- 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) | 2.01 | 18.24 | -1.95 | 39.49 | -4.96 | -3.49 | 20.13 | -4.42 | -10.65 | 22.48 | -2.3 | -21.59 | 20.31 | 12.46 | -12.98 | 5.03 | 13.54 | -9.04 | 3.53 | 21.72 | -15.14 | 0.17 | 6.25 | -5.56 | 24.49 | -2.04 | -18.48 | 35.51 | -34.58 | 39.25 | 89.77 | -2.17 | 14.42 | 10.23 | 24.19 | -52.52 | 19.36 | 1.84 | -0.82 |
| 24Q2 (19) | 1.70 | 0.0 | -13.27 | 41.55 | 2.74 | 8.26 | 21.06 | -2.9 | -4.23 | 23.01 | -3.92 | -10.85 | 18.06 | -4.9 | -16.85 | 4.43 | 0.23 | -22.01 | 2.90 | -8.81 | -26.77 | 0.16 | 0.0 | -11.11 | 25.00 | -3.85 | -8.53 | 54.28 | -5.02 | 29.39 | 91.76 | 1.42 | 8.17 | 8.24 | -13.53 | -43.62 | 19.01 | -1.04 | 5.26 |
| 24Q1 (18) | 1.70 | 47.83 | 12.58 | 40.44 | -4.73 | 5.42 | 21.69 | -4.41 | -0.37 | 23.95 | 31.74 | 9.51 | 18.99 | 30.97 | 7.9 | 4.42 | 52.94 | 1.61 | 3.18 | 37.66 | 6.71 | 0.16 | 0.0 | -5.88 | 26.00 | 32.18 | 10.73 | 57.15 | 115.09 | 22.51 | 90.48 | -27.35 | -8.86 | 9.52 | 138.8 | 1204.76 | 19.21 | 6.72 | 10.66 |
| 23Q4 (17) | 1.15 | -43.9 | -24.34 | 42.45 | 3.74 | 8.87 | 22.69 | 0.71 | 2.67 | 18.18 | -36.59 | -11.19 | 14.50 | -37.87 | -7.7 | 2.89 | -47.74 | -35.63 | 2.31 | -44.47 | -24.51 | 0.16 | -11.11 | -15.79 | 19.67 | -34.52 | -10.47 | 26.57 | 4.2 | -44.97 | 124.55 | 58.73 | 14.9 | -24.55 | -213.96 | -219.09 | 18.00 | -7.79 | 10.7 |
| 23Q3 (16) | 2.05 | 4.59 | -8.48 | 40.92 | 6.62 | 11.41 | 22.53 | 2.46 | 8.27 | 28.67 | 11.08 | 7.5 | 23.34 | 7.46 | 9.53 | 5.53 | -2.64 | -22.55 | 4.16 | 5.05 | -9.57 | 0.18 | 0.0 | -14.29 | 30.04 | 9.92 | 6.75 | 25.50 | -39.21 | -47.78 | 78.46 | -7.51 | 0.67 | 21.54 | 47.46 | -2.36 | 19.52 | 8.08 | 17.73 |
| 23Q2 (15) | 1.96 | 29.8 | 53.12 | 38.38 | 0.05 | 15.57 | 21.99 | 1.01 | 47.29 | 25.81 | 18.02 | 44.67 | 21.72 | 23.41 | 41.41 | 5.68 | 30.57 | 39.56 | 3.96 | 32.89 | 48.31 | 0.18 | 5.88 | 5.88 | 27.33 | 16.4 | 39.44 | 41.95 | -10.08 | -35.52 | 84.83 | -14.54 | 0.68 | 14.61 | 1901.12 | -12.36 | 18.06 | 4.03 | 6.17 |
| 23Q1 (14) | 1.51 | -0.66 | 26.89 | 38.36 | -1.62 | 20.25 | 21.77 | -1.49 | 39.91 | 21.87 | 6.84 | 18.73 | 17.60 | 12.03 | 19.81 | 4.35 | -3.12 | 17.89 | 2.98 | -2.61 | 19.2 | 0.17 | -10.53 | 0.0 | 23.48 | 6.87 | 15.04 | 46.65 | -3.38 | 3.12 | 99.27 | -8.42 | 17.82 | 0.73 | 109.49 | -95.36 | 17.36 | 6.77 | 3.83 |
