- 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) | 0.98 | 7.69 | 66.1 | 50.36 | 15.4 | 8.46 | 18.00 | 37.3 | 68.54 | 19.35 | 77.2 | 77.2 | 14.30 | 51.64 | 68.24 | 3.38 | 7.3 | 74.23 | 1.34 | 11.67 | 63.41 | 0.08 | -27.27 | 14.29 | 27.37 | 56.31 | 33.58 | 178.90 | -12.88 | -6.32 | 93.27 | -23.13 | -4.94 | 6.73 | 133.65 | 256.73 | 28.13 | 15.38 | -12.75 |
| 23Q4 (19) | 0.91 | -28.35 | 16.67 | 43.64 | -9.76 | -5.52 | 13.11 | -24.91 | -8.64 | 10.92 | -40.13 | -14.95 | 9.43 | -35.28 | 24.74 | 3.15 | -28.25 | 10.92 | 1.20 | -23.57 | 15.38 | 0.11 | 22.22 | 0.0 | 17.51 | -32.76 | -9.13 | 205.34 | -4.19 | -7.45 | 121.33 | 27.11 | 8.38 | -20.00 | -540.0 | -67.27 | 24.38 | -10.76 | -22.41 |
| 23Q3 (18) | 1.27 | 64.94 | -19.11 | 48.36 | 0.92 | -5.9 | 17.46 | 26.71 | -18.64 | 18.24 | 48.78 | -14.65 | 14.57 | 55.66 | -14.19 | 4.39 | 68.85 | -28.85 | 1.57 | 52.43 | -24.15 | 0.09 | 0.0 | -18.18 | 26.04 | 29.55 | -7.43 | 214.32 | -5.5 | -8.34 | 95.45 | -15.02 | -5.23 | 4.55 | 136.87 | 727.27 | 27.32 | -8.51 | -1.83 |
| 23Q2 (17) | 0.77 | 30.51 | -55.49 | 47.92 | 3.21 | -7.24 | 13.78 | 29.03 | -34.29 | 12.26 | 12.27 | -45.87 | 9.36 | 10.12 | -53.39 | 2.60 | 34.02 | -64.24 | 1.03 | 25.61 | -57.26 | 0.09 | 28.57 | -18.18 | 20.10 | -1.9 | -31.63 | 226.79 | 18.76 | 5.01 | 112.33 | 14.49 | 21.24 | -12.33 | -753.42 | -267.67 | 29.86 | -7.38 | 1.98 |
| 23Q1 (16) | 0.59 | -24.36 | -60.14 | 46.43 | 0.52 | -10.85 | 10.68 | -25.57 | -51.5 | 10.92 | -14.95 | -60.86 | 8.50 | 12.43 | -61.8 | 1.94 | -31.69 | -68.4 | 0.82 | -21.15 | -61.32 | 0.07 | -36.36 | -22.22 | 20.49 | 6.33 | -43.04 | 190.97 | -13.92 | -15.66 | 98.11 | -12.36 | 23.83 | 1.89 | 115.78 | -91.24 | 32.24 | 2.61 | 18.49 |
| 22Q4 (15) | 0.78 | -50.32 | -72.54 | 46.19 | -10.12 | -18.23 | 14.35 | -33.13 | -51.6 | 12.84 | -39.92 | -62.52 | 7.56 | -55.48 | -73.73 | 2.84 | -53.97 | -71.99 | 1.04 | -49.76 | -73.74 | 0.11 | 0.0 | -15.38 | 19.27 | -31.5 | -51.66 | 221.86 | -5.12 | 16.68 | 111.96 | 11.15 | 28.89 | -11.96 | -1550.0 | -188.18 | 31.42 | 12.9 | 19.79 |
| 22Q3 (14) | 1.57 | -9.25 | -31.74 | 51.39 | -0.52 | -10.67 | 21.46 | 2.34 | -15.91 | 21.37 | -5.65 | -35.12 | 16.98 | -15.44 | -37.57 | 6.17 | -15.13 | -21.1 | 2.07 | -14.11 | -35.91 | 0.11 | 0.0 | 0.0 | 28.13 | -4.32 | -28.84 | 233.83 | 8.27 | 65.38 | 100.72 | 8.72 | 30.07 | -0.72 | -109.86 | -103.21 | 27.83 | -4.95 | -12.87 |
