- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q4 (20) | 3.50 | -9.56 | -2.51 | 32.85 | -0.7 | -3.07 | 11.83 | -14.4 | -21.71 | 13.60 | -9.15 | -15.21 | 11.98 | -6.41 | -11.19 | 3.56 | -13.8 | -17.21 | 2.67 | -11.0 | -16.82 | 0.22 | -4.35 | -8.33 | 16.63 | -7.3 | -11.02 | 33.01 | -7.09 | -3.42 | 86.94 | -5.8 | -7.83 | 13.06 | 69.5 | 124.77 | 16.03 | 6.37 | 8.83 |
| 24Q3 (19) | 3.87 | -12.64 | -14.19 | 33.08 | -5.84 | -10.4 | 13.82 | -9.44 | -16.7 | 14.97 | -14.94 | -23.89 | 12.80 | -16.78 | -24.53 | 4.13 | -15.02 | -22.8 | 3.00 | -9.09 | -17.81 | 0.23 | 9.52 | 9.52 | 17.94 | -13.04 | -19.98 | 35.53 | -16.46 | 3.92 | 92.30 | 6.39 | 9.38 | 7.70 | -41.85 | -50.68 | 15.07 | -4.62 | -5.4 |
| 24Q2 (18) | 4.43 | 22.38 | -10.14 | 35.13 | -1.15 | 0.0 | 15.26 | 0.73 | -8.79 | 17.60 | -1.12 | -7.27 | 15.38 | 1.79 | -5.7 | 4.86 | 8.72 | -15.33 | 3.30 | 5.43 | -6.78 | 0.21 | 0.0 | -4.55 | 20.63 | -0.72 | -3.91 | 42.53 | -20.33 | -29.78 | 86.75 | 1.92 | -1.61 | 13.25 | -11.01 | 12.0 | 15.80 | -1.25 | 6.83 |
| 24Q1 (17) | 3.62 | 0.84 | 45.97 | 35.54 | 4.87 | 17.99 | 15.15 | 0.26 | 40.93 | 17.80 | 10.97 | 41.16 | 15.11 | 12.01 | 44.73 | 4.47 | 3.95 | 60.22 | 3.13 | -2.49 | 66.49 | 0.21 | -12.5 | 16.67 | 20.78 | 11.18 | 33.12 | 53.38 | 56.17 | -17.05 | 85.12 | -9.77 | -0.15 | 14.88 | 156.23 | 0.86 | 16.00 | 8.62 | 8.33 |
| 23Q4 (16) | 3.59 | -20.4 | 16.94 | 33.89 | -8.21 | 13.42 | 15.11 | -8.92 | 22.55 | 16.04 | -18.45 | 30.09 | 13.49 | -20.46 | 15.6 | 4.30 | -19.63 | 39.61 | 3.21 | -12.05 | 47.25 | 0.24 | 14.29 | 26.32 | 18.69 | -16.64 | 23.69 | 34.18 | -0.03 | -2.76 | 94.33 | 11.79 | -5.67 | 5.81 | -62.8 | 0 | 14.73 | -7.53 | 6.12 |
| 23Q3 (15) | 4.51 | -8.52 | -25.94 | 36.92 | 5.1 | -11.63 | 16.59 | -0.84 | -22.69 | 19.67 | 3.64 | -21.26 | 16.96 | 3.99 | -17.95 | 5.35 | -6.79 | -11.86 | 3.65 | 3.11 | -0.27 | 0.21 | -4.55 | 16.67 | 22.42 | 4.42 | -18.53 | 34.19 | -43.55 | -27.43 | 84.38 | -4.3 | -1.8 | 15.62 | 32.04 | 10.96 | 15.93 | 7.71 | 0.19 |
| 23Q2 (14) | 4.93 | 98.79 | -45.94 | 35.13 | 16.63 | -33.57 | 16.73 | 55.63 | -47.64 | 18.98 | 50.52 | -44.47 | 16.31 | 56.23 | -41.96 | 5.74 | 105.73 | -42.37 | 3.54 | 88.3 | -29.62 | 0.22 | 22.22 | 22.22 | 21.47 | 37.54 | -41.11 | 60.57 | -5.87 | -29.33 | 88.17 | 3.44 | -5.69 | 11.83 | -19.85 | 81.64 | 14.79 | 0.14 | -17.33 |
