- 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) | 4.94 | 3.35 | 50.15 | 48.20 | -0.52 | 4.58 | 44.34 | 0.16 | 6.03 | 44.35 | 0.25 | 6.2 | 35.48 | 0.25 | 6.2 | 14.65 | -11.59 | 15.26 | 6.37 | 1.11 | 60.86 | 0.18 | 0.0 | 50.0 | 44.38 | 0.25 | 6.05 | 116.66 | -20.2 | -41.82 | 100.00 | -0.08 | -0.11 | 0.00 | 100.0 | 100.0 | 0.86 | 4.88 | -16.5 |
| 24Q2 (19) | 4.78 | -2.45 | 72.56 | 48.45 | 2.02 | 2.43 | 44.27 | 2.19 | 6.67 | 44.24 | 2.12 | 6.58 | 35.39 | 2.11 | 5.99 | 16.57 | 0.12 | 36.72 | 6.30 | -2.17 | 88.62 | 0.18 | -5.26 | 80.0 | 44.27 | 2.08 | 6.57 | 146.19 | -20.32 | -40.41 | 100.08 | 0.08 | 0.08 | -0.08 | 0 | 0 | 0.82 | 2.5 | -23.36 |
| 24Q1 (18) | 4.90 | -7.55 | 311.76 | 47.49 | 3.4 | -3.32 | 43.32 | 5.76 | 1.86 | 43.32 | 5.87 | 1.79 | 34.66 | 5.9 | 2.06 | 16.55 | -5.75 | 234.34 | 6.44 | -2.72 | 338.1 | 0.19 | -5.0 | 375.0 | 43.37 | 5.81 | 1.69 | 183.48 | 34.63 | -35.28 | 100.00 | -0.14 | 0.0 | 0.00 | 100.0 | 0 | 0.80 | -8.05 | -59.39 |
| 23Q4 (17) | 5.30 | 61.09 | 270.63 | 45.93 | -0.35 | -12.9 | 40.96 | -2.06 | -6.27 | 40.92 | -2.01 | -6.51 | 32.73 | -2.04 | -6.49 | 17.56 | 38.16 | 218.12 | 6.62 | 67.17 | 261.75 | 0.20 | 66.67 | 300.0 | 40.99 | -2.05 | -6.33 | 136.28 | -32.03 | -31.83 | 100.14 | 0.03 | 0.14 | -0.14 | -24.17 | -154.03 | 0.87 | -15.53 | -53.72 |
| 23Q3 (16) | 3.29 | 18.77 | 11.9 | 46.09 | -2.56 | -11.38 | 41.82 | 0.77 | -14.81 | 41.76 | 0.6 | -14.91 | 33.41 | 0.06 | -14.94 | 12.71 | 4.87 | 2.67 | 3.96 | 18.56 | 1.02 | 0.12 | 20.0 | 20.0 | 41.85 | 0.75 | -14.78 | 200.51 | -18.27 | -1.39 | 100.11 | 0.11 | 0.11 | -0.11 | 0 | 0 | 1.03 | -3.74 | -13.45 |
| 23Q2 (15) | 2.77 | 132.77 | 250.63 | 47.30 | -3.71 | -11.57 | 41.50 | -2.42 | -7.41 | 41.51 | -2.47 | -7.41 | 33.39 | -1.68 | -8.14 | 12.12 | 144.85 | 235.73 | 3.34 | 127.21 | 187.93 | 0.10 | 150.0 | 233.33 | 41.54 | -2.6 | -7.32 | 245.34 | -13.46 | 6.79 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0 | 1.07 | -45.69 | -66.87 |
| 23Q1 (14) | 1.19 | -16.78 | -37.04 | 49.12 | -6.85 | 1.61 | 42.53 | -2.68 | -0.23 | 42.56 | -2.76 | -0.16 | 33.96 | -2.97 | -5.43 | 4.95 | -10.33 | -35.88 | 1.47 | -19.67 | -51.0 | 0.04 | -20.0 | -50.0 | 42.65 | -2.54 | -0.05 | 283.50 | 41.81 | 45.13 | 100.00 | 0.0 | 0.0 | 0.00 | -100.0 | 0 | 1.97 | 4.79 | 11.3 |