| 22Q2 (13) | 1.73 | 16.89 | 12.34 | 51.66 | -0.81 | -8.5 | 20.97 | -4.77 | -11.67 | 22.65 | -18.82 | 1.62 | 20.08 | -9.75 | 3.61 | 7.27 | 18.4 | 48.67 | 2.41 | 13.68 | 9.05 | 0.11 | 22.22 | 0.0 | 29.40 | -18.27 | 0.48 | 215.97 | -4.62 | 34.96 | 92.65 | 16.93 | -12.97 | 7.35 | -65.86 | 213.97 | 29.28 | 7.61 | -7.55 |
| 22Q1 (12) | 1.48 | -47.89 | 49.49 | 52.08 | -7.81 | -3.07 | 22.02 | -25.73 | 18.77 | 27.90 | -18.56 | 48.01 | 22.25 | -22.69 | 40.38 | 6.14 | -39.45 | 111.72 | 2.12 | -46.46 | 48.25 | 0.09 | -30.77 | 12.5 | 35.97 | -9.76 | 27.06 | 226.42 | 19.08 | 104.55 | 79.23 | -8.79 | -18.81 | 21.54 | 58.85 | 1687.69 | 27.21 | 3.74 | -15.05 |
| 21Q4 (11) | 2.84 | 23.48 | 66.08 | 56.49 | -1.81 | 12.75 | 29.65 | 16.18 | 30.56 | 34.26 | 4.01 | 80.22 | 28.78 | 5.81 | 54.23 | 10.14 | 29.67 | 89.18 | 3.96 | 22.6 | 63.64 | 0.13 | 18.18 | 8.33 | 39.86 | 0.83 | 56.81 | 190.14 | 34.48 | 43.99 | 86.86 | 12.18 | -27.03 | 13.56 | -39.91 | 171.19 | 26.23 | -17.88 | 3.84 |
| 21Q3 (10) | 2.30 | 49.35 | 45.57 | 57.53 | 1.9 | 13.38 | 25.52 | 7.5 | 26.52 | 32.94 | 47.78 | 61.79 | 27.20 | 40.35 | 46.16 | 7.82 | 59.92 | 55.78 | 3.23 | 46.15 | 45.5 | 0.11 | 0.0 | 0.0 | 39.53 | 35.1 | 41.79 | 141.39 | -11.64 | 2.46 | 77.44 | -27.26 | -21.92 | 22.56 | 449.74 | 2652.82 | 31.94 | 0.85 | 7.91 |
| 21Q2 (9) | 1.54 | 55.56 | 38.74 | 56.46 | 5.08 | 14.69 | 23.74 | 28.05 | 29.09 | 22.29 | 18.25 | 22.61 | 19.38 | 22.27 | 26.34 | 4.89 | 68.62 | 40.52 | 2.21 | 54.55 | 35.58 | 0.11 | 37.5 | 10.0 | 29.26 | 3.36 | 7.02 | 160.02 | 44.57 | 8.34 | 106.45 | 9.08 | 5.34 | -6.45 | -635.48 | -512.9 | 31.67 | -1.12 | 0 |
| 21Q1 (8) | 0.99 | -42.11 | 480.77 | 53.73 | 7.25 | 7.83 | 18.54 | -18.36 | 941.57 | 18.85 | -0.84 | 793.01 | 15.85 | -15.06 | 342.35 | 2.90 | -45.9 | 453.66 | 1.43 | -40.91 | 852.63 | 0.08 | -33.33 | 33.33 | 28.31 | 11.37 | 106.19 | 110.69 | -16.18 | -12.79 | 97.59 | -18.02 | 256.14 | 1.20 | 106.33 | -99.31 | 32.03 | 26.8 | -18.19 |
