- 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) | 1.46 | -60.65 | -58.17 | 40.81 | -13.11 | -11.42 | 17.85 | -32.1 | -29.92 | 14.08 | -49.64 | -51.21 | 9.53 | -51.92 | -54.45 | 2.70 | -62.76 | -62.86 | 1.62 | -60.96 | -67.01 | 0.17 | -19.05 | -26.09 | 21.29 | -36.58 | -37.82 | 62.37 | -21.62 | 28.81 | 125.93 | 34.18 | 43.46 | -27.16 | -541.36 | -332.8 | 20.27 | 13.56 | 16.23 |
| 24Q2 (19) | 3.71 | 25.76 | 103.85 | 46.97 | -2.53 | 16.18 | 26.29 | 0.0 | 42.96 | 27.96 | -6.27 | 40.43 | 19.82 | -3.41 | 41.98 | 7.25 | 25.22 | 80.35 | 4.15 | 13.7 | 54.85 | 0.21 | 16.67 | 10.53 | 33.57 | -7.72 | 27.74 | 79.57 | 8.82 | 60.52 | 93.85 | 6.49 | 2.28 | 6.15 | -48.18 | -14.73 | 17.85 | -13.31 | -12.67 |
| 24Q1 (18) | 2.95 | 5.36 | 195.0 | 48.19 | 4.49 | 31.06 | 26.29 | -1.09 | 126.44 | 29.83 | 36.21 | 158.72 | 20.52 | 23.76 | 129.79 | 5.79 | 6.24 | 166.82 | 3.65 | -1.88 | 144.97 | 0.18 | -18.18 | 12.5 | 36.38 | 32.48 | 93.51 | 73.12 | 56.27 | 36.52 | 88.12 | -27.18 | -11.88 | 11.88 | 156.51 | 0 | 20.59 | 10.58 | -6.28 |
| 23Q4 (17) | 2.80 | -19.77 | 218.18 | 46.12 | 0.11 | 26.01 | 26.58 | 4.36 | 128.15 | 21.90 | -24.12 | 149.71 | 16.58 | -20.75 | 89.05 | 5.45 | -25.03 | 191.44 | 3.72 | -24.24 | 183.97 | 0.22 | -4.35 | 57.14 | 27.46 | -19.8 | 62.1 | 46.79 | -3.37 | 1.56 | 121.01 | 37.86 | -7.13 | -21.01 | -280.12 | 36.96 | 18.62 | 6.77 | -18.33 |
| 23Q3 (16) | 3.49 | 91.76 | 164.39 | 46.07 | 13.95 | 18.13 | 25.47 | 38.5 | 97.29 | 28.86 | 44.95 | 74.28 | 20.92 | 49.86 | 64.85 | 7.27 | 80.85 | 151.56 | 4.91 | 83.21 | 157.07 | 0.23 | 21.05 | 53.33 | 34.24 | 30.29 | 41.72 | 48.42 | -2.32 | -2.85 | 87.78 | -4.33 | 12.36 | 11.67 | 61.67 | -46.67 | 17.44 | -14.68 | -22.28 |
| 23Q2 (15) | 1.82 | 82.0 | 68.52 | 40.43 | 9.95 | 7.18 | 18.39 | 58.4 | 42.78 | 19.91 | 72.68 | 21.03 | 13.96 | 56.33 | 31.45 | 4.02 | 85.25 | 66.12 | 2.68 | 79.87 | 74.03 | 0.19 | 18.75 | 35.71 | 26.28 | 39.79 | 9.45 | 49.57 | -7.45 | -16.48 | 91.75 | -8.25 | 16.1 | 7.22 | 0 | -68.04 | 20.44 | -6.96 | -8.55 |
| 23Q1 (14) | 1.00 | 13.64 | -22.48 | 36.77 | 0.46 | -3.84 | 11.61 | -0.34 | 1.57 | 11.53 | 31.47 | -38.93 | 8.93 | 1.82 | -35.62 | 2.17 | 16.04 | -25.17 | 1.49 | 13.74 | -23.2 | 0.16 | 14.29 | 14.29 | 18.80 | 10.98 | -30.6 | 53.56 | 16.26 | -13.75 | 100.00 | -23.26 | 65.0 | 0.00 | 100.0 | -100.0 | 21.97 | -3.64 | -4.85 |
