- 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) | 0.94 | -14.55 | -13.76 | 20.76 | -4.9 | 3.8 | 10.47 | -9.19 | 3.05 | 10.24 | -19.75 | -16.54 | 7.62 | -16.63 | -15.8 | 2.13 | -14.8 | -16.8 | 1.31 | -12.67 | -15.48 | 0.16 | 6.67 | 0.0 | 20.19 | -11.02 | -6.09 | 75.66 | -2.37 | 3.37 | 102.38 | 12.69 | 24.02 | -2.38 | -124.29 | -113.64 | 10.33 | 5.3 | 1.97 |
| 24Q2 (19) | 1.10 | 0.0 | 2.8 | 21.83 | -4.0 | 18.26 | 11.53 | 0.0 | 30.87 | 12.76 | -7.06 | 22.69 | 9.14 | -6.26 | 7.15 | 2.50 | 0.4 | -0.79 | 1.50 | 0.0 | -1.32 | 0.15 | 7.14 | -11.76 | 22.69 | -5.58 | 23.79 | 77.50 | -0.22 | 0.28 | 90.85 | 7.49 | 7.22 | 9.80 | -39.22 | -35.78 | 9.81 | -20.7 | 0.0 |
| 24Q1 (18) | 1.10 | -15.38 | 15.79 | 22.74 | -6.38 | 20.13 | 11.53 | -27.07 | 19.98 | 13.73 | 2.31 | 32.15 | 9.75 | -1.61 | 21.72 | 2.49 | -16.16 | 15.81 | 1.50 | -16.2 | 9.49 | 0.14 | -17.65 | -12.5 | 24.03 | 7.95 | 31.1 | 77.67 | 3.27 | 7.03 | 84.52 | -28.08 | -8.13 | 16.13 | 189.21 | 124.01 | 12.37 | 33.87 | 24.07 |
| 23Q4 (17) | 1.30 | 19.27 | 60.49 | 24.29 | 21.45 | 14.52 | 15.81 | 55.61 | 69.45 | 13.42 | 9.37 | 52.15 | 9.91 | 9.5 | 47.03 | 2.97 | 16.02 | 67.8 | 1.79 | 15.48 | 54.31 | 0.17 | 6.25 | 6.25 | 22.26 | 3.53 | 34.99 | 75.21 | 2.76 | 33.59 | 117.51 | 42.35 | 11.22 | -18.08 | -203.61 | -219.4 | 9.24 | -8.79 | -23.76 |
| 23Q3 (16) | 1.09 | 1.87 | -32.72 | 20.00 | 8.34 | -15.72 | 10.16 | 15.32 | -16.99 | 12.27 | 17.98 | -29.12 | 9.05 | 6.1 | -32.41 | 2.56 | 1.59 | -30.43 | 1.55 | 1.97 | -30.8 | 0.16 | -5.88 | 0.0 | 21.50 | 17.29 | -11.23 | 73.19 | -5.29 | 7.54 | 82.55 | -2.58 | 16.9 | 17.45 | 14.3 | -40.61 | 10.13 | 3.26 | -9.55 |
| 23Q2 (15) | 1.07 | 12.63 | -61.23 | 18.46 | -2.48 | -35.0 | 8.81 | -8.32 | -55.68 | 10.40 | 0.1 | -53.92 | 8.53 | 6.49 | -52.51 | 2.52 | 17.21 | -61.11 | 1.52 | 10.95 | -60.82 | 0.17 | 6.25 | -19.05 | 18.33 | 0.0 | -33.75 | 77.28 | 6.49 | 10.27 | 84.73 | -7.9 | -3.99 | 15.27 | 112.04 | 26.86 | 9.81 | -1.6 | 14.2 |
| 23Q1 (14) | 0.95 | 17.28 | -70.68 | 18.93 | -10.75 | -39.77 | 9.61 | 3.0 | -56.02 | 10.39 | 17.8 | -57.82 | 8.01 | 18.84 | -59.59 | 2.15 | 21.47 | -72.37 | 1.37 | 18.1 | -71.64 | 0.16 | 0.0 | -33.33 | 18.33 | 11.16 | -37.27 | 72.57 | 28.9 | 7.94 | 92.00 | -12.93 | 3.72 | 7.20 | 227.2 | -36.3 | 9.97 | -17.74 | 6.63 |
