- 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) | 4.19 | -14.66 | 5.28 | 28.07 | -8.6 | -16.13 | 11.66 | -16.89 | -23.94 | 14.83 | -11.73 | -21.03 | 12.90 | -11.7 | -17.15 | 3.19 | -7.27 | -0.62 | 2.61 | -6.12 | -1.14 | 0.20 | 5.26 | 17.65 | 17.96 | -10.69 | -18.33 | 16.32 | -43.08 | -12.54 | 78.65 | -5.84 | -3.56 | 21.35 | 29.62 | 16.53 | 11.69 | -1.18 | -15.72 |
| 24Q2 (19) | 4.91 | 54.89 | 56.87 | 30.71 | 2.61 | -4.12 | 14.03 | 36.48 | -2.23 | 16.80 | 19.32 | -6.67 | 14.61 | 21.04 | -3.69 | 3.44 | 63.81 | 9.9 | 2.78 | 56.18 | 7.34 | 0.19 | 26.67 | 11.76 | 20.11 | 11.72 | -4.28 | 28.67 | 48.86 | 15.28 | 83.53 | 14.28 | 4.72 | 16.47 | -38.8 | -18.59 | 11.83 | -17.56 | -10.45 |
| 24Q1 (18) | 3.17 | -4.23 | 40.27 | 29.93 | -11.4 | -1.8 | 10.28 | -33.38 | -17.63 | 14.08 | -22.04 | 2.03 | 12.07 | -25.72 | 8.94 | 2.10 | -28.08 | 2.94 | 1.78 | -27.94 | 3.49 | 0.15 | 0.0 | 0.0 | 18.00 | -17.7 | 5.63 | 19.26 | 11.07 | 10.56 | 73.09 | -14.45 | -19.17 | 26.91 | 84.83 | 180.99 | 14.35 | 11.85 | 6.14 |
| 23Q4 (17) | 3.31 | -16.83 | 77.01 | 33.78 | 0.93 | 26.09 | 15.43 | 0.65 | 92.63 | 18.06 | -3.83 | 128.03 | 16.25 | 4.37 | 124.76 | 2.92 | -9.03 | 105.63 | 2.47 | -6.44 | 105.83 | 0.15 | -11.76 | -6.25 | 21.87 | -0.55 | 104.78 | 17.34 | -7.07 | -14.96 | 85.44 | 4.76 | -15.59 | 14.56 | -20.52 | 1290.18 | 12.83 | -7.5 | -8.75 |
| 23Q3 (16) | 3.98 | 27.16 | 60.48 | 33.47 | 4.5 | 7.34 | 15.33 | 6.83 | 42.6 | 18.78 | 4.33 | 34.43 | 15.57 | 2.64 | 38.03 | 3.21 | 2.56 | 28.4 | 2.64 | 1.93 | 39.68 | 0.17 | 0.0 | 0.0 | 21.99 | 4.66 | 33.03 | 18.66 | -24.97 | 0.16 | 81.56 | 2.24 | 5.97 | 18.32 | -9.45 | -20.48 | 13.87 | 5.0 | -9.58 |
| 23Q2 (15) | 3.13 | 38.5 | -22.52 | 32.03 | 5.09 | -15.15 | 14.35 | 14.98 | -32.98 | 18.00 | 30.43 | -8.49 | 15.17 | 36.91 | -7.95 | 3.13 | 53.43 | -36.64 | 2.59 | 50.58 | -24.27 | 0.17 | 13.33 | -19.05 | 21.01 | 23.3 | -2.6 | 24.87 | 42.77 | -52.66 | 79.77 | -11.78 | -26.65 | 20.23 | 111.25 | 328.56 | 13.21 | -2.29 | -1.27 |
| 23Q1 (14) | 2.26 | 20.86 | -72.13 | 30.48 | 13.77 | -32.55 | 12.48 | 55.81 | -61.49 | 13.80 | 74.24 | -58.5 | 11.08 | 53.25 | -58.93 | 2.04 | 43.66 | -76.84 | 1.72 | 43.33 | -72.78 | 0.15 | -6.25 | -34.78 | 17.04 | 59.55 | -51.03 | 17.42 | -14.57 | -56.28 | 90.42 | -10.67 | -7.24 | 9.58 | 882.87 | 279.61 | 13.52 | -3.84 | 37.26 |
