- 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) | 0.79 | 21.54 | -15.05 | 19.87 | 14.72 | 0.97 | 8.20 | 81.42 | 43.36 | 7.79 | 25.24 | -2.62 | 5.90 | 16.14 | -12.07 | 3.95 | 16.18 | -24.9 | 1.82 | 22.97 | -7.14 | 0.30 | 7.14 | 7.14 | 10.76 | 11.97 | -5.2 | 119.07 | -5.81 | -25.39 | 106.25 | 47.3 | 49.12 | -5.00 | -117.94 | -117.39 | 14.59 | -1.08 | -9.27 |
| 24Q2 (19) | 0.65 | 4.84 | -13.33 | 17.32 | 2.0 | -3.51 | 4.52 | 33.73 | -21.93 | 6.22 | -3.27 | -18.16 | 5.08 | -1.55 | -5.75 | 3.40 | 8.63 | -27.97 | 1.48 | 4.96 | -13.95 | 0.28 | 7.69 | 0.0 | 9.61 | -5.23 | -13.42 | 126.41 | -12.29 | -35.31 | 72.13 | 34.96 | -5.97 | 27.87 | -42.27 | 19.67 | 14.75 | -4.9 | 3.8 |
| 24Q1 (18) | 0.62 | -71.3 | 129.63 | 16.98 | 43.05 | 6.06 | 3.38 | 134.42 | 36.84 | 6.43 | -68.77 | 110.13 | 5.16 | -72.58 | 137.79 | 3.13 | -68.98 | 104.58 | 1.41 | -67.21 | 107.35 | 0.26 | 13.04 | -7.14 | 10.14 | -58.78 | 43.83 | 144.13 | 20.61 | -19.78 | 53.45 | 211.52 | -33.83 | 48.28 | -67.37 | 151.03 | 15.51 | -16.75 | 2.72 |
| 23Q4 (17) | 2.16 | 132.26 | 414.29 | 11.87 | -39.68 | -43.23 | -9.82 | -271.68 | -307.17 | 20.59 | 157.38 | 382.2 | 18.82 | 180.48 | 396.57 | 10.09 | 91.83 | 329.36 | 4.30 | 119.39 | 301.87 | 0.23 | -17.86 | -11.54 | 24.60 | 116.74 | 180.82 | 119.50 | -25.12 | -10.27 | -47.93 | -167.27 | -142.75 | 147.93 | 414.54 | 1320.41 | 18.63 | 15.86 | 10.83 |
| 23Q3 (16) | 0.93 | 24.0 | 17.72 | 19.68 | 9.64 | 6.61 | 5.72 | -1.21 | 19.67 | 8.00 | 5.26 | -1.96 | 6.71 | 24.49 | 8.05 | 5.26 | 11.44 | 15.86 | 1.96 | 13.95 | 4.81 | 0.28 | 0.0 | -3.45 | 11.35 | 2.25 | -5.81 | 159.58 | -18.34 | 10.4 | 71.25 | -7.12 | 22.14 | 28.75 | 23.46 | -31.0 | 16.08 | 13.16 | 8.28 |
| 23Q2 (15) | 0.75 | 177.78 | -23.47 | 17.95 | 12.12 | -3.55 | 5.79 | 134.41 | -13.45 | 7.60 | 148.37 | -5.94 | 5.39 | 148.39 | -16.82 | 4.72 | 208.5 | -20.27 | 1.72 | 152.94 | -23.89 | 0.28 | 0.0 | -15.15 | 11.10 | 57.45 | -2.55 | 195.42 | 8.77 | 16.34 | 76.71 | -5.02 | -7.95 | 23.29 | 21.1 | 30.41 | 14.21 | -5.89 | 6.76 |
| 23Q1 (14) | 0.27 | -35.71 | -55.74 | 16.01 | -23.43 | 5.4 | 2.47 | -47.89 | -5.0 | 3.06 | -28.34 | -48.91 | 2.17 | -42.74 | -52.1 | 1.53 | -34.89 | -58.31 | 0.68 | -36.45 | -53.74 | 0.28 | 7.69 | -9.68 | 7.05 | -19.52 | -27.17 | 179.67 | 34.91 | 1.13 | 80.77 | -27.96 | 88.46 | 19.23 | 258.65 | -66.35 | 15.10 | -10.17 | 7.78 |
