- 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) | 1.94 | -12.22 | 7.78 | 75.44 | -4.71 | -4.4 | 25.35 | 7.55 | 21.99 | 26.65 | 0.91 | 11.0 | 21.41 | 2.44 | 11.51 | 8.60 | -3.59 | 3.74 | 5.75 | 1.95 | 15.0 | 0.27 | 0.0 | 3.85 | 31.23 | 0.68 | 6.19 | 41.86 | -29.67 | -23.72 | 95.45 | 6.51 | 10.93 | 4.55 | -56.2 | -67.42 | 61.37 | -0.47 | -3.57 |
| 24Q2 (19) | 2.21 | 16.93 | 198.65 | 79.17 | -0.81 | -1.38 | 23.57 | 11.07 | 157.88 | 26.41 | 6.71 | 143.63 | 20.90 | 7.68 | 133.52 | 8.92 | 12.06 | 144.38 | 5.64 | 8.25 | 177.83 | 0.27 | 0.0 | 17.39 | 31.02 | 4.62 | 83.77 | 59.52 | 1.8 | -26.44 | 89.62 | 4.37 | 5.07 | 10.38 | -26.56 | -29.43 | 61.66 | -3.22 | -14.12 |
| 24Q1 (18) | 1.89 | 24.34 | 136.25 | 79.82 | 0.43 | 3.23 | 21.22 | -5.23 | 120.12 | 24.75 | 18.82 | 131.09 | 19.41 | 24.74 | 91.04 | 7.96 | 22.46 | 123.6 | 5.21 | 20.6 | 129.52 | 0.27 | 0.0 | 22.73 | 29.65 | 14.57 | 75.03 | 58.47 | 19.3 | -27.01 | 85.87 | -20.34 | -5.25 | 14.13 | 281.34 | 50.72 | 63.71 | 3.93 | -11.7 |
| 23Q4 (17) | 1.52 | -15.56 | -2.56 | 79.48 | 0.72 | 0.85 | 22.39 | 7.75 | 3.9 | 20.83 | -13.24 | -6.21 | 15.56 | -18.96 | -8.47 | 6.50 | -21.59 | 2.85 | 4.32 | -13.6 | -3.57 | 0.27 | 3.85 | 3.85 | 25.88 | -12.0 | -7.14 | 49.01 | -10.7 | 17.84 | 107.79 | 25.27 | 10.67 | -7.79 | -155.84 | -400.0 | 61.30 | -3.68 | 0.96 |
| 23Q3 (16) | 1.80 | 143.24 | -13.88 | 78.91 | -1.71 | -3.74 | 20.78 | 127.35 | -13.56 | 24.01 | 121.49 | -14.62 | 19.20 | 114.53 | -13.79 | 8.29 | 127.12 | -9.99 | 5.00 | 146.31 | -13.64 | 0.26 | 13.04 | 0.0 | 29.41 | 74.23 | -11.76 | 54.88 | -32.17 | 30.26 | 86.05 | 0.88 | 0.05 | 13.95 | -5.12 | -6.98 | 63.64 | -11.36 | 5.45 |
| 23Q2 (15) | 0.74 | -7.5 | -60.64 | 80.28 | 3.83 | -2.96 | 9.14 | -5.19 | -61.87 | 10.84 | 1.21 | -59.28 | 8.95 | -11.91 | -56.93 | 3.65 | 2.53 | -55.43 | 2.03 | -10.57 | -60.12 | 0.23 | 4.55 | -4.17 | 16.88 | -0.35 | -47.22 | 80.91 | 1.0 | 1.82 | 85.29 | -5.88 | -5.46 | 14.71 | 56.86 | 50.33 | 71.80 | -0.49 | 15.14 |
| 23Q1 (14) | 0.80 | -48.72 | -58.55 | 77.32 | -1.89 | -10.05 | 9.64 | -55.27 | -62.42 | 10.71 | -51.78 | -60.96 | 10.16 | -40.24 | -50.63 | 3.56 | -43.67 | -56.74 | 2.27 | -49.33 | -59.17 | 0.22 | -15.38 | -18.52 | 16.94 | -39.22 | -47.86 | 80.11 | 92.62 | 72.76 | 90.62 | -6.96 | -3.46 | 9.38 | 260.94 | 53.12 | 72.15 | 18.82 | 21.14 |
