- 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) | 1.04 | 23.81 | 30.0 | 57.24 | 18.63 | 17.1 | 35.31 | 30.39 | 23.03 | 35.77 | 24.59 | 26.26 | 29.34 | 25.33 | 28.07 | 3.49 | 19.52 | 26.91 | 2.16 | 30.91 | 30.91 | 0.07 | 0.0 | 0.0 | 57.50 | 13.3 | 14.34 | 60.99 | -14.57 | -12.73 | 98.94 | 4.39 | -1.73 | 1.06 | -81.91 | 178.19 | 11.57 | 11.57 | 9.15 |
| 24Q2 (19) | 0.84 | 0.0 | -20.0 | 48.25 | -4.53 | -8.24 | 27.08 | -6.36 | -20.61 | 28.71 | -3.24 | -20.32 | 23.41 | -2.58 | -22.07 | 2.92 | 1.74 | -21.93 | 1.65 | -3.51 | -20.67 | 0.07 | 0.0 | 0.0 | 50.75 | -1.89 | -12.62 | 71.39 | -26.44 | -16.39 | 94.77 | -2.7 | 0.13 | 5.88 | 126.47 | 10.0 | 10.37 | -18.22 | 2.37 |
| 24Q1 (18) | 0.84 | 2.44 | -1.18 | 50.54 | 4.64 | 0.8 | 28.92 | 2.59 | -4.93 | 29.67 | 3.45 | -1.62 | 24.03 | 3.09 | -2.2 | 2.87 | 4.74 | -2.71 | 1.71 | -5.0 | 0.59 | 0.07 | 0.0 | 0.0 | 51.73 | 2.09 | -1.18 | 97.05 | 89.14 | 6.54 | 97.40 | -1.27 | -3.23 | 2.60 | 29.0 | 500.0 | 12.68 | 23.83 | 11.92 |
| 23Q4 (17) | 0.82 | 2.5 | 0.0 | 48.30 | -1.19 | -0.9 | 28.19 | -1.78 | -2.59 | 28.68 | 1.24 | -1.31 | 23.31 | 1.75 | -1.27 | 2.74 | -0.36 | -2.14 | 1.80 | 9.09 | 7.14 | 0.07 | 0.0 | 0.0 | 50.67 | 0.76 | 0.56 | 51.31 | -26.58 | -33.02 | 98.66 | -2.01 | -0.68 | 2.01 | 247.99 | 202.01 | 10.24 | -3.4 | 3.23 |
| 23Q3 (16) | 0.80 | -23.81 | 29.03 | 48.88 | -7.04 | -0.2 | 28.70 | -15.86 | 23.12 | 28.33 | -21.37 | 24.25 | 22.91 | -23.74 | 24.31 | 2.75 | -26.47 | 26.15 | 1.65 | -20.67 | 27.91 | 0.07 | 0.0 | 16.67 | 50.29 | -13.41 | 13.44 | 69.89 | -18.14 | -9.88 | 100.68 | 6.37 | -1.04 | -1.36 | -125.44 | 47.85 | 10.60 | 4.64 | -1.3 |
| 23Q2 (15) | 1.05 | 23.53 | 16.67 | 52.58 | 4.87 | 5.97 | 34.11 | 12.13 | 2.68 | 36.03 | 19.46 | 8.43 | 30.04 | 22.26 | 11.8 | 3.74 | 26.78 | 15.08 | 2.08 | 22.35 | 14.92 | 0.07 | 0.0 | 16.67 | 58.08 | 10.95 | 6.16 | 85.38 | -6.27 | -5.13 | 94.65 | -5.96 | -5.35 | 5.35 | 923.53 | 0 | 10.13 | -10.59 | 29.87 |
| 23Q1 (14) | 0.85 | 3.66 | -24.78 | 50.14 | 2.87 | -13.82 | 30.42 | 5.11 | -24.7 | 30.16 | 3.79 | -23.88 | 24.57 | 4.07 | -27.22 | 2.95 | 5.36 | -25.88 | 1.70 | 1.19 | -25.76 | 0.07 | 0.0 | 16.67 | 52.35 | 3.89 | -15.59 | 91.09 | 18.92 | 2.11 | 100.65 | 1.32 | -1.36 | -0.65 | -197.4 | 68.18 | 11.33 | 14.21 | 13.19 |
