- 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) | 1.40 | -45.1 | 150.0 | 52.59 | -8.94 | 70.58 | 38.49 | -18.56 | 103.22 | 38.58 | -20.06 | 101.25 | 31.77 | -21.46 | 108.19 | 3.79 | -47.94 | 135.4 | 3.24 | -47.74 | 126.57 | 0.10 | -33.33 | 11.11 | 51.22 | -9.98 | 53.68 | 22.26 | 87.85 | 103.29 | 99.47 | 1.57 | 0.75 | 0.00 | -100.0 | -100.0 | 12.15 | 44.64 | -15.27 |
| 24Q2 (19) | 2.55 | 117.95 | 71.14 | 57.75 | 20.87 | 34.02 | 47.26 | 43.91 | 43.52 | 48.26 | 41.86 | 44.36 | 40.45 | 45.24 | 47.2 | 7.28 | 119.94 | 65.83 | 6.20 | 119.08 | 78.16 | 0.15 | 50.0 | 15.38 | 56.90 | 21.32 | 32.97 | 11.85 | -49.81 | -27.96 | 97.94 | 1.78 | -0.59 | 2.06 | -45.28 | 39.04 | 8.40 | -33.07 | -17.16 |
| 24Q1 (18) | 1.17 | -31.58 | 51.95 | 47.78 | 0.0 | 2.16 | 32.84 | -13.53 | 3.66 | 34.02 | -6.36 | 9.64 | 27.85 | -4.13 | 20.82 | 3.31 | -30.32 | 55.4 | 2.83 | -33.88 | 64.53 | 0.10 | -33.33 | 42.86 | 46.90 | 3.6 | 2.36 | 23.61 | 121.9 | -36.75 | 96.23 | -8.02 | -6.22 | 3.77 | 181.65 | 316.98 | 12.55 | 47.65 | -24.49 |
| 23Q4 (17) | 1.71 | 205.36 | -16.59 | 47.78 | 54.98 | -4.15 | 37.98 | 100.53 | -6.8 | 36.33 | 89.51 | -8.35 | 29.05 | 90.37 | -9.7 | 4.75 | 195.03 | -12.2 | 4.28 | 199.3 | -9.32 | 0.15 | 66.67 | 0.0 | 45.27 | 35.82 | -4.47 | 10.64 | -2.83 | -25.8 | 104.62 | 5.96 | 1.73 | -4.62 | -465.13 | -62.34 | 8.50 | -40.73 | -19.28 |
| 23Q3 (16) | 0.56 | -62.42 | -71.13 | 30.83 | -28.45 | -40.25 | 18.94 | -42.48 | -51.0 | 19.17 | -42.66 | -52.49 | 15.26 | -44.47 | -53.99 | 1.61 | -63.33 | -70.19 | 1.43 | -58.91 | -69.11 | 0.09 | -30.77 | -35.71 | 33.33 | -22.11 | -31.45 | 10.95 | -33.43 | -29.22 | 98.73 | 0.22 | 3.06 | 1.27 | -14.77 | -69.85 | 14.34 | 41.42 | 69.7 |
| 23Q2 (15) | 1.49 | 93.51 | -56.94 | 43.09 | -7.87 | -34.98 | 32.93 | 3.95 | -40.98 | 33.43 | 7.73 | -41.33 | 27.48 | 19.22 | -40.18 | 4.39 | 106.1 | -57.83 | 3.48 | 102.33 | -58.17 | 0.13 | 85.71 | -27.78 | 42.79 | -6.61 | -32.29 | 16.45 | -55.93 | -9.37 | 98.51 | -3.99 | 0.62 | 1.49 | 185.4 | -29.16 | 10.14 | -38.99 | 59.94 |
| 23Q1 (14) | 0.77 | -62.44 | -45.0 | 46.77 | -6.18 | -23.26 | 31.68 | -22.26 | -28.84 | 31.03 | -21.72 | -31.86 | 23.05 | -28.35 | -34.76 | 2.13 | -60.63 | -50.23 | 1.72 | -63.56 | -50.14 | 0.07 | -53.33 | -30.0 | 45.82 | -3.31 | -19.63 | 37.33 | 160.32 | 11.97 | 102.61 | -0.23 | 4.69 | -1.74 | 38.91 | -169.91 | 16.62 | 57.83 | 42.54 |
