- 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) | 1.82 | 31.88 | 6.43 | 32.08 | -3.2 | 2.1 | 21.22 | -4.03 | -1.12 | 28.57 | 30.52 | 7.16 | 22.86 | 28.86 | 7.22 | 4.80 | 35.59 | 4.58 | 3.49 | 34.75 | 4.18 | 0.15 | 7.14 | -6.25 | 34.89 | 21.27 | 5.57 | 32.12 | -31.32 | 1.58 | 74.55 | -26.06 | -7.56 | 26.06 | 3305.45 | 34.65 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 1.38 | -6.76 | -9.21 | 33.14 | 7.25 | 3.66 | 22.11 | 10.77 | 3.51 | 21.89 | -8.6 | -5.28 | 17.74 | -7.07 | -4.73 | 3.54 | -5.09 | -12.38 | 2.59 | -9.44 | -11.9 | 0.14 | -6.67 | -12.5 | 28.77 | -5.67 | -1.94 | 46.77 | 51.6 | 2.63 | 100.81 | 20.44 | 8.75 | -0.81 | -104.77 | -111.14 | 25.95 | 1.76 | 4.05 |
| 24Q1 (18) | 1.48 | 48.0 | -5.13 | 30.90 | -4.66 | -2.8 | 19.96 | -3.67 | -10.05 | 23.95 | 36.55 | 5.32 | 19.09 | 36.07 | 5.3 | 3.73 | 42.91 | -8.8 | 2.86 | 43.0 | -7.74 | 0.15 | 7.14 | -11.76 | 30.50 | 23.88 | 6.09 | 30.85 | -6.43 | -4.58 | 83.70 | -29.47 | -14.49 | 17.04 | 191.2 | 706.42 | 25.50 | 6.07 | 5.59 |
| 23Q4 (17) | 1.00 | -41.52 | -30.07 | 32.41 | 3.15 | 4.25 | 20.72 | -3.45 | 4.91 | 17.54 | -34.21 | -15.47 | 14.03 | -34.19 | -16.44 | 2.61 | -43.14 | -33.08 | 2.00 | -40.3 | -31.74 | 0.14 | -12.5 | -17.65 | 24.62 | -25.51 | -8.34 | 32.97 | 4.27 | -3.6 | 118.68 | 47.16 | 24.52 | -18.68 | -196.52 | -498.53 | 24.04 | -0.66 | 0.88 |
| 23Q3 (16) | 1.71 | 12.5 | 9.62 | 31.42 | -1.72 | 9.21 | 21.46 | 0.47 | 12.83 | 26.66 | 15.36 | 10.12 | 21.32 | 14.5 | 10.07 | 4.59 | 13.61 | 3.61 | 3.35 | 13.95 | 6.35 | 0.16 | 0.0 | 0.0 | 33.05 | 12.64 | 7.65 | 31.62 | -30.61 | -8.53 | 80.65 | -13.0 | 2.44 | 19.35 | 165.16 | -9.03 | 24.20 | -2.97 | -4.23 |
| 23Q2 (15) | 1.52 | -2.56 | 87.65 | 31.97 | 0.57 | 31.73 | 21.36 | -3.74 | 57.99 | 23.11 | 1.63 | 52.74 | 18.62 | 2.7 | 54.78 | 4.04 | -1.22 | 80.36 | 2.94 | -5.16 | 82.61 | 0.16 | -5.88 | 23.08 | 29.34 | 2.05 | 26.96 | 45.57 | 40.95 | -8.44 | 92.70 | -5.3 | 3.94 | 7.30 | 245.5 | -32.48 | 24.94 | 3.27 | -0.99 |
| 23Q1 (14) | 1.56 | 9.09 | 102.6 | 31.79 | 2.25 | 43.72 | 22.19 | 12.35 | 97.95 | 22.74 | 9.59 | 60.48 | 18.13 | 7.98 | 60.58 | 4.09 | 4.87 | 99.51 | 3.10 | 5.8 | 103.95 | 0.17 | 0.0 | 30.77 | 28.75 | 7.04 | 29.39 | 32.33 | -5.47 | -10.69 | 97.89 | 2.7 | 22.36 | 2.11 | -54.93 | -90.14 | 24.15 | 1.34 | 1.3 |
