- 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) | 1.76 | -8.81 | -0.56 | 34.15 | -2.79 | -2.93 | 17.23 | -4.96 | 6.82 | 21.75 | -1.58 | -5.48 | 17.57 | -2.39 | -8.87 | 2.65 | -13.96 | -6.03 | 2.05 | -8.89 | 1.99 | 0.11 | -8.33 | 10.0 | 30.23 | -1.08 | -9.92 | 33.55 | -0.09 | -13.4 | 79.46 | -3.63 | 13.04 | 20.54 | 11.48 | -30.86 | 21.82 | -5.75 | -8.43 |
| 24Q2 (19) | 1.93 | -11.06 | 4.32 | 35.13 | -0.82 | 2.24 | 18.13 | -4.63 | 4.62 | 22.10 | -12.75 | -0.63 | 18.00 | -16.59 | -4.66 | 3.08 | -10.2 | 7.69 | 2.25 | -8.91 | 9.76 | 0.12 | 9.09 | 9.09 | 30.56 | -11.8 | -4.89 | 33.58 | -30.43 | -35.01 | 82.46 | 9.34 | 6.89 | 18.42 | -25.09 | -15.9 | 23.15 | -5.86 | 9.15 |
| 24Q1 (18) | 2.17 | 114.85 | 59.56 | 35.42 | 0.31 | -5.85 | 19.01 | 1.39 | -3.01 | 25.33 | 61.75 | 26.65 | 21.58 | 108.1 | 47.0 | 3.43 | 119.87 | 68.14 | 2.47 | 105.83 | 62.5 | 0.11 | 0.0 | 10.0 | 34.65 | 35.4 | 12.03 | 48.27 | 30.85 | 27.73 | 75.41 | -36.73 | -22.79 | 24.59 | 228.22 | 957.38 | 24.59 | 9.14 | 11.87 |
| 23Q4 (17) | 1.01 | -42.94 | -42.61 | 35.31 | 0.37 | -6.29 | 18.75 | 16.24 | -21.61 | 15.66 | -31.94 | -24.82 | 10.37 | -46.21 | -33.23 | 1.56 | -44.68 | -43.07 | 1.20 | -40.3 | -39.39 | 0.11 | 10.0 | -8.33 | 25.59 | -23.75 | -14.36 | 36.89 | -4.78 | -15.72 | 119.18 | 69.54 | 3.68 | -19.18 | -164.57 | -28.25 | 22.53 | -5.46 | 15.24 |
| 23Q3 (16) | 1.77 | -4.32 | -51.37 | 35.18 | 2.39 | -12.79 | 16.13 | -6.92 | -38.44 | 23.01 | 3.46 | -37.13 | 19.28 | 2.12 | -38.48 | 2.82 | -1.4 | -52.68 | 2.01 | -1.95 | -51.8 | 0.10 | -9.09 | -23.08 | 33.56 | 4.45 | -25.27 | 38.74 | -25.02 | -5.99 | 70.30 | -8.87 | -1.89 | 29.70 | 35.6 | 4.77 | 23.83 | 12.35 | 29.23 |
| 23Q2 (15) | 1.85 | 36.03 | -18.5 | 34.36 | -8.67 | -9.34 | 17.33 | -11.58 | -27.61 | 22.24 | 11.2 | -14.46 | 18.88 | 28.61 | -11.86 | 2.86 | 40.2 | -24.74 | 2.05 | 34.87 | -24.63 | 0.11 | 10.0 | -15.38 | 32.13 | 3.88 | -6.16 | 51.67 | 36.73 | 5.82 | 77.14 | -21.02 | -16.15 | 21.90 | 841.9 | 173.81 | 21.21 | -3.5 | 6.05 |
| 23Q1 (14) | 1.36 | -22.73 | -37.04 | 37.62 | -0.16 | -2.51 | 19.60 | -18.06 | -19.9 | 20.00 | -3.98 | -20.38 | 14.68 | -5.47 | -27.72 | 2.04 | -25.55 | -43.96 | 1.52 | -23.23 | -44.53 | 0.10 | -16.67 | -23.08 | 30.93 | 3.51 | -5.82 | 37.79 | -13.66 | 9.66 | 97.67 | -15.03 | 0.2 | 2.33 | 115.55 | -7.75 | 21.98 | 12.43 | 11.23 |
