- 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) | 1.30 | -7.14 | -19.25 | 37.08 | -0.43 | 2.04 | 15.82 | 8.36 | -0.57 | 14.51 | -9.09 | -12.06 | 12.40 | -11.3 | -12.12 | 4.38 | -11.69 | -22.2 | 2.86 | -6.23 | -19.21 | 0.23 | 4.55 | -8.0 | 20.97 | -7.86 | -5.33 | 50.31 | -16.55 | -7.69 | 108.97 | 19.15 | 13.05 | -8.97 | -205.13 | -348.72 | 19.58 | -5.55 | 7.17 |
| 24Q2 (19) | 1.40 | 26.13 | -4.11 | 37.24 | 5.74 | 7.63 | 14.60 | 15.14 | -3.82 | 15.96 | 13.76 | 2.57 | 13.98 | 16.31 | 5.11 | 4.96 | 29.84 | -8.15 | 3.05 | 24.49 | -6.44 | 0.22 | 10.0 | -8.33 | 22.76 | 6.9 | 6.26 | 60.29 | -11.88 | -10.42 | 91.46 | 1.37 | -6.41 | 8.54 | -12.66 | 275.61 | 20.73 | -2.26 | 18.66 |
| 24Q1 (18) | 1.11 | 4.72 | 15.63 | 35.22 | 0.17 | 9.07 | 12.68 | -7.98 | 6.2 | 14.03 | 14.07 | 19.3 | 12.02 | 10.17 | 17.38 | 3.82 | 8.22 | 9.77 | 2.45 | 3.38 | 10.86 | 0.20 | -4.76 | -4.76 | 21.29 | 11.23 | 14.4 | 68.42 | 42.27 | 2.09 | 90.23 | -18.99 | -11.34 | 9.77 | 180.15 | 652.26 | 21.21 | 6.85 | 18.1 |
| 23Q4 (17) | 1.06 | -34.16 | 24.71 | 35.16 | -3.25 | 7.69 | 13.78 | -13.39 | 21.2 | 12.30 | -25.45 | 11.41 | 10.91 | -22.68 | 14.6 | 3.53 | -37.3 | 17.28 | 2.37 | -33.05 | 16.75 | 0.21 | -16.0 | 0.0 | 19.14 | -13.59 | 9.68 | 48.09 | -11.76 | -8.57 | 111.38 | 15.55 | 8.17 | -12.20 | -437.98 | -310.57 | 19.85 | 8.65 | 7.01 |
| 23Q3 (16) | 1.61 | 10.27 | 373.53 | 36.34 | 5.03 | 33.75 | 15.91 | 4.81 | 591.74 | 16.50 | 6.04 | 189.98 | 14.11 | 6.09 | 190.33 | 5.63 | 4.26 | 354.03 | 3.54 | 8.59 | 337.04 | 0.25 | 4.17 | 56.25 | 22.15 | 3.41 | 62.87 | 54.50 | -19.02 | 12.98 | 96.39 | -1.37 | 132.47 | 3.61 | 58.76 | -94.08 | 18.27 | 4.58 | -13.45 |
| 23Q2 (15) | 1.46 | 52.08 | 7.35 | 34.60 | 7.15 | -0.49 | 15.18 | 27.14 | 5.71 | 15.56 | 32.31 | -0.38 | 13.30 | 29.88 | -0.37 | 5.40 | 55.17 | 16.88 | 3.26 | 47.51 | 11.26 | 0.24 | 14.29 | 9.09 | 21.42 | 15.1 | 2.49 | 67.30 | 0.42 | -1.29 | 97.73 | -3.97 | 6.14 | 2.27 | 228.41 | -71.33 | 17.47 | -2.73 | 3.56 |
| 23Q1 (14) | 0.96 | 12.94 | -39.62 | 32.29 | -1.1 | 0.47 | 11.94 | 5.01 | -14.22 | 11.76 | 6.52 | -21.34 | 10.24 | 7.56 | -25.04 | 3.48 | 15.61 | -32.95 | 2.21 | 8.87 | -36.13 | 0.21 | 0.0 | -16.0 | 18.61 | 6.65 | -4.91 | 67.02 | 27.41 | 33.35 | 101.77 | -1.17 | 9.08 | -1.77 | 40.41 | -126.4 | 17.96 | -3.18 | 21.43 |
