- 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) | 13.06 | -0.91 | 34.09 | 52.87 | 1.58 | 0.74 | 32.12 | 0.44 | 21.12 | 50.55 | -1.21 | 15.02 | 45.80 | 3.08 | 17.86 | 3.12 | -15.68 | -24.27 | 2.84 | -12.88 | -22.4 | 0.06 | -14.29 | -33.33 | 55.57 | -0.73 | 11.92 | 7.98 | -30.37 | -5.23 | 63.53 | 1.62 | 5.25 | 36.47 | -2.7 | -7.99 | 14.86 | -0.47 | -15.95 |
| 24Q2 (19) | 13.18 | 2.97 | 86.16 | 52.05 | -12.09 | 0.0 | 31.98 | -7.28 | 23.91 | 51.17 | -1.9 | 35.59 | 44.43 | -2.29 | 41.23 | 3.70 | -19.04 | 16.72 | 3.26 | -18.91 | 21.19 | 0.07 | -22.22 | -22.22 | 55.98 | -2.73 | 28.25 | 11.46 | -32.31 | -33.45 | 62.52 | -5.47 | -8.55 | 37.48 | 10.69 | 18.48 | 14.93 | -12.18 | -11.76 |
| 24Q1 (18) | 12.80 | 31.28 | 127.35 | 59.21 | -4.99 | 12.42 | 34.49 | -7.61 | 49.76 | 52.16 | 14.54 | 65.96 | 45.47 | 15.26 | 63.38 | 4.57 | 23.85 | 78.52 | 4.02 | 19.29 | 83.56 | 0.09 | 0.0 | 12.5 | 57.55 | 11.64 | 51.05 | 16.93 | 60.63 | -12.37 | 66.14 | -19.37 | -9.62 | 33.86 | 88.4 | 26.25 | 17.00 | 6.25 | -1.79 |
| 23Q4 (17) | 9.75 | 0.1 | 113.82 | 62.32 | 18.75 | 35.45 | 37.33 | 40.76 | 145.27 | 45.54 | 3.62 | 37.62 | 39.45 | 1.52 | 26.12 | 3.69 | -10.44 | 80.88 | 3.37 | -7.92 | 89.33 | 0.09 | 0.0 | 50.0 | 51.55 | 3.83 | 22.86 | 10.54 | 25.18 | -35.02 | 82.03 | 35.88 | 78.53 | 17.97 | -54.65 | -66.75 | 16.00 | -9.5 | -8.15 |
| 23Q3 (16) | 9.74 | 37.57 | -9.48 | 52.48 | 0.83 | 2.88 | 26.52 | 2.75 | 8.02 | 43.95 | 16.45 | -28.17 | 38.86 | 23.52 | -30.17 | 4.12 | 29.97 | -15.05 | 3.66 | 36.06 | -9.63 | 0.09 | 0.0 | 28.57 | 49.65 | 13.75 | -26.4 | 8.42 | -51.1 | -44.75 | 60.37 | -11.7 | 50.55 | 39.63 | 25.29 | -33.84 | 17.68 | 4.49 | 3.15 |
| 23Q2 (15) | 7.08 | 25.75 | -30.99 | 52.05 | -1.18 | -1.98 | 25.81 | 12.07 | -7.26 | 37.74 | 20.08 | -34.26 | 31.46 | 13.04 | -36.12 | 3.17 | 23.83 | -30.94 | 2.69 | 22.83 | -28.07 | 0.09 | 12.5 | 12.5 | 43.65 | 14.57 | -30.7 | 17.22 | -10.87 | -31.56 | 68.37 | -6.58 | 41.0 | 31.63 | 17.95 | -38.59 | 16.92 | -2.25 | 4.19 |
| 23Q1 (14) | 5.63 | 23.46 | -54.15 | 52.67 | 14.48 | -3.73 | 23.03 | 51.31 | -19.45 | 31.43 | -5.02 | -50.64 | 27.83 | -11.03 | -52.01 | 2.56 | 25.49 | -51.7 | 2.19 | 23.03 | -52.29 | 0.08 | 33.33 | 0.0 | 38.10 | -9.2 | -44.59 | 19.32 | 19.11 | -7.12 | 73.18 | 59.28 | 63.17 | 26.82 | -50.39 | -51.28 | 17.31 | -0.63 | -8.32 |