| 23Q1 (13) | 2.48 | -19.22 | -79.02 | 30.12 | 0.8 | -44.06 | 10.75 | -12.81 | -69.13 | 12.61 | 2.27 | -65.88 | 10.44 | -10.54 | -64.99 | 2.79 | -9.42 | -77.07 | 1.88 | -13.76 | -72.67 | 0.18 | -5.26 | -21.74 | 15.61 | 3.31 | -59.63 | 64.35 | 83.07 | -42.45 | 85.24 | -14.76 | -9.51 | 14.76 | 0 | 154.32 | 14.77 | 6.41 | -8.54 |
| 22Q4 (12) | 3.07 | -49.59 | -79.24 | 29.88 | -28.48 | -47.96 | 12.33 | -42.54 | -67.9 | 12.33 | -50.64 | -68.74 | 11.67 | -43.54 | -64.72 | 3.08 | -49.26 | -78.48 | 2.18 | -40.44 | -76.96 | 0.19 | 5.56 | -34.48 | 15.11 | -45.09 | -63.08 | 35.15 | -25.39 | -28.54 | 100.00 | 16.38 | 2.69 | 0.00 | -100.0 | -100.0 | 13.88 | -12.7 | -18.69 |
| 22Q3 (11) | 6.09 | -33.22 | -61.19 | 41.78 | -20.99 | -27.58 | 21.46 | -32.83 | -45.31 | 24.98 | -26.92 | -37.91 | 20.67 | -26.44 | -39.42 | 6.07 | -39.06 | -67.95 | 3.66 | -27.24 | -69.11 | 0.18 | 0.0 | -48.57 | 27.52 | -24.52 | -33.85 | 47.11 | -45.04 | -12.24 | 85.93 | -8.09 | -11.91 | 14.07 | 116.14 | 473.6 | 15.90 | -11.12 | -3.52 |
| 22Q2 (10) | 9.12 | -22.84 | -29.85 | 52.88 | -1.78 | -7.0 | 31.95 | -8.24 | -15.59 | 34.18 | -7.52 | -11.77 | 28.10 | -5.77 | -15.21 | 9.96 | -18.16 | -46.77 | 5.03 | -26.89 | -54.48 | 0.18 | -21.74 | -45.45 | 36.46 | -5.72 | -9.75 | 85.71 | -23.35 | 26.77 | 93.49 | -0.75 | -4.33 | 6.51 | 12.22 | 184.93 | 17.89 | 10.77 | 3.89 |
| 22Q1 (9) | 11.82 | -20.08 | 80.46 | 53.84 | -6.23 | 14.14 | 34.82 | -9.35 | 23.74 | 36.96 | -6.29 | 29.1 | 29.82 | -9.85 | 23.48 | 12.17 | -14.95 | 13.1 | 6.88 | -27.27 | 2.23 | 0.23 | -20.69 | -17.86 | 38.67 | -5.52 | 25.19 | 111.82 | 127.32 | 56.33 | 94.20 | -3.27 | -4.23 | 5.80 | 121.33 | 235.69 | 16.15 | -5.39 | -0.12 |
| 21Q4 (8) | 14.79 | -5.74 | 266.09 | 57.42 | -0.47 | 48.72 | 38.41 | -2.12 | 92.43 | 39.44 | -1.96 | 92.3 | 33.08 | -3.05 | 97.26 | 14.31 | -24.45 | 86.81 | 9.46 | -20.17 | 80.53 | 0.29 | -17.14 | -6.45 | 40.93 | -1.61 | 81.51 | 49.19 | -8.36 | 0.59 | 97.38 | -0.17 | 0.09 | 2.62 | 6.85 | -3.34 | 17.07 | 3.58 | 14.33 |
| 21Q3 (7) | 15.69 | 20.69 | 496.58 | 57.69 | 1.46 | 78.99 | 39.24 | 3.67 | 144.33 | 40.23 | 3.85 | 148.79 | 34.12 | 2.96 | 141.3 | 18.94 | 1.23 | 194.1 | 11.85 | 7.24 | 179.48 | 0.35 | 6.06 | 16.67 | 41.60 | 2.97 | 127.2 | 53.68 | -20.6 | 21.61 | 97.55 | -0.17 | -1.83 | 2.45 | 7.36 | 285.85 | 16.48 | -4.3 | 30.07 |
