- 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) | 0.99 | -36.13 | -29.29 | 23.99 | -0.25 | 0.33 | 12.41 | -1.19 | 2.99 | 9.47 | -36.53 | -38.31 | 7.45 | -35.05 | -38.88 | 1.72 | -37.68 | -33.33 | 1.31 | -37.02 | -34.5 | 0.17 | -5.56 | 6.25 | 11.98 | -30.79 | -33.92 | 30.92 | -8.52 | 22.8 | 130.87 | 55.74 | 65.98 | -30.87 | -298.59 | -242.7 | 18.77 | -5.96 | -3.69 |
| 24Q2 (19) | 1.55 | -3.13 | 27.05 | 24.05 | -4.68 | 12.59 | 12.56 | -3.31 | 39.87 | 14.92 | -13.66 | -6.69 | 11.47 | -16.4 | 9.45 | 2.76 | -4.83 | 20.0 | 2.08 | -7.56 | 23.08 | 0.18 | 12.5 | 12.5 | 17.31 | -13.49 | -7.68 | 33.80 | 5.76 | -0.53 | 84.03 | 11.73 | 49.62 | 15.55 | -37.29 | -64.54 | 19.96 | 3.8 | 6.4 |
| 24Q1 (18) | 1.60 | 79.78 | 102.53 | 25.23 | -5.65 | 6.77 | 12.99 | -5.73 | 15.16 | 17.28 | 73.49 | 67.44 | 13.72 | 70.86 | 90.03 | 2.90 | 81.25 | 98.63 | 2.25 | 75.78 | 104.55 | 0.16 | 0.0 | 6.67 | 20.01 | 55.36 | 49.11 | 31.96 | 22.12 | -17.16 | 75.21 | -45.68 | -30.97 | 24.79 | 164.45 | 376.82 | 19.23 | 0.0 | -0.21 |
| 23Q4 (17) | 0.89 | -36.43 | -18.35 | 26.74 | 11.84 | 1.79 | 13.78 | 14.36 | -2.75 | 9.96 | -35.11 | -11.94 | 8.03 | -34.13 | -8.12 | 1.60 | -37.98 | -18.37 | 1.28 | -36.0 | -14.67 | 0.16 | 0.0 | -5.88 | 12.88 | -28.96 | -7.87 | 26.17 | 3.93 | -18.8 | 138.46 | 75.61 | 10.64 | -38.46 | -277.78 | -52.93 | 19.23 | -1.33 | -8.25 |
| 23Q3 (16) | 1.40 | 14.75 | -50.35 | 23.91 | 11.94 | -9.53 | 12.05 | 34.19 | -26.12 | 15.35 | -4.0 | -40.11 | 12.19 | 16.32 | -38.06 | 2.58 | 12.17 | -51.14 | 2.00 | 18.34 | -48.72 | 0.16 | 0.0 | -20.0 | 18.13 | -3.31 | -35.09 | 25.18 | -25.9 | -22.36 | 78.85 | 40.38 | 23.82 | 21.63 | -50.65 | -40.44 | 19.49 | 3.89 | 22.42 |
| 23Q2 (15) | 1.22 | 54.43 | -20.78 | 21.36 | -9.61 | 2.15 | 8.98 | -20.39 | -6.26 | 15.99 | 54.94 | 3.43 | 10.48 | 45.15 | -10.81 | 2.30 | 57.53 | -23.59 | 1.69 | 53.64 | -22.12 | 0.16 | 6.67 | -11.11 | 18.75 | 39.72 | 4.34 | 33.98 | -11.92 | -13.89 | 56.16 | -48.45 | -9.53 | 43.84 | 589.5 | 15.61 | 18.76 | -2.65 | -3.55 |
| 23Q1 (14) | 0.79 | -27.52 | -18.56 | 23.63 | -10.05 | 36.75 | 11.28 | -20.4 | 62.54 | 10.32 | -8.75 | -5.41 | 7.22 | -17.39 | -9.3 | 1.46 | -25.51 | -23.56 | 1.10 | -26.67 | -20.29 | 0.15 | -11.76 | -11.76 | 13.42 | -4.01 | -1.25 | 38.58 | 19.7 | -3.28 | 108.96 | -12.94 | 71.06 | -8.96 | 64.39 | -124.67 | 19.27 | -8.06 | -2.58 |
