- 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) | 7.73 | 8.72 | -9.91 | 14.01 | 2.19 | 2.86 | 8.25 | 12.55 | 7.56 | 9.73 | -4.98 | -6.53 | 7.59 | -5.01 | -6.53 | 4.00 | 6.1 | -11.5 | 2.21 | 8.87 | -5.15 | 0.29 | 16.0 | 3.57 | 12.69 | -7.17 | -4.8 | 76.92 | -9.95 | -16.92 | 84.83 | 18.6 | 15.12 | 15.12 | -46.89 | -42.53 | 4.84 | -17.55 | -11.19 |
| 24Q2 (19) | 7.11 | 24.3 | -3.4 | 13.71 | 6.11 | 2.39 | 7.33 | 5.77 | -3.93 | 10.24 | 10.82 | 1.29 | 7.99 | 10.82 | 1.4 | 3.77 | 18.55 | -8.05 | 2.03 | 19.41 | -2.87 | 0.25 | 8.7 | -3.85 | 13.67 | 6.3 | 4.51 | 85.42 | -4.93 | -14.96 | 71.53 | -4.57 | -5.27 | 28.47 | 13.66 | 16.26 | 5.87 | 0.86 | -0.68 |
| 24Q1 (18) | 5.72 | -28.59 | -14.88 | 12.92 | -5.0 | -10.77 | 6.93 | -18.18 | -22.91 | 9.24 | 0.76 | -8.51 | 7.21 | 0.84 | -8.5 | 3.18 | -24.11 | -19.7 | 1.70 | -22.73 | -17.07 | 0.23 | -25.81 | -11.54 | 12.86 | 8.52 | -2.06 | 89.85 | -1.49 | -7.97 | 74.95 | -18.84 | -15.81 | 25.05 | 225.6 | 128.22 | 5.82 | 21.0 | -3.48 |
| 23Q4 (17) | 8.01 | -6.64 | -16.13 | 13.60 | -0.15 | -11.34 | 8.47 | 10.43 | -18.01 | 9.17 | -11.91 | -21.76 | 7.15 | -11.95 | -15.28 | 4.19 | -7.3 | -21.24 | 2.20 | -5.58 | -20.0 | 0.31 | 10.71 | -3.13 | 11.85 | -11.1 | -15.24 | 91.21 | -1.48 | -1.46 | 92.35 | 25.33 | 4.84 | 7.69 | -70.76 | -35.21 | 4.81 | -11.74 | -4.56 |
| 23Q3 (16) | 8.58 | 16.58 | -21.79 | 13.62 | 1.72 | -18.1 | 7.67 | 0.52 | -34.67 | 10.41 | 2.97 | -24.57 | 8.12 | 3.05 | -18.23 | 4.52 | 10.24 | -29.15 | 2.33 | 11.48 | -23.61 | 0.28 | 7.69 | -6.67 | 13.33 | 1.91 | -16.95 | 92.58 | -7.83 | -6.05 | 73.69 | -2.41 | -13.39 | 26.31 | 7.44 | 76.07 | 5.45 | -7.78 | -18.29 |
| 23Q2 (15) | 7.36 | 9.52 | -29.9 | 13.39 | -7.53 | -19.87 | 7.63 | -15.13 | -35.23 | 10.11 | 0.1 | -25.39 | 7.88 | 0.0 | -19.26 | 4.10 | 3.54 | -31.89 | 2.09 | 1.95 | -26.67 | 0.26 | 0.0 | -10.34 | 13.08 | -0.38 | -16.74 | 100.45 | 2.89 | -18.75 | 75.51 | -15.18 | -13.15 | 24.49 | 123.14 | 87.53 | 5.91 | -1.99 | -8.8 |
| 23Q1 (14) | 6.72 | -29.63 | -17.04 | 14.48 | -5.61 | -5.97 | 8.99 | -12.97 | -10.81 | 10.10 | -13.82 | -11.17 | 7.88 | -6.64 | -3.67 | 3.96 | -25.56 | -15.92 | 2.05 | -25.45 | -13.14 | 0.26 | -18.75 | -10.34 | 13.13 | -6.08 | -3.1 | 97.63 | 5.48 | -4.22 | 89.03 | 1.06 | 0.36 | 10.97 | -7.56 | -3.17 | 6.03 | 19.64 | -21.38 |
