- 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) | 3.10 | -7.19 | -21.32 | 52.39 | 4.74 | -3.04 | 37.12 | 6.18 | 0.11 | 36.66 | -6.14 | -14.96 | 29.05 | -7.51 | -15.99 | 5.84 | -6.41 | -25.61 | 4.12 | -5.94 | -24.68 | 0.14 | 0.0 | -12.5 | 48.11 | -3.2 | -9.24 | 31.34 | -43.6 | -8.04 | 101.20 | 13.29 | 17.65 | -1.20 | -111.51 | -108.6 | 31.21 | 4.52 | -7.66 |
| 24Q2 (19) | 3.34 | 0.6 | -8.74 | 50.02 | 3.26 | -7.11 | 34.96 | 6.85 | -7.46 | 39.06 | 4.97 | -1.29 | 31.41 | 3.59 | -2.7 | 6.24 | 6.67 | -12.36 | 4.38 | -1.57 | -12.4 | 0.14 | -6.67 | -6.67 | 49.70 | 3.56 | 0.51 | 55.57 | 74.64 | 1.93 | 89.33 | 1.75 | -6.5 | 10.44 | -12.76 | 134.25 | 29.86 | -8.6 | 2.37 |
| 24Q1 (18) | 3.32 | 19.0 | -19.61 | 48.44 | -3.79 | -11.4 | 32.72 | 4.7 | -18.55 | 37.21 | 16.28 | -10.08 | 30.32 | 20.17 | -7.25 | 5.85 | 12.72 | -22.92 | 4.45 | 13.81 | -21.79 | 0.15 | 0.0 | -11.76 | 47.99 | 13.91 | -4.91 | 31.82 | -0.96 | -2.87 | 87.79 | -10.02 | -9.49 | 11.97 | 392.18 | 299.56 | 32.67 | 22.87 | 8.79 |
| 23Q4 (17) | 2.79 | -29.19 | -16.22 | 50.35 | -6.81 | -2.18 | 31.25 | -15.72 | -3.76 | 32.00 | -25.77 | -10.11 | 25.23 | -27.04 | -10.12 | 5.19 | -33.89 | -19.03 | 3.91 | -28.52 | -18.71 | 0.15 | -6.25 | -11.76 | 42.13 | -20.52 | -6.44 | 32.13 | -5.72 | -7.0 | 97.57 | 13.43 | 6.94 | 2.43 | -82.6 | -72.26 | 26.59 | -21.33 | -19.86 |
| 23Q3 (16) | 3.94 | 7.65 | -16.17 | 54.03 | 0.33 | -6.51 | 37.08 | -1.85 | -6.1 | 43.11 | 8.95 | -6.65 | 34.58 | 7.13 | -4.0 | 7.85 | 10.25 | -20.3 | 5.47 | 9.4 | -21.29 | 0.16 | 6.67 | -15.79 | 53.01 | 7.2 | -2.98 | 34.08 | -37.49 | 5.54 | 86.02 | -9.97 | 0.77 | 13.98 | 213.56 | -3.41 | 33.80 | 15.87 | -0.76 |
| 23Q2 (15) | 3.66 | -11.38 | -10.73 | 53.85 | -1.5 | -4.25 | 37.78 | -5.95 | 1.26 | 39.57 | -4.37 | -6.37 | 32.28 | -1.25 | -1.82 | 7.12 | -6.19 | -18.54 | 5.00 | -12.13 | -19.09 | 0.15 | -11.76 | -21.05 | 49.45 | -2.02 | -3.29 | 54.52 | 66.42 | 3.32 | 95.54 | -1.51 | 8.16 | 4.46 | 48.81 | -61.78 | 29.17 | -2.86 | -13.44 |
| 23Q1 (14) | 4.13 | 24.02 | 11.02 | 54.67 | 6.22 | 1.03 | 40.17 | 23.71 | 10.63 | 41.38 | 16.24 | 6.81 | 32.69 | 16.46 | 7.99 | 7.59 | 18.41 | -1.81 | 5.69 | 18.3 | -2.9 | 0.17 | 0.0 | -10.53 | 50.47 | 12.08 | 5.28 | 32.76 | -5.18 | 2.47 | 97.00 | 6.33 | 3.49 | 3.00 | -65.83 | -52.16 | 30.03 | -9.49 | -8.86 |
