- 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) | 22.46 | 12.02 | 86.7 | 19.46 | 2.64 | -17.89 | 12.69 | 4.44 | -4.15 | 15.15 | 3.7 | 1.61 | 12.08 | 3.25 | 3.87 | 5.16 | 9.55 | -8.19 | 3.58 | 16.23 | -1.65 | 0.30 | 15.38 | -3.23 | 20.17 | 8.32 | -3.77 | 36.04 | -31.9 | -34.28 | 83.75 | 0.7 | -5.7 | 16.25 | -3.47 | 45.24 | 4.23 | -10.38 | -42.76 |
| 24Q2 (19) | 20.05 | 26.66 | 97.34 | 18.96 | 0.9 | -11.15 | 12.15 | 5.19 | 10.66 | 14.61 | 0.0 | 25.73 | 11.70 | 0.09 | 26.35 | 4.71 | -1.46 | -11.3 | 3.08 | 4.76 | -14.44 | 0.26 | 4.0 | -33.33 | 18.62 | 0.59 | 11.63 | 52.92 | -0.43 | -2.7 | 83.17 | 5.19 | -11.97 | 16.83 | -19.6 | 204.34 | 4.72 | -16.01 | -15.41 |
| 24Q1 (18) | 15.83 | 3.4 | 95.67 | 18.79 | -17.44 | -10.4 | 11.55 | -14.51 | 3.77 | 14.61 | -4.51 | 14.59 | 11.69 | -3.71 | 14.95 | 4.78 | -24.01 | 9.89 | 2.94 | -21.81 | -1.34 | 0.25 | -19.35 | -13.79 | 18.51 | -25.36 | 3.76 | 53.15 | -33.55 | 29.1 | 79.06 | -10.48 | -9.38 | 20.94 | 78.11 | 64.14 | 5.62 | -9.65 | -23.85 |
| 23Q4 (17) | 15.31 | 27.27 | 112.64 | 22.76 | -3.97 | -17.24 | 13.51 | 2.04 | -1.24 | 15.30 | 2.62 | 2.82 | 12.14 | 4.39 | 8.39 | 6.29 | 11.92 | 57.64 | 3.76 | 3.3 | 44.06 | 0.31 | 0.0 | 34.78 | 24.80 | 18.32 | -4.65 | 79.98 | 45.84 | 54.37 | 88.31 | -0.56 | -3.94 | 11.76 | 5.07 | 45.78 | 6.22 | -15.83 | -30.97 |
| 23Q3 (16) | 12.03 | 18.41 | 94.03 | 23.70 | 11.06 | -25.59 | 13.24 | 20.58 | -17.15 | 14.91 | 28.31 | -10.29 | 11.63 | 25.59 | -6.89 | 5.62 | 5.84 | 52.72 | 3.64 | 1.11 | 47.97 | 0.31 | -20.51 | 55.0 | 20.96 | 25.66 | -33.84 | 54.84 | 0.83 | 2.07 | 88.81 | -5.99 | -7.59 | 11.19 | 102.29 | 187.03 | 7.39 | 32.44 | -44.56 |
| 23Q2 (15) | 10.16 | 25.59 | 69.05 | 21.34 | 1.76 | -38.32 | 10.98 | -1.35 | -42.63 | 11.62 | -8.86 | -36.43 | 9.26 | -8.95 | -35.65 | 5.31 | 22.07 | 40.48 | 3.60 | 20.81 | 31.87 | 0.39 | 34.48 | 105.26 | 16.68 | -6.5 | -56.13 | 54.39 | 32.11 | 20.41 | 94.47 | 8.28 | -9.68 | 5.53 | -56.64 | 215.74 | 5.58 | -24.39 | -55.57 |
| 23Q1 (14) | 8.09 | 12.36 | 28.01 | 20.97 | -23.75 | -45.6 | 11.13 | -18.64 | -46.8 | 12.75 | -14.31 | -41.22 | 10.17 | -9.2 | -40.67 | 4.35 | 9.02 | 4.82 | 2.98 | 14.18 | -6.58 | 0.29 | 26.09 | 52.63 | 17.84 | -31.41 | -53.08 | 41.17 | -20.54 | 29.55 | 87.24 | -5.1 | -9.57 | 12.76 | 58.19 | 262.3 | 7.38 | -18.09 | -49.03 |
