- 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) | 2.07 | -11.54 | 1.97 | 47.23 | -0.51 | 1.4 | 33.09 | -3.33 | 1.07 | 34.55 | -4.53 | -1.31 | 28.10 | -4.45 | -1.33 | 8.49 | -6.29 | -1.51 | 5.77 | -7.09 | -3.67 | 0.20 | -4.76 | -4.76 | 36.52 | -3.77 | -0.3 | 31.78 | -50.93 | -1.88 | 95.60 | 1.22 | 2.15 | 4.40 | -20.75 | -31.32 | 11.42 | 3.63 | 1.51 |
| 24Q2 (19) | 2.34 | 25.81 | 0.86 | 47.47 | 4.03 | 5.05 | 34.23 | 9.78 | 4.61 | 36.19 | 7.97 | 5.17 | 29.41 | 7.81 | 1.73 | 9.06 | 33.83 | -3.92 | 6.21 | 20.58 | -7.59 | 0.21 | 10.53 | -8.7 | 37.95 | 7.05 | 6.21 | 64.76 | 106.11 | 14.9 | 94.44 | 1.55 | -0.95 | 5.56 | -20.56 | 19.44 | 11.02 | -7.71 | 8.46 |
| 24Q1 (18) | 1.86 | -5.1 | 2.76 | 45.63 | -1.08 | 6.31 | 31.18 | -2.1 | 5.16 | 33.52 | 3.14 | 5.67 | 27.28 | 2.75 | 5.25 | 6.77 | -11.96 | -3.7 | 5.15 | -11.51 | -6.36 | 0.19 | -13.64 | -9.52 | 35.45 | 2.99 | 6.58 | 31.42 | -5.19 | 16.54 | 93.01 | -5.09 | -0.5 | 6.99 | 249.65 | 7.23 | 11.94 | 0.17 | 8.35 |
| 23Q4 (17) | 1.96 | -3.45 | -11.71 | 46.13 | -0.97 | 4.08 | 31.85 | -2.72 | -3.66 | 32.50 | -7.17 | -3.47 | 26.55 | -6.78 | -3.66 | 7.69 | -10.79 | -18.1 | 5.82 | -2.84 | -20.38 | 0.22 | 4.76 | -18.52 | 34.42 | -6.03 | -1.43 | 33.14 | 2.32 | 15.79 | 98.00 | 4.71 | -0.24 | 2.00 | -68.8 | 13.33 | 11.92 | 5.96 | 23.91 |
| 23Q3 (16) | 2.03 | -12.5 | 14.69 | 46.58 | 3.08 | 6.98 | 32.74 | 0.06 | 6.58 | 35.01 | 1.74 | 7.33 | 28.48 | -1.49 | 7.88 | 8.62 | -8.59 | 5.25 | 5.99 | -10.86 | 2.22 | 0.21 | -8.7 | -4.55 | 36.63 | 2.52 | 6.82 | 32.39 | -42.53 | 14.82 | 93.59 | -1.84 | -0.61 | 6.41 | 37.82 | 9.78 | 11.25 | 10.73 | 9.01 |
| 23Q2 (15) | 2.32 | 28.18 | 31.82 | 45.19 | 5.29 | 8.81 | 32.72 | 10.35 | 10.58 | 34.41 | 8.48 | 9.9 | 28.91 | 11.54 | 14.09 | 9.43 | 34.14 | 19.37 | 6.72 | 22.18 | 18.1 | 0.23 | 9.52 | 4.55 | 35.73 | 7.43 | 8.44 | 56.36 | 109.05 | 7.62 | 95.35 | 2.0 | 1.31 | 4.65 | -28.68 | -9.63 | 10.16 | -7.8 | 1.2 |
| 23Q1 (14) | 1.81 | -18.47 | 44.8 | 42.92 | -3.16 | 11.74 | 29.65 | -10.31 | 19.99 | 31.72 | -5.79 | 21.91 | 25.92 | -5.95 | 19.61 | 7.03 | -25.13 | 29.7 | 5.50 | -24.76 | 28.21 | 0.21 | -22.22 | 5.0 | 33.26 | -4.75 | 19.21 | 26.96 | -5.8 | -0.52 | 93.48 | -4.84 | -1.27 | 6.52 | 269.57 | 22.61 | 11.02 | 14.55 | -1.61 |