| 22Q4 (13) | 0.88 | -33.33 | -7.37 | 36.60 | -6.15 | -3.61 | 11.65 | -9.76 | 11.16 | 8.77 | -47.04 | -29.1 | 8.77 | -30.89 | -20.49 | 1.87 | -35.29 | -12.62 | 1.31 | -31.41 | -14.38 | 0.14 | -6.67 | 0.0 | 16.94 | -29.88 | -20.28 | 46.07 | -7.56 | 8.09 | 130.30 | 66.79 | 53.3 | -33.33 | -252.38 | -322.22 | 22.80 | 1.6 | 0.84 |
| 22Q3 (12) | 1.32 | 22.22 | 46.67 | 39.00 | 3.39 | -6.79 | 12.91 | 0.23 | -20.7 | 16.56 | 0.67 | 0.55 | 12.69 | 19.49 | 27.54 | 2.89 | 19.42 | 38.28 | 1.91 | 24.03 | 34.51 | 0.15 | 7.14 | 7.14 | 24.16 | 0.62 | -2.78 | 49.84 | -16.02 | 15.61 | 78.12 | -1.15 | -20.45 | 21.88 | -3.12 | 1125.0 | 22.44 | 0.4 | 0.94 |
| 22Q2 (11) | 1.08 | -16.28 | 40.26 | 37.72 | -1.36 | -2.2 | 12.88 | 12.69 | -7.87 | 16.45 | -12.87 | 19.2 | 10.62 | -23.43 | 12.74 | 2.42 | -16.55 | 34.44 | 1.54 | -20.62 | 35.09 | 0.14 | 0.0 | 16.67 | 24.01 | -11.37 | 8.59 | 59.35 | -4.43 | -1.4 | 79.03 | 30.4 | -20.97 | 22.58 | -42.68 | 1048.39 | 22.35 | -3.2 | -4.73 |
| 22Q1 (10) | 1.29 | 35.79 | -15.13 | 38.24 | 0.71 | -13.72 | 11.43 | 9.06 | -42.51 | 18.88 | 52.63 | -12.1 | 13.87 | 25.75 | -11.49 | 2.90 | 35.51 | -13.69 | 1.94 | 26.8 | -14.54 | 0.14 | 0.0 | 0.0 | 27.09 | 27.48 | -6.88 | 62.10 | 45.71 | 0.53 | 60.61 | -28.7 | -35.19 | 39.39 | 162.63 | 405.56 | 23.09 | 2.12 | -1.74 |
| 21Q4 (9) | 0.95 | 5.56 | -52.02 | 37.97 | -9.25 | -19.96 | 10.48 | -35.63 | -58.58 | 12.37 | -24.89 | -44.23 | 11.03 | 10.85 | -38.21 | 2.14 | 2.39 | -49.53 | 1.53 | 7.75 | -49.34 | 0.14 | 0.0 | -17.65 | 21.25 | -14.49 | -27.47 | 42.62 | -1.14 | 12.01 | 85.00 | -13.45 | -24.81 | 15.00 | 740.0 | 206.15 | 22.61 | 1.71 | 17.09 |
| 21Q3 (8) | 0.90 | 16.88 | -73.05 | 41.84 | 8.48 | -17.98 | 16.28 | 16.45 | -51.36 | 16.47 | 19.35 | -50.0 | 9.95 | 5.63 | -57.35 | 2.09 | 16.11 | -72.75 | 1.42 | 24.56 | -73.31 | 0.14 | 16.67 | -39.13 | 24.85 | 12.39 | -36.02 | 43.11 | -28.38 | -2.8 | 98.21 | -1.79 | -2.89 | 1.79 | 175.0 | 204.76 | 22.23 | -5.24 | 33.59 |
