- 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) | 0.05 | -97.46 | -97.87 | 33.58 | -10.43 | -8.0 | 4.62 | -54.71 | -63.19 | 3.61 | -79.9 | -82.9 | 2.23 | -84.84 | -86.68 | 0.33 | -85.65 | -88.74 | 0.27 | -85.25 | -88.61 | 0.12 | 0.0 | -14.29 | 7.38 | -65.29 | -69.36 | 20.88 | -36.03 | 0.43 | 126.98 | 123.52 | 113.76 | -26.98 | -162.48 | -166.47 | 24.03 | 7.85 | 17.79 |
| 24Q2 (19) | 1.97 | -45.43 | -29.14 | 37.49 | 10.26 | 5.61 | 10.20 | 102.78 | -20.0 | 17.96 | -39.43 | -20.0 | 14.71 | -44.39 | -17.22 | 2.30 | -40.1 | -32.94 | 1.83 | -42.99 | -33.7 | 0.12 | 0.0 | -25.0 | 21.26 | -35.79 | -14.45 | 32.64 | 55.5 | 17.75 | 56.81 | 233.38 | 0.18 | 43.19 | -48.06 | -0.23 | 22.28 | -6.15 | 13.62 |
| 24Q1 (18) | 3.61 | 581.13 | 25.78 | 34.00 | -5.56 | 5.33 | 5.03 | -59.04 | -59.01 | 29.65 | 291.68 | 46.49 | 26.45 | 350.6 | 51.14 | 3.84 | 291.84 | 8.78 | 3.21 | 286.75 | 9.93 | 0.12 | -14.29 | -29.41 | 33.11 | 211.77 | 52.09 | 20.99 | 12.79 | 2.64 | 17.04 | -89.53 | -71.96 | 83.15 | 232.51 | 110.56 | 23.74 | 25.67 | 32.63 |
| 23Q4 (17) | 0.53 | -77.45 | -80.8 | 36.00 | -1.37 | 0.93 | 12.28 | -2.15 | -20.52 | 7.57 | -64.14 | -57.66 | 5.87 | -64.93 | -60.5 | 0.98 | -66.55 | -73.22 | 0.83 | -64.98 | -72.24 | 0.14 | 0.0 | -30.0 | 10.62 | -55.92 | -44.66 | 18.61 | -10.49 | -14.59 | 162.75 | 173.96 | 88.47 | -62.75 | -254.56 | -559.75 | 18.89 | -7.4 | 5.41 |
| 23Q3 (16) | 2.35 | -15.47 | -29.43 | 36.50 | 2.82 | 17.93 | 12.55 | -1.57 | -3.01 | 21.11 | -5.97 | -5.93 | 16.74 | -5.8 | -10.19 | 2.93 | -14.58 | -33.26 | 2.37 | -14.13 | -31.5 | 0.14 | -12.5 | -26.32 | 24.09 | -3.06 | 0.79 | 20.79 | -25.0 | -14.97 | 59.40 | 4.75 | 3.17 | 40.60 | -6.22 | -4.31 | 20.40 | 4.03 | 22.74 |
| 23Q2 (15) | 2.78 | -3.14 | 1.46 | 35.50 | 9.98 | -2.34 | 12.75 | 3.91 | -29.79 | 22.45 | 10.92 | 18.03 | 17.77 | 1.54 | 20.07 | 3.43 | -2.83 | -4.19 | 2.76 | -5.48 | -2.47 | 0.16 | -5.88 | -15.79 | 24.85 | 14.15 | 21.93 | 27.72 | 35.55 | -7.57 | 56.71 | -6.68 | -40.6 | 43.29 | 9.63 | 854.79 | 19.61 | 9.55 | 19.65 |
| 23Q1 (14) | 2.87 | 3.99 | 137.19 | 32.28 | -9.5 | 13.9 | 12.27 | -20.58 | 19.47 | 20.24 | 13.2 | 96.7 | 17.50 | 17.77 | 127.86 | 3.53 | -3.55 | 101.71 | 2.92 | -2.34 | 104.2 | 0.17 | -15.0 | -10.53 | 21.77 | 13.44 | 87.19 | 20.45 | -6.15 | -16.26 | 60.77 | -29.63 | -39.23 | 39.49 | 189.33 | 0 | 17.90 | -0.11 | 13.51 |
