- 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) | 1.77 | -4.32 | -28.34 | 33.92 | 9.74 | 37.05 | 23.00 | 26.93 | 111.2 | 21.81 | -7.27 | 46.97 | 17.49 | -9.28 | 45.63 | 7.52 | -10.9 | -11.43 | 4.73 | -7.8 | 6.05 | 0.27 | 3.85 | -27.03 | 23.39 | -7.4 | 44.92 | 54.30 | -17.04 | -34.13 | 106.06 | 37.37 | 44.29 | -5.30 | -123.26 | -120.01 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 1.85 | -15.14 | 8.19 | 30.91 | 5.35 | 44.24 | 18.12 | 24.37 | 137.17 | 23.52 | 15.63 | 101.72 | 19.28 | 20.35 | 108.43 | 8.44 | 25.04 | 44.27 | 5.13 | 26.98 | 60.31 | 0.26 | 4.0 | -23.53 | 25.26 | 13.68 | 93.86 | 65.45 | 0.37 | -34.9 | 77.21 | 7.68 | 17.24 | 22.79 | -19.46 | -33.25 | 11.59 | -8.31 | 31.41 |
| 24Q1 (18) | 2.18 | 53.52 | 44.37 | 29.34 | -1.58 | 9.07 | 14.57 | -17.17 | 10.21 | 20.34 | 67.0 | 36.42 | 16.02 | 64.65 | 32.29 | 6.75 | 46.42 | 32.09 | 4.04 | 53.61 | 28.66 | 0.25 | -7.41 | -3.85 | 22.22 | 58.71 | 30.86 | 65.21 | -8.4 | -3.65 | 71.70 | -50.25 | -19.2 | 28.30 | 164.15 | 151.18 | 12.64 | -3.22 | 26.53 |
| 23Q4 (17) | 1.42 | -42.51 | 33.96 | 29.81 | 20.44 | 23.18 | 17.59 | 61.52 | 30.3 | 12.18 | -17.92 | 16.89 | 9.73 | -18.98 | 16.39 | 4.61 | -45.7 | 23.59 | 2.63 | -41.03 | 10.5 | 0.27 | -27.03 | -3.57 | 14.00 | -13.26 | 13.18 | 71.19 | -13.65 | 23.42 | 144.12 | 96.07 | 11.36 | -44.12 | -266.51 | -50.0 | 13.06 | 49.26 | 12.01 |
| 23Q3 (16) | 2.47 | 44.44 | 54.38 | 24.75 | 15.49 | -0.4 | 10.89 | 42.54 | 24.46 | 14.84 | 27.27 | -3.57 | 12.01 | 29.84 | -2.04 | 8.49 | 45.13 | 44.63 | 4.46 | 39.37 | 23.55 | 0.37 | 8.82 | 27.59 | 16.14 | 23.87 | -6.33 | 82.44 | -17.99 | 45.99 | 73.50 | 11.62 | 28.63 | 26.50 | -22.41 | -38.18 | 8.75 | -0.79 | -32.54 |
| 23Q2 (15) | 1.71 | 13.25 | 85.87 | 21.43 | -20.33 | -9.0 | 7.64 | -42.21 | -6.72 | 11.66 | -21.8 | -0.17 | 9.25 | -23.62 | 0.65 | 5.85 | 14.48 | 76.74 | 3.20 | 1.91 | 55.34 | 0.34 | 30.77 | 54.55 | 13.03 | -23.26 | -7.13 | 100.53 | 48.54 | 43.37 | 65.85 | -25.78 | -7.39 | 34.15 | 203.05 | 18.2 | 8.82 | -11.71 | -31.47 |
| 23Q1 (14) | 1.51 | 42.45 | 1.34 | 26.90 | 11.16 | 7.34 | 13.22 | -2.07 | 28.35 | 14.91 | 43.09 | 7.65 | 12.11 | 44.86 | 9.79 | 5.11 | 37.0 | -1.73 | 3.14 | 31.93 | -3.98 | 0.26 | -7.14 | -10.34 | 16.98 | 37.27 | 8.15 | 67.68 | 17.34 | 25.66 | 88.73 | -31.43 | 20.54 | 11.27 | 138.31 | -54.93 | 9.99 | -14.32 | -10.4 |