| 22Q4 (13) | 7.20 | 16.13 | 42.29 | 27.50 | -13.66 | -19.05 | 13.68 | -14.39 | -17.79 | 14.88 | -10.47 | -16.07 | 11.20 | -10.33 | -21.18 | 3.99 | 8.42 | 14.33 | 2.61 | 6.1 | -0.76 | 0.23 | 15.0 | 21.05 | 26.01 | -17.9 | -25.71 | 51.81 | -3.57 | 84.25 | 91.94 | -4.34 | -1.83 | 8.06 | 106.87 | 31.72 | 9.01 | -32.41 | -34.09 |
| 22Q3 (12) | 6.20 | 3.16 | 21.09 | 31.85 | -7.95 | -1.15 | 15.98 | -16.51 | -3.85 | 16.62 | -9.08 | -5.03 | 12.49 | -13.2 | -11.23 | 3.68 | -2.65 | -1.34 | 2.46 | -9.89 | -6.11 | 0.20 | 5.26 | 5.26 | 31.68 | -16.68 | -0.81 | 53.73 | 18.95 | 41.99 | 96.10 | -8.12 | 1.3 | 3.90 | 181.56 | -20.62 | 13.33 | 6.13 | 0.3 |
| 22Q2 (11) | 6.01 | -4.91 | 8.48 | 34.60 | -10.25 | 1.76 | 19.14 | -8.51 | 6.87 | 18.28 | -15.72 | -1.35 | 14.39 | -16.04 | 0.84 | 3.78 | -8.92 | -6.2 | 2.73 | -14.42 | 0.74 | 0.19 | 0.0 | 0.0 | 38.02 | 0.0 | 34.06 | 45.17 | 42.13 | -5.88 | 104.60 | 8.41 | 8.24 | -4.78 | -235.74 | -241.98 | 12.56 | -13.26 | 1.78 |
| 22Q1 (10) | 6.32 | 24.9 | 11.27 | 38.55 | 13.48 | 5.99 | 20.92 | 25.72 | 11.04 | 21.69 | 22.34 | 13.62 | 17.14 | 20.62 | 17.56 | 4.15 | 18.91 | -26.42 | 3.19 | 21.29 | -1.85 | 0.19 | 0.0 | -13.64 | 38.02 | 8.6 | 3.57 | 31.78 | 13.02 | -36.89 | 96.48 | 3.02 | -2.17 | 3.52 | -42.49 | 155.53 | 14.48 | 5.93 | 6.63 |
| 21Q4 (9) | 5.06 | -1.17 | 31.09 | 33.97 | 5.43 | 8.5 | 16.64 | 0.12 | 33.65 | 17.73 | 1.31 | 12.71 | 14.21 | 1.0 | 15.15 | 3.49 | -6.43 | -44.07 | 2.63 | 0.38 | -2.23 | 0.19 | 0.0 | -13.64 | 35.01 | 9.61 | 13.74 | 28.12 | -25.69 | -79.07 | 93.65 | -1.28 | 17.95 | 6.12 | 24.68 | -70.75 | 13.67 | 2.86 | 10.51 |
| 21Q3 (8) | 5.12 | -7.58 | 35.81 | 32.22 | -5.24 | 2.29 | 16.62 | -7.2 | 19.31 | 17.50 | -5.56 | 15.74 | 14.07 | -1.4 | 21.08 | 3.73 | -7.44 | -42.44 | 2.62 | -3.32 | -9.97 | 0.19 | 0.0 | -24.0 | 31.94 | 12.62 | 7.51 | 37.84 | -21.15 | -71.15 | 94.87 | -1.83 | 3.06 | 4.91 | 45.88 | -38.21 | 13.29 | 7.7 | 4.15 |
| 21Q2 (7) | 5.54 | -2.46 | 76.43 | 34.00 | -6.52 | -2.52 | 17.91 | -4.94 | 13.28 | 18.53 | -2.93 | 19.7 | 14.27 | -2.13 | 22.28 | 4.03 | -28.55 | -26.86 | 2.71 | -16.62 | -6.87 | 0.19 | -13.64 | -24.0 | 28.36 | -22.75 | -3.14 | 47.99 | -4.71 | -58.54 | 96.63 | -2.02 | -5.6 | 3.37 | 144.3 | 271.01 | 12.34 | -9.13 | 0 |