| 22Q4 (13) | 1.09 | -61.35 | 172.5 | 26.27 | -0.61 | 49.35 | 14.17 | -13.12 | 142.64 | 11.31 | -55.87 | 144.81 | 8.74 | -55.59 | 178.34 | 1.96 | -62.88 | 145.0 | 1.50 | -61.54 | 154.24 | 0.17 | -15.0 | -5.56 | 13.98 | -49.95 | 93.36 | 32.23 | -0.62 | -19.38 | 125.15 | 96.53 | -0.45 | -25.15 | -169.24 | 2.2 | 20.96 | 31.66 | 5.65 |
| 22Q3 (12) | 2.82 | 83.12 | 176.47 | 26.43 | 26.4 | 35.89 | 16.31 | 70.25 | 66.77 | 25.63 | 65.78 | 130.69 | 19.68 | 67.49 | 150.7 | 5.28 | 75.42 | 153.85 | 3.90 | 79.72 | 158.28 | 0.20 | 11.11 | 5.26 | 27.93 | 55.43 | 104.77 | 32.43 | -17.82 | -18.64 | 63.68 | 2.57 | -27.89 | 36.32 | -4.21 | 210.55 | 15.92 | -18.15 | -16.95 |
| 22Q2 (11) | 1.54 | 58.76 | 85.54 | 20.91 | 21.01 | 5.5 | 9.58 | 38.04 | 12.44 | 15.46 | 41.7 | 41.97 | 11.75 | 47.61 | 62.29 | 3.01 | 57.59 | 76.02 | 2.17 | 57.25 | 75.0 | 0.18 | 5.88 | 5.88 | 17.97 | 32.23 | 32.04 | 39.46 | -1.08 | -2.16 | 62.08 | -2.53 | -20.64 | 37.92 | 4.44 | 74.18 | 19.45 | -1.67 | -4.47 |
| 22Q1 (10) | 0.97 | 142.5 | 44.78 | 17.28 | -1.76 | -13.34 | 6.94 | 18.84 | -8.68 | 10.91 | 136.15 | 15.94 | 7.96 | 153.5 | 18.81 | 1.91 | 138.75 | 40.44 | 1.38 | 133.9 | 35.29 | 0.17 | -5.56 | 13.33 | 13.59 | 87.97 | 7.86 | 39.89 | -0.23 | 6.71 | 63.69 | -49.33 | -21.44 | 36.31 | 241.19 | 91.9 | 19.78 | -0.3 | -6.57 |
| 21Q4 (9) | 0.40 | -60.78 | -11.11 | 17.59 | -9.56 | -20.55 | 5.84 | -40.29 | -33.71 | 4.62 | -58.42 | -16.91 | 3.14 | -60.0 | -25.77 | 0.80 | -61.54 | -11.11 | 0.59 | -60.93 | -15.71 | 0.18 | -5.26 | 12.5 | 7.23 | -46.99 | -15.44 | 39.98 | 0.3 | 24.12 | 125.71 | 42.37 | -20.0 | -25.71 | -319.86 | 56.1 | 19.84 | 3.5 | -7.2 |
| 21Q3 (8) | 1.02 | 22.89 | -36.65 | 19.45 | -1.87 | -28.68 | 9.78 | 14.79 | -40.29 | 11.11 | 2.02 | -39.26 | 7.85 | 8.43 | -41.68 | 2.08 | 21.64 | -38.1 | 1.51 | 21.77 | -40.78 | 0.19 | 11.76 | 0.0 | 13.64 | 0.22 | -34.74 | 39.86 | -1.17 | 37.97 | 88.30 | 12.88 | -1.42 | 11.70 | -46.27 | 12.19 | 19.17 | -5.84 | -0.47 |
| 21Q2 (7) | 0.83 | 23.88 | -4.6 | 19.82 | -0.6 | -22.91 | 8.52 | 12.11 | -31.23 | 10.89 | 15.73 | -10.07 | 7.24 | 8.06 | -22.65 | 1.71 | 25.74 | -7.57 | 1.24 | 21.57 | -9.49 | 0.17 | 13.33 | 13.33 | 13.61 | 8.02 | -12.76 | 40.33 | 7.89 | 11.5 | 78.23 | -3.51 | -23.49 | 21.77 | 15.06 | 1065.08 | 20.36 | -3.83 | 0 |