| 22Q4 (13) | 1.06 | -33.75 | -11.67 | 24.20 | -2.62 | 16.07 | 13.50 | 54.29 | 61.29 | 10.42 | -32.29 | 15.39 | 8.36 | -31.81 | 15.15 | 3.73 | -36.46 | -15.03 | 2.38 | -34.07 | -16.2 | 0.28 | -3.45 | -28.21 | 12.37 | -28.21 | 16.48 | 57.68 | 2.14 | -12.58 | 129.41 | 126.47 | 39.18 | -29.41 | -168.63 | -519.12 | 11.66 | -10.1 | 21.33 |
| 22Q3 (12) | 1.60 | 73.91 | 40.35 | 24.85 | 5.52 | 7.67 | 8.75 | 6.84 | -26.53 | 15.39 | 31.76 | 33.71 | 12.26 | 33.41 | 33.41 | 5.87 | 77.34 | 34.63 | 3.61 | 75.24 | 25.78 | 0.29 | 31.82 | -6.45 | 17.23 | 22.81 | 27.63 | 56.47 | -19.47 | 21.99 | 57.14 | -19.64 | -43.88 | 42.86 | 48.35 | 1278.57 | 12.97 | 0.78 | 31.68 |
| 22Q2 (11) | 0.92 | -38.26 | 31.43 | 23.55 | -6.03 | -10.25 | 8.19 | -20.49 | -24.66 | 11.68 | -15.67 | 35.03 | 9.19 | -16.68 | 7.36 | 3.31 | -36.35 | 30.83 | 2.06 | -37.0 | 17.05 | 0.22 | -24.14 | 10.0 | 14.03 | -10.64 | 19.4 | 70.12 | 30.19 | 17.12 | 71.11 | -3.4 | -43.53 | 28.89 | 15.56 | 211.43 | 12.87 | 15.43 | -7.28 |
| 22Q1 (10) | 1.49 | 24.17 | 24.17 | 25.06 | 20.19 | -20.01 | 10.30 | 23.06 | -41.87 | 13.85 | 53.38 | -20.95 | 11.03 | 51.93 | -21.77 | 5.20 | 18.45 | 27.45 | 3.27 | 15.14 | 7.57 | 0.29 | -25.64 | 38.1 | 15.70 | 47.83 | -23.86 | 53.86 | -18.37 | 60.35 | 73.61 | -20.83 | -27.66 | 25.00 | 256.25 | 1525.0 | 11.15 | 16.02 | -21.37 |
| 21Q4 (9) | 1.20 | 5.26 | 25.0 | 20.85 | -9.66 | -11.84 | 8.37 | -29.72 | -41.1 | 9.03 | -21.55 | -20.44 | 7.26 | -21.0 | -20.74 | 4.39 | 0.69 | 29.5 | 2.84 | -1.05 | 14.52 | 0.39 | 25.81 | 44.44 | 10.62 | -21.33 | -23.98 | 65.98 | 42.54 | 80.42 | 92.98 | -8.68 | -26.59 | 7.02 | 292.98 | 128.71 | 9.61 | -2.44 | -23.37 |
| 21Q3 (8) | 1.14 | 62.86 | -22.97 | 23.08 | -12.04 | -18.16 | 11.91 | 9.57 | -23.46 | 11.51 | 33.06 | -19.34 | 9.19 | 7.36 | -20.36 | 4.36 | 72.33 | -20.15 | 2.87 | 63.07 | -18.47 | 0.31 | 55.0 | 3.33 | 13.50 | 14.89 | -17.33 | 46.29 | -22.68 | 15.26 | 101.82 | -19.14 | -6.22 | -3.64 | 85.97 | 57.58 | 9.85 | -29.03 | -0.51 |