| 22Q4 (13) | 1.87 | -24.6 | -76.89 | 26.79 | -14.08 | -43.78 | 8.01 | -25.49 | -74.56 | 7.92 | -43.31 | -74.93 | 7.23 | -35.9 | -69.65 | 1.42 | -43.2 | -84.27 | 1.20 | -36.51 | -80.89 | 0.16 | -5.88 | -38.46 | 10.68 | -35.39 | -67.45 | 20.39 | 9.45 | -48.69 | 101.22 | 31.52 | 1.58 | -1.22 | -105.31 | -447.75 | 14.06 | -8.34 | 8.07 |
| 22Q3 (12) | 2.48 | -38.61 | -77.25 | 31.18 | -17.4 | -37.14 | 10.75 | -49.79 | -70.84 | 13.97 | -28.98 | -62.59 | 11.28 | -31.55 | -63.68 | 2.50 | -49.39 | -85.29 | 1.89 | -44.74 | -82.15 | 0.17 | -19.05 | -50.0 | 16.53 | -23.37 | -56.84 | 18.63 | -64.54 | -61.88 | 76.96 | -29.23 | -22.07 | 23.04 | 360.28 | 1757.12 | 15.34 | 14.65 | 50.24 |
| 22Q2 (11) | 4.04 | -50.18 | -61.81 | 37.75 | -16.46 | -19.99 | 21.41 | -33.94 | -43.51 | 19.67 | -40.84 | -49.04 | 16.48 | -38.92 | -49.86 | 4.94 | -43.93 | -79.83 | 3.42 | -45.89 | -76.77 | 0.21 | -8.7 | -53.33 | 21.57 | -38.02 | -45.57 | 52.54 | 31.88 | -36.03 | 108.76 | 11.57 | 10.81 | -8.85 | -450.86 | -589.19 | 13.38 | 35.84 | 92.52 |
| 22Q1 (10) | 8.11 | 0.25 | 69.67 | 45.19 | -5.16 | 15.1 | 32.41 | 2.95 | 24.65 | 33.25 | 5.25 | 29.18 | 26.98 | 13.27 | 22.75 | 8.81 | -2.44 | -32.9 | 6.32 | 0.64 | -28.91 | 0.23 | -11.54 | -42.5 | 34.80 | 6.07 | 28.79 | 39.84 | 0.25 | -17.07 | 97.48 | -2.18 | -3.46 | 2.52 | 617.17 | 360.09 | 9.85 | -24.29 | -7.77 |
| 21Q4 (9) | 8.09 | -25.78 | 200.74 | 47.65 | -3.93 | 72.71 | 31.48 | -14.62 | 109.17 | 31.59 | -15.4 | 104.07 | 23.82 | -23.31 | 74.63 | 9.03 | -46.85 | -2.27 | 6.28 | -40.7 | 4.49 | 0.26 | -23.53 | -40.91 | 32.81 | -14.33 | 93.11 | 39.74 | -18.68 | -16.69 | 99.65 | 0.9 | 2.56 | 0.35 | -71.64 | -87.62 | 13.01 | 27.42 | 97.12 |
| 21Q3 (8) | 10.90 | 3.02 | 1393.15 | 49.60 | 5.13 | 157.93 | 36.87 | -2.72 | 631.55 | 37.34 | -3.26 | 655.87 | 31.06 | -5.51 | 648.43 | 16.99 | -30.62 | 511.15 | 10.59 | -28.06 | 498.31 | 0.34 | -24.44 | -19.05 | 38.30 | -3.36 | 491.96 | 48.87 | -40.5 | -21.51 | 98.76 | 0.62 | -3.24 | 1.24 | -31.44 | 159.96 | 10.21 | 46.91 | -1.92 |
