- 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) | 0.63 | 26.0 | -3.08 | 48.53 | 7.01 | 6.45 | 21.14 | 43.61 | 15.77 | 22.76 | 9.42 | -5.83 | 18.65 | 18.26 | -4.7 | 2.48 | 22.77 | -10.47 | 1.92 | 11.63 | -18.3 | 0.10 | -9.09 | -16.67 | 29.13 | 5.35 | -6.36 | 39.61 | 100.86 | 143.75 | 94.23 | 32.51 | 24.11 | 7.69 | -73.37 | -68.05 | 24.07 | -6.85 | -8.16 |
| 24Q2 (19) | 0.50 | -12.28 | -5.66 | 45.35 | -5.17 | 4.3 | 14.72 | -3.6 | -8.23 | 20.80 | -18.91 | -5.58 | 15.77 | -25.37 | -11.8 | 2.02 | -12.17 | -9.42 | 1.72 | -13.13 | -9.47 | 0.11 | 22.22 | 0.0 | 27.65 | -19.69 | -7.83 | 19.72 | 19.95 | -7.68 | 71.11 | 19.37 | -2.22 | 28.89 | -28.54 | 5.93 | 25.84 | -19.98 | -8.95 |
| 24Q1 (18) | 0.57 | -25.0 | 21.28 | 47.82 | -2.23 | 1.36 | 15.27 | -33.38 | -14.55 | 25.65 | 17.82 | 29.28 | 21.13 | 8.41 | 29.0 | 2.30 | -26.52 | 18.56 | 1.98 | -26.39 | 17.86 | 0.09 | -35.71 | -10.0 | 34.43 | 22.35 | 23.05 | 16.44 | -7.9 | 4.25 | 59.57 | -43.4 | -35.32 | 40.43 | 868.09 | 284.04 | 32.29 | 2.41 | 15.07 |
| 23Q4 (17) | 0.76 | 16.92 | -1.3 | 48.91 | 7.28 | 7.35 | 22.92 | 25.52 | 13.92 | 21.77 | -9.93 | -0.91 | 19.49 | -0.41 | -12.52 | 3.13 | 13.0 | -3.99 | 2.69 | 14.47 | -3.93 | 0.14 | 16.67 | 16.67 | 28.14 | -9.55 | -2.56 | 17.85 | 9.85 | -4.39 | 105.26 | 38.64 | 14.22 | -5.26 | -121.86 | -167.11 | 31.53 | 20.3 | 12.77 |
| 23Q3 (16) | 0.65 | 22.64 | 62.5 | 45.59 | 4.85 | 16.84 | 18.26 | 13.84 | 49.43 | 24.17 | 9.71 | 39.15 | 19.57 | 9.45 | 38.4 | 2.77 | 24.22 | 56.5 | 2.35 | 23.68 | 63.19 | 0.12 | 9.09 | 20.0 | 31.11 | 3.7 | 13.87 | 16.25 | -23.92 | -1.28 | 75.93 | 4.4 | 7.56 | 24.07 | -11.73 | -18.15 | 26.21 | -7.65 | -6.66 |
| 23Q2 (15) | 0.53 | 12.77 | -10.17 | 43.48 | -7.84 | -3.87 | 16.04 | -10.24 | -27.75 | 22.03 | 11.04 | -5.29 | 17.88 | 9.16 | 3.65 | 2.23 | 14.95 | -9.35 | 1.90 | 13.1 | -3.55 | 0.11 | 10.0 | 0.0 | 30.00 | 7.22 | -5.96 | 21.36 | 35.45 | -36.5 | 72.73 | -21.04 | -24.48 | 27.27 | 159.09 | 636.36 | 28.38 | 1.14 | 8.69 |