| 22Q4 (13) | 3.33 | -29.15 | 20.22 | 51.47 | -10.94 | 2.67 | 32.47 | -17.78 | -3.45 | 35.60 | -22.91 | 5.17 | 28.07 | -22.07 | 7.84 | 6.41 | -34.92 | -0.77 | 4.81 | -30.79 | -2.04 | 0.17 | -10.53 | -10.53 | 45.03 | -17.59 | 2.67 | 34.55 | 7.0 | 5.08 | 91.23 | 6.88 | -8.03 | 8.77 | -39.42 | 1543.96 | 33.18 | -2.58 | 4.87 |
| 22Q3 (12) | 4.70 | 14.63 | 49.68 | 57.79 | 2.76 | 10.52 | 39.49 | 5.84 | 15.13 | 46.18 | 9.28 | 35.74 | 36.02 | 9.55 | 34.6 | 9.85 | 12.7 | 31.68 | 6.95 | 12.46 | 27.99 | 0.19 | 0.0 | -5.0 | 54.64 | 6.86 | 25.7 | 32.29 | -38.81 | 3.39 | 85.36 | -3.36 | -15.28 | 14.47 | 24.06 | 2010.53 | 34.06 | 1.07 | 9.52 |
| 22Q2 (11) | 4.10 | 10.22 | 55.3 | 56.24 | 3.94 | 15.29 | 37.31 | 2.75 | 9.74 | 42.26 | 9.09 | 28.92 | 32.88 | 8.62 | 29.86 | 8.74 | 13.07 | 38.73 | 6.18 | 5.46 | 33.77 | 0.19 | 0.0 | 5.56 | 51.13 | 6.65 | 18.44 | 52.77 | 65.06 | 15.52 | 88.33 | -5.76 | -14.91 | 11.67 | 86.28 | 406.03 | 33.70 | 2.28 | 11.04 |
| 22Q1 (10) | 3.72 | 34.3 | 37.27 | 54.11 | 7.94 | 11.29 | 36.31 | 7.97 | 18.0 | 38.74 | 14.45 | 25.78 | 30.27 | 16.29 | 21.37 | 7.73 | 19.66 | 29.48 | 5.86 | 19.35 | 26.57 | 0.19 | 0.0 | 5.56 | 47.94 | 9.3 | 16.27 | 31.97 | -2.77 | 11.51 | 93.74 | -5.51 | -6.26 | 6.26 | 1074.32 | 0 | 32.95 | 4.14 | 2.3 |
| 21Q4 (9) | 2.77 | -11.78 | 36.45 | 50.13 | -4.13 | 14.37 | 33.63 | -1.95 | 14.94 | 33.85 | -0.5 | 22.56 | 26.03 | -2.73 | 15.59 | 6.46 | -13.64 | 20.75 | 4.91 | -9.58 | 16.9 | 0.19 | -5.0 | 0.0 | 43.86 | 0.9 | 15.24 | 32.88 | 5.28 | 7.7 | 99.20 | -1.55 | -6.23 | 0.53 | 170.4 | 109.21 | 31.64 | 1.74 | -2.01 |
| 21Q3 (8) | 3.14 | 18.94 | 39.56 | 52.29 | 7.2 | 13.7 | 34.30 | 0.88 | 11.08 | 34.02 | 3.78 | 10.28 | 26.76 | 5.69 | 12.63 | 7.48 | 18.73 | 25.5 | 5.43 | 17.53 | 21.48 | 0.20 | 11.11 | 5.26 | 43.47 | 0.69 | 5.48 | 31.23 | -31.63 | 23.83 | 100.76 | -2.94 | 0.76 | -0.76 | 80.13 | 0 | 31.10 | 2.47 | 0.23 |
| 21Q2 (7) | 2.64 | -2.58 | 25.71 | 48.78 | 0.33 | 6.88 | 34.00 | 10.5 | 20.4 | 32.78 | 6.43 | 23.47 | 25.32 | 1.52 | 17.88 | 6.30 | 5.53 | 20.46 | 4.62 | -0.22 | 16.67 | 0.18 | 0.0 | 0.0 | 43.17 | 4.71 | 17.79 | 45.68 | 59.33 | 7.2 | 103.81 | 3.81 | -2.22 | -3.81 | 0 | 38.24 | 30.35 | -5.77 | -6.62 |
