- 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) | 2.32 | -56.31 | 53.64 | 17.50 | -14.8 | 8.7 | 11.15 | -17.89 | 2.58 | 14.84 | -48.47 | 34.06 | 11.49 | -49.76 | 27.1 | 3.00 | -53.78 | 41.51 | 1.96 | -50.63 | 54.33 | 0.17 | 0.0 | 30.77 | 32.71 | -29.82 | -1.09 | 53.18 | -12.6 | -23.67 | 75.21 | 59.53 | -23.43 | 24.83 | -53.03 | 1252.2 | 24.93 | 15.85 | 5.9 |
| 23Q4 (19) | 5.31 | 152.86 | 195.0 | 20.54 | 15.65 | 19.21 | 13.58 | 24.25 | 17.58 | 28.80 | 104.98 | 169.92 | 22.87 | 111.56 | 165.31 | 6.49 | 108.01 | 168.18 | 3.97 | 118.13 | 194.07 | 0.17 | 6.25 | 13.33 | 46.61 | 40.31 | 47.59 | 60.85 | -14.73 | -23.34 | 47.14 | -39.44 | -56.45 | 52.86 | 138.59 | 740.46 | 21.52 | -7.48 | 31.7 |
| 23Q3 (18) | 2.10 | 16.67 | -34.38 | 17.76 | 5.84 | -8.55 | 10.93 | 2.25 | -17.45 | 14.05 | 8.58 | -15.77 | 10.81 | 7.03 | -17.92 | 3.12 | 16.85 | -30.04 | 1.82 | 15.92 | -20.87 | 0.16 | 6.67 | -5.88 | 33.22 | -1.01 | -4.4 | 71.36 | -15.46 | -22.92 | 77.85 | -5.79 | -1.9 | 22.15 | 27.54 | 7.32 | 23.26 | 1.04 | -4.94 |
| 23Q2 (17) | 1.80 | 19.21 | -50.95 | 16.78 | 4.22 | -28.6 | 10.69 | -1.66 | -38.56 | 12.94 | 16.89 | -32.14 | 10.10 | 11.73 | -31.34 | 2.67 | 25.94 | -50.46 | 1.57 | 23.62 | -44.33 | 0.15 | 15.38 | -21.05 | 33.56 | 1.48 | -4.63 | 84.41 | 21.16 | -18.05 | 82.63 | -15.87 | -9.43 | 17.37 | 846.11 | 98.12 | 23.02 | -2.21 | 0.09 |
| 23Q1 (16) | 1.51 | -16.11 | -48.29 | 16.10 | -6.56 | -26.72 | 10.87 | -5.89 | -34.12 | 11.07 | 3.75 | -37.07 | 9.04 | 4.87 | -35.52 | 2.12 | -12.4 | -53.3 | 1.27 | -5.93 | -48.79 | 0.13 | -13.33 | -23.53 | 33.07 | 4.72 | -5.7 | 69.67 | -12.23 | -17.62 | 98.22 | -9.27 | 4.71 | 1.84 | 122.25 | -70.36 | 23.54 | 44.06 | -2.32 |
| 22Q4 (15) | 1.80 | -43.75 | -44.44 | 17.23 | -11.28 | -26.46 | 11.55 | -12.76 | -33.81 | 10.67 | -36.03 | -40.26 | 8.62 | -34.55 | -40.14 | 2.42 | -45.74 | -53.37 | 1.35 | -41.3 | -52.13 | 0.15 | -11.76 | -21.05 | 31.58 | -9.12 | -8.09 | 79.38 | -14.26 | -9.09 | 108.25 | 36.41 | 10.8 | -8.25 | -139.98 | -459.26 | 16.34 | -33.22 | -27.73 |
| 22Q3 (14) | 3.20 | -12.81 | 0.0 | 19.42 | -17.36 | -18.51 | 13.24 | -23.91 | -27.93 | 16.68 | -12.53 | -10.71 | 13.17 | -10.47 | -11.25 | 4.46 | -17.25 | -19.64 | 2.30 | -18.44 | -22.82 | 0.17 | -10.53 | -15.0 | 34.75 | -1.25 | -0.43 | 92.58 | -10.12 | 8.53 | 79.36 | -13.02 | -19.31 | 20.64 | 135.46 | 1147.28 | 24.47 | 6.39 | 3.95 |
