- 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) | 1.06 | -25.35 | -10.17 | 21.35 | 9.26 | 7.18 | 9.14 | 13.82 | 18.09 | 13.48 | -5.54 | -2.88 | 10.88 | -10.6 | -1.63 | 2.05 | -17.0 | -2.38 | 1.16 | -21.62 | -12.12 | 0.10 | -16.67 | -16.67 | 17.92 | 1.59 | 2.28 | 98.31 | 55.75 | 58.11 | 67.63 | 20.4 | 21.38 | 32.01 | -26.96 | -27.71 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 1.42 | 19.33 | 21.37 | 19.54 | -2.64 | -5.01 | 8.03 | -0.99 | -9.47 | 14.27 | 6.41 | 3.86 | 12.17 | 9.74 | 12.27 | 2.47 | 16.51 | 15.42 | 1.48 | 17.46 | 12.12 | 0.12 | 9.09 | 0.0 | 17.64 | 5.31 | 3.1 | 63.12 | -16.76 | 1.94 | 56.17 | -7.29 | -12.77 | 43.83 | 11.2 | 23.08 | 10.57 | -3.73 | -0.66 |
| 24Q1 (18) | 1.19 | -1.65 | -12.5 | 20.07 | -1.81 | -0.55 | 8.11 | -8.88 | -5.81 | 13.41 | 3.07 | -10.78 | 11.09 | 3.84 | -9.91 | 2.12 | -1.4 | -12.76 | 1.26 | -5.26 | -16.0 | 0.11 | -8.33 | -8.33 | 16.75 | 1.64 | -8.67 | 75.83 | 15.47 | 12.91 | 60.58 | -11.31 | 5.76 | 39.42 | 24.38 | -7.72 | 10.98 | 10.02 | 4.57 |
| 23Q4 (17) | 1.21 | 2.54 | 14.15 | 20.44 | 2.61 | -1.73 | 8.90 | 14.99 | 8.14 | 13.01 | -6.27 | 13.13 | 10.68 | -3.44 | 12.54 | 2.15 | 2.38 | 18.13 | 1.33 | 0.76 | 15.65 | 0.12 | 0.0 | 0.0 | 16.48 | -5.94 | 11.96 | 65.67 | 5.61 | 9.32 | 68.31 | 22.61 | -4.7 | 31.69 | -28.44 | 11.91 | 9.98 | -10.41 | 1.42 |
| 23Q3 (16) | 1.18 | 0.85 | -13.24 | 19.92 | -3.16 | 0.45 | 7.74 | -12.74 | 4.45 | 13.88 | 1.02 | -8.08 | 11.06 | 2.03 | -11.16 | 2.10 | -1.87 | -8.3 | 1.32 | 0.0 | -8.33 | 0.12 | 0.0 | 9.09 | 17.52 | 2.4 | -4.83 | 62.18 | 0.42 | 4.91 | 55.71 | -13.47 | 13.89 | 44.29 | 24.36 | -13.3 | 11.14 | 4.7 | 2.2 |
| 23Q2 (15) | 1.17 | -13.97 | 18.18 | 20.57 | 1.93 | -3.88 | 8.87 | 3.02 | 3.38 | 13.74 | -8.58 | 8.36 | 10.84 | -11.94 | 7.11 | 2.14 | -11.93 | 22.29 | 1.32 | -12.0 | 21.1 | 0.12 | 0.0 | 9.09 | 17.11 | -6.71 | 6.87 | 61.92 | -7.8 | -1.98 | 64.39 | 12.4 | -5.21 | 35.61 | -16.63 | 9.42 | 10.64 | 1.33 | 4.93 |
| 23Q1 (14) | 1.36 | 28.3 | 14.29 | 20.18 | -2.98 | -9.83 | 8.61 | 4.62 | -10.87 | 15.03 | 30.7 | 3.73 | 12.31 | 29.72 | 4.86 | 2.43 | 33.52 | 16.83 | 1.50 | 30.43 | 13.64 | 0.12 | 0.0 | 9.09 | 18.34 | 24.59 | 3.73 | 67.16 | 11.8 | 8.45 | 57.28 | -20.08 | -13.9 | 42.72 | 50.84 | 27.63 | 10.50 | 6.71 | -3.49 |