| 22Q4 (13) | 1.76 | -51.65 | -23.81 | 37.68 | -6.59 | 8.0 | 23.92 | -8.7 | 10.13 | 20.83 | -43.09 | -18.89 | 15.53 | -50.45 | -27.29 | 2.74 | -54.03 | -33.33 | 1.98 | -52.52 | -36.54 | 0.12 | -7.69 | -14.29 | 29.88 | -33.47 | -7.92 | 43.77 | 6.21 | 27.02 | 114.95 | 60.44 | 36.64 | -14.95 | -152.74 | -199.16 | 19.55 | 6.02 | 3.99 |
| 22Q3 (12) | 3.64 | 60.35 | 73.33 | 40.34 | 6.44 | 15.59 | 26.20 | 9.44 | 30.28 | 36.60 | 40.77 | 46.46 | 31.34 | 46.31 | 48.39 | 5.96 | 56.84 | 58.93 | 4.17 | 53.31 | 41.84 | 0.13 | 0.0 | -7.14 | 44.91 | 31.16 | 41.63 | 41.21 | -15.61 | 31.91 | 71.65 | -22.12 | -11.03 | 28.35 | 254.38 | 45.62 | 18.44 | -7.8 | -6.54 |
| 22Q2 (11) | 2.27 | 5.09 | 170.24 | 37.90 | -1.79 | 15.55 | 23.94 | -2.17 | 55.35 | 26.00 | 3.5 | 82.71 | 21.42 | 5.47 | 92.63 | 3.80 | 4.4 | 153.33 | 2.72 | -0.73 | 124.79 | 0.13 | 0.0 | 18.18 | 34.24 | 4.26 | 52.99 | 48.83 | 41.7 | 83.3 | 92.00 | -5.62 | -14.94 | 8.00 | 217.33 | 198.0 | 20.00 | 1.21 | -15.58 |
| 22Q1 (10) | 2.16 | -6.49 | 232.31 | 38.59 | 10.6 | 27.19 | 24.47 | 12.66 | 82.75 | 25.12 | -2.18 | 131.73 | 20.31 | -4.92 | 131.58 | 3.64 | -11.44 | 208.47 | 2.74 | -12.18 | 182.47 | 0.13 | -7.14 | 18.18 | 32.84 | 1.2 | 76.75 | 34.46 | 0.0 | 36.75 | 97.48 | 15.87 | -19.85 | 2.52 | -83.28 | 110.36 | 19.76 | 5.11 | -14.72 |
| 21Q4 (9) | 2.31 | 10.0 | 124.27 | 34.89 | -0.03 | 2.14 | 21.72 | 8.01 | 19.67 | 25.68 | 2.76 | 45.99 | 21.36 | 1.14 | 51.38 | 4.11 | 9.6 | 122.16 | 3.12 | 6.12 | 101.29 | 0.14 | 0.0 | 27.27 | 32.45 | 2.33 | 28.21 | 34.46 | 10.31 | 58.22 | 84.13 | 4.47 | -18.72 | 15.08 | -22.55 | 529.76 | 18.80 | -4.71 | -22.51 |
| 21Q3 (8) | 2.10 | 150.0 | 223.08 | 34.90 | 6.4 | -4.96 | 20.11 | 30.5 | 11.1 | 24.99 | 75.61 | 91.06 | 21.12 | 89.93 | 133.11 | 3.75 | 150.0 | 212.5 | 2.94 | 142.98 | 191.09 | 0.14 | 27.27 | 27.27 | 31.71 | 41.69 | 52.31 | 31.24 | 17.27 | 70.06 | 80.53 | -25.55 | -42.07 | 19.47 | 338.5 | 149.89 | 19.73 | -16.72 | -19.37 |
| 21Q2 (7) | 0.84 | 29.23 | -56.92 | 32.80 | 8.11 | -16.35 | 15.41 | 15.09 | -30.62 | 14.23 | 31.27 | -49.72 | 11.12 | 26.8 | -54.33 | 1.50 | 27.12 | -59.35 | 1.21 | 24.74 | -60.71 | 0.11 | 0.0 | -15.38 | 22.38 | 20.45 | -36.13 | 26.64 | 5.71 | 26.14 | 108.16 | -11.07 | 37.28 | -8.16 | 66.44 | -138.48 | 23.69 | 2.24 | 0 |
