- 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) | 3.00 | 13.21 | 20.48 | 28.16 | -6.1 | -14.82 | 14.35 | -11.47 | -7.18 | 14.56 | -16.08 | -11.0 | 12.63 | -1.33 | -3.22 | 5.84 | 16.57 | 18.46 | 3.23 | 9.86 | 12.15 | 0.24 | 14.29 | 20.0 | 19.23 | -15.29 | -10.81 | 95.38 | 2.24 | 22.25 | 98.72 | 5.39 | 4.25 | 1.28 | -79.74 | -75.82 | 14.18 | -0.77 | -8.22 |
| 24Q2 (19) | 2.65 | 54.07 | -13.68 | 29.99 | 6.76 | -7.21 | 16.21 | 44.99 | -2.58 | 17.35 | 34.5 | -12.86 | 12.80 | 35.88 | -22.75 | 5.01 | 60.06 | -23.51 | 2.94 | 47.74 | -27.05 | 0.21 | 16.67 | -4.55 | 22.70 | 17.98 | -10.56 | 93.29 | 19.04 | 1.86 | 93.67 | 8.0 | 12.27 | 6.33 | -52.29 | -61.8 | 14.29 | -15.79 | -5.43 |
| 24Q1 (18) | 1.72 | -16.91 | 22.86 | 28.09 | -4.59 | -4.88 | 11.18 | -10.7 | -26.2 | 12.90 | 7.59 | 24.88 | 9.42 | -8.81 | 24.6 | 3.13 | -23.84 | 28.28 | 1.99 | -22.87 | 9.94 | 0.18 | -18.18 | -10.0 | 19.24 | 7.19 | 13.18 | 78.37 | -6.18 | 24.71 | 86.73 | -17.17 | -40.52 | 13.27 | 381.22 | 128.94 | 16.97 | 8.37 | 1.56 |
| 23Q4 (17) | 2.07 | -16.87 | 5.08 | 29.44 | -10.95 | -9.3 | 12.52 | -19.02 | -21.16 | 11.99 | -26.71 | -16.21 | 10.33 | -20.84 | -10.49 | 4.11 | -16.63 | 5.66 | 2.58 | -10.42 | 2.38 | 0.22 | 10.0 | 10.0 | 17.95 | -16.74 | -7.43 | 83.53 | 7.06 | 28.09 | 104.72 | 10.58 | -5.85 | -4.72 | -188.95 | 57.98 | 15.66 | 1.36 | -11.33 |
| 23Q3 (16) | 2.49 | -18.89 | -50.0 | 33.06 | 2.29 | -4.64 | 15.46 | -7.09 | -28.98 | 16.36 | -17.83 | -46.52 | 13.05 | -21.24 | -48.09 | 4.93 | -24.73 | -54.98 | 2.88 | -28.54 | -54.29 | 0.20 | -9.09 | -16.67 | 21.56 | -15.05 | -37.94 | 78.02 | -14.82 | 2.62 | 94.70 | 13.5 | 33.41 | 5.30 | -67.99 | -81.48 | 15.45 | 2.25 | 1.71 |
| 23Q2 (15) | 3.07 | 119.29 | -17.91 | 32.32 | 9.45 | 9.12 | 16.64 | 9.83 | -10.87 | 19.91 | 92.74 | -19.85 | 16.57 | 119.18 | -16.48 | 6.55 | 168.44 | -23.12 | 4.03 | 122.65 | -20.51 | 0.22 | 10.0 | -12.0 | 25.38 | 49.29 | -10.16 | 91.59 | 45.75 | 13.62 | 83.43 | -42.79 | 11.05 | 16.57 | 136.15 | -33.39 | 15.11 | -9.58 | -6.5 |
| 23Q1 (14) | 1.40 | -28.93 | -2.1 | 29.53 | -9.03 | 21.22 | 15.15 | -4.6 | 38.23 | 10.33 | -27.81 | -9.54 | 7.56 | -34.49 | -11.89 | 2.44 | -37.28 | -23.99 | 1.81 | -28.17 | -9.95 | 0.20 | 0.0 | -9.09 | 17.00 | -12.33 | 8.7 | 62.84 | -3.63 | -3.32 | 145.83 | 31.12 | 51.67 | -45.83 | -308.33 | -1291.67 | 16.71 | -5.38 | -2.62 |
