- 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) | 5.61 | -7.88 | 7.06 | 54.05 | -6.92 | 0.78 | 28.31 | -14.08 | 9.9 | 31.25 | -5.33 | 14.55 | 26.76 | -8.86 | 17.21 | 4.26 | -11.8 | -11.62 | 3.12 | -9.57 | -11.36 | 0.11 | 0.0 | -26.67 | 42.56 | -5.4 | 1.67 | 36.24 | -17.79 | 12.9 | 90.73 | -9.1 | -3.81 | 9.46 | 5017.57 | 73.3 | 31.66 | -2.28 | -3.77 |
| 24Q2 (19) | 6.09 | -6.88 | 16.44 | 58.07 | 0.61 | 13.71 | 32.95 | -3.94 | 21.95 | 33.01 | -3.59 | 21.49 | 29.36 | -1.64 | 27.32 | 4.83 | -7.65 | -18.27 | 3.45 | -8.73 | -10.62 | 0.11 | -8.33 | -31.25 | 44.99 | -3.83 | 5.31 | 44.08 | 1.38 | -14.95 | 99.82 | -0.35 | 0.5 | 0.18 | 209.24 | -72.95 | 32.40 | 3.35 | 9.68 |
| 24Q1 (18) | 6.54 | -17.32 | 35.4 | 57.72 | -0.14 | 9.96 | 34.30 | 0.09 | 20.86 | 34.24 | 2.76 | 23.92 | 29.85 | 5.33 | 26.32 | 5.23 | -12.25 | -4.39 | 3.78 | -15.63 | 4.71 | 0.12 | -20.0 | -20.0 | 46.78 | 4.19 | 4.58 | 43.48 | 11.89 | -29.98 | 100.17 | -2.56 | -2.49 | -0.17 | 93.95 | 93.8 | 31.35 | 15.47 | -2.85 |
| 23Q4 (17) | 7.91 | 50.95 | 32.27 | 57.80 | 7.78 | 11.05 | 34.27 | 33.04 | 15.62 | 33.32 | 22.14 | 18.03 | 28.34 | 24.13 | 18.73 | 5.96 | 23.65 | -11.83 | 4.48 | 27.27 | -3.03 | 0.15 | 0.0 | -21.05 | 44.90 | 7.26 | 6.05 | 38.86 | 21.06 | -18.07 | 102.80 | 8.99 | -2.27 | -2.80 | -151.26 | 43.92 | 27.15 | -17.48 | -0.44 |
| 23Q3 (16) | 5.24 | 0.19 | -12.96 | 53.63 | 5.01 | 5.01 | 25.76 | -4.66 | -9.55 | 27.28 | 0.4 | -8.12 | 22.83 | -1.0 | -11.03 | 4.82 | -18.44 | -33.24 | 3.52 | -8.81 | -23.14 | 0.15 | -6.25 | -16.67 | 41.86 | -2.01 | -6.6 | 32.10 | -38.07 | -35.77 | 94.32 | -5.03 | -1.85 | 5.46 | 698.76 | 32.91 | 32.90 | 11.37 | 12.67 |
| 23Q2 (15) | 5.23 | 8.28 | 6.95 | 51.07 | -2.71 | -4.79 | 27.02 | -4.79 | -6.28 | 27.17 | -1.66 | -5.26 | 23.06 | -2.41 | -4.36 | 5.91 | 8.04 | -5.74 | 3.86 | 6.93 | 3.49 | 0.16 | 6.67 | 6.67 | 42.72 | -4.49 | -6.13 | 51.83 | -16.54 | -26.74 | 99.32 | -3.32 | -1.17 | 0.68 | 125.04 | 238.72 | 29.54 | -8.46 | -4.4 |
| 23Q1 (14) | 4.83 | -19.23 | -6.03 | 52.49 | 0.85 | -1.54 | 28.38 | -4.25 | 1.1 | 27.63 | -2.13 | -2.71 | 23.63 | -1.01 | -1.99 | 5.47 | -19.08 | -17.74 | 3.61 | -21.86 | -12.59 | 0.15 | -21.05 | -11.76 | 44.73 | 5.64 | 4.0 | 62.10 | 30.93 | -9.05 | 102.73 | -2.34 | 3.96 | -2.73 | 45.3 | -330.92 | 32.27 | 18.34 | 3.93 |
