- 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) | 2.08 | -8.77 | -36.39 | 52.06 | 1.36 | 25.96 | 29.90 | 23.81 | 42.25 | 31.94 | -31.72 | -39.03 | 26.44 | -32.55 | -38.11 | 3.01 | -11.99 | -39.44 | 2.63 | -7.72 | -40.77 | 0.10 | 42.86 | 0.0 | 33.75 | -31.42 | -37.53 | 8.92 | -55.6 | 20.7 | 93.61 | 81.48 | 132.77 | 6.39 | -86.81 | -89.34 | 13.34 | -19.93 | 7.49 |
| 24Q2 (19) | 2.28 | 0.44 | -23.49 | 51.36 | 11.48 | 27.54 | 24.15 | 71.03 | 28.46 | 46.78 | -25.47 | 10.2 | 39.20 | -20.44 | -10.91 | 3.42 | 1.79 | -28.15 | 2.85 | -2.4 | -29.28 | 0.07 | 16.67 | -22.22 | 49.21 | -25.34 | 11.08 | 20.09 | -2.19 | 21.17 | 51.58 | 128.23 | 16.69 | 48.42 | -37.62 | -13.22 | 16.66 | -23.82 | 31.18 |
| 24Q1 (18) | 2.27 | -0.87 | 482.05 | 46.07 | 5.25 | 14.8 | 14.12 | -42.08 | 0.28 | 62.77 | 90.73 | 277.22 | 49.27 | 54.79 | 473.57 | 3.36 | 0.9 | 460.0 | 2.92 | -4.58 | 450.94 | 0.06 | -40.0 | 0.0 | 65.91 | 88.8 | 239.92 | 20.54 | 95.06 | 2.96 | 22.60 | -69.52 | -73.19 | 77.61 | 200.26 | 394.27 | 21.87 | 69.14 | 27.0 |
| 23Q4 (17) | 2.29 | -29.97 | 472.5 | 43.77 | 5.9 | 2.39 | 24.38 | 15.98 | 10.97 | 32.91 | -37.18 | 228.44 | 31.83 | -25.49 | 306.51 | 3.33 | -33.0 | 464.41 | 3.06 | -31.08 | 456.36 | 0.10 | 0.0 | 42.86 | 34.91 | -35.39 | 182.44 | 10.53 | 42.49 | 55.77 | 74.15 | 84.38 | -66.0 | 25.85 | -56.87 | 121.67 | 12.93 | 4.19 | 38.44 |
| 23Q3 (16) | 3.27 | 9.73 | -24.31 | 41.33 | 2.63 | -5.21 | 21.02 | 11.81 | -23.65 | 52.39 | 23.42 | -28.23 | 42.72 | -2.91 | -27.4 | 4.97 | 4.41 | -24.92 | 4.44 | 10.17 | -23.05 | 0.10 | 11.11 | 0.0 | 54.03 | 21.96 | -27.59 | 7.39 | -55.43 | -4.27 | 40.22 | -9.03 | 6.5 | 59.94 | 7.43 | -3.88 | 12.41 | -2.28 | 17.63 |
| 23Q2 (15) | 2.98 | 664.1 | -22.6 | 40.27 | 0.35 | -1.68 | 18.80 | 33.52 | -36.81 | 42.45 | 155.11 | -12.67 | 44.00 | 412.22 | 8.83 | 4.76 | 693.33 | -24.56 | 4.03 | 660.38 | -20.36 | 0.09 | 50.0 | -30.77 | 44.30 | 128.47 | -11.12 | 16.58 | -16.89 | -26.18 | 44.21 | -47.56 | -27.8 | 55.79 | 255.32 | 43.91 | 12.70 | -26.25 | 66.45 |
| 23Q1 (14) | 0.39 | -2.5 | -88.95 | 40.13 | -6.13 | -14.05 | 14.08 | -35.91 | -59.34 | 16.64 | 66.07 | -65.85 | 8.59 | 9.71 | -76.18 | 0.60 | 1.69 | -92.28 | 0.53 | -3.64 | -91.24 | 0.06 | -14.29 | -64.71 | 19.39 | 56.88 | -61.14 | 19.95 | 195.12 | -26.33 | 84.30 | -61.34 | 18.65 | 15.70 | 113.16 | -45.76 | 17.22 | 84.37 | 73.41 |
