- 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) | 2.31 | 12.14 | 76.34 | 18.96 | 3.49 | -3.76 | 11.20 | 21.08 | 57.52 | 11.08 | -6.18 | 23.11 | 8.93 | -6.49 | 29.8 | 5.37 | 3.87 | 52.12 | 3.45 | 6.15 | 51.32 | 0.39 | 14.71 | 18.18 | 13.16 | -7.0 | 15.44 | 50.58 | -17.46 | -8.44 | 101.29 | 29.43 | 27.65 | -1.29 | -105.94 | -106.25 | 18.86 | -12.56 | 1.07 |
| 24Q2 (19) | 2.06 | 17.71 | 29.56 | 18.32 | -0.65 | -10.94 | 9.25 | 9.73 | 14.2 | 11.81 | 4.7 | -4.83 | 9.55 | 0.63 | -3.54 | 5.17 | 14.89 | 15.4 | 3.25 | 12.46 | 14.04 | 0.34 | 13.33 | 17.24 | 14.15 | 1.29 | -5.6 | 61.28 | 6.98 | 11.64 | 78.26 | 4.35 | 20.75 | 21.74 | -13.04 | -36.55 | 21.57 | 7.15 | 11.36 |
| 24Q1 (18) | 1.75 | 37.8 | 629.17 | 18.44 | -11.56 | 63.33 | 8.43 | 5.64 | 2619.35 | 11.28 | 34.61 | 618.47 | 9.49 | 40.8 | 512.26 | 4.50 | 36.78 | 571.64 | 2.89 | 35.68 | 572.09 | 0.30 | -6.25 | 7.14 | 13.97 | 28.17 | 302.59 | 57.28 | 5.62 | -3.26 | 75.00 | -21.3 | 225.0 | 25.00 | 431.25 | -70.45 | 20.13 | -12.29 | -19.25 |
| 23Q4 (17) | 1.27 | -3.05 | 19.81 | 20.85 | 5.84 | 3.47 | 7.98 | 12.24 | 51.14 | 8.38 | -6.89 | 72.78 | 6.74 | -2.03 | 8.53 | 3.29 | -6.8 | 17.08 | 2.13 | -6.58 | 20.34 | 0.32 | -3.03 | 14.29 | 10.90 | -4.39 | 107.62 | 54.23 | -1.83 | 2.13 | 95.29 | 20.1 | -10.92 | 4.71 | -77.21 | 150.59 | 22.95 | 22.99 | 40.45 |
| 23Q3 (16) | 1.31 | -17.61 | 16.96 | 19.70 | -4.23 | 21.6 | 7.11 | -12.22 | 76.43 | 9.00 | -27.48 | 17.49 | 6.88 | -30.51 | 38.99 | 3.53 | -21.21 | 7.95 | 2.28 | -20.0 | 18.75 | 0.33 | 13.79 | -15.38 | 11.40 | -23.95 | 20.63 | 55.24 | 0.64 | -15.81 | 79.35 | 22.42 | 52.22 | 20.65 | -39.72 | -55.88 | 18.66 | -3.67 | -9.68 |
| 23Q2 (15) | 1.59 | 562.5 | 34.75 | 20.57 | 82.2 | 26.27 | 8.10 | 2512.9 | 1073.91 | 12.41 | 690.45 | 93.3 | 9.90 | 538.71 | 88.93 | 4.48 | 568.66 | 23.42 | 2.85 | 562.79 | 39.02 | 0.29 | 3.57 | -25.64 | 14.99 | 331.99 | 75.94 | 54.89 | -7.3 | -27.71 | 64.81 | 180.86 | 507.64 | 34.26 | -59.51 | -61.65 | 19.37 | -22.3 | -17.5 |
| 23Q1 (14) | 0.24 | -77.36 | 226.32 | 11.29 | -43.97 | -6.07 | 0.31 | -94.13 | 111.57 | 1.57 | -67.63 | 173.02 | 1.55 | -75.04 | 268.48 | 0.67 | -76.16 | 219.64 | 0.43 | -75.71 | 265.38 | 0.28 | 0.0 | -12.5 | 3.47 | -33.9 | 3254.55 | 59.21 | 11.51 | -28.52 | 23.08 | -78.43 | -81.54 | 84.62 | 1009.62 | 438.46 | 24.93 | 52.57 | 15.74 |
