- 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) | 3.64 | 14.47 | 41.09 | 62.94 | 15.72 | -0.46 | 44.90 | 20.34 | 11.53 | 65.18 | 33.02 | 2.63 | 52.12 | 24.07 | 2.82 | 10.05 | 3.5 | 22.26 | 6.64 | 19.21 | 60.77 | 0.13 | 0.0 | 62.5 | 69.19 | 30.25 | -1.16 | 45.42 | -22.91 | -54.25 | 68.88 | -10.0 | 8.06 | 31.12 | 29.78 | -15.53 | 9.59 | 13.9 | -23.59 |
| 24Q2 (19) | 3.18 | 13.57 | 27.71 | 54.39 | -31.43 | -13.12 | 37.31 | -31.99 | -12.27 | 49.00 | -31.81 | 2.55 | 42.01 | -26.86 | -2.23 | 9.71 | 13.97 | 12.78 | 5.57 | 20.04 | 34.54 | 0.13 | 62.5 | 44.44 | 53.12 | -32.42 | -0.28 | 58.92 | -38.54 | -45.58 | 76.53 | 0.41 | -14.05 | 23.98 | 0.82 | 118.81 | 8.42 | -40.11 | -21.53 |
| 24Q1 (18) | 2.80 | 66.67 | 89.19 | 79.32 | 50.94 | 16.29 | 54.86 | 69.11 | 27.52 | 71.86 | 147.54 | 80.69 | 57.44 | 144.63 | 80.06 | 8.52 | 70.4 | 69.72 | 4.64 | 68.73 | 80.54 | 0.08 | -27.27 | 0.0 | 78.60 | 133.93 | 68.92 | 95.86 | 22.44 | -18.71 | 76.22 | -31.84 | -29.59 | 23.78 | 301.25 | 388.38 | 14.06 | 57.62 | -2.43 |
| 23Q4 (17) | 1.68 | -34.88 | -12.95 | 52.55 | -16.89 | -22.17 | 32.44 | -19.42 | -28.95 | 29.03 | -54.29 | -42.7 | 23.48 | -53.68 | -41.17 | 5.00 | -39.17 | -21.63 | 2.75 | -33.41 | -16.67 | 0.11 | 37.5 | 37.5 | 33.60 | -52.0 | -40.91 | 78.29 | -21.14 | -12.54 | 111.82 | 75.42 | 23.29 | -11.82 | -132.08 | -217.27 | 8.92 | -28.92 | -25.79 |
| 23Q3 (16) | 2.58 | 3.61 | 73.15 | 63.23 | 1.01 | -9.14 | 40.26 | -5.34 | -9.16 | 63.51 | 32.92 | 46.71 | 50.69 | 17.97 | 45.74 | 8.22 | -4.53 | 57.77 | 4.13 | -0.24 | 63.24 | 0.08 | -11.11 | 14.29 | 70.00 | 31.41 | 40.0 | 99.28 | -8.29 | -7.53 | 63.74 | -28.41 | -37.53 | 36.84 | 236.18 | 1905.26 | 12.55 | 16.96 | -9.39 |
| 23Q2 (15) | 2.49 | 68.24 | 45.61 | 62.60 | -8.22 | -19.11 | 42.53 | -1.14 | -17.16 | 47.78 | 20.14 | -1.93 | 42.97 | 34.7 | -6.67 | 8.61 | 71.51 | 36.02 | 4.14 | 61.09 | 41.78 | 0.09 | 12.5 | 50.0 | 53.27 | 14.49 | -5.93 | 108.26 | -8.19 | -8.4 | 89.04 | -17.74 | -15.41 | 10.96 | 232.88 | 308.22 | 10.73 | -25.54 | -27.55 |
| 23Q1 (14) | 1.48 | -23.32 | 80.49 | 68.21 | 1.02 | -4.99 | 43.02 | -5.78 | -6.03 | 39.77 | -21.5 | 63.53 | 31.90 | -20.07 | 62.84 | 5.02 | -21.32 | 71.33 | 2.57 | -22.12 | 79.72 | 0.08 | 0.0 | 14.29 | 46.53 | -18.17 | 49.04 | 117.92 | 31.72 | -9.13 | 108.25 | 19.35 | -42.13 | -8.25 | -181.84 | 90.52 | 14.41 | 19.88 | -1.3 |
