- 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) | 3.43 | -0.29 | -3.65 | 69.43 | -1.13 | -1.41 | 40.60 | 7.84 | -2.96 | 43.37 | 4.91 | -1.5 | 34.99 | 5.65 | 0.14 | 9.56 | 4.14 | -5.16 | 5.43 | 11.04 | -7.5 | 0.15 | 0.0 | -11.76 | 46.60 | 4.25 | -0.6 | 76.22 | -2.66 | 4.81 | 93.73 | 2.8 | -1.49 | 6.27 | -28.89 | 29.15 | 37.35 | 0.54 | 7.33 |
| 24Q2 (19) | 3.44 | 12.79 | -7.77 | 70.22 | -0.37 | 0.86 | 37.65 | 0.03 | -4.51 | 41.34 | 2.4 | -4.68 | 33.12 | 2.76 | -4.66 | 9.18 | 9.29 | -7.83 | 4.89 | 8.67 | -11.73 | 0.15 | 7.14 | -6.25 | 44.70 | 2.03 | -2.91 | 78.30 | -22.38 | 9.36 | 91.18 | -2.38 | 0.12 | 8.82 | 33.61 | -1.26 | 37.15 | -0.91 | -10.22 |
| 24Q1 (18) | 3.05 | 7.77 | -6.73 | 70.48 | 3.07 | -1.22 | 37.64 | 8.16 | -4.13 | 40.37 | 6.15 | -3.44 | 32.23 | 13.73 | -3.21 | 8.40 | 6.33 | -5.62 | 4.50 | -1.32 | -8.72 | 0.14 | -12.5 | -6.67 | 43.81 | 6.26 | -2.51 | 100.88 | 34.35 | 12.25 | 93.40 | 2.15 | -0.83 | 6.60 | -22.96 | 4.64 | 37.49 | -6.02 | 0.56 |
| 23Q4 (17) | 2.83 | -20.51 | -14.5 | 68.38 | -2.9 | -1.28 | 34.80 | -16.83 | -4.94 | 38.03 | -13.63 | -4.64 | 28.34 | -18.89 | -10.91 | 7.90 | -21.63 | -12.12 | 4.56 | -22.32 | -9.7 | 0.16 | -5.88 | 0.0 | 41.23 | -12.05 | -3.31 | 75.09 | 3.26 | 3.2 | 91.43 | -3.9 | -0.35 | 8.57 | 76.43 | 3.87 | 39.89 | 14.63 | 4.64 |
| 23Q3 (16) | 3.56 | -4.56 | 4.4 | 70.42 | 1.15 | 3.18 | 41.84 | 6.11 | 7.31 | 44.03 | 1.52 | 4.26 | 34.94 | 0.58 | 5.05 | 10.08 | 1.2 | 6.89 | 5.87 | 5.96 | 10.34 | 0.17 | 6.25 | 6.25 | 46.88 | 1.82 | 3.79 | 72.72 | 1.56 | -14.49 | 95.14 | 4.48 | 2.83 | 4.86 | -45.63 | -35.02 | 34.80 | -15.9 | -6.73 |
| 23Q2 (15) | 3.73 | 14.07 | 9.38 | 69.62 | -2.42 | -2.25 | 39.43 | 0.43 | 0.28 | 43.37 | 3.73 | 0.95 | 34.74 | 4.32 | 0.09 | 9.96 | 11.91 | -0.3 | 5.54 | 12.37 | 6.13 | 0.16 | 6.67 | 6.67 | 46.04 | 2.45 | 0.5 | 71.60 | -20.33 | 2.08 | 91.06 | -3.3 | -0.4 | 8.94 | 41.6 | 4.26 | 41.38 | 11.0 | 5.53 |
| 23Q1 (14) | 3.27 | -1.21 | 9.0 | 71.35 | 3.0 | -3.98 | 39.26 | 7.24 | -2.0 | 41.81 | 4.84 | -1.58 | 33.30 | 4.68 | -0.12 | 8.90 | -1.0 | 6.59 | 4.93 | -2.38 | 10.79 | 0.15 | -6.25 | 15.38 | 44.94 | 5.39 | -1.75 | 89.87 | 23.52 | -23.07 | 94.17 | 2.65 | -0.04 | 6.31 | -23.53 | 9.0 | 37.28 | -2.2 | 20.84 |
