- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q1 (20) | 5.34 | 39.43 | 97.78 | 35.77 | 11.19 | 14.91 | 21.10 | 30.57 | 31.88 | 24.30 | 58.82 | 66.1 | 18.26 | 40.79 | 85.01 | 4.94 | 31.38 | 77.06 | 2.98 | 27.35 | 87.42 | 0.15 | 0.0 | 15.38 | 38.67 | 25.11 | 23.78 | 76.83 | -6.74 | -25.27 | 86.85 | -17.79 | -20.49 | 13.15 | 332.67 | 240.02 | 18.05 | 20.49 | 19.69 |
| 23Q4 (19) | 3.83 | 2.13 | 84.13 | 32.17 | -0.59 | 0.03 | 16.16 | -2.47 | -0.43 | 15.30 | -10.99 | 36.12 | 12.97 | -4.84 | 60.92 | 3.76 | -0.27 | 64.19 | 2.34 | 7.34 | 85.71 | 0.15 | 7.14 | 15.38 | 30.91 | -5.01 | 10.59 | 82.38 | -12.45 | -30.1 | 105.65 | 9.7 | -26.8 | -5.65 | -258.41 | 87.25 | 14.98 | -7.59 | -2.41 |
| 23Q3 (18) | 3.75 | -6.25 | 16.46 | 32.36 | 3.65 | 13.54 | 16.57 | 15.23 | 44.46 | 17.19 | -23.05 | -2.88 | 13.63 | -3.67 | 14.63 | 3.77 | -2.08 | 7.41 | 2.18 | -0.46 | 26.01 | 0.14 | 0.0 | 7.69 | 32.54 | -15.72 | -3.96 | 94.09 | -3.78 | -25.15 | 96.31 | 49.67 | 48.45 | 3.57 | -90.0 | -89.88 | 16.21 | -2.0 | -10.44 |
| 23Q2 (17) | 4.00 | 48.15 | 45.99 | 31.22 | 0.29 | -0.54 | 14.38 | -10.12 | 3.83 | 22.34 | 52.7 | 67.97 | 14.15 | 43.36 | 30.29 | 3.85 | 37.99 | 28.76 | 2.19 | 37.74 | 47.97 | 0.14 | 7.69 | 16.67 | 38.61 | 23.59 | 26.55 | 97.79 | -4.88 | -22.36 | 64.34 | -41.1 | -38.12 | 35.66 | 479.77 | 957.31 | 16.54 | 9.68 | -4.67 |
| 23Q1 (16) | 2.70 | 29.81 | -4.26 | 31.13 | -3.2 | 18.5 | 16.00 | -1.42 | 87.35 | 14.63 | 30.16 | 9.34 | 9.87 | 22.46 | -13.95 | 2.79 | 21.83 | -10.0 | 1.59 | 26.19 | 1.92 | 0.13 | 0.0 | 8.33 | 31.24 | 11.77 | 0.35 | 102.81 | -12.76 | -13.16 | 109.24 | -24.31 | 70.85 | -9.39 | 78.82 | -126.04 | 15.08 | -1.76 | -10.45 |
| 22Q4 (15) | 2.08 | -35.4 | 6.67 | 32.16 | 12.84 | 13.8 | 16.23 | 41.5 | 52.39 | 11.24 | -36.5 | 10.85 | 8.06 | -32.21 | -1.95 | 2.29 | -34.76 | -1.72 | 1.26 | -27.17 | 5.0 | 0.13 | 0.0 | 0.0 | 27.95 | -17.5 | -0.39 | 117.85 | -6.25 | 2.67 | 144.33 | 122.48 | 37.38 | -44.33 | -225.77 | -776.12 | 15.35 | -15.19 | -6.74 |
| 22Q3 (14) | 3.22 | 17.52 | 78.89 | 28.50 | -9.21 | -0.77 | 11.47 | -17.18 | 0.26 | 17.70 | 33.08 | 89.1 | 11.89 | 9.48 | 58.96 | 3.51 | 17.39 | 67.94 | 1.73 | 16.89 | 57.27 | 0.13 | 8.33 | 0.0 | 33.88 | 11.05 | 22.44 | 125.70 | -0.21 | 7.95 | 64.88 | -37.61 | -46.96 | 35.25 | 947.53 | 257.99 | 18.10 | 4.32 | 6.41 |
