- 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) | 2.70 | 25.0 | 3.45 | 22.33 | -4.41 | -25.94 | 13.42 | 1.82 | -28.99 | 13.53 | -13.05 | -39.08 | 10.64 | -12.43 | -39.78 | 7.69 | 9.86 | -8.45 | 3.22 | 19.7 | -14.59 | 0.29 | 38.1 | 38.1 | 15.62 | -13.8 | -38.26 | 128.69 | -23.8 | 3.63 | 99.35 | 17.51 | 16.84 | 0.65 | -95.82 | -95.69 | 15.12 | -9.13 | -16.97 |
| 24Q2 (19) | 2.16 | 16.13 | 35.0 | 23.36 | -7.78 | -2.54 | 13.18 | 2.49 | 9.38 | 15.56 | -5.12 | 5.06 | 12.15 | -6.54 | 4.29 | 7.00 | 18.85 | 26.13 | 2.69 | 5.49 | 9.35 | 0.21 | 10.53 | 5.0 | 18.12 | -8.53 | 0.55 | 168.88 | 0.8 | 25.29 | 84.55 | 8.27 | 3.98 | 15.45 | -29.48 | -17.31 | 16.64 | -23.14 | -17.54 |
| 24Q1 (18) | 1.86 | 16.98 | 36.76 | 25.33 | -8.29 | 2.63 | 12.86 | -11.74 | -3.6 | 16.40 | 15.41 | 13.26 | 13.00 | 9.7 | 13.74 | 5.89 | 22.2 | 27.49 | 2.55 | 11.35 | 21.43 | 0.19 | 5.56 | 11.76 | 19.81 | 11.48 | 7.96 | 167.54 | 44.59 | 24.39 | 78.10 | -23.68 | -15.31 | 21.90 | 1041.9 | 181.11 | 21.65 | 4.04 | -0.41 |
| 23Q4 (17) | 1.59 | -39.08 | 16.91 | 27.62 | -8.39 | 18.69 | 14.57 | -22.91 | 33.06 | 14.21 | -36.02 | 17.15 | 11.85 | -32.94 | 24.74 | 4.82 | -42.62 | 17.27 | 2.29 | -39.26 | 17.44 | 0.18 | -14.29 | -10.0 | 17.77 | -29.76 | 14.79 | 115.87 | -6.69 | -9.62 | 102.33 | 20.33 | 13.52 | -2.33 | -115.54 | -123.59 | 20.81 | 14.28 | 11.88 |
| 23Q3 (16) | 2.61 | 63.12 | 66.24 | 30.15 | 25.78 | 57.28 | 18.90 | 56.85 | 107.69 | 22.21 | 49.97 | 103.2 | 17.67 | 51.67 | 107.88 | 8.40 | 51.35 | 52.73 | 3.77 | 53.25 | 59.07 | 0.21 | 5.0 | -22.22 | 25.30 | 40.4 | 85.89 | 124.18 | -7.87 | 9.15 | 85.03 | 4.57 | 2.29 | 14.97 | -19.89 | -11.27 | 18.21 | -9.76 | 4.96 |
| 23Q2 (15) | 1.60 | 17.65 | 8.11 | 23.97 | -2.88 | 7.44 | 12.05 | -9.67 | 7.97 | 14.81 | 2.28 | 14.01 | 11.65 | 1.92 | 15.81 | 5.55 | 20.13 | -2.29 | 2.46 | 17.14 | 5.58 | 0.20 | 17.65 | -9.09 | 18.02 | -1.8 | 12.34 | 134.79 | 0.07 | -25.37 | 81.32 | -11.81 | -4.92 | 18.68 | 139.74 | 29.07 | 20.18 | -7.18 | 8.79 |
| 23Q1 (14) | 1.36 | 0.0 | 70.0 | 24.68 | 6.06 | 30.79 | 13.34 | 21.83 | 112.42 | 14.48 | 19.37 | 82.83 | 11.43 | 20.32 | 93.73 | 4.62 | 12.41 | 53.49 | 2.10 | 7.69 | 52.17 | 0.17 | -15.0 | -22.73 | 18.35 | 18.54 | 66.97 | 134.69 | 5.05 | 6.02 | 92.21 | 2.29 | 13.9 | 7.79 | -20.96 | -63.64 | 21.74 | 16.88 | 2.4 |