| 22Q4 (13) | 0.81 | -50.0 | -73.0 | 21.21 | -10.62 | -31.34 | 9.33 | -23.77 | -56.6 | 8.82 | -49.05 | -61.52 | 6.74 | -49.66 | -63.31 | 1.77 | -51.9 | -76.24 | 1.16 | -48.21 | -76.18 | 0.16 | 0.0 | -38.46 | 16.49 | -31.92 | -40.43 | 56.30 | -17.28 | -1.98 | 105.66 | 49.63 | 12.54 | -5.66 | -119.26 | -192.53 | 12.12 | 8.21 | 79.29 |
| 22Q3 (12) | 1.62 | -41.3 | 4.52 | 23.73 | -16.44 | 0.3 | 12.24 | -38.43 | -12.7 | 17.31 | -23.31 | 5.61 | 13.39 | -25.45 | 1.36 | 3.68 | -43.21 | -8.46 | 2.24 | -42.27 | -17.95 | 0.16 | -23.81 | -20.0 | 24.22 | -12.47 | 7.45 | 68.06 | -2.88 | 34.32 | 70.62 | -19.98 | -17.4 | 29.38 | 144.17 | 102.54 | 11.20 | 30.38 | 20.82 |
| 22Q2 (11) | 2.76 | -14.81 | 142.11 | 28.40 | -9.64 | 43.07 | 19.88 | -9.02 | 113.76 | 22.57 | -8.36 | 68.94 | 17.96 | -9.38 | 54.96 | 6.48 | -16.71 | 113.16 | 3.88 | -19.67 | 78.8 | 0.21 | -12.5 | 16.67 | 27.67 | -5.3 | 34.91 | 70.08 | 4.24 | 48.54 | 88.25 | -0.5 | 26.62 | 12.03 | 6.48 | -60.29 | 8.59 | -8.13 | -20.39 |
| 22Q1 (10) | 3.24 | 8.0 | 224.0 | 31.43 | 1.75 | 43.25 | 21.85 | 1.63 | 90.17 | 24.63 | 7.46 | 86.87 | 19.82 | 7.89 | 90.76 | 7.78 | 4.43 | 189.22 | 4.83 | -0.82 | 146.43 | 0.24 | -7.69 | 26.32 | 29.22 | 5.56 | 41.71 | 67.23 | 17.04 | 85.51 | 88.70 | -5.52 | 2.28 | 11.30 | 84.77 | -9.58 | 9.35 | 38.31 | -11.63 |
| 21Q4 (9) | 3.00 | 93.55 | 191.26 | 30.89 | 30.56 | 32.97 | 21.50 | 53.35 | 67.84 | 22.92 | 39.84 | 74.7 | 18.37 | 39.06 | 77.32 | 7.45 | 85.32 | 175.93 | 4.87 | 78.39 | 151.03 | 0.26 | 30.0 | 44.44 | 27.68 | 22.8 | 33.85 | 57.44 | 13.36 | 36.86 | 93.88 | 9.81 | -3.71 | 6.12 | -57.84 | 144.68 | 6.76 | -27.08 | -35.62 |
| 21Q3 (8) | 1.55 | 35.96 | 16.54 | 23.66 | 19.19 | -2.51 | 14.02 | 50.75 | 1.89 | 16.39 | 22.68 | 15.42 | 13.21 | 13.98 | 16.49 | 4.02 | 32.24 | 5.51 | 2.73 | 25.81 | 0.0 | 0.20 | 11.11 | -16.67 | 22.54 | 9.9 | 5.67 | 50.67 | 7.4 | 23.34 | 85.49 | 22.66 | -11.58 | 14.51 | -52.12 | 338.13 | 9.27 | -14.09 | -14.17 |
