- 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) | 1.90 | 4.4 | -26.07 | 25.99 | -4.69 | 2.52 | 17.84 | 6.95 | -2.03 | 19.93 | -5.32 | -15.55 | 15.30 | 1.06 | -23.0 | 4.10 | 4.59 | -33.76 | 2.33 | 2.19 | -32.07 | 0.15 | 7.14 | -11.76 | 25.95 | -4.14 | -13.56 | 83.99 | 1.1 | 1.83 | 89.53 | 13.07 | 16.04 | 10.47 | -49.72 | -54.17 | 17.28 | -1.87 | 4.79 |
| 24Q2 (19) | 1.82 | 46.77 | 30.94 | 27.27 | 0.48 | 30.1 | 16.68 | -4.25 | 41.36 | 21.05 | -2.55 | 32.47 | 15.14 | 33.98 | 38.77 | 3.92 | 44.65 | 12.97 | 2.28 | 40.74 | 16.33 | 0.14 | 0.0 | -17.65 | 27.07 | -3.53 | 21.5 | 83.08 | 11.79 | -6.19 | 79.18 | -1.84 | 6.67 | 20.82 | 7.7 | -19.22 | 17.61 | -6.18 | -0.51 |
| 24Q1 (18) | 1.24 | -17.88 | -1.59 | 27.14 | 3.75 | 26.82 | 17.42 | -3.38 | 28.56 | 21.60 | 27.21 | 44.68 | 11.30 | -11.72 | 0.62 | 2.71 | -22.57 | -15.58 | 1.62 | -19.8 | -10.99 | 0.14 | -6.67 | -6.67 | 28.06 | 19.2 | 26.97 | 74.32 | -7.86 | -10.38 | 80.67 | -24.02 | -11.06 | 19.33 | 413.24 | 110.77 | 18.77 | 6.95 | 11.26 |
| 23Q4 (17) | 1.51 | -41.25 | 38.53 | 26.16 | 3.2 | 27.24 | 18.03 | -0.99 | 37.63 | 16.98 | -28.05 | 20.51 | 12.80 | -35.58 | 43.02 | 3.50 | -43.46 | 20.27 | 2.02 | -41.11 | 24.69 | 0.15 | -11.76 | -11.76 | 23.54 | -21.59 | 14.72 | 80.66 | -2.21 | -7.87 | 106.17 | 37.6 | 14.16 | -6.17 | -127.02 | -188.21 | 17.55 | 6.43 | 1.21 |
| 23Q3 (16) | 2.57 | 84.89 | 66.88 | 25.35 | 20.94 | 49.91 | 18.21 | 54.32 | 70.35 | 23.60 | 48.52 | 44.7 | 19.87 | 82.13 | 71.0 | 6.19 | 78.39 | 45.31 | 3.43 | 75.0 | 51.77 | 0.17 | 0.0 | -10.53 | 30.02 | 34.74 | 36.58 | 82.48 | -6.87 | -9.14 | 77.16 | 3.95 | 17.73 | 22.84 | -11.37 | -33.72 | 16.49 | -6.84 | 9.71 |
| 23Q2 (15) | 1.39 | 10.32 | 16.81 | 20.96 | -2.06 | 28.67 | 11.80 | -12.92 | 39.81 | 15.89 | 6.43 | 20.02 | 10.91 | -2.85 | 10.54 | 3.47 | 8.1 | 2.36 | 1.96 | 7.69 | 11.36 | 0.17 | 13.33 | 0.0 | 22.28 | 0.81 | 16.47 | 88.56 | 6.79 | -10.56 | 74.23 | -18.16 | 16.6 | 25.77 | 180.99 | -28.82 | 17.70 | 4.92 | 6.31 |
| 23Q1 (14) | 1.26 | 15.6 | -11.89 | 21.40 | 4.09 | 21.59 | 13.55 | 3.44 | 22.62 | 14.93 | 5.96 | 3.25 | 11.23 | 25.47 | 3.03 | 3.21 | 10.31 | -21.13 | 1.82 | 12.35 | -11.65 | 0.15 | -11.76 | -16.67 | 22.10 | 7.7 | 13.98 | 82.93 | -5.28 | -17.38 | 90.70 | -2.48 | 18.66 | 9.17 | 31.1 | -61.07 | 16.87 | -2.71 | 4.33 |
