- 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) | 18.32 | -10.24 | -7.01 | 62.18 | 1.4 | 0.21 | 55.26 | 0.75 | -0.4 | 55.66 | -12.73 | -2.78 | 41.57 | -25.5 | -18.15 | 13.07 | -2.61 | -46.52 | 10.33 | -12.01 | -41.87 | 0.25 | 19.05 | -28.57 | 57.34 | -12.76 | -5.85 | 35.65 | 105.0 | 9.19 | 99.30 | 15.45 | 2.49 | 0.70 | -95.0 | -77.51 | 4.44 | 64.44 | 40.06 |
| 24Q2 (19) | 20.41 | -16.63 | 33.84 | 61.32 | -8.83 | 1.12 | 54.85 | -11.02 | 2.7 | 63.78 | -5.5 | 11.19 | 55.80 | -4.53 | 21.2 | 13.42 | -27.07 | -42.35 | 11.74 | -27.75 | -26.67 | 0.21 | -25.0 | -40.0 | 65.73 | -7.38 | 9.4 | 17.39 | 61.47 | -62.83 | 86.02 | -5.84 | -7.59 | 13.98 | 61.65 | 102.03 | 2.70 | -15.09 | -1.1 |
| 24Q1 (18) | 24.48 | 4.7 | 229.03 | 67.26 | -0.06 | 23.84 | 61.64 | 1.41 | 49.58 | 67.49 | 13.75 | 65.82 | 58.45 | 15.4 | 71.01 | 18.40 | -10.42 | 38.87 | 16.25 | -2.17 | 77.79 | 0.28 | -15.15 | 7.69 | 70.97 | 16.73 | 60.31 | 10.77 | -33.68 | -76.17 | 91.35 | -10.84 | -9.79 | 8.65 | 451.6 | 786.68 | 3.18 | 52.88 | -57.82 |
| 23Q4 (17) | 23.38 | 18.68 | 301.03 | 67.30 | 8.46 | 39.68 | 60.78 | 9.55 | 75.77 | 59.33 | 3.63 | 76.63 | 50.65 | -0.28 | 72.51 | 20.54 | -15.96 | 85.71 | 16.61 | -6.53 | 132.96 | 0.33 | -5.71 | 37.5 | 60.80 | -0.16 | 60.85 | 16.24 | -50.26 | -66.29 | 102.46 | 5.75 | -0.43 | -2.46 | -179.2 | 15.32 | 2.08 | -34.38 | -26.24 |
| 23Q3 (16) | 19.70 | 29.18 | 276.67 | 62.05 | 2.33 | 60.96 | 55.48 | 3.88 | 130.88 | 57.25 | -0.19 | 96.33 | 50.79 | 10.32 | 94.3 | 24.44 | 4.98 | 91.39 | 17.77 | 10.99 | 155.68 | 0.35 | 0.0 | 34.62 | 60.90 | 1.36 | 81.2 | 32.65 | -30.21 | -52.58 | 96.89 | 4.1 | 17.83 | 3.11 | -55.12 | -82.23 | 3.17 | 16.12 | -20.15 |
| 23Q2 (15) | 15.25 | 104.97 | 330.79 | 60.64 | 11.66 | 67.19 | 53.41 | 29.6 | 125.74 | 57.36 | 40.93 | 182.84 | 46.04 | 34.7 | 126.57 | 23.28 | 75.7 | 127.12 | 16.01 | 75.16 | 204.95 | 0.35 | 34.62 | 40.0 | 60.08 | 35.71 | 134.05 | 46.78 | 3.5 | -59.02 | 93.08 | -8.08 | -20.16 | 6.92 | 649.43 | 141.73 | 2.73 | -63.79 | -32.59 |
| 23Q1 (14) | 7.44 | 27.62 | 9.09 | 54.31 | 12.72 | 72.63 | 41.21 | 19.17 | 180.34 | 40.70 | 21.17 | -25.85 | 34.18 | 16.42 | -29.47 | 13.25 | 19.8 | -36.33 | 9.14 | 28.19 | -11.61 | 0.26 | 8.33 | 23.81 | 44.27 | 17.12 | -27.8 | 45.20 | -6.17 | -51.06 | 101.26 | -1.6 | 278.44 | -1.26 | 56.64 | -101.72 | 7.54 | 167.38 | 25.25 |
