- 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) | 1.47 | -6.96 | -10.91 | 54.84 | -2.04 | -5.79 | 35.30 | -7.86 | -7.91 | 43.23 | 6.14 | -10.03 | 36.46 | 12.84 | -8.02 | 5.20 | -3.7 | -12.75 | 4.39 | 2.33 | -13.75 | 0.12 | -7.69 | -7.69 | 49.24 | 6.4 | -8.59 | 21.54 | 27.15 | 27.0 | 81.82 | -12.88 | 2.44 | 18.18 | 198.99 | -9.7 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 1.58 | 64.58 | -21.39 | 55.98 | 18.2 | 0.79 | 38.31 | 33.39 | -1.77 | 40.73 | 27.36 | -14.52 | 32.31 | 26.46 | -17.87 | 5.40 | 64.63 | -23.51 | 4.29 | 65.64 | -24.87 | 0.13 | 30.0 | -7.14 | 46.28 | 18.03 | -12.75 | 16.94 | -54.58 | -8.33 | 93.92 | 4.48 | 14.09 | 6.08 | -39.86 | -66.76 | 22.35 | -16.32 | -0.62 |
| 24Q1 (18) | 0.96 | -46.07 | 41.18 | 47.36 | -16.81 | -5.28 | 28.72 | -30.59 | 10.55 | 31.98 | -25.65 | 24.19 | 25.55 | -27.66 | 23.55 | 3.28 | -45.7 | 37.82 | 2.59 | -49.71 | 33.51 | 0.10 | -33.33 | 11.11 | 39.21 | -18.53 | 16.07 | 37.30 | 102.72 | 24.5 | 89.89 | -6.63 | -11.66 | 10.11 | 171.35 | 676.4 | 26.71 | 21.08 | -11.5 |
| 23Q4 (17) | 1.78 | 7.88 | 9.2 | 56.93 | -2.2 | -1.37 | 41.38 | 7.96 | 11.18 | 43.01 | -10.49 | 3.74 | 35.32 | -10.9 | 3.4 | 6.04 | 1.34 | 7.47 | 5.15 | 1.18 | 8.88 | 0.15 | 15.38 | 7.14 | 48.13 | -10.66 | 3.68 | 18.40 | 8.49 | -6.65 | 96.27 | 20.54 | 7.6 | 3.73 | -81.49 | -64.6 | 22.06 | -13.79 | 9.37 |
| 23Q3 (16) | 1.65 | -17.91 | 61.76 | 58.21 | 4.81 | 1.48 | 38.33 | -1.72 | -0.73 | 48.05 | 0.84 | 31.72 | 39.64 | 0.76 | 41.42 | 5.96 | -15.58 | 61.52 | 5.09 | -10.86 | 61.59 | 0.13 | -7.14 | 18.18 | 53.87 | 1.56 | 26.4 | 16.96 | -8.23 | -12.49 | 79.87 | -2.98 | -24.38 | 20.13 | 10.07 | 458.39 | 25.59 | 13.78 | -2.66 |
| 23Q2 (15) | 2.01 | 195.59 | 905.0 | 55.54 | 11.08 | 7.41 | 39.00 | 50.12 | 12.1 | 47.65 | 85.05 | 330.05 | 39.34 | 90.23 | 702.86 | 7.06 | 196.64 | 828.95 | 5.71 | 194.33 | 806.35 | 0.14 | 55.56 | 16.67 | 53.04 | 57.02 | 231.29 | 18.48 | -38.32 | 15.5 | 82.32 | -19.1 | -73.96 | 18.29 | 1142.68 | 108.46 | 22.49 | -25.48 | 6.84 |
| 23Q1 (14) | 0.68 | -58.28 | -20.93 | 50.00 | -13.37 | 0.08 | 25.98 | -30.2 | -8.3 | 25.75 | -37.89 | -29.18 | 20.68 | -39.46 | -32.4 | 2.38 | -57.65 | -21.97 | 1.94 | -58.99 | -20.49 | 0.09 | -35.71 | 12.5 | 33.78 | -27.23 | -22.15 | 29.96 | 52.0 | -16.34 | 101.75 | 13.73 | 32.47 | -1.75 | -116.67 | -108.07 | 30.18 | 49.63 | -4.34 |
| 22Q4 (13) | 1.63 | 59.8 | 26.36 | 57.72 | 0.63 | -7.46 | 37.22 | -3.6 | -8.14 | 41.46 | 13.65 | 1.02 | 34.16 | 21.87 | 2.86 | 5.62 | 52.3 | 6.84 | 4.73 | 50.16 | 7.26 | 0.14 | 27.27 | 7.69 | 46.42 | 8.92 | 0.93 | 19.71 | 1.7 | 18.02 | 89.47 | -15.29 | -9.59 | 10.53 | 287.37 | 921.05 | 20.17 | -23.28 | -23.94 |
