- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q1 (20) | 2.61 | 41.08 | 112.2 | 25.56 | -5.82 | -7.49 | 11.58 | -26.94 | -19.25 | 24.82 | 100.81 | 115.26 | 19.07 | 103.74 | 86.05 | 5.95 | 34.01 | 81.96 | 3.11 | 37.61 | 76.7 | 0.16 | -30.43 | 0.0 | 27.85 | 90.88 | 85.42 | 91.75 | -13.34 | -8.34 | 46.41 | -63.78 | -62.87 | 53.04 | 288.58 | 312.15 | 6.61 | 40.64 | 4.59 |
| 23Q4 (19) | 1.85 | -41.82 | 86.87 | 27.14 | -6.57 | -4.03 | 15.85 | -2.46 | 16.89 | 12.36 | -49.05 | 56.06 | 9.36 | -50.81 | 37.24 | 4.44 | -46.51 | 63.84 | 2.26 | -42.49 | 53.74 | 0.23 | 15.0 | 15.0 | 14.59 | -45.5 | 37.51 | 105.87 | -4.59 | 1.83 | 128.12 | 90.84 | -24.63 | -28.12 | -185.58 | 60.76 | 4.70 | -24.44 | -36.23 |
| 23Q3 (18) | 3.18 | 2.25 | -24.29 | 29.05 | 5.71 | 5.56 | 16.25 | -3.33 | 1.69 | 24.26 | 4.98 | -13.23 | 19.03 | 9.05 | -29.91 | 8.30 | -0.24 | -33.39 | 3.93 | -2.48 | -34.93 | 0.20 | -9.09 | -9.09 | 26.77 | 5.15 | -11.94 | 110.96 | -13.31 | 10.07 | 67.14 | -7.9 | 17.1 | 32.86 | 21.26 | -23.77 | 6.22 | 45.67 | 17.58 |
| 23Q2 (17) | 3.11 | 152.85 | 9.12 | 27.48 | -0.54 | 18.6 | 16.81 | 17.22 | 23.06 | 23.11 | 100.43 | 24.18 | 17.45 | 70.24 | 5.63 | 8.32 | 154.43 | -8.27 | 4.03 | 128.98 | -7.36 | 0.22 | 37.5 | -12.0 | 25.46 | 69.51 | 20.95 | 127.99 | 27.86 | 4.84 | 72.90 | -41.68 | -1.03 | 27.10 | 208.41 | 2.87 | 4.27 | -32.44 | 8.93 |
| 23Q1 (16) | 1.23 | 24.24 | -24.54 | 27.63 | -2.3 | 35.57 | 14.34 | 5.75 | 62.59 | 11.53 | 45.58 | -17.11 | 10.25 | 50.29 | -17.6 | 3.27 | 20.66 | -39.44 | 1.76 | 19.73 | -33.33 | 0.16 | -20.0 | -20.0 | 15.02 | 41.56 | -10.01 | 100.10 | -3.72 | -10.7 | 125.00 | -26.47 | 97.92 | -25.00 | 65.12 | -167.86 | 6.32 | -14.25 | 4.98 |
| 22Q4 (15) | 0.99 | -76.43 | -38.89 | 28.28 | 2.76 | 37.95 | 13.56 | -15.14 | 15.7 | 7.92 | -71.67 | -23.85 | 6.82 | -74.88 | -26.35 | 2.71 | -78.25 | -53.03 | 1.47 | -75.66 | -45.76 | 0.20 | -9.09 | -28.57 | 10.61 | -65.1 | -13.39 | 103.97 | 3.13 | -11.94 | 170.00 | 196.51 | 50.93 | -71.67 | -266.24 | -467.36 | 7.37 | 39.32 | 89.46 |
| 22Q3 (14) | 4.20 | 47.37 | 206.57 | 27.52 | 18.77 | 25.49 | 15.98 | 16.98 | 46.74 | 27.96 | 50.24 | 163.52 | 27.15 | 64.35 | 192.88 | 12.46 | 37.38 | 140.54 | 6.04 | 38.85 | 152.72 | 0.22 | -12.0 | -12.0 | 30.40 | 44.42 | 137.13 | 100.81 | -17.42 | -17.67 | 57.33 | -22.16 | -44.03 | 43.11 | 63.63 | 1867.56 | 5.29 | 34.95 | 18.34 |
