- 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) | 2.42 | 28.04 | 2.98 | 58.88 | -3.57 | -8.29 | 33.32 | 37.69 | 3.51 | 32.00 | 17.26 | -9.58 | 25.66 | -5.49 | -9.58 | 5.86 | 21.07 | 0.51 | 4.68 | 30.73 | 1.3 | 0.18 | 38.46 | 12.5 | 32.91 | 15.47 | -9.21 | 15.56 | -56.14 | -20.08 | 103.98 | 17.77 | 14.04 | -3.98 | -133.96 | -145.08 | 18.84 | -3.38 | -3.98 |
| 24Q2 (19) | 1.89 | -2.58 | 1.61 | 61.06 | -6.35 | 1.56 | 24.20 | -26.53 | -1.1 | 27.29 | -29.52 | -0.73 | 27.15 | -12.64 | 0.97 | 4.84 | 1.68 | -1.43 | 3.58 | -6.04 | -2.45 | 0.13 | 8.33 | -7.14 | 28.50 | -28.95 | 0.49 | 35.48 | 2.37 | 4.97 | 88.29 | 3.74 | 0.0 | 11.71 | -21.36 | 8.33 | 19.50 | -18.75 | -8.41 |
| 24Q1 (18) | 1.94 | -7.18 | 81.31 | 65.20 | -0.14 | 19.55 | 32.94 | -2.34 | 48.98 | 38.72 | 16.63 | 62.14 | 31.08 | 13.51 | 62.72 | 4.76 | -3.45 | 77.61 | 3.81 | -9.07 | 78.04 | 0.12 | -20.0 | 9.09 | 40.11 | 16.4 | 60.44 | 34.66 | 106.8 | 3.4 | 85.11 | -16.6 | -8.98 | 14.89 | 1194.68 | 91.13 | 24.00 | 4.8 | -3.96 |
| 23Q4 (17) | 2.09 | -11.06 | 50.36 | 65.29 | 1.7 | 19.71 | 33.73 | 4.78 | 42.2 | 33.20 | -6.19 | 17.65 | 27.38 | -3.52 | 20.19 | 4.93 | -15.44 | 50.76 | 4.19 | -9.31 | 49.11 | 0.15 | -6.25 | 25.0 | 34.46 | -4.94 | 17.89 | 16.76 | -13.92 | -6.16 | 102.04 | 11.92 | 21.71 | -1.36 | -115.42 | -108.42 | 22.90 | 16.72 | -8.36 |
| 23Q3 (16) | 2.35 | 26.34 | 1075.0 | 64.20 | 6.79 | 21.61 | 32.19 | 31.55 | 473.8 | 35.39 | 28.74 | 407.02 | 28.38 | 5.54 | 408.6 | 5.83 | 18.74 | 1089.8 | 4.62 | 25.89 | 1148.65 | 0.16 | 14.29 | 128.57 | 36.25 | 27.82 | 316.67 | 19.47 | -42.4 | 32.27 | 91.18 | 3.27 | 6.37 | 8.82 | -18.38 | -58.82 | 19.62 | -7.84 | -47.33 |
| 23Q2 (15) | 1.86 | 73.83 | -13.08 | 60.12 | 10.23 | -5.56 | 24.47 | 10.67 | -24.43 | 27.49 | 15.12 | -18.28 | 26.89 | 40.79 | -0.07 | 4.91 | 83.21 | -8.74 | 3.67 | 71.5 | 2.23 | 0.14 | 27.27 | 7.69 | 28.36 | 13.44 | -17.46 | 33.80 | 0.84 | -30.06 | 88.29 | -5.58 | -8.11 | 10.81 | 38.74 | 175.68 | 21.29 | -14.81 | -20.97 |