| 22Q2 (13) | 3.67 | 25.68 | 27.43 | 23.50 | 6.96 | 0.34 | 17.40 | 5.45 | -2.9 | 19.07 | 8.41 | 5.3 | 14.71 | 4.92 | 4.25 | 5.39 | 18.72 | 9.78 | 2.82 | 13.71 | 5.62 | 0.19 | 11.76 | 0.0 | 35.19 | 0.34 | -0.31 | 103.00 | 21.79 | 11.82 | 91.23 | -2.74 | -7.78 | 8.77 | 41.55 | 718.42 | 23.00 | -4.56 | 1.68 |
| 22Q1 (12) | 2.92 | -9.88 | 32.13 | 21.97 | -6.23 | 4.07 | 16.50 | -5.44 | 7.91 | 17.59 | -1.51 | 15.88 | 14.02 | -2.64 | 13.52 | 4.54 | -12.52 | 18.54 | 2.48 | -12.06 | 16.43 | 0.17 | -10.53 | 0.0 | 35.07 | 2.07 | 4.03 | 84.57 | -3.15 | 4.61 | 93.81 | -3.99 | -6.83 | 6.19 | 169.63 | 966.5 | 24.10 | 6.59 | -6.34 |
| 21Q4 (11) | 3.24 | 1.25 | 50.7 | 23.43 | -1.68 | 15.31 | 17.45 | -5.01 | 19.85 | 17.86 | -4.39 | 31.13 | 14.40 | -2.96 | 33.33 | 5.19 | -6.49 | 44.97 | 2.82 | -5.37 | 45.36 | 0.19 | -5.0 | 5.56 | 34.36 | -1.55 | 3.68 | 87.32 | 2.37 | 1.31 | 97.70 | -0.65 | -8.61 | 2.30 | 38.79 | 133.24 | 22.61 | -3.95 | 2.73 |
| 21Q3 (10) | 3.20 | 11.11 | 52.38 | 23.83 | 1.75 | 22.96 | 18.37 | 2.51 | 32.35 | 18.68 | 3.15 | 36.75 | 14.84 | 5.17 | 37.66 | 5.55 | 13.03 | 50.82 | 2.98 | 11.61 | 56.84 | 0.20 | 5.26 | 17.65 | 34.90 | -1.13 | 7.06 | 85.30 | -7.39 | -7.73 | 98.34 | -0.59 | -3.19 | 1.66 | 54.5 | 204.43 | 23.54 | 4.07 | 3.75 |
| 21Q2 (9) | 2.88 | 30.32 | 27.43 | 23.42 | 10.94 | 20.6 | 17.92 | 17.2 | 28.27 | 18.11 | 19.3 | 30.76 | 14.11 | 14.25 | 29.09 | 4.91 | 28.2 | 28.53 | 2.67 | 25.35 | 34.85 | 0.19 | 11.76 | 5.56 | 35.30 | 4.72 | 10.76 | 92.11 | 13.94 | -12.73 | 98.93 | -1.74 | -1.95 | 1.07 | 249.87 | 219.98 | 22.62 | -12.09 | 0 |
| 21Q1 (8) | 2.21 | 2.79 | 5.24 | 21.11 | 3.89 | 6.62 | 15.29 | 5.01 | 10.24 | 15.18 | 11.45 | 12.86 | 12.35 | 14.35 | 18.52 | 3.83 | 6.98 | 9.12 | 2.13 | 9.79 | 13.3 | 0.17 | -5.56 | 0.0 | 33.71 | 1.72 | 8.71 | 80.84 | -6.21 | -11.42 | 100.68 | -5.83 | -2.41 | -0.71 | 89.66 | 77.4 | 25.73 | 16.9 | 4.72 |
| 20Q4 (7) | 2.15 | 2.38 | -19.78 | 20.32 | 4.85 | -6.06 | 14.56 | 4.9 | -9.0 | 13.62 | -0.29 | -7.41 | 10.80 | 0.19 | -12.2 | 3.58 | -2.72 | -18.64 | 1.94 | 2.11 | -16.74 | 0.18 | 5.88 | 0.0 | 33.14 | 1.66 | 2.92 | 86.19 | -6.77 | -9.44 | 106.91 | 5.24 | -1.67 | -6.91 | -336.08 | 20.86 | 22.01 | -3.0 | 0 |
