- 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) | 0.82 | -34.4 | -9.89 | 43.91 | -2.2 | 1.22 | 16.27 | -6.12 | 34.46 | 17.60 | -31.09 | -12.35 | 12.09 | -34.11 | -21.75 | 2.74 | -36.72 | -21.71 | 1.94 | -34.24 | -18.14 | 0.16 | 0.0 | 6.67 | 21.53 | -26.89 | -13.46 | 42.49 | -8.8 | -11.92 | 92.43 | 36.49 | 53.76 | 7.57 | -76.41 | -80.89 | 25.42 | -1.78 | -5.33 |
| 24Q2 (19) | 1.25 | 25.0 | 62.34 | 44.90 | 2.96 | 4.78 | 17.33 | 8.99 | 31.69 | 25.54 | 22.85 | 48.83 | 18.35 | 12.58 | 48.22 | 4.33 | 14.85 | 52.46 | 2.95 | 13.46 | 56.91 | 0.16 | 0.0 | 6.67 | 29.45 | 17.61 | 33.92 | 46.59 | -9.11 | -16.73 | 67.72 | -11.44 | -11.93 | 32.08 | 36.34 | 36.81 | 25.88 | -1.18 | -2.01 |
| 24Q1 (18) | 1.00 | 26.58 | 53.85 | 43.61 | 5.72 | 3.51 | 15.90 | 9.43 | 22.87 | 20.79 | 51.97 | 47.55 | 16.30 | 46.58 | 51.63 | 3.77 | 36.59 | 57.08 | 2.60 | 34.02 | 62.5 | 0.16 | -5.88 | 14.29 | 25.04 | 40.67 | 30.35 | 51.26 | 12.78 | -10.4 | 76.47 | -28.12 | -16.45 | 23.53 | 468.17 | 192.26 | 26.19 | 8.67 | 1.28 |
| 23Q4 (17) | 0.79 | -13.19 | 146.88 | 41.25 | -4.91 | 16.86 | 14.53 | 20.08 | 100.41 | 13.68 | -31.87 | 122.44 | 11.12 | -28.03 | 115.5 | 2.76 | -21.14 | 120.8 | 1.94 | -18.14 | 128.24 | 0.17 | 13.33 | 13.33 | 17.80 | -28.46 | 56.55 | 45.45 | -5.78 | -15.63 | 106.39 | 76.98 | -10.1 | -6.39 | -116.14 | 65.17 | 24.10 | -10.24 | 4.74 |
| 23Q3 (16) | 0.91 | 18.18 | -5.21 | 43.38 | 1.24 | 5.99 | 12.10 | -8.05 | 12.04 | 20.08 | 17.02 | 12.43 | 15.45 | 24.8 | -0.52 | 3.50 | 23.24 | -5.41 | 2.37 | 26.06 | 8.22 | 0.15 | 0.0 | 7.14 | 24.88 | 13.14 | 6.42 | 48.24 | -13.78 | -28.47 | 60.12 | -21.82 | -0.95 | 39.60 | 68.86 | -0.15 | 26.85 | 1.67 | 4.35 |
| 23Q2 (15) | 0.77 | 18.46 | -25.24 | 42.85 | 1.71 | -9.37 | 13.16 | 1.7 | 22.88 | 17.16 | 21.79 | -9.11 | 12.38 | 15.16 | -10.81 | 2.84 | 18.33 | -28.1 | 1.88 | 17.5 | -17.9 | 0.15 | 7.14 | -6.25 | 21.99 | 14.47 | -12.63 | 55.95 | -2.2 | -30.61 | 76.90 | -15.98 | 35.76 | 23.45 | 191.25 | -45.92 | 26.41 | 2.13 | 3.0 |
| 23Q1 (14) | 0.65 | 103.12 | -22.62 | 42.13 | 19.35 | -10.93 | 12.94 | 78.48 | 3.85 | 14.09 | 129.11 | -6.69 | 10.75 | 108.33 | -11.23 | 2.40 | 92.0 | -29.82 | 1.60 | 88.24 | -20.0 | 0.14 | -6.67 | -12.5 | 19.21 | 68.95 | -5.69 | 57.21 | 6.2 | -20.65 | 91.53 | -22.66 | 10.66 | 8.05 | 143.88 | -54.33 | 25.86 | 12.39 | 6.77 |