| 22Q4 (13) | 2.22 | 25.42 | 46.05 | 44.32 | 1.79 | 12.6 | 33.06 | 7.62 | 19.65 | 33.67 | 3.22 | 17.77 | 27.56 | 4.39 | 18.74 | 9.39 | 14.65 | 33.95 | 7.31 | 24.74 | 32.43 | 0.27 | 22.73 | 12.5 | 34.92 | 1.84 | 15.48 | 28.62 | 1.45 | 8.82 | 98.24 | 4.33 | 1.71 | 1.76 | -69.78 | -48.38 | 9.62 | -6.78 | 2.01 |
| 22Q3 (12) | 1.77 | 0.57 | 39.37 | 43.54 | 4.84 | 9.18 | 30.72 | 3.82 | 14.46 | 32.62 | 4.18 | 16.75 | 26.40 | 4.18 | 17.39 | 8.19 | 3.67 | 31.46 | 5.86 | 2.99 | 28.51 | 0.22 | 0.0 | 10.0 | 34.29 | 4.07 | 14.95 | 28.21 | -46.13 | 0.39 | 94.16 | 0.05 | -1.83 | 5.84 | 13.45 | 43.07 | 10.32 | 2.79 | -6.94 |
| 22Q2 (11) | 1.76 | 40.8 | 32.33 | 41.53 | 8.12 | 2.59 | 29.59 | 19.75 | 7.99 | 31.31 | 20.33 | 12.1 | 25.34 | 16.94 | 7.92 | 7.90 | 45.76 | 25.0 | 5.69 | 32.63 | 20.81 | 0.22 | 10.0 | 10.0 | 32.95 | 18.1 | 11.09 | 52.37 | 93.25 | 13.31 | 94.12 | -0.59 | -3.94 | 5.15 | -3.24 | 154.78 | 10.04 | -10.36 | -8.89 |
| 22Q1 (10) | 1.25 | -17.76 | 22.55 | 38.41 | -2.41 | -3.81 | 24.71 | -10.57 | -1.51 | 26.02 | -8.99 | 3.46 | 21.67 | -6.64 | 5.76 | 5.42 | -22.68 | 16.06 | 4.29 | -22.28 | 13.79 | 0.20 | -16.67 | 11.11 | 27.90 | -7.74 | 2.09 | 27.10 | 3.04 | 11.89 | 94.68 | -1.97 | -5.32 | 5.32 | 55.59 | 0 | 11.20 | 18.77 | -8.27 |
| 21Q4 (9) | 1.52 | 19.69 | 12.59 | 39.36 | -1.3 | -0.38 | 27.63 | 2.94 | -1.32 | 28.59 | 2.33 | 3.89 | 23.21 | 3.2 | -0.17 | 7.01 | 12.52 | 7.02 | 5.52 | 21.05 | 4.94 | 0.24 | 20.0 | 4.35 | 30.24 | 1.37 | 3.85 | 26.30 | -6.41 | 7.43 | 96.58 | 0.69 | -5.31 | 3.42 | -16.24 | 270.94 | 9.43 | -14.97 | 3.06 |
| 21Q3 (8) | 1.27 | -4.51 | 18.69 | 39.88 | -1.48 | -0.1 | 26.84 | -2.04 | 0.45 | 27.94 | 0.04 | 3.14 | 22.49 | -4.22 | 2.18 | 6.23 | -1.42 | 12.86 | 4.56 | -3.18 | 11.49 | 0.20 | 0.0 | 5.26 | 29.83 | 0.57 | 2.23 | 28.10 | -39.2 | 10.94 | 95.92 | -2.1 | -2.91 | 4.08 | 102.04 | 238.78 | 11.09 | 0.64 | -6.49 |
| 21Q2 (7) | 1.33 | 30.39 | 52.87 | 40.48 | 1.38 | -0.22 | 27.40 | 9.21 | 12.9 | 27.93 | 11.05 | 10.13 | 23.48 | 14.59 | 13.43 | 6.32 | 35.33 | 51.2 | 4.71 | 24.93 | 49.05 | 0.20 | 11.11 | 33.33 | 29.66 | 8.53 | 6.46 | 46.22 | 90.83 | 0.87 | 97.98 | -2.02 | 1.04 | 2.02 | 0 | -55.56 | 11.02 | -9.75 | -18.43 |
