- 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) | 1.33 | -28.49 | 49.44 | 42.59 | -5.42 | 11.06 | 21.59 | -15.53 | 50.35 | 20.84 | -24.47 | 11.68 | 16.38 | -23.49 | 10.75 | 3.79 | -29.68 | 43.56 | 2.93 | -29.23 | 42.93 | 0.18 | -5.26 | 28.57 | 22.88 | -22.28 | 6.82 | 20.92 | -45.85 | -0.81 | 103.49 | 11.89 | 34.99 | -3.49 | -148.47 | -115.41 | 18.29 | 10.11 | -15.21 |
| 24Q2 (19) | 1.86 | 19.23 | 75.47 | 45.03 | 4.75 | 18.78 | 25.56 | 17.46 | 54.53 | 27.59 | 1.28 | 32.58 | 21.41 | -0.14 | 35.85 | 5.39 | 19.78 | 76.14 | 4.14 | 10.99 | 71.78 | 0.19 | 11.76 | 26.67 | 29.44 | 0.07 | 23.23 | 38.63 | 75.35 | 4.24 | 92.49 | 16.04 | 16.83 | 7.21 | -64.48 | -64.52 | 16.61 | -8.03 | -11.27 |
| 24Q1 (18) | 1.56 | 30.0 | 321.62 | 42.99 | -2.67 | 29.72 | 21.76 | -6.04 | 173.37 | 27.24 | 34.92 | 237.97 | 21.44 | 31.7 | 252.63 | 4.50 | 28.57 | 383.87 | 3.73 | 28.18 | 378.21 | 0.17 | -5.56 | 30.77 | 29.42 | 30.7 | 143.54 | 22.03 | 11.6 | 19.15 | 79.71 | -30.34 | -18.98 | 20.29 | 235.94 | 1157.97 | 18.06 | -3.01 | -12.07 |
| 23Q4 (17) | 1.20 | 34.83 | 84.62 | 44.17 | 15.18 | 27.95 | 23.16 | 61.28 | 69.92 | 20.19 | 8.2 | 76.33 | 16.28 | 10.07 | 80.29 | 3.50 | 32.58 | 97.74 | 2.91 | 41.95 | 103.5 | 0.18 | 28.57 | 12.5 | 22.51 | 5.09 | 53.34 | 19.74 | -6.4 | -10.72 | 114.43 | 49.25 | -4.5 | -14.93 | -165.85 | 21.11 | 18.62 | -13.68 | 1.75 |
| 23Q3 (16) | 0.89 | -16.04 | -59.91 | 38.35 | 1.16 | 1.08 | 14.36 | -13.18 | -33.4 | 18.66 | -10.33 | -27.79 | 14.79 | -6.15 | -32.8 | 2.64 | -13.73 | -59.76 | 2.05 | -14.94 | -58.67 | 0.14 | -6.67 | -39.13 | 21.42 | -10.34 | -23.77 | 21.09 | -43.09 | -21.1 | 76.67 | -3.16 | -8.25 | 22.67 | 11.59 | 35.63 | 21.57 | 15.22 | 52.44 |
| 23Q2 (15) | 1.06 | 186.49 | -57.43 | 37.91 | 14.39 | 2.71 | 16.54 | 107.79 | -30.45 | 20.81 | 158.19 | -17.58 | 15.76 | 159.21 | -25.87 | 3.06 | 229.03 | -58.93 | 2.41 | 208.97 | -56.96 | 0.15 | 15.38 | -42.31 | 23.89 | 97.76 | -12.2 | 37.06 | 100.43 | -3.51 | 79.17 | -19.54 | -15.97 | 20.31 | 1159.38 | 251.24 | 18.72 | -8.86 | 60.69 |
| 23Q1 (14) | 0.37 | -43.08 | -80.73 | 33.14 | -4.0 | -0.42 | 7.96 | -41.6 | -56.72 | 8.06 | -29.61 | -61.38 | 6.08 | -32.67 | -66.15 | 0.93 | -47.46 | -83.68 | 0.78 | -45.45 | -82.15 | 0.13 | -18.75 | -45.83 | 12.08 | -17.71 | -48.04 | 18.49 | -16.37 | -34.29 | 98.39 | -17.89 | 11.84 | 1.61 | 108.53 | -86.59 | 20.54 | 12.24 | 57.27 |