| 22Q4 (13) | 0.40 | -90.74 | -89.07 | 42.75 | -1.95 | -6.35 | 21.97 | -20.2 | -38.84 | 10.02 | -86.27 | -74.15 | 7.83 | -86.69 | -74.94 | 0.59 | -91.09 | -95.09 | 0.55 | -90.47 | -93.98 | 0.07 | -30.0 | -75.86 | 12.36 | -83.44 | -69.0 | 6.76 | -12.44 | -78.15 | 218.07 | 477.52 | 135.2 | -119.28 | -291.29 | -1738.23 | 9.34 | -11.47 | 15.59 |
| 22Q3 (12) | 4.32 | 12.21 | -5.26 | 43.60 | 6.45 | -6.28 | 27.53 | -7.46 | -26.29 | 73.00 | 50.17 | 75.23 | 58.84 | 45.54 | 75.75 | 6.62 | 4.91 | -61.84 | 5.77 | 14.03 | -53.65 | 0.10 | -23.08 | -72.97 | 74.62 | 49.72 | 74.8 | 7.72 | -65.63 | -76.13 | 37.76 | -38.33 | -57.88 | 62.36 | 60.83 | 502.77 | 10.55 | 38.27 | 41.8 |
| 22Q2 (11) | 3.85 | 9.07 | -37.5 | 40.96 | -12.27 | -11.01 | 29.75 | -14.09 | -18.83 | 48.61 | -0.23 | 37.08 | 40.43 | 12.12 | 44.75 | 6.31 | -18.79 | -51.46 | 5.06 | -16.36 | -45.24 | 0.13 | -23.53 | -60.61 | 49.84 | -0.12 | 36.17 | 22.46 | -17.06 | -52.89 | 61.23 | -13.82 | -40.81 | 38.77 | 33.92 | 1281.47 | 7.63 | -23.16 | -2.43 |
| 22Q1 (10) | 3.53 | -3.55 | -25.37 | 46.69 | 2.28 | 5.87 | 34.63 | -3.59 | 8.02 | 48.72 | 25.7 | 42.21 | 36.06 | 15.39 | 26.3 | 7.77 | -35.36 | -27.18 | 6.05 | -33.81 | -25.77 | 0.17 | -41.38 | -39.29 | 49.90 | 25.16 | 40.09 | 27.08 | -12.48 | -19.64 | 71.05 | -23.37 | -24.07 | 28.95 | 297.63 | 350.35 | 9.93 | 22.9 | 9.0 |
| 21Q4 (9) | 3.66 | -19.74 | -53.08 | 45.65 | -1.87 | 15.6 | 35.92 | -3.83 | 43.16 | 38.76 | -6.96 | -42.14 | 31.25 | -6.66 | -45.25 | 12.02 | -30.72 | -40.44 | 9.14 | -26.59 | -40.42 | 0.29 | -21.62 | 7.41 | 39.87 | -6.61 | -42.44 | 30.94 | -4.33 | 9.06 | 92.72 | 3.42 | 147.49 | 7.28 | -29.62 | -88.36 | 8.08 | 8.6 | -34.68 |
| 21Q3 (8) | 4.56 | -25.97 | 168.24 | 46.52 | 1.06 | 31.19 | 37.35 | 1.91 | 19.67 | 41.66 | 17.48 | 38.18 | 33.48 | 19.87 | 33.39 | 17.35 | 33.46 | 228.6 | 12.45 | 34.74 | 225.92 | 0.37 | 12.12 | 146.67 | 42.69 | 16.64 | 30.67 | 32.34 | -32.17 | -9.97 | 89.66 | -13.34 | -13.77 | 10.34 | 415.25 | 412.41 | 7.44 | -4.86 | -14.09 |
