- 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) | 10.53 | 50.43 | -10.0 | 34.26 | 14.35 | 15.01 | 21.22 | 29.15 | 19.68 | 19.64 | 11.97 | -2.68 | 15.48 | 21.79 | -1.21 | 10.62 | 18.26 | -41.33 | 5.10 | 21.43 | -26.51 | 0.33 | 0.0 | -25.0 | 21.09 | 8.82 | -1.72 | 98.31 | -24.98 | -36.97 | 108.02 | 15.13 | 22.84 | -8.02 | -224.24 | -166.41 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 7.00 | 26.58 | 28.91 | 29.96 | -5.04 | 22.14 | 16.43 | 17.61 | 27.07 | 17.54 | -4.88 | 18.35 | 12.71 | -11.3 | 16.5 | 8.98 | 23.86 | -2.92 | 4.20 | 26.89 | 12.3 | 0.33 | 43.48 | -2.94 | 19.38 | -7.71 | 16.05 | 131.05 | 25.74 | -23.43 | 93.82 | 23.59 | 7.44 | 6.45 | -73.62 | -49.1 | 13.34 | -17.35 | 20.51 |
| 24Q1 (18) | 5.53 | 72.27 | 47.47 | 31.55 | 10.59 | 5.84 | 13.97 | 23.96 | 3.64 | 18.44 | 136.41 | 45.77 | 14.33 | 190.67 | 47.88 | 7.25 | 62.19 | 10.18 | 3.31 | 79.89 | 15.33 | 0.23 | -36.11 | -20.69 | 21.00 | 125.32 | 39.72 | 104.22 | -27.88 | -20.37 | 75.91 | -47.42 | -29.0 | 24.45 | 155.09 | 483.09 | 16.14 | -4.55 | 10.1 |
| 23Q4 (17) | 3.21 | -72.56 | -36.81 | 28.53 | -4.23 | -9.37 | 11.27 | -36.44 | -29.3 | 7.80 | -61.35 | -44.92 | 4.93 | -68.54 | -52.0 | 4.47 | -75.3 | -53.53 | 1.84 | -73.49 | -52.58 | 0.36 | -18.18 | -2.7 | 9.32 | -56.57 | -42.22 | 144.51 | -7.35 | 2.74 | 144.39 | 64.21 | 28.66 | -44.39 | -467.78 | -252.49 | 16.91 | 48.33 | 21.31 |
| 23Q3 (16) | 11.70 | 115.47 | 225.91 | 29.79 | 21.44 | 14.8 | 17.73 | 37.12 | 111.58 | 20.18 | 36.17 | 67.61 | 15.67 | 43.63 | 73.15 | 18.10 | 95.68 | 143.61 | 6.94 | 85.56 | 142.66 | 0.44 | 29.41 | 41.94 | 21.46 | 28.5 | 49.44 | 155.98 | -8.86 | -5.91 | 87.93 | 0.7 | 26.4 | 12.07 | -4.79 | -60.34 | 11.40 | 2.98 | -31.61 |
| 23Q2 (15) | 5.43 | 44.8 | 98.18 | 24.53 | -17.71 | 3.07 | 12.93 | -4.08 | 35.68 | 14.82 | 17.15 | 40.47 | 10.91 | 12.59 | 38.45 | 9.25 | 40.58 | 53.15 | 3.74 | 30.31 | 43.85 | 0.34 | 17.24 | 6.25 | 16.70 | 11.11 | 29.36 | 171.15 | 30.77 | 4.95 | 87.32 | -18.32 | -3.81 | 12.68 | 298.59 | 27.67 | 11.07 | -24.49 | -17.02 |
| 23Q1 (14) | 3.75 | -26.18 | 792.86 | 29.81 | -5.3 | 30.23 | 13.48 | -15.43 | 804.7 | 12.65 | -10.66 | 239.14 | 9.69 | -5.65 | 340.45 | 6.58 | -31.6 | 592.63 | 2.87 | -26.03 | 441.51 | 0.29 | -21.62 | 31.82 | 15.03 | -6.82 | 84.87 | 130.88 | -6.95 | 19.9 | 106.91 | -4.73 | 172.15 | -6.38 | 49.31 | -110.51 | 14.66 | 5.16 | -28.49 |