| 21Q2 (7) | 0.77 | -49.34 | -75.94 | 38.57 | -12.97 | -21.99 | 13.98 | -29.68 | -55.66 | 13.80 | -35.75 | -53.83 | 9.42 | -39.89 | -53.8 | 1.80 | -46.43 | -72.14 | 1.14 | -49.78 | -73.85 | 0.12 | -14.29 | -42.86 | 22.11 | -23.99 | -41.41 | 60.19 | -2.56 | 26.16 | 100.00 | 6.94 | -4.67 | -2.38 | -130.56 | 57.44 | 23.46 | -0.17 | 25.19 |
| 21Q1 (6) | 1.52 | -23.23 | -65.61 | 44.32 | -6.58 | -17.51 | 19.88 | -21.42 | -46.94 | 21.48 | -3.16 | -40.58 | 15.67 | -12.21 | -39.68 | 3.36 | -20.75 | -63.91 | 2.27 | -24.83 | -64.48 | 0.14 | -17.65 | -41.67 | 29.09 | -0.72 | -33.58 | 61.77 | 62.34 | 19.57 | 93.51 | -17.28 | -9.88 | 7.79 | 155.14 | 307.05 | 23.50 | 21.7 | 36.63 |
| 20Q4 (5) | 1.98 | -40.72 | -47.89 | 47.44 | -7.0 | -8.24 | 25.30 | -24.41 | -19.5 | 22.18 | -32.67 | -25.22 | 17.85 | -23.49 | -19.63 | 4.24 | -44.72 | -49.7 | 3.02 | -43.23 | -49.24 | 0.17 | -26.09 | -34.62 | 29.30 | -24.56 | -20.38 | 38.05 | -14.21 | -16.12 | 113.04 | 11.77 | 6.8 | -14.13 | -728.99 | -141.79 | 19.31 | 16.05 | -0.26 |
| 20Q3 (4) | 3.34 | 4.37 | 0.0 | 51.01 | 3.18 | 0.0 | 33.47 | 6.15 | 0.0 | 32.94 | 10.2 | 0.0 | 23.33 | 14.42 | 0.0 | 7.67 | 18.73 | 0.0 | 5.32 | 22.02 | 0.0 | 0.23 | 9.52 | 0.0 | 38.84 | 2.91 | 0.0 | 44.35 | -7.04 | 0.0 | 101.14 | -3.58 | 0.0 | -1.70 | 69.53 | 0.0 | 16.64 | -11.21 | 0.0 |
| 20Q2 (3) | 3.20 | -27.6 | 0.0 | 49.44 | -7.98 | 0.0 | 31.53 | -15.85 | 0.0 | 29.89 | -17.32 | 0.0 | 20.39 | -21.52 | 0.0 | 6.46 | -30.61 | 0.0 | 4.36 | -31.77 | 0.0 | 0.21 | -12.5 | 0.0 | 37.74 | -13.84 | 0.0 | 47.71 | -7.65 | 0.0 | 104.90 | 1.09 | 0.0 | -5.59 | -48.65 | 0.0 | 18.74 | 8.95 | 0.0 |
| 20Q1 (2) | 4.42 | 16.32 | 0.0 | 53.73 | 3.93 | 0.0 | 37.47 | 19.22 | 0.0 | 36.15 | 21.88 | 0.0 | 25.98 | 16.97 | 0.0 | 9.31 | 10.44 | 0.0 | 6.39 | 7.39 | 0.0 | 0.24 | -7.69 | 0.0 | 43.80 | 19.02 | 0.0 | 51.66 | 13.89 | 0.0 | 103.76 | -1.97 | 0.0 | -3.76 | 35.6 | 0.0 | 17.20 | -11.16 | 0.0 |
| 19Q4 (1) | 3.80 | 0.0 | 0.0 | 51.70 | 0.0 | 0.0 | 31.43 | 0.0 | 0.0 | 29.66 | 0.0 | 0.0 | 22.21 | 0.0 | 0.0 | 8.43 | 0.0 | 0.0 | 5.95 | 0.0 | 0.0 | 0.26 | 0.0 | 0.0 | 36.80 | 0.0 | 0.0 | 45.36 | 0.0 | 0.0 | 105.84 | 0.0 | 0.0 | -5.84 | 0.0 | 0.0 | 19.36 | 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) | 9.11 | 99.34 | 43.02 | 13.51 | 21.52 | 75.82 | 5.67 | -23.35 | 21.46 | 41.84 | 15.77 | 37.73 | 18.30 | 83.37 | 12.62 | 78.75 | 0.79 | 31.67 | 27.45 | 19.09 | 46.79 | 1.56 | 100.22 | 23.89 | -0.22 | 0 | 0.14 | -11.48 | 19.34 | -14.65 |
