- 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) | 2.21 | -3.07 | -6.36 | 20.99 | 2.59 | -6.5 | 11.97 | 16.55 | -3.86 | 10.65 | -16.99 | -12.2 | 8.56 | -16.49 | -11.48 | 6.24 | -11.49 | -18.0 | 2.91 | -7.32 | -16.86 | 0.33 | 10.0 | -5.71 | 13.77 | -14.89 | -10.06 | 120.04 | 2.24 | -3.34 | 112.32 | 40.49 | 9.36 | -12.32 | -161.7 | -369.31 | 13.59 | -9.58 | -0.15 |
| 24Q2 (19) | 2.28 | 34.12 | 15.15 | 20.46 | -1.68 | 0.79 | 10.27 | 5.44 | 6.65 | 12.83 | 22.78 | 19.02 | 10.25 | 21.16 | 20.31 | 7.05 | 35.06 | 2.62 | 3.14 | 34.76 | 3.29 | 0.30 | 11.11 | -14.29 | 16.18 | 15.49 | 13.7 | 117.41 | -15.75 | -2.27 | 79.95 | -14.24 | -10.47 | 19.96 | 189.49 | 86.59 | 15.03 | -1.7 | 12.08 |
| 24Q1 (18) | 1.70 | -30.89 | 15.65 | 20.81 | -10.03 | 11.46 | 9.74 | -22.33 | 11.19 | 10.45 | -24.66 | 17.55 | 8.46 | -22.39 | 20.68 | 5.22 | -28.79 | 7.63 | 2.33 | -30.45 | 5.43 | 0.27 | -12.9 | -10.0 | 14.01 | -17.88 | 8.77 | 139.36 | 18.88 | -3.34 | 93.22 | 3.21 | -5.37 | 6.90 | -28.16 | 362.07 | 15.29 | 1.66 | 17.52 |
| 23Q4 (17) | 2.46 | 4.24 | 29.47 | 23.13 | 3.03 | 12.94 | 12.54 | 0.72 | 23.55 | 13.87 | 14.34 | 34.79 | 10.90 | 12.72 | 37.8 | 7.33 | -3.68 | 20.76 | 3.35 | -4.29 | 24.07 | 0.31 | -11.43 | -6.06 | 17.06 | 11.43 | 23.18 | 117.23 | -5.6 | 1.1 | 90.32 | -12.06 | -8.37 | 9.60 | 465.73 | 622.22 | 15.04 | 10.51 | 7.74 |
| 23Q3 (16) | 2.36 | 19.19 | -3.28 | 22.45 | 10.59 | 9.3 | 12.45 | 29.28 | 8.92 | 12.13 | 12.52 | 9.08 | 9.67 | 13.5 | 8.04 | 7.61 | 10.77 | -9.19 | 3.50 | 15.13 | 5.42 | 0.35 | 0.0 | -2.78 | 15.31 | 7.59 | 7.06 | 124.19 | 3.37 | -18.09 | 102.71 | 15.02 | -0.12 | -2.62 | -124.53 | 7.28 | 13.61 | 1.49 | 2.72 |
| 23Q2 (15) | 1.98 | 34.69 | 1.54 | 20.30 | 8.73 | 21.05 | 9.63 | 9.93 | 22.05 | 10.78 | 21.26 | 17.05 | 8.52 | 21.54 | 13.3 | 6.87 | 41.65 | -6.15 | 3.04 | 37.56 | 16.92 | 0.35 | 16.67 | 2.94 | 14.23 | 10.48 | 14.57 | 120.14 | -16.67 | -29.61 | 89.30 | -9.35 | 4.29 | 10.70 | 616.9 | -25.57 | 13.41 | 3.07 | -0.45 |
| 23Q1 (14) | 1.47 | -22.63 | -23.83 | 18.67 | -8.84 | 12.4 | 8.76 | -13.69 | 1.27 | 8.89 | -13.61 | -0.67 | 7.01 | -11.38 | -2.77 | 4.85 | -20.1 | -32.07 | 2.21 | -18.15 | -11.95 | 0.30 | -9.09 | -11.76 | 12.88 | -7.0 | 8.97 | 144.17 | 24.33 | -30.07 | 98.51 | -0.06 | 1.87 | 1.49 | 12.28 | -54.79 | 13.01 | -6.81 | 7.08 |