| 22Q4 (13) | 5.08 | 41.5 | 257.75 | 31.48 | 21.31 | 20.84 | 15.94 | 90.21 | 117.76 | 14.16 | 17.61 | 110.09 | 10.27 | 13.48 | 57.76 | 9.62 | 29.48 | 194.19 | 3.88 | 35.66 | 115.56 | 0.37 | 19.35 | 37.04 | 16.13 | 12.33 | 55.54 | 140.65 | -15.15 | 62.85 | 112.22 | 61.32 | 3.02 | -12.59 | -141.38 | -41.04 | 13.94 | -16.38 | -23.83 |
| 22Q3 (12) | 3.59 | 31.02 | 775.61 | 25.95 | 9.03 | 35.16 | 8.38 | -12.07 | 128.96 | 12.04 | 14.12 | 238.2 | 9.05 | 14.85 | 483.87 | 7.43 | 23.01 | 682.11 | 2.86 | 10.0 | 401.75 | 0.31 | -3.13 | -8.82 | 14.36 | 11.23 | 113.06 | 165.77 | 1.65 | 94.34 | 69.57 | -23.37 | -32.31 | 30.43 | 206.52 | 1195.65 | 16.67 | 24.96 | 9.82 |
| 22Q2 (11) | 2.74 | 552.38 | 297.1 | 23.80 | 3.98 | 7.59 | 9.53 | 539.6 | 90.22 | 10.55 | 182.84 | 185.14 | 7.88 | 258.18 | 155.84 | 6.04 | 535.79 | 270.55 | 2.60 | 390.57 | 165.31 | 0.32 | 45.45 | 6.67 | 12.91 | 58.79 | 72.36 | 163.08 | 49.4 | 110.89 | 90.78 | 131.08 | -32.44 | 9.93 | -83.65 | 128.88 | 13.34 | -34.93 | -23.29 |
| 22Q1 (10) | 0.42 | -70.42 | -25.0 | 22.89 | -12.13 | 7.46 | 1.49 | -79.64 | 136.51 | 3.73 | -44.66 | -6.52 | 2.20 | -66.21 | -24.14 | 0.95 | -70.95 | -28.03 | 0.53 | -70.56 | -34.57 | 0.22 | -18.52 | -15.38 | 8.13 | -21.6 | -4.47 | 109.16 | 26.39 | 56.12 | 39.29 | -63.93 | 135.71 | 60.71 | 780.0 | -27.14 | 20.50 | 12.02 | 0.59 |
| 21Q4 (9) | 1.42 | 246.34 | 14300.0 | 26.05 | 35.68 | 7.11 | 7.32 | 100.0 | 264.18 | 6.74 | 89.33 | 1873.68 | 6.51 | 320.0 | 8237.5 | 3.27 | 244.21 | 11000.0 | 1.80 | 215.79 | 5900.0 | 0.27 | -20.59 | 17.39 | 10.37 | 53.86 | 130.44 | 86.37 | 1.25 | 7.44 | 108.93 | 5.98 | 125.14 | -8.93 | -221.43 | -101.67 | 18.30 | 20.55 | -17.57 |
| 21Q3 (8) | 0.41 | -40.58 | -14.58 | 19.20 | -13.2 | -16.78 | 3.66 | -26.95 | -31.46 | 3.56 | -3.78 | 13.02 | 1.55 | -49.68 | -35.42 | 0.95 | -41.72 | -16.67 | 0.57 | -41.84 | -18.57 | 0.34 | 13.33 | 25.93 | 6.74 | -10.01 | -4.53 | 85.30 | 10.31 | 7.44 | 102.78 | -23.51 | -39.84 | -2.78 | 91.92 | 96.08 | 15.18 | -12.71 | -15.1 |