| 21Q2 (7) | 10.58 | 121.34 | 4308.33 | 47.18 | 20.17 | 167.76 | 37.90 | 45.77 | 2329.49 | 38.60 | 49.96 | 1396.12 | 32.87 | 49.55 | 1465.24 | 24.49 | 86.52 | 2086.61 | 14.72 | 65.58 | 1889.19 | 0.45 | 12.5 | 32.35 | 39.63 | 46.67 | 757.79 | 82.13 | 70.96 | 54.06 | 98.15 | -2.8 | 64.54 | 1.81 | 286.54 | -95.52 | 6.95 | -34.93 | 0 |
| 21Q1 (6) | 4.78 | 77.7 | 1065.85 | 39.26 | 42.3 | 94.26 | 26.00 | 72.76 | 760.93 | 25.74 | 66.28 | 657.06 | 21.98 | 61.14 | 584.74 | 13.13 | 42.1 | 663.37 | 8.89 | 47.92 | 686.73 | 0.40 | -9.09 | 17.65 | 27.02 | 59.03 | 397.61 | 48.04 | 0.71 | -25.46 | 100.97 | 3.92 | 13.79 | -0.97 | -134.13 | -108.61 | 10.68 | 61.82 | -16.89 |
| 20Q4 (5) | 2.69 | 268.49 | 827.59 | 27.59 | 43.47 | 50.93 | 15.05 | 198.61 | 481.08 | 15.48 | 213.36 | 674.0 | 13.64 | 228.67 | 588.89 | 9.24 | 232.37 | 651.22 | 6.01 | 239.55 | 632.93 | 0.44 | 4.76 | 12.82 | 16.99 | 162.6 | 396.78 | 47.70 | -23.39 | -10.44 | 97.16 | -4.81 | -25.14 | 2.84 | 237.36 | 109.54 | 6.60 | -36.6 | -39.34 |
| 20Q3 (4) | 0.73 | 204.17 | 0.0 | 19.23 | 9.14 | 0.0 | 5.04 | 223.08 | 0.0 | 4.94 | 91.47 | 0.0 | 4.15 | 97.62 | 0.0 | 2.78 | 148.21 | 0.0 | 1.77 | 139.19 | 0.0 | 0.42 | 23.53 | 0.0 | 6.47 | 40.04 | 0.0 | 62.26 | 16.79 | 0.0 | 102.07 | 71.12 | 0.0 | -2.07 | -105.13 | 0.0 | 10.41 | 0 | 0.0 |
| 20Q2 (3) | 0.24 | -41.46 | 0.0 | 17.62 | -12.82 | 0.0 | 1.56 | -48.34 | 0.0 | 2.58 | -24.12 | 0.0 | 2.10 | -34.58 | 0.0 | 1.12 | -34.88 | 0.0 | 0.74 | -34.51 | 0.0 | 0.34 | 0.0 | 0.0 | 4.62 | -14.92 | 0.0 | 53.31 | -17.28 | 0.0 | 59.65 | -32.78 | 0.0 | 40.35 | 258.11 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.41 | 41.38 | 0.0 | 20.21 | 10.56 | 0.0 | 3.02 | 16.6 | 0.0 | 3.40 | 70.0 | 0.0 | 3.21 | 62.12 | 0.0 | 1.72 | 39.84 | 0.0 | 1.13 | 37.8 | 0.0 | 0.34 | -12.82 | 0.0 | 5.43 | 58.77 | 0.0 | 64.45 | 21.01 | 0.0 | 88.73 | -31.63 | 0.0 | 11.27 | 137.83 | 0.0 | 12.85 | 18.11 | 0.0 |
| 19Q4 (1) | 0.29 | 0.0 | 0.0 | 18.28 | 0.0 | 0.0 | 2.59 | 0.0 | 0.0 | 2.00 | 0.0 | 0.0 | 1.98 | 0.0 | 0.0 | 1.23 | 0.0 | 0.0 | 0.82 | 0.0 | 0.0 | 0.39 | 0.0 | 0.0 | 3.42 | 0.0 | 0.0 | 53.26 | 0.0 | 0.0 | 129.79 | 0.0 | 0.0 | -29.79 | 0.0 | 0.0 | 10.88 | 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) | 13.29 | -19.41 | 32.43 | -10.69 | 14.40 | -26.75 | 2.63 | 56.61 | 17.20 | -14.43 | 14.53 | -12.52 | 11.18 | -34.12 | 9.42 | -28.74 | 0.65 | -17.72 | 20.51 | -7.7 | 17.34 | -14.96 | 83.73 | -14.39 | 16.27 | 631.59 | 0.25 | -23.24 | 13.37 | 3.89 |
