- 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) | 1.83 | -0.54 | -27.67 | 17.99 | 1.87 | 1.12 | 5.21 | 5.47 | -5.1 | 5.11 | 5.14 | -1.16 | 4.06 | 2.01 | -3.33 | 3.56 | -4.81 | -42.3 | 1.34 | 6.35 | -19.28 | 0.31 | 3.33 | -16.22 | 7.31 | 4.58 | 3.69 | 174.68 | -10.14 | -39.48 | 102.04 | 0.53 | -3.91 | -2.04 | -23.57 | 67.07 | 10.35 | 2.68 | 3.6 |
| 24Q2 (19) | 1.84 | -21.7 | -10.24 | 17.66 | 1.85 | 20.71 | 4.94 | -6.62 | 8.57 | 4.86 | -5.45 | 13.02 | 3.98 | -4.56 | 18.1 | 3.74 | -23.98 | -32.12 | 1.26 | -16.56 | -11.89 | 0.30 | -11.76 | -21.05 | 6.99 | -0.57 | 11.66 | 194.39 | -20.31 | -38.01 | 101.50 | -1.46 | -3.92 | -1.65 | 45.12 | 70.75 | 10.08 | 11.75 | 20.29 |
| 24Q1 (18) | 2.35 | -12.31 | 19.29 | 17.34 | -11.03 | 26.66 | 5.29 | -7.03 | 26.56 | 5.14 | -10.3 | 31.79 | 4.17 | -6.71 | 29.1 | 4.92 | -13.07 | -6.99 | 1.51 | -6.21 | 16.15 | 0.34 | 0.0 | -5.56 | 7.03 | -7.62 | 22.26 | 243.92 | -6.69 | -29.74 | 103.00 | 3.7 | -3.91 | -3.00 | -548.22 | 58.27 | 9.02 | -8.7 | 5.13 |
| 23Q4 (17) | 2.68 | 5.93 | 10.74 | 19.49 | 9.56 | 40.82 | 5.69 | 3.64 | 32.63 | 5.73 | 10.83 | 41.83 | 4.47 | 6.43 | 34.23 | 5.66 | -8.27 | -10.3 | 1.61 | -3.01 | 8.78 | 0.34 | -8.11 | -17.07 | 7.61 | 7.94 | 36.38 | 261.41 | -9.43 | -25.68 | 99.33 | -6.46 | -6.58 | 0.67 | 110.83 | 110.6 | 9.88 | -1.1 | 22.73 |
| 23Q3 (16) | 2.53 | 23.41 | 21.05 | 17.79 | 21.6 | 34.16 | 5.49 | 20.66 | 46.01 | 5.17 | 20.23 | 48.14 | 4.20 | 24.63 | 45.83 | 6.17 | 11.98 | 8.44 | 1.66 | 16.08 | 25.76 | 0.37 | -2.63 | -11.9 | 7.05 | 12.62 | 40.72 | 288.63 | -7.95 | -21.61 | 106.19 | 0.52 | -1.53 | -6.19 | -9.76 | 21.04 | 9.99 | 19.21 | 22.88 |
| 23Q2 (15) | 2.05 | 4.06 | 14.53 | 14.63 | 6.87 | 11.0 | 4.55 | 8.85 | 22.64 | 4.30 | 10.26 | 19.44 | 3.37 | 4.33 | 15.02 | 5.51 | 4.16 | 6.17 | 1.43 | 10.0 | 20.17 | 0.38 | 5.56 | 0.0 | 6.26 | 8.87 | 17.67 | 313.56 | -9.68 | -13.52 | 105.64 | -1.46 | 2.27 | -5.64 | 21.71 | -81.41 | 8.38 | -2.33 | 1.82 |
| 23Q1 (14) | 1.97 | -18.6 | 52.71 | 13.69 | -1.08 | 5.71 | 4.18 | -2.56 | 41.22 | 3.90 | -3.47 | 29.57 | 3.23 | -3.0 | 26.67 | 5.29 | -16.16 | 34.95 | 1.30 | -12.16 | 38.3 | 0.36 | -12.2 | 2.86 | 5.75 | 3.05 | 16.87 | 347.17 | -1.3 | -5.59 | 107.20 | 0.82 | 8.92 | -7.20 | -13.84 | -557.28 | 8.58 | 6.58 | -6.02 |
