- 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) | 0.82 | 5.13 | 41.38 | 48.35 | 8.7 | 10.92 | 22.82 | 23.69 | 59.02 | 23.40 | 2.36 | 25.33 | 18.41 | -2.33 | 15.71 | 3.38 | 0.6 | 37.4 | 2.93 | 4.64 | 40.87 | 0.16 | 6.67 | 23.08 | 27.80 | 0.94 | 14.5 | 11.88 | -40.18 | 6.45 | 97.10 | 19.95 | 24.84 | 2.90 | -84.78 | -86.96 | 39.33 | -1.13 | -7.15 |
| 24Q2 (19) | 0.78 | 36.84 | 69.57 | 44.48 | 3.42 | 10.78 | 18.45 | 42.91 | 73.89 | 22.86 | 21.47 | 38.63 | 18.85 | 21.14 | 43.35 | 3.36 | 37.7 | 66.34 | 2.80 | 33.33 | 77.22 | 0.15 | 15.38 | 25.0 | 27.54 | 13.9 | 24.45 | 19.86 | -2.22 | -24.11 | 80.95 | 20.12 | 26.29 | 19.05 | -37.41 | -46.94 | 39.78 | -7.51 | -5.56 |
| 24Q1 (18) | 0.57 | 338.46 | -18.57 | 43.01 | 7.04 | -10.19 | 12.91 | 45.06 | -38.61 | 18.82 | 257.12 | -11.93 | 15.56 | 334.64 | -9.53 | 2.44 | 343.64 | -15.28 | 2.10 | 320.0 | -9.09 | 0.13 | -7.14 | 0.0 | 24.18 | 127.9 | -7.71 | 20.31 | 53.75 | -34.02 | 67.39 | -60.18 | -31.43 | 30.43 | 143.96 | 1665.22 | 43.01 | -3.37 | 12.98 |
| 23Q4 (17) | 0.13 | -77.59 | -60.61 | 40.18 | -7.82 | -17.22 | 8.90 | -37.98 | -55.19 | 5.27 | -71.77 | -69.0 | 3.58 | -77.5 | -47.97 | 0.55 | -77.64 | -56.69 | 0.50 | -75.96 | -53.7 | 0.14 | 7.69 | -6.67 | 10.61 | -56.3 | -49.81 | 13.21 | 18.37 | -32.15 | 169.23 | 117.58 | 45.05 | -69.23 | -411.54 | -315.38 | 44.51 | 5.08 | 9.93 |
| 23Q3 (16) | 0.58 | 26.09 | -52.07 | 43.59 | 8.57 | -16.72 | 14.35 | 35.25 | -51.31 | 18.67 | 13.22 | -48.96 | 15.91 | 20.99 | -21.86 | 2.46 | 21.78 | -49.59 | 2.08 | 31.65 | -43.94 | 0.13 | 8.33 | -27.78 | 24.28 | 9.72 | -38.99 | 11.16 | -57.36 | -41.6 | 77.78 | 21.33 | -3.61 | 22.22 | -38.1 | 15.08 | 42.36 | 0.57 | 21.65 |
| 23Q2 (15) | 0.46 | -34.29 | -67.61 | 40.15 | -16.16 | -18.71 | 10.61 | -49.55 | -61.19 | 16.49 | -22.84 | -48.03 | 13.15 | -23.55 | -47.86 | 2.02 | -29.86 | -66.83 | 1.58 | -31.6 | -61.27 | 0.12 | -7.69 | -25.0 | 22.13 | -15.53 | -37.29 | 26.17 | -14.98 | -42.58 | 64.10 | -34.77 | -25.21 | 35.90 | 1982.05 | 166.99 | 42.12 | 10.64 | 19.49 |
| 23Q1 (14) | 0.70 | 112.12 | -52.38 | 47.89 | -1.34 | -4.22 | 21.03 | 5.89 | -23.25 | 21.37 | 25.71 | -34.27 | 17.20 | 150.0 | -35.09 | 2.88 | 126.77 | -51.52 | 2.31 | 113.89 | -46.28 | 0.13 | -13.33 | -18.75 | 26.20 | 23.94 | -26.75 | 30.78 | 58.09 | -43.48 | 98.28 | -15.76 | 16.76 | 1.72 | 110.34 | -89.11 | 38.07 | -5.98 | 5.25 |
