- 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) | 19.30 | 43.6 | 169.55 | 64.28 | 1.45 | 2.75 | 47.90 | 11.97 | 44.98 | 45.89 | -1.78 | 7.67 | 36.72 | -1.95 | 8.16 | 16.74 | 23.09 | 109.25 | 11.45 | 21.68 | 131.31 | 0.31 | 24.0 | 121.43 | 48.74 | -7.3 | -8.16 | 47.50 | 4.21 | -3.22 | 104.28 | 13.98 | 34.81 | -4.39 | -152.47 | -119.62 | 11.50 | -19.75 | -37.36 |
| 24Q2 (19) | 13.44 | 29.73 | 110.99 | 63.36 | 0.19 | -3.46 | 42.78 | 12.2 | 35.34 | 46.72 | 1.13 | 12.15 | 37.45 | -3.0 | 5.97 | 13.60 | 26.98 | 76.17 | 9.41 | 14.62 | 128.4 | 0.25 | 19.05 | 108.33 | 52.58 | -0.44 | -0.68 | 45.58 | 4.83 | -44.33 | 91.48 | 10.92 | 20.42 | 8.36 | -52.29 | -65.21 | 14.33 | -2.52 | -27.33 |
| 24Q1 (18) | 10.36 | 26.34 | 110.14 | 63.24 | -1.69 | -1.56 | 38.13 | -4.27 | 21.86 | 46.20 | 32.72 | 34.77 | 38.61 | 22.69 | 38.74 | 10.71 | 27.2 | 114.63 | 8.21 | 28.89 | 157.37 | 0.21 | 5.0 | 90.91 | 52.81 | 24.03 | 14.7 | 43.48 | 134.77 | -53.55 | 82.48 | -27.83 | -9.63 | 17.52 | 222.65 | 100.62 | 14.70 | 19.71 | -20.63 |
| 23Q4 (17) | 8.20 | 14.53 | -34.87 | 64.33 | 2.83 | -0.73 | 39.83 | 20.55 | -14.31 | 34.81 | -18.32 | -18.74 | 31.47 | -7.3 | -12.24 | 8.42 | 5.25 | -23.8 | 6.37 | 28.69 | -24.53 | 0.20 | 42.86 | -16.67 | 42.58 | -19.77 | -11.29 | 18.52 | -62.27 | -42.25 | 114.29 | 47.75 | 5.21 | -14.29 | -163.91 | -69.05 | 12.28 | -33.12 | 648.78 |
| 23Q3 (16) | 7.16 | 12.4 | -54.77 | 62.56 | -4.68 | -3.37 | 33.04 | 4.52 | -27.14 | 42.62 | 2.3 | -25.36 | 33.95 | -3.93 | -25.86 | 8.00 | 3.63 | -48.95 | 4.95 | 20.15 | -53.43 | 0.14 | 16.67 | -39.13 | 53.07 | 0.25 | -14.15 | 49.08 | -40.05 | 64.7 | 77.35 | 1.82 | -2.69 | 22.35 | -6.97 | 8.28 | 18.36 | -6.9 | -4.52 |
| 23Q2 (15) | 6.37 | 29.21 | -57.25 | 65.63 | 2.16 | 0.69 | 31.61 | 1.02 | -35.11 | 41.66 | 21.53 | -16.53 | 35.34 | 26.99 | -10.6 | 7.72 | 54.71 | -55.73 | 4.12 | 29.15 | -59.17 | 0.12 | 9.09 | -53.85 | 52.94 | 14.99 | -1.89 | 81.87 | -12.53 | 18.0 | 75.97 | -16.76 | -22.17 | 24.03 | 175.12 | 904.95 | 19.72 | 6.48 | 80.09 |
| 23Q1 (14) | 4.93 | -60.84 | -63.86 | 64.24 | -0.86 | -2.24 | 31.29 | -32.68 | -33.95 | 34.28 | -19.98 | -32.99 | 27.83 | -22.39 | -31.54 | 4.99 | -54.84 | -65.37 | 3.19 | -62.2 | -66.7 | 0.11 | -54.17 | -54.17 | 46.04 | -4.08 | -17.9 | 93.60 | 191.86 | 21.48 | 91.27 | -15.98 | -1.55 | 8.73 | 203.35 | 16.91 | 18.52 | 1029.27 | 61.46 |
