- 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) | 1.04 | 28.4 | -12.61 | 39.20 | 27.9 | 5.12 | 28.08 | 53.69 | 14.05 | 26.69 | 33.18 | -5.19 | 21.37 | 24.17 | -7.25 | 3.81 | 24.1 | -16.45 | 3.15 | 30.71 | -13.7 | 0.15 | 7.14 | -6.25 | 32.42 | 24.02 | -3.25 | 15.67 | -41.75 | -23.19 | 104.08 | 13.84 | 17.09 | -6.12 | -171.43 | -147.23 | 17.56 | -0.79 | -3.52 |
| 24Q2 (19) | 0.81 | -5.81 | -8.99 | 30.65 | -9.45 | -7.49 | 18.27 | -13.66 | -12.37 | 20.04 | -17.05 | -13.36 | 17.21 | -10.97 | -12.19 | 3.07 | -4.95 | -13.76 | 2.41 | -9.06 | -11.07 | 0.14 | 0.0 | 0.0 | 26.14 | -14.41 | -9.3 | 26.90 | -2.96 | -12.92 | 91.43 | 4.49 | -0.95 | 8.57 | -31.43 | -16.43 | 17.70 | -6.0 | 0.06 |
| 24Q1 (18) | 0.86 | 16.22 | 11.69 | 33.85 | -5.47 | 0.65 | 21.16 | -9.46 | -7.15 | 24.16 | 20.26 | 11.29 | 19.33 | 16.59 | 11.54 | 3.23 | 18.32 | 6.95 | 2.65 | 14.72 | 16.23 | 0.14 | 0.0 | 7.69 | 30.54 | 15.9 | 10.61 | 27.72 | 64.71 | -13.81 | 87.50 | -23.72 | -17.23 | 12.50 | 185.0 | 318.75 | 18.83 | 8.03 | 7.72 |
| 23Q4 (17) | 0.74 | -37.82 | -37.82 | 35.81 | -3.97 | -12.85 | 23.37 | -5.08 | -20.75 | 20.09 | -28.63 | -27.18 | 16.58 | -28.04 | -24.84 | 2.73 | -40.13 | -41.42 | 2.31 | -36.71 | -33.24 | 0.14 | -12.5 | -12.5 | 26.35 | -21.37 | -15.76 | 16.83 | -17.5 | -49.4 | 114.71 | 29.04 | 6.8 | -14.71 | -213.45 | -98.53 | 17.43 | -4.23 | 12.96 |
| 23Q3 (16) | 1.19 | 33.71 | -17.93 | 37.29 | 12.56 | -9.29 | 24.62 | 18.08 | -16.71 | 28.15 | 21.7 | -21.04 | 23.04 | 17.55 | -20.82 | 4.56 | 28.09 | -23.87 | 3.65 | 34.69 | -16.09 | 0.16 | 14.29 | 6.67 | 33.51 | 16.27 | -10.47 | 20.40 | -33.96 | -44.84 | 88.89 | -3.7 | 7.34 | 12.96 | 26.39 | -24.58 | 18.20 | 2.88 | 8.92 |
| 23Q2 (15) | 0.89 | 15.58 | -32.58 | 33.13 | -1.49 | -26.72 | 20.85 | -8.51 | -37.48 | 23.13 | 6.54 | -38.16 | 19.60 | 13.1 | -35.7 | 3.56 | 17.88 | -38.73 | 2.71 | 18.86 | -34.86 | 0.14 | 7.69 | 0.0 | 28.82 | 4.38 | -26.29 | 30.89 | -3.95 | -22.17 | 92.31 | -12.68 | 2.96 | 10.26 | 279.49 | -0.85 | 17.69 | 1.2 | -1.78 |
| 23Q1 (14) | 0.77 | -35.29 | -26.67 | 33.63 | -18.16 | -25.99 | 22.79 | -22.72 | -29.96 | 21.71 | -21.31 | -39.39 | 17.33 | -21.44 | -39.47 | 3.02 | -35.19 | -35.19 | 2.28 | -34.1 | -34.86 | 0.13 | -18.75 | 8.33 | 27.61 | -11.73 | -27.11 | 32.16 | -3.31 | -19.86 | 105.71 | -1.58 | 15.55 | -5.71 | 22.86 | -167.14 | 17.48 | 13.29 | -15.84 |
