- 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) | 1.86 | -14.29 | 69.09 | 33.52 | 2.32 | 20.27 | 14.42 | 1.62 | 135.24 | 14.65 | -4.81 | 79.1 | 11.18 | -6.52 | 76.62 | 4.33 | -10.35 | 48.8 | 2.46 | -11.51 | 49.09 | 0.21 | -4.55 | -8.7 | 18.13 | -4.98 | 39.03 | 77.24 | -14.53 | -17.79 | 97.30 | 5.19 | 29.73 | 1.35 | -81.98 | -94.59 | 14.45 | 1.12 | -10.3 |
| 24Q2 (19) | 2.17 | 45.64 | 164.63 | 32.76 | 9.57 | 12.15 | 14.19 | 103.3 | 74.54 | 15.39 | 50.0 | 124.67 | 11.96 | 47.29 | 146.09 | 4.83 | 38.79 | 131.1 | 2.78 | 36.27 | 120.63 | 0.22 | -4.35 | 0.0 | 19.08 | 34.65 | 61.42 | 90.37 | 24.02 | -17.31 | 92.50 | 34.79 | -21.1 | 7.50 | -76.09 | 143.5 | 14.29 | -21.48 | -11.9 |
| 24Q1 (18) | 1.49 | 31.86 | 44.66 | 29.90 | -3.08 | 8.14 | 6.98 | -40.24 | -11.87 | 10.26 | 30.04 | 41.71 | 8.12 | 28.48 | 42.46 | 3.48 | 20.42 | 44.4 | 2.04 | 22.89 | 41.67 | 0.23 | 0.0 | 0.0 | 14.17 | 15.67 | 20.6 | 72.87 | -24.64 | -15.21 | 68.63 | -53.81 | -37.43 | 31.37 | 164.59 | 424.18 | 18.20 | 23.64 | 20.85 |
| 23Q4 (17) | 1.13 | 2.73 | -37.22 | 30.85 | 10.69 | 1.05 | 11.68 | 90.54 | -12.25 | 7.89 | -3.55 | -30.79 | 6.32 | -0.16 | -29.7 | 2.89 | -0.69 | -33.41 | 1.66 | 0.61 | -31.12 | 0.23 | 0.0 | -8.0 | 12.25 | -6.06 | -21.92 | 96.70 | 2.93 | 7.71 | 148.57 | 98.1 | 27.68 | -48.57 | -294.29 | -196.83 | 14.72 | -8.63 | 16.83 |
| 23Q3 (16) | 1.10 | 34.15 | -50.0 | 27.87 | -4.59 | -5.33 | 6.13 | -24.6 | -45.17 | 8.18 | 19.42 | -40.55 | 6.33 | 30.25 | -40.51 | 2.91 | 39.23 | -47.94 | 1.65 | 30.95 | -41.49 | 0.23 | 4.55 | -8.0 | 13.04 | 10.32 | -27.64 | 93.95 | -14.04 | -3.53 | 75.00 | -36.03 | -7.27 | 25.00 | 245.0 | 30.77 | 16.11 | -0.68 | 22.42 |
| 23Q2 (15) | 0.82 | -20.39 | -60.39 | 29.21 | 5.64 | -5.96 | 8.13 | 2.65 | -35.48 | 6.85 | -5.39 | -49.45 | 4.86 | -14.74 | -53.45 | 2.09 | -13.28 | -59.81 | 1.26 | -12.5 | -55.16 | 0.22 | -4.35 | -15.38 | 11.82 | 0.6 | -32.65 | 109.29 | 27.17 | -10.97 | 117.24 | 6.9 | 25.06 | -17.24 | -78.16 | -375.86 | 16.22 | 7.7 | 18.31 |
| 23Q1 (14) | 1.03 | -42.78 | -49.26 | 27.65 | -9.43 | -8.47 | 7.92 | -40.5 | -29.47 | 7.24 | -36.49 | -44.48 | 5.70 | -36.6 | -43.73 | 2.41 | -44.47 | -52.28 | 1.44 | -40.25 | -53.55 | 0.23 | -8.0 | -23.33 | 11.75 | -25.11 | -30.68 | 85.94 | -4.28 | 38.01 | 109.68 | -5.75 | 25.93 | -9.68 | 40.86 | -166.67 | 15.06 | 19.52 | 8.19 |
| 22Q4 (13) | 1.80 | -18.18 | -5.26 | 30.53 | 3.7 | 0.46 | 13.31 | 19.05 | 13.28 | 11.40 | -17.15 | -3.72 | 8.99 | -15.51 | 2.28 | 4.34 | -22.36 | -16.38 | 2.41 | -14.54 | -13.62 | 0.25 | 0.0 | -19.35 | 15.69 | -12.93 | -0.44 | 89.78 | -7.81 | 26.31 | 116.36 | 43.87 | 16.36 | -16.36 | -185.59 | 0 | 12.60 | -4.26 | -2.1 |
