- 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) | 0.69 | -40.0 | -64.8 | 31.31 | -10.72 | -10.44 | -0.98 | -124.26 | -107.71 | 10.70 | -22.18 | -49.79 | 9.42 | -26.75 | -46.23 | 1.82 | -28.35 | -60.43 | 1.27 | -27.84 | -59.94 | 0.13 | 0.0 | -27.78 | 12.68 | -19.34 | -45.16 | 41.00 | -23.32 | -10.3 | -10.00 | -134.17 | -116.81 | 110.00 | 55.52 | 171.56 | 23.01 | 7.62 | 28.84 |
| 24Q2 (19) | 1.15 | -24.34 | -43.35 | 35.07 | -15.33 | -7.54 | 4.04 | -51.15 | -71.35 | 13.75 | -33.57 | -38.67 | 12.86 | -29.26 | -31.85 | 2.54 | -21.36 | -46.75 | 1.76 | -26.05 | -47.77 | 0.13 | 0.0 | -27.78 | 15.72 | -32.45 | -35.31 | 53.47 | 33.91 | 11.61 | 29.27 | -27.47 | -53.17 | 70.73 | 18.58 | 88.62 | 21.38 | -7.45 | 12.47 |
| 24Q1 (18) | 1.52 | -23.62 | -10.06 | 41.42 | 0.75 | 21.86 | 8.27 | -59.64 | -13.22 | 20.70 | 5.56 | 12.81 | 18.18 | 19.13 | 6.32 | 3.23 | -27.25 | -17.6 | 2.38 | -26.09 | -16.2 | 0.13 | -38.1 | -18.75 | 23.27 | 8.84 | 13.9 | 39.93 | 15.07 | 5.19 | 40.35 | -61.46 | -21.9 | 59.65 | 1367.54 | 23.41 | 23.10 | 60.64 | 12.19 |
| 23Q4 (17) | 1.99 | 1.53 | -14.22 | 41.11 | 17.59 | 24.35 | 20.49 | 61.21 | 35.07 | 19.61 | -7.98 | 6.17 | 15.26 | -12.9 | -2.68 | 4.44 | -3.48 | -21.0 | 3.22 | 1.58 | -18.89 | 0.21 | 16.67 | -16.0 | 21.38 | -7.53 | 6.26 | 34.70 | -24.09 | -14.11 | 104.71 | 75.99 | 27.34 | -4.71 | -111.62 | -126.47 | 14.38 | -19.48 | -0.62 |
| 23Q3 (16) | 1.96 | -3.45 | 21.74 | 34.96 | -7.83 | 32.78 | 12.71 | -9.86 | 150.2 | 21.31 | -4.95 | 15.13 | 17.52 | -7.15 | 10.05 | 4.60 | -3.56 | 10.58 | 3.17 | -5.93 | 13.62 | 0.18 | 0.0 | 5.88 | 23.12 | -4.86 | 12.56 | 45.71 | -4.59 | -1.19 | 59.49 | -4.81 | 116.98 | 40.51 | 8.02 | -44.19 | 17.86 | -6.05 | -3.72 |
| 23Q2 (15) | 2.03 | 20.12 | 111.46 | 37.93 | 11.59 | 31.47 | 14.10 | 47.95 | 130.77 | 22.42 | 22.18 | 107.02 | 18.87 | 10.35 | 113.22 | 4.77 | 21.68 | 94.69 | 3.37 | 18.66 | 109.32 | 0.18 | 12.5 | 0.0 | 24.30 | 18.94 | 88.52 | 47.91 | 26.21 | -14.55 | 62.50 | 20.97 | 10.8 | 37.50 | -22.41 | -13.97 | 19.01 | -7.67 | 0.8 |
| 23Q1 (14) | 1.69 | -27.16 | 21.58 | 33.99 | 2.81 | 19.18 | 9.53 | -37.18 | 22.65 | 18.35 | -0.65 | 50.66 | 17.10 | 9.06 | 72.55 | 3.92 | -30.25 | 11.36 | 2.84 | -28.46 | 25.66 | 0.16 | -36.0 | -27.27 | 20.43 | 1.54 | 42.67 | 37.96 | -6.04 | -27.7 | 51.67 | -37.16 | -20.15 | 48.33 | 171.88 | 36.94 | 20.59 | 42.29 | 13.32 |