| 22Q4 (13) | 1.43 | -8.33 | 155.36 | 31.09 | 8.06 | 37.69 | 19.75 | 3.84 | 73.7 | 20.75 | -14.29 | 100.29 | 16.79 | -13.32 | 101.56 | 3.90 | -11.96 | 158.28 | 2.93 | -6.98 | 171.3 | 0.17 | 6.25 | 41.67 | 26.86 | -12.51 | 43.48 | 34.20 | -1.07 | -15.12 | 95.31 | 21.07 | -13.35 | 4.69 | -77.97 | 146.88 | 23.83 | -5.7 | -6.03 |
| 22Q3 (12) | 1.56 | 92.59 | -44.88 | 28.77 | 18.54 | 15.22 | 19.02 | 40.68 | 32.54 | 24.21 | 60.01 | -47.72 | 19.37 | 61.01 | -56.13 | 4.43 | 97.77 | -41.63 | 3.15 | 95.65 | -40.23 | 0.16 | 23.08 | 33.33 | 30.70 | 32.84 | -44.33 | 34.57 | -30.54 | -30.67 | 78.72 | -11.73 | 153.79 | 21.28 | 96.81 | -69.16 | 25.27 | 0.32 | -2.88 |
| 22Q2 (11) | 0.81 | 5.19 | 8.0 | 24.27 | 9.72 | -8.73 | 13.52 | 20.61 | -13.83 | 15.13 | 6.77 | 22.91 | 12.03 | 6.55 | 8.48 | 2.24 | 9.27 | 12.56 | 1.61 | 5.92 | 11.81 | 0.13 | 0.0 | 0.0 | 23.11 | 4.01 | 9.73 | 49.77 | 37.49 | 22.19 | 89.19 | 11.49 | -30.5 | 10.81 | -49.55 | 138.16 | 25.19 | 5.66 | -6.18 |
| 22Q1 (10) | 0.77 | 37.5 | -34.75 | 22.12 | -2.04 | -23.57 | 11.21 | -1.41 | -43.44 | 14.17 | 36.78 | -24.02 | 11.29 | 35.53 | -24.13 | 2.05 | 35.76 | -36.73 | 1.52 | 40.74 | -32.14 | 0.13 | 8.33 | -13.33 | 22.22 | 18.7 | -15.51 | 36.20 | -10.15 | -19.56 | 80.00 | -27.27 | -24.87 | 21.43 | 314.29 | 430.61 | 23.84 | -5.99 | -3.44 |
| 21Q4 (9) | 0.56 | -80.21 | -49.55 | 22.58 | -9.57 | -29.06 | 11.37 | -20.77 | -47.65 | 10.36 | -77.63 | -46.04 | 8.33 | -81.13 | -45.09 | 1.51 | -80.11 | -51.6 | 1.08 | -79.51 | -48.82 | 0.12 | 0.0 | -14.29 | 18.72 | -66.06 | -32.64 | 40.29 | -19.19 | -21.05 | 110.00 | 254.63 | -2.43 | -10.00 | -114.5 | 21.54 | 25.36 | -2.54 | 0.4 |
| 21Q3 (8) | 2.83 | 277.33 | 148.25 | 24.97 | -6.09 | -21.38 | 14.35 | -8.54 | -27.78 | 46.31 | 276.2 | 148.84 | 44.15 | 298.11 | 201.57 | 7.59 | 281.41 | 128.61 | 5.27 | 265.97 | 146.26 | 0.12 | -7.69 | -14.29 | 55.15 | 161.87 | 107.72 | 49.86 | 22.42 | -5.91 | 31.02 | -75.83 | -70.92 | 68.98 | 343.46 | 1134.72 | 26.02 | -3.09 | 2.48 |
| 21Q2 (7) | 0.75 | -36.44 | -50.33 | 26.59 | -8.12 | -21.14 | 15.69 | -20.84 | -34.08 | 12.31 | -33.99 | -45.87 | 11.09 | -25.47 | -35.07 | 1.99 | -38.58 | -49.49 | 1.44 | -35.71 | -42.63 | 0.13 | -13.33 | -7.14 | 21.06 | -19.92 | -30.91 | 40.73 | -9.49 | -37.79 | 128.33 | 20.52 | 22.79 | -28.33 | -337.14 | -528.06 | 26.85 | 8.75 | 0 |
