- 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) | 6.07 | 199.01 | 72.44 | 37.73 | 58.86 | 71.97 | 26.13 | 142.84 | 101.46 | 27.07 | 124.65 | 80.83 | 19.76 | 164.52 | 79.47 | 10.20 | 177.17 | 55.96 | 5.19 | 201.74 | 91.51 | 0.26 | 13.04 | 8.33 | 28.41 | 109.36 | 72.29 | 85.03 | -24.4 | -36.54 | 96.51 | 7.86 | 11.3 | 3.49 | -66.8 | -73.72 | 12.00 | -11.44 | -14.35 |
| 24Q2 (19) | 2.03 | -38.11 | -60.81 | 23.75 | -1.53 | -9.21 | 10.76 | -25.48 | -45.55 | 12.05 | -28.02 | -42.54 | 7.47 | -38.92 | -52.27 | 3.68 | -37.41 | -67.26 | 1.72 | -36.53 | -58.95 | 0.23 | 4.55 | -11.54 | 13.57 | -26.01 | -39.37 | 112.48 | -9.98 | -30.19 | 89.47 | 3.83 | -5.04 | 10.53 | -23.89 | 82.11 | 13.55 | -6.1 | 18.03 |
| 24Q1 (18) | 3.28 | -32.23 | 111.61 | 24.12 | -19.06 | 8.6 | 14.44 | -23.44 | 33.83 | 16.74 | -14.29 | 60.04 | 12.23 | -10.34 | 42.71 | 5.88 | -26.13 | 44.83 | 2.71 | -24.51 | 75.97 | 0.22 | -15.38 | 29.41 | 18.34 | -12.37 | 45.09 | 124.95 | 7.1 | -31.79 | 86.17 | -10.76 | -16.38 | 13.83 | 302.6 | 553.62 | 14.43 | 31.3 | -4.44 |
| 23Q4 (17) | 4.84 | 37.5 | 89.8 | 29.80 | 35.82 | 24.37 | 18.86 | 45.41 | 42.23 | 19.53 | 30.46 | 71.92 | 13.64 | 23.89 | 71.36 | 7.96 | 21.71 | 34.01 | 3.59 | 32.47 | 54.08 | 0.26 | 8.33 | -10.34 | 20.93 | 26.93 | 67.71 | 116.67 | -12.92 | -29.77 | 96.56 | 11.37 | -17.27 | 3.44 | -74.17 | 120.54 | 10.99 | -21.56 | 2.04 |
| 23Q3 (16) | 3.52 | -32.05 | -9.28 | 21.94 | -16.13 | 16.45 | 12.97 | -34.36 | 2.94 | 14.97 | -28.61 | -3.48 | 11.01 | -29.65 | -8.02 | 6.54 | -41.81 | -31.52 | 2.71 | -35.32 | -28.12 | 0.24 | -7.69 | -22.58 | 16.49 | -26.32 | -0.06 | 133.98 | -16.85 | -9.51 | 86.70 | -7.98 | 6.54 | 13.30 | 130.03 | -29.57 | 14.01 | 22.04 | 30.45 |
| 23Q2 (15) | 5.18 | 234.19 | -4.6 | 26.16 | 17.78 | 13.89 | 19.76 | 83.13 | 32.62 | 20.97 | 100.48 | 28.57 | 15.65 | 82.61 | 28.7 | 11.24 | 176.85 | 45.97 | 4.19 | 172.08 | 37.38 | 0.26 | 52.94 | 4.0 | 22.38 | 77.06 | 27.81 | 161.13 | -12.04 | -0.45 | 94.22 | -8.57 | 3.4 | 5.78 | 289.6 | -32.41 | 11.48 | -23.97 | -8.38 |
| 23Q1 (14) | 1.55 | -39.22 | -70.02 | 22.21 | -7.3 | -9.86 | 10.79 | -18.63 | -28.11 | 10.46 | -7.92 | -42.18 | 8.57 | 7.66 | -36.24 | 4.06 | -31.65 | -47.14 | 1.54 | -33.91 | -53.61 | 0.17 | -41.38 | -32.0 | 12.64 | 1.28 | -34.74 | 183.19 | 10.28 | 27.95 | 103.05 | -11.72 | 24.31 | -3.05 | 81.77 | -117.82 | 15.10 | 40.2 | 20.32 |
