- 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) | 6.18 | 2.66 | -51.45 | 30.04 | -7.03 | -17.95 | 20.16 | -8.24 | -27.4 | 22.33 | -3.08 | -45.72 | 18.60 | -0.96 | -41.64 | 3.19 | -10.14 | -63.95 | 1.35 | -2.88 | -57.68 | 0.07 | 0.0 | -30.0 | 36.99 | -0.94 | -28.8 | 143.77 | -9.38 | -18.15 | 90.32 | -5.28 | 33.8 | 9.68 | 107.17 | -70.21 | 21.15 | -0.7 | 7.2 |
| 24Q2 (19) | 6.02 | -25.68 | -45.27 | 32.31 | -5.66 | -14.25 | 21.97 | -16.46 | -24.53 | 23.04 | -23.73 | -39.05 | 18.78 | -19.81 | -29.82 | 3.55 | -30.66 | -56.55 | 1.39 | -26.46 | -50.71 | 0.07 | -12.5 | -30.0 | 37.34 | -14.85 | -21.98 | 158.65 | -13.56 | -17.88 | 95.36 | 9.53 | 23.83 | 4.67 | -63.9 | -79.68 | 21.30 | 11.75 | 14.27 |
| 24Q1 (18) | 8.10 | -20.67 | -29.5 | 34.25 | -0.72 | -15.56 | 26.30 | 12.44 | -19.77 | 30.21 | -11.12 | -18.33 | 23.42 | -11.62 | -12.81 | 5.12 | -23.58 | -42.41 | 1.89 | -23.17 | -36.36 | 0.08 | -11.11 | -27.27 | 43.85 | -3.84 | -5.6 | 183.53 | -0.47 | -9.38 | 87.06 | 26.51 | -1.79 | 12.94 | -58.49 | 13.82 | 19.06 | -11.8 | 5.6 |
| 23Q4 (17) | 10.21 | -19.8 | -23.29 | 34.50 | -5.76 | -19.26 | 23.39 | -15.77 | -32.4 | 33.99 | -17.38 | -28.73 | 26.50 | -16.85 | -15.9 | 6.70 | -24.29 | -39.64 | 2.46 | -22.88 | -31.67 | 0.09 | -10.0 | -18.18 | 45.60 | -12.22 | -20.15 | 184.39 | 4.98 | -13.03 | 68.81 | 1.94 | -5.14 | 31.19 | -4.04 | 13.63 | 21.61 | 9.53 | 9.86 |
| 23Q3 (16) | 12.73 | 15.73 | 8.43 | 36.61 | -2.84 | -16.24 | 27.77 | -4.6 | -20.79 | 41.14 | 8.84 | 5.81 | 31.87 | 19.1 | 12.58 | 8.85 | 8.32 | -17.75 | 3.19 | 13.12 | -3.92 | 0.10 | 0.0 | -16.67 | 51.95 | 8.55 | 8.46 | 175.65 | -9.08 | -18.64 | 67.50 | -12.34 | -25.15 | 32.50 | 41.31 | 230.54 | 19.73 | 5.85 | 6.65 |
| 23Q2 (15) | 11.00 | -4.26 | 76.28 | 37.68 | -7.1 | -13.56 | 29.11 | -11.2 | -20.22 | 37.80 | 2.19 | 65.14 | 26.76 | -0.37 | 72.76 | 8.17 | -8.1 | 38.71 | 2.82 | -5.05 | 53.26 | 0.10 | -9.09 | -9.09 | 47.86 | 3.04 | 48.96 | 193.19 | -4.61 | -21.48 | 77.00 | -13.13 | -51.7 | 23.00 | 102.22 | 138.7 | 18.64 | 3.27 | 11.35 |
| 23Q1 (14) | 11.49 | -13.67 | 186.53 | 40.56 | -5.08 | -4.81 | 32.78 | -5.26 | -9.27 | 36.99 | -22.44 | 1888.71 | 26.86 | -14.76 | 150.79 | 8.89 | -19.91 | 136.44 | 2.97 | -17.5 | 143.44 | 0.11 | 0.0 | 0.0 | 46.45 | -18.67 | 302.51 | 202.52 | -4.48 | -6.59 | 88.64 | 22.19 | -95.43 | 11.37 | -58.56 | 100.62 | 18.05 | -8.24 | 0.39 |
