- 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) | 0.81 | -42.55 | -32.5 | 27.40 | -8.91 | 1.82 | 12.26 | -16.26 | 21.27 | 9.66 | -41.38 | -40.3 | 7.40 | -39.89 | -41.64 | 2.57 | -44.25 | -37.32 | 1.81 | -42.54 | -37.37 | 0.24 | -4.0 | 4.35 | 13.48 | -32.43 | -36.56 | 41.78 | -16.12 | 5.35 | 125.00 | 40.35 | 103.12 | -27.78 | -353.97 | -176.02 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 1.41 | 2.17 | 11.9 | 30.08 | 10.02 | 0.64 | 14.64 | 7.02 | 7.17 | 16.48 | -5.83 | -5.56 | 12.31 | -8.07 | -6.74 | 4.61 | 0.44 | 2.67 | 3.15 | -2.48 | 4.65 | 0.25 | 4.17 | 8.7 | 19.95 | -6.47 | -10.78 | 49.81 | 8.26 | 3.84 | 89.06 | 15.59 | 13.35 | 10.94 | -48.68 | -48.96 | 12.25 | 8.22 | 4.26 |
| 24Q1 (18) | 1.38 | 236.59 | 100.0 | 27.34 | 4.67 | -3.26 | 13.68 | 79.06 | 28.57 | 17.50 | 222.88 | 72.58 | 13.39 | 209.95 | 71.67 | 4.59 | 235.04 | 90.46 | 3.23 | 219.8 | 96.95 | 0.24 | 4.35 | 14.29 | 21.33 | 108.71 | 38.15 | 46.01 | 13.49 | -15.62 | 77.05 | -47.61 | -27.77 | 21.31 | 151.76 | 739.34 | 11.32 | -11.84 | -5.03 |
| 23Q4 (17) | 0.41 | -65.83 | -69.63 | 26.12 | -2.94 | -4.46 | 7.64 | -24.43 | -34.25 | 5.42 | -66.5 | -59.79 | 4.32 | -65.93 | -65.41 | 1.37 | -66.59 | -67.84 | 1.01 | -65.05 | -65.76 | 0.23 | 0.0 | 0.0 | 10.22 | -51.91 | -43.69 | 40.54 | 2.22 | -10.74 | 147.06 | 138.97 | 69.68 | -41.18 | -212.69 | -408.82 | 12.84 | 5.59 | -7.63 |
| 23Q3 (16) | 1.20 | -4.76 | -25.0 | 26.91 | -9.97 | 7.99 | 10.11 | -25.99 | -17.74 | 16.18 | -7.28 | 2.28 | 12.68 | -3.94 | 0.63 | 4.10 | -8.69 | -30.15 | 2.89 | -3.99 | -20.39 | 0.23 | 0.0 | -17.86 | 21.25 | -4.96 | 4.12 | 39.66 | -17.32 | -15.78 | 61.54 | -21.68 | -20.51 | 36.54 | 70.51 | 61.81 | 12.16 | 3.49 | 6.2 |
| 23Q2 (15) | 1.26 | 82.61 | -30.0 | 29.89 | 5.77 | 8.26 | 13.66 | 28.38 | -7.89 | 17.45 | 72.09 | 1.39 | 13.20 | 69.23 | 10.18 | 4.49 | 86.31 | -42.06 | 3.01 | 83.54 | -27.82 | 0.23 | 9.52 | -32.35 | 22.36 | 44.82 | 5.22 | 47.97 | -12.03 | -44.21 | 78.57 | -26.34 | -8.33 | 21.43 | 742.86 | 50.0 | 11.75 | -1.43 | 35.37 |
| 23Q1 (14) | 0.69 | -48.89 | -60.12 | 28.26 | 3.37 | 7.25 | 10.64 | -8.43 | -20.42 | 10.14 | -24.78 | -34.45 | 7.80 | -37.55 | -35.7 | 2.41 | -43.43 | -68.7 | 1.64 | -44.41 | -60.95 | 0.21 | -8.7 | -38.24 | 15.44 | -14.93 | -21.3 | 54.53 | 20.06 | -39.11 | 106.67 | 23.08 | 21.64 | -3.33 | -125.0 | -124.07 | 11.92 | -14.24 | 47.16 |
