- 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) | 1.93 | 1.05 | 40.88 | 46.02 | 4.73 | 8.97 | 22.17 | 8.68 | 32.6 | 24.20 | 0.33 | 24.23 | 18.68 | 2.02 | 21.38 | 5.48 | -5.03 | 30.17 | 4.03 | -2.42 | 27.94 | 0.22 | -4.35 | 10.0 | 27.05 | 0.07 | 16.8 | 31.99 | -20.86 | 23.18 | 91.25 | 7.35 | 4.56 | 8.75 | -41.67 | -39.84 | 22.31 | -0.62 | -4.62 |
| 24Q2 (19) | 1.91 | 107.61 | 103.19 | 43.94 | 9.88 | 10.29 | 20.40 | 52.69 | 43.66 | 24.12 | 48.61 | 66.46 | 18.31 | 58.12 | 78.81 | 5.77 | 108.3 | 93.62 | 4.13 | 96.67 | 102.45 | 0.23 | 27.78 | 15.0 | 27.03 | 34.61 | 51.26 | 40.42 | 3.3 | -3.67 | 85.00 | 2.5 | -12.93 | 15.00 | -12.14 | 530.0 | 22.45 | -10.45 | -2.39 |
| 24Q1 (18) | 0.92 | -21.37 | -13.21 | 39.99 | -9.09 | -4.74 | 13.36 | -34.64 | -6.96 | 16.23 | -14.89 | -4.19 | 11.58 | -6.46 | -7.06 | 2.77 | -19.94 | -14.77 | 2.10 | -23.36 | -8.7 | 0.18 | -18.18 | 0.0 | 20.08 | -10.83 | -3.18 | 39.13 | 47.22 | -23.32 | 82.93 | -22.42 | -2.19 | 17.07 | 347.56 | 12.2 | 25.07 | 27.19 | -1.49 |
| 23Q4 (17) | 1.17 | -14.6 | -14.6 | 43.99 | 4.17 | 1.88 | 20.44 | 22.25 | 17.61 | 19.07 | -2.1 | -1.85 | 12.38 | -19.56 | -8.09 | 3.46 | -17.81 | -15.4 | 2.74 | -13.02 | -10.16 | 0.22 | 10.0 | -4.35 | 22.52 | -2.76 | -0.35 | 26.58 | 2.35 | -20.06 | 106.90 | 22.49 | 20.26 | -6.90 | -147.41 | -162.07 | 19.71 | -15.73 | -23.07 |
| 23Q3 (16) | 1.37 | 45.74 | -17.96 | 42.23 | 6.0 | 3.68 | 16.72 | 17.75 | -8.38 | 19.48 | 34.44 | -8.03 | 15.39 | 50.29 | -8.34 | 4.21 | 41.28 | -20.27 | 3.15 | 54.41 | -16.0 | 0.20 | 0.0 | -9.09 | 23.16 | 29.6 | -4.65 | 25.97 | -38.11 | -27.21 | 87.27 | -10.6 | 0.82 | 14.55 | 510.91 | 8.28 | 23.39 | 1.7 | -0.76 |
| 23Q2 (15) | 0.94 | -11.32 | -31.39 | 39.84 | -5.1 | -0.62 | 14.20 | -1.11 | -19.95 | 14.49 | -14.46 | -20.34 | 10.24 | -17.82 | -22.31 | 2.98 | -8.31 | -24.37 | 2.04 | -11.3 | -27.14 | 0.20 | 11.11 | -4.76 | 17.87 | -13.84 | -16.22 | 41.96 | -17.77 | -9.06 | 97.62 | 15.14 | 1.3 | 2.38 | -84.35 | 30.95 | 23.00 | -9.63 | 2.86 |
| 23Q1 (14) | 1.06 | -22.63 | -42.39 | 41.98 | -2.78 | 12.76 | 14.36 | -17.38 | -12.49 | 16.94 | -12.82 | -17.08 | 12.46 | -7.5 | -18.83 | 3.25 | -20.54 | -38.91 | 2.30 | -24.59 | -40.87 | 0.18 | -21.74 | -28.0 | 20.74 | -8.23 | -11.14 | 51.03 | 53.47 | 41.59 | 84.78 | -4.62 | 5.61 | 15.22 | 36.96 | -22.83 | 25.45 | -0.66 | 20.67 |