| 21Q2 (7) | 0.69 | 23.21 | 590.0 | 22.12 | 3.85 | -6.55 | 5.01 | 695.24 | 52.74 | 3.70 | -7.27 | 203.28 | 3.08 | 6.21 | 492.31 | 1.63 | 23.48 | 579.17 | 0.98 | 20.99 | 390.0 | 0.30 | 15.38 | 11.11 | 7.49 | -11.99 | 42.4 | 77.33 | 10.6 | 3.94 | 134.38 | 706.25 | -49.61 | -34.38 | -141.25 | 79.38 | 17.39 | -14.67 | 0 |
| 21Q1 (6) | 0.56 | 5700.0 | -64.56 | 21.30 | -12.42 | -22.8 | 0.63 | -68.66 | -91.96 | 3.99 | 1150.0 | -56.49 | 2.90 | 3725.0 | -60.97 | 1.32 | 4500.0 | -65.89 | 0.81 | 2600.0 | -64.47 | 0.26 | 13.04 | -13.33 | 8.51 | 89.11 | -33.15 | 69.92 | -13.02 | -3.98 | 16.67 | 103.85 | -80.47 | 83.33 | -84.38 | 468.18 | 20.38 | -8.2 | 15.73 |
| 20Q4 (5) | -0.01 | -102.08 | -102.13 | 24.32 | 5.42 | 14.02 | 2.01 | -62.36 | -39.82 | -0.38 | -112.06 | -135.51 | -0.08 | -103.33 | -104.68 | -0.03 | -102.63 | -102.52 | 0.03 | -95.71 | -96.05 | 0.23 | -14.81 | -42.5 | 4.50 | -36.26 | 11.11 | 80.39 | 1.26 | 4.87 | -433.33 | -353.66 | -236.19 | 533.33 | 852.94 | 344.44 | 22.20 | 24.16 | 41.76 |
| 20Q3 (4) | 0.48 | 380.0 | 0.0 | 23.07 | -2.53 | 0.0 | 5.34 | 62.8 | 0.0 | 3.15 | 158.2 | 0.0 | 2.40 | 361.54 | 0.0 | 1.14 | 375.0 | 0.0 | 0.70 | 250.0 | 0.0 | 0.27 | 0.0 | 0.0 | 7.06 | 34.22 | 0.0 | 79.39 | 6.71 | 0.0 | 170.83 | -35.94 | 0.0 | -70.83 | 57.5 | 0.0 | 17.88 | 0 | 0.0 |
| 20Q2 (3) | 0.10 | -93.67 | 0.0 | 23.67 | -14.21 | 0.0 | 3.28 | -58.16 | 0.0 | 1.22 | -86.7 | 0.0 | 0.52 | -93.0 | 0.0 | 0.24 | -93.8 | 0.0 | 0.20 | -91.23 | 0.0 | 0.27 | -10.0 | 0.0 | 5.26 | -58.68 | 0.0 | 74.40 | 2.17 | 0.0 | 266.67 | 212.5 | 0.0 | -166.67 | -1236.36 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 1.58 | 236.17 | 0.0 | 27.59 | 29.35 | 0.0 | 7.84 | 134.73 | 0.0 | 9.17 | 757.01 | 0.0 | 7.43 | 334.5 | 0.0 | 3.87 | 225.21 | 0.0 | 2.28 | 200.0 | 0.0 | 0.30 | -25.0 | 0.0 | 12.73 | 214.32 | 0.0 | 72.82 | -5.01 | 0.0 | 85.33 | -73.18 | 0.0 | 14.67 | 106.72 | 0.0 | 17.61 | 12.45 | 0.0 |
| 19Q4 (1) | 0.47 | 0.0 | 0.0 | 21.33 | 0.0 | 0.0 | 3.34 | 0.0 | 0.0 | 1.07 | 0.0 | 0.0 | 1.71 | 0.0 | 0.0 | 1.19 | 0.0 | 0.0 | 0.76 | 0.0 | 0.0 | 0.40 | 0.0 | 0.0 | 4.05 | 0.0 | 0.0 | 76.66 | 0.0 | 0.0 | 318.18 | 0.0 | 0.0 | -218.18 | 0.0 | 0.0 | 15.66 | 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) | 24.10 | 103.72 | 28.29 | 5.05 | 14.12 | 36.43 | 1.18 | -36.77 | 14.20 | 25.66 | 10.55 | 27.57 | 37.54 | 57.4 | 15.70 | 39.43 | 1.47 | 10.53 | 15.87 | 15.17 | 144.51 | 2.74 | 99.44 | 8.51 | 0.56 | -93.29 | 0.33 | -5.2 | 13.45 | -12.83 |