| 22Q4 (13) | 3.31 | -2.93 | -2.36 | 69.27 | 1.49 | -4.11 | 36.61 | -6.1 | -12.58 | 39.88 | -5.56 | -12.7 | 31.81 | -4.36 | -10.77 | 8.99 | -4.67 | 0.9 | 5.05 | -5.08 | 1.41 | 0.16 | 0.0 | 14.29 | 42.64 | -5.6 | -12.12 | 72.76 | -14.44 | 11.39 | 91.75 | -0.84 | -0.38 | 8.25 | 10.38 | -1.43 | 38.12 | 2.17 | 7.17 |
| 22Q3 (12) | 3.41 | 0.0 | 2.71 | 68.25 | -4.17 | -4.38 | 38.99 | -0.84 | 0.31 | 42.23 | -1.7 | 0.98 | 33.26 | -4.18 | 0.18 | 9.43 | -5.61 | 33.19 | 5.32 | 1.92 | 28.81 | 0.16 | 6.67 | 33.33 | 45.17 | -1.4 | 0.09 | 85.04 | 21.24 | -10.11 | 92.52 | 1.2 | -0.71 | 7.48 | -12.77 | 9.66 | 37.31 | -4.85 | -4.7 |
| 22Q2 (11) | 3.41 | 13.67 | -5.8 | 71.22 | -4.16 | -3.94 | 39.32 | -1.85 | -12.47 | 42.96 | 1.13 | -12.02 | 34.71 | 4.11 | -9.09 | 9.99 | 19.64 | 35.73 | 5.22 | 17.3 | 8.52 | 0.15 | 15.38 | 15.38 | 45.81 | 0.15 | -12.53 | 70.14 | -39.96 | 32.67 | 91.43 | -2.95 | -0.44 | 8.57 | 48.05 | 5.0 | 39.21 | 27.1 | 13.52 |
| 22Q1 (10) | 3.00 | -11.5 | -12.54 | 74.31 | 2.87 | -1.93 | 40.06 | -4.35 | -6.05 | 42.48 | -7.01 | -6.47 | 33.34 | -6.48 | -9.18 | 8.35 | -6.29 | 11.48 | 4.45 | -10.64 | -7.48 | 0.13 | -7.14 | 0.0 | 45.74 | -5.73 | -6.84 | 116.82 | 78.84 | 118.27 | 94.21 | 2.3 | 0.42 | 5.79 | -30.85 | -6.32 | 30.85 | -13.27 | -5.02 |
| 21Q4 (9) | 3.39 | 2.11 | 4.95 | 72.24 | 1.2 | -2.79 | 41.88 | 7.74 | 10.18 | 45.68 | 9.23 | 9.54 | 35.65 | 7.38 | 5.22 | 8.91 | 25.85 | 15.12 | 4.98 | 20.58 | 1.63 | 0.14 | 16.67 | 0.0 | 48.52 | 7.51 | 7.23 | 65.32 | -30.95 | 12.14 | 92.09 | -1.17 | 1.18 | 8.37 | 22.79 | -6.79 | 35.57 | -9.14 | 10.4 |
| 21Q3 (8) | 3.32 | -8.29 | -15.09 | 71.38 | -3.72 | -8.43 | 38.87 | -13.47 | -19.86 | 41.82 | -14.36 | -19.11 | 33.20 | -13.04 | -19.77 | 7.08 | -3.8 | -32.44 | 4.13 | -14.14 | -29.04 | 0.12 | -7.69 | -14.29 | 45.13 | -13.82 | -18.11 | 94.60 | 78.93 | 64.21 | 93.18 | 1.46 | -0.57 | 6.82 | -16.48 | 8.57 | 39.15 | 13.35 | 34.44 |
| 21Q2 (7) | 3.62 | 5.54 | -10.4 | 74.14 | -2.15 | -6.35 | 44.92 | 5.35 | -13.47 | 48.83 | 7.51 | -13.59 | 38.18 | 4.0 | -14.57 | 7.36 | -1.74 | -27.42 | 4.81 | 0.0 | -16.49 | 0.13 | 0.0 | 0.0 | 52.37 | 6.66 | -12.64 | 52.87 | -1.21 | -49.7 | 91.84 | -2.11 | 0.19 | 8.16 | 32.1 | -2.04 | 34.54 | 6.34 | 0 |
