- 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) | 2.49 | 39.11 | 26.4 | 62.09 | -1.85 | 1.7 | 7.34 | 5.16 | -6.02 | 17.87 | 39.94 | 37.15 | 14.77 | 31.29 | 23.08 | 4.61 | 36.8 | 6.71 | 2.05 | 35.76 | 7.89 | 0.13 | 8.33 | -13.33 | 31.79 | 15.9 | 17.96 | 132.88 | -8.71 | -5.54 | 40.88 | -25.55 | -31.51 | 59.12 | 31.13 | 46.65 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 1.79 | -24.47 | 30.66 | 63.26 | 3.05 | 3.76 | 6.98 | -22.36 | -2.51 | 12.77 | -25.97 | 12.12 | 11.25 | -19.01 | 26.12 | 3.37 | -26.9 | 12.33 | 1.51 | -26.7 | 10.22 | 0.12 | -14.29 | -14.29 | 27.43 | -10.53 | 7.06 | 145.56 | 8.49 | 1.29 | 54.92 | 5.66 | -12.63 | 45.08 | -6.12 | 21.37 | 34.40 | 5.46 | 6.97 |
| 24Q1 (18) | 2.37 | 43.64 | 20.92 | 61.39 | -1.54 | -1.29 | 8.99 | 11.68 | -17.45 | 17.25 | 34.35 | 20.04 | 13.89 | 37.52 | 14.51 | 4.61 | 34.4 | 5.98 | 2.06 | 33.77 | 6.19 | 0.14 | 0.0 | -6.67 | 30.66 | 15.0 | 10.37 | 134.17 | -4.74 | 2.83 | 51.98 | -17.1 | -31.35 | 48.02 | 28.74 | 97.74 | 32.62 | -0.09 | 1.75 |
| 23Q4 (17) | 1.65 | -16.24 | 211.32 | 62.35 | 2.13 | 3.04 | 8.05 | 3.07 | 10.27 | 12.84 | -1.46 | 244.24 | 10.10 | -15.83 | 175.96 | 3.43 | -20.6 | 178.86 | 1.54 | -18.95 | 152.46 | 0.14 | -6.67 | 0.0 | 26.66 | -1.08 | 40.91 | 140.85 | 0.12 | -2.37 | 62.70 | 5.04 | -68.15 | 37.30 | -7.46 | 138.5 | 32.65 | 1.94 | 6.14 |
| 23Q3 (16) | 1.97 | 43.8 | 26.28 | 61.05 | 0.13 | -0.47 | 7.81 | 9.08 | -5.68 | 13.03 | 14.4 | -0.38 | 12.00 | 34.53 | 14.72 | 4.32 | 44.0 | 18.36 | 1.90 | 38.69 | 16.56 | 0.15 | 7.14 | 0.0 | 26.95 | 5.19 | -0.22 | 140.68 | -2.11 | -3.54 | 59.69 | -5.04 | -5.63 | 40.31 | 8.53 | 9.68 | 32.03 | -0.4 | 3.76 |
| 23Q2 (15) | 1.37 | -30.1 | 541.94 | 60.97 | -1.96 | -0.28 | 7.16 | -34.25 | 842.11 | 11.39 | -20.74 | 429.19 | 8.92 | -26.46 | 437.88 | 3.00 | -31.03 | 528.57 | 1.37 | -29.38 | 785.0 | 0.14 | -6.67 | 16.67 | 25.62 | -7.78 | 81.32 | 143.71 | 10.14 | 13.83 | 62.86 | -16.98 | 414.29 | 37.14 | 52.94 | -69.05 | 32.16 | 0.31 | -8.58 |
| 23Q1 (14) | 1.96 | 269.81 | 84.91 | 62.19 | 2.78 | 2.07 | 10.89 | 49.18 | 103.17 | 14.37 | 285.25 | 45.3 | 12.13 | 231.42 | 56.31 | 4.35 | 253.66 | 87.5 | 1.94 | 218.03 | 67.24 | 0.15 | 7.14 | 7.14 | 27.78 | 46.83 | 12.2 | 130.48 | -9.56 | 16.87 | 75.71 | -61.54 | 39.38 | 24.29 | 125.07 | -46.83 | 32.06 | 4.23 | -5.43 |