| 22Q4 (13) | 13.31 | 13.37 | 173.31 | 42.73 | -2.24 | 3.59 | 34.60 | -1.31 | 13.11 | 47.69 | 22.66 | 107.17 | 31.51 | 11.3 | 134.1 | 11.10 | 3.16 | 143.42 | 3.60 | 8.43 | 135.29 | 0.11 | -8.33 | 0.0 | 57.11 | 19.23 | 73.01 | 212.01 | -1.8 | -7.87 | 72.54 | -19.56 | -45.4 | 27.45 | 179.15 | 183.51 | 19.67 | 6.32 | -3.2 |
| 22Q3 (12) | 11.74 | 88.14 | 64.66 | 43.71 | 0.28 | 11.73 | 35.06 | -3.92 | 15.52 | 38.88 | 69.86 | 53.92 | 28.31 | 82.76 | 40.08 | 10.76 | 82.68 | 61.08 | 3.32 | 80.43 | 41.28 | 0.12 | 9.09 | 9.09 | 47.90 | 49.08 | 35.2 | 215.90 | -12.25 | 10.85 | 90.18 | -43.43 | -24.96 | 9.83 | 116.54 | 148.79 | 18.50 | 10.51 | 1.2 |
| 22Q2 (11) | 6.24 | 55.61 | -31.35 | 43.59 | 2.3 | 18.71 | 36.49 | 1.0 | 30.27 | 22.89 | 1130.65 | -35.63 | 15.49 | 44.63 | -40.42 | 5.89 | 56.65 | -32.76 | 1.84 | 50.82 | -47.43 | 0.11 | 0.0 | -15.38 | 32.13 | 178.42 | -29.59 | 246.03 | 13.48 | 30.15 | 159.43 | -91.77 | 102.44 | -59.43 | 96.77 | -379.71 | 16.74 | -6.9 | -14.98 |
| 22Q1 (10) | 4.01 | -17.66 | -35.11 | 42.61 | 3.3 | 21.47 | 36.13 | 18.11 | 35.37 | 1.86 | -91.92 | -92.2 | 10.71 | -20.43 | -41.06 | 3.76 | -17.54 | -37.85 | 1.22 | -20.26 | -56.89 | 0.11 | 0.0 | -26.67 | 11.54 | -65.04 | -66.27 | 216.81 | -5.79 | 87.16 | 1937.83 | 1358.5 | 1630.41 | -1838.16 | -5493.12 | -15271.7 | 17.98 | -11.52 | -10.1 |
| 21Q4 (9) | 4.87 | -31.7 | -38.35 | 41.25 | 5.44 | 13.64 | 30.59 | 0.79 | 36.2 | 23.02 | -8.87 | -22.49 | 13.46 | -33.4 | -44.65 | 4.56 | -31.74 | -42.13 | 1.53 | -34.89 | -58.42 | 0.11 | 0.0 | -26.67 | 33.01 | -6.83 | -18.97 | 230.13 | 18.16 | 100.43 | 132.86 | 10.56 | 75.67 | -32.86 | -63.1 | -234.86 | 20.32 | 11.16 | 10.26 |
| 21Q3 (8) | 7.13 | -21.56 | -8.35 | 39.12 | 6.54 | 5.08 | 30.35 | 8.35 | 4.22 | 25.26 | -28.97 | -13.08 | 20.21 | -22.27 | -16.45 | 6.68 | -23.74 | -18.34 | 2.35 | -32.86 | -35.44 | 0.11 | -15.38 | -26.67 | 35.43 | -22.35 | -11.87 | 194.76 | 3.03 | 68.7 | 120.18 | 52.6 | 19.94 | -20.15 | -194.84 | -10151.03 | 18.28 | -7.16 | -6.88 |
