- 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) | 2.15 | 26.47 | -23.76 | 67.85 | -0.62 | -4.56 | 37.70 | 0.78 | -11.19 | 37.94 | -14.49 | -26.13 | 31.83 | 2.28 | -25.28 | 6.30 | 26.76 | -24.37 | 4.90 | 27.6 | -26.97 | 0.15 | 25.0 | -6.25 | 38.82 | -13.96 | -25.36 | 25.73 | -20.34 | 5.49 | 100.00 | 18.48 | 21.43 | 0.87 | -94.42 | -95.07 | 9.89 | -23.33 | 13.03 |
| 24Q2 (19) | 1.70 | -52.78 | -7.61 | 68.27 | -7.42 | 1.7 | 37.41 | -25.11 | -0.32 | 44.37 | -23.62 | -1.2 | 31.12 | -33.03 | -11.31 | 4.97 | -53.72 | -9.64 | 3.84 | -55.96 | -13.9 | 0.12 | -36.84 | -7.69 | 45.12 | -23.19 | -2.32 | 32.30 | 21.89 | 34.47 | 84.40 | -1.53 | 0.53 | 15.60 | 13.07 | -2.75 | 12.90 | 25.61 | 13.06 |
| 24Q1 (18) | 3.60 | 44.0 | 58.59 | 73.74 | -0.32 | 0.89 | 49.95 | 8.23 | 11.25 | 58.09 | 37.23 | 24.98 | 46.47 | 35.24 | 24.99 | 10.74 | 43.78 | 59.58 | 8.72 | 42.48 | 55.16 | 0.19 | 5.56 | 26.67 | 58.74 | 36.64 | 24.26 | 26.50 | 34.18 | 15.52 | 85.71 | -21.1 | -11.52 | 13.79 | 247.48 | 341.38 | 10.27 | -1.25 | 0.1 |
| 23Q4 (17) | 2.50 | -11.35 | 19.05 | 73.98 | 4.07 | 0.82 | 46.15 | 8.72 | 7.95 | 42.33 | -17.58 | -0.59 | 34.36 | -19.34 | 0.97 | 7.47 | -10.32 | 21.86 | 6.12 | -8.79 | 17.24 | 0.18 | 12.5 | 20.0 | 42.99 | -17.34 | -0.88 | 19.75 | -19.02 | 18.76 | 108.63 | 31.91 | 8.63 | -9.35 | -153.0 | 0 | 10.40 | 18.86 | 36.3 |
| 23Q3 (16) | 2.82 | 53.26 | 55.8 | 71.09 | 5.9 | -0.24 | 42.45 | 13.11 | 15.48 | 51.36 | 14.36 | 20.08 | 42.60 | 21.4 | 17.26 | 8.33 | 51.45 | 58.06 | 6.71 | 50.45 | 51.47 | 0.16 | 23.08 | 33.33 | 52.01 | 12.6 | 18.2 | 24.39 | 1.54 | 31.91 | 82.35 | -1.92 | -4.75 | 17.65 | 10.03 | 21.01 | 8.75 | -23.31 | -11.17 |
| 23Q2 (15) | 1.84 | -18.94 | 57.26 | 67.13 | -8.15 | -1.71 | 37.53 | -16.41 | 8.66 | 44.91 | -3.38 | 5.18 | 35.09 | -5.62 | 10.73 | 5.50 | -18.28 | 61.76 | 4.46 | -20.64 | 57.04 | 0.13 | -13.33 | 44.44 | 46.19 | -2.28 | 5.03 | 24.02 | 4.71 | 21.07 | 83.96 | -13.33 | 4.58 | 16.04 | 413.21 | -18.67 | 11.41 | 11.21 | -24.49 |
| 23Q1 (14) | 2.27 | 8.1 | -7.72 | 73.09 | -0.4 | 4.52 | 44.90 | 5.03 | 1.77 | 46.48 | 9.16 | -13.57 | 37.18 | 9.26 | -13.7 | 6.73 | 9.79 | -6.4 | 5.62 | 7.66 | -6.33 | 0.15 | 0.0 | 7.14 | 47.27 | 8.99 | -13.84 | 22.94 | 37.94 | 11.74 | 96.88 | -3.12 | 17.27 | 3.12 | 0 | -82.75 | 10.26 | 34.47 | 11.16 |