| 22Q4 (13) | 1.97 | -60.44 | -12.05 | 32.46 | -6.37 | 34.02 | 15.88 | -27.06 | 25.63 | 14.31 | -53.22 | -2.25 | 11.54 | -54.1 | -10.33 | 3.89 | -64.47 | -29.01 | 2.52 | -60.0 | -26.32 | 0.20 | -16.67 | -23.08 | 19.39 | -44.19 | 3.69 | 65.21 | -14.23 | -4.38 | 111.22 | 56.7 | 29.12 | -11.22 | -139.21 | -180.98 | 17.66 | 16.26 | 22.13 |
| 22Q3 (12) | 4.98 | 33.16 | 564.0 | 34.67 | 17.05 | 24.76 | 21.77 | 16.6 | 99.36 | 30.59 | 23.15 | 232.14 | 25.14 | 26.71 | 274.11 | 10.95 | 28.52 | 482.45 | 6.30 | 24.26 | 392.19 | 0.24 | -4.0 | 33.33 | 34.74 | 22.97 | 132.84 | 76.03 | -5.68 | 38.01 | 70.98 | -5.52 | -41.1 | 28.63 | 15.09 | 259.5 | 15.19 | -6.0 | -25.47 |
| 22Q2 (11) | 3.74 | 161.54 | 214.29 | 29.62 | 21.59 | 8.9 | 18.67 | 70.35 | 50.2 | 24.84 | 117.51 | 113.95 | 19.84 | 131.24 | 104.75 | 8.52 | 165.42 | 185.91 | 5.07 | 152.24 | 149.75 | 0.25 | 13.64 | 25.0 | 28.25 | 80.63 | 62.45 | 80.61 | 24.02 | 50.62 | 75.13 | -21.87 | -29.88 | 24.87 | 546.7 | 448.22 | 16.16 | -5.83 | -8.55 |
| 22Q1 (10) | 1.43 | -36.16 | 41.58 | 24.36 | 0.58 | -10.14 | 10.96 | -13.29 | 12.64 | 11.42 | -21.99 | -5.62 | 8.58 | -33.33 | -14.63 | 3.21 | -41.42 | 23.94 | 2.01 | -41.23 | 12.29 | 0.22 | -15.38 | 29.41 | 15.64 | -16.36 | -17.42 | 65.00 | -4.69 | 31.79 | 96.15 | 11.63 | 18.34 | 3.85 | -72.25 | -79.49 | 17.16 | 18.67 | -15.8 |
| 21Q4 (9) | 2.24 | 198.67 | 148.89 | 24.22 | -12.85 | -19.27 | 12.64 | 15.75 | -7.67 | 14.64 | 58.96 | 59.48 | 12.87 | 91.52 | 62.91 | 5.48 | 191.49 | 130.25 | 3.42 | 167.19 | 102.37 | 0.26 | 44.44 | 23.81 | 18.70 | 25.34 | 22.95 | 68.20 | 23.8 | 36.95 | 86.14 | -28.52 | -42.1 | 13.86 | 177.23 | 128.42 | 14.46 | -29.05 | -5.49 |
| 21Q3 (8) | 0.75 | -36.97 | 5.63 | 27.79 | 2.17 | -17.02 | 10.92 | -12.15 | -33.98 | 9.21 | -20.67 | -5.92 | 6.72 | -30.65 | -9.31 | 1.88 | -36.91 | -6.0 | 1.28 | -36.95 | -8.57 | 0.18 | -10.0 | 0.0 | 14.92 | -14.2 | -9.52 | 55.09 | 2.93 | 28.03 | 120.51 | 12.48 | -29.22 | -17.95 | -151.28 | 74.46 | 20.38 | 15.34 | 16.79 |