| 22Q4 (13) | 4.56 | -57.62 | -55.69 | 46.01 | -9.8 | -16.16 | 15.22 | -38.0 | -43.65 | 33.09 | -45.92 | -48.71 | 31.28 | -43.79 | -48.44 | 2.04 | -57.94 | -54.97 | 1.78 | -56.05 | -56.59 | 0.06 | -14.29 | -14.29 | 41.96 | -37.8 | -40.32 | 16.22 | 6.43 | 59.8 | 45.95 | 14.58 | 9.92 | 54.05 | -9.76 | -7.13 | 17.42 | 1.63 | -13.03 |
| 22Q3 (12) | 10.76 | 4.87 | -26.05 | 51.01 | -3.94 | -7.79 | 24.55 | -11.79 | -32.11 | 61.19 | 6.58 | -2.72 | 55.65 | 12.99 | -1.14 | 4.85 | 5.66 | -31.21 | 4.05 | 8.29 | -32.95 | 0.07 | -12.5 | -36.36 | 67.46 | 7.1 | 1.5 | 15.24 | -39.43 | 38.55 | 40.10 | -17.3 | -30.29 | 59.90 | 16.29 | 41.03 | 17.14 | 5.54 | 23.84 |
| 22Q2 (11) | 10.26 | -16.45 | -7.07 | 53.10 | -2.94 | -1.81 | 27.83 | -2.66 | -16.02 | 57.41 | -9.83 | -4.48 | 49.25 | -15.07 | -4.96 | 4.59 | -13.4 | -19.9 | 3.74 | -18.52 | -19.74 | 0.08 | 0.0 | -11.11 | 62.99 | -8.39 | -1.78 | 25.16 | 20.96 | 8.92 | 48.49 | 8.11 | -12.16 | 51.51 | -6.42 | 14.7 | 16.24 | -13.98 | 0.93 |
| 22Q1 (10) | 12.28 | 19.34 | 18.65 | 54.71 | -0.31 | 8.85 | 28.59 | 5.85 | -7.39 | 63.67 | -1.32 | 25.31 | 57.99 | -4.42 | 28.24 | 5.30 | 17.0 | 1.34 | 4.59 | 11.95 | 2.68 | 0.08 | 14.29 | -20.0 | 68.76 | -2.2 | 26.7 | 20.80 | 104.93 | -8.97 | 44.85 | 7.3 | -26.29 | 55.04 | -5.43 | 40.14 | 18.88 | -5.74 | 31.2 |
| 21Q4 (9) | 10.29 | -29.28 | -7.05 | 54.88 | -0.8 | 7.12 | 27.01 | -25.3 | -15.86 | 64.52 | 2.58 | 53.47 | 60.67 | 7.78 | 65.36 | 4.53 | -35.74 | -19.54 | 4.10 | -32.12 | -18.97 | 0.07 | -36.36 | -50.0 | 70.31 | 5.79 | 57.47 | 10.15 | -7.73 | -9.94 | 41.80 | -27.34 | -45.24 | 58.20 | 37.02 | 145.97 | 20.03 | 44.73 | 27.99 |
| 21Q3 (8) | 14.55 | 31.79 | 14.3 | 55.32 | 2.29 | 5.11 | 36.16 | 9.11 | -5.34 | 62.90 | 4.66 | 29.05 | 56.29 | 8.63 | 34.02 | 7.05 | 23.04 | -7.36 | 6.04 | 29.61 | -9.99 | 0.11 | 22.22 | -31.25 | 66.46 | 3.63 | 29.75 | 11.00 | -52.38 | -1.52 | 57.52 | 4.2 | -26.56 | 42.48 | -5.42 | 96.04 | 13.84 | -13.98 | 12.98 |
| 21Q2 (7) | 11.04 | 6.67 | -10.02 | 54.08 | 7.6 | 3.15 | 33.14 | 7.35 | -3.16 | 60.10 | 18.28 | -10.75 | 51.82 | 14.6 | -17.54 | 5.73 | 9.56 | -53.07 | 4.66 | 4.25 | -52.21 | 0.09 | -10.0 | -43.75 | 64.13 | 18.17 | -10.12 | 23.10 | 1.09 | 45.47 | 55.20 | -9.28 | 8.56 | 44.91 | 14.34 | -8.63 | 16.09 | 11.81 | 0 |