| 22Q4 (13) | 1.09 | -29.22 | -16.79 | 20.56 | 21.58 | 20.3 | 13.10 | 22.54 | 33.67 | 14.09 | -13.61 | 17.61 | 8.95 | -22.98 | -6.28 | 2.91 | -31.69 | -31.85 | 1.62 | -28.32 | -22.86 | 0.17 | -10.53 | -19.05 | 20.52 | -6.64 | 26.43 | 87.55 | -3.56 | -16.45 | 93.00 | 41.91 | 13.79 | 7.00 | -79.7 | -61.45 | 17.34 | 15.37 | 9.89 |
| 22Q3 (12) | 1.54 | 29.41 | -16.3 | 16.91 | 3.81 | -3.81 | 10.69 | 26.66 | -2.02 | 16.31 | 23.19 | 5.29 | 11.62 | 17.73 | -11.37 | 4.26 | 25.66 | -28.76 | 2.26 | 28.41 | -22.6 | 0.19 | 11.76 | -13.64 | 21.98 | 14.9 | 12.03 | 90.78 | -8.32 | -19.27 | 65.54 | 2.95 | -6.86 | 34.46 | -4.82 | 16.3 | 15.03 | -9.73 | -3.9 |
| 22Q2 (11) | 1.19 | -16.78 | -4.8 | 16.29 | -7.44 | -16.5 | 8.44 | -23.62 | -27.86 | 13.24 | -8.44 | 8.44 | 9.87 | -9.45 | 1.96 | 3.39 | -16.71 | -15.46 | 1.76 | -14.56 | -14.98 | 0.17 | -5.56 | -19.05 | 19.13 | -1.34 | 15.1 | 99.02 | -1.35 | -5.51 | 63.66 | -16.72 | -33.54 | 36.21 | 53.68 | 758.67 | 16.65 | 2.97 | 1.22 |
| 22Q1 (10) | 1.43 | 9.16 | 7.52 | 17.60 | 2.98 | -11.07 | 11.05 | 12.76 | -12.99 | 14.46 | 20.7 | 2.19 | 10.90 | 14.14 | 1.87 | 4.07 | -4.68 | -5.35 | 2.06 | -1.9 | -8.04 | 0.18 | -14.29 | -10.0 | 19.39 | 19.47 | 2.59 | 100.38 | -4.21 | 9.43 | 76.44 | -6.48 | -14.85 | 23.56 | 29.82 | 130.36 | 16.17 | 2.47 | 1.95 |
| 21Q4 (9) | 1.31 | -28.8 | 11.97 | 17.09 | -2.79 | -17.56 | 9.80 | -10.17 | -24.09 | 11.98 | -22.66 | -1.72 | 9.55 | -27.15 | 11.31 | 4.27 | -28.6 | 14.78 | 2.10 | -28.08 | 13.51 | 0.21 | -4.55 | 0.0 | 16.23 | -17.28 | -7.47 | 104.79 | -6.81 | 3.38 | 81.73 | 16.15 | -22.87 | 18.15 | -38.75 | 403.91 | 15.78 | 0.9 | -4.77 |
| 21Q3 (8) | 1.84 | 47.2 | 53.33 | 17.58 | -9.89 | -14.37 | 10.91 | -6.75 | 1.11 | 15.49 | 26.86 | 16.2 | 13.11 | 35.43 | 32.83 | 5.98 | 49.13 | 36.84 | 2.92 | 41.06 | 35.81 | 0.22 | 4.76 | 4.76 | 19.62 | 18.05 | 1.34 | 112.45 | 7.31 | -2.0 | 70.37 | -26.54 | -13.11 | 29.63 | 602.72 | 55.85 | 15.64 | -4.92 | -7.67 |
