- 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) | 4.83 | 12.85 | -20.69 | 39.69 | -1.17 | -3.27 | 21.64 | 10.24 | 2.66 | 21.82 | -1.31 | -22.27 | 18.58 | 0.87 | -20.67 | 5.17 | 4.66 | -25.72 | 3.86 | 13.53 | -23.41 | 0.21 | 16.67 | -4.55 | 23.40 | -2.66 | -21.11 | 23.06 | -49.17 | -17.88 | 99.20 | 11.72 | 32.12 | 0.80 | -92.82 | -96.77 | 14.18 | -5.15 | -4.06 |
| 24Q2 (19) | 4.28 | -2.95 | -12.65 | 40.16 | -1.57 | 0.53 | 19.63 | 1.71 | -5.44 | 22.11 | -8.67 | -16.79 | 18.42 | -8.77 | -10.45 | 4.94 | 0.0 | -21.46 | 3.40 | -7.1 | -19.24 | 0.18 | 0.0 | -10.0 | 24.04 | -7.5 | -14.84 | 45.37 | -1.26 | -7.75 | 88.79 | 11.35 | 13.66 | 11.21 | -44.66 | -48.77 | 14.95 | -8.67 | 0.47 |
| 24Q1 (18) | 4.41 | 30.47 | 48.48 | 40.80 | -3.23 | 6.11 | 19.30 | -8.23 | 14.4 | 24.21 | 39.94 | 48.53 | 20.19 | 25.48 | 48.57 | 4.94 | 37.22 | 38.76 | 3.66 | 28.42 | 40.77 | 0.18 | 0.0 | -5.26 | 25.99 | 34.66 | 42.18 | 45.95 | 84.54 | -7.86 | 79.74 | -34.32 | -22.91 | 20.26 | 194.63 | 687.42 | 16.37 | 8.2 | 5.48 |
| 23Q4 (17) | 3.38 | -44.5 | 90.96 | 42.16 | 2.75 | 19.87 | 21.03 | -0.24 | 28.86 | 17.30 | -38.37 | 92.01 | 16.09 | -31.3 | 98.89 | 3.60 | -48.28 | 85.57 | 2.85 | -43.45 | 87.5 | 0.18 | -18.18 | -5.26 | 19.30 | -34.93 | 73.09 | 24.90 | -11.32 | -4.82 | 121.41 | 61.7 | -32.99 | -21.41 | -185.9 | 73.63 | 15.13 | 2.37 | 12.07 |
| 23Q3 (16) | 6.09 | 24.29 | 17.12 | 41.03 | 2.7 | -7.17 | 21.08 | 1.54 | 0.96 | 28.07 | 5.65 | -9.83 | 23.42 | 13.86 | -7.72 | 6.96 | 10.65 | 5.3 | 5.04 | 19.71 | 13.77 | 0.22 | 10.0 | 29.41 | 29.66 | 5.07 | -10.47 | 28.08 | -42.9 | -2.36 | 75.08 | -3.89 | 11.91 | 24.92 | 13.89 | -24.28 | 14.78 | -0.67 | -16.07 |
| 23Q2 (15) | 4.90 | 64.98 | -34.4 | 39.95 | 3.9 | -17.87 | 20.76 | 23.06 | -29.15 | 26.57 | 63.01 | -22.38 | 20.57 | 51.36 | -26.59 | 6.29 | 76.69 | -33.09 | 4.21 | 61.92 | -29.6 | 0.20 | 5.26 | -4.76 | 28.23 | 54.43 | -21.06 | 49.18 | -1.38 | -31.02 | 78.12 | -24.48 | -8.66 | 21.88 | 734.54 | 52.42 | 14.88 | -4.12 | -3.38 |
| 23Q1 (14) | 2.97 | 67.8 | -62.97 | 38.45 | 9.33 | -21.27 | 16.87 | 3.37 | -43.88 | 16.30 | 80.91 | -51.6 | 13.59 | 67.99 | -51.64 | 3.56 | 83.51 | -64.19 | 2.60 | 71.05 | -61.6 | 0.19 | 0.0 | -20.83 | 18.28 | 63.95 | -47.83 | 49.87 | 90.63 | 10.33 | 103.45 | -42.9 | 15.77 | -3.45 | 95.75 | -132.05 | 15.52 | 14.96 | 3.12 |
