- 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) | 1.53 | -42.7 | -32.0 | 84.13 | 3.4 | -0.3 | 17.53 | -18.24 | -43.99 | 18.79 | -38.67 | -20.04 | 12.30 | -42.06 | -15.17 | 2.34 | -42.51 | -36.24 | 1.62 | -38.17 | -28.32 | 0.11 | 0.0 | -15.38 | 29.52 | -29.78 | -12.22 | 59.25 | -26.39 | -36.78 | 93.23 | 33.43 | -30.02 | 6.77 | -77.53 | 120.38 | 21.61 | 1.93 | 6.93 |
| 24Q2 (19) | 2.67 | 193.41 | 34.17 | 81.36 | -2.76 | 0.25 | 21.44 | 1.47 | -27.49 | 30.64 | 108.01 | 37.34 | 21.23 | 193.23 | 51.97 | 4.07 | 197.08 | 25.23 | 2.62 | 136.04 | 28.43 | 0.11 | 0.0 | -8.33 | 42.04 | 60.15 | 28.88 | 80.49 | 14.99 | -16.61 | 69.87 | -51.32 | -47.28 | 30.13 | 169.2 | 192.59 | 21.20 | -3.68 | 14.91 |
| 24Q1 (18) | 0.91 | -75.93 | -81.91 | 83.67 | -1.43 | 0.35 | 21.13 | 23.28 | -25.47 | 14.73 | -52.65 | -73.3 | 7.24 | -70.36 | -82.75 | 1.37 | -76.66 | -83.27 | 1.11 | -68.91 | -76.73 | 0.11 | -15.38 | 0.0 | 26.25 | -36.24 | -61.02 | 70.00 | -4.04 | -12.01 | 143.54 | 159.86 | 179.58 | -43.54 | -196.69 | -189.47 | 22.01 | 2.18 | -4.51 |
| 23Q4 (17) | 3.78 | 68.0 | 47.08 | 84.88 | 0.59 | 4.36 | 17.14 | -45.24 | -14.68 | 31.11 | 32.38 | 15.14 | 24.43 | 68.48 | 26.25 | 5.87 | 59.95 | 34.94 | 3.57 | 57.96 | 40.0 | 0.13 | 0.0 | 8.33 | 41.17 | 22.42 | 9.58 | 72.95 | -22.16 | -15.64 | 55.24 | -58.54 | -25.74 | 45.03 | 235.55 | 75.79 | 21.54 | 6.58 | -14.35 |
| 23Q3 (16) | 2.25 | 13.07 | 22.28 | 84.38 | 3.97 | 0.46 | 31.30 | 5.85 | -25.93 | 23.50 | 5.33 | -30.41 | 14.50 | 3.79 | 20.93 | 3.67 | 12.92 | 16.14 | 2.26 | 10.78 | 27.68 | 0.13 | 8.33 | -7.14 | 33.63 | 3.1 | -20.46 | 93.72 | -2.9 | 3.03 | 133.22 | 0.51 | 6.32 | -33.22 | -2.08 | -32.55 | 20.21 | 9.54 | 19.73 |
| 23Q2 (15) | 1.99 | -60.44 | 332.61 | 81.16 | -2.66 | 1.51 | 29.57 | 4.3 | 65.1 | 22.31 | -59.56 | 91.5 | 13.97 | -66.72 | 192.87 | 3.25 | -60.32 | 351.39 | 2.04 | -57.23 | 316.33 | 0.12 | 9.09 | 50.0 | 32.62 | -51.56 | 32.55 | 96.52 | 21.33 | 0.44 | 132.54 | 158.16 | -13.9 | -32.54 | -166.87 | 39.67 | 18.45 | -19.96 | -27.33 |
| 23Q1 (14) | 5.03 | 95.72 | 31.68 | 83.38 | 2.52 | -0.62 | 28.35 | 41.11 | -7.53 | 55.17 | 104.18 | 53.16 | 41.98 | 116.95 | 42.98 | 8.19 | 88.28 | 42.19 | 4.77 | 87.06 | 51.91 | 0.11 | -8.33 | 10.0 | 67.34 | 79.24 | 48.33 | 79.55 | -8.0 | 1.29 | 51.34 | -30.98 | -39.75 | 48.66 | 89.97 | 229.11 | 23.05 | -8.35 | 22.35 |