| 22Q4 (13) | 2.10 | 16.02 | 14.13 | 73.38 | 2.98 | 15.8 | 42.75 | 16.29 | 42.31 | 42.58 | -0.44 | 44.34 | 34.03 | -6.33 | 23.79 | 6.13 | 16.32 | 18.8 | 5.22 | 17.83 | 24.29 | 0.15 | 25.0 | 0.0 | 43.37 | -1.43 | 42.38 | 16.63 | -10.06 | -13.79 | 100.00 | 15.66 | -2.2 | 0.00 | -100.0 | 100.0 | 7.63 | -22.54 | -30.26 |
| 22Q3 (12) | 1.81 | 54.7 | -21.65 | 71.26 | 4.33 | 16.72 | 36.76 | 6.43 | -0.49 | 42.77 | 0.16 | 18.74 | 36.33 | 14.64 | 15.63 | 5.27 | 55.0 | -13.04 | 4.43 | 55.99 | -8.28 | 0.12 | 33.33 | -20.0 | 44.00 | 0.05 | 19.37 | 18.49 | -6.8 | -30.25 | 86.46 | 7.69 | -15.67 | 14.58 | -26.04 | 678.47 | 9.85 | -34.81 | 25.8 |
| 22Q2 (11) | 1.17 | -52.44 | 116.67 | 68.30 | -2.33 | 17.41 | 34.54 | -21.71 | 12.73 | 42.70 | -20.6 | 71.9 | 31.69 | -26.44 | 204.13 | 3.40 | -52.71 | 153.73 | 2.84 | -52.67 | 165.42 | 0.09 | -35.71 | -10.0 | 43.98 | -19.83 | 66.72 | 19.84 | -3.36 | -20.19 | 80.28 | -2.82 | -35.33 | 19.72 | 8.85 | 181.69 | 15.11 | 63.71 | 66.78 |
| 22Q1 (10) | 2.46 | 33.7 | 30.85 | 69.93 | 10.35 | 1.33 | 44.12 | 46.87 | 14.9 | 53.78 | 82.31 | 21.45 | 43.08 | 56.71 | 20.94 | 7.19 | 39.34 | 65.67 | 6.00 | 42.86 | 65.29 | 0.14 | -6.67 | 40.0 | 54.86 | 80.11 | 19.78 | 20.53 | 6.43 | -22.29 | 82.61 | -19.21 | -4.68 | 18.12 | 906.16 | 35.87 | 9.23 | -15.63 | -8.88 |
| 21Q4 (9) | 1.84 | -20.35 | -84.3 | 63.37 | 3.8 | -6.4 | 30.04 | -18.68 | 4.52 | 29.50 | -18.1 | -90.11 | 27.49 | -12.51 | -89.09 | 5.16 | -14.85 | -83.43 | 4.20 | -13.04 | -84.77 | 0.15 | 0.0 | 36.36 | 30.46 | -17.36 | -89.83 | 19.29 | -27.24 | 44.71 | 102.25 | -0.27 | 965.07 | -2.25 | 10.86 | -102.49 | 10.94 | 39.72 | -26.48 |
| 21Q3 (8) | 2.31 | 327.78 | 50.98 | 61.05 | 4.95 | -11.1 | 36.94 | 20.56 | -5.6 | 36.02 | 45.01 | -4.07 | 31.42 | 201.54 | 5.65 | 6.06 | 352.24 | 19.76 | 4.83 | 351.4 | 12.85 | 0.15 | 50.0 | 7.14 | 36.86 | 39.73 | -5.39 | 26.51 | 6.64 | 112.76 | 102.52 | -17.41 | -0.9 | -2.52 | 89.56 | 45.17 | 7.83 | -13.58 | -14.24 |
| 21Q2 (7) | 0.54 | -71.28 | 80.0 | 58.17 | -15.71 | -5.08 | 30.64 | -20.21 | 83.58 | 24.84 | -43.9 | 93.01 | 10.42 | -70.75 | 7.31 | 1.34 | -69.12 | 28.85 | 1.07 | -70.52 | 28.92 | 0.10 | 0.0 | 25.0 | 26.38 | -42.4 | 69.1 | 24.86 | -5.9 | -0.84 | 124.14 | 43.24 | -2.85 | -24.14 | -281.03 | 13.1 | 9.06 | -10.56 | 0 |
