- 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) | 1.32 | -51.47 | -61.52 | 19.41 | -9.21 | -21.1 | 4.61 | -12.19 | -56.39 | 5.48 | -49.63 | -57.35 | 4.30 | -58.45 | -59.96 | 2.39 | -55.66 | -66.99 | 1.27 | -52.79 | -62.65 | 0.27 | 8.0 | -12.9 | 10.59 | -36.47 | -39.24 | 110.07 | 15.39 | 0.46 | 83.69 | 73.98 | 1.76 | 15.60 | -69.94 | -12.13 | 15.33 | -7.48 | 4.29 |
| 24Q2 (19) | 2.72 | 68.94 | -18.32 | 21.38 | 16.51 | -1.57 | 5.25 | 124.36 | -15.19 | 10.88 | 36.17 | -22.01 | 10.35 | 49.57 | -19.08 | 5.39 | 61.38 | -31.25 | 2.69 | 66.05 | -23.14 | 0.25 | 13.64 | -7.41 | 16.67 | 17.73 | -14.47 | 95.39 | -21.48 | -27.72 | 48.10 | 63.54 | 8.52 | 51.90 | -26.48 | -6.78 | 16.57 | -2.47 | -13.47 |
| 24Q1 (18) | 1.61 | 64.29 | 302.5 | 18.35 | -17.27 | -2.65 | 2.34 | -34.45 | -39.69 | 7.99 | 80.77 | 188.45 | 6.92 | 87.03 | 278.14 | 3.34 | 74.87 | 255.32 | 1.62 | 62.0 | 205.66 | 0.22 | -8.33 | -4.35 | 14.16 | 39.1 | 53.08 | 121.48 | 6.25 | -6.07 | 29.41 | -63.53 | -78.93 | 70.59 | 264.71 | 278.33 | 16.99 | -4.28 | 13.49 |
| 23Q4 (17) | 0.98 | -71.43 | 44.12 | 22.18 | -9.84 | -4.4 | 3.57 | -66.23 | -49.0 | 4.42 | -65.6 | 20.77 | 3.70 | -65.55 | 18.97 | 1.91 | -73.62 | 26.49 | 1.00 | -70.59 | 20.48 | 0.24 | -22.58 | 4.35 | 10.18 | -41.59 | -0.29 | 114.33 | 4.34 | 5.93 | 80.65 | -1.94 | -57.98 | 19.35 | 9.0 | 121.05 | 17.75 | 20.75 | 8.5 |
| 23Q3 (16) | 3.43 | 3.0 | 66.5 | 24.60 | 13.26 | 33.26 | 10.57 | 70.76 | 514.53 | 12.85 | -7.89 | 27.99 | 10.74 | -16.03 | 25.91 | 7.24 | -7.65 | 53.39 | 3.40 | -2.86 | 56.68 | 0.31 | 14.81 | 29.17 | 17.43 | -10.57 | 10.11 | 109.57 | -16.98 | -6.82 | 82.24 | 85.54 | 385.75 | 17.76 | -68.11 | -78.62 | 14.70 | -23.24 | -23.2 |
| 23Q2 (15) | 3.33 | 732.5 | 73.44 | 21.72 | 15.23 | 19.67 | 6.19 | 59.54 | 75.35 | 13.95 | 403.61 | 75.69 | 12.79 | 598.91 | 58.1 | 7.84 | 734.04 | 71.55 | 3.50 | 560.38 | 82.29 | 0.27 | 17.39 | 17.39 | 19.49 | 110.7 | 45.99 | 131.98 | 2.05 | -6.56 | 44.33 | -68.24 | 0.25 | 55.67 | 240.65 | -0.19 | 19.15 | 27.92 | -0.52 |
| 23Q1 (14) | 0.40 | -41.18 | -77.01 | 18.85 | -18.75 | -3.92 | 3.88 | -44.57 | -35.97 | 2.77 | -24.32 | -65.8 | 1.83 | -41.16 | -73.17 | 0.94 | -37.75 | -77.62 | 0.53 | -36.14 | -69.54 | 0.23 | 0.0 | -8.0 | 9.25 | -9.4 | -28.57 | 129.33 | 19.83 | -16.6 | 139.58 | -27.28 | 87.27 | -39.58 | 56.94 | -259.32 | 14.97 | -8.5 | -13.67 |
