- 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) | 0.43 | 59.26 | -52.22 | 42.19 | 19.35 | 9.78 | 11.92 | 20.53 | 7.19 | 10.27 | -6.97 | -22.72 | 7.55 | 84.6 | -48.57 | 1.97 | 58.87 | -50.5 | 1.28 | 56.1 | -50.39 | 0.15 | -16.67 | -11.76 | 15.64 | 1.89 | -13.78 | 68.78 | -1.66 | 44.98 | 113.64 | 27.84 | 36.36 | -18.18 | -263.64 | -209.09 | 28.32 | 18.35 | 7.84 |
| 24Q2 (19) | 0.27 | -49.06 | -75.45 | 35.35 | 3.73 | -9.36 | 9.89 | 6.23 | -37.6 | 11.04 | 1.56 | -39.77 | 4.09 | -52.88 | -72.36 | 1.24 | -48.12 | -75.92 | 0.82 | -50.0 | -73.03 | 0.18 | 0.0 | -10.0 | 15.35 | -6.23 | -30.79 | 69.94 | 12.5 | -1.34 | 88.89 | 5.82 | 1.01 | 11.11 | -30.56 | -20.63 | 23.93 | -2.17 | 9.47 |
| 24Q1 (18) | 0.53 | 231.25 | -31.17 | 34.08 | -1.87 | -12.95 | 9.31 | 113.04 | -41.3 | 10.87 | 223.51 | -26.15 | 8.68 | 217.95 | -28.62 | 2.39 | 256.72 | -30.12 | 1.64 | 203.7 | -23.0 | 0.18 | 5.88 | 5.88 | 16.37 | 81.89 | -14.07 | 62.17 | 38.06 | -17.99 | 84.00 | -34.67 | -22.81 | 16.00 | 156.0 | 281.33 | 24.46 | -9.27 | 5.02 |
| 23Q4 (17) | 0.16 | -82.22 | -86.32 | 34.73 | -9.63 | -8.92 | 4.37 | -60.7 | -74.17 | 3.36 | -74.72 | -77.95 | 2.73 | -81.4 | -78.38 | 0.67 | -83.17 | -85.11 | 0.54 | -79.07 | -80.65 | 0.17 | 0.0 | -22.73 | 9.00 | -50.39 | -51.56 | 45.03 | -5.08 | -21.73 | 128.57 | 54.29 | 15.71 | -28.57 | -271.43 | -157.14 | 26.96 | 2.67 | 31.51 |
| 23Q3 (16) | 0.90 | -18.18 | -62.5 | 38.43 | -1.46 | -4.16 | 11.12 | -29.84 | -48.21 | 13.29 | -27.5 | -47.45 | 14.68 | -0.81 | -32.23 | 3.98 | -22.72 | -65.9 | 2.58 | -15.13 | -55.52 | 0.17 | -15.0 | -34.62 | 18.14 | -18.21 | -34.7 | 47.44 | -33.08 | -36.08 | 83.33 | -5.3 | -1.52 | 16.67 | 19.05 | 8.33 | 26.26 | 20.13 | 36.77 |
| 23Q2 (15) | 1.10 | 42.86 | 5.77 | 39.00 | -0.38 | 5.15 | 15.85 | -0.06 | 14.94 | 18.33 | 24.52 | 15.72 | 14.80 | 21.71 | 19.84 | 5.15 | 50.58 | -7.04 | 3.04 | 42.72 | 18.29 | 0.20 | 17.65 | 0.0 | 22.18 | 16.43 | 14.51 | 70.89 | -6.49 | -51.92 | 88.00 | -19.14 | 0.57 | 14.00 | 258.67 | 12.0 | 21.86 | -6.14 | -6.38 |
| 23Q1 (14) | 0.77 | -34.19 | -7.23 | 39.15 | 2.68 | 20.8 | 15.86 | -6.26 | 40.11 | 14.72 | -3.41 | 7.92 | 12.16 | -3.72 | 10.75 | 3.42 | -24.0 | -21.2 | 2.13 | -23.66 | -4.91 | 0.17 | -22.73 | -15.0 | 19.05 | 2.53 | 11.34 | 75.81 | 31.77 | -23.89 | 108.82 | -2.06 | 29.75 | -8.82 | 20.59 | -154.71 | 23.29 | 13.61 | 11.81 |