| 22Q4 (13) | 1.43 | -51.36 | -62.86 | 52.73 | 1.38 | 16.45 | 43.70 | -10.98 | 10.02 | 43.77 | -10.82 | 10.2 | 35.00 | -10.9 | 3.4 | 5.52 | -55.41 | -63.18 | 1.83 | -53.32 | -69.75 | 0.05 | -50.0 | -72.22 | 43.76 | -10.89 | 10.06 | 199.91 | -1.69 | 56.03 | 100.00 | 0.0 | 0.0 | 0.26 | 0 | 0 | 1.88 | 57.98 | 116.09 |
| 22Q3 (12) | 2.94 | 272.15 | 104.17 | 52.01 | -2.77 | 26.39 | 49.09 | 9.53 | 40.1 | 49.08 | 9.48 | 40.07 | 39.28 | 8.06 | 31.28 | 12.38 | 242.94 | 97.76 | 3.92 | 237.93 | 73.45 | 0.10 | 233.33 | 25.0 | 49.11 | 9.57 | 40.11 | 203.34 | -11.5 | 18.93 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0 | 1.19 | -63.16 | -33.15 |
| 22Q2 (11) | 0.79 | -58.2 | -66.95 | 53.49 | 10.65 | 27.69 | 44.82 | 5.14 | 21.69 | 44.83 | 5.16 | 21.69 | 36.35 | 1.23 | 13.35 | 3.61 | -53.24 | -68.19 | 1.16 | -61.33 | -70.26 | 0.03 | -62.5 | -75.0 | 44.82 | 5.04 | 21.63 | 229.75 | 17.62 | 25.49 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0 | 3.23 | 82.49 | 190.99 |
| 22Q1 (10) | 1.89 | -50.91 | 54.92 | 48.34 | 6.76 | 21.37 | 42.63 | 7.33 | 26.61 | 42.63 | 7.33 | 26.54 | 35.91 | 6.09 | 21.61 | 7.72 | -48.5 | 32.87 | 3.00 | -50.41 | 36.36 | 0.08 | -55.56 | 14.29 | 42.67 | 7.32 | 26.73 | 195.34 | 52.47 | -2.13 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0 | 1.77 | 103.45 | 0.0 |
| 21Q4 (9) | 3.85 | 167.36 | 117.51 | 45.28 | 10.04 | 12.16 | 39.72 | 13.36 | 18.28 | 39.72 | 13.36 | 18.28 | 33.85 | 13.14 | 7.97 | 14.99 | 139.46 | 79.31 | 6.05 | 167.7 | 72.36 | 0.18 | 125.0 | 63.64 | 39.76 | 13.44 | 18.23 | 128.12 | -25.07 | -3.77 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0 | 0.87 | -51.12 | -42.0 |
| 21Q3 (8) | 1.44 | -39.75 | 34.58 | 41.15 | -1.77 | 32.1 | 35.04 | -4.86 | 38.94 | 35.04 | -4.89 | 38.88 | 29.92 | -6.7 | 19.97 | 6.26 | -44.85 | 15.07 | 2.26 | -42.05 | 3.2 | 0.08 | -33.33 | -11.11 | 35.05 | -4.88 | 38.87 | 170.98 | -6.61 | 18.72 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0 | 1.78 | 60.36 | -1.11 |