| 22Q4 (13) | 1.19 | -17.93 | 43.37 | 41.09 | -0.05 | 12.39 | 29.49 | -0.24 | 16.7 | 27.59 | -22.61 | 10.27 | 22.06 | -24.19 | 10.24 | 4.66 | -22.2 | 26.29 | 3.46 | -20.46 | 20.98 | 0.16 | 6.67 | 14.29 | 31.28 | -16.43 | 16.5 | 33.26 | -10.06 | 23.74 | 107.41 | 29.7 | 4.58 | -7.41 | -143.1 | 0 | 15.43 | -7.66 | -17.4 |
| 22Q3 (12) | 1.45 | 9.85 | 83.54 | 41.11 | -9.07 | 6.2 | 29.56 | -11.36 | 12.05 | 35.65 | -4.68 | 33.97 | 29.10 | -4.53 | 40.99 | 5.99 | 3.1 | 65.01 | 4.35 | 4.57 | 63.53 | 0.15 | 7.14 | 15.38 | 37.43 | -4.27 | 28.18 | 36.98 | -6.83 | 14.56 | 82.81 | -7.63 | -14.89 | 17.19 | 66.15 | 0 | 16.71 | -7.22 | -15.31 |
| 22Q2 (11) | 1.32 | 25.71 | 180.85 | 45.21 | -0.51 | 31.5 | 33.35 | 2.49 | 65.26 | 37.40 | 4.41 | 106.74 | 30.48 | 6.46 | 111.37 | 5.81 | 24.68 | 161.71 | 4.16 | 18.86 | 156.79 | 0.14 | 16.67 | 27.27 | 39.10 | 3.22 | 90.64 | 39.69 | -1.1 | -6.94 | 89.66 | -2.0 | -21.55 | 10.34 | 21.55 | 208.62 | 18.01 | -13.29 | -18.32 |
| 22Q1 (10) | 1.05 | 26.51 | 90.91 | 45.44 | 24.29 | 15.1 | 32.54 | 28.77 | 32.55 | 35.82 | 43.17 | 47.83 | 28.63 | 43.08 | 47.96 | 4.66 | 26.29 | 82.03 | 3.50 | 22.38 | 73.27 | 0.12 | -14.29 | 20.0 | 37.88 | 41.08 | 39.37 | 40.13 | 49.29 | 16.66 | 91.49 | -10.92 | -8.51 | 8.51 | 0 | 0 | 20.77 | 11.19 | -15.19 |
| 21Q4 (9) | 0.83 | 5.06 | 277.27 | 36.56 | -5.55 | 41.16 | 25.27 | -4.21 | 111.46 | 25.02 | -5.98 | 187.92 | 20.01 | -3.05 | 189.58 | 3.69 | 1.65 | 288.42 | 2.86 | 7.52 | 266.67 | 0.14 | 7.69 | 27.27 | 26.85 | -8.05 | 125.06 | 26.88 | -16.73 | 22.24 | 102.70 | 5.56 | -28.9 | 0.00 | 0 | 100.0 | 18.68 | -5.32 | -18.64 |
| 21Q3 (8) | 0.79 | 68.09 | -5.95 | 38.71 | 12.59 | -11.03 | 26.38 | 30.72 | -12.71 | 26.61 | 47.1 | -4.21 | 20.64 | 43.13 | -7.15 | 3.63 | 63.51 | -9.25 | 2.66 | 64.2 | -11.63 | 0.13 | 18.18 | 0.0 | 29.20 | 42.37 | -3.85 | 32.28 | -24.31 | 23.96 | 97.30 | -14.86 | -9.82 | 0.00 | 100.0 | 100.0 | 19.73 | -10.52 | -3.62 |
| 21Q2 (7) | 0.47 | -14.55 | -58.41 | 34.38 | -12.92 | -11.21 | 20.18 | -17.8 | -29.19 | 18.09 | -25.34 | -34.05 | 14.42 | -25.48 | -33.7 | 2.22 | -13.28 | -61.32 | 1.62 | -19.8 | -55.74 | 0.11 | 10.0 | -35.29 | 20.51 | -24.54 | -30.52 | 42.65 | 23.98 | 0.59 | 114.29 | 14.29 | 11.85 | -9.52 | 0 | -119.05 | 22.05 | -9.96 | 0 |
