- 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) | 1.53 | 4.79 | -37.55 | 33.24 | -1.63 | 12.79 | 10.67 | 6.27 | -2.38 | 10.62 | -17.29 | -31.88 | 8.51 | 2.28 | -31.92 | 4.23 | 10.44 | -43.75 | 2.28 | 7.55 | -41.39 | 0.26 | 4.0 | -16.13 | 13.23 | -15.46 | -21.99 | 96.25 | 9.79 | 6.21 | 100.45 | 28.62 | 43.0 | -0.45 | -102.06 | -101.5 | 20.39 | 6.59 | 29.05 |
| 24Q2 (19) | 1.46 | -16.57 | -27.0 | 33.79 | 7.27 | 5.83 | 10.04 | 43.84 | -16.33 | 12.84 | -6.69 | -18.37 | 8.32 | -22.6 | -18.59 | 3.83 | -18.16 | -38.23 | 2.12 | -18.46 | -32.27 | 0.25 | 4.17 | -16.67 | 15.65 | -2.86 | -11.43 | 87.67 | 1.25 | -14.93 | 78.10 | 53.6 | 2.59 | 21.90 | -55.44 | -7.0 | 19.13 | -4.16 | 47.49 |
| 24Q1 (18) | 1.75 | -21.17 | -19.72 | 31.50 | -15.71 | -8.3 | 6.98 | -62.35 | -55.82 | 13.76 | 4.4 | -18.05 | 10.75 | 0.09 | -18.0 | 4.68 | -28.11 | -36.84 | 2.60 | -26.97 | -27.98 | 0.24 | -25.0 | -11.11 | 16.11 | 6.62 | -15.17 | 86.59 | 4.69 | -17.35 | 50.85 | -63.75 | -45.99 | 49.15 | 221.05 | 738.48 | 19.96 | 69.15 | 16.05 |
| 23Q4 (17) | 2.22 | -9.39 | -12.6 | 37.37 | 26.81 | 13.31 | 18.54 | 69.62 | 29.2 | 13.18 | -15.46 | -1.27 | 10.74 | -14.08 | 0.19 | 6.51 | -13.43 | -27.99 | 3.56 | -8.48 | -15.04 | 0.32 | 3.23 | -15.79 | 15.11 | -10.91 | -3.2 | 82.71 | -8.73 | -28.85 | 140.27 | 99.68 | 30.45 | -40.60 | -235.07 | -439.7 | 11.80 | -25.32 | 7.47 |
| 23Q3 (16) | 2.45 | 22.5 | -1.61 | 29.47 | -7.7 | -0.37 | 10.93 | -8.92 | -24.46 | 15.59 | -0.89 | 1.17 | 12.50 | 22.31 | -0.87 | 7.52 | 21.29 | -30.56 | 3.89 | 24.28 | -14.88 | 0.31 | 3.33 | -13.89 | 16.96 | -4.02 | -0.35 | 90.62 | -12.07 | -26.73 | 70.25 | -7.73 | -25.15 | 30.06 | 27.66 | 388.89 | 15.80 | 21.82 | 19.88 |
| 23Q2 (15) | 2.00 | -8.26 | 21.21 | 31.93 | -7.05 | -2.21 | 12.00 | -24.05 | -11.63 | 15.73 | -6.31 | 24.64 | 10.22 | -22.04 | 10.25 | 6.20 | -16.33 | -20.51 | 3.13 | -13.3 | 2.29 | 0.30 | 11.11 | -6.25 | 17.67 | -6.95 | 23.83 | 103.06 | -1.63 | -38.25 | 76.13 | -19.13 | -29.13 | 23.55 | 301.71 | 417.12 | 12.97 | -24.59 | 4.43 |
| 23Q1 (14) | 2.18 | -14.17 | 37.11 | 34.35 | 4.15 | 16.6 | 15.80 | 10.1 | 25.7 | 16.79 | 25.77 | 24.0 | 13.11 | 22.29 | 24.38 | 7.41 | -18.03 | -11.89 | 3.61 | -13.84 | 10.74 | 0.27 | -28.95 | -10.0 | 18.99 | 21.65 | 21.57 | 104.77 | -9.88 | -33.93 | 94.14 | -12.45 | 1.58 | 5.86 | 177.92 | -20.02 | 17.20 | 56.65 | 21.9 |