| 22Q4 (13) | 2.57 | 39.67 | -39.81 | 81.33 | -3.17 | -3.31 | 20.09 | -52.46 | -37.49 | 27.02 | -19.99 | -23.0 | 19.35 | 61.38 | -14.27 | 4.35 | 37.66 | -38.47 | 2.55 | 44.07 | -28.37 | 0.12 | -14.29 | -20.0 | 37.57 | -11.14 | -8.94 | 86.47 | -4.94 | -14.37 | 74.39 | -40.64 | -18.85 | 25.61 | 202.21 | 207.37 | 25.15 | 48.99 | 27.92 |
| 22Q3 (12) | 1.84 | 300.0 | -61.18 | 83.99 | 5.05 | 1.82 | 42.26 | 135.96 | 28.45 | 33.77 | 189.87 | -10.21 | 11.99 | 151.36 | -55.69 | 3.16 | 338.89 | -59.9 | 1.77 | 261.22 | -56.83 | 0.14 | 75.0 | -6.67 | 42.28 | 71.8 | -4.86 | 90.96 | -5.35 | -14.98 | 125.30 | -18.6 | 43.36 | -25.06 | 53.53 | -298.97 | 16.88 | -33.52 | 20.57 |
| 22Q2 (11) | 0.46 | -87.96 | -88.86 | 79.95 | -4.71 | -1.7 | 17.91 | -41.59 | -48.33 | 11.65 | -67.66 | -72.04 | 4.77 | -83.75 | -81.6 | 0.72 | -87.5 | -89.46 | 0.49 | -84.39 | -86.58 | 0.08 | -20.0 | -42.86 | 24.61 | -45.79 | -49.7 | 96.10 | 22.36 | 10.71 | 153.93 | 80.64 | 85.21 | -53.93 | -464.78 | -419.35 | 25.39 | 34.77 | 68.48 |
| 22Q1 (10) | 3.82 | -10.54 | -2.3 | 83.90 | -0.25 | -0.44 | 30.66 | -4.6 | -13.12 | 36.02 | 2.65 | -15.82 | 29.36 | 30.08 | 4.74 | 5.76 | -18.53 | -15.79 | 3.14 | -11.8 | -10.03 | 0.10 | -33.33 | -16.67 | 45.40 | 10.03 | -10.81 | 78.54 | -22.22 | -19.86 | 85.22 | -7.04 | 3.3 | 14.78 | 77.42 | -15.57 | 18.84 | -4.17 | 24.36 |
| 21Q4 (9) | 4.27 | -9.92 | 4.91 | 84.11 | 1.96 | -4.25 | 32.14 | -2.31 | 28.56 | 35.09 | -6.7 | 16.35 | 22.57 | -16.59 | 1.44 | 7.07 | -10.28 | -8.42 | 3.56 | -13.17 | -5.07 | 0.15 | 0.0 | -6.25 | 41.26 | -7.16 | 11.27 | 100.98 | -5.62 | -2.28 | 91.67 | 4.88 | 10.61 | 8.33 | -33.84 | -51.33 | 19.66 | 40.43 | 24.27 |
| 21Q3 (8) | 4.74 | 14.77 | 28.46 | 82.49 | 1.43 | -1.66 | 32.90 | -5.08 | 4.98 | 37.61 | -9.74 | -1.44 | 27.06 | 4.4 | -4.55 | 7.88 | 15.37 | 0.51 | 4.10 | 12.33 | 13.89 | 0.15 | 7.14 | 25.0 | 44.44 | -9.18 | -6.21 | 106.99 | 23.26 | -11.67 | 87.40 | 5.16 | 6.62 | 12.60 | -25.42 | -29.11 | 14.00 | -7.1 | -24.41 |
| 21Q2 (7) | 4.13 | 5.63 | 31.95 | 81.33 | -3.49 | -3.75 | 34.66 | -1.79 | 5.13 | 41.67 | -2.62 | 12.56 | 25.92 | -7.53 | -4.04 | 6.83 | -0.15 | 8.76 | 3.65 | 4.58 | 13.35 | 0.14 | 16.67 | 27.27 | 48.93 | -3.87 | 6.32 | 86.80 | -11.43 | -32.4 | 83.11 | 0.75 | -6.43 | 16.89 | -3.56 | 55.19 | 15.07 | -0.53 | -12.59 |
