- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q1 (20) | 1.94 | 45.86 | 130.95 | 33.02 | 4.76 | 38.97 | 17.40 | 4.07 | 87.3 | 20.75 | 32.0 | 56.13 | 17.33 | 44.42 | 80.15 | 7.49 | 44.87 | 118.37 | 4.67 | 36.55 | 104.82 | 0.26 | -7.14 | 8.33 | 23.63 | 27.04 | 47.32 | 73.03 | 36.05 | 28.85 | 83.99 | -20.79 | 19.74 | 16.01 | 347.67 | -46.37 | 13.49 | -19.61 | -7.98 |
| 23Q4 (19) | 1.33 | -9.52 | 269.44 | 31.52 | 0.9 | 35.92 | 16.72 | 18.83 | 120.0 | 15.72 | -7.8 | 147.95 | 12.00 | -14.95 | 187.77 | 5.17 | -11.93 | 233.55 | 3.42 | -12.31 | 219.63 | 0.28 | 3.7 | 12.0 | 18.60 | -9.36 | 96.41 | 53.68 | -8.11 | 17.38 | 106.03 | 28.6 | -11.84 | -6.47 | -136.85 | 68.1 | 16.78 | 2.07 | -7.24 |
| 23Q3 (18) | 1.47 | -6.37 | -17.88 | 31.24 | 12.33 | 19.74 | 14.07 | 41.69 | 45.35 | 17.05 | -12.07 | -22.64 | 14.11 | -21.04 | -25.97 | 5.87 | -7.27 | -19.92 | 3.90 | -5.34 | -18.92 | 0.27 | 17.39 | 8.0 | 20.52 | -5.87 | -17.92 | 58.42 | 14.98 | 17.78 | 82.46 | 60.24 | 87.73 | 17.54 | -64.22 | -68.72 | 16.44 | -10.41 | 1.61 |
| 23Q2 (17) | 1.57 | 86.9 | 42.73 | 27.81 | 17.05 | 4.35 | 9.93 | 6.89 | -1.97 | 19.39 | 45.9 | 23.35 | 17.87 | 85.76 | 44.0 | 6.33 | 84.55 | 35.55 | 4.12 | 80.7 | 38.72 | 0.23 | -4.17 | -4.17 | 21.80 | 35.91 | 13.78 | 50.81 | -10.36 | -9.82 | 51.46 | -26.64 | -20.22 | 49.03 | 64.19 | 38.1 | 18.35 | 25.17 | 2.92 |
| 23Q1 (16) | 0.84 | 133.33 | 147.06 | 23.76 | 2.46 | -7.4 | 9.29 | 22.24 | 27.09 | 13.29 | 109.62 | 164.74 | 9.62 | 130.7 | 110.5 | 3.43 | 121.29 | 138.19 | 2.28 | 113.08 | 137.5 | 0.24 | -4.0 | 14.29 | 16.04 | 69.38 | 90.05 | 56.68 | 23.94 | -4.72 | 70.14 | -41.68 | -51.52 | 29.86 | 247.31 | 166.83 | 14.66 | -18.96 | -25.05 |
| 22Q4 (15) | 0.36 | -79.89 | -60.44 | 23.19 | -11.12 | -14.11 | 7.60 | -21.49 | -30.34 | 6.34 | -71.23 | -51.82 | 4.17 | -78.12 | -62.09 | 1.55 | -78.85 | -59.53 | 1.07 | -77.75 | -59.47 | 0.25 | 0.0 | 4.17 | 9.47 | -62.12 | -41.03 | 45.73 | -7.8 | 4.29 | 120.27 | 173.83 | 45.59 | -20.27 | -136.15 | -216.55 | 18.09 | 11.8 | -7.42 |
| 22Q3 (14) | 1.79 | 62.73 | 115.66 | 26.09 | -2.1 | -8.3 | 9.68 | -4.44 | 3.42 | 22.04 | 40.2 | 88.86 | 19.06 | 53.59 | 92.14 | 7.33 | 56.96 | 102.49 | 4.81 | 61.95 | 101.26 | 0.25 | 4.17 | 4.17 | 25.00 | 30.48 | 62.76 | 49.60 | -11.96 | 3.12 | 43.92 | -31.9 | -45.32 | 56.08 | 57.95 | 185.07 | 16.18 | -9.25 | -15.55 |
