- 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) | 1.85 | -29.92 | 18.59 | 51.00 | -8.91 | 0.28 | 17.99 | 1.35 | 26.16 | 20.03 | -31.1 | 17.34 | 16.02 | -37.37 | 17.11 | 2.72 | -33.17 | 10.12 | 1.45 | -28.22 | 16.94 | 0.09 | 12.5 | 0.0 | 21.18 | -30.31 | 13.75 | 82.73 | -10.54 | -19.44 | 89.84 | 47.17 | 7.89 | 10.16 | -73.91 | -37.74 | 15.85 | -11.85 | -13.2 |
| 24Q2 (19) | 2.64 | 44.26 | 49.15 | 55.99 | 2.72 | 10.5 | 17.75 | -10.76 | 2.19 | 29.07 | 28.86 | 48.47 | 25.58 | 45.67 | 66.97 | 4.07 | 23.33 | 26.4 | 2.02 | 27.85 | 28.66 | 0.08 | -11.11 | -20.0 | 30.39 | 27.53 | 43.89 | 92.48 | -15.87 | -2.81 | 61.04 | -30.77 | -31.27 | 38.96 | 229.45 | 248.4 | 17.98 | 6.71 | 6.96 |
| 24Q1 (18) | 1.83 | 15.09 | -15.67 | 54.51 | 7.96 | 1.57 | 19.89 | 55.76 | 12.31 | 22.56 | 46.02 | 12.07 | 17.56 | 44.41 | 10.23 | 3.30 | 41.63 | -4.07 | 1.58 | 38.6 | -1.86 | 0.09 | 0.0 | -10.0 | 23.83 | 33.8 | 10.48 | 109.93 | 2.67 | -5.42 | 88.17 | 6.34 | 0.17 | 11.83 | -32.43 | -1.26 | 16.85 | -5.07 | -3.44 |
| 23Q4 (17) | 1.59 | 1.92 | -24.29 | 50.49 | -0.73 | -7.34 | 12.77 | -10.45 | -20.58 | 15.45 | -9.49 | -20.32 | 12.16 | -11.11 | -23.43 | 2.33 | -5.67 | -30.86 | 1.14 | -8.06 | -32.14 | 0.09 | 0.0 | -18.18 | 17.81 | -4.35 | -14.58 | 107.07 | 4.26 | -2.9 | 82.92 | -0.42 | 0.13 | 17.50 | 7.19 | 1.82 | 17.75 | -2.79 | 1.02 |
| 23Q3 (16) | 1.56 | -11.86 | -8.24 | 50.86 | 0.37 | -1.87 | 14.26 | -17.9 | -7.64 | 17.07 | -12.82 | -3.78 | 13.68 | -10.7 | -1.37 | 2.47 | -23.29 | -13.03 | 1.24 | -21.02 | -15.65 | 0.09 | -10.0 | -18.18 | 18.62 | -11.84 | -2.56 | 102.70 | 7.93 | 11.81 | 83.27 | -6.25 | -4.39 | 16.33 | 46.01 | 26.41 | 18.26 | 8.63 | 2.99 |
| 23Q2 (15) | 1.77 | -18.43 | 16.45 | 50.67 | -5.59 | -8.92 | 17.37 | -1.92 | -0.46 | 19.58 | -2.73 | 4.54 | 15.32 | -3.83 | 3.44 | 3.22 | -6.4 | 9.52 | 1.57 | -2.48 | 6.8 | 0.10 | 0.0 | 0.0 | 21.12 | -2.09 | 4.87 | 95.15 | -18.14 | 0.05 | 88.82 | 0.9 | -4.49 | 11.18 | -6.63 | 68.35 | 16.81 | -3.67 | -11.15 |
| 23Q1 (14) | 2.17 | 3.33 | 37.34 | 53.67 | -1.5 | -0.04 | 17.71 | 10.14 | 14.33 | 20.13 | 3.82 | 20.54 | 15.93 | 0.31 | 21.33 | 3.44 | 2.08 | 31.8 | 1.61 | -4.17 | 24.81 | 0.10 | -9.09 | 0.0 | 21.57 | 3.45 | 19.17 | 116.23 | 5.4 | 10.84 | 88.02 | 6.29 | -5.03 | 11.98 | -30.32 | 63.67 | 17.45 | -0.68 | -9.73 |
