- 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) | 1.75 | -0.57 | -16.67 | 48.41 | 1.74 | -12.63 | 26.12 | 26.73 | -7.7 | 27.41 | -12.68 | -37.65 | 21.75 | -18.33 | -38.49 | 3.73 | -8.13 | -29.89 | 2.36 | -6.72 | -32.38 | 0.10 | 11.11 | 0.0 | 32.41 | -12.85 | -35.37 | 62.31 | -3.65 | 18.08 | 95.32 | 45.15 | 47.98 | 4.72 | -86.26 | -86.74 | 18.95 | -15.89 | -18.21 |
| 24Q2 (19) | 1.76 | 51.72 | -16.98 | 47.58 | 0.4 | -10.36 | 20.61 | 39.63 | -26.55 | 31.39 | 3.43 | -22.68 | 26.63 | 12.74 | -20.91 | 4.06 | 49.26 | -30.0 | 2.53 | 40.56 | -30.3 | 0.09 | 28.57 | -18.18 | 37.19 | -2.34 | -19.55 | 64.67 | -3.65 | 8.96 | 65.67 | 34.96 | -4.96 | 34.37 | -33.05 | 11.35 | 22.53 | -21.39 | 4.11 |
| 24Q1 (18) | 1.16 | 6.42 | -24.68 | 47.39 | -15.78 | -3.58 | 14.76 | -43.06 | -41.12 | 30.35 | 9.02 | -3.1 | 23.62 | 10.07 | -3.32 | 2.72 | 5.43 | -34.62 | 1.80 | 1.12 | -34.07 | 0.07 | -12.5 | -36.36 | 38.08 | 7.06 | 4.21 | 67.12 | 33.52 | -1.19 | 48.66 | -47.74 | -39.21 | 51.34 | 644.48 | 157.17 | 28.66 | 39.33 | 32.07 |
| 23Q4 (17) | 1.09 | -48.1 | -32.3 | 56.27 | 1.55 | -2.71 | 25.92 | -8.41 | -14.14 | 27.84 | -36.67 | 9.01 | 21.46 | -39.31 | 1.23 | 2.58 | -51.5 | -39.01 | 1.78 | -49.0 | -38.19 | 0.08 | -20.0 | -38.46 | 35.57 | -29.07 | 20.13 | 50.27 | -4.74 | 6.66 | 93.10 | 44.55 | -21.23 | 6.90 | -80.64 | 137.9 | 20.57 | -11.22 | -11.64 |
| 23Q3 (16) | 2.10 | -0.94 | -43.55 | 55.41 | 4.39 | -8.44 | 28.30 | 0.86 | -28.86 | 43.96 | 8.28 | -28.78 | 35.36 | 5.02 | -32.85 | 5.32 | -8.28 | -51.5 | 3.49 | -3.86 | -49.86 | 0.10 | -9.09 | -23.08 | 50.15 | 8.48 | -23.42 | 52.77 | -11.09 | -3.16 | 64.41 | -6.78 | -0.09 | 35.62 | 15.39 | 0.2 | 23.17 | 7.07 | 27.59 |
| 23Q2 (15) | 2.12 | 37.66 | 1.92 | 53.08 | 8.0 | 12.6 | 28.06 | 11.93 | 6.13 | 40.60 | 29.63 | -2.45 | 33.67 | 37.82 | 4.92 | 5.80 | 39.42 | -12.91 | 3.63 | 32.97 | -9.02 | 0.11 | 0.0 | -8.33 | 46.23 | 26.52 | 2.05 | 59.35 | -12.63 | -7.86 | 69.09 | -13.67 | 8.74 | 30.87 | 54.63 | -15.33 | 21.64 | -0.28 | 21.92 |
| 23Q1 (14) | 1.54 | -4.35 | 20.31 | 49.15 | -15.02 | 2.03 | 25.07 | -16.96 | 4.81 | 31.32 | 22.63 | 3.74 | 24.43 | 15.24 | -0.89 | 4.16 | -1.65 | 0.73 | 2.73 | -5.21 | 8.33 | 0.11 | -15.38 | 10.0 | 36.54 | 23.4 | 6.25 | 67.93 | 44.13 | -6.15 | 80.04 | -32.28 | 0.97 | 19.96 | 209.73 | -3.97 | 21.70 | -6.79 | 2.65 |
