- 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) | 1.39 | -3.47 | 1.46 | 31.42 | -7.48 | 2.31 | 20.39 | -6.3 | 2.98 | 21.62 | -11.61 | -0.05 | 17.33 | -14.63 | -0.46 | 4.79 | -1.44 | -2.24 | 2.47 | -5.36 | -7.14 | 0.14 | 7.69 | -6.67 | 22.77 | -11.85 | -0.04 | 88.34 | -12.22 | 13.94 | 94.16 | 5.84 | 3.03 | 5.84 | -47.06 | -32.12 | 31.44 | -7.83 | 4.63 |
| 24Q2 (19) | 1.44 | 3.6 | 4.35 | 33.96 | -4.39 | 29.42 | 21.76 | -3.33 | 28.08 | 24.46 | -3.01 | 17.65 | 20.30 | 1.1 | 19.41 | 4.86 | 5.88 | -0.41 | 2.61 | 0.0 | -2.61 | 0.13 | 0.0 | -18.75 | 25.83 | -2.71 | 17.78 | 100.64 | 38.13 | 9.88 | 88.96 | -0.4 | 8.93 | 11.04 | 3.36 | -39.79 | 34.11 | -2.74 | 26.15 |
| 24Q1 (18) | 1.39 | 47.87 | 2.21 | 35.52 | 38.64 | 3.38 | 22.51 | 51.28 | 0.85 | 25.22 | 54.82 | -3.74 | 20.08 | 54.22 | -3.92 | 4.59 | 41.67 | -3.16 | 2.61 | 43.41 | -2.25 | 0.13 | -7.14 | 0.0 | 26.55 | 47.5 | -3.77 | 72.86 | -7.81 | -0.51 | 89.32 | -2.26 | 5.02 | 10.68 | 24.0 | -28.57 | 35.07 | 18.24 | 1.56 |
| 23Q4 (17) | 0.94 | -31.39 | 4.44 | 25.62 | -16.57 | 5.35 | 14.88 | -24.85 | 2.9 | 16.29 | -24.69 | 0.62 | 13.02 | -25.22 | 0.23 | 3.24 | -33.88 | -0.61 | 1.82 | -31.58 | 0.55 | 0.14 | -6.67 | 0.0 | 18.00 | -20.98 | 3.09 | 79.03 | 1.93 | -4.23 | 91.39 | -0.0 | 2.75 | 8.61 | 0.04 | -18.39 | 29.66 | -1.3 | 1.89 |
| 23Q3 (16) | 1.37 | -0.72 | 2.24 | 30.71 | 17.04 | 4.21 | 19.80 | 16.54 | 8.14 | 21.63 | 4.04 | -1.73 | 17.41 | 2.41 | -2.46 | 4.90 | 0.41 | -3.16 | 2.66 | -0.75 | -1.85 | 0.15 | -6.25 | 0.0 | 22.78 | 3.88 | -1.81 | 77.53 | -15.35 | -1.12 | 91.39 | 11.91 | 9.74 | 8.61 | -53.04 | -48.52 | 30.05 | 11.13 | 0.91 |
| 23Q2 (15) | 1.38 | 1.47 | 35.29 | 26.24 | -23.63 | -18.53 | 16.99 | -23.88 | -11.74 | 20.79 | -20.65 | 0.92 | 17.00 | -18.66 | 2.84 | 4.88 | 2.95 | 28.76 | 2.68 | 0.37 | 29.47 | 0.16 | 23.08 | 33.33 | 21.93 | -20.51 | -0.45 | 91.59 | 25.07 | -3.72 | 81.67 | -3.98 | -12.91 | 18.33 | 22.63 | 175.0 | 27.04 | -21.69 | -20.63 |
| 23Q1 (14) | 1.36 | 51.11 | -10.53 | 34.36 | 41.28 | 3.12 | 22.32 | 54.36 | 7.57 | 26.20 | 61.83 | -9.81 | 20.90 | 60.89 | -15.79 | 4.74 | 45.4 | -14.9 | 2.67 | 47.51 | -16.04 | 0.13 | -7.14 | 0.0 | 27.59 | 58.02 | -9.66 | 73.23 | -11.26 | 0.85 | 85.05 | -4.38 | 18.92 | 14.95 | 41.67 | -47.51 | 34.53 | 18.62 | -2.84 |
