- 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) | 0.92 | -15.6 | -36.55 | 43.67 | 6.8 | -1.24 | 20.30 | 19.41 | -15.66 | 18.23 | -14.85 | -22.56 | 14.12 | -20.14 | -24.49 | 2.79 | -22.71 | -41.75 | 1.99 | -16.39 | -38.77 | 0.14 | 7.69 | -17.65 | 22.79 | -11.46 | -15.15 | 42.49 | -11.35 | -15.39 | 112.00 | 41.22 | 9.33 | -12.00 | -158.0 | -392.0 | 58.23 | -1.9 | 8.33 |
| 24Q2 (19) | 1.09 | -20.44 | -23.24 | 40.89 | -5.3 | -3.2 | 17.00 | 8.63 | 10.61 | 21.41 | -7.91 | -13.18 | 17.68 | -14.42 | -16.84 | 3.61 | -17.95 | -31.37 | 2.38 | -16.78 | -30.61 | 0.13 | -7.14 | -18.75 | 25.74 | -4.13 | -9.91 | 47.93 | -28.11 | -5.82 | 79.31 | 20.69 | 26.9 | 20.69 | -34.17 | -44.83 | 59.36 | -9.08 | -12.89 |
| 24Q1 (18) | 1.37 | -20.81 | -7.43 | 43.18 | -3.38 | -0.14 | 15.65 | -35.6 | -1.45 | 23.25 | -18.31 | -13.47 | 20.66 | -11.9 | -14.7 | 4.40 | -26.42 | -22.4 | 2.86 | -29.9 | -22.91 | 0.14 | -17.65 | -6.67 | 26.85 | -16.28 | -11.44 | 66.67 | 40.21 | 5.09 | 65.71 | -24.06 | 10.4 | 31.43 | 104.29 | -22.35 | 65.29 | 34.73 | -0.27 |
| 23Q4 (17) | 1.73 | 19.31 | -0.57 | 44.69 | 1.06 | -16.4 | 24.30 | 0.96 | -16.87 | 28.46 | 20.9 | -11.83 | 23.45 | 25.4 | -11.07 | 5.98 | 24.84 | 4.91 | 4.08 | 25.54 | 5.15 | 0.17 | 0.0 | 21.43 | 32.07 | 19.4 | -12.26 | 47.55 | -5.32 | -1.63 | 86.54 | -15.52 | -3.16 | 15.38 | 730.77 | 80.77 | 48.46 | -9.84 | -9.3 |
| 23Q3 (16) | 1.45 | 2.11 | 22.88 | 44.22 | 4.69 | -7.41 | 24.07 | 56.6 | 19.22 | 23.54 | -4.54 | -4.81 | 18.70 | -12.04 | -9.4 | 4.79 | -8.94 | -1.03 | 3.25 | -5.25 | 2.52 | 0.17 | 6.25 | 13.33 | 26.86 | -5.99 | -9.1 | 50.22 | -1.32 | -0.65 | 102.44 | 63.9 | 25.2 | -2.44 | -106.5 | -113.41 | 53.75 | -21.12 | -18.29 |
| 23Q2 (15) | 1.42 | -4.05 | 59.55 | 42.24 | -2.31 | -16.01 | 15.37 | -3.21 | -41.91 | 24.66 | -8.22 | 21.96 | 21.26 | -12.22 | 46.22 | 5.26 | -7.23 | 31.17 | 3.43 | -7.55 | 38.87 | 0.16 | 6.67 | -5.88 | 28.57 | -5.77 | 17.96 | 50.89 | -19.78 | -24.36 | 62.50 | 5.0 | -52.21 | 37.50 | -7.35 | 221.88 | 68.14 | 4.08 | 31.04 |
| 23Q1 (14) | 1.48 | -14.94 | 43.69 | 43.24 | -19.12 | -7.71 | 15.88 | -45.67 | -9.52 | 26.87 | -16.76 | 15.12 | 24.22 | -8.15 | 23.32 | 5.67 | -0.53 | 20.64 | 3.71 | -4.38 | 17.03 | 0.15 | 7.14 | -6.25 | 30.32 | -17.05 | 9.89 | 63.44 | 31.24 | 1.99 | 59.52 | -33.39 | -19.64 | 40.48 | 375.6 | 56.12 | 65.47 | 22.53 | 1.07 |