| 22Q2 (13) | 1.10 | 223.53 | 30.95 | 26.65 | 3.86 | -3.27 | 10.13 | 38.58 | 1.4 | 15.72 | 213.15 | 14.24 | 12.41 | 171.55 | 12.41 | 4.67 | 224.31 | 24.87 | 2.97 | 209.38 | 24.27 | 0.24 | 14.29 | 9.09 | 19.16 | 127.01 | 15.08 | 56.34 | -5.3 | -0.51 | 64.50 | -55.42 | -10.8 | 35.50 | 179.46 | 28.21 | 17.83 | -8.84 | -14.28 |
| 22Q1 (12) | 0.34 | -62.64 | -29.17 | 25.66 | -4.96 | 0.23 | 7.31 | -33.0 | 15.3 | 5.02 | -61.85 | -45.73 | 4.57 | -58.45 | -38.82 | 1.44 | -62.4 | -32.39 | 0.96 | -63.64 | -31.43 | 0.21 | -12.5 | 16.67 | 8.44 | -47.45 | -34.73 | 59.49 | 35.67 | 3.59 | 144.68 | 75.14 | 110.2 | -44.68 | -356.91 | -243.35 | 19.56 | 0.1 | 2.03 |
| 21Q4 (11) | 0.91 | 9.64 | 145.95 | 27.00 | -5.1 | 19.05 | 10.91 | 16.56 | 3.12 | 13.16 | 12.77 | 89.35 | 11.00 | 10.89 | 120.88 | 3.83 | 5.8 | 130.72 | 2.64 | 10.46 | 140.0 | 0.24 | 0.0 | 14.29 | 16.06 | 4.56 | 61.24 | 43.85 | -8.84 | -19.5 | 82.61 | 2.84 | -45.45 | 17.39 | -11.59 | 133.82 | 19.54 | 1.98 | 18.64 |
| 21Q3 (10) | 0.83 | -1.19 | 76.6 | 28.45 | 3.27 | 7.08 | 9.36 | -6.31 | -12.93 | 11.67 | -15.19 | 52.55 | 9.92 | -10.14 | 67.57 | 3.62 | -3.21 | 75.73 | 2.39 | 0.0 | 77.04 | 0.24 | 9.09 | 9.09 | 15.36 | -7.75 | 45.45 | 48.10 | -15.06 | -15.32 | 80.33 | 11.09 | -42.52 | 19.67 | -28.96 | 149.5 | 19.16 | -7.88 | 24.58 |
| 21Q2 (9) | 0.84 | 75.0 | -24.32 | 27.55 | 7.62 | -12.29 | 9.99 | 57.57 | -33.44 | 13.76 | 48.76 | -11.79 | 11.04 | 47.79 | -24.59 | 3.74 | 75.59 | -22.57 | 2.39 | 70.71 | -24.84 | 0.22 | 22.22 | 0.0 | 16.65 | 28.77 | -10.87 | 56.63 | -1.39 | -1.12 | 72.31 | 5.05 | -24.55 | 27.69 | -11.15 | 697.54 | 20.80 | 8.5 | 0 |
| 21Q1 (8) | 0.48 | 29.73 | 152.63 | 25.60 | 12.87 | 0.43 | 6.34 | -40.08 | 51.31 | 9.25 | 33.09 | 48.71 | 7.47 | 50.0 | 87.69 | 2.13 | 28.31 | 142.05 | 1.40 | 27.27 | 122.22 | 0.18 | -14.29 | 20.0 | 12.93 | 29.82 | 22.44 | 57.43 | 5.43 | 16.85 | 68.83 | -54.55 | 1.97 | 31.17 | 160.61 | -4.1 | 19.17 | 16.39 | 0 |
| 20Q4 (7) | 0.37 | -21.28 | 60.87 | 22.68 | -14.64 | 0.84 | 10.58 | -1.58 | 63.78 | 6.95 | -9.15 | 131.67 | 4.98 | -15.88 | 110.13 | 1.66 | -19.42 | 133.8 | 1.10 | -18.52 | 107.55 | 0.21 | -4.55 | 0.0 | 9.96 | -5.68 | 61.69 | 54.47 | -4.1 | 45.37 | 151.43 | 8.36 | -29.33 | -51.43 | -29.4 | 55.0 | 16.47 | 7.09 | 0 |