| 22Q4 (13) | 2.05 | 5.67 | -11.26 | 49.85 | -3.39 | -15.91 | 40.75 | 5.43 | -13.65 | 39.64 | -1.76 | -15.28 | 32.17 | -3.01 | -11.21 | 5.41 | 0.19 | -22.93 | 4.72 | 1.94 | -23.25 | 0.15 | 7.14 | -11.76 | 47.39 | -2.53 | -12.05 | 14.34 | -7.3 | -12.56 | 102.85 | 7.35 | 2.23 | -2.85 | -167.81 | -215.07 | 10.53 | 24.62 | 37.47 |
| 22Q3 (12) | 1.94 | -43.93 | 145.57 | 51.60 | -22.14 | 4.14 | 38.65 | -30.72 | 26.06 | 40.35 | -29.19 | 32.64 | 33.17 | -27.8 | 38.27 | 5.40 | -48.13 | 115.14 | 4.63 | -44.35 | 108.56 | 0.14 | -22.22 | 55.56 | 48.62 | -23.07 | 10.22 | 15.47 | -14.77 | 30.22 | 95.80 | -2.15 | -5.05 | 4.20 | 100.27 | 566.03 | 8.45 | 33.28 | -29.23 |
| 22Q2 (11) | 3.46 | 147.14 | 148.92 | 66.27 | 8.73 | 19.82 | 55.79 | 25.31 | 35.22 | 56.98 | 25.12 | 38.74 | 45.94 | 30.03 | 40.7 | 10.41 | 143.22 | 126.3 | 8.32 | 141.16 | 121.28 | 0.18 | 80.0 | 63.64 | 63.20 | 10.86 | 23.03 | 18.15 | -45.56 | 16.42 | 97.90 | -0.11 | -2.6 | 2.10 | -15.72 | 508.81 | 6.34 | -45.63 | -31.16 |
| 22Q1 (10) | 1.40 | -39.39 | 137.29 | 60.95 | 2.82 | 24.26 | 44.52 | -5.66 | 57.09 | 45.54 | -2.67 | 59.57 | 35.33 | -2.48 | 64.71 | 4.28 | -39.03 | 124.08 | 3.45 | -43.9 | 137.93 | 0.10 | -41.18 | 42.86 | 57.01 | 5.81 | 29.22 | 33.34 | 103.29 | 9.56 | 98.01 | -2.58 | -1.99 | 2.49 | 375.29 | 116.42 | 11.66 | 52.22 | -15.69 |
| 21Q4 (9) | 2.31 | 192.41 | 8.96 | 59.28 | 19.64 | -0.84 | 47.19 | 53.91 | -5.54 | 46.79 | 53.81 | -4.57 | 36.23 | 51.02 | -7.17 | 7.02 | 179.68 | 2.18 | 6.15 | 177.03 | 25.77 | 0.17 | 88.89 | 41.67 | 53.88 | 22.15 | -4.96 | 16.40 | 38.05 | -60.73 | 100.60 | -0.3 | -1.06 | -0.90 | -0.3 | 55.27 | 7.66 | -35.85 | -2.67 |
| 21Q3 (8) | 0.79 | -43.17 | -21.0 | 49.55 | -10.41 | -7.11 | 30.66 | -25.69 | -23.18 | 30.42 | -25.93 | -21.58 | 23.99 | -26.52 | -21.47 | 2.51 | -45.43 | -26.61 | 2.22 | -40.96 | -6.72 | 0.09 | -18.18 | 12.5 | 44.11 | -14.13 | -12.96 | 11.88 | -23.8 | -71.6 | 100.90 | 0.39 | -1.86 | -0.90 | -75.68 | 68.02 | 11.94 | 29.64 | 10.25 |
