- 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) | 5.03 | 35.95 | -16.45 | 20.32 | 8.37 | 0.4 | 4.55 | 42.63 | -1.3 | 5.78 | 22.72 | -12.56 | 4.52 | 34.52 | -12.57 | 3.29 | 40.6 | 1.86 | 1.43 | 32.41 | -4.67 | 0.26 | 4.0 | 4.0 | 10.37 | 11.87 | 3.7 | 170.91 | -7.51 | 15.52 | 78.55 | 15.8 | 12.82 | 21.40 | -33.58 | -29.54 | 15.08 | -6.57 | 7.79 |
| 24Q2 (19) | 3.70 | -20.77 | -28.02 | 18.75 | -6.81 | -5.26 | 3.19 | 7.77 | -37.2 | 4.71 | -8.72 | -40.23 | 3.36 | -18.45 | -37.78 | 2.34 | -10.69 | -31.38 | 1.08 | -9.24 | -26.03 | 0.25 | 4.17 | 0.0 | 9.27 | 3.81 | -15.8 | 184.79 | 7.76 | 19.01 | 67.84 | 18.1 | 5.21 | 32.22 | -24.29 | -9.29 | 16.14 | 10.17 | 16.87 |
| 24Q1 (18) | 4.67 | 30.45 | 0.65 | 20.12 | 9.47 | 3.98 | 2.96 | -5.43 | -34.22 | 5.16 | 61.76 | -5.84 | 4.12 | 26.38 | 0.0 | 2.62 | 18.55 | -4.73 | 1.19 | 11.21 | 4.39 | 0.24 | -11.11 | 0.0 | 8.93 | 37.6 | 5.06 | 171.48 | 10.48 | -2.53 | 57.44 | -41.49 | -30.16 | 42.56 | 2221.69 | 139.69 | 14.65 | 10.9 | 14.63 |
| 23Q4 (17) | 3.58 | -40.53 | -81.46 | 18.38 | -9.19 | 10.52 | 3.13 | -32.1 | 126.81 | 3.19 | -51.74 | 357.26 | 3.26 | -36.94 | -84.38 | 2.21 | -31.58 | 237.27 | 1.07 | -28.67 | 389.19 | 0.27 | 8.0 | -6.9 | 6.49 | -35.1 | 42.64 | 155.21 | 4.91 | -13.42 | 98.17 | 40.99 | 188.14 | 1.83 | -93.96 | -99.13 | 13.21 | -5.58 | 19.55 |
| 23Q3 (16) | 6.02 | 17.12 | -2.27 | 20.24 | 2.27 | 14.54 | 4.61 | -9.25 | 28.77 | 6.61 | -16.12 | 10.54 | 5.17 | -4.26 | 6.38 | 3.23 | -5.28 | -16.32 | 1.50 | 2.74 | 12.78 | 0.25 | 0.0 | -7.41 | 10.00 | -9.17 | 12.49 | 147.95 | -4.71 | -31.78 | 69.63 | 7.99 | 16.31 | 30.37 | -14.5 | -24.22 | 13.99 | 1.3 | 17.76 |
| 23Q2 (15) | 5.14 | 10.78 | 23.26 | 19.79 | 2.27 | 5.89 | 5.08 | 12.89 | 27.64 | 7.88 | 43.8 | 35.4 | 5.40 | 31.07 | 19.21 | 3.41 | 24.0 | 17.59 | 1.46 | 28.07 | 39.05 | 0.25 | 4.17 | 4.17 | 11.01 | 29.53 | 17.38 | 155.27 | -11.75 | -25.08 | 64.48 | -21.6 | -5.6 | 35.52 | 100.06 | 12.07 | 13.81 | 8.06 | 32.41 |
| 23Q1 (14) | 4.64 | -75.97 | 55.7 | 19.35 | 16.36 | -5.01 | 4.50 | 226.09 | 57.89 | 5.48 | 541.94 | 22.05 | 4.12 | -80.26 | 16.71 | 2.75 | 270.81 | 25.57 | 1.14 | 408.11 | 42.5 | 0.24 | -17.24 | 14.29 | 8.50 | 86.81 | -1.51 | 175.94 | -1.86 | -12.52 | 82.24 | 173.84 | 29.35 | 17.76 | -91.6 | -51.38 | 12.78 | 15.66 | -27.84 |