| 22Q4 (13) | 1.06 | -22.06 | -13.11 | 20.80 | 4.89 | 0.73 | 8.23 | 11.07 | -1.08 | 11.50 | -23.84 | -21.12 | 9.49 | -23.78 | -20.25 | 1.82 | -20.52 | -17.65 | 1.15 | -20.14 | -20.69 | 0.12 | 9.09 | 0.0 | 14.72 | -20.04 | -16.69 | 60.07 | 1.35 | 9.24 | 71.68 | 46.53 | 25.56 | 28.32 | -44.56 | -34.01 | 9.84 | -9.72 | 4.02 |
| 22Q3 (12) | 1.36 | 37.37 | 14.29 | 19.83 | -7.34 | -3.97 | 7.41 | -13.64 | -14.43 | 15.10 | 19.09 | 3.35 | 12.45 | 23.02 | 2.89 | 2.29 | 30.86 | 13.37 | 1.44 | 32.11 | 9.09 | 0.11 | 0.0 | 0.0 | 18.41 | 14.99 | 2.91 | 59.27 | -6.17 | 11.56 | 48.92 | -27.98 | -17.87 | 51.08 | 56.94 | 24.98 | 10.90 | 7.5 | 0.55 |
| 22Q2 (11) | 0.99 | -16.81 | 2.06 | 21.40 | -4.38 | 1.09 | 8.58 | -11.18 | -10.44 | 12.68 | -12.49 | 10.55 | 10.12 | -13.8 | 2.02 | 1.75 | -15.87 | 2.94 | 1.09 | -17.42 | -0.91 | 0.11 | 0.0 | 0.0 | 16.01 | -9.45 | 9.06 | 63.17 | 2.0 | 11.81 | 67.92 | 2.09 | -18.58 | 32.55 | -2.75 | 96.37 | 10.14 | -6.8 | 7.19 |
| 22Q1 (10) | 1.19 | -2.46 | 27.96 | 22.38 | 8.38 | 5.72 | 9.66 | 16.11 | -0.62 | 14.49 | -0.62 | 17.14 | 11.74 | -1.34 | 17.99 | 2.08 | -5.88 | 20.23 | 1.32 | -8.97 | 13.79 | 0.11 | -8.33 | -8.33 | 17.68 | 0.06 | 12.47 | 61.93 | 12.62 | 9.34 | 66.53 | 16.54 | -14.94 | 33.47 | -22.01 | 57.22 | 10.88 | 15.01 | 17.24 |
| 21Q4 (9) | 1.22 | 2.52 | 20.79 | 20.65 | 0.0 | 1.87 | 8.32 | -3.93 | 2.84 | 14.58 | -0.21 | 22.42 | 11.90 | -1.65 | 21.68 | 2.21 | 9.41 | 28.49 | 1.45 | 9.85 | 21.85 | 0.12 | 9.09 | 0.0 | 17.67 | -1.23 | 20.94 | 54.99 | 3.5 | 19.05 | 57.09 | -4.16 | -15.85 | 42.91 | 5.0 | 33.43 | 9.46 | -12.73 | 5.7 |
| 21Q3 (8) | 1.19 | 22.68 | 14.42 | 20.65 | -2.46 | 13.52 | 8.66 | -9.6 | 38.34 | 14.61 | 27.38 | 21.75 | 12.10 | 21.98 | 24.61 | 2.02 | 18.82 | 15.43 | 1.32 | 20.0 | 10.0 | 0.11 | 0.0 | -8.33 | 17.89 | 21.87 | 23.12 | 53.13 | -5.96 | 16.44 | 59.57 | -28.6 | 13.51 | 40.87 | 146.58 | -14.89 | 10.84 | 14.59 | 6.59 |
| 21Q2 (7) | 0.97 | 4.3 | -6.73 | 21.17 | 0.0 | 8.79 | 9.58 | -1.44 | 14.32 | 11.47 | -7.28 | -16.46 | 9.92 | -0.3 | -9.98 | 1.70 | -1.73 | -12.37 | 1.10 | -5.17 | -12.0 | 0.11 | -8.33 | 0.0 | 14.68 | -6.62 | -10.81 | 56.50 | -0.25 | 15.61 | 83.43 | 6.66 | 36.74 | 16.57 | -22.14 | -57.49 | 9.46 | 1.94 | 0 |
