- 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) | 6.89 | 19.62 | 57.31 | 56.69 | 4.34 | 18.62 | 27.30 | 9.33 | 46.3 | 28.28 | -1.08 | 20.34 | 23.79 | 4.89 | 24.29 | 7.70 | 16.31 | 32.76 | 4.71 | 12.68 | 32.68 | 0.20 | 11.11 | 11.11 | 33.68 | -2.55 | 11.97 | 64.07 | -4.54 | 3.11 | 96.50 | 10.38 | 21.47 | 3.50 | -72.5 | -82.98 | 36.76 | 1.35 | 61.51 |
| 24Q2 (19) | 5.76 | 37.8 | 58.24 | 54.33 | 8.4 | 11.79 | 24.97 | 32.12 | 28.91 | 28.59 | 21.3 | 41.89 | 22.68 | 18.13 | 33.1 | 6.62 | 32.14 | 34.55 | 4.18 | 29.81 | 34.41 | 0.18 | 12.5 | 0.0 | 34.56 | 13.91 | 26.27 | 67.12 | 26.36 | -3.98 | 87.43 | 8.89 | -8.99 | 12.72 | -36.14 | 222.75 | 36.27 | -7.05 | 0.28 |
| 24Q1 (18) | 4.18 | 43.15 | 40.27 | 50.12 | 5.34 | 5.89 | 18.90 | 17.61 | 3.22 | 23.57 | 53.55 | 26.11 | 19.20 | 53.48 | 22.45 | 5.01 | 35.04 | 26.2 | 3.22 | 38.79 | 23.85 | 0.16 | -11.11 | 0.0 | 30.34 | 39.37 | 15.67 | 53.12 | -16.0 | 1.94 | 80.29 | -23.35 | -18.24 | 19.92 | 519.5 | 847.48 | 39.02 | -18.25 | -2.13 |
| 23Q4 (17) | 2.92 | -33.33 | 14.06 | 47.58 | -0.44 | 2.68 | 16.07 | -13.88 | 10.45 | 15.35 | -34.68 | 8.56 | 12.51 | -34.64 | -0.79 | 3.71 | -36.03 | 5.1 | 2.32 | -34.65 | 2.65 | 0.18 | 0.0 | 0.0 | 21.77 | -27.63 | 2.59 | 63.24 | 1.77 | 8.75 | 104.75 | 31.85 | 2.09 | -4.75 | -123.1 | -59.64 | 47.73 | 109.71 | 39.52 |
| 23Q3 (16) | 4.38 | 20.33 | 12.89 | 47.79 | -1.67 | 2.82 | 18.66 | -3.67 | 4.42 | 23.50 | 16.63 | 5.05 | 19.14 | 12.32 | 1.54 | 5.80 | 17.89 | 2.84 | 3.55 | 14.15 | 0.57 | 0.18 | 0.0 | -5.26 | 30.08 | 9.9 | 2.17 | 62.14 | -11.1 | 8.01 | 79.45 | -17.29 | -0.58 | 20.55 | 421.54 | 2.29 | 22.76 | -37.07 | -36.88 |
| 23Q2 (15) | 3.64 | 22.15 | 13.4 | 48.60 | 2.68 | 8.68 | 19.37 | 5.79 | 11.45 | 20.15 | 7.81 | 1.92 | 17.04 | 8.67 | 6.43 | 4.92 | 23.93 | 3.36 | 3.11 | 19.62 | 4.36 | 0.18 | 12.5 | 0.0 | 27.37 | 4.35 | 2.13 | 69.90 | 34.14 | 6.8 | 96.06 | -2.18 | 9.28 | 3.94 | 87.47 | -67.42 | 36.17 | -9.28 | -4.16 |
| 23Q1 (14) | 2.98 | 16.41 | -8.31 | 47.33 | 2.14 | 3.61 | 18.31 | 25.84 | 7.45 | 18.69 | 32.18 | -12.38 | 15.68 | 24.35 | -11.91 | 3.97 | 12.46 | -19.47 | 2.60 | 15.04 | -16.13 | 0.16 | -11.11 | -5.88 | 26.23 | 23.61 | -9.96 | 52.11 | -10.39 | -9.2 | 98.20 | -4.29 | 23.0 | 2.10 | 170.68 | -89.57 | 39.87 | 16.54 | 0.55 |
