- 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) | 1.44 | -31.75 | -21.31 | 12.68 | -8.25 | -27.29 | 3.15 | -28.57 | -38.48 | 2.99 | -40.56 | -51.77 | 2.68 | -38.95 | -47.04 | 3.53 | -30.24 | -22.25 | 2.43 | -26.81 | -12.59 | 0.89 | 18.67 | 64.81 | 3.88 | -36.29 | -48.81 | 48.95 | 7.68 | 4.22 | 105.08 | 19.59 | 27.52 | -5.08 | -141.92 | -128.9 | 8.44 | -1.97 | -36.11 |
| 24Q2 (19) | 2.11 | 33.54 | -0.47 | 13.82 | -10.55 | -22.84 | 4.41 | 16.67 | -30.0 | 5.03 | 2.65 | -31.38 | 4.39 | 6.55 | -22.98 | 5.06 | 25.25 | -12.0 | 3.32 | 26.72 | 10.67 | 0.75 | 19.05 | 44.23 | 6.09 | -2.25 | -30.24 | 45.46 | -27.16 | -47.64 | 87.87 | 13.86 | 2.25 | 12.13 | -46.86 | -13.74 | 8.61 | -16.16 | -21.08 |
| 24Q1 (18) | 1.58 | 12.86 | -21.0 | 15.45 | -7.26 | -9.12 | 3.78 | 10.53 | -25.15 | 4.90 | 26.29 | -14.63 | 4.12 | 31.21 | -14.17 | 4.04 | 25.86 | -14.77 | 2.62 | 19.09 | 1.16 | 0.63 | -8.7 | 18.87 | 6.23 | 21.21 | -12.62 | 62.41 | 25.98 | -39.47 | 77.17 | -12.58 | -12.08 | 22.83 | 88.12 | 91.86 | 10.27 | 20.12 | 0.79 |
| 23Q4 (17) | 1.40 | -23.5 | -46.77 | 16.66 | -4.47 | -3.42 | 3.42 | -33.2 | -30.49 | 3.88 | -37.42 | -1.77 | 3.14 | -37.94 | -27.15 | 3.21 | -29.3 | -41.64 | 2.20 | -20.86 | -31.03 | 0.69 | 27.78 | -5.48 | 5.14 | -32.19 | 5.98 | 49.54 | 5.47 | -31.01 | 88.28 | 7.13 | -29.28 | 12.13 | -31.03 | 149.49 | 8.55 | -35.28 | -22.83 |
| 23Q3 (16) | 1.83 | -13.68 | -55.37 | 17.44 | -2.62 | 31.52 | 5.12 | -18.73 | 19.91 | 6.20 | -15.42 | 5.26 | 5.06 | -11.23 | -3.44 | 4.54 | -21.04 | -52.46 | 2.78 | -7.33 | -42.56 | 0.54 | 3.85 | -41.3 | 7.58 | -13.17 | 14.67 | 46.97 | -45.9 | -38.12 | 82.41 | -4.11 | 13.47 | 17.59 | 25.1 | -35.74 | 13.21 | 21.08 | 35.91 |
| 23Q2 (15) | 2.12 | 6.0 | -71.31 | 17.91 | 5.35 | 26.48 | 6.30 | 24.75 | -26.32 | 7.33 | 27.7 | -24.9 | 5.70 | 18.75 | -35.23 | 5.75 | 21.31 | -74.31 | 3.00 | 15.83 | -67.28 | 0.52 | -1.89 | -50.0 | 8.73 | 22.44 | -14.91 | 86.82 | -15.79 | -31.12 | 85.94 | -2.1 | -1.89 | 14.06 | 18.2 | 13.3 | 10.91 | 7.07 | 100.55 |
| 23Q1 (14) | 2.00 | -23.95 | -55.95 | 17.00 | -1.45 | 23.1 | 5.05 | 2.64 | -24.06 | 5.74 | 45.32 | -17.05 | 4.80 | 11.37 | -14.89 | 4.74 | -13.82 | -69.12 | 2.59 | -18.81 | -59.21 | 0.53 | -27.4 | -52.68 | 7.13 | 47.01 | -4.81 | 103.10 | 43.57 | -39.13 | 87.78 | -29.68 | -8.74 | 11.90 | 148.53 | 202.03 | 10.19 | -8.03 | 94.47 |