| 21Q1 (6) | 10.35 | -6.5 | 26.22 | 50.26 | -1.89 | -4.12 | 30.87 | -3.83 | -16.11 | 50.81 | 20.86 | 33.71 | 45.22 | 23.25 | 45.59 | 5.23 | -7.1 | -73.86 | 4.47 | -11.66 | -66.34 | 0.10 | -28.57 | -76.74 | 54.27 | 21.55 | 32.43 | 22.85 | 102.75 | -67.06 | 60.85 | -20.29 | -37.17 | 39.28 | 65.99 | 1146.52 | 14.39 | -8.05 | 10.18 |
| 20Q4 (5) | 11.07 | -13.04 | 176.06 | 51.23 | -2.66 | 2.69 | 32.10 | -15.97 | 1.26 | 42.04 | -13.75 | 44.97 | 36.69 | -12.64 | 52.43 | 5.63 | -26.02 | -42.43 | 5.06 | -24.59 | -29.33 | 0.14 | -12.5 | -53.33 | 44.65 | -12.83 | 32.61 | 11.27 | 0.9 | -66.55 | 76.34 | -2.55 | -30.16 | 23.66 | 9.21 | 354.15 | 15.65 | 27.76 | 7.12 |
| 20Q3 (4) | 12.73 | 3.75 | 0.0 | 52.63 | 0.38 | 0.0 | 38.20 | 11.63 | 0.0 | 48.74 | -27.62 | 0.0 | 42.00 | -33.16 | 0.0 | 7.61 | -37.67 | 0.0 | 6.71 | -31.18 | 0.0 | 0.16 | 0.0 | 0.0 | 51.22 | -28.21 | 0.0 | 11.17 | -29.66 | 0.0 | 78.33 | 54.04 | 0.0 | 21.67 | -55.92 | 0.0 | 12.25 | 0 | 0.0 |
| 20Q2 (3) | 12.27 | 49.63 | 0.0 | 52.43 | 0.02 | 0.0 | 34.22 | -7.01 | 0.0 | 67.34 | 77.21 | 0.0 | 62.84 | 102.32 | 0.0 | 12.21 | -38.98 | 0.0 | 9.75 | -26.58 | 0.0 | 0.16 | -62.79 | 0.0 | 71.35 | 74.11 | 0.0 | 15.88 | -77.1 | 0.0 | 50.85 | -47.49 | 0.0 | 49.15 | 1459.82 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 8.20 | 104.49 | 0.0 | 52.42 | 5.07 | 0.0 | 36.80 | 16.09 | 0.0 | 38.00 | 31.03 | 0.0 | 31.06 | 29.04 | 0.0 | 20.01 | 104.6 | 0.0 | 13.28 | 85.47 | 0.0 | 0.43 | 43.33 | 0.0 | 40.98 | 21.71 | 0.0 | 69.36 | 105.88 | 0.0 | 96.85 | -11.4 | 0.0 | 3.15 | 133.84 | 0.0 | 13.06 | -10.61 | 0.0 |
| 19Q4 (1) | 4.01 | 0.0 | 0.0 | 49.89 | 0.0 | 0.0 | 31.70 | 0.0 | 0.0 | 29.00 | 0.0 | 0.0 | 24.07 | 0.0 | 0.0 | 9.78 | 0.0 | 0.0 | 7.16 | 0.0 | 0.0 | 0.30 | 0.0 | 0.0 | 33.67 | 0.0 | 0.0 | 33.69 | 0.0 | 0.0 | 109.31 | 0.0 | 0.0 | -9.31 | 0.0 | 0.0 | 14.61 | 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) | 32.19 | -14.98 | 55.05 | 6.56 | 28.47 | 14.89 | 4.70 | 5.46 | 40.13 | -27.63 | 34.81 | -30.2 | 12.77 | -22.93 | 11.32 | -22.94 | 0.32 | 10.34 | 46.18 | -25.13 | 10.54 | -35.02 | 70.96 | 58.72 | 29.04 | -47.48 | 0.31 | -58.6 | 16.97 | -2.64 |