| 21Q2 (6) | 13.00 | 98.47 | 434.98 | 56.86 | 20.54 | 62.5 | 37.85 | 34.51 | 150.0 | 38.74 | 35.31 | 106.17 | 33.14 | 37.23 | 97.61 | 18.71 | 73.88 | 194.18 | 11.05 | 64.19 | 205.25 | 0.33 | 17.86 | 57.14 | 40.40 | 30.79 | 84.56 | 67.61 | -5.48 | 10.76 | 97.71 | -0.65 | 21.41 | 2.29 | 32.21 | -88.29 | 17.22 | 6.49 | 0 |
| 21Q1 (5) | 6.55 | 62.13 | 169.55 | 47.17 | 22.17 | 46.35 | 28.14 | 40.98 | 65.72 | 28.63 | 39.59 | 63.41 | 24.15 | 44.01 | 58.57 | 10.76 | 40.47 | 38.3 | 6.73 | 28.44 | 54.71 | 0.28 | -9.68 | 0.0 | 30.89 | 36.98 | 53.45 | 71.53 | 46.28 | -27.77 | 98.36 | 1.1 | 1.49 | 1.73 | -36.27 | -44.07 | 16.17 | 8.31 | 8.74 |
| 20Q4 (4) | 4.04 | 53.61 | 0.0 | 38.61 | 19.8 | 0.0 | 19.96 | 24.28 | 0.0 | 20.51 | 26.84 | 0.0 | 16.77 | 18.6 | 0.0 | 7.66 | 18.94 | 0.0 | 5.24 | 23.58 | 0.0 | 0.31 | 3.33 | 0.0 | 22.55 | 23.16 | 0.0 | 48.90 | 10.78 | 0.0 | 97.29 | -2.09 | 0.0 | 2.71 | 326.5 | 0.0 | 14.93 | 17.84 | 0.0 |
| 20Q3 (3) | 2.63 | 8.23 | 0.0 | 32.23 | -7.89 | 0.0 | 16.06 | 6.08 | 0.0 | 16.17 | -13.94 | 0.0 | 14.14 | -15.68 | 0.0 | 6.44 | 1.26 | 0.0 | 4.24 | 17.13 | 0.0 | 0.30 | 42.86 | 0.0 | 18.31 | -16.35 | 0.0 | 44.14 | -27.69 | 0.0 | 99.36 | 23.46 | 0.0 | 0.64 | -96.74 | 0.0 | 12.67 | 0 | 0.0 |
| 20Q2 (2) | 2.43 | 0.0 | 0.0 | 34.99 | 8.56 | 0.0 | 15.14 | -10.84 | 0.0 | 18.79 | 7.25 | 0.0 | 16.77 | 10.11 | 0.0 | 6.36 | -18.25 | 0.0 | 3.62 | -16.78 | 0.0 | 0.21 | -25.0 | 0.0 | 21.89 | 8.74 | 0.0 | 61.04 | -38.36 | 0.0 | 80.48 | -16.95 | 0.0 | 19.52 | 531.44 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (1) | 2.43 | 0.0 | 0.0 | 32.23 | 0.0 | 0.0 | 16.98 | 0.0 | 0.0 | 17.52 | 0.0 | 0.0 | 15.23 | 0.0 | 0.0 | 7.78 | 0.0 | 0.0 | 4.35 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 20.13 | 0.0 | 0.0 | 99.03 | 0.0 | 0.0 | 96.91 | 0.0 | 0.0 | 3.09 | 0.0 | 0.0 | 14.87 | 0.0 | 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 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 (10) | 15.42 | -0.52 | 34.10 | -0.2 | 13.97 | -6.68 | 2.34 | 5.15 | 15.92 | -6.3 | 13.76 | -4.78 | 15.90 | -3.4 | 11.97 | -2.29 | 0.87 | 2.35 | 18.92 | -3.96 | 33.01 | -3.42 | 87.74 | -0.45 | 12.26 | 3.37 | 0.88 | -15.21 | 15.71 | 4.32 |