| 22Q4 (13) | 1.61 | -56.72 | 34.17 | 57.84 | -4.43 | 37.16 | 30.19 | -24.11 | 68.75 | 25.54 | -58.62 | -3.29 | 21.20 | -59.74 | 3.82 | 4.23 | -61.44 | 4.44 | 2.88 | -58.62 | 11.63 | 0.13 | 0.0 | 8.33 | 29.61 | -54.79 | -3.99 | 47.13 | -13.51 | -21.06 | 118.19 | 83.34 | 74.41 | -18.19 | -151.18 | -156.35 | 23.28 | 28.19 | 23.7 |
| 22Q3 (12) | 3.72 | 78.85 | 244.44 | 60.52 | 28.38 | 42.74 | 39.78 | 50.45 | 232.05 | 61.72 | 48.29 | 67.31 | 52.66 | 64.1 | 87.47 | 10.97 | 64.71 | 187.17 | 6.96 | 74.44 | 184.08 | 0.13 | 8.33 | 44.44 | 65.49 | 44.57 | 51.0 | 54.49 | -15.4 | -6.42 | 64.47 | 1.46 | 98.42 | 35.55 | -2.49 | -47.34 | 18.16 | 2.31 | -23.89 |
| 22Q2 (11) | 2.08 | 62.5 | 69.11 | 47.14 | -2.14 | 15.2 | 26.44 | 10.54 | 236.82 | 41.62 | 37.86 | -5.39 | 32.09 | 30.18 | -8.03 | 6.66 | 61.26 | 46.37 | 3.99 | 58.33 | 39.51 | 0.12 | 20.0 | 50.0 | 45.30 | 31.72 | -11.11 | 64.41 | -11.01 | 10.25 | 63.54 | -19.84 | 256.06 | 36.46 | 75.38 | -55.62 | 17.75 | -16.04 | -30.39 |
| 22Q1 (10) | 1.28 | 6.67 | 24.27 | 48.17 | 14.23 | -3.41 | 23.92 | 33.71 | 9.62 | 30.19 | 14.31 | -1.37 | 24.65 | 20.71 | -7.47 | 4.13 | 1.98 | 6.72 | 2.52 | -2.33 | -0.4 | 0.10 | -16.67 | 11.11 | 34.39 | 11.51 | -7.43 | 72.38 | 21.24 | 13.97 | 79.27 | 16.97 | 11.2 | 20.79 | -35.61 | -27.61 | 21.14 | 12.33 | -5.03 |
| 21Q4 (9) | 1.20 | 11.11 | 34.83 | 42.17 | -0.54 | -7.74 | 17.89 | 49.33 | 26.34 | 26.41 | -28.41 | -11.23 | 20.42 | -27.31 | -16.07 | 4.05 | 6.02 | 16.05 | 2.58 | 5.31 | 8.86 | 0.12 | 33.33 | 20.0 | 30.84 | -28.89 | -16.42 | 59.70 | 2.52 | 25.6 | 67.77 | 108.57 | 42.39 | 32.29 | -52.17 | -38.39 | 18.82 | -21.12 | -4.81 |
| 21Q3 (8) | 1.08 | -12.2 | 47.95 | 42.40 | 3.62 | -12.0 | 11.98 | 52.61 | -35.1 | 36.89 | -16.14 | 68.6 | 28.09 | -19.49 | 50.46 | 3.82 | -16.04 | 28.19 | 2.45 | -14.34 | 23.74 | 0.09 | 12.5 | -10.0 | 43.37 | -14.89 | 48.99 | 58.23 | -0.33 | 11.0 | 32.49 | 82.07 | -61.5 | 67.51 | -17.83 | 332.59 | 23.86 | -6.43 | 12.23 |
| 21Q2 (7) | 1.23 | 19.42 | 43.02 | 40.92 | -17.95 | -3.47 | 7.85 | -64.02 | -17.37 | 43.99 | 43.71 | 47.82 | 34.89 | 30.97 | 31.02 | 4.55 | 17.57 | 29.26 | 2.86 | 13.04 | 18.67 | 0.08 | -11.11 | -11.11 | 50.96 | 37.17 | 32.6 | 58.42 | -8.01 | 3.36 | 17.85 | -74.97 | -44.04 | 82.15 | 186.07 | 20.62 | 25.50 | 14.56 | 0 |