| 22Q4 (13) | 2.55 | -34.28 | -60.28 | 23.96 | 27.18 | -0.54 | 13.26 | 5.24 | -13.05 | 11.36 | -26.76 | -27.87 | 7.96 | -33.5 | -31.85 | 5.94 | -37.8 | -33.48 | 2.33 | -38.2 | -42.04 | 0.29 | -6.45 | -14.71 | 12.48 | -24.36 | -27.69 | 166.12 | 12.2 | 37.33 | 116.72 | 43.44 | 20.59 | -16.72 | -188.6 | -621.51 | 10.77 | 0.28 | 13.01 |
| 22Q3 (12) | 3.88 | -28.55 | -2.76 | 18.84 | -17.98 | 0.96 | 12.60 | -15.44 | 10.33 | 15.51 | -4.9 | 39.48 | 11.97 | -1.56 | 43.01 | 9.55 | 24.03 | 81.9 | 3.77 | 23.61 | 67.56 | 0.31 | 24.0 | 14.81 | 16.50 | -5.77 | 33.93 | 148.06 | -8.53 | 18.94 | 81.38 | -10.69 | -20.79 | 18.88 | 120.72 | 790.92 | 10.74 | -14.29 | -11.75 |
| 22Q2 (11) | 5.43 | 5.03 | 22.57 | 22.97 | -6.78 | -2.05 | 14.90 | -0.73 | -0.33 | 16.31 | -9.84 | 15.35 | 12.16 | -9.52 | 20.16 | 7.70 | 0.26 | 14.75 | 3.05 | -8.13 | 8.93 | 0.25 | 0.0 | -7.41 | 17.51 | -9.6 | 15.43 | 161.86 | 13.05 | 10.63 | 91.12 | 9.92 | -13.7 | 8.55 | -50.0 | 253.29 | 12.53 | -0.16 | 12.48 |
| 22Q1 (10) | 5.17 | -19.47 | 170.68 | 24.64 | 2.28 | 13.71 | 15.01 | -1.57 | 51.01 | 18.09 | 14.86 | 61.95 | 13.44 | 15.07 | 63.3 | 7.68 | -14.0 | 181.32 | 3.32 | -17.41 | 167.74 | 0.25 | -26.47 | 66.67 | 19.37 | 12.22 | 53.73 | 143.17 | 18.36 | 5.39 | 82.89 | -14.36 | -6.48 | 17.11 | 433.37 | 50.53 | 12.55 | 31.69 | -24.99 |
| 21Q4 (9) | 6.42 | 60.9 | 169.75 | 24.09 | 29.1 | -10.01 | 15.25 | 33.54 | -9.28 | 15.75 | 41.64 | 23.24 | 11.68 | 39.55 | 31.38 | 8.93 | 70.1 | 151.55 | 4.02 | 78.67 | 132.37 | 0.34 | 25.93 | 78.95 | 17.26 | 40.1 | 20.53 | 120.96 | -2.83 | 11.54 | 96.79 | -5.78 | -26.61 | 3.21 | 217.38 | 110.05 | 9.53 | -21.69 | -9.67 |
| 21Q3 (8) | 3.99 | -9.93 | 52.29 | 18.66 | -20.43 | -26.71 | 11.42 | -23.61 | -23.71 | 11.12 | -21.36 | -12.03 | 8.37 | -17.29 | -16.55 | 5.25 | -21.76 | 27.74 | 2.25 | -19.64 | 13.07 | 0.27 | 0.0 | 35.0 | 12.32 | -18.79 | -11.18 | 124.48 | -14.92 | 20.57 | 102.73 | -2.7 | -13.49 | -2.73 | 51.03 | 85.43 | 12.17 | 9.25 | -6.6 |
