- 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) | 14.15 | 21.88 | 94.37 | 42.32 | 9.04 | -20.84 | 21.68 | 46.78 | -45.31 | 30.57 | 1.66 | 1.87 | 25.90 | 7.29 | 6.94 | 11.05 | 8.55 | 13.8 | 3.68 | 2.51 | 4.55 | 0.13 | -7.14 | -7.14 | 38.40 | 1.27 | 5.9 | 212.70 | -14.94 | 18.5 | 70.92 | 44.32 | -46.3 | 29.08 | -42.82 | 190.68 | 22.97 | -16.14 | 33.7 |
| 24Q2 (19) | 11.61 | 64.21 | 29.72 | 38.81 | -26.36 | -29.37 | 14.77 | -52.69 | -65.58 | 30.07 | -12.64 | -7.39 | 24.14 | -7.23 | 8.11 | 10.18 | 59.06 | -5.3 | 3.59 | 30.07 | 5.9 | 0.14 | 40.0 | 0.0 | 37.92 | -10.25 | -1.15 | 250.07 | 49.22 | 25.85 | 49.14 | -45.79 | -62.83 | 50.86 | 449.96 | 258.01 | 27.39 | 18.32 | 40.75 |
| 24Q1 (18) | 7.07 | 25.35 | -48.09 | 52.70 | -0.43 | 30.83 | 31.22 | -11.88 | -3.55 | 34.42 | 62.36 | 14.09 | 26.02 | 43.05 | 19.25 | 6.40 | 10.54 | -65.57 | 2.76 | 9.09 | -41.65 | 0.10 | -23.08 | -52.38 | 42.25 | 49.98 | 24.7 | 167.59 | 48.41 | -39.04 | 90.65 | -45.74 | -15.5 | 9.25 | 113.79 | 227.01 | 23.15 | 1.89 | 91.96 |
| 23Q4 (17) | 5.64 | -22.53 | 5.03 | 52.93 | -0.99 | 156.57 | 35.43 | -10.62 | 185.27 | 21.20 | -29.36 | 157.59 | 18.19 | -24.9 | 136.23 | 5.79 | -40.37 | -30.24 | 2.53 | -28.13 | 28.43 | 0.13 | -7.14 | -43.48 | 28.17 | -22.31 | 141.18 | 112.92 | -37.09 | -67.06 | 167.06 | 26.49 | 10.7 | -67.06 | -109.11 | -31.7 | 22.72 | 32.25 | 122.09 |
| 23Q3 (16) | 7.28 | -18.66 | -3.96 | 53.46 | -2.71 | 61.46 | 39.64 | -7.62 | 67.82 | 30.01 | -7.58 | 4.53 | 24.22 | 8.46 | 14.9 | 9.71 | -9.67 | -26.94 | 3.52 | 3.83 | -2.22 | 0.14 | 0.0 | -12.5 | 36.26 | -5.47 | 9.38 | 179.50 | -9.67 | -54.09 | 132.07 | -0.09 | 60.62 | -32.07 | 0.37 | -280.42 | 17.18 | -11.72 | -9.86 |
| 23Q2 (15) | 8.95 | -34.29 | 154.26 | 54.95 | 36.42 | 40.93 | 42.91 | 32.56 | 57.35 | 32.47 | 7.62 | 19.2 | 22.33 | 2.34 | 26.02 | 10.75 | -42.17 | 58.32 | 3.39 | -28.33 | 20.21 | 0.14 | -33.33 | -6.67 | 38.36 | 13.22 | 19.5 | 198.71 | -27.72 | 24.59 | 132.19 | 23.22 | 32.19 | -32.19 | -342.05 | 0 | 19.46 | 61.36 | -17.89 |
| 23Q1 (14) | 13.62 | 153.63 | 419.85 | 40.28 | 95.25 | 15.55 | 32.37 | 160.63 | 43.74 | 30.17 | 266.59 | 33.2 | 21.82 | 183.38 | 36.03 | 18.59 | 123.98 | 225.57 | 4.73 | 140.1 | 88.45 | 0.21 | -8.7 | 40.0 | 33.88 | 190.07 | 19.38 | 274.91 | -19.8 | 93.41 | 107.28 | -28.91 | 7.71 | -7.28 | 85.7 | -1942.23 | 12.06 | 17.89 | -63.06 |