| 21Q1 (6) | 3.91 | -3.93 | 223.14 | 84.27 | -4.06 | 3.08 | 35.29 | 41.16 | 75.83 | 42.79 | 41.88 | 25.82 | 28.03 | 25.98 | 90.42 | 6.84 | -11.4 | 210.91 | 3.49 | -6.93 | 156.62 | 0.12 | -25.0 | 50.0 | 50.90 | 37.27 | 7.54 | 98.00 | -5.17 | 19.13 | 82.49 | -0.47 | 39.36 | 17.51 | 2.26 | -57.09 | 15.15 | -4.24 | -37.29 |
| 20Q4 (5) | 4.07 | 10.3 | -14.14 | 87.84 | 4.72 | 6.78 | 25.00 | -20.23 | -25.64 | 30.16 | -20.96 | -20.11 | 22.25 | -21.52 | -16.38 | 7.72 | -1.53 | -13.45 | 3.75 | 4.17 | -23.63 | 0.16 | 33.33 | -11.11 | 37.08 | -21.74 | -16.41 | 103.34 | -14.69 | 20.04 | 82.88 | 1.09 | -7.05 | 17.12 | -3.62 | 57.95 | 15.82 | -14.58 | -4.76 |
| 20Q3 (4) | 3.69 | 17.89 | 0.0 | 83.88 | -0.73 | 0.0 | 31.34 | -4.94 | 0.0 | 38.16 | 3.08 | 0.0 | 28.35 | 4.96 | 0.0 | 7.84 | 24.84 | 0.0 | 3.60 | 11.8 | 0.0 | 0.12 | 9.09 | 0.0 | 47.38 | 2.96 | 0.0 | 121.13 | -5.66 | 0.0 | 81.98 | -7.7 | 0.0 | 17.77 | 63.26 | 0.0 | 18.52 | 7.42 | 0.0 |
| 20Q2 (3) | 3.13 | 158.68 | 0.0 | 84.50 | 3.36 | 0.0 | 32.97 | 64.28 | 0.0 | 37.02 | 8.85 | 0.0 | 27.01 | 83.49 | 0.0 | 6.28 | 185.45 | 0.0 | 3.22 | 136.76 | 0.0 | 0.11 | 37.5 | 0.0 | 46.02 | -2.77 | 0.0 | 128.40 | 56.09 | 0.0 | 88.82 | 50.06 | 0.0 | 10.88 | -73.33 | 0.0 | 17.24 | -28.64 | 0.0 |
| 20Q1 (2) | 1.21 | -74.47 | 0.0 | 81.75 | -0.62 | 0.0 | 20.07 | -40.3 | 0.0 | 34.01 | -9.91 | 0.0 | 14.72 | -44.68 | 0.0 | 2.20 | -75.34 | 0.0 | 1.36 | -72.3 | 0.0 | 0.08 | -55.56 | 0.0 | 47.33 | 6.7 | 0.0 | 82.26 | -4.45 | 0.0 | 59.19 | -33.61 | 0.0 | 40.81 | 276.41 | 0.0 | 24.16 | 45.45 | 0.0 |
| 19Q4 (1) | 4.74 | 0.0 | 0.0 | 82.26 | 0.0 | 0.0 | 33.62 | 0.0 | 0.0 | 37.75 | 0.0 | 0.0 | 26.61 | 0.0 | 0.0 | 8.92 | 0.0 | 0.0 | 4.91 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 44.36 | 0.0 | 0.0 | 86.09 | 0.0 | 0.0 | 89.16 | 0.0 | 0.0 | 10.84 | 0.0 | 0.0 | 16.61 | 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) | 13.03 | 50.12 | 83.50 | 1.19 | 26.42 | -8.9 | 6.81 | -15.47 | 31.87 | 12.06 | 22.79 | 34.45 | 21.09 | 47.48 | 13.17 | 65.66 | 0.52 | 20.93 | 42.47 | 10.2 | 72.95 | -15.64 | 82.91 | -18.71 | 17.16 | 0 | 0.91 | -15.13 | 20.73 | -1.85 |