| 20Q3 (6) | 2.10 | -7.08 | 1.94 | 19.38 | -0.21 | -3.77 | 13.88 | -0.64 | -2.12 | 13.66 | -1.37 | 1.49 | 10.78 | -1.37 | -1.19 | 3.68 | -3.66 | -0.81 | 1.90 | -4.04 | -2.06 | 0.17 | -5.56 | 0.0 | 32.60 | 2.29 | 1.02 | 92.45 | -12.41 | -1.58 | 101.58 | 0.69 | -3.56 | -1.58 | -77.5 | 70.26 | 22.69 | 0 | -4.14 |
| 20Q2 (5) | 2.26 | 7.62 | 59.15 | 19.42 | -1.92 | 12.91 | 13.97 | 0.72 | 26.31 | 13.85 | 2.97 | 21.28 | 10.93 | 4.89 | 23.78 | 3.82 | 8.83 | 50.99 | 1.98 | 5.32 | 46.67 | 0.18 | 5.88 | 20.0 | 31.87 | 2.77 | -4.12 | 105.55 | 15.66 | 2.12 | 100.89 | -2.2 | 4.22 | -0.89 | 71.77 | -127.95 | 0.00 | -100.0 | -100.0 |
| 20Q1 (4) | 2.10 | -21.64 | 0.0 | 19.80 | -8.46 | 0.0 | 13.87 | -13.31 | 0.0 | 13.45 | -8.57 | 0.0 | 10.42 | -15.28 | 0.0 | 3.51 | -20.23 | 0.0 | 1.88 | -19.31 | 0.0 | 0.17 | -5.56 | 0.0 | 31.01 | -3.7 | 0.0 | 91.26 | -4.11 | 0.0 | 103.16 | -5.12 | 0.0 | -3.16 | 63.78 | 0.0 | 24.57 | 0 | 0.0 |
| 19Q4 (3) | 2.68 | 30.1 | 0.0 | 21.63 | 7.4 | 0.0 | 16.00 | 12.83 | 0.0 | 14.71 | 9.29 | 0.0 | 12.30 | 12.74 | 0.0 | 4.40 | 18.6 | 0.0 | 2.33 | 20.1 | 0.0 | 0.18 | 5.88 | 0.0 | 32.20 | -0.22 | 0.0 | 95.17 | 1.32 | 0.0 | 108.73 | 3.23 | 0.0 | -8.73 | -63.85 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (2) | 2.06 | 45.07 | 0.0 | 20.14 | 17.09 | 0.0 | 14.18 | 28.21 | 0.0 | 13.46 | 17.86 | 0.0 | 10.91 | 23.56 | 0.0 | 3.71 | 46.64 | 0.0 | 1.94 | 43.7 | 0.0 | 0.17 | 13.33 | 0.0 | 32.27 | -2.92 | 0.0 | 93.93 | -9.12 | 0.0 | 105.33 | 8.8 | 0.0 | -5.33 | -266.86 | 0.0 | 23.67 | -0.67 | 0.0 |
| 19Q2 (1) | 1.42 | 0.0 | 0.0 | 17.20 | 0.0 | 0.0 | 11.06 | 0.0 | 0.0 | 11.42 | 0.0 | 0.0 | 8.83 | 0.0 | 0.0 | 2.53 | 0.0 | 0.0 | 1.35 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 33.24 | 0.0 | 0.0 | 103.36 | 0.0 | 0.0 | 96.81 | 0.0 | 0.0 | 3.19 | 0.0 | 0.0 | 23.83 | 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) | 10.72 | -7.59 | 17.90 | -13.53 | 11.58 | -21.92 | 19.29 | 9.22 | 17.10 | 5.23 | 13.50 | 5.39 | 14.04 | -15.37 | 8.49 | -7.92 | 0.61 | -14.08 | 36.89 | 7.68 | 60.85 | -23.34 | 67.71 | -25.81 | 32.30 | 269.62 | 1.00 | 5.22 | 22.79 | 2.7 |