| 23Q1 (14) | 1.07 | -23.02 | -61.92 | 54.54 | 0.0 | -18.5 | 22.11 | -6.79 | -39.95 | 23.88 | -15.38 | -36.56 | 19.10 | -16.15 | -36.57 | 2.68 | -18.04 | -60.06 | 2.14 | -23.84 | -55.79 | 0.11 | -8.33 | -31.25 | 25.00 | -14.47 | -34.93 | 33.52 | 87.68 | -35.05 | 93.51 | 11.53 | -4.59 | 7.79 | -51.79 | 289.61 | 24.99 | 0.0 | -4.73 |
| 22Q4 (13) | 1.39 | 595.0 | -50.18 | 54.54 | 3.32 | -15.89 | 23.72 | 322.82 | -30.15 | 28.22 | 304.3 | -18.32 | 22.78 | 308.24 | -21.48 | 3.27 | 567.35 | -45.86 | 2.81 | 659.46 | -41.58 | 0.12 | 71.43 | -29.41 | 29.23 | 235.98 | -16.96 | 17.86 | 21.33 | -34.96 | 83.84 | -2.19 | -14.73 | 16.16 | -24.58 | 864.31 | 24.99 | -32.91 | -0.56 |
| 22Q3 (12) | 0.20 | -90.65 | -92.91 | 52.79 | -17.08 | -18.12 | 5.61 | -82.67 | -83.27 | 6.98 | -79.25 | -80.01 | 5.58 | -79.26 | -80.03 | 0.49 | -90.89 | -94.27 | 0.37 | -89.69 | -93.79 | 0.07 | -46.15 | -66.67 | 8.70 | -74.68 | -75.44 | 14.72 | -69.54 | -36.91 | 85.71 | -10.79 | -10.6 | 21.43 | 446.43 | 419.64 | 37.25 | 38.27 | 47.47 |
| 22Q2 (11) | 2.14 | -23.84 | -40.88 | 63.66 | -4.87 | 0.65 | 32.38 | -12.06 | -9.65 | 33.64 | -10.63 | -5.88 | 26.91 | -10.63 | -5.97 | 5.38 | -19.82 | -60.87 | 3.59 | -25.83 | -59.02 | 0.13 | -18.75 | -58.06 | 34.36 | -10.57 | -5.21 | 48.33 | -6.36 | -41.04 | 96.08 | -1.96 | -3.92 | 3.92 | 96.08 | 1013.73 | 26.94 | 2.71 | 22.23 |
| 22Q1 (10) | 2.81 | 0.72 | 0.36 | 66.92 | 3.21 | 13.02 | 36.82 | 8.42 | 16.22 | 37.64 | 8.94 | 18.03 | 30.11 | 3.79 | 18.17 | 6.71 | 11.09 | -35.29 | 4.84 | 0.62 | -35.03 | 0.16 | -5.88 | -44.83 | 38.42 | 9.15 | 18.62 | 51.61 | 87.95 | 44.32 | 98.00 | -0.33 | -1.45 | 2.00 | 19.33 | 260.0 | 26.23 | 4.38 | 17.15 |
| 21Q4 (9) | 2.79 | -1.06 | -13.08 | 64.84 | 0.57 | 5.36 | 33.96 | 1.28 | -4.55 | 34.55 | -1.06 | -2.43 | 29.01 | 3.83 | 2.47 | 6.04 | -29.36 | -55.26 | 4.81 | -19.3 | -49.05 | 0.17 | -19.05 | -48.48 | 35.20 | -0.65 | -1.98 | 27.46 | 17.7 | -36.48 | 98.32 | 2.55 | -2.15 | 1.68 | -59.36 | 445.25 | 25.13 | -0.51 | 15.22 |