| 22Q4 (13) | 2.54 | 2.01 | 98.44 | 32.98 | 11.49 | 16.29 | 14.35 | -0.83 | 31.05 | 13.35 | -13.37 | 50.51 | 10.72 | -14.99 | 40.13 | 9.04 | -16.53 | 28.96 | 4.19 | -8.32 | 56.34 | 0.38 | 5.56 | 11.76 | 15.61 | -8.28 | 38.88 | 116.25 | -6.01 | -32.37 | 107.52 | 14.57 | -12.8 | -7.52 | -222.36 | 67.72 | 10.98 | -16.69 | -14.22 |
| 22Q3 (12) | 2.49 | 50.91 | 336.84 | 29.58 | -9.4 | 2.71 | 14.47 | 6.55 | 89.4 | 15.41 | 22.11 | 125.29 | 12.61 | 36.03 | 158.4 | 10.83 | 38.85 | 191.13 | 4.57 | 49.35 | 198.69 | 0.36 | 12.5 | 20.0 | 17.02 | 19.27 | 79.54 | 123.68 | -25.9 | -27.12 | 93.85 | -12.64 | -16.35 | 6.15 | 182.8 | 150.42 | 13.18 | 6.12 | 7.33 |
| 22Q2 (11) | 1.65 | 3.77 | 194.64 | 32.65 | 10.83 | 30.5 | 13.58 | 8.04 | 175.46 | 12.62 | -6.79 | 146.0 | 9.27 | -12.05 | 67.33 | 7.80 | -7.25 | 126.74 | 3.06 | -6.13 | 104.0 | 0.32 | 6.67 | 23.08 | 14.27 | -8.64 | 93.62 | 166.90 | 5.25 | 13.65 | 107.43 | 15.92 | 12.0 | -7.43 | -201.31 | -281.93 | 12.42 | -11.98 | -35.75 |
| 22Q1 (10) | 1.59 | 24.22 | 1490.0 | 29.46 | 3.88 | 4.43 | 12.57 | 14.79 | 304.18 | 13.54 | 52.65 | 648.07 | 10.54 | 37.78 | 763.93 | 8.41 | 19.97 | 1214.06 | 3.26 | 21.64 | 781.08 | 0.30 | -11.76 | 36.36 | 15.62 | 38.97 | 218.13 | 158.57 | -7.74 | 18.39 | 92.67 | -24.85 | -48.1 | 7.33 | 131.45 | 110.26 | 14.11 | 10.23 | -33.38 |
| 21Q4 (9) | 1.28 | 124.56 | 80.28 | 28.36 | -1.53 | 16.23 | 10.95 | 43.32 | 60.79 | 8.87 | 29.68 | 16.25 | 7.65 | 56.76 | 39.34 | 7.01 | 88.44 | 70.15 | 2.68 | 75.16 | 50.56 | 0.34 | 13.33 | 9.68 | 11.24 | 18.57 | 9.44 | 171.88 | 1.28 | 24.07 | 123.31 | 9.91 | 39.53 | -23.31 | -91.13 | -322.72 | 12.80 | 4.23 | -6.77 |
| 21Q3 (8) | 0.57 | 1.79 | 5.56 | 28.80 | 15.11 | 12.02 | 7.64 | 54.97 | 46.08 | 6.84 | 33.33 | -12.64 | 4.88 | -11.91 | -22.29 | 3.72 | 8.14 | 0.81 | 1.53 | 2.0 | -3.16 | 0.30 | 15.38 | 25.0 | 9.48 | 28.63 | -7.33 | 169.71 | 15.56 | 11.26 | 112.20 | 16.97 | 68.29 | -12.20 | -398.78 | -136.59 | 12.28 | -36.47 | -26.47 |
