- 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) | 9.57 | 34.6 | 24.12 | 42.53 | 0.26 | -2.79 | 17.12 | 31.09 | 8.63 | 19.38 | 25.52 | 8.88 | 17.31 | 19.05 | 4.78 | 3.49 | 34.23 | 11.5 | 3.01 | 33.19 | 11.48 | 0.17 | 6.25 | 6.25 | 23.29 | 15.99 | 3.97 | 14.91 | -11.3 | -0.6 | 88.39 | 4.48 | -0.1 | 11.61 | -24.62 | 0.79 | 18.90 | -14.52 | -7.26 |
| 24Q2 (19) | 7.11 | -1.39 | 30.7 | 42.42 | -0.98 | -3.5 | 13.06 | -4.74 | 1.32 | 15.44 | -2.22 | 3.9 | 14.54 | -3.2 | 8.35 | 2.60 | -6.81 | 12.55 | 2.26 | -5.44 | 12.44 | 0.16 | 0.0 | 6.67 | 20.08 | 0.1 | -1.76 | 16.81 | 21.02 | -2.55 | 84.60 | -2.62 | -2.46 | 15.40 | 17.33 | 16.09 | 22.11 | -2.08 | -7.37 |
| 24Q1 (18) | 7.21 | -10.77 | 59.87 | 42.84 | -0.86 | -2.75 | 13.71 | -13.94 | 15.4 | 15.79 | -12.38 | 20.08 | 15.02 | -10.06 | 29.26 | 2.79 | -13.08 | 42.35 | 2.39 | -12.77 | 43.98 | 0.16 | 0.0 | 14.29 | 20.06 | -10.69 | 8.73 | 13.89 | -27.73 | 15.17 | 86.88 | -1.71 | -3.74 | 13.12 | 13.02 | 34.59 | 22.58 | 16.99 | -11.69 |
| 23Q4 (17) | 8.08 | 4.8 | 42.0 | 43.21 | -1.23 | -1.88 | 15.93 | 1.08 | 15.27 | 18.02 | 1.24 | 15.59 | 16.70 | 1.09 | 16.95 | 3.21 | 2.56 | 37.18 | 2.74 | 1.48 | 42.71 | 0.16 | 0.0 | 23.08 | 22.46 | 0.27 | 7.26 | 19.22 | 28.13 | -21.49 | 88.39 | -0.11 | -0.36 | 11.61 | 0.83 | 2.84 | 19.30 | -5.3 | -17.31 |
| 23Q3 (16) | 7.71 | 41.73 | -37.72 | 43.75 | -0.48 | -3.36 | 15.76 | 22.27 | -31.33 | 17.80 | 19.78 | -25.02 | 16.52 | 23.1 | -23.55 | 3.13 | 35.5 | -37.27 | 2.70 | 34.33 | -31.82 | 0.16 | 6.67 | -11.11 | 22.40 | 9.59 | -18.1 | 15.00 | -13.04 | -24.55 | 88.48 | 2.02 | -8.49 | 11.52 | -13.18 | 248.65 | 20.38 | -14.62 | 15.6 |
| 23Q2 (15) | 5.44 | 20.62 | -75.83 | 43.96 | -0.2 | -6.94 | 12.89 | 8.5 | -57.94 | 14.86 | 13.0 | -51.92 | 13.42 | 15.49 | -52.28 | 2.31 | 17.86 | -76.92 | 2.01 | 21.08 | -74.46 | 0.15 | 7.14 | -46.43 | 20.44 | 10.79 | -39.08 | 17.25 | 43.03 | -46.92 | 86.74 | -3.89 | -12.55 | 13.26 | 36.03 | 1439.31 | 23.87 | -6.65 | 75.9 |
| 23Q1 (14) | 4.51 | -20.74 | -78.43 | 44.05 | 0.02 | -7.88 | 11.88 | -14.04 | -61.42 | 13.15 | -15.65 | -57.28 | 11.62 | -18.63 | -58.63 | 1.96 | -16.24 | -81.28 | 1.66 | -13.54 | -79.98 | 0.14 | 7.69 | -53.33 | 18.45 | -11.89 | -44.63 | 12.06 | -50.74 | -43.11 | 90.25 | 1.74 | -9.8 | 9.75 | -13.64 | 17796.25 | 25.57 | 9.55 | 77.57 |