| 22Q4 (13) | 0.42 | -46.84 | -38.24 | 20.91 | 13.27 | 31.18 | 4.74 | -0.84 | 9.72 | 4.27 | -47.67 | -11.59 | 3.79 | -38.97 | -20.04 | 2.35 | -48.24 | -40.36 | 1.07 | -42.78 | -31.85 | 0.26 | -10.34 | -16.13 | 8.76 | -27.3 | 7.75 | 133.18 | -7.87 | -13.15 | 112.12 | 92.21 | 28.14 | -12.12 | -129.09 | -216.36 | 16.81 | 13.2 | 12.29 |
| 22Q3 (12) | 0.79 | -19.39 | 9.72 | 18.46 | -0.81 | 4.59 | 4.78 | -28.55 | 2.36 | 8.16 | 0.99 | 44.68 | 6.21 | -4.17 | 25.96 | 4.54 | -23.31 | 2.25 | 1.87 | -17.26 | 12.65 | 0.29 | -12.12 | -9.38 | 12.05 | 5.79 | 37.71 | 144.55 | -13.94 | -19.05 | 58.33 | -30.0 | -29.26 | 41.67 | 133.33 | 137.5 | 14.85 | 11.57 | 0.54 |
| 22Q2 (11) | 0.98 | 60.66 | 36.11 | 18.61 | 22.51 | -0.32 | 6.69 | 157.31 | -6.43 | 8.08 | 34.89 | 14.12 | 6.48 | 43.05 | 28.83 | 5.92 | 61.31 | 24.11 | 2.26 | 53.74 | 27.68 | 0.33 | 6.45 | 0.0 | 11.39 | 17.67 | 13.0 | 167.97 | -5.46 | -8.95 | 83.33 | 94.44 | -17.84 | 17.86 | -68.75 | 1350.0 | 13.31 | -5.0 | -6.14 |
| 22Q1 (10) | 0.61 | -10.29 | -17.57 | 15.19 | -4.71 | -17.85 | 2.60 | -39.81 | -63.99 | 5.99 | 24.02 | -17.83 | 4.53 | -4.43 | -15.49 | 3.67 | -6.85 | -24.64 | 1.47 | -6.37 | -23.83 | 0.31 | 0.0 | -8.82 | 9.68 | 19.07 | -6.02 | 177.67 | 15.86 | -2.23 | 42.86 | -51.02 | -57.14 | 57.14 | 448.57 | 3842.86 | 14.01 | -6.41 | 5.34 |
| 21Q4 (9) | 0.68 | -5.56 | 3.03 | 15.94 | -9.69 | -27.18 | 4.32 | -7.49 | -40.66 | 4.83 | -14.36 | -37.11 | 4.74 | -3.85 | -16.7 | 3.94 | -11.26 | -9.63 | 1.57 | -5.42 | -14.21 | 0.31 | -3.13 | 3.33 | 8.13 | -7.09 | -27.35 | 153.35 | -14.12 | 3.11 | 87.50 | 6.12 | -8.05 | 10.42 | -40.62 | 115.28 | 14.97 | 1.35 | -8.94 |
| 21Q3 (8) | 0.72 | 0.0 | 7.46 | 17.65 | -5.46 | -2.54 | 4.67 | -34.69 | -20.17 | 5.64 | -20.34 | -0.88 | 4.93 | -1.99 | -5.92 | 4.44 | -6.92 | -3.27 | 1.66 | -6.21 | -11.23 | 0.32 | -3.03 | -5.88 | 8.75 | -13.19 | -1.24 | 178.57 | -3.2 | 14.56 | 82.46 | -18.71 | -19.16 | 17.54 | 1328.07 | 977.19 | 14.77 | 4.16 | 2.57 |
