- 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) | 0.91 | -32.59 | 46.77 | 28.99 | -6.21 | -36.55 | 9.20 | -20.42 | 43.53 | 9.97 | -17.19 | 32.23 | 8.11 | -14.63 | 42.28 | 2.57 | -29.4 | 66.88 | 1.49 | -24.37 | 91.03 | 0.18 | -10.0 | 38.46 | 11.27 | -14.88 | -14.3 | 64.43 | -23.05 | -37.81 | 91.38 | -4.92 | 1.53 | 6.90 | 77.01 | -31.03 | 21.82 | 0.41 | -27.53 |
| 24Q2 (19) | 1.35 | -0.74 | -23.73 | 30.91 | -25.79 | -28.7 | 11.56 | -32.56 | -4.86 | 12.04 | -34.39 | -4.52 | 9.50 | -35.2 | -29.42 | 3.64 | -3.45 | -27.92 | 1.97 | -6.19 | -12.44 | 0.20 | 42.86 | 25.0 | 13.24 | -34.1 | -8.31 | 83.73 | -7.09 | -31.85 | 96.10 | 2.6 | -0.58 | 3.90 | -38.44 | 16.88 | 21.73 | -9.91 | -21.52 |
| 24Q1 (18) | 1.36 | -57.89 | 86.3 | 41.65 | 17.39 | -22.54 | 17.14 | -7.3 | 61.39 | 18.35 | -3.78 | 64.13 | 14.66 | 5.39 | 66.21 | 3.77 | -58.84 | 61.11 | 2.10 | -57.4 | 87.5 | 0.14 | -60.0 | 16.67 | 20.09 | 8.24 | 52.08 | 90.12 | 20.8 | -36.48 | 93.67 | -3.26 | -0.98 | 6.33 | 99.37 | 17.09 | 24.12 | 75.93 | -25.26 |
| 23Q4 (17) | 3.23 | 420.97 | 16.61 | 35.48 | -22.35 | -0.56 | 18.49 | 188.46 | 20.53 | 19.07 | 152.92 | 22.95 | 13.91 | 144.04 | 12.0 | 9.16 | 494.81 | 5.17 | 4.93 | 532.05 | 18.51 | 0.35 | 169.23 | 6.06 | 18.56 | 41.14 | 13.93 | 74.60 | -28.0 | -25.44 | 96.83 | 7.58 | -2.46 | 3.17 | -68.25 | 117.46 | 13.71 | -54.47 | -12.79 |
| 23Q3 (16) | 0.62 | -64.97 | -17.33 | 45.69 | 5.4 | 0.22 | 6.41 | -47.24 | -40.09 | 7.54 | -40.21 | -23.76 | 5.70 | -57.65 | -25.39 | 1.54 | -69.5 | -38.89 | 0.78 | -65.33 | -30.97 | 0.13 | -18.75 | -7.14 | 13.15 | -8.93 | 12.78 | 103.61 | -15.67 | -17.12 | 90.00 | -6.9 | -16.59 | 10.00 | 200.0 | 226.67 | 30.11 | 8.74 | 6.51 |
| 23Q2 (15) | 1.77 | 142.47 | 34.09 | 43.35 | -19.38 | -7.11 | 12.15 | 14.41 | -23.15 | 12.61 | 12.79 | -16.55 | 13.46 | 52.61 | 13.68 | 5.05 | 115.81 | 8.14 | 2.25 | 100.89 | 22.95 | 0.16 | 33.33 | 6.67 | 14.44 | 9.31 | -12.75 | 122.86 | -13.4 | -17.44 | 96.67 | 2.19 | -7.54 | 3.33 | -38.33 | 173.33 | 27.69 | -14.19 | 6.83 |
| 23Q1 (14) | 0.73 | -73.65 | 17.74 | 53.77 | 50.7 | 17.92 | 10.62 | -30.77 | 7.27 | 11.18 | -27.92 | 22.86 | 8.82 | -28.99 | 24.93 | 2.34 | -73.13 | 12.5 | 1.12 | -73.08 | 27.27 | 0.12 | -63.64 | 0.0 | 13.21 | -18.91 | 22.43 | 141.87 | 41.78 | -19.36 | 94.59 | -4.71 | -13.75 | 5.41 | 270.27 | 155.86 | 32.27 | 105.28 | 9.06 |
