- 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) | 1.51 | -37.86 | -49.16 | 42.72 | 1.71 | 10.42 | 19.69 | -8.21 | 3.2 | 18.87 | -31.66 | -49.67 | 15.66 | -30.18 | -49.66 | 1.59 | -37.4 | -52.4 | 1.50 | -35.34 | -52.98 | 0.10 | 0.0 | 0.0 | 20.66 | -29.39 | -47.38 | 5.74 | -22.85 | 20.59 | 104.08 | 34.06 | 103.92 | -4.08 | -118.25 | -108.34 | 6.69 | -9.96 | -7.85 |
| 24Q2 (19) | 2.43 | -15.03 | 32.07 | 42.00 | 6.09 | 7.72 | 21.45 | 36.8 | 22.43 | 27.61 | -24.48 | 6.4 | 22.43 | -27.03 | 0.85 | 2.54 | -15.33 | 15.98 | 2.32 | -15.94 | 17.77 | 0.10 | 11.11 | 11.11 | 29.26 | -23.96 | 4.54 | 7.44 | -36.57 | 48.5 | 77.64 | 81.16 | 14.47 | 22.36 | -60.87 | -30.5 | 7.43 | -12.17 | -1.85 |
| 24Q1 (18) | 2.86 | 150.88 | 183.17 | 39.59 | -7.33 | 0.15 | 15.68 | -30.62 | -12.3 | 36.56 | 208.52 | 96.24 | 30.74 | 168.71 | 100.0 | 3.00 | 147.93 | 158.62 | 2.76 | 137.93 | 162.86 | 0.09 | -10.0 | 28.57 | 38.48 | 180.88 | 80.07 | 11.73 | 126.01 | -30.84 | 42.86 | -77.5 | -55.78 | 57.14 | 163.16 | 1138.1 | 8.46 | 58.43 | -2.76 |
| 23Q4 (17) | 1.14 | -61.62 | 52.0 | 42.72 | 10.42 | 7.53 | 22.60 | 18.45 | 13.57 | 11.85 | -68.39 | -10.3 | 11.44 | -63.23 | 4.47 | 1.21 | -63.77 | 59.21 | 1.16 | -63.64 | 61.11 | 0.10 | 0.0 | 42.86 | 13.70 | -65.1 | -10.4 | 5.19 | 9.03 | -2.26 | 190.48 | 273.18 | 26.05 | -90.48 | -284.8 | -77.02 | 5.34 | -26.45 | -21.35 |
| 23Q3 (16) | 2.97 | 61.41 | 14.67 | 38.69 | -0.77 | -3.85 | 19.08 | 8.9 | 26.44 | 37.49 | 44.47 | 5.84 | 31.11 | 39.88 | 3.42 | 3.34 | 52.51 | 18.02 | 3.19 | 61.93 | 20.83 | 0.10 | 11.11 | 11.11 | 39.26 | 40.26 | 6.54 | 4.76 | -4.99 | -19.59 | 51.04 | -24.75 | 19.58 | 48.96 | 52.17 | -14.58 | 7.26 | -4.1 | -14.69 |
| 23Q2 (15) | 1.84 | 82.18 | -44.41 | 38.99 | -1.37 | -14.14 | 17.52 | -2.01 | -40.43 | 25.95 | 39.29 | -14.53 | 22.24 | 44.7 | -7.49 | 2.19 | 88.79 | -51.76 | 1.97 | 87.62 | -49.36 | 0.09 | 28.57 | -43.75 | 27.99 | 30.98 | -10.94 | 5.01 | -70.46 | -45.37 | 67.83 | -30.02 | -30.1 | 32.17 | 597.1 | 983.19 | 7.57 | -12.99 | 8.76 |
| 23Q1 (14) | 1.01 | 34.67 | -76.24 | 39.53 | -0.5 | -11.9 | 17.88 | -10.15 | -32.48 | 18.63 | 41.03 | -43.89 | 15.37 | 40.37 | -41.93 | 1.16 | 52.63 | -87.11 | 1.05 | 45.83 | -84.42 | 0.07 | 0.0 | -72.0 | 21.37 | 39.76 | -37.55 | 16.96 | 219.4 | -52.21 | 96.92 | -35.86 | 21.83 | 4.62 | 109.03 | -77.42 | 8.70 | 28.13 | -15.12 |