| 20Q3 (6) | 0.47 | -57.66 | -56.07 | 26.57 | -15.41 | 8.76 | 10.75 | -28.38 | 40.89 | 7.65 | -50.96 | -47.31 | 5.92 | -59.56 | -51.11 | 2.06 | -57.35 | -50.12 | 1.35 | -57.55 | -53.12 | 0.22 | 0.0 | -4.35 | 10.56 | -43.47 | -41.63 | 56.80 | -0.82 | 34.34 | 139.74 | 45.82 | 165.34 | -39.74 | -1244.62 | -183.97 | 15.38 | 0 | -22.83 |
| 20Q2 (5) | 1.11 | 484.21 | 26.14 | 31.41 | 23.22 | 29.47 | 15.01 | 258.23 | 130.21 | 15.60 | 150.8 | 31.98 | 14.64 | 267.84 | 32.25 | 4.83 | 448.86 | 49.07 | 3.18 | 404.76 | 38.86 | 0.22 | 46.67 | 10.0 | 18.68 | 76.89 | 19.44 | 57.27 | 16.52 | 16.69 | 95.83 | 41.98 | 75.14 | 3.47 | -89.32 | -92.17 | 0.00 | 0 | -100.0 |
| 20Q1 (4) | 0.19 | -17.39 | 0.0 | 25.49 | 13.34 | 0.0 | 4.19 | -35.14 | 0.0 | 6.22 | 107.33 | 0.0 | 3.98 | 67.93 | 0.0 | 0.88 | 23.94 | 0.0 | 0.63 | 18.87 | 0.0 | 0.15 | -28.57 | 0.0 | 10.56 | 71.43 | 0.0 | 49.15 | 31.17 | 0.0 | 67.50 | -68.5 | 0.0 | 32.50 | 128.44 | 0.0 | 0.00 | 0 | 0.0 |
| 19Q4 (3) | 0.23 | -78.5 | 0.0 | 22.49 | -7.94 | 0.0 | 6.46 | -15.33 | 0.0 | 3.00 | -79.34 | 0.0 | 2.37 | -80.43 | 0.0 | 0.71 | -82.81 | 0.0 | 0.53 | -81.6 | 0.0 | 0.21 | -8.7 | 0.0 | 6.16 | -65.95 | 0.0 | 37.47 | -11.38 | 0.0 | 214.29 | 306.87 | 0.0 | -114.29 | -341.45 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (2) | 1.07 | 21.59 | 0.0 | 24.43 | 0.7 | 0.0 | 7.63 | 17.02 | 0.0 | 14.52 | 22.84 | 0.0 | 12.11 | 9.39 | 0.0 | 4.13 | 27.47 | 0.0 | 2.88 | 25.76 | 0.0 | 0.23 | 15.0 | 0.0 | 18.09 | 15.66 | 0.0 | 42.28 | -13.85 | 0.0 | 52.67 | -3.75 | 0.0 | 47.33 | 6.75 | 0.0 | 19.93 | -0.75 | 0.0 |
| 19Q2 (1) | 0.88 | 0.0 | 0.0 | 24.26 | 0.0 | 0.0 | 6.52 | 0.0 | 0.0 | 11.82 | 0.0 | 0.0 | 11.07 | 0.0 | 0.0 | 3.24 | 0.0 | 0.0 | 2.29 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 15.64 | 0.0 | 0.0 | 49.08 | 0.0 | 0.0 | 54.72 | 0.0 | 0.0 | 44.34 | 0.0 | 0.0 | 20.08 | 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) | 5.20 | 44.44 | 28.95 | 14.2 | 12.92 | 48.17 | 2.26 | -21.02 | 16.33 | 30.02 | 13.31 | 29.73 | 19.88 | 39.7 | 13.48 | 36.3 | 1.00 | 4.17 | 19.25 | 21.91 | 53.68 | 17.38 | 79.14 | 14.1 | 20.86 | -31.91 | 10.10 | 389.7 | 16.56 | -7.12 |