| 22Q4 (13) | 5.37 | -29.16 | 160.68 | 20.63 | -37.69 | -36.72 | 12.42 | -47.42 | -23.33 | 8.23 | -71.33 | -48.11 | 7.70 | -63.47 | -36.78 | 8.30 | -37.55 | 82.82 | 1.97 | -45.28 | 0.51 | 0.23 | 43.75 | 53.33 | 11.68 | -64.77 | -45.4 | 342.79 | -12.33 | 156.1 | 150.92 | 83.54 | 47.67 | -50.92 | -386.46 | -2216.74 | 10.23 | -46.33 | -70.3 |
| 22Q3 (12) | 7.58 | 115.34 | 275.25 | 33.11 | -15.08 | 10.62 | 23.62 | -13.38 | 29.5 | 28.71 | 5.4 | 65.76 | 21.08 | 18.96 | 82.04 | 13.29 | 95.73 | 182.77 | 3.60 | 27.66 | 89.47 | 0.16 | 6.67 | 6.67 | 33.15 | 3.27 | 43.32 | 390.99 | 145.15 | 140.58 | 82.23 | -17.77 | -21.94 | 17.77 | 0 | 432.88 | 19.06 | -19.58 | -36.8 |
| 22Q2 (11) | 3.52 | 34.35 | 38.58 | 38.99 | 11.85 | 37.1 | 27.27 | 21.09 | 68.65 | 27.24 | 20.26 | 77.92 | 17.72 | 10.47 | 53.82 | 6.79 | 18.91 | 39.43 | 2.82 | 12.35 | 47.64 | 0.15 | 0.0 | 0.0 | 32.10 | 13.11 | 51.49 | 159.49 | 12.21 | -7.79 | 100.00 | 0.4 | -5.18 | 0.00 | -100.0 | 100.0 | 23.70 | -27.41 | -21.6 |
| 22Q1 (10) | 2.62 | 27.18 | -57.61 | 34.86 | 6.93 | -20.77 | 22.52 | 39.01 | -31.55 | 22.65 | 42.81 | -31.63 | 16.04 | 31.69 | -34.42 | 5.71 | 25.77 | -54.93 | 2.51 | 28.06 | -46.02 | 0.15 | 0.0 | -16.67 | 28.38 | 32.68 | -24.38 | 142.14 | 6.19 | -20.27 | 99.60 | -2.54 | 0.27 | 0.40 | 117.98 | -40.32 | 32.65 | -5.22 | 23.39 |
| 21Q4 (9) | 2.06 | 1.98 | -74.57 | 32.60 | 8.92 | -25.07 | 16.20 | -11.18 | 113.44 | 15.86 | -8.43 | -75.96 | 12.18 | 5.18 | -81.32 | 4.54 | -3.4 | -76.68 | 1.96 | 3.16 | -76.16 | 0.15 | 0.0 | 25.0 | 21.39 | -7.52 | -71.65 | 133.85 | -17.64 | -27.32 | 102.20 | -2.98 | 781.71 | -2.20 | 58.84 | -102.48 | 34.45 | 14.22 | 1.32 |
| 21Q3 (8) | 2.02 | -20.47 | 51.88 | 29.93 | 5.24 | -21.91 | 18.24 | 12.8 | 0.05 | 17.32 | 13.13 | 12.91 | 11.58 | 0.52 | -16.69 | 4.70 | -3.49 | 68.46 | 1.90 | -0.52 | 18.01 | 0.15 | 0.0 | 36.36 | 23.13 | 9.16 | -3.34 | 162.52 | -6.04 | 87.95 | 105.34 | -0.12 | -10.75 | -5.34 | 2.28 | 70.39 | 30.16 | -0.23 | 7.03 |
| 21Q2 (7) | 2.54 | -58.9 | 144.23 | 28.44 | -35.36 | -21.63 | 16.17 | -50.85 | 0.43 | 15.31 | -53.79 | 17.05 | 11.52 | -52.9 | -3.84 | 4.87 | -61.56 | 120.36 | 1.91 | -58.92 | 46.92 | 0.15 | -16.67 | 50.0 | 21.19 | -43.54 | -4.12 | 172.96 | -2.98 | 98.87 | 105.46 | 6.17 | -14.54 | -5.46 | -925.14 | 76.65 | 30.23 | 14.25 | 6.71 |