| 21Q1 (6) | 3.43 | 6.19 | -3.65 | 75.77 | 1.96 | -4.43 | 42.64 | 12.18 | -13.95 | 45.42 | 8.92 | -14.17 | 36.71 | 8.35 | -12.7 | 7.49 | -3.23 | -8.88 | 4.81 | -1.84 | -9.93 | 0.13 | -7.14 | 0.0 | 49.10 | 8.51 | -13.46 | 53.52 | -8.12 | 0.89 | 93.82 | 3.08 | 0.18 | 6.18 | -31.2 | -2.67 | 32.48 | 0.81 | 0 |
| 20Q4 (5) | 3.23 | -17.39 | -3.0 | 74.31 | -4.67 | -2.21 | 38.01 | -21.63 | -18.52 | 41.70 | -19.34 | -16.4 | 33.88 | -18.12 | -12.66 | 7.74 | -26.15 | -6.52 | 4.90 | -15.81 | -6.31 | 0.14 | 0.0 | 7.69 | 45.25 | -17.89 | -15.53 | 58.25 | 1.11 | 5.66 | 91.02 | -2.88 | -2.56 | 8.98 | 43.02 | 36.23 | 32.22 | 10.65 | 0 |
| 20Q3 (4) | 3.91 | -3.22 | 0.0 | 77.95 | -1.54 | 0.0 | 48.50 | -6.57 | 0.0 | 51.70 | -8.51 | 0.0 | 41.38 | -7.41 | 0.0 | 10.48 | 3.35 | 0.0 | 5.82 | 1.04 | 0.0 | 0.14 | 7.69 | 0.0 | 55.11 | -8.07 | 0.0 | 57.61 | -45.19 | 0.0 | 93.72 | 2.24 | 0.0 | 6.28 | -24.64 | 0.0 | 29.12 | 0 | 0.0 |
| 20Q2 (3) | 4.04 | 13.48 | 0.0 | 79.17 | -0.14 | 0.0 | 51.91 | 4.76 | 0.0 | 56.51 | 6.78 | 0.0 | 44.69 | 6.28 | 0.0 | 10.14 | 23.36 | 0.0 | 5.76 | 7.87 | 0.0 | 0.13 | 0.0 | 0.0 | 59.95 | 5.66 | 0.0 | 105.10 | 98.11 | 0.0 | 91.67 | -2.12 | 0.0 | 8.33 | 31.25 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 3.56 | 6.91 | 0.0 | 79.28 | 4.33 | 0.0 | 49.55 | 6.22 | 0.0 | 52.92 | 6.09 | 0.0 | 42.05 | 8.4 | 0.0 | 8.22 | -0.72 | 0.0 | 5.34 | 2.1 | 0.0 | 0.13 | 0.0 | 0.0 | 56.74 | 5.92 | 0.0 | 53.05 | -3.77 | 0.0 | 93.65 | 0.26 | 0.0 | 6.35 | -3.7 | 0.0 | 0.00 | 0 | 0.0 |
| 19Q4 (1) | 3.33 | 0.0 | 0.0 | 75.99 | 0.0 | 0.0 | 46.65 | 0.0 | 0.0 | 49.88 | 0.0 | 0.0 | 38.79 | 0.0 | 0.0 | 8.28 | 0.0 | 0.0 | 5.23 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 53.57 | 0.0 | 0.0 | 55.13 | 0.0 | 0.0 | 93.41 | 0.0 | 0.0 | 6.59 | 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) | 12.74 | -2.9 | 69.90 | -1.05 | 38.83 | 0.36 | 2.42 | 2.95 | 41.81 | -0.1 | 32.81 | -1.35 | 35.84 | 6.32 | 20.67 | 3.35 | 0.63 | 5.0 | 44.79 | 0.0 | 75.09 | 3.2 | 92.88 | 0.48 | 7.12 | -5.85 | 1.86 | -20.25 | 38.34 | 4.95 |