| 22Q4 (13) | 5.83 | 11.47 | 450.0 | 48.18 | 24.98 | 66.25 | 34.58 | 43.9 | 312.16 | 33.59 | 15.19 | 335.67 | 29.36 | 12.32 | 273.54 | 11.06 | -13.39 | 194.93 | 7.13 | 2.59 | 269.43 | 0.24 | -7.69 | 9.09 | 37.80 | 12.47 | 166.76 | 48.17 | -30.05 | -60.51 | 102.91 | 25.14 | -6.59 | -2.91 | -116.62 | 65.71 | 2.82 | -28.97 | -9.32 |
| 22Q3 (12) | 5.23 | 47.74 | 184.24 | 38.55 | 6.29 | 30.41 | 24.03 | 1.56 | 62.69 | 29.16 | 43.79 | 66.44 | 26.14 | 28.64 | 55.78 | 12.77 | 24.59 | 83.74 | 6.95 | 32.38 | 103.81 | 0.26 | 4.0 | 36.84 | 33.61 | 30.93 | 38.54 | 68.86 | -39.68 | -38.81 | 82.23 | -29.47 | -2.02 | 17.48 | 205.37 | 8.76 | 3.97 | -1.98 | -17.12 |
| 22Q2 (11) | 3.54 | -48.09 | 85.34 | 36.27 | 15.29 | 20.58 | 23.66 | 60.95 | 58.05 | 20.28 | -63.05 | 25.03 | 20.32 | -58.07 | 23.53 | 10.25 | -50.74 | 46.43 | 5.25 | -49.23 | 44.23 | 0.25 | 19.05 | 19.05 | 25.67 | -58.14 | 16.31 | 114.16 | 23.6 | -5.32 | 116.59 | 335.72 | 25.82 | -16.59 | -122.65 | -326.01 | 4.05 | -32.72 | -23.87 |
| 22Q1 (10) | 6.82 | 543.4 | 320.99 | 31.46 | 8.56 | -0.76 | 14.70 | 75.21 | 0.55 | 54.89 | 611.93 | 309.63 | 48.46 | 516.54 | 275.66 | 20.81 | 454.93 | 319.56 | 10.34 | 435.75 | 269.29 | 0.21 | -4.55 | 5.0 | 61.32 | 332.75 | 217.23 | 92.36 | -24.29 | 1.84 | 26.76 | -75.71 | -75.28 | 73.24 | 964.26 | 878.2 | 6.02 | 93.57 | 18.97 |
| 21Q4 (9) | 1.06 | -42.39 | -73.3 | 28.98 | -1.96 | -14.29 | 8.39 | -43.2 | -60.83 | 7.71 | -55.99 | -75.73 | 7.86 | -53.16 | -73.83 | 3.75 | -46.04 | -72.01 | 1.93 | -43.4 | -71.19 | 0.22 | 15.79 | 0.0 | 14.17 | -41.59 | -62.0 | 121.99 | 8.4 | 30.75 | 110.17 | 31.27 | 63.7 | -8.47 | -152.73 | -125.92 | 3.11 | -35.07 | -23.21 |
| 21Q3 (8) | 1.84 | -3.66 | 13.58 | 29.56 | -1.73 | -7.74 | 14.77 | -1.34 | -28.85 | 17.52 | 8.01 | 15.04 | 16.78 | 2.01 | 23.38 | 6.95 | -0.71 | 8.59 | 3.41 | -6.32 | 9.29 | 0.19 | -9.52 | -13.64 | 24.26 | 9.92 | 18.63 | 112.54 | -6.66 | -8.47 | 83.93 | -9.42 | -38.19 | 16.07 | 118.97 | 144.91 | 4.79 | -9.96 | 46.04 |
| 21Q2 (7) | 1.91 | 17.9 | -2.55 | 30.08 | -5.11 | -14.64 | 14.97 | 2.39 | -33.61 | 16.22 | 21.04 | -18.29 | 16.45 | 27.52 | -8.2 | 7.00 | 41.13 | -2.78 | 3.64 | 30.0 | -4.96 | 0.21 | 5.0 | 5.0 | 22.07 | 14.17 | -13.62 | 120.57 | 32.95 | 11.02 | 92.66 | -14.39 | -18.64 | 7.34 | 177.98 | 152.84 | 5.32 | 5.14 | 0 |