| 2022 (9) | 4.57 | 10.65 | 37.90 | -7.18 | 12.24 | -20.16 | 7.39 | -6.03 | 15.13 | -6.78 | 11.45 | -1.72 | 9.98 | 12.01 | 7.06 | 9.12 | 0.60 | 9.09 | 23.05 | -6.22 | 46.07 | 8.09 | 80.89 | -14.33 | 19.11 | 242.41 | 0.16 | -6.7 | 22.66 | -1.26 |
| 2021 (8) | 4.13 | -64.15 | 40.83 | -19.29 | 15.33 | -52.57 | 7.87 | 19.11 | 16.23 | -47.22 | 11.65 | -47.38 | 8.91 | -66.77 | 6.47 | -66.35 | 0.55 | -36.05 | 24.58 | -35.09 | 42.62 | 12.01 | 94.42 | -10.11 | 5.58 | 0 | 0.17 | 3.53 | 22.95 | 28.36 |
| 2020 (7) | 11.52 | 22.68 | 50.59 | 7.48 | 32.32 | 26.89 | 6.60 | -28.77 | 30.75 | 23.2 | 22.14 | 16.71 | 26.81 | 23.04 | 19.23 | 22.72 | 0.86 | 6.17 | 37.87 | 8.76 | 38.05 | -16.12 | 105.03 | 2.83 | -5.03 | 0 | 0.16 | -16.47 | 17.88 | -18.02 |
| 2019 (6) | 9.39 | 13314.29 | 47.07 | 44.12 | 25.47 | 910.71 | 9.27 | -21.36 | 24.96 | 856.32 | 18.97 | 8147.83 | 21.79 | 12717.65 | 15.67 | 5703.7 | 0.81 | 52.83 | 34.82 | 130.9 | 45.36 | 23.83 | 102.14 | 6.78 | -2.14 | 0 | 0.19 | -20.74 | 21.81 | -28.61 |
| 2018 (5) | 0.07 | 0 | 32.66 | -0.55 | 2.52 | 0 | 11.79 | 13.86 | 2.61 | 0 | 0.23 | 0 | 0.17 | 0 | 0.27 | 0 | 0.53 | 1.92 | 15.08 | 65.17 | 36.63 | -1.48 | 95.65 | 1526.09 | 4.35 | -95.38 | 0.25 | 0 | 30.55 | -8.56 |
| 2017 (4) | -0.91 | 0 | 32.84 | -25.23 | -0.13 | 0 | 10.36 | 49.87 | -1.90 | 0 | -3.06 | 0 | -2.10 | 0 | -1.47 | 0 | 0.52 | -26.76 | 9.13 | -57.89 | 37.18 | 49.32 | 5.88 | -94.66 | 94.12 | 0 | 0.00 | 0 | 33.41 | 12.72 |
| 2016 (3) | 4.60 | -44.98 | 43.92 | -3.83 | 15.52 | -28.97 | 6.91 | 51.59 | 14.07 | -34.89 | 10.37 | -37.61 | 10.02 | -50.45 | 7.62 | -44.78 | 0.71 | -11.25 | 21.68 | -19.67 | 24.90 | -49.8 | 110.17 | 8.73 | -10.17 | 0 | 0.00 | 0 | 29.64 | 3.24 |
| 2015 (2) | 8.36 | 9.0 | 45.67 | -1.4 | 21.85 | 4.35 | 4.56 | 8.62 | 21.61 | 0.84 | 16.62 | 7.3 | 20.22 | -9.37 | 13.80 | -1.92 | 0.80 | -8.05 | 26.99 | 1.09 | 49.60 | -6.57 | 101.32 | 3.77 | -0.99 | 0 | 0.00 | 0 | 28.71 | 0.95 |
| 2014 (1) | 7.67 | -9.34 | 46.32 | 0 | 20.94 | 0 | 4.20 | 0.49 | 21.43 | 0 | 15.49 | 0 | 22.31 | 0 | 14.07 | 0 | 0.87 | -16.35 | 26.70 | -5.42 | 53.09 | -35.98 | 97.64 | 0.31 | 2.36 | -11.32 | 0.00 | 0 | 28.44 | 13.62 |