| 23Q1 (14) | 0.47 | -38.96 | -43.37 | 47.18 | 3.56 | 3.04 | 17.87 | -11.18 | -13.92 | 19.84 | -9.7 | -20.67 | 16.38 | -26.48 | -22.41 | 1.94 | -40.49 | -47.71 | 1.68 | -40.0 | -43.43 | 0.10 | -16.67 | -28.57 | 27.98 | -3.12 | -13.75 | 15.77 | -15.53 | -10.3 | 92.11 | -0.06 | 10.87 | 10.53 | 34.21 | -37.8 | 28.06 | 0.36 | 2.11 |
| 22Q4 (13) | 0.77 | 92.5 | -45.0 | 45.56 | 16.76 | -4.0 | 20.12 | 64.65 | -22.91 | 21.97 | 26.48 | -31.3 | 22.28 | 57.57 | -18.51 | 3.26 | 84.18 | -52.82 | 2.80 | 94.44 | -45.95 | 0.12 | 20.0 | -36.84 | 28.88 | 5.71 | -23.31 | 18.67 | 13.43 | -47.36 | 92.16 | 30.56 | 14.04 | 7.84 | -73.33 | -56.86 | 27.96 | -0.43 | 17.88 |
| 22Q3 (12) | 0.40 | -32.2 | -58.33 | 39.02 | -13.73 | -11.42 | 12.22 | -44.95 | -44.43 | 17.37 | -25.32 | -29.68 | 14.14 | -18.03 | -29.58 | 1.77 | -28.05 | -63.05 | 1.44 | -26.9 | -60.22 | 0.10 | -9.09 | -44.44 | 27.32 | -14.36 | -10.6 | 16.46 | -51.07 | -47.73 | 70.59 | -26.7 | -20.45 | 29.41 | 694.12 | 161.03 | 28.08 | 7.55 | 16.85 |
| 22Q2 (11) | 0.59 | -28.92 | -52.42 | 45.23 | -1.22 | -1.74 | 22.20 | 6.94 | -18.77 | 23.26 | -7.0 | -18.87 | 17.25 | -18.29 | -26.53 | 2.46 | -33.69 | -60.45 | 1.97 | -33.67 | -57.36 | 0.11 | -21.43 | -45.0 | 31.90 | -1.66 | -4.89 | 33.64 | 91.35 | 0.54 | 96.30 | 15.91 | 1.83 | 3.70 | -78.11 | -14.81 | 26.11 | -4.99 | 1.91 |
| 22Q1 (10) | 0.83 | -40.71 | -42.76 | 45.79 | -3.52 | -11.98 | 20.76 | -20.46 | -36.14 | 25.01 | -21.79 | -26.2 | 21.11 | -22.79 | -21.29 | 3.71 | -46.31 | -52.19 | 2.97 | -42.66 | -48.17 | 0.14 | -26.32 | -33.33 | 32.44 | -13.86 | -15.81 | 17.58 | -50.44 | -52.19 | 83.08 | 2.81 | -13.0 | 16.92 | -6.92 | 369.62 | 27.48 | 15.85 | 22.73 |
| 21Q4 (9) | 1.40 | 45.83 | 9.37 | 47.46 | 7.74 | 0.08 | 26.10 | 18.69 | -7.9 | 31.98 | 29.47 | 6.28 | 27.34 | 36.16 | 7.6 | 6.91 | 44.26 | -6.75 | 5.18 | 43.09 | -7.0 | 0.19 | 5.56 | -13.64 | 37.66 | 23.23 | 6.99 | 35.47 | 12.64 | 1.34 | 80.81 | -8.93 | -14.49 | 18.18 | 61.36 | 230.91 | 23.72 | -1.29 | 29.33 |