| 22Q4 (13) | 1.06 | -5.36 | 135.56 | 20.15 | 24.38 | 21.83 | 5.28 | 31.02 | 157.56 | 4.85 | -36.68 | 137.75 | 6.21 | 25.45 | 243.09 | 2.81 | -14.07 | 108.15 | 1.77 | -7.81 | 139.19 | 0.28 | -28.21 | -30.0 | 5.25 | -44.44 | 50.43 | 53.10 | -19.07 | -45.0 | 106.98 | 105.22 | 6.98 | -9.30 | -119.87 | 0 | 16.34 | -20.91 | -10.66 |
| 22Q3 (12) | 1.12 | -5.08 | -34.5 | 16.20 | -0.55 | -22.23 | 4.03 | 484.06 | -48.13 | 7.66 | 19.31 | -18.16 | 4.95 | -5.53 | -29.18 | 3.27 | -9.92 | -37.83 | 1.92 | -6.34 | -35.79 | 0.39 | 0.0 | -9.3 | 9.45 | 10.92 | -13.62 | 65.61 | -13.59 | -8.66 | 52.13 | 388.7 | -36.83 | 46.81 | -47.6 | 183.6 | 20.66 | -12.01 | 28.0 |
| 22Q2 (11) | 1.18 | 721.05 | -40.4 | 16.29 | 35.52 | -27.98 | 0.69 | 125.75 | -91.91 | 6.42 | 398.6 | -31.34 | 5.24 | 669.57 | -37.02 | 3.63 | 748.21 | -41.07 | 2.05 | 888.46 | -42.58 | 0.39 | 21.88 | -9.3 | 8.52 | 7845.45 | -22.12 | 75.93 | -8.33 | -6.12 | 10.67 | -91.47 | -88.28 | 89.33 | 457.33 | 892.59 | 23.48 | 9.01 | 40.51 |
| 22Q1 (10) | -0.19 | -142.22 | -132.76 | 12.02 | -27.33 | -33.41 | -2.68 | -230.73 | -173.22 | -2.15 | -205.39 | -147.99 | -0.92 | -150.83 | -131.62 | -0.56 | -141.48 | -131.28 | -0.26 | -135.14 | -124.53 | 0.32 | -20.0 | -11.11 | -0.11 | -103.15 | -101.72 | 82.83 | -14.2 | 28.08 | 125.00 | 25.0 | 51.52 | -25.00 | 0 | -242.86 | 21.54 | 17.77 | 19.53 |
| 21Q4 (9) | 0.45 | -73.68 | -96.22 | 16.54 | -20.6 | -27.65 | 2.05 | -73.62 | -76.36 | 2.04 | -78.21 | -77.33 | 1.81 | -74.11 | -71.22 | 1.35 | -74.33 | -76.88 | 0.74 | -75.25 | -69.55 | 0.40 | -6.98 | 2.56 | 3.49 | -68.1 | -67.26 | 96.54 | 34.4 | 24.3 | 100.00 | 21.18 | 3.57 | 0.00 | -100.0 | -100.0 | 18.29 | 13.32 | -0.49 |
| 21Q3 (8) | 1.71 | -13.64 | -91.35 | 20.83 | -7.91 | -1.56 | 7.77 | -8.91 | -29.43 | 9.36 | 0.11 | -22.19 | 6.99 | -15.99 | -29.11 | 5.26 | -14.61 | -69.22 | 2.99 | -16.25 | -28.64 | 0.43 | 0.0 | 2.38 | 10.94 | 0.0 | -19.97 | 71.83 | -11.19 | -74.69 | 82.52 | -9.31 | -9.22 | 16.50 | 83.39 | 99.71 | 16.14 | -3.41 | 6.32 |
| 21Q2 (7) | 1.98 | 241.38 | -68.97 | 22.62 | 25.32 | 14.42 | 8.53 | 133.06 | 368.68 | 9.35 | 108.71 | 74.77 | 8.32 | 185.91 | 156.79 | 6.16 | 244.13 | -0.32 | 3.57 | 236.79 | 134.87 | 0.43 | 19.44 | -6.52 | 10.94 | 71.21 | 26.77 | 80.88 | 25.07 | -72.36 | 91.00 | 10.3 | 167.94 | 9.00 | -48.57 | -86.37 | 16.71 | -7.27 | -23.24 |
| 21Q1 (6) | 0.58 | -95.12 | 0 | 18.05 | -21.04 | 0 | 3.66 | -57.79 | 0 | 4.48 | -50.22 | 0 | 2.91 | -53.74 | 0 | 1.79 | -69.35 | 0 | 1.06 | -56.38 | 0 | 0.36 | -7.69 | 0 | 6.39 | -40.06 | 0 | 64.67 | -16.74 | 0 | 82.50 | -14.55 | 0 | 17.50 | 407.5 | 0 | 18.02 | -1.96 | 0 |