| 22Q4 (13) | 0.68 | -66.99 | -67.92 | 23.20 | 25.68 | 19.9 | 7.00 | 306.98 | 8.36 | 3.66 | -63.55 | -52.41 | 3.11 | -63.54 | -52.15 | 1.51 | -68.01 | -71.29 | 0.83 | -61.75 | -61.21 | 0.23 | -4.17 | -28.12 | 10.21 | -35.5 | -9.89 | 107.93 | -8.21 | -25.76 | 191.94 | 1033.62 | 128.38 | -91.94 | -210.67 | -676.13 | 16.36 | -14.52 | 8.2 |
| 22Q3 (12) | 2.06 | 7.29 | 51.47 | 18.46 | 1.71 | 4.71 | 1.72 | -51.27 | -62.93 | 10.04 | 26.45 | 74.91 | 8.53 | 5.44 | 77.34 | 4.72 | 3.28 | 28.96 | 2.17 | 13.02 | 45.64 | 0.24 | 4.35 | -20.0 | 15.83 | 18.58 | 64.04 | 117.59 | -16.74 | -27.13 | 16.93 | -61.71 | -79.1 | 83.07 | 48.92 | 337.01 | 19.14 | -0.57 | 15.58 |
| 22Q2 (11) | 1.92 | 10.34 | 50.0 | 18.15 | -7.49 | -3.66 | 3.53 | -41.75 | -27.81 | 7.94 | -1.98 | 42.81 | 8.09 | 18.62 | 51.5 | 4.57 | 8.81 | 34.02 | 1.92 | 10.34 | 33.33 | 0.23 | -8.0 | -11.54 | 13.35 | 3.09 | 31.4 | 141.24 | -8.92 | -3.34 | 44.22 | -40.67 | -49.92 | 55.78 | 124.52 | 376.69 | 19.25 | 11.01 | 11.01 |
| 22Q1 (10) | 1.74 | -17.92 | 148.57 | 19.62 | 1.4 | 2.72 | 6.06 | -6.19 | 35.27 | 8.10 | 5.33 | 71.97 | 6.82 | 4.92 | 117.2 | 4.20 | -20.15 | 125.81 | 1.74 | -18.69 | 107.14 | 0.25 | -21.88 | 0.0 | 12.95 | 14.3 | 37.18 | 155.08 | 6.67 | 7.74 | 74.53 | -11.31 | -22.32 | 24.84 | 55.69 | 359.63 | 17.34 | 14.68 | 0.99 |
| 21Q4 (9) | 2.12 | 55.88 | 285.45 | 19.35 | 9.76 | -12.05 | 6.46 | 39.22 | 4.7 | 7.69 | 33.97 | 114.8 | 6.50 | 35.14 | 185.09 | 5.26 | 43.72 | 273.05 | 2.14 | 43.62 | 214.71 | 0.32 | 6.67 | 18.52 | 11.33 | 17.41 | 51.07 | 145.38 | -9.91 | 5.87 | 84.04 | 3.77 | -50.91 | 15.96 | -16.05 | 122.42 | 15.12 | -8.7 | -7.97 |
| 21Q3 (8) | 1.36 | 6.25 | -4.23 | 17.63 | -6.42 | -26.45 | 4.64 | -5.11 | -56.84 | 5.74 | 3.24 | -29.57 | 4.81 | -9.93 | -16.06 | 3.66 | 7.33 | -7.11 | 1.49 | 3.47 | -20.32 | 0.30 | 15.38 | -6.25 | 9.65 | -5.02 | -21.54 | 161.37 | 10.44 | 31.94 | 80.99 | -8.27 | -38.71 | 19.01 | 62.43 | 159.14 | 16.56 | -4.5 | 3.44 |
