- 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) | 3.66 | 340.96 | 454.55 | 36.57 | 65.7 | 73.15 | 31.00 | 105.43 | 128.78 | 37.13 | 397.72 | 203.6 | 31.04 | 246.82 | 204.91 | 12.00 | 331.65 | 397.93 | 8.92 | 341.58 | 434.13 | 0.29 | 31.82 | 81.25 | 41.00 | 233.06 | 111.34 | 32.15 | -17.56 | -38.57 | 83.44 | -58.28 | -24.64 | 16.56 | 116.56 | 254.56 | 16.08 | -25.35 | -23.14 |
| 23Q4 (19) | 0.83 | -53.63 | 207.41 | 22.07 | -21.51 | 31.68 | 15.09 | -29.22 | 79.0 | 7.46 | -73.08 | 100.0 | 8.95 | -54.87 | 157.18 | 2.78 | -54.8 | 178.0 | 2.02 | -54.09 | 158.97 | 0.22 | 0.0 | 22.22 | 12.31 | -63.19 | 23.97 | 39.00 | -4.34 | -25.76 | 200.00 | 160.87 | -8.33 | -100.00 | -528.57 | 15.38 | 21.54 | 12.13 | 4.72 |
| 23Q3 (18) | 1.79 | 29.71 | -14.35 | 28.12 | 28.46 | 6.52 | 21.32 | 31.12 | -1.07 | 27.71 | 45.38 | 21.0 | 19.83 | 19.31 | 4.2 | 6.15 | 23.74 | -22.35 | 4.40 | 27.91 | -9.28 | 0.22 | 10.0 | -12.0 | 33.44 | 35.6 | 23.35 | 40.77 | -9.22 | -33.25 | 76.67 | -10.56 | -17.86 | 23.33 | 63.33 | 320.0 | 19.21 | 8.9 | 24.58 |
| 23Q2 (17) | 1.38 | 109.09 | 119.05 | 21.89 | 3.65 | 37.5 | 16.26 | 20.0 | 56.8 | 19.06 | 55.85 | 127.72 | 16.62 | 63.26 | 166.35 | 4.97 | 106.22 | 99.6 | 3.44 | 105.99 | 123.38 | 0.20 | 25.0 | -13.04 | 24.66 | 27.11 | 87.81 | 44.91 | -14.2 | -38.52 | 85.71 | -22.58 | -30.5 | 14.29 | 233.33 | 161.22 | 17.64 | -15.68 | -5.26 |
| 23Q1 (16) | 0.66 | 144.44 | -57.14 | 21.12 | 26.01 | -8.53 | 13.55 | 60.74 | -16.97 | 12.23 | 227.88 | -40.43 | 10.18 | 192.53 | -40.71 | 2.41 | 141.0 | -62.11 | 1.67 | 114.1 | -54.5 | 0.16 | -11.11 | -23.81 | 19.40 | 95.37 | -24.07 | 52.34 | -0.36 | -28.18 | 110.71 | -49.26 | 40.52 | -10.71 | 90.93 | -150.51 | 20.92 | 1.7 | 6.19 |
| 22Q4 (15) | 0.27 | -87.08 | -83.93 | 16.76 | -36.52 | -32.28 | 8.43 | -60.88 | -56.19 | 3.73 | -83.71 | -81.12 | 3.48 | -81.71 | -78.1 | 1.00 | -87.37 | -85.82 | 0.78 | -83.92 | -80.74 | 0.18 | -28.0 | -28.0 | 9.93 | -63.37 | -57.56 | 52.53 | -14.0 | -37.14 | 218.18 | 133.77 | 124.24 | -118.18 | -2227.27 | -4472.73 | 20.57 | 33.4 | 13.84 |
