- 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) | 5.52 | -18.22 | 13.35 | 26.75 | 0.38 | 5.27 | 17.55 | 7.8 | 27.54 | 15.35 | -23.52 | -23.48 | 12.62 | -32.55 | -20.63 | 4.29 | -23.26 | -2.28 | 2.76 | -18.82 | 8.66 | 0.22 | 22.22 | 37.5 | 18.78 | -21.22 | -21.68 | 51.74 | -19.47 | -20.5 | 114.41 | 41.03 | 66.59 | -14.27 | -175.58 | -145.54 | 18.55 | -9.95 | -12.38 |
| 24Q2 (19) | 6.75 | 22.28 | 7.66 | 26.65 | 5.96 | 4.31 | 16.28 | 12.2 | 9.19 | 20.07 | -10.52 | -8.1 | 18.71 | 13.95 | 1.08 | 5.59 | 20.73 | -6.21 | 3.40 | 21.86 | 5.92 | 0.18 | 5.88 | 5.88 | 23.84 | -8.76 | -5.32 | 64.25 | -6.16 | -25.59 | 81.12 | 25.39 | 18.8 | 18.88 | -46.53 | -40.48 | 20.60 | -0.48 | 6.13 |
| 24Q1 (18) | 5.52 | 6.15 | 33.01 | 25.15 | -8.14 | -4.04 | 14.51 | -15.29 | -10.32 | 22.43 | 15.8 | 40.98 | 16.42 | 9.91 | 38.68 | 4.63 | 4.04 | 19.33 | 2.79 | 2.95 | 30.99 | 0.17 | -5.56 | -5.56 | 26.13 | 13.96 | 37.67 | 68.47 | 2.27 | -24.92 | 64.70 | -26.81 | -36.48 | 35.30 | 204.25 | 2222.04 | 20.70 | -0.53 | 7.87 |
| 23Q4 (17) | 5.20 | 6.78 | 17.38 | 27.38 | 7.75 | -15.49 | 17.13 | 24.49 | -23.9 | 19.37 | -3.44 | 55.46 | 14.94 | -6.04 | 49.85 | 4.45 | 1.37 | 13.52 | 2.71 | 6.69 | 23.18 | 0.18 | 12.5 | -18.18 | 22.93 | -4.38 | 54.41 | 66.95 | 2.87 | -18.14 | 88.40 | 28.71 | -51.06 | 11.60 | -62.96 | 114.39 | 20.81 | -1.7 | 10.63 |
| 23Q3 (16) | 4.87 | -22.33 | -40.17 | 25.41 | -0.55 | -16.08 | 13.76 | -7.71 | -32.62 | 20.06 | -8.15 | -17.28 | 15.90 | -14.1 | -18.46 | 4.39 | -26.34 | -44.15 | 2.54 | -20.87 | -40.65 | 0.16 | -5.88 | -27.27 | 23.98 | -4.77 | -9.95 | 65.08 | -24.63 | -21.8 | 68.68 | 0.57 | -18.47 | 31.32 | -1.22 | 97.38 | 21.17 | 9.07 | 16.25 |
| 23Q2 (15) | 6.27 | 51.08 | 0.16 | 25.55 | -2.52 | -14.32 | 14.91 | -7.85 | -22.22 | 21.84 | 37.27 | 3.16 | 18.51 | 56.33 | -1.65 | 5.96 | 53.61 | -14.98 | 3.21 | 50.7 | -10.58 | 0.17 | -5.56 | -10.53 | 25.18 | 32.67 | 6.07 | 86.35 | -5.32 | -2.31 | 68.29 | -32.95 | -24.58 | 31.71 | 2006.17 | 235.44 | 19.41 | 1.15 | 2.32 |
| 23Q1 (14) | 4.15 | -6.32 | -30.02 | 26.21 | -19.1 | -1.5 | 16.18 | -28.12 | -3.11 | 15.91 | 27.69 | -23.55 | 11.84 | 18.76 | -24.54 | 3.88 | -1.02 | -45.58 | 2.13 | -3.18 | -41.32 | 0.18 | -18.18 | -21.74 | 18.98 | 27.81 | -17.55 | 91.20 | 11.51 | -15.65 | 101.85 | -43.61 | 27.09 | -1.66 | 97.94 | -108.44 | 19.19 | 2.02 | 10.29 |