| 22Q4 (13) | 0.85 | 150.0 | -47.85 | 32.65 | 20.17 | -4.62 | 11.37 | 394.35 | -29.16 | 11.04 | 94.02 | -32.72 | 9.52 | 95.88 | -33.7 | 3.01 | 142.74 | -46.44 | 2.03 | 150.62 | -44.69 | 0.21 | 31.25 | -16.0 | 17.45 | 28.31 | -16.83 | 52.60 | 9.04 | 1.96 | 102.97 | 148.34 | 5.72 | -2.97 | -104.87 | -242.57 | 18.55 | -12.13 | 22.77 |
| 22Q3 (12) | 0.34 | -75.0 | -81.62 | 27.17 | -21.86 | -25.03 | 2.30 | -83.98 | -86.96 | 5.69 | -63.57 | -69.06 | 4.86 | -63.6 | -69.79 | 1.24 | -73.16 | -81.68 | 0.81 | -72.35 | -80.67 | 0.16 | -27.27 | -38.46 | 13.60 | -34.93 | -40.56 | 48.24 | -29.25 | -14.1 | 41.46 | -54.97 | -56.74 | 60.98 | 669.23 | 1370.19 | 21.11 | 25.13 | 37.88 |
| 22Q2 (11) | 1.36 | -14.47 | -13.38 | 34.77 | 8.18 | -3.31 | 14.36 | 3.16 | -16.22 | 15.62 | 4.48 | -7.35 | 13.35 | -2.27 | -9.55 | 4.62 | -10.98 | -17.2 | 2.93 | -15.32 | -17.7 | 0.22 | -12.0 | -8.33 | 20.90 | 6.8 | -5.39 | 68.18 | 35.65 | -1.36 | 92.07 | -1.31 | -9.4 | 7.93 | 18.24 | 586.18 | 16.87 | 14.06 | 10.19 |
| 22Q1 (10) | 1.59 | -2.45 | 0.63 | 32.14 | -6.11 | -11.68 | 13.92 | -13.27 | -19.12 | 14.95 | -8.9 | -10.26 | 13.66 | -4.87 | -9.36 | 5.19 | -7.65 | -4.42 | 3.46 | -5.72 | -5.72 | 0.25 | 0.0 | 4.17 | 19.57 | -6.72 | -10.84 | 50.26 | -2.58 | 6.51 | 93.30 | -4.21 | -9.73 | 6.70 | 221.79 | 300.0 | 14.79 | -2.12 | -5.25 |
| 21Q4 (9) | 1.63 | -11.89 | 13.19 | 34.23 | -5.55 | -4.65 | 16.05 | -9.01 | -5.53 | 16.41 | -10.77 | 0.31 | 14.36 | -10.75 | 0.28 | 5.62 | -16.99 | 7.46 | 3.67 | -12.41 | 5.16 | 0.25 | -3.85 | 4.17 | 20.98 | -8.3 | -4.11 | 51.59 | -8.14 | 3.28 | 97.40 | 1.61 | -6.48 | 2.08 | -49.77 | 150.3 | 15.11 | -1.31 | -4.43 |
| 21Q3 (8) | 1.85 | 17.83 | 20.92 | 36.24 | 0.78 | 2.69 | 17.64 | 2.92 | 5.5 | 18.39 | 9.07 | 12.34 | 16.09 | 9.01 | 10.97 | 6.77 | 21.33 | 15.33 | 4.19 | 17.7 | 15.43 | 0.26 | 8.33 | 4.0 | 22.88 | 3.58 | 5.78 | 56.16 | -18.75 | 8.67 | 95.85 | -5.69 | -6.27 | 4.15 | 354.38 | 283.53 | 15.31 | 0.0 | 2.13 |