| 22Q4 (13) | 2.10 | 23.53 | 31.25 | 54.49 | 5.13 | -3.28 | 16.08 | 4.15 | -9.1 | 19.39 | 9.3 | 5.21 | 15.88 | 14.49 | 13.02 | 3.37 | 18.66 | 26.69 | 1.68 | 14.29 | 24.44 | 0.11 | 0.0 | 10.0 | 20.85 | 9.11 | 4.09 | 110.27 | 20.05 | 9.44 | 82.81 | -4.91 | -13.9 | 17.19 | 33.08 | 309.37 | 17.57 | -0.9 | -9.67 |
| 22Q3 (12) | 1.70 | 11.84 | 1.8 | 51.83 | -6.83 | 4.92 | 15.44 | -11.52 | -1.97 | 17.74 | -5.29 | 4.11 | 13.87 | -6.35 | -0.93 | 2.84 | -3.4 | -8.68 | 1.47 | 0.0 | -9.26 | 0.11 | 10.0 | -8.33 | 19.11 | -5.11 | 1.7 | 91.85 | -3.42 | -3.16 | 87.08 | -6.35 | -5.74 | 12.92 | 94.44 | 69.66 | 17.73 | -6.29 | 11.65 |
| 22Q2 (11) | 1.52 | -3.8 | -24.0 | 55.63 | 3.61 | 14.23 | 17.45 | 12.65 | 4.74 | 18.73 | 12.16 | 5.34 | 14.81 | 12.8 | 4.96 | 2.94 | 12.64 | -6.37 | 1.47 | 13.95 | -11.98 | 0.10 | 0.0 | -16.67 | 20.14 | 11.27 | 5.45 | 95.10 | -9.31 | 6.38 | 92.99 | 0.33 | -0.6 | 6.64 | -9.23 | 2.95 | 18.92 | -2.12 | 20.36 |
| 22Q1 (10) | 1.58 | -1.25 | 0.0 | 53.69 | -4.7 | 12.89 | 15.49 | -12.44 | 10.17 | 16.70 | -9.39 | 17.28 | 13.13 | -6.55 | 20.24 | 2.61 | -1.88 | 4.4 | 1.29 | -4.44 | -4.44 | 0.10 | 0.0 | -16.67 | 18.10 | -9.64 | 15.58 | 104.86 | 4.07 | 21.1 | 92.68 | -3.64 | -6.18 | 7.32 | 74.28 | 502.44 | 19.33 | -0.62 | 25.85 |
| 21Q4 (9) | 1.60 | -4.19 | -3.03 | 56.34 | 14.05 | 5.11 | 17.69 | 12.32 | 24.58 | 18.43 | 8.16 | 20.07 | 14.05 | 0.36 | 8.16 | 2.66 | -14.47 | -9.52 | 1.35 | -16.67 | -15.09 | 0.10 | -16.67 | -16.67 | 20.03 | 6.6 | 16.25 | 100.76 | 6.23 | 20.17 | 96.18 | 4.11 | 3.89 | 4.20 | -44.85 | -43.43 | 19.45 | 22.48 | 15.09 |
| 21Q3 (8) | 1.67 | -16.5 | -16.5 | 49.40 | 1.44 | 0.96 | 15.75 | -5.46 | 15.89 | 17.04 | -4.16 | -5.33 | 14.00 | -0.78 | -5.08 | 3.11 | -0.96 | -16.62 | 1.62 | -2.99 | -16.49 | 0.12 | 0.0 | -7.69 | 18.79 | -1.62 | -4.91 | 94.85 | 6.1 | 10.12 | 92.39 | -1.24 | 22.3 | 7.61 | 17.99 | -68.88 | 15.88 | 1.02 | 8.84 |
| 21Q2 (7) | 2.00 | 26.58 | -0.99 | 48.70 | 2.4 | -6.53 | 16.66 | 18.49 | -1.24 | 17.78 | 24.86 | -0.39 | 14.11 | 29.21 | 1.88 | 3.14 | 25.6 | -14.91 | 1.67 | 23.7 | -12.11 | 0.12 | 0.0 | -14.29 | 19.10 | 21.97 | -1.39 | 89.40 | 3.25 | -9.31 | 93.55 | -5.3 | -1.16 | 6.45 | 431.18 | 20.43 | 15.72 | 2.34 | 0 |
