- 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) | 0.35 | -46.97 | -56.79 | 45.69 | 7.51 | 9.73 | 19.39 | -9.18 | -5.28 | 18.46 | -29.49 | -42.37 | 14.82 | -29.26 | -42.18 | 1.72 | -45.05 | -57.11 | 1.47 | -44.94 | -56.38 | 0.10 | -23.08 | -23.08 | 21.39 | -25.29 | -37.58 | 10.69 | -53.74 | -18.02 | 105.88 | 29.86 | 64.01 | -5.88 | -131.86 | -116.02 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 0.66 | -13.16 | -1.49 | 42.50 | -4.0 | -3.12 | 21.35 | 5.38 | 0.05 | 26.18 | -19.47 | -17.8 | 20.95 | -19.42 | -18.36 | 3.13 | -10.32 | -2.49 | 2.67 | -14.15 | -2.2 | 0.13 | 8.33 | 18.18 | 28.63 | -18.41 | -17.33 | 23.11 | 92.26 | -9.73 | 81.54 | 31.17 | 20.45 | 18.46 | -51.21 | -45.45 | 27.22 | -16.5 | -14.43 |
| 24Q1 (18) | 0.76 | 7.04 | 76.74 | 44.27 | 5.88 | 0.52 | 20.26 | -16.04 | -4.93 | 32.51 | 86.2 | 39.05 | 26.00 | 44.12 | 39.04 | 3.49 | 2.35 | 78.97 | 3.11 | 2.98 | 75.71 | 0.12 | -29.41 | 33.33 | 35.09 | 81.34 | 33.63 | 12.02 | -3.22 | 21.29 | 62.16 | -55.24 | -31.29 | 37.84 | 197.3 | 297.3 | 32.60 | 42.05 | -2.89 |
| 23Q4 (17) | 0.71 | -12.35 | 18.33 | 41.81 | 0.41 | -7.81 | 24.13 | 17.88 | -10.0 | 17.46 | -45.49 | -22.85 | 18.04 | -29.61 | -27.87 | 3.41 | -14.96 | 21.35 | 3.02 | -10.39 | 19.84 | 0.17 | 30.77 | 70.0 | 19.35 | -43.54 | -24.21 | 12.42 | -4.75 | 13.94 | 138.89 | 115.14 | 19.44 | -38.89 | -205.94 | -109.03 | 22.95 | -19.13 | -18.09 |
| 23Q3 (16) | 0.81 | 20.9 | -10.99 | 41.64 | -5.08 | -1.56 | 20.47 | -4.08 | -10.69 | 32.03 | 0.57 | -20.28 | 25.63 | -0.12 | -20.26 | 4.01 | 24.92 | -8.86 | 3.37 | 23.44 | -10.85 | 0.13 | 18.18 | 8.33 | 34.27 | -1.04 | -20.28 | 13.04 | -49.06 | 11.45 | 64.56 | -4.63 | 12.66 | 36.71 | 8.46 | -14.02 | 28.38 | -10.78 | -3.11 |
| 23Q2 (15) | 0.67 | 55.81 | -23.86 | 43.87 | -0.39 | -8.87 | 21.34 | 0.14 | -20.01 | 31.85 | 36.23 | -16.43 | 25.66 | 37.22 | -15.84 | 3.21 | 64.62 | -24.29 | 2.73 | 54.24 | -25.21 | 0.11 | 22.22 | -8.33 | 34.63 | 31.87 | -15.31 | 25.60 | 158.32 | 21.62 | 67.69 | -25.18 | -2.97 | 33.85 | 255.38 | 11.95 | 31.81 | -5.24 | 6.74 |
| 23Q1 (14) | 0.43 | -28.33 | -54.74 | 44.04 | -2.89 | 1.15 | 21.31 | -20.51 | -22.71 | 23.38 | 3.31 | -36.83 | 18.70 | -25.23 | -36.85 | 1.95 | -30.6 | -57.61 | 1.77 | -29.76 | -56.83 | 0.09 | -10.0 | -35.71 | 26.26 | 2.86 | -33.42 | 9.91 | -9.08 | -15.08 | 90.48 | -22.19 | 21.95 | 9.52 | 151.19 | -63.1 | 33.57 | 19.81 | 27.16 |