| 21Q2 (7) | 0.56 | 460.0 | 0.0 | 25.02 | -11.31 | 4.47 | 4.93 | 58.52 | 11.29 | 5.13 | 183.43 | -21.68 | 5.54 | 354.1 | -12.2 | 3.44 | 437.5 | -15.48 | 1.50 | 305.41 | -15.25 | 0.26 | 18.18 | 0.0 | 7.37 | 50.1 | -15.38 | 146.86 | 9.65 | 1.35 | 95.92 | -46.29 | 41.48 | 4.08 | 105.71 | -87.33 | 19.33 | -8.73 | 0 |
| 21Q1 (6) | 0.10 | -85.92 | -75.61 | 28.21 | 15.61 | -4.53 | 3.11 | -54.33 | -56.87 | 1.81 | -76.28 | -75.57 | 1.22 | -77.78 | -71.16 | 0.64 | -84.47 | -76.73 | 0.37 | -79.21 | -69.17 | 0.22 | -29.03 | -15.38 | 4.91 | -52.19 | -51.0 | 133.94 | -3.32 | -7.18 | 178.57 | 102.07 | 84.24 | -71.43 | -782.54 | -2421.43 | 21.18 | 54.26 | 25.77 |
| 20Q4 (5) | 0.71 | 31.48 | -65.37 | 24.40 | -5.1 | -19.37 | 6.81 | 30.21 | -50.76 | 7.63 | -2.55 | -46.79 | 5.49 | -12.58 | -64.42 | 4.12 | 11.65 | -72.93 | 1.78 | 12.66 | -69.36 | 0.31 | 29.17 | -16.22 | 10.27 | 0.39 | -35.25 | 138.54 | -9.17 | -13.92 | 88.37 | 32.56 | -8.55 | 10.47 | -68.6 | 210.47 | 13.73 | -17.78 | 0 |
| 20Q3 (4) | 0.54 | -3.57 | 0.0 | 25.71 | 7.35 | 0.0 | 5.23 | 18.06 | 0.0 | 7.83 | 19.54 | 0.0 | 6.28 | -0.48 | 0.0 | 3.69 | -9.34 | 0.0 | 1.58 | -10.73 | 0.0 | 0.24 | -7.69 | 0.0 | 10.23 | 17.45 | 0.0 | 152.53 | 5.27 | 0.0 | 66.67 | -1.67 | 0.0 | 33.33 | 3.51 | 0.0 | 16.70 | 0 | 0.0 |
| 20Q2 (3) | 0.56 | 36.59 | 0.0 | 23.95 | -18.95 | 0.0 | 4.43 | -38.56 | 0.0 | 6.55 | -11.61 | 0.0 | 6.31 | 49.17 | 0.0 | 4.07 | 48.0 | 0.0 | 1.77 | 47.5 | 0.0 | 0.26 | 0.0 | 0.0 | 8.71 | -13.07 | 0.0 | 144.90 | 0.42 | 0.0 | 67.80 | -30.05 | 0.0 | 32.20 | 946.61 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.41 | -80.0 | 0.0 | 29.55 | -2.35 | 0.0 | 7.21 | -47.87 | 0.0 | 7.41 | -48.33 | 0.0 | 4.23 | -72.59 | 0.0 | 2.75 | -81.93 | 0.0 | 1.20 | -79.35 | 0.0 | 0.26 | -29.73 | 0.0 | 10.02 | -36.82 | 0.0 | 144.30 | -10.34 | 0.0 | 96.92 | 0.3 | 0.0 | 3.08 | -8.72 | 0.0 | 16.84 | 0 | 0.0 |
| 19Q4 (1) | 2.05 | 0.0 | 0.0 | 30.26 | 0.0 | 0.0 | 13.83 | 0.0 | 0.0 | 14.34 | 0.0 | 0.0 | 15.43 | 0.0 | 0.0 | 15.22 | 0.0 | 0.0 | 5.81 | 0.0 | 0.0 | 0.37 | 0.0 | 0.0 | 15.86 | 0.0 | 0.0 | 160.94 | 0.0 | 0.0 | 96.63 | 0.0 | 0.0 | 3.37 | 0.0 | 0.0 | 0.00 | 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) | 8.65 | 5.62 | 33.34 | 6.45 | 14.37 | 3.53 | 1.13 | -10.95 | 15.21 | 10.3 | 11.58 | 6.43 | 27.48 | -20.83 | 14.24 | -5.26 | 1.20 | -11.11 | 17.07 | 8.59 | 82.71 | -28.85 | 94.44 | -6.2 | 5.47 | 0 | 0.47 | -35.81 | 14.29 | 14.5 |