| 21Q2 (7) | 2.39 | 95.9 | 251.47 | 41.89 | 5.17 | 32.86 | 36.83 | 9.39 | 53.39 | 36.84 | 9.35 | 53.37 | 32.07 | 8.6 | 36.12 | 11.35 | 95.35 | 231.87 | 3.90 | 77.27 | 176.6 | 0.12 | 71.43 | 100.0 | 36.85 | 9.44 | 53.29 | 183.08 | -8.28 | 19.56 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0 | 1.11 | -37.29 | 0 |
| 21Q1 (6) | 1.22 | -31.07 | 510.0 | 39.83 | -1.34 | 36.59 | 33.67 | 0.27 | 127.96 | 33.69 | 0.33 | 127.79 | 29.53 | -5.81 | 104.64 | 5.81 | -30.5 | 486.87 | 2.20 | -37.32 | 400.0 | 0.07 | -36.36 | 133.33 | 33.67 | 0.12 | 125.97 | 199.60 | 49.92 | 51.44 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0 | 1.77 | 18.0 | -69.69 |
| 20Q4 (5) | 1.77 | 65.42 | 108.24 | 40.37 | 29.6 | 41.55 | 33.58 | 33.15 | 64.04 | 33.58 | 33.1 | 63.8 | 31.35 | 25.7 | 62.35 | 8.36 | 53.68 | 92.63 | 3.51 | 60.27 | 80.0 | 0.11 | 22.22 | 10.0 | 33.63 | 33.24 | 64.21 | 133.14 | -7.55 | 9.36 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0 | 1.50 | -16.67 | 0.67 |
| 20Q3 (4) | 1.07 | 57.35 | 0.0 | 31.15 | -1.21 | 0.0 | 25.22 | 5.04 | 0.0 | 25.23 | 5.04 | 0.0 | 24.94 | 5.86 | 0.0 | 5.44 | 59.06 | 0.0 | 2.19 | 55.32 | 0.0 | 0.09 | 50.0 | 0.0 | 25.24 | 4.99 | 0.0 | 144.02 | -5.95 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0.0 | 1.80 | 0 | 0.0 |
| 20Q2 (3) | 0.68 | 240.0 | 0.0 | 31.53 | 8.13 | 0.0 | 24.01 | 62.56 | 0.0 | 24.02 | 62.41 | 0.0 | 23.56 | 63.27 | 0.0 | 3.42 | 245.45 | 0.0 | 1.41 | 220.45 | 0.0 | 0.06 | 100.0 | 0.0 | 24.04 | 61.34 | 0.0 | 153.13 | 16.18 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.20 | -76.47 | 0.0 | 29.16 | 2.24 | 0.0 | 14.77 | -27.85 | 0.0 | 14.79 | -27.85 | 0.0 | 14.43 | -25.27 | 0.0 | 0.99 | -77.19 | 0.0 | 0.44 | -77.44 | 0.0 | 0.03 | -70.0 | 0.0 | 14.90 | -27.25 | 0.0 | 131.80 | 8.25 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0.0 | 5.84 | 291.95 | 0.0 |
| 19Q4 (1) | 0.85 | 0.0 | 0.0 | 28.52 | 0.0 | 0.0 | 20.47 | 0.0 | 0.0 | 20.50 | 0.0 | 0.0 | 19.31 | 0.0 | 0.0 | 4.34 | 0.0 | 0.0 | 1.95 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 20.48 | 0.0 | 0.0 | 121.75 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 1.49 | 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) | 12.55 | 78.01 | 46.57 | -9.26 | 41.45 | -9.2 | 0.01 | -49.76 | 41.42 | -9.29 | 33.17 | -10.57 | 42.22 | 62.32 | 15.97 | 61.64 | 0.48 | 77.78 | 41.49 | -9.23 | 136.28 | -31.83 | 100.09 | 0.09 | -0.09 | 0 | 0.00 | 0 | 1.06 | -38.73 |