| 22Q4 (13) | 1.93 | 29.53 | 6.63 | 67.52 | -2.97 | -3.35 | 45.66 | 3.02 | 2.4 | 50.66 | 17.02 | 6.45 | 39.91 | 14.75 | -2.63 | 6.38 | 22.46 | 1.43 | 3.30 | 30.43 | 8.55 | 0.08 | 14.29 | 14.29 | 56.86 | 13.72 | 4.31 | 89.52 | -16.62 | -14.42 | 90.70 | -11.12 | -3.2 | 10.08 | 593.8 | 59.8 | 12.02 | -13.21 | 17.15 |
| 22Q3 (12) | 1.49 | -12.87 | 19.2 | 69.59 | -10.08 | -16.48 | 44.32 | -13.67 | 6.62 | 43.29 | -11.15 | -5.99 | 34.78 | -24.46 | -3.98 | 5.21 | -17.69 | 13.76 | 2.53 | -13.36 | 21.05 | 0.07 | 16.67 | 16.67 | 50.00 | -11.71 | -11.65 | 107.36 | -9.16 | -10.2 | 102.04 | -3.06 | 12.78 | -2.04 | 61.22 | -121.43 | 13.85 | -6.48 | -26.41 |
| 22Q2 (11) | 1.71 | 108.54 | 36.8 | 77.39 | 7.8 | -3.67 | 51.34 | 12.15 | 16.21 | 48.72 | 100.33 | 24.6 | 46.04 | 135.02 | 27.85 | 6.33 | 116.04 | 32.15 | 2.92 | 104.2 | 34.56 | 0.06 | -14.29 | 0.0 | 56.63 | 81.39 | 13.87 | 118.19 | -8.92 | -13.31 | 105.26 | -43.72 | -7.73 | -5.26 | 93.95 | 58.48 | 14.81 | 1.44 | -20.59 |
| 22Q1 (10) | 0.82 | -54.7 | -63.56 | 71.79 | 2.76 | -12.39 | 45.78 | 2.67 | -11.77 | 24.32 | -48.9 | -60.6 | 19.59 | -52.21 | -60.76 | 2.93 | -53.42 | -66.09 | 1.43 | -52.96 | -64.78 | 0.07 | 0.0 | -12.5 | 31.22 | -42.73 | -55.51 | 129.77 | 24.06 | 7.63 | 187.04 | 99.63 | 123.53 | -87.04 | -1480.16 | -656.28 | 14.60 | 42.3 | -13.2 |
| 21Q4 (9) | 1.81 | 44.8 | -30.12 | 69.86 | -16.15 | -9.93 | 44.59 | 7.26 | -16.64 | 47.59 | 3.34 | -17.18 | 40.99 | 13.17 | -10.4 | 6.29 | 37.34 | -38.33 | 3.04 | 45.45 | -35.32 | 0.07 | 16.67 | -30.0 | 54.51 | -3.68 | -15.11 | 104.60 | -12.51 | -6.86 | 93.69 | 3.56 | 0.72 | 6.31 | -33.78 | -9.61 | 10.26 | -45.48 | 21.71 |
| 21Q3 (8) | 1.25 | 0.0 | -46.35 | 83.32 | 3.71 | 3.09 | 41.57 | -5.91 | -23.84 | 46.05 | 17.77 | -16.27 | 36.22 | 0.58 | -17.68 | 4.58 | -4.38 | -51.43 | 2.09 | -3.69 | -51.17 | 0.06 | 0.0 | -40.0 | 56.59 | 13.79 | -9.27 | 119.55 | -12.31 | -7.45 | 90.48 | -20.69 | -8.33 | 9.52 | 175.13 | 1366.67 | 18.82 | 0.91 | 32.91 |
| 21Q2 (7) | 1.25 | -44.44 | -42.13 | 80.34 | -1.95 | -2.89 | 44.18 | -14.86 | -14.63 | 39.10 | -36.66 | -19.35 | 36.01 | -27.86 | -14.26 | 4.79 | -44.56 | -46.42 | 2.17 | -46.55 | -43.34 | 0.06 | -25.0 | -33.33 | 49.73 | -29.13 | -11.01 | 136.34 | 13.08 | 15.28 | 114.08 | 36.34 | 6.8 | -12.68 | -181.02 | -85.92 | 18.65 | 10.88 | 0 |