| 22Q4 (13) | 2.77 | 269.33 | -7.05 | 35.68 | -21.74 | -16.09 | 15.34 | 43.36 | -21.21 | 15.51 | 56.83 | -21.67 | 12.42 | 62.57 | -21.39 | 8.71 | 245.63 | -9.46 | 4.16 | 268.14 | -3.7 | 0.33 | 135.71 | 22.22 | 16.29 | 39.71 | -21.23 | 100.06 | -19.96 | -22.34 | 99.27 | -7.99 | 1.37 | 1.46 | 118.49 | 5.84 | 15.72 | -44.39 | -19.59 |
| 22Q3 (12) | 0.75 | -43.18 | -51.3 | 45.59 | -2.31 | -8.73 | 10.70 | -32.32 | -30.25 | 9.89 | -34.55 | -47.87 | 7.64 | -35.47 | -51.68 | 2.52 | -46.04 | -48.25 | 1.13 | -38.25 | -51.91 | 0.14 | -6.67 | 0.0 | 11.66 | -29.55 | -43.48 | 125.01 | -15.99 | 2.15 | 107.89 | 3.2 | 33.94 | -7.89 | -73.68 | -140.6 | 28.27 | 9.07 | -4.43 |
| 22Q2 (11) | 1.32 | 112.9 | -2.22 | 46.67 | 2.35 | 0.8 | 15.81 | 59.7 | 14.73 | 15.11 | 66.04 | -7.58 | 11.84 | 67.71 | -9.55 | 4.67 | 124.52 | 15.02 | 1.83 | 107.95 | -7.58 | 0.15 | 25.0 | 0.0 | 16.55 | 53.38 | -8.06 | 148.81 | -15.42 | 41.0 | 104.55 | -4.68 | 23.55 | -4.55 | 53.03 | -129.55 | 25.92 | -12.4 | -5.88 |
| 22Q1 (10) | 0.62 | -79.19 | -27.91 | 45.60 | 7.24 | -0.44 | 9.90 | -49.15 | -19.32 | 9.10 | -54.04 | -22.55 | 7.06 | -55.32 | -24.0 | 2.08 | -78.38 | -24.09 | 0.88 | -79.63 | -27.87 | 0.12 | -55.56 | 0.0 | 10.79 | -47.82 | -19.78 | 175.94 | 36.55 | 48.81 | 109.68 | 11.99 | 4.69 | -9.68 | -801.61 | -103.23 | 29.59 | 51.36 | 5.08 |
| 21Q4 (9) | 2.98 | 93.51 | -8.87 | 42.52 | -14.87 | 10.27 | 19.47 | 26.92 | 8.05 | 19.80 | 4.38 | 8.43 | 15.80 | -0.06 | 8.52 | 9.62 | 97.54 | -15.17 | 4.32 | 83.83 | 1.17 | 0.27 | 92.86 | -6.9 | 20.68 | 0.24 | 8.9 | 128.85 | 5.29 | -17.76 | 97.93 | 21.57 | -0.76 | 1.38 | -92.91 | 4.83 | 19.55 | -33.91 | 11.59 |
| 21Q3 (8) | 1.54 | 14.07 | 340.0 | 49.95 | 7.88 | 0.36 | 15.34 | 11.32 | 92.23 | 18.97 | 16.02 | 207.46 | 15.81 | 20.78 | 251.33 | 4.87 | 19.95 | 268.94 | 2.35 | 18.69 | 319.64 | 0.14 | -6.67 | 27.27 | 20.63 | 14.61 | 136.85 | 122.38 | 15.96 | -34.25 | 80.56 | -4.8 | -36.96 | 19.44 | 26.39 | 170.0 | 29.58 | 7.41 | -13.41 |