| 21Q1 (6) | 1.62 | -59.19 | -35.2 | 31.70 | -6.24 | -4.08 | 14.62 | -31.75 | -27.26 | 13.40 | -57.82 | -49.53 | 12.90 | -57.06 | -47.2 | 4.96 | -62.99 | -45.55 | 2.80 | -58.21 | -44.66 | 0.20 | -9.09 | 0.0 | 19.33 | -48.16 | -40.76 | 90.69 | -2.8 | 5.72 | 108.24 | 60.83 | 43.28 | -9.41 | -128.78 | -138.48 | 5.06 | 24.94 | 0 |
| 20Q4 (5) | 3.97 | 145.06 | 96.53 | 33.81 | 5.52 | -3.95 | 21.42 | 3.18 | -2.01 | 31.77 | 108.6 | 44.47 | 30.04 | 120.88 | 78.92 | 13.40 | 109.38 | 74.93 | 6.70 | 114.74 | 57.65 | 0.22 | 0.0 | -8.33 | 37.29 | 82.35 | 37.2 | 93.30 | -24.12 | 5.53 | 67.30 | -50.44 | -32.7 | 32.70 | 191.37 | 4249.29 | 4.05 | 23.48 | 3.32 |
| 20Q3 (4) | 1.62 | -17.35 | 0.0 | 32.04 | -9.08 | 0.0 | 20.76 | -7.94 | 0.0 | 15.23 | -23.27 | 0.0 | 13.60 | -24.11 | 0.0 | 6.40 | -11.11 | 0.0 | 3.12 | -18.54 | 0.0 | 0.22 | 10.0 | 0.0 | 20.45 | -19.96 | 0.0 | 122.95 | 13.21 | 0.0 | 135.79 | 19.23 | 0.0 | -35.79 | -157.68 | 0.0 | 3.28 | 0 | 0.0 |
| 20Q2 (3) | 1.96 | -21.6 | 0.0 | 35.24 | 6.63 | 0.0 | 22.55 | 12.19 | 0.0 | 19.85 | -25.24 | 0.0 | 17.92 | -26.65 | 0.0 | 7.20 | -20.97 | 0.0 | 3.83 | -24.31 | 0.0 | 0.20 | 0.0 | 0.0 | 25.55 | -21.7 | 0.0 | 108.60 | 26.6 | 0.0 | 113.89 | 50.77 | 0.0 | -13.89 | -156.78 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 2.50 | 23.76 | 0.0 | 33.05 | -6.11 | 0.0 | 20.10 | -8.05 | 0.0 | 26.55 | 20.74 | 0.0 | 24.43 | 45.5 | 0.0 | 9.11 | 18.93 | 0.0 | 5.06 | 19.06 | 0.0 | 0.20 | -16.67 | 0.0 | 32.63 | 20.05 | 0.0 | 85.78 | -2.97 | 0.0 | 75.54 | -24.46 | 0.0 | 24.46 | 3153.24 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 2.02 | 0.0 | 0.0 | 35.20 | 0.0 | 0.0 | 21.86 | 0.0 | 0.0 | 21.99 | 0.0 | 0.0 | 16.79 | 0.0 | 0.0 | 7.66 | 0.0 | 0.0 | 4.25 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 27.18 | 0.0 | 0.0 | 88.41 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.75 | 0.0 | 0.0 | 3.92 | 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) | 62.52 | 201.74 | 62.48 | 58.46 | 54.86 | 117.53 | 2.51 | -40.42 | 55.65 | 68.03 | 47.37 | 58.69 | 74.74 | 55.13 | 60.16 | 109.03 | 1.27 | 35.11 | 58.33 | 52.94 | 16.24 | -66.29 | 98.58 | 29.43 | 1.42 | -94.05 | 0.00 | 0 | 3.32 | -17.82 |