| 22Q4 (13) | 1.17 | -51.25 | 1.74 | 38.13 | -4.91 | 10.91 | 16.92 | -21.19 | 15.1 | 15.24 | -39.74 | -1.1 | 12.63 | -41.69 | -4.25 | 4.50 | -61.44 | -29.25 | 2.79 | -51.9 | -11.99 | 0.22 | -15.38 | -4.35 | 18.58 | -33.12 | -1.01 | 57.53 | -22.49 | -43.09 | 111.11 | 31.31 | 16.96 | -11.11 | -172.22 | -322.22 | 20.50 | 6.77 | 4.7 |
| 22Q3 (12) | 2.40 | 130.77 | 114.29 | 40.10 | 8.12 | 14.38 | 21.47 | 55.69 | 30.04 | 25.29 | 59.66 | 50.81 | 21.66 | 75.38 | 54.94 | 11.67 | 110.65 | 81.49 | 5.80 | 125.68 | 84.13 | 0.26 | 30.0 | 18.18 | 27.78 | 43.42 | 36.04 | 74.22 | -49.66 | -32.77 | 84.62 | -3.3 | -15.38 | 15.38 | 23.08 | 515.38 | 19.20 | -17.77 | -0.05 |
| 22Q2 (11) | 1.04 | 25.3 | 30.0 | 37.09 | 14.44 | 9.9 | 13.79 | 21.82 | -0.65 | 15.84 | 16.13 | 17.77 | 12.35 | 12.48 | 11.36 | 5.54 | 27.65 | 17.87 | 2.57 | 14.73 | 11.74 | 0.20 | 0.0 | 0.0 | 19.37 | 13.21 | 13.08 | 147.43 | 48.02 | 36.38 | 87.50 | 4.33 | -15.42 | 12.50 | -22.5 | 462.5 | 23.35 | 12.1 | 17.57 |
| 22Q1 (10) | 0.83 | -27.83 | 59.62 | 32.41 | -5.73 | -3.05 | 11.32 | -22.99 | 32.86 | 13.64 | -11.49 | 18.51 | 10.98 | -16.76 | 9.15 | 4.34 | -31.76 | 35.62 | 2.24 | -29.34 | 41.77 | 0.20 | -13.04 | 33.33 | 17.11 | -8.84 | 2.64 | 99.60 | -1.47 | -13.81 | 83.87 | -11.71 | 16.13 | 16.13 | 222.58 | -41.94 | 20.83 | 6.38 | -17.86 |
| 21Q4 (9) | 1.15 | 2.68 | 3733.33 | 34.38 | -1.94 | 14.75 | 14.70 | -10.96 | 197.57 | 15.41 | -8.11 | 775.88 | 13.19 | -5.65 | 2486.27 | 6.36 | -1.09 | 3875.0 | 3.17 | 0.63 | 1568.42 | 0.23 | 4.55 | 35.29 | 18.77 | -8.08 | 484.74 | 101.09 | -8.43 | -12.4 | 95.00 | -5.0 | 147.5 | 5.00 | 100.0 | -98.18 | 19.58 | 1.93 | -19.42 |
| 21Q3 (8) | 1.12 | 40.0 | 409.09 | 35.06 | 3.88 | 3.18 | 16.51 | 18.95 | 144.59 | 16.77 | 24.68 | 259.87 | 13.98 | 26.06 | 225.87 | 6.43 | 36.81 | 365.94 | 3.15 | 36.96 | 250.0 | 0.22 | 10.0 | 10.0 | 20.42 | 19.21 | 109.65 | 110.40 | 2.13 | 85.14 | 100.00 | -3.33 | -30.0 | 2.50 | 172.5 | 105.83 | 19.21 | -3.27 | -24.96 |