| 21Q1 (6) | 0.93 | -7.92 | -6.06 | 21.17 | 4.44 | 4.08 | 9.72 | 20.15 | 8.48 | 12.37 | 3.86 | 1.98 | 9.95 | 1.74 | 3.11 | 1.73 | 0.58 | -10.36 | 1.16 | -2.52 | -3.33 | 0.12 | 0.0 | 0.0 | 15.72 | 7.6 | 6.07 | 56.64 | 22.62 | -15.63 | 78.22 | 15.3 | 5.97 | 21.29 | -33.81 | -18.72 | 9.28 | 3.69 | 2.43 |
| 20Q4 (5) | 1.01 | -2.88 | 12.22 | 20.27 | 11.43 | 11.19 | 8.09 | 29.23 | 37.59 | 11.91 | -0.75 | 21.9 | 9.78 | 0.72 | 17.41 | 1.72 | -1.71 | 3.61 | 1.19 | -0.83 | 13.33 | 0.12 | 0.0 | 0.0 | 14.61 | 0.55 | 16.32 | 46.19 | 1.23 | -22.33 | 67.84 | 29.28 | 13.29 | 32.16 | -33.03 | -18.62 | 8.95 | -12.0 | -14.11 |
| 20Q3 (4) | 1.04 | 0.0 | 0.0 | 18.19 | -6.53 | 0.0 | 6.26 | -25.3 | 0.0 | 12.00 | -12.6 | 0.0 | 9.71 | -11.89 | 0.0 | 1.75 | -9.79 | 0.0 | 1.20 | -4.0 | 0.0 | 0.12 | 9.09 | 0.0 | 14.53 | -11.73 | 0.0 | 45.63 | -6.63 | 0.0 | 52.48 | -13.99 | 0.0 | 48.02 | 23.16 | 0.0 | 10.17 | 0 | 0.0 |
| 20Q2 (3) | 1.04 | 5.05 | 0.0 | 19.46 | -4.33 | 0.0 | 8.38 | -6.47 | 0.0 | 13.73 | 13.19 | 0.0 | 11.02 | 14.2 | 0.0 | 1.94 | 0.52 | 0.0 | 1.25 | 4.17 | 0.0 | 0.11 | -8.33 | 0.0 | 16.46 | 11.07 | 0.0 | 48.87 | -27.2 | 0.0 | 61.01 | -17.34 | 0.0 | 38.99 | 48.87 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.99 | 10.0 | 0.0 | 20.34 | 11.57 | 0.0 | 8.96 | 52.38 | 0.0 | 12.13 | 24.16 | 0.0 | 9.65 | 15.85 | 0.0 | 1.93 | 16.27 | 0.0 | 1.20 | 14.29 | 0.0 | 0.12 | 0.0 | 0.0 | 14.82 | 17.99 | 0.0 | 67.13 | 12.88 | 0.0 | 73.81 | 23.26 | 0.0 | 26.19 | -33.73 | 0.0 | 9.06 | -13.05 | 0.0 |
| 19Q4 (1) | 0.90 | 0.0 | 0.0 | 18.23 | 0.0 | 0.0 | 5.88 | 0.0 | 0.0 | 9.77 | 0.0 | 0.0 | 8.33 | 0.0 | 0.0 | 1.66 | 0.0 | 0.0 | 1.05 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 12.56 | 0.0 | 0.0 | 59.47 | 0.0 | 0.0 | 59.88 | 0.0 | 0.0 | 39.52 | 0.0 | 0.0 | 10.42 | 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) | 4.80 | 6.67 | 20.28 | -3.75 | 8.54 | 1.18 | 3.18 | 4.44 | 13.90 | 3.65 | 11.21 | 2.56 | 8.70 | 10.97 | 5.42 | 7.75 | 0.48 | 4.35 | 17.33 | 4.02 | 65.67 | 9.32 | 61.45 | -2.41 | 38.55 | 4.09 | 0.25 | 28.2 | 10.55 | 1.15 |
