- 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) | 1.43 | 12.6 | 98.61 | 5.10 | 0.79 | 21.43 | 3.38 | 0.0 | 29.01 | 4.87 | 11.44 | 81.72 | 3.90 | 13.7 | 82.24 | 5.49 | 12.04 | 86.73 | 2.97 | 10.41 | 82.21 | 0.75 | -1.32 | 0.0 | 5.57 | 7.95 | 62.87 | 78.39 | -19.94 | -0.95 | 70.00 | -10.0 | -30.0 | 30.00 | 35.0 | 0 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 1.27 | 60.76 | 29.59 | 5.06 | 16.59 | 9.05 | 3.38 | 23.36 | 25.65 | 4.37 | 56.63 | 17.79 | 3.43 | 53.81 | 17.47 | 4.90 | 63.88 | 25.0 | 2.69 | 63.03 | 19.03 | 0.76 | 5.56 | 0.0 | 5.16 | 46.18 | 14.16 | 97.92 | 28.86 | 10.3 | 77.78 | -22.22 | 8.89 | 22.22 | 0 | -22.22 | 86.00 | -1.74 | -0.09 |
| 24Q1 (18) | 0.79 | -13.19 | 8.22 | 4.34 | -6.67 | 33.54 | 2.74 | 2.24 | 77.92 | 2.79 | -16.72 | -3.46 | 2.23 | -16.48 | -3.46 | 2.99 | -16.25 | 4.18 | 1.65 | -14.95 | -2.37 | 0.72 | 1.41 | 1.41 | 3.53 | -13.05 | -7.59 | 75.99 | -20.99 | 15.15 | 100.00 | 30.0 | 81.82 | 0.00 | -100.0 | -100.0 | 87.52 | 1.48 | -0.48 |
| 23Q4 (17) | 0.91 | 26.39 | -27.78 | 4.65 | 10.71 | -11.26 | 2.68 | 2.29 | -19.76 | 3.35 | 25.0 | -29.62 | 2.67 | 24.77 | -31.01 | 3.57 | 21.43 | -28.31 | 1.94 | 19.02 | -30.22 | 0.71 | -5.33 | 0.0 | 4.06 | 18.71 | -28.52 | 96.18 | 21.53 | 17.25 | 76.92 | -23.08 | 10.37 | 19.23 | 0 | -36.54 | 86.24 | -0.54 | 0.69 |
| 23Q3 (16) | 0.72 | -26.53 | -1.37 | 4.20 | -9.48 | -12.86 | 2.62 | -2.6 | -11.19 | 2.68 | -27.76 | -9.46 | 2.14 | -26.71 | -9.32 | 2.94 | -25.0 | -5.47 | 1.63 | -27.88 | -5.78 | 0.75 | -1.32 | 5.63 | 3.42 | -24.34 | -9.04 | 79.14 | -10.86 | -3.83 | 100.00 | 40.0 | 0.0 | 0.00 | -100.0 | 0 | 86.71 | 0.73 | 0.29 |
| 23Q2 (15) | 0.98 | 34.25 | 81.48 | 4.64 | 42.77 | 5.69 | 2.69 | 74.68 | 12.55 | 3.71 | 28.37 | 55.23 | 2.92 | 26.41 | 63.13 | 3.92 | 36.59 | 61.32 | 2.26 | 33.73 | 68.66 | 0.76 | 7.04 | 7.04 | 4.52 | 18.32 | 34.12 | 88.78 | 34.54 | 2.46 | 71.43 | 29.87 | -28.57 | 28.57 | -42.86 | 0 | 86.08 | -2.12 | 1.14 |
| 23Q1 (14) | 0.73 | -42.06 | 28.07 | 3.25 | -37.98 | -23.35 | 1.54 | -53.89 | -31.86 | 2.89 | -39.29 | 19.92 | 2.31 | -40.31 | 20.31 | 2.87 | -42.37 | 9.13 | 1.69 | -39.21 | 24.26 | 0.71 | 0.0 | 2.9 | 3.82 | -32.75 | 13.69 | 65.99 | -19.55 | -32.94 | 55.00 | -21.09 | -40.77 | 50.00 | 65.0 | 600.0 | 87.94 | 2.67 | 2.89 |
| 22Q4 (13) | 1.26 | 72.6 | -21.25 | 5.24 | 8.71 | -31.68 | 3.34 | 13.22 | -49.93 | 4.76 | 60.81 | -31.71 | 3.87 | 63.98 | -29.38 | 4.98 | 60.13 | -35.24 | 2.78 | 60.69 | -29.97 | 0.71 | 0.0 | 0.0 | 5.68 | 51.06 | -28.1 | 82.03 | -0.32 | -17.38 | 69.70 | -30.3 | -26.73 | 30.30 | 0 | 521.21 | 85.65 | -0.94 | 2.4 |