| 21Q2 (7) | 1.39 | 135.59 | 139.66 | 55.31 | 12.76 | 67.25 | 41.26 | 45.59 | 96.38 | 41.07 | 43.9 | 94.55 | 32.65 | 52.21 | 104.32 | 4.60 | 140.84 | 137.11 | 3.76 | 159.31 | 170.5 | 0.11 | 57.14 | 37.5 | 51.37 | 16.43 | 40.82 | 15.59 | -48.77 | -69.49 | 100.51 | 0.51 | 0.51 | -0.51 | -144.62 | 0 | 9.21 | -33.41 | -2.33 |
| 21Q1 (6) | 0.59 | -72.17 | 1575.0 | 49.05 | -17.95 | 149.11 | 28.34 | -43.27 | 6004.17 | 28.54 | -41.79 | 31611.11 | 21.45 | -45.04 | 1259.46 | 1.91 | -72.2 | 1569.23 | 1.45 | -70.35 | 1550.0 | 0.07 | -41.67 | 40.0 | 44.12 | -22.17 | 61.55 | 30.43 | -27.13 | -21.02 | 100.00 | -1.66 | 0 | 1.15 | 156.9 | 0 | 13.83 | 75.73 | -11.97 |
| 20Q4 (5) | 2.12 | 112.0 | 583.87 | 59.78 | 12.07 | 109.98 | 49.96 | 25.18 | 253.82 | 49.03 | 26.4 | 257.36 | 39.03 | 27.76 | 311.28 | 6.87 | 100.88 | 580.2 | 4.89 | 105.46 | 535.06 | 0.12 | 50.0 | 50.0 | 56.69 | 11.86 | 81.0 | 41.76 | -0.17 | 30.58 | 101.68 | -1.1 | -0.31 | -2.02 | 28.28 | -1.01 | 7.87 | -27.33 | -16.81 |
| 20Q3 (4) | 1.00 | 72.41 | 0.0 | 53.34 | 61.29 | 0.0 | 39.91 | 89.96 | 0.0 | 38.79 | 83.75 | 0.0 | 30.55 | 91.18 | 0.0 | 3.42 | 76.29 | 0.0 | 2.38 | 71.22 | 0.0 | 0.08 | 0.0 | 0.0 | 50.68 | 38.93 | 0.0 | 41.83 | -18.12 | 0.0 | 102.82 | 2.82 | 0.0 | -2.82 | 0 | 0.0 | 10.83 | 14.85 | 0.0 |
| 20Q2 (3) | 0.58 | 1550.0 | 0.0 | 33.07 | 67.95 | 0.0 | 21.01 | 4477.08 | 0.0 | 21.11 | 23355.56 | 0.0 | 15.98 | 963.78 | 0.0 | 1.94 | 1592.31 | 0.0 | 1.39 | 1490.0 | 0.0 | 0.08 | 60.0 | 0.0 | 36.48 | 33.58 | 0.0 | 51.09 | 32.6 | 0.0 | 100.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | 9.43 | -39.97 | 0.0 |
| 20Q1 (2) | -0.04 | -112.9 | 0.0 | 19.69 | -30.84 | 0.0 | -0.48 | -103.4 | 0.0 | 0.09 | -99.34 | 0.0 | -1.85 | -119.49 | 0.0 | -0.13 | -112.87 | 0.0 | -0.10 | -112.99 | 0.0 | 0.05 | -37.5 | 0.0 | 27.31 | -12.8 | 0.0 | 38.53 | 20.48 | 0.0 | 0.00 | -100.0 | 0.0 | 0.00 | 100.0 | 0.0 | 15.71 | 66.07 | 0.0 |
| 19Q4 (1) | 0.31 | 0.0 | 0.0 | 28.47 | 0.0 | 0.0 | 14.12 | 0.0 | 0.0 | 13.72 | 0.0 | 0.0 | 9.49 | 0.0 | 0.0 | 1.01 | 0.0 | 0.0 | 0.77 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | 31.32 | 0.0 | 0.0 | 31.98 | 0.0 | 0.0 | 102.00 | 0.0 | 0.0 | -2.00 | 0.0 | 0.0 | 9.46 | 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) | 4.54 | -48.64 | 42.80 | -25.37 | 31.51 | -30.96 | 10.93 | 41.29 | 31.05 | -32.95 | 24.72 | -33.74 | 11.95 | -50.7 | 10.66 | -49.41 | 0.43 | -23.21 | 42.33 | -22.02 | 10.64 | -25.8 | 101.42 | 2.85 | -1.42 | 0 | 0.18 | 190.17 | 11.64 | 31.08 |
