- 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) | 0.92 | 4.55 | -11.54 | 59.78 | 1.25 | -0.53 | 14.47 | 30.83 | 4.93 | 12.20 | 7.68 | -11.85 | 8.85 | -0.23 | -14.58 | 2.35 | 3.07 | -11.99 | 1.69 | 3.68 | -9.63 | 0.18 | 5.88 | 5.88 | 17.46 | 4.24 | -10.74 | 46.78 | -3.57 | -6.92 | 118.18 | 20.83 | 18.18 | -18.83 | -959.96 | -3263.64 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 0.88 | -5.38 | -6.38 | 59.04 | -2.97 | -1.55 | 11.06 | -14.66 | -18.01 | 11.33 | -12.44 | -0.61 | 8.87 | -7.22 | -3.69 | 2.28 | -4.2 | -5.0 | 1.63 | -5.23 | -1.21 | 0.17 | 0.0 | 0.0 | 16.75 | -10.95 | 0.42 | 48.51 | -0.49 | -13.54 | 97.81 | -2.19 | -17.42 | 2.19 | 0 | 111.88 | 42.77 | -1.95 | 3.26 |
| 24Q1 (18) | 0.93 | -19.83 | -41.51 | 60.85 | 2.96 | 0.43 | 12.96 | -11.48 | -31.1 | 12.94 | -10.39 | -29.25 | 9.56 | -10.9 | -30.67 | 2.38 | -20.4 | -40.35 | 1.72 | -19.25 | -35.82 | 0.17 | -10.53 | -10.53 | 18.81 | -5.67 | -17.28 | 48.75 | 2.5 | -14.43 | 100.00 | -1.04 | -2.69 | 0.00 | 100.0 | 100.0 | 43.62 | 17.54 | 13.15 |
| 23Q4 (17) | 1.16 | 11.54 | -39.27 | 59.10 | -1.66 | 1.13 | 14.64 | 6.16 | -17.01 | 14.44 | 4.34 | -18.14 | 10.73 | 3.57 | -29.36 | 2.99 | 11.99 | -38.22 | 2.13 | 13.9 | -33.85 | 0.19 | 11.76 | -9.52 | 19.94 | 1.94 | -8.57 | 47.56 | -5.37 | -5.75 | 101.05 | 1.05 | 1.05 | -1.57 | -363.87 | 0 | 37.11 | -8.84 | 5.76 |
| 23Q3 (16) | 1.04 | 10.64 | -39.18 | 60.10 | 0.22 | 1.42 | 13.79 | 2.22 | -19.92 | 13.84 | 21.4 | -26.81 | 10.36 | 12.49 | -30.75 | 2.67 | 11.25 | -39.18 | 1.87 | 13.33 | -34.15 | 0.17 | 0.0 | -10.53 | 19.56 | 17.27 | -15.87 | 50.26 | -10.43 | -13.6 | 100.00 | -15.57 | 9.75 | 0.60 | 103.23 | -93.3 | 40.71 | -1.71 | 7.27 |
| 23Q2 (15) | 0.94 | -40.88 | -30.88 | 59.97 | -1.02 | 4.04 | 13.49 | -28.28 | 0.0 | 11.40 | -37.67 | -21.11 | 9.21 | -33.21 | -26.73 | 2.40 | -39.85 | -31.43 | 1.65 | -38.43 | -26.34 | 0.17 | -10.53 | 0.0 | 16.68 | -26.65 | -11.79 | 56.11 | -1.51 | -3.94 | 118.44 | 15.25 | 26.61 | -18.44 | -566.46 | -385.82 | 41.42 | 7.44 | 2.52 |
| 23Q1 (14) | 1.59 | -16.75 | 39.47 | 60.59 | 3.68 | 2.97 | 18.81 | 6.63 | 32.93 | 18.29 | 3.68 | 25.7 | 13.79 | -9.22 | 24.68 | 3.99 | -17.56 | 36.18 | 2.68 | -16.77 | 41.05 | 0.19 | -9.52 | 11.76 | 22.74 | 4.26 | 17.82 | 56.97 | 12.9 | -6.05 | 102.77 | 2.77 | 5.72 | -2.77 | 0 | -199.05 | 38.55 | 9.86 | -6.95 |