| 22Q4 (13) | 0.53 | -66.03 | -73.37 | 60.51 | -1.35 | -0.64 | 7.30 | -11.84 | -38.03 | 3.73 | -71.48 | -78.19 | 3.66 | -65.01 | -72.95 | 1.23 | -66.3 | -73.32 | 0.61 | -62.58 | -71.89 | 0.14 | -6.67 | -6.67 | 18.92 | -29.95 | -38.23 | 144.27 | -1.08 | 24.07 | 196.88 | 211.28 | 186.71 | -96.88 | -363.59 | -409.18 | 30.76 | -0.36 | 6.99 |
| 22Q3 (12) | 1.56 | 603.23 | 26.83 | 61.34 | 0.33 | 3.84 | 8.28 | 989.47 | 503.9 | 13.08 | 478.03 | 7.04 | 10.46 | 496.21 | -5.0 | 3.65 | 621.43 | 29.89 | 1.63 | 915.0 | 18.98 | 0.15 | 25.0 | 25.0 | 27.01 | 91.15 | -8.6 | 145.85 | 15.52 | 16.78 | 63.25 | 416.24 | 465.93 | 36.75 | -69.37 | -68.33 | 30.87 | -12.25 | -14.04 |
| 22Q2 (11) | -0.31 | -129.25 | -193.94 | 61.14 | 0.34 | 4.51 | 0.76 | -85.82 | 107.71 | -3.46 | -134.98 | -186.28 | -2.64 | -134.02 | -183.28 | -0.70 | -130.17 | -200.0 | -0.20 | -117.24 | -150.0 | 0.12 | -14.29 | 20.0 | 14.13 | -42.93 | -40.58 | 126.25 | 13.08 | 13.59 | -20.00 | -136.82 | 91.86 | 120.00 | 162.7 | -64.88 | 35.18 | 3.78 | -8.19 |
| 22Q1 (10) | 1.06 | -46.73 | -17.19 | 60.93 | 0.05 | 0.1 | 5.36 | -54.5 | 13.08 | 9.89 | -42.16 | -19.13 | 7.76 | -42.65 | -19.67 | 2.32 | -49.67 | -19.16 | 1.16 | -46.54 | -17.14 | 0.14 | -6.67 | 0.0 | 24.76 | -19.16 | -9.6 | 111.65 | -3.98 | -2.73 | 54.32 | -20.89 | 40.94 | 45.68 | 45.78 | -25.67 | 33.90 | 17.91 | 0.92 |
| 21Q4 (9) | 1.99 | 61.79 | 8.74 | 60.90 | 3.1 | 3.89 | 11.78 | 674.63 | 138.95 | 17.10 | 39.93 | 4.72 | 13.53 | 22.89 | -2.87 | 4.61 | 64.06 | 7.96 | 2.17 | 58.39 | 9.05 | 0.15 | 25.0 | 7.14 | 30.63 | 3.65 | -2.85 | 116.28 | -6.89 | -1.0 | 68.67 | 497.29 | 129.49 | 31.33 | -73.0 | -55.29 | 28.75 | -19.94 | -4.64 |
| 21Q3 (8) | 1.23 | 272.73 | -30.11 | 59.07 | 0.97 | -0.71 | -2.05 | 79.21 | -134.17 | 12.22 | 204.74 | -20.96 | 11.01 | 247.32 | -12.34 | 2.81 | 301.43 | -35.84 | 1.37 | 242.5 | -30.46 | 0.12 | 20.0 | -20.0 | 29.55 | 24.26 | -0.71 | 124.89 | 12.36 | -3.64 | -17.28 | 92.97 | -144.94 | 116.05 | -66.03 | 90.97 | 35.91 | -6.29 | 15.39 |