| 22Q4 (13) | 1.90 | -22.13 | -3.06 | 20.48 | -0.29 | 13.59 | 10.15 | -11.2 | 19.13 | 10.29 | -7.46 | 11.97 | 7.91 | -11.62 | 9.41 | 6.07 | -27.57 | -15.58 | 2.70 | -18.67 | 2.66 | 0.33 | -8.33 | -8.33 | 13.85 | -3.15 | 15.51 | 115.96 | -23.52 | -31.81 | 98.57 | -4.15 | 6.41 | 1.33 | 146.95 | -81.96 | 13.96 | 5.36 | 1.23 |
| 22Q3 (12) | 2.44 | 25.13 | 16.75 | 20.54 | 22.48 | 12.86 | 11.43 | 44.87 | 24.37 | 11.12 | 20.74 | 11.42 | 8.95 | 19.02 | 10.49 | 8.38 | 14.48 | 0.84 | 3.32 | 27.69 | 12.93 | 0.36 | 5.88 | 0.0 | 14.30 | 15.14 | 12.16 | 151.62 | -11.17 | -16.8 | 102.83 | 20.1 | 11.67 | -2.83 | -119.69 | -135.78 | 13.25 | -1.63 | -0.15 |
| 22Q2 (11) | 1.95 | 1.04 | 16.07 | 16.77 | 0.96 | -6.78 | 7.89 | -8.79 | -9.83 | 9.21 | 2.91 | 5.5 | 7.52 | 4.3 | 9.78 | 7.32 | 2.52 | 0.55 | 2.60 | 3.59 | 7.0 | 0.34 | 0.0 | -2.86 | 12.42 | 5.08 | 8.95 | 170.68 | -17.21 | -9.74 | 85.62 | -11.45 | -14.48 | 14.38 | 335.46 | 6145.24 | 13.47 | 10.86 | -5.34 |
| 22Q1 (10) | 1.93 | -1.53 | 29.53 | 16.61 | -7.88 | 0.67 | 8.65 | 1.53 | 11.61 | 8.95 | -2.61 | 18.86 | 7.21 | -0.28 | 23.88 | 7.14 | -0.7 | 11.74 | 2.51 | -4.56 | 12.56 | 0.34 | -5.56 | -10.53 | 11.82 | -1.42 | 18.44 | 206.16 | 21.23 | -5.08 | 96.70 | 4.39 | -5.93 | 3.30 | -55.2 | 212.85 | 12.15 | -11.89 | -3.95 |
| 21Q4 (9) | 1.96 | -6.22 | 30.67 | 18.03 | -0.93 | 1.41 | 8.52 | -7.29 | 18.83 | 9.19 | -7.92 | 19.04 | 7.23 | -10.74 | 16.8 | 7.19 | -13.48 | 15.22 | 2.63 | -10.54 | 10.97 | 0.36 | 0.0 | -5.26 | 11.99 | -5.96 | 16.98 | 170.06 | -6.68 | 3.63 | 92.63 | 0.59 | -0.25 | 7.37 | -6.87 | 5.38 | 13.79 | 3.92 | -6.25 |
| 21Q3 (8) | 2.09 | 24.4 | 10.58 | 18.20 | 1.17 | -10.74 | 9.19 | 5.03 | -11.8 | 9.98 | 14.32 | 1.53 | 8.10 | 18.25 | 6.58 | 8.31 | 14.15 | -4.48 | 2.94 | 20.99 | -7.55 | 0.36 | 2.86 | -14.29 | 12.75 | 11.84 | 5.9 | 182.23 | -3.63 | 8.48 | 92.09 | -8.02 | -13.13 | 7.91 | 3427.4 | 231.74 | 13.27 | -6.75 | -5.48 |