| 22Q4 (13) | 0.60 | -34.07 | -18.92 | 45.35 | 7.21 | -2.68 | 26.81 | 16.97 | -6.06 | 22.63 | -43.68 | -18.66 | 25.01 | -22.18 | -10.04 | 2.81 | -36.14 | -24.66 | 2.52 | -33.33 | -22.7 | 0.10 | -16.67 | -16.67 | 25.53 | -40.61 | -17.03 | 10.90 | -6.84 | -13.49 | 116.28 | 102.92 | 14.31 | -18.60 | -143.57 | -979.07 | 28.02 | -4.34 | -3.58 |
| 22Q3 (12) | 0.91 | 3.41 | 49.18 | 42.30 | -12.13 | -4.45 | 22.92 | -14.09 | -13.05 | 40.18 | 5.43 | 47.13 | 32.14 | 5.41 | 47.16 | 4.40 | 3.77 | 42.39 | 3.78 | 3.56 | 38.46 | 0.12 | 0.0 | -7.69 | 42.99 | 5.14 | 41.97 | 11.70 | -44.42 | -28.18 | 57.30 | -17.87 | -39.68 | 42.70 | 41.23 | 1180.9 | 29.29 | -1.71 | 1.95 |
| 22Q2 (11) | 0.88 | -7.37 | 114.63 | 48.14 | 10.56 | 11.2 | 26.68 | -3.23 | 3.98 | 38.11 | 2.97 | 92.57 | 30.49 | 2.97 | 92.61 | 4.24 | -7.83 | 105.83 | 3.65 | -10.98 | 93.12 | 0.12 | -14.29 | 0.0 | 40.89 | 3.68 | 78.64 | 21.05 | 80.38 | 117.91 | 69.77 | -5.97 | -46.33 | 30.23 | 17.15 | 200.78 | 29.80 | 12.88 | 6.01 |
| 22Q1 (10) | 0.95 | 28.38 | 850.0 | 43.54 | -6.57 | 66.37 | 27.57 | -3.4 | 370.48 | 37.01 | 33.03 | 471.14 | 29.61 | 6.51 | 467.24 | 4.60 | 23.32 | 784.62 | 4.10 | 25.77 | 754.17 | 0.14 | 16.67 | 55.56 | 39.44 | 28.18 | 274.55 | 11.67 | -7.38 | 41.11 | 74.19 | -27.06 | -17.56 | 25.81 | 1596.77 | 158.06 | 26.40 | -9.15 | -21.31 |
| 21Q4 (9) | 0.74 | 21.31 | 208.33 | 46.60 | 5.26 | 32.54 | 28.54 | 8.27 | 97.51 | 27.82 | 1.87 | 256.67 | 27.80 | 27.29 | 143.22 | 3.73 | 20.71 | 205.74 | 3.26 | 19.41 | 191.07 | 0.12 | -7.69 | 20.0 | 30.77 | 1.62 | 162.32 | 12.60 | -22.65 | 47.2 | 101.72 | 7.08 | -42.5 | -1.72 | -151.72 | 97.96 | 29.06 | 1.15 | -8.96 |
| 21Q3 (8) | 0.61 | 48.78 | 69.44 | 44.27 | 2.26 | 4.86 | 26.36 | 2.73 | 16.84 | 27.31 | 38.0 | 48.75 | 21.84 | 37.97 | 45.5 | 3.09 | 50.0 | 64.36 | 2.73 | 44.44 | 63.47 | 0.13 | 8.33 | 18.18 | 30.28 | 32.28 | 38.84 | 16.29 | 68.63 | 66.73 | 95.00 | -26.92 | -23.1 | 3.33 | 111.11 | 114.17 | 28.73 | 2.21 | -3.23 |
