- 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) | 1.03 | -63.35 | -70.06 | 47.74 | 11.67 | 2.38 | 25.31 | 84.61 | 17.72 | 12.62 | -58.06 | -68.28 | 8.12 | -66.15 | -76.02 | 1.11 | -63.0 | -71.09 | 0.83 | -64.38 | -69.49 | 0.10 | 0.0 | 25.0 | 15.99 | -53.5 | -65.05 | 37.93 | 2.29 | 3.95 | 201.29 | 343.09 | 272.62 | -100.65 | -284.43 | -318.89 | 21.93 | -20.08 | -5.64 |
| 24Q2 (19) | 2.81 | -33.73 | 54.4 | 42.75 | 9.67 | 20.76 | 13.71 | 18.29 | 5.46 | 30.09 | -32.2 | 20.46 | 23.99 | -37.74 | 72.22 | 3.00 | -31.66 | 55.44 | 2.33 | -33.81 | 80.62 | 0.10 | 11.11 | 11.11 | 34.39 | -30.44 | 13.8 | 37.08 | 59.76 | -22.38 | 45.43 | 74.08 | -12.39 | 54.57 | -26.16 | 14.14 | 27.44 | 0.15 | 36.11 |
| 24Q1 (18) | 4.24 | 241.94 | 1.68 | 38.98 | -8.22 | -17.5 | 11.59 | -32.58 | -56.8 | 44.38 | 235.96 | 39.3 | 38.53 | 182.27 | 47.74 | 4.39 | 172.67 | 1.15 | 3.52 | 181.6 | 13.55 | 0.09 | 0.0 | -25.0 | 49.44 | 166.52 | 37.18 | 23.21 | -18.79 | -57.75 | 26.10 | -79.97 | -69.04 | 73.90 | 344.05 | 370.3 | 27.40 | 10.26 | 27.62 |
| 23Q4 (17) | 1.24 | -63.95 | -70.55 | 42.47 | -8.92 | -19.26 | 17.19 | -20.05 | -35.81 | 13.21 | -66.8 | -50.95 | 13.65 | -59.69 | -39.39 | 1.61 | -58.07 | -61.58 | 1.25 | -54.04 | -61.06 | 0.09 | 12.5 | -35.71 | 18.55 | -59.45 | -39.54 | 28.58 | -21.68 | -1.75 | 130.28 | 141.17 | 31.09 | -30.28 | -165.86 | -5025.82 | 24.85 | 6.93 | 3.41 |
| 23Q3 (16) | 3.44 | 89.01 | -59.62 | 46.63 | 31.72 | -10.57 | 21.50 | 65.38 | -45.35 | 39.79 | 59.29 | -6.97 | 33.86 | 143.07 | -0.53 | 3.84 | 98.96 | -57.62 | 2.72 | 110.85 | -55.63 | 0.08 | -11.11 | -55.56 | 45.75 | 51.39 | 0.53 | 36.49 | -23.61 | 8.6 | 54.02 | 4.18 | -41.28 | 45.98 | -3.83 | 474.19 | 23.24 | 15.28 | 55.76 |
| 23Q2 (15) | 1.82 | -56.35 | -89.13 | 35.40 | -25.08 | -48.06 | 13.00 | -51.55 | -76.55 | 24.98 | -21.59 | -55.73 | 13.93 | -46.59 | -68.63 | 1.93 | -55.53 | -90.77 | 1.29 | -58.39 | -89.87 | 0.09 | -25.0 | -68.97 | 30.22 | -16.15 | -47.89 | 47.77 | -13.03 | -26.39 | 51.85 | -38.48 | -47.22 | 47.81 | 204.25 | 2618.61 | 20.16 | -6.1 | 50.22 |
| 23Q1 (14) | 4.17 | -0.95 | -37.67 | 47.25 | -10.17 | -12.86 | 26.83 | 0.19 | -31.5 | 31.86 | 18.31 | -29.42 | 26.08 | 15.81 | -26.33 | 4.34 | 3.58 | -50.34 | 3.10 | -3.43 | -47.01 | 0.12 | -14.29 | -25.0 | 36.04 | 17.47 | -25.21 | 54.93 | 88.83 | -14.04 | 84.29 | -15.19 | -2.87 | 15.71 | 2456.19 | 18.81 | 21.47 | -10.65 | 42.94 |