| 21Q1 (6) | 1.02 | -24.44 | -0.97 | 39.93 | 1.06 | -2.78 | 25.09 | -10.39 | -1.03 | 25.15 | -8.61 | -5.84 | 20.49 | -11.87 | -5.66 | 4.67 | -28.7 | 0.0 | 3.77 | -28.33 | -1.57 | 0.18 | -21.74 | 0.0 | 27.33 | -6.15 | -4.84 | 24.22 | -1.06 | 11.97 | 100.00 | -1.96 | 5.33 | 0.00 | 100.0 | -100.0 | 12.21 | 33.44 | 1.08 |
| 20Q4 (5) | 1.35 | 26.17 | -6.9 | 39.51 | -1.03 | -2.61 | 28.00 | 4.79 | -1.93 | 27.52 | 1.59 | -5.91 | 23.25 | 5.63 | -3.41 | 6.55 | 18.66 | -5.89 | 5.26 | 28.61 | -5.23 | 0.23 | 21.05 | 0.0 | 29.12 | -0.21 | -5.61 | 24.48 | -3.36 | 7.32 | 102.00 | 3.24 | 4.86 | -2.00 | -266.0 | -173.33 | 9.15 | -22.85 | 5.78 |
| 20Q3 (4) | 1.07 | 22.99 | 0.0 | 39.92 | -1.6 | 0.0 | 26.72 | 10.09 | 0.0 | 27.09 | 6.82 | 0.0 | 22.01 | 6.33 | 0.0 | 5.52 | 32.06 | 0.0 | 4.09 | 29.43 | 0.0 | 0.19 | 26.67 | 0.0 | 29.18 | 4.74 | 0.0 | 25.33 | -44.72 | 0.0 | 98.80 | 1.88 | 0.0 | 1.20 | -73.49 | 0.0 | 11.86 | -12.21 | 0.0 |
| 20Q2 (3) | 0.87 | -15.53 | 0.0 | 40.57 | -1.22 | 0.0 | 24.27 | -4.26 | 0.0 | 25.36 | -5.05 | 0.0 | 20.70 | -4.7 | 0.0 | 4.18 | -10.49 | 0.0 | 3.16 | -17.49 | 0.0 | 0.15 | -16.67 | 0.0 | 27.86 | -2.99 | 0.0 | 45.82 | 111.84 | 0.0 | 96.97 | 2.14 | 0.0 | 4.55 | -10.23 | 0.0 | 13.51 | 11.84 | 0.0 |
| 20Q1 (2) | 1.03 | -28.97 | 0.0 | 41.07 | 1.23 | 0.0 | 25.35 | -11.21 | 0.0 | 26.71 | -8.68 | 0.0 | 21.72 | -9.76 | 0.0 | 4.67 | -32.9 | 0.0 | 3.83 | -30.99 | 0.0 | 0.18 | -21.74 | 0.0 | 28.72 | -6.9 | 0.0 | 21.63 | -5.17 | 0.0 | 94.94 | -2.4 | 0.0 | 5.06 | 85.65 | 0.0 | 12.08 | 39.65 | 0.0 |
| 19Q4 (1) | 1.45 | 0.0 | 0.0 | 40.57 | 0.0 | 0.0 | 28.55 | 0.0 | 0.0 | 29.25 | 0.0 | 0.0 | 24.07 | 0.0 | 0.0 | 6.96 | 0.0 | 0.0 | 5.55 | 0.0 | 0.0 | 0.23 | 0.0 | 0.0 | 30.85 | 0.0 | 0.0 | 22.81 | 0.0 | 0.0 | 97.27 | 0.0 | 0.0 | 2.73 | 0.0 | 0.0 | 8.65 | 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) | 8.12 | 15.83 | 45.22 | 7.21 | 31.78 | 6.43 | 1.41 | 0.99 | 33.44 | 7.15 | 27.51 | 7.97 | 31.63 | 6.68 | 24.19 | 3.95 | 0.88 | -3.3 | 35.01 | 6.97 | 33.14 | 15.79 | 94.98 | -0.77 | 5.02 | 17.31 | 0.09 | -9.61 | 11.07 | 8.21 |