| 22Q4 (13) | 0.32 | -66.67 | -59.49 | 35.30 | -13.76 | -24.36 | 7.25 | -32.87 | -41.2 | 6.15 | -65.57 | -52.25 | 5.16 | -66.77 | -49.95 | 1.25 | -66.22 | -61.18 | 0.85 | -61.19 | -53.8 | 0.15 | 7.14 | -11.76 | 11.37 | -51.37 | -36.69 | 53.87 | -20.12 | -29.97 | 118.35 | 95.01 | 23.41 | -18.35 | -146.27 | -547.04 | 23.01 | -10.57 | -7.26 |
| 22Q3 (12) | 0.96 | -6.8 | 47.69 | 40.93 | -13.43 | -13.6 | 10.80 | 0.84 | -11.62 | 17.86 | -5.4 | 43.68 | 15.53 | 11.89 | 73.71 | 3.70 | -6.33 | 38.06 | 2.19 | -4.37 | 41.29 | 0.14 | -12.5 | -17.65 | 23.38 | -7.11 | 30.4 | 67.44 | -16.36 | -18.41 | 60.69 | 7.15 | -38.08 | 39.66 | -8.55 | 2398.28 | 25.73 | 0.35 | 7.93 |
| 22Q2 (11) | 1.03 | 22.62 | 47.14 | 47.28 | -0.04 | -3.63 | 10.71 | -14.04 | -17.23 | 18.88 | 25.03 | 39.96 | 13.88 | 14.62 | 38.66 | 3.95 | 15.5 | 41.07 | 2.29 | 14.5 | 38.79 | 0.16 | 0.0 | 0.0 | 25.17 | 23.56 | 31.23 | 80.63 | 11.83 | 7.64 | 56.64 | -31.52 | -40.85 | 43.36 | 145.99 | 1023.04 | 25.64 | 5.86 | 0.08 |
| 22Q1 (10) | 0.84 | 6.33 | 35.48 | 47.30 | 1.35 | -1.11 | 12.46 | 1.05 | 8.16 | 15.10 | 17.24 | 22.17 | 12.11 | 17.46 | 27.74 | 3.42 | 6.21 | 35.18 | 2.00 | 8.7 | 39.86 | 0.16 | -5.88 | 6.67 | 20.37 | 13.42 | 9.81 | 72.10 | -6.27 | -3.05 | 82.71 | -13.75 | -11.24 | 17.63 | 329.46 | 158.53 | 24.22 | -2.38 | -6.56 |
| 21Q4 (9) | 0.79 | 21.54 | 8.22 | 46.67 | -1.48 | 9.66 | 12.33 | 0.9 | 24.92 | 12.88 | 3.62 | 21.39 | 10.31 | 15.32 | 27.28 | 3.22 | 20.15 | 17.09 | 1.84 | 18.71 | 22.67 | 0.17 | 0.0 | -5.56 | 17.96 | 0.17 | 16.32 | 76.92 | -6.94 | -16.19 | 95.90 | -2.16 | 2.9 | 4.10 | 158.58 | -43.26 | 24.81 | 4.07 | -3.61 |
| 21Q3 (8) | 0.65 | -7.14 | 0.0 | 47.37 | -3.44 | -0.08 | 12.22 | -5.56 | 0.58 | 12.43 | -7.86 | -0.96 | 8.94 | -10.69 | 0.56 | 2.68 | -4.29 | -1.47 | 1.55 | -6.06 | 6.16 | 0.17 | 6.25 | 6.25 | 17.93 | -6.52 | -2.92 | 82.66 | 10.35 | -10.42 | 98.02 | 2.36 | 1.34 | 1.59 | -58.89 | -51.59 | 23.84 | -6.95 | -13.5 |
| 21Q2 (7) | 0.70 | 12.9 | 9.37 | 49.06 | 2.57 | 5.55 | 12.94 | 12.33 | 17.85 | 13.49 | 9.14 | 11.12 | 10.01 | 5.59 | 13.11 | 2.80 | 10.67 | 4.87 | 1.65 | 15.38 | 12.24 | 0.16 | 6.67 | 0.0 | 19.18 | 3.4 | 8.55 | 74.91 | 0.73 | -23.41 | 95.75 | 2.76 | 6.09 | 3.86 | -43.37 | -58.58 | 25.62 | -1.16 | -19.1 |