| 22Q3 (12) | 2.20 | 6.28 | -2.22 | 29.44 | -5.22 | -1.7 | 11.18 | -11.27 | -13.87 | 13.76 | 1.55 | 7.75 | 10.64 | 1.92 | 8.79 | 5.59 | 7.5 | -21.38 | 2.82 | 0.36 | -19.2 | 0.25 | -3.85 | -28.57 | 18.02 | 2.68 | 11.44 | 97.39 | -20.66 | -18.26 | 80.88 | -13.73 | -20.36 | 19.12 | 205.88 | 1323.53 | 13.16 | -4.01 | 8.22 |
| 22Q2 (11) | 2.07 | 1.97 | -17.2 | 31.06 | 2.81 | -0.7 | 12.60 | 12.2 | -9.48 | 13.55 | 3.91 | 4.88 | 10.44 | 3.06 | -6.37 | 5.20 | 2.97 | -34.51 | 2.81 | -9.35 | -32.45 | 0.26 | -13.33 | -29.73 | 17.55 | 3.54 | 7.54 | 122.75 | 97.13 | 24.51 | 93.75 | 7.64 | -13.25 | 6.25 | -56.94 | 177.5 | 13.71 | -1.51 | 5.95 |
| 22Q1 (10) | 2.03 | 6.84 | -2.4 | 30.21 | -0.59 | -5.95 | 11.23 | -4.43 | -11.99 | 13.04 | 10.14 | 0.23 | 10.13 | 15.24 | 0.1 | 5.05 | -2.7 | -29.17 | 3.10 | 11.11 | -19.27 | 0.30 | -3.23 | -18.92 | 16.95 | 7.55 | 1.92 | 62.27 | -12.39 | -31.6 | 87.10 | -12.9 | -11.35 | 14.52 | 0 | 727.42 | 13.92 | 8.16 | 2.96 |
| 21Q4 (9) | 1.90 | -15.56 | 68.14 | 30.39 | 1.47 | 1.23 | 11.75 | -9.48 | 46.69 | 11.84 | -7.28 | 56.82 | 8.79 | -10.12 | 35.44 | 5.19 | -27.0 | 26.59 | 2.79 | -20.06 | 25.11 | 0.31 | -11.43 | -3.13 | 15.76 | -2.54 | 33.56 | 71.08 | -40.34 | -21.52 | 100.00 | -1.54 | -6.67 | 0.00 | 100.0 | 100.0 | 12.87 | 5.84 | -16.97 |
| 21Q3 (8) | 2.25 | -10.0 | 75.78 | 29.95 | -4.25 | 7.19 | 12.98 | -6.75 | 46.01 | 12.77 | -1.16 | 45.61 | 9.78 | -12.29 | 42.77 | 7.11 | -10.45 | 46.3 | 3.49 | -16.11 | 38.49 | 0.35 | -5.41 | 0.0 | 16.17 | -0.92 | 26.82 | 119.15 | 20.85 | 20.98 | 101.56 | -6.02 | -1.26 | -1.56 | 80.62 | 45.31 | 12.16 | -6.03 | -2.64 |
| 21Q2 (7) | 2.50 | 20.19 | 133.64 | 31.28 | -2.62 | 9.14 | 13.92 | 9.09 | 60.37 | 12.92 | -0.69 | 66.93 | 11.15 | 10.18 | 88.98 | 7.94 | 11.36 | 106.23 | 4.16 | 8.33 | 94.39 | 0.37 | 0.0 | 8.82 | 16.32 | -1.86 | 36.45 | 98.59 | 8.29 | -6.06 | 108.06 | 9.99 | -5.44 | -8.06 | -559.68 | 24.73 | 12.94 | -4.29 | -4.92 |
| 21Q1 (6) | 2.08 | 84.07 | 0 | 32.12 | 7.0 | 0 | 12.76 | 59.3 | 0 | 13.01 | 72.32 | 0 | 10.12 | 55.93 | 0 | 7.13 | 73.9 | 0 | 3.84 | 72.2 | 0 | 0.37 | 15.62 | 0 | 16.63 | 40.93 | 0 | 91.04 | 0.52 | 0 | 98.25 | -8.3 | 0 | 1.75 | 124.56 | 0 | 13.52 | -12.77 | 0 |
| 20Q4 (5) | 1.13 | -11.72 | 0 | 30.02 | 7.44 | 0 | 8.01 | -9.9 | 0 | 7.55 | -13.91 | 0 | 6.49 | -5.26 | 0 | 4.10 | -15.64 | 0 | 2.23 | -11.51 | 0 | 0.32 | -8.57 | 0 | 11.80 | -7.45 | 0 | 90.57 | -8.04 | 0 | 107.14 | 4.17 | 0 | -7.14 | -150.0 | 0 | 15.50 | 24.1 | 0 |