| 21Q1 (6) | 5.68 | 47.15 | 97.91 | 36.37 | 16.16 | 9.61 | 18.84 | 51.33 | 36.32 | 19.09 | 21.36 | 27.44 | 14.58 | 18.15 | 27.11 | 5.64 | -9.62 | 9.94 | 3.25 | 20.82 | 1.88 | 0.22 | 0.0 | -21.43 | 36.71 | 19.27 | 7.72 | 50.36 | -62.52 | -22.86 | 98.62 | 24.21 | 7.08 | 1.38 | -93.42 | -82.55 | 13.58 | 9.78 | -4.84 |
| 20Q4 (5) | 3.86 | 2.39 | 64.26 | 31.31 | -0.6 | -3.87 | 12.45 | -10.62 | 26.01 | 15.73 | 4.03 | 31.96 | 12.34 | 6.2 | 25.53 | 6.24 | -3.7 | 44.11 | 2.69 | -7.56 | -6.27 | 0.22 | -12.0 | -24.14 | 30.78 | 3.6 | -18.23 | 134.37 | 2.46 | 130.68 | 79.40 | -13.74 | -3.82 | 20.93 | 163.37 | 24.14 | 12.37 | -3.06 | 0 |
| 20Q3 (4) | 3.77 | 20.06 | 0.0 | 31.50 | -9.69 | 0.0 | 13.93 | -11.89 | 0.0 | 15.12 | -2.33 | 0.0 | 11.62 | -0.43 | 0.0 | 6.48 | 17.6 | 0.0 | 2.91 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 29.71 | 1.47 | 0.0 | 131.14 | 13.29 | 0.0 | 92.05 | -10.07 | 0.0 | 7.95 | 503.71 | 0.0 | 12.76 | 0 | 0.0 |
| 20Q2 (3) | 3.14 | 9.41 | 0.0 | 34.88 | 5.12 | 0.0 | 15.81 | 14.4 | 0.0 | 15.48 | 3.34 | 0.0 | 11.67 | 1.74 | 0.0 | 5.51 | 7.41 | 0.0 | 2.91 | -8.78 | 0.0 | 0.25 | -10.71 | 0.0 | 29.28 | -14.08 | 0.0 | 115.76 | 77.33 | 0.0 | 102.36 | 11.14 | 0.0 | -1.97 | -124.93 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 2.87 | 22.13 | 0.0 | 33.18 | 1.87 | 0.0 | 13.82 | 39.88 | 0.0 | 14.98 | 25.67 | 0.0 | 11.47 | 16.68 | 0.0 | 5.13 | 18.48 | 0.0 | 3.19 | 11.15 | 0.0 | 0.28 | -3.45 | 0.0 | 34.08 | -9.46 | 0.0 | 65.28 | 12.07 | 0.0 | 92.11 | 11.56 | 0.0 | 7.89 | -53.18 | 0.0 | 14.27 | 0 | 0.0 |
| 19Q4 (1) | 2.35 | 0.0 | 0.0 | 32.57 | 0.0 | 0.0 | 9.88 | 0.0 | 0.0 | 11.92 | 0.0 | 0.0 | 9.83 | 0.0 | 0.0 | 4.33 | 0.0 | 0.0 | 2.87 | 0.0 | 0.0 | 0.29 | 0.0 | 0.0 | 37.64 | 0.0 | 0.0 | 58.25 | 0.0 | 0.0 | 82.56 | 0.0 | 0.0 | 16.86 | 0.0 | 0.0 | 0.00 | 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) | 45.47 | 76.99 | 22.29 | -30.93 | 12.34 | -26.72 | 4.45 | -65.31 | 13.77 | -20.68 | 10.89 | -18.49 | 21.40 | 36.31 | 12.74 | 14.47 | 1.17 | 40.96 | 20.42 | -36.94 | 79.98 | 54.37 | 89.59 | -7.62 | 10.39 | 243.74 | 1.28 | 182.87 | 6.56 | -45.06 |
