- 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) | 0.67 | -50.0 | -48.46 | 28.51 | -14.97 | -11.21 | 14.13 | -42.72 | -37.28 | 17.54 | -33.16 | -33.43 | 14.03 | -29.99 | -33.44 | 2.88 | -51.43 | -55.21 | 1.67 | -48.46 | -49.39 | 0.11 | -31.25 | -26.67 | 25.81 | -18.19 | -19.89 | 76.15 | -16.94 | -22.92 | 79.59 | -15.48 | -6.65 | 18.37 | 215.31 | 24.64 | 18.75 | 38.99 | 29.31 |
| 24Q2 (19) | 1.34 | 42.55 | 168.0 | 33.53 | 1.21 | 30.93 | 24.67 | 17.64 | 55.94 | 26.24 | 5.21 | 97.59 | 20.04 | 0.45 | 106.6 | 5.93 | 38.55 | 131.64 | 3.24 | 36.71 | 136.5 | 0.16 | 45.45 | 23.08 | 31.55 | -2.89 | 56.73 | 91.68 | 6.75 | -12.18 | 94.17 | 12.04 | -21.52 | 5.83 | -63.46 | 129.13 | 13.49 | -25.14 | -9.77 |
| 24Q1 (18) | 0.94 | 28.77 | 347.62 | 33.13 | 1.69 | 62.08 | 20.97 | 1.8 | 228.17 | 24.94 | 42.76 | 283.1 | 19.95 | 41.29 | 283.65 | 4.28 | 24.42 | 303.77 | 2.37 | 26.74 | 276.19 | 0.11 | -8.33 | 10.0 | 32.49 | 32.61 | 111.25 | 85.88 | -5.93 | -16.17 | 84.06 | -28.14 | -15.94 | 15.94 | 193.88 | 0 | 18.02 | 0.67 | 13.05 |
| 23Q4 (17) | 0.73 | -43.85 | 217.39 | 32.58 | 1.46 | 80.6 | 20.60 | -8.57 | 175.4 | 17.47 | -33.7 | 264.72 | 14.12 | -33.02 | 162.94 | 3.44 | -46.5 | 196.55 | 1.87 | -43.33 | 192.19 | 0.12 | -20.0 | 20.0 | 24.50 | -23.96 | 101.65 | 91.29 | -7.59 | -16.86 | 116.98 | 37.2 | -22.01 | -16.98 | -215.23 | 70.89 | 17.90 | 23.45 | 16.54 |
| 23Q3 (16) | 1.30 | 160.0 | 116.67 | 32.11 | 25.38 | 43.99 | 22.53 | 42.41 | 76.71 | 26.35 | 98.42 | 62.45 | 21.08 | 117.32 | 62.4 | 6.43 | 151.17 | 105.43 | 3.30 | 140.88 | 120.0 | 0.15 | 15.38 | 36.36 | 32.22 | 60.06 | 39.78 | 98.79 | -5.36 | -12.9 | 85.26 | -28.95 | 10.34 | 14.74 | 173.68 | -27.95 | 14.50 | -3.01 | -1.16 |
| 23Q2 (15) | 0.50 | 138.1 | 8.7 | 25.61 | 25.29 | 13.37 | 15.82 | 147.57 | 16.84 | 13.28 | 103.99 | -3.84 | 9.70 | 86.54 | 0.31 | 2.56 | 141.51 | 4.92 | 1.37 | 117.46 | 17.09 | 0.13 | 30.0 | 18.18 | 20.13 | 30.88 | -0.74 | 104.39 | 1.89 | -18.49 | 120.00 | 20.0 | 23.16 | -20.00 | 0 | -880.0 | 14.95 | -6.21 | 3.17 |
| 23Q1 (14) | 0.21 | -8.7 | -67.19 | 20.44 | 13.3 | 7.35 | 6.39 | -14.57 | -40.5 | 6.51 | 35.91 | -56.01 | 5.20 | -3.17 | -56.08 | 1.06 | -8.62 | -68.91 | 0.63 | -1.56 | -60.13 | 0.10 | 0.0 | -23.08 | 15.38 | 26.58 | -23.6 | 102.45 | -6.69 | -15.2 | 100.00 | -33.33 | 38.24 | 0.00 | 100.0 | -100.0 | 15.94 | 3.78 | 22.15 |
