- 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) | 1.17 | -26.88 | -54.3 | 26.22 | -0.68 | -5.0 | 7.81 | -14.08 | -40.15 | 9.99 | 12.12 | -24.72 | 6.60 | -5.44 | -32.24 | 3.00 | -21.05 | -54.34 | 1.85 | -20.94 | -49.73 | 0.27 | -18.18 | -27.03 | 11.79 | 15.14 | -18.63 | 76.80 | 28.3 | -16.37 | 78.21 | -23.16 | -20.36 | 21.79 | 1327.78 | 1107.44 | 17.27 | 6.08 | 27.55 |
| 23Q4 (19) | 1.60 | -35.74 | -35.74 | 26.40 | -0.86 | 6.32 | 9.09 | -27.28 | -17.29 | 8.91 | -35.95 | -22.32 | 6.98 | -26.06 | -20.32 | 3.80 | -41.09 | -42.34 | 2.34 | -36.59 | -36.76 | 0.33 | -15.38 | -21.43 | 10.24 | -31.96 | -18.34 | 59.86 | -18.15 | -16.78 | 101.78 | 13.28 | 6.17 | -1.78 | -117.47 | -142.93 | 16.28 | 20.5 | 22.22 |
| 23Q3 (18) | 2.49 | 42.29 | 22.66 | 26.63 | 4.51 | 18.04 | 12.50 | 14.26 | 45.35 | 13.91 | 22.77 | 32.86 | 9.44 | 25.7 | 19.95 | 6.45 | 33.82 | 15.59 | 3.69 | 39.77 | 24.66 | 0.39 | 14.71 | 5.41 | 15.05 | 19.26 | 27.87 | 73.13 | -10.41 | -19.43 | 89.84 | -7.27 | 9.86 | 10.16 | 185.71 | -42.79 | 13.51 | -0.59 | -0.22 |
| 23Q2 (17) | 1.75 | -31.64 | -7.41 | 25.48 | -7.68 | 6.26 | 10.94 | -16.17 | 7.68 | 11.33 | -14.62 | 5.89 | 7.51 | -22.9 | -5.65 | 4.82 | -26.64 | -13.62 | 2.64 | -28.26 | -9.59 | 0.34 | -8.11 | -5.56 | 12.62 | -12.91 | 4.73 | 81.63 | -11.11 | -13.67 | 96.89 | -1.33 | 1.99 | 3.56 | 96.98 | -28.89 | 13.59 | 0.37 | 1.8 |
| 23Q1 (16) | 2.56 | 2.81 | 71.81 | 27.60 | 11.16 | 14.29 | 13.05 | 18.74 | 41.69 | 13.27 | 15.69 | 37.09 | 9.74 | 11.19 | 38.55 | 6.57 | -0.3 | 46.0 | 3.68 | -0.54 | 48.39 | 0.37 | -11.9 | 5.71 | 14.49 | 15.55 | 29.61 | 91.83 | 27.67 | -2.48 | 98.19 | 2.43 | 3.36 | 1.81 | -56.35 | -63.9 | 13.54 | 1.65 | -5.18 |
| 22Q4 (15) | 2.49 | 22.66 | 75.35 | 24.83 | 10.06 | 1.26 | 10.99 | 27.79 | 54.14 | 11.47 | 9.55 | 46.68 | 8.76 | 11.31 | 12.74 | 6.59 | 18.1 | 52.55 | 3.70 | 25.0 | 45.67 | 0.42 | 13.51 | 31.25 | 12.54 | 6.54 | 30.9 | 71.93 | -20.76 | -3.57 | 95.86 | 17.23 | 5.36 | 4.14 | -76.71 | -54.1 | 13.32 | -1.62 | -22.33 |
| 22Q3 (14) | 2.03 | 7.41 | 144.58 | 22.56 | -5.92 | 0.76 | 8.60 | -15.35 | 36.94 | 10.47 | -2.15 | 46.84 | 7.87 | -1.13 | 42.57 | 5.58 | 0.0 | 91.75 | 2.96 | 1.37 | 66.29 | 0.37 | 2.78 | 19.35 | 11.77 | -2.32 | 30.78 | 90.77 | -4.01 | 27.02 | 81.78 | -13.92 | -7.25 | 17.76 | 255.14 | 50.13 | 13.54 | 1.42 | -21.23 |
