- 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) | 4.00 | 2.04 | 3.36 | 54.86 | 16.87 | 9.2 | 28.96 | 10.03 | 14.29 | 29.52 | -7.58 | -21.64 | 24.02 | -11.4 | -20.62 | 4.64 | 0.87 | -7.75 | 3.82 | -0.78 | -7.06 | 0.16 | 14.29 | 14.29 | 33.26 | -7.53 | -21.48 | 19.31 | -20.24 | 21.75 | 98.50 | 19.53 | 46.63 | 2.26 | -87.18 | -93.13 | 25.38 | 1.08 | 0.4 |
| 24Q2 (19) | 3.92 | -11.31 | 45.19 | 46.94 | -5.86 | -7.2 | 26.32 | -12.67 | -6.57 | 31.94 | -19.81 | 9.65 | 27.11 | -13.77 | 28.24 | 4.60 | -12.21 | 32.18 | 3.85 | -15.2 | 36.52 | 0.14 | 0.0 | 7.69 | 35.97 | -18.42 | 5.18 | 24.21 | 62.05 | -18.02 | 82.40 | 8.91 | -14.2 | 17.60 | -27.7 | 492.53 | 25.11 | 5.77 | 2.78 |
| 24Q1 (18) | 4.42 | 49.32 | 24.86 | 49.86 | -1.56 | 2.23 | 30.14 | -15.88 | -1.63 | 39.83 | 47.57 | 25.53 | 31.44 | 35.28 | 22.05 | 5.24 | 42.39 | 15.42 | 4.54 | 42.77 | 18.23 | 0.14 | 0.0 | -6.67 | 44.09 | 38.69 | 21.49 | 14.94 | -7.26 | -16.91 | 75.66 | -43.26 | -21.69 | 24.34 | 173.03 | 618.09 | 23.74 | 3.8 | 4.95 |
| 23Q4 (17) | 2.96 | -23.51 | -2.95 | 50.65 | 0.82 | 2.36 | 35.83 | 41.4 | 26.47 | 26.99 | -28.35 | 6.89 | 23.24 | -23.2 | 5.83 | 3.68 | -26.84 | -10.02 | 3.18 | -22.63 | -5.36 | 0.14 | 0.0 | -6.67 | 31.79 | -24.95 | 5.79 | 16.11 | 1.58 | -16.05 | 133.33 | 98.48 | 19.5 | -33.33 | -201.55 | -163.89 | 22.87 | -9.53 | -1.93 |
| 23Q3 (16) | 3.87 | 43.33 | 0.0 | 50.24 | -0.67 | 11.82 | 25.34 | -10.05 | 6.07 | 37.67 | 29.32 | 14.6 | 30.26 | 43.14 | 14.58 | 5.03 | 44.54 | -7.71 | 4.11 | 45.74 | -1.91 | 0.14 | 7.69 | -12.5 | 42.36 | 23.86 | 13.35 | 15.86 | -46.29 | -35.53 | 67.18 | -30.05 | -8.08 | 32.82 | 1005.09 | 18.53 | 25.28 | 3.48 | 17.31 |
| 23Q2 (15) | 2.70 | -23.73 | -31.12 | 50.58 | 3.71 | -2.82 | 28.17 | -8.06 | -13.88 | 29.13 | -8.19 | -22.03 | 21.14 | -17.93 | -22.48 | 3.48 | -23.35 | -37.07 | 2.82 | -26.56 | -34.57 | 0.13 | -13.33 | -18.75 | 34.20 | -5.76 | -18.16 | 29.53 | 64.24 | -17.84 | 96.04 | -0.59 | 10.41 | 2.97 | -12.38 | -75.91 | 24.43 | 8.0 | 13.47 |
| 23Q1 (14) | 3.54 | 16.07 | -15.11 | 48.77 | -1.43 | -1.08 | 30.64 | 8.15 | -4.76 | 31.73 | 25.66 | -18.01 | 25.76 | 17.3 | -16.2 | 4.54 | 11.0 | -23.05 | 3.84 | 14.29 | -20.5 | 0.15 | 0.0 | -6.25 | 36.29 | 20.77 | -16.01 | 17.98 | -6.31 | -16.41 | 96.61 | -13.42 | 16.26 | 3.39 | 126.84 | -79.94 | 22.62 | -3.0 | 3.71 |