| 22Q4 (13) | 0.23 | -61.67 | -41.03 | 18.04 | -19.1 | 16.61 | 7.48 | -41.33 | 6.1 | 4.79 | -70.47 | -37.22 | 5.37 | -58.63 | -16.22 | 1.16 | -62.94 | -45.79 | 0.64 | -57.33 | -35.35 | 0.10 | -9.09 | -28.57 | 12.15 | -47.29 | -3.03 | 109.80 | -3.19 | -14.14 | 150.00 | 94.12 | 62.0 | -58.33 | -385.19 | -887.5 | 15.36 | 4.7 | 16.72 |
| 22Q3 (12) | 0.60 | 30.43 | -31.82 | 22.30 | -1.28 | 1.0 | 12.75 | -5.83 | -23.7 | 16.22 | 17.45 | -0.73 | 12.98 | 34.23 | 1.56 | 3.13 | 28.28 | -35.33 | 1.50 | 28.21 | -30.88 | 0.11 | 0.0 | -31.25 | 23.05 | 13.66 | 11.89 | 113.42 | -11.44 | -14.91 | 77.27 | -20.69 | -23.88 | 20.45 | 697.73 | 1450.0 | 14.67 | 1.24 | 53.77 |
| 22Q2 (11) | 0.46 | -28.12 | -28.12 | 22.59 | 18.64 | -4.16 | 13.54 | 26.07 | -15.69 | 13.81 | -6.69 | -4.96 | 9.67 | -18.33 | -16.78 | 2.44 | -28.45 | -31.46 | 1.17 | -25.95 | -29.09 | 0.11 | -15.38 | -21.43 | 20.28 | 0.75 | 3.31 | 128.07 | 6.01 | 0.61 | 97.44 | 34.69 | -11.93 | 2.56 | -90.73 | 124.1 | 14.49 | 11.03 | 22.9 |
| 22Q1 (10) | 0.64 | 64.1 | 10.34 | 19.04 | 23.08 | -15.86 | 10.74 | 52.34 | -29.34 | 14.80 | 93.97 | 7.79 | 11.84 | 84.71 | 7.83 | 3.41 | 59.35 | 1.79 | 1.58 | 59.6 | 0.0 | 0.13 | -7.14 | -7.14 | 20.13 | 60.65 | 6.9 | 120.81 | -5.54 | -1.46 | 72.34 | -21.87 | -35.36 | 27.66 | 273.4 | 332.34 | 13.05 | -0.84 | 6.18 |
| 21Q4 (9) | 0.39 | -55.68 | -47.3 | 15.47 | -29.94 | -30.35 | 7.05 | -57.81 | -50.49 | 7.63 | -53.3 | -51.46 | 6.41 | -49.84 | -51.14 | 2.14 | -55.79 | -51.8 | 0.99 | -54.38 | -52.17 | 0.14 | -12.5 | -6.67 | 12.53 | -39.17 | -39.38 | 127.89 | -4.06 | 4.93 | 92.59 | -8.79 | 2.44 | 7.41 | 588.89 | -22.96 | 13.16 | 37.95 | 12.19 |
| 21Q3 (8) | 0.88 | 37.5 | 69.23 | 22.08 | -6.32 | 13.46 | 16.71 | 4.05 | 37.76 | 16.34 | 12.46 | 15.4 | 12.78 | 9.98 | 13.0 | 4.84 | 35.96 | 48.47 | 2.17 | 31.52 | 40.91 | 0.16 | 14.29 | 23.08 | 20.60 | 4.94 | 3.0 | 133.30 | 4.72 | 7.41 | 101.52 | -8.25 | 16.9 | -1.52 | 85.76 | -111.52 | 9.54 | -19.08 | -22.06 |
