- 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) | 3.94 | 1.29 | 48.68 | 60.75 | 0.96 | 11.06 | 30.02 | -11.37 | 9.6 | 29.59 | -15.38 | 2.32 | 20.32 | -18.72 | -2.59 | 6.71 | -22.34 | 9.11 | 4.31 | -15.82 | 15.55 | 0.21 | 5.0 | 16.67 | 30.79 | -15.37 | 0.65 | 48.34 | -29.92 | -15.03 | 101.55 | 4.91 | 7.47 | -1.55 | -148.2 | -128.06 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 3.89 | 79.26 | 194.7 | 60.17 | 7.6 | 16.09 | 33.87 | 39.96 | 59.99 | 34.97 | 28.66 | 50.67 | 25.00 | 25.44 | 45.1 | 8.64 | 81.89 | 170.85 | 5.12 | 71.24 | 182.87 | 0.20 | 33.33 | 100.0 | 36.38 | 23.95 | 40.19 | 68.98 | -2.69 | -10.11 | 96.79 | 8.75 | 7.35 | 3.21 | -70.83 | -60.86 | 31.43 | -15.03 | -12.38 |
| 24Q1 (18) | 2.17 | 48.63 | -9.21 | 55.92 | 4.7 | 3.52 | 24.20 | -4.61 | -19.49 | 27.18 | 23.71 | -10.18 | 19.93 | 30.86 | -16.08 | 4.75 | 50.79 | -13.64 | 2.99 | 43.75 | -11.28 | 0.15 | 15.38 | 7.14 | 29.35 | 20.73 | -8.51 | 70.89 | 36.48 | -15.02 | 89.00 | -22.94 | -10.14 | 11.00 | 171.0 | 1055.0 | 36.99 | 17.09 | 31.45 |
| 23Q4 (17) | 1.46 | -44.91 | -53.21 | 53.41 | -2.36 | -4.91 | 25.37 | -7.37 | -28.23 | 21.97 | -24.03 | -37.01 | 15.23 | -26.99 | -42.68 | 3.15 | -48.78 | -55.06 | 2.08 | -44.24 | -56.3 | 0.13 | -27.78 | -27.78 | 24.31 | -20.53 | -33.03 | 51.94 | -8.7 | 6.46 | 115.49 | 22.23 | 13.88 | -15.49 | -381.09 | -992.25 | 31.59 | -11.93 | 21.59 |
| 23Q3 (16) | 2.65 | 100.76 | 14.22 | 54.70 | 5.54 | 12.14 | 27.39 | 29.38 | 0.55 | 28.92 | 24.6 | 2.34 | 20.86 | 21.07 | -7.62 | 6.15 | 92.79 | 9.43 | 3.73 | 106.08 | -1.58 | 0.18 | 80.0 | 5.88 | 30.59 | 17.88 | 2.07 | 56.89 | -25.87 | 16.89 | 94.49 | 4.8 | -1.62 | 5.51 | -32.76 | 39.17 | 35.87 | 0.0 | 40.89 |
| 23Q2 (15) | 1.32 | -44.77 | -49.23 | 51.83 | -4.05 | 0.97 | 21.17 | -29.57 | -32.26 | 23.21 | -23.3 | -29.94 | 17.23 | -27.45 | -33.5 | 3.19 | -42.0 | -49.37 | 1.81 | -46.29 | -60.31 | 0.10 | -28.57 | -44.44 | 25.95 | -19.11 | -24.52 | 76.74 | -8.01 | 51.57 | 90.16 | -8.97 | -4.05 | 8.20 | 760.66 | 35.83 | 35.87 | 27.47 | 42.06 |
| 23Q1 (14) | 2.39 | -23.4 | 17.73 | 54.02 | -3.83 | 8.21 | 30.06 | -14.96 | 7.59 | 30.26 | -13.25 | 2.79 | 23.75 | -10.61 | 2.46 | 5.50 | -21.54 | 12.02 | 3.37 | -29.2 | -13.14 | 0.14 | -22.22 | -17.65 | 32.08 | -11.63 | 2.99 | 83.42 | 70.98 | 212.32 | 99.05 | -2.34 | 4.87 | 0.95 | 167.14 | -82.86 | 28.14 | 8.31 | 4.49 |