| 22Q4 (13) | 2.42 | 15.79 | 62.42 | 13.84 | 4.37 | 11.25 | 4.29 | 14.1 | 25.81 | 4.04 | 15.76 | 22.05 | 3.33 | 15.63 | 18.09 | 6.31 | 10.9 | 35.7 | 1.48 | 12.12 | 30.97 | 0.41 | -2.38 | 7.89 | 5.58 | 11.38 | 8.56 | 351.73 | -4.47 | 10.88 | 106.33 | -1.4 | 3.25 | -6.33 | 19.28 | -112.64 | 8.05 | -0.98 | -8.31 |
| 22Q3 (12) | 2.09 | 16.76 | 186.3 | 13.26 | 0.61 | 1.07 | 3.76 | 1.35 | 79.05 | 3.49 | -3.06 | 60.09 | 2.88 | -1.71 | 74.55 | 5.69 | 9.63 | 147.39 | 1.32 | 10.92 | 120.0 | 0.42 | 10.53 | 27.27 | 5.01 | -5.83 | 17.88 | 368.20 | 1.55 | 4.61 | 107.84 | 4.4 | 11.52 | -7.84 | -152.17 | -337.07 | 8.13 | -1.22 | -16.62 |
| 22Q2 (11) | 1.79 | 38.76 | 171.21 | 13.18 | 1.78 | 1.85 | 3.71 | 25.34 | 90.26 | 3.60 | 19.6 | 105.71 | 2.93 | 14.9 | 76.51 | 5.19 | 32.4 | 151.94 | 1.19 | 26.6 | 108.77 | 0.38 | 8.57 | 18.75 | 5.32 | 8.13 | 33.67 | 362.58 | -1.4 | 23.05 | 103.29 | 4.94 | -7.3 | -3.11 | -297.35 | 71.37 | 8.23 | -9.86 | -15.24 |
| 22Q1 (10) | 1.29 | -13.42 | 130.36 | 12.95 | 4.1 | -2.56 | 2.96 | -13.2 | 62.64 | 3.01 | -9.06 | 68.16 | 2.55 | -9.57 | 74.66 | 3.92 | -15.7 | 120.22 | 0.94 | -16.81 | 88.0 | 0.35 | -7.89 | 12.9 | 4.92 | -4.28 | 21.18 | 367.73 | 15.92 | 29.2 | 98.43 | -4.42 | -2.71 | 1.57 | 152.94 | 190.29 | 9.13 | 3.99 | -17.38 |
| 21Q4 (9) | 1.49 | 104.11 | 22.13 | 12.44 | -5.18 | -16.84 | 3.41 | 62.38 | -5.01 | 3.31 | 51.83 | -0.9 | 2.82 | 70.91 | 2.55 | 4.65 | 102.17 | 20.47 | 1.13 | 88.33 | 8.65 | 0.38 | 15.15 | 5.56 | 5.14 | 20.94 | -4.46 | 317.23 | -9.87 | 7.14 | 102.97 | 6.5 | -4.34 | -2.97 | -189.99 | 61.11 | 8.78 | -9.95 | -12.9 |
| 21Q3 (8) | 0.73 | 10.61 | -35.4 | 13.12 | 1.39 | -17.69 | 2.10 | 7.69 | -44.88 | 2.18 | 24.57 | -41.24 | 1.65 | -0.6 | -44.26 | 2.30 | 11.65 | -41.62 | 0.60 | 5.26 | -44.44 | 0.33 | 3.13 | -5.71 | 4.25 | 6.78 | -28.93 | 351.96 | 19.45 | 26.11 | 96.69 | -13.22 | -5.72 | 3.31 | 130.45 | 228.93 | 9.75 | 0.41 | -14.92 |
| 21Q2 (7) | 0.66 | 17.86 | -31.96 | 12.94 | -2.63 | -12.74 | 1.95 | 7.14 | -37.1 | 1.75 | -2.23 | -46.15 | 1.66 | 13.7 | -36.64 | 2.06 | 15.73 | -38.69 | 0.57 | 14.0 | -43.56 | 0.32 | 3.23 | -13.51 | 3.98 | -1.97 | -21.96 | 294.66 | 3.52 | 5.6 | 111.43 | 10.15 | 16.86 | -10.86 | -522.48 | -333.43 | 9.71 | -12.13 | 0 |