| 2022 (9) | 8.19 | 226.29 | 31.32 | 12.95 | 13.88 | 88.59 | 1.27 | -31.82 | 13.79 | 120.64 | 10.88 | 105.28 | 34.71 | 135.8 | 15.03 | 147.2 | 1.35 | 25.0 | 15.72 | 78.23 | 116.25 | -32.37 | 100.69 | -14.36 | -0.69 | 0 | 0.74 | -48.91 | 12.48 | -19.79 |
| 2021 (8) | 2.51 | 12.56 | 27.73 | 7.48 | 7.36 | 23.08 | 1.86 | -5.97 | 6.25 | -15.08 | 5.30 | -4.85 | 14.72 | 1.1 | 6.08 | -2.72 | 1.08 | 2.86 | 8.82 | -10.46 | 171.88 | 24.07 | 117.56 | 44.98 | -17.56 | 0 | 1.44 | -19.53 | 15.56 | 0.71 |
| 2020 (7) | 2.23 | 1073.68 | 25.80 | -5.53 | 5.98 | 0 | 1.98 | 41.74 | 7.36 | 5157.14 | 5.57 | 345.6 | 14.56 | 334.63 | 6.25 | 227.23 | 1.05 | -3.67 | 9.85 | 358.14 | 138.54 | -13.92 | 81.09 | 0 | 18.91 | -93.7 | 1.79 | 122.56 | 15.45 | 23.4 |
| 2019 (6) | 0.19 | 0 | 27.31 | -6.38 | -0.27 | 0 | 1.40 | 12.21 | 0.14 | 0 | 1.25 | 0 | 3.35 | 0 | 1.91 | 0 | 1.09 | 47.3 | 2.15 | 0 | 160.94 | 24.12 | -200.00 | 0 | 300.00 | 0 | 0.80 | -18.14 | 12.52 | -23.94 |
| 2018 (5) | -4.97 | 0 | 29.17 | 14.53 | -19.33 | 0 | 1.25 | 35.52 | -17.65 | 0 | -14.82 | 0 | -23.93 | 0 | -10.38 | 0 | 0.74 | -11.9 | -15.42 | 0 | 129.67 | 18.56 | 109.49 | -18.57 | -9.49 | 0 | 0.98 | 27.74 | 16.46 | 37.17 |
| 2017 (4) | 0.80 | -82.53 | 25.47 | -6.29 | 6.13 | -52.63 | 0.92 | 71.56 | 4.58 | -63.33 | 3.16 | -68.24 | 5.19 | -78.37 | 2.82 | -77.44 | 0.84 | -31.71 | 5.74 | -56.74 | 109.37 | 29.29 | 134.45 | 29.86 | -33.61 | 0 | 0.77 | 0 | 12.00 | 38.41 |
| 2016 (3) | 4.58 | 195.48 | 27.18 | 20.16 | 12.94 | 115.31 | 0.54 | -6.17 | 12.49 | 119.12 | 9.95 | 131.4 | 23.99 | 105.22 | 12.50 | 92.9 | 1.23 | -15.17 | 13.27 | 103.84 | 84.59 | -25.85 | 103.54 | -1.71 | -3.54 | 0 | 0.00 | 0 | 8.67 | 14.53 |
| 2015 (2) | 1.55 | 9.15 | 22.62 | 4.58 | 6.01 | -9.35 | 0.57 | 1.52 | 5.70 | -10.66 | 4.30 | -7.53 | 11.69 | 24.76 | 6.48 | 11.15 | 1.45 | 17.89 | 6.51 | -8.18 | 114.08 | 93.22 | 105.33 | 0.87 | -5.33 | 0 | 0.00 | 0 | 7.57 | -7.57 |
| 2014 (1) | 1.42 | -21.11 | 21.63 | 0 | 6.63 | 0 | 0.56 | -11.64 | 6.38 | 0 | 4.65 | 0 | 9.37 | 0 | 5.83 | 0 | 1.23 | -2.38 | 7.09 | -16.88 | 59.04 | -12.92 | 104.42 | -8.26 | -4.42 | 0 | 0.00 | 0 | 8.19 | 10.98 |
