- 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) | 3.14 | -13.02 | -17.15 | 54.78 | 0.44 | -1.67 | 33.37 | 0.57 | 0.33 | 41.08 | -16.39 | -28.88 | 33.16 | -14.23 | -29.39 | 2.56 | -15.51 | -19.24 | 2.34 | -11.36 | -18.75 | 0.07 | 0.0 | 16.67 | 50.86 | -14.02 | -27.15 | 9.28 | -8.21 | -11.79 | 81.09 | 20.33 | 40.68 | 18.59 | -42.51 | -56.11 | 25.43 | -2.34 | -11.27 |
| 24Q2 (19) | 3.61 | -21.35 | 13.52 | 54.54 | 0.94 | -3.06 | 33.18 | -2.04 | -4.6 | 49.13 | -22.45 | 2.78 | 38.66 | -24.39 | 6.62 | 3.03 | -20.68 | 10.58 | 2.64 | -20.48 | 10.46 | 0.07 | 16.67 | 0.0 | 59.15 | -20.1 | 0.2 | 10.11 | -50.39 | -1.08 | 67.39 | 25.94 | -7.2 | 32.34 | -30.45 | 19.4 | 26.04 | -3.66 | -0.76 |
| 24Q1 (18) | 4.59 | 208.05 | 88.11 | 54.03 | -2.37 | -1.06 | 33.87 | -2.76 | 6.38 | 63.35 | 203.4 | 72.43 | 51.13 | 191.51 | 71.69 | 3.82 | 213.11 | 85.44 | 3.32 | 196.43 | 85.47 | 0.06 | 0.0 | 0.0 | 74.03 | 129.48 | 50.35 | 20.38 | 95.59 | 2.0 | 53.51 | -67.85 | -38.3 | 46.49 | 169.98 | 250.14 | 27.03 | 10.64 | -8.87 |
| 23Q4 (17) | 1.49 | -60.69 | -52.7 | 55.34 | -0.66 | 6.44 | 34.83 | 4.72 | -0.09 | 20.88 | -63.85 | -36.57 | 17.54 | -62.65 | -37.98 | 1.22 | -61.51 | -51.97 | 1.12 | -61.11 | -50.88 | 0.06 | 0.0 | -25.0 | 32.26 | -53.79 | -24.0 | 10.42 | -0.95 | -14.94 | 166.43 | 188.74 | 57.06 | -66.43 | -256.83 | -1013.74 | 24.43 | -14.76 | 15.02 |
| 23Q3 (16) | 3.79 | 19.18 | 1.07 | 55.71 | -0.98 | 4.5 | 33.26 | -4.37 | -7.28 | 57.76 | 20.84 | 28.41 | 46.96 | 29.51 | 27.68 | 3.17 | 15.69 | -0.94 | 2.88 | 20.5 | 0.0 | 0.06 | -14.29 | -25.0 | 69.81 | 18.26 | 24.42 | 10.52 | 2.94 | -10.47 | 57.64 | -20.63 | -27.6 | 42.36 | 56.4 | 110.65 | 28.66 | 9.22 | 28.64 |
| 23Q2 (15) | 3.18 | 30.33 | 16.48 | 56.26 | 3.02 | 14.49 | 34.78 | 9.23 | 8.76 | 47.80 | 30.1 | 44.19 | 36.26 | 21.76 | 51.78 | 2.74 | 33.01 | 8.73 | 2.39 | 33.52 | 10.14 | 0.07 | 16.67 | -22.22 | 59.03 | 19.88 | 33.79 | 10.22 | -48.85 | -11.28 | 72.62 | -16.26 | -24.81 | 27.08 | 103.97 | 693.54 | 26.24 | -11.53 | 10.39 |
| 23Q1 (14) | 2.44 | -22.54 | -51.49 | 54.61 | 5.04 | 12.09 | 31.84 | -8.66 | -0.66 | 36.74 | 11.6 | -28.73 | 29.78 | 5.3 | -30.13 | 2.06 | -18.9 | -57.17 | 1.79 | -21.49 | -50.0 | 0.06 | -25.0 | -25.0 | 49.24 | 16.0 | -22.92 | 19.98 | 63.1 | -16.65 | 86.72 | -18.16 | 39.51 | 13.28 | 322.6 | -64.91 | 29.66 | 39.64 | 43.01 |
| 22Q4 (13) | 3.15 | -16.0 | -5.97 | 51.99 | -2.48 | 4.08 | 34.86 | -2.82 | 3.35 | 32.92 | -26.81 | -3.35 | 28.28 | -23.11 | -1.57 | 2.54 | -20.63 | -20.87 | 2.28 | -20.83 | 2.24 | 0.08 | 0.0 | 0.0 | 42.45 | -24.35 | -9.22 | 12.25 | 4.26 | -74.68 | 105.96 | 33.09 | 7.08 | -5.96 | -129.66 | -674.62 | 21.24 | -4.67 | 9.32 |