| 21Q1 (6) | 1.18 | 6.31 | 18.0 | 28.94 | -9.08 | 7.07 | 19.82 | -8.75 | 30.91 | 18.65 | -2.86 | 10.75 | 14.88 | -1.91 | 11.29 | 3.24 | 3.85 | 26.56 | 2.24 | 6.16 | 30.99 | 0.15 | 7.14 | 25.0 | 26.30 | -5.36 | 0.73 | 45.00 | -11.82 | -18.61 | 106.48 | -5.56 | 17.84 | -6.48 | 49.15 | -167.25 | 24.69 | -2.26 | -12.82 |
| 20Q4 (5) | 1.11 | -2.63 | -67.35 | 31.83 | 0.22 | 22.42 | 21.72 | 9.31 | 69.03 | 19.20 | 3.17 | -61.87 | 15.17 | 3.62 | -67.98 | 3.12 | -6.02 | -66.05 | 2.11 | -1.4 | -62.72 | 0.14 | 0.0 | 16.67 | 27.79 | 4.67 | -53.62 | 51.03 | -3.7 | -6.85 | 112.75 | 5.7 | 339.89 | -12.75 | -91.18 | -117.04 | 25.26 | -0.51 | 0.08 |
| 20Q3 (4) | 1.14 | -24.5 | 0.0 | 31.76 | -5.81 | 0.0 | 19.87 | -16.51 | 0.0 | 18.61 | -18.16 | 0.0 | 14.64 | -14.29 | 0.0 | 3.32 | -15.74 | 0.0 | 2.14 | -14.74 | 0.0 | 0.14 | 0.0 | 0.0 | 26.55 | -12.89 | 0.0 | 52.99 | -19.06 | 0.0 | 106.67 | 2.06 | 0.0 | -6.67 | -47.78 | 0.0 | 25.39 | 0 | 0.0 |
| 20Q2 (3) | 1.51 | 51.0 | 0.0 | 33.72 | 24.75 | 0.0 | 23.80 | 57.2 | 0.0 | 22.74 | 35.04 | 0.0 | 17.08 | 27.75 | 0.0 | 3.94 | 53.91 | 0.0 | 2.51 | 46.78 | 0.0 | 0.14 | 16.67 | 0.0 | 30.48 | 16.74 | 0.0 | 65.47 | 18.41 | 0.0 | 104.51 | 15.66 | 0.0 | -4.51 | -146.8 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 1.00 | -70.59 | 0.0 | 27.03 | 3.96 | 0.0 | 15.14 | 17.82 | 0.0 | 16.84 | -66.55 | 0.0 | 13.37 | -71.78 | 0.0 | 2.56 | -72.14 | 0.0 | 1.71 | -69.79 | 0.0 | 0.12 | 0.0 | 0.0 | 26.11 | -56.43 | 0.0 | 55.29 | 0.93 | 0.0 | 90.36 | 252.56 | 0.0 | 9.64 | -87.11 | 0.0 | 28.32 | 12.2 | 0.0 |
| 19Q4 (1) | 3.40 | 0.0 | 0.0 | 26.00 | 0.0 | 0.0 | 12.85 | 0.0 | 0.0 | 50.35 | 0.0 | 0.0 | 47.38 | 0.0 | 0.0 | 9.19 | 0.0 | 0.0 | 5.66 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 59.92 | 0.0 | 0.0 | 54.78 | 0.0 | 0.0 | 25.63 | 0.0 | 0.0 | 74.79 | 0.0 | 0.0 | 25.24 | 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) | 5.80 | 27.19 | 31.88 | 18.47 | 21.46 | 32.31 | 5.91 | -9.77 | 22.65 | 19.71 | 18.14 | 19.58 | 15.16 | 24.06 | 11.48 | 26.71 | 0.63 | 6.78 | 29.05 | 11.56 | 32.97 | -3.6 | 94.86 | 10.67 | 5.14 | -64.0 | 0.13 | -19.36 | 24.34 | -0.73 |