| 21Q2 (7) | 0.41 | 310.0 | -4.65 | 43.29 | 65.42 | -1.59 | 25.66 | 337.88 | 3.18 | 19.79 | 205.4 | -4.16 | 15.83 | 203.26 | -4.18 | 2.06 | 296.15 | -8.04 | 1.89 | 293.75 | -5.03 | 0.12 | 33.33 | 0.0 | 22.89 | 117.38 | -4.7 | 9.66 | 16.81 | -40.3 | 130.00 | 44.44 | 7.06 | -30.00 | -400.0 | -40.0 | 28.11 | -16.21 | 0 |
| 21Q1 (6) | 0.10 | -58.33 | -80.77 | 26.17 | -25.57 | -38.18 | 5.86 | -59.45 | -74.22 | 6.48 | -16.92 | -76.36 | 5.22 | -54.33 | -76.2 | 0.52 | -57.38 | -80.88 | 0.48 | -57.14 | -80.72 | 0.09 | -10.0 | -18.18 | 10.53 | -10.23 | -66.05 | 8.27 | -3.39 | -10.5 | 90.00 | -49.13 | 9.29 | 10.00 | 111.82 | -43.33 | 33.55 | 5.11 | 0 |
| 20Q4 (5) | 0.24 | -33.33 | -20.0 | 35.16 | -16.72 | -9.94 | 14.45 | -35.95 | -36.32 | 7.80 | -57.52 | -44.76 | 11.43 | -23.85 | -10.98 | 1.22 | -35.11 | -24.22 | 1.12 | -32.93 | -24.32 | 0.10 | -9.09 | -16.67 | 11.73 | -46.22 | -34.25 | 8.56 | -12.38 | -10.46 | 176.92 | 43.22 | 9.52 | -84.62 | -259.62 | -37.5 | 31.92 | 7.51 | 35.77 |
| 20Q3 (4) | 0.36 | -16.28 | 0.0 | 42.22 | -4.02 | 0.0 | 22.56 | -9.29 | 0.0 | 18.36 | -11.09 | 0.0 | 15.01 | -9.14 | 0.0 | 1.88 | -16.07 | 0.0 | 1.67 | -16.08 | 0.0 | 0.11 | -8.33 | 0.0 | 21.81 | -9.2 | 0.0 | 9.77 | -39.62 | 0.0 | 123.53 | 1.73 | 0.0 | -23.53 | -9.8 | 0.0 | 29.69 | 0 | 0.0 |
| 20Q2 (3) | 0.43 | -17.31 | 0.0 | 43.99 | 3.92 | 0.0 | 24.87 | 9.41 | 0.0 | 20.65 | -24.66 | 0.0 | 16.52 | -24.67 | 0.0 | 2.24 | -17.65 | 0.0 | 1.99 | -20.08 | 0.0 | 0.12 | 9.09 | 0.0 | 24.02 | -22.57 | 0.0 | 16.18 | 75.11 | 0.0 | 121.43 | 47.45 | 0.0 | -21.43 | -221.43 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 0.52 | 73.33 | 0.0 | 42.33 | 8.43 | 0.0 | 22.73 | 0.18 | 0.0 | 27.41 | 94.12 | 0.0 | 21.93 | 70.79 | 0.0 | 2.72 | 68.94 | 0.0 | 2.49 | 68.24 | 0.0 | 0.11 | -8.33 | 0.0 | 31.02 | 73.88 | 0.0 | 9.24 | -3.35 | 0.0 | 82.35 | -49.02 | 0.0 | 17.65 | 128.68 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 0.30 | 0.0 | 0.0 | 39.04 | 0.0 | 0.0 | 22.69 | 0.0 | 0.0 | 14.12 | 0.0 | 0.0 | 12.84 | 0.0 | 0.0 | 1.61 | 0.0 | 0.0 | 1.48 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 17.84 | 0.0 | 0.0 | 9.56 | 0.0 | 0.0 | 161.54 | 0.0 | 0.0 | -61.54 | 0.0 | 0.0 | 23.51 | 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) | 2.63 | -21.26 | 42.64 | -4.78 | 22.02 | -15.37 | 2.23 | -10.23 | 25.55 | -27.06 | 21.82 | -26.01 | 12.21 | -23.3 | 10.93 | -23.3 | 0.50 | 4.17 | 28.06 | -25.65 | 12.42 | 13.94 | 85.89 | 15.77 | 13.69 | -46.94 | 0.21 | 34.04 | 28.33 | 0.0 |