| 21Q1 (6) | 6.18 | -23.7 | 461.82 | 44.00 | 1.13 | 26.36 | 32.90 | 333.47 | 174.17 | 33.13 | -49.78 | 164.62 | 24.46 | -62.49 | 105.03 | 12.67 | -34.93 | 417.14 | 4.65 | -43.43 | 234.53 | 0.18 | 50.0 | 63.64 | 37.53 | -50.26 | 77.2 | 178.28 | -3.2 | 123.38 | 99.34 | 757.03 | 3.75 | 0.66 | -99.25 | -84.44 | 26.46 | -22.18 | -16.29 |
| 20Q4 (5) | 8.10 | 509.02 | 548.0 | 43.51 | 13.51 | 14.47 | 7.59 | -58.37 | -40.47 | 65.97 | 330.05 | 557.07 | 65.21 | 369.14 | 428.87 | 19.47 | 597.85 | 555.56 | 8.22 | 410.56 | 389.29 | 0.12 | 9.09 | -7.69 | 75.45 | 215.29 | 315.47 | 184.17 | 112.99 | 76.17 | 11.59 | -90.18 | -90.96 | 88.64 | 591.53 | 414.26 | 34.00 | 20.65 | 25.93 |
| 20Q3 (4) | 1.33 | 27.88 | 0.0 | 38.33 | 5.62 | 0.0 | 18.23 | 13.23 | 0.0 | 15.34 | 17.28 | 0.0 | 13.90 | 16.03 | 0.0 | 2.79 | 26.24 | 0.0 | 1.61 | 23.85 | 0.0 | 0.11 | 10.0 | 0.0 | 23.93 | 8.28 | 0.0 | 86.47 | -0.57 | 0.0 | 118.03 | -4.35 | 0.0 | -18.03 | 22.95 | 0.0 | 28.18 | -0.53 | 0.0 |
| 20Q2 (3) | 1.04 | -5.45 | 0.0 | 36.29 | 4.22 | 0.0 | 16.10 | 34.17 | 0.0 | 13.08 | 4.47 | 0.0 | 11.98 | 0.42 | 0.0 | 2.21 | -9.8 | 0.0 | 1.30 | -6.47 | 0.0 | 0.10 | -9.09 | 0.0 | 22.10 | 4.34 | 0.0 | 86.97 | 8.97 | 0.0 | 123.40 | 28.89 | 0.0 | -23.40 | -650.0 | 0.0 | 28.33 | -10.38 | 0.0 |
| 20Q1 (2) | 1.10 | -12.0 | 0.0 | 34.82 | -8.39 | 0.0 | 12.00 | -5.88 | 0.0 | 12.52 | 24.7 | 0.0 | 11.93 | -3.24 | 0.0 | 2.45 | -17.51 | 0.0 | 1.39 | -17.26 | 0.0 | 0.11 | -15.38 | 0.0 | 21.18 | 16.63 | 0.0 | 79.81 | -23.66 | 0.0 | 95.74 | -25.32 | 0.0 | 4.26 | 115.09 | 0.0 | 31.61 | 17.07 | 0.0 |
| 19Q4 (1) | 1.25 | 0.0 | 0.0 | 38.01 | 0.0 | 0.0 | 12.75 | 0.0 | 0.0 | 10.04 | 0.0 | 0.0 | 12.33 | 0.0 | 0.0 | 2.97 | 0.0 | 0.0 | 1.68 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 18.16 | 0.0 | 0.0 | 104.54 | 0.0 | 0.0 | 128.21 | 0.0 | 0.0 | -28.21 | 0.0 | 0.0 | 27.00 | 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) | 30.20 | 63.07 | 49.23 | 77.34 | 36.97 | 101.8 | 2.96 | 19.84 | 28.62 | 63.26 | 21.63 | 62.02 | 36.34 | 7.51 | 13.42 | 35.83 | 0.59 | -15.71 | 34.10 | 57.36 | 112.92 | -67.06 | 129.16 | 23.65 | -29.16 | 0 | 22.34 | 136.81 | 17.21 | 3.43 |