| 21Q2 (7) | 1.28 | 82.86 | -49.21 | 18.84 | -1.36 | -30.68 | 4.89 | 9.15 | -62.09 | 5.56 | 18.05 | -57.91 | 5.34 | 70.06 | -44.61 | 3.41 | 83.33 | -49.48 | 1.44 | 71.43 | -55.83 | 0.26 | 4.0 | -21.21 | 10.16 | 7.63 | -38.76 | 146.12 | 1.51 | 28.47 | 88.30 | -7.97 | -9.56 | 11.70 | 116.49 | 393.83 | 17.34 | 0.99 | 0 |
| 21Q1 (6) | 0.70 | 27.27 | 677.78 | 19.10 | -13.18 | 7.42 | 4.48 | -27.39 | 2047.83 | 4.71 | 31.56 | 340.19 | 3.14 | 37.72 | 441.38 | 1.86 | 31.91 | 644.0 | 0.84 | 23.53 | 223.08 | 0.25 | -7.41 | 25.0 | 9.44 | 25.87 | 30.75 | 143.94 | 4.82 | 24.67 | 95.95 | -43.95 | 579.73 | 5.41 | 107.59 | -95.5 | 17.17 | 4.5 | -10.53 |
| 20Q4 (5) | 0.55 | -61.27 | -46.08 | 22.00 | -8.22 | -2.31 | 6.17 | -42.6 | -11.86 | 3.58 | -56.07 | -27.38 | 2.28 | -60.21 | -50.0 | 1.41 | -64.21 | -50.7 | 0.68 | -63.64 | -52.45 | 0.27 | -15.62 | -3.57 | 7.50 | -39.02 | -28.09 | 137.32 | 12.27 | 14.4 | 171.19 | 29.55 | 19.25 | -71.19 | -121.47 | -69.75 | 16.43 | 2.62 | -1.68 |
| 20Q3 (4) | 1.42 | -43.65 | 0.0 | 23.97 | -11.81 | 0.0 | 10.75 | -16.67 | 0.0 | 8.15 | -38.3 | 0.0 | 5.73 | -40.56 | 0.0 | 3.94 | -41.63 | 0.0 | 1.87 | -42.64 | 0.0 | 0.32 | -3.03 | 0.0 | 12.30 | -25.86 | 0.0 | 122.31 | 7.53 | 0.0 | 132.14 | 35.35 | 0.0 | -32.14 | -1456.43 | 0.0 | 16.01 | 0 | 0.0 |
| 20Q2 (3) | 2.52 | 2700.0 | 0.0 | 27.18 | 52.87 | 0.0 | 12.90 | 5708.7 | 0.0 | 13.21 | 1134.58 | 0.0 | 9.64 | 1562.07 | 0.0 | 6.75 | 2600.0 | 0.0 | 3.26 | 1153.85 | 0.0 | 0.33 | 65.0 | 0.0 | 16.59 | 129.78 | 0.0 | 113.74 | -1.49 | 0.0 | 97.63 | 588.15 | 0.0 | 2.37 | -98.03 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.09 | -91.18 | 0.0 | 17.78 | -21.05 | 0.0 | -0.23 | -103.29 | 0.0 | 1.07 | -78.3 | 0.0 | 0.58 | -87.28 | 0.0 | 0.25 | -91.26 | 0.0 | 0.26 | -81.82 | 0.0 | 0.20 | -28.57 | 0.0 | 7.22 | -30.78 | 0.0 | 115.46 | -3.81 | 0.0 | -20.00 | -113.93 | 0.0 | 120.00 | 386.15 | 0.0 | 19.19 | 14.84 | 0.0 |
| 19Q4 (1) | 1.02 | 0.0 | 0.0 | 22.52 | 0.0 | 0.0 | 7.00 | 0.0 | 0.0 | 4.93 | 0.0 | 0.0 | 4.56 | 0.0 | 0.0 | 2.86 | 0.0 | 0.0 | 1.43 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 10.43 | 0.0 | 0.0 | 120.03 | 0.0 | 0.0 | 143.55 | 0.0 | 0.0 | -41.94 | 0.0 | 0.0 | 16.71 | 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) | 8.03 | 25.47 | 22.11 | 11.78 | 6.37 | 40.31 | 4.85 | -2.37 | 8.92 | 18.46 | 7.63 | 13.54 | 16.76 | 12.94 | 8.33 | 20.03 | 1.04 | 6.12 | 14.43 | 9.73 | 114.33 | 5.93 | 71.37 | 18.39 | 28.63 | -27.91 | 0.38 | -25.4 | 16.60 | -8.03 |