| 21Q3 (8) | 2.82 | -22.1 | -10.48 | 64.47 | 1.93 | 16.14 | 33.53 | -6.45 | -1.99 | 34.92 | -2.29 | 1.69 | 27.94 | -2.38 | 1.45 | 8.55 | -37.82 | -44.48 | 5.96 | -31.96 | -41.05 | 0.21 | -32.26 | -43.24 | 35.43 | -2.26 | 1.81 | 23.33 | -71.54 | -45.68 | 95.88 | -4.12 | -3.65 | 4.12 | 1060.82 | 732.99 | 25.26 | 14.61 | 47.46 |
| 21Q2 (7) | 3.62 | 29.29 | 66.82 | 63.25 | 6.82 | 16.08 | 35.84 | 13.13 | 22.32 | 35.74 | 12.07 | 19.77 | 28.62 | 12.32 | 14.71 | 13.75 | 32.59 | 20.4 | 8.76 | 17.58 | 11.73 | 0.31 | 6.9 | 0.0 | 36.25 | 11.92 | 19.4 | 81.97 | 129.22 | 29.43 | 100.00 | 0.56 | 2.29 | -0.43 | -177.25 | -128.76 | 22.04 | -1.56 | -0.54 |
| 21Q1 (6) | 2.80 | -12.77 | 0 | 59.21 | -3.79 | 0 | 31.68 | -10.96 | 0 | 31.89 | -9.94 | 0 | 25.48 | -10.0 | 0 | 10.37 | -23.19 | 0 | 7.45 | -21.08 | 0 | 0.29 | -12.12 | 0 | 32.39 | -9.8 | 0 | 35.76 | -17.28 | 0 | 99.44 | -1.04 | 0 | 0.56 | 214.44 | 0 | 22.39 | 2.66 | 0 |
| 20Q4 (5) | 3.21 | 1.9 | 0 | 61.54 | 10.86 | 0 | 35.58 | 4.0 | 0 | 35.41 | 3.12 | 0 | 28.31 | 2.8 | 0 | 13.50 | -12.34 | 0 | 9.44 | -6.63 | 0 | 0.33 | -10.81 | 0 | 35.91 | 3.19 | 0 | 43.23 | 0.65 | 0 | 100.49 | 0.99 | 0 | -0.49 | -198.06 | 0 | 21.81 | 27.32 | 0 |
| 20Q3 (4) | 3.15 | 45.16 | 0.0 | 55.51 | 1.87 | 0.0 | 34.21 | 16.76 | 0.0 | 34.34 | 15.08 | 0.0 | 27.54 | 10.38 | 0.0 | 15.40 | 34.85 | 0.0 | 10.11 | 28.95 | 0.0 | 0.37 | 19.35 | 0.0 | 34.80 | 14.62 | 0.0 | 42.95 | -32.18 | 0.0 | 99.50 | 1.78 | 0.0 | 0.50 | -66.83 | 0.0 | 17.13 | -22.7 | 0.0 |
| 20Q2 (3) | 2.17 | 0 | 0.0 | 54.49 | 0 | 0.0 | 29.30 | 0 | 0.0 | 29.84 | 0 | 0.0 | 24.95 | 0 | 0.0 | 11.42 | 0 | 0.0 | 7.84 | 0 | 0.0 | 0.31 | 0 | 0.0 | 30.36 | 0 | 0.0 | 63.33 | 0 | 0.0 | 97.76 | 0 | 0.0 | 1.49 | 0 | 0.0 | 22.16 | 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) | 7.36 | 12.88 | 61.60 | 0.56 | 28.74 | 1.38 | 0.61 | 3.84 | 30.61 | 1.32 | 25.93 | 7.1 | 17.10 | 15.85 | 14.60 | 21.36 | 0.56 | 12.0 | 31.64 | 1.87 | 16.76 | -6.16 | 93.86 | 0.09 | 6.14 | -1.36 | 0.64 | 213.77 | 21.96 | -20.55 |