| 22Q2 (13) | 2.74 | -2.84 | 98.55 | 31.39 | 19.49 | 13.36 | 13.85 | 62.18 | 43.23 | 13.30 | -0.6 | 87.32 | 10.86 | -5.32 | 96.03 | 2.99 | -3.55 | 92.9 | 1.48 | -5.13 | 70.11 | 0.12 | 0.0 | -7.69 | 30.51 | -1.99 | 19.23 | 125.96 | 6.39 | 9.9 | 103.98 | 62.62 | -23.71 | -4.16 | -111.53 | 88.54 | 17.35 | 3.03 | 3.58 |
| 22Q1 (12) | 2.82 | 44.62 | 63.95 | 26.27 | -7.04 | 4.62 | 8.54 | -19.81 | -22.57 | 13.38 | 31.95 | 49.16 | 11.47 | 39.54 | 68.68 | 3.10 | 33.05 | 54.23 | 1.56 | 30.0 | 47.17 | 0.12 | -7.69 | -7.69 | 31.13 | 10.94 | 15.08 | 118.39 | 3.14 | 0.7 | 63.94 | -39.14 | -48.06 | 36.06 | 812.6 | 256.12 | 16.84 | 2.31 | 8.93 |
| 21Q4 (11) | 1.95 | 8.33 | 46.62 | 28.26 | -1.6 | 5.09 | 10.65 | -6.91 | 15.26 | 10.14 | 8.33 | 14.45 | 8.22 | 9.89 | 55.39 | 2.33 | 11.48 | 54.3 | 1.20 | 9.09 | 46.34 | 0.13 | 0.0 | 0.0 | 28.06 | 1.41 | -0.14 | 114.79 | -1.42 | -5.44 | 105.06 | -14.1 | 0.68 | -5.06 | 77.32 | -16.39 | 16.46 | -3.23 | -0.24 |
| 21Q3 (10) | 1.80 | 30.43 | 25.87 | 28.72 | 3.72 | 23.85 | 11.44 | 18.3 | 64.84 | 9.36 | 31.83 | 23.16 | 7.48 | 35.02 | 26.14 | 2.09 | 34.84 | 22.94 | 1.10 | 26.44 | 27.91 | 0.13 | 0.0 | 8.33 | 27.67 | 8.13 | 1.1 | 116.44 | 1.6 | -13.72 | 122.31 | -10.26 | 33.81 | -22.31 | 38.53 | -359.71 | 17.01 | 1.55 | 19.12 |
| 21Q2 (9) | 1.38 | -19.77 | 381.63 | 27.69 | 10.27 | 59.23 | 9.67 | -12.33 | 576.22 | 7.10 | -20.85 | 256.39 | 5.54 | -18.53 | 272.59 | 1.55 | -22.89 | 342.19 | 0.87 | -17.92 | 1840.0 | 0.13 | 0.0 | 62.5 | 25.59 | -5.4 | 3.81 | 114.61 | -2.52 | -18.79 | 136.30 | 10.72 | 537.59 | -36.30 | -57.15 | -127.68 | 16.75 | 8.34 | -10.24 |
| 21Q1 (8) | 1.72 | 29.32 | 32.31 | 25.11 | -6.62 | -8.06 | 11.03 | 19.37 | 16.97 | 8.97 | 1.24 | 33.09 | 6.80 | 28.54 | 27.58 | 2.01 | 33.11 | 32.24 | 1.06 | 29.27 | 23.26 | 0.13 | 0.0 | 8.33 | 27.05 | -3.74 | -1.53 | 117.57 | -3.15 | -16.5 | 123.10 | 17.97 | -11.83 | -23.10 | -431.25 | 42.26 | 15.46 | -6.3 | 0 |
| 20Q4 (7) | 1.33 | -6.99 | 280.0 | 26.89 | 15.96 | 17.47 | 9.24 | 33.14 | 52.22 | 8.86 | 16.58 | 1184.06 | 5.29 | -10.79 | 423.76 | 1.51 | -11.18 | 403.33 | 0.82 | -4.65 | 121.62 | 0.13 | 8.33 | 8.33 | 28.10 | 2.67 | 35.68 | 121.39 | -10.05 | -14.81 | 104.35 | 14.15 | -88.07 | -4.35 | -150.61 | 99.44 | 16.50 | 15.55 | 0 |