| 22Q4 (13) | 0.75 | -71.04 | -79.11 | 39.73 | -1.27 | -3.0 | 19.90 | 31.88 | -27.79 | 13.21 | -62.7 | -53.42 | 10.95 | -63.6 | -52.98 | 0.76 | -73.14 | -91.14 | 0.72 | -72.73 | -89.11 | 0.07 | -22.22 | -75.0 | 15.29 | -58.51 | -48.15 | 5.31 | -10.3 | -83.38 | 151.11 | 254.03 | 55.38 | -51.11 | -189.17 | -1960.44 | 6.79 | -20.21 | 65.61 |
| 22Q3 (12) | 2.59 | -21.75 | -40.87 | 40.24 | -11.39 | -3.85 | 15.09 | -48.69 | -48.06 | 35.42 | 16.67 | 19.91 | 30.08 | 25.12 | 23.33 | 2.83 | -37.67 | -74.87 | 2.64 | -32.13 | -69.97 | 0.09 | -43.75 | -75.0 | 36.85 | 17.24 | 20.7 | 5.92 | -35.44 | -78.72 | 42.68 | -56.01 | -56.53 | 57.32 | 1829.67 | 3081.1 | 8.51 | 22.27 | 63.34 |
| 22Q2 (11) | 3.31 | -22.12 | -17.87 | 45.41 | 1.2 | 9.79 | 29.41 | 11.06 | 1.55 | 30.36 | -8.55 | 8.97 | 24.04 | -9.18 | 3.75 | 4.54 | -49.56 | -58.95 | 3.89 | -42.28 | -54.77 | 0.16 | -36.0 | -56.76 | 31.43 | -8.15 | 8.87 | 9.17 | -74.16 | -68.04 | 97.03 | 21.96 | -6.67 | 2.97 | -85.47 | 175.0 | 6.96 | -32.1 | -8.54 |
| 22Q1 (10) | 4.25 | 18.38 | 38.44 | 44.87 | 9.55 | 17.55 | 26.48 | -3.92 | 8.88 | 33.20 | 17.07 | 35.84 | 26.47 | 13.65 | 30.91 | 9.00 | 4.9 | -5.06 | 6.74 | 1.97 | -8.42 | 0.25 | -10.71 | -30.56 | 34.22 | 16.04 | 33.41 | 35.49 | 11.08 | 22.8 | 79.56 | -18.2 | -20.44 | 20.44 | 644.18 | 2987.11 | 10.25 | 150.0 | 42.56 |
| 21Q4 (9) | 3.59 | -18.04 | 47.13 | 40.96 | -2.13 | 14.93 | 27.56 | -5.13 | 22.05 | 28.36 | -3.99 | 27.69 | 23.29 | -4.51 | 33.47 | 8.58 | -23.8 | 0.59 | 6.61 | -24.8 | -1.49 | 0.28 | -22.22 | -26.32 | 29.49 | -3.41 | 25.65 | 31.95 | 14.85 | 10.32 | 97.25 | -0.96 | -4.26 | 2.75 | 52.47 | 274.45 | 4.10 | -21.31 | -6.39 |
| 21Q3 (8) | 4.38 | 8.68 | 115.76 | 41.85 | 1.18 | 23.56 | 29.05 | 0.31 | 39.87 | 29.54 | 6.03 | 45.23 | 24.39 | 5.27 | 53.11 | 11.26 | 1.81 | 43.62 | 8.79 | 2.21 | 45.53 | 0.36 | -2.7 | -5.26 | 30.53 | 5.75 | 40.95 | 27.82 | -3.03 | 8.88 | 98.20 | -5.54 | -3.64 | 1.80 | 145.5 | 194.59 | 5.21 | -31.54 | 21.16 |