| 22Q3 (14) | 2.09 | 231.75 | 53.68 | 26.40 | 65.83 | -18.32 | 21.55 | 107.81 | -12.65 | 22.90 | 173.6 | 18.29 | 19.03 | 204.97 | 8.49 | 7.92 | 218.07 | 37.5 | 4.85 | 214.94 | 43.92 | 0.25 | 8.7 | 38.89 | 27.11 | 106.47 | 5.77 | 61.08 | -16.39 | -12.58 | 93.33 | -24.32 | -25.88 | 5.56 | 123.81 | 120.0 | 15.42 | -17.19 | -20.6 |
| 22Q2 (13) | 0.63 | -59.09 | -57.14 | 15.92 | -31.05 | -40.08 | 10.37 | -36.46 | -48.84 | 8.37 | -59.23 | -52.58 | 6.24 | -63.66 | -59.19 | 2.49 | -60.85 | -61.28 | 1.54 | -58.04 | -54.3 | 0.23 | 9.52 | 9.52 | 13.13 | -48.61 | -43.16 | 73.05 | 0.23 | -15.99 | 123.33 | 56.54 | 7.25 | -23.33 | -210.0 | -55.56 | 18.62 | -5.48 | -6.71 |
| 22Q1 (12) | 1.54 | -8.33 | -23.0 | 23.09 | -6.71 | -14.61 | 16.32 | -15.18 | -20.27 | 20.53 | 3.9 | -10.97 | 17.17 | 8.06 | -12.04 | 6.36 | -9.79 | -24.11 | 3.67 | -9.38 | -14.65 | 0.21 | -16.0 | 0.0 | 25.55 | 9.19 | -7.66 | 72.88 | -12.79 | -36.83 | 78.79 | -19.02 | -11.76 | 21.21 | 684.85 | 97.98 | 19.70 | 9.02 | 4.56 |
| 21Q4 (11) | 1.68 | 23.53 | 37.7 | 24.75 | -23.42 | -3.73 | 19.24 | -22.01 | 1.8 | 19.76 | 2.07 | 39.65 | 15.89 | -9.41 | 47.27 | 7.05 | 22.4 | 39.88 | 4.05 | 20.18 | 41.61 | 0.25 | 38.89 | 0.0 | 23.40 | -8.7 | 24.47 | 83.57 | 19.61 | -6.81 | 97.30 | -22.73 | -27.03 | 2.70 | 109.73 | 108.11 | 18.07 | -6.95 | -15.91 |
| 21Q3 (10) | 1.36 | -7.48 | -48.87 | 32.32 | 21.64 | 18.26 | 24.67 | 21.71 | 23.78 | 19.36 | 9.69 | -36.27 | 17.54 | 14.72 | -33.69 | 5.76 | -10.42 | -54.57 | 3.37 | 0.0 | -50.66 | 0.18 | -14.29 | -28.0 | 25.63 | 10.95 | -26.18 | 69.87 | -19.64 | -11.56 | 125.93 | 9.5 | 91.71 | -27.78 | -85.19 | -180.95 | 19.42 | -2.71 | -8.22 |
| 21Q2 (9) | 1.47 | -26.5 | 5.76 | 26.57 | -1.74 | -2.92 | 20.27 | -0.98 | 5.46 | 17.65 | -23.46 | 1.32 | 15.29 | -21.67 | -8.33 | 6.43 | -23.27 | -12.16 | 3.37 | -21.63 | -11.08 | 0.21 | 0.0 | -4.55 | 23.10 | -16.52 | 1.05 | 86.95 | -24.64 | -14.17 | 115.00 | 28.8 | 4.35 | -15.00 | -240.0 | -47.0 | 19.96 | 5.94 | 0 |
| 21Q1 (8) | 2.00 | 63.93 | 43.88 | 27.04 | 5.17 | 0.97 | 20.47 | 8.31 | 9.58 | 23.06 | 62.97 | 20.61 | 19.52 | 80.91 | 11.16 | 8.38 | 66.27 | 17.53 | 4.30 | 50.35 | 9.14 | 0.21 | -16.0 | -4.55 | 27.67 | 47.18 | 14.58 | 115.38 | 28.66 | 12.79 | 89.29 | -33.04 | -8.93 | 10.71 | 132.14 | 446.43 | 18.84 | -12.33 | -9.12 |