| 22Q3 (12) | 0.73 | 35.19 | -47.48 | 4.82 | 9.79 | -42.69 | 2.95 | 23.43 | -41.47 | 2.96 | 23.85 | -51.55 | 2.36 | 31.84 | -51.84 | 3.11 | 27.98 | -52.37 | 1.73 | 29.1 | -51.13 | 0.71 | 0.0 | 0.0 | 3.76 | 11.57 | -46.67 | 82.29 | -5.03 | -11.58 | 100.00 | 0.0 | 20.69 | 0.00 | 0 | -100.0 | 86.46 | 1.59 | 5.22 |
| 22Q2 (11) | 0.54 | -5.26 | -64.47 | 4.39 | 3.54 | -41.54 | 2.39 | 5.75 | -65.76 | 2.39 | -0.83 | -66.05 | 1.79 | -6.77 | -68.09 | 2.43 | -7.6 | -65.19 | 1.34 | -1.47 | -64.92 | 0.71 | 2.9 | 5.97 | 3.37 | 0.3 | -58.4 | 86.65 | -11.94 | 7.44 | 100.00 | 7.69 | 0.0 | 0.00 | -100.0 | 0 | 85.11 | -0.42 | 2.01 |
| 22Q1 (10) | 0.57 | -64.38 | -38.71 | 4.24 | -44.72 | -47.39 | 2.26 | -66.12 | -48.4 | 2.41 | -65.42 | -46.68 | 1.92 | -64.96 | -46.07 | 2.63 | -65.8 | -41.94 | 1.36 | -65.74 | -42.86 | 0.69 | -2.82 | 4.55 | 3.36 | -57.47 | -39.13 | 98.40 | -0.89 | 6.57 | 92.86 | -2.38 | -3.11 | 7.14 | 46.43 | 71.43 | 85.47 | 2.19 | 0.31 |
| 21Q4 (9) | 1.60 | 15.11 | 8.11 | 7.67 | -8.8 | -27.78 | 6.67 | 32.34 | -0.6 | 6.97 | 14.08 | 1.31 | 5.48 | 11.84 | 0.55 | 7.69 | 17.76 | 0.65 | 3.97 | 12.15 | -3.87 | 0.71 | 0.0 | -5.33 | 7.90 | 12.06 | 2.33 | 99.28 | 6.67 | 3.91 | 95.12 | 14.8 | -2.24 | 4.88 | -71.54 | 80.49 | 83.64 | 1.79 | -0.56 |
| 21Q3 (8) | 1.39 | -8.55 | 0.0 | 8.41 | 11.98 | -17.47 | 5.04 | -27.79 | -23.4 | 6.11 | -13.21 | -9.75 | 4.90 | -12.66 | -9.09 | 6.53 | -6.45 | -16.17 | 3.54 | -7.33 | -16.51 | 0.71 | 5.97 | -8.97 | 7.05 | -12.96 | -9.03 | 93.07 | 15.4 | 21.9 | 82.86 | -17.14 | -14.71 | 17.14 | 0 | 500.0 | 82.17 | -1.51 | -1.15 |
| 21Q2 (7) | 1.52 | 63.44 | -41.54 | 7.51 | -6.82 | -8.19 | 6.98 | 59.36 | 12.22 | 7.04 | 55.75 | 9.66 | 5.61 | 57.58 | 9.78 | 6.98 | 54.08 | -53.96 | 3.82 | 60.5 | -51.03 | 0.67 | 1.52 | -55.63 | 8.10 | 46.74 | 8.43 | 80.65 | -12.65 | -17.59 | 100.00 | 4.35 | 3.17 | 0.00 | -100.0 | -100.0 | 83.43 | -2.09 | -0.89 |
| 21Q1 (6) | 0.93 | -37.16 | 0 | 8.06 | -24.11 | 0 | 4.38 | -34.72 | 0 | 4.52 | -34.3 | 0 | 3.56 | -34.68 | 0 | 4.53 | -40.71 | 0 | 2.38 | -42.37 | 0 | 0.66 | -12.0 | 0 | 5.52 | -28.5 | 0 | 92.33 | -3.36 | 0 | 95.83 | -1.5 | 0 | 4.17 | 54.17 | 0 | 85.21 | 1.31 | 0 |
| 20Q4 (5) | 1.48 | 6.47 | 0 | 10.62 | 4.22 | 0 | 6.71 | 1.98 | 0 | 6.88 | 1.62 | 0 | 5.45 | 1.11 | 0 | 7.64 | -1.93 | 0 | 4.13 | -2.59 | 0 | 0.75 | -3.85 | 0 | 7.72 | -0.39 | 0 | 95.54 | 25.13 | 0 | 97.30 | 0.16 | 0 | 2.70 | -5.41 | 0 | 84.11 | 1.18 | 0 |
| 20Q3 (4) | 1.39 | -46.54 | 0.0 | 10.19 | 24.57 | 0.0 | 6.58 | 5.79 | 0.0 | 6.77 | 5.45 | 0.0 | 5.39 | 5.48 | 0.0 | 7.79 | -48.61 | 0.0 | 4.24 | -45.64 | 0.0 | 0.78 | -48.34 | 0.0 | 7.75 | 3.75 | 0.0 | 76.35 | -21.98 | 0.0 | 97.14 | 0.23 | 0.0 | 2.86 | -7.14 | 0.0 | 83.13 | -1.25 | 0.0 |
