- 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) | 0.92 | -30.83 | -42.14 | 54.34 | 4.42 | -4.52 | 20.13 | -0.98 | -25.31 | 22.04 | -10.52 | -31.51 | 16.95 | -19.25 | -31.15 | 2.94 | -27.76 | -43.13 | 2.24 | -28.89 | -42.56 | 0.13 | -13.33 | -18.75 | 26.82 | -6.94 | -25.46 | 27.92 | -27.89 | 8.93 | 91.04 | 9.0 | 9.25 | 8.96 | -49.25 | -43.28 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 1.33 | 12.71 | -3.62 | 52.04 | -3.0 | -6.2 | 20.33 | 2.37 | -17.42 | 24.63 | -10.21 | -13.12 | 20.99 | -0.14 | 3.09 | 4.07 | 14.65 | 1.5 | 3.15 | 9.0 | 5.0 | 0.15 | 7.14 | 0.0 | 28.82 | -9.71 | -10.88 | 38.72 | 66.97 | -8.42 | 83.53 | 15.02 | -3.23 | 17.65 | -35.55 | 39.71 | 26.31 | -16.24 | -2.27 |
| 24Q1 (18) | 1.18 | 8.26 | 10.28 | 53.65 | 5.57 | 11.21 | 19.86 | -11.42 | 16.34 | 27.43 | 27.64 | 35.66 | 21.02 | 21.29 | 32.87 | 3.55 | 4.11 | 16.39 | 2.89 | 5.09 | 22.46 | 0.14 | -12.5 | -6.67 | 31.92 | 25.13 | 33.28 | 23.19 | -7.79 | -19.87 | 72.62 | -30.21 | -13.37 | 27.38 | 775.4 | 69.26 | 31.41 | 30.66 | 11.54 |
| 23Q4 (17) | 1.09 | -31.45 | -19.26 | 50.82 | -10.7 | -5.35 | 22.42 | -16.81 | -1.49 | 21.49 | -33.22 | -9.59 | 17.33 | -29.61 | -9.31 | 3.41 | -34.04 | -14.32 | 2.75 | -29.49 | -8.03 | 0.16 | 0.0 | 6.67 | 25.51 | -29.1 | -7.54 | 25.15 | -1.87 | -23.51 | 104.05 | 24.86 | 9.32 | -4.05 | -125.68 | -184.12 | 24.04 | -8.38 | -3.49 |
| 23Q3 (16) | 1.59 | 15.22 | -18.88 | 56.91 | 2.58 | 16.69 | 26.95 | 9.46 | 15.27 | 32.18 | 13.51 | 14.24 | 24.62 | 20.92 | 15.64 | 5.17 | 28.93 | -14.83 | 3.90 | 30.0 | -8.45 | 0.16 | 6.67 | -20.0 | 35.98 | 11.26 | 16.4 | 25.63 | -39.38 | -30.05 | 83.33 | -3.46 | 0.63 | 15.79 | 25.0 | -8.13 | 26.24 | -2.53 | 34.56 |
| 23Q2 (15) | 1.38 | 28.97 | -38.94 | 55.48 | 15.01 | -6.66 | 24.62 | 44.23 | -22.46 | 28.35 | 40.21 | -25.67 | 20.36 | 28.7 | -31.38 | 4.01 | 31.48 | -36.95 | 3.00 | 27.12 | -33.04 | 0.15 | 0.0 | 0.0 | 32.34 | 35.03 | -22.48 | 42.28 | 46.1 | -17.24 | 86.32 | 2.97 | 4.06 | 12.63 | -21.91 | -25.93 | 26.92 | -4.4 | 6.28 |
| 23Q1 (14) | 1.07 | -20.74 | -22.46 | 48.24 | -10.15 | -11.36 | 17.07 | -25.0 | -16.45 | 20.22 | -14.93 | -26.92 | 15.82 | -17.22 | -24.02 | 3.05 | -23.37 | -21.79 | 2.36 | -21.07 | -18.34 | 0.15 | 0.0 | 7.14 | 23.95 | -13.19 | -24.04 | 28.94 | -11.98 | -18.39 | 83.82 | -11.93 | 14.56 | 16.18 | 235.66 | -36.83 | 28.16 | 13.05 | -11.03 |