| 22Q4 (13) | 1.35 | -15.62 | 3.05 | 27.34 | 9.71 | 11.41 | 11.62 | -5.45 | -11.7 | 13.48 | -14.79 | 1.89 | 12.49 | -0.87 | 24.9 | 4.26 | -27.43 | -29.12 | 2.95 | -18.73 | -8.95 | 0.23 | -17.86 | -28.12 | 18.15 | -11.07 | 2.31 | 45.42 | -3.55 | -44.36 | 86.67 | 11.94 | -13.33 | 13.33 | -40.95 | 0 | 13.90 | 21.4 | 39.42 |
| 22Q3 (12) | 1.60 | -11.11 | 58.42 | 24.92 | -9.74 | 8.68 | 12.29 | -17.13 | 14.11 | 15.82 | -8.08 | 47.16 | 12.60 | 5.18 | 55.17 | 5.87 | -24.26 | 22.04 | 3.63 | -12.95 | 46.37 | 0.28 | -17.65 | -6.67 | 20.41 | -3.95 | 30.0 | 47.09 | -45.23 | -50.51 | 77.42 | -9.68 | -22.58 | 22.58 | 58.06 | 0 | 11.45 | 31.91 | 25.96 |
| 22Q2 (11) | 1.80 | 4.05 | 50.0 | 27.61 | 4.78 | 21.9 | 14.83 | 10.92 | 23.69 | 17.21 | 11.25 | 45.35 | 11.98 | -1.24 | 34.76 | 7.75 | 0.65 | 30.91 | 4.17 | -0.71 | 40.88 | 0.34 | 0.0 | 6.25 | 21.25 | 8.31 | 28.48 | 85.98 | -4.0 | -16.12 | 85.71 | -2.26 | -16.11 | 14.29 | 3.17 | 757.14 | 8.68 | 7.16 | -0.69 |
| 22Q1 (10) | 1.73 | 32.06 | 84.04 | 26.35 | 7.38 | 18.37 | 13.37 | 1.6 | 20.45 | 15.47 | 16.93 | 48.61 | 12.13 | 21.3 | 55.31 | 7.70 | 28.12 | 58.76 | 4.20 | 29.63 | 76.47 | 0.34 | 6.25 | 17.24 | 19.62 | 10.6 | 27.9 | 89.56 | 9.71 | -17.3 | 87.69 | -12.31 | -16.8 | 13.85 | 0 | 356.15 | 8.10 | -18.76 | -7.22 |
| 21Q4 (9) | 1.31 | 29.7 | 48.86 | 24.54 | 7.02 | 45.21 | 13.16 | 22.19 | 97.89 | 13.23 | 23.07 | 124.24 | 10.00 | 23.15 | 124.22 | 6.01 | 24.95 | 26.26 | 3.24 | 30.65 | 41.48 | 0.32 | 6.67 | -31.91 | 17.74 | 12.99 | 47.59 | 81.63 | -14.22 | -27.9 | 100.00 | 0.0 | -10.53 | 0.00 | 0 | 100.0 | 9.97 | 9.68 | -9.12 |
| 21Q3 (8) | 1.01 | -15.83 | 0 | 22.93 | 1.24 | 0 | 10.77 | -10.18 | 0 | 10.75 | -9.21 | 0 | 8.12 | -8.66 | 0 | 4.81 | -18.75 | 0 | 2.48 | -16.22 | 0 | 0.30 | -6.25 | 0 | 15.70 | -5.08 | 0 | 95.16 | -7.16 | 0 | 100.00 | -2.13 | 0 | 0.00 | 100.0 | 0 | 9.09 | 4.0 | 0 |
| 21Q2 (7) | 1.20 | 27.66 | 0 | 22.65 | 1.75 | 0 | 11.99 | 8.02 | 0 | 11.84 | 13.74 | 0 | 8.89 | 13.83 | 0 | 5.92 | 22.06 | 0 | 2.96 | 24.37 | 0 | 0.32 | 10.34 | 0 | 16.54 | 7.82 | 0 | 102.50 | -5.36 | 0 | 102.17 | -3.07 | 0 | -2.17 | 59.78 | 0 | 8.74 | 0.11 | 0 |
| 21Q1 (6) | 0.94 | 6.82 | 0 | 22.26 | 31.72 | 0 | 11.10 | 66.92 | 0 | 10.41 | 76.44 | 0 | 7.81 | 75.11 | 0 | 4.85 | 1.89 | 0 | 2.38 | 3.93 | 0 | 0.29 | -38.3 | 0 | 15.34 | 27.62 | 0 | 108.30 | -4.34 | 0 | 105.41 | -5.69 | 0 | -5.41 | 54.05 | 0 | 8.73 | -20.42 | 0 |
