- 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) | 3.08 | 109.52 | 64.71 | 20.78 | 43.51 | 68.94 | 15.73 | 70.24 | 74.58 | 16.92 | 64.27 | 60.38 | 13.64 | 92.38 | 64.34 | 5.87 | 118.22 | 58.22 | 2.77 | 113.08 | 58.29 | 0.20 | 11.11 | -4.76 | 17.91 | 59.06 | 54.53 | 107.32 | -11.72 | -5.98 | 92.91 | 3.78 | 8.6 | 7.09 | -29.39 | -50.91 | 8.39 | 2.44 | 38.91 |
| 24Q2 (19) | 1.47 | 11.36 | -53.48 | 14.48 | 18.3 | -26.39 | 9.24 | 21.74 | -43.56 | 10.30 | 20.33 | -40.19 | 7.09 | 4.11 | -46.69 | 2.69 | 14.96 | -58.55 | 1.30 | 16.07 | -57.93 | 0.18 | 12.5 | -21.74 | 11.26 | 14.9 | -37.93 | 121.57 | 23.12 | 6.45 | 89.52 | 0.42 | -5.94 | 10.04 | -12.12 | 108.18 | 8.19 | -4.1 | 36.05 |
| 24Q1 (18) | 1.32 | -24.57 | -60.6 | 12.24 | -7.06 | -44.26 | 7.59 | -4.53 | -57.65 | 8.56 | 13.53 | -58.39 | 6.81 | 10.02 | -58.85 | 2.34 | -28.0 | -67.68 | 1.12 | -24.83 | -64.33 | 0.16 | -33.33 | -15.79 | 9.80 | 16.81 | -54.76 | 98.74 | -23.14 | -9.34 | 89.14 | -15.65 | 2.25 | 11.43 | 318.1 | -10.86 | 8.54 | -9.82 | 15.09 |
| 23Q4 (17) | 1.75 | -6.42 | -5.41 | 13.17 | 7.07 | -28.19 | 7.95 | -11.76 | -24.21 | 7.54 | -28.53 | -30.25 | 6.19 | -25.42 | -26.66 | 3.25 | -12.4 | -24.42 | 1.49 | -14.86 | -13.37 | 0.24 | 14.29 | 20.0 | 8.39 | -27.61 | -29.08 | 128.47 | 12.54 | -18.7 | 105.68 | 23.52 | 8.89 | -5.24 | -136.27 | -277.51 | 9.47 | 56.79 | -2.77 |
| 23Q3 (16) | 1.87 | -40.82 | 92.78 | 12.30 | -37.47 | 0.16 | 9.01 | -44.96 | 4.16 | 10.55 | -38.73 | 22.39 | 8.30 | -37.59 | 50.64 | 3.71 | -42.84 | 57.87 | 1.75 | -43.37 | 80.41 | 0.21 | -8.7 | 23.53 | 11.59 | -36.11 | 18.39 | 114.15 | -0.04 | -22.97 | 85.55 | -10.11 | -14.94 | 14.45 | 199.48 | 0 | 6.04 | 0.33 | -14.69 |
| 23Q2 (15) | 3.16 | -5.67 | 305.13 | 19.67 | -10.43 | 82.13 | 16.37 | -8.65 | 116.82 | 17.22 | -16.29 | 166.15 | 13.30 | -19.64 | 204.35 | 6.49 | -10.36 | 248.92 | 3.09 | -1.59 | 296.15 | 0.23 | 21.05 | 35.29 | 18.14 | -16.25 | 138.68 | 114.20 | 4.86 | -24.36 | 95.18 | 9.17 | -18.51 | 4.82 | -62.37 | 128.73 | 6.02 | -18.87 | -5.94 |
| 23Q1 (14) | 3.35 | 81.08 | 183.9 | 21.96 | 19.74 | 86.1 | 17.92 | 70.83 | 118.27 | 20.57 | 90.29 | 149.94 | 16.55 | 96.09 | 141.96 | 7.24 | 68.37 | 160.43 | 3.14 | 82.56 | 177.88 | 0.19 | -5.0 | 18.75 | 21.66 | 83.09 | 131.16 | 108.91 | -31.08 | -22.0 | 87.18 | -10.17 | -12.82 | 12.82 | 334.29 | 0 | 7.42 | -23.82 | 18.72 |