| 22Q3 (12) | 3.75 | 37.36 | 22.15 | 53.31 | 8.49 | 8.13 | 35.87 | 12.16 | 11.61 | 44.98 | 35.69 | 33.08 | 36.78 | 53.96 | 28.11 | 3.20 | 26.98 | 8.47 | 2.88 | 32.72 | 33.33 | 0.08 | -11.11 | 14.29 | 56.11 | 27.18 | 19.26 | 11.75 | 2.0 | -74.18 | 79.62 | -17.57 | -16.26 | 20.11 | 489.18 | 308.36 | 22.28 | -6.27 | 8.16 |
| 22Q2 (11) | 2.73 | -45.73 | 1.87 | 49.14 | 0.86 | 0.2 | 31.98 | -0.22 | -4.25 | 33.15 | -35.69 | 16.03 | 23.89 | -43.95 | 7.95 | 2.52 | -47.61 | -1.95 | 2.17 | -39.39 | 10.71 | 0.09 | 12.5 | 0.0 | 44.12 | -30.93 | 9.61 | 11.52 | -51.94 | -65.46 | 96.59 | 55.38 | -17.49 | 3.41 | -90.98 | 120.0 | 23.77 | 14.61 | 32.5 |
| 22Q1 (10) | 5.03 | 50.15 | 84.25 | 48.72 | -2.46 | -3.66 | 32.05 | -4.98 | -3.87 | 51.55 | 51.35 | 59.94 | 42.62 | 48.35 | 66.74 | 4.81 | 49.84 | 78.81 | 3.58 | 60.54 | 73.79 | 0.08 | 0.0 | 0.0 | 63.88 | 36.61 | 44.43 | 23.97 | -50.45 | -29.97 | 62.16 | -37.19 | -39.99 | 37.84 | 3545.05 | 1155.26 | 20.74 | 6.74 | -3.53 |
| 21Q4 (9) | 3.35 | 9.12 | -0.89 | 49.95 | 1.32 | 3.87 | 33.73 | 4.95 | 4.04 | 34.06 | 0.77 | 4.1 | 28.73 | 0.07 | -4.52 | 3.21 | 8.81 | -5.03 | 2.23 | 3.24 | -15.21 | 0.08 | 14.29 | -11.11 | 46.76 | -0.62 | 5.41 | 48.38 | 6.31 | 65.68 | 98.96 | 4.09 | -0.28 | 1.04 | -78.92 | 37.02 | 19.43 | -5.68 | -2.75 |
| 21Q3 (8) | 3.07 | 14.55 | 14.55 | 49.30 | 0.53 | 2.22 | 32.14 | -3.77 | 1.74 | 33.80 | 18.31 | 0.78 | 28.71 | 29.73 | 5.44 | 2.95 | 14.79 | 6.12 | 2.16 | 10.2 | -3.57 | 0.07 | -22.22 | -12.5 | 47.05 | 16.89 | 1.44 | 45.51 | 36.46 | 49.26 | 95.08 | -18.78 | 0.94 | 4.92 | 128.86 | -15.23 | 20.60 | 14.83 | -1.29 |
| 21Q2 (7) | 2.68 | -1.83 | -24.29 | 49.04 | -3.03 | 7.17 | 33.40 | 0.18 | 20.32 | 28.57 | -11.36 | 2.33 | 22.13 | -13.42 | 16.17 | 2.57 | -4.46 | -28.61 | 1.96 | -4.85 | -34.23 | 0.09 | 12.5 | -40.0 | 40.25 | -9.0 | -5.67 | 33.35 | -2.57 | 14.96 | 117.06 | 13.01 | 17.7 | -17.06 | -375.88 | -3239.68 | 17.94 | -16.56 | -25.71 |
| 21Q1 (6) | 2.73 | -19.23 | 0 | 50.57 | 5.16 | 0 | 33.34 | 2.84 | 0 | 32.23 | -1.5 | 0 | 25.56 | -15.05 | 0 | 2.69 | -20.41 | 0 | 2.06 | -21.67 | 0 | 0.08 | -11.11 | 0 | 44.23 | -0.29 | 0 | 34.23 | 17.23 | 0 | 103.59 | 4.38 | 0 | -3.59 | -573.31 | 0 | 21.50 | 7.61 | 0 |
| 20Q4 (5) | 3.38 | 26.12 | 0 | 48.09 | -0.29 | 0 | 32.42 | 2.63 | 0 | 32.72 | -2.44 | 0 | 30.09 | 10.5 | 0 | 3.38 | 21.58 | 0 | 2.63 | 17.41 | 0 | 0.09 | 12.5 | 0 | 44.36 | -4.36 | 0 | 29.20 | -4.23 | 0 | 99.24 | 5.36 | 0 | 0.76 | -86.96 | 0 | 19.98 | -4.26 | 0 |