| 22Q4 (13) | 3.12 | 34.48 | 22.35 | 56.17 | 15.15 | 14.24 | 35.35 | 29.77 | 22.32 | 34.88 | 23.43 | 20.03 | 26.57 | 17.67 | 19.31 | 7.01 | 24.73 | 15.3 | 4.76 | 25.59 | -1.24 | 0.18 | 5.88 | -18.18 | 36.30 | 21.12 | 19.17 | 48.79 | 0.25 | 80.3 | 101.42 | 5.6 | 2.37 | -1.42 | -135.82 | -253.19 | 25.98 | 2.04 | 9.16 |
| 22Q3 (12) | 2.32 | -10.77 | 65.71 | 48.78 | -4.97 | -5.59 | 27.24 | -12.83 | 22.92 | 28.26 | -14.7 | 19.49 | 22.58 | -12.85 | 30.14 | 5.62 | -10.79 | 37.41 | 3.79 | -16.89 | 23.45 | 0.17 | -5.56 | -5.56 | 29.97 | -12.83 | 18.04 | 48.67 | -3.87 | 87.84 | 96.04 | 2.21 | 2.78 | 3.96 | -34.37 | -39.6 | 25.46 | 0.83 | -26.39 |
| 22Q2 (11) | 2.60 | 28.08 | 52.94 | 51.33 | 2.82 | -2.99 | 31.25 | 11.85 | 7.94 | 33.13 | 12.53 | 16.61 | 25.91 | 11.78 | 16.98 | 6.30 | 28.31 | -2.63 | 4.56 | 17.53 | 1.33 | 0.18 | 5.88 | -10.0 | 34.38 | 10.37 | 14.45 | 50.63 | 89.55 | 13.06 | 93.97 | -0.51 | -7.38 | 6.03 | 8.62 | 516.38 | 25.25 | -6.24 | -11.43 |
| 22Q1 (10) | 2.03 | -20.39 | 30.97 | 49.92 | 1.53 | -0.74 | 27.94 | -3.32 | 2.46 | 29.44 | 1.31 | 5.48 | 23.18 | 4.09 | 4.27 | 4.91 | -19.24 | -21.44 | 3.88 | -19.5 | -13.59 | 0.17 | -22.73 | -15.0 | 31.15 | 2.27 | 3.83 | 26.71 | -1.29 | -39.91 | 94.44 | -4.67 | -3.98 | 5.56 | 500.0 | 238.89 | 26.93 | 13.15 | -2.85 |
| 21Q4 (9) | 2.55 | 82.14 | 78.32 | 49.17 | -4.84 | -10.84 | 28.90 | 30.42 | -1.06 | 29.06 | 22.88 | -4.12 | 22.27 | 28.36 | -5.03 | 6.08 | 48.66 | 1.0 | 4.82 | 57.0 | 4.56 | 0.22 | 22.22 | 10.0 | 30.46 | 19.97 | -7.64 | 27.06 | 4.44 | -22.66 | 99.07 | 6.03 | 2.68 | 0.93 | -85.88 | -73.61 | 23.80 | -31.19 | -14.2 |
| 21Q3 (8) | 1.40 | -17.65 | 40.0 | 51.67 | -2.34 | 5.97 | 22.16 | -23.45 | -12.51 | 23.65 | -16.75 | -5.93 | 17.35 | -21.67 | -5.96 | 4.09 | -36.79 | -10.11 | 3.07 | -31.78 | -13.28 | 0.18 | -10.0 | -5.26 | 25.39 | -15.48 | -7.64 | 25.91 | -42.14 | -5.54 | 93.44 | -7.89 | -6.56 | 6.56 | 552.46 | 0 | 34.59 | 21.33 | 30.23 |
| 21Q2 (7) | 1.70 | 9.68 | 54.55 | 52.91 | 5.21 | 2.06 | 28.95 | 6.16 | 11.13 | 28.41 | 1.79 | 9.65 | 22.15 | -0.36 | 0.14 | 6.47 | 3.52 | 28.12 | 4.50 | 0.22 | 19.36 | 0.20 | 0.0 | 17.65 | 30.04 | 0.13 | 5.48 | 44.78 | 0.74 | 45.63 | 101.45 | 3.14 | 1.45 | -1.45 | -188.41 | 0 | 28.51 | 2.85 | -14.31 |
| 21Q1 (6) | 1.55 | 8.39 | 0 | 50.29 | -8.81 | 0 | 27.27 | -6.64 | 0 | 27.91 | -7.92 | 0 | 22.23 | -5.2 | 0 | 6.25 | 3.82 | 0 | 4.49 | -2.6 | 0 | 0.20 | 0.0 | 0 | 30.00 | -9.04 | 0 | 44.45 | 27.04 | 0 | 98.36 | 1.94 | 0 | 1.64 | -53.28 | 0 | 27.72 | -0.07 | 0 |
| 20Q4 (5) | 1.43 | 43.0 | 0 | 55.15 | 13.11 | 0 | 29.21 | 15.32 | 0 | 30.31 | 20.56 | 0 | 23.45 | 27.1 | 0 | 6.02 | 32.31 | 0 | 4.61 | 30.23 | 0 | 0.20 | 5.26 | 0 | 32.98 | 19.97 | 0 | 34.99 | 27.56 | 0 | 96.49 | -3.51 | 0 | 3.51 | 0 | 0 | 27.74 | 4.44 | 0 |