| 2022 (9) | 3.34 | 79.57 | 44.78 | 8.9 | 26.02 | 14.27 | 2.49 | -19.31 | 35.03 | 63.31 | 29.49 | 58.21 | 15.92 | 70.27 | 14.25 | 68.64 | 0.48 | 6.67 | 37.74 | 53.1 | 10.90 | -13.49 | 74.19 | -30.0 | 25.81 | 0 | 0.16 | -29.22 | 28.33 | -4.26 |
| 2021 (8) | 1.86 | 20.0 | 41.12 | -0.15 | 22.77 | 6.1 | 3.08 | -8.68 | 21.45 | 13.13 | 18.64 | 13.8 | 9.35 | 16.15 | 8.45 | 14.34 | 0.45 | 0.0 | 24.65 | 9.36 | 12.60 | 47.2 | 105.99 | -6.68 | -5.99 | 0 | 0.22 | 24.41 | 29.59 | 0.03 |
| 2020 (7) | 1.55 | -6.63 | 41.18 | 11.75 | 21.46 | 10.79 | 3.37 | 10.39 | 18.96 | -4.82 | 16.38 | 3.28 | 8.05 | -9.75 | 7.39 | -9.44 | 0.45 | -11.76 | 22.54 | -2.47 | 8.56 | -10.46 | 113.57 | 17.17 | -13.57 | 0 | 0.18 | 47.2 | 29.58 | 17.66 |
| 2019 (6) | 1.66 | 0.0 | 36.85 | 7.84 | 19.37 | 16.13 | 3.06 | 4.71 | 19.92 | -0.1 | 15.86 | -3.12 | 8.92 | -4.09 | 8.16 | -2.97 | 0.51 | 0.0 | 23.11 | 0.61 | 9.56 | 7.3 | 96.93 | 16.17 | 3.07 | -81.48 | 0.12 | -4.67 | 25.14 | -14.61 |
| 2018 (5) | 1.66 | 5.06 | 34.17 | 2.27 | 16.68 | 1.03 | 2.92 | 23.44 | 19.94 | 39.93 | 16.37 | 37.33 | 9.30 | 0.32 | 8.41 | 2.31 | 0.51 | -26.09 | 22.97 | 37.13 | 8.91 | -28.61 | 83.44 | -27.98 | 16.56 | 0 | 0.13 | 0 | 29.44 | 19.43 |
| 2017 (4) | 1.58 | 23.44 | 33.41 | 23.15 | 16.51 | 47.54 | 2.36 | -29.21 | 14.25 | 22.42 | 11.92 | 21.76 | 9.27 | 17.05 | 8.22 | 16.6 | 0.69 | -4.17 | 16.75 | 11.07 | 12.48 | -3.93 | 115.86 | 20.04 | -15.86 | 0 | 0.00 | 0 | 24.65 | -11.36 |
| 2016 (3) | 1.28 | 68.42 | 27.13 | 25.72 | 11.19 | 116.86 | 3.34 | -20.9 | 11.64 | 72.96 | 9.79 | 76.08 | 7.92 | 65.69 | 7.05 | 68.66 | 0.72 | -4.0 | 15.08 | 36.59 | 12.99 | 13.15 | 96.52 | 25.12 | 3.48 | -84.78 | 0.00 | 0 | 27.81 | 10.44 |
| 2015 (2) | 0.76 | -71.64 | 21.58 | -28.35 | 5.16 | -67.89 | 4.22 | -4.63 | 6.73 | -61.8 | 5.56 | -63.97 | 4.78 | -71.8 | 4.18 | -70.81 | 0.75 | -19.35 | 11.04 | -49.95 | 11.48 | -32.79 | 77.14 | -15.55 | 22.86 | 164.0 | 0.00 | 0 | 25.18 | 10.39 |
| 2014 (1) | 2.68 | 52.27 | 30.12 | 0 | 16.07 | 0 | 4.43 | -16.07 | 17.62 | 0 | 15.43 | 0 | 16.95 | 0 | 14.32 | 0 | 0.93 | -2.11 | 22.06 | 17.53 | 17.08 | -13.48 | 91.34 | 1.95 | 8.66 | -16.79 | 0.00 | 0 | 22.81 | 4.49 |