| 21Q2 (7) | 1.68 | 12.75 | -5.62 | 17.99 | 9.03 | -6.98 | 8.75 | 12.9 | 1.04 | 8.73 | 15.94 | -8.68 | 6.85 | 17.7 | -8.05 | 7.28 | 13.93 | -19.82 | 2.43 | 8.97 | -26.81 | 0.35 | -7.89 | -20.45 | 11.40 | 14.23 | -1.89 | 189.09 | -12.94 | 2.66 | 100.12 | -2.6 | 10.51 | -0.24 | 91.87 | -102.53 | 14.23 | 12.49 | 0 |
| 21Q1 (6) | 1.49 | -0.67 | 325.71 | 16.50 | -7.2 | 8.77 | 7.75 | 8.09 | 46.23 | 7.53 | -2.46 | 189.62 | 5.82 | -5.98 | 196.94 | 6.39 | 2.4 | 275.88 | 2.23 | -5.91 | 232.84 | 0.38 | 0.0 | 15.15 | 9.98 | -2.63 | 84.47 | 217.19 | 32.34 | 30.39 | 102.79 | 10.69 | -49.47 | -2.93 | -141.84 | 97.17 | 12.65 | -14.0 | -0.71 |
| 20Q4 (5) | 1.50 | -20.63 | 47.06 | 17.78 | -12.8 | 6.28 | 7.17 | -31.19 | 21.94 | 7.72 | -21.46 | 28.24 | 6.19 | -18.55 | 43.95 | 6.24 | -28.28 | 33.05 | 2.37 | -25.47 | 39.41 | 0.38 | -9.52 | -2.56 | 10.25 | -14.87 | 26.7 | 164.11 | -2.3 | 1.44 | 92.87 | -12.39 | -5.0 | 6.99 | 216.43 | 211.77 | 14.71 | 4.77 | 0 |
| 20Q3 (4) | 1.89 | 6.18 | 0.0 | 20.39 | 5.43 | 0.0 | 10.42 | 20.32 | 0.0 | 9.83 | 2.82 | 0.0 | 7.60 | 2.01 | 0.0 | 8.70 | -4.19 | 0.0 | 3.18 | -4.22 | 0.0 | 0.42 | -4.55 | 0.0 | 12.04 | 3.61 | 0.0 | 167.98 | -8.8 | 0.0 | 106.01 | 17.0 | 0.0 | -6.01 | -163.9 | 0.0 | 14.04 | 0 | 0.0 |
| 20Q2 (3) | 1.78 | 408.57 | 0.0 | 19.34 | 27.49 | 0.0 | 8.66 | 63.4 | 0.0 | 9.56 | 267.69 | 0.0 | 7.45 | 280.1 | 0.0 | 9.08 | 434.12 | 0.0 | 3.32 | 395.52 | 0.0 | 0.44 | 33.33 | 0.0 | 11.62 | 114.79 | 0.0 | 184.19 | 10.58 | 0.0 | 90.60 | -55.46 | 0.0 | 9.40 | 109.09 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.35 | -65.69 | 0.0 | 15.17 | -9.32 | 0.0 | 5.30 | -9.86 | 0.0 | 2.60 | -56.81 | 0.0 | 1.96 | -54.42 | 0.0 | 1.70 | -63.75 | 0.0 | 0.67 | -60.59 | 0.0 | 0.33 | -15.38 | 0.0 | 5.41 | -33.13 | 0.0 | 166.57 | 2.96 | 0.0 | 203.43 | 108.1 | 0.0 | -103.43 | -4711.19 | 0.0 | 12.74 | 0 | 0.0 |
| 19Q4 (1) | 1.02 | 0.0 | 0.0 | 16.73 | 0.0 | 0.0 | 5.88 | 0.0 | 0.0 | 6.02 | 0.0 | 0.0 | 4.30 | 0.0 | 0.0 | 4.69 | 0.0 | 0.0 | 1.70 | 0.0 | 0.0 | 0.39 | 0.0 | 0.0 | 8.09 | 0.0 | 0.0 | 161.78 | 0.0 | 0.0 | 97.76 | 0.0 | 0.0 | 2.24 | 0.0 | 0.0 | 0.00 | 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) | 8.27 | 0.61 | 21.21 | 14.16 | 10.91 | 14.36 | 3.02 | 8.93 | 11.48 | 16.08 | 9.07 | 14.66 | 24.87 | -8.8 | 11.74 | 1.12 | 1.27 | -11.19 | 14.91 | 13.9 | 117.23 | 1.1 | 95.03 | -1.42 | 4.97 | 38.21 | 0.35 | 43.27 | 13.78 | 4.47 |