| 22Q4 (13) | 4.43 | -45.58 | 7.52 | 32.40 | 7.0 | 32.35 | 22.51 | 10.24 | 42.92 | 12.46 | -48.62 | -13.11 | 9.97 | -48.87 | -8.53 | 3.92 | -50.13 | -22.07 | 2.20 | -48.6 | -19.71 | 0.22 | 0.0 | -12.0 | 14.85 | -44.24 | -9.73 | 81.79 | -1.72 | -7.54 | 180.61 | 114.42 | 64.57 | -80.61 | -607.97 | -726.72 | 18.81 | 3.29 | 15.54 |
| 22Q3 (12) | 8.14 | 30.03 | 66.8 | 30.28 | 1.54 | 15.48 | 20.42 | 6.52 | 20.26 | 24.25 | 14.55 | 45.04 | 19.50 | 3.61 | 42.34 | 7.86 | 12.13 | 22.81 | 4.28 | 19.22 | 23.7 | 0.22 | 15.79 | -12.0 | 26.63 | 12.17 | 40.75 | 83.22 | -5.85 | -0.9 | 84.23 | -6.97 | -17.02 | 15.87 | 67.87 | 1155.34 | 18.21 | -4.01 | 3.52 |
| 22Q2 (11) | 6.26 | 5.56 | 36.98 | 29.82 | 12.06 | 9.47 | 19.17 | 14.79 | 3.57 | 21.17 | 1.73 | 34.5 | 18.82 | 19.95 | 38.48 | 7.01 | -1.68 | 10.22 | 3.59 | -1.1 | 6.21 | 0.19 | -17.39 | -24.0 | 23.74 | 3.13 | 31.67 | 88.39 | -18.25 | -2.79 | 90.55 | 12.98 | -22.97 | 9.45 | -52.06 | 153.87 | 18.97 | 9.02 | 14.07 |
| 22Q1 (10) | 5.93 | 43.93 | 71.88 | 26.61 | 8.7 | 16.4 | 16.70 | 6.03 | 24.44 | 20.81 | 45.12 | 31.38 | 15.69 | 43.94 | 37.51 | 7.13 | 41.75 | 36.33 | 3.63 | 32.48 | 35.45 | 0.23 | -8.0 | 0.0 | 23.02 | 39.94 | 24.7 | 108.12 | 22.22 | 19.67 | 80.14 | -26.98 | -5.47 | 19.72 | 302.22 | 29.53 | 17.40 | 6.88 | -2.85 |
| 21Q4 (9) | 4.12 | -15.57 | 22.99 | 24.48 | -6.64 | 1.24 | 15.75 | -7.24 | 8.55 | 14.34 | -14.23 | 6.78 | 10.90 | -20.44 | -3.2 | 5.03 | -21.41 | -8.04 | 2.74 | -20.81 | -5.84 | 0.25 | 0.0 | 0.0 | 16.45 | -13.05 | 0.61 | 88.46 | 5.33 | -18.36 | 109.75 | 8.13 | 1.72 | -9.75 | -548.44 | -19.1 | 16.28 | -7.45 | -7.6 |
| 21Q3 (8) | 4.88 | 6.78 | 21.09 | 26.22 | -3.74 | 2.5 | 16.98 | -8.27 | 0.59 | 16.72 | 6.23 | 4.11 | 13.70 | 0.81 | 9.34 | 6.40 | 0.63 | -8.31 | 3.46 | 2.37 | -10.13 | 0.25 | 0.0 | -16.67 | 18.92 | 4.94 | 0.85 | 83.98 | -7.64 | 13.41 | 101.50 | -13.65 | -3.48 | -1.50 | 91.43 | 70.88 | 17.59 | 5.77 | 7.39 |
| 21Q2 (7) | 4.57 | 32.46 | -2.35 | 27.24 | 19.16 | -5.52 | 18.51 | 37.93 | -9.49 | 15.74 | -0.63 | -9.49 | 13.59 | 19.11 | -6.53 | 6.36 | 21.61 | -28.22 | 3.38 | 26.12 | -24.89 | 0.25 | 8.7 | -19.35 | 18.03 | -2.33 | -11.01 | 90.93 | 0.64 | -3.35 | 117.55 | 38.65 | 0.01 | -17.55 | -215.27 | -0.09 | 16.63 | -7.15 | 0 |