| 22Q4 (13) | 12.59 | -20.47 | 2.69 | 64.80 | 0.09 | -2.06 | 46.48 | 2.49 | -3.35 | 42.84 | -24.97 | -11.14 | 35.86 | -21.69 | -12.02 | 11.05 | -29.48 | -12.3 | 8.44 | -20.6 | -11.25 | 0.24 | 4.35 | 4.35 | 48.00 | -22.36 | -10.51 | 32.07 | 7.62 | 12.57 | 108.63 | 36.65 | 8.85 | -8.45 | -140.94 | -4300.0 | 1.64 | -91.47 | -85.27 |
| 22Q3 (12) | 15.83 | 6.24 | 57.67 | 64.74 | -0.68 | -1.13 | 45.35 | -6.9 | -3.41 | 57.10 | 14.41 | 23.67 | 45.79 | 15.84 | 24.94 | 15.67 | -10.15 | 34.28 | 10.63 | 5.35 | 36.46 | 0.23 | -11.54 | 9.52 | 61.82 | 14.57 | 18.23 | 29.80 | -57.05 | -20.66 | 79.49 | -18.56 | -21.77 | 20.64 | 763.38 | 1379.89 | 19.23 | 75.62 | 60.25 |
| 22Q2 (11) | 14.90 | 9.24 | 69.13 | 65.18 | -0.81 | -0.15 | 48.71 | 2.83 | 9.09 | 49.91 | -2.44 | 23.51 | 39.53 | -2.76 | 20.15 | 17.44 | 21.03 | 51.78 | 10.09 | 5.32 | 45.18 | 0.26 | 8.33 | 23.81 | 53.96 | -3.78 | 16.02 | 69.38 | -9.95 | 6.95 | 97.61 | 5.3 | -11.7 | 2.39 | -67.99 | 122.68 | 10.95 | -4.53 | 4.09 |
| 22Q1 (10) | 13.64 | 11.26 | 89.18 | 65.71 | -0.68 | 2.77 | 47.37 | -1.5 | 16.13 | 51.16 | 6.12 | 24.3 | 40.65 | -0.27 | 23.59 | 14.41 | 14.37 | 59.76 | 9.58 | 0.74 | 51.58 | 0.24 | 4.35 | 26.32 | 56.08 | 4.55 | 16.35 | 77.05 | 170.45 | 16.06 | 92.70 | -7.11 | -6.39 | 7.47 | 3612.73 | 669.44 | 11.47 | 3.05 | -21.65 |
| 21Q4 (9) | 12.26 | 22.11 | 81.9 | 66.16 | 1.04 | 2.57 | 48.09 | 2.43 | 16.92 | 48.21 | 4.42 | 26.57 | 40.76 | 11.21 | 23.25 | 12.60 | 7.97 | 57.7 | 9.51 | 22.08 | 55.14 | 0.23 | 9.52 | 27.78 | 53.64 | 2.58 | 17.19 | 28.49 | -24.15 | 21.03 | 99.80 | -1.79 | -7.5 | 0.20 | 112.47 | 102.55 | 11.13 | -7.25 | -12.43 |
| 21Q3 (8) | 10.04 | 13.96 | 47.21 | 65.48 | 0.31 | 2.86 | 46.95 | 5.15 | 13.96 | 46.17 | 14.25 | 16.33 | 36.65 | 11.4 | 15.14 | 11.67 | 1.57 | 32.46 | 7.79 | 12.09 | 29.19 | 0.21 | 0.0 | 10.53 | 52.29 | 12.43 | 11.09 | 37.56 | -42.1 | -2.57 | 101.61 | -8.08 | -2.09 | -1.61 | 84.7 | 57.33 | 12.00 | 14.07 | -4.38 |
