- 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) | 1.76 | -23.14 | 319.05 | 22.12 | 5.08 | 34.55 | 9.18 | -2.34 | 1539.29 | 10.21 | -11.91 | 134.17 | 8.01 | -11.78 | 191.27 | 2.43 | -23.1 | 311.86 | 1.67 | -23.39 | 209.26 | 0.20 | -13.04 | 42.86 | 14.49 | -6.03 | 23.63 | 48.92 | -7.51 | 8.64 | 89.95 | 10.89 | 582.59 | 10.05 | -46.8 | -88.43 | 34.81 | 20.62 | -9.28 |
| 24Q2 (19) | 2.29 | 32.37 | 78.91 | 21.05 | 4.41 | 23.97 | 9.40 | 24.5 | 76.36 | 11.59 | 5.84 | 41.17 | 9.08 | 7.46 | 40.99 | 3.16 | 30.04 | 76.54 | 2.18 | 24.57 | 62.69 | 0.23 | 15.0 | 21.05 | 15.42 | -2.41 | 15.25 | 52.89 | 13.16 | 5.97 | 81.12 | 17.53 | 24.83 | 18.88 | -39.05 | -46.08 | 28.86 | -13.2 | -6.69 |
| 24Q1 (18) | 1.73 | 103.53 | 652.17 | 20.16 | 7.35 | 44.72 | 7.55 | 38.53 | 574.11 | 10.95 | 71.63 | 498.36 | 8.45 | 104.6 | 560.16 | 2.43 | 102.5 | 683.87 | 1.75 | 92.31 | 483.33 | 0.20 | 0.0 | 17.65 | 15.80 | 36.8 | 101.53 | 46.74 | 0.28 | 27.18 | 69.02 | -19.37 | 12.61 | 30.98 | 115.18 | -19.97 | 33.25 | 5.19 | -9.38 |
| 23Q4 (17) | 0.85 | 102.38 | -51.98 | 18.78 | 14.23 | -19.98 | 5.45 | 873.21 | -55.87 | 6.38 | 46.33 | -40.98 | 4.13 | 50.18 | -42.8 | 1.20 | 103.39 | -50.82 | 0.91 | 68.52 | -49.16 | 0.20 | 42.86 | -16.67 | 11.55 | -1.45 | -25.05 | 46.61 | 3.51 | 11.67 | 85.60 | 549.58 | -24.99 | 14.40 | -83.42 | 200.58 | 31.61 | -17.62 | 8.36 |
| 23Q3 (16) | 0.42 | -67.19 | -87.5 | 16.44 | -3.18 | -33.09 | 0.56 | -89.49 | -95.94 | 4.36 | -46.89 | -73.19 | 2.75 | -57.3 | -78.16 | 0.59 | -67.04 | -87.89 | 0.54 | -59.7 | -84.02 | 0.14 | -26.32 | -46.15 | 11.72 | -12.41 | -42.24 | 45.03 | -9.78 | 2.2 | 13.18 | -79.72 | -84.46 | 86.82 | 147.95 | 475.87 | 38.37 | 24.05 | 37.77 |
| 23Q2 (15) | 1.28 | 456.52 | -44.59 | 16.98 | 21.9 | -20.58 | 5.33 | 375.89 | -50.78 | 8.21 | 348.63 | -27.02 | 6.44 | 403.12 | -32.07 | 1.79 | 477.42 | -49.29 | 1.34 | 346.67 | -45.53 | 0.19 | 11.76 | -24.0 | 13.38 | 70.66 | -14.5 | 49.91 | 35.81 | -3.07 | 64.98 | 6.03 | -32.49 | 35.02 | -9.54 | 836.67 | 30.93 | -15.7 | 6.8 |
| 23Q1 (14) | 0.23 | -87.01 | -87.08 | 13.93 | -40.65 | -39.2 | 1.12 | -90.93 | -90.12 | 1.83 | -83.07 | -85.12 | 1.28 | -82.27 | -86.16 | 0.31 | -87.3 | -88.97 | 0.30 | -83.24 | -85.51 | 0.17 | -29.17 | -22.73 | 7.84 | -49.12 | -54.81 | 36.75 | -11.95 | -17.45 | 61.29 | -46.29 | -33.4 | 38.71 | 370.44 | 398.92 | 36.69 | 25.78 | 13.17 |