| 22Q4 (13) | 9.55 | -12.94 | 8.03 | 15.34 | -7.76 | 4.0 | 10.33 | -12.01 | 3.3 | 11.72 | -15.07 | 7.03 | 8.44 | -15.01 | 7.11 | 5.32 | -16.61 | 1.92 | 2.75 | -9.84 | 4.56 | 0.32 | 6.67 | -3.03 | 13.98 | -12.9 | 7.95 | 92.56 | -6.07 | -5.96 | 88.09 | 3.53 | -3.51 | 11.87 | -20.55 | 36.45 | 5.04 | -24.44 | -30.39 |
| 22Q3 (12) | 10.97 | 4.48 | 11.71 | 16.63 | -0.48 | 8.91 | 11.74 | -0.34 | 7.81 | 13.80 | 1.85 | 17.75 | 9.93 | 1.74 | 17.65 | 6.38 | 5.98 | 3.4 | 3.05 | 7.02 | 3.04 | 0.30 | 3.45 | -14.29 | 16.05 | 2.16 | 17.5 | 98.54 | -20.29 | -0.6 | 85.09 | -2.13 | -8.42 | 14.94 | 14.43 | 110.79 | 6.67 | 2.93 | 10.25 |
| 22Q2 (11) | 10.50 | 29.63 | 22.52 | 16.71 | 8.51 | 21.0 | 11.78 | 16.87 | 28.6 | 13.55 | 19.17 | 28.19 | 9.76 | 19.32 | 28.25 | 6.02 | 27.81 | 9.06 | 2.85 | 20.76 | 8.37 | 0.29 | 0.0 | -17.14 | 15.71 | 15.94 | 25.98 | 123.63 | 21.29 | 3.23 | 86.94 | -1.99 | 0.32 | 13.06 | 15.22 | -1.77 | 6.48 | -15.51 | -7.69 |
| 22Q1 (10) | 8.10 | -8.37 | 11.26 | 15.40 | 4.41 | 18.01 | 10.08 | 0.8 | 15.73 | 11.37 | 3.84 | 20.19 | 8.18 | 3.81 | 20.12 | 4.71 | -9.77 | -4.85 | 2.36 | -10.27 | 3.06 | 0.29 | -12.12 | -14.71 | 13.55 | 4.63 | 17.93 | 101.93 | 3.56 | 1.49 | 88.71 | -2.84 | -3.66 | 11.33 | 30.26 | 43.08 | 7.67 | 5.94 | -0.52 |
| 21Q4 (9) | 8.84 | -9.98 | -7.05 | 14.75 | -3.41 | 17.72 | 10.00 | -8.17 | 11.11 | 10.95 | -6.57 | 20.86 | 7.88 | -6.64 | 20.86 | 5.22 | -15.4 | -26.27 | 2.63 | -11.15 | -12.04 | 0.33 | -5.71 | -28.26 | 12.95 | -5.2 | 21.6 | 98.43 | -0.71 | -27.48 | 91.30 | -1.73 | -8.13 | 8.70 | 22.74 | 1308.95 | 7.24 | 19.67 | 15.47 |
| 21Q3 (8) | 9.82 | 14.59 | 25.9 | 15.27 | 10.57 | 17.37 | 10.89 | 18.89 | 20.73 | 11.72 | 10.88 | 25.48 | 8.44 | 10.91 | 25.6 | 6.17 | 11.78 | -3.59 | 2.96 | 12.55 | 12.12 | 0.35 | 0.0 | -10.26 | 13.66 | 9.54 | 23.29 | 99.13 | -17.23 | -28.27 | 92.91 | 7.21 | -3.84 | 7.09 | -46.68 | 109.61 | 6.05 | -13.82 | -15.38 |
| 21Q2 (7) | 8.57 | 17.72 | 34.12 | 13.81 | 5.82 | 33.43 | 9.16 | 5.17 | 42.24 | 10.57 | 11.73 | 25.83 | 7.61 | 11.75 | 25.79 | 5.52 | 11.52 | 10.18 | 2.63 | 14.85 | 15.35 | 0.35 | 2.94 | -5.41 | 12.47 | 8.53 | 22.74 | 119.76 | 19.25 | -18.44 | 86.67 | -5.88 | 12.97 | 13.29 | 67.84 | -43.05 | 7.02 | -8.95 | 0 |