| 21Q2 (7) | 9.09 | 47.09 | 16.39 | 36.72 | 4.68 | -4.77 | 28.01 | 4.95 | -9.26 | 35.56 | 49.16 | 10.13 | 26.00 | 43.09 | 4.84 | 8.76 | 44.79 | -1.68 | 3.50 | 23.67 | -2.23 | 0.13 | -13.33 | -7.14 | 45.63 | 33.38 | 9.56 | 189.03 | 63.18 | 38.11 | 78.75 | -29.68 | -17.61 | 21.25 | 277.67 | 382.02 | 19.69 | -1.55 | 0 |
| 21Q1 (6) | 6.18 | -21.77 | -6.65 | 35.08 | -3.36 | -3.97 | 26.69 | 18.83 | -5.19 | 23.84 | -19.73 | -17.85 | 18.17 | -25.29 | -14.73 | 6.05 | -23.22 | -14.31 | 2.83 | -23.1 | -5.67 | 0.15 | 0.0 | 7.14 | 34.21 | -16.03 | -9.62 | 115.84 | 0.89 | -29.55 | 111.99 | 48.07 | 15.43 | -11.96 | -149.07 | -497.45 | 20.00 | 8.52 | -6.5 |
| 20Q4 (5) | 7.90 | 1.54 | 18.26 | 36.30 | -2.5 | -5.02 | 22.46 | -22.87 | -21.28 | 29.70 | 2.2 | 3.38 | 24.32 | 0.54 | 12.91 | 7.88 | -3.67 | 19.39 | 3.68 | 1.1 | 21.45 | 0.15 | 0.0 | 7.14 | 40.74 | 1.34 | 8.01 | 114.82 | -0.55 | 0.46 | 75.63 | -24.52 | -23.84 | 24.37 | 12497.6 | 3401.88 | 18.43 | -6.11 | -13.88 |
| 20Q3 (4) | 7.78 | -0.38 | 0.0 | 37.23 | -3.45 | 0.0 | 29.12 | -5.67 | 0.0 | 29.06 | -10.0 | 0.0 | 24.19 | -2.46 | 0.0 | 8.18 | -8.19 | 0.0 | 3.64 | 1.68 | 0.0 | 0.15 | 7.14 | 0.0 | 40.20 | -3.48 | 0.0 | 115.45 | -15.65 | 0.0 | 100.20 | 4.82 | 0.0 | -0.20 | -104.46 | 0.0 | 19.63 | 0 | 0.0 |
| 20Q2 (3) | 7.81 | 17.98 | 0.0 | 38.56 | 5.56 | 0.0 | 30.87 | 9.66 | 0.0 | 32.29 | 11.27 | 0.0 | 24.80 | 16.38 | 0.0 | 8.91 | 26.2 | 0.0 | 3.58 | 19.33 | 0.0 | 0.14 | 0.0 | 0.0 | 41.65 | 10.04 | 0.0 | 136.87 | -16.76 | 0.0 | 95.59 | -1.47 | 0.0 | 4.41 | 46.5 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 6.62 | -0.9 | 0.0 | 36.53 | -4.42 | 0.0 | 28.15 | -1.33 | 0.0 | 29.02 | 1.01 | 0.0 | 21.31 | -1.07 | 0.0 | 7.06 | 6.97 | 0.0 | 3.00 | -0.99 | 0.0 | 0.14 | 0.0 | 0.0 | 37.85 | 0.34 | 0.0 | 164.43 | 43.87 | 0.0 | 97.02 | -2.3 | 0.0 | 3.01 | 332.36 | 0.0 | 21.39 | -0.05 | 0.0 |
| 19Q4 (1) | 6.68 | 0.0 | 0.0 | 38.22 | 0.0 | 0.0 | 28.53 | 0.0 | 0.0 | 28.73 | 0.0 | 0.0 | 21.54 | 0.0 | 0.0 | 6.60 | 0.0 | 0.0 | 3.03 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 37.72 | 0.0 | 0.0 | 114.29 | 0.0 | 0.0 | 99.30 | 0.0 | 0.0 | 0.70 | 0.0 | 0.0 | 21.40 | 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) | 45.41 | 28.6 | 37.42 | -13.32 | 28.39 | -20.12 | 9.50 | 13.54 | 37.50 | 31.07 | 27.98 | 28.0 | 32.74 | 6.47 | 11.32 | 15.04 | 0.39 | -11.36 | 47.96 | 26.41 | 184.39 | -13.03 | 75.71 | -39.07 | 24.30 | 0 | 1.24 | -11.18 | 19.46 | 6.69 |