| 22Q3 (12) | 1.02 | 410.0 | 54.55 | 57.36 | 10.93 | 33.02 | 38.61 | 10.98 | 61.35 | 36.48 | 229.24 | 59.09 | 28.03 | 472.04 | 52.92 | 3.69 | 385.53 | -7.29 | 3.15 | 400.0 | -0.94 | 0.11 | -8.33 | -35.29 | 42.62 | 166.21 | 50.23 | 19.38 | 21.12 | -25.46 | 105.62 | -66.59 | 1.48 | -5.62 | 97.4 | -37.64 | 26.29 | 24.89 | 0.0 |
| 22Q2 (11) | 0.20 | -76.74 | -80.77 | 51.71 | 3.5 | -9.98 | 34.79 | 22.8 | -1.81 | 11.08 | -69.53 | -66.36 | 4.90 | -83.98 | -81.95 | 0.76 | -75.08 | -88.5 | 0.63 | -74.18 | -87.52 | 0.12 | 50.0 | -36.84 | 16.01 | -63.1 | -58.23 | 16.00 | -55.32 | -39.65 | 316.13 | 311.56 | 192.71 | -216.13 | -1094.19 | -2601.61 | 21.05 | -33.28 | -17.13 |
| 22Q1 (10) | 0.86 | -33.33 | -48.19 | 49.96 | -19.9 | -4.05 | 28.33 | -30.08 | -20.2 | 36.36 | -11.4 | 3.44 | 30.59 | -7.89 | 8.78 | 3.05 | -42.02 | -59.22 | 2.44 | -44.67 | -56.12 | 0.08 | -38.46 | -60.0 | 43.39 | -5.65 | 7.56 | 35.81 | 114.43 | -3.03 | 76.81 | -22.39 | -24.09 | 21.74 | 2008.7 | 1926.09 | 31.55 | 18.97 | 29.46 |
| 21Q4 (9) | 1.29 | 95.45 | -39.72 | 62.37 | 44.64 | -0.7 | 40.52 | 69.33 | -3.04 | 41.04 | 78.98 | -0.19 | 33.21 | 81.18 | 1.37 | 5.26 | 32.16 | -52.7 | 4.41 | 38.68 | -42.58 | 0.13 | -23.53 | -43.48 | 45.99 | 62.11 | -1.1 | 16.70 | -35.77 | -50.74 | 98.97 | -4.91 | -2.01 | 1.03 | 125.26 | 151.55 | 26.52 | 0.87 | 0.08 |
| 21Q3 (8) | 0.66 | -36.54 | -30.53 | 43.12 | -24.93 | -16.85 | 23.93 | -32.46 | -10.71 | 22.93 | -30.39 | -11.12 | 18.33 | -32.49 | -10.76 | 3.98 | -39.79 | -42.65 | 3.18 | -37.03 | -25.7 | 0.17 | -10.53 | -15.0 | 28.37 | -25.98 | -12.9 | 26.00 | -1.92 | -61.24 | 104.08 | -3.63 | -0.35 | -4.08 | 48.98 | 8.16 | 26.29 | 3.5 | -18.23 |
| 21Q2 (7) | 1.04 | -37.35 | 166.67 | 57.44 | 10.31 | 35.54 | 35.43 | -0.2 | 219.19 | 32.94 | -6.29 | 184.21 | 27.15 | -3.45 | 176.2 | 6.61 | -11.63 | 122.56 | 5.05 | -9.17 | 185.31 | 0.19 | -5.0 | 11.76 | 38.33 | -4.98 | 101.21 | 26.51 | -28.22 | -58.18 | 108.00 | 6.73 | 14.75 | -8.00 | -572.0 | -236.0 | 25.40 | 4.23 | -30.68 |
| 21Q1 (6) | 1.66 | -22.43 | 0 | 52.07 | -17.1 | 0 | 35.50 | -15.05 | 0 | 35.15 | -14.52 | 0 | 28.12 | -14.16 | 0 | 7.48 | -32.73 | 0 | 5.56 | -27.6 | 0 | 0.20 | -13.04 | 0 | 40.34 | -13.25 | 0 | 36.93 | 8.94 | 0 | 101.19 | 0.19 | 0 | -1.19 | 40.48 | 0 | 24.37 | -8.04 | 0 |
| 20Q4 (5) | 2.14 | 125.26 | 0 | 62.81 | 21.11 | 0 | 41.79 | 55.93 | 0 | 41.12 | 59.38 | 0 | 32.76 | 59.49 | 0 | 11.12 | 60.23 | 0 | 7.68 | 79.44 | 0 | 0.23 | 15.0 | 0 | 46.50 | 42.77 | 0 | 33.90 | -49.46 | 0 | 101.00 | -3.3 | 0 | -2.00 | 55.0 | 0 | 26.50 | -17.57 | 0 |
| 20Q3 (4) | 0.95 | 143.59 | 0.0 | 51.86 | 22.37 | 0.0 | 26.80 | 141.44 | 0.0 | 25.80 | 122.61 | 0.0 | 20.54 | 108.95 | 0.0 | 6.94 | 133.67 | 0.0 | 4.28 | 141.81 | 0.0 | 0.20 | 17.65 | 0.0 | 32.57 | 70.97 | 0.0 | 67.08 | 5.82 | 0.0 | 104.44 | 10.97 | 0.0 | -4.44 | -175.56 | 0.0 | 32.15 | -12.25 | 0.0 |