| 21Q1 (6) | 0.67 | 48.89 | 1.52 | 19.94 | -9.94 | -3.06 | 7.60 | -13.73 | 5.56 | 9.41 | 69.24 | -17.09 | 6.70 | 58.39 | -22.9 | 1.36 | 51.11 | -0.73 | 1.02 | 45.71 | -1.92 | 0.15 | -6.25 | 25.0 | 12.60 | 47.37 | -20.3 | 37.38 | 16.05 | 6.5 | 81.08 | -48.4 | 27.23 | 18.92 | 132.3 | -47.85 | 21.17 | -0.98 | 0.52 |
| 20Q4 (5) | 0.45 | -72.05 | -39.19 | 22.14 | -18.81 | -13.31 | 8.81 | -46.21 | -38.13 | 5.56 | -69.6 | -54.01 | 4.23 | -68.57 | -50.0 | 0.90 | -73.21 | -40.4 | 0.70 | -72.55 | -38.05 | 0.16 | -15.79 | 23.08 | 8.55 | -59.09 | -46.7 | 32.21 | 11.49 | -1.07 | 157.14 | 75.43 | 33.62 | -58.57 | -661.85 | -232.79 | 21.38 | 11.01 | -0.56 |
| 20Q3 (4) | 1.61 | 85.06 | 0.0 | 27.27 | 6.07 | 0.0 | 16.38 | 32.2 | 0.0 | 18.29 | 51.03 | 0.0 | 13.46 | 43.8 | 0.0 | 3.36 | 81.62 | 0.0 | 2.55 | 86.13 | 0.0 | 0.19 | 26.67 | 0.0 | 20.90 | 33.97 | 0.0 | 28.89 | -20.13 | 0.0 | 89.58 | -12.4 | 0.0 | 10.42 | 562.16 | 0.0 | 19.26 | 0 | 0.0 |
| 20Q2 (3) | 0.87 | 31.82 | 0.0 | 25.71 | 24.99 | 0.0 | 12.39 | 72.08 | 0.0 | 12.11 | 6.7 | 0.0 | 9.36 | 7.71 | 0.0 | 1.85 | 35.04 | 0.0 | 1.37 | 31.73 | 0.0 | 0.15 | 25.0 | 0.0 | 15.60 | -1.33 | 0.0 | 36.17 | 3.05 | 0.0 | 102.26 | 60.46 | 0.0 | -2.26 | -106.22 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.66 | -10.81 | 0.0 | 20.57 | -19.46 | 0.0 | 7.20 | -49.44 | 0.0 | 11.35 | -6.12 | 0.0 | 8.69 | 2.72 | 0.0 | 1.37 | -9.27 | 0.0 | 1.04 | -7.96 | 0.0 | 0.12 | -7.69 | 0.0 | 15.81 | -1.43 | 0.0 | 35.10 | 7.8 | 0.0 | 63.73 | -45.81 | 0.0 | 36.27 | 306.11 | 0.0 | 21.06 | -2.05 | 0.0 |
| 19Q4 (1) | 0.74 | 0.0 | 0.0 | 25.54 | 0.0 | 0.0 | 14.24 | 0.0 | 0.0 | 12.09 | 0.0 | 0.0 | 8.46 | 0.0 | 0.0 | 1.51 | 0.0 | 0.0 | 1.13 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 16.04 | 0.0 | 0.0 | 32.56 | 0.0 | 0.0 | 117.60 | 0.0 | 0.0 | -17.60 | 0.0 | 0.0 | 21.50 | 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) | 4.29 | -33.18 | 23.88 | 4.42 | 11.50 | -3.52 | 2.76 | 15.58 | 12.97 | -19.99 | 9.52 | -22.79 | 7.73 | -36.17 | 6.01 | -33.07 | 0.63 | -12.5 | 15.84 | -15.52 | 26.17 | -18.8 | 88.71 | 20.62 | 11.43 | -56.78 | 0.05 | -15.5 | 19.18 | 1.43 |