| 21Q2 (7) | 4.03 | 31.27 | 137.06 | 41.36 | 8.36 | 22.15 | 28.96 | 19.08 | 45.97 | 27.86 | 13.99 | 49.14 | 23.17 | 14.59 | 49.0 | 11.06 | 16.67 | 69.11 | 8.60 | 16.85 | 68.3 | 0.37 | 2.78 | 12.12 | 28.87 | 12.55 | 42.43 | 28.69 | -0.73 | -17.86 | 103.96 | 3.96 | -1.95 | -3.96 | -698.02 | 34.26 | 7.61 | 5.84 | 0 |
| 21Q1 (6) | 3.07 | 25.82 | 119.29 | 38.17 | 7.1 | 13.94 | 24.32 | 7.71 | 32.97 | 24.44 | 10.04 | 28.5 | 20.22 | 15.87 | 28.71 | 9.48 | 11.14 | 79.21 | 7.36 | 9.69 | 67.65 | 0.36 | -5.26 | 28.57 | 25.65 | 9.29 | 22.26 | 28.90 | -0.21 | 31.6 | 100.00 | -1.55 | 4.48 | 0.66 | 142.05 | -84.55 | 7.19 | 64.16 | 21.25 |
| 20Q4 (5) | 2.44 | 20.2 | 117.86 | 35.64 | 5.23 | 14.08 | 22.58 | 8.71 | 34.24 | 22.21 | 9.19 | 58.3 | 17.45 | 9.54 | 50.04 | 8.53 | 8.8 | 101.18 | 6.71 | 11.09 | 88.48 | 0.38 | 0.0 | 22.58 | 23.47 | 8.36 | 48.17 | 28.96 | 13.35 | 51.15 | 101.57 | -0.32 | -15.61 | -1.57 | 17.32 | 92.27 | 4.38 | 1.86 | 1.62 |
| 20Q3 (4) | 2.03 | 19.41 | 0.0 | 33.87 | 0.03 | 0.0 | 20.77 | 4.69 | 0.0 | 20.34 | 8.89 | 0.0 | 15.93 | 2.44 | 0.0 | 7.84 | 19.88 | 0.0 | 6.04 | 18.2 | 0.0 | 0.38 | 15.15 | 0.0 | 21.66 | 6.86 | 0.0 | 25.55 | -26.85 | 0.0 | 101.90 | -3.89 | 0.0 | -1.90 | 68.38 | 0.0 | 4.30 | 0 | 0.0 |
| 20Q2 (3) | 1.70 | 21.43 | 0.0 | 33.86 | 1.07 | 0.0 | 19.84 | 8.47 | 0.0 | 18.68 | -1.79 | 0.0 | 15.55 | -1.02 | 0.0 | 6.54 | 23.63 | 0.0 | 5.11 | 16.4 | 0.0 | 0.33 | 17.86 | 0.0 | 20.27 | -3.38 | 0.0 | 34.93 | 59.06 | 0.0 | 106.02 | 10.77 | 0.0 | -6.02 | -240.56 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 1.40 | 25.0 | 0.0 | 33.50 | 7.23 | 0.0 | 18.29 | 8.74 | 0.0 | 19.02 | 35.57 | 0.0 | 15.71 | 35.08 | 0.0 | 5.29 | 24.76 | 0.0 | 4.39 | 23.31 | 0.0 | 0.28 | -9.68 | 0.0 | 20.98 | 32.45 | 0.0 | 21.96 | 14.61 | 0.0 | 95.71 | -20.48 | 0.0 | 4.29 | 121.04 | 0.0 | 5.93 | 37.59 | 0.0 |
| 19Q4 (1) | 1.12 | 0.0 | 0.0 | 31.24 | 0.0 | 0.0 | 16.82 | 0.0 | 0.0 | 14.03 | 0.0 | 0.0 | 11.63 | 0.0 | 0.0 | 4.24 | 0.0 | 0.0 | 3.56 | 0.0 | 0.0 | 0.31 | 0.0 | 0.0 | 15.84 | 0.0 | 0.0 | 19.16 | 0.0 | 0.0 | 120.37 | 0.0 | 0.0 | -20.37 | 0.0 | 0.0 | 4.31 | 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) | 6.95 | -33.17 | 40.09 | -7.26 | 19.50 | -18.38 | 1.47 | 25.96 | 23.68 | -20.11 | 20.26 | -15.72 | 7.53 | -51.07 | 7.16 | -47.66 | 0.35 | -38.6 | 25.71 | -17.04 | 5.19 | -2.26 | 82.34 | 2.08 | 17.66 | -8.68 | 0.19 | 36.8 | 7.05 | -15.16 |