| 22Q4 (13) | 1.74 | 47.46 | 12.26 | 53.46 | 11.93 | 14.35 | 29.23 | 44.77 | 48.15 | 32.28 | 30.53 | 9.28 | 26.37 | 27.76 | 3.49 | 5.70 | 17.77 | -14.93 | 3.88 | 22.4 | -20.16 | 0.14 | -6.67 | -26.32 | 36.55 | 23.69 | 11.37 | 48.34 | -4.37 | 24.52 | 89.36 | 9.22 | 34.04 | 8.51 | -53.19 | -74.47 | 53.43 | -18.77 | 16.58 |
| 22Q3 (12) | 1.18 | 32.58 | 10.28 | 47.76 | -5.03 | 1.53 | 20.19 | -23.7 | -1.08 | 24.73 | 22.3 | 6.0 | 20.64 | 41.95 | 7.72 | 4.84 | 20.7 | -2.81 | 3.17 | 28.34 | -12.67 | 0.15 | -11.76 | -21.05 | 29.55 | 22.01 | 9.24 | 50.55 | -24.87 | 31.2 | 81.82 | -37.43 | -8.36 | 18.18 | 159.09 | 27.27 | 65.78 | 26.5 | 17.25 |
| 22Q2 (11) | 0.89 | -13.59 | 1.14 | 50.29 | 7.34 | 2.72 | 26.46 | 50.77 | 14.2 | 20.22 | -13.37 | -10.29 | 14.54 | -25.97 | -17.2 | 4.01 | -14.68 | -7.6 | 2.47 | -22.08 | -18.48 | 0.17 | 6.25 | 0.0 | 24.22 | -12.21 | -8.12 | 67.28 | 8.17 | 77.15 | 130.77 | 76.54 | 25.74 | -30.77 | -218.68 | -669.23 | 52.00 | -19.73 | -12.09 |
| 22Q1 (10) | 1.03 | -33.55 | -9.65 | 46.85 | 0.21 | 10.73 | 17.55 | -11.05 | 45.52 | 23.34 | -20.99 | -10.2 | 19.64 | -22.92 | -19.31 | 4.70 | -29.85 | -12.31 | 3.17 | -34.77 | -16.14 | 0.16 | -15.79 | 6.67 | 27.59 | -15.94 | -10.1 | 62.20 | 60.23 | 20.71 | 74.07 | 11.11 | 60.49 | 25.93 | -22.22 | -51.85 | 64.78 | 41.35 | -3.4 |
| 21Q4 (9) | 1.55 | 44.86 | 9.15 | 46.75 | -0.62 | -10.22 | 19.73 | -3.33 | -38.27 | 29.54 | 26.62 | -9.36 | 25.48 | 32.99 | -2.08 | 6.70 | 34.54 | 10.74 | 4.86 | 33.88 | 8.48 | 0.19 | 0.0 | 11.76 | 32.82 | 21.33 | -10.57 | 38.82 | 0.75 | 13.21 | 66.67 | -25.33 | -33.33 | 33.33 | 133.33 | 1066.67 | 45.83 | -18.31 | 9.93 |
| 21Q3 (8) | 1.07 | 21.59 | 11.46 | 47.04 | -3.92 | 24.87 | 20.41 | -11.91 | 9.97 | 23.33 | 3.5 | 18.67 | 19.16 | 9.11 | 17.26 | 4.98 | 14.75 | 11.66 | 3.63 | 19.8 | 17.86 | 0.19 | 11.76 | 0.0 | 27.05 | 2.62 | 12.19 | 38.53 | 1.45 | 3.33 | 89.29 | -14.15 | -6.46 | 14.29 | 457.14 | 214.29 | 56.10 | -5.16 | 1.34 |