| 21Q2 (7) | 0.33 | -74.22 | -47.62 | 58.50 | -3.89 | -4.85 | -9.86 | -308.02 | -1087.95 | 4.01 | -67.21 | -43.76 | 3.17 | -67.18 | -43.39 | 0.70 | -75.61 | -53.64 | 0.40 | -71.43 | -47.37 | 0.10 | -28.57 | -16.67 | 23.78 | -13.18 | -3.29 | 111.15 | -3.16 | -16.95 | -245.83 | -737.84 | -2210.83 | 341.67 | 455.93 | 202.99 | 38.32 | 14.08 | 0 |
| 21Q1 (6) | 1.28 | -30.05 | 37.63 | 60.87 | 3.84 | 1.01 | 4.74 | -3.85 | -15.51 | 12.23 | -25.11 | 39.45 | 9.66 | -30.65 | 38.99 | 2.87 | -32.79 | 34.74 | 1.40 | -29.65 | 28.44 | 0.14 | 0.0 | -6.67 | 27.39 | -13.13 | 16.55 | 114.78 | -2.27 | 5.35 | 38.54 | 28.81 | -39.56 | 61.46 | -12.3 | 69.63 | 33.59 | 11.41 | 0 |
| 20Q4 (5) | 1.83 | 3.98 | -16.06 | 58.62 | -1.46 | 2.11 | 4.93 | -17.83 | 0.2 | 16.33 | 5.63 | -1.63 | 13.93 | 10.91 | -13.64 | 4.27 | -2.51 | -18.82 | 1.99 | 1.02 | -21.34 | 0.14 | -6.67 | -6.67 | 31.53 | 5.95 | 2.07 | 117.45 | -9.38 | 6.3 | 29.92 | -22.2 | 0.24 | 70.08 | 15.32 | -0.1 | 30.15 | -3.12 | 0 |
| 20Q3 (4) | 1.76 | 179.37 | 0.0 | 59.49 | -3.24 | 0.0 | 6.00 | 822.89 | 0.0 | 15.46 | 116.83 | 0.0 | 12.56 | 124.29 | 0.0 | 4.38 | 190.07 | 0.0 | 1.97 | 159.21 | 0.0 | 0.15 | 25.0 | 0.0 | 29.76 | 21.02 | 0.0 | 129.61 | -3.16 | 0.0 | 38.46 | 461.54 | 0.0 | 60.77 | -46.11 | 0.0 | 31.12 | 0 | 0.0 |
| 20Q2 (3) | 0.63 | -32.26 | 0.0 | 61.48 | 2.02 | 0.0 | -0.83 | -114.8 | 0.0 | 7.13 | -18.7 | 0.0 | 5.60 | -19.42 | 0.0 | 1.51 | -29.11 | 0.0 | 0.76 | -30.28 | 0.0 | 0.12 | -20.0 | 0.0 | 24.59 | 4.64 | 0.0 | 133.84 | 22.85 | 0.0 | -10.64 | -116.68 | 0.0 | 112.77 | 211.23 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 0.93 | -57.34 | 0.0 | 60.26 | 4.96 | 0.0 | 5.61 | 14.02 | 0.0 | 8.77 | -47.17 | 0.0 | 6.95 | -56.91 | 0.0 | 2.13 | -59.51 | 0.0 | 1.09 | -56.92 | 0.0 | 0.15 | 0.0 | 0.0 | 23.50 | -23.92 | 0.0 | 108.95 | -1.39 | 0.0 | 63.77 | 113.62 | 0.0 | 36.23 | -48.35 | 0.0 | 0.00 | 0 | 0.0 |
| 19Q4 (1) | 2.18 | 0.0 | 0.0 | 57.41 | 0.0 | 0.0 | 4.92 | 0.0 | 0.0 | 16.60 | 0.0 | 0.0 | 16.13 | 0.0 | 0.0 | 5.26 | 0.0 | 0.0 | 2.53 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 30.89 | 0.0 | 0.0 | 110.49 | 0.0 | 0.0 | 29.85 | 0.0 | 0.0 | 70.15 | 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) | 6.96 | 145.94 | 61.65 | 1.1 | 8.49 | 49.74 | 12.68 | -10.44 | 12.93 | 107.21 | 10.82 | 109.69 | 15.03 | 131.59 | 6.63 | 107.19 | 0.57 | 3.64 | 26.79 | 24.43 | 140.85 | -2.37 | 65.73 | -27.59 | 34.27 | 271.54 | 0.21 | -29.79 | 32.23 | -0.92 |