| 21Q2 (7) | 1.57 | -0.63 | 3.97 | 35.96 | -1.18 | 0.9 | 17.14 | -0.41 | -0.64 | 16.86 | 1.2 | 2.24 | 14.76 | -2.06 | 2.86 | 5.58 | 2.76 | 0.0 | 3.56 | -3.0 | 0.85 | 0.24 | 0.0 | 0.0 | 22.09 | 0.64 | 1.52 | 69.12 | 46.47 | -7.15 | 101.63 | -1.67 | -2.74 | -1.63 | 51.36 | 63.72 | 15.31 | -1.92 | 1.32 |
| 21Q1 (6) | 1.58 | 9.72 | -5.39 | 36.39 | 1.36 | -0.14 | 17.21 | 1.29 | -0.58 | 16.66 | 1.83 | -6.98 | 15.07 | 5.24 | -3.27 | 5.43 | 3.82 | -9.2 | 3.67 | 5.16 | -10.71 | 0.24 | 0.0 | -7.69 | 21.95 | 0.32 | -4.48 | 47.19 | -5.53 | 2.92 | 103.35 | -0.76 | 6.6 | -3.35 | 19.07 | -194.33 | 15.61 | -1.27 | 3.72 |
| 20Q4 (5) | 1.44 | -5.88 | -14.29 | 35.90 | 1.73 | -3.57 | 16.99 | 1.61 | -7.61 | 16.36 | -0.06 | -7.36 | 14.32 | -1.24 | -7.79 | 5.23 | -10.9 | -18.15 | 3.49 | -3.86 | -18.65 | 0.24 | -4.0 | -14.29 | 21.88 | 1.16 | -2.45 | 49.95 | -3.35 | 7.28 | 104.14 | 1.84 | 0.06 | -4.14 | -83.28 | -1.48 | 15.81 | 5.47 | 12.69 |
| 20Q3 (4) | 1.53 | 1.32 | 0.0 | 35.29 | -0.98 | 0.0 | 16.72 | -3.07 | 0.0 | 16.37 | -0.73 | 0.0 | 14.50 | 1.05 | 0.0 | 5.87 | 5.2 | 0.0 | 3.63 | 2.83 | 0.0 | 0.25 | 4.17 | 0.0 | 21.63 | -0.6 | 0.0 | 51.68 | -30.57 | 0.0 | 102.26 | -2.14 | 0.0 | -2.26 | 49.72 | 0.0 | 14.99 | -0.79 | 0.0 |
| 20Q2 (3) | 1.51 | -9.58 | 0.0 | 35.64 | -2.2 | 0.0 | 17.25 | -0.35 | 0.0 | 16.49 | -7.93 | 0.0 | 14.35 | -7.89 | 0.0 | 5.58 | -6.69 | 0.0 | 3.53 | -14.11 | 0.0 | 0.24 | -7.69 | 0.0 | 21.76 | -5.31 | 0.0 | 74.44 | 62.36 | 0.0 | 104.49 | 7.78 | 0.0 | -4.49 | -226.48 | 0.0 | 15.11 | 0.4 | 0.0 |
| 20Q1 (2) | 1.67 | -0.6 | 0.0 | 36.44 | -2.12 | 0.0 | 17.31 | -5.87 | 0.0 | 17.91 | 1.42 | 0.0 | 15.58 | 0.32 | 0.0 | 5.98 | -6.42 | 0.0 | 4.11 | -4.2 | 0.0 | 0.26 | -7.14 | 0.0 | 22.98 | 2.45 | 0.0 | 45.85 | -1.52 | 0.0 | 96.95 | -6.85 | 0.0 | 3.55 | 187.06 | 0.0 | 15.05 | 7.27 | 0.0 |
| 19Q4 (1) | 1.68 | 0.0 | 0.0 | 37.23 | 0.0 | 0.0 | 18.39 | 0.0 | 0.0 | 17.66 | 0.0 | 0.0 | 15.53 | 0.0 | 0.0 | 6.39 | 0.0 | 0.0 | 4.29 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 22.43 | 0.0 | 0.0 | 46.56 | 0.0 | 0.0 | 104.08 | 0.0 | 0.0 | -4.08 | 0.0 | 0.0 | 14.03 | 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) | 5.10 | 22.89 | 34.69 | 8.27 | 14.32 | 27.18 | 6.03 | 7.52 | 14.20 | 13.78 | 12.27 | 11.95 | 17.21 | 21.45 | 11.57 | 23.09 | 0.93 | 9.41 | 20.47 | 11.8 | 48.09 | -8.57 | 100.99 | 11.83 | -0.83 | 0 | 0.04 | -3.06 | 18.36 | 5.4 |