| 22Q4 (13) | 2.32 | 44.1 | -5.69 | 33.06 | 25.56 | -2.04 | 15.17 | 198.62 | -5.01 | 18.47 | -0.22 | -6.15 | 15.68 | -1.51 | -10.71 | 5.62 | 35.1 | -25.66 | 3.97 | 42.29 | -14.62 | 0.25 | 47.06 | -3.85 | 20.12 | -2.04 | -7.2 | 40.40 | -12.67 | -37.34 | 82.22 | 199.87 | 0.1 | 17.78 | -75.51 | -6.67 | 14.47 | -21.99 | -3.92 |
| 22Q3 (12) | 1.61 | 67.71 | 192.73 | 26.33 | -8.73 | -4.32 | 5.08 | -16.86 | 10260.0 | 18.51 | 70.91 | 191.96 | 15.92 | 79.89 | 143.05 | 4.16 | 69.8 | 144.71 | 2.79 | 73.29 | 168.27 | 0.17 | -5.56 | 13.33 | 20.54 | 59.35 | 120.62 | 46.26 | -17.5 | -29.9 | 27.42 | -51.39 | 0 | 72.58 | 66.51 | -27.42 | 18.55 | -1.64 | -22.55 |
| 22Q2 (11) | 0.96 | -30.94 | 37.14 | 28.85 | 1.16 | 7.33 | 6.11 | -21.36 | 523.47 | 10.83 | -11.08 | 22.37 | 8.85 | -10.7 | 21.9 | 2.45 | -30.4 | 34.62 | 1.61 | -28.76 | 34.17 | 0.18 | -18.18 | 12.5 | 12.89 | -9.99 | 11.99 | 56.07 | 6.8 | -24.34 | 56.41 | -12.82 | 520.51 | 43.59 | 23.5 | -52.05 | 18.86 | 3.8 | -21.22 |
| 22Q1 (10) | 1.39 | -43.5 | 120.63 | 28.52 | -15.5 | -6.18 | 7.77 | -51.35 | 484.21 | 12.18 | -38.11 | 88.25 | 9.91 | -43.56 | 62.46 | 3.52 | -53.44 | 124.2 | 2.26 | -51.4 | 91.53 | 0.22 | -15.38 | 15.79 | 14.32 | -33.95 | 62.91 | 52.50 | -18.58 | 49.83 | 64.71 | -21.23 | 191.18 | 35.29 | 85.29 | -54.62 | 18.17 | 20.65 | -18.85 |
| 21Q4 (9) | 2.46 | 347.27 | -1.6 | 33.75 | 22.64 | -6.15 | 15.97 | 32040.0 | -11.18 | 19.68 | 210.41 | 0.2 | 17.56 | 168.09 | 10.72 | 7.56 | 344.71 | 11.83 | 4.65 | 347.12 | -9.18 | 0.26 | 73.33 | -18.75 | 21.68 | 132.87 | 1.17 | 64.48 | -2.29 | 99.44 | 82.14 | 0 | -10.49 | 19.05 | -80.95 | 131.29 | 15.06 | -37.12 | 3.72 |
| 21Q3 (8) | 0.55 | -21.43 | -59.85 | 27.52 | 2.38 | -16.33 | -0.05 | -105.1 | -100.55 | 6.34 | -28.36 | -56.61 | 6.55 | -9.78 | -49.15 | 1.70 | -6.59 | -56.63 | 1.04 | -13.33 | -62.59 | 0.15 | -6.25 | -31.82 | 9.31 | -19.11 | -45.43 | 65.99 | -10.96 | 105.7 | 0.00 | -100.0 | -100.0 | 100.00 | 10.0 | 168.75 | 23.95 | 0.04 | 18.45 |
| 21Q2 (7) | 0.70 | 11.11 | -73.28 | 26.88 | -11.58 | -23.68 | 0.98 | -26.32 | -93.61 | 8.85 | 36.79 | -54.87 | 7.26 | 19.02 | -53.1 | 1.82 | 15.92 | -68.57 | 1.20 | 1.69 | -71.01 | 0.16 | -15.79 | -40.74 | 11.51 | 30.94 | -47.2 | 74.11 | 111.5 | 47.69 | 9.09 | -59.09 | -88.31 | 90.91 | 16.88 | 309.09 | 23.94 | 6.92 | 0 |