| 22Q4 (13) | 2.63 | -35.85 | -59.03 | 17.25 | 30.09 | 0.41 | 4.92 | 15.22 | -37.32 | 3.95 | -32.94 | -49.03 | 4.31 | -17.75 | -34.7 | 5.50 | -42.41 | -75.12 | 3.19 | -34.09 | -67.75 | 0.73 | -20.65 | -51.33 | 4.85 | -26.63 | -40.34 | 71.81 | -5.4 | -40.04 | 124.84 | 71.9 | 23.18 | -24.52 | -189.55 | -1859.4 | 11.08 | 13.99 | 81.34 |
| 22Q3 (12) | 4.10 | -44.52 | -3.07 | 13.26 | -6.36 | -3.0 | 4.27 | -50.06 | -35.11 | 5.89 | -39.65 | -14.26 | 5.24 | -40.45 | -12.37 | 9.55 | -57.33 | -47.32 | 4.84 | -47.22 | -35.72 | 0.92 | -11.54 | -26.4 | 6.61 | -35.58 | -11.87 | 75.91 | -39.77 | -41.18 | 72.62 | -17.09 | -24.18 | 27.38 | 120.58 | 527.85 | 9.72 | 78.68 | 44.86 |
| 22Q2 (11) | 7.39 | 62.78 | 66.07 | 14.16 | 2.53 | 1.87 | 8.55 | 28.57 | 18.42 | 9.76 | 41.04 | 33.52 | 8.80 | 56.03 | 33.13 | 22.38 | 45.8 | 23.78 | 9.17 | 44.41 | 19.25 | 1.04 | -7.14 | -10.34 | 10.26 | 36.98 | 27.77 | 126.04 | -25.58 | -20.18 | 87.59 | -8.94 | -11.42 | 12.41 | 215.09 | 872.74 | 5.44 | 3.82 | -12.12 |
| 22Q1 (10) | 4.54 | -29.28 | 90.76 | 13.81 | -19.62 | 0.73 | 6.65 | -15.29 | 29.13 | 6.92 | -10.71 | 30.32 | 5.64 | -14.55 | 28.47 | 15.35 | -30.57 | 53.19 | 6.35 | -35.79 | 40.18 | 1.12 | -25.33 | 9.8 | 7.49 | -7.87 | 19.46 | 169.37 | 41.41 | 45.49 | 96.19 | -5.09 | -0.87 | 3.94 | 414.82 | 32.85 | 5.24 | -14.24 | -15.21 |
| 21Q4 (9) | 6.42 | 51.77 | 230.93 | 17.18 | 25.68 | 13.7 | 7.85 | 19.3 | 123.01 | 7.75 | 12.81 | 124.64 | 6.60 | 10.37 | 65.41 | 22.11 | 21.95 | 153.26 | 9.89 | 31.34 | 151.65 | 1.50 | 20.0 | 54.64 | 8.13 | 8.4 | 82.7 | 119.77 | -7.2 | -9.61 | 101.35 | 5.81 | -0.52 | -1.25 | -128.69 | 33.37 | 6.11 | -8.94 | -11.71 |
| 21Q3 (8) | 4.23 | -4.94 | 95.83 | 13.67 | -1.65 | -15.25 | 6.58 | -8.86 | 21.18 | 6.87 | -6.02 | 26.29 | 5.98 | -9.53 | 22.79 | 18.13 | 0.28 | 75.68 | 7.53 | -2.08 | 67.33 | 1.25 | 7.76 | 37.36 | 7.50 | -6.6 | 15.38 | 129.06 | -18.27 | 7.51 | 95.78 | -3.13 | -4.22 | 4.36 | 241.75 | 0 | 6.71 | 8.4 | -12.52 |