| 22Q4 (13) | 1.91 | 11.7 | 19.37 | 58.44 | -1.38 | 1.23 | 17.64 | 2.44 | 11.57 | 17.64 | -6.72 | -2.54 | 15.19 | 1.54 | 12.6 | 4.84 | 10.25 | 15.79 | 3.22 | 13.38 | 17.95 | 0.21 | 10.53 | 5.0 | 21.81 | -6.19 | -2.11 | 50.46 | -13.25 | -6.09 | 100.00 | 9.75 | 14.47 | 0.00 | -100.0 | -100.0 | 35.09 | -7.54 | -3.47 |
| 22Q3 (12) | 1.71 | 25.74 | 42.5 | 59.26 | 2.81 | 1.91 | 17.22 | 27.65 | 10.03 | 18.91 | 30.87 | 19.53 | 14.96 | 19.01 | 31.57 | 4.39 | 25.43 | 41.16 | 2.84 | 26.79 | 42.0 | 0.19 | 11.76 | 11.76 | 23.25 | 22.95 | 12.26 | 58.17 | -0.41 | 0.67 | 91.12 | -2.6 | -7.96 | 8.88 | 37.64 | 792.47 | 37.95 | -6.06 | 0.64 |
| 22Q2 (11) | 1.36 | 19.3 | 23.64 | 57.64 | -2.04 | -1.1 | 13.49 | -4.66 | -8.48 | 14.45 | -0.69 | -1.03 | 12.57 | 13.65 | 15.43 | 3.50 | 19.45 | 23.24 | 2.24 | 17.89 | 23.76 | 0.17 | 0.0 | 0.0 | 18.91 | -2.02 | -0.05 | 58.41 | -3.68 | -1.65 | 93.55 | -3.76 | -7.49 | 6.45 | 130.97 | 674.19 | 40.40 | -2.49 | 2.41 |
| 22Q1 (10) | 1.14 | -28.75 | -20.28 | 58.84 | 1.92 | -0.25 | 14.15 | -10.5 | -12.38 | 14.55 | -19.61 | -21.44 | 11.06 | -18.01 | -21.11 | 2.93 | -29.9 | -19.51 | 1.90 | -30.4 | -19.15 | 0.17 | -15.0 | 6.25 | 19.30 | -13.38 | -16.92 | 60.64 | 12.86 | -2.85 | 97.21 | 11.28 | 11.37 | 2.79 | -77.91 | -78.04 | 41.43 | 13.98 | 2.42 |
| 21Q4 (9) | 1.60 | 33.33 | 55.34 | 57.73 | -0.72 | 1.8 | 15.81 | 1.02 | 0.25 | 18.10 | 14.41 | 17.76 | 13.49 | 18.65 | 48.73 | 4.18 | 34.41 | 60.77 | 2.73 | 36.5 | 59.65 | 0.20 | 17.65 | 11.11 | 22.28 | 7.58 | 17.7 | 53.73 | -7.01 | -1.32 | 87.36 | -11.77 | -15.07 | 12.64 | 1170.69 | 542.53 | 36.35 | -3.61 | 4.27 |
| 21Q3 (8) | 1.20 | 9.09 | -12.41 | 58.15 | -0.22 | -1.05 | 15.65 | 6.17 | -7.01 | 15.82 | 8.36 | -10.62 | 11.37 | 4.41 | -16.64 | 3.11 | 9.51 | -10.89 | 2.00 | 10.5 | -8.68 | 0.17 | 0.0 | 6.25 | 20.71 | 9.46 | -3.18 | 57.78 | -2.71 | -1.92 | 99.00 | -2.1 | 4.32 | 1.00 | 188.56 | -80.46 | 37.71 | -4.41 | -0.63 |
| 21Q2 (7) | 1.10 | -23.08 | -85.56 | 58.28 | -1.2 | -2.75 | 14.74 | -8.73 | 186.77 | 14.60 | -21.17 | -83.02 | 10.89 | -22.33 | -87.05 | 2.84 | -21.98 | -86.28 | 1.81 | -22.98 | -85.13 | 0.17 | 6.25 | 21.43 | 18.92 | -18.55 | -79.03 | 59.39 | -4.85 | -10.18 | 101.12 | 15.86 | 1581.18 | -1.12 | -108.83 | -101.2 | 39.45 | -2.47 | 0 |