| 22Q4 (13) | 1.35 | -31.12 | -4.93 | 53.69 | 10.09 | 4.9 | 22.76 | -2.65 | 13.91 | 23.77 | -15.62 | 8.29 | 19.11 | -10.24 | 10.98 | 3.98 | -34.43 | -4.78 | 2.99 | -29.81 | -2.29 | 0.15 | -25.0 | -16.67 | 27.59 | -10.74 | 9.75 | 32.88 | -10.26 | -11.33 | 95.18 | 14.94 | 5.76 | 4.82 | -71.96 | -44.92 | 24.91 | 27.74 | 5.69 |
| 22Q3 (12) | 1.96 | -13.27 | -4.39 | 48.77 | -17.95 | -17.88 | 23.38 | -26.36 | -23.79 | 28.17 | -26.14 | -19.83 | 21.29 | -28.24 | -19.42 | 6.07 | -4.56 | 0.0 | 4.26 | -4.91 | -4.91 | 0.20 | 33.33 | 17.65 | 30.91 | -25.91 | -19.06 | 36.64 | -28.28 | -5.2 | 82.81 | -0.16 | -5.36 | 17.19 | 0.78 | 37.5 | 19.50 | -23.02 | -27.16 |
| 22Q2 (11) | 2.26 | 63.77 | 28.41 | 59.44 | 9.22 | 0.17 | 31.75 | 55.41 | 3.52 | 38.14 | 37.84 | 19.71 | 29.67 | 42.51 | 24.61 | 6.36 | 63.08 | 29.01 | 4.48 | 55.02 | 21.41 | 0.15 | 7.14 | 0.0 | 41.72 | 32.32 | 19.37 | 51.09 | 44.08 | 49.69 | 82.95 | 13.36 | -13.56 | 17.05 | -33.41 | 322.09 | 25.33 | -19.97 | -5.91 |
| 22Q1 (10) | 1.38 | -2.82 | 16.95 | 54.42 | 6.33 | -7.2 | 20.43 | 2.25 | -18.9 | 27.67 | 26.06 | 7.21 | 20.82 | 20.91 | 8.89 | 3.90 | -6.7 | 13.7 | 2.89 | -5.56 | 12.45 | 0.14 | -22.22 | 7.69 | 31.53 | 25.42 | 5.66 | 35.46 | -4.37 | 0.97 | 73.17 | -18.7 | -24.58 | 25.61 | 192.68 | 757.93 | 31.65 | 34.28 | -6.58 |
| 21Q4 (9) | 1.42 | -30.73 | -3.4 | 51.18 | -13.82 | -12.66 | 19.98 | -34.88 | -32.93 | 21.95 | -37.54 | -29.42 | 17.22 | -34.82 | -24.93 | 4.18 | -31.14 | -6.28 | 3.06 | -31.7 | -6.71 | 0.18 | 5.88 | 28.57 | 25.14 | -34.17 | -28.82 | 37.08 | -4.06 | 4.54 | 90.00 | 2.86 | -5.5 | 8.75 | -30.0 | 83.75 | 23.57 | -11.95 | -16.71 |
| 21Q3 (8) | 2.05 | 16.48 | 8.47 | 59.39 | 0.08 | -1.85 | 30.68 | 0.03 | -5.54 | 35.14 | 10.3 | -5.79 | 26.42 | 10.96 | -6.41 | 6.07 | 23.12 | 0.66 | 4.48 | 21.41 | 7.69 | 0.17 | 13.33 | 13.33 | 38.19 | 9.27 | -7.82 | 38.65 | 13.24 | -2.52 | 87.50 | -8.82 | 0.0 | 12.50 | 209.37 | 0.0 | 26.77 | -0.56 | -0.45 |
| 21Q2 (7) | 1.76 | 49.15 | 13.55 | 59.34 | 1.19 | -0.25 | 30.67 | 21.75 | 15.39 | 31.86 | 23.44 | -2.98 | 23.81 | 24.53 | -9.05 | 4.93 | 43.73 | 0.61 | 3.69 | 43.58 | 2.5 | 0.15 | 15.38 | 7.14 | 34.95 | 17.12 | -6.8 | 34.13 | -2.82 | -36.15 | 95.96 | -1.09 | 17.77 | 4.04 | 35.35 | -79.55 | 26.92 | -20.54 | 0 |