| 22Q4 (13) | 2.56 | -34.02 | 8.02 | 46.34 | -0.3 | 8.8 | 14.55 | -18.58 | 13.58 | 14.14 | -36.79 | 1.29 | 12.61 | -33.1 | 6.23 | 3.53 | -37.41 | -5.36 | 2.26 | -35.98 | -1.74 | 0.18 | -5.26 | -5.26 | 21.22 | -27.92 | 0.71 | 58.15 | 1.08 | -7.68 | 102.60 | 28.4 | 11.62 | -2.97 | -114.8 | -135.15 | 34.21 | -5.13 | 1.0 |
| 22Q3 (12) | 3.88 | 20.87 | 106.38 | 46.48 | 3.94 | 11.92 | 17.87 | 2.82 | 47.2 | 22.37 | 13.15 | 74.77 | 18.85 | 17.74 | 74.21 | 5.64 | 18.49 | 81.35 | 3.53 | 18.46 | 82.9 | 0.19 | 5.56 | 5.56 | 29.44 | 9.85 | 44.38 | 57.53 | -12.1 | -9.23 | 79.91 | -9.1 | -15.68 | 20.09 | 66.1 | 283.58 | 36.06 | -4.45 | -7.23 |
| 22Q2 (11) | 3.21 | -1.23 | 89.94 | 44.72 | -2.1 | 3.86 | 17.38 | 2.0 | 25.04 | 19.77 | -7.31 | 60.6 | 16.01 | -10.06 | 59.94 | 4.76 | -3.45 | 71.84 | 2.98 | -3.87 | 69.32 | 0.18 | 5.88 | 0.0 | 26.80 | -8.0 | 33.73 | 65.45 | 14.04 | 3.97 | 87.90 | 10.1 | -22.13 | 12.10 | -40.01 | 193.87 | 37.74 | -4.82 | -4.04 |
| 22Q1 (10) | 3.25 | 37.13 | 116.67 | 45.68 | 7.26 | 10.66 | 17.04 | 33.02 | 61.52 | 21.33 | 52.79 | 85.16 | 17.80 | 49.96 | 82.94 | 4.93 | 32.17 | 103.72 | 3.10 | 34.78 | 98.72 | 0.17 | -10.53 | 6.25 | 29.13 | 38.25 | 44.07 | 57.39 | -8.89 | 7.51 | 79.84 | -13.15 | -12.71 | 20.16 | 138.3 | 136.2 | 39.65 | 17.07 | -4.69 |
| 21Q4 (9) | 2.37 | 26.06 | 58.0 | 42.59 | 2.55 | 0.24 | 12.81 | 5.52 | 17.42 | 13.96 | 9.06 | 36.73 | 11.87 | 9.7 | 40.14 | 3.73 | 19.94 | 62.17 | 2.30 | 19.17 | 56.46 | 0.19 | 5.56 | 11.76 | 21.07 | 3.33 | 8.27 | 62.99 | -0.62 | 6.93 | 91.92 | -3.0 | -13.68 | 8.46 | 61.54 | 230.31 | 33.87 | -12.86 | -11.15 |
| 21Q3 (8) | 1.88 | 11.24 | -24.8 | 41.53 | -3.55 | -8.26 | 12.14 | -12.66 | -25.98 | 12.80 | 3.98 | -25.8 | 10.82 | 8.09 | -26.34 | 3.11 | 12.27 | -29.8 | 1.93 | 9.66 | -28.52 | 0.18 | 0.0 | 0.0 | 20.39 | 1.75 | -22.91 | 63.38 | 0.68 | 20.17 | 94.76 | -16.06 | -0.25 | 5.24 | 140.65 | 4.76 | 38.87 | -1.17 | 0.31 |
| 21Q2 (7) | 1.69 | 12.67 | -39.21 | 43.06 | 4.31 | -4.25 | 13.90 | 31.75 | -22.52 | 12.31 | 6.86 | -26.46 | 10.01 | 2.88 | -29.85 | 2.77 | 14.46 | -43.47 | 1.76 | 12.82 | -36.23 | 0.18 | 12.5 | -5.26 | 20.04 | -0.89 | -22.54 | 62.95 | 17.93 | -24.8 | 112.89 | 23.42 | 5.2 | -12.89 | -250.96 | -76.34 | 39.33 | -5.46 | 0 |
