- 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) | 1.00 | 16.28 | 16.28 | 45.32 | 8.34 | -3.0 | 27.94 | 16.37 | 1.01 | 29.09 | 12.88 | -1.39 | 23.48 | 3.3 | -1.01 | 5.99 | 19.09 | 14.31 | 3.36 | 12.37 | -8.45 | 0.14 | 7.69 | -6.67 | 36.97 | 6.79 | 0.74 | 71.13 | -19.58 | 88.67 | 96.24 | 3.26 | 2.61 | 3.76 | -44.68 | -39.41 | 35.12 | -7.24 | -6.72 |
| 24Q2 (19) | 0.86 | 17.81 | -8.51 | 41.83 | 1.7 | -15.0 | 24.01 | 6.19 | -22.42 | 25.77 | 6.22 | -21.22 | 22.73 | 19.76 | -16.95 | 5.03 | 22.38 | -11.44 | 2.99 | 7.17 | -27.25 | 0.13 | -13.33 | -13.33 | 34.62 | 11.03 | -14.37 | 88.45 | 67.39 | 82.9 | 93.20 | -0.35 | -1.56 | 6.80 | -5.44 | 27.74 | 37.86 | -9.1 | 4.36 |
| 24Q1 (18) | 0.73 | 8.96 | 0.0 | 41.13 | 6.42 | -5.47 | 22.61 | 39.4 | -10.28 | 24.26 | 46.41 | -6.26 | 18.98 | 32.45 | -7.37 | 4.11 | 4.58 | -5.08 | 2.79 | -1.06 | -13.89 | 0.15 | -25.0 | -6.25 | 31.18 | 41.21 | -5.57 | 52.84 | 28.35 | 80.03 | 93.53 | -4.83 | -3.68 | 7.19 | 317.27 | 148.2 | 41.65 | -10.16 | 3.12 |
| 23Q4 (17) | 0.67 | -22.09 | 55.81 | 38.65 | -17.27 | -0.82 | 16.22 | -41.36 | 22.88 | 16.57 | -43.83 | 24.03 | 14.33 | -39.59 | 32.56 | 3.93 | -25.0 | 47.19 | 2.82 | -23.16 | 42.42 | 0.20 | 33.33 | 11.11 | 22.08 | -39.84 | 11.91 | 41.17 | 9.2 | 7.21 | 98.28 | 4.78 | -0.5 | 1.72 | -72.24 | 39.66 | 46.36 | 23.13 | -10.14 |
| 23Q3 (16) | 0.86 | -8.51 | 14.67 | 46.72 | -5.06 | 9.44 | 27.66 | -10.63 | 11.76 | 29.50 | -9.81 | 10.12 | 23.72 | -13.34 | 9.66 | 5.24 | -7.75 | 10.78 | 3.67 | -10.71 | 8.58 | 0.15 | 0.0 | -6.25 | 36.70 | -9.23 | 7.18 | 37.70 | -22.04 | 18.89 | 93.79 | -0.94 | 1.85 | 6.21 | 16.63 | -21.51 | 37.65 | 3.78 | -5.14 |
| 23Q2 (15) | 0.94 | 28.77 | 23.68 | 49.21 | 13.1 | 13.26 | 30.95 | 22.82 | 19.22 | 32.71 | 26.39 | 26.78 | 27.37 | 33.58 | 26.25 | 5.68 | 31.18 | 19.33 | 4.11 | 26.85 | 26.85 | 0.15 | -6.25 | 0.0 | 40.43 | 22.44 | 22.92 | 48.36 | 64.77 | -1.91 | 94.67 | -2.5 | -6.02 | 5.33 | 83.73 | 824.26 | 36.28 | -10.18 | -8.13 |
| 23Q1 (14) | 0.73 | 69.77 | -36.52 | 43.51 | 11.65 | -11.22 | 25.20 | 90.91 | -25.13 | 25.88 | 93.71 | -26.62 | 20.49 | 89.55 | -26.35 | 4.33 | 62.17 | -39.19 | 3.24 | 63.64 | -29.41 | 0.16 | -11.11 | 0.0 | 33.02 | 67.36 | -19.72 | 29.35 | -23.57 | -35.17 | 97.10 | -1.68 | 1.75 | 2.90 | 134.78 | -36.52 | 40.39 | -21.71 | 14.13 |