| 21Q2 (7) | 0.80 | 53.85 | 37.93 | 33.75 | 0.96 | -6.09 | 13.88 | 62.91 | 56.48 | 13.45 | 16.85 | -3.79 | 11.09 | 10.24 | -4.89 | 4.70 | 46.88 | 29.48 | 2.30 | 45.57 | -3.36 | 0.20 | 33.33 | 0.0 | 17.13 | 2.76 | -10.83 | 108.10 | -6.46 | 71.91 | 103.45 | 43.24 | 67.11 | -3.45 | -112.41 | -109.05 | 19.86 | -21.69 | 0 |
| 21Q1 (6) | 0.52 | 1633.33 | 52.94 | 33.43 | 11.58 | -5.38 | 8.52 | 72.47 | 19.66 | 11.51 | 604.82 | 45.51 | 10.06 | 1872.55 | 59.43 | 3.20 | 1900.0 | 68.42 | 1.58 | 731.58 | 18.8 | 0.15 | -11.76 | -25.0 | 16.67 | 419.31 | 23.39 | 115.56 | 0.14 | 126.59 | 72.22 | 136.11 | -21.21 | 27.78 | -89.9 | 233.33 | 25.36 | 4.36 | -6.73 |
| 20Q4 (5) | 0.03 | -86.36 | -96.0 | 29.96 | -11.83 | -24.08 | 4.94 | -26.81 | -56.01 | -2.28 | -148.93 | -121.51 | 0.51 | -88.11 | -95.14 | 0.16 | -88.41 | -96.25 | 0.19 | -78.89 | -93.26 | 0.17 | -15.0 | -34.62 | 3.21 | -67.04 | -77.75 | 115.40 | 93.53 | 129.42 | -200.00 | -240.0 | -290.91 | 275.00 | 741.67 | 5875.0 | 24.30 | -5.08 | 8.19 |
| 20Q3 (4) | 0.22 | -62.07 | 0.0 | 33.98 | -5.45 | 0.0 | 6.75 | -23.9 | 0.0 | 4.66 | -66.67 | 0.0 | 4.29 | -63.21 | 0.0 | 1.38 | -61.98 | 0.0 | 0.90 | -62.18 | 0.0 | 0.20 | 0.0 | 0.0 | 9.74 | -49.3 | 0.0 | 59.63 | -5.17 | 0.0 | 142.86 | 130.77 | 0.0 | -42.86 | -212.5 | 0.0 | 25.60 | 0 | 0.0 |
| 20Q2 (3) | 0.58 | 70.59 | 0.0 | 35.94 | 1.73 | 0.0 | 8.87 | 24.58 | 0.0 | 13.98 | 76.74 | 0.0 | 11.66 | 84.79 | 0.0 | 3.63 | 91.05 | 0.0 | 2.38 | 78.95 | 0.0 | 0.20 | 0.0 | 0.0 | 19.21 | 42.19 | 0.0 | 62.88 | 23.29 | 0.0 | 61.90 | -32.47 | 0.0 | 38.10 | 357.14 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.34 | -54.67 | 0.0 | 35.33 | -10.47 | 0.0 | 7.12 | -36.6 | 0.0 | 7.91 | -25.38 | 0.0 | 6.31 | -39.9 | 0.0 | 1.90 | -55.5 | 0.0 | 1.33 | -52.84 | 0.0 | 0.20 | -23.08 | 0.0 | 13.51 | -6.38 | 0.0 | 51.00 | 1.39 | 0.0 | 91.67 | -12.5 | 0.0 | 8.33 | 275.0 | 0.0 | 27.19 | 21.06 | 0.0 |
| 19Q4 (1) | 0.75 | 0.0 | 0.0 | 39.46 | 0.0 | 0.0 | 11.23 | 0.0 | 0.0 | 10.60 | 0.0 | 0.0 | 10.50 | 0.0 | 0.0 | 4.27 | 0.0 | 0.0 | 2.82 | 0.0 | 0.0 | 0.26 | 0.0 | 0.0 | 14.43 | 0.0 | 0.0 | 50.30 | 0.0 | 0.0 | 104.76 | 0.0 | 0.0 | -4.76 | 0.0 | 0.0 | 22.46 | 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) | 2.92 | -45.42 | 37.94 | 1.5 | 12.15 | -26.54 | 4.03 | 47.64 | 12.89 | -29.33 | 11.42 | -24.37 | 12.49 | -48.04 | 8.55 | -39.32 | 0.72 | -20.88 | 17.48 | -18.55 | 45.03 | -21.73 | 94.26 | 3.79 | 5.74 | -37.49 | 0.56 | 669.21 | 24.41 | 17.41 |