| 21Q1 (6) | 1.18 | -19.73 | 103.45 | 58.64 | 0.07 | 10.29 | 25.19 | -15.44 | 146.24 | 25.81 | -17.01 | 102.43 | 19.12 | -16.65 | 65.54 | 3.43 | -23.09 | 93.79 | 2.57 | -21.65 | 77.24 | 0.13 | -7.14 | 8.33 | 29.84 | -15.52 | 64.86 | 35.12 | -0.99 | 67.24 | 97.01 | 1.87 | 24.73 | 2.99 | -37.31 | -83.88 | 33.88 | 19.72 | -16.59 |
| 20Q4 (5) | 1.47 | -22.22 | 33.64 | 58.60 | -3.16 | 5.04 | 29.79 | -8.28 | 51.14 | 31.10 | -16.62 | 44.05 | 22.94 | -18.74 | 39.54 | 4.46 | -26.04 | 29.65 | 3.28 | -21.15 | 18.84 | 0.14 | -6.67 | -17.65 | 35.32 | -14.75 | 37.86 | 35.47 | -10.54 | 47.61 | 95.24 | 8.84 | 5.63 | 4.76 | -61.9 | -41.9 | 28.30 | 5.24 | -8.8 |
| 20Q3 (4) | 1.89 | 21.94 | 0.0 | 60.51 | 1.71 | 0.0 | 32.48 | 22.2 | 0.0 | 37.30 | 13.58 | 0.0 | 28.23 | 7.83 | 0.0 | 6.03 | 23.06 | 0.0 | 4.16 | 15.56 | 0.0 | 0.15 | 7.14 | 0.0 | 41.43 | 10.48 | 0.0 | 39.65 | -25.82 | 0.0 | 87.50 | 7.39 | 0.0 | 12.50 | -36.72 | 0.0 | 26.89 | 0 | 0.0 |
| 20Q2 (3) | 1.55 | 167.24 | 0.0 | 59.49 | 11.89 | 0.0 | 26.58 | 159.82 | 0.0 | 32.84 | 157.57 | 0.0 | 26.18 | 126.67 | 0.0 | 4.90 | 176.84 | 0.0 | 3.60 | 148.28 | 0.0 | 0.14 | 16.67 | 0.0 | 37.50 | 107.18 | 0.0 | 53.45 | 154.52 | 0.0 | 81.48 | 4.76 | 0.0 | 19.75 | 6.67 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.58 | -47.27 | 0.0 | 53.17 | -4.7 | 0.0 | 10.23 | -48.1 | 0.0 | 12.75 | -40.94 | 0.0 | 11.55 | -29.74 | 0.0 | 1.77 | -48.55 | 0.0 | 1.45 | -47.46 | 0.0 | 0.12 | -29.41 | 0.0 | 18.10 | -29.35 | 0.0 | 21.00 | -12.61 | 0.0 | 77.78 | -13.74 | 0.0 | 18.52 | 125.93 | 0.0 | 40.62 | 30.91 | 0.0 |
| 19Q4 (1) | 1.10 | 0.0 | 0.0 | 55.79 | 0.0 | 0.0 | 19.71 | 0.0 | 0.0 | 21.59 | 0.0 | 0.0 | 16.44 | 0.0 | 0.0 | 3.44 | 0.0 | 0.0 | 2.76 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 25.62 | 0.0 | 0.0 | 24.03 | 0.0 | 0.0 | 90.16 | 0.0 | 0.0 | 8.20 | 0.0 | 0.0 | 31.03 | 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) | 4.89 | -25.8 | 52.90 | -1.38 | 22.82 | -7.2 | 2.93 | 13.33 | 25.62 | -12.71 | 19.59 | -13.47 | 15.40 | -23.38 | 12.08 | -19.68 | 0.61 | -7.58 | 29.48 | -9.93 | 25.15 | -23.51 | 89.14 | 6.62 | 10.86 | -32.78 | 2.61 | -4.81 | 26.32 | 6.65 |