| 2022 (9) | 3.60 | 17.65 | 25.35 | -6.87 | 8.72 | -6.03 | 2.86 | -2.2 | 12.56 | 4.15 | 10.26 | 3.01 | 14.23 | 14.11 | 9.89 | 17.32 | 0.96 | 14.29 | 15.79 | 3.0 | 45.73 | 4.29 | 69.36 | -9.97 | 30.64 | 32.22 | 2.06 | -2.08 | 17.83 | -9.31 |
| 2021 (8) | 3.06 | 43.66 | 27.22 | 2.6 | 9.28 | -12.62 | 2.92 | 2.65 | 12.06 | 30.52 | 9.96 | 31.92 | 12.47 | 42.84 | 8.43 | 38.2 | 0.84 | 6.33 | 15.33 | 22.64 | 43.85 | -19.5 | 77.04 | -32.9 | 23.18 | 0 | 2.11 | 4.26 | 19.66 | 12.86 |
| 2020 (7) | 2.13 | -11.25 | 26.53 | 14.6 | 10.62 | 75.83 | 2.85 | -6.6 | 9.24 | 7.94 | 7.55 | 3.85 | 8.73 | 0.81 | 6.10 | -1.29 | 0.79 | -4.82 | 12.50 | 2.97 | 54.47 | 45.37 | 114.80 | 62.73 | -14.80 | 0 | 2.02 | -7.87 | 17.42 | -9.6 |
| 2019 (6) | 2.40 | 10.09 | 23.15 | 25.54 | 6.04 | 51.38 | 3.05 | 22.13 | 8.56 | -14.49 | 7.27 | -8.67 | 8.66 | -3.35 | 6.18 | -2.06 | 0.83 | 6.41 | 12.14 | -10.34 | 37.47 | -24.04 | 70.55 | 77.14 | 29.45 | -51.06 | 2.19 | 30.53 | 19.27 | -6.91 |
| 2018 (5) | 2.18 | 19.78 | 18.44 | 3.77 | 3.99 | -46.01 | 2.50 | 4.24 | 10.01 | 21.92 | 7.96 | 16.72 | 8.96 | 9.27 | 6.31 | 5.87 | 0.78 | -10.34 | 13.54 | 14.75 | 49.33 | 28.83 | 39.83 | -55.73 | 60.17 | 499.95 | 1.68 | 0 | 20.70 | 15.19 |
| 2017 (4) | 1.82 | -24.17 | 17.77 | -10.88 | 7.39 | -4.4 | 2.39 | -4.41 | 8.21 | -16.82 | 6.82 | -18.03 | 8.20 | -27.43 | 5.96 | -28.19 | 0.87 | -13.0 | 11.80 | -11.74 | 38.29 | 1.75 | 89.97 | 14.87 | 10.03 | -53.73 | 0.00 | 0 | 17.97 | -8.5 |
| 2016 (3) | 2.40 | 56.86 | 19.94 | 9.92 | 7.73 | 106.68 | 2.50 | -1.15 | 9.87 | 58.94 | 8.32 | 62.82 | 11.30 | 62.82 | 8.30 | 61.17 | 1.00 | -0.99 | 13.37 | 37.41 | 37.63 | 8.1 | 78.32 | 30.13 | 21.68 | -45.55 | 0.00 | 0 | 19.64 | -10.85 |
| 2015 (2) | 1.53 | -14.53 | 18.14 | -15.43 | 3.74 | -35.52 | 2.53 | -1.27 | 6.21 | -22.86 | 5.11 | -23.85 | 6.94 | -14.64 | 5.15 | -13.01 | 1.01 | 16.09 | 9.73 | -18.58 | 34.81 | 0.43 | 60.19 | -16.54 | 39.81 | 42.79 | 0.00 | 0 | 22.03 | 2.75 |
| 2014 (1) | 1.79 | 84.54 | 21.45 | 0 | 5.80 | 0 | 2.57 | -11.68 | 8.05 | 0 | 6.71 | 0 | 8.13 | 0 | 5.92 | 0 | 0.87 | 1.16 | 11.95 | 29.19 | 34.66 | -22.23 | 72.12 | -16.25 | 27.88 | 94.27 | 0.00 | 0 | 21.44 | 6.14 |