| 21Q1 (6) | 0.65 | -36.89 | 62.5 | 30.34 | -11.18 | -17.46 | 13.39 | -26.23 | -29.86 | 10.84 | -38.37 | 11.07 | 8.77 | -37.85 | 62.11 | 1.18 | -36.22 | 57.33 | 0.97 | -37.42 | 46.97 | 0.11 | 0.0 | -8.33 | 18.58 | -26.59 | 10.79 | 25.20 | 15.7 | 36.36 | 121.62 | 17.5 | -38.19 | -24.32 | -593.24 | 74.86 | 23.17 | -4.49 | 5.99 |
| 20Q4 (5) | 1.03 | 58.46 | 202.94 | 34.16 | -6.97 | -0.99 | 18.15 | 0.28 | 20.68 | 17.59 | 34.48 | 108.17 | 14.11 | 55.74 | 144.12 | 1.85 | 54.17 | 180.3 | 1.55 | 53.47 | 167.24 | 0.11 | 0.0 | 10.0 | 25.31 | 21.57 | 48.45 | 21.78 | 18.56 | 51.25 | 103.51 | -25.55 | -43.07 | -3.51 | 91.01 | 95.46 | 24.26 | -0.86 | -3.62 |
| 20Q3 (4) | 0.65 | -66.67 | 0.0 | 36.72 | -6.35 | 0.0 | 18.10 | -18.51 | 0.0 | 13.08 | -53.78 | 0.0 | 9.06 | -62.79 | 0.0 | 1.20 | -67.48 | 0.0 | 1.01 | -67.21 | 0.0 | 0.11 | -15.38 | 0.0 | 20.82 | -40.58 | 0.0 | 18.37 | -13.02 | 0.0 | 139.02 | 76.45 | 0.0 | -39.02 | -283.97 | 0.0 | 24.47 | 0 | 0.0 |
| 20Q2 (3) | 1.95 | 387.5 | 0.0 | 39.21 | 6.66 | 0.0 | 22.21 | 16.34 | 0.0 | 28.30 | 189.96 | 0.0 | 24.35 | 350.09 | 0.0 | 3.69 | 392.0 | 0.0 | 3.08 | 366.67 | 0.0 | 0.13 | 8.33 | 0.0 | 35.04 | 108.94 | 0.0 | 21.12 | 14.29 | 0.0 | 78.79 | -59.96 | 0.0 | 21.21 | 121.92 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.40 | 17.65 | 0.0 | 36.76 | 6.55 | 0.0 | 19.09 | 26.93 | 0.0 | 9.76 | 15.5 | 0.0 | 5.41 | -6.4 | 0.0 | 0.75 | 13.64 | 0.0 | 0.66 | 13.79 | 0.0 | 0.12 | 20.0 | 0.0 | 16.77 | -1.64 | 0.0 | 18.48 | 28.33 | 0.0 | 196.77 | 8.23 | 0.0 | -96.77 | -25.24 | 0.0 | 21.86 | -13.15 | 0.0 |
| 19Q4 (1) | 0.34 | 0.0 | 0.0 | 34.50 | 0.0 | 0.0 | 15.04 | 0.0 | 0.0 | 8.45 | 0.0 | 0.0 | 5.78 | 0.0 | 0.0 | 0.66 | 0.0 | 0.0 | 0.58 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 17.05 | 0.0 | 0.0 | 14.40 | 0.0 | 0.0 | 181.82 | 0.0 | 0.0 | -77.27 | 0.0 | 0.0 | 25.17 | 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) | 5.98 | -39.17 | 35.58 | -7.97 | 17.94 | -27.25 | 9.31 | 23.03 | 20.20 | -25.95 | 15.79 | -29.13 | 9.42 | -41.34 | 6.99 | -40.31 | 0.43 | -17.31 | 30.58 | -14.15 | 36.89 | -15.72 | 88.77 | -1.67 | 11.23 | 17.73 | 2.17 | 664.14 | 22.37 | 15.19 |