| 21Q1 (6) | 1.43 | 38.83 | -43.48 | 58.99 | 4.02 | -2.51 | 16.15 | 2.41 | 41.54 | 18.52 | 20.49 | -36.49 | 14.02 | 54.58 | -46.28 | 3.64 | 40.0 | -49.93 | 2.35 | 37.43 | -47.54 | 0.16 | -11.11 | -5.88 | 23.23 | 22.72 | -29.69 | 62.42 | 14.64 | -18.96 | 87.28 | -15.14 | 122.17 | 12.72 | 545.18 | -79.15 | 40.45 | 16.04 | -6.37 |
| 20Q4 (5) | 1.03 | -24.82 | -55.22 | 56.71 | -3.51 | -7.38 | 15.77 | -6.3 | -6.52 | 15.37 | -13.16 | -33.29 | 9.07 | -33.5 | -56.1 | 2.60 | -25.5 | -60.49 | 1.71 | -21.92 | -60.69 | 0.18 | 12.5 | -14.29 | 18.93 | -11.5 | -28.35 | 54.45 | -7.57 | 1.38 | 102.86 | 8.38 | 40.8 | -2.86 | -156.1 | -110.73 | 34.86 | -8.14 | 0.17 |
| 20Q3 (4) | 1.37 | -82.02 | 0.0 | 58.77 | -1.94 | 0.0 | 16.83 | 227.43 | 0.0 | 17.70 | -79.42 | 0.0 | 13.64 | -83.78 | 0.0 | 3.49 | -83.14 | 0.0 | 2.19 | -82.0 | 0.0 | 0.16 | 14.29 | 0.0 | 21.39 | -76.29 | 0.0 | 58.91 | -10.9 | 0.0 | 94.91 | 1477.84 | 0.0 | 5.09 | -94.58 | 0.0 | 37.95 | 0 | 0.0 |
| 20Q2 (3) | 7.62 | 201.19 | 0.0 | 59.93 | -0.96 | 0.0 | 5.14 | -54.95 | 0.0 | 86.00 | 194.92 | 0.0 | 84.11 | 222.26 | 0.0 | 20.70 | 184.73 | 0.0 | 12.17 | 171.65 | 0.0 | 0.14 | -17.65 | 0.0 | 90.21 | 173.03 | 0.0 | 66.12 | -14.15 | 0.0 | 6.02 | -84.69 | 0.0 | 93.98 | 54.04 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 2.53 | 10.0 | 0.0 | 60.51 | -1.18 | 0.0 | 11.41 | -32.37 | 0.0 | 29.16 | 26.56 | 0.0 | 26.10 | 26.33 | 0.0 | 7.27 | 10.49 | 0.0 | 4.48 | 2.99 | 0.0 | 0.17 | -19.05 | 0.0 | 33.04 | 25.06 | 0.0 | 77.02 | 43.4 | 0.0 | 39.29 | -46.22 | 0.0 | 61.01 | 129.17 | 0.0 | 43.20 | 24.14 | 0.0 |
| 19Q4 (1) | 2.30 | 0.0 | 0.0 | 61.23 | 0.0 | 0.0 | 16.87 | 0.0 | 0.0 | 23.04 | 0.0 | 0.0 | 20.66 | 0.0 | 0.0 | 6.58 | 0.0 | 0.0 | 4.35 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 26.42 | 0.0 | 0.0 | 53.71 | 0.0 | 0.0 | 73.05 | 0.0 | 0.0 | 26.62 | 0.0 | 0.0 | 34.80 | 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) | 4.73 | -22.59 | 59.94 | 2.37 | 15.28 | -2.92 | 4.38 | 10.15 | 14.61 | -11.4 | 11.10 | -18.14 | 11.81 | -22.4 | 8.39 | -18.15 | 0.71 | -4.05 | 19.82 | -5.3 | 47.56 | -5.75 | 104.65 | 9.57 | -4.65 | 0 | 0.06 | -40.76 | 39.38 | 2.21 |
