- 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) | 0.99 | -5.71 | 3.13 | 50.08 | -0.67 | 8.68 | 21.32 | -8.77 | 33.58 | 25.56 | -1.43 | 16.23 | 20.08 | 2.19 | 12.37 | 4.27 | -1.39 | 1.91 | 3.23 | -5.83 | 6.25 | 0.16 | -5.88 | -5.88 | 29.94 | -0.8 | 15.69 | 41.29 | 64.63 | -4.35 | 82.50 | -9.25 | 13.06 | 17.50 | 92.5 | -35.25 | 25.87 | 21.11 | -0.54 |
| 23Q4 (19) | 1.05 | 3.96 | 0.0 | 50.42 | 1.69 | 3.28 | 23.37 | 2.86 | -1.85 | 25.93 | 6.31 | 13.43 | 19.65 | 10.33 | 16.48 | 4.33 | -0.46 | -2.04 | 3.43 | 2.08 | 1.48 | 0.17 | -10.53 | -15.0 | 30.18 | 6.53 | 17.16 | 25.08 | -9.95 | -25.18 | 90.91 | -2.44 | -12.96 | 9.09 | 33.33 | 304.55 | 21.36 | -14.22 | 5.48 |
| 23Q3 (18) | 1.01 | -25.19 | 16.09 | 49.58 | 1.08 | 11.97 | 22.72 | -11.28 | 16.75 | 24.39 | -18.1 | 26.7 | 17.81 | -22.19 | 19.13 | 4.35 | -29.04 | 14.47 | 3.36 | -24.49 | 17.48 | 0.19 | 0.0 | 0.0 | 28.33 | -15.91 | 24.09 | 27.85 | -17.68 | -2.42 | 93.18 | 8.71 | -9.41 | 6.82 | -52.27 | 0 | 24.90 | 32.03 | 15.55 |
| 23Q2 (17) | 1.35 | 40.63 | 20.54 | 49.05 | 6.45 | 10.5 | 25.61 | 60.46 | 12.32 | 29.78 | 35.43 | 26.89 | 22.89 | 28.09 | 26.81 | 6.13 | 46.3 | 20.43 | 4.45 | 46.38 | 25.35 | 0.19 | 11.76 | -5.0 | 33.69 | 30.18 | 24.59 | 33.83 | -21.64 | -10.83 | 85.71 | 17.46 | -12.38 | 14.29 | -47.14 | 557.14 | 18.86 | -27.49 | 7.83 |
| 23Q1 (16) | 0.96 | -8.57 | 0.0 | 46.08 | -5.61 | 6.57 | 15.96 | -32.97 | 1.4 | 21.99 | -3.81 | 5.77 | 17.87 | 5.93 | 11.83 | 4.19 | -5.2 | -0.71 | 3.04 | -10.06 | 2.36 | 0.17 | -15.0 | -10.53 | 25.88 | 0.47 | 5.16 | 43.17 | 28.79 | -14.94 | 72.97 | -30.13 | -2.7 | 27.03 | 708.11 | 8.11 | 26.01 | 28.44 | 8.87 |
| 22Q4 (15) | 1.05 | 20.69 | -5.41 | 48.82 | 10.25 | 4.74 | 23.81 | 22.35 | 7.3 | 22.86 | 18.75 | -3.95 | 16.87 | 12.84 | -2.09 | 4.42 | 16.32 | -6.55 | 3.38 | 18.18 | -4.52 | 0.20 | 5.26 | -4.76 | 25.76 | 12.83 | -4.45 | 33.52 | 17.45 | -5.28 | 104.44 | 1.54 | 11.41 | -4.44 | 0 | -171.11 | 20.25 | -6.03 | 4.49 |
| 22Q3 (14) | 0.87 | -22.32 | -26.89 | 44.28 | -0.25 | -11.67 | 19.46 | -14.65 | -20.15 | 19.25 | -17.98 | -23.73 | 14.95 | -17.17 | -21.36 | 3.80 | -25.34 | -23.23 | 2.86 | -19.44 | -25.91 | 0.19 | -5.0 | -5.0 | 22.83 | -15.57 | -22.06 | 28.54 | -24.78 | -11.86 | 102.86 | 5.14 | 7.14 | 0.00 | -100.0 | -100.0 | 21.55 | 23.21 | -2.66 |