| 21Q2 (7) | 1.35 | 56.98 | -29.32 | 46.30 | 1.09 | -0.24 | 13.78 | 12.31 | -4.37 | 16.35 | 39.15 | -21.55 | 13.09 | 40.9 | -27.2 | 4.06 | 48.18 | -39.94 | 1.98 | 62.3 | -29.03 | 0.15 | 25.0 | 0.0 | 18.00 | 33.83 | -20.7 | 105.54 | -10.73 | -35.82 | 84.62 | -19.23 | 21.73 | 15.38 | 423.08 | -49.54 | 27.54 | -2.2 | 0 |
| 21Q1 (6) | 0.86 | -73.7 | 7.5 | 45.80 | 18.78 | 0.64 | 12.27 | -31.91 | -1.21 | 11.75 | -35.65 | 5.86 | 9.29 | -36.2 | 9.04 | 2.74 | -75.84 | 1.86 | 1.22 | -71.43 | 2.52 | 0.12 | -58.62 | -7.69 | 13.45 | -29.17 | 4.34 | 118.23 | -24.54 | -12.79 | 104.76 | 6.16 | -4.98 | -4.76 | -461.9 | 62.86 | 28.16 | 60.73 | 2.14 |
| 20Q4 (5) | 3.27 | 834.29 | 125.52 | 38.56 | -22.52 | 0.03 | 18.02 | 125.81 | 71.13 | 18.26 | 195.95 | 61.59 | 14.56 | 223.56 | 55.39 | 11.34 | 759.09 | 121.92 | 4.27 | 662.5 | 82.48 | 0.29 | 163.64 | 16.0 | 18.99 | 118.03 | 55.4 | 156.68 | -15.82 | 6.12 | 98.68 | -22.77 | 6.91 | 1.32 | 104.74 | -78.62 | 17.52 | -48.71 | -24.61 |
| 20Q3 (4) | 0.35 | -81.68 | 0.0 | 49.77 | 7.24 | 0.0 | 7.98 | -44.62 | 0.0 | 6.17 | -70.39 | 0.0 | 4.50 | -74.97 | 0.0 | 1.32 | -80.47 | 0.0 | 0.56 | -79.93 | 0.0 | 0.11 | -26.67 | 0.0 | 8.71 | -61.63 | 0.0 | 186.13 | 13.18 | 0.0 | 127.78 | 83.82 | 0.0 | -27.78 | -191.11 | 0.0 | 34.16 | 0 | 0.0 |
| 20Q2 (3) | 1.91 | 138.75 | 0.0 | 46.41 | 1.98 | 0.0 | 14.41 | 16.02 | 0.0 | 20.84 | 87.75 | 0.0 | 17.98 | 111.03 | 0.0 | 6.76 | 151.3 | 0.0 | 2.79 | 134.45 | 0.0 | 0.15 | 15.38 | 0.0 | 22.70 | 76.11 | 0.0 | 164.45 | 21.3 | 0.0 | 69.51 | -36.95 | 0.0 | 30.49 | 337.8 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.80 | -44.83 | 0.0 | 45.51 | 18.05 | 0.0 | 12.42 | 17.95 | 0.0 | 11.10 | -1.77 | 0.0 | 8.52 | -9.07 | 0.0 | 2.69 | -47.36 | 0.0 | 1.19 | -49.15 | 0.0 | 0.13 | -48.0 | 0.0 | 12.89 | 5.48 | 0.0 | 135.57 | -8.18 | 0.0 | 110.26 | 19.44 | 0.0 | -12.82 | -308.33 | 0.0 | 27.57 | 18.63 | 0.0 |
| 19Q4 (1) | 1.45 | 0.0 | 0.0 | 38.55 | 0.0 | 0.0 | 10.53 | 0.0 | 0.0 | 11.30 | 0.0 | 0.0 | 9.37 | 0.0 | 0.0 | 5.11 | 0.0 | 0.0 | 2.34 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 12.22 | 0.0 | 0.0 | 147.65 | 0.0 | 0.0 | 92.31 | 0.0 | 0.0 | 6.15 | 0.0 | 0.0 | 23.24 | 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) | 6.26 | 15.29 | 41.60 | 0.14 | 13.94 | 2.12 | 1.07 | 21.74 | 14.57 | 9.63 | 11.67 | 11.14 | 17.13 | 2.51 | 9.48 | 18.2 | 0.79 | 6.76 | 16.01 | 10.03 | 74.60 | -25.44 | 95.72 | -7.02 | 4.28 | 0 | 0.00 | 0 | 22.21 | -1.6 |