| 21Q2 (7) | 4.43 | 131.94 | 3.02 | 23.45 | 8.21 | -16.46 | 14.95 | 50.4 | -21.93 | 14.14 | 26.59 | -26.28 | 10.12 | 22.96 | -20.88 | 6.71 | 145.79 | 2.13 | 2.80 | 125.81 | -20.23 | 0.27 | 80.0 | 0.0 | 15.17 | 20.4 | -23.81 | 146.31 | 7.7 | 29.78 | 105.58 | 19.12 | 6.06 | -5.58 | -149.1 | 0 | 11.14 | -33.41 | -11.59 |
| 21Q1 (6) | 1.91 | -19.75 | -29.52 | 21.67 | -19.05 | 22.57 | 9.94 | -40.87 | 3.22 | 11.17 | -12.6 | -16.27 | 8.23 | -7.42 | -15.68 | 2.73 | -23.1 | -32.09 | 1.24 | -28.32 | -45.13 | 0.15 | -21.05 | -34.78 | 12.60 | -12.01 | -11.45 | 135.85 | 25.27 | 109.19 | 88.64 | -32.8 | 22.73 | 11.36 | 135.63 | -59.09 | 16.73 | 58.58 | 46.37 |
| 20Q4 (5) | 2.38 | -9.16 | -35.33 | 26.77 | 5.15 | -0.37 | 16.81 | 12.29 | -6.46 | 12.78 | 1.11 | -23.29 | 8.89 | -11.37 | -21.74 | 3.55 | -13.63 | -37.72 | 1.73 | -13.07 | -42.9 | 0.19 | -5.0 | -29.63 | 14.32 | 3.24 | -17.89 | 108.45 | 5.05 | 16.9 | 131.90 | 11.07 | 21.9 | -31.90 | -70.11 | -316.93 | 10.55 | -19.03 | -8.89 |
| 20Q3 (4) | 2.62 | -39.07 | 0.0 | 25.46 | -9.3 | 0.0 | 14.97 | -21.83 | 0.0 | 12.64 | -34.1 | 0.0 | 10.03 | -21.58 | 0.0 | 4.11 | -37.44 | 0.0 | 1.99 | -43.3 | 0.0 | 0.20 | -25.93 | 0.0 | 13.87 | -30.34 | 0.0 | 103.24 | -8.43 | 0.0 | 118.75 | 19.29 | 0.0 | -18.75 | 0 | 0.0 | 13.03 | 3.41 | 0.0 |
| 20Q2 (3) | 4.30 | 58.67 | 0.0 | 28.07 | 58.77 | 0.0 | 19.15 | 98.86 | 0.0 | 19.18 | 43.78 | 0.0 | 12.79 | 31.05 | 0.0 | 6.57 | 63.43 | 0.0 | 3.51 | 55.31 | 0.0 | 0.27 | 17.39 | 0.0 | 19.91 | 39.92 | 0.0 | 112.74 | 73.61 | 0.0 | 99.54 | 37.83 | 0.0 | 0.00 | -100.0 | 0.0 | 12.60 | 10.24 | 0.0 |
| 20Q1 (2) | 2.71 | -26.36 | 0.0 | 17.68 | -34.2 | 0.0 | 9.63 | -46.41 | 0.0 | 13.34 | -19.93 | 0.0 | 9.76 | -14.08 | 0.0 | 4.02 | -29.47 | 0.0 | 2.26 | -25.41 | 0.0 | 0.23 | -14.81 | 0.0 | 14.23 | -18.41 | 0.0 | 64.94 | -30.0 | 0.0 | 72.22 | -33.25 | 0.0 | 27.78 | 463.1 | 0.0 | 11.43 | -1.3 | 0.0 |
| 19Q4 (1) | 3.68 | 0.0 | 0.0 | 26.87 | 0.0 | 0.0 | 17.97 | 0.0 | 0.0 | 16.66 | 0.0 | 0.0 | 11.36 | 0.0 | 0.0 | 5.70 | 0.0 | 0.0 | 3.03 | 0.0 | 0.0 | 0.27 | 0.0 | 0.0 | 17.44 | 0.0 | 0.0 | 92.77 | 0.0 | 0.0 | 108.20 | 0.0 | 0.0 | -7.65 | 0.0 | 0.0 | 11.58 | 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) | 14.95 | 27.34 | 25.44 | 13.72 | 16.16 | 17.44 | 0.94 | 30.41 | 17.16 | 14.63 | 12.62 | 13.49 | 28.04 | -5.46 | 12.03 | -1.07 | 0.94 | -13.76 | 18.72 | 16.35 | 116.67 | -29.77 | 94.14 | 2.33 | 5.80 | -28.28 | 0.54 | -31.34 | 12.63 | 9.92 |