| 21Q1 (6) | 0.62 | -15.07 | -35.42 | 47.83 | 12.38 | 3.69 | 11.52 | 16.72 | -22.0 | 12.36 | 16.49 | -20.82 | 9.48 | 17.04 | -26.85 | 2.53 | -8.0 | -35.79 | 1.43 | -4.67 | -34.4 | 0.15 | -16.67 | -6.25 | 18.55 | 20.14 | -13.96 | 74.37 | -18.97 | -12.52 | 93.18 | -0.01 | -1.41 | 6.82 | -5.75 | 24.33 | 25.92 | 0.7 | 38.91 |
| 20Q4 (5) | 0.73 | 12.31 | -18.89 | 42.56 | -10.23 | -4.4 | 9.87 | -18.77 | -15.06 | 10.61 | -15.46 | -27.08 | 8.10 | -8.89 | -25.41 | 2.75 | 1.1 | -29.85 | 1.50 | 2.74 | -29.58 | 0.18 | 12.5 | 0.0 | 15.44 | -16.4 | -22.26 | 91.78 | -0.54 | -0.83 | 93.19 | -3.65 | 16.4 | 7.23 | 120.64 | -64.26 | 25.74 | -6.6 | 18.24 |
| 20Q3 (4) | 0.65 | 1.56 | 0.0 | 47.41 | 2.0 | 0.0 | 12.15 | 10.66 | 0.0 | 12.55 | 3.38 | 0.0 | 8.89 | 0.45 | 0.0 | 2.72 | 1.87 | 0.0 | 1.46 | -0.68 | 0.0 | 0.16 | 0.0 | 0.0 | 18.47 | 4.53 | 0.0 | 92.28 | -5.65 | 0.0 | 96.72 | 7.17 | 0.0 | 3.28 | -64.83 | 0.0 | 27.56 | -12.98 | 0.0 |
| 20Q2 (3) | 0.64 | -33.33 | 0.0 | 46.48 | 0.76 | 0.0 | 10.98 | -25.66 | 0.0 | 12.14 | -22.23 | 0.0 | 8.85 | -31.71 | 0.0 | 2.67 | -32.23 | 0.0 | 1.47 | -32.57 | 0.0 | 0.16 | 0.0 | 0.0 | 17.67 | -18.04 | 0.0 | 97.81 | 15.06 | 0.0 | 90.25 | -4.51 | 0.0 | 9.32 | 69.99 | 0.0 | 31.67 | 69.72 | 0.0 |
| 20Q1 (2) | 0.96 | 6.67 | 0.0 | 46.13 | 3.62 | 0.0 | 14.77 | 27.11 | 0.0 | 15.61 | 7.29 | 0.0 | 12.96 | 19.34 | 0.0 | 3.94 | 0.51 | 0.0 | 2.18 | 2.35 | 0.0 | 0.16 | -11.11 | 0.0 | 21.56 | 8.56 | 0.0 | 85.01 | -8.15 | 0.0 | 94.52 | 18.06 | 0.0 | 5.48 | -72.91 | 0.0 | 18.66 | -14.29 | 0.0 |
| 19Q4 (1) | 0.90 | 0.0 | 0.0 | 44.52 | 0.0 | 0.0 | 11.62 | 0.0 | 0.0 | 14.55 | 0.0 | 0.0 | 10.86 | 0.0 | 0.0 | 3.92 | 0.0 | 0.0 | 2.13 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 19.86 | 0.0 | 0.0 | 92.55 | 0.0 | 0.0 | 80.06 | 0.0 | 0.0 | 20.24 | 0.0 | 0.0 | 21.77 | 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) | 3.11 | -1.27 | 42.36 | -1.4 | 13.23 | 27.7 | 4.00 | -17.18 | 16.19 | 11.27 | 12.40 | 6.44 | 11.16 | -5.1 | 7.70 | 4.62 | 0.60 | -1.64 | 20.87 | 3.62 | 45.45 | -15.63 | 81.79 | 14.97 | 18.29 | -36.6 | 0.08 | -55.87 | 25.75 | 4.5 |