| 21Q2 (7) | 1.25 | -6.02 | 47.06 | 19.51 | -1.41 | -4.13 | 11.70 | -7.87 | 4.09 | 12.21 | -13.71 | 18.89 | 9.68 | -9.53 | 25.55 | 4.01 | -6.74 | 29.35 | 2.07 | -7.59 | 31.01 | 0.21 | 5.0 | 10.53 | 16.62 | -12.06 | -2.41 | 104.79 | 14.24 | -3.08 | 95.78 | 6.7 | -12.41 | 4.22 | -58.77 | 145.06 | 16.45 | 3.72 | 0 |
| 21Q1 (6) | 1.33 | 13.68 | 565.0 | 19.79 | -4.53 | 38.49 | 12.70 | -1.63 | 160.25 | 14.15 | 16.08 | 306.61 | 10.70 | 24.71 | 664.29 | 4.30 | 15.59 | 877.27 | 2.24 | 21.08 | 622.58 | 0.20 | -4.76 | 33.33 | 18.90 | 7.75 | 55.05 | 91.73 | -9.5 | -12.65 | 89.77 | -15.29 | -35.94 | 10.23 | 271.27 | 125.49 | 15.86 | -4.28 | -9.16 |
| 20Q4 (5) | 1.17 | -2.5 | 116.67 | 20.73 | 0.97 | 23.25 | 12.91 | 19.65 | 67.88 | 12.19 | -8.55 | 70.73 | 8.58 | -13.07 | 60.67 | 3.72 | -14.87 | 84.16 | 1.85 | -13.95 | 71.3 | 0.21 | 0.0 | 16.67 | 17.54 | -9.4 | 16.39 | 101.36 | -11.66 | -3.37 | 105.97 | 30.85 | -1.53 | -5.97 | -131.41 | 21.57 | 16.57 | -2.18 | -10.82 |
| 20Q3 (4) | 1.20 | 41.18 | 0.0 | 20.53 | 0.88 | 0.0 | 10.79 | -4.0 | 0.0 | 13.33 | 29.8 | 0.0 | 9.87 | 28.02 | 0.0 | 4.37 | 40.97 | 0.0 | 2.15 | 36.08 | 0.0 | 0.21 | 10.53 | 0.0 | 19.36 | 13.68 | 0.0 | 114.74 | 6.12 | 0.0 | 80.99 | -25.94 | 0.0 | 19.01 | 303.16 | 0.0 | 16.94 | 0 | 0.0 |
| 20Q2 (3) | 0.85 | 325.0 | 0.0 | 20.35 | 42.41 | 0.0 | 11.24 | 130.33 | 0.0 | 10.27 | 195.11 | 0.0 | 7.71 | 450.71 | 0.0 | 3.10 | 604.55 | 0.0 | 1.58 | 409.68 | 0.0 | 0.19 | 26.67 | 0.0 | 17.03 | 39.7 | 0.0 | 108.12 | 2.96 | 0.0 | 109.36 | -21.96 | 0.0 | -9.36 | 76.68 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.20 | -62.96 | 0.0 | 14.29 | -15.04 | 0.0 | 4.88 | -36.54 | 0.0 | 3.48 | -51.26 | 0.0 | 1.40 | -73.78 | 0.0 | 0.44 | -78.22 | 0.0 | 0.31 | -71.3 | 0.0 | 0.15 | -16.67 | 0.0 | 12.19 | -19.11 | 0.0 | 105.01 | 0.1 | 0.0 | 140.13 | 30.21 | 0.0 | -40.13 | -427.01 | 0.0 | 17.46 | -6.03 | 0.0 |
| 19Q4 (1) | 0.54 | 0.0 | 0.0 | 16.82 | 0.0 | 0.0 | 7.69 | 0.0 | 0.0 | 7.14 | 0.0 | 0.0 | 5.34 | 0.0 | 0.0 | 2.02 | 0.0 | 0.0 | 1.08 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 15.07 | 0.0 | 0.0 | 104.90 | 0.0 | 0.0 | 107.61 | 0.0 | 0.0 | -7.61 | 0.0 | 0.0 | 18.58 | 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) | 6.73 | 28.44 | 23.51 | 31.86 | 15.44 | 42.57 | 5.93 | 12.91 | 17.99 | 23.56 | 13.83 | 33.37 | 16.35 | 12.06 | 9.25 | 19.82 | 0.64 | -11.11 | 24.61 | 21.35 | 80.66 | -7.87 | 85.83 | 15.37 | 14.17 | -44.66 | 0.30 | -7.2 | 17.15 | 5.41 |