| 21Q1 (6) | 1.58 | -4.24 | -24.04 | 47.56 | -11.27 | -7.25 | 14.06 | -0.99 | -12.56 | 14.24 | -7.23 | -17.02 | 10.92 | -15.94 | -17.71 | 2.50 | -14.97 | -29.97 | 1.35 | -15.09 | -30.05 | 0.12 | 0.0 | -20.0 | 15.66 | -9.11 | -15.99 | 86.59 | 3.27 | -4.85 | 98.79 | 6.7 | 5.5 | 1.21 | -83.64 | -80.91 | 15.36 | -9.11 | 0 |
| 20Q4 (5) | 1.65 | -17.5 | 22.22 | 53.60 | 9.54 | -2.9 | 14.20 | 4.49 | 15.64 | 15.35 | -14.72 | 16.82 | 12.99 | -11.93 | 27.85 | 2.94 | -21.18 | 35.48 | 1.59 | -18.04 | 34.75 | 0.12 | -7.69 | 0.0 | 17.23 | -12.8 | 13.21 | 83.85 | -2.65 | 5.17 | 92.58 | 22.55 | -0.92 | 7.42 | -69.65 | 13.04 | 16.90 | 15.83 | -0.76 |
| 20Q3 (4) | 2.00 | -0.99 | 0.0 | 48.93 | -6.08 | 0.0 | 13.59 | -19.44 | 0.0 | 18.00 | 0.84 | 0.0 | 14.75 | 6.5 | 0.0 | 3.73 | 1.08 | 0.0 | 1.94 | 2.11 | 0.0 | 0.13 | -7.14 | 0.0 | 19.76 | 2.01 | 0.0 | 86.13 | -12.63 | 0.0 | 75.54 | -20.18 | 0.0 | 24.46 | 356.55 | 0.0 | 14.59 | 0 | 0.0 |
| 20Q2 (3) | 2.02 | -2.88 | 0.0 | 52.10 | 1.6 | 0.0 | 16.87 | 4.91 | 0.0 | 17.85 | 4.02 | 0.0 | 13.85 | 4.37 | 0.0 | 3.69 | 3.36 | 0.0 | 1.90 | -1.55 | 0.0 | 0.14 | -6.67 | 0.0 | 19.37 | 3.92 | 0.0 | 98.58 | 8.33 | 0.0 | 94.64 | 1.07 | 0.0 | 5.36 | -15.82 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 2.08 | 54.07 | 0.0 | 51.28 | -7.1 | 0.0 | 16.08 | 30.94 | 0.0 | 17.16 | 30.59 | 0.0 | 13.27 | 30.61 | 0.0 | 3.57 | 64.52 | 0.0 | 1.93 | 63.56 | 0.0 | 0.15 | 25.0 | 0.0 | 18.64 | 22.47 | 0.0 | 91.00 | 14.14 | 0.0 | 93.64 | 0.22 | 0.0 | 6.36 | -3.08 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 1.35 | 0.0 | 0.0 | 55.20 | 0.0 | 0.0 | 12.28 | 0.0 | 0.0 | 13.14 | 0.0 | 0.0 | 10.16 | 0.0 | 0.0 | 2.17 | 0.0 | 0.0 | 1.18 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 15.22 | 0.0 | 0.0 | 79.73 | 0.0 | 0.0 | 93.43 | 0.0 | 0.0 | 6.57 | 0.0 | 0.0 | 17.03 | 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) | 7.09 | 2.75 | 51.46 | -4.53 | 15.60 | -3.11 | 0.99 | -3.97 | 18.12 | -0.22 | 14.32 | -0.97 | 11.07 | -1.6 | 5.31 | -3.1 | 0.37 | -2.63 | 19.84 | 1.22 | 107.07 | -2.9 | 86.05 | -2.9 | 13.95 | 22.63 | 2.86 | -4.79 | 17.55 | -4.41 |