| 2022 (9) | 8.22 | 13.85 | 18.58 | 5.03 | 9.54 | 11.58 | 2.78 | 13.64 | 9.89 | 11.5 | 7.91 | 12.84 | 27.27 | -0.47 | 11.61 | 12.17 | 1.43 | -2.05 | 13.09 | 13.43 | 115.96 | -31.81 | 96.41 | 0.01 | 3.59 | -0.28 | 0.24 | -11.63 | 13.19 | -2.15 |
| 2021 (8) | 7.22 | 30.8 | 17.69 | -3.91 | 8.55 | 5.43 | 2.44 | 14.93 | 8.87 | 13.57 | 7.01 | 14.92 | 27.40 | 14.93 | 10.35 | 12.87 | 1.46 | -2.01 | 11.54 | 13.36 | 170.06 | 3.63 | 96.40 | -7.18 | 3.60 | 0 | 0.28 | 2.37 | 13.48 | -5.34 |
| 2020 (7) | 5.52 | 22.39 | 18.41 | 12.46 | 8.11 | 26.92 | 2.13 | 10.33 | 7.81 | 21.09 | 6.10 | 22.24 | 23.84 | 8.66 | 9.17 | 13.77 | 1.49 | -5.7 | 10.18 | 17.15 | 164.11 | 1.44 | 103.86 | 4.8 | -3.82 | 0 | 0.27 | -47.95 | 14.24 | 7.31 |
| 2019 (6) | 4.51 | 65.81 | 16.37 | 16.85 | 6.39 | 40.44 | 1.93 | -0.19 | 6.45 | 51.05 | 4.99 | 52.6 | 21.94 | 59.56 | 8.06 | 59.6 | 1.58 | 6.76 | 8.69 | 32.67 | 161.78 | -18.31 | 99.10 | -6.96 | 0.90 | 0 | 0.52 | -41.48 | 13.27 | -2.57 |
| 2018 (5) | 2.72 | -35.39 | 14.01 | -18.5 | 4.55 | -22.35 | 1.93 | -0.55 | 4.27 | -38.47 | 3.27 | -41.61 | 13.75 | -35.32 | 5.05 | -36.8 | 1.48 | 5.71 | 6.55 | -28.88 | 198.04 | 16.19 | 106.52 | 26.14 | -6.59 | 0 | 0.89 | 0 | 13.62 | -2.44 |
| 2017 (4) | 4.21 | 13.48 | 17.19 | 2.93 | 5.86 | 11.83 | 1.94 | -1.09 | 6.94 | 11.22 | 5.60 | 14.75 | 21.26 | 9.53 | 7.99 | 10.06 | 1.40 | -3.45 | 9.21 | 8.35 | 170.45 | -0.99 | 84.44 | 0.48 | 15.56 | -2.51 | 0.00 | 0 | 13.96 | 2.95 |
| 2016 (3) | 3.71 | 15.22 | 16.70 | 7.46 | 5.24 | 13.67 | 1.96 | -4.87 | 6.24 | 17.74 | 4.88 | 12.7 | 19.41 | 11.94 | 7.26 | 12.73 | 1.45 | 0.69 | 8.50 | 10.82 | 172.15 | -1.76 | 84.04 | -3.45 | 15.96 | 23.17 | 0.00 | 0 | 13.56 | 0.15 |
| 2015 (2) | 3.22 | 1.9 | 15.54 | 7.99 | 4.61 | 14.68 | 2.06 | 13.71 | 5.30 | 7.07 | 4.33 | 4.09 | 17.34 | -2.64 | 6.44 | -1.83 | 1.44 | -6.49 | 7.67 | 9.57 | 175.23 | -2.22 | 87.05 | 7.07 | 12.95 | -30.72 | 0.00 | 0 | 13.54 | 4.8 |
| 2014 (1) | 3.16 | 30.58 | 14.39 | 0 | 4.02 | 0 | 1.81 | 4.97 | 4.95 | 0 | 4.16 | 0 | 17.81 | 0 | 6.56 | 0 | 1.54 | -3.75 | 7.00 | 12.9 | 179.21 | 1.19 | 81.30 | -34.61 | 18.70 | 0 | 0.00 | 0 | 12.92 | 4.45 |