| 2022 (9) | 13.12 | 8.16 | 70.64 | -3.63 | 38.69 | -7.95 | 2.35 | -13.94 | 41.85 | -7.82 | 33.26 | -7.33 | 33.71 | 6.27 | 20.00 | 1.99 | 0.60 | 9.09 | 44.79 | -8.07 | 72.76 | 11.39 | 92.44 | -0.12 | 7.56 | 1.48 | 2.34 | -11.03 | 36.53 | 2.9 |
| 2021 (8) | 12.13 | -17.71 | 73.30 | -5.55 | 42.03 | -10.31 | 2.73 | -2.23 | 45.40 | -10.24 | 35.89 | -11.19 | 31.72 | -8.16 | 19.61 | -11.07 | 0.55 | 0.0 | 48.72 | -9.83 | 65.32 | 12.14 | 92.55 | -0.14 | 7.45 | 1.83 | 2.63 | -19.04 | 35.50 | 18.89 |
| 2020 (7) | 14.74 | 4.24 | 77.61 | -1.36 | 46.86 | -4.07 | 2.79 | 10.78 | 50.58 | -1.73 | 40.41 | -1.27 | 34.54 | 0.44 | 22.05 | -0.23 | 0.55 | 1.85 | 54.03 | -1.22 | 58.25 | 5.66 | 92.68 | -2.28 | 7.32 | 45.57 | 3.24 | -12.61 | 29.86 | 4.08 |
| 2019 (6) | 14.14 | 0.71 | 78.68 | -0.57 | 48.85 | -0.81 | 2.52 | 28.54 | 51.47 | 0.98 | 40.93 | -0.1 | 34.39 | 1.24 | 22.10 | 0.55 | 0.54 | 0.0 | 54.70 | 2.15 | 55.13 | -1.9 | 94.84 | -1.77 | 5.03 | 51.6 | 3.71 | -10.01 | 28.69 | 3.95 |
| 2018 (5) | 14.04 | -6.4 | 79.13 | 0.93 | 49.25 | 12.14 | 1.96 | -0.44 | 50.97 | 13.98 | 40.97 | -12.18 | 33.97 | 25.03 | 21.98 | 19.65 | 0.54 | 8.0 | 53.55 | 13.12 | 56.20 | 6.22 | 96.55 | -1.68 | 3.32 | 84.77 | 4.12 | 0 | 27.60 | -14.6 |
| 2017 (4) | 15.00 | 14.77 | 78.40 | -0.66 | 43.92 | -2.31 | 1.97 | 101.02 | 44.72 | -3.6 | 46.65 | 20.51 | 27.17 | -8.7 | 18.37 | -18.36 | 0.50 | -13.79 | 47.34 | -1.4 | 52.91 | 22.85 | 98.21 | 1.42 | 1.79 | -40.51 | 0.00 | 0 | 32.32 | 61.52 |
| 2016 (3) | 13.07 | 7.48 | 78.92 | -1.61 | 44.96 | 7.48 | 0.98 | 20.77 | 46.39 | 5.07 | 38.71 | 5.39 | 29.76 | 7.48 | 22.50 | -1.4 | 0.58 | -6.45 | 48.01 | 4.83 | 43.07 | 102.3 | 96.83 | 2.3 | 3.02 | -41.71 | 0.00 | 0 | 20.01 | 21.49 |
| 2015 (2) | 12.16 | -13.82 | 80.21 | 2.23 | 41.83 | -5.17 | 0.81 | 16.71 | 44.15 | -6.22 | 36.73 | -4.45 | 27.69 | -20.86 | 22.82 | -18.38 | 0.62 | -15.07 | 45.80 | -4.14 | 21.29 | -0.14 | 94.66 | 0.99 | 5.18 | -17.5 | 0.00 | 0 | 16.47 | 7.02 |
| 2014 (1) | 14.11 | 14.81 | 78.46 | 0 | 44.11 | 0 | 0.70 | -18.16 | 47.08 | 0 | 38.44 | 0 | 34.99 | 0 | 27.96 | 0 | 0.73 | -7.59 | 47.78 | 6.41 | 21.32 | -37.0 | 93.73 | 0.79 | 6.27 | -10.45 | 0.00 | 0 | 15.39 | 5.7 |