| 2022 (9) | 6.11 | 14.63 | 58.55 | 0.5 | 15.74 | 0.9 | 3.98 | -2.61 | 16.49 | -1.9 | 13.56 | 8.65 | 15.22 | 13.33 | 10.25 | 15.04 | 0.74 | 5.71 | 20.93 | -1.74 | 50.46 | -6.09 | 95.51 | 2.99 | 4.60 | -36.6 | 0.10 | -30.54 | 38.53 | 0.34 |
| 2021 (8) | 5.33 | -57.53 | 58.26 | -1.02 | 15.60 | 23.71 | 4.09 | 22.43 | 16.81 | -52.11 | 12.48 | -59.92 | 13.43 | -58.95 | 8.91 | -58.5 | 0.70 | 2.94 | 21.30 | -45.29 | 53.73 | -1.32 | 92.74 | 158.24 | 7.26 | -88.67 | 0.14 | -26.62 | 38.40 | -6.46 |
| 2020 (7) | 12.55 | 107.44 | 58.86 | -2.5 | 12.61 | -18.28 | 3.34 | 11.98 | 35.10 | 96.75 | 31.14 | 115.65 | 32.72 | 100.74 | 21.47 | 95.89 | 0.68 | -6.85 | 38.93 | 81.75 | 54.45 | 1.38 | 35.91 | -58.44 | 64.09 | 375.62 | 0.19 | 314.59 | 41.05 | 10.14 |
| 2019 (6) | 6.05 | -54.13 | 60.37 | 2.6 | 15.43 | -3.86 | 2.98 | 73.23 | 17.84 | -50.31 | 14.44 | -52.95 | 16.30 | -57.36 | 10.96 | -55.56 | 0.73 | -8.75 | 21.42 | -43.59 | 53.71 | 0.19 | 86.41 | 93.34 | 13.47 | -75.64 | 0.05 | 5.84 | 37.27 | 2.73 |
| 2018 (5) | 13.19 | 116.94 | 58.84 | -0.47 | 16.05 | -10.39 | 1.72 | -5.43 | 35.90 | 87.57 | 30.69 | 105.7 | 38.23 | 92.4 | 24.66 | 92.36 | 0.80 | -5.88 | 37.97 | 78.68 | 53.61 | -10.72 | 44.70 | -52.23 | 55.30 | 758.58 | 0.04 | 0 | 36.28 | 5.96 |
| 2017 (4) | 6.08 | -7.88 | 59.12 | -1.5 | 17.91 | -5.93 | 1.82 | 10.86 | 19.14 | -6.31 | 14.92 | -7.44 | 19.87 | -9.31 | 12.82 | -9.91 | 0.85 | -2.3 | 21.25 | -4.75 | 60.05 | 9.2 | 93.56 | 0.33 | 6.44 | -4.52 | 0.00 | 0 | 34.24 | 2.64 |
| 2016 (3) | 6.60 | 11.86 | 60.02 | 2.93 | 19.04 | 5.31 | 1.64 | -2.18 | 20.43 | 7.19 | 16.12 | 9.51 | 21.91 | 8.2 | 14.23 | 10.14 | 0.87 | 0.0 | 22.31 | 6.39 | 54.99 | -3.73 | 93.25 | -1.68 | 6.75 | 30.99 | 0.00 | 0 | 33.36 | 4.22 |
| 2015 (2) | 5.90 | -7.38 | 58.31 | -0.77 | 18.08 | -12.57 | 1.68 | -4.46 | 19.06 | -11.31 | 14.72 | -7.19 | 20.25 | -9.6 | 12.92 | -8.89 | 0.87 | -1.14 | 20.97 | -10.99 | 57.12 | -5.38 | 94.85 | -1.4 | 5.15 | 35.58 | 0.00 | 0 | 32.01 | 3.06 |
| 2014 (1) | 6.37 | 2.74 | 58.76 | 0 | 20.68 | 0 | 1.76 | -14.62 | 21.49 | 0 | 15.86 | 0 | 22.40 | 0 | 14.18 | 0 | 0.88 | -1.12 | 23.56 | 2.75 | 60.37 | -0.54 | 96.20 | 0.26 | 3.80 | -8.54 | 0.00 | 0 | 31.06 | -1.4 |
