- 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) | 0.67 | -74.62 | -84.94 | 100.00 | 0.0 | 0.0 | 11.70 | -52.94 | -65.33 | 8.25 | -71.92 | -80.31 | 7.33 | -71.36 | -79.36 | 1.43 | -75.43 | -82.58 | 1.24 | -73.16 | -81.3 | 0.17 | -5.56 | -10.53 | 12.83 | -61.24 | -71.28 | 7.39 | -71.74 | -52.32 | 140.62 | 65.6 | 74.34 | -40.62 | -369.41 | -310.09 | 52.18 | 18.21 | 15.65 |
| 24Q2 (19) | 2.64 | 116.39 | -7.69 | 100.00 | 0.0 | 0.0 | 24.86 | 3046.84 | -1.0 | 29.38 | 87.01 | -10.62 | 25.59 | 106.87 | -9.64 | 5.82 | 168.2 | 2.65 | 4.62 | 156.67 | 10.79 | 0.18 | 20.0 | 20.0 | 33.10 | 66.5 | -8.59 | 26.15 | -1.58 | -20.59 | 84.92 | 1428.57 | 11.28 | 15.08 | -84.03 | -36.33 | 44.14 | -21.32 | -11.95 |
| 24Q1 (18) | 1.22 | -62.69 | -45.54 | 100.00 | 0.0 | 0.0 | 0.79 | -97.57 | -94.46 | 15.71 | -37.13 | -44.19 | 12.37 | -43.18 | -44.75 | 2.17 | -61.46 | -45.2 | 1.80 | -63.04 | -39.6 | 0.15 | -31.82 | 15.38 | 19.88 | -27.84 | -37.78 | 26.57 | 64.22 | -32.15 | 5.56 | -95.73 | -89.14 | 94.44 | 414.81 | 93.28 | 56.10 | 22.44 | 10.06 |
| 23Q4 (17) | 3.27 | -26.52 | -34.6 | 100.00 | 0.0 | 0.0 | 32.47 | -3.79 | -22.91 | 24.99 | -40.34 | -31.8 | 21.77 | -38.69 | -31.65 | 5.63 | -31.43 | -35.8 | 4.87 | -26.55 | -30.03 | 0.22 | 15.79 | 0.0 | 27.55 | -38.34 | -29.83 | 16.18 | 4.39 | -41.06 | 130.00 | 61.16 | 12.96 | -30.00 | -255.14 | -98.89 | 45.82 | 1.55 | 14.84 |
| 23Q3 (16) | 4.45 | 55.59 | 36.5 | 100.00 | 0.0 | 0.0 | 33.75 | 34.41 | 68.08 | 41.89 | 27.44 | 12.46 | 35.51 | 25.39 | 13.2 | 8.21 | 44.8 | 30.52 | 6.63 | 58.99 | 38.12 | 0.19 | 26.67 | 26.67 | 44.68 | 23.39 | 8.5 | 15.50 | -52.93 | -37.07 | 80.66 | 5.7 | 48.92 | 19.34 | -18.35 | -58.56 | 45.12 | -9.99 | -18.94 |
| 23Q2 (15) | 2.86 | 27.68 | 8.33 | 100.00 | 0.0 | 0.0 | 25.11 | 76.09 | 2.95 | 32.87 | 16.77 | 3.07 | 28.32 | 26.49 | 3.28 | 5.67 | 43.18 | 9.04 | 4.17 | 39.93 | 5.04 | 0.15 | 15.38 | 7.14 | 36.21 | 13.33 | 1.51 | 32.93 | -15.91 | -13.89 | 76.32 | 49.24 | 0.36 | 23.68 | -51.53 | 3.35 | 50.13 | -1.65 | 8.11 |
| 23Q1 (14) | 2.24 | -55.2 | 75.0 | 100.00 | 0.0 | 0.0 | 14.26 | -66.14 | 48.08 | 28.15 | -23.17 | 45.93 | 22.39 | -29.7 | 39.41 | 3.96 | -54.85 | 59.68 | 2.98 | -57.18 | 47.52 | 0.13 | -40.91 | 0.0 | 31.95 | -18.62 | 34.3 | 39.16 | 42.66 | 62.42 | 51.14 | -55.57 | 2.27 | 48.86 | 423.95 | -2.27 | 50.97 | 27.74 | -7.78 |