| 2022 (9) | 8.68 | -49.09 | 82.52 | -0.64 | 29.00 | -13.72 | 8.06 | 35.75 | 28.44 | -26.98 | 16.95 | -34.07 | 14.30 | -50.4 | 7.95 | -45.62 | 0.43 | -21.82 | 38.54 | -16.16 | 86.47 | -14.37 | 101.99 | 18.16 | -1.99 | 0 | 1.07 | 62.96 | 21.12 | 31.1 |
| 2021 (8) | 17.05 | 41.03 | 83.05 | -2.4 | 33.61 | 21.69 | 5.94 | -16.95 | 38.95 | 13.33 | 25.71 | 8.66 | 28.83 | 32.07 | 14.62 | 24.96 | 0.55 | 17.02 | 45.97 | 5.95 | 100.98 | -2.28 | 86.31 | 7.43 | 13.74 | -30.12 | 0.66 | -25.37 | 16.11 | -11.39 |
| 2020 (7) | 12.09 | -32.91 | 85.09 | 1.21 | 27.62 | -20.65 | 7.15 | 58.38 | 34.37 | -10.89 | 23.66 | -15.11 | 21.83 | -35.26 | 11.70 | -42.48 | 0.47 | -33.8 | 43.39 | -3.02 | 103.34 | 20.04 | 80.34 | -10.99 | 19.66 | 101.85 | 0.88 | -27.41 | 18.18 | 18.44 |
| 2019 (6) | 18.02 | 17.01 | 84.07 | 1.87 | 34.81 | 1.99 | 4.51 | 108.81 | 38.57 | 5.85 | 27.87 | 4.7 | 33.72 | 5.05 | 20.34 | -3.56 | 0.71 | -8.97 | 44.74 | 12.55 | 86.09 | 55.68 | 90.26 | -3.62 | 9.74 | 53.32 | 1.21 | 2.05 | 15.35 | 8.17 |
| 2018 (5) | 15.40 | 107.83 | 82.53 | 1.84 | 34.13 | 39.82 | 2.16 | -17.26 | 36.44 | 45.99 | 26.62 | 50.23 | 32.10 | 93.84 | 21.09 | 94.2 | 0.78 | 30.0 | 39.75 | 39.18 | 55.30 | 0.8 | 93.65 | -4.25 | 6.35 | 189.68 | 1.19 | 0 | 14.19 | -17.02 |
| 2017 (4) | 7.41 | -19.37 | 81.04 | 0.93 | 24.41 | -18.28 | 2.61 | 0.95 | 24.96 | -18.16 | 17.72 | -18.53 | 16.56 | -14.95 | 10.86 | -15.55 | 0.60 | 3.45 | 28.56 | -16.25 | 54.86 | -4.74 | 97.81 | -0.15 | 2.19 | 7.01 | 0.00 | 0 | 17.10 | 13.4 |
| 2016 (3) | 9.19 | -37.4 | 80.29 | 5.69 | 29.87 | -4.26 | 2.59 | 14.89 | 30.50 | -7.04 | 21.75 | -18.11 | 19.47 | -39.31 | 12.86 | -42.9 | 0.58 | -31.76 | 34.10 | -3.65 | 57.59 | 12.06 | 97.95 | 3.02 | 2.05 | -57.8 | 0.00 | 0 | 15.08 | 13.73 |
| 2015 (2) | 14.68 | 54.36 | 75.97 | -5.91 | 31.20 | 9.17 | 2.25 | -19.54 | 32.81 | 1.05 | 26.56 | 7.92 | 32.08 | 33.61 | 22.52 | 27.88 | 0.85 | 21.43 | 35.39 | -1.28 | 51.39 | 59.94 | 95.08 | 7.96 | 4.85 | -59.33 | 0.00 | 0 | 13.26 | -12.01 |
| 2014 (1) | 9.51 | -7.22 | 80.74 | 0 | 28.58 | 0 | 2.80 | 28.2 | 32.47 | 0 | 24.61 | 0 | 24.01 | 0 | 17.61 | 0 | 0.70 | -18.6 | 35.85 | 3.14 | 32.13 | -30.53 | 88.06 | -5.85 | 11.94 | 84.79 | 0.00 | 0 | 15.07 | -0.66 |