| 2022 (9) | 3.15 | 13.72 | 42.96 | -9.94 | 10.36 | -15.57 | 4.83 | -1.1 | 14.55 | 13.76 | 11.65 | 20.23 | 11.76 | 3.89 | 7.36 | 16.09 | 0.61 | -3.17 | 20.14 | 9.52 | 53.87 | -29.97 | 71.15 | -25.81 | 28.85 | 603.04 | 0.18 | -52.72 | 24.64 | -1.48 |
| 2021 (8) | 2.77 | -6.73 | 47.70 | 4.74 | 12.27 | 3.2 | 4.88 | 3.32 | 12.79 | 0.95 | 9.69 | 0.31 | 11.32 | -5.82 | 6.34 | -3.21 | 0.63 | -3.08 | 18.39 | 0.93 | 76.92 | -16.19 | 95.90 | 2.18 | 4.10 | -33.29 | 0.37 | -27.29 | 25.01 | -3.66 |
| 2020 (7) | 2.97 | 5.69 | 45.54 | -2.02 | 11.89 | 9.18 | 4.72 | 2.4 | 12.67 | 2.59 | 9.66 | 5.0 | 12.02 | 0.59 | 6.55 | -2.53 | 0.65 | -4.41 | 18.22 | 0.94 | 91.78 | -0.85 | 93.85 | 6.47 | 6.15 | -48.12 | 0.52 | 55.36 | 25.96 | 4.85 |
| 2019 (6) | 2.81 | 6.44 | 46.48 | 1.66 | 10.89 | 1.97 | 4.61 | 1.98 | 12.35 | -0.56 | 9.20 | 0.88 | 11.95 | 6.6 | 6.72 | 4.19 | 0.68 | 3.03 | 18.05 | 0.33 | 92.57 | 3.1 | 88.14 | 2.54 | 11.86 | -15.55 | 0.33 | -15.15 | 24.76 | -6.03 |
| 2018 (5) | 2.64 | 36.79 | 45.72 | 11.84 | 10.68 | 35.36 | 4.52 | -7.51 | 12.42 | 32.41 | 9.12 | 29.18 | 11.21 | 44.27 | 6.45 | 34.1 | 0.66 | 6.45 | 17.99 | 18.59 | 89.79 | 8.26 | 85.96 | 2.07 | 14.04 | -11.03 | 0.39 | 10.45 | 26.35 | -4.67 |
| 2017 (4) | 1.93 | -21.86 | 40.88 | -1.94 | 7.89 | -7.39 | 4.89 | -5.65 | 9.38 | -23.68 | 7.06 | -28.25 | 7.77 | -22.38 | 4.81 | -27.12 | 0.62 | -3.13 | 15.17 | -16.97 | 82.94 | 19.54 | 84.22 | 21.38 | 15.78 | -48.46 | 0.35 | 0 | 27.64 | -6.5 |
| 2016 (3) | 2.47 | -26.27 | 41.69 | -7.02 | 8.52 | -38.88 | 5.18 | 0.92 | 12.29 | -33.24 | 9.84 | -33.69 | 10.01 | -32.59 | 6.60 | -35.23 | 0.64 | -4.48 | 18.27 | -24.19 | 69.38 | 37.63 | 69.38 | -8.34 | 30.62 | 25.99 | 0.00 | 0 | 29.56 | 8.4 |
| 2015 (2) | 3.35 | 17.96 | 44.84 | -1.99 | 13.94 | -0.78 | 5.14 | -2.8 | 18.41 | 15.06 | 14.84 | 18.72 | 14.85 | 17.67 | 10.19 | 15.8 | 0.67 | -2.9 | 24.10 | 10.4 | 50.41 | 6.31 | 75.70 | -13.86 | 24.30 | 98.68 | 0.00 | 0 | 27.27 | 2.44 |
| 2014 (1) | 2.84 | 16.39 | 45.75 | 0 | 14.05 | 0 | 5.29 | -25.68 | 16.00 | 0 | 12.50 | 0 | 12.62 | 0 | 8.80 | 0 | 0.69 | 6.15 | 21.83 | -3.83 | 47.42 | 3.47 | 87.88 | 8.94 | 12.23 | -36.75 | 0.00 | 0 | 26.62 | -1.04 |