| 22Q4 (13) | 19.31 | 213.47 | 267.11 | 16.63 | -5.89 | -9.52 | 1.38 | -61.45 | -46.09 | -1.24 | -120.74 | -123.8 | 20.87 | 329.42 | 423.06 | -1.61 | -141.71 | -140.35 | -0.37 | -127.82 | -127.61 | 0.29 | 7.41 | -6.45 | 4.55 | -48.82 | -45.64 | 179.27 | -17.33 | -18.8 | -111.38 | -286.06 | -327.39 | 211.38 | 427.39 | 314.33 | 11.05 | -6.99 | -22.84 |
| 22Q3 (12) | 6.16 | 47.72 | 66.49 | 17.67 | -5.46 | -17.97 | 3.58 | -10.05 | -6.77 | 5.98 | 2.75 | 34.08 | 4.86 | 7.28 | 31.71 | 3.86 | 33.1 | 29.97 | 1.33 | 26.67 | 27.88 | 0.27 | 12.5 | 8.0 | 8.89 | -5.22 | 7.63 | 216.86 | 4.64 | -4.22 | 59.86 | -12.36 | -30.48 | 40.08 | 26.44 | 188.58 | 11.88 | 13.9 | -22.4 |
| 22Q2 (11) | 4.17 | 39.93 | 41.36 | 18.69 | -8.25 | -17.15 | 3.98 | 39.65 | -1.97 | 5.82 | 29.62 | 44.42 | 4.53 | 28.33 | 38.53 | 2.90 | 32.42 | 15.08 | 1.05 | 31.25 | 12.9 | 0.24 | 14.29 | -4.0 | 9.38 | 8.69 | 13.83 | 207.25 | 3.05 | -4.12 | 68.30 | 7.43 | -32.22 | 31.70 | -13.21 | 4257.05 | 10.43 | -41.11 | -32.49 |
| 22Q1 (10) | 2.98 | -43.35 | 49.0 | 20.37 | 10.83 | -13.5 | 2.85 | 11.33 | -4.04 | 4.49 | -13.82 | 26.84 | 3.53 | -11.53 | 32.71 | 2.19 | -45.11 | 23.03 | 0.80 | -40.3 | 14.29 | 0.21 | -32.26 | -4.55 | 8.63 | 3.11 | 6.41 | 201.11 | -8.91 | -3.65 | 63.58 | 29.8 | -24.11 | 36.52 | -28.41 | 125.12 | 17.71 | 23.67 | 1.37 |
| 21Q4 (9) | 5.26 | 42.16 | 39.89 | 18.38 | -14.67 | -15.03 | 2.56 | -33.33 | -43.36 | 5.21 | 16.82 | 5.68 | 3.99 | 8.13 | -6.34 | 3.99 | 34.34 | 5.28 | 1.34 | 28.85 | -2.19 | 0.31 | 24.0 | 6.9 | 8.37 | 1.33 | -4.45 | 220.77 | -2.49 | 7.25 | 48.98 | -43.12 | -46.56 | 51.02 | 267.33 | 512.21 | 14.32 | -6.47 | -0.9 |
| 21Q3 (8) | 3.70 | 25.42 | 26.71 | 21.54 | -4.52 | -1.91 | 3.84 | -5.42 | -17.6 | 4.46 | 10.67 | -1.55 | 3.69 | 12.84 | 5.13 | 2.97 | 17.86 | 13.79 | 1.04 | 11.83 | 8.33 | 0.25 | 0.0 | 4.17 | 8.26 | 0.24 | -0.36 | 226.41 | 4.75 | 9.12 | 86.11 | -14.54 | -16.16 | 13.89 | 1921.43 | 611.75 | 15.31 | -0.91 | 6.84 |
| 21Q2 (7) | 2.95 | 47.5 | -18.51 | 22.56 | -4.2 | -10.05 | 4.06 | 36.7 | -13.8 | 4.03 | 13.84 | -26.73 | 3.27 | 22.93 | -18.05 | 2.52 | 41.57 | -4.91 | 0.93 | 32.86 | -5.1 | 0.25 | 13.64 | 13.64 | 8.24 | 1.6 | -18.42 | 216.15 | 3.55 | 2.48 | 100.76 | 20.28 | 17.46 | -0.76 | -104.7 | -105.36 | 15.45 | -11.56 | 0 |
