30.61 | 4.4 | -4.13 | 26.50 | -6.19 | -28.2 | 19.90 | -2.26 | -24.33 | 6.45 | -14.46 | -26.7 | 3.96 | -13.91 | -25.7 | 0.20 | -9.09 | 0.0 | 37.56 | -0.48 | -23.16 | 65.66 | -0.7 | 19.6 | 115.48 | 11.3 | 33.56 | -15.48 | -312.58 | -214.94 | 32.09 | 18.06 | 0 |
| 20Q3 (6) | 9.43 | 112.39 | -26.9 | 42.30 | -1.28 | -14.15 | 29.32 | 11.91 | -18.92 | 28.25 | 13.09 | -20.6 | 20.36 | 27.97 | -20.44 | 7.54 | 110.61 | -50.69 | 4.60 | 103.54 | -44.51 | 0.22 | 57.14 | -31.25 | 37.74 | -4.72 | -14.23 | 66.12 | -3.49 | -27.25 | 103.75 | -1.12 | 2.05 | -3.75 | 23.78 | -132.74 | 27.18 | -28.06 | 15.51 |
| 20Q2 (5) | 4.44 | -3.27 | 105.56 | 42.85 | -1.77 | 4.08 | 26.20 | -1.87 | 55.58 | 24.98 | -9.3 | 60.75 | 15.91 | -16.35 | 42.82 | 3.58 | -3.5 | 23.02 | 2.26 | -8.87 | 23.5 | 0.14 | 7.69 | -6.67 | 39.61 | -9.19 | 19.34 | 68.51 | 26.94 | -20.99 | 104.92 | 8.27 | -3.4 | -4.92 | -259.01 | 40.75 | 37.78 | 0 | -6.11 |
| 20Q1 (4) | 4.59 | -53.21 | 0.0 | 43.62 | -13.69 | 0.0 | 26.70 | -16.38 | 0.0 | 27.54 | -25.39 | 0.0 | 19.02 | -27.68 | 0.0 | 3.71 | -57.84 | 0.0 | 2.48 | -53.47 | 0.0 | 0.13 | -35.0 | 0.0 | 43.62 | -10.76 | 0.0 | 53.97 | -1.69 | 0.0 | 96.90 | 12.08 | 0.0 | 3.10 | -77.01 | 0.0 | 0.00 | 0 | 0.0 |
| 19Q4 (3) | 9.81 | -23.95 | 0.0 | 50.54 | 2.58 | 0.0 | 31.93 | -11.7 | 0.0 | 36.91 | 3.74 | 0.0 | 26.30 | 2.77 | 0.0 | 8.80 | -42.45 | 0.0 | 5.33 | -35.71 | 0.0 | 0.20 | -37.5 | 0.0 | 48.88 | 11.09 | 0.0 | 54.90 | -39.6 | 0.0 | 86.46 | -14.96 | 0.0 | 13.47 | 935.42 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (2) | 12.90 | 497.22 | 0.0 | 49.27 | 19.67 | 0.0 | 36.16 | 114.73 | 0.0 | 35.58 | 128.96 | 0.0 | 25.59 | 129.71 | 0.0 | 15.29 | 425.43 | 0.0 | 8.29 | 353.01 | 0.0 | 0.32 | 113.33 | 0.0 | 44.00 | 32.57 | 0.0 | 90.89 | 4.82 | 0.0 | 101.67 | -6.4 | 0.0 | -1.61 | 80.6 | 0.0 | 23.53 | -41.53 | 0.0 |
| 19Q2 (1) | 2.16 | 0.0 | 0.0 | 41.17 | 0.0 | 0.0 | 16.84 | 0.0 | 0.0 | 15.54 | 0.0 | 0.0 | 11.14 | 0.0 | 0.0 | 2.91 | 0.0 | 0.0 | 1.83 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 33.19 | 0.0 | 0.0 | 86.71 | 0.0 | 0.0 | 108.62 | 0.0 | 0.0 | -8.31 | 0.0 | 0.0 | 40.24 | 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) | 27.25 | -6.23 | 35.67 | -10.65 | 19.06 | -6.75 | 17.31 | 3.05 | 20.75 | -9.19 | 14.23 | -16.15 | 15.13 | -14.71 | 8.03 | -18.56 | 0.54 | -3.57 | 38.93 | -4.04 | 98.37 | 4.65 | 91.86 | 2.67 | 8.16 | -22.28 | 0.16 | -15.29 | 29.08 | -17.62 |
