- 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) | 2.07 | -25.81 | 183.56 | 51.64 | -6.85 | 30.93 | 29.00 | -5.1 | 146.18 | 28.07 | -25.21 | 54.4 | 22.01 | -27.12 | 59.38 | 5.05 | -35.59 | 128.51 | 3.20 | -36.76 | 100.0 | 0.14 | -17.65 | 27.27 | 32.03 | -22.26 | 32.36 | 58.20 | -6.72 | 57.68 | 102.78 | 26.14 | 58.84 | -3.33 | -118.0 | -109.44 | 24.29 | -6.86 | -11.87 |
| 24Q2 (19) | 2.79 | 126.83 | 203.26 | 55.44 | 22.49 | 54.13 | 30.56 | 72.85 | 382.02 | 37.53 | 45.41 | 59.63 | 30.20 | 48.77 | 56.88 | 7.84 | 116.57 | 144.24 | 5.06 | 97.66 | 130.0 | 0.17 | 41.67 | 54.55 | 41.20 | 33.42 | 39.95 | 62.39 | 25.51 | 39.98 | 81.48 | 18.52 | 202.16 | 18.52 | -40.74 | -74.64 | 26.08 | -5.47 | -16.86 |
| 24Q1 (18) | 1.23 | 83.58 | 38.2 | 45.26 | -2.41 | 14.29 | 17.68 | 6.63 | 12.61 | 25.81 | 58.73 | 44.19 | 20.30 | 44.59 | 44.48 | 3.62 | 53.39 | 39.23 | 2.56 | 46.29 | 42.22 | 0.12 | 0.0 | 0.0 | 30.88 | 41.59 | 32.59 | 49.71 | 30.64 | -5.39 | 68.75 | -33.27 | -22.01 | 31.25 | 2162.5 | 163.89 | 27.59 | -4.3 | 4.98 |
| 23Q4 (17) | 0.67 | -8.22 | -12.99 | 46.38 | 17.6 | 3.14 | 16.58 | 40.75 | -15.62 | 16.26 | -10.56 | 1.63 | 14.04 | 1.67 | 12.32 | 2.36 | 6.79 | 8.76 | 1.75 | 9.37 | 13.64 | 0.12 | 9.09 | 0.0 | 21.81 | -9.88 | 3.02 | 38.05 | 3.09 | -14.67 | 103.03 | 59.23 | -16.05 | -1.52 | -104.29 | 93.33 | 28.83 | 4.61 | 5.53 |
| 23Q3 (16) | 0.73 | -20.65 | -48.23 | 39.44 | 9.65 | -5.37 | 11.78 | 85.8 | -29.08 | 18.18 | -22.67 | -36.41 | 13.81 | -28.26 | -36.91 | 2.21 | -31.15 | -54.53 | 1.60 | -27.27 | -51.07 | 0.11 | 0.0 | -26.67 | 24.20 | -17.8 | -25.95 | 36.91 | -17.19 | -16.36 | 64.71 | 139.95 | 11.69 | 35.29 | -51.67 | -16.1 | 27.56 | -12.15 | 3.22 |
| 23Q2 (15) | 0.92 | 3.37 | -37.41 | 35.97 | -9.17 | -12.5 | 6.34 | -59.62 | -61.06 | 23.51 | 31.34 | -17.65 | 19.25 | 37.01 | -15.27 | 3.21 | 23.46 | -30.67 | 2.20 | 22.22 | -30.38 | 0.11 | -8.33 | -21.43 | 29.44 | 26.41 | -9.97 | 44.57 | -15.17 | -21.39 | 26.97 | -69.41 | -52.98 | 73.03 | 516.73 | 68.35 | 31.37 | 19.37 | 17.23 |
| 23Q1 (14) | 0.89 | 15.58 | 25.35 | 39.60 | -11.94 | 10.52 | 15.70 | -20.1 | 39.68 | 17.90 | 11.87 | 14.67 | 14.05 | 12.4 | 15.64 | 2.60 | 19.82 | 17.12 | 1.80 | 16.88 | 15.38 | 0.12 | 0.0 | -7.69 | 23.29 | 10.01 | 15.64 | 52.54 | 17.83 | 34.65 | 88.16 | -28.17 | 21.66 | 11.84 | 152.11 | -56.99 | 26.28 | -3.81 | 2.38 |