| 2022 (9) | 4.50 | 4.65 | 21.07 | 0.81 | 8.44 | -6.74 | 3.05 | 0.65 | 13.41 | 0.9 | 10.93 | -0.55 | 7.84 | 4.81 | 5.03 | 0.4 | 0.46 | 2.22 | 16.66 | 0.91 | 60.07 | 9.24 | 62.97 | -7.51 | 37.03 | 16.01 | 0.19 | -11.14 | 10.43 | 6.97 |
| 2021 (8) | 4.30 | 5.91 | 20.90 | 6.8 | 9.05 | 14.12 | 3.03 | 23.98 | 13.29 | 7.0 | 10.99 | 9.68 | 7.48 | 1.77 | 5.01 | 2.66 | 0.45 | -6.25 | 16.51 | 9.34 | 54.99 | 19.05 | 68.08 | 6.69 | 31.92 | -11.79 | 0.22 | -7.28 | 9.75 | 3.5 |
| 2020 (7) | 4.06 | 1.0 | 19.57 | 2.03 | 7.93 | 10.29 | 2.44 | 1.73 | 12.42 | 7.35 | 10.02 | 3.94 | 7.35 | 0.27 | 4.88 | 5.63 | 0.48 | 2.13 | 15.10 | 4.72 | 46.19 | -22.33 | 63.81 | 2.73 | 36.19 | -4.48 | 0.24 | 1.36 | 9.42 | -0.53 |
| 2019 (6) | 4.02 | 13.88 | 19.18 | 1.48 | 7.19 | 4.2 | 2.40 | 105.83 | 11.57 | 13.21 | 9.64 | 11.57 | 7.33 | 9.4 | 4.62 | 18.16 | 0.47 | 6.82 | 14.42 | 21.79 | 59.47 | -12.01 | 62.12 | -7.96 | 37.88 | 17.08 | 0.23 | -18.74 | 9.47 | 1.94 |
| 2018 (5) | 3.53 | 13.14 | 18.90 | -4.55 | 6.90 | -7.01 | 1.17 | -5.22 | 10.22 | 12.43 | 8.64 | 11.77 | 6.70 | 16.12 | 3.91 | 24.92 | 0.44 | 15.79 | 11.84 | 7.54 | 67.59 | -21.7 | 67.49 | -17.46 | 32.36 | 75.75 | 0.29 | 0 | 9.29 | -0.54 |
| 2017 (4) | 3.12 | 0.97 | 19.80 | 2.59 | 7.42 | 21.24 | 1.23 | -10.16 | 9.09 | -2.47 | 7.73 | 0.52 | 5.77 | -0.35 | 3.13 | -0.32 | 0.38 | 0.0 | 11.01 | -4.26 | 86.32 | -15.79 | 81.77 | 24.92 | 18.41 | -46.43 | 0.00 | 0 | 9.34 | -0.53 |
| 2016 (3) | 3.09 | -5.5 | 19.30 | -2.77 | 6.12 | 9.09 | 1.37 | -24.82 | 9.32 | 5.67 | 7.69 | 1.99 | 5.79 | -0.86 | 3.14 | -3.68 | 0.38 | -7.32 | 11.50 | 0.79 | 102.51 | 12.72 | 65.46 | 2.89 | 34.37 | -5.53 | 0.00 | 0 | 9.39 | -7.49 |
| 2015 (2) | 3.27 | 29.25 | 19.85 | -2.41 | 5.61 | -5.24 | 1.82 | -6.38 | 8.82 | 8.89 | 7.54 | 18.93 | 5.84 | 21.67 | 3.26 | 20.3 | 0.41 | 2.5 | 11.41 | 6.04 | 90.94 | 1.62 | 63.62 | -12.82 | 36.38 | 34.64 | 0.00 | 0 | 10.15 | -3.06 |
| 2014 (1) | 2.53 | -4.89 | 20.34 | 0 | 5.92 | 0 | 1.95 | 2.49 | 8.10 | 0 | 6.34 | 0 | 4.80 | 0 | 2.71 | 0 | 0.40 | -4.76 | 10.76 | 6.64 | 89.49 | -0.21 | 72.98 | -1.99 | 27.02 | 5.79 | 0.00 | 0 | 10.47 | -1.32 |