| 2022 (9) | 20.72 | 232.58 | 39.43 | 31.35 | 25.22 | 94.45 | 4.22 | -15.2 | 33.12 | 146.06 | 29.85 | 124.94 | 48.18 | 117.12 | 28.78 | 150.04 | 0.94 | 16.05 | 38.14 | 93.51 | 48.17 | -60.51 | 76.17 | -21.02 | 23.83 | 569.16 | 0.00 | 0 | 4.04 | -10.42 |
| 2021 (8) | 6.23 | -38.13 | 30.02 | -10.41 | 12.97 | -38.85 | 4.97 | 11.43 | 13.46 | -42.7 | 13.27 | -38.71 | 22.19 | -35.1 | 11.51 | -38.18 | 0.81 | -2.41 | 19.71 | -32.2 | 121.99 | 30.75 | 96.44 | 6.87 | 3.56 | -63.53 | 0.00 | 0 | 4.51 | 7.89 |
| 2020 (7) | 10.07 | 54.45 | 33.51 | 8.27 | 21.21 | 17.96 | 4.46 | -0.96 | 23.49 | 35.0 | 21.65 | 42.15 | 34.19 | 37.47 | 18.62 | 30.48 | 0.83 | -6.74 | 29.07 | 26.45 | 93.30 | 5.53 | 90.24 | -12.77 | 9.76 | 0 | 0.00 | 0 | 4.18 | -11.06 |
| 2019 (6) | 6.52 | 34.43 | 30.95 | 27.73 | 17.98 | 92.92 | 4.51 | -9.94 | 17.40 | 44.04 | 15.23 | 18.25 | 24.87 | 47.95 | 14.27 | 42.84 | 0.89 | 21.92 | 22.99 | 26.53 | 88.41 | 11.36 | 103.44 | 34.09 | -3.44 | 0 | 0.00 | 0 | 4.70 | -23.7 |
| 2018 (5) | 4.85 | 31.08 | 24.23 | -0.57 | 9.32 | -21.48 | 5.00 | 103.37 | 12.08 | 25.18 | 12.88 | 35.44 | 16.81 | 38.81 | 9.99 | 16.03 | 0.73 | -16.09 | 18.17 | 41.84 | 79.39 | 2.77 | 77.14 | -37.02 | 22.86 | 0 | 0.00 | 0 | 6.16 | 35.09 |
| 2017 (4) | 3.70 | -40.03 | 24.37 | -11.61 | 11.87 | -27.93 | 2.46 | -13.3 | 9.65 | -52.01 | 9.51 | -47.37 | 12.11 | -41.89 | 8.61 | -47.98 | 0.87 | -5.43 | 12.81 | -44.33 | 77.25 | 349.39 | 122.49 | 49.7 | -23.08 | 0 | 0.00 | 0 | 4.56 | 12.32 |
| 2016 (3) | 6.17 | -2.53 | 27.57 | 0.15 | 16.47 | -2.2 | 2.84 | -2.79 | 20.11 | -4.47 | 18.07 | -1.79 | 20.84 | -17.07 | 16.55 | -10.88 | 0.92 | -8.0 | 23.01 | -4.84 | 17.19 | -50.23 | 81.82 | 2.44 | 18.18 | -9.69 | 0.00 | 0 | 4.06 | -5.8 |
| 2015 (2) | 6.33 | 13.04 | 27.53 | 2.61 | 16.84 | -12.15 | 2.92 | 5.69 | 21.05 | 10.27 | 18.40 | 13.02 | 25.13 | -32.52 | 18.57 | -30.35 | 1.00 | -37.11 | 24.18 | 6.99 | 34.54 | -13.41 | 79.87 | -20.43 | 20.13 | 0 | 0.00 | 0 | 4.31 | 41.31 |
| 2014 (1) | 5.60 | 177.23 | 26.83 | 0 | 19.17 | 0 | 2.76 | -32.97 | 19.09 | 0 | 16.28 | 0 | 37.24 | 0 | 26.66 | 0 | 1.59 | 17.78 | 22.60 | 35.09 | 39.89 | -21.55 | 100.38 | -17.39 | -0.38 | 0 | 0.00 | 0 | 3.05 | -14.08 |