| 21Q1 (6) | 2.25 | -13.13 | -8.91 | 81.94 | 5.65 | 5.47 | 51.89 | -2.99 | 3.22 | 61.73 | 7.43 | 18.73 | 49.92 | 9.11 | 20.38 | 8.64 | -15.29 | -15.71 | 4.06 | -13.62 | -11.93 | 0.08 | -20.0 | -27.27 | 70.17 | 9.28 | 20.13 | 120.57 | 7.35 | -23.39 | 83.67 | -10.05 | -13.15 | 15.65 | 124.26 | 413.2 | 16.82 | 99.53 | 30.09 |
| 20Q4 (5) | 2.59 | 11.16 | 4.02 | 77.56 | -4.03 | 27.67 | 53.49 | -2.0 | 36.56 | 57.46 | 4.47 | 38.39 | 45.75 | 3.98 | 39.02 | 10.20 | 8.17 | 6.81 | 4.70 | 9.81 | -5.62 | 0.10 | 0.0 | -33.33 | 64.21 | 2.95 | 37.7 | 112.31 | -13.05 | 17.14 | 93.02 | -5.75 | -1.64 | 6.98 | 974.42 | 28.68 | 8.43 | -40.47 | -8.57 |
| 20Q3 (4) | 2.33 | 7.87 | 0.0 | 80.82 | -2.31 | 0.0 | 54.58 | 5.47 | 0.0 | 55.00 | 13.45 | 0.0 | 44.00 | 4.76 | 0.0 | 9.43 | 5.48 | 0.0 | 4.28 | 11.75 | 0.0 | 0.10 | 11.11 | 0.0 | 62.37 | 11.61 | 0.0 | 129.17 | 9.22 | 0.0 | 98.70 | -7.6 | 0.0 | 0.65 | 109.52 | 0.0 | 14.16 | 0 | 0.0 |
| 20Q2 (3) | 2.16 | -12.55 | 0.0 | 82.73 | 6.49 | 0.0 | 51.75 | 2.94 | 0.0 | 48.48 | -6.75 | 0.0 | 42.00 | 1.28 | 0.0 | 8.94 | -12.78 | 0.0 | 3.83 | -16.92 | 0.0 | 0.09 | -18.18 | 0.0 | 55.88 | -4.33 | 0.0 | 118.27 | -24.86 | 0.0 | 106.82 | 10.87 | 0.0 | -6.82 | -323.64 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 2.47 | -0.8 | 0.0 | 77.69 | 27.88 | 0.0 | 50.27 | 28.34 | 0.0 | 51.99 | 25.22 | 0.0 | 41.47 | 26.01 | 0.0 | 10.25 | 7.33 | 0.0 | 4.61 | -7.43 | 0.0 | 0.11 | -26.67 | 0.0 | 58.41 | 25.26 | 0.0 | 157.39 | 64.15 | 0.0 | 96.34 | 1.86 | 0.0 | 3.05 | -43.77 | 0.0 | 12.93 | 40.24 | 0.0 |
| 19Q4 (1) | 2.49 | 0.0 | 0.0 | 60.75 | 0.0 | 0.0 | 39.17 | 0.0 | 0.0 | 41.52 | 0.0 | 0.0 | 32.91 | 0.0 | 0.0 | 9.55 | 0.0 | 0.0 | 4.98 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 46.63 | 0.0 | 0.0 | 95.88 | 0.0 | 0.0 | 94.58 | 0.0 | 0.0 | 5.42 | 0.0 | 0.0 | 9.22 | 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) | 8.23 | 38.55 | 60.72 | -14.77 | 38.94 | -16.42 | 1.00 | -25.19 | 43.77 | 4.46 | 36.30 | 3.83 | 25.08 | 28.75 | 14.05 | 37.48 | 0.38 | 35.71 | 49.37 | 1.11 | 78.29 | -12.54 | 88.95 | -19.99 | 11.05 | 0 | 2.31 | 7.84 | 11.32 | -17.49 |