| 22Q4 (13) | 1.37 | -17.96 | 20.18 | 43.18 | 6.02 | 14.38 | 17.38 | -4.77 | 15.25 | 19.43 | -8.26 | 32.81 | 13.47 | -19.77 | 32.97 | 4.09 | -22.54 | 18.55 | 3.05 | -18.67 | 23.98 | 0.23 | 4.55 | -4.17 | 22.60 | -6.96 | 28.85 | 33.25 | -6.81 | -13.19 | 88.89 | 2.68 | -12.93 | 11.11 | -17.28 | 633.33 | 25.62 | 8.7 | 6.93 |
| 22Q3 (12) | 1.67 | 21.9 | 20.14 | 40.73 | 1.6 | 6.68 | 18.25 | 2.87 | 4.76 | 21.18 | 16.44 | 24.73 | 16.79 | 27.39 | 29.75 | 5.28 | 34.01 | 23.94 | 3.75 | 33.93 | 22.55 | 0.22 | 4.76 | -8.33 | 24.29 | 13.88 | 20.31 | 35.68 | -22.67 | -16.3 | 86.57 | -10.17 | -15.04 | 13.43 | 638.81 | 811.94 | 23.57 | 5.41 | 15.65 |
| 22Q2 (11) | 1.37 | -25.54 | 1.48 | 40.09 | 7.68 | 4.84 | 17.74 | 8.1 | 7.13 | 18.19 | -10.96 | 16.9 | 13.18 | -14.14 | 16.74 | 3.94 | -25.94 | 9.14 | 2.80 | -28.02 | 5.26 | 0.21 | -16.0 | -8.7 | 21.33 | -8.61 | 12.62 | 46.14 | 28.02 | 26.34 | 96.36 | 20.03 | -9.42 | 1.82 | -90.78 | 128.48 | 22.36 | 6.02 | 3.28 |
| 22Q1 (10) | 1.84 | 61.4 | 76.92 | 37.23 | -1.38 | 1.72 | 16.41 | 8.82 | 27.7 | 20.43 | 39.64 | 62.53 | 15.35 | 51.53 | 59.56 | 5.32 | 54.2 | 85.37 | 3.89 | 58.13 | 82.63 | 0.25 | 4.17 | 13.64 | 23.34 | 33.07 | 44.79 | 36.04 | -5.9 | -1.04 | 80.28 | -21.36 | -22.01 | 19.72 | 1046.48 | 770.42 | 21.09 | -11.98 | -10.18 |
| 21Q4 (9) | 1.14 | -17.99 | 1.79 | 37.75 | -1.13 | 2.58 | 15.08 | -13.43 | 15.91 | 14.63 | -13.84 | 15.11 | 10.13 | -21.72 | 5.74 | 3.45 | -19.01 | 8.83 | 2.46 | -19.61 | 3.36 | 0.24 | 0.0 | -4.0 | 17.54 | -13.13 | 9.69 | 38.30 | -10.16 | 9.3 | 102.08 | 0.19 | -0.6 | -2.08 | -10.42 | 22.92 | 23.96 | 17.57 | 1.23 |
| 21Q3 (8) | 1.39 | 2.96 | -11.46 | 38.18 | -0.16 | -3.71 | 17.42 | 5.19 | -0.85 | 16.98 | 9.13 | -10.96 | 12.94 | 14.61 | -10.82 | 4.26 | 18.01 | -8.58 | 3.06 | 15.04 | -9.2 | 0.24 | 4.35 | 4.35 | 20.19 | 6.6 | -11.1 | 42.63 | 16.73 | 25.75 | 101.89 | -4.23 | 10.38 | -1.89 | 70.44 | -124.53 | 20.38 | -5.87 | 0.79 |
| 21Q2 (7) | 1.35 | 29.81 | 92.86 | 38.24 | 4.48 | -0.91 | 16.56 | 28.87 | 15.08 | 15.56 | 23.79 | 29.24 | 11.29 | 17.36 | 37.52 | 3.61 | 25.78 | 75.24 | 2.66 | 24.88 | 77.33 | 0.23 | 4.55 | 27.78 | 18.94 | 17.49 | 16.91 | 36.52 | 0.27 | -19.38 | 106.38 | 3.34 | -10.78 | -6.38 | -117.02 | 66.81 | 21.65 | -7.79 | 0 |