| 22Q4 (13) | 5.00 | 53.37 | 27.88 | 100.00 | 0.0 | 0.0 | 42.12 | 109.76 | 6.82 | 36.64 | -1.64 | -5.93 | 31.85 | 1.53 | -4.75 | 8.77 | 39.43 | 9.49 | 6.96 | 45.0 | 9.26 | 0.22 | 46.67 | 15.79 | 39.26 | -4.66 | -6.59 | 27.45 | 11.45 | 23.09 | 115.08 | 112.46 | 13.49 | -15.08 | -132.32 | -970.95 | 39.90 | -28.31 | 9.68 |
| 22Q3 (12) | 3.26 | 23.48 | 207.55 | 100.00 | 0.0 | 0.0 | 20.08 | -17.67 | 14.16 | 37.25 | 16.81 | 112.13 | 31.37 | 14.41 | 109.97 | 6.29 | 20.96 | 172.29 | 4.80 | 20.91 | 187.43 | 0.15 | 7.14 | 36.36 | 41.18 | 15.45 | 81.17 | 24.63 | -35.59 | -17.9 | 54.17 | -28.77 | -45.83 | 46.67 | 103.64 | 0 | 55.66 | 20.03 | -1.68 |
| 22Q2 (11) | 2.64 | 106.25 | 94.12 | 100.00 | 0.0 | 0.0 | 24.39 | 153.27 | -15.95 | 31.89 | 65.32 | 45.28 | 27.42 | 70.73 | 38.84 | 5.20 | 109.68 | 85.05 | 3.97 | 96.53 | 94.61 | 0.14 | 7.69 | 40.0 | 35.67 | 49.94 | 36.3 | 38.24 | 58.61 | -26.7 | 76.04 | 52.08 | -42.36 | 22.92 | -54.17 | 171.81 | 46.37 | -16.1 | -3.46 |
| 22Q1 (10) | 1.28 | -67.26 | -28.49 | 100.00 | 0.0 | 0.0 | 9.63 | -75.58 | -69.99 | 19.29 | -50.47 | -37.71 | 16.06 | -51.97 | -38.47 | 2.48 | -69.04 | -30.53 | 2.02 | -68.29 | -30.34 | 0.13 | -31.58 | 18.18 | 23.79 | -43.4 | -33.32 | 24.11 | 8.12 | -17.12 | 50.00 | -50.69 | -51.47 | 50.00 | 3650.0 | 1750.0 | 55.27 | 51.92 | 11.72 |
| 21Q4 (9) | 3.91 | 268.87 | 4.55 | 100.00 | 0.0 | 0.0 | 39.43 | 124.16 | -24.03 | 38.95 | 121.81 | -14.28 | 33.44 | 123.83 | -12.53 | 8.01 | 246.75 | -0.5 | 6.37 | 281.44 | -8.87 | 0.19 | 72.73 | 5.56 | 42.03 | 84.91 | -13.96 | 22.30 | -25.67 | 35.81 | 101.41 | 1.41 | -11.43 | -1.41 | 0 | 90.28 | 36.38 | -35.74 | 2.91 |
| 21Q3 (8) | 1.06 | -22.06 | -59.7 | 100.00 | 0.0 | 0.0 | 17.59 | -39.39 | -57.85 | 17.56 | -20.0 | -49.96 | 14.94 | -24.35 | -50.63 | 2.31 | -17.79 | -62.38 | 1.67 | -18.14 | -66.4 | 0.11 | 10.0 | -31.25 | 22.73 | -13.14 | -41.34 | 30.00 | -42.5 | 116.92 | 100.00 | -24.19 | -15.93 | 0.00 | 100.0 | 100.0 | 56.61 | 17.86 | 42.95 |
| 21Q2 (7) | 1.36 | -24.02 | -34.3 | 100.00 | 0.0 | 0.0 | 29.02 | -9.57 | -30.64 | 21.95 | -29.12 | -37.3 | 19.75 | -24.33 | -35.83 | 2.81 | -21.29 | -39.7 | 2.04 | -29.66 | -46.6 | 0.10 | -9.09 | -16.67 | 26.17 | -26.65 | -34.88 | 52.17 | 79.34 | 51.0 | 131.91 | 28.04 | 9.43 | -31.91 | -953.19 | -66.41 | 48.03 | -2.91 | 18.18 |