| 22Q4 (13) | 0.82 | 32.26 | -23.36 | 48.74 | -0.49 | -15.38 | 28.94 | 24.15 | -21.51 | 29.06 | 27.46 | -19.68 | 23.61 | 28.11 | -22.59 | 2.80 | 28.44 | -24.93 | 1.68 | 30.23 | -23.98 | 0.07 | 16.67 | 0.0 | 50.39 | 13.67 | -13.36 | 76.60 | -1.23 | 2.65 | 99.33 | -2.36 | -2.22 | 0.67 | 125.56 | 131.5 | 9.92 | -7.64 | -13.36 |
| 22Q3 (12) | 0.62 | -31.11 | -42.59 | 48.98 | -1.29 | 9.87 | 23.31 | -29.83 | -12.43 | 22.80 | -31.39 | -10.66 | 18.43 | -31.41 | -42.57 | 2.18 | -32.92 | -41.24 | 1.29 | -28.73 | -42.41 | 0.06 | 0.0 | -14.29 | 44.33 | -18.97 | -10.26 | 77.55 | -13.83 | -1.56 | 101.74 | 1.74 | -2.09 | -2.61 | 0 | 44.35 | 10.74 | 37.69 | 16.11 |
| 22Q2 (11) | 0.90 | -20.35 | 47.54 | 49.62 | -14.71 | 10.41 | 33.22 | -17.77 | 31.83 | 33.23 | -16.13 | 39.5 | 26.87 | -20.41 | 45.16 | 3.25 | -18.34 | 57.77 | 1.81 | -20.96 | 40.31 | 0.06 | 0.0 | 0.0 | 54.71 | -11.79 | 12.87 | 90.00 | 0.89 | 32.33 | 100.00 | -2.0 | -5.65 | 0.00 | 100.0 | 100.0 | 7.80 | -22.08 | -18.5 |
| 22Q1 (10) | 1.13 | 5.61 | 52.7 | 58.18 | 1.01 | 23.89 | 40.40 | 9.57 | 37.6 | 39.62 | 9.51 | 41.75 | 33.76 | 10.69 | 51.39 | 3.98 | 6.7 | 56.08 | 2.29 | 3.62 | 48.7 | 0.06 | -14.29 | 0.0 | 62.02 | 6.64 | 18.74 | 89.21 | 19.55 | 17.18 | 102.04 | 0.45 | -2.89 | -2.04 | 3.57 | 59.77 | 10.01 | -12.58 | 2.14 |
| 21Q4 (9) | 1.07 | -0.93 | 57.35 | 57.60 | 29.21 | 32.14 | 36.87 | 38.5 | 42.85 | 36.18 | 41.77 | 47.61 | 30.50 | -4.95 | 56.97 | 3.73 | 0.54 | 56.07 | 2.21 | -1.34 | 52.41 | 0.07 | 0.0 | 0.0 | 58.16 | 17.73 | 18.62 | 74.62 | -5.28 | -1.71 | 101.59 | -2.23 | -3.72 | -2.12 | 54.85 | 61.6 | 11.45 | 23.78 | 36.31 |
| 21Q3 (8) | 1.08 | 77.05 | -15.62 | 44.58 | -0.8 | -35.06 | 26.62 | 5.63 | -46.36 | 25.52 | 7.14 | -47.03 | 32.09 | 73.37 | -16.67 | 3.71 | 80.1 | -20.73 | 2.24 | 73.64 | -13.51 | 0.07 | 16.67 | 16.67 | 49.40 | 1.92 | -33.32 | 78.78 | 15.84 | 2.38 | 103.91 | -1.96 | 0.94 | -4.69 | 21.65 | -59.38 | 9.25 | -3.34 | -4.54 |