| 2022 (9) | 7.01 | 36.38 | 42.18 | 5.74 | 29.86 | 11.33 | 1.40 | -13.43 | 31.21 | 13.45 | 25.48 | 13.24 | 29.65 | 26.44 | 23.27 | 24.24 | 0.91 | 9.64 | 32.73 | 11.74 | 28.62 | 8.82 | 95.72 | -1.78 | 4.28 | 68.32 | 0.10 | -40.69 | 10.23 | -5.63 |
| 2021 (8) | 5.14 | 18.71 | 39.89 | -0.8 | 26.82 | 2.17 | 1.61 | -14.02 | 27.51 | 2.8 | 22.50 | 2.13 | 23.45 | 16.2 | 18.73 | 14.56 | 0.83 | 12.16 | 29.29 | 1.81 | 26.30 | 7.43 | 97.46 | -0.73 | 2.54 | 39.1 | 0.17 | -6.48 | 10.84 | -5.41 |
| 2020 (7) | 4.33 | -13.57 | 40.21 | -1.47 | 26.25 | -2.99 | 1.87 | 9.86 | 26.76 | -5.41 | 22.03 | -5.08 | 20.18 | -14.64 | 16.35 | -15.5 | 0.74 | -10.84 | 28.77 | -4.48 | 24.48 | 7.32 | 98.17 | 2.47 | 1.83 | -56.44 | 0.18 | 49.28 | 11.46 | 10.3 |
| 2019 (6) | 5.01 | 3.94 | 40.81 | 4.64 | 27.06 | 5.83 | 1.71 | 289.02 | 28.29 | 5.4 | 23.21 | 5.45 | 23.64 | 0.9 | 19.35 | 0.31 | 0.83 | -5.68 | 30.12 | 10.17 | 22.81 | 3.54 | 95.80 | 0.45 | 4.20 | -9.34 | 0.12 | -3.87 | 10.39 | 6.45 |
| 2018 (5) | 4.82 | -1.63 | 39.00 | 1.56 | 25.57 | 0.43 | 0.44 | -14.72 | 26.84 | 2.29 | 22.01 | -2.22 | 23.43 | -5.37 | 19.29 | -4.69 | 0.88 | -2.22 | 27.34 | 1.67 | 22.03 | 5.26 | 95.37 | -1.88 | 4.63 | 50.33 | 0.13 | 0 | 9.76 | 2.09 |
| 2017 (4) | 4.90 | 11.87 | 38.40 | -1.66 | 25.46 | 3.45 | 0.51 | -17.71 | 26.24 | 4.0 | 22.51 | 5.09 | 24.76 | 7.37 | 20.24 | 6.47 | 0.90 | 1.12 | 26.89 | 3.98 | 20.93 | -11.84 | 97.20 | -0.33 | 3.08 | 24.4 | 0.00 | 0 | 9.56 | -0.73 |
| 2016 (3) | 4.38 | 2.82 | 39.05 | 5.6 | 24.61 | 4.41 | 0.62 | 12.95 | 25.23 | 0.24 | 21.42 | 1.9 | 23.06 | -1.24 | 19.01 | -1.5 | 0.89 | -3.26 | 25.86 | 0.35 | 23.74 | 25.87 | 97.52 | 4.07 | 2.48 | -60.62 | 0.00 | 0 | 9.63 | 5.02 |
| 2015 (2) | 4.26 | 6.5 | 36.98 | 7.84 | 23.57 | 7.72 | 0.55 | 18.14 | 25.17 | 7.02 | 21.02 | 9.94 | 23.35 | 1.43 | 19.30 | 3.26 | 0.92 | -6.12 | 25.77 | 7.2 | 18.86 | -18.88 | 93.71 | 0.74 | 6.29 | -9.85 | 0.00 | 0 | 9.17 | 10.88 |
| 2014 (1) | 4.00 | 25.0 | 34.29 | 0 | 21.88 | 0 | 0.47 | 0.14 | 23.52 | 0 | 19.12 | 0 | 23.02 | 0 | 18.69 | 0 | 0.98 | 7.69 | 24.04 | 13.24 | 23.25 | 0.22 | 93.02 | 2.23 | 6.98 | -22.56 | 0.00 | 0 | 8.27 | -6.34 |