| 2022 (9) | 4.56 | -14.29 | 26.91 | 3.78 | 16.22 | 4.51 | 6.54 | -14.75 | 18.92 | -12.0 | 15.17 | -20.74 | 12.22 | -15.9 | 9.06 | -10.83 | 0.59 | 13.46 | 26.04 | -12.82 | 34.20 | -15.12 | 85.71 | 18.85 | 14.29 | -48.76 | 0.16 | 56.13 | 24.52 | -4.55 |
| 2021 (8) | 5.32 | 17.44 | 25.93 | -16.97 | 15.52 | -23.55 | 7.68 | 1.67 | 21.50 | 10.48 | 19.14 | 26.42 | 14.53 | 14.14 | 10.16 | 18.83 | 0.52 | -5.45 | 29.87 | 7.41 | 40.29 | -21.05 | 72.12 | -30.82 | 27.88 | 0 | 0.11 | -30.65 | 25.69 | -2.1 |
| 2020 (7) | 4.53 | -34.82 | 31.23 | 10.08 | 20.30 | 19.27 | 7.55 | -5.45 | 19.46 | -25.04 | 15.14 | -32.71 | 12.73 | -32.57 | 8.55 | -31.6 | 0.55 | 1.85 | 27.81 | -20.61 | 51.03 | -6.85 | 104.26 | 59.24 | -4.26 | 0 | 0.15 | -33.3 | 26.24 | 0.11 |
| 2019 (6) | 6.95 | 111.89 | 28.37 | 10.3 | 17.02 | 22.27 | 7.99 | 1.05 | 25.96 | 73.65 | 22.50 | 89.55 | 18.88 | 99.37 | 12.50 | 100.64 | 0.54 | 8.0 | 35.03 | 47.06 | 54.78 | -0.65 | 65.47 | -29.89 | 34.53 | 394.3 | 0.23 | -25.72 | 26.21 | 0.96 |
| 2018 (5) | 3.28 | -8.64 | 25.72 | -13.4 | 13.92 | -21.13 | 7.90 | 23.54 | 14.95 | -15.35 | 11.87 | -13.17 | 9.47 | -11.08 | 6.23 | -10.74 | 0.50 | 0.0 | 23.82 | -3.87 | 55.14 | -9.56 | 93.38 | -6.62 | 6.99 | 0 | 0.31 | 0 | 25.96 | 5.57 |
| 2017 (4) | 3.59 | -28.77 | 29.70 | -18.7 | 17.65 | -26.58 | 6.40 | 63.82 | 17.66 | -28.04 | 13.67 | -30.57 | 10.65 | -32.59 | 6.98 | -37.29 | 0.50 | -10.71 | 24.78 | -14.52 | 60.97 | 18.04 | 100.00 | 2.22 | 0.00 | 0 | 0.00 | 0 | 24.59 | -0.08 |
| 2016 (3) | 5.04 | -5.26 | 36.53 | -1.08 | 24.04 | -2.67 | 3.91 | 9.21 | 24.54 | -5.72 | 19.69 | -9.1 | 15.80 | -13.09 | 11.13 | -22.22 | 0.56 | -15.15 | 28.99 | -4.04 | 51.65 | 59.71 | 97.83 | 2.95 | 1.93 | -63.02 | 0.00 | 0 | 24.61 | 7.99 |
| 2015 (2) | 5.32 | 7.47 | 36.93 | 2.41 | 24.70 | 3.35 | 3.58 | 1.68 | 26.03 | -0.08 | 21.66 | -0.18 | 18.18 | -1.99 | 14.31 | -6.65 | 0.66 | -7.04 | 30.21 | 0.27 | 32.34 | 48.83 | 95.02 | 3.47 | 5.21 | -36.14 | 0.00 | 0 | 22.79 | 3.92 |
| 2014 (1) | 4.95 | 1.43 | 36.06 | 0 | 23.90 | 0 | 3.52 | 8.05 | 26.05 | 0 | 21.70 | 0 | 18.55 | 0 | 15.33 | 0 | 0.71 | -1.39 | 30.13 | 0.47 | 21.73 | 6.36 | 91.84 | -3.29 | 8.16 | 70.98 | 0.00 | 0 | 21.93 | -0.14 |