| 21Q2 (7) | 1.19 | 17.82 | 25.26 | 27.20 | 0.33 | -16.23 | 12.43 | 27.75 | -18.38 | 11.61 | -4.05 | -9.15 | 9.69 | -3.58 | -9.69 | 2.98 | 15.06 | 24.69 | 2.03 | 13.41 | 18.02 | 0.20 | 17.65 | 25.0 | 17.39 | -8.18 | -14.59 | 53.52 | 8.52 | 1.85 | 107.14 | 31.87 | -10.0 | -7.14 | -138.1 | 62.5 | 17.67 | -13.3 | 0 |
| 21Q1 (6) | 1.01 | 12.22 | -3.81 | 27.11 | -9.63 | -10.41 | 9.73 | -28.93 | 33.11 | 12.10 | 31.81 | -18.9 | 10.05 | 27.22 | -16.6 | 2.59 | 8.82 | 0.39 | 1.79 | 5.92 | -7.73 | 0.17 | -19.05 | 6.25 | 18.94 | 24.52 | -14.53 | 49.32 | -0.96 | 41.28 | 81.25 | -45.39 | 69.27 | 18.75 | 138.44 | -62.5 | 20.38 | 33.2 | 0 |
| 20Q4 (5) | 0.90 | 26.76 | -25.62 | 30.00 | -10.42 | -11.58 | 13.69 | -17.23 | -4.73 | 9.18 | -6.23 | -28.73 | 7.90 | 6.61 | -22.4 | 2.38 | 19.0 | -15.6 | 1.69 | 20.71 | -21.76 | 0.21 | 16.67 | 5.0 | 15.21 | -7.76 | -19.01 | 49.80 | 15.73 | 28.48 | 148.78 | -12.62 | 34.15 | -48.78 | 30.58 | -347.15 | 15.30 | -12.32 | -8.27 |
| 20Q3 (4) | 0.71 | -25.26 | 0.0 | 33.49 | 3.14 | 0.0 | 16.54 | 8.6 | 0.0 | 9.79 | -23.4 | 0.0 | 7.41 | -30.94 | 0.0 | 2.00 | -16.32 | 0.0 | 1.40 | -18.6 | 0.0 | 0.18 | 12.5 | 0.0 | 16.49 | -19.01 | 0.0 | 43.03 | -18.12 | 0.0 | 170.27 | 43.03 | 0.0 | -70.27 | -268.92 | 0.0 | 17.45 | 0 | 0.0 |
| 20Q2 (3) | 0.95 | -9.52 | 0.0 | 32.47 | 7.3 | 0.0 | 15.23 | 108.34 | 0.0 | 12.78 | -14.34 | 0.0 | 10.73 | -10.95 | 0.0 | 2.39 | -7.36 | 0.0 | 1.72 | -11.34 | 0.0 | 0.16 | 0.0 | 0.0 | 20.36 | -8.12 | 0.0 | 52.55 | 50.53 | 0.0 | 119.05 | 148.02 | 0.0 | -19.05 | -138.1 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 1.05 | -13.22 | 0.0 | 30.26 | -10.82 | 0.0 | 7.31 | -49.13 | 0.0 | 14.92 | 15.84 | 0.0 | 12.05 | 18.37 | 0.0 | 2.58 | -8.51 | 0.0 | 1.94 | -10.19 | 0.0 | 0.16 | -20.0 | 0.0 | 22.16 | 18.0 | 0.0 | 34.91 | -9.93 | 0.0 | 48.00 | -56.72 | 0.0 | 50.00 | 558.33 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 1.21 | 0.0 | 0.0 | 33.93 | 0.0 | 0.0 | 14.37 | 0.0 | 0.0 | 12.88 | 0.0 | 0.0 | 10.18 | 0.0 | 0.0 | 2.82 | 0.0 | 0.0 | 2.16 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 18.78 | 0.0 | 0.0 | 38.76 | 0.0 | 0.0 | 110.91 | 0.0 | 0.0 | -10.91 | 0.0 | 0.0 | 16.68 | 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) | 9.02 | -25.52 | 31.12 | 2.13 | 14.90 | -13.02 | 3.77 | 31.38 | 14.80 | -29.39 | 12.05 | -28.44 | 18.26 | -30.81 | 11.63 | -29.47 | 0.87 | -7.45 | 20.62 | -18.11 | 83.53 | 28.09 | 100.63 | 23.18 | -0.63 | 0 | 0.17 | -2.41 | 15.69 | -4.68 |