| 2022 (9) | 5.24 | -9.5 | 17.83 | -3.36 | 10.83 | -3.65 | 5.25 | 28.77 | 14.56 | 8.09 | 10.37 | -3.8 | 14.59 | -21.47 | 7.72 | -17.43 | 0.72 | -15.29 | 20.28 | 13.74 | 87.55 | -16.45 | 74.40 | -10.86 | 25.60 | 54.82 | 0.32 | 12.2 | 16.27 | 2.13 |
| 2021 (8) | 5.79 | 69.3 | 18.45 | -4.45 | 11.24 | 8.81 | 4.08 | -32.4 | 13.47 | 30.65 | 10.78 | 47.67 | 18.58 | 70.77 | 9.35 | 65.19 | 0.85 | 16.44 | 17.83 | 5.75 | 104.79 | 3.38 | 83.46 | -16.75 | 16.54 | 0 | 0.29 | -8.78 | 15.93 | -6.18 |
| 2020 (7) | 3.42 | 70.15 | 19.31 | 36.56 | 10.33 | 114.32 | 6.03 | -12.4 | 10.31 | 95.27 | 7.30 | 86.7 | 10.88 | 79.24 | 5.66 | 67.46 | 0.73 | 0.0 | 16.86 | 28.9 | 101.36 | -3.37 | 100.26 | 9.78 | -0.21 | 0 | 0.31 | -9.32 | 16.98 | -2.97 |
| 2019 (6) | 2.01 | 82.73 | 14.14 | 16.28 | 4.82 | 70.92 | 6.88 | 27.71 | 5.28 | 83.97 | 3.91 | 119.66 | 6.07 | 90.28 | 3.38 | 60.19 | 0.73 | -9.88 | 13.08 | 40.34 | 104.90 | -14.09 | 91.33 | -6.93 | 8.59 | 357.94 | 0.35 | -26.57 | 17.50 | 0.17 |
| 2018 (5) | 1.10 | 37.5 | 12.16 | -1.46 | 2.82 | -18.26 | 5.39 | 1.35 | 2.87 | -7.42 | 1.78 | -13.17 | 3.19 | -12.84 | 2.11 | -2.76 | 0.81 | 0.0 | 9.32 | 1.3 | 122.10 | -1.48 | 98.12 | -11.92 | 1.88 | 0 | 0.47 | 0 | 17.47 | -10.09 |
| 2017 (4) | 0.80 | -23.08 | 12.34 | 9.01 | 3.45 | 34.24 | 5.32 | 0.26 | 3.10 | 2.65 | 2.05 | -17.0 | 3.66 | -25.15 | 2.17 | -20.51 | 0.81 | -10.0 | 9.20 | 2.0 | 123.93 | 4.29 | 111.41 | 30.45 | -11.41 | 0 | 0.00 | 0 | 19.43 | 11.35 |
| 2016 (3) | 1.04 | 0 | 11.32 | 36.55 | 2.57 | 0 | 5.31 | -3.71 | 3.02 | 0 | 2.47 | 0 | 4.89 | 0 | 2.73 | 0 | 0.90 | 2.27 | 9.02 | 71.16 | 118.83 | -2.66 | 85.40 | -8.94 | 14.60 | 134.67 | 0.00 | 0 | 17.45 | 7.58 |
| 2015 (2) | -0.64 | 0 | 8.29 | 6.28 | -0.91 | 0 | 5.51 | 21.42 | -0.97 | 0 | -1.45 | 0 | -3.01 | 0 | -0.75 | 0 | 0.88 | -21.43 | 5.27 | -12.02 | 122.08 | -17.87 | 93.78 | 24.66 | 6.22 | -74.88 | 0.00 | 0 | 16.22 | 12.8 |
| 2014 (1) | 0.25 | 0 | 7.80 | 0 | 0.56 | 0 | 4.54 | 3.16 | 0.74 | 0 | 0.47 | 0 | 1.30 | 0 | 1.17 | 0 | 1.12 | -11.81 | 5.99 | 38.34 | 148.64 | -1.71 | 75.23 | 153.62 | 24.77 | -64.56 | 0.00 | 0 | 14.38 | 12.52 |