| 2022 (9) | 6.52 | -44.89 | 61.26 | -2.62 | 28.35 | -16.2 | 0.58 | 66.93 | 30.21 | -11.98 | 24.21 | -12.82 | 14.76 | -54.82 | 12.03 | -51.14 | 0.50 | -43.82 | 31.06 | -10.95 | 17.86 | -34.96 | 93.78 | -4.89 | 6.22 | 344.11 | 0.21 | 68.85 | 27.64 | 17.07 |
| 2021 (8) | 11.83 | 30.14 | 62.91 | 10.16 | 33.83 | 7.47 | 0.35 | -29.14 | 34.32 | 8.26 | 27.77 | 8.31 | 32.67 | -20.84 | 24.62 | -17.33 | 0.89 | -23.28 | 34.88 | 8.02 | 27.46 | -36.48 | 98.60 | -0.71 | 1.40 | 102.48 | 0.12 | -61.96 | 23.61 | 12.11 |
| 2020 (7) | 9.09 | 244.32 | 57.11 | 17.22 | 31.48 | 91.14 | 0.49 | -41.65 | 31.70 | 81.35 | 25.64 | 78.93 | 41.27 | 178.29 | 29.78 | 164.24 | 1.16 | 48.72 | 32.29 | 74.54 | 43.23 | 32.89 | 99.31 | 5.04 | 0.69 | -88.58 | 0.32 | 0 | 21.06 | -9.73 |
| 2019 (6) | 2.64 | 123.73 | 48.72 | 17.45 | 16.47 | 126.55 | 0.85 | 606.98 | 17.48 | 104.21 | 14.33 | 97.38 | 14.83 | 105.12 | 11.27 | 101.97 | 0.78 | 1.3 | 18.50 | 109.04 | 32.53 | 2.98 | 94.55 | 11.59 | 6.06 | -60.33 | 0.00 | 0 | 23.33 | -3.71 |
| 2018 (5) | 1.18 | 0 | 41.48 | 5.65 | 7.27 | 267.17 | 0.12 | -18.54 | 8.56 | 10600.0 | 7.26 | 0 | 7.23 | 0 | 5.58 | 0 | 0.77 | 22.22 | 8.85 | 1911.36 | 31.59 | 12.82 | 84.72 | -93.48 | 15.28 | 0 | 0.00 | 0 | 24.23 | -3.58 |
| 2017 (4) | -0.04 | 0 | 39.26 | -11.76 | 1.98 | -68.92 | 0.15 | -64.9 | 0.08 | -98.23 | -0.30 | 0 | -0.24 | 0 | -0.18 | 0 | 0.63 | -5.97 | 0.44 | -91.7 | 28.00 | -3.65 | 1300.00 | 804.35 | -1300.00 | 0 | 0.00 | 0 | 25.13 | 7.85 |
| 2016 (3) | 0.54 | 671.43 | 44.49 | 10.73 | 6.37 | 1149.02 | 0.42 | -36.57 | 4.51 | 767.31 | 3.82 | 788.37 | 3.19 | 717.95 | 2.56 | 700.0 | 0.67 | -8.22 | 5.30 | 208.14 | 29.06 | 39.71 | 143.75 | 43.75 | -40.62 | 0 | 0.00 | 0 | 23.30 | -4.47 |
| 2015 (2) | 0.07 | -63.16 | 40.18 | 6.13 | 0.51 | 537.5 | 0.66 | -11.61 | 0.52 | -53.57 | 0.43 | -57.84 | 0.39 | -66.09 | 0.32 | -64.84 | 0.73 | -17.05 | 1.72 | -40.28 | 20.80 | -12.9 | 100.00 | 1000.0 | 0.00 | 0 | 0.00 | 0 | 24.39 | 6.65 |
| 2014 (1) | 0.19 | 0 | 37.86 | 0 | 0.08 | 0 | 0.75 | 0 | 1.12 | 0 | 1.02 | 0 | 1.15 | 0 | 0.91 | 0 | 0.88 | 0 | 2.88 | 0 | 23.88 | 0 | 9.09 | 0 | 90.91 | 0 | 0.00 | 0 | 22.87 | 0 |