| 21Q1 (6) | 1.04 | -7.14 | 181.08 | 36.60 | -0.54 | -6.92 | 12.85 | -1.23 | 47.36 | 12.57 | -1.1 | 91.32 | 9.62 | 0.42 | 112.83 | 2.87 | -9.46 | 173.33 | 2.13 | -10.5 | 169.62 | 0.22 | -12.0 | 29.41 | 16.12 | 0.81 | 43.67 | 36.42 | 3.94 | 6.34 | 102.94 | 0.23 | -19.93 | -2.94 | -8.82 | 89.71 | 23.48 | -0.8 | -15.17 |
| 20Q4 (5) | 1.12 | -28.66 | -20.57 | 36.80 | -7.19 | -4.27 | 13.01 | -25.95 | -23.96 | 12.71 | -33.35 | -17.2 | 9.58 | -33.98 | -14.39 | 3.17 | -31.97 | -20.95 | 2.38 | -29.38 | -16.49 | 0.25 | 8.7 | 0.0 | 15.99 | -29.59 | -12.19 | 35.04 | 3.36 | -7.4 | 102.70 | 11.26 | -6.99 | -2.70 | -135.14 | 78.38 | 23.67 | 17.06 | 34.72 |
| 20Q3 (4) | 1.57 | 124.29 | 0.0 | 39.65 | 2.75 | 0.0 | 17.57 | 22.1 | 0.0 | 19.07 | 58.39 | 0.0 | 14.51 | 76.74 | 0.0 | 4.66 | 126.21 | 0.0 | 3.37 | 124.67 | 0.0 | 0.23 | 27.78 | 0.0 | 22.71 | 40.19 | 0.0 | 33.90 | -25.17 | 0.0 | 92.31 | -22.58 | 0.0 | 7.69 | 140.0 | 0.0 | 20.22 | 0 | 0.0 |
| 20Q2 (3) | 0.70 | 89.19 | 0.0 | 38.59 | -1.86 | 0.0 | 14.39 | 65.02 | 0.0 | 12.04 | 83.26 | 0.0 | 8.21 | 81.64 | 0.0 | 2.06 | 96.19 | 0.0 | 1.50 | 89.87 | 0.0 | 0.18 | 5.88 | 0.0 | 16.20 | 44.39 | 0.0 | 45.30 | 32.26 | 0.0 | 119.23 | -7.26 | 0.0 | -19.23 | 32.69 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.37 | -73.76 | 0.0 | 39.32 | 2.29 | 0.0 | 8.72 | -49.04 | 0.0 | 6.57 | -57.2 | 0.0 | 4.52 | -59.61 | 0.0 | 1.05 | -73.82 | 0.0 | 0.79 | -72.28 | 0.0 | 0.17 | -32.0 | 0.0 | 11.22 | -38.39 | 0.0 | 34.25 | -9.49 | 0.0 | 128.57 | 16.44 | 0.0 | -28.57 | -128.57 | 0.0 | 27.68 | 57.54 | 0.0 |
| 19Q4 (1) | 1.41 | 0.0 | 0.0 | 38.44 | 0.0 | 0.0 | 17.11 | 0.0 | 0.0 | 15.35 | 0.0 | 0.0 | 11.19 | 0.0 | 0.0 | 4.01 | 0.0 | 0.0 | 2.85 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 18.21 | 0.0 | 0.0 | 37.84 | 0.0 | 0.0 | 110.42 | 0.0 | 0.0 | -12.50 | 0.0 | 0.0 | 17.57 | 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) | 4.54 | -23.7 | 42.03 | 4.42 | 16.50 | -5.28 | 3.48 | 18.01 | 17.51 | -11.74 | 12.60 | -14.46 | 13.23 | -28.18 | 10.20 | -25.0 | 0.81 | -11.96 | 21.08 | -7.71 | 26.58 | -20.06 | 94.03 | 7.04 | 5.97 | -50.89 | 1.51 | -0.22 | 22.81 | -1.38 |