| 20Q3 (6) | 1.43 | 391.84 | 169.81 | 23.19 | 33.35 | -10.81 | 6.94 | 385.31 | -10.34 | 7.60 | 267.4 | 202.79 | 5.93 | 284.74 | 183.73 | 1.70 | 365.62 | 188.14 | 0.86 | 1820.0 | 75.51 | 0.12 | 50.0 | 9.09 | 27.37 | 11.03 | 12.77 | 134.96 | -4.37 | -7.27 | 91.41 | 393.47 | -70.16 | 8.59 | -93.45 | 104.16 | 14.28 | -23.47 | -10.92 |
| 20Q2 (5) | -0.49 | -137.69 | -169.01 | 17.39 | -36.32 | -30.02 | 1.43 | -84.84 | -76.48 | -4.54 | -167.36 | -215.23 | -3.21 | -160.23 | -203.55 | -0.64 | -142.11 | -175.29 | -0.05 | -105.81 | -108.47 | 0.08 | -33.33 | -27.27 | 24.65 | -10.27 | -6.56 | 141.13 | 0.23 | -6.32 | -31.15 | -122.31 | -120.16 | 131.15 | 427.87 | 340.71 | 18.66 | 0 | 6.32 |
| 20Q1 (4) | 1.30 | 271.43 | 0.0 | 27.31 | 19.31 | 0.0 | 9.43 | 55.35 | 0.0 | 6.74 | 876.81 | 0.0 | 5.33 | 427.72 | 0.0 | 1.52 | 406.67 | 0.0 | 0.86 | 132.43 | 0.0 | 0.12 | 0.0 | 0.0 | 27.47 | 32.64 | 0.0 | 140.81 | -1.19 | 0.0 | 139.62 | -84.04 | 0.0 | -40.00 | 94.84 | 0.0 | 0.00 | 0 | 0.0 |
| 19Q4 (3) | 0.35 | -33.96 | 0.0 | 22.89 | -11.96 | 0.0 | 6.07 | -21.58 | 0.0 | 0.69 | -72.51 | 0.0 | 1.01 | -51.67 | 0.0 | 0.30 | -49.15 | 0.0 | 0.37 | -24.49 | 0.0 | 0.12 | 9.09 | 0.0 | 20.71 | -14.67 | 0.0 | 142.50 | -2.09 | 0.0 | 875.00 | 185.65 | 0.0 | -775.00 | -275.64 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (2) | 0.53 | -25.35 | 0.0 | 26.00 | 4.63 | 0.0 | 7.74 | 27.3 | 0.0 | 2.51 | -36.29 | 0.0 | 2.09 | -32.58 | 0.0 | 0.59 | -30.59 | 0.0 | 0.49 | -16.95 | 0.0 | 0.11 | 0.0 | 0.0 | 24.27 | -8.0 | 0.0 | 145.54 | -3.39 | 0.0 | 306.32 | 98.28 | 0.0 | -206.32 | -278.68 | 0.0 | 16.03 | -8.66 | 0.0 |
| 19Q2 (1) | 0.71 | 0.0 | 0.0 | 24.85 | 0.0 | 0.0 | 6.08 | 0.0 | 0.0 | 3.94 | 0.0 | 0.0 | 3.10 | 0.0 | 0.0 | 0.85 | 0.0 | 0.0 | 0.59 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 26.38 | 0.0 | 0.0 | 150.65 | 0.0 | 0.0 | 154.48 | 0.0 | 0.0 | -54.48 | 0.0 | 0.0 | 17.55 | 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) | 14.29 | 31.58 | 31.73 | 7.09 | 15.80 | 25.4 | 13.34 | -11.55 | 17.28 | 23.96 | 12.65 | 20.02 | 14.03 | 18.5 | 8.16 | 32.25 | 0.56 | 7.69 | 33.23 | 7.64 | 82.38 | -30.1 | 91.42 | 1.14 | 8.61 | -10.39 | 0.24 | 38.16 | 15.68 | -7.27 |