| 22Q4 (13) | 1.52 | -32.14 | 47.57 | 38.99 | 6.15 | 25.01 | 22.10 | 6.2 | 48.42 | 20.47 | -23.25 | 34.32 | 15.71 | -26.28 | 31.14 | 4.49 | -37.11 | 35.24 | 3.06 | -33.48 | 36.61 | 0.19 | -9.52 | 5.56 | 21.97 | -21.93 | 27.96 | 48.28 | -1.13 | -11.1 | 108.39 | 39.07 | 10.72 | -7.69 | -134.87 | -465.38 | 16.26 | -1.93 | 9.42 |
| 22Q3 (12) | 2.24 | 75.0 | 44.52 | 36.73 | 10.6 | 7.21 | 20.81 | 39.38 | 7.1 | 26.67 | 49.5 | 30.35 | 21.31 | 38.74 | 29.86 | 7.14 | 75.43 | 37.31 | 4.60 | 72.28 | 35.69 | 0.21 | 23.53 | 5.0 | 28.14 | 43.57 | 25.63 | 48.83 | -24.95 | 1.94 | 77.94 | -7.5 | -17.96 | 22.06 | 32.35 | 341.18 | 16.58 | -2.53 | 7.87 |
| 22Q2 (11) | 1.28 | 7.56 | -3.76 | 33.21 | 4.11 | -3.09 | 14.93 | -4.05 | -15.36 | 17.84 | -3.15 | 7.15 | 15.36 | 4.56 | -2.35 | 4.07 | 10.3 | -6.65 | 2.67 | 6.8 | -7.93 | 0.17 | 0.0 | -5.56 | 19.60 | -3.97 | 2.35 | 65.06 | 43.81 | 3.53 | 84.26 | 0.0 | -20.42 | 16.67 | 5.88 | 383.33 | 17.01 | 1.73 | 4.87 |
| 22Q1 (10) | 1.19 | 15.53 | 5.31 | 31.90 | 2.28 | -6.94 | 15.56 | 4.5 | -12.63 | 18.42 | 20.87 | 5.26 | 14.69 | 22.62 | 4.93 | 3.69 | 11.14 | 1.37 | 2.50 | 11.61 | -7.75 | 0.17 | -5.56 | -10.53 | 20.41 | 18.87 | 2.92 | 45.24 | -16.7 | 5.31 | 84.26 | -13.93 | -17.36 | 15.74 | 647.69 | 902.78 | 16.72 | 12.52 | 4.89 |
| 21Q4 (9) | 1.03 | -33.55 | 6.19 | 31.19 | -8.96 | -3.53 | 14.89 | -23.37 | 0.34 | 15.24 | -25.51 | -1.3 | 11.98 | -27.0 | -2.52 | 3.32 | -36.15 | 3.11 | 2.24 | -33.92 | -13.85 | 0.18 | -10.0 | -14.29 | 17.17 | -23.35 | -2.5 | 54.31 | 13.38 | 112.4 | 97.89 | 3.05 | 2.56 | 2.11 | -57.89 | -38.25 | 14.86 | -3.32 | -23.24 |
| 21Q3 (8) | 1.55 | 16.54 | 47.62 | 34.26 | -0.03 | 4.55 | 19.43 | 10.15 | 21.59 | 20.46 | 22.88 | 20.71 | 16.41 | 4.32 | 19.87 | 5.20 | 19.27 | 42.86 | 3.39 | 16.9 | 18.12 | 0.20 | 11.11 | -4.76 | 22.40 | 16.97 | 18.64 | 47.90 | -23.77 | 110.73 | 95.00 | -10.28 | 0.34 | 5.00 | 185.0 | -6.0 | 15.37 | -5.24 | -8.02 |
| 21Q2 (7) | 1.33 | 17.7 | 66.25 | 34.27 | -0.03 | -10.99 | 17.64 | -0.95 | 6.84 | 16.65 | -4.86 | 3.61 | 15.73 | 12.36 | 1.42 | 4.36 | 19.78 | 60.29 | 2.90 | 7.01 | 31.82 | 0.18 | -5.26 | 28.57 | 19.15 | -3.43 | 4.47 | 62.84 | 46.28 | 101.67 | 105.88 | 3.85 | 4.15 | -5.88 | -200.0 | -76.47 | 16.22 | 1.76 | -25.9 |