| 21Q2 (7) | 0.72 | -2.7 | 63.64 | 18.67 | 0.97 | 12.54 | 7.15 | -0.97 | 33.9 | 7.08 | -2.88 | 59.1 | 5.03 | -6.16 | 56.7 | 4.77 | -2.05 | 52.4 | 1.77 | -8.29 | 35.11 | 0.33 | -2.94 | -13.16 | 10.08 | -2.14 | 40.59 | 184.48 | 1.52 | 11.47 | 101.43 | 1.43 | -16.47 | -1.43 | -198.57 | 92.5 | 14.18 | 6.62 | 0 |
| 21Q1 (6) | 0.74 | 12.12 | 196.0 | 18.49 | -15.53 | 14.77 | 7.22 | -0.82 | 127.76 | 7.29 | -5.08 | 116.96 | 5.36 | -5.8 | 118.78 | 4.87 | 11.7 | 170.56 | 1.93 | 5.46 | 132.53 | 0.34 | 13.33 | 17.24 | 10.30 | -7.95 | 44.26 | 181.72 | 22.18 | 17.32 | 100.00 | 5.08 | 9.09 | 1.45 | -70.05 | -65.22 | 13.30 | -19.1 | -16.25 |
| 20Q4 (5) | 0.66 | -1.49 | 266.67 | 21.89 | 20.87 | 17.75 | 7.28 | 24.44 | 289.3 | 7.68 | 34.97 | 154.3 | 5.69 | 8.59 | 249.08 | 4.36 | -5.01 | 232.82 | 1.83 | -2.14 | 185.94 | 0.30 | -11.76 | -6.25 | 11.19 | 26.3 | 69.03 | 148.73 | -4.58 | -6.41 | 95.16 | -6.7 | 56.34 | 4.84 | 341.94 | -87.63 | 16.44 | 14.17 | 4.45 |
| 20Q3 (4) | 0.67 | 52.27 | 0.0 | 18.11 | 9.16 | 0.0 | 5.85 | 9.55 | 0.0 | 5.69 | 27.87 | 0.0 | 5.24 | 63.24 | 0.0 | 4.59 | 46.65 | 0.0 | 1.87 | 42.75 | 0.0 | 0.34 | -10.53 | 0.0 | 8.86 | 23.57 | 0.0 | 155.87 | -5.82 | 0.0 | 102.00 | -16.0 | 0.0 | -2.00 | 89.5 | 0.0 | 14.40 | 0 | 0.0 |
| 20Q2 (3) | 0.44 | 76.0 | 0.0 | 16.59 | 2.98 | 0.0 | 5.34 | 68.45 | 0.0 | 4.45 | 32.44 | 0.0 | 3.21 | 31.02 | 0.0 | 3.13 | 73.89 | 0.0 | 1.31 | 57.83 | 0.0 | 0.38 | 31.03 | 0.0 | 7.17 | 0.42 | 0.0 | 165.50 | 6.85 | 0.0 | 121.43 | 32.47 | 0.0 | -19.05 | -557.14 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.25 | 38.89 | 0.0 | 16.11 | -13.34 | 0.0 | 3.17 | 69.52 | 0.0 | 3.36 | 11.26 | 0.0 | 2.45 | 50.31 | 0.0 | 1.80 | 37.4 | 0.0 | 0.83 | 29.69 | 0.0 | 0.29 | -9.38 | 0.0 | 7.14 | 7.85 | 0.0 | 154.89 | -2.54 | 0.0 | 91.67 | 50.6 | 0.0 | 4.17 | -89.35 | 0.0 | 15.88 | 0.89 | 0.0 |
| 19Q4 (1) | 0.18 | 0.0 | 0.0 | 18.59 | 0.0 | 0.0 | 1.87 | 0.0 | 0.0 | 3.02 | 0.0 | 0.0 | 1.63 | 0.0 | 0.0 | 1.31 | 0.0 | 0.0 | 0.64 | 0.0 | 0.0 | 0.32 | 0.0 | 0.0 | 6.62 | 0.0 | 0.0 | 158.92 | 0.0 | 0.0 | 60.87 | 0.0 | 0.0 | 39.13 | 0.0 | 0.0 | 15.74 | 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) | 4.08 | 45.71 | 16.60 | -8.69 | 1.46 | -69.33 | 3.30 | -1.4 | 9.58 | 41.93 | 8.03 | 50.37 | 20.49 | 30.93 | 9.38 | 37.94 | 1.13 | -6.61 | 13.27 | 25.9 | 119.50 | -10.27 | 15.23 | -78.34 | 84.77 | 185.66 | 0.23 | 38.06 | 15.93 | 9.03 |