| 2022 (9) | 25.69 | 20.38 | 32.27 | -5.53 | 16.84 | -3.94 | 12.82 | 25.8 | 17.36 | -4.77 | 13.36 | -6.51 | 15.70 | -24.99 | 11.13 | -16.57 | 0.83 | -10.75 | 32.38 | -1.7 | 51.81 | 84.25 | 96.98 | 0.85 | 3.02 | -21.32 | 0.45 | 57.32 | 11.94 | -9.61 |
| 2021 (8) | 21.34 | 56.8 | 34.16 | 4.82 | 17.53 | 25.75 | 10.19 | -14.5 | 18.23 | 18.84 | 14.29 | 21.2 | 20.93 | -9.86 | 13.34 | 14.11 | 0.93 | -6.06 | 32.94 | 6.81 | 28.12 | -79.07 | 96.16 | 5.81 | 3.84 | -57.88 | 0.29 | -78.94 | 13.21 | -0.53 |
| 2020 (7) | 13.61 | 89.03 | 32.59 | -12.37 | 13.94 | 39.54 | 11.92 | 5.41 | 15.34 | 26.46 | 11.79 | 17.78 | 23.22 | 66.69 | 11.69 | 19.53 | 0.99 | 2.06 | 30.84 | -8.43 | 134.37 | 130.68 | 90.88 | 10.19 | 9.12 | -47.98 | 1.36 | -67.97 | 13.28 | -28.64 |
| 2019 (6) | 7.20 | 70.62 | 37.19 | -0.64 | 9.99 | 7.07 | 11.31 | -39.67 | 12.13 | 25.05 | 10.01 | 34.18 | 13.93 | 52.57 | 9.78 | 29.54 | 0.97 | -3.96 | 33.68 | 3.6 | 58.25 | 113.6 | 82.48 | -14.19 | 17.52 | 351.58 | 4.25 | 7.43 | 18.61 | -7.0 |
| 2018 (5) | 4.22 | -16.93 | 37.43 | 32.92 | 9.33 | 24.4 | 18.75 | 102.48 | 9.70 | 15.2 | 7.46 | 3.04 | 9.13 | -22.03 | 7.55 | -22.08 | 1.01 | -24.06 | 32.51 | 60.86 | 27.27 | 84.38 | 96.12 | 7.83 | 3.88 | -64.28 | 3.95 | 41.65 | 20.01 | 41.11 |
| 2017 (4) | 5.08 | 0 | 28.16 | 113.01 | 7.50 | 0 | 9.26 | -28.5 | 8.42 | 0 | 7.24 | 0 | 11.71 | 0 | 9.69 | 0 | 1.33 | 30.39 | 20.21 | 81.91 | 14.79 | -48.27 | 89.14 | -14.68 | 10.86 | 0 | 2.79 | 0 | 14.18 | 24.5 |
| 2016 (3) | -3.45 | 0 | 13.22 | -39.16 | -5.68 | 0 | 12.95 | -8.01 | -5.45 | 0 | -5.73 | 0 | -7.85 | 0 | -5.79 | 0 | 1.02 | -2.86 | 11.11 | -51.72 | 28.59 | -25.7 | 104.48 | 24.48 | -3.98 | 0 | 0.00 | 0 | 11.39 | -4.69 |
| 2015 (2) | 2.07 | -45.09 | 21.73 | 6.94 | 3.72 | -48.97 | 14.08 | 40.54 | 4.44 | -30.41 | 3.41 | -24.22 | 4.60 | -51.68 | 3.70 | -54.38 | 1.05 | -41.67 | 23.01 | 14.02 | 38.48 | 97.74 | 83.93 | -26.38 | 16.07 | 0 | 0.00 | 0 | 11.95 | 29.75 |
| 2014 (1) | 3.77 | 79.52 | 20.32 | 0 | 7.29 | 0 | 10.02 | 5.22 | 6.38 | 0 | 4.50 | 0 | 9.52 | 0 | 8.11 | 0 | 1.80 | 26.76 | 20.18 | 4.94 | 19.46 | 29.56 | 114.00 | -6.84 | -14.33 | 0 | 0.00 | 0 | 9.21 | -39.65 |