| 22Q2 (13) | 2.85 | 74.85 | 996.15 | 23.17 | 13.69 | 3.81 | 13.66 | 54.88 | 47.36 | 18.61 | 33.79 | 286.9 | 16.52 | 32.8 | 644.14 | 9.07 | 67.96 | 835.05 | 4.35 | 64.77 | 720.75 | 0.25 | 25.0 | 25.0 | 21.05 | 26.12 | 178.81 | 122.08 | 8.91 | -4.09 | 73.65 | 16.62 | -61.86 | 26.35 | -28.49 | 128.3 | 3.92 | -34.88 | -30.86 |
| 22Q1 (12) | 1.63 | 0.62 | 117.33 | 20.38 | -0.59 | -7.78 | 8.82 | -24.74 | 7.17 | 13.91 | 33.75 | 64.23 | 12.44 | 34.34 | 68.56 | 5.40 | -6.41 | 98.53 | 2.64 | -2.58 | 95.56 | 0.20 | -28.57 | 17.65 | 16.69 | 36.24 | 41.92 | 112.09 | -5.06 | 3.39 | 63.16 | -43.93 | -33.9 | 36.84 | 391.67 | 1557.89 | 6.02 | 54.76 | -9.2 |
| 21Q4 (11) | 1.62 | 18.25 | 51.4 | 20.50 | -6.52 | -11.14 | 11.72 | 7.62 | -9.36 | 10.40 | -1.98 | 19.82 | 9.26 | -0.11 | 22.0 | 5.77 | 11.39 | 43.53 | 2.71 | 13.39 | 42.63 | 0.28 | 12.0 | 16.67 | 12.25 | -4.45 | 13.32 | 118.07 | -3.57 | -3.23 | 112.63 | 9.95 | -24.51 | -12.63 | -417.89 | 74.33 | 3.89 | -12.98 | -15.62 |
| 21Q3 (10) | 1.37 | 426.92 | 55.68 | 21.93 | -1.75 | -6.08 | 10.89 | 17.48 | -14.39 | 10.61 | 120.58 | 23.37 | 9.27 | 317.57 | 18.85 | 5.18 | 434.02 | 48.85 | 2.39 | 350.94 | 43.11 | 0.25 | 25.0 | 19.05 | 12.82 | 69.8 | 23.75 | 122.44 | -3.8 | 5.46 | 102.44 | -46.95 | -30.34 | -2.44 | 97.38 | 94.82 | 4.47 | -21.16 | -7.45 |
| 21Q2 (9) | 0.26 | -65.33 | -58.73 | 22.32 | 1.0 | -8.34 | 9.27 | 12.64 | -20.7 | 4.81 | -43.21 | -47.08 | 2.22 | -69.92 | -67.54 | 0.97 | -64.34 | -60.41 | 0.53 | -60.74 | -57.94 | 0.20 | 17.65 | 11.11 | 7.55 | -35.8 | -33.3 | 127.28 | 17.41 | 11.57 | 193.10 | 102.09 | 48.28 | -93.10 | -4289.66 | -233.62 | 5.67 | -14.48 | 0 |
| 21Q1 (8) | 0.75 | -29.91 | -3.85 | 22.10 | -4.2 | -3.45 | 8.23 | -36.35 | 15.27 | 8.47 | -2.42 | -10.37 | 7.38 | -2.77 | -13.79 | 2.72 | -32.34 | -8.42 | 1.35 | -28.95 | -14.01 | 0.17 | -29.17 | -5.56 | 11.76 | 8.79 | 0.94 | 108.41 | -11.15 | 17.39 | 95.56 | -35.96 | 26.47 | 2.22 | 104.52 | -90.91 | 6.63 | 43.82 | -18.85 |