| 21Q2 (7) | 0.70 | -41.67 | -49.28 | 26.24 | -16.25 | -10.81 | 10.87 | -38.66 | -24.2 | 8.65 | -50.63 | -37.9 | 8.56 | -39.29 | -25.63 | 2.53 | -37.99 | -49.09 | 1.76 | -42.11 | -43.77 | 0.20 | -4.76 | -25.93 | 11.75 | -43.02 | -27.11 | 59.87 | 78.24 | -18.2 | 125.93 | 23.75 | 22.11 | -25.93 | -1377.78 | -729.63 | 13.88 | -2.12 | 0 |
| 21Q1 (6) | 1.20 | 25.0 | -19.46 | 31.33 | 32.47 | 5.56 | 17.72 | 24.7 | 11.52 | 17.52 | 54.36 | 4.78 | 14.10 | 53.93 | 4.37 | 4.08 | 20.35 | -21.69 | 3.04 | 22.58 | -13.88 | 0.21 | -22.22 | -19.23 | 20.62 | 47.6 | 7.45 | 33.59 | -8.15 | -30.81 | 101.75 | -19.67 | 7.83 | -1.75 | 92.82 | -131.14 | 14.18 | 13.08 | 27.17 |
| 20Q4 (5) | 0.96 | -35.14 | -30.94 | 23.65 | -16.13 | -20.74 | 14.21 | -8.68 | -9.2 | 11.35 | -20.46 | -10.13 | 9.16 | -20.62 | -9.31 | 3.39 | -37.91 | -33.53 | 2.48 | -29.55 | -28.12 | 0.27 | -10.0 | -20.59 | 13.97 | -14.45 | -4.58 | 36.57 | -8.94 | -25.58 | 126.67 | 16.67 | 1.95 | -24.44 | -185.19 | -0.83 | 12.54 | 26.67 | 4.24 |
| 20Q3 (4) | 1.48 | 7.25 | 0.0 | 28.20 | -4.15 | 0.0 | 15.56 | 8.51 | 0.0 | 14.27 | 2.44 | 0.0 | 11.54 | 0.26 | 0.0 | 5.46 | 9.86 | 0.0 | 3.52 | 12.46 | 0.0 | 0.30 | 11.11 | 0.0 | 16.33 | 1.3 | 0.0 | 40.16 | -45.13 | 0.0 | 108.57 | 5.28 | 0.0 | -8.57 | -174.29 | 0.0 | 9.90 | 0 | 0.0 |
| 20Q2 (3) | 1.38 | -7.38 | 0.0 | 29.42 | -0.88 | 0.0 | 14.34 | -9.75 | 0.0 | 13.93 | -16.69 | 0.0 | 11.51 | -14.8 | 0.0 | 4.97 | -4.61 | 0.0 | 3.13 | -11.33 | 0.0 | 0.27 | 3.85 | 0.0 | 16.12 | -16.0 | 0.0 | 73.19 | 50.75 | 0.0 | 103.12 | 9.28 | 0.0 | -3.12 | -155.47 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 1.49 | 7.19 | 0.0 | 29.68 | -0.54 | 0.0 | 15.89 | 1.53 | 0.0 | 16.72 | 32.38 | 0.0 | 13.51 | 33.76 | 0.0 | 5.21 | 2.16 | 0.0 | 3.53 | 2.32 | 0.0 | 0.26 | -23.53 | 0.0 | 19.19 | 31.08 | 0.0 | 48.55 | -1.2 | 0.0 | 94.37 | -24.05 | 0.0 | 5.63 | 123.24 | 0.0 | 11.15 | -7.32 | 0.0 |
| 19Q4 (1) | 1.39 | 0.0 | 0.0 | 29.84 | 0.0 | 0.0 | 15.65 | 0.0 | 0.0 | 12.63 | 0.0 | 0.0 | 10.10 | 0.0 | 0.0 | 5.10 | 0.0 | 0.0 | 3.45 | 0.0 | 0.0 | 0.34 | 0.0 | 0.0 | 14.64 | 0.0 | 0.0 | 49.14 | 0.0 | 0.0 | 124.24 | 0.0 | 0.0 | -24.24 | 0.0 | 0.0 | 12.03 | 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) | 7.11 | 40.24 | 25.34 | 3.56 | 11.90 | 15.76 | 1.46 | -21.13 | 13.38 | 3.48 | 10.75 | 4.47 | 23.68 | 32.29 | 14.44 | 30.09 | 1.34 | 25.23 | 14.95 | 0.34 | 71.19 | 23.42 | 89.05 | 12.01 | 11.24 | -45.14 | 0.15 | -36.19 | 9.95 | -17.84 |
