- 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) | 1.71 | -3.39 | 44.92 | 36.94 | -0.57 | 7.07 | 16.68 | -2.57 | 25.79 | 18.44 | -6.3 | 20.76 | 14.92 | -3.24 | 24.02 | 2.64 | -4.69 | 35.38 | 2.03 | -3.79 | 40.97 | 0.13 | 0.0 | 8.33 | 31.11 | -2.9 | 11.51 | 30.21 | -15.14 | -18.9 | 90.76 | 3.84 | 4.43 | 9.24 | -30.94 | -29.41 | 33.11 | 3.44 | -5.48 |
| 24Q2 (19) | 1.77 | 20.41 | 7.27 | 37.15 | 6.97 | -6.47 | 17.12 | 11.46 | -12.92 | 19.68 | 11.95 | -11.03 | 15.42 | 13.97 | -3.87 | 2.77 | 19.91 | 1.84 | 2.11 | 19.21 | 6.03 | 0.13 | 0.0 | 8.33 | 32.04 | 3.42 | -2.2 | 35.60 | 9.5 | -16.59 | 87.40 | -0.51 | -1.86 | 13.39 | 2.31 | 22.38 | 32.01 | -4.13 | -6.21 |
| 24Q1 (18) | 1.47 | 12.21 | 2.08 | 34.73 | -3.71 | -11.43 | 15.36 | 0.72 | -15.09 | 17.58 | 10.57 | -7.23 | 13.53 | 6.79 | -3.77 | 2.31 | 8.96 | -1.28 | 1.77 | 10.62 | 2.31 | 0.13 | 8.33 | 8.33 | 30.98 | 4.84 | 4.17 | 32.51 | -8.96 | -12.63 | 87.85 | -8.2 | -7.93 | 13.08 | 204.21 | 185.23 | 33.39 | -5.89 | -3.13 |
| 23Q4 (17) | 1.31 | 11.02 | -4.38 | 36.07 | 4.55 | -6.84 | 15.25 | 15.01 | -21.83 | 15.90 | 4.13 | -14.29 | 12.67 | 5.32 | -0.47 | 2.12 | 8.72 | -7.42 | 1.60 | 11.11 | -4.19 | 0.12 | 0.0 | -7.69 | 29.55 | 5.91 | 4.01 | 35.71 | -4.13 | -12.28 | 95.70 | 10.12 | -9.13 | 4.30 | -67.16 | 181.0 | 35.48 | 1.28 | 5.31 |
| 23Q3 (16) | 1.18 | -28.48 | -28.92 | 34.50 | -13.14 | -0.29 | 13.26 | -32.55 | -12.53 | 15.27 | -30.97 | -20.96 | 12.03 | -25.0 | -21.88 | 1.95 | -28.31 | -31.34 | 1.44 | -27.64 | -29.41 | 0.12 | 0.0 | -7.69 | 27.90 | -14.84 | -4.06 | 37.25 | -12.72 | -9.01 | 86.90 | -2.42 | 10.27 | 13.10 | 19.73 | -38.19 | 35.03 | 2.64 | 5.51 |
| 23Q2 (15) | 1.65 | 14.58 | -5.71 | 39.72 | 1.3 | 5.92 | 19.66 | 8.68 | -9.32 | 22.12 | 16.73 | -0.05 | 16.04 | 14.08 | -3.72 | 2.72 | 16.24 | -8.72 | 1.99 | 15.03 | -8.29 | 0.12 | 0.0 | -7.69 | 32.76 | 10.15 | 2.41 | 42.68 | 14.7 | 1.16 | 89.06 | -6.66 | -8.87 | 10.94 | 138.44 | 381.25 | 34.13 | -0.99 | 0.62 |
| 23Q1 (14) | 1.44 | 5.11 | -11.11 | 39.21 | 1.27 | 3.65 | 18.09 | -7.28 | -0.77 | 18.95 | 2.16 | -2.57 | 14.06 | 10.45 | -12.07 | 2.34 | 2.18 | -15.52 | 1.73 | 3.59 | -15.61 | 0.12 | -7.69 | -7.69 | 29.74 | 4.68 | 2.59 | 37.21 | -8.6 | 1.14 | 95.41 | -9.4 | 1.77 | 4.59 | 186.39 | -26.61 | 34.47 | 2.32 | -0.49 |