| 22Q4 (13) | 5.69 | -54.04 | -69.24 | 44.04 | -2.72 | -8.97 | 13.82 | -39.78 | -54.6 | 15.59 | -34.33 | -48.63 | 14.28 | -33.92 | -47.27 | 2.34 | -53.11 | -76.02 | 1.92 | -51.52 | -75.19 | 0.13 | -27.78 | -55.17 | 20.94 | -23.44 | -37.38 | 24.48 | 23.14 | -24.35 | 88.71 | -8.26 | -11.51 | 11.29 | 241.85 | 3805.48 | 23.34 | 32.39 | 53.86 |
| 22Q3 (12) | 12.38 | -45.0 | -33.83 | 45.27 | -4.17 | -7.8 | 22.95 | -25.12 | -25.99 | 23.74 | -23.2 | -23.37 | 21.61 | -23.15 | -22.32 | 4.99 | -50.15 | -50.5 | 3.96 | -49.68 | -51.17 | 0.18 | -35.71 | -37.93 | 27.35 | -18.48 | -21.34 | 19.88 | -38.83 | -2.64 | 96.70 | -2.51 | -3.36 | 3.30 | 283.31 | 5566.06 | 17.63 | 29.92 | 14.63 |
| 22Q2 (11) | 22.51 | 7.65 | 40.86 | 47.24 | -1.21 | -0.84 | 30.65 | -0.45 | 7.02 | 30.91 | 0.42 | 8.19 | 28.12 | 0.11 | 9.33 | 10.01 | -4.39 | 9.28 | 7.87 | -5.07 | 6.93 | 0.28 | -6.67 | -3.45 | 33.55 | 0.69 | 2.13 | 32.50 | 53.3 | 13.0 | 99.19 | -0.87 | -1.02 | 0.86 | 1663.86 | 502.38 | 13.57 | -5.76 | -14.17 |
| 22Q1 (10) | 20.91 | 13.03 | 59.25 | 47.82 | -1.16 | 6.13 | 30.79 | 1.15 | 19.02 | 30.78 | 1.42 | 20.23 | 28.09 | 3.73 | 18.03 | 10.47 | 7.27 | 33.04 | 8.29 | 7.11 | 31.8 | 0.30 | 3.45 | 15.38 | 33.32 | -0.36 | 16.18 | 21.20 | -34.49 | 7.07 | 100.06 | -0.19 | -1.01 | -0.06 | 81.92 | 94.89 | 14.40 | -5.08 | -4.89 |
| 21Q4 (9) | 18.50 | -1.12 | 51.02 | 48.38 | -1.47 | 11.12 | 30.44 | -1.84 | 25.01 | 30.35 | -2.03 | 25.99 | 27.08 | -2.66 | 20.62 | 9.76 | -3.17 | 29.79 | 7.74 | -4.56 | 30.3 | 0.29 | 0.0 | 11.54 | 33.44 | -3.83 | 22.67 | 32.36 | 58.47 | 5.65 | 100.24 | 0.18 | -0.82 | -0.30 | -404.27 | 71.55 | 15.17 | -1.37 | -1.75 |
| 21Q3 (8) | 18.71 | 17.08 | 35.58 | 49.10 | 3.06 | 11.57 | 31.01 | 8.28 | 20.71 | 30.98 | 8.44 | 20.83 | 27.82 | 8.16 | 13.69 | 10.08 | 10.04 | 13.13 | 8.11 | 10.19 | 16.52 | 0.29 | 0.0 | 3.57 | 34.77 | 5.84 | 22.3 | 20.42 | -29.0 | -9.04 | 100.06 | -0.15 | -0.12 | -0.06 | 71.78 | 77.16 | 15.38 | -2.72 | -2.41 |
| 21Q2 (7) | 15.98 | 21.71 | 47.83 | 47.64 | 5.73 | 7.61 | 28.64 | 10.71 | 20.64 | 28.57 | 11.6 | 19.74 | 25.72 | 8.07 | 10.77 | 9.16 | 16.39 | 28.11 | 7.36 | 17.01 | 30.73 | 0.29 | 11.54 | 20.83 | 32.85 | 14.54 | 21.4 | 28.76 | 45.25 | -16.25 | 100.21 | -0.86 | 0.8 | -0.21 | 80.16 | -146.41 | 15.81 | 4.43 | 0 |
