- 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) | 5.24 | 21.02 | -9.03 | 20.38 | 0.64 | 17.19 | 16.79 | 0.24 | 13.75 | 18.59 | 9.74 | 21.9 | 14.58 | 10.2 | 21.6 | 10.28 | 9.48 | 1.98 | 4.12 | 16.71 | 4.3 | 0.28 | 3.7 | -15.15 | 18.87 | 9.52 | 22.06 | 125.48 | -29.02 | -6.55 | 90.30 | -8.76 | -6.78 | 9.70 | 839.32 | 195.17 | 12.06 | 2.81 | 10.95 |
| 24Q2 (19) | 4.33 | 4.84 | -24.04 | 20.25 | -1.17 | 19.68 | 16.75 | 2.45 | 23.34 | 16.94 | 1.74 | 23.47 | 13.23 | 0.92 | 21.26 | 9.39 | 32.63 | -15.63 | 3.53 | 16.89 | -10.18 | 0.27 | 17.39 | -25.0 | 17.23 | 1.41 | 23.6 | 176.78 | 13.93 | -1.36 | 98.97 | 0.95 | 0.08 | 1.03 | -40.75 | -7.5 | 11.73 | -6.98 | 17.89 |
| 24Q1 (18) | 4.13 | -4.18 | -28.92 | 20.49 | 12.83 | 19.34 | 16.35 | 16.62 | 20.49 | 16.65 | 14.99 | 20.48 | 13.11 | 12.34 | 18.97 | 7.08 | 2.31 | -14.7 | 3.02 | -1.95 | -8.21 | 0.23 | -11.54 | -23.33 | 16.99 | 14.95 | 20.75 | 155.16 | 31.87 | -17.81 | 98.04 | 1.08 | -0.12 | 1.74 | -45.85 | -5.5 | 12.61 | 9.65 | 23.87 |
| 23Q4 (17) | 4.31 | -25.17 | -32.45 | 18.16 | 4.43 | 0.28 | 14.02 | -5.01 | 0.94 | 14.48 | -5.05 | 3.06 | 11.67 | -2.67 | 4.66 | 6.92 | -31.35 | -19.81 | 3.08 | -22.03 | -20.0 | 0.26 | -21.21 | -23.53 | 14.78 | -4.4 | 3.5 | 117.66 | -12.37 | -3.68 | 97.00 | 0.13 | -1.92 | 3.22 | -2.05 | 192.38 | 11.50 | 5.8 | -13.34 |
| 23Q3 (16) | 5.76 | 1.05 | -29.5 | 17.39 | 2.78 | -18.13 | 14.76 | 8.69 | -20.17 | 15.25 | 11.15 | -18.54 | 11.99 | 9.9 | -17.99 | 10.08 | -9.43 | -16.28 | 3.95 | 0.51 | -20.68 | 0.33 | -8.33 | -2.94 | 15.46 | 10.9 | -18.46 | 134.27 | -25.08 | 5.87 | 96.87 | -2.04 | -1.89 | 3.29 | 194.37 | 159.26 | 10.87 | 9.25 | -0.28 |
| 23Q2 (15) | 5.70 | -1.89 | -8.51 | 16.92 | -1.46 | -10.0 | 13.58 | 0.07 | -9.04 | 13.72 | -0.72 | -8.66 | 10.91 | -1.0 | -7.54 | 11.13 | 34.1 | 20.85 | 3.93 | 19.45 | -2.24 | 0.36 | 20.0 | 5.88 | 13.94 | -0.92 | -8.71 | 179.21 | -5.07 | 12.53 | 98.88 | 0.74 | -0.38 | 1.12 | -39.46 | 100.58 | 9.95 | -2.26 | -2.55 |
| 23Q1 (14) | 5.81 | -8.93 | 24.15 | 17.17 | -5.19 | -6.28 | 13.57 | -2.3 | -7.37 | 13.82 | -1.64 | -8.11 | 11.02 | -1.17 | -6.05 | 8.30 | -3.82 | 22.6 | 3.29 | -14.55 | -2.08 | 0.30 | -11.76 | 3.45 | 14.07 | -1.47 | -8.46 | 188.79 | 54.56 | 83.49 | 98.16 | -0.75 | 0.88 | 1.84 | 67.52 | -31.76 | 10.18 | -23.29 | -7.71 |
| 22Q4 (13) | 6.38 | -21.91 | 33.47 | 18.11 | -14.74 | 13.12 | 13.89 | -24.88 | 9.28 | 14.05 | -24.95 | 9.77 | 11.15 | -23.73 | 14.01 | 8.63 | -28.32 | 5.5 | 3.85 | -22.69 | 4.34 | 0.34 | 0.0 | -10.53 | 14.28 | -24.68 | 9.17 | 122.15 | -3.68 | 21.7 | 98.90 | 0.17 | -0.31 | 1.10 | -13.15 | 38.72 | 13.27 | 21.74 | 18.27 |