| 2022 (9) | 5.35 | 49.44 | 37.38 | 9.17 | 16.54 | 19.08 | 2.73 | -17.83 | 18.24 | 24.93 | 15.10 | 22.47 | 24.04 | 16.3 | 14.09 | 37.06 | 0.91 | 12.35 | 21.46 | 16.5 | 57.53 | -43.09 | 90.82 | -3.92 | 9.18 | 95.81 | 0.07 | -17.63 | 20.79 | 1.02 |
| 2021 (8) | 3.58 | 214.04 | 34.24 | 1.42 | 13.89 | 101.3 | 3.32 | -30.43 | 14.60 | 143.74 | 12.33 | 118.62 | 20.67 | 192.36 | 10.28 | 149.51 | 0.81 | 17.39 | 18.42 | 62.29 | 101.09 | -12.4 | 94.53 | -18.97 | 4.69 | 0 | 0.09 | 0 | 20.58 | -20.88 |
| 2020 (7) | 1.14 | -62.13 | 33.76 | -13.3 | 6.90 | -45.06 | 4.77 | 67.37 | 5.99 | -53.42 | 5.64 | -46.69 | 7.07 | -59.16 | 4.12 | -64.48 | 0.69 | -35.51 | 11.35 | -29.89 | 115.40 | 129.42 | 116.67 | 19.07 | -16.67 | 0 | 0.00 | 0 | 26.01 | 12.89 |
| 2019 (6) | 3.01 | 51.26 | 38.94 | 8.05 | 12.56 | 32.21 | 2.85 | 100.43 | 12.86 | 24.73 | 10.58 | 24.03 | 17.31 | 42.59 | 11.60 | 42.68 | 1.07 | 15.05 | 16.19 | 33.14 | 50.30 | -8.41 | 97.98 | 6.14 | 2.02 | -73.74 | 0.14 | -3.01 | 23.04 | -4.04 |
| 2018 (5) | 1.99 | 61.79 | 36.04 | 0.92 | 9.50 | 31.58 | 1.42 | -10.27 | 10.31 | 70.41 | 8.53 | 57.38 | 12.14 | 58.69 | 8.13 | 46.75 | 0.93 | -8.82 | 12.16 | 50.12 | 54.92 | 6.48 | 92.31 | -23.45 | 7.69 | 0 | 0.14 | 0 | 24.01 | -1.64 |
| 2017 (4) | 1.23 | -26.79 | 35.71 | -5.53 | 7.22 | -23.68 | 1.58 | -1.23 | 6.05 | -37.18 | 5.42 | -26.76 | 7.65 | -37.7 | 5.54 | -41.93 | 1.02 | -20.93 | 8.10 | -32.16 | 51.58 | 117.82 | 120.59 | 22.86 | -20.59 | 0 | 0.00 | 0 | 24.41 | 3.92 |
| 2016 (3) | 1.68 | -20.0 | 37.80 | -4.4 | 9.46 | 9.24 | 1.60 | 47.06 | 9.63 | -2.53 | 7.40 | -2.76 | 12.28 | -17.58 | 9.54 | -12.15 | 1.29 | -9.15 | 11.94 | 4.28 | 23.68 | -32.42 | 98.15 | 10.42 | 1.85 | -85.71 | 0.00 | 0 | 23.49 | -1.72 |
| 2015 (2) | 2.10 | -6.67 | 39.54 | 1.93 | 8.66 | -6.48 | 1.09 | 2.98 | 9.88 | -5.73 | 7.61 | -9.62 | 14.90 | -20.45 | 10.86 | -19.2 | 1.42 | -10.13 | 11.45 | -6.83 | 35.04 | -13.07 | 88.89 | -1.01 | 12.96 | 5.86 | 0.00 | 0 | 23.90 | 11.37 |
| 2014 (1) | 2.25 | 114.29 | 38.79 | 0 | 9.26 | 0 | 1.06 | 18.64 | 10.48 | 0 | 8.42 | 0 | 18.73 | 0 | 13.44 | 0 | 1.58 | 2.6 | 12.29 | 52.86 | 40.31 | -0.15 | 89.80 | -0.23 | 12.24 | 22.45 | 0.00 | 0 | 21.46 | -7.66 |