| 21Q1 (6) | 7.28 | -23.45 | 102.22 | 13.05 | 4.15 | 32.62 | 8.71 | -3.22 | 64.96 | 9.46 | 4.42 | 41.41 | 6.81 | 4.45 | 41.29 | 4.95 | -30.08 | 71.28 | 2.29 | -23.41 | 60.14 | 0.34 | -26.09 | 17.24 | 11.49 | 7.89 | 26.4 | 100.43 | -26.0 | 3.43 | 92.08 | -7.35 | 16.63 | 7.92 | 1182.67 | -62.56 | 7.71 | 22.97 | 3.77 |
| 20Q4 (5) | 9.51 | 21.92 | 54.89 | 12.53 | -3.69 | 19.79 | 9.00 | -0.22 | 45.4 | 9.06 | -3.0 | 33.83 | 6.52 | -2.98 | 35.83 | 7.08 | 10.62 | 55.26 | 2.99 | 13.26 | 41.71 | 0.46 | 17.95 | 4.55 | 10.65 | -3.88 | 28.93 | 135.72 | -1.79 | 24.21 | 99.38 | 2.86 | 8.76 | 0.62 | -81.74 | -92.9 | 6.27 | -12.31 | 9.81 |
| 20Q3 (4) | 7.80 | 22.07 | 0.0 | 13.01 | 25.7 | 0.0 | 9.02 | 40.06 | 0.0 | 9.34 | 11.19 | 0.0 | 6.72 | 11.07 | 0.0 | 6.40 | 27.74 | 0.0 | 2.64 | 15.79 | 0.0 | 0.39 | 5.41 | 0.0 | 11.08 | 9.06 | 0.0 | 138.19 | -5.88 | 0.0 | 96.62 | 25.94 | 0.0 | 3.38 | -85.51 | 0.0 | 7.15 | 0 | 0.0 |
| 20Q2 (3) | 6.39 | 77.5 | 0.0 | 10.35 | 5.18 | 0.0 | 6.44 | 21.97 | 0.0 | 8.40 | 25.56 | 0.0 | 6.05 | 25.52 | 0.0 | 5.01 | 73.36 | 0.0 | 2.28 | 59.44 | 0.0 | 0.37 | 27.59 | 0.0 | 10.16 | 11.77 | 0.0 | 146.83 | 51.22 | 0.0 | 76.72 | -2.82 | 0.0 | 23.34 | 10.34 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 3.60 | -41.37 | 0.0 | 9.84 | -5.93 | 0.0 | 5.28 | -14.7 | 0.0 | 6.69 | -1.18 | 0.0 | 4.82 | 0.42 | 0.0 | 2.89 | -36.62 | 0.0 | 1.43 | -32.23 | 0.0 | 0.29 | -34.09 | 0.0 | 9.09 | 10.05 | 0.0 | 97.10 | -11.14 | 0.0 | 78.95 | -13.6 | 0.0 | 21.16 | 143.37 | 0.0 | 7.43 | 30.12 | 0.0 |
| 19Q4 (1) | 6.14 | 0.0 | 0.0 | 10.46 | 0.0 | 0.0 | 6.19 | 0.0 | 0.0 | 6.77 | 0.0 | 0.0 | 4.80 | 0.0 | 0.0 | 4.56 | 0.0 | 0.0 | 2.11 | 0.0 | 0.0 | 0.44 | 0.0 | 0.0 | 8.26 | 0.0 | 0.0 | 109.27 | 0.0 | 0.0 | 91.37 | 0.0 | 0.0 | 8.69 | 0.0 | 0.0 | 5.71 | 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) | 30.67 | -21.62 | 13.76 | -14.16 | 8.18 | -25.57 | 2.70 | 29.11 | 9.92 | -21.46 | 7.74 | -14.85 | 16.63 | -26.64 | 8.77 | -24.79 | 1.12 | -12.5 | 12.81 | -13.68 | 91.21 | -1.46 | 82.49 | -5.26 | 17.52 | 35.49 | 0.11 | -17.99 | 5.51 | -14.31 |