| 22Q3 (12) | 8.17 | 31.14 | 119.03 | 21.24 | 12.98 | 45.58 | 18.49 | 23.84 | 64.94 | 18.72 | 24.63 | 64.21 | 14.62 | 23.9 | 64.83 | 12.04 | 30.73 | 36.51 | 4.98 | 23.88 | 47.77 | 0.34 | 0.0 | -10.53 | 18.96 | 24.17 | 61.77 | 126.82 | -20.36 | -21.18 | 98.73 | -0.53 | 0.46 | 1.27 | 127.75 | -26.48 | 10.90 | 6.76 | 12.72 |
| 22Q2 (11) | 6.23 | 33.12 | 22.64 | 18.80 | 2.62 | 25.92 | 14.93 | 1.91 | 16.46 | 15.02 | -0.13 | 17.16 | 11.80 | 0.6 | 20.53 | 9.21 | 36.04 | -27.19 | 4.02 | 19.64 | -19.92 | 0.34 | 17.24 | -33.33 | 15.27 | -0.65 | 16.56 | 159.25 | 54.78 | -2.19 | 99.26 | 2.02 | -0.74 | 0.56 | -79.41 | 0 | 10.21 | -7.43 | 15.63 |
| 22Q1 (10) | 4.68 | -2.09 | 40.96 | 18.32 | 14.43 | 60.42 | 14.65 | 15.26 | 69.76 | 15.04 | 17.5 | 71.49 | 11.73 | 19.94 | 75.34 | 6.77 | -17.24 | 9.55 | 3.36 | -8.94 | 29.23 | 0.29 | -23.68 | -25.64 | 15.37 | 17.51 | 68.35 | 102.89 | 2.51 | -26.89 | 97.30 | -1.92 | -1.04 | 2.70 | 240.54 | 61.26 | 11.03 | -1.69 | 25.48 |
| 21Q4 (9) | 4.78 | 28.15 | 9.89 | 16.01 | 9.73 | 9.13 | 12.71 | 13.38 | 4.1 | 12.80 | 12.28 | 3.9 | 9.78 | 10.26 | 4.15 | 8.18 | -7.26 | -6.41 | 3.69 | 9.5 | -2.89 | 0.38 | 0.0 | -5.0 | 13.08 | 11.6 | 2.83 | 100.37 | -37.62 | -25.75 | 99.21 | 0.95 | 0.06 | 0.79 | -53.97 | -7.14 | 11.22 | 16.03 | 22.36 |
| 21Q3 (8) | 3.73 | -26.57 | 119.41 | 14.59 | -2.28 | 8.64 | 11.21 | -12.56 | 35.39 | 11.40 | -11.08 | 33.8 | 8.87 | -9.4 | 32.39 | 8.82 | -30.28 | 140.33 | 3.37 | -32.87 | 121.71 | 0.38 | -25.49 | 65.22 | 11.72 | -10.53 | 27.11 | 160.89 | -1.18 | 28.2 | 98.28 | -1.72 | 1.7 | 1.72 | 0 | -48.85 | 9.67 | 9.51 | -34.93 |
| 21Q2 (7) | 5.08 | 53.01 | 23.3 | 14.93 | 30.74 | -12.23 | 12.82 | 48.55 | -4.83 | 12.82 | 46.18 | -7.7 | 9.79 | 46.34 | -8.68 | 12.65 | 104.69 | 48.3 | 5.02 | 93.08 | 34.95 | 0.51 | 30.77 | 45.71 | 13.10 | 43.48 | -9.03 | 162.81 | 15.68 | 1.66 | 100.00 | 1.7 | 3.3 | 0.00 | -100.0 | -100.0 | 8.83 | 0.46 | -17.71 |
| 21Q1 (6) | 3.32 | -23.68 | 0 | 11.42 | -22.15 | 0 | 8.63 | -29.32 | 0 | 8.77 | -28.81 | 0 | 6.69 | -28.75 | 0 | 6.18 | -29.29 | 0 | 2.60 | -31.58 | 0 | 0.39 | -2.5 | 0 | 9.13 | -28.22 | 0 | 140.74 | 4.11 | 0 | 98.32 | -0.83 | 0 | 1.68 | 96.09 | 0 | 8.79 | -4.14 | 0 |
| 20Q4 (5) | 4.35 | 155.88 | 0 | 14.67 | 9.23 | 0 | 12.21 | 47.46 | 0 | 12.32 | 44.6 | 0 | 9.39 | 40.15 | 0 | 8.74 | 138.15 | 0 | 3.80 | 150.0 | 0 | 0.40 | 73.91 | 0 | 12.72 | 37.96 | 0 | 135.18 | 7.71 | 0 | 99.15 | 2.6 | 0 | 0.85 | -74.64 | 0 | 9.17 | -38.29 | 0 |
| 20Q3 (4) | 1.70 | -58.74 | 0.0 | 13.43 | -21.05 | 0.0 | 8.28 | -38.53 | 0.0 | 8.52 | -38.66 | 0.0 | 6.70 | -37.5 | 0.0 | 3.67 | -56.98 | 0.0 | 1.52 | -59.14 | 0.0 | 0.23 | -34.29 | 0.0 | 9.22 | -35.97 | 0.0 | 125.50 | -21.64 | 0.0 | 96.63 | -0.18 | 0.0 | 3.37 | 5.46 | 0.0 | 14.86 | 38.49 | 0.0 |