| 20Q4 (7) | 1.07 | 21.59 | 57.35 | 23.07 | -1.2 | 4.44 | 12.93 | 1.65 | 33.02 | 8.68 | 0.93 | 57.82 | 7.59 | -2.69 | 65.0 | 4.02 | 15.52 | 50.56 | 1.90 | 13.77 | 36.69 | 0.24 | 14.29 | -17.24 | 10.81 | 4.34 | 57.81 | 122.01 | 5.09 | 21.79 | 149.21 | 1.46 | -14.46 | -49.21 | -4.56 | 35.88 | 4.61 | -4.55 | -15.57 |
| 20Q3 (6) | 0.88 | 39.68 | -26.05 | 23.35 | -4.11 | 10.14 | 12.72 | 8.81 | 47.05 | 8.60 | -5.39 | -7.43 | 7.80 | 14.04 | -3.82 | 3.48 | 42.04 | -26.74 | 1.67 | 32.54 | -30.13 | 0.21 | 16.67 | -27.59 | 10.36 | -8.48 | -3.09 | 116.10 | 1.77 | 14.52 | 147.06 | 12.92 | 58.2 | -47.06 | -68.63 | -768.24 | 4.83 | 0 | -5.29 |
| 20Q2 (5) | 0.63 | -19.23 | -50.0 | 24.35 | 6.38 | 17.92 | 11.69 | 63.73 | 38.84 | 9.09 | -3.81 | -15.05 | 6.84 | -20.09 | -18.67 | 2.45 | -17.51 | -50.2 | 1.26 | -19.75 | -51.16 | 0.18 | 0.0 | -40.0 | 11.32 | -2.83 | -4.95 | 114.08 | 23.53 | 6.82 | 130.23 | 72.37 | 65.75 | -27.91 | -214.16 | -230.23 | 0.00 | -100.0 | -100.0 |
| 20Q1 (4) | 0.78 | 14.71 | 0.0 | 22.89 | 3.62 | 0.0 | 7.14 | -26.54 | 0.0 | 9.45 | 71.82 | 0.0 | 8.56 | 86.09 | 0.0 | 2.97 | 11.24 | 0.0 | 1.57 | 12.95 | 0.0 | 0.18 | -37.93 | 0.0 | 11.65 | 70.07 | 0.0 | 92.35 | -7.82 | 0.0 | 75.56 | -56.68 | 0.0 | 24.44 | 131.85 | 0.0 | 8.17 | 49.63 | 0.0 |
| 19Q4 (3) | 0.68 | -42.86 | 0.0 | 22.09 | 4.2 | 0.0 | 9.72 | 12.37 | 0.0 | 5.50 | -40.8 | 0.0 | 4.60 | -43.28 | 0.0 | 2.67 | -43.79 | 0.0 | 1.39 | -41.84 | 0.0 | 0.29 | 0.0 | 0.0 | 6.85 | -35.92 | 0.0 | 100.18 | -1.18 | 0.0 | 174.42 | 87.63 | 0.0 | -76.74 | -1189.77 | 0.0 | 5.46 | 7.06 | 0.0 |
| 19Q3 (2) | 1.19 | -5.56 | 0.0 | 21.20 | 2.66 | 0.0 | 8.65 | 2.73 | 0.0 | 9.29 | -13.18 | 0.0 | 8.11 | -3.57 | 0.0 | 4.75 | -3.46 | 0.0 | 2.39 | -7.36 | 0.0 | 0.29 | -3.33 | 0.0 | 10.69 | -10.24 | 0.0 | 101.38 | -5.07 | 0.0 | 92.96 | 18.31 | 0.0 | 7.04 | -67.14 | 0.0 | 5.10 | -11.3 | 0.0 |
| 19Q2 (1) | 1.26 | 0.0 | 0.0 | 20.65 | 0.0 | 0.0 | 8.42 | 0.0 | 0.0 | 10.70 | 0.0 | 0.0 | 8.41 | 0.0 | 0.0 | 4.92 | 0.0 | 0.0 | 2.58 | 0.0 | 0.0 | 0.30 | 0.0 | 0.0 | 11.91 | 0.0 | 0.0 | 106.80 | 0.0 | 0.0 | 78.57 | 0.0 | 0.0 | 21.43 | 0.0 | 0.0 | 5.75 | 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) | 9.35 | -3.31 | 27.81 | 11.64 | 15.93 | 20.86 | 1.18 | -7.11 | 18.10 | 3.9 | 14.14 | -11.79 | 23.67 | -19.33 | 12.10 | -16.61 | 0.82 | -5.75 | 20.66 | 3.15 | 105.87 | 1.83 | 88.04 | 16.32 | 11.96 | -50.8 | 3.72 | -21.3 | 5.26 | -5.4 |