| 20Q4 (7) | 1.71 | 8.23 | 85.87 | 50.10 | -1.26 | 5.67 | 22.71 | 12.59 | 51.6 | 19.01 | -6.63 | 117.75 | 18.66 | 0.27 | 117.48 | 5.36 | 6.77 | 103.03 | 2.42 | 9.01 | 84.73 | 0.12 | 9.09 | -7.69 | 25.42 | -8.82 | 58.97 | 132.05 | -4.31 | 2.81 | 119.05 | 20.03 | -30.29 | -19.05 | -2423.81 | 73.66 | 25.26 | -14.66 | 0 |
| 20Q3 (6) | 1.58 | 42.34 | 139.39 | 50.74 | 3.07 | 9.12 | 20.17 | 9.68 | 42.34 | 20.36 | 11.99 | 122.27 | 18.61 | 21.32 | 194.93 | 5.02 | 44.25 | 141.35 | 2.22 | 36.2 | 124.24 | 0.11 | 10.0 | -8.33 | 27.88 | 1.98 | 64.1 | 138.00 | -6.57 | -5.38 | 99.18 | -1.85 | -35.82 | 0.82 | 177.87 | 101.5 | 29.60 | 0 | 12.08 |
| 20Q2 (5) | 1.11 | 526.92 | 76.19 | 49.23 | -1.2 | -3.09 | 18.39 | 933.15 | 44.12 | 18.18 | 768.38 | 69.27 | 15.34 | 334.56 | 127.93 | 3.48 | 524.39 | 67.31 | 1.63 | 957.89 | 75.27 | 0.10 | 66.67 | -9.09 | 27.34 | 99.13 | 39.13 | 147.70 | 16.37 | -24.07 | 101.05 | 261.68 | -14.3 | -1.05 | -100.6 | 94.57 | 0.00 | -100.0 | -100.0 |
| 20Q1 (4) | -0.26 | -128.26 | 0.0 | 49.83 | 5.1 | 0.0 | 1.78 | -88.12 | 0.0 | -2.72 | -131.16 | 0.0 | -6.54 | -176.22 | 0.0 | -0.82 | -131.06 | 0.0 | -0.19 | -114.5 | 0.0 | 0.06 | -53.85 | 0.0 | 13.73 | -14.13 | 0.0 | 126.92 | -1.18 | 0.0 | -62.50 | -136.6 | 0.0 | 175.00 | 342.02 | 0.0 | 39.15 | 0 | 0.0 |
| 19Q4 (3) | 0.92 | 39.39 | 0.0 | 47.41 | 1.96 | 0.0 | 14.98 | 5.72 | 0.0 | 8.73 | -4.69 | 0.0 | 8.58 | 35.97 | 0.0 | 2.64 | 26.92 | 0.0 | 1.31 | 32.32 | 0.0 | 0.13 | 8.33 | 0.0 | 15.99 | -5.89 | 0.0 | 128.44 | -11.94 | 0.0 | 170.77 | 10.5 | 0.0 | -72.31 | -32.56 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (2) | 0.66 | 4.76 | 0.0 | 46.50 | -8.46 | 0.0 | 14.17 | 11.05 | 0.0 | 9.16 | -14.71 | 0.0 | 6.31 | -6.24 | 0.0 | 2.08 | 0.0 | 0.0 | 0.99 | 6.45 | 0.0 | 0.12 | 9.09 | 0.0 | 16.99 | -13.54 | 0.0 | 145.85 | -25.02 | 0.0 | 154.55 | 31.07 | 0.0 | -54.55 | -181.12 | 0.0 | 26.41 | -16.58 | 0.0 |
| 19Q2 (1) | 0.63 | 0.0 | 0.0 | 50.80 | 0.0 | 0.0 | 12.76 | 0.0 | 0.0 | 10.74 | 0.0 | 0.0 | 6.73 | 0.0 | 0.0 | 2.08 | 0.0 | 0.0 | 0.93 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 19.65 | 0.0 | 0.0 | 194.52 | 0.0 | 0.0 | 117.91 | 0.0 | 0.0 | -19.40 | 0.0 | 0.0 | 31.66 | 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) | 3.52 | -36.69 | 46.48 | -7.15 | 13.88 | -28.27 | 5.14 | 2.44 | 13.11 | -35.83 | 10.53 | -34.15 | 12.28 | -40.65 | 4.69 | -36.19 | 0.37 | -11.9 | 20.88 | -23.6 | 205.34 | -7.45 | 106.11 | 11.97 | -5.79 | 0 | 0.11 | 16.54 | 28.11 | -3.5 |