| 22Q4 (13) | 1.56 | -25.36 | -39.53 | 78.81 | -3.87 | -5.15 | 21.55 | -10.36 | -27.83 | 22.21 | -21.02 | -25.74 | 17.00 | -23.66 | -33.88 | 6.32 | -31.38 | -48.45 | 4.48 | -22.63 | -43.36 | 0.26 | 0.0 | -16.13 | 27.87 | -16.38 | -19.33 | 41.59 | -1.28 | -19.96 | 97.40 | 13.26 | -2.6 | 2.60 | -82.68 | 0 | 60.72 | 0.61 | 1.95 |
| 22Q3 (12) | 2.09 | 11.17 | 32.28 | 81.98 | -0.91 | 0.34 | 24.04 | 0.29 | -4.03 | 28.12 | 5.63 | 11.19 | 22.27 | 7.17 | 26.97 | 9.21 | 12.45 | 20.23 | 5.79 | 13.75 | 18.65 | 0.26 | 8.33 | -7.14 | 33.33 | 4.22 | 10.25 | 42.13 | -46.98 | -30.23 | 86.00 | -4.67 | -13.0 | 15.00 | 53.33 | 1205.0 | 60.35 | -3.22 | 7.46 |
| 22Q2 (11) | 1.88 | -2.59 | 82.52 | 82.73 | -3.76 | 5.09 | 23.97 | -6.55 | 28.59 | 26.62 | -2.95 | 45.39 | 20.78 | 0.97 | 62.22 | 8.19 | -0.49 | 68.52 | 5.09 | -8.45 | 59.06 | 0.24 | -11.11 | -4.0 | 31.98 | -1.57 | 25.46 | 79.46 | 71.36 | 42.89 | 90.22 | -3.9 | -11.37 | 9.78 | 59.78 | 647.83 | 62.36 | 4.7 | 5.5 |
| 22Q1 (10) | 1.93 | -25.19 | 160.81 | 85.96 | 3.45 | 6.29 | 25.65 | -14.1 | 82.95 | 27.43 | -8.29 | 87.24 | 20.58 | -19.95 | 96.37 | 8.23 | -32.87 | 126.72 | 5.56 | -29.71 | 127.87 | 0.27 | -12.9 | 17.39 | 32.49 | -5.96 | 42.75 | 46.37 | -10.76 | -10.05 | 93.88 | -6.12 | -3.65 | 6.12 | 0 | 19.39 | 59.56 | 0.0 | -7.89 |
| 21Q4 (9) | 2.58 | 63.29 | 360.71 | 83.09 | 1.7 | 6.54 | 29.86 | 19.2 | 122.5 | 29.91 | 18.27 | 163.99 | 25.71 | 46.58 | 214.69 | 12.26 | 60.05 | 330.18 | 7.91 | 62.09 | 311.98 | 0.31 | 10.71 | 34.78 | 34.55 | 14.29 | 74.06 | 51.96 | -13.95 | 0.6 | 100.00 | 1.16 | -14.29 | 0.00 | -100.0 | 100.0 | 59.56 | 6.05 | -10.5 |
| 21Q3 (8) | 1.58 | 53.4 | 8.22 | 81.70 | 3.79 | 1.16 | 25.05 | 34.39 | 9.87 | 25.29 | 38.12 | 12.95 | 17.54 | 36.92 | -3.73 | 7.66 | 57.61 | -1.03 | 4.88 | 52.5 | 1.24 | 0.28 | 12.0 | 7.69 | 30.23 | 18.6 | 2.44 | 60.38 | 8.58 | 15.69 | 98.85 | -2.88 | -3.97 | 1.15 | 164.37 | 178.16 | 56.16 | -4.99 | -2.97 |