| 2022 (9) | 12.11 | 134.69 | 30.47 | 15.94 | 17.13 | 47.16 | 2.87 | -31.7 | 20.96 | 71.24 | 16.84 | 64.77 | 26.39 | 112.65 | 16.49 | 106.64 | 0.94 | 23.68 | 25.18 | 42.91 | 65.21 | -4.38 | 81.69 | -14.1 | 18.31 | 273.87 | 0.18 | -41.68 | 16.46 | -6.9 |
| 2021 (8) | 5.16 | 42.94 | 26.28 | -16.57 | 11.64 | -12.68 | 4.20 | -16.36 | 12.24 | 7.27 | 10.22 | 9.54 | 12.41 | 36.98 | 7.98 | 22.96 | 0.76 | 13.43 | 17.62 | -3.35 | 68.20 | 36.95 | 95.10 | -18.76 | 4.90 | 0 | 0.30 | -56.76 | 17.68 | 0.57 |
| 2020 (7) | 3.61 | -33.27 | 31.50 | -1.25 | 13.33 | -2.06 | 5.03 | 9.12 | 11.41 | -20.38 | 9.33 | -21.73 | 9.06 | -34.3 | 6.49 | -35.87 | 0.67 | -18.29 | 18.23 | -9.8 | 49.80 | 28.48 | 117.06 | 22.86 | -17.06 | 0 | 0.70 | -28.48 | 17.58 | 0.51 |
| 2019 (6) | 5.41 | 4.24 | 31.90 | 6.12 | 13.61 | 8.36 | 4.61 | 12.8 | 14.33 | 1.63 | 11.92 | 3.03 | 13.79 | -3.7 | 10.12 | -2.79 | 0.82 | -7.87 | 20.21 | 6.65 | 38.76 | -8.99 | 95.28 | 6.89 | 5.15 | -52.58 | 0.98 | -46.28 | 17.49 | 5.68 |
| 2018 (5) | 5.19 | -1.33 | 30.06 | -12.34 | 12.56 | -23.13 | 4.08 | 2.94 | 14.10 | -11.99 | 11.57 | -16.46 | 14.32 | -3.05 | 10.41 | -6.55 | 0.89 | 11.25 | 18.95 | -6.88 | 42.59 | 24.46 | 89.14 | -12.47 | 10.86 | 0 | 1.82 | 0 | 16.55 | -2.7 |
| 2017 (4) | 5.26 | -26.33 | 34.29 | -8.9 | 16.34 | -15.51 | 3.97 | 6.6 | 16.02 | -24.47 | 13.85 | -19.66 | 14.77 | -19.73 | 11.14 | -20.88 | 0.80 | -1.23 | 20.35 | -19.5 | 34.22 | 6.5 | 101.83 | 11.83 | -1.83 | 0 | 0.00 | 0 | 17.01 | 4.61 |
| 2016 (3) | 7.14 | 21.84 | 37.64 | 8.88 | 19.34 | 11.09 | 3.72 | 7.48 | 21.21 | 13.67 | 17.24 | 25.66 | 18.40 | 8.49 | 14.08 | 15.32 | 0.81 | -7.95 | 25.28 | 11.41 | 32.13 | 7.06 | 91.06 | -2.28 | 8.94 | 31.13 | 0.00 | 0 | 16.26 | 15.16 |
| 2015 (2) | 5.86 | 3.17 | 34.57 | 4.88 | 17.41 | 3.57 | 3.46 | 4.61 | 18.66 | -2.0 | 13.72 | -3.24 | 16.96 | -25.22 | 12.21 | -9.15 | 0.88 | -4.35 | 22.69 | -2.41 | 30.01 | -47.73 | 93.18 | 5.58 | 6.82 | -41.93 | 0.00 | 0 | 14.12 | -5.74 |
| 2014 (1) | 5.68 | 3.09 | 32.96 | 0 | 16.81 | 0 | 3.31 | -1.8 | 19.04 | 0 | 14.18 | 0 | 22.68 | 0 | 13.44 | 0 | 0.92 | -3.16 | 23.25 | 8.09 | 57.41 | -40.62 | 88.26 | -16.24 | 11.74 | 0 | 0.00 | 0 | 14.98 | 13.06 |