| 2022 (9) | 5.07 | 19.58 | 24.47 | 0.37 | 10.28 | -10.76 | 1.86 | -9.99 | 12.93 | 15.24 | 10.29 | 10.65 | 17.90 | 19.41 | 11.10 | 10.89 | 1.07 | 0.0 | 14.90 | 10.7 | 57.68 | -12.58 | 79.51 | -22.47 | 20.49 | 0 | 0.23 | -32.11 | 12.11 | 7.17 |
| 2021 (8) | 4.24 | -20.15 | 24.38 | -12.43 | 11.52 | -23.3 | 2.06 | 1.43 | 11.22 | -20.43 | 9.30 | -18.85 | 14.99 | -20.05 | 10.01 | -24.4 | 1.07 | -6.96 | 13.46 | -18.37 | 65.98 | 80.42 | 102.55 | -3.62 | -2.55 | 0 | 0.34 | 27.13 | 11.30 | -0.62 |
| 2020 (7) | 5.31 | -1.67 | 27.84 | -1.8 | 15.02 | 7.98 | 2.03 | -2.32 | 14.10 | 2.84 | 11.46 | 3.99 | 18.75 | -4.58 | 13.24 | -4.34 | 1.15 | -7.26 | 16.49 | 2.3 | 36.57 | -25.58 | 106.40 | 4.77 | -6.40 | 0 | 0.27 | -39.39 | 11.37 | -3.4 |
| 2019 (6) | 5.40 | 10.88 | 28.35 | 7.35 | 13.91 | 21.38 | 2.08 | 87.5 | 13.71 | 14.06 | 11.02 | 11.88 | 19.65 | 7.49 | 13.84 | 7.45 | 1.24 | -5.34 | 16.12 | 21.48 | 49.14 | 31.6 | 101.56 | 6.24 | -1.56 | 0 | 0.44 | -37.43 | 11.77 | -1.18 |
| 2018 (5) | 4.87 | 21.75 | 26.41 | 4.47 | 11.46 | 8.73 | 1.11 | 13.28 | 12.02 | 21.78 | 9.85 | 20.12 | 18.28 | 0.27 | 12.88 | 6.1 | 1.31 | -11.49 | 13.27 | 20.64 | 37.34 | -20.11 | 95.59 | -10.81 | 4.85 | 0 | 0.70 | 0 | 11.91 | 19.22 |
| 2017 (4) | 4.00 | 0 | 25.28 | 1.49 | 10.54 | 1.05 | 0.98 | 17.09 | 9.87 | -3.99 | 8.20 | -3.98 | 18.23 | -15.45 | 12.14 | -12.66 | 1.48 | -9.2 | 11.00 | -2.14 | 46.74 | -16.09 | 107.18 | 5.34 | -6.63 | 0 | 0.00 | 0 | 9.99 | -5.67 |
| 2016 (3) | 0.00 | 0 | 24.91 | 4.97 | 10.43 | 1.76 | 0.84 | 38.24 | 10.28 | -4.81 | 8.54 | -9.53 | 21.56 | -15.81 | 13.90 | -9.56 | 1.63 | 0.0 | 11.24 | -2.26 | 55.70 | 1.92 | 101.74 | 7.16 | -1.74 | 0 | 0.00 | 0 | 10.59 | 5.37 |
| 2015 (2) | 5.13 | -23.32 | 23.73 | 4.77 | 10.25 | -1.73 | 0.61 | 41.56 | 10.80 | -2.88 | 9.44 | 0.43 | 25.61 | -20.02 | 15.37 | -18.07 | 1.63 | -18.5 | 11.50 | -0.95 | 54.65 | -32.96 | 94.94 | 1.05 | 5.06 | -16.34 | 0.00 | 0 | 10.05 | 1.41 |
| 2014 (1) | 6.69 | 93.91 | 22.65 | 0 | 10.43 | 0 | 0.43 | 24.01 | 11.12 | 0 | 9.40 | 0 | 32.02 | 0 | 18.76 | 0 | 2.00 | 16.96 | 11.61 | -19.82 | 81.52 | 44.39 | 93.96 | 0.14 | 6.04 | -2.09 | 0.00 | 0 | 9.91 | -13.07 |