| 2022 (9) | 9.67 | 141.75 | 24.91 | 15.43 | 13.18 | 27.84 | 1.27 | -5.46 | 17.42 | 95.95 | 16.03 | 116.91 | 29.34 | 105.75 | 14.51 | 112.45 | 0.87 | -1.14 | 20.03 | 77.1 | 103.97 | -11.94 | 75.69 | -34.72 | 24.31 | 0 | 4.73 | -20.84 | 5.56 | 12.55 |
| 2021 (8) | 4.00 | 19.4 | 21.58 | -7.7 | 10.31 | -9.64 | 1.35 | 38.93 | 8.89 | -0.22 | 7.39 | -3.9 | 14.26 | 12.64 | 6.83 | 9.81 | 0.88 | 12.82 | 11.31 | 3.1 | 118.07 | -3.23 | 115.94 | -9.58 | -15.94 | 0 | 5.97 | -12.57 | 4.94 | -13.79 |
| 2020 (7) | 3.35 | -18.89 | 23.38 | 8.49 | 11.41 | 30.1 | 0.97 | 74.95 | 8.91 | 1.02 | 7.69 | 3.22 | 12.66 | -21.71 | 6.22 | -25.15 | 0.78 | -28.44 | 10.97 | 7.34 | 122.01 | 21.85 | 128.22 | 29.23 | -28.22 | 0 | 6.83 | -20.17 | 5.73 | -3.54 |
| 2019 (6) | 4.13 | -33.92 | 21.55 | -2.97 | 8.77 | -13.25 | 0.55 | 23.59 | 8.82 | -26.25 | 7.45 | -30.5 | 16.17 | -37.45 | 8.31 | -38.26 | 1.09 | -12.1 | 10.22 | -19.21 | 100.13 | 0.57 | 99.22 | 17.11 | 0.39 | -97.48 | 8.55 | -8.89 | 5.94 | 5.51 |
| 2018 (5) | 6.25 | 5.75 | 22.21 | -2.76 | 10.11 | -14.47 | 0.45 | -14.62 | 11.96 | 5.56 | 10.72 | -1.02 | 25.85 | 9.35 | 13.46 | 1.28 | 1.24 | 2.48 | 12.65 | 5.07 | 99.56 | 10.96 | 84.72 | -18.8 | 15.55 | 0 | 9.39 | 0 | 5.63 | -3.1 |
| 2017 (4) | 5.91 | -16.88 | 22.84 | -0.48 | 11.82 | -11.19 | 0.53 | -4.84 | 11.33 | -19.59 | 10.83 | -16.11 | 23.64 | -16.41 | 13.29 | -26.98 | 1.21 | -14.18 | 12.04 | -18.81 | 89.73 | 26.95 | 104.33 | 10.55 | -4.33 | 0 | 0.00 | 0 | 5.81 | 15.51 |
| 2016 (3) | 7.11 | 5.33 | 22.95 | -5.44 | 13.31 | -7.44 | 0.55 | -17.63 | 14.09 | -9.85 | 12.91 | -7.79 | 28.28 | -2.55 | 18.20 | -13.87 | 1.41 | -6.62 | 14.83 | -9.79 | 70.68 | 73.83 | 94.38 | 2.39 | 5.62 | -28.16 | 0.00 | 0 | 5.03 | 6.79 |
| 2015 (2) | 6.75 | 68.33 | 24.27 | 9.77 | 14.38 | 54.46 | 0.67 | -34.3 | 15.63 | 29.07 | 14.00 | 36.85 | 29.02 | 51.54 | 21.13 | 51.14 | 1.51 | 10.22 | 16.44 | 23.52 | 40.66 | 21.08 | 92.17 | 19.54 | 7.83 | -66.39 | 0.00 | 0 | 4.71 | -18.23 |
| 2014 (1) | 4.01 | 32.34 | 22.11 | 0 | 9.31 | 0 | 1.02 | -13.09 | 12.11 | 0 | 10.23 | 0 | 19.15 | 0 | 13.98 | 0 | 1.37 | -12.74 | 13.31 | 19.8 | 33.58 | -17.49 | 77.11 | -13.58 | 23.29 | 125.17 | 0.00 | 0 | 5.76 | 7.66 |