| 22Q4 (13) | 1.37 | -17.47 | 9.6 | 38.72 | 11.91 | 10.38 | 19.51 | 28.69 | -2.01 | 18.55 | -3.99 | 14.86 | 12.73 | -17.34 | -0.86 | 2.29 | -19.37 | 2.69 | 1.67 | -18.14 | 0.6 | 0.13 | 0.0 | 0.0 | 28.41 | -2.3 | 13.23 | 40.71 | -0.56 | 9.97 | 105.31 | 33.62 | -14.79 | -5.31 | -125.06 | 77.5 | 33.69 | 1.48 | -11.6 |
| 22Q3 (12) | 1.66 | -5.14 | -31.97 | 34.60 | -7.73 | -0.63 | 15.16 | -30.07 | -1.88 | 19.32 | -12.7 | -38.86 | 15.40 | -7.56 | -40.93 | 2.84 | -4.7 | -35.75 | 2.04 | -5.99 | -37.8 | 0.13 | 0.0 | 8.33 | 29.08 | -9.1 | -28.25 | 40.94 | -2.96 | 12.72 | 78.81 | -19.35 | 61.47 | 21.19 | 832.2 | -58.61 | 33.20 | -2.12 | -6.19 |
| 22Q2 (11) | 1.75 | 8.02 | -13.79 | 37.50 | -0.87 | -5.94 | 21.68 | 18.92 | -17.66 | 22.13 | 13.78 | -13.69 | 16.66 | 4.19 | -24.92 | 2.98 | 7.58 | -20.11 | 2.17 | 5.85 | -21.94 | 0.13 | 0.0 | 8.33 | 31.99 | 10.35 | -8.26 | 42.19 | 14.68 | 18.31 | 97.73 | 4.24 | -5.13 | 2.27 | -63.64 | 175.57 | 33.92 | -2.08 | -8.37 |
| 22Q1 (10) | 1.62 | 29.6 | 12.5 | 37.83 | 7.84 | 13.64 | 18.23 | -8.44 | 10.55 | 19.45 | 20.43 | 1.09 | 15.99 | 24.53 | 3.76 | 2.77 | 24.22 | 1.47 | 2.05 | 23.49 | 0.99 | 0.13 | 0.0 | 0.0 | 28.99 | 15.54 | 1.93 | 36.79 | -0.62 | 3.72 | 93.75 | -24.15 | 8.66 | 6.25 | 126.49 | -57.5 | 34.64 | -9.11 | 2.12 |
| 21Q4 (9) | 1.25 | -48.77 | -8.76 | 35.08 | 0.75 | -6.5 | 19.91 | 28.87 | 14.1 | 16.15 | -48.89 | -7.08 | 12.84 | -50.75 | -8.15 | 2.23 | -49.55 | -17.1 | 1.66 | -49.39 | -15.74 | 0.13 | 8.33 | -7.14 | 25.09 | -38.1 | -4.75 | 37.02 | 1.93 | -5.78 | 123.60 | 153.22 | 23.6 | -23.60 | -146.09 | 0 | 38.11 | 7.69 | 16.3 |
| 21Q3 (8) | 2.44 | 20.2 | 159.57 | 34.82 | -12.67 | -12.09 | 15.45 | -41.32 | 2.52 | 31.60 | 23.24 | 106.94 | 26.07 | 17.49 | 172.7 | 4.42 | 18.5 | 133.86 | 3.28 | 17.99 | 135.97 | 0.12 | 0.0 | -14.29 | 40.53 | 16.23 | 50.78 | 36.32 | 1.85 | -7.28 | 48.81 | -52.62 | -50.61 | 51.19 | 1802.08 | 4251.19 | 35.39 | -4.4 | 12.67 |
| 21Q2 (7) | 2.03 | 40.97 | 93.33 | 39.87 | 19.77 | 12.15 | 26.33 | 59.67 | 63.64 | 25.64 | 33.26 | 59.55 | 22.19 | 44.0 | 78.38 | 3.73 | 36.63 | 75.12 | 2.78 | 36.95 | 79.35 | 0.12 | -7.69 | 0.0 | 34.87 | 22.61 | 36.1 | 35.66 | 0.54 | -18.06 | 103.01 | 19.4 | 3.01 | -3.01 | -120.45 | 0 | 37.02 | 9.14 | 0 |