| 22Q2 (13) | 1.89 | 26.85 | 360.98 | 23.98 | -0.7 | 5.27 | 10.16 | 10.31 | 226.69 | 10.70 | 10.54 | 127.66 | 7.96 | 13.23 | 136.9 | 5.58 | 24.0 | 250.94 | 2.92 | 17.74 | 186.27 | 0.36 | 2.86 | 24.14 | 12.05 | 7.78 | 76.69 | 94.56 | 0.41 | 48.26 | 95.00 | 0.0 | 42.5 | 5.00 | 0.0 | -85.0 | 13.35 | -6.51 | -27.88 |
| 22Q1 (12) | 1.49 | 4.93 | 451.85 | 24.15 | -1.51 | -0.62 | 9.21 | 29.17 | 150.27 | 9.68 | 23.79 | 185.55 | 7.03 | -9.52 | 221.0 | 4.50 | 4.17 | 378.72 | 2.48 | -2.36 | 275.76 | 0.35 | 9.37 | 20.69 | 11.18 | 16.7 | 98.58 | 94.17 | 26.25 | 65.09 | 95.00 | 4.41 | -12.31 | 5.00 | -44.5 | 160.0 | 14.28 | -16.73 | -24.4 |
| 21Q4 (11) | 1.42 | 71.08 | 100.0 | 24.52 | 9.51 | 3.29 | 7.13 | 13.54 | 59.87 | 7.82 | 9.68 | 32.54 | 7.77 | 40.76 | 41.53 | 4.32 | 48.45 | 86.21 | 2.54 | 42.7 | 54.88 | 0.32 | 3.23 | 6.67 | 9.58 | 6.44 | 18.13 | 74.59 | 4.38 | 84.04 | 90.99 | 3.2 | 19.43 | 9.01 | -23.83 | -62.16 | 17.15 | -0.23 | -5.46 |
| 21Q3 (10) | 0.83 | 102.44 | 10.67 | 22.39 | -1.71 | -10.9 | 6.28 | 101.93 | 13.77 | 7.13 | 51.7 | 4.55 | 5.52 | 64.29 | 1.47 | 2.91 | 83.02 | 22.27 | 1.78 | 74.51 | 13.38 | 0.31 | 6.9 | 10.71 | 9.00 | 31.96 | 0.0 | 71.46 | 12.04 | 56.61 | 88.17 | 32.26 | 8.75 | 11.83 | -64.52 | -37.48 | 17.19 | -7.13 | -6.88 |
| 21Q2 (9) | 0.41 | 51.85 | 10.81 | 22.78 | -6.26 | -17.67 | 3.11 | -15.49 | -19.01 | 4.70 | 38.64 | -6.75 | 3.36 | 53.42 | 7.01 | 1.59 | 69.15 | 26.19 | 1.02 | 54.55 | 30.77 | 0.29 | 0.0 | 20.83 | 6.82 | 21.14 | -8.46 | 63.78 | 11.82 | 3.81 | 66.67 | -38.46 | -12.28 | 33.33 | 500.0 | 38.89 | 18.51 | -2.01 | 0 |
| 21Q1 (8) | 0.27 | -61.97 | -80.71 | 24.30 | 2.36 | 0.25 | 3.68 | -17.49 | -53.65 | 3.39 | -42.54 | -62.04 | 2.19 | -60.11 | -68.4 | 0.94 | -59.48 | -77.46 | 0.66 | -59.76 | -73.91 | 0.29 | -3.33 | -19.44 | 5.63 | -30.58 | -46.38 | 57.04 | 40.74 | -20.48 | 108.33 | 42.19 | 21.65 | -8.33 | -135.0 | -176.11 | 18.89 | 4.13 | 0 |
| 20Q4 (7) | 0.71 | -5.33 | -67.58 | 23.74 | -5.53 | -18.62 | 4.46 | -19.2 | -56.91 | 5.90 | -13.49 | -41.18 | 5.49 | 0.92 | -34.56 | 2.32 | -2.52 | -63.86 | 1.64 | 4.46 | -57.62 | 0.30 | 7.14 | -34.78 | 8.11 | -9.89 | -27.46 | 40.53 | -11.18 | -34.77 | 76.19 | -6.03 | -26.44 | 23.81 | 25.85 | 877.78 | 18.14 | -1.73 | 10.27 |