| 2022 (9) | 6.42 | 119.86 | 22.87 | 19.49 | 11.92 | 49.94 | 2.39 | -8.12 | 16.21 | 81.32 | 12.33 | 99.19 | 12.11 | 108.43 | 8.98 | 107.39 | 0.72 | 4.35 | 18.75 | 60.26 | 32.23 | -19.38 | 73.55 | -17.34 | 26.45 | 135.71 | 0.06 | -20.4 | 18.91 | -5.73 |
| 2021 (8) | 2.92 | -18.66 | 19.14 | -21.04 | 7.95 | -31.7 | 2.60 | -14.74 | 8.94 | -25.99 | 6.19 | -31.98 | 5.81 | -19.42 | 4.33 | -20.99 | 0.69 | 15.0 | 11.70 | -23.28 | 39.98 | 24.12 | 88.98 | -7.74 | 11.22 | 200.87 | 0.07 | -37.21 | 20.06 | -4.2 |
| 2020 (7) | 3.59 | -18.41 | 24.24 | -5.2 | 11.64 | -7.84 | 3.05 | 0.76 | 12.08 | -17.77 | 9.10 | -16.74 | 7.21 | -20.68 | 5.48 | -17.84 | 0.60 | -1.64 | 15.25 | -15.65 | 32.21 | -1.07 | 96.45 | 12.16 | 3.73 | -73.37 | 0.11 | 26.77 | 20.94 | -2.24 |
| 2019 (6) | 4.40 | -26.54 | 25.57 | -7.05 | 12.63 | -9.14 | 3.02 | 20.11 | 14.69 | -13.49 | 10.93 | -14.88 | 9.09 | -26.58 | 6.67 | -22.8 | 0.61 | -7.58 | 18.08 | -9.55 | 32.56 | -22.01 | 85.99 | 5.17 | 14.01 | -22.72 | 0.09 | -16.39 | 21.42 | 0.09 |
| 2018 (5) | 5.99 | 34.3 | 27.51 | -9.3 | 13.90 | -13.66 | 2.52 | -7.7 | 16.98 | 23.94 | 12.84 | 21.02 | 12.38 | 31.28 | 8.64 | 25.4 | 0.66 | 3.13 | 19.99 | 18.42 | 41.75 | -13.81 | 81.77 | -30.45 | 18.12 | 0 | 0.11 | 0 | 21.40 | -1.06 |
| 2017 (4) | 4.46 | -24.92 | 30.33 | -6.07 | 16.10 | -5.52 | 2.73 | -15.6 | 13.70 | -25.18 | 10.61 | -25.7 | 9.43 | -24.44 | 6.89 | -29.55 | 0.64 | -5.88 | 16.88 | -22.89 | 48.44 | 73.12 | 117.57 | 26.41 | -17.57 | 0 | 0.00 | 0 | 21.63 | 9.3 |
| 2016 (3) | 5.94 | -6.01 | 32.29 | 22.87 | 17.04 | 44.53 | 3.23 | 28.79 | 18.31 | 4.15 | 14.28 | 6.17 | 12.48 | -7.76 | 9.78 | -6.5 | 0.68 | -12.82 | 21.89 | 7.09 | 27.98 | 0.0 | 93.01 | 38.71 | 6.99 | -78.78 | 0.00 | 0 | 19.79 | -1.0 |
| 2015 (2) | 6.32 | 56.82 | 26.28 | 18.75 | 11.79 | 39.2 | 2.51 | 26.81 | 17.58 | 58.09 | 13.45 | 58.42 | 13.53 | 48.68 | 10.46 | 46.7 | 0.78 | -7.14 | 20.44 | 51.52 | 27.98 | -11.76 | 67.05 | -11.98 | 32.95 | 38.29 | 0.00 | 0 | 19.99 | 2.25 |
| 2014 (1) | 4.03 | -5.18 | 22.13 | 0 | 8.47 | 0 | 1.98 | -8.42 | 11.12 | 0 | 8.49 | 0 | 9.10 | 0 | 7.13 | 0 | 0.84 | -4.55 | 13.49 | -3.92 | 31.71 | 31.2 | 76.17 | -7.27 | 23.83 | 33.42 | 0.00 | 0 | 19.55 | 5.96 |