| 2022 (9) | 35.31 | 29.48 | 43.17 | 13.34 | 35.54 | 22.81 | 8.37 | -10.03 | 28.61 | 6.36 | 21.86 | 12.56 | 30.75 | 16.3 | 9.84 | -0.3 | 0.44 | -12.0 | 37.94 | 2.4 | 212.01 | -7.87 | 124.25 | 15.49 | -24.25 | 0 | 1.40 | -10.97 | 18.24 | -6.8 |
| 2021 (8) | 27.27 | -9.43 | 38.09 | 2.53 | 28.94 | 4.82 | 9.30 | -0.29 | 26.90 | -10.36 | 19.42 | -17.96 | 26.44 | -9.98 | 9.87 | -28.22 | 0.50 | -13.79 | 37.05 | -7.65 | 230.13 | 100.43 | 107.59 | 16.94 | -7.59 | 0 | 1.57 | -46.74 | 19.57 | -0.96 |
| 2020 (7) | 30.11 | -3.96 | 37.15 | -5.54 | 27.61 | -10.39 | 9.33 | 23.72 | 30.01 | -6.04 | 23.67 | 0.85 | 29.37 | -4.98 | 13.75 | -6.4 | 0.58 | -6.45 | 40.12 | -0.27 | 114.82 | 0.46 | 92.01 | -4.62 | 7.99 | 125.72 | 2.95 | -11.77 | 19.76 | -2.08 |
| 2019 (6) | 31.35 | 0.55 | 39.33 | 4.19 | 30.81 | 3.53 | 7.54 | -0.13 | 31.94 | 3.37 | 23.47 | 1.69 | 30.91 | -12.49 | 14.69 | -14.29 | 0.62 | -16.22 | 40.23 | 2.52 | 114.29 | 5.7 | 96.46 | 0.16 | 3.54 | -4.25 | 3.34 | -17.73 | 20.18 | 3.97 |
| 2018 (5) | 31.18 | 145.9 | 37.75 | 47.75 | 29.76 | 85.54 | 7.55 | -25.61 | 30.90 | 107.66 | 23.08 | 102.1 | 35.32 | 66.84 | 17.14 | 99.77 | 0.74 | 4.23 | 39.24 | 47.3 | 108.13 | 1.78 | 96.30 | -10.7 | 3.70 | 0 | 4.06 | 0 | 19.41 | -17.37 |
| 2017 (4) | 12.68 | 399.21 | 25.55 | 14.01 | 16.04 | 114.44 | 10.15 | 18.39 | 14.88 | 103.84 | 11.42 | 123.92 | 21.17 | 266.9 | 8.58 | 254.55 | 0.71 | 61.36 | 26.64 | 61.55 | 106.24 | -62.44 | 107.84 | 5.18 | -7.84 | 0 | 0.00 | 0 | 23.49 | 6.68 |
| 2016 (3) | 2.54 | -56.21 | 22.41 | -15.75 | 7.48 | -57.35 | 8.57 | 5.78 | 7.30 | -60.2 | 5.10 | -61.8 | 5.77 | -57.76 | 2.42 | -73.38 | 0.44 | -35.29 | 16.49 | -38.01 | 282.84 | 567.08 | 102.53 | 7.23 | -2.53 | 0 | 0.00 | 0 | 22.02 | 8.85 |
| 2015 (2) | 5.80 | -12.12 | 26.60 | 13.63 | 17.54 | 19.56 | 8.11 | -7.08 | 18.34 | 8.97 | 13.35 | 1.44 | 13.66 | -14.14 | 9.09 | -8.92 | 0.68 | -9.33 | 26.60 | 2.94 | 42.40 | -31.61 | 95.62 | 9.66 | 4.38 | -65.79 | 0.00 | 0 | 20.23 | -0.34 |
| 2014 (1) | 6.60 | 7.49 | 23.41 | 0 | 14.67 | 0 | 8.72 | -25.04 | 16.83 | 0 | 13.16 | 0 | 15.91 | 0 | 9.98 | 0 | 0.75 | 7.14 | 25.84 | -1.03 | 62.00 | 2.56 | 87.20 | -12.41 | 12.80 | 2721.84 | 0.00 | 0 | 20.30 | -0.15 |