| 21Q1 (6) | 3.45 | 2.99 | 20.63 | 22.86 | -5.46 | -2.22 | 13.42 | -7.51 | 1.98 | 15.84 | 17.94 | 15.03 | 11.41 | 1.33 | 0.71 | 5.23 | -4.39 | -6.27 | 2.68 | -7.9 | -6.62 | 0.23 | -8.0 | -8.0 | 18.46 | 12.91 | 4.95 | 90.35 | -16.62 | -13.38 | 84.78 | -21.43 | -11.52 | 15.22 | 285.93 | 236.07 | 17.91 | 1.65 | -1.97 |
| 20Q4 (5) | 3.35 | -16.87 | 1.21 | 24.18 | -5.47 | -5.21 | 14.51 | -14.04 | -18.85 | 13.43 | -16.38 | -11.24 | 11.26 | -10.14 | -5.85 | 5.47 | -21.63 | -16.49 | 2.91 | -24.42 | -18.03 | 0.25 | -16.67 | -13.79 | 16.35 | -12.85 | -13.45 | 108.36 | 46.33 | 17.72 | 107.89 | 2.6 | -8.77 | -8.19 | -58.53 | 55.17 | 17.62 | 7.57 | 9.58 |
| 20Q3 (4) | 4.03 | -13.89 | 0.0 | 25.58 | -11.27 | 0.0 | 16.88 | -17.46 | 0.0 | 16.06 | -7.65 | 0.0 | 12.53 | -13.82 | 0.0 | 6.98 | -21.22 | 0.0 | 3.85 | -14.44 | 0.0 | 0.30 | -3.23 | 0.0 | 18.76 | -7.4 | 0.0 | 74.05 | -21.29 | 0.0 | 105.16 | -10.52 | 0.0 | -5.16 | 70.54 | 0.0 | 16.38 | 0 | 0.0 |
| 20Q2 (3) | 4.68 | 63.64 | 0.0 | 28.83 | 23.31 | 0.0 | 20.45 | 55.4 | 0.0 | 17.39 | 26.29 | 0.0 | 14.54 | 28.33 | 0.0 | 8.86 | 58.78 | 0.0 | 4.50 | 56.79 | 0.0 | 0.31 | 24.0 | 0.0 | 20.26 | 15.18 | 0.0 | 94.08 | -9.81 | 0.0 | 117.53 | 22.66 | 0.0 | -17.53 | -487.06 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 2.86 | -13.6 | 0.0 | 23.38 | -8.35 | 0.0 | 13.16 | -26.4 | 0.0 | 13.77 | -8.99 | 0.0 | 11.33 | -5.27 | 0.0 | 5.58 | -14.81 | 0.0 | 2.87 | -19.15 | 0.0 | 0.25 | -13.79 | 0.0 | 17.59 | -6.88 | 0.0 | 104.31 | 13.32 | 0.0 | 95.82 | -18.98 | 0.0 | 4.53 | 124.81 | 0.0 | 18.27 | 13.62 | 0.0 |
| 19Q4 (1) | 3.31 | 0.0 | 0.0 | 25.51 | 0.0 | 0.0 | 17.88 | 0.0 | 0.0 | 15.13 | 0.0 | 0.0 | 11.96 | 0.0 | 0.0 | 6.55 | 0.0 | 0.0 | 3.55 | 0.0 | 0.0 | 0.29 | 0.0 | 0.0 | 18.89 | 0.0 | 0.0 | 92.05 | 0.0 | 0.0 | 118.26 | 0.0 | 0.0 | -18.26 | 0.0 | 0.0 | 16.08 | 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) | 20.48 | -16.88 | 26.16 | -12.63 | 15.55 | -21.78 | 3.06 | 51.14 | 19.25 | -1.13 | 15.25 | -3.42 | 17.75 | -30.5 | 10.36 | -26.16 | 0.67 | -23.86 | 22.71 | 3.89 | 66.95 | -18.14 | 80.81 | -20.83 | 19.19 | 0 | 0.00 | 0 | 20.11 | 9.53 |