| 2022 (9) | 37.86 | -18.11 | 51.66 | -3.62 | 24.78 | -23.16 | 4.46 | 52.23 | 55.45 | -6.57 | 49.87 | -6.15 | 16.57 | -21.17 | 14.69 | -22.68 | 0.29 | -19.44 | 61.68 | -2.77 | 16.22 | 59.8 | 44.71 | -17.74 | 55.29 | 21.04 | 0.76 | -35.52 | 17.43 | 10.74 |
| 2021 (8) | 46.23 | 4.69 | 53.60 | 2.78 | 32.25 | -8.87 | 2.93 | 34.63 | 59.35 | 23.98 | 53.14 | 26.83 | 21.02 | -40.11 | 19.00 | -37.91 | 0.36 | -50.68 | 63.44 | 24.91 | 10.15 | -9.94 | 54.35 | -26.49 | 45.68 | 75.23 | 1.18 | 105.11 | 15.74 | 13.81 |
| 2020 (7) | 44.16 | 174.63 | 52.15 | 4.76 | 35.39 | 13.39 | 2.18 | -37.31 | 47.87 | 54.37 | 41.90 | 62.59 | 35.10 | -10.73 | 30.60 | 5.66 | 0.73 | -34.82 | 50.79 | 42.31 | 11.27 | -66.55 | 73.93 | -26.51 | 26.07 | 0 | 0.57 | -79.8 | 13.83 | -6.43 |
| 2019 (6) | 16.08 | 0.94 | 49.78 | 5.56 | 31.21 | 5.58 | 3.47 | 16.37 | 31.01 | 0.88 | 25.77 | 0.35 | 39.32 | -16.27 | 28.96 | -16.35 | 1.12 | -17.04 | 35.69 | 3.3 | 33.69 | -11.85 | 100.60 | 4.63 | -0.69 | 0 | 2.84 | -26.89 | 14.78 | 3.94 |
| 2018 (5) | 15.93 | 120.33 | 47.16 | 5.69 | 29.56 | 16.93 | 2.98 | -1.42 | 30.74 | 81.25 | 25.68 | 76.86 | 46.96 | 79.31 | 34.62 | 72.5 | 1.35 | -2.17 | 34.55 | 65.79 | 38.22 | 18.73 | 96.15 | -35.43 | 3.85 | 0 | 3.88 | 0 | 14.22 | -1.52 |
| 2017 (4) | 7.23 | 16.8 | 44.62 | -5.75 | 25.28 | 30.18 | 3.03 | -15.91 | 16.96 | -12.4 | 14.52 | -14.69 | 26.19 | 8.58 | 20.07 | 3.99 | 1.38 | 22.12 | 20.84 | -13.24 | 32.19 | 12.2 | 148.91 | 48.17 | -48.91 | 0 | 0.00 | 0 | 14.44 | -28.48 |
| 2016 (3) | 6.19 | 69.13 | 47.34 | -0.17 | 19.42 | 44.6 | 3.60 | -8.23 | 19.36 | 28.04 | 17.02 | 28.16 | 24.12 | 51.13 | 19.30 | 44.35 | 1.13 | 11.88 | 24.02 | 17.17 | 28.69 | 38.2 | 100.50 | 13.01 | -0.25 | 0 | 0.00 | 0 | 20.19 | -16.19 |
| 2015 (2) | 3.66 | -9.41 | 47.42 | 13.44 | 13.43 | -7.12 | 3.92 | -5.17 | 15.12 | -12.2 | 13.28 | -11.23 | 15.96 | -18.45 | 13.37 | -17.67 | 1.01 | -7.34 | 20.50 | -10.48 | 20.76 | 16.5 | 88.94 | 5.91 | 11.06 | -30.98 | 0.00 | 0 | 24.09 | 20.93 |
| 2014 (1) | 4.04 | 162.34 | 41.80 | 0 | 14.46 | 0 | 4.13 | -28.77 | 17.22 | 0 | 14.96 | 0 | 19.57 | 0 | 16.24 | 0 | 1.09 | 23.86 | 22.90 | 34.79 | 17.82 | -24.56 | 83.97 | -13.0 | 16.03 | 360.88 | 0.00 | 0 | 19.92 | -2.21 |