| 22Q4 (13) | 1.36 | -13.38 | 34.65 | 23.27 | 21.39 | 0.69 | 10.95 | 20.33 | 19.15 | 12.13 | 10.98 | 17.88 | 9.50 | 11.76 | 21.79 | 4.11 | -25.27 | 4.85 | 1.95 | -17.72 | 5.41 | 0.20 | -25.93 | -13.04 | 15.48 | 13.74 | 16.3 | 128.21 | 12.69 | -2.5 | 90.14 | 8.43 | 1.65 | 9.86 | -41.55 | -12.91 | 18.60 | 7.2 | -9.84 |
| 22Q3 (12) | 1.57 | 6.08 | 84.71 | 19.17 | -14.07 | -8.76 | 9.10 | -18.46 | 3.53 | 10.93 | -15.86 | 11.99 | 8.50 | -15.51 | 14.09 | 5.50 | -3.17 | 59.42 | 2.37 | 1.72 | 40.24 | 0.27 | 22.73 | 22.73 | 13.61 | -15.15 | 4.53 | 113.77 | -37.0 | 5.95 | 83.13 | -2.8 | -8.55 | 16.87 | 16.54 | 85.54 | 17.35 | -6.47 | -19.08 |
| 22Q2 (11) | 1.48 | 85.0 | 40.95 | 22.31 | 18.23 | -9.71 | 11.16 | 77.71 | -8.0 | 12.99 | 64.02 | 0.23 | 10.06 | 70.51 | 1.21 | 5.68 | 88.7 | 32.71 | 2.33 | 68.84 | 8.88 | 0.22 | 0.0 | 4.76 | 16.04 | 45.95 | -2.61 | 180.60 | 42.16 | 53.17 | 85.53 | 5.65 | -9.44 | 14.47 | -32.46 | 160.53 | 18.55 | -12.62 | -14.91 |
| 22Q1 (10) | 0.80 | -20.79 | 122.22 | 18.87 | -18.35 | 7.22 | 6.28 | -31.66 | 60.61 | 7.92 | -23.03 | 54.99 | 5.90 | -24.36 | 58.18 | 3.01 | -23.21 | 109.03 | 1.38 | -25.41 | 68.29 | 0.22 | -4.35 | 10.0 | 10.99 | -17.43 | 25.89 | 127.04 | -3.39 | 35.38 | 80.95 | -8.71 | 2.54 | 21.43 | 89.29 | -18.57 | 21.23 | 2.91 | -14.19 |
| 21Q4 (9) | 1.01 | 18.82 | 1362.5 | 23.11 | 10.0 | 26.56 | 9.19 | 4.55 | 602.19 | 10.29 | 5.43 | 1613.24 | 7.80 | 4.7 | 966.67 | 3.92 | 13.62 | 1325.0 | 1.85 | 9.47 | 2742.86 | 0.23 | 4.55 | 35.29 | 13.31 | 2.23 | 243.93 | 131.50 | 22.46 | 47.79 | 88.68 | -2.45 | -70.44 | 11.32 | 24.53 | 105.66 | 20.63 | -3.78 | -39.36 |
| 21Q3 (8) | 0.85 | -19.05 | -18.27 | 21.01 | -14.97 | -4.63 | 8.79 | -27.54 | 34.82 | 9.76 | -24.69 | -30.63 | 7.45 | -25.05 | -39.68 | 3.45 | -19.39 | -29.16 | 1.69 | -21.03 | -20.66 | 0.22 | 4.76 | 37.5 | 13.02 | -20.95 | -29.92 | 107.38 | -8.93 | -15.91 | 90.91 | -3.74 | 100.96 | 9.09 | 63.64 | -82.64 | 21.44 | -1.65 | -16.51 |
| 21Q2 (7) | 1.05 | 191.67 | -17.97 | 24.71 | 40.4 | -6.68 | 12.13 | 210.23 | -17.54 | 12.96 | 153.62 | -20.54 | 9.94 | 166.49 | -23.83 | 4.28 | 197.22 | -29.84 | 2.14 | 160.98 | -18.32 | 0.21 | 5.0 | 10.53 | 16.47 | 88.66 | -18.59 | 117.91 | 25.65 | -21.86 | 94.44 | 19.63 | 3.7 | 5.56 | -78.89 | -48.15 | 21.80 | -11.88 | 0 |