| 21Q2 (7) | 0.61 | -17.57 | -10.29 | 44.94 | -4.3 | 1.63 | 25.20 | -14.17 | -7.56 | 23.82 | -14.78 | -8.07 | 18.51 | -17.0 | -8.46 | 2.06 | -19.22 | -14.88 | 1.29 | -16.23 | -6.52 | 0.06 | 0.0 | 0.0 | 48.47 | -7.2 | -6.45 | 68.01 | -10.67 | -30.4 | 105.98 | 0.87 | 0.49 | -5.98 | -17.95 | -9.4 | 9.57 | -2.35 | 10.64 |
| 21Q1 (6) | 0.74 | 8.82 | 0.0 | 46.96 | 7.73 | 3.99 | 29.36 | 13.75 | -0.78 | 27.95 | 14.04 | -0.64 | 22.30 | 14.77 | 0.72 | 2.55 | 6.69 | -1.16 | 1.54 | 6.21 | 2.67 | 0.06 | -14.29 | 0.0 | 52.23 | 6.53 | -3.67 | 76.13 | 0.28 | -2.66 | 105.07 | -0.42 | 0.07 | -5.07 | 7.97 | -1.45 | 9.80 | 16.67 | 25.64 |
| 20Q4 (5) | 0.68 | -46.88 | -10.53 | 43.59 | -36.5 | -10.79 | 25.81 | -48.0 | -14.48 | 24.51 | -49.13 | -15.07 | 19.43 | -49.55 | -14.52 | 2.39 | -48.93 | -12.45 | 1.45 | -44.02 | -5.23 | 0.07 | 16.67 | 16.67 | 49.03 | -33.82 | -10.56 | 75.92 | -1.34 | -15.85 | 105.51 | 2.5 | 1.29 | -5.51 | -87.4 | -13.39 | 8.40 | -13.31 | 0 |
| 20Q3 (4) | 1.28 | 88.24 | 0.0 | 68.65 | 55.25 | 0.0 | 49.63 | 82.06 | 0.0 | 48.18 | 85.95 | 0.0 | 38.51 | 90.45 | 0.0 | 4.68 | 93.39 | 0.0 | 2.59 | 87.68 | 0.0 | 0.06 | 0.0 | 0.0 | 74.09 | 43.0 | 0.0 | 76.95 | -21.25 | 0.0 | 102.94 | -2.4 | 0.0 | -2.94 | 46.22 | 0.0 | 9.69 | 12.02 | 0.0 |
| 20Q2 (3) | 0.68 | -8.11 | 0.0 | 44.22 | -2.08 | 0.0 | 27.26 | -7.87 | 0.0 | 25.91 | -7.89 | 0.0 | 20.22 | -8.67 | 0.0 | 2.42 | -6.2 | 0.0 | 1.38 | -8.0 | 0.0 | 0.06 | 0.0 | 0.0 | 51.81 | -4.44 | 0.0 | 97.72 | 24.95 | 0.0 | 105.47 | 0.45 | 0.0 | -5.47 | -9.37 | 0.0 | 8.65 | 10.9 | 0.0 |
| 20Q1 (2) | 0.74 | -2.63 | 0.0 | 45.16 | -7.57 | 0.0 | 29.59 | -1.95 | 0.0 | 28.13 | -2.53 | 0.0 | 22.14 | -2.6 | 0.0 | 2.58 | -5.49 | 0.0 | 1.50 | -1.96 | 0.0 | 0.06 | 0.0 | 0.0 | 54.22 | -1.09 | 0.0 | 78.21 | -13.31 | 0.0 | 105.00 | 0.8 | 0.0 | -5.00 | -2.86 | 0.0 | 7.80 | 0 | 0.0 |
| 19Q4 (1) | 0.76 | 0.0 | 0.0 | 48.86 | 0.0 | 0.0 | 30.18 | 0.0 | 0.0 | 28.86 | 0.0 | 0.0 | 22.73 | 0.0 | 0.0 | 2.73 | 0.0 | 0.0 | 1.53 | 0.0 | 0.0 | 0.06 | 0.0 | 0.0 | 54.82 | 0.0 | 0.0 | 90.22 | 0.0 | 0.0 | 104.17 | 0.0 | 0.0 | -4.86 | 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) | 3.52 | 1.15 | 49.97 | -2.67 | 30.35 | -3.37 | 18.27 | 1.88 | 30.80 | -1.06 | 25.21 | -1.6 | 11.72 | -0.59 | 7.55 | 6.19 | 0.28 | 7.69 | 52.83 | 0.04 | 51.31 | -33.02 | 98.59 | -2.19 | 1.41 | 0 | 36.58 | 13.77 | 10.57 | 9.88 |