| 21Q1 (6) | 1.88 | -83.96 | 66.37 | 69.01 | 1.94 | -1.36 | 38.40 | 33.61 | 11.37 | 44.28 | -85.15 | 28.2 | 35.62 | -85.86 | 28.68 | 4.34 | -86.06 | 36.48 | 3.63 | -86.83 | 32.48 | 0.10 | -9.09 | 0.0 | 45.80 | -84.71 | 25.1 | 26.42 | 98.2 | -4.96 | 86.67 | 802.78 | -13.33 | 13.33 | -85.25 | 0 | 10.13 | -31.92 | 0 |
| 20Q4 (5) | 11.72 | 666.01 | 551.11 | 67.70 | -1.41 | -15.44 | 28.74 | -26.55 | -20.26 | 298.24 | 694.25 | 802.66 | 251.98 | 747.28 | 632.93 | 31.14 | 515.42 | 606.12 | 27.57 | 544.16 | 610.57 | 0.11 | -21.43 | 0.0 | 299.52 | 668.79 | 761.93 | 13.33 | 6.98 | 48.77 | 9.60 | -90.72 | -91.19 | 90.40 | 2066.2 | 1107.31 | 14.88 | 62.98 | 28.06 |
| 20Q3 (4) | 1.53 | 410.0 | 0.0 | 68.67 | 12.06 | 0.0 | 39.13 | 134.45 | 0.0 | 37.55 | 191.76 | 0.0 | 29.74 | 206.28 | 0.0 | 5.06 | 386.54 | 0.0 | 4.28 | 415.66 | 0.0 | 0.14 | 75.0 | 0.0 | 38.96 | 149.74 | 0.0 | 12.46 | -50.3 | 0.0 | 103.45 | -19.04 | 0.0 | -4.60 | 83.45 | 0.0 | 9.13 | 0 | 0.0 |
| 20Q2 (3) | 0.30 | -73.45 | 0.0 | 61.28 | -12.41 | 0.0 | 16.69 | -51.6 | 0.0 | 12.87 | -62.74 | 0.0 | 9.71 | -64.92 | 0.0 | 1.04 | -67.3 | 0.0 | 0.83 | -69.71 | 0.0 | 0.08 | -20.0 | 0.0 | 15.60 | -57.39 | 0.0 | 25.07 | -9.82 | 0.0 | 127.78 | 27.78 | 0.0 | -27.78 | 0 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 1.13 | -37.22 | 0.0 | 69.96 | -12.62 | 0.0 | 34.48 | -4.33 | 0.0 | 34.54 | 4.54 | 0.0 | 27.68 | -19.49 | 0.0 | 3.18 | -27.89 | 0.0 | 2.74 | -29.38 | 0.0 | 0.10 | -9.09 | 0.0 | 36.61 | 5.35 | 0.0 | 27.80 | 210.27 | 0.0 | 100.00 | -8.24 | 0.0 | 0.00 | 100.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 1.80 | 0.0 | 0.0 | 80.06 | 0.0 | 0.0 | 36.04 | 0.0 | 0.0 | 33.04 | 0.0 | 0.0 | 34.38 | 0.0 | 0.0 | 4.41 | 0.0 | 0.0 | 3.88 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 34.75 | 0.0 | 0.0 | 8.96 | 0.0 | 0.0 | 108.97 | 0.0 | 0.0 | -8.97 | 0.0 | 0.0 | 11.62 | 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) | 9.43 | 24.9 | 71.58 | 0.82 | 43.09 | 7.16 | 0.79 | -26.62 | 46.24 | 1.05 | 37.35 | 1.83 | 28.28 | 27.44 | 23.95 | 27.12 | 0.64 | 25.49 | 47.05 | 0.49 | 19.75 | 18.76 | 93.16 | 5.89 | 6.84 | -43.1 | 0.06 | 0 | 10.14 | 1.91 |