| 2022 (9) | 7.05 | -20.79 | 51.32 | 19.79 | 45.65 | 22.62 | 0.02 | 46.07 | 45.66 | 22.61 | 37.09 | 15.73 | 26.01 | -27.51 | 9.88 | -36.59 | 0.27 | -44.9 | 45.71 | 22.71 | 199.91 | 56.03 | 100.00 | 0.0 | 0.00 | 0 | 0.00 | 0 | 1.73 | 40.65 |
| 2021 (8) | 8.90 | 139.89 | 42.84 | 23.49 | 37.23 | 36.52 | 0.02 | -48.88 | 37.24 | 36.51 | 32.05 | 22.42 | 35.88 | 103.52 | 15.58 | 101.29 | 0.49 | 63.33 | 37.25 | 36.55 | 128.12 | -3.77 | 100.00 | 0.12 | 0.00 | 0 | 0.00 | 0 | 1.23 | -44.34 |
| 2020 (7) | 3.71 | 85.5 | 34.69 | 24.2 | 27.27 | 41.0 | 0.03 | 0 | 27.28 | 40.84 | 26.18 | 40.6 | 17.63 | 80.82 | 7.74 | 57.96 | 0.30 | 15.38 | 27.28 | 40.84 | 133.14 | 9.36 | 99.88 | 0.1 | 0.00 | 0 | 0.00 | 0 | 2.21 | -9.43 |
| 2019 (6) | 2.00 | -37.11 | 27.93 | -5.45 | 19.34 | -13.78 | 0.00 | 0 | 19.37 | -13.68 | 18.62 | -14.15 | 9.75 | -36.36 | 4.90 | -46.21 | 0.26 | -38.1 | 19.37 | -13.68 | 121.75 | 57.52 | 99.78 | -0.22 | 0.22 | 0 | 0.00 | 0 | 2.44 | 28.42 |
| 2018 (5) | 3.18 | 4.95 | 29.54 | -0.2 | 22.43 | 1.04 | 0.00 | 0 | 22.44 | 0.81 | 21.69 | -0.91 | 15.32 | 0.59 | 9.11 | -8.53 | 0.42 | -6.67 | 22.44 | 0.4 | 77.29 | 31.69 | 100.00 | 0.3 | 0.00 | 0 | 0.00 | 0 | 1.90 | -6.86 |
| 2017 (4) | 3.03 | 50.75 | 29.60 | -2.47 | 22.20 | 1.28 | 0.00 | 0 | 22.26 | 1.23 | 21.89 | 1.53 | 15.23 | 47.86 | 9.96 | 39.3 | 0.45 | 36.36 | 22.35 | 1.59 | 58.69 | 25.54 | 99.70 | 0.15 | 0.30 | 32.84 | 0.00 | 0 | 2.04 | -24.44 |
| 2016 (3) | 2.01 | -23.57 | 30.35 | -17.5 | 21.92 | -24.93 | 0.00 | 0 | 21.99 | -24.77 | 21.56 | -24.64 | 10.30 | -18.12 | 7.15 | -25.29 | 0.33 | 0.0 | 22.00 | -24.76 | 46.75 | 12.95 | 99.55 | -0.28 | 0.22 | 31.24 | 0.00 | 0 | 2.70 | -5.92 |
| 2015 (2) | 2.63 | -70.78 | 36.79 | -22.48 | 29.20 | -28.36 | 0.00 | 0 | 29.23 | -28.39 | 28.61 | -29.72 | 12.58 | -62.17 | 9.57 | -65.02 | 0.33 | -50.75 | 29.24 | -28.39 | 41.39 | 84.2 | 99.83 | 0.01 | 0.17 | 40.07 | 0.00 | 0 | 2.87 | 71.86 |
| 2014 (1) | 9.00 | -19.64 | 47.46 | 0 | 40.76 | 0 | 0.00 | 0 | 40.82 | 0 | 40.71 | 0 | 33.25 | 0 | 27.36 | 0 | 0.67 | -16.25 | 40.83 | -7.71 | 22.47 | 9.18 | 99.82 | 0.01 | 0.12 | -17.03 | 0.00 | 0 | 1.67 | -1.76 |