| 22Q4 (13) | 0.77 | -45.39 | -12.5 | 44.97 | 7.89 | 17.23 | 19.65 | 18.3 | 26.77 | 16.00 | -44.04 | -1.96 | 12.50 | -42.9 | -2.57 | 2.17 | -55.35 | -22.22 | 1.54 | -52.91 | -20.21 | 0.12 | -20.0 | -20.0 | 21.17 | -35.22 | 5.01 | 44.59 | 1.04 | -7.78 | 122.73 | 111.85 | 30.59 | -22.73 | -154.02 | -571.59 | 27.32 | 2.32 | 18.78 |
| 22Q3 (12) | 1.41 | -4.08 | 58.43 | 41.68 | 1.39 | 9.43 | 16.61 | 2.03 | 21.86 | 28.59 | 0.14 | 50.95 | 21.89 | -3.65 | 51.38 | 4.86 | 4.97 | 63.09 | 3.27 | 3.48 | 52.8 | 0.15 | 7.14 | 0.0 | 32.68 | -0.06 | 42.33 | 44.13 | -22.17 | -0.09 | 57.93 | 1.01 | -18.9 | 42.07 | -3.03 | 53.13 | 26.70 | -0.22 | 7.62 |
| 22Q2 (11) | 1.47 | 107.04 | -7.55 | 41.11 | 14.74 | 9.48 | 16.28 | 44.84 | 65.95 | 28.55 | 82.9 | -2.56 | 22.72 | 87.0 | -15.63 | 4.63 | 108.56 | -0.64 | 3.16 | 102.56 | -10.99 | 0.14 | 7.69 | 7.69 | 32.70 | 62.36 | -4.25 | 56.70 | 45.31 | 51.56 | 57.35 | -20.85 | 70.62 | 43.38 | 57.55 | -34.65 | 26.76 | 4.25 | -11.57 |
| 22Q1 (10) | 0.71 | -19.32 | 57.78 | 35.83 | -6.6 | 4.25 | 11.24 | -27.48 | 9.13 | 15.61 | -4.35 | 12.55 | 12.15 | -5.3 | 14.95 | 2.22 | -20.43 | 33.73 | 1.56 | -19.17 | 22.83 | 0.13 | -13.33 | 8.33 | 20.14 | -0.1 | 3.81 | 39.02 | -19.3 | 52.78 | 72.46 | -22.89 | -2.75 | 27.54 | 471.38 | 8.03 | 25.67 | 11.61 | 0.35 |
| 21Q4 (9) | 0.88 | -1.12 | 252.0 | 38.36 | 0.71 | 9.41 | 15.50 | 13.72 | 38.15 | 16.32 | -13.83 | 159.46 | 12.83 | -11.27 | 109.64 | 2.79 | -6.38 | 165.71 | 1.93 | -9.81 | 147.44 | 0.15 | 0.0 | 25.0 | 20.16 | -12.2 | 70.99 | 48.35 | 9.46 | 26.8 | 93.98 | 31.57 | -46.6 | 4.82 | -82.46 | 106.34 | 23.00 | -7.3 | -9.16 |
| 21Q3 (8) | 0.89 | -44.03 | 97.78 | 38.09 | 1.44 | 1.57 | 13.63 | 38.94 | 10.45 | 18.94 | -35.36 | 58.1 | 14.46 | -46.31 | 68.14 | 2.98 | -36.05 | 96.05 | 2.14 | -39.72 | 94.55 | 0.15 | 15.38 | 15.38 | 22.96 | -32.77 | 33.33 | 44.17 | 18.07 | 16.85 | 71.43 | 112.5 | -30.06 | 27.47 | -58.62 | 1391.21 | 24.81 | -18.01 | -3.2 |
| 21Q2 (7) | 1.59 | 253.33 | 11.19 | 37.55 | 9.25 | -7.26 | 9.81 | -4.76 | -38.53 | 29.30 | 111.25 | 1.07 | 26.93 | 154.78 | 13.25 | 4.66 | 180.72 | 3.56 | 3.55 | 179.53 | 5.65 | 0.13 | 8.33 | -7.14 | 34.15 | 76.03 | 0.8 | 37.41 | 46.48 | -12.0 | 33.61 | -54.89 | -38.7 | 66.39 | 160.44 | 47.0 | 30.26 | 18.3 | 0 |