| 2022 (9) | 16.49 | -51.26 | 36.31 | -22.13 | 19.66 | -41.75 | 1.68 | 79.73 | 20.10 | -40.97 | 16.61 | -40.55 | 16.97 | -68.58 | 13.22 | -65.34 | 0.79 | -41.91 | 22.22 | -36.79 | 20.39 | -48.69 | 97.80 | -1.31 | 2.22 | 151.04 | 0.33 | -67.54 | 12.87 | 25.93 |
| 2021 (8) | 33.83 | 731.2 | 46.63 | 113.02 | 33.75 | 362.96 | 0.94 | -35.97 | 34.05 | 342.78 | 27.94 | 315.16 | 54.01 | 274.29 | 38.14 | 292.79 | 1.36 | -4.9 | 35.15 | 273.54 | 39.74 | -16.69 | 99.10 | 4.47 | 0.89 | -82.77 | 1.02 | -60.06 | 10.22 | 3.65 |
| 2020 (7) | 4.07 | 111.98 | 21.89 | 9.89 | 7.29 | 89.35 | 1.46 | 45.6 | 7.69 | 94.68 | 6.73 | 99.7 | 14.43 | 75.76 | 9.71 | 81.84 | 1.43 | -3.38 | 9.41 | 75.56 | 47.70 | -10.44 | 94.86 | -2.73 | 5.14 | 106.88 | 2.55 | -28.9 | 9.86 | -11.01 |
| 2019 (6) | 1.92 | -20.99 | 19.92 | -1.04 | 3.85 | -23.31 | 1.00 | 241.72 | 3.95 | -18.56 | 3.37 | -14.25 | 8.21 | -25.97 | 5.34 | -13.31 | 1.48 | 0.0 | 5.36 | -2.55 | 53.26 | -30.32 | 97.51 | -5.78 | 2.49 | 0 | 3.58 | 15.83 | 11.08 | 3.17 |
| 2018 (5) | 2.43 | 118.92 | 20.13 | 7.25 | 5.02 | 94.57 | 0.29 | -29.8 | 4.85 | 83.02 | 3.93 | 92.65 | 11.09 | 96.28 | 6.16 | 103.97 | 1.48 | 6.47 | 5.50 | 65.66 | 76.43 | -30.76 | 103.50 | 6.29 | -3.50 | 0 | 3.09 | -11.64 | 10.74 | -7.25 |
| 2017 (4) | 1.11 | -53.56 | 18.77 | -5.82 | 2.58 | -49.61 | 0.42 | -19.77 | 2.65 | -50.65 | 2.04 | -55.75 | 5.65 | -56.97 | 3.02 | -59.46 | 1.39 | -12.58 | 3.32 | -45.3 | 110.39 | 24.97 | 97.37 | 2.33 | 2.63 | -42.57 | 3.50 | 0 | 11.58 | 5.46 |
| 2016 (3) | 2.39 | 3.91 | 19.93 | -4.82 | 5.12 | -5.54 | 0.52 | -4.29 | 5.37 | -6.12 | 4.61 | -7.06 | 13.13 | -5.95 | 7.45 | -9.15 | 1.59 | -2.45 | 6.07 | -6.9 | 88.33 | 28.5 | 95.15 | 0.66 | 4.58 | -11.67 | 0.00 | 0 | 10.98 | -1.61 |
| 2015 (2) | 2.30 | 35.29 | 20.94 | 12.16 | 5.42 | 16.81 | 0.54 | 19.54 | 5.72 | 15.56 | 4.96 | 17.81 | 13.96 | 18.31 | 8.20 | 23.49 | 1.63 | 5.84 | 6.52 | 11.07 | 68.74 | -12.15 | 94.52 | 0.31 | 5.19 | -15.71 | 0.00 | 0 | 11.16 | 16.25 |
| 2014 (1) | 1.70 | 70.0 | 18.67 | 0 | 4.64 | 0 | 0.46 | 22.52 | 4.95 | 0 | 4.21 | 0 | 11.80 | 0 | 6.64 | 0 | 1.54 | 22.22 | 5.87 | 38.12 | 78.25 | -10.46 | 94.23 | 6.74 | 6.15 | -43.74 | 0.00 | 0 | 9.60 | -5.23 |