| 21Q2 (7) | 0.64 | 10.34 | 156.0 | 23.57 | 4.15 | 45.85 | 16.06 | 5.66 | 114.71 | 14.53 | 5.83 | 79.16 | 11.62 | 5.83 | 77.95 | 3.56 | 6.27 | 122.5 | 1.65 | 4.43 | 89.66 | 0.14 | 0.0 | 16.67 | 19.63 | 4.25 | 26.16 | 127.29 | 3.83 | 4.52 | 110.64 | -1.13 | 17.15 | -10.64 | 10.64 | -291.49 | 11.79 | -4.07 | 0 |
| 21Q1 (6) | 0.58 | -21.62 | 1260.0 | 22.63 | 1.89 | 57.7 | 15.20 | 6.74 | 1233.33 | 13.73 | -12.66 | 651.41 | 10.98 | -16.31 | 540.96 | 3.35 | -24.55 | 1057.14 | 1.58 | -23.67 | 8000.0 | 0.14 | -6.67 | 75.0 | 18.83 | -8.9 | 61.91 | 122.60 | 0.59 | 41.49 | 111.90 | 23.81 | 435.71 | -11.90 | -223.81 | -107.14 | 12.29 | 4.77 | -38.12 |
| 20Q4 (5) | 0.74 | 42.31 | 7300.0 | 22.21 | 14.13 | 75.43 | 14.24 | 17.39 | 550.23 | 15.72 | 11.02 | 1704.08 | 13.12 | 16.0 | 3544.44 | 4.44 | 36.2 | 7300.0 | 2.07 | 34.42 | 935.0 | 0.15 | 15.38 | 66.67 | 20.67 | 3.35 | 67.37 | 121.88 | -1.79 | 51.74 | 90.38 | 4.08 | 145.19 | 9.62 | -26.92 | -96.15 | 11.73 | -4.17 | 0 |
| 20Q3 (4) | 0.52 | 108.0 | 0.0 | 19.46 | 20.42 | 0.0 | 12.13 | 62.17 | 0.0 | 14.16 | 74.6 | 0.0 | 11.31 | 73.2 | 0.0 | 3.26 | 103.75 | 0.0 | 1.54 | 77.01 | 0.0 | 0.13 | 8.33 | 0.0 | 20.00 | 28.53 | 0.0 | 124.10 | 1.91 | 0.0 | 86.84 | -8.05 | 0.0 | 13.16 | 136.84 | 0.0 | 12.24 | 0 | 0.0 |
| 20Q2 (3) | 0.25 | 600.0 | 0.0 | 16.16 | 12.61 | 0.0 | 7.48 | 556.14 | 0.0 | 8.11 | 425.7 | 0.0 | 6.53 | 362.25 | 0.0 | 1.60 | 557.14 | 0.0 | 0.87 | 4450.0 | 0.0 | 0.12 | 50.0 | 0.0 | 15.56 | 33.79 | 0.0 | 121.78 | 40.54 | 0.0 | 94.44 | 383.33 | 0.0 | 5.56 | -96.67 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | -0.05 | -600.0 | 0.0 | 14.35 | 13.35 | 0.0 | 1.14 | -47.95 | 0.0 | -2.49 | -154.08 | 0.0 | -2.49 | -791.67 | 0.0 | -0.35 | -683.33 | 0.0 | -0.02 | -110.0 | 0.0 | 0.08 | -11.11 | 0.0 | 11.63 | -5.83 | 0.0 | 86.65 | 7.88 | 0.0 | -33.33 | 83.33 | 0.0 | 166.67 | -33.33 | 0.0 | 19.86 | 0 | 0.0 |
| 19Q4 (1) | 0.01 | 0.0 | 0.0 | 12.66 | 0.0 | 0.0 | 2.19 | 0.0 | 0.0 | -0.98 | 0.0 | 0.0 | 0.36 | 0.0 | 0.0 | 0.06 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 12.35 | 0.0 | 0.0 | 80.32 | 0.0 | 0.0 | -200.00 | 0.0 | 0.0 | 250.00 | 0.0 | 0.0 | 0.00 | 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) | 2.74 | 41.97 | 28.31 | 38.1 | 17.19 | 53.35 | 5.75 | 3.49 | 16.94 | 33.6 | 13.35 | 31.66 | 13.32 | 31.36 | 7.10 | 43.15 | 0.50 | 8.7 | 23.94 | 25.34 | 91.29 | -16.86 | 101.48 | 14.47 | -1.48 | 0 | 0.25 | 0 | 15.75 | 10.06 |