| 21Q1 (6) | 0.56 | -54.1 | 60.0 | 13.29 | -11.16 | -7.26 | 1.82 | -49.3 | 14.47 | 1.79 | -46.41 | 16.99 | 1.46 | -46.91 | 13.18 | 1.78 | -53.89 | 54.78 | 0.50 | -51.92 | 21.95 | 0.31 | -13.89 | 14.81 | 4.06 | -24.54 | -1.46 | 284.63 | -3.87 | 26.5 | 101.16 | -6.03 | -2.58 | -1.74 | 77.2 | 54.65 | 11.05 | 9.62 | -8.07 |
| 20Q4 (5) | 1.22 | 7.96 | -14.69 | 14.96 | -6.15 | 1.36 | 3.59 | -5.77 | 40.78 | 3.34 | -9.97 | -26.75 | 2.75 | -7.09 | -25.47 | 3.86 | -2.03 | -17.7 | 1.04 | -3.7 | -27.27 | 0.36 | 2.86 | -2.7 | 5.38 | -10.03 | -16.98 | 296.09 | 6.09 | 22.84 | 107.65 | 4.96 | 92.36 | -7.65 | -198.3 | -117.37 | 10.08 | -12.04 | -9.76 |
| 20Q3 (4) | 1.13 | 16.49 | 0.0 | 15.94 | 7.48 | 0.0 | 3.81 | 22.9 | 0.0 | 3.71 | 14.15 | 0.0 | 2.96 | 12.98 | 0.0 | 3.94 | 17.26 | 0.0 | 1.08 | 6.93 | 0.0 | 0.35 | -5.41 | 0.0 | 5.98 | 17.25 | 0.0 | 279.10 | 0.02 | 0.0 | 102.56 | 7.57 | 0.0 | -2.56 | -155.13 | 0.0 | 11.46 | 0 | 0.0 |
| 20Q2 (3) | 0.97 | 177.14 | 0.0 | 14.83 | 3.49 | 0.0 | 3.10 | 94.97 | 0.0 | 3.25 | 112.42 | 0.0 | 2.62 | 103.1 | 0.0 | 3.36 | 192.17 | 0.0 | 1.01 | 146.34 | 0.0 | 0.37 | 37.04 | 0.0 | 5.10 | 23.79 | 0.0 | 279.04 | 24.01 | 0.0 | 95.35 | -8.18 | 0.0 | 4.65 | 220.93 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.35 | -75.52 | 0.0 | 14.33 | -2.91 | 0.0 | 1.59 | -37.65 | 0.0 | 1.53 | -66.45 | 0.0 | 1.29 | -65.04 | 0.0 | 1.15 | -75.48 | 0.0 | 0.41 | -71.33 | 0.0 | 0.27 | -27.03 | 0.0 | 4.12 | -36.42 | 0.0 | 225.01 | -6.65 | 0.0 | 103.85 | 85.56 | 0.0 | -3.85 | -108.73 | 0.0 | 12.02 | 7.61 | 0.0 |
| 19Q4 (1) | 1.43 | 0.0 | 0.0 | 14.76 | 0.0 | 0.0 | 2.55 | 0.0 | 0.0 | 4.56 | 0.0 | 0.0 | 3.69 | 0.0 | 0.0 | 4.69 | 0.0 | 0.0 | 1.43 | 0.0 | 0.0 | 0.37 | 0.0 | 0.0 | 6.48 | 0.0 | 0.0 | 241.03 | 0.0 | 0.0 | 55.96 | 0.0 | 0.0 | 44.04 | 0.0 | 0.0 | 11.17 | 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) | 9.17 | 21.14 | 16.40 | 22.85 | 4.97 | 32.89 | 1.15 | 3.9 | 4.77 | 33.24 | 3.82 | 29.05 | 20.76 | -1.84 | 5.65 | 8.45 | 1.36 | -17.07 | 6.67 | 27.53 | 261.41 | -25.68 | 104.22 | -0.48 | -4.18 | 0 | 0.79 | -26.85 | 9.21 | 10.56 |