| 2022 (9) | 11.60 | 0.52 | 20.70 | -10.12 | 14.83 | -14.43 | 17.66 | 5.59 | 16.25 | -7.41 | 12.81 | -8.43 | 16.59 | -13.91 | 9.22 | -12.02 | 0.71 | -4.05 | 34.26 | -0.95 | 79.38 | -9.09 | 91.26 | -7.61 | 8.74 | 609.98 | 0.95 | 14.18 | 22.19 | -5.77 |
| 2021 (8) | 11.54 | 34.19 | 23.03 | 16.73 | 17.33 | 23.17 | 16.72 | -7.41 | 17.55 | 28.57 | 13.99 | 30.26 | 19.27 | 33.45 | 10.48 | 34.7 | 0.74 | 4.23 | 34.59 | 7.56 | 87.32 | 1.31 | 98.78 | -4.2 | 1.23 | 0 | 0.83 | -10.04 | 23.55 | 2.3 |
| 2020 (7) | 8.60 | 14.36 | 19.73 | 3.52 | 14.07 | 7.4 | 18.06 | -5.48 | 13.65 | 6.72 | 10.74 | 3.87 | 14.44 | 13.34 | 7.78 | 14.58 | 0.71 | 12.7 | 32.16 | -1.41 | 86.19 | -9.44 | 103.11 | 0.69 | -3.11 | 0 | 0.92 | -6.86 | 23.02 | -0.95 |
| 2019 (6) | 7.52 | -6.23 | 19.06 | -6.25 | 13.10 | -8.9 | 19.11 | 3.89 | 12.79 | -7.79 | 10.34 | -6.34 | 12.74 | -12.86 | 6.79 | -11.47 | 0.63 | -5.97 | 32.62 | -1.12 | 95.17 | -0.01 | 102.40 | -1.25 | -2.41 | 0 | 0.99 | -11.8 | 23.24 | -0.81 |
| 2018 (5) | 8.02 | 6.79 | 20.33 | -4.51 | 14.38 | -5.52 | 18.39 | 4.51 | 13.87 | -6.91 | 11.04 | -9.73 | 14.62 | -5.74 | 7.67 | -7.92 | 0.67 | 1.52 | 32.99 | -0.21 | 95.18 | -5.38 | 103.70 | 1.56 | -3.69 | 0 | 1.12 | -10.57 | 23.43 | -0.85 |
| 2017 (4) | 7.51 | 21.13 | 21.29 | -1.62 | 15.22 | -3.61 | 17.60 | 0.51 | 14.90 | -0.8 | 12.23 | -1.61 | 15.51 | 11.34 | 8.33 | 3.35 | 0.66 | 3.13 | 33.06 | 0.06 | 100.59 | 24.23 | 102.10 | -2.83 | -2.10 | 0 | 1.25 | 0 | 23.63 | 2.83 |
| 2016 (3) | 6.20 | 19.23 | 21.64 | 11.95 | 15.79 | 18.99 | 17.51 | -14.51 | 15.02 | 9.96 | 12.43 | 4.89 | 13.93 | 12.61 | 8.06 | 9.21 | 0.64 | 6.67 | 33.04 | -5.25 | 80.97 | 14.2 | 105.08 | 8.13 | -5.08 | 0 | 0.00 | 0 | 22.98 | 2.96 |
| 2015 (2) | 5.20 | 22.64 | 19.33 | 16.24 | 13.27 | 25.54 | 20.48 | -7.2 | 13.66 | 14.98 | 11.85 | 7.14 | 12.37 | 7.01 | 7.38 | 13.71 | 0.60 | 5.26 | 34.87 | 0.49 | 70.90 | -6.27 | 97.18 | 9.21 | 2.82 | -74.37 | 0.00 | 0 | 22.32 | 13.13 |
| 2014 (1) | 4.24 | 0 | 16.63 | 0 | 10.57 | 0 | 22.07 | -16.56 | 11.88 | 0 | 11.06 | 0 | 11.56 | 0 | 6.49 | 0 | 0.57 | 9.62 | 34.70 | 70.1 | 75.64 | -19.63 | 88.98 | 0 | 11.02 | -94.61 | 0.00 | 0 | 19.73 | 10.04 |