| 21Q1 (6) | 2.71 | 33.5 | 64.24 | 48.62 | 10.93 | 11.77 | 30.77 | 5.16 | 15.07 | 30.80 | 11.51 | 17.96 | 24.94 | 10.75 | 18.2 | 5.97 | 11.59 | 48.51 | 4.63 | 10.24 | 42.02 | 0.18 | -5.26 | 20.0 | 41.23 | 8.33 | 8.53 | 28.67 | -6.09 | 23.15 | 100.00 | -5.47 | -2.54 | 0.00 | 100.0 | 100.0 | 32.21 | -0.25 | -8.55 |
| 20Q4 (5) | 2.03 | -9.78 | 3.05 | 43.83 | -4.7 | -10.57 | 29.26 | -5.25 | -5.25 | 27.62 | -10.47 | -4.89 | 22.52 | -5.22 | -7.13 | 5.35 | -10.23 | 6.79 | 4.20 | -6.04 | 5.79 | 0.19 | 0.0 | 18.75 | 38.06 | -7.64 | -4.42 | 30.53 | 21.05 | 21.3 | 105.79 | 5.79 | -0.48 | -5.79 | 0 | 8.16 | 32.29 | 4.06 | -5.86 |
| 20Q3 (4) | 2.25 | 7.14 | 0.0 | 45.99 | 0.77 | 0.0 | 30.88 | 9.35 | 0.0 | 30.85 | 16.2 | 0.0 | 23.76 | 10.61 | 0.0 | 5.96 | 13.96 | 0.0 | 4.47 | 12.88 | 0.0 | 0.19 | 5.56 | 0.0 | 41.21 | 12.44 | 0.0 | 25.22 | -40.81 | 0.0 | 100.00 | -5.81 | 0.0 | 0.00 | 100.0 | 0.0 | 31.03 | -4.52 | 0.0 |
| 20Q2 (3) | 2.10 | 27.27 | 0.0 | 45.64 | 4.92 | 0.0 | 28.24 | 5.61 | 0.0 | 26.55 | 1.69 | 0.0 | 21.48 | 1.8 | 0.0 | 5.23 | 30.1 | 0.0 | 3.96 | 21.47 | 0.0 | 0.18 | 20.0 | 0.0 | 36.65 | -3.53 | 0.0 | 42.61 | 83.03 | 0.0 | 106.17 | 3.48 | 0.0 | -6.17 | -137.04 | 0.0 | 32.50 | -7.72 | 0.0 |
| 20Q1 (2) | 1.65 | -16.24 | 0.0 | 43.50 | -11.24 | 0.0 | 26.74 | -13.41 | 0.0 | 26.11 | -10.09 | 0.0 | 21.10 | -12.99 | 0.0 | 4.02 | -19.76 | 0.0 | 3.26 | -17.88 | 0.0 | 0.15 | -6.25 | 0.0 | 37.99 | -4.6 | 0.0 | 23.28 | -7.51 | 0.0 | 102.60 | -3.48 | 0.0 | -2.60 | 58.71 | 0.0 | 35.22 | 2.68 | 0.0 |
| 19Q4 (1) | 1.97 | 0.0 | 0.0 | 49.01 | 0.0 | 0.0 | 30.88 | 0.0 | 0.0 | 29.04 | 0.0 | 0.0 | 24.25 | 0.0 | 0.0 | 5.01 | 0.0 | 0.0 | 3.97 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 39.82 | 0.0 | 0.0 | 25.17 | 0.0 | 0.0 | 106.31 | 0.0 | 0.0 | -6.31 | 0.0 | 0.0 | 34.30 | 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) | 14.32 | -9.65 | 53.28 | -3.11 | 36.68 | 0.52 | 9.56 | 8.24 | 39.12 | -4.24 | 31.27 | -2.04 | 27.33 | -15.12 | 20.55 | -14.8 | 0.66 | -12.0 | 48.86 | -1.99 | 32.13 | -7.0 | 93.81 | 5.04 | 6.24 | -41.59 | 0.00 | 0 | 29.93 | -10.63 |