| 22Q4 (13) | 1.77 | -65.96 | -73.93 | 35.17 | -20.43 | -31.3 | 16.32 | -21.84 | -48.44 | 9.01 | -71.06 | -71.38 | 8.09 | -68.12 | -68.72 | 1.94 | -70.65 | -79.03 | 1.52 | -65.69 | -75.2 | 0.19 | 11.76 | -20.83 | 11.15 | -66.34 | -66.11 | 26.16 | -9.04 | -46.64 | 181.17 | 170.05 | 80.19 | -81.17 | -346.61 | -14814.77 | 13.50 | -23.34 | -10.3 |
| 22Q3 (12) | 5.20 | -30.39 | -34.09 | 44.20 | -9.13 | -14.97 | 20.88 | -28.74 | -36.96 | 31.13 | -9.06 | -11.64 | 25.38 | -9.42 | -10.51 | 6.61 | -29.68 | -42.12 | 4.43 | -25.92 | -41.17 | 0.17 | -19.05 | -37.04 | 33.13 | -7.35 | -9.36 | 28.76 | -59.66 | -46.64 | 67.09 | -21.56 | -28.65 | 32.91 | 129.27 | 450.84 | 17.61 | 14.35 | 9.65 |
| 22Q2 (11) | 7.47 | -6.86 | 22.26 | 48.64 | -0.41 | 2.03 | 29.30 | -2.53 | -1.11 | 34.23 | 1.63 | 21.64 | 28.02 | -0.28 | 21.51 | 9.40 | -5.43 | 2.51 | 5.98 | -11.67 | -2.92 | 0.21 | -12.5 | -22.22 | 35.76 | 2.05 | 21.06 | 71.30 | 57.74 | 42.8 | 85.52 | -4.29 | -18.72 | 14.36 | 33.42 | 367.18 | 15.40 | 2.33 | 9.53 |
| 22Q1 (10) | 8.02 | 18.11 | 72.1 | 48.84 | -4.59 | 16.95 | 30.06 | -5.02 | 26.68 | 33.68 | 6.99 | 43.01 | 28.10 | 8.66 | 44.7 | 9.94 | 7.46 | 27.6 | 6.77 | 10.44 | 29.2 | 0.24 | 0.0 | -11.11 | 35.04 | 6.5 | 39.88 | 45.20 | -7.81 | -6.44 | 89.36 | -11.13 | -11.33 | 10.76 | 2077.19 | 1482.69 | 15.05 | 0.0 | 4.95 |
| 21Q4 (9) | 6.79 | -13.94 | 110.22 | 51.19 | -1.52 | 34.22 | 31.65 | -4.44 | 62.98 | 31.48 | -10.64 | 74.21 | 25.86 | -8.82 | 75.32 | 9.25 | -19.0 | 58.93 | 6.13 | -18.59 | 57.18 | 0.24 | -11.11 | -7.69 | 32.90 | -9.99 | 67.17 | 49.03 | -9.04 | -1.76 | 100.54 | 6.93 | -6.43 | -0.54 | -109.11 | 92.7 | 15.05 | -6.29 | 4.81 |
| 21Q3 (8) | 7.89 | 29.13 | 122.25 | 51.98 | 9.04 | 36.75 | 33.12 | 11.78 | 71.07 | 35.23 | 25.2 | 90.74 | 28.36 | 22.98 | 82.61 | 11.42 | 24.54 | 71.99 | 7.53 | 22.24 | 76.35 | 0.27 | 0.0 | 0.0 | 36.55 | 23.73 | 82.29 | 53.90 | 7.95 | 9.13 | 94.02 | -10.64 | -10.21 | 5.98 | 211.21 | 226.81 | 16.06 | 14.22 | 22.97 |
