- 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 | -28.79 | 10.59 | 70.67 | -6.35 | 2.99 | 28.02 | -10.31 | 25.15 | 29.04 | -26.2 | 10.33 | 23.45 | -28.92 | -17.52 | 3.68 | -30.17 | 0.27 | 3.07 | -30.39 | 0.33 | 0.13 | 0.0 | 18.18 | 33.83 | -23.32 | 16.13 | 15.16 | -41.1 | 37.44 | 94.87 | 19.14 | 11.37 | 2.56 | -87.41 | -82.69 | 30.90 | -5.85 | -13.83 |
| 24Q2 (19) | 1.32 | 37.5 | 53.49 | 75.46 | 0.08 | 14.8 | 31.24 | 0.84 | 55.97 | 39.35 | 16.52 | 62.33 | 32.99 | 20.14 | 16.94 | 5.27 | 40.91 | 50.14 | 4.41 | 34.04 | 51.55 | 0.13 | 8.33 | 30.0 | 44.12 | 20.05 | 62.33 | 25.74 | 89.13 | -12.75 | 79.63 | -11.52 | -5.2 | 20.37 | 171.6 | 27.31 | 32.82 | -6.26 | -8.66 |
| 24Q1 (18) | 0.96 | 9.09 | 33.33 | 75.40 | 3.15 | 5.03 | 30.98 | 16.47 | 24.12 | 33.77 | 24.2 | 16.29 | 27.46 | -6.12 | 13.85 | 3.74 | 3.31 | 31.69 | 3.29 | 2.17 | 31.6 | 0.12 | 9.09 | 20.0 | 36.75 | 24.96 | 16.0 | 13.61 | -4.02 | 0.96 | 90.00 | -6.67 | 4.4 | 7.50 | 110.0 | -45.62 | 35.01 | -2.56 | -4.79 |
| 23Q4 (17) | 0.88 | 3.53 | 37.5 | 73.10 | 6.53 | -1.58 | 26.60 | 18.8 | 8.04 | 27.19 | 3.31 | 16.85 | 29.25 | 2.88 | 58.97 | 3.62 | -1.36 | 47.76 | 3.22 | 5.23 | 51.17 | 0.11 | 0.0 | -8.33 | 29.41 | 0.96 | 13.12 | 14.18 | 28.56 | 1.58 | 96.43 | 13.2 | -11.29 | 3.57 | -75.89 | 182.14 | 35.93 | 0.2 | -10.33 |
| 23Q3 (16) | 0.85 | -1.16 | -20.56 | 68.62 | 4.4 | -6.4 | 22.39 | 11.78 | -22.42 | 26.32 | 8.58 | -23.69 | 28.43 | 0.78 | 1.5 | 3.67 | 4.56 | -25.1 | 3.06 | 5.15 | -19.05 | 0.11 | 10.0 | -15.38 | 29.13 | 7.17 | -20.43 | 11.03 | -62.61 | -33.63 | 85.19 | 1.41 | 3.82 | 14.81 | -7.41 | -3.7 | 35.86 | -0.19 | 0.03 |
| 23Q2 (15) | 0.86 | 19.44 | -42.67 | 65.73 | -8.44 | -6.09 | 20.03 | -19.75 | -38.71 | 24.24 | -16.53 | -31.2 | 28.21 | 16.96 | -1.33 | 3.51 | 23.59 | -48.0 | 2.91 | 16.4 | -42.15 | 0.10 | 0.0 | -44.44 | 27.18 | -14.2 | -26.56 | 29.50 | 118.84 | -33.02 | 84.00 | -2.56 | -9.28 | 16.00 | 16.0 | 116.0 | 35.93 | -2.28 | 19.13 |
| 23Q1 (14) | 0.72 | 12.5 | -56.89 | 71.79 | -3.34 | 2.24 | 24.96 | 1.38 | -26.7 | 29.04 | 24.8 | -22.29 | 24.12 | 31.09 | -20.05 | 2.84 | 15.92 | -61.57 | 2.50 | 17.37 | -57.98 | 0.10 | -16.67 | -50.0 | 31.68 | 21.85 | -18.54 | 13.48 | -3.44 | -46.44 | 86.21 | -20.69 | -5.96 | 13.79 | 417.24 | 65.52 | 36.77 | -8.24 | 23.39 |