| 21Q1 (6) | 1.13 | 16.49 | 54.79 | 34.28 | 6.03 | -11.88 | 17.81 | 20.01 | 9.87 | 17.50 | 13.34 | -7.06 | 14.00 | 13.91 | -6.67 | 3.64 | 13.04 | 51.04 | 2.71 | 4.23 | 29.67 | 0.19 | -9.52 | 35.71 | 19.83 | 12.61 | -6.2 | 42.96 | 68.01 | 168.33 | 101.96 | 6.82 | 18.06 | -1.96 | -157.52 | -114.38 | 15.94 | -17.67 | -29.69 |
| 20Q4 (5) | 0.97 | -7.62 | 29.33 | 32.33 | -1.34 | -11.91 | 14.84 | -7.13 | -6.78 | 15.44 | -8.91 | 15.66 | 12.29 | -10.23 | -8.35 | 3.22 | -11.54 | 26.27 | 2.60 | -9.41 | 22.07 | 0.21 | 0.0 | 31.25 | 17.61 | -6.73 | 15.32 | 25.57 | 12.49 | 69.23 | 95.45 | 0.82 | -20.7 | 3.41 | -35.91 | 118.41 | 19.36 | 15.86 | -0.46 |
| 20Q3 (4) | 1.05 | 31.25 | 0.0 | 32.77 | -14.88 | 0.0 | 15.98 | -3.21 | 0.0 | 16.95 | 5.48 | 0.0 | 13.69 | -11.73 | 0.0 | 3.64 | 33.82 | 0.0 | 2.87 | 30.45 | 0.0 | 0.21 | 50.0 | 0.0 | 18.88 | 3.0 | 0.0 | 22.73 | -27.05 | 0.0 | 94.68 | -6.87 | 0.0 | 5.32 | 259.57 | 0.0 | 16.71 | -23.66 | 0.0 |
| 20Q2 (3) | 0.80 | 9.59 | 0.0 | 38.50 | -1.03 | 0.0 | 16.51 | 1.85 | 0.0 | 16.07 | -14.66 | 0.0 | 15.51 | 3.4 | 0.0 | 2.72 | 12.86 | 0.0 | 2.20 | 5.26 | 0.0 | 0.14 | 0.0 | 0.0 | 18.33 | -13.29 | 0.0 | 31.16 | 94.63 | 0.0 | 101.67 | 17.72 | 0.0 | -3.33 | -124.44 | 0.0 | 21.89 | -3.44 | 0.0 |
| 20Q1 (2) | 0.73 | -2.67 | 0.0 | 38.90 | 5.99 | 0.0 | 16.21 | 1.82 | 0.0 | 18.83 | 41.05 | 0.0 | 15.00 | 11.86 | 0.0 | 2.41 | -5.49 | 0.0 | 2.09 | -1.88 | 0.0 | 0.14 | -12.5 | 0.0 | 21.14 | 38.44 | 0.0 | 16.01 | 5.96 | 0.0 | 86.36 | -28.25 | 0.0 | 13.64 | 173.64 | 0.0 | 22.67 | 16.56 | 0.0 |
| 19Q4 (1) | 0.75 | 0.0 | 0.0 | 36.70 | 0.0 | 0.0 | 15.92 | 0.0 | 0.0 | 13.35 | 0.0 | 0.0 | 13.41 | 0.0 | 0.0 | 2.55 | 0.0 | 0.0 | 2.13 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 15.27 | 0.0 | 0.0 | 15.11 | 0.0 | 0.0 | 120.37 | 0.0 | 0.0 | -18.52 | 0.0 | 0.0 | 19.45 | 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) | 6.62 | 6.26 | 39.98 | 12.78 | 22.24 | 19.25 | 1.19 | 9.36 | 23.83 | 12.41 | 19.47 | 14.46 | 18.05 | -3.73 | 13.31 | 5.97 | 0.68 | -6.85 | 25.32 | 10.57 | 26.57 | -44.97 | 93.38 | 6.18 | 6.62 | -45.06 | 0.15 | -16.85 | 18.26 | 9.8 |