| 2022 (9) | 2.80 | -2.1 | 18.18 | 2.83 | 4.76 | -18.21 | 3.35 | 22.02 | 6.75 | 8.87 | 5.34 | 6.59 | 15.65 | -9.49 | 6.80 | -6.21 | 1.21 | -11.68 | 10.54 | 12.97 | 133.18 | -13.15 | 70.33 | -25.07 | 29.67 | 382.71 | 0.17 | 2.79 | 14.61 | 2.03 |
| 2021 (8) | 2.86 | 42.29 | 17.68 | -2.7 | 5.82 | 6.01 | 2.75 | -1.64 | 6.20 | 16.32 | 5.01 | 19.86 | 17.29 | 25.02 | 7.25 | 23.09 | 1.37 | 5.38 | 9.33 | 8.74 | 153.35 | 3.11 | 93.85 | -8.71 | 6.15 | 0 | 0.16 | 45.25 | 14.32 | -1.51 |
| 2020 (7) | 2.01 | 175.34 | 18.17 | 1.57 | 5.49 | 131.65 | 2.79 | -0.78 | 5.33 | 107.39 | 4.18 | 147.34 | 13.83 | 148.29 | 5.89 | 121.43 | 1.30 | 4.0 | 8.58 | 43.96 | 148.73 | -6.41 | 102.81 | 11.5 | -2.81 | 0 | 0.11 | -31.22 | 14.54 | -5.46 |
| 2019 (6) | 0.73 | 0 | 17.89 | -10.86 | 2.37 | -36.46 | 2.81 | 76.27 | 2.57 | -40.65 | 1.69 | 0 | 5.57 | -41.74 | 2.66 | -38.71 | 1.25 | 3.31 | 5.96 | -8.87 | 158.92 | -4.52 | 92.21 | 6.62 | 7.79 | -42.34 | 0.16 | -5.32 | 15.38 | -7.63 |
| 2018 (5) | -0.47 | 0 | 20.07 | -5.29 | 3.73 | 8.43 | 1.60 | -22.76 | 4.33 | 40.58 | -1.23 | 0 | 9.56 | 28.67 | 4.34 | 21.23 | 1.21 | 0.83 | 6.54 | 7.74 | 166.45 | 36.04 | 86.49 | -21.85 | 13.51 | 0 | 0.17 | 0 | 16.65 | 12.5 |
| 2017 (4) | 1.04 | 0.97 | 21.19 | -3.42 | 3.44 | -13.78 | 2.07 | 12.8 | 3.08 | -0.65 | 2.48 | 3.33 | 7.43 | -3.63 | 3.58 | 1.7 | 1.20 | 1.69 | 6.07 | 3.94 | 122.35 | -33.46 | 110.67 | -14.59 | -12.00 | 0 | 0.00 | 0 | 14.80 | -2.63 |
| 2016 (3) | 1.03 | 415.0 | 21.94 | 9.21 | 3.99 | 612.5 | 1.83 | -24.23 | 3.10 | 307.89 | 2.40 | 361.54 | 7.71 | 391.08 | 3.52 | 172.87 | 1.18 | 7.27 | 5.84 | 34.56 | 183.88 | 16.53 | 129.58 | 76.7 | -29.58 | 0 | 0.00 | 0 | 15.20 | -4.1 |
| 2015 (2) | 0.20 | -65.52 | 20.09 | -3.13 | 0.56 | -48.15 | 2.42 | 8.58 | 0.76 | -63.98 | 0.52 | -59.06 | 1.57 | -65.19 | 1.29 | -45.34 | 1.10 | -6.78 | 4.34 | -24.78 | 157.79 | -17.51 | 73.33 | 43.61 | 26.67 | -45.51 | 0.00 | 0 | 15.85 | 6.45 |
| 2014 (1) | 0.58 | 176.19 | 20.74 | 0 | 1.08 | 0 | 2.23 | 4.79 | 2.11 | 0 | 1.27 | 0 | 4.51 | 0 | 2.36 | 0 | 1.18 | 4.42 | 5.77 | 24.35 | 191.29 | -7.39 | 51.06 | 0 | 48.94 | -51.06 | 0.00 | 0 | 14.89 | 5.83 |