| 21Q1 (6) | 2.00 | -46.81 | -10.71 | 23.55 | 8.88 | -7.76 | 2.97 | -34.29 | -13.91 | 3.54 | -28.19 | -6.6 | 2.66 | -37.56 | -10.44 | 1.78 | -53.03 | -6.32 | 0.70 | -48.91 | -4.11 | 0.22 | -24.14 | 4.76 | 8.11 | -7.42 | -3.8 | 208.73 | 1.4 | 3.72 | 83.78 | -8.61 | -7.94 | 16.22 | 94.69 | 80.32 | 17.47 | 20.9 | 4.24 |
| 20Q4 (5) | 3.76 | 28.77 | -17.0 | 21.63 | -1.5 | -8.15 | 4.52 | -3.0 | -8.5 | 4.93 | 8.83 | -7.16 | 4.26 | 21.37 | 0.24 | 3.79 | 45.21 | 0.8 | 1.37 | 42.71 | 3.01 | 0.29 | 20.83 | 3.57 | 8.76 | 5.67 | -1.57 | 205.84 | -0.79 | -5.91 | 91.67 | -10.76 | -1.45 | 8.33 | 407.05 | 19.32 | 14.45 | 0.84 | 15.51 |
| 20Q3 (4) | 2.92 | -19.34 | 0.0 | 21.96 | -12.44 | 0.0 | 4.66 | -1.06 | 0.0 | 4.53 | -17.64 | 0.0 | 3.51 | -12.03 | 0.0 | 2.61 | -1.51 | 0.0 | 0.96 | -2.04 | 0.0 | 0.24 | 9.09 | 0.0 | 8.29 | -17.92 | 0.0 | 207.48 | -1.63 | 0.0 | 102.71 | 19.74 | 0.0 | -2.71 | -119.09 | 0.0 | 14.33 | 0 | 0.0 |
| 20Q2 (3) | 3.62 | 61.61 | 0.0 | 25.08 | -1.76 | 0.0 | 4.71 | 36.52 | 0.0 | 5.50 | 45.12 | 0.0 | 3.99 | 34.34 | 0.0 | 2.65 | 39.47 | 0.0 | 0.98 | 34.25 | 0.0 | 0.22 | 4.76 | 0.0 | 10.10 | 19.81 | 0.0 | 210.91 | 4.8 | 0.0 | 85.78 | -5.73 | 0.0 | 14.22 | 58.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 2.24 | -50.55 | 0.0 | 25.53 | 8.41 | 0.0 | 3.45 | -30.16 | 0.0 | 3.79 | -28.63 | 0.0 | 2.97 | -30.12 | 0.0 | 1.90 | -49.47 | 0.0 | 0.73 | -45.11 | 0.0 | 0.21 | -25.0 | 0.0 | 8.43 | -5.28 | 0.0 | 201.25 | -8.0 | 0.0 | 91.00 | -2.16 | 0.0 | 9.00 | 28.83 | 0.0 | 16.76 | 33.97 | 0.0 |
| 19Q4 (1) | 4.53 | 0.0 | 0.0 | 23.55 | 0.0 | 0.0 | 4.94 | 0.0 | 0.0 | 5.31 | 0.0 | 0.0 | 4.25 | 0.0 | 0.0 | 3.76 | 0.0 | 0.0 | 1.33 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 8.90 | 0.0 | 0.0 | 218.76 | 0.0 | 0.0 | 93.02 | 0.0 | 0.0 | 6.98 | 0.0 | 0.0 | 12.51 | 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) | 19.01 | -41.72 | 19.40 | 7.06 | 4.28 | 50.18 | 1.51 | -6.07 | 5.69 | 65.89 | 4.44 | -52.97 | 11.52 | 78.6 | 5.04 | 92.37 | 0.99 | 1.02 | 8.90 | 16.95 | 155.21 | -13.42 | 75.27 | -9.44 | 24.73 | 46.5 | 16.12 | 4.07 | 13.44 | 7.78 |