| 22Q4 (13) | 0.64 | -40.19 | -3.03 | 74.27 | 1.31 | 5.23 | 24.62 | -14.69 | -31.67 | 23.27 | -32.53 | 94.24 | 18.40 | -34.31 | 164.75 | 2.45 | -50.0 | 52.17 | 2.13 | -43.65 | 61.36 | 0.12 | -7.69 | -36.84 | 26.00 | -28.98 | 72.53 | 13.96 | -16.0 | -41.05 | 108.70 | 32.47 | -63.08 | -4.35 | -128.26 | 97.76 | 40.07 | 11.77 | 50.58 |
| 22Q3 (12) | 1.07 | -28.67 | -18.32 | 73.31 | 4.74 | 3.79 | 28.86 | -11.69 | -12.94 | 34.49 | -2.1 | 4.11 | 28.01 | -2.03 | 5.18 | 4.90 | -27.41 | -19.8 | 3.78 | -24.85 | -24.85 | 0.13 | -27.78 | -31.58 | 36.61 | -1.08 | 1.38 | 16.62 | -62.26 | -24.14 | 82.05 | -11.38 | -17.95 | 15.38 | 107.69 | 0 | 35.85 | 18.87 | 17.62 |
| 22Q2 (11) | 1.50 | -10.18 | 33.93 | 69.99 | -0.33 | 3.5 | 32.68 | -4.02 | 29.32 | 35.23 | -5.73 | 39.75 | 28.59 | -5.24 | 28.38 | 6.75 | -8.66 | 25.93 | 5.03 | -15.46 | 12.53 | 0.18 | -10.0 | -10.0 | 37.01 | -4.83 | 30.41 | 44.04 | 74.97 | 105.31 | 92.59 | 1.01 | -7.41 | 7.41 | -11.11 | 0 | 30.16 | 1.21 | -14.25 |
| 22Q1 (10) | 1.67 | 153.03 | 108.75 | 70.22 | -0.51 | 8.33 | 34.05 | -5.5 | 42.89 | 37.37 | 211.94 | 56.82 | 30.17 | 334.1 | 60.82 | 7.39 | 359.01 | 91.45 | 5.95 | 350.76 | 81.4 | 0.20 | 5.26 | 17.65 | 38.89 | 158.06 | 41.42 | 25.17 | 6.29 | 36.35 | 91.67 | -68.87 | -8.33 | 8.33 | 104.29 | 0 | 29.80 | 11.99 | -3.93 |
| 21Q4 (9) | 0.66 | -49.62 | -8.33 | 70.58 | -0.07 | 9.58 | 36.03 | 8.69 | 84.86 | 11.98 | -63.84 | -1.07 | 6.95 | -73.9 | -21.65 | 1.61 | -73.65 | -46.86 | 1.32 | -73.76 | -50.0 | 0.19 | 0.0 | -36.67 | 15.07 | -58.27 | -12.33 | 23.68 | 8.08 | 34.09 | 294.44 | 194.44 | 83.03 | -194.44 | 0 | -219.44 | 26.61 | -12.7 | -20.31 |
| 21Q3 (8) | 1.31 | 16.96 | 0 | 70.63 | 4.45 | 0 | 33.15 | 31.18 | 0 | 33.13 | 31.42 | 0 | 26.63 | 19.58 | 0 | 6.11 | 13.99 | 0 | 5.03 | 12.53 | 0 | 0.19 | -5.0 | 0 | 36.11 | 27.24 | 0 | 21.91 | 2.14 | 0 | 100.00 | 0.0 | 0 | 0.00 | 0 | 0 | 30.48 | -13.34 | 0 |
| 21Q2 (7) | 1.12 | 40.0 | 0 | 67.62 | 4.32 | 0 | 25.27 | 6.04 | 0 | 25.21 | 5.79 | 0 | 22.27 | 18.71 | 0 | 5.36 | 38.86 | 0 | 4.47 | 36.28 | 0 | 0.20 | 17.65 | 0 | 28.38 | 3.2 | 0 | 21.45 | 16.2 | 0 | 100.00 | 0.0 | 0 | 0.00 | 0 | 0 | 35.17 | 13.38 | 0 |
| 21Q1 (6) | 0.80 | 11.11 | 0 | 64.82 | 0.64 | 0 | 23.83 | 22.27 | 0 | 23.83 | 96.78 | 0 | 18.76 | 111.5 | 0 | 3.86 | 27.39 | 0 | 3.28 | 24.24 | 0 | 0.17 | -43.33 | 0 | 27.50 | 59.98 | 0 | 18.46 | 4.53 | 0 | 100.00 | -37.84 | 0 | 0.00 | 100.0 | 0 | 31.02 | -7.1 | 0 |