| 22Q4 (13) | 0.43 | -42.67 | -43.42 | 38.97 | -8.71 | 1.46 | 13.20 | -46.67 | -30.05 | 13.36 | -50.13 | -32.93 | 10.81 | -50.02 | -32.73 | 2.67 | -43.55 | -45.84 | 1.98 | -41.42 | -39.45 | 0.18 | 12.5 | -10.0 | 19.73 | -42.38 | -20.95 | 38.40 | 21.1 | -42.05 | 98.77 | 7.25 | 3.96 | 1.23 | -84.4 | -75.31 | 51.59 | 29.98 | 20.2 |
| 22Q3 (12) | 0.75 | -1.32 | 20.97 | 42.69 | -1.75 | 5.43 | 24.75 | -4.66 | 13.69 | 26.79 | 3.84 | 18.33 | 21.63 | -0.23 | 18.33 | 4.73 | -0.63 | 13.43 | 3.38 | 4.32 | 14.97 | 0.16 | 6.67 | 0.0 | 34.24 | 4.1 | 16.26 | 31.71 | -35.68 | -8.62 | 92.09 | -8.59 | -3.73 | 7.91 | 1176.26 | 127.52 | 39.69 | 0.51 | 3.12 |
| 22Q2 (11) | 0.76 | -33.91 | 18.75 | 43.45 | -11.34 | 5.21 | 25.96 | -22.88 | 5.66 | 25.80 | -26.85 | 7.86 | 21.68 | -22.07 | 9.16 | 4.76 | -33.15 | 12.0 | 3.24 | -29.41 | 6.23 | 0.15 | -6.25 | 0.0 | 32.89 | -20.03 | 7.77 | 49.30 | 8.9 | -1.14 | 100.74 | 5.56 | -1.8 | -0.74 | -116.1 | 71.57 | 39.49 | 11.59 | 1.83 |
| 22Q1 (10) | 1.15 | 51.32 | 40.24 | 49.01 | 27.6 | 14.14 | 33.66 | 78.38 | 17.9 | 35.27 | 77.06 | 22.76 | 27.82 | 73.12 | 21.17 | 7.12 | 44.42 | 32.34 | 4.59 | 40.37 | 15.91 | 0.16 | -20.0 | -5.88 | 41.13 | 64.78 | 18.98 | 45.27 | -31.68 | 46.98 | 95.43 | 0.46 | -3.95 | 4.57 | -8.68 | 607.76 | 35.39 | -17.54 | 1.4 |
| 21Q4 (9) | 0.76 | 22.58 | 40.74 | 38.41 | -5.14 | 1.94 | 18.87 | -13.32 | 0.16 | 19.92 | -12.01 | 3.7 | 16.07 | -12.09 | 4.35 | 4.93 | 18.23 | 35.44 | 3.27 | 11.22 | 30.8 | 0.20 | 25.0 | 25.0 | 24.96 | -15.25 | -0.56 | 66.26 | 90.95 | 56.75 | 95.00 | -0.68 | -3.06 | 5.00 | 43.75 | 150.0 | 42.92 | 11.51 | -7.64 |
| 21Q3 (8) | 0.62 | -3.13 | -30.34 | 40.49 | -1.96 | -13.17 | 21.77 | -11.4 | -27.65 | 22.64 | -5.35 | -25.99 | 18.28 | -7.96 | -25.39 | 4.17 | -1.88 | -33.49 | 2.94 | -3.61 | -31.79 | 0.16 | 6.67 | -11.11 | 29.45 | -3.51 | -17.99 | 34.70 | -30.42 | -30.78 | 95.65 | -6.76 | -2.59 | 3.48 | 234.49 | 92.46 | 38.49 | -0.75 | 17.35 |