| 21Q1 (6) | 0.45 | 80.0 | 662.5 | 34.37 | -1.97 | -5.96 | 10.30 | -8.2 | 53.96 | 13.87 | 120.51 | 395.36 | 10.57 | 72.71 | 1146.53 | 1.66 | 58.1 | 1483.33 | 1.27 | 62.82 | 1511.11 | 0.12 | 0.0 | 33.33 | 19.40 | 64.55 | 91.32 | 25.54 | -33.02 | -5.3 | 74.51 | -57.66 | -66.88 | 25.49 | 133.54 | 118.54 | 25.58 | 1.03 | 0 |
| 20Q4 (5) | 0.25 | -44.44 | -35.9 | 35.06 | -6.51 | -9.83 | 11.22 | -9.08 | 3.51 | 6.29 | -47.5 | -44.97 | 6.12 | -28.84 | -30.38 | 1.05 | -30.92 | -18.6 | 0.78 | -29.09 | -25.0 | 0.12 | -7.69 | 9.09 | 11.79 | -31.53 | -33.2 | 38.13 | 0.87 | 59.27 | 176.00 | 72.33 | 85.51 | -76.00 | -3472.0 | -1582.0 | 25.32 | -1.21 | -14.89 |
| 20Q3 (4) | 0.45 | -68.53 | 0.0 | 37.50 | -7.38 | 0.0 | 12.34 | -22.68 | 0.0 | 11.98 | -58.68 | 0.0 | 8.60 | -63.84 | 0.0 | 1.52 | -66.22 | 0.0 | 1.10 | -67.26 | 0.0 | 0.13 | -7.14 | 0.0 | 17.22 | -49.17 | 0.0 | 37.80 | -11.08 | 0.0 | 102.13 | 86.23 | 0.0 | -2.13 | -104.71 | 0.0 | 25.63 | 0 | 0.0 |
| 20Q2 (3) | 1.43 | 1887.5 | 0.0 | 40.49 | 10.78 | 0.0 | 15.96 | 138.57 | 0.0 | 28.99 | 935.36 | 0.0 | 23.78 | 2454.46 | 0.0 | 4.50 | 3850.0 | 0.0 | 3.36 | 3833.33 | 0.0 | 0.14 | 55.56 | 0.0 | 33.88 | 234.12 | 0.0 | 42.51 | 57.62 | 0.0 | 54.84 | -75.63 | 0.0 | 45.16 | 132.84 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | -0.08 | -120.51 | 0.0 | 36.55 | -5.99 | 0.0 | 6.69 | -38.28 | 0.0 | 2.80 | -75.5 | 0.0 | -1.01 | -111.49 | 0.0 | -0.12 | -109.3 | 0.0 | -0.09 | -108.65 | 0.0 | 0.09 | -18.18 | 0.0 | 10.14 | -42.55 | 0.0 | 26.97 | 12.66 | 0.0 | 225.00 | 137.16 | 0.0 | -137.50 | -2781.25 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 0.39 | 0.0 | 0.0 | 38.88 | 0.0 | 0.0 | 10.84 | 0.0 | 0.0 | 11.43 | 0.0 | 0.0 | 8.79 | 0.0 | 0.0 | 1.29 | 0.0 | 0.0 | 1.04 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 17.65 | 0.0 | 0.0 | 23.94 | 0.0 | 0.0 | 94.87 | 0.0 | 0.0 | 5.13 | 0.0 | 0.0 | 29.75 | 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) | 3.20 | -26.61 | 40.44 | -1.03 | 12.77 | -19.79 | 4.29 | 31.42 | 18.88 | -16.61 | 15.22 | -13.82 | 9.95 | -26.95 | 7.20 | -23.49 | 0.46 | -13.21 | 24.54 | -9.25 | 38.05 | -14.67 | 67.56 | -3.75 | 32.44 | 8.84 | 2.97 | -9.28 | 28.45 | 6.91 |