| 21Q1 (6) | 13.13 | 7.18 | 64.13 | 45.06 | 3.49 | 0.96 | 25.87 | 6.24 | 18.4 | 25.60 | 6.27 | 12.87 | 23.80 | 6.01 | 13.17 | 7.87 | 4.65 | 47.38 | 6.29 | 5.89 | 42.63 | 0.26 | 0.0 | 23.81 | 28.68 | 5.21 | 9.34 | 19.80 | -35.36 | -1.0 | 101.08 | 0.01 | 4.98 | -1.08 | -0.75 | -129.01 | 15.14 | -1.94 | 0 |
| 20Q4 (5) | 12.25 | -11.23 | 49.76 | 43.54 | -1.07 | -0.91 | 24.35 | -5.22 | 18.43 | 24.09 | -6.05 | 11.48 | 22.45 | -8.26 | 4.22 | 7.52 | -15.6 | 32.39 | 5.94 | -14.66 | 28.02 | 0.26 | -7.14 | 18.18 | 27.26 | -4.12 | 2.98 | 30.63 | 36.44 | 37.23 | 101.07 | 0.89 | 6.1 | -1.07 | -304.87 | -121.87 | 15.44 | -2.03 | -10.85 |
| 20Q3 (4) | 13.80 | 27.66 | 0.0 | 44.01 | -0.59 | 0.0 | 25.69 | 8.21 | 0.0 | 25.64 | 7.46 | 0.0 | 24.47 | 5.38 | 0.0 | 8.91 | 24.62 | 0.0 | 6.96 | 23.62 | 0.0 | 0.28 | 16.67 | 0.0 | 28.43 | 5.06 | 0.0 | 22.45 | -34.62 | 0.0 | 100.18 | 0.76 | 0.0 | -0.26 | -157.34 | 0.0 | 15.76 | 0 | 0.0 |
| 20Q2 (3) | 10.81 | 35.13 | 0.0 | 44.27 | -0.81 | 0.0 | 23.74 | 8.65 | 0.0 | 23.86 | 5.2 | 0.0 | 23.22 | 10.41 | 0.0 | 7.15 | 33.9 | 0.0 | 5.63 | 27.66 | 0.0 | 0.24 | 14.29 | 0.0 | 27.06 | 3.16 | 0.0 | 34.34 | 71.7 | 0.0 | 99.42 | 3.27 | 0.0 | 0.46 | -87.6 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 8.00 | -2.2 | 0.0 | 44.63 | 1.57 | 0.0 | 21.85 | 6.27 | 0.0 | 22.68 | 4.95 | 0.0 | 21.03 | -2.37 | 0.0 | 5.34 | -5.99 | 0.0 | 4.41 | -4.96 | 0.0 | 0.21 | -4.55 | 0.0 | 26.23 | -0.91 | 0.0 | 20.00 | -10.39 | 0.0 | 96.28 | 1.07 | 0.0 | 3.72 | -24.04 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 8.18 | 0.0 | 0.0 | 43.94 | 0.0 | 0.0 | 20.56 | 0.0 | 0.0 | 21.61 | 0.0 | 0.0 | 21.54 | 0.0 | 0.0 | 5.68 | 0.0 | 0.0 | 4.64 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 26.47 | 0.0 | 0.0 | 22.32 | 0.0 | 0.0 | 95.26 | 0.0 | 0.0 | 4.90 | 0.0 | 0.0 | 17.32 | 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) | 25.73 | -58.06 | 43.72 | -5.88 | 14.28 | -45.62 | 2.45 | 56.82 | 16.15 | -39.74 | 14.77 | -39.52 | 10.89 | -64.21 | 8.95 | -62.35 | 0.61 | -37.11 | 21.09 | -29.84 | 19.22 | -21.49 | 88.44 | -9.74 | 11.56 | 475.11 | 16.08 | -2.46 | 22.04 | 35.3 |