| 21Q2 (7) | 0.64 | -21.95 | 39.13 | 41.30 | -3.82 | 12.63 | 24.57 | -13.94 | 31.81 | 23.92 | -16.74 | 24.84 | 19.86 | -13.5 | 24.83 | 4.25 | -21.0 | 31.58 | 3.05 | -22.98 | 25.51 | 0.15 | -11.76 | 0.0 | 30.52 | -11.72 | 16.98 | 49.87 | 61.92 | 20.37 | 102.59 | 3.25 | 6.39 | -2.59 | -500.86 | -208.62 | 38.78 | 11.12 | 0.75 |
| 21Q1 (6) | 0.82 | 51.85 | 127.78 | 42.94 | 13.96 | 15.59 | 28.55 | 51.54 | 45.22 | 28.73 | 49.56 | 63.42 | 22.96 | 49.09 | 68.21 | 5.38 | 47.8 | 119.59 | 3.96 | 58.4 | 107.33 | 0.17 | 6.25 | 21.43 | 34.57 | 37.73 | 39.0 | 30.80 | -27.14 | 21.55 | 99.35 | 1.38 | -10.84 | 0.65 | -67.74 | 105.65 | 34.90 | -24.9 | 0 |
| 20Q4 (5) | 0.54 | -39.33 | 5.88 | 37.68 | -19.19 | 3.92 | 18.84 | -37.39 | 6.38 | 19.21 | -37.2 | 9.09 | 15.40 | -37.14 | 9.84 | 3.64 | -41.95 | 1.68 | 2.50 | -42.0 | -9.09 | 0.16 | -11.11 | -20.0 | 25.10 | -30.1 | 9.56 | 42.27 | -15.68 | 34.11 | 98.00 | -0.2 | -2.0 | 2.00 | 10.67 | 294.0 | 46.47 | 41.68 | 15.54 |
| 20Q3 (4) | 0.89 | 93.48 | 0.0 | 46.63 | 27.16 | 0.0 | 30.09 | 61.43 | 0.0 | 30.59 | 59.66 | 0.0 | 24.50 | 53.99 | 0.0 | 6.27 | 94.12 | 0.0 | 4.31 | 77.37 | 0.0 | 0.18 | 20.0 | 0.0 | 35.91 | 37.64 | 0.0 | 50.13 | 21.0 | 0.0 | 98.19 | 1.83 | 0.0 | 1.81 | -24.1 | 0.0 | 32.80 | -14.78 | 0.0 |
| 20Q2 (3) | 0.46 | 27.78 | 0.0 | 36.67 | -1.29 | 0.0 | 18.64 | -5.19 | 0.0 | 19.16 | 8.99 | 0.0 | 15.91 | 16.56 | 0.0 | 3.23 | 31.84 | 0.0 | 2.43 | 27.23 | 0.0 | 0.15 | 7.14 | 0.0 | 26.09 | 4.91 | 0.0 | 41.43 | 63.5 | 0.0 | 96.43 | -13.46 | 0.0 | 2.38 | 120.83 | 0.0 | 38.49 | 0 | 0.0 |
| 20Q1 (2) | 0.36 | -29.41 | 0.0 | 37.15 | 2.45 | 0.0 | 19.66 | 11.01 | 0.0 | 17.58 | -0.17 | 0.0 | 13.65 | -2.64 | 0.0 | 2.45 | -31.56 | 0.0 | 1.91 | -30.55 | 0.0 | 0.14 | -30.0 | 0.0 | 24.87 | 8.56 | 0.0 | 25.34 | -19.61 | 0.0 | 111.43 | 11.43 | 0.0 | -11.43 | -1008.57 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 0.51 | 0.0 | 0.0 | 36.26 | 0.0 | 0.0 | 17.71 | 0.0 | 0.0 | 17.61 | 0.0 | 0.0 | 14.02 | 0.0 | 0.0 | 3.58 | 0.0 | 0.0 | 2.75 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 22.91 | 0.0 | 0.0 | 31.52 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -1.03 | 0.0 | 0.0 | 40.22 | 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) | 3.20 | 3.56 | 44.07 | 1.08 | 24.34 | -0.21 | 5.44 | -2.0 | 25.43 | 0.47 | 20.92 | 2.25 | 18.99 | -1.71 | 13.60 | 6.75 | 0.65 | 4.84 | 32.17 | 0.53 | 41.17 | 7.21 | 95.72 | -0.65 | 4.28 | 17.01 | 1.61 | 12.57 | 40.64 | -2.38 |