| 21Q1 (6) | 1.03 | 15.73 | 49.28 | 49.87 | 9.1 | 8.01 | 21.82 | 54.1 | 832.48 | 30.61 | 2.89 | 0.66 | 26.64 | 9.49 | -4.24 | 3.87 | 10.89 | 38.71 | 2.53 | 6.75 | 25.25 | 0.09 | -10.0 | 28.57 | 37.15 | 0.68 | -10.65 | 63.51 | 33.62 | 52.52 | 71.28 | 49.77 | 831.9 | 28.72 | -45.2 | -68.86 | 22.26 | 12.59 | 0 |
| 20Q4 (5) | 0.89 | 21.92 | 64.81 | 45.71 | -5.13 | -4.75 | 14.16 | -23.29 | 79.24 | 29.75 | 35.97 | 53.51 | 24.33 | 30.32 | 34.49 | 3.49 | 17.11 | 63.85 | 2.37 | 19.7 | 53.9 | 0.10 | 0.0 | 25.0 | 36.90 | 26.76 | 25.94 | 47.53 | -9.4 | 15.06 | 47.59 | -43.61 | 16.79 | 52.41 | 235.82 | -11.55 | 19.77 | -7.01 | -22.01 |
| 20Q3 (4) | 0.73 | -15.12 | 0.0 | 48.18 | 13.66 | 0.0 | 18.46 | 94.32 | 0.0 | 21.88 | -26.48 | 0.0 | 18.67 | -29.89 | 0.0 | 2.98 | -15.34 | 0.0 | 1.98 | -17.84 | 0.0 | 0.10 | 11.11 | 0.0 | 29.11 | -24.25 | 0.0 | 52.46 | -7.18 | 0.0 | 84.39 | 164.63 | 0.0 | 15.61 | -77.09 | 0.0 | 21.26 | 0 | 0.0 |
| 20Q2 (3) | 0.86 | 24.64 | 0.0 | 42.39 | -8.19 | 0.0 | 9.50 | 305.98 | 0.0 | 29.76 | -2.14 | 0.0 | 26.63 | -4.28 | 0.0 | 3.52 | 26.16 | 0.0 | 2.41 | 19.31 | 0.0 | 0.09 | 28.57 | 0.0 | 38.43 | -7.58 | 0.0 | 56.52 | 35.73 | 0.0 | 31.89 | 316.94 | 0.0 | 68.11 | -26.16 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 0.69 | 27.78 | 0.0 | 46.17 | -3.79 | 0.0 | 2.34 | -70.38 | 0.0 | 30.41 | 56.91 | 0.0 | 27.82 | 53.79 | 0.0 | 2.79 | 30.99 | 0.0 | 2.02 | 31.17 | 0.0 | 0.07 | -12.5 | 0.0 | 41.58 | 41.91 | 0.0 | 41.64 | 0.8 | 0.0 | 7.65 | -81.23 | 0.0 | 92.24 | 55.68 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 0.54 | 0.0 | 0.0 | 47.99 | 0.0 | 0.0 | 7.90 | 0.0 | 0.0 | 19.38 | 0.0 | 0.0 | 18.09 | 0.0 | 0.0 | 2.13 | 0.0 | 0.0 | 1.54 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | 29.30 | 0.0 | 0.0 | 41.31 | 0.0 | 0.0 | 40.75 | 0.0 | 0.0 | 59.25 | 0.0 | 0.0 | 25.35 | 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 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 (10) | 6.85 | -21.17 | 53.31 | -1.26 | 26.86 | -12.22 | 4.41 | 63.2 | 36.23 | -9.88 | 29.01 | -12.25 | 16.77 | -32.54 | 11.59 | -29.71 | 0.39 | -20.41 | 42.35 | -4.01 | 50.27 | 6.66 | 74.16 | -2.58 | 25.84 | 8.26 | 10.22 | -13.73 | 21.81 | 8.45 |