| 21Q1 (6) | 0.36 | 550.0 | 325.0 | 17.60 | -3.61 | 127.98 | 3.91 | 313.66 | 200.51 | 5.11 | 851.47 | 344.5 | 3.73 | 514.44 | 322.02 | 1.44 | 550.0 | 287.01 | 0.82 | 1271.43 | 428.0 | 0.20 | 17.65 | 0.0 | 8.73 | 125.58 | 401.72 | 93.84 | 5.46 | -29.61 | 78.95 | -73.68 | -57.49 | 26.32 | 113.16 | 130.7 | 24.74 | -27.28 | 18.15 |
| 20Q4 (5) | -0.08 | -107.69 | -122.86 | 18.26 | -17.11 | 14.99 | -1.83 | -128.07 | -175.62 | -0.68 | -104.83 | -114.38 | -0.90 | -107.29 | -123.75 | -0.32 | -106.57 | -119.51 | -0.07 | -103.29 | -109.09 | 0.17 | 6.25 | 0.0 | 3.87 | -79.17 | -59.56 | 88.98 | -30.32 | -32.69 | 300.00 | 563.16 | 462.5 | -200.00 | -481.82 | -528.57 | 34.02 | 32.48 | 65.39 |
| 20Q3 (4) | 1.04 | -18.75 | 0.0 | 22.03 | -16.81 | 0.0 | 6.52 | -55.68 | 0.0 | 14.07 | -13.73 | 0.0 | 12.35 | -5.36 | 0.0 | 4.87 | -20.16 | 0.0 | 2.13 | -18.7 | 0.0 | 0.16 | -15.79 | 0.0 | 18.58 | -8.16 | 0.0 | 127.70 | -15.37 | 0.0 | 45.24 | -50.33 | 0.0 | 52.38 | 388.89 | 0.0 | 25.68 | 0 | 0.0 |
| 20Q2 (3) | 1.28 | 900.0 | 0.0 | 26.48 | 243.01 | 0.0 | 14.71 | 478.15 | 0.0 | 16.31 | 880.38 | 0.0 | 13.05 | 876.79 | 0.0 | 6.10 | 892.21 | 0.0 | 2.62 | 1148.0 | 0.0 | 0.19 | -5.0 | 0.0 | 20.23 | 1062.64 | 0.0 | 150.89 | 13.19 | 0.0 | 91.07 | -50.96 | 0.0 | 10.71 | 112.5 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | -0.16 | -145.71 | 0.0 | 7.72 | -51.39 | 0.0 | -3.89 | -260.74 | 0.0 | -2.09 | -144.19 | 0.0 | -1.68 | -144.33 | 0.0 | -0.77 | -146.95 | 0.0 | -0.25 | -132.47 | 0.0 | 0.20 | 17.65 | 0.0 | 1.74 | -81.82 | 0.0 | 133.31 | 0.84 | 0.0 | 185.71 | 248.21 | 0.0 | -85.71 | -283.67 | 0.0 | 20.94 | 1.8 | 0.0 |
| 19Q4 (1) | 0.35 | 0.0 | 0.0 | 15.88 | 0.0 | 0.0 | 2.42 | 0.0 | 0.0 | 4.73 | 0.0 | 0.0 | 3.79 | 0.0 | 0.0 | 1.64 | 0.0 | 0.0 | 0.77 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 9.57 | 0.0 | 0.0 | 132.20 | 0.0 | 0.0 | 53.33 | 0.0 | 0.0 | 46.67 | 0.0 | 0.0 | 20.57 | 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) | 7.17 | 40.31 | 26.73 | 28.32 | 14.84 | 57.54 | 2.65 | 10.9 | 16.61 | 50.32 | 13.30 | 55.74 | 22.10 | 26.94 | 10.35 | 30.85 | 0.75 | -15.73 | 20.06 | 42.57 | 115.87 | -9.62 | 89.28 | 5.05 | 10.72 | -26.81 | 0.12 | -22.76 | 20.14 | 7.24 |