| 21Q2 (7) | 6.11 | 31.12 | 123.81 | 47.67 | 14.15 | 26.78 | 29.63 | 24.86 | 69.12 | 28.14 | 19.49 | 71.27 | 23.06 | 18.74 | 65.9 | 9.17 | 17.72 | 88.68 | 6.16 | 17.56 | 91.3 | 0.27 | 0.0 | 17.39 | 29.54 | 17.92 | 63.29 | 49.93 | 3.35 | -20.61 | 105.22 | 4.41 | -1.42 | -5.37 | -590.45 | 20.25 | 14.06 | -1.95 | 0 |
| 21Q1 (6) | 4.66 | 44.27 | 70.7 | 41.76 | 9.49 | 12.26 | 23.73 | 22.19 | 43.12 | 23.55 | 30.33 | 32.53 | 19.42 | 31.66 | 29.9 | 7.79 | 33.85 | 61.28 | 5.24 | 34.36 | 53.67 | 0.27 | 3.85 | 17.39 | 25.05 | 27.29 | 28.2 | 48.31 | -3.21 | 18.38 | 100.78 | -6.22 | 7.9 | -0.78 | 89.57 | -111.8 | 14.34 | -0.14 | -8.19 |
| 20Q4 (5) | 3.23 | -9.01 | 47.49 | 38.14 | 0.34 | 8.72 | 19.42 | 0.31 | 45.8 | 18.07 | -2.17 | 23.18 | 14.75 | -5.02 | 28.48 | 5.82 | -12.35 | 51.56 | 3.90 | -8.67 | 45.52 | 0.26 | -3.7 | 13.04 | 19.68 | -1.85 | 12.52 | 49.91 | 1.05 | 11.81 | 107.46 | 2.62 | 18.51 | -7.46 | -58.29 | -180.01 | 14.36 | 9.95 | -8.07 |
| 20Q3 (4) | 3.55 | 30.04 | 0.0 | 38.01 | 1.09 | 0.0 | 19.36 | 10.5 | 0.0 | 18.47 | 12.42 | 0.0 | 15.53 | 11.73 | 0.0 | 6.64 | 36.63 | 0.0 | 4.27 | 32.61 | 0.0 | 0.27 | 17.39 | 0.0 | 20.05 | 10.83 | 0.0 | 49.39 | -21.47 | 0.0 | 104.71 | -1.9 | 0.0 | -4.71 | 30.06 | 0.0 | 13.06 | 0 | 0.0 |
| 20Q2 (3) | 2.73 | 0.0 | 0.0 | 37.60 | 1.08 | 0.0 | 17.52 | 5.67 | 0.0 | 16.43 | -7.54 | 0.0 | 13.90 | -7.02 | 0.0 | 4.86 | 0.62 | 0.0 | 3.22 | -5.57 | 0.0 | 0.23 | 0.0 | 0.0 | 18.09 | -7.42 | 0.0 | 62.89 | 54.1 | 0.0 | 106.74 | 14.28 | 0.0 | -6.74 | -202.13 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 2.73 | 24.66 | 0.0 | 37.20 | 6.04 | 0.0 | 16.58 | 24.47 | 0.0 | 17.77 | 21.13 | 0.0 | 14.95 | 30.23 | 0.0 | 4.83 | 25.78 | 0.0 | 3.41 | 27.24 | 0.0 | 0.23 | 0.0 | 0.0 | 19.54 | 11.72 | 0.0 | 40.81 | -8.58 | 0.0 | 93.40 | 3.0 | 0.0 | 6.60 | -29.23 | 0.0 | 15.62 | 0.0 | 0.0 |
| 19Q4 (1) | 2.19 | 0.0 | 0.0 | 35.08 | 0.0 | 0.0 | 13.32 | 0.0 | 0.0 | 14.67 | 0.0 | 0.0 | 11.48 | 0.0 | 0.0 | 3.84 | 0.0 | 0.0 | 2.68 | 0.0 | 0.0 | 0.23 | 0.0 | 0.0 | 17.49 | 0.0 | 0.0 | 44.64 | 0.0 | 0.0 | 90.68 | 0.0 | 0.0 | 9.32 | 0.0 | 0.0 | 15.62 | 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) | 17.33 | -22.84 | 40.42 | -10.22 | 20.04 | -20.16 | 1.20 | 9.9 | 22.57 | -20.19 | 18.78 | -19.85 | 19.00 | -32.22 | 15.15 | -25.92 | 0.81 | -6.9 | 24.36 | -18.75 | 24.90 | -4.82 | 88.80 | 0.01 | 11.20 | -0.08 | 3.99 | -10.9 | 15.05 | -2.15 |