| 20Q2 (3) | 4.12 | 0 | 0.0 | 17.01 | 0 | 0.0 | 13.47 | 0 | 0.0 | 13.89 | 0 | 0.0 | 10.72 | 0 | 0.0 | 8.53 | 0 | 0.0 | 3.72 | 0 | 0.0 | 0.35 | 0 | 0.0 | 14.40 | 0 | 0.0 | 160.15 | 0 | 0.0 | 96.80 | 0 | 0.0 | 3.20 | 0 | 0.0 | 10.73 | 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) | 20.22 | -20.64 | 17.36 | -9.49 | 13.99 | -10.03 | 0.19 | -3.53 | 14.31 | -9.2 | 11.38 | -8.0 | 32.90 | -8.1 | 14.99 | -11.35 | 1.31 | -3.68 | 14.56 | -9.11 | 117.66 | -3.68 | 97.70 | -0.99 | 2.30 | 74.28 | 0.07 | -6.31 | 10.57 | -7.28 |
| 2022 (9) | 25.48 | 60.96 | 19.18 | 32.46 | 15.55 | 33.94 | 0.20 | -20.86 | 15.76 | 34.7 | 12.37 | 37.75 | 35.80 | 24.52 | 16.91 | 24.25 | 1.36 | -9.93 | 16.02 | 33.28 | 122.15 | 21.7 | 98.68 | -0.52 | 1.32 | 64.3 | 0.07 | -29.51 | 11.40 | 17.77 |
| 2021 (8) | 15.83 | 39.23 | 14.48 | -1.5 | 11.61 | 4.59 | 0.25 | -49.77 | 11.70 | 3.45 | 8.98 | 2.98 | 28.75 | 29.33 | 13.61 | 42.66 | 1.51 | 38.53 | 12.02 | 1.01 | 100.37 | -25.75 | 99.20 | 1.04 | 0.80 | -55.89 | 0.10 | 0.05 | 9.68 | -14.34 |
| 2020 (7) | 11.37 | -12.0 | 14.70 | -17.09 | 11.10 | -18.86 | 0.50 | 4.33 | 11.31 | -18.04 | 8.72 | -14.93 | 22.23 | -19.34 | 9.54 | -7.56 | 1.09 | 9.0 | 11.90 | -17.19 | 135.18 | 1.77 | 98.18 | -0.99 | 1.82 | 116.36 | 0.10 | 0 | 11.30 | -8.28 |
| 2019 (6) | 12.92 | -32.29 | 17.73 | 10.74 | 13.68 | 21.49 | 0.48 | 60.43 | 13.80 | 19.38 | 10.25 | 12.89 | 27.56 | -18.99 | 10.32 | -14.92 | 1.00 | -24.81 | 14.37 | 20.55 | 132.83 | -36.61 | 99.16 | 1.82 | 0.84 | -67.79 | 0.00 | 0 | 12.32 | -5.16 |
| 2018 (5) | 19.08 | 18.14 | 16.01 | 6.24 | 11.26 | 27.09 | 0.30 | 16.61 | 11.56 | 17.96 | 9.08 | 21.55 | 34.02 | 11.29 | 12.13 | -9.07 | 1.33 | -25.28 | 11.92 | 17.9 | 209.54 | 43.28 | 97.39 | 7.74 | 2.61 | -72.84 | 0.00 | 0 | 12.99 | 6.39 |
| 2017 (4) | 16.15 | 256.51 | 15.07 | -3.58 | 8.86 | 47.91 | 0.26 | -34.39 | 9.80 | 53.85 | 7.47 | 75.35 | 30.57 | 118.2 | 13.34 | 86.57 | 1.78 | 7.88 | 10.11 | 46.95 | 146.25 | 29.6 | 90.40 | -4.13 | 9.60 | 55.15 | 0.00 | 0 | 12.21 | -20.56 |
| 2016 (3) | 4.53 | -55.06 | 15.63 | -29.24 | 5.99 | -48.72 | 0.39 | 17.53 | 6.37 | -45.6 | 4.26 | -55.85 | 14.01 | -50.74 | 7.15 | -51.66 | 1.65 | 7.84 | 6.88 | -42.95 | 112.85 | 45.52 | 94.29 | -5.33 | 6.19 | 1416.67 | 0.00 | 0 | 15.37 | 80.82 |
| 2015 (2) | 10.08 | 0 | 22.09 | 0 | 11.68 | 0 | 0.34 | 0 | 11.71 | 0 | 9.65 | 0 | 28.44 | 0 | 14.79 | 0 | 1.53 | 0 | 12.06 | 0 | 77.55 | -29.53 | 99.59 | 0 | 0.41 | 0 | 0.00 | 0 | 8.50 | 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 | 110.05 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 |