| 22Q4 (13) | 1.85 | 90.72 | 14.2 | 18.34 | 49.35 | 26.92 | 10.49 | 21.27 | 16.82 | 10.81 | 25.41 | 5.16 | 8.44 | 53.18 | -1.06 | 4.30 | 82.98 | 11.11 | 1.72 | 77.32 | 10.97 | 0.20 | 17.65 | 11.11 | 11.83 | 20.84 | 4.97 | 158.02 | 6.63 | -3.72 | 97.05 | -3.51 | 11.06 | 2.95 | 0 | -76.6 | 9.74 | 37.57 | 2.1 |
| 22Q3 (12) | 0.97 | 24.36 | -31.69 | 12.28 | 13.7 | -37.28 | 8.65 | 14.57 | -40.26 | 8.62 | 33.23 | -38.91 | 5.51 | 26.09 | -50.45 | 2.35 | 26.34 | -35.26 | 0.97 | 24.36 | -37.42 | 0.17 | 0.0 | 21.43 | 9.79 | 28.82 | -36.14 | 148.19 | -1.84 | 4.31 | 100.57 | -13.89 | -1.83 | 0.00 | 100.0 | 100.0 | 7.08 | 10.62 | -16.41 |
| 22Q2 (11) | 0.78 | -33.9 | 30.0 | 10.80 | -8.47 | 13.56 | 7.55 | -8.04 | 46.6 | 6.47 | -21.39 | 3.35 | 4.37 | -36.11 | 3.31 | 1.86 | -33.09 | 28.28 | 0.78 | -30.97 | 18.18 | 0.17 | 6.25 | 13.33 | 7.60 | -18.89 | 0.4 | 150.97 | 8.13 | 16.29 | 116.79 | 16.79 | 42.25 | -16.79 | 0 | -193.85 | 6.40 | 2.4 | -11.72 |
| 22Q1 (10) | 1.18 | -27.16 | 126.92 | 11.80 | -18.34 | 14.34 | 8.21 | -8.57 | 81.24 | 8.23 | -19.94 | 31.05 | 6.84 | -19.81 | 36.25 | 2.78 | -28.17 | 124.19 | 1.13 | -27.1 | 94.83 | 0.16 | -11.11 | 45.45 | 9.37 | -16.86 | 16.69 | 139.62 | -14.93 | 11.7 | 100.00 | 14.44 | 40.0 | 0.00 | -100.0 | -100.0 | 6.25 | -34.49 | -35.96 |
| 21Q4 (9) | 1.62 | 14.08 | -5.26 | 14.45 | -26.2 | -28.11 | 8.98 | -37.98 | -31.24 | 10.28 | -27.14 | -28.11 | 8.53 | -23.29 | -25.31 | 3.87 | 6.61 | -10.83 | 1.55 | 0.0 | -22.89 | 0.18 | 28.57 | 5.88 | 11.27 | -26.48 | -25.41 | 164.13 | 15.53 | 32.23 | 87.38 | -14.71 | -4.53 | 12.62 | 614.77 | 48.88 | 9.54 | 12.63 | -21.29 |
| 21Q3 (8) | 1.42 | 136.67 | 73.17 | 19.58 | 105.89 | 55.4 | 14.48 | 181.17 | 92.55 | 14.11 | 125.4 | 53.04 | 11.12 | 162.88 | 49.26 | 3.63 | 150.34 | 69.63 | 1.55 | 134.85 | 49.04 | 0.14 | -6.67 | 0.0 | 15.33 | 102.51 | 49.71 | 142.07 | 9.44 | 27.5 | 102.45 | 24.78 | 26.09 | -2.45 | -113.7 | -113.07 | 8.47 | 16.83 | -1.51 |