| 2022 (9) | 11.74 | -29.91 | 22.37 | 0.81 | 13.76 | 2.0 | 0.72 | -16.36 | 14.97 | 10.64 | 11.12 | 11.53 | 29.66 | 26.7 | 12.16 | 11.25 | 1.09 | 0.0 | 16.09 | 8.64 | 166.12 | 37.33 | 91.99 | -7.79 | 8.09 | 3324.88 | 0.79 | -40.05 | 11.49 | -0.52 |
| 2021 (8) | 16.75 | 39.47 | 22.19 | -9.94 | 13.49 | -12.0 | 0.86 | -4.45 | 13.53 | -8.4 | 9.97 | -5.14 | 23.41 | 31.44 | 10.93 | 22.67 | 1.09 | 29.76 | 14.81 | -6.33 | 120.96 | 11.54 | 99.76 | -3.76 | 0.24 | 0 | 1.31 | 2021.77 | 11.55 | -3.19 |
| 2020 (7) | 12.01 | -18.02 | 24.64 | 1.73 | 15.33 | 1.39 | 0.90 | 28.31 | 14.77 | -7.86 | 10.51 | -6.83 | 17.81 | -18.42 | 8.91 | -21.98 | 0.84 | -16.83 | 15.81 | -5.72 | 108.45 | 16.9 | 103.66 | 10.05 | -3.84 | 0 | 0.06 | 0 | 11.93 | -1.4 |
| 2019 (6) | 14.65 | -11.21 | 24.22 | 7.07 | 15.12 | 4.28 | 0.70 | 242.44 | 16.03 | -3.08 | 11.28 | -1.91 | 21.83 | -16.1 | 11.42 | -0.17 | 1.01 | 2.02 | 16.77 | 0.12 | 92.77 | 2.55 | 94.20 | 7.41 | 5.66 | -54.0 | 0.00 | 0 | 12.10 | 14.91 |
| 2018 (5) | 16.50 | 9.49 | 22.62 | -24.2 | 14.50 | -28.29 | 0.21 | -1.88 | 16.54 | -7.34 | 11.50 | -14.12 | 26.02 | -10.95 | 11.44 | 12.93 | 0.99 | 32.0 | 16.75 | -7.46 | 90.46 | -46.77 | 87.70 | -22.55 | 12.30 | 0 | 0.00 | 0 | 10.53 | -17.28 |
| 2017 (4) | 15.07 | 53.31 | 29.84 | 34.54 | 20.22 | 61.89 | 0.21 | -7.48 | 17.85 | 33.91 | 13.39 | 34.3 | 29.22 | 3.54 | 10.13 | 26.31 | 0.75 | -6.25 | 18.10 | 33.28 | 169.95 | -24.45 | 113.23 | 21.1 | -13.23 | 0 | 0.00 | 0 | 12.73 | 0.87 |
| 2016 (3) | 9.83 | 48.49 | 22.18 | 45.54 | 12.49 | 95.16 | 0.23 | -15.16 | 13.33 | 75.39 | 9.97 | 74.0 | 28.22 | 31.93 | 8.02 | 46.35 | 0.80 | -15.79 | 13.58 | 72.12 | 224.95 | -21.94 | 93.50 | 10.76 | 6.21 | -60.11 | 0.00 | 0 | 12.62 | 11.78 |
| 2015 (2) | 6.62 | 97.02 | 15.24 | -5.46 | 6.40 | 31.96 | 0.27 | -37.88 | 7.60 | 43.13 | 5.73 | 61.86 | 21.39 | 91.67 | 5.48 | 48.91 | 0.95 | -7.77 | 7.89 | 36.74 | 288.16 | -2.65 | 84.42 | -7.03 | 15.58 | 69.41 | 0.00 | 0 | 11.29 | -25.23 |
| 2014 (1) | 3.36 | -48.23 | 16.12 | 0 | 4.85 | 0 | 0.43 | 12.37 | 5.31 | 0 | 3.54 | 0 | 11.16 | 0 | 3.68 | 0 | 1.03 | -0.96 | 5.77 | -64.05 | 296.00 | 269.54 | 90.80 | 78.68 | 9.20 | -81.3 | 0.00 | 0 | 15.10 | -17.08 |