| 22Q2 (13) | 1.12 | 16.67 | 27.27 | 44.39 | 2.66 | -7.17 | 22.80 | 44.85 | 14.63 | 23.47 | 12.89 | 23.79 | 18.05 | 12.95 | 23.88 | 5.09 | 20.62 | 43.79 | 3.55 | 19.53 | 24.13 | 0.20 | 5.26 | 0.0 | 27.04 | 9.87 | 16.75 | 37.94 | -25.24 | 51.88 | 97.83 | 30.43 | -7.32 | 2.17 | -91.3 | 139.13 | 17.49 | -26.79 | -33.12 |
| 22Q1 (12) | 0.96 | -13.51 | 10.34 | 43.24 | -7.23 | -17.72 | 15.74 | -29.07 | -18.66 | 20.79 | -12.65 | 4.37 | 15.98 | -7.25 | 5.41 | 4.22 | -10.78 | 16.25 | 2.97 | -16.1 | 2.06 | 0.19 | -9.52 | 0.0 | 24.61 | -8.72 | 1.23 | 50.75 | 43.4 | 116.88 | 75.00 | -20.0 | -22.86 | 25.00 | 300.0 | 800.0 | 23.89 | 23.27 | -13.85 |
| 21Q4 (11) | 1.11 | -6.72 | 9.9 | 46.61 | -7.02 | -8.91 | 22.19 | -8.95 | -1.51 | 23.80 | -5.71 | 2.19 | 17.23 | -9.36 | 2.19 | 4.73 | -4.44 | 7.26 | 3.54 | -8.29 | 1.14 | 0.21 | 5.0 | 0.0 | 26.96 | -7.95 | -1.5 | 35.39 | 9.3 | 30.45 | 93.75 | -2.34 | -4.07 | 6.25 | 56.25 | 175.0 | 19.38 | -12.47 | -15.74 |
| 21Q3 (10) | 1.19 | 35.23 | 25.26 | 50.13 | 4.83 | -3.48 | 24.37 | 22.52 | 11.74 | 25.24 | 33.12 | 14.36 | 19.01 | 30.47 | 16.84 | 4.95 | 39.83 | 13.79 | 3.86 | 34.97 | 17.33 | 0.20 | 0.0 | 0.0 | 29.29 | 26.47 | 9.99 | 32.38 | 29.62 | 28.65 | 96.00 | -9.05 | -1.6 | 4.00 | 172.0 | 0 | 22.14 | -15.33 | -8.7 |
| 21Q2 (9) | 0.88 | 1.15 | -9.28 | 47.82 | -9.0 | -11.56 | 19.89 | 2.79 | -16.71 | 18.96 | -4.82 | -16.22 | 14.57 | -3.89 | -13.01 | 3.54 | -2.48 | -18.24 | 2.86 | -1.72 | -13.6 | 0.20 | 5.26 | 0.0 | 23.16 | -4.73 | -14.76 | 24.98 | 6.75 | -38.64 | 105.56 | 8.57 | 0.76 | -5.56 | -300.0 | -16.67 | 26.15 | -5.7 | 0 |
| 21Q1 (8) | 0.87 | -13.86 | 40.32 | 52.55 | 2.7 | -1.3 | 19.35 | -14.11 | 12.89 | 19.92 | -14.47 | 13.89 | 15.16 | -10.08 | 20.22 | 3.63 | -17.69 | 37.5 | 2.91 | -16.86 | 36.62 | 0.19 | -9.52 | 11.76 | 24.31 | -11.18 | 7.66 | 23.40 | -13.75 | 4.74 | 97.22 | -0.52 | -2.78 | 2.78 | 22.22 | -25.0 | 27.73 | 20.57 | -3.21 |
| 20Q4 (7) | 1.01 | 6.32 | 24.69 | 51.17 | -1.48 | -1.01 | 22.53 | 3.3 | -0.84 | 23.29 | 5.53 | 14.0 | 16.86 | 3.63 | 19.24 | 4.41 | 1.38 | 23.53 | 3.50 | 6.38 | 25.45 | 0.21 | 5.0 | 5.0 | 27.37 | 2.78 | 10.68 | 27.13 | 7.79 | 0.74 | 97.73 | 0.17 | -11.81 | 2.27 | 0 | 121.02 | 23.00 | -5.15 | -8.33 |