| 21Q2 (7) | 8.81 | 22.19 | -6.87 | 65.28 | 2.1 | 4.57 | 44.65 | 9.46 | 3.31 | 40.41 | -1.82 | -7.17 | 32.90 | 0.03 | -8.13 | 11.49 | 27.38 | -15.89 | 6.95 | 9.97 | -16.67 | 0.21 | 10.53 | -8.7 | 46.51 | -3.51 | -5.62 | 64.87 | -2.29 | 16.19 | 110.54 | 11.62 | 11.11 | -10.54 | -1185.68 | -1477.3 | 10.52 | -28.14 | 0 |
| 21Q1 (6) | 7.21 | 6.97 | 12.83 | 63.94 | -0.87 | 2.45 | 40.79 | -0.83 | 2.08 | 41.16 | 8.06 | 8.32 | 32.89 | -0.54 | 10.41 | 9.02 | 12.89 | -0.11 | 6.32 | 3.1 | 4.64 | 0.19 | 5.56 | -5.0 | 48.20 | 5.31 | 6.92 | 66.39 | 182.03 | -9.83 | 99.03 | -8.22 | -6.04 | 0.97 | 112.3 | 119.28 | 14.64 | 15.18 | 18.16 |
| 20Q4 (5) | 6.74 | -1.17 | -1.32 | 64.50 | 1.32 | 3.12 | 41.13 | -0.17 | 1.53 | 38.09 | -4.03 | 3.87 | 33.07 | 3.9 | 2.7 | 7.99 | -9.31 | -13.62 | 6.13 | 1.66 | -9.85 | 0.18 | -5.26 | -14.29 | 45.77 | -2.76 | 6.74 | 23.54 | -38.94 | -21.09 | 107.89 | 3.96 | -2.42 | -7.89 | -108.85 | 25.28 | 12.71 | 1.27 | -9.28 |
| 20Q3 (4) | 6.82 | -27.91 | 0.0 | 63.66 | 1.97 | 0.0 | 41.20 | -4.67 | 0.0 | 39.69 | -8.82 | 0.0 | 31.83 | -11.11 | 0.0 | 8.81 | -35.51 | 0.0 | 6.03 | -27.7 | 0.0 | 0.19 | -17.39 | 0.0 | 47.07 | -4.48 | 0.0 | 38.55 | -30.95 | 0.0 | 103.78 | 4.31 | 0.0 | -3.78 | -593.93 | 0.0 | 12.55 | 0 | 0.0 |
| 20Q2 (3) | 9.46 | 48.04 | 0.0 | 62.43 | 0.03 | 0.0 | 43.22 | 8.16 | 0.0 | 43.53 | 14.55 | 0.0 | 35.81 | 20.21 | 0.0 | 13.66 | 51.27 | 0.0 | 8.34 | 38.08 | 0.0 | 0.23 | 15.0 | 0.0 | 49.28 | 9.32 | 0.0 | 55.83 | -24.17 | 0.0 | 99.49 | -5.6 | 0.0 | 0.77 | 115.2 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 6.39 | -6.44 | 0.0 | 62.41 | -0.22 | 0.0 | 39.96 | -1.36 | 0.0 | 38.00 | 3.63 | 0.0 | 29.79 | -7.48 | 0.0 | 9.03 | -2.38 | 0.0 | 6.04 | -11.18 | 0.0 | 0.20 | -4.76 | 0.0 | 45.08 | 5.13 | 0.0 | 73.63 | 146.83 | 0.0 | 105.40 | -4.68 | 0.0 | -5.04 | 52.34 | 0.0 | 12.39 | -11.56 | 0.0 |
| 19Q4 (1) | 6.83 | 0.0 | 0.0 | 62.55 | 0.0 | 0.0 | 40.51 | 0.0 | 0.0 | 36.67 | 0.0 | 0.0 | 32.20 | 0.0 | 0.0 | 9.25 | 0.0 | 0.0 | 6.80 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 42.88 | 0.0 | 0.0 | 29.83 | 0.0 | 0.0 | 110.57 | 0.0 | 0.0 | -10.57 | 0.0 | 0.0 | 14.01 | 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) | 26.66 | -52.15 | 64.14 | -1.46 | 34.49 | -26.62 | 4.09 | 102.91 | 38.17 | -23.95 | 32.16 | -20.42 | 24.20 | -53.83 | 19.38 | -51.83 | 0.60 | -39.39 | 48.24 | -12.1 | 18.52 | -42.25 | 90.38 | -3.5 | 9.62 | 51.6 | 13.64 | 6.83 | 16.78 | 55.8 |