| 20Q4 (7) | 1.22 | -54.14 | 100.0 | 25.71 | -5.93 | 34.68 | 18.90 | -5.17 | 101.49 | 14.15 | -53.42 | 90.19 | 10.79 | -59.21 | 33.54 | 5.04 | -60.25 | 77.46 | 2.86 | -58.13 | 53.76 | 0.25 | 0.0 | 25.0 | 18.80 | -45.85 | 34.38 | 89.68 | 13.52 | 25.22 | 133.33 | 102.99 | 4.35 | -33.33 | -197.14 | -20.0 | 21.49 | 1.56 | -17.22 |
| 20Q3 (6) | 2.66 | 91.37 | 144.04 | 27.33 | -0.15 | 13.59 | 19.93 | 3.69 | 27.59 | 30.38 | 74.4 | 117.31 | 26.45 | 58.57 | 101.29 | 12.68 | 73.22 | 132.23 | 6.83 | 80.21 | 108.23 | 0.25 | 13.64 | 8.7 | 34.72 | 51.88 | 78.78 | 79.00 | -22.01 | 2.01 | 65.69 | -40.4 | -40.42 | 34.31 | 436.27 | 367.65 | 21.16 | 0 | -3.47 |
| 20Q2 (5) | 1.39 | 0.0 | -4.14 | 27.37 | 2.2 | 11.03 | 19.22 | 2.89 | 35.93 | 17.42 | -8.89 | -19.31 | 16.68 | -5.01 | -9.59 | 7.32 | 2.66 | -9.18 | 3.79 | -3.81 | -11.24 | 0.22 | 0.0 | 0.0 | 22.86 | -5.34 | -15.83 | 101.30 | -0.98 | 30.73 | 110.20 | 12.41 | 68.55 | -10.20 | -620.41 | -129.48 | 0.00 | -100.0 | -100.0 |
| 20Q1 (4) | 1.39 | 127.87 | 0.0 | 26.78 | 40.28 | 0.0 | 18.68 | 99.15 | 0.0 | 19.12 | 156.99 | 0.0 | 17.56 | 117.33 | 0.0 | 7.13 | 151.06 | 0.0 | 3.94 | 111.83 | 0.0 | 0.22 | 10.0 | 0.0 | 24.15 | 72.62 | 0.0 | 102.30 | 42.84 | 0.0 | 98.04 | -23.27 | 0.0 | 1.96 | 107.06 | 0.0 | 20.73 | -20.15 | 0.0 |
| 19Q4 (3) | 0.61 | -44.04 | 0.0 | 19.09 | -20.66 | 0.0 | 9.38 | -39.95 | 0.0 | 7.44 | -46.78 | 0.0 | 8.08 | -38.51 | 0.0 | 2.84 | -47.99 | 0.0 | 1.86 | -43.29 | 0.0 | 0.20 | -13.04 | 0.0 | 13.99 | -27.96 | 0.0 | 71.62 | -7.52 | 0.0 | 127.78 | 15.89 | 0.0 | -27.78 | -116.67 | 0.0 | 25.96 | 18.43 | 0.0 |
| 19Q3 (2) | 1.09 | -24.83 | 0.0 | 24.06 | -2.39 | 0.0 | 15.62 | 10.47 | 0.0 | 13.98 | -35.25 | 0.0 | 13.14 | -28.78 | 0.0 | 5.46 | -32.26 | 0.0 | 3.28 | -23.19 | 0.0 | 0.23 | 4.55 | 0.0 | 19.42 | -28.5 | 0.0 | 77.44 | -0.06 | 0.0 | 110.26 | 68.63 | 0.0 | -12.82 | -137.04 | 0.0 | 21.92 | 1.06 | 0.0 |
| 19Q2 (1) | 1.45 | 0.0 | 0.0 | 24.65 | 0.0 | 0.0 | 14.14 | 0.0 | 0.0 | 21.59 | 0.0 | 0.0 | 18.45 | 0.0 | 0.0 | 8.06 | 0.0 | 0.0 | 4.27 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 27.16 | 0.0 | 0.0 | 77.49 | 0.0 | 0.0 | 65.38 | 0.0 | 0.0 | 34.62 | 0.0 | 0.0 | 21.69 | 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) | 4.66 | 2.87 | 23.49 | 12.77 | 16.78 | 14.85 | 5.23 | 21.96 | 16.82 | 16.08 | 14.08 | 17.82 | 16.20 | -8.16 | 11.44 | 3.62 | 0.79 | -10.23 | 22.53 | 15.84 | 39.00 | -25.76 | 100.00 | -1.01 | 0.00 | 0 | 0.00 | 0 | 19.81 | 7.9 |