| 2022 (9) | 9.83 | 66.05 | 38.66 | 15.4 | 24.66 | 35.49 | 7.57 | 13.69 | 27.28 | 36.67 | 22.28 | 35.03 | 16.06 | 52.66 | 11.71 | 41.25 | 0.52 | 4.0 | 35.62 | 30.81 | 43.77 | 27.02 | 90.28 | -0.85 | 9.54 | 6.6 | 0.28 | -17.64 | 19.42 | -7.57 |
| 2021 (8) | 5.92 | 48.0 | 33.50 | -8.87 | 18.20 | -6.43 | 6.65 | -3.91 | 19.96 | 14.38 | 16.50 | 22.22 | 10.52 | 42.74 | 8.29 | 32.22 | 0.50 | 8.7 | 27.23 | 9.75 | 34.46 | 58.22 | 91.05 | -18.55 | 8.95 | 0 | 0.34 | 4.72 | 21.01 | -10.79 |
| 2020 (7) | 4.00 | 21.21 | 36.76 | 14.27 | 19.45 | 23.96 | 6.93 | 1.52 | 17.45 | 10.93 | 13.50 | 10.75 | 7.37 | 19.84 | 6.27 | 16.33 | 0.46 | 4.55 | 24.81 | 8.06 | 21.78 | 51.25 | 111.79 | 11.79 | -11.35 | 0 | 0.33 | -27.48 | 23.55 | 1.95 |
| 2019 (6) | 3.30 | -49.7 | 32.17 | -14.96 | 15.69 | -32.31 | 6.82 | 62.59 | 15.73 | -31.16 | 12.19 | -32.35 | 6.15 | -47.12 | 5.39 | -46.53 | 0.44 | -21.43 | 22.96 | -16.2 | 14.40 | -2.11 | 100.00 | -1.64 | 0.00 | 0 | 0.45 | 5.97 | 23.10 | 15.85 |
| 2018 (5) | 6.56 | -6.29 | 37.83 | 11.69 | 23.18 | 24.49 | 4.20 | 26.75 | 22.85 | -6.7 | 18.02 | -15.83 | 11.63 | -29.86 | 10.08 | -25.17 | 0.56 | -11.11 | 27.40 | -3.72 | 14.71 | -9.98 | 101.67 | 33.72 | -1.39 | 0 | 0.43 | 0 | 19.94 | 1.48 |
| 2017 (4) | 7.00 | 71.57 | 33.87 | 35.26 | 18.62 | 42.25 | 3.31 | 9.98 | 24.49 | 87.52 | 21.41 | 104.49 | 16.58 | 59.42 | 13.47 | 84.77 | 0.63 | -8.7 | 28.46 | 67.02 | 16.34 | -45.28 | 76.03 | -24.21 | 23.97 | 0 | 0.00 | 0 | 19.65 | 28.1 |
| 2016 (3) | 4.08 | -24.86 | 25.04 | 6.42 | 13.09 | -4.17 | 3.01 | 6.55 | 13.06 | -11.28 | 10.47 | -14.25 | 10.40 | -34.67 | 7.29 | -36.44 | 0.69 | -25.81 | 17.04 | -7.99 | 29.86 | -47.92 | 100.32 | 8.11 | -0.32 | 0 | 0.00 | 0 | 15.34 | 18.73 |
| 2015 (2) | 5.43 | 15.78 | 23.53 | -30.34 | 13.66 | -27.8 | 2.82 | -43.77 | 14.72 | -28.12 | 12.21 | -31.6 | 15.92 | 1.66 | 11.47 | -13.11 | 0.93 | 25.68 | 18.52 | -28.47 | 57.33 | 308.92 | 92.80 | 0.38 | 7.20 | -4.6 | 0.00 | 0 | 12.92 | -34.05 |
| 2014 (1) | 4.69 | 3.53 | 33.78 | 0 | 18.92 | 0 | 5.02 | 5.66 | 20.48 | 0 | 17.85 | 0 | 15.66 | 0 | 13.20 | 0 | 0.74 | 2.78 | 25.89 | 2.01 | 14.02 | -42.75 | 92.45 | -2.54 | 7.55 | 59.12 | 0.00 | 0 | 19.59 | 9.81 |