| 2022 (9) | 5.94 | -9.45 | 71.24 | -9.27 | 46.59 | 1.46 | 1.34 | -6.69 | 41.90 | -15.22 | 34.96 | -15.56 | 19.48 | -16.22 | 10.22 | -10.82 | 0.28 | 3.7 | 48.83 | -16.24 | 89.52 | -14.42 | 111.17 | 19.57 | -11.17 | 0 | 2.14 | -10.57 | 13.72 | -13.33 |
| 2021 (8) | 6.56 | -31.31 | 78.52 | -1.33 | 45.92 | -12.48 | 1.43 | 19.3 | 49.42 | -7.28 | 41.40 | -4.39 | 23.25 | -36.89 | 11.46 | -37.34 | 0.27 | -35.71 | 58.30 | -3.25 | 104.60 | -6.86 | 92.98 | -5.5 | 7.02 | 336.05 | 2.40 | -9.27 | 15.83 | 28.39 |
| 2020 (7) | 9.55 | -6.56 | 79.58 | 23.96 | 52.47 | 30.68 | 1.20 | 20.17 | 53.30 | 21.55 | 43.30 | 20.21 | 36.84 | -9.24 | 18.29 | -15.05 | 0.42 | -28.81 | 60.26 | 21.17 | 112.31 | 17.14 | 98.39 | 7.54 | 1.61 | -81.08 | 2.64 | -28.38 | 12.33 | 11.79 |
| 2019 (6) | 10.22 | 15.35 | 64.20 | 19.58 | 40.15 | 33.04 | 1.00 | 465.33 | 43.85 | 27.25 | 36.02 | 27.87 | 40.59 | 9.11 | 21.53 | 11.96 | 0.59 | -11.94 | 49.73 | 29.57 | 95.88 | 13.01 | 91.49 | 4.36 | 8.51 | -31.91 | 3.69 | -31.16 | 11.03 | 9.64 |
| 2018 (5) | 8.86 | 30.1 | 53.69 | 28.6 | 30.18 | 58.18 | 0.18 | -8.43 | 34.46 | 45.83 | 28.17 | 36.61 | 37.20 | 36.82 | 19.23 | 45.9 | 0.67 | 6.35 | 38.38 | 42.25 | 84.84 | -21.2 | 87.67 | 8.7 | 12.50 | -35.39 | 5.36 | 0 | 10.06 | 2.65 |
| 2017 (4) | 6.81 | 3.65 | 41.75 | -3.74 | 19.08 | -3.05 | 0.19 | 5.22 | 23.63 | 19.34 | 20.62 | 19.81 | 27.19 | 3.23 | 13.18 | -1.93 | 0.63 | -18.18 | 26.98 | 24.16 | 107.67 | -5.61 | 80.65 | -18.85 | 19.35 | 3034.06 | 0.00 | 0 | 9.80 | 6.18 |
| 2016 (3) | 6.57 | 23.73 | 43.37 | -9.36 | 19.68 | -16.08 | 0.18 | -35.62 | 19.80 | -27.04 | 17.21 | -19.8 | 26.34 | 9.57 | 13.44 | 3.23 | 0.77 | 30.51 | 21.73 | -24.55 | 114.07 | 35.49 | 99.38 | 14.67 | 0.62 | -95.49 | 0.00 | 0 | 9.23 | -19.67 |
| 2015 (2) | 5.31 | -2.21 | 47.85 | 18.68 | 23.45 | 40.76 | 0.29 | -8.75 | 27.14 | 15.24 | 21.46 | 7.03 | 24.04 | -0.95 | 13.02 | -2.98 | 0.59 | -11.94 | 28.80 | 19.7 | 84.19 | -13.96 | 86.67 | 22.42 | 13.68 | -53.14 | 0.00 | 0 | 11.49 | -2.05 |
| 2014 (1) | 5.43 | 27.76 | 40.32 | 0 | 16.66 | 0 | 0.31 | -2.19 | 23.55 | 0 | 20.05 | 0 | 24.27 | 0 | 13.42 | 0 | 0.67 | -32.32 | 24.06 | 53.74 | 97.85 | 55.61 | 70.80 | -14.33 | 29.20 | 61.74 | 0.00 | 0 | 11.73 | 9.73 |