| 21Q2 (7) | 4.45 | 86.97 | 18.98 | 13.90 | 1.39 | -21.16 | 7.22 | 40.19 | -14.25 | 7.31 | 37.66 | -14.6 | 6.61 | 50.57 | -3.5 | 18.08 | 80.44 | -9.24 | 7.69 | 69.76 | -10.79 | 1.16 | 13.73 | -7.2 | 8.03 | 28.07 | -14.57 | 157.91 | 35.65 | 8.34 | 98.88 | 1.91 | 0.38 | 1.28 | -56.97 | -23.19 | 6.19 | 0.16 | 0 |
| 21Q1 (6) | 2.38 | 22.68 | 209.09 | 13.71 | -9.27 | -14.04 | 5.15 | 46.31 | 101.17 | 5.31 | 53.91 | 74.67 | 4.39 | 10.03 | 81.4 | 10.02 | 14.78 | 126.19 | 4.53 | 15.27 | 126.5 | 1.02 | 5.15 | 25.93 | 6.27 | 40.9 | 36.9 | 116.41 | -12.15 | -2.41 | 97.04 | -4.75 | 15.34 | 2.96 | 257.88 | -81.32 | 6.18 | -10.69 | -31.1 |
| 20Q4 (5) | 1.94 | -10.19 | 162.16 | 15.11 | -6.32 | -7.87 | 3.52 | -35.17 | 38.58 | 3.45 | -36.58 | 58.26 | 3.99 | -18.07 | 118.03 | 8.73 | -15.41 | 119.9 | 3.93 | -12.67 | 109.04 | 0.97 | 6.59 | 1.04 | 4.45 | -31.54 | 24.65 | 132.51 | 10.38 | -1.07 | 101.88 | 1.88 | -12.2 | -1.88 | 0 | 88.29 | 6.92 | -9.78 | -27.69 |
| 20Q3 (4) | 2.16 | -42.25 | 0.0 | 16.13 | -8.51 | 0.0 | 5.43 | -35.51 | 0.0 | 5.44 | -36.45 | 0.0 | 4.87 | -28.91 | 0.0 | 10.32 | -48.19 | 0.0 | 4.50 | -47.8 | 0.0 | 0.91 | -27.2 | 0.0 | 6.50 | -30.85 | 0.0 | 120.05 | -17.63 | 0.0 | 100.00 | 1.52 | 0.0 | 0.00 | -100.0 | 0.0 | 7.67 | 0 | 0.0 |
| 20Q2 (3) | 3.74 | 385.71 | 0.0 | 17.63 | 10.53 | 0.0 | 8.42 | 228.91 | 0.0 | 8.56 | 181.58 | 0.0 | 6.85 | 183.06 | 0.0 | 19.92 | 349.66 | 0.0 | 8.62 | 331.0 | 0.0 | 1.25 | 54.32 | 0.0 | 9.40 | 105.24 | 0.0 | 145.75 | 22.19 | 0.0 | 98.50 | 17.09 | 0.0 | 1.66 | -89.53 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.77 | 4.05 | 0.0 | 15.95 | -2.74 | 0.0 | 2.56 | 0.79 | 0.0 | 3.04 | 39.45 | 0.0 | 2.42 | 32.24 | 0.0 | 4.43 | 11.59 | 0.0 | 2.00 | 6.38 | 0.0 | 0.81 | -15.62 | 0.0 | 4.58 | 28.29 | 0.0 | 119.28 | -10.95 | 0.0 | 84.13 | -27.5 | 0.0 | 15.87 | 198.97 | 0.0 | 8.97 | -6.27 | 0.0 |
| 19Q4 (1) | 0.74 | 0.0 | 0.0 | 16.40 | 0.0 | 0.0 | 2.54 | 0.0 | 0.0 | 2.18 | 0.0 | 0.0 | 1.83 | 0.0 | 0.0 | 3.97 | 0.0 | 0.0 | 1.88 | 0.0 | 0.0 | 0.96 | 0.0 | 0.0 | 3.57 | 0.0 | 0.0 | 133.94 | 0.0 | 0.0 | 116.04 | 0.0 | 0.0 | -16.04 | 0.0 | 0.0 | 9.57 | 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) | 7.24 | -61.3 | 17.23 | 19.4 | 4.91 | -21.44 | 1.26 | 106.97 | 5.71 | -17.13 | 4.61 | -25.28 | 16.85 | -64.98 | 10.62 | -57.86 | 2.27 | -44.09 | 7.06 | -6.37 | 49.54 | -31.01 | 85.93 | -5.36 | 13.99 | 52.02 | 0.79 | 12.07 | 10.62 | 40.85 |