| 2022 (9) | 4.36 | 14.44 | 40.86 | 9.63 | 15.92 | 26.45 | 3.26 | -2.73 | 22.64 | 15.92 | 17.66 | 9.89 | 13.62 | 13.03 | 9.41 | 11.23 | 0.53 | 1.92 | 27.04 | 12.9 | 44.59 | -7.78 | 70.19 | 8.94 | 29.81 | -16.2 | 3.27 | 5.08 | 26.61 | 3.5 |
| 2021 (8) | 3.81 | 87.68 | 37.27 | -0.72 | 12.59 | 4.57 | 3.36 | -25.82 | 19.53 | 42.76 | 16.07 | 52.47 | 12.05 | 80.12 | 8.46 | 63.64 | 0.52 | 8.33 | 23.95 | 24.03 | 48.35 | 26.8 | 64.43 | -26.52 | 35.57 | 200.85 | 3.12 | -20.43 | 25.71 | -6.0 |
| 2020 (7) | 2.03 | -51.08 | 37.54 | -3.1 | 12.04 | -24.32 | 4.52 | 23.99 | 13.68 | -40.5 | 10.54 | -42.47 | 6.69 | -52.35 | 5.17 | -54.73 | 0.48 | -22.58 | 19.31 | -29.73 | 38.13 | 59.27 | 87.68 | 26.66 | 11.82 | -61.58 | 3.92 | -2.3 | 27.35 | 1.86 |
| 2019 (6) | 4.15 | 4.01 | 38.74 | 7.7 | 15.91 | 3.99 | 3.65 | 20.96 | 22.99 | 21.13 | 18.32 | 23.45 | 14.04 | 9.18 | 11.42 | 15.01 | 0.62 | -6.06 | 27.48 | 20.1 | 23.94 | 1.35 | 69.23 | -14.3 | 30.77 | 57.63 | 4.01 | -17.83 | 26.85 | 3.19 |
| 2018 (5) | 3.99 | 10.53 | 35.97 | -6.45 | 15.30 | -15.14 | 3.02 | -15.59 | 18.98 | 9.52 | 14.84 | 7.23 | 12.86 | 13.5 | 9.93 | 16.96 | 0.66 | 8.2 | 22.88 | 5.39 | 23.62 | -39.19 | 80.78 | -22.24 | 19.52 | 0 | 4.88 | 0 | 26.02 | -7.44 |
| 2017 (4) | 3.61 | -15.46 | 38.45 | 6.48 | 18.03 | 6.75 | 3.57 | -4.95 | 17.33 | -5.25 | 13.84 | -11.4 | 11.33 | -13.18 | 8.49 | -15.44 | 0.61 | -4.69 | 21.71 | -5.44 | 38.84 | 29.08 | 103.89 | 12.41 | -3.89 | 0 | 0.00 | 0 | 28.11 | 2.37 |
| 2016 (3) | 4.27 | -5.53 | 36.11 | -8.42 | 16.89 | -6.94 | 3.76 | -10.83 | 18.29 | -12.32 | 15.62 | -11.15 | 13.05 | -13.46 | 10.04 | -14.55 | 0.64 | -4.48 | 22.96 | -11.21 | 30.09 | -5.23 | 92.42 | 6.39 | 7.58 | -42.27 | 0.00 | 0 | 27.46 | -5.89 |
| 2015 (2) | 4.52 | 26.61 | 39.43 | 8.5 | 18.15 | 19.64 | 4.22 | -7.09 | 20.86 | 22.85 | 17.58 | 21.41 | 15.08 | 18.46 | 11.75 | 13.75 | 0.67 | -5.63 | 25.86 | 15.6 | 31.75 | 28.54 | 86.87 | -2.62 | 13.13 | 21.61 | 0.00 | 0 | 29.18 | -8.09 |
| 2014 (1) | 3.57 | 9.17 | 36.34 | 0 | 15.17 | 0 | 4.54 | -7.01 | 16.98 | 0 | 14.48 | 0 | 12.73 | 0 | 10.33 | 0 | 0.71 | 5.97 | 22.37 | -6.21 | 24.70 | 14.94 | 89.20 | -4.32 | 10.80 | 59.48 | 0.00 | 0 | 31.75 | 6.58 |