| 20Q3 (6) | 0.95 | -2.06 | 6.74 | 51.94 | -3.94 | -0.36 | 21.81 | -8.67 | 6.03 | 22.07 | -2.47 | 15.91 | 16.27 | -2.87 | 21.33 | 4.35 | 0.46 | 8.75 | 3.29 | -0.6 | 12.29 | 0.20 | 0.0 | -9.09 | 26.63 | -1.99 | 15.93 | 25.17 | -38.17 | -14.65 | 97.56 | -6.87 | -9.25 | 0.00 | 100.0 | 100.0 | 24.25 | 0 | 4.17 |
| 20Q2 (5) | 0.97 | 56.45 | 3.19 | 54.07 | 1.56 | 5.73 | 23.88 | 39.32 | 13.39 | 22.63 | 29.39 | 6.59 | 16.75 | 32.83 | 6.55 | 4.33 | 64.02 | 6.13 | 3.31 | 55.4 | 9.24 | 0.20 | 17.65 | 5.26 | 27.17 | 20.33 | 6.97 | 40.71 | 82.23 | -8.58 | 104.76 | 4.76 | 4.76 | -4.76 | -228.57 | 0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (4) | 0.62 | -23.46 | 0.0 | 53.24 | 3.0 | 0.0 | 17.14 | -24.56 | 0.0 | 17.49 | -14.39 | 0.0 | 12.61 | -10.82 | 0.0 | 2.64 | -26.05 | 0.0 | 2.13 | -23.66 | 0.0 | 0.17 | -15.0 | 0.0 | 22.58 | -8.69 | 0.0 | 22.34 | -17.04 | 0.0 | 100.00 | -9.76 | 0.0 | 3.70 | 134.26 | 0.0 | 28.65 | 14.19 | 0.0 |
| 19Q4 (3) | 0.81 | -8.99 | 0.0 | 51.69 | -0.84 | 0.0 | 22.72 | 10.45 | 0.0 | 20.43 | 7.3 | 0.0 | 14.14 | 5.44 | 0.0 | 3.57 | -10.75 | 0.0 | 2.79 | -4.78 | 0.0 | 0.20 | -9.09 | 0.0 | 24.73 | 7.66 | 0.0 | 26.93 | -8.68 | 0.0 | 110.81 | 3.08 | 0.0 | -10.81 | -44.14 | 0.0 | 25.09 | 7.77 | 0.0 |
| 19Q3 (2) | 0.89 | -5.32 | 0.0 | 52.13 | 1.94 | 0.0 | 20.57 | -2.33 | 0.0 | 19.04 | -10.32 | 0.0 | 13.41 | -14.69 | 0.0 | 4.00 | -1.96 | 0.0 | 2.93 | -3.3 | 0.0 | 0.22 | 15.79 | 0.0 | 22.97 | -9.57 | 0.0 | 29.49 | -33.77 | 0.0 | 107.50 | 7.5 | 0.0 | -7.50 | 0 | 0.0 | 23.28 | -7.95 | 0.0 |
| 19Q2 (1) | 0.94 | 0.0 | 0.0 | 51.14 | 0.0 | 0.0 | 21.06 | 0.0 | 0.0 | 21.23 | 0.0 | 0.0 | 15.72 | 0.0 | 0.0 | 4.08 | 0.0 | 0.0 | 3.03 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 25.40 | 0.0 | 0.0 | 44.53 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 25.29 | 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) | 4.37 | 9.25 | 48.80 | 7.92 | 22.01 | 7.31 | 3.82 | 13.11 | 25.61 | 18.35 | 19.61 | 18.92 | 17.83 | 7.54 | 13.87 | 12.13 | 0.70 | -6.67 | 29.60 | 17.93 | 25.08 | -25.18 | 85.64 | -10.03 | 13.81 | 154.76 | 0.31 | 214.69 | 22.72 | 9.44 |