| 22Q4 (13) | 0.65 | -70.72 | -62.21 | 34.52 | -9.01 | 9.21 | 13.63 | -36.78 | -18.63 | 11.45 | -55.69 | -31.19 | 9.03 | -58.97 | -39.03 | 1.77 | -73.02 | -66.79 | 1.43 | -71.17 | -64.07 | 0.16 | -30.43 | -40.74 | 14.68 | -47.76 | -22.49 | 22.11 | -17.28 | -33.52 | 119.82 | 43.39 | 19.39 | -18.92 | -213.2 | -2520.27 | 18.30 | 29.33 | 44.89 |
| 22Q3 (12) | 2.22 | -10.84 | 58.57 | 37.94 | 2.79 | 12.55 | 21.56 | -9.34 | 21.33 | 25.84 | 2.34 | 45.5 | 22.01 | 3.53 | 53.7 | 6.56 | -11.95 | 49.77 | 4.96 | -11.43 | 48.95 | 0.23 | -11.54 | 0.0 | 28.10 | 3.27 | 37.07 | 26.73 | -30.41 | -24.26 | 83.56 | -11.31 | -16.44 | 16.71 | 188.98 | 0 | 14.15 | 21.46 | 2.61 |
| 22Q2 (11) | 2.49 | 29.69 | 137.14 | 36.91 | 10.91 | 10.31 | 23.78 | 29.31 | 53.02 | 25.25 | 20.99 | 63.01 | 21.26 | 18.37 | 64.04 | 7.45 | 30.7 | 134.28 | 5.60 | 28.15 | 123.11 | 0.26 | 8.33 | 36.84 | 27.21 | 17.03 | 43.89 | 38.41 | 36.5 | 36.5 | 94.22 | 7.1 | -5.78 | 5.78 | -51.91 | 1152.53 | 11.65 | -10.8 | -21.39 |
| 22Q1 (10) | 1.92 | 11.63 | 220.0 | 33.28 | 5.28 | 0.88 | 18.39 | 9.79 | 58.67 | 20.87 | 25.42 | 74.94 | 17.96 | 21.27 | 87.87 | 5.70 | 6.94 | 203.19 | 4.37 | 9.8 | 185.62 | 0.24 | -11.11 | 50.0 | 23.25 | 22.76 | 39.98 | 28.14 | -15.39 | 11.49 | 87.97 | -12.34 | -9.54 | 12.03 | 1765.51 | 336.92 | 13.06 | 3.4 | -25.33 |
| 21Q4 (9) | 1.72 | 22.86 | 129.33 | 31.61 | -6.23 | -1.68 | 16.75 | -5.74 | 38.43 | 16.64 | -6.31 | 41.02 | 14.81 | 3.42 | 40.38 | 5.33 | 21.69 | 123.95 | 3.98 | 19.52 | 105.15 | 0.27 | 17.39 | 50.0 | 18.94 | -7.61 | 16.91 | 33.26 | -5.75 | 55.93 | 100.36 | 0.36 | -2.07 | -0.72 | 0 | 70.88 | 12.63 | -8.41 | -17.4 |
| 21Q3 (8) | 1.40 | 33.33 | 19.66 | 33.71 | 0.75 | -0.79 | 17.77 | 14.35 | 8.69 | 17.76 | 14.65 | -7.31 | 14.32 | 10.49 | -5.1 | 4.38 | 37.74 | 6.57 | 3.33 | 32.67 | 5.38 | 0.23 | 21.05 | 9.52 | 20.50 | 8.41 | -9.41 | 35.29 | 25.41 | 46.86 | 100.00 | 0.0 | 16.75 | 0.00 | 100.0 | -100.0 | 13.79 | -6.95 | -7.76 |
| 21Q2 (7) | 1.05 | 75.0 | 36.36 | 33.46 | 1.42 | -4.89 | 15.54 | 34.08 | 0.32 | 15.49 | 29.84 | 6.39 | 12.96 | 35.56 | 14.79 | 3.18 | 69.15 | 36.48 | 2.51 | 64.05 | 40.22 | 0.19 | 18.75 | 18.75 | 18.91 | 13.85 | 0.37 | 28.14 | 11.49 | -24.42 | 100.00 | 2.83 | -6.12 | -0.55 | -119.96 | 91.58 | 14.82 | -15.27 | -4.33 |