| 21Q2 (7) | 1.14 | 14.0 | 10.68 | 19.85 | -9.53 | -6.59 | 9.30 | -19.06 | -19.48 | 13.36 | 1.37 | 6.37 | 11.59 | 11.55 | 16.72 | 3.04 | 13.01 | 0.33 | 2.17 | 10.71 | 0.0 | 0.18 | -5.26 | -18.18 | 20.51 | -0.53 | 6.49 | 47.18 | 30.19 | 13.93 | 69.70 | -19.63 | -24.55 | 30.30 | 142.42 | 257.58 | 10.79 | 1.98 | 10.55 |
| 21Q1 (6) | 1.00 | -2.91 | 0.0 | 21.94 | -5.55 | 3.59 | 11.49 | -10.3 | 4.64 | 13.18 | 0.46 | 4.85 | 10.39 | 0.29 | 3.08 | 2.69 | -0.37 | -7.88 | 1.96 | 1.03 | -9.26 | 0.19 | 5.56 | -9.52 | 20.62 | -0.29 | 6.07 | 36.24 | -13.65 | -11.89 | 86.72 | -11.06 | -1.02 | 12.50 | 400.0 | 0.89 | 10.58 | 0.76 | -1.49 |
| 20Q4 (5) | 1.03 | -22.56 | 9.57 | 23.23 | -4.29 | 26.94 | 12.81 | -6.9 | 51.78 | 13.12 | -7.61 | 33.2 | 10.36 | -8.64 | 12.49 | 2.70 | -29.13 | -1.1 | 1.94 | -28.94 | -3.96 | 0.18 | -25.0 | -18.18 | 20.68 | -3.05 | 20.09 | 41.97 | 2.17 | 23.84 | 97.50 | 0.84 | 13.75 | 2.50 | -24.5 | -82.5 | 10.50 | -2.78 | 1.84 |
| 20Q3 (4) | 1.33 | 29.13 | 0.0 | 24.27 | 14.21 | 0.0 | 13.76 | 19.13 | 0.0 | 14.20 | 13.06 | 0.0 | 11.34 | 14.2 | 0.0 | 3.81 | 25.74 | 0.0 | 2.73 | 25.81 | 0.0 | 0.24 | 9.09 | 0.0 | 21.33 | 10.75 | 0.0 | 41.08 | -0.8 | 0.0 | 96.69 | 4.67 | 0.0 | 3.31 | -60.93 | 0.0 | 10.80 | 10.66 | 0.0 |
| 20Q2 (3) | 1.03 | 3.0 | 0.0 | 21.25 | 0.33 | 0.0 | 11.55 | 5.19 | 0.0 | 12.56 | -0.08 | 0.0 | 9.93 | -1.49 | 0.0 | 3.03 | 3.77 | 0.0 | 2.17 | 0.46 | 0.0 | 0.22 | 4.76 | 0.0 | 19.26 | -0.93 | 0.0 | 41.41 | 0.68 | 0.0 | 92.37 | 5.44 | 0.0 | 8.47 | -31.6 | 0.0 | 9.76 | -9.12 | 0.0 |
| 20Q1 (2) | 1.00 | 6.38 | 0.0 | 21.18 | 15.74 | 0.0 | 10.98 | 30.09 | 0.0 | 12.57 | 27.61 | 0.0 | 10.08 | 9.45 | 0.0 | 2.92 | 6.96 | 0.0 | 2.16 | 6.93 | 0.0 | 0.21 | -4.55 | 0.0 | 19.44 | 12.89 | 0.0 | 41.13 | 21.36 | 0.0 | 87.61 | 2.21 | 0.0 | 12.39 | -13.27 | 0.0 | 10.74 | 4.17 | 0.0 |
| 19Q4 (1) | 0.94 | 0.0 | 0.0 | 18.30 | 0.0 | 0.0 | 8.44 | 0.0 | 0.0 | 9.85 | 0.0 | 0.0 | 9.21 | 0.0 | 0.0 | 2.73 | 0.0 | 0.0 | 2.02 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 17.22 | 0.0 | 0.0 | 33.89 | 0.0 | 0.0 | 85.71 | 0.0 | 0.0 | 14.29 | 0.0 | 0.0 | 10.31 | 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) | 4.41 | -47.69 | 20.48 | -23.41 | 11.18 | -32.45 | 7.67 | 38.2 | 11.65 | -39.01 | 8.90 | -41.14 | 9.79 | -49.33 | 6.23 | -50.32 | 0.66 | -18.52 | 20.12 | -19.49 | 75.21 | 33.59 | 96.04 | 10.81 | 3.96 | -70.3 | 1.78 | 0 | 9.78 | -3.46 |