| 21Q1 (6) | 1.50 | 0.0 | -16.67 | 41.28 | -2.85 | -0.7 | 10.55 | -3.3 | -15.67 | 11.52 | 12.83 | -8.5 | 9.73 | 14.88 | -7.95 | 2.42 | 5.22 | -25.08 | 1.56 | 6.12 | -14.75 | 0.16 | -5.88 | -5.88 | 20.22 | 3.91 | -13.48 | 53.38 | -9.39 | -32.58 | 91.46 | -14.11 | -8.0 | 8.54 | 231.46 | 1359.76 | 41.60 | 9.13 | 0 |
| 20Q4 (5) | 1.50 | -40.0 | -19.35 | 42.49 | -6.14 | -1.89 | 10.91 | -33.48 | -6.67 | 10.21 | -40.81 | -5.72 | 8.47 | -42.34 | -13.31 | 2.30 | -48.08 | -33.33 | 1.47 | -45.56 | -23.44 | 0.17 | -5.56 | -10.53 | 19.46 | -26.43 | -4.93 | 58.91 | 11.7 | -32.08 | 106.49 | 12.1 | -1.28 | -6.49 | -229.87 | 17.58 | 38.12 | -1.63 | 10.69 |
| 20Q3 (4) | 2.50 | -10.07 | 0.0 | 45.27 | 0.67 | 0.0 | 16.40 | -8.58 | 0.0 | 17.25 | 3.05 | 0.0 | 14.69 | 2.94 | 0.0 | 4.43 | -9.59 | 0.0 | 2.70 | -2.17 | 0.0 | 0.18 | -5.26 | 0.0 | 26.45 | 2.24 | 0.0 | 52.74 | -37.0 | 0.0 | 95.00 | -11.47 | 0.0 | 5.00 | 168.42 | 0.0 | 38.75 | 0 | 0.0 |
| 20Q2 (3) | 2.78 | 54.44 | 0.0 | 44.97 | 8.18 | 0.0 | 17.94 | 43.41 | 0.0 | 16.74 | 32.96 | 0.0 | 14.27 | 35.0 | 0.0 | 4.90 | 51.7 | 0.0 | 2.76 | 50.82 | 0.0 | 0.19 | 11.76 | 0.0 | 25.87 | 10.7 | 0.0 | 83.71 | 5.73 | 0.0 | 107.31 | 7.94 | 0.0 | -7.31 | -1349.62 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 1.80 | -3.23 | 0.0 | 41.57 | -4.02 | 0.0 | 12.51 | 7.01 | 0.0 | 12.59 | 16.25 | 0.0 | 10.57 | 8.19 | 0.0 | 3.23 | -6.38 | 0.0 | 1.83 | -4.69 | 0.0 | 0.17 | -10.53 | 0.0 | 23.37 | 14.17 | 0.0 | 79.17 | -8.73 | 0.0 | 99.42 | -7.85 | 0.0 | 0.58 | 107.42 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 1.86 | 0.0 | 0.0 | 43.31 | 0.0 | 0.0 | 11.69 | 0.0 | 0.0 | 10.83 | 0.0 | 0.0 | 9.77 | 0.0 | 0.0 | 3.45 | 0.0 | 0.0 | 1.92 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 20.47 | 0.0 | 0.0 | 86.74 | 0.0 | 0.0 | 107.88 | 0.0 | 0.0 | -7.88 | 0.0 | 0.0 | 34.44 | 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) | 13.92 | 7.99 | 47.83 | 4.41 | 18.06 | 8.08 | 5.67 | -9.47 | 19.42 | 0.26 | 16.07 | -1.41 | 18.17 | -2.99 | 11.48 | -2.55 | 0.70 | -2.78 | 26.33 | -1.09 | 63.24 | 8.75 | 92.98 | 7.8 | 7.02 | -48.94 | 2.38 | -9.92 | 36.55 | -0.79 |