| 20Q4 (5) | 0.88 | 0 | 0 | 16.90 | 0 | 0 | 6.65 | 0 | 0 | 5.90 | 0 | 0 | 4.46 | 0 | 0 | 4.76 | 0 | 0 | 2.29 | 0 | 0 | 0.47 | 0 | 0 | 12.02 | 0 | 0 | 113.21 | 0 | 0 | 111.76 | 0 | 0 | -11.76 | 0 | 0 | 10.97 | 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) | 3.57 | -43.6 | 27.79 | 4.63 | 10.51 | -20.02 | 4.60 | 9.62 | 12.33 | -21.06 | 9.52 | -22.48 | 11.88 | -49.43 | 8.45 | -43.1 | 0.87 | -27.5 | 17.27 | -13.78 | 40.54 | -10.74 | 85.26 | 1.5 | 14.74 | -7.85 | 0.21 | 205.23 | 12.17 | 18.16 |
| 2022 (9) | 6.33 | 43.86 | 26.56 | 14.88 | 13.14 | 11.45 | 4.19 | -7.7 | 15.62 | 34.66 | 12.28 | 40.5 | 23.49 | 9.61 | 14.85 | 32.59 | 1.20 | -4.0 | 20.03 | 21.91 | 45.42 | -44.36 | 84.00 | -17.42 | 16.00 | 0 | 0.07 | -16.86 | 10.30 | 12.69 |
| 2021 (8) | 4.40 | 207.69 | 23.12 | 42.36 | 11.79 | 107.94 | 4.54 | -18.94 | 11.60 | 134.82 | 8.74 | 142.78 | 21.43 | 176.16 | 11.20 | 187.92 | 1.25 | 31.58 | 16.43 | 47.75 | 81.63 | -27.9 | 101.72 | -12.15 | -1.72 | 0 | 0.08 | -51.4 | 9.14 | -15.37 |
| 2020 (7) | 1.43 | -47.23 | 16.24 | -16.42 | 5.67 | -25.98 | 5.60 | 17.49 | 4.94 | -34.13 | 3.60 | -37.17 | 7.76 | -46.11 | 3.89 | -41.42 | 0.95 | -10.38 | 11.12 | -14.06 | 113.21 | -19.39 | 115.79 | 13.5 | -14.04 | 0 | 0.17 | 0 | 10.80 | 7.14 |
| 2019 (6) | 2.71 | -47.38 | 19.43 | -23.2 | 7.66 | -42.84 | 4.77 | 12.03 | 7.50 | -43.57 | 5.73 | -46.55 | 14.40 | -53.16 | 6.64 | -46.28 | 1.06 | -2.75 | 12.94 | -29.29 | 140.45 | 5.35 | 102.02 | 1.45 | -2.02 | 0 | 0.00 | 0 | 10.08 | 5.88 |
| 2018 (5) | 5.15 | 290.15 | 25.30 | 33.65 | 13.40 | 129.85 | 4.26 | -29.5 | 13.29 | 171.22 | 10.72 | 180.63 | 30.74 | 235.59 | 12.36 | 232.26 | 1.09 | 39.74 | 18.30 | 51.49 | 133.32 | -33.49 | 100.56 | -15.89 | -0.56 | 0 | 0.00 | 0 | 9.52 | -14.0 |
| 2017 (4) | 1.32 | 120.0 | 18.93 | 8.23 | 5.83 | 69.97 | 6.04 | -16.45 | 4.90 | 91.41 | 3.82 | 76.04 | 9.16 | 109.13 | 3.72 | 74.65 | 0.78 | 21.88 | 12.08 | 8.15 | 200.44 | -7.08 | 119.57 | -12.63 | -19.57 | 0 | 0.00 | 0 | 11.07 | 0.09 |
| 2016 (3) | 0.60 | -27.71 | 17.49 | -3.64 | 3.43 | -8.53 | 7.23 | 31.33 | 2.56 | -26.65 | 2.17 | -26.94 | 4.38 | -25.89 | 2.13 | -21.11 | 0.64 | -4.48 | 11.17 | 8.03 | 215.71 | -0.66 | 136.84 | 27.07 | -36.84 | 0 | 0.00 | 0 | 11.06 | 3.85 |
| 2015 (2) | 0.83 | -47.8 | 18.15 | -11.2 | 3.75 | -31.57 | 5.50 | 139.25 | 3.49 | -41.05 | 2.97 | -41.76 | 5.91 | -46.32 | 2.70 | -44.21 | 0.67 | -21.18 | 10.34 | 15.4 | 217.15 | 24.77 | 107.69 | 17.26 | -7.69 | 0 | 0.00 | 0 | 10.65 | 25.0 |
| 2014 (1) | 1.59 | 0 | 20.44 | 0 | 5.48 | 0 | 2.30 | 0 | 5.92 | 0 | 5.10 | 0 | 11.01 | 0 | 4.84 | 0 | 0.85 | 0 | 8.96 | 0 | 174.04 | 0 | 91.84 | 0 | 8.16 | 0 | 0.00 | 0 | 8.52 | 0 |