| 22Q4 (13) | 0.90 | -32.84 | -17.43 | 24.32 | -17.48 | -13.45 | 14.46 | -21.03 | -20.85 | 16.19 | -26.44 | -16.97 | 12.99 | -27.23 | -15.37 | 3.26 | -35.57 | -22.38 | 1.81 | -33.21 | -22.98 | 0.14 | -6.67 | -6.67 | 17.46 | -24.74 | -15.98 | 82.52 | 5.24 | 6.2 | 88.94 | 6.81 | -4.87 | 10.55 | -36.9 | 62.25 | 29.11 | -2.25 | 3.01 |
| 22Q3 (12) | 1.34 | 31.37 | 11.67 | 29.47 | -8.51 | -0.84 | 18.31 | -4.88 | -0.49 | 22.01 | 6.84 | 3.19 | 17.85 | 7.99 | 7.34 | 5.06 | 33.51 | 4.55 | 2.71 | 30.92 | 3.44 | 0.15 | 25.0 | -6.25 | 23.20 | 5.31 | 2.52 | 78.41 | -17.58 | -2.15 | 83.28 | -11.2 | -3.61 | 16.72 | 150.85 | 22.94 | 29.78 | -12.59 | 2.41 |
| 22Q2 (11) | 1.02 | -32.89 | -0.97 | 32.21 | -3.33 | -0.06 | 19.25 | -7.23 | -0.67 | 20.60 | -29.09 | -0.58 | 16.53 | -33.4 | -6.61 | 3.79 | -31.96 | -7.33 | 2.07 | -34.91 | -9.61 | 0.12 | -7.69 | -7.69 | 22.03 | -27.87 | -1.17 | 95.13 | 31.02 | 5.47 | 93.78 | 31.12 | 0.34 | 6.67 | -76.59 | 1.9 | 34.07 | -4.14 | 0.12 |
| 22Q1 (10) | 1.52 | 39.45 | 42.06 | 33.32 | 18.58 | -1.77 | 20.75 | 13.57 | -3.67 | 29.05 | 48.97 | 27.08 | 24.82 | 61.69 | 35.7 | 5.57 | 32.62 | 33.89 | 3.18 | 35.32 | 29.8 | 0.13 | -13.33 | 0.0 | 30.54 | 46.97 | 24.96 | 72.61 | -6.55 | 7.3 | 71.52 | -23.51 | -23.99 | 28.48 | 337.9 | 382.14 | 35.54 | 25.76 | 2.19 |
| 21Q4 (9) | 1.09 | -9.17 | 23.86 | 28.10 | -5.45 | 0.5 | 18.27 | -0.71 | 5.97 | 19.50 | -8.58 | 4.73 | 15.35 | -7.7 | 2.4 | 4.20 | -13.22 | 18.31 | 2.35 | -10.31 | 12.98 | 0.15 | -6.25 | 7.14 | 20.78 | -8.17 | 2.92 | 77.70 | -3.03 | 6.35 | 93.50 | 8.22 | 1.33 | 6.50 | -52.19 | -9.87 | 28.26 | -2.82 | -15.59 |
| 21Q3 (8) | 1.20 | 16.5 | -1.64 | 29.72 | -7.79 | 2.34 | 18.40 | -5.06 | -5.83 | 21.33 | 2.94 | 3.59 | 16.63 | -6.05 | 0.0 | 4.84 | 18.34 | -5.65 | 2.62 | 14.41 | -10.58 | 0.16 | 23.08 | -11.11 | 22.63 | 1.53 | 3.48 | 80.13 | -11.16 | 18.38 | 86.40 | -7.56 | -9.2 | 13.60 | 107.93 | 160.4 | 29.08 | -14.55 | 7.62 |
| 21Q2 (7) | 1.03 | -3.74 | 17.05 | 32.23 | -4.98 | 13.53 | 19.38 | -10.03 | 15.84 | 20.72 | -9.36 | 16.86 | 17.70 | -3.23 | 20.0 | 4.09 | -1.68 | 12.67 | 2.29 | -6.53 | 8.02 | 0.13 | 0.0 | -7.14 | 22.29 | -8.8 | 15.49 | 90.20 | 33.29 | 8.3 | 93.46 | -0.67 | -0.7 | 6.54 | 10.75 | 11.21 | 34.03 | -2.16 | 0 |