| 2022 (9) | 6.23 | 23.86 | 35.45 | 5.82 | 18.65 | 6.69 | 1.09 | 1.07 | 21.20 | 20.87 | 17.01 | 16.67 | 18.75 | 15.38 | 12.56 | 7.17 | 0.73 | -7.59 | 22.90 | 16.01 | 48.28 | -11.1 | 87.94 | -11.65 | 12.06 | 5192.91 | 0.19 | -34.37 | 16.63 | 6.67 |
| 2021 (8) | 5.03 | 41.69 | 33.50 | -4.15 | 17.48 | 10.77 | 1.08 | -20.32 | 17.54 | 5.22 | 14.58 | 5.12 | 16.25 | 38.42 | 11.72 | 20.08 | 0.79 | 12.86 | 19.74 | 4.72 | 54.31 | 112.4 | 99.54 | 5.36 | 0.23 | -95.62 | 0.28 | -58.77 | 15.59 | -20.86 |
| 2020 (7) | 3.55 | 6.29 | 34.95 | -5.52 | 15.78 | -3.37 | 1.35 | -16.44 | 16.67 | -3.36 | 13.87 | -4.21 | 11.74 | 3.53 | 9.76 | 0.72 | 0.70 | 4.48 | 18.85 | -2.48 | 25.57 | 69.23 | 94.48 | -0.31 | 5.19 | -0.61 | 0.69 | 241.52 | 19.70 | -1.65 |
| 2019 (6) | 3.34 | 17.61 | 36.99 | 4.67 | 16.33 | 26.2 | 1.62 | -9.42 | 17.25 | 11.65 | 14.48 | 10.53 | 11.34 | 16.19 | 9.69 | 17.6 | 0.67 | 6.35 | 19.33 | 6.91 | 15.11 | -21.83 | 94.77 | 12.98 | 5.23 | -67.57 | 0.20 | -28.08 | 20.03 | -3.28 |
| 2018 (5) | 2.84 | 30.28 | 35.34 | 2.67 | 12.94 | 12.13 | 1.79 | -18.33 | 15.45 | 43.45 | 13.10 | 37.75 | 9.76 | 35.18 | 8.24 | 34.86 | 0.63 | -1.56 | 18.08 | 31.87 | 19.33 | 11.09 | 83.88 | -21.78 | 16.12 | 0 | 0.28 | 0 | 20.71 | 4.28 |
| 2017 (4) | 2.18 | -28.76 | 34.42 | -10.29 | 11.54 | -26.73 | 2.19 | -13.21 | 10.77 | -32.77 | 9.51 | -30.53 | 7.22 | -36.05 | 6.11 | -36.42 | 0.64 | -8.57 | 13.71 | -27.31 | 17.40 | -8.23 | 107.24 | 9.26 | -7.24 | 0 | 0.00 | 0 | 19.86 | -4.38 |
| 2016 (3) | 3.06 | -13.07 | 38.37 | 0.24 | 15.75 | -5.12 | 2.52 | 9.4 | 16.02 | -3.78 | 13.69 | -1.93 | 11.29 | -11.73 | 9.61 | -12.48 | 0.70 | -11.39 | 18.86 | -2.03 | 18.96 | 18.13 | 98.15 | -1.46 | 1.85 | 368.52 | 0.00 | 0 | 20.77 | 10.42 |
| 2015 (2) | 3.52 | -14.56 | 38.28 | 6.93 | 16.60 | 5.8 | 2.31 | -0.07 | 16.65 | -6.46 | 13.96 | -9.23 | 12.79 | -17.64 | 10.98 | -16.44 | 0.79 | -7.06 | 19.25 | -5.54 | 16.05 | -5.53 | 99.60 | 13.0 | 0.40 | -96.67 | 0.00 | 0 | 18.81 | -2.23 |
| 2014 (1) | 4.12 | -10.43 | 35.80 | 0 | 15.69 | 0 | 2.31 | 1.38 | 17.80 | 0 | 15.38 | 0 | 15.53 | 0 | 13.14 | 0 | 0.85 | -14.14 | 20.38 | 3.14 | 16.99 | -13.32 | 88.15 | -5.53 | 11.85 | 77.08 | 0.00 | 0 | 19.24 | 5.37 |