| 21Q1 (6) | 0.55 | 150.0 | -41.49 | 39.48 | 52.43 | 4.2 | 24.55 | 105.44 | -8.09 | 24.23 | 178.83 | -10.13 | 19.35 | 180.03 | -10.25 | 2.56 | 169.47 | -52.59 | 2.02 | 158.97 | -42.94 | 0.10 | -9.09 | -37.5 | 27.18 | 127.83 | -6.24 | 34.40 | 56.43 | -58.52 | 100.00 | -30.77 | 0.0 | 0.00 | 100.0 | 0 | 24.49 | 6.66 | 27.69 |
| 20Q4 (5) | 0.22 | -73.81 | -68.57 | 25.90 | -40.47 | -35.2 | 11.95 | -60.46 | -56.92 | 8.69 | -68.72 | -61.26 | 6.91 | -68.92 | -61.48 | 0.95 | -76.25 | -76.6 | 0.78 | -74.09 | -75.93 | 0.11 | -15.38 | -38.89 | 11.93 | -60.72 | -52.28 | 21.99 | -15.55 | -9.51 | 144.44 | 33.88 | 18.95 | -44.44 | -462.96 | -77.78 | 22.96 | 12.16 | 13.95 |
| 20Q3 (4) | 0.84 | -25.66 | 0.0 | 43.51 | 12.37 | 0.0 | 30.22 | 6.04 | 0.0 | 27.78 | 1.28 | 0.0 | 22.23 | 2.21 | 0.0 | 4.00 | -30.31 | 0.0 | 3.01 | -17.76 | 0.0 | 0.13 | -23.53 | 0.0 | 30.37 | 2.88 | 0.0 | 26.04 | -38.58 | 0.0 | 107.89 | 5.6 | 0.0 | -7.89 | -81.58 | 0.0 | 20.47 | 0 | 0.0 |
| 20Q2 (3) | 1.13 | 20.21 | 0.0 | 38.72 | 2.19 | 0.0 | 28.50 | 6.7 | 0.0 | 27.43 | 1.74 | 0.0 | 21.75 | 0.88 | 0.0 | 5.74 | 6.3 | 0.0 | 3.66 | 3.39 | 0.0 | 0.17 | 6.25 | 0.0 | 29.52 | 1.83 | 0.0 | 42.40 | -48.88 | 0.0 | 102.17 | 2.17 | 0.0 | -4.35 | 0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.94 | 34.29 | 0.0 | 37.89 | -5.2 | 0.0 | 26.71 | -3.71 | 0.0 | 26.96 | 20.2 | 0.0 | 21.56 | 20.18 | 0.0 | 5.40 | 33.0 | 0.0 | 3.54 | 9.26 | 0.0 | 0.16 | -11.11 | 0.0 | 28.99 | 15.96 | 0.0 | 82.94 | 241.32 | 0.0 | 100.00 | -17.65 | 0.0 | 0.00 | 100.0 | 0.0 | 19.18 | -4.81 | 0.0 |
| 19Q4 (1) | 0.70 | 0.0 | 0.0 | 39.97 | 0.0 | 0.0 | 27.74 | 0.0 | 0.0 | 22.43 | 0.0 | 0.0 | 17.94 | 0.0 | 0.0 | 4.06 | 0.0 | 0.0 | 3.24 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 25.00 | 0.0 | 0.0 | 24.30 | 0.0 | 0.0 | 121.43 | 0.0 | 0.0 | -25.00 | 0.0 | 0.0 | 20.15 | 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) | 3.59 | -28.2 | 35.05 | -18.36 | 22.96 | -25.98 | 5.48 | 159.3 | 23.46 | -30.45 | 19.30 | -29.2 | 13.56 | -33.5 | 10.90 | -30.62 | 0.56 | -1.75 | 29.11 | -19.59 | 16.83 | -49.4 | 97.55 | 6.07 | 1.84 | -77.1 | 0.33 | 40.11 | 17.72 | 1.55 |