| 22Q4 (13) | 1.77 | -47.32 | 129.87 | 23.47 | -4.48 | 19.02 | 12.35 | -10.51 | 92.37 | 10.81 | -33.52 | 60.86 | 7.22 | -42.65 | 44.11 | 2.44 | -49.9 | 103.33 | 1.79 | -47.04 | 88.42 | 0.24 | -7.69 | 33.33 | 15.41 | -24.05 | 13.48 | 41.74 | -5.27 | 13.83 | 114.12 | 34.57 | 19.05 | -14.31 | -194.94 | -406.94 | 29.17 | 4.74 | -14.83 |
| 22Q3 (12) | 3.36 | 45.45 | 536.36 | 24.57 | 14.92 | 454.63 | 13.80 | 27.42 | 199.5 | 16.26 | 44.53 | 268.67 | 12.59 | 32.81 | 244.71 | 4.87 | 37.96 | 495.93 | 3.38 | 37.4 | 527.85 | 0.26 | 4.0 | 160.0 | 20.29 | 29.65 | 738.43 | 44.06 | -14.43 | 20.55 | 84.81 | -11.9 | -41.23 | 15.08 | 303.3 | 134.49 | 27.85 | -3.83 | -39.69 |
| 22Q2 (11) | 2.31 | 29.78 | 22.22 | 21.38 | -6.68 | -11.36 | 10.83 | -4.5 | -8.45 | 11.25 | -8.54 | -4.26 | 9.48 | 2.49 | 5.22 | 3.53 | 25.62 | 16.12 | 2.46 | 18.84 | 11.82 | 0.25 | 13.64 | 8.7 | 15.65 | -9.8 | -8.69 | 51.49 | 15.66 | 23.33 | 96.26 | 4.6 | -4.35 | 3.74 | -51.82 | 688.16 | 28.96 | -10.67 | -3.92 |
| 22Q1 (10) | 1.78 | 131.17 | 6.59 | 22.91 | 16.18 | 3.29 | 11.34 | 76.64 | 11.5 | 12.30 | 83.04 | 24.49 | 9.25 | 84.63 | 17.53 | 2.81 | 134.17 | 5.24 | 2.07 | 117.89 | 9.52 | 0.22 | 22.22 | -4.35 | 17.35 | 27.76 | 8.85 | 44.52 | 21.41 | -9.4 | 92.03 | -3.99 | -10.66 | 7.76 | 66.38 | 358.15 | 32.42 | -5.34 | 5.06 |
| 21Q4 (9) | 0.77 | 200.0 | -45.39 | 19.72 | 345.15 | -9.08 | 6.42 | 146.29 | -26.8 | 6.72 | 169.71 | -21.4 | 5.01 | 157.59 | -31.09 | 1.20 | 197.56 | -47.37 | 0.95 | 220.25 | -42.07 | 0.18 | 80.0 | -14.29 | 13.58 | 461.16 | -13.94 | 36.67 | 0.33 | -28.28 | 95.85 | -33.58 | -6.74 | 4.66 | 110.67 | 291.86 | 34.25 | -25.83 | 6.63 |
| 21Q3 (8) | -0.77 | -140.74 | 24.51 | 4.43 | -81.63 | -63.63 | -13.87 | -217.24 | -158.29 | -9.64 | -182.04 | 6.13 | -8.70 | -196.56 | 0.23 | -1.23 | -140.46 | 24.54 | -0.79 | -135.91 | 16.84 | 0.10 | -56.52 | -16.67 | 2.42 | -85.88 | -3.59 | 36.55 | -12.46 | -26.38 | 144.31 | 43.4 | 175.38 | -43.71 | -6777.45 | -191.84 | 46.18 | 53.22 | 2.39 |
| 21Q2 (7) | 1.89 | 13.17 | 48.82 | 24.12 | 8.75 | 23.19 | 11.83 | 16.32 | 29.86 | 11.75 | 18.93 | 58.36 | 9.01 | 14.49 | 70.64 | 3.04 | 13.86 | 52.76 | 2.20 | 16.4 | 56.03 | 0.23 | 0.0 | -4.17 | 17.14 | 7.53 | 23.22 | 41.75 | -15.04 | -22.18 | 100.64 | -2.3 | -18.07 | -0.64 | 78.85 | 97.22 | 30.14 | -2.33 | 7.45 |
| 21Q1 (6) | 1.67 | 18.44 | 0 | 22.18 | 2.26 | 0 | 10.17 | 15.96 | 0 | 9.88 | 15.56 | 0 | 7.87 | 8.25 | 0 | 2.67 | 17.11 | 0 | 1.89 | 15.24 | 0 | 0.23 | 9.52 | 0 | 15.94 | 1.01 | 0 | 49.14 | -3.89 | 0 | 103.01 | 0.22 | 0 | -3.01 | -23.65 | 0 | 30.86 | -3.92 | 0 |