| 2022 (9) | 39.13 | 13.42 | 16.03 | 12.49 | 10.99 | 13.07 | 2.09 | 9.24 | 12.63 | 18.04 | 9.09 | 17.9 | 22.67 | 0.49 | 11.66 | 10.63 | 1.28 | -6.57 | 14.84 | 17.03 | 92.56 | -5.96 | 87.07 | -4.08 | 12.93 | 40.13 | 0.14 | -0.04 | 6.43 | -8.01 |
| 2021 (8) | 34.50 | 26.37 | 14.25 | 21.79 | 9.72 | 24.78 | 1.91 | 9.63 | 10.70 | 24.71 | 7.71 | 24.76 | 22.56 | 9.94 | 10.54 | 14.57 | 1.37 | -8.05 | 12.68 | 22.04 | 98.43 | -27.48 | 90.77 | 0.0 | 9.23 | 0.12 | 0.14 | -7.1 | 6.99 | 3.4 |
| 2020 (7) | 27.30 | 32.01 | 11.70 | 14.59 | 7.79 | 35.71 | 1.75 | 3.47 | 8.58 | 17.86 | 6.18 | 18.39 | 20.52 | 23.84 | 9.20 | 15.87 | 1.49 | -0.67 | 10.39 | 13.93 | 135.72 | 24.21 | 90.77 | 15.15 | 9.22 | -56.47 | 0.15 | 28.93 | 6.76 | 4.81 |
| 2019 (6) | 20.68 | 19.19 | 10.21 | -1.54 | 5.74 | -6.67 | 1.69 | -7.14 | 7.28 | 1.82 | 5.22 | 1.56 | 16.57 | 8.94 | 7.94 | 10.74 | 1.50 | 8.7 | 9.12 | 0.22 | 109.27 | -4.84 | 78.83 | -8.43 | 21.17 | 51.87 | 0.12 | -1.67 | 6.45 | -4.87 |
| 2018 (5) | 17.35 | 70.43 | 10.37 | 17.84 | 6.15 | 36.97 | 1.82 | -6.79 | 7.15 | 13.49 | 5.14 | 13.22 | 15.21 | 21.58 | 7.17 | 18.71 | 1.38 | 6.15 | 9.10 | 7.95 | 114.83 | -0.33 | 86.08 | 21.02 | 13.94 | -51.67 | 0.12 | 0 | 6.78 | -2.87 |
| 2017 (4) | 10.18 | 11.99 | 8.80 | -12.61 | 4.49 | -19.39 | 1.95 | -4.32 | 6.30 | -5.97 | 4.54 | -5.81 | 12.51 | -4.79 | 6.04 | -5.77 | 1.30 | -1.52 | 8.43 | -4.42 | 115.21 | 6.59 | 71.13 | -14.36 | 28.84 | 70.26 | 0.00 | 0 | 6.98 | 3.41 |
| 2016 (3) | 9.09 | -10.0 | 10.07 | -2.99 | 5.57 | -5.91 | 2.04 | 26.68 | 6.70 | -8.09 | 4.82 | -3.6 | 13.14 | -14.34 | 6.41 | -12.79 | 1.32 | -8.33 | 8.82 | -2.76 | 108.09 | 3.93 | 83.06 | 2.21 | 16.94 | -9.58 | 0.00 | 0 | 6.75 | -6.77 |
| 2015 (2) | 10.10 | -8.01 | 10.38 | -8.06 | 5.92 | -8.64 | 1.61 | -4.06 | 7.29 | -3.95 | 5.00 | -12.43 | 15.34 | -11.94 | 7.35 | -9.48 | 1.44 | 3.6 | 9.07 | -4.02 | 104.00 | -15.82 | 81.26 | -4.77 | 18.74 | 27.75 | 0.00 | 0 | 7.24 | 13.84 |
| 2014 (1) | 10.98 | 4.57 | 11.29 | 0 | 6.48 | 0 | 1.68 | 1.61 | 7.59 | 0 | 5.71 | 0 | 17.42 | 0 | 8.12 | 0 | 1.39 | -3.47 | 9.45 | -0.84 | 123.54 | 8.15 | 85.33 | -1.77 | 14.67 | 11.88 | 0.00 | 0 | 6.36 | 75.21 |