| 2022 (9) | 10.40 | -30.94 | 43.23 | 6.27 | 23.89 | -13.47 | 1.16 | 22.54 | 29.64 | 7.16 | 24.04 | 5.16 | 15.39 | -61.85 | 13.68 | -55.7 | 0.57 | -57.78 | 30.99 | 7.68 | 5.31 | -83.38 | 80.66 | -19.13 | 19.34 | 7220.05 | 0.14 | 68.38 | 8.31 | 37.81 |
| 2021 (8) | 15.06 | 98.94 | 40.68 | 18.5 | 27.61 | 33.9 | 0.95 | -24.82 | 27.66 | 36.53 | 22.86 | 40.59 | 40.34 | 51.6 | 30.88 | 44.16 | 1.35 | 2.27 | 28.78 | 32.57 | 31.95 | 10.32 | 99.74 | -1.79 | 0.26 | 0 | 0.08 | -67.4 | 6.03 | 24.33 |
| 2020 (7) | 7.57 | 86.45 | 34.33 | 13.19 | 20.62 | 44.5 | 1.26 | -23.31 | 20.26 | 47.78 | 16.26 | 39.57 | 26.61 | 43.06 | 21.42 | 43.37 | 1.32 | 3.13 | 21.71 | 38.9 | 28.96 | 51.15 | 101.56 | -2.52 | -1.82 | 0 | 0.25 | -54.11 | 4.85 | -16.67 |
| 2019 (6) | 4.06 | 38.1 | 30.33 | 6.72 | 14.27 | 30.68 | 1.65 | 21.24 | 13.71 | 21.87 | 11.65 | 17.68 | 18.60 | 0.11 | 14.94 | 9.05 | 1.28 | -7.25 | 15.63 | 23.17 | 19.16 | -44.09 | 104.19 | 6.77 | -4.19 | 0 | 0.54 | -30.12 | 5.82 | -5.06 |
| 2018 (5) | 2.94 | 191.09 | 28.42 | 16.24 | 10.92 | 134.84 | 1.36 | -22.26 | 11.25 | 151.68 | 9.90 | 106.68 | 18.58 | 137.9 | 13.70 | 138.68 | 1.38 | 16.95 | 12.69 | 93.45 | 34.27 | -10.62 | 97.58 | -5.47 | 3.23 | 0 | 0.78 | 0 | 6.13 | -20.7 |
| 2017 (4) | 1.01 | 140.48 | 24.45 | 11.59 | 4.65 | 187.04 | 1.75 | -10.79 | 4.47 | 110.85 | 4.79 | 125.94 | 7.81 | 94.76 | 5.74 | 93.27 | 1.18 | -9.23 | 6.56 | 33.88 | 38.34 | 2.27 | 103.23 | 41.94 | -3.23 | 0 | 0.00 | 0 | 7.73 | -5.5 |
| 2016 (3) | 0.42 | 162.5 | 21.91 | 8.25 | 1.62 | 138.24 | 1.96 | -22.0 | 2.12 | 94.5 | 2.12 | 94.5 | 4.01 | 106.7 | 2.97 | 84.47 | 1.30 | 12.07 | 4.90 | 3.16 | 37.49 | -37.2 | 72.73 | 45.45 | 27.27 | 9.09 | 0.00 | 0 | 8.18 | -19.49 |
| 2015 (2) | 0.16 | 0 | 20.24 | -5.73 | 0.68 | 0 | 2.51 | -18.92 | 1.09 | 0 | 1.09 | 0 | 1.94 | 0 | 1.61 | 0 | 1.16 | 22.11 | 4.75 | 309.48 | 59.70 | 25.82 | 50.00 | -75.0 | 25.00 | 0 | 0.00 | 0 | 10.16 | -22.62 |
| 2014 (1) | -0.38 | 0 | 21.47 | 0 | -7.10 | 0 | 3.10 | 0 | -3.63 | 0 | -3.63 | 0 | -4.63 | 0 | -2.99 | 0 | 0.95 | 0 | 1.16 | 0 | 47.45 | 108.02 | 200.00 | 0 | -100.00 | 0 | 0.00 | 0 | 13.13 | 0 |