| 2022 (9) | 11.83 | 284.09 | 26.93 | 22.13 | 10.35 | 144.1 | 1.87 | -35.35 | 11.30 | 153.36 | 8.27 | 141.11 | 23.85 | 232.64 | 11.26 | 175.31 | 1.33 | 16.67 | 13.78 | 68.87 | 140.65 | 62.85 | 91.64 | -3.34 | 8.36 | 60.93 | 0.35 | -55.54 | 15.43 | -12.38 |
| 2021 (8) | 3.08 | 43.93 | 22.05 | -10.84 | 4.24 | -11.11 | 2.89 | -9.82 | 4.46 | 26.35 | 3.43 | 24.73 | 7.17 | 37.09 | 4.09 | 29.02 | 1.14 | 7.55 | 8.16 | 7.51 | 86.37 | 7.44 | 94.81 | -29.72 | 5.19 | 0 | 0.79 | -17.84 | 17.61 | -6.33 |
| 2020 (7) | 2.14 | 234.38 | 24.73 | 40.03 | 4.77 | 435.96 | 3.21 | 17.35 | 3.53 | 404.29 | 2.75 | 323.08 | 5.23 | 224.84 | 3.17 | 164.17 | 1.06 | -23.19 | 7.59 | 87.87 | 80.39 | 4.87 | 134.91 | 6.29 | -34.91 | 0 | 0.96 | 30.89 | 18.80 | 29.74 |
| 2019 (6) | 0.64 | 0 | 17.66 | -9.67 | 0.89 | 0 | 2.73 | 26.48 | 0.70 | 0 | 0.65 | 0 | 1.61 | 0 | 1.20 | 0 | 1.38 | 31.43 | 4.04 | 87.04 | 76.66 | -3.06 | 126.92 | -36.54 | -26.92 | 0 | 0.74 | 54.41 | 14.49 | -18.41 |
| 2018 (5) | -0.21 | 0 | 19.55 | -9.11 | -1.47 | 0 | 2.16 | 17.91 | -0.72 | 0 | -0.28 | 0 | -0.53 | 0 | -0.10 | 0 | 1.05 | 14.13 | 2.16 | 0 | 79.08 | 0.29 | 200.00 | 351.95 | -104.76 | 0 | 0.48 | 0 | 17.76 | -6.82 |
| 2017 (4) | -3.69 | 0 | 21.51 | -12.6 | -2.95 | 0 | 1.83 | 29.83 | -6.65 | 0 | -5.42 | 0 | -8.52 | 0 | -4.70 | 0 | 0.92 | -18.58 | -3.86 | 0 | 78.85 | 21.74 | 44.25 | -63.53 | 55.75 | 0 | 0.00 | 0 | 19.06 | 19.57 |
| 2016 (3) | 3.46 | -60.99 | 24.61 | 27.05 | 5.84 | -19.34 | 1.41 | 72.84 | 4.81 | -43.21 | 3.90 | -42.39 | 7.23 | -62.11 | 4.69 | -58.75 | 1.13 | -31.93 | 6.88 | -27.81 | 64.77 | 4.62 | 121.34 | 42.07 | -21.34 | 0 | 0.00 | 0 | 15.94 | 51.95 |
| 2015 (2) | 8.87 | -6.93 | 19.37 | -27.67 | 7.24 | -38.7 | 0.82 | -14.71 | 8.47 | -34.59 | 6.77 | -34.08 | 19.08 | -16.86 | 11.37 | -19.7 | 1.66 | 20.29 | 9.53 | -32.36 | 61.91 | -20.97 | 85.41 | -6.23 | 14.59 | 67.76 | 0.00 | 0 | 10.49 | -18.49 |
| 2014 (1) | 9.53 | 13.45 | 26.78 | 0 | 11.81 | 0 | 0.96 | -27.22 | 12.95 | 0 | 10.27 | 0 | 22.95 | 0 | 14.16 | 0 | 1.38 | -4.17 | 14.09 | -7.97 | 78.34 | 79.64 | 91.09 | -6.6 | 8.70 | 294.57 | 0.00 | 0 | 12.87 | -11.55 |