| 21Q2 (7) | 0.60 | 15.38 | -42.86 | 9.51 | -7.85 | -1.35 | 5.15 | 13.69 | 0.59 | 6.26 | -0.32 | -46.22 | 4.23 | -15.74 | -50.41 | 1.45 | 16.94 | -47.84 | 0.66 | 13.79 | -52.52 | 0.15 | 36.36 | -6.25 | 7.57 | -5.73 | -39.29 | 129.82 | 3.86 | 24.66 | 82.11 | 14.95 | 87.67 | 17.89 | -34.07 | -67.83 | 7.25 | -25.72 | 0 |
| 21Q1 (6) | 0.52 | -69.59 | -16.13 | 10.32 | -48.66 | -10.34 | 4.53 | -65.31 | -34.91 | 6.28 | -56.08 | -9.77 | 5.02 | -56.04 | -16.19 | 1.24 | -71.43 | -24.39 | 0.58 | -71.14 | -30.12 | 0.11 | -35.29 | -21.43 | 8.03 | -46.86 | 0.88 | 125.00 | 0.71 | 27.79 | 71.43 | -21.96 | -28.57 | 27.14 | 220.29 | 0 | 9.76 | -19.47 | 0 |
| 20Q4 (5) | 1.71 | 108.54 | 61.32 | 20.10 | 59.52 | 20.58 | 13.06 | 73.67 | 56.22 | 14.30 | 55.1 | 44.15 | 11.42 | 53.29 | 47.74 | 4.34 | 102.8 | 56.12 | 2.01 | 93.27 | 38.62 | 0.17 | 21.43 | -10.53 | 15.11 | 47.56 | 42.14 | 124.12 | 11.39 | 22.48 | 91.53 | 12.65 | 8.5 | 8.47 | -54.8 | -45.84 | 12.12 | 40.93 | 0 |
| 20Q3 (4) | 0.82 | -21.9 | 0.0 | 12.60 | 30.71 | 0.0 | 7.52 | 46.87 | 0.0 | 9.22 | -20.79 | 0.0 | 7.45 | -12.66 | 0.0 | 2.14 | -23.02 | 0.0 | 1.04 | -25.18 | 0.0 | 0.14 | -12.5 | 0.0 | 10.24 | -17.88 | 0.0 | 111.43 | 7.0 | 0.0 | 81.25 | 85.71 | 0.0 | 18.75 | -66.29 | 0.0 | 8.60 | 0 | 0.0 |
| 20Q2 (3) | 1.05 | 69.35 | 0.0 | 9.64 | -16.25 | 0.0 | 5.12 | -26.44 | 0.0 | 11.64 | 67.24 | 0.0 | 8.53 | 42.4 | 0.0 | 2.78 | 69.51 | 0.0 | 1.39 | 67.47 | 0.0 | 0.16 | 14.29 | 0.0 | 12.47 | 56.66 | 0.0 | 104.14 | 6.46 | 0.0 | 43.75 | -56.25 | 0.0 | 55.62 | 0 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 0.62 | -41.51 | 0.0 | 11.51 | -30.95 | 0.0 | 6.96 | -16.75 | 0.0 | 6.96 | -29.84 | 0.0 | 5.99 | -22.51 | 0.0 | 1.64 | -41.01 | 0.0 | 0.83 | -42.76 | 0.0 | 0.14 | -26.32 | 0.0 | 7.96 | -25.12 | 0.0 | 97.82 | -3.47 | 0.0 | 100.00 | 18.55 | 0.0 | -0.00 | -100.0 | 0.0 | 0.00 | 0 | 0.0 |
| 19Q4 (1) | 1.06 | 0.0 | 0.0 | 16.67 | 0.0 | 0.0 | 8.36 | 0.0 | 0.0 | 9.92 | 0.0 | 0.0 | 7.73 | 0.0 | 0.0 | 2.78 | 0.0 | 0.0 | 1.45 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 10.63 | 0.0 | 0.0 | 101.34 | 0.0 | 0.0 | 84.35 | 0.0 | 0.0 | 15.65 | 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) | 10.14 | 112.13 | 16.52 | 21.47 | 12.50 | 41.56 | 0.81 | -9.29 | 13.55 | 56.29 | 10.75 | 67.71 | 20.66 | 84.3 | 8.63 | 96.58 | 0.79 | 17.91 | 14.51 | 48.67 | 128.47 | -18.7 | 92.31 | -9.42 | 7.69 | 0 | 0.10 | 4.54 | 7.33 | -2.4 |