| 2022 (9) | 5.95 | 29.07 | 40.25 | 6.68 | 17.42 | 12.03 | 2.95 | -3.36 | 19.84 | 32.27 | 14.73 | 33.54 | 18.42 | 29.08 | 13.60 | 29.77 | 0.92 | -3.16 | 22.84 | 25.15 | 33.25 | -13.19 | 87.84 | -14.96 | 12.16 | 0 | 1.52 | -7.78 | 23.13 | 3.49 |
| 2021 (8) | 4.61 | 22.61 | 37.73 | -2.0 | 15.55 | 13.67 | 3.06 | -16.15 | 15.00 | 15.03 | 11.03 | 15.02 | 14.27 | 34.75 | 10.48 | 33.5 | 0.95 | 17.28 | 18.25 | 7.99 | 38.30 | 9.3 | 103.30 | -1.29 | -3.85 | 0 | 1.64 | -12.92 | 22.35 | -3.83 |
| 2020 (7) | 3.76 | -21.67 | 38.50 | -4.25 | 13.68 | -10.59 | 3.64 | 15.31 | 13.04 | -12.78 | 9.59 | -13.6 | 10.59 | -22.13 | 7.85 | -20.87 | 0.81 | -7.95 | 16.90 | -8.15 | 35.04 | -7.4 | 104.65 | 2.11 | -4.65 | 0 | 1.89 | -4.01 | 23.24 | 6.22 |
| 2019 (6) | 4.80 | -14.29 | 40.21 | -0.64 | 15.30 | -3.71 | 3.16 | 65.89 | 14.95 | -13.48 | 11.10 | -15.4 | 13.60 | -16.26 | 9.92 | -14.04 | 0.88 | 1.15 | 18.40 | -5.74 | 37.84 | -4.37 | 102.48 | 11.08 | -2.48 | 0 | 1.97 | -4.55 | 21.88 | 0.97 |
| 2018 (5) | 5.60 | 10.02 | 40.47 | 4.22 | 15.89 | 9.21 | 1.90 | -10.74 | 17.28 | 14.59 | 13.12 | 8.88 | 16.24 | 8.48 | 11.54 | 8.05 | 0.87 | 0.0 | 19.52 | 11.8 | 39.57 | -11.93 | 92.27 | -4.66 | 8.29 | 156.91 | 2.06 | 0 | 21.67 | 1.12 |
| 2017 (4) | 5.09 | 19.76 | 38.83 | 2.94 | 14.55 | -7.38 | 2.13 | -13.58 | 15.08 | 6.5 | 12.05 | 9.45 | 14.97 | 19.09 | 10.68 | 16.98 | 0.87 | 6.1 | 17.46 | 2.83 | 44.93 | 15.21 | 96.77 | -12.71 | 3.23 | 0 | 0.00 | 0 | 21.43 | 17.1 |
| 2016 (3) | 4.25 | -37.59 | 37.72 | -5.53 | 15.71 | -22.61 | 2.47 | 7.95 | 14.16 | -30.55 | 11.01 | -29.87 | 12.57 | -38.2 | 9.13 | -34.22 | 0.82 | -5.75 | 16.98 | -26.65 | 39.00 | -3.06 | 110.87 | 11.37 | -10.87 | 0 | 0.00 | 0 | 18.30 | 5.78 |
| 2015 (2) | 6.81 | -9.44 | 39.93 | 4.23 | 20.30 | 21.56 | 2.29 | 28.82 | 20.39 | 9.39 | 15.70 | 7.76 | 20.34 | -13.08 | 13.88 | -6.66 | 0.87 | -13.0 | 23.15 | 11.19 | 40.23 | -29.62 | 99.55 | 11.09 | 0.45 | -95.68 | 0.00 | 0 | 17.30 | -15.32 |
| 2014 (1) | 7.52 | 20.32 | 38.31 | 0 | 16.70 | 0 | 1.78 | 13.52 | 18.64 | 0 | 14.57 | 0 | 23.40 | 0 | 14.87 | 0 | 1.00 | 11.11 | 20.82 | -2.12 | 57.16 | -9.34 | 89.61 | 16.11 | 10.39 | -54.48 | 0.00 | 0 | 20.43 | -1.83 |