| 2022 (9) | 22.46 | -11.75 | 45.02 | -6.85 | 25.10 | -15.49 | 1.09 | 22.47 | 28.28 | -5.1 | 23.43 | -3.7 | 28.03 | -26.31 | 20.45 | -19.84 | 0.87 | -17.14 | 29.98 | -3.97 | 26.16 | -46.64 | 88.79 | -10.93 | 11.21 | 3394.96 | 4.48 | 6.9 | 15.38 | 3.15 |
| 2021 (8) | 25.45 | 107.92 | 48.33 | 27.96 | 29.70 | 61.94 | 0.89 | -15.26 | 29.80 | 67.98 | 24.33 | 64.28 | 38.04 | 75.62 | 25.51 | 72.71 | 1.05 | 6.06 | 31.22 | 61.09 | 49.03 | -1.76 | 99.68 | -3.62 | 0.32 | 0 | 4.19 | -22.72 | 14.91 | 4.34 |
| 2020 (7) | 12.24 | 40.05 | 37.77 | 4.74 | 18.34 | 22.43 | 1.05 | -15.87 | 17.74 | 11.08 | 14.81 | 12.54 | 21.66 | 28.55 | 14.77 | 23.6 | 0.99 | 11.24 | 19.38 | 7.91 | 49.91 | 11.81 | 103.42 | 10.24 | -3.42 | 0 | 5.42 | -7.56 | 14.29 | -6.78 |
| 2019 (6) | 8.74 | 58.05 | 36.06 | 13.86 | 14.98 | 32.33 | 1.25 | 107.01 | 15.97 | 29.84 | 13.16 | 24.03 | 16.85 | 38.57 | 11.95 | 33.52 | 0.89 | 7.23 | 17.96 | 31.48 | 44.64 | 8.64 | 93.82 | 1.79 | 6.18 | -22.88 | 5.86 | -17.14 | 15.33 | 9.89 |
| 2018 (5) | 5.53 | 49.46 | 31.67 | 4.56 | 11.32 | 17.06 | 0.60 | -8.43 | 12.30 | 35.76 | 10.61 | 31.64 | 12.16 | 50.31 | 8.95 | 52.73 | 0.83 | 15.28 | 13.66 | 26.01 | 41.09 | 14.94 | 92.17 | -13.64 | 8.01 | 0 | 7.08 | 0 | 13.95 | 4.18 |
| 2017 (4) | 3.70 | -20.77 | 30.29 | -9.31 | 9.67 | -17.56 | 0.66 | -13.32 | 9.06 | -27.75 | 8.06 | -25.99 | 8.09 | -19.9 | 5.86 | -19.51 | 0.72 | 9.09 | 10.84 | -23.82 | 35.75 | -19.88 | 106.72 | 14.15 | -6.72 | 0 | 0.00 | 0 | 13.39 | -7.72 |
| 2016 (3) | 4.67 | -7.71 | 33.40 | -3.77 | 11.73 | -7.13 | 0.76 | -19.84 | 12.54 | -14.87 | 10.89 | -12.18 | 10.10 | -5.7 | 7.28 | -9.79 | 0.66 | 3.13 | 14.23 | -13.91 | 44.62 | 24.88 | 93.49 | 9.04 | 6.51 | -54.36 | 0.00 | 0 | 14.51 | -3.52 |
| 2015 (2) | 5.06 | -28.63 | 34.71 | -2.99 | 12.63 | -15.86 | 0.95 | 1.23 | 14.73 | -17.34 | 12.40 | -17.88 | 10.71 | -27.29 | 8.07 | -27.56 | 0.64 | -12.33 | 16.53 | -13.36 | 35.73 | 10.41 | 85.74 | 1.67 | 14.26 | -9.01 | 0.00 | 0 | 15.04 | 4.88 |
| 2014 (1) | 7.09 | 12.01 | 35.78 | 0 | 15.01 | 0 | 0.94 | -1.14 | 17.82 | 0 | 15.10 | 0 | 14.73 | 0 | 11.14 | 0 | 0.73 | 1.39 | 19.08 | 3.98 | 32.36 | -4.43 | 84.33 | -5.41 | 15.67 | 44.43 | 0.00 | 0 | 14.34 | 5.05 |