| 20Q2 (3) | 2.60 | 0 | 0.0 | 8.18 | 0 | 0.0 | 6.22 | 0 | 0.0 | 6.42 | 0 | 0.0 | 5.11 | 0 | 0.0 | 15.16 | 0 | 0.0 | 7.80 | 0 | 0.0 | 1.51 | 0 | 0.0 | 7.47 | 0 | 0.0 | 97.86 | 0 | 0.0 | 96.92 | 0 | 0.0 | 3.08 | 0 | 0.0 | 84.18 | 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) | 3.33 | 8.12 | 4.20 | -10.64 | 2.40 | -13.04 | 0.67 | -11.36 | 3.16 | -0.32 | 2.51 | -0.4 | 13.12 | -2.45 | 7.09 | -2.88 | 2.76 | -1.78 | 3.96 | -2.94 | 96.18 | 17.25 | 75.53 | -13.09 | 24.47 | 86.85 | 0.18 | -40.4 | 86.72 | 1.2 |
| 2022 (9) | 3.08 | -43.38 | 4.70 | -40.58 | 2.76 | -52.33 | 0.76 | -11.74 | 3.17 | -48.79 | 2.52 | -48.68 | 13.45 | -48.49 | 7.30 | -45.6 | 2.81 | 4.46 | 4.08 | -43.1 | 82.03 | -17.38 | 86.90 | -6.98 | 13.10 | 99.34 | 0.29 | -15.77 | 85.69 | 2.52 |
| 2021 (8) | 5.44 | -0.55 | 7.91 | -15.13 | 5.79 | -10.09 | 0.86 | -1.06 | 6.19 | -6.64 | 4.91 | -6.83 | 26.11 | -11.28 | 13.42 | -11.71 | 2.69 | -5.94 | 7.17 | -5.66 | 99.28 | 3.91 | 93.43 | -3.78 | 6.57 | 126.64 | 0.35 | 0 | 83.58 | -0.38 |
| 2020 (7) | 5.47 | 85.42 | 9.32 | 71.64 | 6.44 | 95.74 | 0.87 | 35.42 | 6.63 | 70.44 | 5.27 | 70.0 | 29.43 | 56.29 | 15.20 | 61.02 | 2.86 | -3.38 | 7.60 | 62.05 | 95.54 | 0.05 | 97.10 | 14.33 | 2.90 | -80.76 | 0.00 | 0 | 83.90 | -2.75 |
| 2019 (6) | 2.95 | -18.06 | 5.43 | -11.99 | 3.29 | -9.62 | 0.64 | 13.41 | 3.89 | -16.34 | 3.10 | -15.76 | 18.83 | -25.6 | 9.44 | -17.41 | 2.96 | -1.99 | 4.69 | -13.31 | 95.49 | -18.42 | 84.93 | 7.14 | 15.07 | -31.35 | 0.00 | 0 | 86.27 | -0.52 |
| 2018 (5) | 3.60 | -8.16 | 6.17 | 4.75 | 3.64 | -0.27 | 0.56 | 28.35 | 4.65 | -4.12 | 3.68 | -8.46 | 25.31 | -22.41 | 11.43 | -13.21 | 3.02 | -4.13 | 5.41 | -1.99 | 117.05 | -16.01 | 79.27 | 5.24 | 21.95 | -11.04 | 0.00 | 0 | 86.72 | -0.05 |
| 2017 (4) | 3.92 | 23.66 | 5.89 | 15.72 | 3.65 | 27.18 | 0.44 | -44.31 | 4.85 | 13.85 | 4.02 | 13.24 | 32.62 | -12.24 | 13.17 | 5.61 | 3.15 | -5.69 | 5.52 | 3.95 | 139.36 | -25.23 | 75.32 | 11.1 | 24.68 | -23.38 | 0.00 | 0 | 86.76 | -1.25 |
| 2016 (3) | 3.17 | -4.23 | 5.09 | 14.64 | 2.87 | 47.94 | 0.79 | 35.2 | 4.26 | 36.98 | 3.55 | 38.13 | 37.17 | 41.22 | 12.47 | 44.33 | 3.34 | 7.4 | 5.31 | 33.08 | 186.39 | -25.89 | 67.80 | 8.47 | 32.20 | -14.12 | 0.00 | 0 | 87.86 | 2.29 |
| 2015 (2) | 3.31 | 0 | 4.44 | 0 | 1.94 | 0 | 0.58 | 0 | 3.11 | 0 | 2.57 | 0 | 26.32 | 0 | 8.64 | 0 | 3.11 | 0 | 3.99 | 0 | 251.49 | 24.64 | 62.50 | 0 | 37.50 | 0 | 0.00 | 0 | 85.89 | 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 | 201.77 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 |