| 2022 (9) | 32.62 | 134.51 | 18.12 | -14.57 | 2.85 | -13.9 | 1.61 | -12.49 | 3.43 | -22.05 | 9.44 | 172.05 | 6.45 | -40.55 | 2.62 | -32.99 | 0.98 | -2.0 | 7.61 | -7.87 | 179.27 | -18.8 | 83.12 | 10.61 | 16.88 | -32.09 | 15.49 | -20.74 | 12.47 | -19.5 |
| 2021 (8) | 13.91 | 17.28 | 21.21 | -8.97 | 3.31 | -24.26 | 1.84 | -3.5 | 4.40 | -6.38 | 3.47 | -6.72 | 10.85 | 1.12 | 3.91 | 0.0 | 1.00 | 8.7 | 8.26 | -6.67 | 220.77 | 7.25 | 75.15 | -19.19 | 24.85 | 254.49 | 19.54 | -13.64 | 15.49 | 1.64 |
| 2020 (7) | 11.86 | -8.7 | 23.30 | 1.26 | 4.37 | 5.56 | 1.90 | 12.04 | 4.70 | 1.08 | 3.72 | 0.81 | 10.73 | -4.11 | 3.91 | -7.57 | 0.92 | -7.07 | 8.85 | 0.45 | 205.84 | -6.03 | 92.99 | 4.44 | 7.01 | -36.08 | 22.62 | -3.06 | 15.24 | 5.61 |
| 2019 (6) | 12.99 | -7.87 | 23.01 | 3.98 | 4.14 | -1.9 | 1.70 | 155.86 | 4.65 | -11.09 | 3.69 | -10.0 | 11.19 | -8.13 | 4.23 | -17.38 | 0.99 | -10.0 | 8.81 | 5.89 | 219.04 | 15.34 | 89.03 | 10.3 | 10.97 | -43.11 | 23.34 | -4.71 | 14.43 | 8.74 |
| 2018 (5) | 14.10 | -0.84 | 22.13 | -0.05 | 4.22 | -15.43 | 0.66 | -0.51 | 5.23 | -18.03 | 4.10 | -21.15 | 12.18 | -4.69 | 5.12 | -18.34 | 1.10 | 3.77 | 8.32 | -12.88 | 189.90 | 29.72 | 80.72 | 3.04 | 19.28 | -11.01 | 24.49 | -25.24 | 13.27 | 7.36 |
| 2017 (4) | 14.22 | 1.5 | 22.14 | 11.76 | 4.99 | -53.67 | 0.67 | 58.37 | 6.38 | -45.56 | 5.20 | -45.83 | 12.78 | -43.12 | 6.27 | -48.52 | 1.06 | -14.52 | 9.55 | -26.99 | 146.39 | 51.29 | 78.34 | -14.78 | 21.66 | 166.23 | 32.76 | 0 | 12.36 | 53.54 |
| 2016 (3) | 14.01 | 11.46 | 19.81 | 8.61 | 10.77 | 0.28 | 0.42 | 66.45 | 11.72 | -1.1 | 9.60 | -1.34 | 22.47 | -15.94 | 12.18 | -26.8 | 1.24 | -27.06 | 13.08 | 1.79 | 96.76 | 29.51 | 91.92 | 1.45 | 8.14 | -13.34 | 0.00 | 0 | 8.05 | 68.41 |
| 2015 (2) | 12.57 | 45.65 | 18.24 | -2.15 | 10.74 | -12.75 | 0.25 | -1.59 | 11.85 | -14.93 | 9.73 | -15.61 | 26.73 | 9.5 | 16.64 | 0.67 | 1.70 | 18.88 | 12.85 | -9.57 | 74.71 | 62.13 | 90.61 | 2.56 | 9.39 | -19.39 | 0.00 | 0 | 4.78 | 0.0 |
| 2014 (1) | 8.63 | 39.87 | 18.64 | 0 | 12.31 | 0 | 0.26 | -50.21 | 13.93 | 0 | 11.53 | 0 | 24.41 | 0 | 16.53 | 0 | 1.43 | -23.53 | 14.21 | -5.77 | 46.08 | -12.16 | 88.35 | -3.26 | 11.65 | 34.4 | 0.00 | 0 | 4.78 | -25.31 |