| 2022 (9) | 5.43 | -19.32 | 41.54 | -8.62 | 13.65 | -14.85 | 0.88 | -3.58 | 13.29 | -23.4 | 10.50 | -24.84 | 16.71 | -22.67 | 8.02 | -12.35 | 0.74 | 15.62 | 14.55 | -22.23 | 100.06 | -22.34 | 102.94 | 11.55 | -2.57 | 0 | 0.00 | 0 | 22.57 | -9.5 |
| 2021 (8) | 6.73 | 6.32 | 45.46 | 5.11 | 16.03 | 9.35 | 0.91 | -0.32 | 17.35 | 11.22 | 13.97 | 10.87 | 21.61 | 3.55 | 9.15 | 6.89 | 0.64 | -3.03 | 18.71 | 9.74 | 128.85 | -17.76 | 92.28 | -1.97 | 7.72 | 31.63 | 0.00 | 0 | 24.94 | 3.79 |
| 2020 (7) | 6.33 | -2.76 | 43.25 | 5.13 | 14.66 | 3.17 | 0.91 | 12.02 | 15.60 | 4.7 | 12.60 | 2.69 | 20.87 | -9.3 | 8.56 | -12.11 | 0.66 | -16.46 | 17.05 | 8.12 | 156.68 | 6.12 | 94.14 | -1.48 | 5.86 | 22.27 | 0.00 | 0 | 24.03 | 6.52 |
| 2019 (6) | 6.51 | 38.22 | 41.14 | 0.15 | 14.21 | 10.93 | 0.82 | 101.4 | 14.90 | 8.05 | 12.27 | 6.88 | 23.01 | 18.79 | 9.74 | 1.67 | 0.79 | -4.82 | 15.77 | 11.13 | 147.65 | 17.37 | 95.55 | 2.9 | 4.79 | -32.88 | 0.00 | 0 | 22.56 | -3.92 |
| 2018 (5) | 4.71 | 30.47 | 41.08 | 7.76 | 12.81 | 13.77 | 0.41 | 4.0 | 13.79 | 22.58 | 11.48 | 23.71 | 19.37 | 20.99 | 9.58 | 11.27 | 0.83 | -10.75 | 14.19 | 21.91 | 125.80 | 57.15 | 92.86 | -7.14 | 7.14 | 0 | 0.00 | 0 | 23.48 | 6.58 |
| 2017 (4) | 3.61 | -2.43 | 38.12 | 3.03 | 11.26 | 12.83 | 0.39 | 6.18 | 11.25 | 9.76 | 9.28 | 10.34 | 16.01 | -5.04 | 8.61 | 4.62 | 0.93 | -5.1 | 11.64 | 9.92 | 80.05 | -12.94 | 100.00 | 2.63 | 0.00 | 0 | 0.00 | 0 | 22.03 | 1.29 |
| 2016 (3) | 3.70 | 3.06 | 37.00 | 10.25 | 9.98 | 18.25 | 0.37 | -1.03 | 10.25 | 19.19 | 8.41 | 20.14 | 16.86 | -2.26 | 8.23 | 1.35 | 0.98 | -15.52 | 10.59 | 18.32 | 91.95 | -23.73 | 97.44 | -0.42 | 2.56 | 19.23 | 0.00 | 0 | 21.75 | 8.75 |
| 2015 (2) | 3.59 | -25.52 | 33.56 | -6.6 | 8.44 | -25.83 | 0.37 | -19.81 | 8.60 | -24.96 | 7.00 | -25.29 | 17.25 | -26.66 | 8.12 | -31.59 | 1.16 | -7.94 | 8.95 | -25.29 | 120.56 | 14.74 | 97.85 | -1.36 | 2.15 | 166.67 | 0.00 | 0 | 20.00 | 4.44 |
| 2014 (1) | 4.82 | 17.85 | 35.93 | 0 | 11.38 | 0 | 0.46 | -22.94 | 11.46 | 0 | 9.37 | 0 | 23.52 | 0 | 11.87 | 0 | 1.26 | 9.57 | 11.98 | -10.93 | 105.07 | 14.32 | 99.19 | 1.58 | 0.81 | -65.65 | 0.00 | 0 | 19.15 | -15.64 |