| 2022 (9) | 5.00 | 90.11 | 42.93 | 15.31 | 31.02 | 27.92 | 2.11 | 6.85 | 33.73 | 42.38 | 27.26 | 45.31 | 20.39 | 74.72 | 15.71 | 66.42 | 0.57 | 14.0 | 36.20 | 38.75 | 33.26 | 23.74 | 91.96 | -10.28 | 8.04 | 0 | 0.24 | -17.12 | 17.45 | -16.59 |
| 2021 (8) | 2.63 | -14.05 | 37.23 | 0.22 | 24.25 | -3.73 | 1.98 | -1.55 | 23.69 | 0.04 | 18.76 | -0.64 | 11.67 | -23.27 | 9.44 | -24.54 | 0.50 | -24.24 | 26.09 | 0.0 | 26.88 | 22.24 | 102.50 | -3.44 | -2.50 | 0 | 0.29 | 180.5 | 20.92 | 7.17 |
| 2020 (7) | 3.06 | 16.35 | 37.15 | 4.03 | 25.19 | 10.73 | 2.01 | -29.44 | 23.68 | 2.64 | 18.88 | 3.85 | 15.21 | 1.33 | 12.51 | 3.82 | 0.66 | 0.0 | 26.09 | 0.19 | 21.99 | -9.51 | 106.15 | 8.2 | -6.15 | 0 | 0.10 | -64.47 | 19.52 | -10.05 |
| 2019 (6) | 2.63 | -23.99 | 35.71 | -6.22 | 22.75 | -13.27 | 2.84 | 3.06 | 23.07 | -20.67 | 18.18 | -21.71 | 15.01 | -29.79 | 12.05 | -29.33 | 0.66 | -9.59 | 26.04 | -18.78 | 24.30 | -2.92 | 98.11 | 9.28 | 0.94 | -90.06 | 0.29 | -1.29 | 21.70 | 3.24 |
| 2018 (5) | 3.46 | 88.04 | 38.08 | 8.06 | 26.23 | 23.2 | 2.76 | -16.05 | 29.08 | 51.62 | 23.22 | 46.31 | 21.38 | 67.82 | 17.05 | 64.58 | 0.73 | 12.31 | 32.06 | 40.99 | 25.03 | -3.55 | 89.78 | -19.43 | 9.49 | 0 | 0.29 | 0 | 21.02 | -9.67 |
| 2017 (4) | 1.84 | 61.4 | 35.24 | 12.37 | 21.29 | 60.08 | 3.29 | -19.73 | 19.18 | 35.45 | 15.87 | 39.95 | 12.74 | 55.37 | 10.36 | 52.35 | 0.65 | 8.33 | 22.74 | 21.15 | 25.95 | 30.01 | 111.43 | 20.0 | -11.43 | 0 | 0.00 | 0 | 23.27 | -14.1 |
| 2016 (3) | 1.14 | -42.13 | 31.36 | 4.81 | 13.30 | -3.06 | 4.10 | 1.13 | 14.16 | -23.99 | 11.34 | -34.68 | 8.20 | -45.44 | 6.80 | -43.38 | 0.60 | -13.04 | 18.77 | -19.65 | 19.96 | -11.21 | 92.86 | 26.62 | 7.14 | -73.21 | 0.00 | 0 | 27.09 | -1.1 |
| 2015 (2) | 1.97 | 23.12 | 29.92 | 8.6 | 13.72 | 10.47 | 4.05 | -20.67 | 18.63 | 23.21 | 17.36 | 42.88 | 15.03 | 29.79 | 12.01 | 31.69 | 0.69 | -6.76 | 23.36 | 12.74 | 22.48 | -24.05 | 73.33 | -10.57 | 26.67 | 48.15 | 0.00 | 0 | 27.39 | 4.78 |
| 2014 (1) | 1.60 | 150.0 | 27.55 | 0 | 12.42 | 0 | 5.11 | -21.81 | 15.12 | 0 | 12.15 | 0 | 11.58 | 0 | 9.12 | 0 | 0.74 | 5.71 | 20.72 | 88.36 | 29.60 | 9.91 | 82.00 | -45.33 | 18.00 | 0 | 0.00 | 0 | 26.14 | -9.96 |