| 21Q1 (6) | 1.07 | 21.59 | -4.46 | 33.92 | 21.32 | -2.86 | 21.54 | 24.94 | -4.1 | 22.86 | 22.77 | 0.93 | 18.29 | 22.01 | -7.77 | 4.16 | 17.18 | -8.77 | 2.45 | 17.79 | -11.87 | 0.13 | -7.14 | -7.14 | 24.44 | 21.05 | 0.78 | 67.67 | -7.38 | 13.26 | 94.09 | 1.98 | -5.07 | 5.91 | -18.14 | 567.51 | 34.78 | 3.88 | 2.81 |
| 20Q4 (5) | 0.88 | -27.87 | -1.12 | 27.96 | -3.72 | 11.31 | 17.24 | -11.77 | 10.23 | 18.62 | -9.57 | 10.9 | 14.99 | -9.86 | 10.95 | 3.55 | -30.8 | -5.59 | 2.08 | -29.01 | -6.73 | 0.14 | -22.22 | -12.5 | 20.19 | -7.68 | 11.12 | 73.06 | 7.93 | 6.07 | 92.27 | -3.03 | -1.14 | 7.22 | 38.14 | 8.25 | 33.48 | 23.91 | 18.81 |
| 20Q3 (4) | 1.22 | 38.64 | 0.0 | 29.04 | 2.29 | 0.0 | 19.54 | 16.8 | 0.0 | 20.59 | 16.13 | 0.0 | 16.63 | 12.75 | 0.0 | 5.13 | 41.32 | 0.0 | 2.93 | 38.21 | 0.0 | 0.18 | 28.57 | 0.0 | 21.87 | 13.32 | 0.0 | 67.69 | -18.73 | 0.0 | 95.15 | 1.1 | 0.0 | 5.22 | -11.19 | 0.0 | 27.02 | 0 | 0.0 |
| 20Q2 (3) | 0.88 | -21.43 | 0.0 | 28.39 | -18.7 | 0.0 | 16.73 | -25.51 | 0.0 | 17.73 | -21.72 | 0.0 | 14.75 | -25.62 | 0.0 | 3.63 | -20.39 | 0.0 | 2.12 | -23.74 | 0.0 | 0.14 | 0.0 | 0.0 | 19.30 | -20.41 | 0.0 | 83.29 | 39.4 | 0.0 | 94.12 | -5.04 | 0.0 | 5.88 | 564.71 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 1.12 | 25.84 | 0.0 | 34.92 | 39.01 | 0.0 | 22.46 | 43.61 | 0.0 | 22.65 | 34.9 | 0.0 | 19.83 | 46.78 | 0.0 | 4.56 | 21.28 | 0.0 | 2.78 | 24.66 | 0.0 | 0.14 | -12.5 | 0.0 | 24.25 | 33.46 | 0.0 | 59.75 | -13.25 | 0.0 | 99.12 | 6.19 | 0.0 | 0.88 | -86.73 | 0.0 | 33.83 | 20.05 | 0.0 |
| 19Q4 (1) | 0.89 | 0.0 | 0.0 | 25.12 | 0.0 | 0.0 | 15.64 | 0.0 | 0.0 | 16.79 | 0.0 | 0.0 | 13.51 | 0.0 | 0.0 | 3.76 | 0.0 | 0.0 | 2.23 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 18.17 | 0.0 | 0.0 | 68.88 | 0.0 | 0.0 | 93.33 | 0.0 | 0.0 | 6.67 | 0.0 | 0.0 | 28.18 | 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) | 5.06 | 5.64 | 29.05 | -2.02 | 18.38 | 1.6 | 1.20 | 1.22 | 21.10 | -3.21 | 16.99 | -5.03 | 17.61 | 0.51 | 9.75 | 0.21 | 0.57 | 5.56 | 22.44 | -3.03 | 79.03 | -4.23 | 87.13 | 5.02 | 12.87 | -24.45 | 0.84 | -7.01 | 30.11 | -5.67 |