| 22Q4 (13) | 5.98 | -0.66 | 13.9 | 52.05 | 1.92 | -4.28 | 29.64 | 4.07 | 6.31 | 28.23 | -4.92 | 1.69 | 23.87 | -6.98 | 1.06 | 6.76 | -6.37 | -2.03 | 4.62 | 0.87 | 5.72 | 0.19 | 5.56 | 5.56 | 42.34 | -5.53 | 2.82 | 47.43 | -5.1 | -14.53 | 105.19 | 9.46 | 4.7 | -4.99 | -221.51 | -975.35 | 27.27 | -6.61 | -9.04 |
| 22Q3 (12) | 6.02 | 23.11 | 16.67 | 51.07 | -4.79 | -3.55 | 28.48 | -1.21 | 3.0 | 29.69 | 3.52 | 6.95 | 25.66 | 6.43 | 7.45 | 7.22 | 15.15 | -1.1 | 4.58 | 22.79 | 1.1 | 0.18 | 20.0 | -5.26 | 44.82 | -1.52 | 13.96 | 49.98 | -29.36 | -18.73 | 96.10 | -4.37 | -3.44 | 4.11 | 933.68 | 762.42 | 29.20 | -5.5 | -4.14 |
| 22Q2 (11) | 4.89 | -4.86 | 15.88 | 53.64 | 0.62 | 2.9 | 28.83 | 2.71 | 16.16 | 28.68 | 0.99 | 19.1 | 24.11 | 0.0 | 12.82 | 6.27 | -5.71 | -2.03 | 3.73 | -9.69 | -9.9 | 0.15 | -11.76 | -21.05 | 45.51 | 5.81 | 32.88 | 70.75 | 3.62 | 14.37 | 100.49 | 1.69 | -2.44 | -0.49 | -141.67 | 83.6 | 30.90 | -0.48 | 1.28 |
| 22Q1 (10) | 5.14 | -2.1 | 60.12 | 53.31 | -1.97 | 2.24 | 28.07 | 0.68 | 21.25 | 28.40 | 2.31 | 25.28 | 24.11 | 2.07 | 23.01 | 6.65 | -3.62 | 34.07 | 4.13 | -5.49 | 19.36 | 0.17 | -5.56 | -5.56 | 43.01 | 4.44 | 24.49 | 68.28 | 23.05 | 42.04 | 98.82 | -1.64 | -3.05 | 1.18 | 354.73 | 151.22 | 31.05 | 3.57 | -5.25 |
| 21Q4 (9) | 5.25 | 1.74 | 30.6 | 54.38 | 2.7 | 3.31 | 27.88 | 0.83 | 13.01 | 27.76 | 0.0 | 17.63 | 23.62 | -1.09 | 18.69 | 6.90 | -5.48 | 9.35 | 4.37 | -3.53 | -4.59 | 0.18 | -5.26 | -21.74 | 41.18 | 4.7 | 23.29 | 55.49 | -9.77 | 40.09 | 100.46 | 0.94 | -3.85 | -0.46 | -197.45 | 89.67 | 29.98 | -1.58 | 20.16 |
| 21Q3 (8) | 5.16 | 22.27 | 77.93 | 52.95 | 1.57 | 1.94 | 27.65 | 11.4 | 20.74 | 27.76 | 15.28 | 18.63 | 23.88 | 11.75 | 18.69 | 7.30 | 14.06 | 51.45 | 4.53 | 9.42 | 27.25 | 0.19 | 0.0 | 5.56 | 39.33 | 14.83 | 2.45 | 61.50 | -0.58 | 67.03 | 99.52 | -3.38 | 1.68 | 0.48 | 115.86 | -77.52 | 30.46 | -0.16 | -1.93 |
| 21Q2 (7) | 4.22 | 31.46 | 111.0 | 52.13 | -0.02 | 5.89 | 24.82 | 7.21 | 21.43 | 24.08 | 6.22 | 20.76 | 21.37 | 9.03 | 27.51 | 6.40 | 29.03 | 84.44 | 4.14 | 19.65 | 59.23 | 0.19 | 5.56 | 26.67 | 34.25 | -0.87 | -12.27 | 61.86 | 28.69 | 76.59 | 103.00 | 1.06 | 0.59 | -3.00 | -30.13 | -25.38 | 30.51 | -6.9 | -1.74 |