| 2022 (9) | 4.15 | -37.31 | 32.04 | -10.23 | 11.26 | -33.8 | 5.61 | 18.77 | 12.48 | -27.02 | 10.96 | -27.32 | 14.17 | -37.85 | 9.40 | -38.12 | 0.85 | -15.0 | 18.31 | -16.7 | 52.60 | 1.96 | 90.31 | -9.22 | 9.69 | 1770.31 | 0.04 | -31.11 | 17.42 | 13.63 |
| 2021 (8) | 6.62 | 7.64 | 35.69 | -0.36 | 17.01 | -0.35 | 4.72 | -7.42 | 17.10 | 1.85 | 15.08 | 2.65 | 22.80 | 2.61 | 15.19 | 0.86 | 1.00 | -1.96 | 21.98 | -0.41 | 51.59 | 3.28 | 99.48 | -2.15 | 0.52 | 0 | 0.06 | -6.47 | 15.33 | 0.66 |
| 2020 (7) | 6.15 | -2.84 | 35.82 | 3.17 | 17.07 | 2.77 | 5.10 | 15.49 | 16.79 | 1.14 | 14.69 | 2.3 | 22.22 | -7.26 | 15.06 | -8.17 | 1.02 | -10.53 | 22.07 | 4.4 | 49.95 | 7.28 | 101.66 | 1.66 | -1.66 | 0 | 0.07 | -6.23 | 15.23 | 5.98 |
| 2019 (6) | 6.33 | -0.78 | 34.72 | 2.94 | 16.61 | -1.31 | 4.41 | 10.68 | 16.60 | -2.98 | 14.36 | -3.36 | 23.96 | -9.31 | 16.40 | -7.92 | 1.14 | -5.0 | 21.14 | -0.09 | 46.56 | -1.08 | 100.00 | 1.62 | 0.00 | 0 | 0.07 | -4.59 | 14.37 | 0.0 |
| 2018 (5) | 6.38 | 25.84 | 33.73 | 14.38 | 16.83 | 21.87 | 3.99 | 2.1 | 17.11 | 25.16 | 14.86 | 23.12 | 26.42 | 24.04 | 17.81 | 25.16 | 1.20 | 1.69 | 21.16 | 19.75 | 47.07 | -5.92 | 98.41 | -2.5 | 1.72 | 0 | 0.08 | 0 | 14.37 | 4.97 |
| 2017 (4) | 5.07 | 34.13 | 29.49 | 12.17 | 13.81 | 26.23 | 3.91 | -11.07 | 13.67 | 23.82 | 12.07 | 23.67 | 21.30 | 23.12 | 14.23 | 28.08 | 1.18 | 4.42 | 17.67 | 13.41 | 50.03 | -0.2 | 100.93 | 1.95 | -0.93 | 0 | 0.00 | 0 | 13.69 | 1.86 |
| 2016 (3) | 3.78 | 32.17 | 26.29 | 1.12 | 10.94 | 21.69 | 4.39 | 10.72 | 11.04 | 21.59 | 9.76 | 23.54 | 17.30 | 24.91 | 11.11 | 32.58 | 1.13 | 8.65 | 15.58 | 17.76 | 50.13 | -22.28 | 99.00 | -0.02 | 1.00 | 2.33 | 0.00 | 0 | 13.44 | -2.33 |
| 2015 (2) | 2.86 | -12.0 | 26.00 | -1.48 | 8.99 | -12.21 | 3.97 | 7.43 | 9.08 | -13.36 | 7.90 | -13.38 | 13.85 | -14.4 | 8.38 | -14.58 | 1.04 | -2.8 | 13.23 | -7.61 | 64.50 | -9.47 | 99.02 | 1.35 | 0.98 | -57.37 | 0.00 | 0 | 13.76 | 10.26 |
| 2014 (1) | 3.25 | -29.65 | 26.39 | 0 | 10.24 | 0 | 3.69 | 18.03 | 10.48 | 0 | 9.12 | 0 | 16.18 | 0 | 9.81 | 0 | 1.07 | -12.3 | 14.32 | -15.37 | 71.25 | 15.87 | 97.71 | -1.09 | 2.29 | 88.35 | 0.00 | 0 | 12.48 | 2.63 |