| 2022 (9) | 4.79 | 9.11 | 29.65 | -3.7 | 18.09 | -6.22 | 1.18 | -6.2 | 21.80 | 3.61 | 17.89 | 5.92 | 17.52 | 3.48 | 9.73 | 0.72 | 0.54 | -5.26 | 23.14 | 2.94 | 82.52 | 6.2 | 82.96 | -9.47 | 17.04 | 103.82 | 0.91 | -2.04 | 31.92 | 2.18 |
| 2021 (8) | 4.39 | 7.07 | 30.79 | 2.74 | 19.29 | 1.58 | 1.26 | -2.93 | 21.04 | 5.68 | 16.89 | 2.24 | 16.93 | 1.56 | 9.66 | -0.92 | 0.57 | -3.39 | 22.48 | 5.05 | 77.70 | 6.35 | 91.64 | -3.85 | 8.36 | 82.86 | 0.93 | -12.76 | 31.24 | 0.06 |
| 2020 (7) | 4.10 | 6.77 | 29.97 | -0.43 | 18.99 | 1.93 | 1.30 | -2.57 | 19.91 | 2.26 | 16.52 | 4.1 | 16.67 | 1.71 | 9.75 | 2.09 | 0.59 | -1.67 | 21.40 | 2.1 | 73.06 | 6.07 | 95.31 | -0.38 | 4.57 | 5.78 | 1.06 | 593.65 | 31.22 | 1.73 |
| 2019 (6) | 3.84 | 5.79 | 30.10 | 1.79 | 18.63 | 6.95 | 1.33 | 34.73 | 19.47 | 7.75 | 15.87 | 4.96 | 16.39 | 1.67 | 9.55 | -2.75 | 0.60 | -7.69 | 20.96 | 9.17 | 68.88 | -7.98 | 95.68 | -0.7 | 4.32 | 18.54 | 0.15 | 170.52 | 30.69 | 2.3 |
| 2018 (5) | 3.63 | -17.5 | 29.57 | -2.38 | 17.42 | -3.01 | 0.99 | -3.78 | 18.07 | -21.09 | 15.12 | -22.02 | 16.12 | -25.68 | 9.82 | -27.79 | 0.65 | -7.14 | 19.20 | -20.4 | 74.85 | 39.7 | 96.35 | 22.92 | 3.65 | -83.13 | 0.06 | 0 | 30.00 | 4.28 |
| 2017 (4) | 4.40 | 38.8 | 30.29 | 1.99 | 17.96 | 3.04 | 1.03 | -2.12 | 22.90 | 31.01 | 19.39 | 30.4 | 21.69 | 24.66 | 13.60 | 40.79 | 0.70 | 9.37 | 24.12 | 28.5 | 53.58 | -19.78 | 78.39 | -21.4 | 21.61 | 7820.29 | 0.00 | 0 | 28.77 | 0.21 |
| 2016 (3) | 3.17 | 28.34 | 29.70 | 8.28 | 17.43 | 22.23 | 1.05 | 1.46 | 17.48 | 20.89 | 14.87 | 24.12 | 17.40 | 20.42 | 9.66 | 29.32 | 0.64 | 3.23 | 18.77 | 19.48 | 66.79 | -31.53 | 99.73 | 1.11 | 0.27 | -79.98 | 0.00 | 0 | 28.71 | 1.31 |
| 2015 (2) | 2.47 | 35.71 | 27.43 | 13.07 | 14.26 | 28.58 | 1.03 | -11.56 | 14.46 | 18.14 | 11.98 | 23.12 | 14.45 | 33.18 | 7.47 | 25.13 | 0.62 | 1.64 | 15.71 | 14.84 | 97.54 | 6.74 | 98.64 | 8.79 | 1.36 | -85.74 | 0.00 | 0 | 28.34 | -0.11 |
| 2014 (1) | 1.82 | 15.19 | 24.26 | 0 | 11.09 | 0 | 1.17 | -3.63 | 12.24 | 0 | 9.73 | 0 | 10.85 | 0 | 5.97 | 0 | 0.61 | -4.69 | 13.68 | 16.72 | 91.38 | 20.73 | 90.67 | 1.66 | 9.56 | -11.61 | 0.00 | 0 | 28.37 | 8.53 |