| 21Q1 (6) | 3.21 | -20.15 | 146.92 | 52.14 | -0.95 | 15.56 | 23.15 | -6.16 | 58.45 | 22.67 | -3.94 | 50.33 | 19.60 | -1.51 | 55.06 | 4.96 | -21.39 | 118.5 | 3.46 | -24.45 | 98.85 | 0.18 | -21.74 | 28.57 | 34.55 | 3.44 | -8.74 | 48.07 | 21.36 | 43.92 | 101.92 | -2.46 | 5.81 | -2.31 | 48.62 | -183.85 | 32.77 | 31.34 | -3.25 |
| 20Q4 (5) | 4.02 | 38.62 | 41.55 | 52.64 | 1.35 | 14.21 | 24.67 | 7.73 | 26.12 | 23.60 | 0.85 | 24.34 | 19.90 | -1.09 | 11.99 | 6.31 | 30.91 | 15.57 | 4.58 | 28.65 | 33.92 | 0.23 | 27.78 | 21.05 | 33.40 | -13.0 | -8.34 | 39.61 | 7.58 | 27.86 | 104.49 | 6.75 | 1.81 | -4.49 | -311.98 | -42.22 | 24.95 | -19.67 | -2.0 |
| 20Q3 (4) | 2.90 | 45.0 | 0.0 | 51.94 | 5.5 | 0.0 | 22.90 | 12.04 | 0.0 | 23.40 | 17.35 | 0.0 | 20.12 | 20.05 | 0.0 | 4.82 | 38.9 | 0.0 | 3.56 | 36.92 | 0.0 | 0.18 | 20.0 | 0.0 | 38.39 | -1.66 | 0.0 | 36.82 | 5.11 | 0.0 | 97.88 | -4.41 | 0.0 | 2.12 | 188.45 | 0.0 | 31.06 | 0.03 | 0.0 |
| 20Q2 (3) | 2.00 | 53.85 | 0.0 | 49.23 | 9.11 | 0.0 | 20.44 | 39.9 | 0.0 | 19.94 | 32.23 | 0.0 | 16.76 | 32.59 | 0.0 | 3.47 | 52.86 | 0.0 | 2.60 | 49.43 | 0.0 | 0.15 | 7.14 | 0.0 | 39.04 | 3.12 | 0.0 | 35.03 | 4.88 | 0.0 | 102.40 | 6.3 | 0.0 | -2.40 | -187.03 | 0.0 | 31.05 | -8.33 | 0.0 |
| 20Q1 (2) | 1.30 | -54.23 | 0.0 | 45.12 | -2.1 | 0.0 | 14.61 | -25.31 | 0.0 | 15.08 | -20.55 | 0.0 | 12.64 | -28.87 | 0.0 | 2.27 | -58.42 | 0.0 | 1.74 | -49.12 | 0.0 | 0.14 | -26.32 | 0.0 | 37.86 | 3.9 | 0.0 | 33.40 | 7.81 | 0.0 | 96.33 | -6.14 | 0.0 | 2.75 | 187.16 | 0.0 | 33.87 | 33.03 | 0.0 |
| 19Q4 (1) | 2.84 | 0.0 | 0.0 | 46.09 | 0.0 | 0.0 | 19.56 | 0.0 | 0.0 | 18.98 | 0.0 | 0.0 | 17.77 | 0.0 | 0.0 | 5.46 | 0.0 | 0.0 | 3.42 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 36.44 | 0.0 | 0.0 | 30.98 | 0.0 | 0.0 | 102.63 | 0.0 | 0.0 | -3.16 | 0.0 | 0.0 | 25.46 | 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) | 22.83 | 3.63 | 54.03 | 3.01 | 29.18 | 1.35 | 13.59 | -7.01 | 29.14 | 1.36 | 24.71 | 1.06 | 20.38 | -20.92 | 14.64 | -15.13 | 0.58 | -17.14 | 43.61 | -0.59 | 38.86 | -18.07 | 100.10 | -0.06 | -0.10 | 0 | 0.14 | -37.28 | 30.24 | 2.61 |