| 2022 (9) | 4.53 | -30.41 | 20.83 | -23.87 | 14.61 | -30.23 | 4.29 | 4.11 | 14.49 | -27.66 | 11.95 | -29.91 | 17.64 | -33.56 | 11.04 | -24.95 | 0.88 | 6.02 | 19.45 | -21.79 | 52.53 | -37.14 | 101.02 | -3.59 | -1.02 | 0 | 0.00 | 0 | 18.36 | -3.52 |
| 2021 (8) | 6.51 | -1.51 | 27.36 | 2.36 | 20.94 | 9.06 | 4.12 | 0.24 | 20.03 | -1.04 | 17.05 | -3.56 | 26.55 | -4.84 | 14.71 | -7.19 | 0.83 | -4.6 | 24.87 | -0.76 | 83.57 | -6.81 | 104.78 | 10.38 | -4.41 | 0 | 0.00 | 0 | 19.03 | -8.95 |
| 2020 (7) | 6.61 | 50.91 | 26.73 | 14.87 | 19.20 | 37.83 | 4.11 | -12.01 | 20.24 | 30.41 | 17.68 | 26.65 | 27.90 | 15.0 | 15.85 | 17.93 | 0.87 | -4.4 | 25.06 | 18.38 | 89.68 | 25.22 | 94.92 | 5.77 | 5.08 | -50.49 | 0.00 | 0 | 20.90 | -8.01 |
| 2019 (6) | 4.38 | 77.33 | 23.27 | 21.71 | 13.93 | 57.22 | 4.67 | 12.88 | 15.52 | 54.74 | 13.96 | 68.8 | 24.26 | 50.31 | 13.44 | 66.75 | 0.91 | -1.09 | 21.17 | 43.33 | 71.62 | -40.58 | 89.74 | 2.24 | 10.26 | -7.69 | 0.00 | 0 | 22.72 | -9.27 |
| 2018 (5) | 2.47 | -41.47 | 19.12 | -10.28 | 8.86 | -42.54 | 4.14 | -13.73 | 10.03 | -44.52 | 8.27 | -38.7 | 16.14 | -48.81 | 8.06 | -46.69 | 0.92 | -15.6 | 14.77 | -37.01 | 120.53 | 13.76 | 87.78 | 2.91 | 11.11 | -24.44 | 0.00 | 0 | 25.04 | 22.62 |
| 2017 (4) | 4.22 | -97.13 | 21.31 | -24.08 | 15.42 | -34.38 | 4.80 | -5.69 | 18.08 | -24.92 | 13.49 | -35.67 | 31.53 | -32.03 | 15.12 | -18.8 | 1.09 | 23.86 | 23.45 | -19.83 | 105.95 | -17.08 | 85.29 | -12.61 | 14.71 | 511.76 | 0.00 | 0 | 20.42 | 32.0 |
| 2016 (3) | 146.98 | 1471.98 | 28.07 | 37.6 | 23.50 | 31.21 | 5.09 | 19.6 | 24.08 | 66.64 | 20.97 | 46.34 | 46.39 | 0 | 18.62 | 0 | 0.88 | 0 | 29.25 | 55.67 | 127.77 | -23.88 | 97.60 | -21.28 | 2.40 | 0 | 0.00 | 0 | 15.47 | -2.89 |
| 2015 (2) | 9.35 | 0 | 20.40 | 0 | 17.91 | 0 | 4.25 | 0 | 14.45 | 0 | 14.33 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 18.79 | 0 | 167.86 | 0 | 123.97 | 0 | -23.97 | 0 | 0.00 | 0 | 15.93 | 0 |