| 2022 (9) | 8.43 | 26.01 | 26.74 | 6.96 | 16.55 | 9.68 | 5.55 | -6.54 | 19.10 | 10.09 | 15.12 | 7.46 | 19.32 | 14.45 | 12.54 | 10.29 | 0.81 | 1.25 | 24.99 | 6.39 | 56.30 | -1.98 | 86.67 | -0.34 | 13.33 | 2.3 | 0.00 | 0 | 10.13 | 12.68 |
| 2021 (8) | 6.69 | 53.44 | 25.00 | 10.86 | 15.09 | 22.38 | 5.94 | -13.73 | 17.35 | 31.94 | 14.07 | 34.51 | 16.88 | 46.78 | 11.37 | 34.88 | 0.80 | 1.27 | 23.49 | 16.23 | 57.44 | 36.86 | 86.97 | -7.3 | 13.03 | 110.97 | 0.00 | 0 | 8.99 | -14.05 |
| 2020 (7) | 4.36 | 21.79 | 22.55 | 29.23 | 12.33 | 43.37 | 6.89 | 0.76 | 13.15 | 37.27 | 10.46 | 26.94 | 11.50 | 11.33 | 8.43 | 9.77 | 0.79 | -14.13 | 20.21 | 21.6 | 41.97 | 23.84 | 93.82 | 4.34 | 6.18 | -38.73 | 0.00 | 0 | 10.46 | 10.92 |
| 2019 (6) | 3.58 | -18.26 | 17.45 | -7.08 | 8.60 | -15.69 | 6.83 | 38.36 | 9.58 | -21.54 | 8.24 | -16.09 | 10.33 | -20.9 | 7.68 | -20.41 | 0.92 | -6.12 | 16.62 | -3.6 | 33.89 | -15.61 | 89.92 | 7.56 | 10.08 | -38.53 | 0.00 | 0 | 9.43 | 0.96 |
| 2018 (5) | 4.38 | 2.82 | 18.78 | -5.63 | 10.20 | -14.36 | 4.94 | 1.84 | 12.21 | 2.18 | 9.82 | 1.13 | 13.06 | -3.55 | 9.65 | -5.67 | 0.98 | -6.67 | 17.24 | 2.25 | 40.16 | 25.15 | 83.60 | -16.22 | 16.40 | 3794.23 | 0.00 | 0 | 9.34 | 8.73 |
| 2017 (4) | 4.26 | 33.96 | 19.90 | 11.8 | 11.91 | 20.06 | 4.85 | 8.27 | 11.95 | 26.05 | 9.71 | 29.47 | 13.54 | 25.6 | 10.23 | 28.2 | 1.05 | -0.94 | 16.86 | 20.77 | 32.09 | -6.14 | 99.79 | -4.69 | 0.42 | 0 | 0.00 | 0 | 8.59 | 3.87 |
| 2016 (3) | 3.18 | 40.09 | 17.80 | 40.16 | 9.92 | 107.1 | 4.48 | -13.67 | 9.48 | 35.24 | 7.50 | 29.53 | 10.78 | 31.62 | 7.98 | 31.68 | 1.06 | 1.92 | 13.96 | 13.87 | 34.19 | -6.56 | 104.70 | 53.31 | -4.70 | 0 | 0.00 | 0 | 8.27 | 3.5 |
| 2015 (2) | 2.27 | 39.26 | 12.70 | 38.19 | 4.79 | 197.52 | 5.19 | -4.34 | 7.01 | 41.9 | 5.79 | 39.52 | 8.19 | 32.1 | 6.06 | 32.03 | 1.04 | -3.7 | 12.26 | 16.98 | 36.59 | 2.95 | 68.29 | 109.76 | 31.71 | -52.99 | 0.00 | 0 | 7.99 | 6.25 |
| 2014 (1) | 1.63 | 0.62 | 9.19 | 0 | 1.61 | 0 | 5.42 | 0.45 | 4.94 | 0 | 4.15 | 0 | 6.20 | 0 | 4.59 | 0 | 1.08 | 4.85 | 10.48 | -5.16 | 35.54 | -13.59 | 32.56 | -51.98 | 67.44 | 105.81 | 0.00 | 0 | 7.52 | -9.62 |