| 2022 (9) | 3.48 | -0.85 | 51.34 | 5.57 | 31.41 | 6.08 | 17.93 | -10.51 | 31.13 | 9.34 | 25.62 | -1.23 | 11.79 | -2.56 | 7.11 | -2.34 | 0.26 | -3.7 | 52.81 | 1.29 | 76.60 | 2.65 | 100.80 | -3.11 | -0.96 | 0 | 32.15 | -4.11 | 9.62 | -4.09 |
| 2021 (8) | 3.51 | 3.85 | 48.63 | -3.34 | 29.61 | -10.19 | 20.04 | -8.68 | 28.47 | -9.85 | 25.94 | 3.76 | 12.10 | 2.2 | 7.28 | 6.43 | 0.27 | 3.85 | 52.14 | -8.78 | 74.62 | -1.71 | 104.03 | -0.38 | -4.03 | 0 | 33.53 | -2.46 | 10.03 | 16.22 |
| 2020 (7) | 3.38 | -0.29 | 50.31 | 4.18 | 32.97 | 7.64 | 21.95 | 0.1 | 31.58 | 4.6 | 25.00 | -0.12 | 11.84 | -2.15 | 6.84 | 17.93 | 0.26 | 18.18 | 57.16 | 1.71 | 75.92 | -15.85 | 104.42 | 2.9 | -4.42 | 0 | 34.38 | 5.21 | 8.63 | -5.58 |
| 2019 (6) | 3.39 | 43.04 | 48.29 | 14.76 | 30.63 | 23.56 | 21.92 | 1.35 | 30.19 | 26.21 | 25.03 | 39.06 | 12.10 | 53.16 | 5.80 | 40.78 | 0.22 | 10.0 | 56.20 | 9.83 | 90.22 | -42.96 | 101.49 | -2.04 | -1.49 | 0 | 32.68 | 30.43 | 9.14 | 5.91 |
| 2018 (5) | 2.37 | 0.0 | 42.08 | -4.01 | 24.79 | -0.2 | 21.63 | 1.04 | 23.92 | 4.55 | 18.00 | -6.3 | 7.90 | 4.36 | 4.12 | -9.25 | 0.20 | -4.76 | 51.17 | 1.75 | 158.16 | 85.37 | 103.60 | -4.42 | -3.60 | 0 | 25.05 | 0 | 8.63 | 2.62 |
| 2017 (4) | 2.37 | 0 | 43.84 | 132.7 | 24.84 | 0 | 21.41 | -2.71 | 22.88 | 0 | 19.21 | 0 | 7.57 | 0 | 4.54 | 0 | 0.21 | 10.53 | 50.29 | 253.66 | 85.32 | -12.1 | 108.39 | 52.48 | -8.62 | 0 | 0.00 | 0 | 8.41 | -32.88 |
| 2016 (3) | -1.25 | 0 | 18.84 | -57.63 | -10.74 | 0 | 22.01 | 88.69 | -15.11 | 0 | -16.26 | 0 | -5.61 | 0 | -2.38 | 0 | 0.19 | -5.0 | 14.22 | -63.54 | 97.06 | 36.8 | 71.08 | -16.4 | 28.92 | 93.13 | 0.00 | 0 | 12.53 | -5.93 |
| 2015 (2) | 2.33 | -37.03 | 44.47 | -18.37 | 18.03 | -40.14 | 11.66 | 47.36 | 21.20 | -52.93 | 16.16 | -56.81 | 5.49 | -36.09 | 3.70 | -31.61 | 0.20 | 42.86 | 39.00 | -32.47 | 70.95 | -5.46 | 85.03 | 26.94 | 14.97 | -54.65 | 0.00 | 0 | 13.32 | 1.37 |
| 2014 (1) | 3.70 | 22.11 | 54.48 | 0 | 30.12 | 0 | 7.91 | 20.48 | 45.04 | 0 | 37.42 | 0 | 8.59 | 0 | 5.41 | 0 | 0.14 | -33.33 | 57.75 | 13.04 | 75.05 | 20.12 | 66.98 | -12.95 | 33.02 | 43.21 | 0.00 | 0 | 13.14 | 3.14 |