| 22Q4 (13) | 3.05 | -21.19 | -19.95 | 49.48 | 10.13 | -5.32 | 28.33 | 18.59 | -15.36 | 25.25 | -23.18 | -23.55 | 21.96 | -16.85 | -21.77 | 4.09 | -24.95 | -28.62 | 3.36 | -19.81 | -27.11 | 0.15 | -6.25 | -6.25 | 30.05 | -19.59 | -19.29 | 19.19 | -21.99 | -15.72 | 111.58 | 52.69 | 9.76 | -12.63 | -145.61 | -664.21 | 23.32 | 8.21 | 11.9 |
| 22Q3 (12) | 3.87 | -1.28 | 3.2 | 44.93 | -13.68 | -14.4 | 23.89 | -26.96 | -31.86 | 32.87 | -12.02 | -6.25 | 26.41 | -3.15 | 0.3 | 5.45 | -1.45 | -5.05 | 4.19 | -2.78 | -7.3 | 0.16 | 0.0 | -5.88 | 37.37 | -10.58 | -3.83 | 24.60 | -31.55 | -5.6 | 73.08 | -15.99 | -26.92 | 27.69 | 124.62 | 0 | 21.55 | 0.09 | 7.27 |
| 22Q2 (11) | 3.92 | -6.0 | 1.03 | 52.05 | 5.58 | -3.97 | 32.71 | 1.68 | -14.44 | 37.36 | -3.46 | 7.11 | 27.27 | -11.29 | -1.73 | 5.53 | -6.27 | -8.44 | 4.31 | -10.77 | -7.11 | 0.16 | 0.0 | -5.88 | 41.79 | -3.29 | 8.21 | 35.94 | 67.09 | 27.76 | 86.99 | 4.68 | -20.81 | 12.33 | -27.05 | 225.18 | 21.53 | -1.28 | 5.75 |
| 22Q1 (10) | 4.17 | 9.45 | 2.71 | 49.30 | -5.66 | -16.17 | 32.17 | -3.88 | -18.29 | 38.70 | 17.17 | -1.9 | 30.74 | 9.51 | -2.1 | 5.90 | 2.97 | -12.46 | 4.83 | 4.77 | -3.78 | 0.16 | 0.0 | 0.0 | 43.21 | 16.06 | -0.51 | 21.51 | -5.53 | -33.26 | 83.10 | -18.25 | -16.9 | 16.90 | 1122.54 | 0 | 21.81 | 4.65 | -5.79 |
| 21Q4 (9) | 3.81 | 1.6 | 16.87 | 52.26 | -0.44 | -10.27 | 33.47 | -4.54 | 4.3 | 33.03 | -5.79 | 11.55 | 28.07 | 6.61 | 9.56 | 5.73 | -0.17 | -0.52 | 4.61 | 1.99 | 7.46 | 0.16 | -5.88 | -5.88 | 37.23 | -4.19 | 11.37 | 22.77 | -12.62 | -38.18 | 101.65 | 1.65 | -5.74 | -1.65 | 0 | 81.27 | 20.84 | 3.73 | -6.67 |
| 21Q3 (8) | 3.75 | -3.35 | 3.02 | 52.49 | -3.15 | -5.36 | 35.06 | -8.29 | -9.01 | 35.06 | 0.52 | -2.58 | 26.33 | -5.12 | -8.54 | 5.74 | -4.97 | -16.33 | 4.52 | -2.59 | -11.02 | 0.17 | 0.0 | -5.56 | 38.86 | 0.62 | -2.7 | 26.06 | -7.36 | -17.03 | 100.00 | -8.97 | -6.82 | 0.00 | 100.0 | 100.0 | 20.09 | -1.33 | -0.59 |