| 2022 (9) | 6.40 | 19.85 | 19.78 | 5.61 | 4.54 | -13.19 | 4.97 | 35.96 | 7.53 | 23.44 | 6.72 | 31.25 | 14.84 | 9.68 | 6.94 | 19.45 | 0.98 | -10.09 | 13.15 | 28.17 | 107.93 | -25.76 | 60.29 | -29.69 | 39.71 | 178.58 | 0.51 | 72.92 | 18.05 | 10.06 |
| 2021 (8) | 5.34 | 22.48 | 18.73 | -19.75 | 5.23 | -37.51 | 3.66 | 4.07 | 6.10 | -14.8 | 5.12 | 1.59 | 13.53 | 8.76 | 5.81 | 0.69 | 1.09 | 1.87 | 10.26 | -9.52 | 145.38 | 5.87 | 85.74 | -26.5 | 14.26 | 0 | 0.29 | -46.21 | 16.40 | -1.91 |
| 2020 (7) | 4.36 | 40.19 | 23.34 | 20.43 | 8.37 | 72.58 | 3.51 | -2.43 | 7.16 | 46.12 | 5.04 | 38.84 | 12.44 | 39.46 | 5.77 | 21.73 | 1.07 | -4.46 | 11.34 | 19.87 | 137.32 | 14.4 | 116.67 | 18.16 | -16.90 | 0 | 0.54 | -26.03 | 16.72 | 5.42 |
| 2019 (6) | 3.11 | 288.75 | 19.38 | 30.15 | 4.85 | 463.95 | 3.60 | -5.66 | 4.90 | 196.97 | 3.63 | 274.23 | 8.92 | 300.0 | 4.74 | 200.0 | 1.12 | 4.67 | 9.46 | 51.6 | 120.03 | 1.11 | 98.73 | 87.08 | 0.84 | -98.26 | 0.74 | 116.75 | 15.86 | 9.08 |
| 2018 (5) | 0.80 | 627.27 | 14.89 | -11.37 | 0.86 | -59.05 | 3.82 | -2.65 | 1.65 | 534.62 | 0.97 | 546.67 | 2.23 | 619.35 | 1.58 | 187.27 | 1.07 | 9.18 | 6.24 | 30.82 | 118.71 | 7.55 | 52.78 | -93.56 | 48.61 | 0 | 0.34 | 0 | 14.54 | -36.78 |
| 2017 (4) | 0.11 | -95.82 | 16.80 | -10.88 | 2.10 | -31.37 | 3.92 | -9.92 | 0.26 | -93.98 | 0.15 | -95.55 | 0.31 | -94.93 | 0.55 | -84.2 | 0.98 | 4.26 | 4.77 | -48.26 | 110.38 | 9.23 | 820.00 | 1061.67 | -720.00 | 0 | 0.00 | 0 | 23.00 | -5.0 |
| 2016 (3) | 2.63 | 0 | 18.85 | 33.4 | 3.06 | 0 | 4.35 | -20.12 | 4.32 | 0 | 3.37 | 0 | 6.12 | 0 | 3.48 | 0 | 0.94 | 25.33 | 9.22 | 103.08 | 101.05 | 17.94 | 70.59 | -72.41 | 29.41 | 0 | 0.00 | 0 | 24.21 | -8.85 |
| 2015 (2) | -0.73 | 0 | 14.13 | -5.04 | -4.01 | 0 | 5.45 | 40.1 | -1.58 | 0 | -1.32 | 0 | -1.83 | 0 | -0.68 | 0 | 0.75 | -10.71 | 4.54 | -2.37 | 85.68 | -0.43 | 255.81 | 0 | -155.81 | 0 | 0.00 | 0 | 26.56 | 14.29 |
| 2014 (1) | 0.13 | 0 | 14.88 | 0 | -1.18 | 0 | 3.89 | 2.0 | 0.07 | 0 | 0.06 | 0 | 0.10 | 0 | 0.34 | 0 | 0.84 | 2.44 | 4.65 | 76.14 | 86.05 | 15.36 | -1800.00 | 0 | 1900.00 | 7092.86 | 0.00 | 0 | 23.24 | 2.79 |