| 20Q3 (4) | 1.28 | 19.63 | 0.0 | 27.94 | -2.51 | 0.0 | 8.89 | 2.42 | 0.0 | 8.77 | 13.31 | 0.0 | 6.85 | 16.1 | 0.0 | 4.86 | 26.23 | 0.0 | 2.52 | 17.76 | 0.0 | 0.35 | 2.94 | 0.0 | 12.75 | 6.61 | 0.0 | 98.49 | -6.16 | 0.0 | 102.86 | -10.0 | 0.0 | -2.86 | 73.33 | 0.0 | 12.49 | -8.23 | 0.0 |
| 20Q2 (3) | 1.07 | 0 | 0.0 | 28.66 | 0 | 0.0 | 8.68 | 0 | 0.0 | 7.74 | 0 | 0.0 | 5.90 | 0 | 0.0 | 3.85 | 0 | 0.0 | 2.14 | 0 | 0.0 | 0.34 | 0 | 0.0 | 11.96 | 0 | 0.0 | 104.95 | 0 | 0.0 | 114.29 | 0 | 0.0 | -10.71 | 0 | 0.0 | 13.61 | 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) | 4.04 | -50.06 | 28.91 | -4.59 | 8.49 | -29.66 | 3.61 | 3.74 | 7.55 | -41.65 | 5.81 | -42.25 | 10.09 | -49.17 | 5.95 | -48.26 | 0.90 | -17.43 | 12.28 | -28.02 | 96.70 | 7.71 | 112.12 | 20.34 | -12.12 | 0 | 0.00 | 0 | 15.52 | 16.25 |
| 2022 (9) | 8.09 | -5.27 | 30.30 | -1.94 | 12.07 | -6.14 | 3.48 | 6.43 | 12.94 | 2.45 | 10.06 | 1.0 | 19.85 | -19.21 | 11.50 | -18.44 | 1.09 | -21.01 | 17.06 | 5.24 | 89.78 | 26.31 | 93.17 | -8.74 | 6.83 | 0 | 0.00 | 0 | 13.35 | 3.89 |
| 2021 (8) | 8.54 | 97.69 | 30.90 | 6.0 | 12.86 | 52.55 | 3.27 | -12.87 | 12.63 | 60.08 | 9.96 | 58.35 | 24.57 | 55.21 | 14.10 | 54.95 | 1.38 | 1.47 | 16.21 | 32.54 | 71.08 | -21.52 | 102.09 | -3.72 | -1.67 | 0 | 0.00 | 0 | 12.85 | -9.82 |
| 2020 (7) | 4.32 | 4.6 | 29.15 | 0.21 | 8.43 | 10.2 | 3.76 | -2.62 | 7.89 | 13.85 | 6.29 | 6.97 | 15.83 | -1.49 | 9.10 | 0.33 | 1.36 | -2.86 | 12.23 | 4.98 | 90.57 | 15.49 | 106.03 | -3.61 | -6.90 | 0 | 0.00 | 0 | 14.25 | -2.2 |
| 2019 (6) | 4.13 | -12.5 | 29.09 | 1.39 | 7.65 | -4.37 | 3.86 | 144.71 | 6.93 | -4.02 | 5.88 | 8.69 | 16.07 | -20.21 | 9.07 | -6.3 | 1.40 | -15.15 | 11.65 | 24.2 | 78.42 | -35.34 | 110.00 | -1.31 | -10.00 | 0 | 0.00 | 0 | 14.57 | 13.47 |
| 2018 (5) | 4.72 | 39.64 | 28.69 | 7.09 | 8.00 | 40.35 | 1.58 | 0.03 | 7.22 | 33.7 | 5.41 | 24.94 | 20.14 | 21.99 | 9.68 | 35.38 | 1.65 | 7.84 | 9.38 | 26.08 | 121.28 | -6.87 | 111.46 | 6.31 | -10.42 | 0 | 0.00 | 0 | 12.84 | 2.07 |
| 2017 (4) | 3.38 | 13.04 | 26.79 | 21.33 | 5.70 | 20.76 | 1.58 | 27.33 | 5.40 | 50.84 | 4.33 | 48.8 | 16.51 | 22.48 | 7.15 | 33.4 | 1.53 | -10.0 | 7.44 | 45.03 | 130.23 | -24.6 | 104.84 | -18.9 | -4.84 | 0 | 0.00 | 0 | 12.58 | 12.12 |
| 2016 (3) | 2.99 | 0 | 22.08 | 0 | 4.72 | 0 | 1.24 | 0 | 3.58 | 0 | 2.91 | 0 | 13.48 | 0 | 5.36 | 0 | 1.70 | 0 | 5.13 | 0 | 172.72 | 0.86 | 129.27 | 0 | -31.71 | 0 | 0.00 | 0 | 11.22 | 0 |
| 2015 (2) | 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 | 171.24 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 |