| 2022 (9) | 55.72 | 45.48 | 65.09 | -0.34 | 47.00 | 3.48 | 2.02 | -22.0 | 50.19 | 13.4 | 40.41 | 11.97 | 52.42 | 30.76 | 40.23 | 26.39 | 0.99 | 12.5 | 54.88 | 8.98 | 32.07 | 12.57 | 93.65 | -8.73 | 6.35 | 0 | 12.77 | -10.46 | 10.77 | -9.72 |
| 2021 (8) | 38.30 | 30.36 | 65.31 | 3.35 | 45.42 | 9.5 | 2.58 | -13.95 | 44.26 | 10.51 | 36.09 | 10.06 | 40.09 | 12.45 | 31.83 | 12.63 | 0.88 | 2.33 | 50.36 | 7.31 | 28.49 | 21.03 | 102.61 | -0.94 | -2.61 | 0 | 14.26 | -29.23 | 11.93 | -1.97 |
| 2020 (7) | 29.38 | 20.46 | 63.19 | -0.08 | 41.48 | 2.19 | 3.00 | 52.21 | 40.05 | -1.55 | 32.79 | -2.0 | 35.65 | 6.42 | 28.26 | 6.08 | 0.86 | 8.86 | 46.93 | -0.11 | 23.54 | -21.09 | 103.59 | 3.89 | -3.59 | 0 | 20.16 | -15.03 | 12.17 | -7.24 |
| 2019 (6) | 24.39 | 20.74 | 63.24 | 5.59 | 40.59 | 9.29 | 1.97 | 37.07 | 40.68 | 2.57 | 33.46 | 5.05 | 33.50 | 7.61 | 26.64 | 6.65 | 0.79 | 1.28 | 46.98 | 1.91 | 29.83 | 37.91 | 99.70 | 6.43 | 0.20 | -96.87 | 23.72 | -24.15 | 13.12 | 1.94 |
| 2018 (5) | 20.20 | 28.66 | 59.89 | 3.42 | 37.14 | 8.63 | 1.44 | 9.03 | 39.66 | 19.42 | 31.85 | 13.55 | 31.13 | 16.55 | 24.98 | 23.72 | 0.78 | 8.33 | 46.10 | 15.05 | 21.63 | -23.22 | 93.68 | -9.07 | 6.32 | 0 | 31.27 | 0 | 12.87 | -3.16 |
| 2017 (4) | 15.70 | 11.58 | 57.91 | 1.58 | 34.19 | -13.97 | 1.32 | -42.69 | 33.21 | -17.82 | 28.05 | -15.36 | 26.71 | -11.47 | 20.19 | -13.53 | 0.72 | 2.86 | 40.07 | -7.97 | 28.17 | -25.61 | 103.02 | 4.75 | -2.86 | 0 | 0.00 | 0 | 13.29 | 25.26 |
| 2016 (3) | 14.07 | 30.4 | 57.01 | 2.04 | 39.74 | 7.17 | 2.30 | 14.35 | 40.41 | 3.06 | 33.14 | -3.24 | 30.17 | -14.97 | 23.35 | -22.86 | 0.70 | -20.45 | 43.54 | 0.79 | 37.87 | 163.35 | 98.35 | 3.96 | 1.65 | -69.35 | 0.00 | 0 | 10.61 | -11.88 |
| 2015 (2) | 10.79 | 0.65 | 55.87 | 1.51 | 37.08 | 3.92 | 2.01 | 23.15 | 39.21 | 3.18 | 34.25 | 4.42 | 35.48 | -0.98 | 30.27 | 0.53 | 0.88 | -4.35 | 43.20 | 2.15 | 14.38 | -32.04 | 94.60 | 0.8 | 5.40 | -12.28 | 0.00 | 0 | 12.04 | 5.34 |
| 2014 (1) | 10.72 | 44.86 | 55.04 | 0 | 35.68 | 0 | 1.64 | -43.14 | 38.00 | 0 | 32.80 | 0 | 35.83 | 0 | 30.11 | 0 | 0.92 | 4.55 | 42.29 | 12.09 | 21.16 | 27.39 | 93.85 | 0.03 | 6.15 | -0.51 | 0.00 | 0 | 11.43 | -11.4 |