| 21Q1 (6) | 1.44 | 5.11 | 34.58 | 33.29 | -11.27 | -8.64 | 16.49 | -5.5 | 2.23 | 19.24 | 10.7 | 16.04 | 15.41 | 10.23 | 18.36 | 2.73 | 1.49 | 25.81 | 2.03 | 3.05 | 27.67 | 0.13 | -7.14 | 8.33 | 28.44 | 7.97 | 5.65 | 35.47 | -9.72 | -13.59 | 86.27 | -13.73 | -11.46 | 14.71 | 0 | 473.53 | 33.92 | 3.51 | -0.06 |
| 20Q4 (5) | 1.37 | 45.74 | 16.1 | 37.52 | -5.28 | -14.65 | 17.45 | 15.79 | -1.97 | 17.38 | 13.82 | 19.7 | 13.98 | 46.23 | 16.79 | 2.69 | 42.33 | 10.25 | 1.97 | 41.73 | 11.3 | 0.14 | 0.0 | 0.0 | 26.34 | -2.01 | 13.88 | 39.29 | 0.31 | -9.3 | 100.00 | 1.19 | -18.0 | 0.00 | -100.0 | 100.0 | 32.77 | 4.33 | 2.53 |
| 20Q3 (4) | 0.94 | -10.48 | 0.0 | 39.61 | 11.42 | 0.0 | 15.07 | -6.34 | 0.0 | 15.27 | -4.98 | 0.0 | 9.56 | -23.15 | 0.0 | 1.89 | -11.27 | 0.0 | 1.39 | -10.32 | 0.0 | 0.14 | 16.67 | 0.0 | 26.88 | 4.92 | 0.0 | 39.17 | -10.0 | 0.0 | 98.82 | -1.18 | 0.0 | 1.18 | 0 | 0.0 | 31.41 | 0 | 0.0 |
| 20Q2 (3) | 1.05 | -1.87 | 0.0 | 35.55 | -2.44 | 0.0 | 16.09 | -0.25 | 0.0 | 16.07 | -3.08 | 0.0 | 12.44 | -4.45 | 0.0 | 2.13 | -1.84 | 0.0 | 1.55 | -2.52 | 0.0 | 0.12 | 0.0 | 0.0 | 25.62 | -4.83 | 0.0 | 43.52 | 6.02 | 0.0 | 100.00 | 2.63 | 0.0 | -0.00 | -100.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 1.07 | -9.32 | 0.0 | 36.44 | -17.11 | 0.0 | 16.13 | -9.38 | 0.0 | 16.58 | 14.19 | 0.0 | 13.02 | 8.77 | 0.0 | 2.17 | -11.07 | 0.0 | 1.59 | -10.17 | 0.0 | 0.12 | -14.29 | 0.0 | 26.92 | 16.39 | 0.0 | 41.05 | -5.24 | 0.0 | 97.44 | -20.1 | 0.0 | 2.56 | 111.68 | 0.0 | 33.94 | 6.2 | 0.0 |
| 19Q4 (1) | 1.18 | 0.0 | 0.0 | 43.96 | 0.0 | 0.0 | 17.80 | 0.0 | 0.0 | 14.52 | 0.0 | 0.0 | 11.97 | 0.0 | 0.0 | 2.44 | 0.0 | 0.0 | 1.77 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 23.13 | 0.0 | 0.0 | 43.32 | 0.0 | 0.0 | 121.95 | 0.0 | 0.0 | -21.95 | 0.0 | 0.0 | 31.96 | 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) | 5.58 | -12.81 | 37.40 | 0.67 | 16.60 | -10.9 | 10.00 | 22.77 | 18.09 | -8.91 | 13.72 | -9.62 | 9.09 | -16.83 | 6.78 | -15.36 | 0.48 | -7.69 | 29.97 | 1.01 | 35.71 | -12.28 | 91.79 | -2.24 | 8.21 | 34.52 | 0.00 | 0 | 34.78 | 2.75 |