| 22Q4 (13) | 2.76 | -17.12 | -2.13 | 35.67 | 15.25 | 15.89 | 15.45 | 19.4 | 11.47 | 17.88 | -20.32 | -5.05 | 14.86 | -20.28 | -7.3 | 3.66 | -16.63 | -11.38 | 2.99 | -13.58 | -12.32 | 0.20 | 5.26 | -4.76 | 19.19 | -19.71 | -4.43 | 21.79 | -10.88 | 0.14 | 86.35 | 49.98 | 17.59 | 13.65 | -67.83 | -48.14 | 17.92 | 7.82 | 16.06 |
| 22Q3 (12) | 3.33 | 21.53 | 278.41 | 30.95 | -14.86 | 7.13 | 12.94 | -28.74 | 46.88 | 22.44 | 17.98 | 172.0 | 18.64 | 25.95 | 186.33 | 4.39 | 22.63 | 245.67 | 3.46 | 22.26 | 235.92 | 0.19 | 0.0 | 18.75 | 23.90 | 17.27 | 140.44 | 24.45 | -18.47 | 12.99 | 57.58 | -39.69 | -45.79 | 42.42 | 835.69 | 708.08 | 16.62 | 1.4 | -10.5 |
| 22Q2 (11) | 2.74 | 126.45 | 1342.11 | 36.35 | 28.26 | 35.18 | 18.16 | 76.83 | 283.12 | 19.02 | 84.84 | 457.77 | 14.80 | 92.71 | 601.42 | 3.58 | 104.57 | 894.44 | 2.83 | 97.9 | 843.33 | 0.19 | 0.0 | 35.71 | 20.38 | 75.24 | 286.72 | 29.99 | 22.81 | 6.65 | 95.47 | -4.53 | -31.61 | 4.53 | 0 | 111.45 | 16.39 | 3.93 | -19.54 |
| 22Q1 (10) | 1.21 | -57.09 | 255.88 | 28.34 | -7.93 | -4.32 | 10.27 | -25.9 | 152.96 | 10.29 | -45.35 | 155.97 | 7.68 | -52.09 | 123.91 | 1.75 | -57.63 | 236.54 | 1.43 | -58.06 | 217.78 | 0.19 | -9.52 | 46.15 | 11.63 | -42.08 | 91.28 | 24.42 | 12.22 | 45.27 | 100.00 | 36.18 | 0.0 | 0.00 | -100.0 | 100.0 | 15.77 | 2.14 | -29.0 |
| 21Q4 (9) | 2.82 | 220.45 | 161.11 | 30.78 | 6.54 | -13.12 | 13.86 | 57.32 | 22.11 | 18.83 | 128.24 | 44.07 | 16.03 | 146.24 | 51.23 | 4.13 | 225.2 | 128.18 | 3.41 | 231.07 | 115.82 | 0.21 | 31.25 | 40.0 | 20.08 | 102.01 | 34.31 | 21.76 | 0.55 | 51.22 | 73.43 | -30.85 | -15.55 | 26.32 | 477.19 | 101.75 | 15.44 | -16.86 | -23.79 |
| 21Q3 (8) | 0.88 | 363.16 | 33.33 | 28.89 | 7.44 | -3.67 | 8.81 | 85.86 | -4.45 | 8.25 | 141.94 | 8.13 | 6.51 | 208.53 | 7.6 | 1.27 | 252.78 | 14.41 | 1.03 | 243.33 | 9.57 | 0.16 | 14.29 | 6.67 | 9.94 | 88.61 | 4.85 | 21.64 | -23.04 | 46.41 | 106.20 | -23.92 | -12.4 | -6.98 | 82.37 | 67.15 | 18.57 | -8.84 | -4.72 |
| 21Q2 (7) | 0.19 | -44.12 | -91.24 | 26.89 | -9.22 | -18.71 | 4.74 | 16.75 | -62.85 | 3.41 | -15.17 | -82.32 | 2.11 | -38.48 | -86.97 | 0.36 | -30.77 | -88.71 | 0.30 | -33.33 | -88.72 | 0.14 | 7.69 | -12.5 | 5.27 | -13.32 | -74.95 | 28.12 | 67.28 | 18.65 | 139.58 | 39.58 | 111.43 | -39.58 | -1918.75 | -216.49 | 20.37 | -8.28 | 0 |