| 2022 (9) | 12.89 | 73.25 | 45.81 | 8.68 | 16.71 | 34.65 | 6.26 | -6.7 | 19.37 | 52.16 | 16.30 | 52.48 | 18.73 | 57.53 | 11.78 | 58.33 | 0.72 | 4.35 | 26.62 | 30.11 | 58.15 | -7.68 | 86.26 | -11.5 | 13.74 | 442.42 | 2.64 | 2.51 | 36.84 | -3.43 |
| 2021 (8) | 7.44 | -11.53 | 42.15 | -3.39 | 12.41 | -14.47 | 6.71 | -17.97 | 12.73 | -10.73 | 10.69 | -11.29 | 11.89 | -16.5 | 7.44 | -12.26 | 0.69 | 0.0 | 20.46 | -14.0 | 62.99 | 6.93 | 97.47 | -4.23 | 2.53 | 0 | 2.58 | 437.96 | 38.15 | 1.44 |
| 2020 (7) | 8.41 | 56.9 | 43.63 | 7.97 | 14.51 | 67.75 | 8.18 | -13.37 | 14.26 | 60.77 | 12.05 | 55.28 | 14.24 | 41.41 | 8.48 | 54.74 | 0.69 | 2.99 | 23.79 | 19.49 | 58.91 | -32.08 | 101.78 | 4.34 | -1.78 | 0 | 0.48 | 11.94 | 37.61 | 7.24 |
| 2019 (6) | 5.36 | 27.92 | 40.41 | 1.71 | 8.65 | 44.17 | 9.45 | 6.89 | 8.87 | 20.19 | 7.76 | 23.76 | 10.07 | 17.78 | 5.48 | 22.32 | 0.67 | -1.47 | 19.91 | 11.35 | 86.74 | -12.33 | 97.55 | 20.2 | 2.45 | -86.8 | 0.43 | -16.55 | 35.07 | 0.95 |
| 2018 (5) | 4.19 | 128.96 | 39.73 | 0.43 | 6.00 | 48.51 | 8.84 | -5.73 | 7.38 | 60.43 | 6.27 | 86.61 | 8.55 | 122.08 | 4.48 | 104.57 | 0.68 | 15.25 | 17.88 | 13.81 | 98.94 | -4.53 | 81.16 | -7.57 | 18.59 | 52.46 | 0.51 | 0 | 34.74 | -4.11 |
| 2017 (4) | 1.83 | -74.19 | 39.56 | -14.54 | 4.04 | -70.77 | 9.38 | 28.5 | 4.60 | -64.97 | 3.36 | -70.27 | 3.85 | -73.88 | 2.19 | -73.58 | 0.59 | -16.9 | 15.71 | -28.49 | 103.64 | 24.16 | 87.80 | -16.67 | 12.20 | 0 | 0.00 | 0 | 36.23 | -1.79 |
| 2016 (3) | 7.09 | 91.11 | 46.29 | 3.6 | 13.82 | 73.4 | 7.30 | 9.24 | 13.13 | 46.54 | 11.30 | 54.16 | 14.74 | 85.18 | 8.29 | 77.14 | 0.71 | 14.52 | 21.97 | 27.96 | 83.47 | 1.41 | 105.38 | 18.55 | -5.22 | 0 | 0.00 | 0 | 36.89 | 1.54 |
| 2015 (2) | 3.71 | -43.96 | 44.68 | -4.04 | 7.97 | -40.61 | 6.68 | 98.25 | 8.96 | -37.86 | 7.33 | -41.12 | 7.96 | -47.56 | 4.68 | -50.05 | 0.62 | -17.33 | 17.17 | -8.18 | 82.31 | 16.49 | 88.89 | -4.58 | 11.11 | 58.47 | 0.00 | 0 | 36.33 | 3.68 |
| 2014 (1) | 6.62 | 87.01 | 46.56 | 0 | 13.42 | 0 | 3.37 | -8.69 | 14.42 | 0 | 12.45 | 0 | 15.18 | 0 | 9.37 | 0 | 0.75 | 17.19 | 18.70 | 20.26 | 70.66 | 32.15 | 93.16 | -8.8 | 7.01 | 0 | 0.00 | 0 | 35.04 | -7.45 |