| 2022 (9) | 7.57 | 120.06 | 13.35 | 3.41 | 3.74 | 55.83 | 1.11 | -28.74 | 3.58 | 52.99 | 2.96 | 51.02 | 21.15 | 95.83 | 5.21 | 82.81 | 1.64 | 21.48 | 5.23 | 18.59 | 351.73 | 10.88 | 104.72 | 2.04 | -4.68 | 0 | 1.08 | -13.47 | 8.33 | -14.48 |
| 2021 (8) | 3.44 | -6.01 | 12.91 | -14.33 | 2.40 | -23.57 | 1.56 | -7.35 | 2.34 | -23.78 | 1.96 | -21.6 | 10.80 | -7.69 | 2.85 | -15.43 | 1.35 | 6.3 | 4.41 | -15.68 | 317.23 | 7.14 | 102.63 | 0.28 | -2.63 | 0 | 1.25 | -9.41 | 9.74 | -10.64 |
| 2020 (7) | 3.66 | -13.06 | 15.07 | -5.64 | 3.14 | 1.29 | 1.68 | -4.35 | 3.07 | -23.63 | 2.50 | -23.08 | 11.70 | -16.96 | 3.37 | -24.94 | 1.27 | -0.78 | 5.23 | -18.03 | 296.09 | 22.84 | 102.34 | 32.52 | -2.34 | 0 | 1.38 | 5.94 | 10.90 | -7.63 |
| 2019 (6) | 4.21 | 26.81 | 15.97 | 19.09 | 3.10 | 14.81 | 1.76 | 19.29 | 4.02 | 30.1 | 3.25 | 27.95 | 14.09 | 18.2 | 4.49 | 19.1 | 1.28 | -7.91 | 6.38 | 26.34 | 241.03 | 3.29 | 77.23 | -11.61 | 22.77 | 80.41 | 1.30 | -15.21 | 11.80 | 8.36 |
| 2018 (5) | 3.32 | -38.29 | 13.41 | 2.92 | 2.70 | -31.99 | 1.47 | 21.81 | 3.09 | -24.63 | 2.54 | -23.95 | 11.92 | -32.54 | 3.77 | -31.58 | 1.39 | -12.58 | 5.05 | -11.09 | 233.36 | -3.86 | 87.38 | -9.77 | 12.62 | 308.0 | 1.54 | 0 | 10.89 | 34.94 |
| 2017 (4) | 5.38 | -10.63 | 13.03 | -10.94 | 3.97 | -17.81 | 1.21 | 2.08 | 4.10 | -16.5 | 3.34 | -15.87 | 17.67 | -13.21 | 5.51 | -15.75 | 1.59 | 0.0 | 5.68 | -13.02 | 242.74 | 8.75 | 96.84 | -1.41 | 3.09 | 74.3 | 0.00 | 0 | 8.07 | -7.13 |
| 2016 (3) | 6.02 | 8.08 | 14.63 | 2.74 | 4.83 | 1.68 | 1.19 | -4.38 | 4.91 | 8.63 | 3.97 | 7.3 | 20.36 | 2.0 | 6.54 | -2.53 | 1.59 | -8.09 | 6.53 | 6.35 | 223.21 | -0.67 | 98.23 | -6.61 | 1.77 | 0 | 0.00 | 0 | 8.69 | -1.7 |
| 2015 (2) | 5.57 | 32.3 | 14.24 | -9.64 | 4.75 | -6.68 | 1.24 | -17.39 | 4.52 | -11.89 | 3.70 | -9.54 | 19.96 | 13.41 | 6.71 | 3.55 | 1.73 | 16.89 | 6.14 | -15.08 | 224.72 | 14.13 | 105.18 | 5.98 | -5.12 | 0 | 0.00 | 0 | 8.84 | -10.53 |
| 2014 (1) | 4.21 | 0.48 | 15.76 | 0 | 5.09 | 0 | 1.50 | -6.15 | 5.13 | 0 | 4.09 | 0 | 17.60 | 0 | 6.48 | 0 | 1.48 | 2.07 | 7.23 | -5.24 | 196.89 | 7.42 | 99.24 | 16.54 | 0.76 | -94.9 | 0.00 | 0 | 9.88 | -5.45 |