| 2022 (9) | 15.85 | 43.96 | 54.99 | 9.91 | 36.49 | 9.81 | 8.83 | -10.19 | 40.85 | 24.09 | 31.92 | 23.72 | 32.20 | 25.49 | 24.12 | 23.38 | 0.75 | 0.0 | 49.85 | 15.98 | 34.55 | 5.08 | 89.31 | -11.5 | 10.69 | 0 | 0.00 | 0 | 33.49 | 6.93 |
| 2021 (8) | 11.01 | 37.11 | 50.03 | 11.67 | 33.23 | 15.02 | 9.84 | -6.08 | 32.92 | 18.08 | 25.80 | 15.8 | 25.66 | 28.82 | 19.55 | 25.0 | 0.75 | 7.14 | 42.98 | 11.55 | 32.88 | 7.7 | 100.91 | -2.57 | -0.91 | 0 | 0.00 | 0 | 31.32 | -4.01 |
| 2020 (7) | 8.03 | 10.61 | 44.80 | -2.5 | 28.89 | 3.7 | 10.47 | -3.82 | 27.88 | 0.8 | 22.28 | -2.58 | 19.92 | 9.69 | 15.64 | 8.24 | 0.70 | 11.11 | 38.53 | -0.77 | 30.53 | 21.3 | 103.57 | 2.82 | -3.67 | 0 | 0.00 | 0 | 32.63 | 3.0 |
| 2019 (6) | 7.26 | -4.22 | 45.95 | 1.28 | 27.86 | -2.07 | 10.89 | 5.6 | 27.66 | -5.4 | 22.87 | -4.19 | 18.16 | -7.16 | 14.45 | -5.18 | 0.63 | -1.56 | 38.83 | -2.12 | 25.17 | -8.27 | 100.73 | 3.44 | -0.73 | 0 | 0.00 | 0 | 31.68 | 7.57 |
| 2018 (5) | 7.58 | -1.69 | 45.37 | -3.53 | 28.45 | 0.11 | 10.31 | 7.72 | 29.24 | -0.2 | 23.87 | -0.62 | 19.56 | -6.63 | 15.24 | -4.09 | 0.64 | -3.03 | 39.67 | 1.77 | 27.44 | -6.06 | 97.37 | 0.43 | 2.74 | -9.89 | 0.02 | 0 | 29.45 | -1.04 |
| 2017 (4) | 7.71 | 0.78 | 47.03 | -3.86 | 28.42 | -9.66 | 9.57 | -9.98 | 29.30 | -6.87 | 24.02 | -4.34 | 20.95 | -2.96 | 15.89 | -0.75 | 0.66 | 3.13 | 38.98 | -7.74 | 29.21 | -15.87 | 96.96 | -3.04 | 3.04 | 0 | 0.00 | 0 | 29.76 | 5.23 |
| 2016 (3) | 7.65 | -10.0 | 48.92 | 0.66 | 31.46 | 5.11 | 10.63 | -0.69 | 31.46 | 2.91 | 25.11 | 1.74 | 21.59 | -21.75 | 16.01 | -16.87 | 0.64 | -17.95 | 42.25 | 1.59 | 34.72 | -1.75 | 100.00 | 2.12 | 0.00 | 0 | 0.00 | 0 | 28.28 | -6.61 |
| 2015 (2) | 8.50 | 12.88 | 48.60 | 3.38 | 29.93 | 6.93 | 10.71 | -1.93 | 30.57 | 7.79 | 24.68 | 8.25 | 27.59 | -7.2 | 19.26 | -4.37 | 0.78 | -11.36 | 41.59 | 5.4 | 35.34 | -36.94 | 97.93 | -0.88 | 2.07 | 56.01 | 0.00 | 0 | 30.28 | -8.21 |
| 2014 (1) | 7.53 | 43.43 | 47.01 | 0 | 27.99 | 0 | 10.92 | -3.26 | 28.36 | 0 | 22.80 | 0 | 29.73 | 0 | 20.14 | 0 | 0.88 | 6.02 | 39.46 | 11.98 | 56.04 | 43.77 | 98.79 | -1.93 | 1.33 | 0 | 0.00 | 0 | 32.99 | 5.2 |