| 21Q2 (7) | 1.03 | 39.19 | -35.22 | 78.72 | -2.66 | -6.63 | 18.64 | 32.95 | -26.53 | 18.31 | 24.98 | -26.26 | 12.81 | 22.23 | -33.42 | 4.86 | 33.88 | -43.62 | 3.20 | 31.15 | -40.19 | 0.25 | 8.7 | -10.71 | 25.49 | 11.99 | -19.16 | 55.61 | 7.88 | -23.95 | 101.79 | 4.46 | -0.76 | -1.79 | -134.82 | 30.36 | 59.11 | -8.58 | 4.56 |
| 21Q1 (6) | 0.74 | 32.14 | 68.18 | 80.87 | 3.69 | -2.37 | 14.02 | 4.47 | 68.92 | 14.65 | 29.3 | 57.87 | 10.48 | 28.27 | 57.36 | 3.63 | 27.37 | 53.81 | 2.44 | 27.08 | 54.43 | 0.23 | 0.0 | 0.0 | 22.76 | 14.66 | 9.0 | 51.55 | -0.19 | -1.77 | 97.44 | -16.48 | 6.72 | 5.13 | 130.77 | -41.03 | 64.66 | -2.84 | -4.52 |
| 20Q4 (5) | 0.56 | -61.64 | -20.0 | 77.99 | -3.43 | -8.13 | 13.42 | -41.14 | 0.98 | 11.33 | -49.4 | -11.83 | 8.17 | -55.16 | -21.29 | 2.85 | -63.18 | -26.55 | 1.92 | -60.17 | -25.87 | 0.23 | -11.54 | -8.0 | 19.85 | -32.73 | -7.59 | 51.65 | -1.03 | -10.27 | 116.67 | 13.33 | 13.24 | -16.67 | -1033.33 | -450.0 | 66.55 | 14.98 | 4.69 |
| 20Q3 (4) | 1.46 | -8.18 | 0.0 | 80.76 | -4.21 | 0.0 | 22.80 | -10.13 | 0.0 | 22.39 | -9.83 | 0.0 | 18.22 | -5.3 | 0.0 | 7.74 | -10.21 | 0.0 | 4.82 | -9.91 | 0.0 | 0.26 | -7.14 | 0.0 | 29.51 | -6.41 | 0.0 | 52.19 | -28.62 | 0.0 | 102.94 | 0.37 | 0.0 | -1.47 | 42.65 | 0.0 | 57.88 | 2.39 | 0.0 |
| 20Q2 (3) | 1.59 | 261.36 | 0.0 | 84.31 | 1.79 | 0.0 | 25.37 | 205.66 | 0.0 | 24.83 | 167.56 | 0.0 | 19.24 | 188.89 | 0.0 | 8.62 | 265.25 | 0.0 | 5.35 | 238.61 | 0.0 | 0.28 | 21.74 | 0.0 | 31.53 | 51.01 | 0.0 | 73.12 | 39.33 | 0.0 | 102.56 | 12.33 | 0.0 | -2.56 | -129.49 | 0.0 | 56.53 | -16.52 | 0.0 |
| 20Q1 (2) | 0.44 | -37.14 | 0.0 | 82.83 | -2.43 | 0.0 | 8.30 | -37.55 | 0.0 | 9.28 | -27.78 | 0.0 | 6.66 | -35.84 | 0.0 | 2.36 | -39.18 | 0.0 | 1.58 | -39.0 | 0.0 | 0.23 | -8.0 | 0.0 | 20.88 | -2.79 | 0.0 | 52.48 | -8.83 | 0.0 | 91.30 | -11.38 | 0.0 | 8.70 | 386.96 | 0.0 | 67.72 | 6.53 | 0.0 |
| 19Q4 (1) | 0.70 | 0.0 | 0.0 | 84.89 | 0.0 | 0.0 | 13.29 | 0.0 | 0.0 | 12.85 | 0.0 | 0.0 | 10.38 | 0.0 | 0.0 | 3.88 | 0.0 | 0.0 | 2.59 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 21.48 | 0.0 | 0.0 | 57.56 | 0.0 | 0.0 | 103.03 | 0.0 | 0.0 | -3.03 | 0.0 | 0.0 | 63.57 | 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) | 4.86 | -34.85 | 79.03 | -4.08 | 16.01 | -32.76 | 4.55 | 8.4 | 17.07 | -34.62 | 13.77 | -31.73 | 19.75 | -36.82 | 13.71 | -36.11 | 0.99 | -6.6 | 22.65 | -27.57 | 49.01 | 17.84 | 93.89 | 2.85 | 6.11 | -29.89 | 3.10 | 36.58 | 66.81 | 10.01 |