| 2022 (9) | 5.56 | -27.6 | 50.06 | -10.96 | 19.35 | -22.57 | 5.01 | -7.17 | 20.43 | -27.09 | 15.99 | -32.19 | 20.69 | -20.3 | 7.35 | -30.33 | 0.42 | -2.33 | 27.33 | -21.71 | 221.86 | 16.68 | 94.77 | 6.26 | 5.23 | -51.63 | 0.09 | -30.56 | 29.13 | -3.42 |
| 2021 (8) | 7.68 | 87.78 | 56.22 | 12.37 | 24.99 | 40.16 | 5.40 | -17.67 | 28.02 | 75.02 | 23.58 | 67.0 | 25.96 | 111.57 | 10.55 | 77.31 | 0.43 | 13.16 | 34.91 | 40.43 | 190.14 | 43.99 | 89.18 | -19.93 | 10.82 | 0 | 0.14 | -32.56 | 30.16 | 3.96 |
| 2020 (7) | 4.09 | 81.78 | 50.03 | 2.52 | 17.83 | 46.75 | 6.56 | 9.04 | 16.01 | 93.12 | 14.12 | 133.39 | 12.27 | 77.57 | 5.95 | 62.57 | 0.38 | -17.39 | 24.86 | 47.54 | 132.05 | 2.81 | 111.38 | -24.21 | -11.38 | 0 | 0.20 | -13.51 | 29.01 | -5.13 |
| 2019 (6) | 2.25 | -35.71 | 48.80 | -12.25 | 12.15 | -14.68 | 6.02 | 125.29 | 8.29 | -31.32 | 6.05 | -28.23 | 6.91 | -41.49 | 3.66 | -28.52 | 0.46 | -9.8 | 16.85 | 0.0 | 128.44 | -23.88 | 146.95 | 24.62 | -46.95 | 0 | 0.23 | -14.05 | 30.58 | -14.91 |
| 2018 (5) | 3.50 | 19.05 | 55.61 | 0.52 | 14.24 | -6.5 | 2.67 | 8.29 | 12.07 | -8.56 | 8.43 | -8.57 | 11.81 | -0.25 | 5.12 | -4.3 | 0.51 | 2.0 | 16.85 | -5.66 | 168.74 | -4.83 | 117.92 | 2.14 | -17.92 | 0 | 0.27 | -15.84 | 35.94 | 0.34 |
| 2017 (4) | 2.94 | 4.26 | 55.32 | 5.31 | 15.23 | -3.91 | 2.47 | 20.86 | 13.20 | -1.86 | 9.22 | -2.54 | 11.84 | -3.58 | 5.35 | -19.55 | 0.50 | -21.88 | 17.86 | 5.0 | 177.31 | 29.14 | 115.45 | -1.69 | -15.45 | 0 | 0.32 | 0 | 35.82 | 20.93 |
| 2016 (3) | 2.82 | -20.34 | 52.53 | 1.59 | 15.85 | -4.4 | 2.04 | 40.26 | 13.45 | -13.73 | 9.46 | -20.3 | 12.28 | -31.2 | 6.65 | -38.2 | 0.64 | -25.58 | 17.01 | -7.15 | 137.30 | 125.49 | 117.43 | 10.41 | -17.89 | 0 | 0.00 | 0 | 29.62 | 18.91 |
| 2015 (2) | 3.54 | 75.25 | 51.71 | 14.05 | 16.58 | 97.85 | 1.46 | -9.72 | 15.59 | 69.83 | 11.87 | 61.5 | 17.85 | 25.88 | 10.76 | 51.12 | 0.86 | -1.15 | 18.32 | 45.74 | 60.89 | -35.62 | 106.36 | 16.58 | -6.36 | 0 | 0.00 | 0 | 24.91 | -4.04 |
| 2014 (1) | 2.02 | 0 | 45.34 | 0 | 8.38 | 0 | 1.61 | 0 | 9.18 | 0 | 7.35 | 0 | 14.18 | 0 | 7.12 | 0 | 0.87 | 0 | 12.57 | 0 | 94.58 | -46.17 | 91.23 | 0 | 8.77 | 0 | 0.00 | 0 | 25.96 | 0 |