| 20Q4 (5) | 11.89 | -39.86 | 0 | 22.86 | 8.03 | 0 | 8.67 | -21.25 | 0 | 9.00 | -25.19 | 0 | 6.29 | -36.21 | 0 | 5.84 | -65.83 | 0 | 2.43 | -42.0 | 0 | 0.39 | -7.14 | 0 | 10.66 | -22.02 | 0 | 77.67 | -72.63 | 0 | 96.55 | 6.21 | 0 | 3.45 | -58.28 | 0 | 18.38 | 21.08 | 0 |
| 20Q3 (4) | 19.77 | 209.87 | 0.0 | 21.16 | 7.03 | 0.0 | 11.01 | 504.95 | 0.0 | 12.03 | 124.86 | 0.0 | 9.86 | 204.32 | 0.0 | 17.09 | 176.54 | 0.0 | 4.19 | 175.66 | 0.0 | 0.42 | -8.7 | 0.0 | 13.67 | 58.4 | 0.0 | 283.81 | -3.02 | 0.0 | 90.91 | 167.68 | 0.0 | 8.26 | -87.49 | 0.0 | 15.18 | -30.27 | 0.0 |
| 20Q2 (3) | 6.38 | 0 | 0.0 | 19.77 | 0 | 0.0 | 1.82 | 0 | 0.0 | 5.35 | 0 | 0.0 | 3.24 | 0 | 0.0 | 6.18 | 0 | 0.0 | 1.52 | 0 | 0.0 | 0.46 | 0 | 0.0 | 8.63 | 0 | 0.0 | 292.66 | 0 | 0.0 | 33.96 | 0 | 0.0 | 66.04 | 0 | 0.0 | 21.77 | 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) | 4.41 | 34.45 | 18.34 | 13.7 | 6.06 | 224.06 | 2.32 | 55.13 | 7.96 | 74.56 | 6.35 | 59.15 | 11.65 | 21.35 | 7.59 | 34.34 | 1.19 | -15.0 | 10.36 | 67.1 | 54.23 | 2.13 | 76.17 | 85.13 | 23.83 | -59.52 | 0.25 | 86.51 | 21.39 | 3.13 |
| 2022 (9) | 3.28 | -30.36 | 16.13 | -17.49 | 1.87 | -66.31 | 1.50 | -0.76 | 4.56 | -28.3 | 3.99 | -21.46 | 9.60 | -32.82 | 5.65 | -26.24 | 1.40 | -6.67 | 6.20 | -22.01 | 53.10 | -45.0 | 41.15 | -52.82 | 58.85 | 360.45 | 0.13 | -20.92 | 20.74 | 20.16 |
| 2021 (8) | 4.71 | -87.43 | 19.55 | -8.0 | 5.55 | -22.7 | 1.51 | -28.15 | 6.36 | -27.81 | 5.08 | -21.6 | 14.29 | -26.83 | 7.66 | -3.77 | 1.50 | 22.95 | 7.95 | -27.79 | 96.54 | 24.3 | 87.22 | 6.97 | 12.78 | -30.76 | 0.17 | 42.78 | 17.26 | -6.3 |
| 2020 (7) | 37.48 | -4.8 | 21.25 | 7.16 | 7.18 | 18.87 | 2.10 | 22.84 | 8.81 | 16.07 | 6.48 | 13.68 | 19.53 | -47.6 | 7.96 | -1.49 | 1.22 | -12.86 | 11.01 | 16.63 | 77.67 | -77.19 | 81.54 | 2.71 | 18.46 | -10.43 | 0.12 | 0 | 18.42 | 3.89 |
| 2019 (6) | 39.37 | 61.42 | 19.83 | 34.53 | 6.04 | 100.66 | 1.71 | 18.17 | 7.59 | 85.57 | 5.70 | 87.5 | 37.27 | 0 | 8.08 | 0 | 1.40 | 0 | 9.44 | 68.27 | 340.58 | -13.42 | 79.39 | 7.6 | 20.61 | -21.39 | 0.00 | 0 | 17.73 | -1.72 |
| 2018 (5) | 24.39 | 0 | 14.74 | 0 | 3.01 | 0 | 1.45 | 0 | 4.09 | 0 | 3.04 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 5.61 | 0 | 393.35 | 0 | 73.78 | 0 | 26.22 | 0 | 0.00 | 0 | 18.04 | 0 |