| 21Q3 (8) | 0.96 | -22.58 | -9.43 | 44.05 | -4.3 | -7.92 | 21.99 | -19.54 | -16.83 | 24.70 | -13.85 | -12.1 | 20.08 | -14.48 | -13.97 | 4.79 | -22.99 | -26.65 | 3.62 | -21.65 | -26.87 | 0.18 | -10.0 | -14.29 | 30.56 | -8.88 | -12.79 | 31.49 | -5.89 | -1.44 | 88.73 | -6.17 | -6.41 | 11.27 | 159.15 | 73.52 | 24.03 | -6.21 | 14.16 |
| 21Q2 (7) | 1.24 | -14.48 | 13.76 | 46.03 | -11.51 | -0.93 | 27.33 | -15.93 | 25.48 | 28.67 | -15.4 | 17.69 | 23.48 | -12.45 | 22.93 | 6.22 | -19.85 | -10.76 | 4.62 | -19.37 | -9.94 | 0.20 | -4.76 | -25.93 | 33.54 | -12.95 | -6.21 | 33.46 | -9.0 | -15.1 | 94.57 | -0.97 | 5.91 | 4.35 | 20.65 | -59.42 | 25.62 | 14.43 | 4.06 |
| 21Q1 (6) | 1.45 | 13.28 | 0 | 52.02 | 9.7 | 0 | 32.51 | 14.71 | 0 | 33.89 | 12.63 | 0 | 26.82 | 5.55 | 0 | 7.76 | 4.72 | 0 | 5.73 | 2.87 | 0 | 0.21 | -4.55 | 0 | 38.53 | 9.46 | 0 | 36.77 | 5.06 | 0 | 95.50 | 1.05 | 0 | 3.60 | -34.41 | 0 | 22.39 | 22.08 | 0 |
| 20Q4 (5) | 1.28 | 20.75 | 0 | 47.42 | -0.88 | 0 | 28.34 | 7.19 | 0 | 30.09 | 7.08 | 0 | 25.41 | 8.87 | 0 | 7.41 | 13.48 | 0 | 5.57 | 12.53 | 0 | 0.22 | 4.76 | 0 | 35.20 | 0.46 | 0 | 35.00 | 9.55 | 0 | 94.51 | -0.32 | 0 | 5.49 | -15.38 | 0 | 18.34 | -12.87 | 0 |
| 20Q3 (4) | 1.06 | -2.75 | 0.0 | 47.84 | 2.97 | 0.0 | 26.44 | 21.4 | 0.0 | 28.10 | 15.35 | 0.0 | 23.34 | 22.2 | 0.0 | 6.53 | -6.31 | 0.0 | 4.95 | -3.51 | 0.0 | 0.21 | -22.22 | 0.0 | 35.04 | -2.01 | 0.0 | 31.95 | -18.93 | 0.0 | 94.81 | 6.18 | 0.0 | 6.49 | -39.39 | 0.0 | 21.05 | -14.5 | 0.0 |
| 20Q2 (3) | 1.09 | 0 | 0.0 | 46.46 | 0 | 0.0 | 21.78 | 0 | 0.0 | 24.36 | 0 | 0.0 | 19.10 | 0 | 0.0 | 6.97 | 0 | 0.0 | 5.13 | 0 | 0.0 | 0.27 | 0 | 0.0 | 35.76 | 0 | 0.0 | 39.41 | 0 | 0.0 | 89.29 | 0 | 0.0 | 10.71 | 0 | 0.0 | 24.62 | 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) | 2.40 | -6.98 | 46.45 | 5.19 | 19.06 | -0.52 | 6.70 | -10.71 | 22.02 | -0.77 | 18.46 | -2.64 | 9.95 | -17.9 | 8.48 | -12.4 | 0.46 | -9.8 | 29.28 | -3.46 | 17.85 | -4.39 | 86.60 | 0.37 | 13.40 | -2.36 | 0.26 | -1.9 | 28.69 | 4.78 |