| 2022 (9) | 29.06 | 41.62 | 39.92 | 12.9 | 20.44 | 13.43 | 16.79 | 7.48 | 22.85 | 20.14 | 16.97 | 24.5 | 17.74 | 27.81 | 9.86 | 16.82 | 0.56 | -5.08 | 40.57 | 13.93 | 94.00 | 20.07 | 89.48 | -5.57 | 10.50 | 98.96 | 0.18 | -20.21 | 35.30 | 6.71 |
| 2021 (8) | 20.52 | -25.16 | 35.36 | -18.64 | 18.02 | -37.15 | 15.62 | 36.35 | 19.02 | -29.42 | 13.63 | -28.75 | 13.88 | -32.95 | 8.44 | -35.87 | 0.59 | -11.94 | 35.61 | -8.79 | 78.29 | 19.24 | 94.75 | -10.92 | 5.28 | 0 | 0.23 | -14.1 | 33.08 | 5.38 |
| 2020 (7) | 27.42 | 10.61 | 43.46 | -7.43 | 28.67 | 2.28 | 11.46 | -8.16 | 26.95 | -7.93 | 19.13 | -8.69 | 20.70 | -11.84 | 13.16 | -15.42 | 0.67 | -6.94 | 39.04 | -8.87 | 65.66 | 19.6 | 106.37 | 11.06 | -6.37 | 0 | 0.27 | -4.62 | 31.39 | -5.57 |
| 2019 (6) | 24.79 | 164.29 | 46.95 | 21.16 | 28.03 | 78.88 | 12.48 | -31.09 | 29.27 | 87.39 | 20.95 | 83.61 | 23.48 | 98.98 | 15.56 | 98.72 | 0.72 | 14.29 | 42.84 | 21.77 | 54.90 | -7.0 | 95.77 | -4.53 | 4.23 | 0 | 0.28 | -38.09 | 33.24 | -16.31 |
| 2018 (5) | 9.38 | -10.67 | 38.75 | -5.14 | 15.67 | -18.47 | 18.11 | 12.93 | 15.62 | -3.46 | 11.41 | -11.62 | 11.80 | -21.54 | 7.83 | -18.35 | 0.63 | -7.35 | 35.18 | 3.65 | 59.03 | -12.87 | 100.32 | -15.52 | -0.32 | 0 | 0.45 | 8.03 | 39.72 | 13.23 |
| 2017 (4) | 10.50 | 0 | 40.85 | 64.39 | 19.22 | 754.22 | 16.03 | -31.73 | 16.18 | 0 | 12.91 | 0 | 15.04 | 0 | 9.59 | 0 | 0.68 | 23.64 | 33.94 | 42.37 | 67.75 | -10.49 | 118.75 | 0 | -18.75 | 0 | 0.42 | 0 | 35.08 | 6.69 |
| 2016 (3) | -1.54 | 0 | 24.85 | 207.93 | 2.25 | 0 | 23.49 | 33.88 | -2.12 | 0 | -2.43 | 0 | -2.59 | 0 | -0.37 | 0 | 0.55 | -9.84 | 23.84 | 412.69 | 75.69 | -31.57 | -106.04 | 0 | 206.71 | 1452.63 | 0.00 | 0 | 32.88 | -7.07 |
| 2015 (2) | -11.30 | 0 | 8.07 | -11.8 | -12.95 | 0 | 17.54 | 28.63 | -14.94 | 0 | -12.70 | 0 | -15.48 | 0 | -6.83 | 0 | 0.61 | -12.86 | 4.65 | -36.3 | 110.61 | 18.35 | 86.69 | -10.08 | 13.31 | 269.67 | 0.00 | 0 | 35.38 | 12.18 |
| 2014 (1) | -6.95 | 0 | 9.15 | 0 | -7.75 | 0 | 13.64 | -7.68 | -8.03 | 0 | -6.81 | 0 | -8.55 | 0 | -3.99 | 0 | 0.70 | 7.69 | 7.30 | -37.66 | 93.46 | 41.71 | 96.40 | -27.83 | 3.60 | 0 | 0.00 | 0 | 31.54 | 6.48 |