| 2022 (9) | 6.90 | 0.88 | 53.90 | 7.31 | 16.10 | 0.88 | 1.03 | 8.25 | 18.16 | 8.1 | 14.46 | 9.3 | 11.25 | -2.51 | 5.48 | -8.67 | 0.38 | -15.56 | 19.60 | 6.99 | 110.27 | 9.44 | 88.63 | -6.75 | 11.37 | 129.3 | 3.00 | -1.53 | 18.36 | 11.48 |
| 2021 (8) | 6.84 | -11.86 | 50.23 | -2.35 | 15.96 | 4.72 | 0.95 | -0.91 | 16.80 | -1.93 | 13.23 | -3.57 | 11.54 | -15.77 | 6.00 | -20.42 | 0.45 | -18.18 | 18.32 | -2.45 | 100.76 | 20.17 | 95.04 | 6.79 | 4.96 | -55.26 | 3.05 | -13.58 | 16.47 | 9.29 |
| 2020 (7) | 7.76 | 55.2 | 51.44 | -5.75 | 15.24 | 17.23 | 0.96 | -14.94 | 17.13 | 19.87 | 13.72 | 20.03 | 13.70 | 42.56 | 7.54 | 42.0 | 0.55 | 19.57 | 18.78 | 13.82 | 83.85 | 5.17 | 89.00 | -2.2 | 11.08 | 23.11 | 3.53 | -8.22 | 15.07 | -16.0 |
| 2019 (6) | 5.00 | 35.14 | 54.58 | -2.27 | 13.00 | 23.22 | 1.13 | 109.58 | 14.29 | 21.51 | 11.43 | 34.47 | 9.61 | 34.03 | 5.31 | 32.75 | 0.46 | -2.13 | 16.50 | 20.26 | 79.73 | -4.69 | 91.00 | 1.4 | 9.00 | -12.25 | 3.85 | -8.16 | 17.94 | -0.83 |
| 2018 (5) | 3.70 | 12.8 | 55.85 | 222.46 | 10.55 | 299.62 | 0.54 | 266.71 | 11.76 | 272.15 | 8.50 | 261.7 | 7.17 | 25.79 | 4.00 | 23.08 | 0.47 | -65.94 | 13.72 | 261.05 | 83.65 | 9.83 | 89.74 | 7.86 | 10.26 | -38.19 | 4.19 | 0 | 18.09 | 199.5 |
| 2017 (4) | 3.28 | -0.61 | 17.32 | -7.92 | 2.64 | 31.34 | 0.15 | -4.6 | 3.16 | 5.33 | 2.35 | -0.84 | 5.70 | -0.87 | 3.25 | -4.41 | 1.38 | -4.17 | 3.80 | -7.32 | 76.16 | 2.32 | 83.20 | 24.53 | 16.60 | -49.99 | 0.00 | 0 | 6.04 | -8.9 |
| 2016 (3) | 3.30 | 36.36 | 18.81 | -8.02 | 2.01 | 26.42 | 0.15 | -12.15 | 3.00 | 47.06 | 2.37 | 127.88 | 5.75 | 135.66 | 3.40 | 132.88 | 1.44 | 2.86 | 4.10 | 19.53 | 74.43 | 15.97 | 66.81 | -14.14 | 33.19 | 49.61 | 0.00 | 0 | 6.63 | -11.01 |
| 2015 (2) | 2.42 | -40.83 | 20.45 | -19.07 | 1.59 | -50.77 | 0.18 | -30.64 | 2.04 | -47.83 | 1.04 | -64.26 | 2.44 | -66.02 | 1.46 | -65.97 | 1.40 | -4.76 | 3.43 | -36.01 | 64.18 | -8.0 | 77.81 | -5.79 | 22.19 | 27.46 | 0.00 | 0 | 7.45 | -5.7 |
| 2014 (1) | 4.09 | 35.88 | 25.27 | 0 | 3.23 | 0 | 0.25 | -73.66 | 3.91 | 0 | 2.91 | 0 | 7.18 | 0 | 4.29 | 0 | 1.47 | 23.53 | 5.36 | -25.14 | 69.76 | 8.12 | 82.59 | 8.85 | 17.41 | -27.83 | 0.00 | 0 | 7.90 | -26.51 |