| 2022 (9) | 2.58 | -48.91 | 44.16 | -7.03 | 19.16 | -29.43 | 7.50 | 47.86 | 22.19 | -25.89 | 18.96 | -22.71 | 12.12 | -53.22 | 9.68 | -49.58 | 0.51 | -34.62 | 30.33 | -13.81 | 18.67 | -47.36 | 86.27 | -4.77 | 13.73 | 45.88 | 0.26 | 49.09 | 27.38 | 14.42 |
| 2021 (8) | 5.05 | 47.23 | 47.50 | 0.68 | 27.15 | 7.19 | 5.07 | -35.04 | 29.94 | 9.39 | 24.53 | 9.31 | 25.91 | 28.33 | 19.20 | 27.07 | 0.78 | 16.42 | 35.19 | -0.17 | 35.47 | 1.34 | 90.59 | -2.44 | 9.41 | 24.79 | 0.18 | 0 | 23.93 | 11.35 |
| 2020 (7) | 3.43 | 62.56 | 47.18 | 10.86 | 25.33 | 40.41 | 7.81 | -31.46 | 27.37 | 35.76 | 22.44 | 31.61 | 20.19 | 49.56 | 15.11 | 46.84 | 0.67 | 11.67 | 35.25 | 10.95 | 35.00 | 5.9 | 92.86 | 3.17 | 7.54 | -29.32 | 0.00 | 0 | 21.49 | -21.68 |
| 2019 (6) | 2.11 | 42.57 | 42.56 | 8.05 | 18.04 | 32.26 | 11.39 | 31.7 | 20.16 | 43.08 | 17.05 | 53.47 | 13.50 | 43.31 | 10.29 | 43.92 | 0.60 | -6.25 | 31.77 | 38.73 | 33.05 | 8.97 | 90.00 | -6.64 | 10.67 | 196.0 | 0.00 | 0 | 27.44 | -10.76 |
| 2018 (5) | 1.48 | -5.73 | 39.39 | 1.81 | 13.64 | 3.41 | 8.65 | 15.21 | 14.09 | 3.76 | 11.11 | -0.54 | 9.42 | -9.25 | 7.15 | -5.92 | 0.64 | -5.88 | 22.90 | 7.36 | 30.33 | -8.42 | 96.40 | -1.0 | 3.60 | 36.94 | 0.00 | 0 | 30.75 | 6.99 |
| 2017 (4) | 1.57 | 214.0 | 38.69 | 7.95 | 13.19 | 34.59 | 7.51 | -13.5 | 13.58 | 97.67 | 11.17 | 222.83 | 10.38 | 205.29 | 7.60 | 215.35 | 0.68 | 0.0 | 21.33 | 32.57 | 33.12 | -19.32 | 97.37 | -32.41 | 2.63 | 0 | 0.00 | 0 | 28.74 | 0.81 |
| 2016 (3) | 0.50 | 1566.67 | 35.84 | 24.23 | 9.80 | 347.49 | 8.68 | -9.36 | 6.87 | 259.69 | 3.46 | 1721.05 | 3.40 | 1900.0 | 2.41 | 904.17 | 0.68 | 7.94 | 16.09 | 26.79 | 41.05 | -12.08 | 144.07 | 20.06 | -42.37 | 0 | 0.00 | 0 | 28.51 | 3.45 |
| 2015 (2) | 0.03 | -95.52 | 28.85 | 13.27 | 2.19 | -47.23 | 9.58 | 25.79 | 1.91 | -65.02 | 0.19 | -95.74 | 0.17 | -96.15 | 0.24 | -92.79 | 0.63 | -12.5 | 12.69 | -9.94 | 46.69 | 25.85 | 120.00 | 55.68 | -13.33 | 0 | 0.00 | 0 | 27.56 | 5.07 |
| 2014 (1) | 0.67 | 0 | 25.47 | 0 | 4.15 | 0 | 7.61 | 0 | 5.46 | 0 | 4.46 | 0 | 4.42 | 0 | 3.33 | 0 | 0.72 | 0 | 14.09 | 0 | 37.10 | 0 | 77.08 | 0 | 22.92 | 0 | 0.00 | 0 | 26.23 | 0 |