| 21Q1 (6) | 0.34 | -68.52 | 203.03 | 29.62 | -16.4 | -8.92 | 4.06 | -64.23 | -52.29 | 4.02 | -69.24 | 1440.0 | 3.43 | -67.64 | 237.75 | 0.52 | -71.27 | 223.81 | 0.45 | -71.52 | 228.57 | 0.13 | -13.33 | -7.14 | 6.08 | -59.33 | 253.49 | 16.81 | 16.82 | -0.53 | 100.00 | 15.0 | 103.36 | -1.96 | -115.03 | -100.06 | 22.21 | 9.62 | 11.38 |
| 20Q4 (5) | 1.08 | 63.64 | -37.21 | 35.43 | 18.14 | 0.0 | 11.35 | 23.1 | -12.96 | 13.07 | 71.3 | -16.22 | 10.60 | 75.21 | -19.7 | 1.81 | 63.06 | -28.17 | 1.58 | 68.09 | -26.85 | 0.15 | 0.0 | -6.25 | 14.95 | 57.7 | -13.98 | 14.39 | -2.64 | -12.1 | 86.96 | -28.28 | 3.92 | 13.04 | 161.41 | -20.11 | 20.26 | 3.95 | 13.76 |
| 20Q3 (4) | 0.66 | -69.59 | 0.0 | 29.99 | -9.34 | 0.0 | 9.22 | -27.74 | 0.0 | 7.63 | -60.45 | 0.0 | 6.05 | -62.63 | 0.0 | 1.11 | -65.2 | 0.0 | 0.94 | -64.66 | 0.0 | 0.15 | -6.25 | 0.0 | 9.48 | -54.94 | 0.0 | 14.78 | -37.64 | 0.0 | 121.24 | 83.64 | 0.0 | -21.24 | -162.5 | 0.0 | 19.49 | 0 | 0.0 |
| 20Q2 (3) | 2.17 | 757.58 | 0.0 | 33.08 | 1.72 | 0.0 | 12.76 | 49.94 | 0.0 | 19.29 | 6530.0 | 0.0 | 16.19 | 750.2 | 0.0 | 3.19 | 859.52 | 0.0 | 2.66 | 860.0 | 0.0 | 0.16 | 14.29 | 0.0 | 21.04 | 1123.26 | 0.0 | 23.70 | 40.24 | 0.0 | 66.02 | 102.22 | 0.0 | 33.98 | -98.89 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | -0.33 | -119.19 | 0.0 | 32.52 | -8.21 | 0.0 | 8.51 | -34.74 | 0.0 | -0.30 | -101.92 | 0.0 | -2.49 | -118.86 | 0.0 | -0.42 | -116.67 | 0.0 | -0.35 | -116.2 | 0.0 | 0.14 | -12.5 | 0.0 | 1.72 | -90.1 | 0.0 | 16.90 | 3.24 | 0.0 | -2975.00 | -3655.49 | 0.0 | 3075.00 | 18734.38 | 0.0 | 19.94 | 11.96 | 0.0 |
| 19Q4 (1) | 1.72 | 0.0 | 0.0 | 35.43 | 0.0 | 0.0 | 13.04 | 0.0 | 0.0 | 15.60 | 0.0 | 0.0 | 13.20 | 0.0 | 0.0 | 2.52 | 0.0 | 0.0 | 2.16 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 17.38 | 0.0 | 0.0 | 16.37 | 0.0 | 0.0 | 83.67 | 0.0 | 0.0 | 16.33 | 0.0 | 0.0 | 17.81 | 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) | 8.42 | -16.05 | 35.11 | 6.52 | 12.47 | -12.8 | 1.64 | 50.07 | 17.85 | 1.88 | 14.46 | 2.55 | 10.87 | -18.09 | 9.10 | -16.82 | 0.63 | -18.18 | 20.35 | 7.79 | 18.61 | -14.59 | 69.81 | -14.46 | 30.12 | 63.8 | 4.87 | 4170.47 | 19.22 | 14.95 |