| 21Q1 (6) | 0.60 | -20.0 | -58.04 | 32.99 | 2.61 | -12.07 | 11.59 | -4.21 | -37.72 | 11.93 | 1.1 | -40.14 | 9.56 | -9.38 | -40.29 | 1.88 | -21.01 | -55.24 | 1.53 | -21.13 | -55.13 | 0.16 | -11.11 | -23.81 | 16.61 | 2.53 | -29.29 | 25.24 | 18.33 | 3.32 | 97.25 | -5.11 | 3.9 | 2.75 | 211.01 | -59.53 | 17.49 | 14.39 | 21.04 |
| 20Q4 (5) | 0.75 | -35.9 | -31.82 | 32.15 | -5.39 | -11.92 | 12.10 | -25.99 | -30.3 | 11.80 | -38.41 | -17.37 | 10.55 | -30.09 | -10.74 | 2.38 | -42.09 | -26.54 | 1.94 | -38.61 | -25.95 | 0.18 | -14.29 | -18.18 | 16.20 | -28.41 | -12.81 | 21.33 | -11.24 | -4.69 | 102.48 | 19.65 | -15.69 | -2.48 | -116.77 | 88.49 | 15.29 | 2.27 | 8.21 |
| 20Q3 (4) | 1.17 | 51.95 | 0.0 | 33.98 | -3.41 | 0.0 | 16.35 | 5.55 | 0.0 | 19.16 | 31.59 | 0.0 | 15.09 | 33.66 | 0.0 | 4.11 | 76.39 | 0.0 | 3.16 | 76.54 | 0.0 | 0.21 | 31.25 | 0.0 | 22.63 | 20.12 | 0.0 | 24.03 | -35.46 | 0.0 | 85.65 | -19.59 | 0.0 | 14.78 | 326.67 | 0.0 | 14.95 | -3.49 | 0.0 |
| 20Q2 (3) | 0.77 | -46.15 | 0.0 | 35.18 | -6.24 | 0.0 | 15.49 | -16.77 | 0.0 | 14.56 | -26.94 | 0.0 | 11.29 | -29.48 | 0.0 | 2.33 | -44.52 | 0.0 | 1.79 | -47.51 | 0.0 | 0.16 | -23.81 | 0.0 | 18.84 | -19.8 | 0.0 | 37.23 | 52.39 | 0.0 | 106.52 | 13.81 | 0.0 | -6.52 | -195.91 | 0.0 | 15.49 | 7.2 | 0.0 |
| 20Q1 (2) | 1.43 | 30.0 | 0.0 | 37.52 | 2.79 | 0.0 | 18.61 | 7.2 | 0.0 | 19.93 | 39.57 | 0.0 | 16.01 | 35.45 | 0.0 | 4.20 | 29.63 | 0.0 | 3.41 | 30.15 | 0.0 | 0.21 | -4.55 | 0.0 | 23.49 | 26.43 | 0.0 | 24.43 | 9.16 | 0.0 | 93.60 | -22.99 | 0.0 | 6.80 | 131.56 | 0.0 | 14.45 | 2.26 | 0.0 |
| 19Q4 (1) | 1.10 | 0.0 | 0.0 | 36.50 | 0.0 | 0.0 | 17.36 | 0.0 | 0.0 | 14.28 | 0.0 | 0.0 | 11.82 | 0.0 | 0.0 | 3.24 | 0.0 | 0.0 | 2.62 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 18.58 | 0.0 | 0.0 | 22.38 | 0.0 | 0.0 | 121.55 | 0.0 | 0.0 | -21.55 | 0.0 | 0.0 | 14.13 | 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) | 3.51 | -51.85 | 38.74 | 8.33 | 16.03 | -19.69 | 2.29 | 46.16 | 17.33 | -20.43 | 13.55 | -26.36 | 9.74 | -53.49 | 8.07 | -50.88 | 0.59 | -33.71 | 20.33 | -15.75 | 19.74 | -10.72 | 92.55 | 0.99 | 7.45 | -10.89 | 3.57 | 7.4 | 19.75 | 42.7 |