| 20Q2 (3) | 0.39 | 0 | 0.0 | 42.38 | 0 | 0.0 | 11.10 | 0 | 0.0 | 11.59 | 0 | 0.0 | 9.83 | 0 | 0.0 | 2.97 | 0 | 0.0 | 1.77 | 0 | 0.0 | 0.17 | 0 | 0.0 | 19.05 | 0 | 0.0 | 63.39 | 0 | 0.0 | 94.12 | 0 | 0.0 | 5.88 | 0 | 0.0 | 36.64 | 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) | 5.88 | 58.49 | 55.63 | 1.91 | 37.23 | 5.59 | 5.52 | 7.71 | 42.47 | 36.56 | 34.90 | 44.75 | 20.49 | 63.66 | 17.31 | 62.23 | 0.49 | 11.36 | 48.44 | 31.95 | 18.40 | -6.65 | 87.76 | -22.58 | 12.43 | 0 | 0.34 | -19.0 | 24.50 | 2.38 |
| 2022 (9) | 3.71 | -8.17 | 54.59 | 1.15 | 35.26 | 3.49 | 5.12 | 2.08 | 31.10 | -6.49 | 24.11 | -10.37 | 12.52 | -27.17 | 10.67 | -24.7 | 0.44 | -15.38 | 36.71 | -4.9 | 19.71 | 18.02 | 113.35 | 10.81 | -13.35 | 0 | 0.42 | 380.85 | 23.93 | -6.63 |
| 2021 (8) | 4.04 | -8.6 | 53.97 | -1.05 | 34.07 | 16.48 | 5.02 | -11.46 | 33.26 | 19.17 | 26.90 | 15.7 | 17.19 | -24.93 | 14.17 | -12.85 | 0.52 | -24.64 | 38.60 | 12.6 | 16.70 | -50.74 | 102.30 | -2.65 | -2.30 | 0 | 0.09 | -65.57 | 25.63 | -19.48 |
| 2020 (7) | 4.42 | 15.1 | 54.54 | -0.07 | 29.25 | -8.42 | 5.67 | 40.41 | 27.91 | -5.33 | 23.25 | -5.95 | 22.90 | -22.48 | 16.26 | -19.58 | 0.69 | -14.81 | 34.28 | 0.71 | 33.90 | -42.32 | 105.08 | -3.01 | -4.57 | 0 | 0.25 | 0 | 31.83 | 5.92 |
| 2019 (6) | 3.84 | 163.01 | 54.58 | 13.38 | 31.94 | 56.34 | 4.04 | -2.89 | 29.48 | 71.0 | 24.72 | 76.57 | 29.54 | 123.28 | 20.22 | 112.84 | 0.81 | 20.9 | 34.04 | 53.61 | 58.77 | 79.45 | 108.33 | -9.23 | -8.33 | 0 | 0.00 | 0 | 30.05 | -19.67 |
| 2018 (5) | 1.46 | -3.95 | 48.14 | 13.7 | 20.43 | 12.62 | 4.16 | 26.57 | 17.24 | 16.33 | 14.00 | 6.06 | 13.23 | -17.31 | 9.50 | -13.48 | 0.67 | -17.28 | 22.16 | 20.24 | 32.75 | -37.33 | 119.35 | -2.2 | -17.74 | 0 | 0.00 | 0 | 37.41 | 24.12 |
| 2017 (4) | 1.52 | -51.9 | 42.34 | -23.27 | 18.14 | -49.86 | 3.28 | 58.04 | 14.82 | -53.47 | 13.20 | -58.45 | 16.00 | -63.83 | 10.98 | -61.94 | 0.81 | -8.99 | 18.43 | -46.92 | 52.26 | 9.01 | 122.03 | 7.03 | -22.03 | 0 | 0.00 | 0 | 30.14 | -4.04 |
| 2016 (3) | 3.16 | 345.07 | 55.18 | 7.29 | 36.18 | 148.66 | 2.08 | -48.42 | 31.85 | 119.81 | 31.77 | 118.5 | 44.23 | 156.55 | 28.85 | 172.43 | 0.89 | 32.84 | 34.72 | 72.48 | 47.94 | -30.74 | 114.02 | 14.02 | -14.02 | 0 | 0.00 | 0 | 31.41 | -47.7 |
| 2015 (2) | 0.71 | 0 | 51.43 | 172.55 | 14.55 | 0 | 4.03 | 14.77 | 14.49 | 0 | 14.54 | 0 | 17.24 | 0 | 10.59 | 0 | 0.67 | -22.99 | 20.13 | 0 | 69.22 | -27.23 | 100.00 | -2.94 | 0.00 | 0 | 0.00 | 0 | 60.06 | -4.12 |
| 2014 (1) | -1.20 | 0 | 18.87 | 0 | -30.24 | 0 | 3.51 | 0 | -28.75 | 0 | -28.75 | 0 | -46.60 | 0 | -24.41 | 0 | 0.87 | 0 | -22.81 | 0 | 95.12 | 0 | 103.03 | 0 | -6.06 | 0 | 0.00 | 0 | 62.64 | 0 |