| 2022 (9) | 4.00 | -0.74 | 45.22 | -8.09 | 20.51 | -4.65 | 3.38 | -6.66 | 21.64 | -1.9 | 16.49 | -0.3 | 16.58 | -2.47 | 12.37 | -4.7 | 0.75 | -3.85 | 25.10 | -2.98 | 33.52 | -5.28 | 95.18 | -1.95 | 5.42 | 131.78 | 0.10 | 0.0 | 20.76 | -12.44 |
| 2021 (8) | 4.03 | 13.84 | 49.20 | -6.41 | 21.51 | -0.05 | 3.62 | -16.69 | 22.06 | 2.41 | 16.54 | 5.02 | 17.00 | 11.92 | 12.98 | 8.26 | 0.78 | 2.63 | 25.87 | -0.84 | 35.39 | 30.45 | 97.08 | -2.92 | 2.34 | 0 | 0.10 | -7.88 | 23.71 | -5.88 |
| 2020 (7) | 3.54 | 1.14 | 52.57 | 0.81 | 21.52 | 4.57 | 4.35 | 7.43 | 21.54 | 6.37 | 15.75 | 8.7 | 15.19 | 0.53 | 11.99 | 0.67 | 0.76 | -7.32 | 26.09 | 6.88 | 27.13 | 0.74 | 100.00 | -1.9 | 0.00 | 0 | 0.11 | -50.79 | 25.19 | -0.51 |
| 2019 (6) | 3.50 | 4.79 | 52.15 | 3.25 | 20.58 | 9.29 | 4.05 | 55.4 | 20.25 | 1.71 | 14.49 | 5.15 | 15.11 | 5.22 | 11.91 | 4.84 | 0.82 | 0.0 | 24.41 | 7.72 | 26.93 | -3.72 | 101.94 | 7.56 | -1.94 | 0 | 0.21 | 0.86 | 25.32 | 8.81 |
| 2018 (5) | 3.34 | -4.3 | 50.51 | -1.14 | 18.83 | -3.73 | 2.60 | 2.25 | 19.91 | 1.17 | 13.78 | -6.95 | 14.36 | -4.96 | 11.36 | -7.11 | 0.82 | 0.0 | 22.66 | 1.21 | 27.97 | 9.56 | 94.77 | -4.58 | 5.23 | 668.63 | 0.21 | 0 | 23.27 | 0.26 |
| 2017 (4) | 3.49 | 17.11 | 51.09 | -6.03 | 19.56 | 3.06 | 2.55 | -16.33 | 19.68 | -1.35 | 14.81 | 2.92 | 15.11 | 18.14 | 12.23 | 15.05 | 0.82 | 12.33 | 22.39 | -3.24 | 25.53 | 12.22 | 99.32 | 4.09 | 0.68 | -85.15 | 0.00 | 0 | 23.21 | -2.27 |
| 2016 (3) | 2.98 | -3.56 | 54.37 | -0.31 | 18.98 | -2.01 | 3.04 | 7.56 | 19.95 | -1.58 | 14.39 | -6.56 | 12.79 | -1.69 | 10.63 | -3.28 | 0.73 | 2.82 | 23.14 | -1.24 | 22.75 | 16.61 | 95.42 | 0.07 | 4.58 | -1.53 | 0.00 | 0 | 23.75 | -1.45 |
| 2015 (2) | 3.09 | -5.5 | 54.54 | 4.48 | 19.37 | -2.12 | 2.83 | 6.05 | 20.27 | -5.15 | 15.40 | -2.53 | 13.01 | -4.41 | 10.99 | -5.26 | 0.71 | -2.74 | 23.43 | -3.7 | 19.51 | 5.35 | 95.35 | 2.92 | 4.65 | -36.74 | 0.00 | 0 | 24.10 | 3.83 |
| 2014 (1) | 3.27 | -11.62 | 52.20 | 0 | 19.79 | 0 | 2.67 | 8.71 | 21.37 | 0 | 15.80 | 0 | 13.61 | 0 | 11.60 | 0 | 0.73 | 0.0 | 24.33 | -1.54 | 18.52 | 12.11 | 92.65 | -0.68 | 7.35 | 9.48 | 0.00 | 0 | 23.21 | -3.93 |