| 21Q2 (7) | 6.16 | 30.23 | 503.92 | 46.03 | 4.38 | 91.63 | 36.65 | 14.32 | 409.74 | 35.46 | 3.5 | 469.18 | 27.93 | -2.17 | 281.56 | 13.00 | 21.84 | 285.76 | 9.24 | 13.37 | 281.82 | 0.33 | 17.86 | 0.0 | 36.60 | 2.75 | 396.61 | 47.68 | 41.48 | 16.24 | 103.45 | 10.56 | -9.64 | -3.28 | -151.05 | 77.36 | 7.82 | -14.16 | 0 |
| 21Q1 (6) | 4.73 | -39.36 | 865.31 | 44.10 | 11.67 | 124.54 | 32.06 | 27.78 | 898.75 | 34.26 | -48.86 | 654.63 | 28.55 | -49.98 | 624.62 | 10.67 | -47.13 | 558.64 | 8.15 | -46.87 | 602.59 | 0.28 | 3.7 | -3.45 | 35.62 | -48.58 | 474.52 | 33.70 | 18.79 | -12.81 | 93.57 | 149.77 | 31.0 | 6.43 | -89.72 | -77.5 | 9.11 | -26.35 | 1.11 |
| 20Q4 (5) | 7.80 | 358.82 | 2008.11 | 39.49 | 11.36 | 143.62 | 25.09 | -19.61 | 1220.53 | 66.99 | 122.19 | 51430.77 | 57.08 | 127.41 | 2014.07 | 20.18 | 282.2 | 1464.34 | 15.34 | 301.57 | 1623.6 | 0.27 | 80.0 | -15.62 | 69.27 | 112.03 | 3121.86 | 28.37 | -21.02 | -39.52 | 37.46 | -63.97 | -98.13 | 62.54 | 1988.61 | 103.47 | 12.37 | 42.84 | 0 |
| 20Q3 (4) | 1.70 | 66.67 | 0.0 | 35.46 | 47.63 | 0.0 | 31.21 | 334.08 | 0.0 | 30.15 | 383.95 | 0.0 | 25.10 | 242.9 | 0.0 | 5.28 | 56.68 | 0.0 | 3.82 | 57.85 | 0.0 | 0.15 | -54.55 | 0.0 | 32.67 | 343.28 | 0.0 | 35.92 | -12.43 | 0.0 | 103.97 | -9.19 | 0.0 | -3.31 | 77.15 | 0.0 | 8.66 | 0 | 0.0 |
| 20Q2 (3) | 1.02 | 108.16 | 0.0 | 24.02 | 22.3 | 0.0 | 7.19 | 123.99 | 0.0 | 6.23 | 37.22 | 0.0 | 7.32 | 85.79 | 0.0 | 3.37 | 108.02 | 0.0 | 2.42 | 108.62 | 0.0 | 0.33 | 13.79 | 0.0 | 7.37 | 18.87 | 0.0 | 41.02 | 6.13 | 0.0 | 114.49 | 60.29 | 0.0 | -14.49 | -150.72 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.49 | 32.43 | 0.0 | 19.64 | 21.16 | 0.0 | 3.21 | 68.95 | 0.0 | 4.54 | 3392.31 | 0.0 | 3.94 | 45.93 | 0.0 | 1.62 | 25.58 | 0.0 | 1.16 | 30.34 | 0.0 | 0.29 | -9.38 | 0.0 | 6.20 | 188.37 | 0.0 | 38.65 | -17.61 | 0.0 | 71.43 | -96.43 | 0.0 | 28.57 | 101.59 | 0.0 | 9.01 | 0 | 0.0 |
| 19Q4 (1) | 0.37 | 0.0 | 0.0 | 16.21 | 0.0 | 0.0 | 1.90 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 2.70 | 0.0 | 0.0 | 1.29 | 0.0 | 0.0 | 0.89 | 0.0 | 0.0 | 0.32 | 0.0 | 0.0 | 2.15 | 0.0 | 0.0 | 46.91 | 0.0 | 0.0 | 2000.00 | 0.0 | 0.0 | -1800.00 | 0.0 | 0.0 | 0.00 | 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) | 8.93 | -26.14 | 41.52 | -4.77 | 20.18 | -31.48 | 1.49 | 28.71 | 38.30 | -20.32 | 34.19 | -10.29 | 12.98 | -47.36 | 11.95 | -44.73 | 0.35 | -38.6 | 40.26 | -18.8 | 10.53 | 55.77 | 52.69 | -14.04 | 47.31 | 22.1 | 0.61 | 222.74 | 13.46 | 45.04 |