| 21Q1 (6) | 0.63 | -74.8 | 384.62 | 30.40 | -15.46 | -6.4 | 1.33 | -92.6 | 704.55 | 6.47 | -67.06 | 567.01 | 6.10 | -61.54 | 1009.09 | 1.57 | -76.78 | 1021.43 | 1.18 | -76.95 | 972.73 | 0.19 | -40.62 | 0.0 | 8.79 | -58.98 | 121.41 | 35.04 | 8.38 | 14.81 | 22.22 | -75.78 | 144.44 | 77.78 | 844.44 | -48.15 | 22.39 | 54.2 | -1.45 |
| 20Q4 (5) | 2.50 | 82.48 | 11.61 | 35.96 | 9.33 | 5.21 | 17.98 | 96.93 | 30.67 | 19.64 | 34.43 | 21.61 | 15.86 | 23.14 | 18.54 | 6.76 | 72.45 | 39.38 | 5.12 | 84.17 | 44.23 | 0.32 | 45.45 | 23.08 | 21.43 | 25.62 | 18.99 | 32.33 | 0.78 | -8.1 | 91.76 | 46.14 | 6.45 | 8.24 | -77.87 | -46.93 | 14.52 | -28.19 | -4.91 |
| 20Q3 (4) | 1.37 | -47.71 | 0.0 | 32.89 | -6.62 | 0.0 | 9.13 | -40.48 | 0.0 | 14.61 | -25.5 | 0.0 | 12.88 | -16.8 | 0.0 | 3.92 | -32.3 | 0.0 | 2.78 | -32.85 | 0.0 | 0.22 | -18.52 | 0.0 | 17.06 | -21.74 | 0.0 | 32.08 | -36.07 | 0.0 | 62.79 | -19.27 | 0.0 | 37.21 | 67.44 | 0.0 | 20.22 | 0 | 0.0 |
| 20Q2 (3) | 2.62 | 1915.38 | 0.0 | 35.22 | 8.44 | 0.0 | 15.34 | 7072.73 | 0.0 | 19.61 | 1921.65 | 0.0 | 15.48 | 2714.55 | 0.0 | 5.79 | 4035.71 | 0.0 | 4.14 | 3663.64 | 0.0 | 0.27 | 42.11 | 0.0 | 21.80 | 449.12 | 0.0 | 50.18 | 64.42 | 0.0 | 77.78 | 255.56 | 0.0 | 22.22 | -85.19 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.13 | -94.2 | 0.0 | 32.48 | -4.97 | 0.0 | -0.22 | -101.6 | 0.0 | 0.97 | -93.99 | 0.0 | 0.55 | -95.89 | 0.0 | 0.14 | -97.11 | 0.0 | 0.11 | -96.9 | 0.0 | 0.19 | -26.92 | 0.0 | 3.97 | -77.96 | 0.0 | 30.52 | -13.25 | 0.0 | -50.00 | -158.0 | 0.0 | 150.00 | 866.67 | 0.0 | 22.72 | 48.79 | 0.0 |
| 19Q4 (1) | 2.24 | 0.0 | 0.0 | 34.18 | 0.0 | 0.0 | 13.76 | 0.0 | 0.0 | 16.15 | 0.0 | 0.0 | 13.38 | 0.0 | 0.0 | 4.85 | 0.0 | 0.0 | 3.55 | 0.0 | 0.0 | 0.26 | 0.0 | 0.0 | 18.01 | 0.0 | 0.0 | 35.18 | 0.0 | 0.0 | 86.21 | 0.0 | 0.0 | 15.52 | 0.0 | 0.0 | 15.27 | 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) | 7.65 | 22.6 | 37.25 | 26.23 | 14.61 | 60.73 | 1.47 | -5.69 | 20.43 | 35.12 | 17.09 | 34.67 | 17.47 | 4.74 | 12.86 | 14.51 | 0.74 | -14.94 | 22.30 | 31.18 | 34.70 | -14.11 | 71.48 | 19.29 | 28.52 | -28.84 | 0.20 | -35.97 | 17.72 | 2.55 |