| 2022 (9) | 10.86 | 58.54 | 29.63 | 8.02 | 12.60 | 17.76 | 15.08 | -9.53 | 13.94 | 56.63 | 10.54 | 50.14 | 11.84 | 48.37 | 6.17 | 46.9 | 0.52 | 0.0 | 30.87 | 13.91 | 117.85 | 2.67 | 90.39 | -24.79 | 9.61 | 0 | 0.17 | 8.38 | 16.91 | 3.05 |
| 2021 (8) | 6.85 | 92.42 | 27.43 | 13.25 | 10.70 | 48.61 | 16.67 | -13.72 | 8.90 | 63.9 | 7.02 | 81.4 | 7.98 | 96.07 | 4.20 | 66.67 | 0.52 | 15.56 | 27.10 | 0.07 | 114.79 | -5.44 | 120.19 | -9.41 | -20.19 | 0 | 0.16 | -35.38 | 16.41 | 2.95 |
| 2020 (7) | 3.56 | -8.48 | 24.22 | -4.72 | 7.20 | -7.93 | 19.32 | 7.53 | 5.43 | 13.6 | 3.87 | -1.78 | 4.07 | -11.9 | 2.52 | -13.4 | 0.45 | -6.25 | 27.08 | 5.58 | 121.39 | -14.81 | 132.69 | -18.91 | -32.69 | 0 | 0.25 | 8.03 | 15.94 | -0.87 |
| 2019 (6) | 3.89 | -31.27 | 25.42 | -0.04 | 7.82 | -12.82 | 17.97 | 12.57 | 4.78 | -38.56 | 3.94 | -32.07 | 4.62 | -36.36 | 2.91 | -26.33 | 0.48 | -7.69 | 25.65 | -2.06 | 142.50 | -1.31 | 163.62 | 42.0 | -63.62 | 0 | 0.23 | -14.5 | 16.08 | 8.87 |
| 2018 (5) | 5.66 | -6.29 | 25.43 | -2.9 | 8.97 | -18.45 | 15.96 | 6.8 | 7.78 | -8.04 | 5.80 | -6.45 | 7.26 | -9.7 | 3.95 | -7.06 | 0.52 | -7.14 | 26.19 | 3.72 | 144.39 | 4.19 | 115.23 | -11.48 | -15.23 | 0 | 0.27 | 101.67 | 14.77 | 7.03 |
| 2017 (4) | 6.04 | -15.99 | 26.19 | -4.62 | 11.00 | -5.25 | 14.94 | 2.49 | 8.46 | -18.5 | 6.20 | -17.55 | 8.04 | -20.32 | 4.25 | -15.67 | 0.56 | -3.45 | 25.25 | -4.39 | 138.59 | 8.54 | 130.18 | 16.33 | -30.10 | 0 | 0.13 | 0 | 13.80 | 0.36 |
| 2016 (3) | 7.19 | -23.92 | 27.46 | -5.8 | 11.61 | -10.42 | 14.58 | 2.63 | 10.38 | -19.66 | 7.52 | -26.92 | 10.09 | -29.29 | 5.04 | -24.78 | 0.58 | -3.33 | 26.41 | -7.11 | 127.68 | -3.44 | 111.90 | 11.56 | -11.90 | 0 | 0.00 | 0 | 13.75 | -2.62 |
| 2015 (2) | 9.45 | -6.16 | 29.15 | 1.75 | 12.96 | -0.99 | 14.21 | 2.82 | 12.92 | -9.01 | 10.29 | -8.61 | 14.27 | -15.11 | 6.70 | -11.96 | 0.60 | -4.76 | 28.43 | -2.34 | 132.23 | -0.98 | 100.31 | 8.85 | -0.31 | 0 | 0.00 | 0 | 14.12 | 4.21 |
| 2014 (1) | 10.07 | 24.94 | 28.65 | 0 | 13.09 | 0 | 13.82 | -7.79 | 14.20 | 0 | 11.26 | 0 | 16.81 | 0 | 7.61 | 0 | 0.63 | -4.55 | 29.11 | 3.01 | 133.54 | -3.87 | 92.15 | -3.41 | 7.85 | 70.9 | 0.00 | 0 | 13.55 | -3.42 |