| 22Q4 (13) | 4.21 | -50.59 | 37.58 | 52.60 | 0.88 | 36.34 | 26.78 | -31.93 | 38.33 | 26.93 | -37.04 | -0.22 | 22.52 | -33.84 | 4.4 | 4.19 | -53.75 | 6.08 | 3.21 | -47.63 | 15.05 | 0.14 | -22.22 | 7.69 | 30.68 | -32.59 | -0.65 | 29.09 | -13.42 | -23.1 | 99.39 | 8.04 | 38.76 | 0.61 | -92.32 | -97.81 | 24.03 | 61.06 | 6.05 |
| 22Q3 (12) | 8.52 | -49.13 | 34.81 | 52.14 | -23.5 | -5.95 | 39.34 | -29.04 | -1.67 | 42.77 | -24.21 | 11.85 | 34.04 | -23.35 | 16.5 | 9.06 | -56.69 | 11.17 | 6.13 | -51.88 | 4.25 | 0.18 | -37.93 | -10.0 | 45.51 | -21.52 | 11.46 | 33.60 | -48.23 | -29.78 | 91.99 | -6.36 | -12.06 | 8.01 | 355.33 | 273.79 | 14.92 | 11.18 | 1.63 |
| 22Q2 (11) | 16.75 | 150.37 | 147.78 | 68.16 | 25.71 | 25.48 | 55.44 | 41.54 | 46.24 | 56.43 | 25.01 | 22.14 | 44.41 | 25.45 | 15.41 | 20.92 | 139.36 | 139.91 | 12.74 | 117.78 | 92.16 | 0.29 | 81.25 | 70.59 | 57.99 | 20.34 | 16.54 | 64.90 | 1.56 | 115.83 | 98.24 | 13.22 | 19.71 | 1.76 | -86.7 | -90.19 | 13.42 | -10.65 | -17.01 |
| 22Q1 (10) | 6.69 | 118.63 | 27.67 | 54.22 | 40.54 | 20.57 | 39.17 | 102.32 | 48.99 | 45.14 | 67.25 | 7.71 | 35.40 | 64.12 | -2.67 | 8.74 | 121.27 | 22.24 | 5.85 | 109.68 | 11.01 | 0.16 | 23.08 | 14.29 | 48.19 | 56.06 | 3.86 | 63.90 | 68.91 | 88.61 | 86.77 | 21.16 | 38.25 | 13.23 | -52.95 | -64.48 | 15.02 | -33.72 | -18.01 |
| 21Q4 (9) | 3.06 | -51.58 | -3.47 | 38.58 | -30.41 | -9.18 | 19.36 | -51.61 | -28.59 | 26.99 | -29.42 | 1.09 | 21.57 | -26.18 | 4.35 | 3.95 | -51.53 | -12.22 | 2.79 | -52.55 | -14.42 | 0.13 | -35.0 | -18.75 | 30.88 | -24.37 | -0.55 | 37.83 | -20.94 | -1.69 | 71.62 | -31.53 | -29.51 | 28.11 | 710.02 | 1856.76 | 22.66 | 54.36 | 27.3 |
| 21Q3 (8) | 6.32 | -6.51 | 61.22 | 55.44 | 2.06 | 18.66 | 40.01 | 5.54 | 27.54 | 38.24 | -17.23 | 23.79 | 29.22 | -24.06 | 17.54 | 8.15 | -6.54 | 32.95 | 5.88 | -11.31 | 41.01 | 0.20 | 17.65 | 17.65 | 40.83 | -17.95 | 16.99 | 47.85 | 59.13 | 21.6 | 104.61 | 27.47 | 3.04 | -4.61 | -125.69 | -203.45 | 14.68 | -9.21 | -5.96 |