| 2022 (9) | 7.46 | 25.59 | 82.39 | 1.42 | 23.81 | 4.98 | 4.19 | 4.83 | 26.11 | 14.47 | 20.17 | 16.12 | 31.26 | 11.36 | 21.46 | 15.13 | 1.06 | 0.0 | 31.27 | 8.39 | 41.59 | -19.96 | 91.28 | -8.1 | 8.72 | 1194.82 | 2.27 | -11.02 | 60.73 | 1.88 |
| 2021 (8) | 5.94 | 46.67 | 81.24 | -0.39 | 22.68 | 24.96 | 4.00 | -9.52 | 22.81 | 29.46 | 17.37 | 27.44 | 28.07 | 32.34 | 18.64 | 33.81 | 1.06 | 4.95 | 28.85 | 11.0 | 51.96 | 0.6 | 99.33 | -3.58 | 0.67 | 0 | 2.55 | -45.65 | 59.61 | -3.36 |
| 2020 (7) | 4.05 | 74.57 | 81.56 | -3.5 | 18.15 | 53.04 | 4.42 | 0.94 | 17.62 | 44.31 | 13.63 | 47.99 | 21.21 | 63.78 | 13.93 | 57.58 | 1.01 | 7.45 | 25.99 | 24.0 | 51.65 | -10.27 | 103.02 | 5.73 | -3.02 | 0 | 4.70 | -45.3 | 61.68 | -3.76 |
| 2019 (6) | 2.32 | 33.33 | 84.52 | 1.39 | 11.86 | 31.34 | 4.38 | 1139.42 | 12.21 | 23.96 | 9.21 | 17.93 | 12.95 | 27.21 | 8.84 | 19.14 | 0.94 | -1.05 | 20.96 | 42.39 | 57.56 | 42.79 | 97.44 | 6.29 | 2.56 | -69.23 | 8.58 | -39.84 | 64.09 | -3.71 |
| 2018 (5) | 1.74 | 77.55 | 83.36 | 0.98 | 9.03 | 26.47 | 0.35 | 39.05 | 9.85 | 51.77 | 7.81 | 64.77 | 10.18 | 71.38 | 7.42 | 70.57 | 0.95 | 4.4 | 14.72 | 25.92 | 40.31 | 18.38 | 91.67 | -16.52 | 8.33 | 0 | 14.27 | 0 | 66.56 | -3.2 |
| 2017 (4) | 0.98 | 0 | 82.55 | 0.01 | 7.14 | 0 | 0.25 | -39.01 | 6.49 | 0 | 4.74 | 0 | 5.94 | 0 | 4.35 | 0 | 0.91 | 16.67 | 11.69 | 1105.15 | 34.05 | -17.07 | 109.80 | -12.66 | -9.80 | 0 | 0.00 | 0 | 68.76 | -11.48 |
| 2016 (3) | -0.99 | 0 | 82.54 | -0.28 | -6.17 | 0 | 0.42 | -42.36 | -4.87 | 0 | -5.23 | 0 | -5.71 | 0 | -4.06 | 0 | 0.78 | 2.63 | 0.97 | -91.79 | 41.06 | 6.84 | 125.71 | 93.96 | -25.71 | 0 | 0.00 | 0 | 77.68 | 18.9 |
| 2015 (2) | 1.14 | 107.27 | 82.77 | 4.72 | 4.19 | 115.98 | 0.72 | -30.52 | 6.49 | 175.0 | 5.16 | 113.22 | 6.28 | 99.37 | 4.14 | 100.0 | 0.76 | 8.57 | 11.81 | 38.13 | 38.43 | -52.75 | 64.81 | -23.75 | 35.19 | 75.93 | 0.00 | 0 | 65.33 | 1.24 |
| 2014 (1) | 0.55 | -24.66 | 79.04 | 0 | 1.94 | 0 | 1.04 | -34.17 | 2.36 | 0 | 2.42 | 0 | 3.15 | 0 | 2.07 | 0 | 0.70 | -4.11 | 8.55 | -12.76 | 81.33 | -9.05 | 85.00 | -15.0 | 20.00 | 0 | 0.00 | 0 | 64.53 | 1.24 |