| 2022 (9) | 3.09 | 8.8 | 43.60 | 7.39 | 24.39 | 5.58 | 5.55 | 9.78 | 25.31 | 7.56 | 20.46 | 7.4 | 19.32 | 3.7 | 12.74 | 5.38 | 0.62 | -1.59 | 32.00 | 8.47 | 38.40 | -42.05 | 96.34 | -1.79 | 3.66 | 92.44 | 1.43 | 6.91 | 41.63 | 6.5 |
| 2021 (8) | 2.84 | 26.22 | 40.60 | 1.78 | 23.10 | 4.15 | 5.06 | -0.97 | 23.53 | 6.42 | 19.05 | 7.32 | 18.63 | 22.32 | 12.09 | 8.53 | 0.63 | 0.0 | 29.50 | 3.95 | 66.26 | 56.75 | 98.10 | -2.13 | 1.90 | 0 | 1.34 | 12.12 | 39.09 | -1.49 |
| 2020 (7) | 2.25 | 14.8 | 39.89 | 3.99 | 22.18 | 9.1 | 5.11 | -9.16 | 22.11 | 5.84 | 17.75 | 4.41 | 15.23 | 14.17 | 11.14 | 11.07 | 0.63 | 5.0 | 28.38 | 2.86 | 42.27 | 34.11 | 100.24 | 3.09 | -0.24 | 0 | 1.20 | -13.82 | 39.68 | 2.37 |
| 2019 (6) | 1.96 | 4.81 | 38.36 | -7.34 | 20.33 | -4.24 | 5.62 | 34.96 | 20.89 | -5.35 | 17.00 | -3.85 | 13.34 | 1.52 | 10.03 | 0.3 | 0.60 | 5.26 | 27.59 | 2.11 | 31.52 | -9.37 | 97.23 | 0.99 | 2.77 | -25.63 | 1.39 | -10.31 | 38.76 | -3.96 |
| 2018 (5) | 1.87 | 10.0 | 41.40 | -4.5 | 21.23 | 2.76 | 4.17 | -8.59 | 22.07 | 2.7 | 17.68 | -2.37 | 13.14 | 6.83 | 10.00 | 4.17 | 0.57 | 7.55 | 27.02 | 0.9 | 34.78 | 24.84 | 96.28 | 0.26 | 3.72 | -6.26 | 1.55 | 0 | 40.36 | -6.36 |
| 2017 (4) | 1.70 | 24.09 | 43.35 | 0.7 | 20.66 | 7.77 | 4.56 | -13.8 | 21.49 | 9.2 | 18.11 | 9.96 | 12.30 | 20.12 | 9.60 | 21.98 | 0.53 | 12.77 | 26.78 | 3.16 | 27.86 | -2.31 | 96.03 | -1.16 | 3.97 | 62.91 | 0.00 | 0 | 43.10 | -3.99 |
| 2016 (3) | 1.37 | 11.38 | 43.05 | 8.9 | 19.17 | 19.89 | 5.29 | 21.91 | 19.68 | 16.93 | 16.47 | 17.22 | 10.24 | 10.82 | 7.87 | 12.59 | 0.47 | -6.0 | 25.96 | 17.2 | 28.52 | -11.04 | 97.15 | 2.24 | 2.44 | -51.0 | 0.00 | 0 | 44.89 | 11.72 |
| 2015 (2) | 1.23 | -6.11 | 39.53 | 0.74 | 15.99 | -1.05 | 4.34 | -4.21 | 16.83 | -2.09 | 14.05 | -3.77 | 9.24 | -7.23 | 6.99 | -7.78 | 0.50 | -3.85 | 22.15 | -4.69 | 32.06 | -2.52 | 95.02 | 1.12 | 4.98 | -17.52 | 0.00 | 0 | 40.18 | 3.58 |
| 2014 (1) | 1.31 | 1.55 | 39.24 | 0 | 16.16 | 0 | 4.53 | 7.99 | 17.19 | 0 | 14.60 | 0 | 9.96 | 0 | 7.58 | 0 | 0.52 | -13.33 | 23.24 | 11.52 | 32.89 | 7.03 | 93.97 | -1.93 | 6.03 | 60.25 | 0.00 | 0 | 38.79 | 27.06 |