| 21Q2 (7) | 6.76 | 29.01 | 12.67 | 54.32 | 20.79 | -6.15 | 37.91 | 44.2 | -9.95 | 46.20 | 10.24 | 11.7 | 38.48 | 5.8 | 22.16 | 8.72 | 21.96 | -14.76 | 6.63 | 25.81 | 4.74 | 0.17 | 21.43 | -15.0 | 49.76 | 7.24 | 10.63 | 30.07 | -11.25 | -46.97 | 82.06 | 30.75 | -19.39 | 17.94 | -51.83 | 1094.73 | 16.17 | -11.74 | 0 |
| 21Q1 (6) | 5.24 | 65.3 | 26.27 | 44.97 | 5.86 | -12.34 | 26.29 | -3.02 | -16.7 | 41.91 | 56.97 | 24.1 | 36.37 | 75.96 | 25.33 | 7.15 | 58.89 | -8.22 | 5.27 | 61.66 | 14.81 | 0.14 | -12.5 | -12.5 | 46.40 | 49.44 | 20.43 | 33.88 | -11.95 | -50.91 | 62.77 | -38.22 | -32.83 | 37.23 | 2427.13 | 467.82 | 18.32 | 2.92 | -11.54 |
| 20Q4 (5) | 3.17 | -19.13 | 5.32 | 42.48 | -9.08 | -6.18 | 27.11 | -13.58 | 15.66 | 26.70 | -13.56 | 10.01 | 20.67 | -16.85 | -6.43 | 4.50 | -26.59 | -21.87 | 3.26 | -21.82 | -2.4 | 0.16 | -5.88 | 6.67 | 31.05 | -11.03 | 5.01 | 38.48 | -2.21 | -47.66 | 101.60 | 0.08 | 5.01 | -1.60 | -5.37 | -144.32 | 17.80 | 14.03 | -8.2 |
| 20Q3 (4) | 3.92 | -34.67 | 0.0 | 46.72 | -19.28 | 0.0 | 31.37 | -25.49 | 0.0 | 30.89 | -25.31 | 0.0 | 24.86 | -21.08 | 0.0 | 6.13 | -40.08 | 0.0 | 4.17 | -34.12 | 0.0 | 0.17 | -15.0 | 0.0 | 34.90 | -22.41 | 0.0 | 39.35 | -30.6 | 0.0 | 101.52 | -0.28 | 0.0 | -1.52 | 15.79 | 0.0 | 15.61 | 0 | 0.0 |
| 20Q2 (3) | 6.00 | 44.58 | 0.0 | 57.88 | 12.83 | 0.0 | 42.10 | 33.4 | 0.0 | 41.36 | 22.48 | 0.0 | 31.50 | 8.55 | 0.0 | 10.23 | 31.32 | 0.0 | 6.33 | 37.91 | 0.0 | 0.20 | 25.0 | 0.0 | 44.98 | 16.74 | 0.0 | 56.70 | -17.84 | 0.0 | 101.80 | 8.95 | 0.0 | -1.80 | -127.5 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 4.15 | 37.87 | 0.0 | 51.30 | 13.3 | 0.0 | 31.56 | 34.64 | 0.0 | 33.77 | 39.14 | 0.0 | 29.02 | 31.37 | 0.0 | 7.79 | 35.24 | 0.0 | 4.59 | 37.43 | 0.0 | 0.16 | 6.67 | 0.0 | 38.53 | 30.3 | 0.0 | 69.01 | -6.13 | 0.0 | 93.44 | -3.42 | 0.0 | 6.56 | 81.64 | 0.0 | 20.71 | 6.81 | 0.0 |
| 19Q4 (1) | 3.01 | 0.0 | 0.0 | 45.28 | 0.0 | 0.0 | 23.44 | 0.0 | 0.0 | 24.27 | 0.0 | 0.0 | 22.09 | 0.0 | 0.0 | 5.76 | 0.0 | 0.0 | 3.34 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 29.57 | 0.0 | 0.0 | 73.52 | 0.0 | 0.0 | 96.75 | 0.0 | 0.0 | 3.61 | 0.0 | 0.0 | 19.39 | 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) | 10.67 | -70.39 | 43.12 | -26.48 | 20.14 | -53.17 | 4.70 | 99.39 | 27.62 | -39.14 | 21.90 | -39.22 | 10.94 | -72.2 | 8.57 | -71.15 | 0.39 | -52.44 | 32.70 | -31.78 | 28.58 | -1.75 | 72.89 | -23.1 | 27.11 | 419.46 | 0.05 | 8.37 | 22.27 | 38.41 |