| 2022 (9) | 6.59 | 5.1 | 53.64 | -5.71 | 24.59 | -7.28 | 2.58 | 6.03 | 29.35 | 2.3 | 22.64 | 4.43 | 20.10 | 7.2 | 15.04 | 8.36 | 0.66 | 4.76 | 32.73 | 2.38 | 32.88 | -11.33 | 83.61 | -9.44 | 16.15 | 110.55 | 2.74 | -7.56 | 24.68 | -9.73 |
| 2021 (8) | 6.27 | 14.21 | 56.89 | -2.28 | 26.52 | 3.31 | 2.44 | -23.37 | 28.69 | -2.51 | 21.68 | -5.04 | 18.75 | 13.36 | 13.88 | 8.1 | 0.63 | 12.5 | 31.97 | -5.86 | 37.08 | 4.54 | 92.33 | 5.93 | 7.67 | -40.25 | 2.97 | -19.82 | 27.34 | -11.29 |
| 2020 (7) | 5.49 | 7.44 | 58.22 | 1.15 | 25.67 | 6.12 | 3.18 | -7.18 | 29.43 | 10.68 | 22.83 | 18.41 | 16.54 | 4.03 | 12.84 | -1.76 | 0.56 | -17.65 | 33.96 | 9.58 | 35.47 | 47.61 | 87.16 | -4.06 | 12.84 | 40.27 | 3.70 | -15.6 | 30.82 | 2.94 |
| 2019 (6) | 5.11 | -4.49 | 57.56 | 1.07 | 24.19 | 1.68 | 3.42 | 7.01 | 26.59 | -2.17 | 19.28 | -2.18 | 15.90 | -2.39 | 13.07 | -4.39 | 0.68 | -1.45 | 30.99 | -1.43 | 24.03 | 20.57 | 90.85 | 3.78 | 9.15 | -26.53 | 4.38 | -15.81 | 29.94 | 2.36 |
| 2018 (5) | 5.35 | 10.54 | 56.95 | 2.15 | 23.79 | 8.04 | 3.20 | -3.02 | 27.18 | 19.11 | 19.71 | 6.95 | 16.29 | 6.61 | 13.67 | 5.89 | 0.69 | -1.43 | 31.44 | 14.62 | 19.93 | 7.5 | 87.54 | -9.47 | 12.46 | 234.98 | 5.20 | 0 | 29.25 | 0.24 |
| 2017 (4) | 4.84 | 11.26 | 55.75 | -2.52 | 22.02 | 1.33 | 3.30 | -7.85 | 22.82 | 7.04 | 18.43 | -4.71 | 15.28 | 12.02 | 12.91 | 11.58 | 0.70 | 16.67 | 27.43 | 6.98 | 18.54 | -0.32 | 96.69 | -4.85 | 3.72 | 0 | 0.00 | 0 | 29.18 | 0.34 |
| 2016 (3) | 4.35 | 24.29 | 57.19 | -0.42 | 21.73 | 28.81 | 3.58 | 29.02 | 21.32 | 8.22 | 19.34 | 21.48 | 13.64 | 26.06 | 11.57 | 26.17 | 0.60 | 3.45 | 25.64 | 9.57 | 18.60 | 5.14 | 101.62 | 18.32 | -2.16 | 0 | 0.00 | 0 | 29.08 | -13.56 |
| 2015 (2) | 3.50 | -38.38 | 57.43 | -2.61 | 16.87 | -28.88 | 2.77 | 21.02 | 19.70 | -26.33 | 15.92 | -24.41 | 10.82 | -43.56 | 9.17 | -41.18 | 0.58 | -21.62 | 23.40 | -20.92 | 17.69 | -5.15 | 85.89 | -3.03 | 14.11 | 23.47 | 0.00 | 0 | 33.64 | 11.32 |
| 2014 (1) | 5.68 | 10.94 | 58.97 | 0 | 23.72 | 0 | 2.29 | -7.27 | 26.74 | 0 | 21.06 | 0 | 19.17 | 0 | 15.59 | 0 | 0.74 | -9.76 | 29.59 | 2.74 | 18.65 | -39.07 | 88.57 | -3.08 | 11.43 | 32.7 | 0.00 | 0 | 30.22 | 7.43 |