| 2022 (9) | 24.64 | 44.86 | 29.94 | 18.57 | 19.88 | 22.41 | 2.03 | 5.23 | 19.47 | 24.57 | 15.79 | 27.34 | 25.54 | 9.66 | 14.03 | 17.01 | 0.88 | -7.37 | 21.86 | 21.99 | 81.79 | -7.54 | 102.08 | -1.67 | -2.08 | 0 | 0.00 | 0 | 18.36 | 7.56 |
| 2021 (8) | 17.01 | 14.08 | 25.25 | -1.48 | 16.24 | -1.28 | 1.93 | -25.45 | 15.63 | 2.42 | 12.40 | -0.72 | 23.29 | -7.91 | 11.99 | -6.03 | 0.95 | -5.94 | 17.92 | -2.08 | 88.46 | -18.36 | 103.81 | -3.68 | -3.86 | 0 | 0.00 | 0 | 17.07 | 0.95 |
| 2020 (7) | 14.91 | 89.94 | 25.63 | 11.14 | 16.45 | 35.95 | 2.58 | -26.23 | 15.26 | 39.74 | 12.49 | 40.97 | 25.29 | 67.26 | 12.76 | 53.37 | 1.01 | 12.22 | 18.30 | 20.0 | 108.36 | 17.72 | 107.78 | -2.71 | -7.78 | 0 | 0.00 | 0 | 16.91 | -8.3 |
| 2019 (6) | 7.85 | -44.17 | 23.06 | -7.2 | 12.10 | -15.5 | 3.50 | 43.0 | 10.92 | -29.09 | 8.86 | -29.12 | 15.12 | -48.76 | 8.32 | -46.67 | 0.90 | -26.83 | 15.25 | -16.71 | 92.05 | 3.43 | 110.78 | 19.09 | -10.78 | 0 | 0.00 | 0 | 18.44 | 6.9 |
| 2018 (5) | 14.06 | 3.15 | 24.85 | 4.19 | 14.32 | -3.37 | 2.45 | 98.16 | 15.40 | -4.7 | 12.50 | -4.87 | 29.51 | -11.38 | 15.60 | -11.46 | 1.23 | -8.21 | 18.31 | 4.09 | 89.00 | -7.46 | 93.02 | 1.48 | 6.98 | -15.49 | 0.00 | 0 | 17.25 | 10.51 |
| 2017 (4) | 13.63 | 50.61 | 23.85 | 53.97 | 14.82 | 56.33 | 1.24 | 10.14 | 16.16 | 53.18 | 13.14 | 60.44 | 33.30 | 28.57 | 17.62 | 29.46 | 1.34 | -18.79 | 17.59 | 48.19 | 96.17 | 18.35 | 91.67 | 2.03 | 8.26 | -17.72 | 0.00 | 0 | 15.61 | 44.54 |
| 2016 (3) | 9.05 | 11.59 | 15.49 | -11.28 | 9.48 | -0.21 | 1.12 | -15.65 | 10.55 | 2.13 | 8.19 | -13.97 | 25.90 | -11.57 | 13.61 | 3.81 | 1.65 | 21.32 | 11.87 | -1.41 | 81.26 | -22.58 | 89.84 | -2.29 | 10.04 | 24.67 | 0.00 | 0 | 10.80 | -15.95 |
| 2015 (2) | 8.11 | 50.74 | 17.46 | 44.9 | 9.50 | 185.29 | 1.33 | 0.44 | 10.33 | 123.11 | 9.52 | 35.61 | 29.29 | 76.98 | 13.11 | 109.42 | 1.36 | -0.73 | 12.04 | 88.42 | 104.96 | -33.58 | 91.95 | 28.01 | 8.05 | -71.42 | 0.00 | 0 | 12.85 | 5.76 |
| 2014 (1) | 5.38 | 228.05 | 12.05 | 0 | 3.33 | 0 | 1.33 | -59.61 | 4.63 | 0 | 7.02 | 0 | 16.55 | 0 | 6.26 | 0 | 1.37 | 71.25 | 6.39 | -36.1 | 158.03 | -15.01 | 71.83 | 48.02 | 28.17 | -46.04 | 0.00 | 0 | 12.15 | -22.51 |