| 2022 (9) | 61.35 | -7.45 | 46.45 | -2.56 | 26.26 | -9.95 | 1.56 | 14.73 | 26.80 | -7.75 | 24.42 | -6.9 | 30.43 | -21.25 | 23.77 | -19.07 | 0.97 | -13.39 | 30.06 | -7.85 | 24.48 | -24.35 | 97.99 | -2.36 | 2.01 | 0 | 16.49 | -3.52 | 16.29 | 5.92 |
| 2021 (8) | 66.29 | 47.77 | 47.67 | 8.19 | 29.16 | 20.95 | 1.36 | 0.9 | 29.05 | 19.99 | 26.23 | 14.34 | 38.64 | 31.97 | 29.37 | 27.09 | 1.12 | 10.89 | 32.62 | 19.27 | 32.36 | 5.65 | 100.36 | 0.77 | -0.36 | 0 | 17.09 | -19.79 | 15.38 | -3.33 |
| 2020 (7) | 44.86 | 42.23 | 44.06 | 3.19 | 24.11 | 18.77 | 1.35 | -14.39 | 24.21 | 13.66 | 22.94 | 11.31 | 29.28 | 26.21 | 23.11 | 22.53 | 1.01 | 9.78 | 27.35 | 7.55 | 30.63 | 37.23 | 99.59 | 4.5 | 0.41 | -91.35 | 21.30 | 23.55 | 15.91 | -4.04 |
| 2019 (6) | 31.54 | 22.87 | 42.70 | 2.94 | 20.30 | 7.81 | 1.57 | 66.54 | 21.30 | 12.22 | 20.61 | 8.47 | 23.20 | 6.62 | 18.86 | 8.33 | 0.92 | 0.0 | 25.43 | 13.83 | 22.32 | -6.18 | 95.31 | -3.96 | 4.69 | 476.57 | 17.24 | -18.94 | 16.58 | 2.73 |
| 2018 (5) | 25.67 | 0.71 | 41.48 | 2.55 | 18.83 | -1.0 | 0.95 | 35.95 | 18.98 | -0.26 | 19.00 | 1.82 | 21.76 | -10.56 | 17.41 | -7.83 | 0.92 | -8.91 | 22.34 | 1.87 | 23.79 | -9.95 | 99.24 | -0.71 | 0.81 | 701.22 | 21.27 | 0 | 16.14 | 4.33 |
| 2017 (4) | 25.49 | 41.3 | 40.45 | -1.49 | 19.02 | 16.54 | 0.70 | -9.51 | 19.03 | 15.75 | 18.66 | 25.32 | 24.33 | 25.28 | 18.89 | 25.85 | 1.01 | 0.0 | 21.93 | 11.49 | 26.42 | -15.89 | 99.95 | 0.62 | 0.10 | -84.8 | 0.00 | 0 | 15.47 | -9.69 |
| 2016 (3) | 18.04 | 17.91 | 41.06 | 1.78 | 16.32 | -3.03 | 0.77 | -9.41 | 16.44 | -4.59 | 14.89 | -6.47 | 19.42 | 0.83 | 15.01 | -3.16 | 1.01 | 4.12 | 19.67 | 2.55 | 31.41 | 13.97 | 99.33 | 1.71 | 0.67 | -71.46 | 0.00 | 0 | 17.13 | 6.53 |
| 2015 (2) | 15.30 | -7.16 | 40.34 | -2.25 | 16.83 | -20.76 | 0.85 | 32.05 | 17.23 | -20.64 | 15.92 | -19.15 | 19.26 | -26.04 | 15.50 | -27.23 | 0.97 | -10.19 | 19.18 | -14.34 | 27.56 | 35.36 | 97.66 | -0.2 | 2.34 | 9.04 | 0.00 | 0 | 16.08 | 21.54 |
| 2014 (1) | 16.48 | 78.16 | 41.27 | 0 | 21.24 | 0 | 0.64 | -20.4 | 21.71 | 0 | 19.69 | 0 | 26.04 | 0 | 21.30 | 0 | 1.08 | 14.89 | 22.39 | 18.47 | 20.36 | -17.77 | 97.85 | -2.28 | 2.15 | 0 | 0.00 | 0 | 13.23 | -12.85 |