| 20Q3 (4) | 2.68 | -24.29 | 0.0 | 48.23 | 5.4 | 0.0 | 31.59 | 13.8 | 0.0 | 33.54 | 20.13 | 0.0 | 27.23 | 42.94 | 0.0 | 2.78 | -22.78 | 0.0 | 2.24 | -24.83 | 0.0 | 0.08 | -46.67 | 0.0 | 46.38 | 8.69 | 0.0 | 30.49 | 5.1 | 0.0 | 94.19 | -5.29 | 0.0 | 5.81 | 968.88 | 0.0 | 20.87 | -13.58 | 0.0 |
| 20Q2 (3) | 3.54 | 0 | 0.0 | 45.76 | 0 | 0.0 | 27.76 | 0 | 0.0 | 27.92 | 0 | 0.0 | 19.05 | 0 | 0.0 | 3.60 | 0 | 0.0 | 2.98 | 0 | 0.0 | 0.15 | 0 | 0.0 | 42.67 | 0 | 0.0 | 29.01 | 0 | 0.0 | 99.46 | 0 | 0.0 | 0.54 | 0 | 0.0 | 24.15 | 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) | 10.89 | -24.74 | 55.49 | 9.34 | 33.71 | 0.18 | 11.50 | 8.07 | 40.66 | 0.32 | 32.50 | -0.82 | 8.89 | -30.71 | 8.03 | -20.42 | 0.25 | -19.35 | 52.44 | 1.79 | 10.42 | -14.94 | 82.89 | -0.16 | 17.11 | 0.77 | 2.06 | 0.92 | 27.20 | 23.58 |
| 2022 (9) | 14.47 | 22.32 | 50.75 | 2.11 | 33.65 | 1.45 | 10.64 | -9.74 | 40.53 | 26.3 | 32.77 | 25.03 | 12.83 | 11.86 | 10.09 | 20.12 | 0.31 | 0.0 | 51.52 | 15.72 | 12.25 | -74.68 | 83.02 | -19.72 | 16.98 | 0 | 2.04 | 4.43 | 22.01 | 11.16 |
| 2021 (8) | 11.83 | 23.23 | 49.70 | 5.63 | 33.17 | 10.38 | 11.79 | -9.44 | 32.09 | 4.49 | 26.21 | 8.08 | 11.47 | 18.98 | 8.40 | 6.46 | 0.31 | -3.13 | 44.52 | 0.98 | 48.38 | 65.68 | 103.41 | 5.71 | -3.31 | 0 | 1.95 | -17.71 | 19.80 | -10.57 |
| 2020 (7) | 9.60 | -4.76 | 47.05 | -6.74 | 30.05 | -9.16 | 13.02 | -16.13 | 30.71 | -7.25 | 24.25 | -3.27 | 9.64 | -12.04 | 7.89 | -19.41 | 0.32 | -17.95 | 44.09 | -9.89 | 29.20 | 65.91 | 97.82 | -1.97 | 2.18 | 2013.29 | 2.37 | 0 | 22.14 | -0.18 |
| 2019 (6) | 10.08 | -19.04 | 50.45 | 5.37 | 33.08 | 2.35 | 15.52 | 10.51 | 33.11 | -5.13 | 25.07 | -3.91 | 10.96 | -27.27 | 9.79 | -20.92 | 0.39 | -17.02 | 48.93 | -1.09 | 17.60 | 124.49 | 99.79 | 7.78 | 0.10 | -98.61 | 0.00 | 0 | 22.18 | 16.8 |
| 2018 (5) | 12.45 | 22.78 | 47.88 | 3.03 | 32.32 | 4.46 | 14.05 | -5.65 | 34.90 | 12.18 | 26.09 | 7.85 | 15.07 | 8.26 | 12.38 | 17.23 | 0.47 | 9.3 | 49.47 | 6.39 | 7.84 | -81.09 | 92.59 | -6.92 | 7.41 | 1308.89 | 0.00 | 0 | 18.99 | -2.62 |
| 2017 (4) | 10.14 | 0 | 46.47 | 0 | 30.94 | 0 | 14.89 | 0 | 31.11 | 0 | 24.19 | 0 | 13.92 | 0 | 10.56 | 0 | 0.43 | 0 | 46.50 | 0 | 41.45 | 62.93 | 99.47 | 0 | 0.53 | 0 | 0.00 | 0 | 19.50 | 0 |
| 2016 (3) | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 25.44 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 |