| 21Q2 (7) | 0.88 | -22.81 | -3.3 | 48.96 | 15.72 | -1.88 | 23.17 | 92.12 | 10.76 | 22.54 | -13.27 | 4.06 | 17.56 | -27.86 | -3.99 | 4.34 | -19.03 | -7.07 | 3.03 | -19.84 | -5.31 | 0.17 | 13.33 | 0.0 | 26.36 | -14.11 | -0.64 | 37.98 | -26.3 | -32.08 | 104.00 | 125.33 | 9.2 | -4.00 | -107.43 | -184.0 | 59.15 | -11.8 | 0 |
| 21Q1 (6) | 1.14 | -19.72 | 40.74 | 42.31 | -18.74 | -12.22 | 12.06 | -62.27 | -41.51 | 25.99 | -20.25 | 24.35 | 24.34 | -6.46 | 39.24 | 5.36 | -11.4 | 33.0 | 3.78 | -15.63 | 29.9 | 0.15 | -11.76 | -11.76 | 30.69 | -16.38 | 18.77 | 51.53 | 50.28 | 31.59 | 46.15 | -53.85 | -51.28 | 53.85 | 1784.62 | 0 | 67.06 | 60.85 | 5.09 |
| 20Q4 (5) | 1.42 | 47.92 | -8.97 | 52.07 | 38.23 | 12.22 | 31.96 | 72.2 | 32.89 | 32.59 | 65.77 | 34.73 | 26.02 | 59.24 | 32.76 | 6.05 | 35.65 | -24.75 | 4.48 | 45.45 | -20.71 | 0.17 | -10.53 | -41.38 | 36.70 | 52.22 | 30.93 | 34.29 | -8.05 | -14.23 | 100.00 | 4.76 | 0.0 | 2.86 | -37.14 | 0 | 41.69 | -24.69 | 114.9 |
| 20Q3 (4) | 0.96 | 5.49 | 0.0 | 37.67 | -24.51 | 0.0 | 18.56 | -11.28 | 0.0 | 19.66 | -9.23 | 0.0 | 16.34 | -10.66 | 0.0 | 4.46 | -4.5 | 0.0 | 3.08 | -3.75 | 0.0 | 0.19 | 11.76 | 0.0 | 24.11 | -9.12 | 0.0 | 37.29 | -33.32 | 0.0 | 95.45 | 0.23 | 0.0 | 4.55 | -4.55 | 0.0 | 55.36 | 0 | 0.0 |
| 20Q2 (3) | 0.91 | 12.35 | 0.0 | 49.90 | 3.53 | 0.0 | 20.92 | 1.45 | 0.0 | 21.66 | 3.64 | 0.0 | 18.29 | 4.63 | 0.0 | 4.67 | 15.88 | 0.0 | 3.20 | 9.97 | 0.0 | 0.17 | 0.0 | 0.0 | 26.53 | 2.67 | 0.0 | 55.92 | 42.8 | 0.0 | 95.24 | 0.53 | 0.0 | 4.76 | 0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.81 | -48.08 | 0.0 | 48.20 | 3.88 | 0.0 | 20.62 | -14.26 | 0.0 | 20.90 | -13.6 | 0.0 | 17.48 | -10.82 | 0.0 | 4.03 | -49.88 | 0.0 | 2.91 | -48.5 | 0.0 | 0.17 | -41.38 | 0.0 | 25.84 | -7.81 | 0.0 | 39.16 | -2.05 | 0.0 | 94.74 | -5.26 | 0.0 | 0.00 | 0 | 0.0 | 63.81 | 228.92 | 0.0 |
| 19Q4 (1) | 1.56 | 0.0 | 0.0 | 46.40 | 0.0 | 0.0 | 24.05 | 0.0 | 0.0 | 24.19 | 0.0 | 0.0 | 19.60 | 0.0 | 0.0 | 8.04 | 0.0 | 0.0 | 5.65 | 0.0 | 0.0 | 0.29 | 0.0 | 0.0 | 28.03 | 0.0 | 0.0 | 39.98 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 19.40 | 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) | 6.08 | 28.27 | 43.65 | -12.3 | 20.18 | -14.71 | 2.37 | -22.93 | 25.91 | 1.93 | 21.87 | 6.58 | 20.59 | 16.2 | 14.18 | 13.26 | 0.64 | 6.67 | 29.44 | -0.41 | 47.55 | -1.63 | 77.71 | -16.6 | 22.29 | 226.86 | 1.55 | -0.99 | 58.43 | -0.51 |