| 2022 (9) | 8.69 | 91.83 | 53.99 | 23.55 | 30.60 | 98.83 | 2.70 | -9.31 | 40.20 | 20.61 | 33.06 | 24.66 | 24.86 | 59.15 | 16.49 | 60.41 | 0.49 | 28.95 | 44.12 | 12.52 | 47.13 | -21.06 | 76.12 | 64.9 | 23.87 | -55.66 | 11.84 | -6.42 | 20.11 | -9.0 |
| 2021 (8) | 4.53 | 42.45 | 43.70 | -4.4 | 15.39 | 28.04 | 2.98 | -33.89 | 33.33 | 20.76 | 26.52 | 10.92 | 15.62 | 28.67 | 10.28 | 19.67 | 0.38 | 8.57 | 39.21 | 9.19 | 59.70 | 25.6 | 46.16 | 5.96 | 53.84 | -4.6 | 12.66 | -24.36 | 22.10 | -6.12 |
| 2020 (7) | 3.18 | 16.91 | 45.71 | 2.95 | 12.02 | 191.75 | 4.51 | -21.84 | 27.60 | 0.88 | 23.91 | 2.49 | 12.14 | 10.46 | 8.59 | 4.0 | 0.35 | 0.0 | 35.91 | -3.39 | 47.53 | 15.06 | 43.56 | 189.45 | 56.44 | -33.58 | 16.73 | -14.11 | 23.54 | -14.71 |
| 2019 (6) | 2.72 | 17.24 | 44.40 | 6.37 | 4.12 | 27.95 | 5.77 | 19.89 | 27.36 | 19.27 | 23.33 | 23.11 | 10.99 | 13.42 | 8.26 | 10.72 | 0.35 | -10.26 | 37.17 | 20.25 | 41.31 | 36.02 | 15.05 | 7.32 | 84.98 | -1.16 | 19.48 | -15.66 | 27.60 | 5.91 |
| 2018 (5) | 2.32 | 25.41 | 41.74 | 0.97 | 3.22 | -55.59 | 4.81 | -3.7 | 22.94 | 4.46 | 18.95 | 38.32 | 9.69 | -10.28 | 7.46 | -12.44 | 0.39 | -11.36 | 30.91 | 3.72 | 30.37 | -4.41 | 14.02 | -57.52 | 85.98 | 28.35 | 23.10 | 0 | 26.06 | 17.6 |
| 2017 (4) | 1.85 | 9.47 | 41.34 | 13.07 | 7.25 | 1586.05 | 5.00 | -21.59 | 21.96 | 27.67 | 13.70 | -3.72 | 10.80 | 40.81 | 8.52 | 36.76 | 0.44 | 4.76 | 29.80 | 11.32 | 31.77 | 36.06 | 33.01 | 1203.77 | 66.99 | -31.27 | 0.00 | 0 | 22.16 | -11.36 |
| 2016 (3) | 1.69 | 259.57 | 36.56 | 17.25 | 0.43 | 0 | 6.38 | -32.23 | 17.20 | -16.67 | 14.23 | 233.26 | 7.67 | -16.17 | 6.23 | -9.84 | 0.42 | 13.51 | 26.77 | -20.85 | 23.35 | -9.29 | 2.53 | 0 | 97.47 | -16.23 | 0.00 | 0 | 25.00 | 5.04 |
| 2015 (2) | 0.47 | 4600.0 | 31.18 | 38.03 | -3.38 | 0 | 9.41 | -16.93 | 20.64 | 77.93 | 4.27 | 967.5 | 9.15 | 22.65 | 6.91 | 31.87 | 0.37 | 8.82 | 33.82 | 23.97 | 25.74 | -45.14 | -16.35 | 0 | 116.35 | -38.34 | 0.00 | 0 | 23.80 | -20.43 |
| 2014 (1) | 0.01 | -66.67 | 22.59 | 0 | -10.29 | 0 | 11.33 | 34.08 | 11.60 | 0 | 0.40 | 0 | 7.46 | 0 | 5.24 | 0 | 0.34 | -22.73 | 27.28 | 154.95 | 46.92 | -17.51 | -88.70 | 0 | 188.70 | 0 | 0.00 | 0 | 29.91 | 19.83 |