| 2022 (9) | 6.24 | 47.87 | 29.51 | -2.51 | 9.09 | 46.61 | 1.56 | -24.87 | 15.12 | 29.67 | 12.69 | 20.51 | 16.68 | 37.62 | 11.23 | 35.14 | 0.87 | 11.54 | 17.00 | 20.23 | 40.40 | -37.34 | 59.92 | 11.85 | 40.08 | -14.98 | 0.31 | 3.83 | 17.28 | -15.38 |
| 2021 (8) | 4.22 | -30.48 | 30.27 | -12.11 | 6.20 | -47.99 | 2.08 | -3.39 | 11.66 | -22.47 | 10.53 | -13.97 | 12.12 | -23.82 | 8.31 | -30.34 | 0.78 | -19.59 | 14.14 | -18.27 | 64.48 | 99.44 | 53.57 | -32.45 | 47.14 | 127.86 | 0.29 | -18.16 | 20.42 | 12.38 |
| 2020 (7) | 6.07 | -44.21 | 34.44 | -5.88 | 11.92 | -25.31 | 2.15 | 18.25 | 15.04 | -23.07 | 12.24 | -22.92 | 15.91 | -34.34 | 11.93 | -34.84 | 0.97 | -15.65 | 17.30 | -19.57 | 32.33 | -8.1 | 79.31 | -2.95 | 20.69 | 13.21 | 0.36 | 394.97 | 18.17 | 20.89 |
| 2019 (6) | 10.88 | 11.7 | 36.59 | 12.2 | 15.96 | 25.18 | 1.82 | 99.57 | 19.55 | 22.19 | 15.88 | 18.24 | 24.23 | 13.6 | 18.31 | 11.51 | 1.15 | -5.74 | 21.51 | 26.68 | 35.18 | 15.57 | 81.72 | 2.38 | 18.28 | -9.42 | 0.07 | -12.62 | 15.03 | 1.35 |
| 2018 (5) | 9.74 | 68.22 | 32.61 | -2.8 | 12.75 | 3.16 | 0.91 | 7.48 | 16.00 | 44.93 | 13.43 | 50.22 | 21.33 | 61.59 | 16.42 | 64.04 | 1.22 | 8.93 | 16.98 | 42.93 | 30.44 | 2.8 | 79.82 | -28.66 | 20.18 | 0 | 0.08 | 0 | 14.83 | -5.84 |
| 2017 (4) | 5.79 | -44.06 | 33.55 | -22.91 | 12.36 | -33.76 | 0.85 | -13.04 | 11.04 | -37.98 | 8.94 | -38.56 | 13.20 | -51.58 | 10.01 | -48.59 | 1.12 | -16.42 | 11.88 | -36.84 | 29.61 | -13.4 | 111.89 | 7.09 | -11.89 | 0 | 0.00 | 0 | 15.75 | -5.52 |
| 2016 (3) | 10.35 | 24.4 | 43.52 | 21.12 | 18.66 | 22.52 | 0.98 | -16.86 | 17.80 | 10.29 | 14.55 | 14.21 | 27.26 | -36.77 | 19.47 | -28.58 | 1.34 | -37.38 | 18.81 | 8.79 | 34.19 | -39.42 | 104.48 | 10.32 | -4.98 | 0 | 0.00 | 0 | 16.67 | 6.38 |
| 2015 (2) | 8.32 | 28.59 | 35.93 | 13.09 | 15.23 | 27.13 | 1.17 | -16.65 | 16.14 | 21.44 | 12.74 | 17.96 | 43.11 | 0.4 | 27.26 | 7.37 | 2.14 | -8.94 | 17.29 | 18.42 | 56.44 | -6.76 | 94.70 | 4.78 | 5.30 | -44.9 | 0.00 | 0 | 15.67 | 11.61 |
| 2014 (1) | 6.47 | 90.29 | 31.77 | 0 | 11.98 | 0 | 1.41 | 16.2 | 13.29 | 0 | 10.80 | 0 | 42.94 | 0 | 25.39 | 0 | 2.35 | -2.89 | 14.60 | 52.88 | 60.53 | -26.47 | 90.38 | -6.2 | 9.62 | 76.28 | 0.00 | 0 | 14.04 | 13.5 |