| 20Q3 (6) | 0.75 | 102.7 | -63.05 | 25.13 | -9.18 | -19.94 | 5.52 | 43.75 | -59.47 | 6.82 | 35.32 | -49.85 | 5.44 | 73.25 | -45.55 | 2.38 | 88.89 | -61.86 | 1.57 | 101.28 | -57.57 | 0.28 | 16.67 | -24.32 | 9.00 | 20.81 | -40.0 | 45.63 | -25.73 | -37.33 | 81.08 | 6.69 | -18.92 | 18.92 | -21.17 | 0 | 18.46 | 0 | 18.18 |
| 20Q2 (5) | 0.37 | -73.57 | -75.66 | 27.67 | 14.15 | -0.4 | 3.84 | -51.64 | -63.71 | 5.04 | -43.56 | -55.44 | 3.14 | -54.69 | -59.85 | 1.26 | -69.78 | -73.8 | 0.78 | -69.17 | -74.26 | 0.24 | -33.33 | -36.84 | 7.45 | -29.05 | -41.38 | 61.44 | -14.35 | -7.82 | 76.00 | -14.66 | -18.57 | 24.00 | 119.2 | 260.0 | 0.00 | 0 | -100.0 |
| 20Q1 (4) | 1.40 | -36.07 | 0.0 | 24.24 | -16.9 | 0.0 | 7.94 | -23.29 | 0.0 | 8.93 | -10.97 | 0.0 | 6.93 | -17.4 | 0.0 | 4.17 | -35.05 | 0.0 | 2.53 | -34.63 | 0.0 | 0.36 | -21.74 | 0.0 | 10.50 | -6.08 | 0.0 | 71.73 | 15.45 | 0.0 | 89.05 | -14.02 | 0.0 | 10.95 | 457.66 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (3) | 2.19 | 7.88 | 0.0 | 29.17 | -7.07 | 0.0 | 10.35 | -24.01 | 0.0 | 10.03 | -26.25 | 0.0 | 8.39 | -16.02 | 0.0 | 6.42 | 2.88 | 0.0 | 3.87 | 4.59 | 0.0 | 0.46 | 24.32 | 0.0 | 11.18 | -25.47 | 0.0 | 62.13 | -14.67 | 0.0 | 103.57 | 3.57 | 0.0 | -3.06 | 0 | 0.0 | 16.45 | 5.31 | 0.0 |
| 19Q3 (2) | 2.03 | 33.55 | 0.0 | 31.39 | 12.99 | 0.0 | 13.62 | 28.73 | 0.0 | 13.60 | 20.25 | 0.0 | 9.99 | 27.75 | 0.0 | 6.24 | 29.73 | 0.0 | 3.70 | 22.11 | 0.0 | 0.37 | -2.63 | 0.0 | 15.00 | 18.02 | 0.0 | 72.81 | 9.24 | 0.0 | 100.00 | 7.14 | 0.0 | -0.00 | -100.0 | 0.0 | 15.62 | 0.71 | 0.0 |
| 19Q2 (1) | 1.52 | 0.0 | 0.0 | 27.78 | 0.0 | 0.0 | 10.58 | 0.0 | 0.0 | 11.31 | 0.0 | 0.0 | 7.82 | 0.0 | 0.0 | 4.81 | 0.0 | 0.0 | 3.03 | 0.0 | 0.0 | 0.38 | 0.0 | 0.0 | 12.71 | 0.0 | 0.0 | 66.65 | 0.0 | 0.0 | 93.33 | 0.0 | 0.0 | 6.67 | 0.0 | 0.0 | 15.51 | 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) | 8.38 | 6.08 | 26.54 | 11.05 | 11.48 | 17.14 | 1.00 | -7.68 | 11.97 | 12.39 | 8.48 | 6.27 | 20.89 | -3.95 | 12.84 | 0.39 | 1.49 | -5.1 | 13.21 | 10.64 | 59.86 | -16.78 | 95.84 | 4.28 | 4.16 | -47.87 | 1.07 | 12.04 | 14.17 | 4.34 |