| 2022 (9) | 4.74 | 2.16 | 49.77 | 7.31 | 23.66 | 24.2 | 3.07 | 18.75 | 25.42 | -0.2 | 20.52 | -5.39 | 17.72 | -12.28 | 12.52 | -15.86 | 0.60 | -11.76 | 29.56 | 0.85 | 48.34 | 24.52 | 93.18 | 24.95 | 6.82 | -73.18 | 1.56 | -44.2 | 58.73 | 4.28 |
| 2021 (8) | 4.64 | 13.45 | 46.38 | -0.77 | 19.05 | -17.68 | 2.59 | -18.83 | 25.47 | 6.79 | 21.69 | 10.49 | 20.20 | 8.6 | 14.88 | 8.61 | 0.68 | -1.45 | 29.31 | 3.1 | 38.82 | 13.21 | 74.58 | -23.04 | 25.42 | 722.03 | 2.80 | -24.59 | 56.32 | 3.45 |
| 2020 (7) | 4.09 | 47.12 | 46.74 | 24.81 | 23.14 | 67.56 | 3.19 | 112.95 | 23.85 | 69.39 | 19.63 | 75.9 | 18.60 | 34.78 | 13.70 | 47.0 | 0.69 | -15.85 | 28.43 | 56.21 | 34.29 | -14.23 | 96.91 | -1.33 | 3.09 | 73.2 | 3.71 | -31.95 | 54.44 | 20.87 |
| 2019 (6) | 2.78 | 36.95 | 37.45 | 14.74 | 13.81 | 41.93 | 1.50 | 29.8 | 14.08 | 41.08 | 11.16 | 40.2 | 13.80 | 21.69 | 9.32 | 32.01 | 0.82 | -3.53 | 18.20 | 40.32 | 39.98 | -40.69 | 98.21 | 1.1 | 1.79 | -37.5 | 5.45 | -27.85 | 45.04 | -0.9 |
| 2018 (5) | 2.03 | 53.79 | 32.64 | -5.42 | 9.73 | 6.57 | 1.15 | -33.37 | 9.98 | 22.91 | 7.96 | 25.55 | 11.34 | 33.25 | 7.06 | 23.21 | 0.85 | -1.16 | 12.97 | 10.29 | 67.41 | -0.66 | 97.14 | -14.07 | 2.86 | 0 | 7.56 | 0 | 45.45 | -16.54 |
| 2017 (4) | 1.32 | 0 | 34.51 | -23.5 | 9.13 | -32.72 | 1.73 | -13.49 | 8.12 | -42.49 | 6.34 | -45.95 | 8.51 | -33.52 | 5.73 | -33.6 | 0.86 | 19.44 | 11.76 | -34.67 | 67.86 | 60.05 | 113.04 | 17.23 | -13.04 | 0 | 0.00 | 0 | 54.46 | 1.32 |
| 2016 (3) | 0.00 | 0 | 45.11 | 34.38 | 13.57 | 24.84 | 2.00 | 13.0 | 14.12 | 24.62 | 11.73 | 24.92 | 12.80 | -18.73 | 8.63 | -3.9 | 0.72 | -20.88 | 18.00 | 19.68 | 42.40 | -34.89 | 96.43 | 0.29 | 3.57 | -7.14 | 0.00 | 0 | 53.75 | 30.52 |
| 2015 (2) | 2.49 | 141.75 | 33.57 | 10.72 | 10.87 | 167.08 | 1.77 | -7.52 | 11.33 | 134.58 | 9.39 | 130.15 | 15.75 | 105.61 | 8.98 | 119.56 | 0.91 | 7.06 | 15.04 | 65.46 | 65.12 | -42.16 | 96.15 | 20.19 | 3.85 | -80.77 | 0.00 | 0 | 41.18 | 0.86 |
| 2014 (1) | 1.03 | 14.44 | 30.32 | 0 | 4.07 | 0 | 1.91 | 5.26 | 4.83 | 0 | 4.08 | 0 | 7.66 | 0 | 4.09 | 0 | 0.85 | 0 | 9.09 | 33.28 | 112.59 | -14.16 | 80.00 | 20.0 | 20.00 | -40.0 | 0.00 | 0 | 40.83 | 27.83 |