| 20Q3 (4) | 1.00 | -9.09 | 0.0 | 48.76 | -5.94 | 0.0 | 25.33 | -2.76 | 0.0 | 25.14 | -2.97 | 0.0 | 18.45 | -16.59 | 0.0 | 4.55 | -9.9 | 0.0 | 3.54 | -6.1 | 0.0 | 0.19 | 11.76 | 0.0 | 27.49 | -3.48 | 0.0 | 27.43 | -10.8 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0.0 | 26.56 | -20.17 | 0.0 |
| 20Q2 (3) | 1.10 | 0 | 0.0 | 51.84 | 0 | 0.0 | 26.05 | 0 | 0.0 | 25.91 | 0 | 0.0 | 22.12 | 0 | 0.0 | 5.05 | 0 | 0.0 | 3.77 | 0 | 0.0 | 0.17 | 0 | 0.0 | 28.48 | 0 | 0.0 | 30.75 | 0 | 0.0 | 100.00 | 0 | 0.0 | -0.00 | 0 | 0.0 | 33.27 | 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) | 7.82 | -22.42 | 53.67 | 3.67 | 26.40 | -14.01 | 1.75 | 45.81 | 26.52 | -16.08 | 19.56 | -20.71 | 16.76 | -28.22 | 11.30 | -33.29 | 0.57 | -16.18 | 28.74 | -13.22 | 51.94 | 6.46 | 99.72 | 2.7 | 0.55 | -81.01 | 0.16 | 29.29 | 32.90 | 27.17 |
| 2022 (9) | 10.08 | 42.37 | 51.77 | 1.87 | 30.70 | 13.7 | 1.20 | -23.02 | 31.60 | 15.29 | 24.67 | 17.03 | 23.35 | 9.68 | 16.94 | 2.98 | 0.68 | -12.82 | 33.12 | 13.89 | 48.79 | 80.3 | 97.10 | -1.25 | 2.90 | 73.53 | 0.13 | -24.86 | 25.87 | -8.2 |
| 2021 (8) | 7.08 | 36.42 | 50.82 | -1.36 | 27.00 | -2.14 | 1.56 | -28.84 | 27.41 | -1.79 | 21.08 | -3.79 | 21.29 | -7.07 | 16.45 | -2.26 | 0.78 | 2.63 | 29.08 | -3.93 | 27.06 | -22.66 | 98.33 | -0.2 | 1.67 | 70.57 | 0.17 | 72.42 | 28.18 | -1.26 |
| 2020 (7) | 5.19 | 5.92 | 51.52 | 0.84 | 27.59 | 12.75 | 2.19 | 1.55 | 27.91 | 11.37 | 21.91 | 10.88 | 22.91 | -4.06 | 16.83 | -4.7 | 0.76 | -14.61 | 30.27 | 10.15 | 34.99 | -9.87 | 98.53 | 0.85 | 0.98 | -57.35 | 0.10 | 0 | 28.54 | -11.94 |
| 2019 (6) | 4.90 | 101.65 | 51.09 | -8.54 | 24.47 | 31.63 | 2.16 | -26.45 | 25.06 | 25.24 | 19.76 | 34.79 | 23.88 | 91.81 | 17.66 | 87.67 | 0.89 | 41.27 | 27.48 | 17.04 | 38.82 | 18.28 | 97.70 | 6.04 | 2.30 | -65.9 | 0.00 | 0 | 32.41 | -19.08 |
| 2018 (5) | 2.43 | -56.53 | 55.86 | -3.07 | 18.59 | -37.22 | 2.93 | 94.01 | 20.01 | -35.24 | 14.66 | -40.67 | 12.45 | -58.87 | 9.41 | -55.49 | 0.63 | -25.88 | 23.48 | -28.72 | 32.82 | -7.0 | 92.13 | -3.68 | 6.74 | 55.06 | 0.00 | 0 | 40.05 | 36.36 |
| 2017 (4) | 5.59 | 0 | 57.63 | 0 | 29.61 | 0 | 1.51 | 0 | 30.90 | 0 | 24.71 | 0 | 30.27 | 0 | 21.14 | 0 | 0.85 | 0 | 32.94 | 0 | 35.29 | -35.81 | 95.65 | 0 | 4.35 | 0 | 0.00 | 0 | 29.37 | 0 |
| 2016 (3) | 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 | 54.98 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 |