| 21Q2 (7) | 3.88 | -4.43 | 32.88 | 54.20 | -7.84 | -5.64 | 38.23 | -2.9 | 2.14 | 34.88 | -11.58 | 0.63 | 27.75 | -11.62 | 3.62 | 6.04 | -10.39 | 7.47 | 4.64 | -7.57 | 8.41 | 0.17 | 6.25 | 6.25 | 38.62 | -11.08 | -0.05 | 28.13 | -12.72 | -27.78 | 109.85 | 9.85 | 1.86 | -9.85 | 0 | -25.57 | 20.36 | -12.05 | 0 |
| 21Q1 (6) | 4.06 | 24.54 | 61.11 | 58.81 | 0.98 | 0.31 | 39.37 | 22.69 | 16.44 | 39.45 | 33.23 | 14.12 | 31.40 | 22.56 | 13.69 | 6.74 | 17.01 | 36.99 | 5.02 | 17.02 | 24.88 | 0.16 | -5.88 | 6.67 | 43.43 | 29.91 | 11.73 | 32.23 | -12.49 | 32.8 | 100.00 | -7.27 | 2.41 | 0.00 | 100.0 | -100.0 | 23.15 | 3.67 | 0 |
| 20Q4 (5) | 3.26 | -10.44 | 76.22 | 58.24 | 5.01 | -0.26 | 32.09 | -16.71 | 2.43 | 29.61 | -17.73 | 20.41 | 25.62 | -11.01 | 10.77 | 5.76 | -16.03 | 56.95 | 4.29 | -15.55 | 37.94 | 0.17 | -5.56 | 30.77 | 33.43 | -16.3 | 15.63 | 36.83 | 17.26 | 78.87 | 107.84 | 0.49 | -15.03 | -8.82 | -20.59 | 67.23 | 22.33 | 10.49 | -18.71 |
| 20Q3 (4) | 3.64 | 24.66 | 0.0 | 55.46 | -3.45 | 0.0 | 38.53 | 2.94 | 0.0 | 35.99 | 3.84 | 0.0 | 28.79 | 7.51 | 0.0 | 6.86 | 22.06 | 0.0 | 5.08 | 18.69 | 0.0 | 0.18 | 12.5 | 0.0 | 39.94 | 3.36 | 0.0 | 31.41 | -19.36 | 0.0 | 107.32 | -0.49 | 0.0 | -7.32 | 6.71 | 0.0 | 20.21 | 0 | 0.0 |
| 20Q2 (3) | 2.92 | 15.87 | 0.0 | 57.44 | -2.03 | 0.0 | 37.43 | 10.71 | 0.0 | 34.66 | 0.26 | 0.0 | 26.78 | -3.04 | 0.0 | 5.62 | 14.23 | 0.0 | 4.28 | 6.47 | 0.0 | 0.16 | 6.67 | 0.0 | 38.64 | -0.59 | 0.0 | 38.95 | 60.49 | 0.0 | 107.84 | 10.44 | 0.0 | -7.84 | -433.33 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 2.52 | 36.22 | 0.0 | 58.63 | 0.41 | 0.0 | 33.81 | 7.92 | 0.0 | 34.57 | 40.59 | 0.0 | 27.62 | 19.41 | 0.0 | 4.92 | 34.06 | 0.0 | 4.02 | 29.26 | 0.0 | 0.15 | 15.38 | 0.0 | 38.87 | 34.45 | 0.0 | 24.27 | 17.87 | 0.0 | 97.65 | -23.07 | 0.0 | 2.35 | 108.74 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 1.85 | 0.0 | 0.0 | 58.39 | 0.0 | 0.0 | 31.33 | 0.0 | 0.0 | 24.59 | 0.0 | 0.0 | 23.13 | 0.0 | 0.0 | 3.67 | 0.0 | 0.0 | 3.11 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 28.91 | 0.0 | 0.0 | 20.59 | 0.0 | 0.0 | 126.92 | 0.0 | 0.0 | -26.92 | 0.0 | 0.0 | 27.47 | 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) | 13.07 | -12.92 | 50.03 | 2.29 | 30.00 | 2.67 | 3.97 | 19.07 | 31.39 | -6.41 | 25.12 | -5.49 | 16.54 | -20.21 | 14.08 | -17.95 | 0.56 | -13.85 | 36.24 | -4.96 | 16.11 | -16.05 | 95.49 | 9.58 | 4.51 | -64.91 | 0.19 | -47.11 | 23.78 | 7.89 |