| 2022 (9) | 7.29 | 52.83 | 35.76 | 8.86 | 19.96 | 25.93 | 1.57 | -29.25 | 21.78 | 37.33 | 18.40 | 38.03 | 20.94 | 41.68 | 16.43 | 41.27 | 0.89 | 2.3 | 24.13 | 27.27 | 22.11 | -33.52 | 91.64 | -8.36 | 8.36 | 0 | 3.32 | -21.97 | 13.84 | -3.22 |
| 2021 (8) | 4.77 | 15.78 | 32.85 | -5.66 | 15.85 | 0.19 | 2.22 | -19.41 | 15.86 | -4.97 | 13.33 | -1.19 | 14.78 | 15.02 | 11.63 | 10.03 | 0.87 | 11.54 | 18.96 | -7.96 | 33.26 | 55.93 | 100.00 | 5.56 | 0.00 | 0 | 4.26 | -20.9 | 14.30 | -4.67 |
| 2020 (7) | 4.12 | -20.0 | 34.82 | -0.71 | 15.82 | -7.32 | 2.75 | 23.27 | 16.69 | 0.79 | 13.49 | -0.44 | 12.85 | -16.56 | 10.57 | -15.71 | 0.78 | -15.22 | 20.60 | 0.1 | 21.33 | -4.69 | 94.73 | -8.08 | 5.27 | 0 | 5.38 | -11.57 | 15.00 | 10.54 |
| 2019 (6) | 5.15 | -8.04 | 35.07 | 19.61 | 17.07 | 23.7 | 2.23 | 57.73 | 16.56 | 18.29 | 13.55 | 12.35 | 15.40 | -10.26 | 12.54 | -6.49 | 0.92 | -17.12 | 20.58 | 21.85 | 22.38 | -6.67 | 103.06 | 4.65 | -3.06 | 0 | 6.09 | -19.3 | 13.57 | 24.27 |
| 2018 (5) | 5.60 | 10.67 | 29.32 | -0.98 | 13.80 | -3.02 | 1.42 | -0.08 | 14.00 | 10.5 | 12.06 | 8.26 | 17.16 | 10.35 | 13.41 | 11.84 | 1.11 | 3.74 | 16.89 | 8.48 | 23.98 | -27.02 | 98.48 | -12.28 | 1.41 | 0 | 7.54 | 0 | 10.92 | -3.19 |
| 2017 (4) | 5.06 | -15.95 | 29.61 | -11.9 | 14.23 | -18.41 | 1.42 | -17.72 | 12.67 | -28.86 | 11.14 | -28.04 | 15.55 | -13.08 | 11.99 | -16.39 | 1.07 | 15.05 | 15.57 | -25.64 | 32.86 | 18.33 | 112.26 | 14.66 | -12.26 | 0 | 0.00 | 0 | 11.28 | -8.52 |
| 2016 (3) | 6.02 | -14.25 | 33.61 | -2.32 | 17.44 | -19.45 | 1.72 | -5.52 | 17.81 | -22.87 | 15.48 | -22.6 | 17.89 | -22.69 | 14.34 | -22.44 | 0.93 | 1.09 | 20.94 | -19.15 | 27.77 | 25.71 | 97.91 | 4.41 | 2.09 | -66.39 | 0.00 | 0 | 12.33 | 13.64 |
| 2015 (2) | 7.02 | -3.17 | 34.41 | 7.16 | 21.65 | 0.6 | 1.82 | -0.54 | 23.09 | -0.77 | 20.00 | -1.57 | 23.14 | -4.77 | 18.49 | -2.27 | 0.92 | -1.08 | 25.90 | 2.21 | 22.09 | -23.91 | 93.77 | 1.39 | 6.23 | -17.07 | 0.00 | 0 | 10.85 | 13.85 |
| 2014 (1) | 7.25 | -1.76 | 32.11 | 0 | 21.52 | 0 | 1.83 | -10.26 | 23.27 | 0 | 20.32 | 0 | 24.30 | 0 | 18.92 | 0 | 0.93 | 6.9 | 25.34 | -6.36 | 29.03 | -0.89 | 92.49 | 2.26 | 7.51 | -21.37 | 0.00 | 0 | 9.53 | -1.95 |