| 2022 (9) | 10.03 | 137.68 | 32.96 | 12.8 | 14.30 | 65.51 | 1.09 | -18.63 | 17.52 | 77.69 | 14.10 | 74.29 | 13.27 | 116.48 | 10.94 | 109.18 | 0.77 | 20.31 | 18.88 | 63.89 | 21.79 | 0.14 | 81.61 | -6.94 | 18.39 | 49.48 | 0.11 | -35.3 | 16.72 | -10.35 |
| 2021 (8) | 4.22 | 17.88 | 29.22 | -10.72 | 8.64 | -17.87 | 1.34 | -16.87 | 9.86 | -3.52 | 8.09 | 2.8 | 6.13 | 10.25 | 5.23 | 7.84 | 0.64 | 4.92 | 11.52 | -4.87 | 21.76 | 51.22 | 87.70 | -14.84 | 12.30 | 0 | 0.18 | -32.5 | 18.65 | -4.46 |
| 2020 (7) | 3.58 | -30.75 | 32.73 | -2.5 | 10.52 | -10.16 | 1.61 | 1.05 | 10.22 | -24.35 | 7.87 | -27.6 | 5.56 | -30.59 | 4.85 | -30.01 | 0.61 | -3.17 | 12.11 | -20.9 | 14.39 | -12.1 | 102.99 | 18.72 | -2.99 | 0 | 0.26 | 5.27 | 19.52 | 7.9 |
| 2019 (6) | 5.17 | -24.64 | 33.57 | 8.89 | 11.71 | 46.38 | 1.59 | 46.75 | 13.51 | -16.14 | 10.87 | -23.93 | 8.01 | -37.18 | 6.93 | -35.23 | 0.63 | -16.0 | 15.31 | -12.01 | 16.37 | 0.24 | 86.75 | 74.62 | 13.25 | -73.66 | 0.25 | 302.36 | 18.09 | -5.83 |
| 2018 (5) | 6.86 | 22.5 | 30.83 | -1.09 | 8.00 | -5.55 | 1.09 | -12.26 | 16.11 | 23.92 | 14.29 | 24.91 | 12.75 | -16.56 | 10.70 | -8.31 | 0.75 | -25.74 | 17.40 | 20.0 | 16.33 | -36.11 | 49.68 | -23.64 | 50.32 | 44.6 | 0.06 | 0 | 19.21 | -3.47 |
| 2017 (4) | 5.60 | 5.26 | 31.17 | -4.39 | 8.47 | -29.59 | 1.24 | 11.54 | 13.00 | 5.18 | 11.44 | 13.27 | 15.28 | -19.83 | 11.67 | -14.94 | 1.01 | -25.19 | 14.50 | 6.54 | 25.56 | -36.18 | 65.06 | -33.07 | 34.80 | 1205.96 | 0.00 | 0 | 19.90 | 12.18 |
| 2016 (3) | 5.32 | 59.28 | 32.60 | 2.26 | 12.03 | 26.1 | 1.11 | -13.92 | 12.36 | 25.1 | 10.10 | 32.2 | 19.06 | 38.12 | 13.72 | 37.06 | 1.35 | 3.85 | 13.61 | 20.02 | 40.05 | 3.54 | 97.19 | 0.59 | 2.66 | -21.12 | 0.00 | 0 | 17.74 | -9.58 |
| 2015 (2) | 3.34 | -19.13 | 31.88 | -9.07 | 9.54 | -15.8 | 1.29 | -11.22 | 9.88 | -25.49 | 7.64 | -30.55 | 13.80 | -23.67 | 10.01 | -24.45 | 1.30 | 8.33 | 11.34 | -23.64 | 38.68 | -0.87 | 96.62 | 13.15 | 3.38 | -76.87 | 0.00 | 0 | 19.62 | -10.7 |
| 2014 (1) | 4.13 | 34.97 | 35.06 | 0 | 11.33 | 0 | 1.45 | -16.16 | 13.26 | 0 | 11.00 | 0 | 18.08 | 0 | 13.25 | 0 | 1.20 | 0 | 14.85 | 10.99 | 39.02 | 11.93 | 85.40 | 73.7 | 14.60 | -71.27 | 0.00 | 0 | 21.97 | -7.38 |