| 2022 (9) | 7.90 | 168.71 | 23.90 | 1.66 | 9.80 | 87.38 | 1.08 | -40.28 | 10.65 | 78.69 | 7.98 | 61.21 | 21.75 | 130.65 | 12.79 | 109.33 | 1.57 | 29.75 | 11.94 | 50.57 | 71.93 | -3.57 | 91.90 | 4.73 | 7.98 | -34.86 | 0.95 | -11.44 | 13.58 | -23.92 |
| 2021 (8) | 2.94 | -8.98 | 23.51 | -6.19 | 5.23 | -8.57 | 1.81 | -1.53 | 5.96 | -14.0 | 4.95 | -9.17 | 9.43 | -4.17 | 6.11 | -7.42 | 1.21 | 1.68 | 7.93 | -11.5 | 74.59 | 84.04 | 87.76 | 6.42 | 12.24 | -30.18 | 1.08 | -20.82 | 17.85 | -0.06 |
| 2020 (7) | 3.23 | -51.43 | 25.06 | -11.85 | 5.72 | -45.05 | 1.83 | 56.51 | 6.93 | -34.99 | 5.45 | -32.63 | 9.84 | -51.0 | 6.60 | -49.39 | 1.19 | -25.63 | 8.96 | -25.4 | 40.53 | -34.77 | 82.46 | -15.61 | 17.54 | 665.85 | 1.36 | 9.25 | 17.86 | 11.49 |
| 2019 (6) | 6.65 | 87.85 | 28.43 | 16.42 | 10.41 | 50.65 | 1.17 | 20.08 | 10.66 | 56.53 | 8.09 | 54.1 | 20.08 | 73.4 | 13.04 | 65.27 | 1.60 | 8.11 | 12.01 | 48.82 | 62.13 | 30.09 | 97.71 | -3.7 | 2.29 | 0 | 1.24 | -23.8 | 16.02 | 1.07 |
| 2018 (5) | 3.54 | 6.31 | 24.42 | -3.97 | 6.91 | -9.2 | 0.98 | -8.92 | 6.81 | -12.13 | 5.25 | -0.38 | 11.58 | 1.4 | 7.89 | 0.51 | 1.48 | 0.68 | 8.07 | -11.03 | 47.76 | -4.04 | 101.46 | 3.39 | -1.46 | 0 | 1.63 | 0 | 15.85 | -1.74 |
| 2017 (4) | 3.33 | -29.75 | 25.43 | -3.78 | 7.61 | -12.63 | 1.07 | 15.27 | 7.75 | -11.93 | 5.27 | -18.04 | 11.42 | -22.94 | 7.85 | -24.81 | 1.47 | -9.26 | 9.07 | -8.29 | 49.77 | 10.67 | 98.14 | -0.97 | 1.86 | 107.11 | 0.00 | 0 | 16.13 | -2.0 |
| 2016 (3) | 4.74 | 8.97 | 26.43 | 2.88 | 8.71 | 2.71 | 0.93 | -5.29 | 8.80 | -2.55 | 6.43 | -6.27 | 14.82 | -0.07 | 10.44 | -3.6 | 1.62 | 2.53 | 9.89 | -3.23 | 44.97 | 12.2 | 99.10 | 5.62 | 0.90 | -85.44 | 0.00 | 0 | 16.46 | 6.54 |
| 2015 (2) | 4.35 | 24.29 | 25.69 | 6.6 | 8.48 | 32.5 | 0.98 | -14.29 | 9.03 | 29.56 | 6.86 | 35.04 | 14.83 | 33.72 | 10.83 | 30.48 | 1.58 | -3.07 | 10.22 | 22.25 | 40.08 | 19.43 | 93.83 | 2.43 | 6.17 | -26.49 | 0.00 | 0 | 15.45 | -5.79 |
| 2014 (1) | 3.50 | -4.11 | 24.10 | 0 | 6.40 | 0 | 1.15 | -7.19 | 6.97 | 0 | 5.08 | 0 | 11.09 | 0 | 8.30 | 0 | 1.63 | -4.68 | 8.36 | -8.23 | 33.56 | -3.4 | 91.60 | -3.52 | 8.40 | 66.0 | 0.00 | 0 | 16.40 | -3.02 |