| 2022 (9) | 36.03 | 68.76 | 58.65 | 18.68 | 43.01 | 33.28 | 2.36 | -29.12 | 45.38 | 17.32 | 36.03 | 14.45 | 39.35 | 37.2 | 29.71 | 42.63 | 0.82 | 24.24 | 47.93 | 13.58 | 29.09 | -23.1 | 94.78 | 13.65 | 5.22 | -68.56 | 0.05 | -30.1 | 16.09 | -8.06 |
| 2021 (8) | 21.35 | 25.0 | 49.42 | -1.14 | 32.27 | -3.87 | 3.33 | -14.61 | 38.68 | 15.12 | 31.48 | 17.81 | 28.68 | 1.2 | 20.83 | 11.69 | 0.66 | -4.35 | 42.20 | 11.79 | 37.83 | -1.69 | 83.40 | -16.52 | 16.60 | 16367.52 | 0.07 | 22.0 | 17.50 | 1.74 |
| 2020 (7) | 17.08 | 112.7 | 49.99 | 13.05 | 33.57 | 73.04 | 3.90 | -22.12 | 33.60 | 66.92 | 26.72 | 62.63 | 28.34 | 77.79 | 18.65 | 105.17 | 0.69 | 27.78 | 37.75 | 46.26 | 38.48 | -47.66 | 99.90 | 3.63 | 0.10 | -97.2 | 0.05 | -14.64 | 17.20 | -19.1 |
| 2019 (6) | 8.03 | -27.33 | 44.22 | -2.83 | 19.40 | -14.54 | 5.00 | 16.29 | 20.13 | -20.31 | 16.43 | -20.55 | 15.94 | -36.16 | 9.09 | -32.77 | 0.54 | -15.62 | 25.81 | -14.93 | 73.52 | -15.77 | 96.40 | 7.24 | 3.60 | -64.69 | 0.06 | -3.74 | 21.26 | 8.25 |
| 2018 (5) | 11.05 | 103.5 | 45.51 | 4.62 | 22.70 | 19.79 | 4.30 | -28.05 | 25.26 | 37.96 | 20.68 | 52.28 | 24.97 | 71.97 | 13.52 | 59.81 | 0.64 | 6.67 | 30.34 | 21.26 | 87.28 | -3.86 | 89.89 | -13.23 | 10.20 | 0 | 0.07 | 0 | 19.64 | 1.5 |
| 2017 (4) | 5.43 | -17.23 | 43.50 | -6.23 | 18.95 | -5.06 | 5.98 | -1.45 | 18.31 | -5.76 | 13.58 | -14.81 | 14.52 | -13.37 | 8.46 | -21.81 | 0.60 | -10.45 | 25.02 | -3.58 | 90.78 | 40.2 | 103.59 | 0.79 | -3.43 | 0 | 0.00 | 0 | 19.35 | -7.37 |
| 2016 (3) | 6.56 | 1.71 | 46.39 | 0.67 | 19.96 | 12.51 | 6.07 | -1.24 | 19.43 | 1.73 | 15.94 | -3.8 | 16.76 | 3.65 | 10.82 | 1.22 | 0.67 | 4.69 | 25.95 | 0.35 | 64.75 | 32.49 | 102.78 | 10.68 | -2.78 | 0 | 0.00 | 0 | 20.89 | -7.4 |
| 2015 (2) | 6.45 | -2.42 | 46.08 | 4.11 | 17.74 | -5.79 | 6.14 | 1.22 | 19.10 | -4.4 | 16.57 | 1.22 | 16.17 | -9.87 | 10.69 | -8.4 | 0.64 | -9.86 | 25.86 | -3.0 | 48.87 | -17.24 | 92.86 | -1.47 | 7.14 | 24.14 | 0.00 | 0 | 22.56 | 8.31 |
| 2014 (1) | 6.61 | 21.96 | 44.26 | 0 | 18.83 | 0 | 6.07 | -10.94 | 19.98 | 0 | 16.37 | 0 | 17.94 | 0 | 11.67 | 0 | 0.71 | -4.05 | 26.66 | 13.98 | 59.05 | 15.78 | 94.25 | 46.34 | 5.75 | -83.71 | 0.00 | 0 | 20.83 | -1.84 |