| 2022 (9) | 1.93 | -22.49 | 20.50 | -1.63 | 11.21 | -18.35 | 5.56 | 33.45 | 12.68 | -3.21 | 10.14 | -3.15 | 10.14 | -27.57 | 4.96 | -23.69 | 0.46 | -22.03 | 19.10 | 6.76 | 109.80 | -14.14 | 88.65 | -15.52 | 11.35 | 0 | 0.00 | 0 | 14.31 | 23.36 |
| 2021 (8) | 2.49 | 70.55 | 20.84 | 10.03 | 13.73 | 33.56 | 4.17 | -30.34 | 13.10 | 18.87 | 10.47 | 17.11 | 14.00 | 57.66 | 6.50 | 35.42 | 0.59 | 20.41 | 17.89 | -1.43 | 127.89 | 4.93 | 104.95 | 12.44 | -4.95 | 0 | 0.00 | 0 | 11.60 | -12.78 |
| 2020 (7) | 1.46 | 231.82 | 18.94 | 0.53 | 10.28 | 36.16 | 5.98 | -36.8 | 11.02 | 143.81 | 8.94 | 146.96 | 8.88 | 226.47 | 4.80 | 123.26 | 0.49 | 16.67 | 18.15 | 13.72 | 121.88 | 51.74 | 93.33 | -43.65 | 6.67 | 0 | 0.00 | 0 | 13.30 | -17.44 |
| 2019 (6) | 0.44 | -77.08 | 18.84 | -23.94 | 7.55 | -50.46 | 9.46 | 40.37 | 4.52 | -66.44 | 3.62 | -67.27 | 2.72 | -78.73 | 2.15 | -69.97 | 0.42 | -28.81 | 15.96 | -26.28 | 80.32 | 4.49 | 165.62 | 46.73 | -65.62 | 0 | 0.00 | 0 | 16.11 | 10.72 |
| 2018 (5) | 1.92 | 3.23 | 24.77 | 3.64 | 15.24 | 8.09 | 6.74 | 1.81 | 13.47 | 6.48 | 11.06 | 5.64 | 12.79 | -5.33 | 7.16 | 6.39 | 0.59 | 3.51 | 21.65 | 3.14 | 76.87 | -37.29 | 112.88 | 1.23 | -12.88 | 0 | 0.06 | 0 | 14.55 | 3.34 |
| 2017 (4) | 1.86 | 108.99 | 23.90 | 8.19 | 14.10 | 29.71 | 6.62 | -11.75 | 12.65 | 75.69 | 10.47 | 75.38 | 13.51 | 99.85 | 6.73 | 84.38 | 0.57 | 26.67 | 20.99 | 20.22 | 122.58 | -8.99 | 111.50 | -26.19 | -11.50 | 0 | 0.00 | 0 | 14.08 | -5.12 |
| 2016 (3) | 0.89 | -41.06 | 22.09 | -26.22 | 10.87 | -32.98 | 7.50 | 15.65 | 7.20 | -46.86 | 5.97 | -45.83 | 6.76 | -43.53 | 3.65 | -30.08 | 0.45 | 18.42 | 17.46 | -25.0 | 134.69 | -23.49 | 151.06 | 26.18 | -51.06 | 0 | 0.00 | 0 | 14.84 | -10.76 |
| 2015 (2) | 1.51 | -41.47 | 29.94 | 1.35 | 16.22 | -12.98 | 6.49 | 46.99 | 13.55 | -21.72 | 11.02 | -23.37 | 11.97 | -48.54 | 5.22 | -36.42 | 0.38 | -24.0 | 23.28 | -4.79 | 176.04 | -8.75 | 119.72 | 11.01 | -19.72 | 0 | 0.00 | 0 | 16.63 | 15.49 |
| 2014 (1) | 2.58 | 18.89 | 29.54 | 0 | 18.64 | 0 | 4.41 | -15.94 | 17.31 | 0 | 14.38 | 0 | 23.26 | 0 | 8.21 | 0 | 0.50 | -7.41 | 24.45 | 13.93 | 192.92 | -31.09 | 107.84 | -15.6 | -7.84 | 0 | 0.00 | 0 | 14.40 | 5.34 |