| 2022 (9) | 22.03 | 23.49 | 52.45 | -1.0 | 28.79 | 10.35 | 14.62 | 25.44 | 28.75 | 11.39 | 24.45 | 9.59 | 25.77 | 4.29 | 17.25 | 3.23 | 0.70 | -6.67 | 43.87 | 16.61 | 47.43 | -14.53 | 100.17 | -0.93 | -0.17 | 0 | 0.23 | 40.76 | 29.47 | -4.35 |
| 2021 (8) | 17.84 | 74.56 | 52.98 | 5.14 | 26.09 | 21.29 | 11.65 | -23.5 | 25.81 | 21.52 | 22.31 | 24.08 | 24.71 | 49.4 | 16.71 | 36.3 | 0.75 | 10.29 | 37.62 | 2.65 | 55.49 | 40.09 | 101.11 | -0.19 | -1.11 | 0 | 0.16 | 74.79 | 30.81 | 4.8 |
| 2020 (7) | 10.22 | 34.12 | 50.39 | 13.24 | 21.51 | 21.87 | 15.23 | -25.39 | 21.24 | 27.03 | 17.98 | 26.89 | 16.54 | 5.42 | 12.26 | 17.55 | 0.68 | -4.23 | 36.65 | -3.17 | 39.61 | 27.86 | 101.30 | -4.0 | -1.30 | 0 | 0.09 | -0.69 | 29.40 | -1.93 |
| 2019 (6) | 7.62 | -15.52 | 44.50 | -13.17 | 17.65 | -30.1 | 20.42 | 24.69 | 16.72 | -31.14 | 14.17 | -17.95 | 15.69 | -49.61 | 10.43 | -32.97 | 0.71 | -20.22 | 37.85 | -7.73 | 30.98 | -70.93 | 105.53 | 1.39 | -5.53 | 0 | 0.09 | 95.24 | 29.98 | -17.55 |
| 2018 (5) | 9.02 | 78.61 | 51.25 | 6.55 | 25.25 | 54.43 | 16.37 | 34.82 | 24.28 | 44.52 | 17.27 | 24.42 | 31.14 | 38.4 | 15.56 | 23.3 | 0.89 | -1.11 | 41.02 | 40.53 | 106.56 | 8.44 | 104.08 | 6.99 | -4.08 | 0 | 0.05 | 40.29 | 36.36 | 0.33 |
| 2017 (4) | 5.05 | 62.38 | 48.10 | -5.0 | 16.35 | 14.58 | 12.14 | -16.4 | 16.80 | 18.73 | 13.88 | 23.27 | 22.50 | 36.53 | 12.62 | 21.35 | 0.90 | -1.1 | 29.19 | 0.48 | 98.27 | 71.56 | 97.28 | -3.55 | 2.72 | 0 | 0.03 | 0 | 36.24 | 4.95 |
| 2016 (3) | 3.11 | 46.7 | 50.63 | -1.11 | 14.27 | 36.42 | 14.53 | -7.31 | 14.15 | 20.63 | 11.26 | 15.84 | 16.48 | 26.96 | 10.40 | 30.82 | 0.91 | 15.19 | 29.05 | 3.82 | 57.28 | -11.93 | 100.85 | 12.63 | -0.85 | 0 | 0.00 | 0 | 34.53 | -17.84 |
| 2015 (2) | 2.12 | 64.34 | 51.20 | 6.56 | 10.46 | 62.17 | 15.67 | 12.77 | 11.73 | 56.61 | 9.72 | 29.77 | 12.98 | 37.5 | 7.95 | 42.47 | 0.79 | 11.27 | 27.98 | 26.95 | 65.04 | -9.12 | 89.54 | 4.72 | 11.11 | -23.33 | 0.00 | 0 | 42.03 | 5.6 |
| 2014 (1) | 1.29 | 21.7 | 48.05 | 0 | 6.45 | 0 | 13.90 | 1.06 | 7.49 | 0 | 7.49 | 0 | 9.44 | 0 | 5.58 | 0 | 0.71 | 4.41 | 22.04 | -0.14 | 71.57 | -19.6 | 85.51 | 28.26 | 14.49 | -56.52 | 0.00 | 0 | 39.80 | -15.17 |