| 2022 (9) | 4.78 | 15.18 | 13.60 | -0.66 | 8.83 | 3.64 | 0.90 | -9.58 | 8.67 | -8.45 | 6.41 | -13.84 | 11.21 | 11.76 | 4.39 | 5.02 | 0.67 | 21.82 | 9.76 | -8.79 | 158.02 | -3.72 | 101.90 | 13.16 | -1.90 | 0 | 0.09 | -18.1 | 7.51 | -14.27 |
| 2021 (8) | 4.15 | -1.19 | 13.69 | -1.58 | 8.52 | 0.35 | 0.99 | 40.61 | 9.47 | -13.2 | 7.44 | -13.79 | 10.03 | -6.7 | 4.18 | -17.88 | 0.55 | -5.17 | 10.70 | -9.25 | 164.13 | 32.23 | 90.05 | 15.61 | 9.95 | -55.0 | 0.11 | -33.47 | 8.76 | -5.71 |
| 2020 (7) | 4.20 | -11.39 | 13.91 | -13.44 | 8.49 | -18.29 | 0.70 | 55.58 | 10.91 | -10.72 | 8.63 | -8.77 | 10.75 | -16.47 | 5.09 | -15.31 | 0.58 | -7.94 | 11.79 | -7.96 | 124.12 | 22.48 | 77.89 | -8.54 | 22.11 | 47.54 | 0.17 | 10.67 | 9.29 | 11.52 |
| 2019 (6) | 4.74 | 4.18 | 16.07 | -4.57 | 10.39 | -3.89 | 0.45 | 248.73 | 12.22 | 0.33 | 9.46 | -0.21 | 12.87 | -8.01 | 6.01 | 0.67 | 0.63 | 1.61 | 12.81 | 2.32 | 101.34 | -23.1 | 85.16 | -4.01 | 14.99 | 32.84 | 0.15 | 178.73 | 8.33 | 26.4 |
| 2018 (5) | 4.55 | 92.8 | 16.84 | 85.05 | 10.81 | 161.74 | 0.13 | -25.53 | 12.18 | 35.33 | 9.48 | 30.04 | 13.99 | 62.3 | 5.97 | 48.88 | 0.62 | 14.81 | 12.52 | 34.33 | 131.79 | -9.58 | 88.72 | 92.94 | 11.28 | -79.12 | 0.06 | 0 | 6.59 | -8.09 |
| 2017 (4) | 2.36 | -10.94 | 9.10 | -21.08 | 4.13 | -47.12 | 0.17 | 16.03 | 9.00 | 1.24 | 7.29 | 2.39 | 8.62 | -24.19 | 4.01 | -31.69 | 0.54 | -34.15 | 9.32 | 2.08 | 145.76 | 61.7 | 45.98 | -47.59 | 54.02 | 340.51 | 0.00 | 0 | 7.17 | 21.53 |
| 2016 (3) | 2.65 | 43.24 | 11.53 | -1.37 | 7.81 | 4.13 | 0.15 | -26.43 | 8.89 | -2.41 | 7.12 | -0.56 | 11.37 | 35.36 | 5.87 | 34.32 | 0.82 | 34.43 | 9.13 | -3.08 | 90.14 | -9.69 | 87.74 | 6.54 | 12.26 | -30.51 | 0.00 | 0 | 5.90 | -12.72 |
| 2015 (2) | 1.85 | -52.32 | 11.69 | -29.79 | 7.50 | -41.63 | 0.20 | 31.18 | 9.11 | -35.85 | 7.16 | -37.41 | 8.40 | -53.26 | 4.37 | -46.31 | 0.61 | -14.08 | 9.42 | -34.67 | 99.81 | 16.06 | 82.35 | -8.91 | 17.65 | 86.7 | 0.00 | 0 | 6.76 | 8.16 |
| 2014 (1) | 3.88 | -10.19 | 16.65 | 0 | 12.85 | 0 | 0.16 | 18.05 | 14.20 | 0 | 11.44 | 0 | 17.97 | 0 | 8.14 | 0 | 0.71 | 2.9 | 14.42 | -2.5 | 86.00 | -45.64 | 90.41 | 5.78 | 9.45 | -34.93 | 0.00 | 0 | 6.25 | 15.31 |