| 2022 (9) | 2.83 | -41.41 | 60.98 | 1.65 | 5.67 | 142.31 | 14.16 | -6.25 | 6.24 | -48.09 | 5.16 | -47.4 | 6.49 | -40.29 | 3.20 | -39.74 | 0.55 | 7.84 | 21.53 | -23.44 | 144.27 | 24.07 | 90.78 | 367.23 | 9.22 | -88.55 | 0.30 | -4.74 | 32.53 | -3.24 |
| 2021 (8) | 4.83 | -5.85 | 59.99 | 0.15 | 2.34 | -43.61 | 15.10 | 5.35 | 12.02 | -1.23 | 9.81 | -1.6 | 10.87 | -8.42 | 5.31 | -9.23 | 0.51 | -8.93 | 28.12 | 2.25 | 116.28 | -1.0 | 19.43 | -42.94 | 80.57 | 22.17 | 0.31 | 4.75 | 33.62 | 4.18 |
| 2020 (7) | 5.13 | -18.7 | 59.90 | 2.78 | 4.15 | -19.57 | 14.34 | 8.49 | 12.17 | -11.49 | 9.97 | -14.93 | 11.87 | -22.52 | 5.85 | -27.24 | 0.56 | -15.15 | 27.50 | -0.97 | 117.45 | 6.3 | 34.05 | -9.34 | 65.95 | 5.62 | 0.30 | 6.71 | 32.27 | 3.23 |
| 2019 (6) | 6.31 | 49.53 | 58.28 | 0.87 | 5.16 | -6.52 | 13.22 | 335.67 | 13.75 | 13.92 | 11.72 | 43.63 | 15.32 | 44.26 | 8.04 | 35.81 | 0.66 | -7.04 | 27.77 | 78.82 | 110.49 | 28.48 | 37.56 | -17.78 | 62.44 | 14.95 | 0.28 | 13.32 | 31.26 | 1.72 |
| 2018 (5) | 4.22 | -16.6 | 57.78 | -0.21 | 5.52 | 0.91 | 3.03 | -1.69 | 12.07 | -7.65 | 8.16 | -22.8 | 10.62 | -18.5 | 5.92 | -18.9 | 0.71 | 5.97 | 15.53 | -6.73 | 86.00 | 4.38 | 45.68 | 9.21 | 54.32 | -6.19 | 0.25 | 0 | 30.73 | 1.15 |
| 2017 (4) | 5.06 | -15.38 | 57.90 | -1.33 | 5.47 | 16.63 | 3.09 | -1.15 | 13.07 | -20.55 | 10.57 | -20.65 | 13.03 | -17.01 | 7.30 | -16.67 | 0.67 | 4.69 | 16.65 | -17.16 | 82.39 | -2.78 | 41.82 | 47.04 | 57.91 | -18.82 | 0.00 | 0 | 30.38 | -2.66 |
| 2016 (3) | 5.98 | -3.86 | 58.68 | -1.59 | 4.69 | -6.01 | 3.12 | 13.31 | 16.45 | -8.81 | 13.32 | -9.33 | 15.70 | -7.54 | 8.76 | -14.03 | 0.64 | -7.25 | 20.10 | -4.19 | 84.75 | 2.28 | 28.44 | 2.8 | 71.33 | -1.38 | 0.00 | 0 | 31.21 | -1.05 |
| 2015 (2) | 6.22 | 5.96 | 59.63 | -0.85 | 4.99 | -13.67 | 2.75 | 8.39 | 18.04 | -0.39 | 14.69 | 0.0 | 16.98 | -0.99 | 10.19 | -11.62 | 0.69 | -11.54 | 20.98 | 0.91 | 82.86 | 64.63 | 27.67 | -13.41 | 72.33 | 6.3 | 0.00 | 0 | 31.54 | 1.68 |
| 2014 (1) | 5.87 | -1.18 | 60.14 | 0 | 5.78 | 0 | 2.54 | 2.68 | 18.11 | 0 | 14.69 | 0 | 17.15 | 0 | 11.53 | 0 | 0.78 | -6.02 | 20.79 | -5.93 | 50.33 | 6.47 | 31.95 | 18.26 | 68.05 | -6.76 | 0.00 | 0 | 31.02 | -3.33 |