| 2022 (9) | 5.11 | 56.27 | 20.83 | -4.32 | 9.42 | 8.9 | 2.39 | -15.77 | 11.05 | 14.27 | 8.54 | 16.35 | 17.41 | 35.07 | 7.91 | 24.37 | 0.89 | 7.23 | 14.07 | 7.73 | 128.21 | -2.5 | 84.98 | -4.95 | 14.65 | 38.38 | 0.16 | -5.27 | 18.78 | -14.64 |
| 2021 (8) | 3.27 | 60.29 | 21.77 | 17.55 | 8.65 | 118.99 | 2.84 | -16.37 | 9.67 | 41.17 | 7.34 | 29.91 | 12.89 | 52.0 | 6.36 | 43.57 | 0.83 | 15.28 | 13.06 | 18.4 | 131.50 | 47.79 | 89.41 | 56.03 | 10.59 | -75.2 | 0.17 | -23.4 | 22.00 | -12.91 |
| 2020 (7) | 2.04 | 77.39 | 18.52 | 30.7 | 3.95 | 265.74 | 3.40 | -3.94 | 6.85 | 69.55 | 5.65 | 75.47 | 8.48 | 64.98 | 4.43 | 61.68 | 0.72 | -2.7 | 11.03 | 32.1 | 88.98 | -32.69 | 57.30 | 120.4 | 42.70 | -42.3 | 0.22 | 90.85 | 25.26 | 20.92 |
| 2019 (6) | 1.15 | -64.51 | 14.17 | -41.9 | 1.08 | -89.28 | 3.53 | -9.02 | 4.04 | -68.85 | 3.22 | -68.65 | 5.14 | -63.1 | 2.74 | -61.02 | 0.74 | 15.62 | 8.35 | -53.17 | 132.20 | 28.62 | 26.00 | -66.53 | 74.00 | 231.72 | 0.11 | -53.4 | 20.89 | -10.65 |
| 2018 (5) | 3.24 | -17.14 | 24.39 | -13.79 | 10.07 | -32.28 | 3.88 | 24.44 | 12.97 | -20.77 | 10.27 | -21.0 | 13.93 | -27.37 | 7.03 | -12.02 | 0.64 | 10.34 | 17.83 | -14.61 | 102.78 | -14.19 | 77.69 | -14.43 | 22.31 | 142.2 | 0.24 | 0 | 23.38 | -4.02 |
| 2017 (4) | 3.91 | 13.01 | 28.29 | 34.46 | 14.87 | 28.97 | 3.12 | 179.13 | 16.37 | 45.77 | 13.00 | 43.65 | 19.18 | 1.16 | 7.99 | 2.7 | 0.58 | -30.95 | 20.88 | 61.24 | 119.77 | -39.78 | 90.79 | -12.14 | 9.21 | 0 | 0.00 | 0 | 24.36 | 26.41 |
| 2016 (3) | 3.46 | -8.22 | 21.04 | 1.5 | 11.53 | 0.35 | 1.12 | 141.57 | 11.23 | -2.6 | 9.05 | -7.37 | 18.96 | -28.96 | 7.78 | -47.68 | 0.84 | -44.0 | 12.95 | 3.6 | 198.89 | 132.65 | 103.33 | 4.17 | -2.50 | 0 | 0.00 | 0 | 19.27 | 24.08 |
| 2015 (2) | 3.77 | -41.55 | 20.73 | -36.33 | 11.49 | -32.77 | 0.46 | 16.67 | 11.53 | -33.54 | 9.77 | -32.48 | 26.69 | -23.98 | 14.87 | -23.23 | 1.50 | 12.78 | 12.50 | -30.52 | 85.49 | 11.8 | 99.20 | 0.74 | 0.00 | 0 | 0.00 | 0 | 15.53 | -16.42 |
| 2014 (1) | 6.45 | 0 | 32.56 | 0 | 17.09 | 0 | 0.40 | 0 | 17.35 | 0 | 14.47 | 0 | 35.11 | 0 | 19.37 | 0 | 1.33 | 0 | 17.99 | 0 | 76.47 | -14.22 | 98.47 | 0 | 1.53 | 0 | 0.00 | 0 | 18.58 | 0 |