| 2022 (9) | 12.09 | -11.56 | 43.60 | -4.64 | 29.45 | -17.78 | 1.16 | 59.63 | 48.07 | 26.5 | 38.11 | 24.5 | 24.66 | -51.92 | 21.62 | -45.28 | 0.57 | -55.81 | 49.58 | 26.67 | 6.76 | -78.15 | 61.29 | -34.99 | 38.75 | 576.52 | 0.19 | -30.5 | 9.28 | 15.86 |
| 2021 (8) | 13.67 | 24.27 | 45.72 | 58.2 | 35.82 | 144.67 | 0.73 | 11.93 | 38.00 | 43.45 | 30.61 | 32.34 | 51.29 | 65.61 | 39.51 | 72.99 | 1.29 | 30.3 | 39.14 | 38.35 | 30.94 | 9.06 | 94.27 | 70.41 | 5.73 | -87.21 | 0.27 | -69.19 | 8.01 | -18.43 |
| 2020 (7) | 11.00 | 0 | 28.90 | 90.76 | 14.64 | 0 | 0.65 | -56.84 | 26.49 | 0 | 23.13 | 0 | 30.97 | 0 | 22.84 | 0 | 0.99 | 1.02 | 28.29 | 0 | 28.37 | -39.52 | 55.32 | 198.3 | 44.79 | -45.02 | 0.88 | -84.83 | 9.82 | -17.96 |
| 2019 (6) | -5.33 | 0 | 15.15 | 2.64 | -2.29 | 0 | 1.50 | 108.63 | -12.30 | 0 | -11.41 | 0 | -16.46 | 0 | -11.11 | 0 | 0.98 | -26.32 | -9.88 | 0 | 46.91 | 0.75 | 18.54 | -70.33 | 81.46 | 113.27 | 5.79 | 10.33 | 11.97 | 36.18 |
| 2018 (5) | 1.55 | -56.7 | 14.76 | -39.8 | 1.90 | -81.39 | 0.72 | -17.58 | 3.06 | -59.2 | 2.44 | -56.27 | 4.41 | -48.66 | 3.29 | -51.11 | 1.33 | 11.76 | 4.13 | -52.69 | 46.56 | 87.06 | 62.50 | -54.1 | 38.19 | 0 | 5.25 | 0 | 8.79 | -3.83 |
| 2017 (4) | 3.58 | -41.02 | 24.52 | -17.55 | 10.21 | -38.42 | 0.87 | 360.21 | 7.50 | -53.1 | 5.58 | -54.41 | 8.59 | -48.28 | 6.73 | -48.67 | 1.19 | 11.21 | 8.73 | -46.31 | 24.89 | -23.77 | 136.16 | 31.49 | -36.16 | 0 | 0.00 | 0 | 9.14 | 16.14 |
| 2016 (3) | 6.07 | -19.92 | 29.74 | -18.7 | 16.58 | -16.56 | 0.19 | 23.48 | 15.99 | -26.95 | 12.24 | -31.58 | 16.61 | -44.19 | 13.11 | -45.6 | 1.07 | -20.74 | 16.26 | -26.26 | 32.65 | 88.73 | 103.56 | 14.17 | -3.75 | 0 | 0.00 | 0 | 7.87 | 3.83 |
| 2015 (2) | 7.58 | -61.33 | 36.58 | 0.77 | 19.87 | -31.08 | 0.15 | 86.86 | 21.89 | -30.97 | 17.89 | -29.15 | 29.76 | -43.6 | 24.10 | -38.14 | 1.35 | -12.34 | 22.05 | -30.73 | 17.30 | -44.8 | 90.70 | -0.24 | 9.30 | 2.41 | 0.00 | 0 | 7.58 | 43.02 |
| 2014 (1) | 19.60 | -12.69 | 36.30 | 0 | 28.83 | 0 | 0.08 | 0 | 31.71 | 0 | 25.25 | 0 | 52.77 | 0 | 38.96 | 0 | 1.54 | -41.0 | 31.83 | 20.57 | 31.34 | -24.34 | 90.92 | -6.42 | 9.08 | 219.13 | 0.00 | 0 | 5.30 | 13.73 |