| 2022 (9) | 18.71 | 10.19 | 14.43 | -3.35 | 6.25 | -9.42 | 0.61 | 4.28 | 6.89 | -1.43 | 6.17 | 1.98 | 48.11 | -25.38 | 25.20 | -12.59 | 4.06 | -14.35 | 7.54 | -1.05 | 71.81 | -40.04 | 90.80 | -8.02 | 9.20 | 616.79 | 0.70 | 107.71 | 7.54 | 19.87 |
| 2021 (8) | 16.98 | 96.98 | 14.93 | -8.29 | 6.90 | 29.7 | 0.58 | -40.61 | 6.99 | 28.73 | 6.05 | 26.04 | 64.47 | 49.44 | 28.83 | 53.76 | 4.74 | 22.8 | 7.62 | 17.41 | 119.77 | -9.61 | 98.72 | 0.82 | 1.28 | -38.47 | 0.34 | -31.32 | 6.29 | -18.84 |
| 2020 (7) | 8.62 | 169.37 | 16.28 | -2.05 | 5.32 | 87.99 | 0.98 | -27.27 | 5.43 | 96.03 | 4.80 | 110.53 | 43.14 | 129.83 | 18.75 | 117.52 | 3.86 | 6.04 | 6.49 | 53.07 | 132.51 | -1.07 | 97.91 | -4.22 | 2.09 | 0 | 0.49 | -24.47 | 7.75 | -19.19 |
| 2019 (6) | 3.20 | 53.11 | 16.62 | 21.94 | 2.83 | 82.58 | 1.35 | 492.0 | 2.77 | 62.94 | 2.28 | 56.16 | 18.77 | 39.24 | 8.62 | 37.7 | 3.64 | -13.33 | 4.24 | 115.23 | 133.94 | 12.32 | 102.23 | 12.63 | -2.03 | 0 | 0.65 | 10.77 | 9.59 | 6.91 |
| 2018 (5) | 2.09 | 25.15 | 13.63 | -2.36 | 1.55 | -3.13 | 0.23 | -4.94 | 1.70 | 9.68 | 1.46 | 16.8 | 13.48 | 25.28 | 6.26 | 17.45 | 4.20 | 1.2 | 1.97 | 7.65 | 119.25 | -1.81 | 90.76 | -12.47 | 9.24 | 0 | 0.59 | 0 | 8.97 | 1.7 |
| 2017 (4) | 1.67 | -24.09 | 13.96 | -10.57 | 1.60 | -19.19 | 0.24 | -25.56 | 1.55 | -27.23 | 1.25 | -29.38 | 10.76 | -20.06 | 5.33 | -24.61 | 4.15 | 6.41 | 1.83 | -27.09 | 121.45 | 27.08 | 103.69 | 11.79 | -3.69 | 0 | 0.00 | 0 | 8.82 | -11.0 |
| 2016 (3) | 2.20 | 103.7 | 15.61 | 3.51 | 1.98 | 96.04 | 0.32 | 2.12 | 2.13 | 65.12 | 1.77 | 86.32 | 13.46 | 91.47 | 7.07 | 85.08 | 3.90 | 3.17 | 2.51 | 49.4 | 95.57 | 0.27 | 92.75 | 18.75 | 6.96 | -68.22 | 0.00 | 0 | 9.91 | -5.89 |
| 2015 (2) | 1.08 | -34.94 | 15.08 | 8.1 | 1.01 | -41.28 | 0.32 | 30.53 | 1.29 | -23.67 | 0.95 | -33.1 | 7.03 | -40.12 | 3.82 | -40.03 | 3.78 | -13.1 | 1.68 | -16.0 | 95.31 | 0.62 | 78.11 | -22.96 | 21.89 | 0 | 0.00 | 0 | 10.53 | 18.58 |
| 2014 (1) | 1.66 | 62.75 | 13.95 | 0 | 1.72 | 0 | 0.24 | -22.24 | 1.69 | 0 | 1.42 | 0 | 11.74 | 0 | 6.37 | 0 | 4.35 | 8.48 | 2.00 | 12.99 | 94.72 | 11.06 | 101.39 | 14.71 | -1.39 | 0 | 0.00 | 0 | 8.88 | -10.84 |