| 2022 (9) | 15.01 | -3.16 | 48.91 | -10.03 | 29.22 | -19.92 | 3.34 | 17.7 | 33.54 | -5.65 | 26.58 | -6.18 | 20.73 | -15.15 | 17.16 | -9.25 | 0.65 | -2.99 | 38.13 | -3.39 | 19.19 | -15.72 | 87.13 | -15.12 | 12.87 | 0 | 0.37 | -47.73 | 22.04 | 4.6 |
| 2021 (8) | 15.50 | 25.61 | 54.36 | -5.21 | 36.49 | 2.76 | 2.83 | -3.25 | 35.55 | 5.8 | 28.33 | 4.23 | 24.43 | 7.06 | 18.91 | 7.14 | 0.67 | 3.08 | 39.47 | 5.0 | 22.77 | -38.18 | 102.66 | -2.76 | -2.66 | 0 | 0.70 | -34.27 | 21.07 | -9.61 |
| 2020 (7) | 12.34 | 57.2 | 57.35 | 4.75 | 35.51 | 11.88 | 2.93 | -16.77 | 33.60 | 9.59 | 27.18 | 8.29 | 22.82 | 27.77 | 17.65 | 17.59 | 0.65 | 8.33 | 37.59 | 6.07 | 36.83 | 78.87 | 105.57 | 1.94 | -5.81 | 0 | 1.07 | 24.07 | 23.31 | -12.5 |
| 2019 (6) | 7.85 | 32.15 | 54.75 | 4.27 | 31.74 | 16.26 | 3.52 | 42.54 | 30.66 | 8.03 | 25.10 | 11.16 | 17.86 | 12.12 | 15.01 | 8.3 | 0.60 | -1.64 | 35.44 | 8.85 | 20.59 | 22.63 | 103.56 | 7.65 | -3.56 | 0 | 0.86 | -11.79 | 26.64 | -3.72 |
| 2018 (5) | 5.94 | 35.31 | 52.51 | -3.35 | 27.30 | 7.99 | 2.47 | 36.79 | 28.38 | 22.64 | 22.58 | 22.78 | 15.93 | 26.33 | 13.86 | 28.45 | 0.61 | 3.39 | 32.56 | 21.04 | 16.79 | 29.35 | 96.20 | -12.05 | 3.80 | 0 | 0.97 | 0 | 27.67 | 1.92 |
| 2017 (4) | 4.39 | -45.6 | 54.33 | -9.42 | 25.28 | -21.52 | 1.81 | 100.96 | 23.14 | -28.0 | 18.39 | -27.37 | 12.61 | -49.86 | 10.79 | -47.06 | 0.59 | -27.16 | 26.90 | -21.53 | 12.98 | -39.37 | 109.38 | 9.38 | -9.38 | 0 | 0.00 | 0 | 27.15 | 8.04 |
| 2016 (3) | 8.07 | -29.02 | 59.98 | -12.09 | 32.21 | -25.39 | 0.90 | 87.13 | 32.14 | -26.47 | 25.32 | -27.39 | 25.15 | -41.29 | 20.38 | -40.98 | 0.81 | -18.18 | 34.28 | -23.75 | 21.41 | -17.27 | 100.00 | 1.11 | 0.00 | 0 | 0.00 | 0 | 25.13 | 6.44 |
| 2015 (2) | 11.37 | 0 | 68.23 | 0 | 43.17 | 0 | 0.48 | 0 | 43.71 | 0 | 34.87 | 0 | 42.84 | 0 | 34.53 | 0 | 0.99 | 0 | 44.96 | 0 | 25.88 | 20.15 | 98.90 | 0 | 1.10 | 0 | 0.00 | 0 | 23.61 | 0 |
| 2014 (1) | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 21.54 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 |