| 2022 (9) | 6.40 | -10.61 | 37.15 | 3.95 | 18.63 | -4.51 | 8.15 | 5.54 | 19.86 | -13.95 | 15.18 | -20.31 | 10.93 | -16.95 | 8.01 | -16.99 | 0.52 | 4.0 | 29.67 | -7.83 | 40.71 | 9.97 | 93.89 | 11.01 | 6.11 | -60.4 | 0.00 | 0 | 33.85 | -6.31 |
| 2021 (8) | 7.16 | 61.26 | 35.74 | -4.39 | 19.51 | 20.51 | 7.72 | -6.8 | 23.08 | 41.33 | 19.05 | 56.02 | 13.16 | 49.72 | 9.65 | 50.31 | 0.50 | -1.96 | 32.19 | 21.7 | 37.02 | -5.78 | 84.58 | -14.66 | 15.42 | 1631.71 | 0.00 | 0 | 36.13 | 9.95 |
| 2020 (7) | 4.44 | 18.72 | 37.38 | 11.88 | 16.19 | 16.81 | 8.28 | -1.5 | 16.33 | 28.58 | 12.21 | 23.46 | 8.79 | 13.57 | 6.42 | 11.27 | 0.51 | -7.27 | 26.45 | 21.11 | 39.29 | -9.3 | 99.11 | -9.2 | 0.89 | 0 | 0.00 | 0 | 32.86 | 11.43 |
| 2019 (6) | 3.74 | 19.87 | 33.41 | 11.55 | 13.86 | 30.26 | 8.41 | -12.16 | 12.70 | 5.66 | 9.89 | 3.89 | 7.74 | 16.57 | 5.77 | 17.04 | 0.55 | 10.0 | 21.84 | -1.71 | 43.32 | 10.43 | 109.16 | 23.49 | -9.16 | 0 | 0.00 | 0 | 29.49 | -8.76 |
| 2018 (5) | 3.12 | 30.54 | 29.95 | 2.81 | 10.64 | -4.23 | 9.58 | -9.04 | 12.02 | 9.47 | 9.52 | 6.13 | 6.64 | 26.24 | 4.93 | 23.87 | 0.50 | 19.05 | 22.22 | -0.36 | 39.23 | 0.33 | 88.39 | -12.65 | 11.61 | 0 | 0.00 | 0 | 32.32 | -0.52 |
| 2017 (4) | 2.39 | 43.11 | 29.13 | 6.35 | 11.11 | 25.4 | 10.53 | -5.68 | 10.98 | 7.54 | 8.97 | 26.69 | 5.26 | 44.51 | 3.98 | 35.37 | 0.42 | 7.69 | 22.30 | 0.59 | 39.10 | 1.53 | 101.20 | 16.5 | -1.20 | 0 | 0.00 | 0 | 32.49 | -1.52 |
| 2016 (3) | 1.67 | -47.15 | 27.39 | -16.7 | 8.86 | -41.13 | 11.16 | -3.3 | 10.21 | -40.12 | 7.08 | -46.81 | 3.64 | -46.23 | 2.94 | -47.5 | 0.39 | -4.88 | 22.17 | -24.69 | 38.51 | 56.16 | 86.86 | -1.75 | 13.14 | 13.38 | 0.00 | 0 | 32.99 | 5.13 |
| 2015 (2) | 3.16 | -35.64 | 32.88 | -11.45 | 15.05 | -30.03 | 11.54 | 50.13 | 17.05 | -26.09 | 13.31 | -28.75 | 6.77 | -37.95 | 5.60 | -37.15 | 0.41 | -12.77 | 29.44 | -5.85 | 24.66 | 4.49 | 88.41 | -5.16 | 11.59 | 70.92 | 0.00 | 0 | 31.38 | 13.04 |
| 2014 (1) | 4.91 | 6.74 | 37.13 | 0 | 21.51 | 0 | 7.69 | 9.1 | 23.07 | 0 | 18.68 | 0 | 10.91 | 0 | 8.91 | 0 | 0.47 | 2.17 | 31.27 | 1.23 | 23.60 | -6.57 | 93.22 | -3.24 | 6.78 | 71.06 | 0.00 | 0 | 27.76 | -1.25 |