| 2022 (9) | 7.55 | 14.74 | 71.00 | 13.09 | 40.21 | 18.16 | 1.08 | 19.31 | 45.76 | 36.03 | 36.68 | 36.97 | 22.19 | 32.32 | 18.84 | 30.02 | 0.51 | -5.56 | 46.82 | 34.5 | 16.63 | -13.79 | 87.97 | -12.96 | 12.03 | 0 | 0.00 | 0 | 9.95 | 5.51 |
| 2021 (8) | 6.58 | -55.18 | 62.78 | -6.8 | 34.03 | 9.63 | 0.90 | -42.36 | 33.64 | -67.57 | 26.78 | -69.03 | 16.77 | -50.76 | 14.49 | -52.74 | 0.54 | 54.29 | 34.81 | -67.04 | 19.29 | 44.71 | 101.08 | 238.2 | -1.08 | 0 | 0.00 | 0 | 9.43 | -21.35 |
| 2020 (7) | 14.68 | 244.6 | 67.36 | -2.94 | 31.04 | 33.74 | 1.57 | -24.26 | 103.72 | 360.98 | 86.46 | 357.22 | 34.06 | 219.21 | 30.66 | 215.43 | 0.35 | -31.37 | 105.62 | 323.33 | 13.33 | 48.77 | 29.89 | -71.0 | 70.11 | 0 | 0.13 | -45.62 | 11.99 | -4.92 |
| 2019 (6) | 4.26 | 674.55 | 69.40 | 14.07 | 23.21 | 215.78 | 2.07 | 10.8 | 22.50 | 242.47 | 18.91 | 632.95 | 10.67 | 667.63 | 9.72 | 671.43 | 0.51 | 4.08 | 24.95 | 189.44 | 8.96 | -23.87 | 103.07 | -8.54 | -3.07 | 0 | 0.24 | -33.48 | 12.61 | -14.39 |
| 2018 (5) | 0.55 | -80.22 | 60.84 | -3.37 | 7.35 | -51.87 | 1.87 | 118.93 | 6.57 | -58.47 | 2.58 | -81.0 | 1.39 | -78.58 | 1.26 | -78.79 | 0.49 | 11.36 | 8.62 | -48.87 | 11.77 | 29.91 | 112.70 | 16.64 | -12.70 | 0 | 0.37 | 0 | 14.73 | 15.71 |
| 2017 (4) | 2.78 | -60.62 | 62.96 | -8.94 | 15.27 | -54.09 | 0.85 | 96.54 | 15.82 | -51.44 | 13.58 | -49.94 | 6.49 | -68.75 | 5.94 | -68.47 | 0.44 | -36.23 | 16.86 | -49.06 | 9.06 | -4.53 | 96.62 | -5.4 | 3.38 | 0 | 0.00 | 0 | 12.73 | 18.42 |
| 2016 (3) | 7.06 | -12.84 | 69.14 | 1.17 | 33.26 | 8.59 | 0.43 | 25.25 | 32.58 | 3.1 | 27.13 | 2.77 | 20.77 | -15.74 | 18.84 | -13.7 | 0.69 | -16.87 | 33.10 | 2.64 | 9.49 | -19.64 | 102.13 | 5.22 | -2.13 | 0 | 0.00 | 0 | 10.75 | -7.17 |
| 2015 (2) | 8.10 | -6.68 | 68.34 | 1.33 | 30.63 | -18.52 | 0.35 | -23.35 | 31.60 | -28.56 | 26.40 | -26.87 | 24.65 | -29.15 | 21.83 | -28.61 | 0.83 | -2.35 | 32.25 | -28.01 | 11.81 | -15.82 | 97.07 | 14.22 | 2.93 | -80.49 | 0.00 | 0 | 11.58 | 40.19 |
| 2014 (1) | 8.68 | -25.94 | 67.44 | 0 | 37.59 | 0 | 0.45 | 155.66 | 44.23 | 0 | 36.10 | 0 | 34.79 | 0 | 30.58 | 0 | 0.85 | -36.57 | 44.80 | 11.5 | 14.03 | 5.57 | 84.98 | -13.87 | 15.02 | 1026.28 | 0.00 | 0 | 8.26 | 21.29 |