| 2022 (9) | 8.84 | 74.02 | 57.35 | 4.92 | 45.64 | 16.1 | 7.73 | -24.14 | 46.31 | 18.44 | 37.31 | 22.45 | 24.24 | 57.61 | 21.07 | 75.29 | 0.56 | 43.59 | 54.28 | 9.15 | 14.34 | -12.56 | 98.61 | -1.93 | 1.47 | 0 | 0.06 | -33.18 | 8.88 | -10.39 |
| 2021 (8) | 5.08 | 38.8 | 54.66 | 20.03 | 39.31 | 19.99 | 10.19 | -20.12 | 39.10 | 21.13 | 30.47 | 21.3 | 15.38 | 32.02 | 12.02 | 38.96 | 0.39 | 14.71 | 49.73 | 8.56 | 16.40 | -60.73 | 100.55 | -0.77 | -0.55 | 0 | 0.09 | -8.54 | 9.91 | -2.17 |
| 2020 (7) | 3.66 | 2.23 | 45.54 | 2.41 | 32.76 | 3.67 | 12.76 | -13.65 | 32.28 | 1.7 | 25.12 | 3.97 | 11.65 | 2.73 | 8.65 | -1.37 | 0.34 | -5.56 | 45.81 | -2.28 | 41.76 | 30.58 | 101.34 | 1.72 | -1.53 | 0 | 0.10 | -25.01 | 10.13 | 13.82 |
| 2019 (6) | 3.58 | -49.65 | 44.47 | -18.15 | 31.60 | -30.1 | 14.78 | 37.36 | 31.74 | -30.58 | 24.16 | -33.95 | 11.34 | -57.5 | 8.77 | -56.78 | 0.36 | -34.55 | 46.88 | -17.57 | 31.98 | 15.41 | 99.62 | 0.75 | 0.38 | -65.93 | 0.13 | -13.34 | 8.90 | 39.72 |
| 2018 (5) | 7.11 | -6.94 | 54.33 | -9.06 | 45.21 | -12.01 | 10.76 | -4.12 | 45.72 | -8.82 | 36.58 | -8.71 | 26.68 | -27.26 | 20.29 | -27.46 | 0.55 | -20.29 | 56.87 | -8.01 | 27.71 | -29.37 | 98.88 | -3.54 | 1.12 | 0 | 0.15 | 0 | 6.37 | 1.11 |
| 2017 (4) | 7.64 | 48.35 | 59.74 | 9.94 | 51.38 | 18.66 | 11.22 | -21.55 | 50.14 | 19.72 | 40.07 | 18.55 | 36.68 | 20.26 | 27.97 | 16.74 | 0.69 | -1.43 | 61.82 | 9.16 | 39.23 | 69.24 | 102.51 | -0.91 | -2.51 | 0 | 0.00 | 0 | 6.30 | -4.4 |
| 2016 (3) | 5.15 | 128.89 | 54.34 | 33.45 | 43.30 | 45.2 | 14.30 | 4.45 | 41.88 | 49.84 | 33.80 | 51.1 | 30.50 | 66.58 | 23.96 | 74.51 | 0.70 | 14.75 | 56.63 | 33.66 | 23.18 | -32.91 | 103.45 | -2.99 | -3.45 | 0 | 0.00 | 0 | 6.59 | -5.32 |
| 2015 (2) | 2.25 | -22.15 | 40.72 | 3.72 | 29.82 | 1.64 | 13.69 | 24.46 | 27.95 | -6.83 | 22.37 | -10.27 | 18.31 | -24.49 | 13.73 | -21.0 | 0.61 | -11.59 | 42.37 | 1.12 | 34.55 | -2.37 | 106.63 | 9.05 | -6.63 | 0 | 0.00 | 0 | 6.96 | 20.83 |
| 2014 (1) | 2.89 | 416.07 | 39.26 | 0 | 29.34 | 0 | 11.00 | -24.56 | 30.00 | 0 | 24.93 | 0 | 24.25 | 0 | 17.38 | 0 | 0.69 | 0 | 41.90 | 78.3 | 35.39 | -28.0 | 97.78 | 6.47 | 2.22 | -72.83 | 0.00 | 0 | 5.76 | -24.41 |