| 21Q1 (6) | 1.79 | -52.14 | -5.79 | 100.00 | 0.0 | 0.0 | 32.09 | -38.17 | 5.73 | 30.97 | -31.84 | -12.83 | 26.10 | -31.73 | -13.83 | 3.57 | -55.65 | -12.07 | 2.90 | -58.51 | -20.77 | 0.11 | -38.89 | -8.33 | 35.68 | -26.96 | -12.59 | 29.09 | 77.16 | 163.26 | 103.03 | -10.01 | 20.2 | -3.03 | 79.09 | -121.21 | 49.47 | 39.94 | 10.55 |
| 20Q4 (5) | 3.74 | 42.21 | 28.52 | 100.00 | 0.0 | 0.0 | 51.90 | 24.37 | 7.25 | 45.44 | 29.5 | 11.32 | 38.23 | 26.34 | 4.85 | 8.05 | 31.11 | 24.04 | 6.99 | 40.64 | 18.68 | 0.18 | 12.5 | 12.5 | 48.85 | 26.06 | 9.14 | 16.42 | 18.73 | 49.68 | 114.49 | -3.75 | -3.64 | -14.49 | 23.51 | 22.96 | 35.35 | -10.73 | -0.31 |
| 20Q3 (4) | 2.63 | 27.05 | 0.0 | 100.00 | 0.0 | 0.0 | 41.73 | -0.26 | 0.0 | 35.09 | 0.23 | 0.0 | 30.26 | -1.69 | 0.0 | 6.14 | 31.76 | 0.0 | 4.97 | 30.1 | 0.0 | 0.16 | 33.33 | 0.0 | 38.75 | -3.58 | 0.0 | 13.83 | -59.97 | 0.0 | 118.95 | -1.33 | 0.0 | -18.95 | 1.2 | 0.0 | 39.60 | -2.56 | 0.0 |
| 20Q2 (3) | 2.07 | 8.95 | 0.0 | 100.00 | 0.0 | 0.0 | 41.84 | 37.86 | 0.0 | 35.01 | -1.46 | 0.0 | 30.78 | 1.62 | 0.0 | 4.66 | 14.78 | 0.0 | 3.82 | 4.37 | 0.0 | 0.12 | 0.0 | 0.0 | 40.19 | -1.54 | 0.0 | 34.55 | 212.67 | 0.0 | 120.55 | 40.64 | 0.0 | -19.18 | -234.25 | 0.0 | 40.64 | -9.18 | 0.0 |
| 20Q1 (2) | 1.90 | -34.71 | 0.0 | 100.00 | 0.0 | 0.0 | 30.35 | -37.28 | 0.0 | 35.53 | -12.96 | 0.0 | 30.29 | -16.92 | 0.0 | 4.06 | -37.44 | 0.0 | 3.66 | -37.86 | 0.0 | 0.12 | -25.0 | 0.0 | 40.82 | -8.8 | 0.0 | 11.05 | 0.73 | 0.0 | 85.71 | -27.86 | 0.0 | 14.29 | 175.94 | 0.0 | 44.75 | 26.2 | 0.0 |
| 19Q4 (1) | 2.91 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 48.39 | 0.0 | 0.0 | 40.82 | 0.0 | 0.0 | 36.46 | 0.0 | 0.0 | 6.49 | 0.0 | 0.0 | 5.89 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 44.76 | 0.0 | 0.0 | 10.97 | 0.0 | 0.0 | 118.81 | 0.0 | 0.0 | -18.81 | 0.0 | 0.0 | 35.46 | 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) | 12.60 | 3.62 | 100.00 | 0.0 | 27.69 | 2.37 | 2.67 | -13.62 | 31.84 | -2.27 | 26.99 | -3.19 | 22.20 | 0.73 | 18.28 | 3.69 | 0.68 | 7.94 | 34.93 | -3.24 | 16.18 | -41.06 | 86.94 | 4.66 | 13.06 | -22.86 | 0.50 | 7.73 | 47.56 | -0.65 |