| 20Q4 (5) | 1.41 | 238.24 | 0 | 21.69 | 78.08 | 0 | 8.77 | 263.31 | 0 | 8.55 | 183.25 | 0 | 7.27 | 183.37 | 0 | 2.28 | 239.88 | 0 | 1.64 | 272.63 | 0 | 0.21 | 75.0 | 0 | 15.78 | 528.69 | 0 | 51.13 | 2.98 | 0 | 102.78 | 96.13 | 0 | -2.43 | -105.11 | 0 | 32.12 | -28.78 | 0 |
| 20Q3 (4) | -1.02 | -180.31 | 0.0 | 12.18 | -37.79 | 0.0 | -5.37 | -158.95 | 0.0 | -10.27 | -238.41 | 0.0 | -8.72 | -265.15 | 0.0 | -1.63 | -181.91 | 0.0 | -0.95 | -167.38 | 0.0 | 0.12 | -50.0 | 0.0 | 2.51 | -81.96 | 0.0 | 49.65 | -7.46 | 0.0 | 52.40 | -57.34 | 0.0 | 47.60 | 308.48 | 0.0 | 45.10 | 60.78 | 0.0 |
| 20Q2 (3) | 1.27 | 0 | 0.0 | 19.58 | 0 | 0.0 | 9.11 | 0 | 0.0 | 7.42 | 0 | 0.0 | 5.28 | 0 | 0.0 | 1.99 | 0 | 0.0 | 1.41 | 0 | 0.0 | 0.24 | 0 | 0.0 | 13.91 | 0 | 0.0 | 53.65 | 0 | 0.0 | 122.83 | 0 | 0.0 | -22.83 | 0 | 0.0 | 28.05 | 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) | 2.78 | -69.85 | 16.66 | -27.97 | 3.38 | -72.2 | 5.05 | 25.32 | 5.38 | -57.84 | 3.80 | -60.95 | 3.89 | -71.73 | 3.10 | -69.61 | 0.71 | -29.7 | 11.20 | -35.03 | 46.61 | 11.67 | 62.83 | -34.08 | 37.17 | 691.68 | 0.09 | -52.5 | 34.03 | 15.71 |
| 2022 (9) | 9.22 | 169.59 | 23.13 | 17.17 | 12.16 | 88.53 | 4.03 | -34.29 | 12.76 | 82.29 | 9.73 | 85.69 | 13.76 | 143.11 | 10.20 | 135.57 | 1.01 | 34.67 | 17.24 | 24.21 | 41.74 | 13.83 | 95.30 | 3.45 | 4.70 | -40.34 | 0.18 | 2.06 | 29.41 | -12.42 |
| 2021 (8) | 3.42 | 45.53 | 19.74 | 6.3 | 6.45 | 10.45 | 6.14 | -9.36 | 7.00 | 62.79 | 5.24 | 72.94 | 5.66 | 51.74 | 4.33 | 47.28 | 0.75 | -5.06 | 13.88 | 15.19 | 36.67 | -28.28 | 92.13 | -32.13 | 7.87 | 0 | 0.18 | 120.61 | 33.58 | 0.24 |
| 2020 (7) | 2.35 | -60.96 | 18.57 | -13.75 | 5.84 | -37.54 | 6.77 | 35.94 | 4.30 | -49.11 | 3.03 | -50.25 | 3.73 | -60.65 | 2.94 | -57.14 | 0.79 | -22.55 | 12.05 | -15.79 | 51.13 | -14.98 | 135.74 | 22.75 | -35.74 | 0 | 0.08 | 0 | 33.50 | 6.18 |
| 2019 (6) | 6.02 | -25.59 | 21.53 | -2.45 | 9.35 | -15.61 | 4.98 | 26.46 | 8.45 | -22.41 | 6.09 | -25.18 | 9.48 | -31.2 | 6.86 | -30.92 | 1.02 | -13.56 | 14.31 | -6.35 | 60.14 | 33.64 | 110.58 | 8.63 | -10.65 | 0 | 0.00 | 0 | 31.55 | 7.72 |
| 2018 (5) | 8.09 | -34.6 | 22.07 | -12.9 | 11.08 | -30.71 | 3.94 | -5.43 | 10.89 | -32.57 | 8.14 | -46.06 | 13.78 | 0 | 9.93 | 0 | 1.18 | 0 | 15.28 | -25.93 | 45.00 | 8.72 | 101.80 | 2.8 | -1.80 | 0 | 0.00 | 0 | 29.29 | 1.14 |
| 2017 (4) | 12.37 | 0 | 25.34 | 0 | 15.99 | 0 | 4.16 | 0 | 16.15 | 0 | 15.09 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 20.63 | 0 | 41.39 | 0 | 99.03 | 0 | 0.97 | 0 | 0.00 | 0 | 28.96 | 0 |