| 2023 (9) | 15.50 | -48.5 | 34.17 | -25.36 | 14.97 | -43.1 | 2.22 | 12.65 | 16.99 | -40.03 | 14.45 | -38.43 | 16.46 | -41.71 | 12.25 | -38.32 | 0.85 | 0.0 | 19.70 | -35.6 | 34.18 | -2.76 | 88.14 | -5.12 | 11.86 | 66.39 | 1.04 | 168.66 | 15.06 | -6.17 |
| 2022 (8) | 30.10 | -39.84 | 45.78 | -17.51 | 26.31 | -28.21 | 1.97 | 37.77 | 28.33 | -24.53 | 23.47 | -26.15 | 28.24 | -51.14 | 19.86 | -48.8 | 0.85 | -30.33 | 30.59 | -21.92 | 35.15 | -28.54 | 92.89 | -4.87 | 7.13 | 202.31 | 0.39 | 78.54 | 16.05 | -4.29 |
| 2021 (7) | 50.03 | 333.91 | 55.50 | 60.08 | 36.65 | 112.34 | 1.43 | -32.24 | 37.54 | 105.36 | 31.78 | 102.68 | 57.80 | 112.11 | 38.79 | 119.65 | 1.22 | 8.93 | 39.18 | 89.37 | 49.19 | 0.59 | 97.64 | 3.42 | 2.36 | -57.79 | 0.22 | -32.14 | 16.77 | 15.5 |
| 2020 (6) | 11.53 | 12.27 | 34.67 | 9.13 | 17.26 | 14.15 | 2.12 | 14.05 | 18.28 | 14.54 | 15.68 | 11.68 | 27.25 | -16.97 | 17.66 | -13.26 | 1.12 | -22.22 | 20.69 | 14.12 | 48.90 | -22.26 | 94.41 | -0.29 | 5.59 | 5.19 | 0.32 | -9.81 | 14.52 | 8.52 |
| 2019 (5) | 10.27 | 46.09 | 31.77 | 14.36 | 15.12 | 49.85 | 1.85 | -1.23 | 15.96 | 46.96 | 14.04 | 43.12 | 32.82 | 65.17 | 20.36 | 53.54 | 1.44 | 7.46 | 18.13 | 38.19 | 62.90 | 3.59 | 94.69 | 1.86 | 5.31 | -24.57 | 0.35 | -38.45 | 13.38 | 8.87 |
| 2018 (4) | 7.03 | -3.96 | 27.78 | 4.2 | 10.09 | 11.49 | 1.88 | 5.42 | 10.86 | 3.63 | 9.81 | 3.81 | 19.87 | 11.63 | 13.26 | 6.68 | 1.34 | 2.29 | 13.12 | 4.54 | 60.72 | 49.3 | 92.96 | 7.55 | 7.04 | -48.47 | 0.57 | 0 | 12.29 | -4.06 |
| 2017 (3) | 7.32 | -16.53 | 26.66 | -5.73 | 9.05 | -26.0 | 1.78 | 20.21 | 10.48 | -15.14 | 9.45 | -12.42 | 17.80 | -24.0 | 12.43 | -19.86 | 1.31 | -9.03 | 12.55 | -10.36 | 40.67 | -13.02 | 86.44 | -12.73 | 13.66 | 1222.25 | 0.00 | 0 | 12.81 | 10.05 |
| 2016 (2) | 8.77 | 24.4 | 28.28 | 5.6 | 12.23 | 17.6 | 1.48 | -10.26 | 12.35 | 11.36 | 10.79 | 18.18 | 23.42 | 17.1 | 15.51 | 19.58 | 1.44 | 2.13 | 14.00 | 7.78 | 46.76 | -16.83 | 99.05 | 5.63 | 1.03 | -83.42 | 0.00 | 0 | 11.64 | 7.28 |
| 2015 (1) | 7.05 | 17.11 | 26.78 | 0 | 10.40 | 0 | 1.65 | -12.91 | 11.09 | 0 | 9.13 | 0 | 20.00 | 0 | 12.97 | 0 | 1.41 | 4.44 | 12.99 | -2.48 | 56.22 | 2.97 | 93.77 | 6.3 | 6.23 | -46.62 | 0.00 | 0 | 10.85 | -7.5 |