| 2022 (9) | 18.52 | 67.75 | 27.76 | -18.64 | 18.32 | -14.19 | 2.47 | -33.18 | 17.53 | -16.12 | 13.35 | -12.75 | 33.80 | 26.64 | 9.88 | -10.43 | 0.70 | 2.94 | 21.67 | -17.57 | 342.79 | 156.1 | 104.46 | 2.26 | -4.46 | 0 | 9.43 | 306.66 | 16.64 | -44.81 |
| 2021 (8) | 11.04 | 2.6 | 34.12 | -12.76 | 21.35 | 69.98 | 3.69 | -46.81 | 20.90 | -36.84 | 15.30 | -52.4 | 26.69 | -4.98 | 11.03 | -3.92 | 0.68 | 94.29 | 26.29 | -37.57 | 133.85 | -27.32 | 102.15 | 168.93 | -2.15 | 0 | 2.32 | 3149.28 | 30.15 | -2.99 |
| 2020 (7) | 10.76 | 36.2 | 39.11 | -6.99 | 12.56 | -44.3 | 6.94 | -10.77 | 33.09 | 55.5 | 32.14 | 61.1 | 28.09 | 36.96 | 11.48 | 1.77 | 0.35 | -35.19 | 42.11 | 39.95 | 184.17 | 76.17 | 37.98 | -64.22 | 62.02 | 0 | 0.07 | -86.58 | 31.08 | 17.06 |
| 2019 (6) | 7.90 | -51.17 | 42.05 | 29.54 | 22.55 | 65.2 | 7.78 | -2.93 | 21.28 | -39.97 | 19.95 | -38.43 | 20.51 | -54.95 | 11.28 | -61.2 | 0.54 | -37.93 | 30.09 | -32.55 | 104.54 | 51.55 | 106.15 | 176.45 | -5.85 | 0 | 0.53 | 493.79 | 26.55 | -3.84 |
| 2018 (5) | 16.18 | 2789.29 | 32.46 | -7.81 | 13.65 | 162.5 | 8.02 | 43.51 | 35.45 | 613.28 | 32.40 | 655.24 | 45.53 | 1537.77 | 29.07 | 1227.4 | 0.87 | 102.33 | 44.61 | 280.31 | 68.98 | 59.2 | 38.40 | -63.62 | 61.40 | 0 | 0.09 | 0 | 27.61 | 4.66 |
| 2017 (4) | 0.56 | -46.67 | 35.21 | -16.19 | 5.20 | -51.81 | 5.59 | -16.79 | 4.97 | -49.18 | 4.29 | -50.52 | 2.78 | -46.74 | 2.19 | -37.78 | 0.43 | 22.86 | 11.73 | -36.15 | 43.33 | -24.33 | 105.56 | -4.66 | -5.56 | 0 | 0.00 | 0 | 26.38 | -15.45 |
| 2016 (3) | 1.05 | -30.0 | 42.01 | -1.06 | 10.79 | 35.38 | 6.71 | -0.13 | 9.78 | -33.78 | 8.67 | -38.77 | 5.22 | -29.08 | 3.52 | -14.56 | 0.35 | 40.0 | 18.37 | -24.62 | 57.26 | -32.97 | 110.71 | 103.95 | -10.71 | 0 | 0.00 | 0 | 31.20 | -9.36 |
| 2015 (2) | 1.50 | 94.81 | 42.46 | -4.15 | 7.97 | -32.17 | 6.72 | 4.68 | 14.77 | 59.5 | 14.16 | 85.83 | 7.36 | 69.2 | 4.12 | 56.06 | 0.25 | -7.41 | 24.37 | 29.56 | 85.43 | -35.73 | 54.29 | -58.24 | 45.71 | 0 | 0.00 | 0 | 34.42 | -2.99 |
| 2014 (1) | 0.77 | 220.83 | 44.30 | 0 | 11.75 | 0 | 6.42 | 99.08 | 9.26 | 0 | 7.62 | 0 | 4.35 | 0 | 2.64 | 0 | 0.27 | -12.9 | 18.81 | 249.63 | 132.92 | 66.73 | 130.00 | -35.0 | -25.00 | 0 | 0.00 | 0 | 35.48 | 5.78 |