| 20Q4 (5) | 0.72 | 0 | 0 | 64.41 | 0 | 0 | 19.49 | 0 | 0 | 12.11 | 0 | 0 | 8.87 | 0 | 0 | 3.03 | 0 | 0 | 2.64 | 0 | 0 | 0.30 | 0 | 0 | 17.19 | 0 | 0 | 17.66 | 0 | 0 | 160.87 | 0 | 0 | -60.87 | 0 | 0 | 33.39 | 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) | 3.31 | -30.61 | 69.80 | -2.47 | 23.48 | -23.67 | 2.20 | 16.19 | 26.69 | -20.23 | 27.51 | 1.81 | 13.32 | -30.88 | 11.69 | -28.41 | 0.42 | -30.0 | 29.34 | -17.61 | 14.18 | 1.58 | 88.07 | -3.77 | 11.93 | 50.79 | 0.21 | -33.13 | 36.12 | 9.03 |
| 2022 (9) | 4.77 | 20.76 | 71.57 | 4.38 | 30.76 | 3.15 | 1.89 | -3.93 | 33.46 | 42.38 | 27.02 | 45.03 | 19.27 | 11.0 | 16.33 | 13.4 | 0.60 | -22.08 | 35.61 | 33.37 | 13.96 | -41.05 | 91.53 | -27.77 | 7.91 | 0 | 0.31 | -18.57 | 33.13 | 7.5 |
| 2021 (8) | 3.95 | 107.89 | 68.57 | 4.1 | 29.82 | 50.45 | 1.97 | -25.29 | 23.50 | 45.6 | 18.63 | 44.64 | 17.36 | 99.31 | 14.40 | 90.73 | 0.77 | 32.76 | 26.70 | 26.48 | 23.68 | 34.09 | 126.72 | 3.06 | -26.72 | 0 | 0.38 | -94.1 | 30.82 | -10.85 |
| 2020 (7) | 1.90 | 25.83 | 65.87 | -3.3 | 19.82 | 24.42 | 2.64 | -5.6 | 16.14 | -2.6 | 12.88 | -3.59 | 8.71 | 13.56 | 7.55 | 10.7 | 0.58 | 13.73 | 21.11 | -4.26 | 17.66 | 26.59 | 122.95 | 27.77 | -22.95 | 0 | 6.48 | 0 | 34.57 | -9.86 |
| 2019 (6) | 1.51 | 5.59 | 68.12 | -1.76 | 15.93 | 2.71 | 2.80 | 18.99 | 16.57 | -2.93 | 13.36 | -4.84 | 7.67 | 2.68 | 6.82 | 0.89 | 0.51 | 6.25 | 22.05 | -0.45 | 13.95 | 20.88 | 96.23 | 6.69 | 3.77 | -61.51 | 0.00 | 0 | 38.35 | 1.16 |
| 2018 (5) | 1.43 | 134.43 | 69.34 | 3.52 | 15.51 | 91.48 | 2.35 | -4.7 | 17.07 | 149.56 | 14.04 | 201.94 | 7.47 | 217.87 | 6.76 | 218.87 | 0.48 | 4.35 | 22.15 | 49.76 | 11.54 | 20.21 | 90.20 | -25.49 | 9.80 | 0 | 0.00 | 0 | 37.91 | 0.82 |
| 2017 (4) | 0.61 | -29.89 | 66.98 | 0.54 | 8.10 | -10.99 | 2.46 | 10.92 | 6.84 | -28.15 | 4.65 | -29.33 | 2.35 | -35.44 | 2.12 | -34.97 | 0.46 | -8.0 | 14.79 | -13.71 | 9.60 | -20.66 | 121.05 | 25.23 | -21.05 | 0 | 0.00 | 0 | 37.60 | -3.49 |
| 2016 (3) | 0.87 | 20.83 | 66.62 | 2.51 | 9.10 | 83.1 | 2.22 | -5.71 | 9.52 | 42.94 | 6.58 | -0.75 | 3.64 | 10.3 | 3.26 | 8.31 | 0.50 | 11.11 | 17.14 | 15.73 | 12.10 | 9.3 | 96.67 | 28.89 | 3.33 | -86.67 | 0.00 | 0 | 38.96 | -3.4 |
| 2015 (2) | 0.72 | -8.86 | 64.99 | 2.82 | 4.97 | -28.08 | 2.36 | -2.02 | 6.66 | -45.9 | 6.63 | -35.76 | 3.30 | -31.25 | 3.01 | -32.05 | 0.45 | 4.65 | 14.81 | -31.59 | 11.07 | 27.24 | 75.00 | 35.0 | 25.00 | -43.75 | 0.00 | 0 | 40.33 | 16.19 |
| 2014 (1) | 0.79 | 0 | 63.21 | 0 | 6.91 | 0 | 2.41 | 0 | 12.31 | 0 | 10.32 | 0 | 4.80 | 0 | 4.43 | 0 | 0.43 | 0 | 21.65 | 0 | 8.70 | 0 | 55.56 | 0 | 44.44 | 0 | 0.00 | 0 | 34.71 | 0 |