| 2022 (9) | 12.16 | 49.75 | 100.00 | 0.0 | 27.05 | -12.52 | 3.09 | -15.53 | 32.58 | 12.31 | 27.88 | 11.65 | 22.04 | 34.88 | 17.63 | 28.12 | 0.63 | 14.55 | 36.10 | 8.73 | 27.45 | 23.09 | 83.07 | -21.97 | 16.93 | 0 | 0.46 | 12.52 | 47.87 | 4.04 |
| 2021 (8) | 8.12 | -21.47 | 100.00 | 0.0 | 30.92 | -27.47 | 3.66 | -8.03 | 29.01 | -24.41 | 24.97 | -23.99 | 16.34 | -25.18 | 13.76 | -28.37 | 0.55 | -5.17 | 33.20 | -22.27 | 22.30 | 35.81 | 106.46 | -4.23 | -6.46 | 0 | 0.41 | -9.29 | 46.01 | 16.39 |
| 2020 (7) | 10.34 | 4.44 | 100.00 | 0.0 | 42.63 | 0.16 | 3.98 | -1.29 | 38.38 | -7.85 | 32.85 | -7.46 | 21.84 | -22.61 | 19.21 | -20.46 | 0.58 | -14.71 | 42.71 | -7.21 | 16.42 | 49.68 | 111.17 | 8.77 | -11.17 | 0 | 0.46 | 264.26 | 39.53 | 2.57 |
| 2019 (6) | 9.90 | 1.33 | 100.00 | 0.0 | 42.56 | 6.24 | 4.03 | 39.87 | 41.65 | -3.3 | 35.50 | -3.16 | 28.22 | -33.19 | 24.15 | -24.91 | 0.68 | -21.84 | 46.03 | -0.95 | 10.97 | -61.64 | 102.21 | 9.89 | -2.21 | 0 | 0.12 | -76.05 | 38.54 | -0.28 |
| 2018 (5) | 9.77 | 50.08 | 100.00 | 0.0 | 40.06 | 3.54 | 2.88 | -20.62 | 43.07 | 26.27 | 36.66 | 24.65 | 42.24 | 19.97 | 32.16 | 25.04 | 0.87 | 0.0 | 46.47 | 22.26 | 28.60 | -21.21 | 93.01 | -18.0 | 6.99 | 0 | 0.52 | 0 | 38.65 | -2.0 |
| 2017 (4) | 6.51 | 2.52 | 100.00 | 0.0 | 38.69 | 10.1 | 3.63 | -4.34 | 34.11 | -2.29 | 29.41 | -1.97 | 35.21 | -16.8 | 25.72 | -14.92 | 0.87 | -13.86 | 38.01 | -4.78 | 36.30 | -4.35 | 113.43 | 12.78 | -13.43 | 0 | 0.00 | 0 | 39.44 | -11.41 |
| 2016 (3) | 6.35 | 510.58 | 100.00 | 0.0 | 35.14 | 381.37 | 3.79 | -41.43 | 34.91 | 245.99 | 30.00 | 247.62 | 42.32 | 287.19 | 30.23 | 266.42 | 1.01 | 5.21 | 39.92 | 101.82 | 37.95 | -14.06 | 100.57 | 40.8 | -0.57 | 0 | 0.00 | 0 | 44.52 | -24.13 |
| 2015 (2) | 1.04 | 42.47 | 100.00 | 0.0 | 7.30 | 615.69 | 6.47 | 3.1 | 10.09 | 69.87 | 8.63 | 6.54 | 10.93 | 29.5 | 8.25 | 13.95 | 0.96 | 7.87 | 19.78 | 24.09 | 44.16 | 128.93 | 71.43 | 328.57 | 28.57 | -65.71 | 0.00 | 0 | 58.68 | -8.4 |
| 2014 (1) | 0.73 | -15.12 | 100.00 | 0 | 1.02 | 0 | 6.28 | 0 | 5.94 | 0 | 8.10 | 0 | 8.44 | 0 | 7.24 | 0 | 0.89 | 2.3 | 15.94 | 0 | 19.29 | 42.05 | 16.67 | -81.48 | 83.33 | 733.33 | 0.00 | 0 | 64.06 | 0 |