| 22Q4 (13) | 0.33 | -72.73 | -69.44 | 48.54 | -7.26 | -2.12 | 19.86 | -32.61 | -21.9 | 17.00 | -53.53 | -32.99 | 6.88 | -66.21 | -62.83 | 1.27 | -73.98 | -68.8 | 1.08 | -70.89 | -66.87 | 0.15 | -16.67 | -16.67 | 21.14 | -46.88 | -26.11 | 19.47 | 1.88 | -23.62 | 116.67 | 44.59 | 15.49 | -16.67 | -186.31 | 0 | 40.49 | 16.28 | 4.92 |
| 22Q3 (12) | 1.21 | -14.79 | 8.04 | 52.34 | 5.97 | 1.49 | 29.47 | 7.79 | -4.78 | 36.58 | 15.29 | 47.56 | 20.36 | -19.27 | 10.47 | 4.88 | -19.87 | 10.66 | 3.71 | -9.07 | 16.67 | 0.18 | 12.5 | 5.88 | 39.80 | 12.78 | 41.39 | 19.11 | -58.07 | -23.99 | 80.69 | -5.86 | -35.45 | 19.31 | 43.62 | 177.24 | 34.82 | -1.22 | -1.75 |
| 22Q2 (11) | 1.42 | -3.4 | -43.2 | 49.39 | -1.22 | -2.76 | 27.34 | -0.22 | 2.09 | 31.73 | -2.4 | -43.3 | 25.22 | -4.83 | -41.32 | 6.09 | 2.53 | -42.06 | 4.08 | -5.12 | -38.37 | 0.16 | 0.0 | 6.67 | 35.29 | -1.34 | -40.62 | 45.58 | -16.31 | -15.25 | 85.71 | 1.84 | 78.85 | 13.45 | -15.08 | -74.18 | 35.25 | -2.54 | -10.05 |
| 22Q1 (10) | 1.47 | 36.11 | 4.26 | 50.00 | 0.83 | -3.23 | 27.40 | 7.75 | -5.26 | 32.51 | 28.14 | 11.18 | 26.50 | 43.17 | 9.14 | 5.94 | 45.95 | 8.2 | 4.30 | 31.9 | 14.67 | 0.16 | -11.11 | 6.67 | 35.77 | 25.03 | 10.47 | 54.46 | 113.65 | -15.68 | 84.17 | -16.68 | -14.32 | 15.83 | 0 | 1689.17 | 36.17 | -6.27 | 2.23 |
| 21Q4 (9) | 1.08 | -3.57 | -42.86 | 49.59 | -3.84 | -8.57 | 25.43 | -17.84 | -17.14 | 25.37 | 2.34 | -28.07 | 18.51 | 0.43 | -38.32 | 4.07 | -7.71 | -40.76 | 3.26 | 2.52 | -37.79 | 0.18 | 5.88 | 5.88 | 28.61 | 1.63 | -25.36 | 25.49 | 1.39 | -20.29 | 101.02 | -19.18 | 15.9 | 0.00 | 100.0 | -100.0 | 38.59 | 8.89 | 0.7 |
| 21Q3 (8) | 1.12 | -55.2 | -87.83 | 51.57 | 1.54 | -6.2 | 30.95 | 15.57 | 231.37 | 24.79 | -55.7 | -86.64 | 18.43 | -57.12 | -87.5 | 4.41 | -58.04 | -89.47 | 3.18 | -51.96 | -89.27 | 0.17 | 13.33 | -15.0 | 28.15 | -52.63 | -85.06 | 25.14 | -53.25 | -18.16 | 125.00 | 160.82 | 2371.15 | -25.00 | -148.01 | -126.33 | 35.44 | -9.57 | -28.68 |
| 21Q2 (7) | 2.50 | 77.3 | 380.77 | 50.79 | -1.7 | 13.88 | 26.78 | -7.4 | 67.69 | 55.96 | 91.38 | 178.55 | 42.98 | 77.02 | 220.03 | 10.51 | 91.44 | 248.01 | 6.62 | 76.53 | 244.79 | 0.15 | 0.0 | 7.14 | 59.43 | 83.54 | 145.38 | 53.78 | -16.74 | -6.89 | 47.93 | -51.21 | -40.38 | 52.07 | 5784.33 | 141.43 | 39.19 | 10.77 | -0.61 |
| 21Q1 (6) | 1.41 | -25.4 | 56.67 | 51.67 | -4.74 | 0.0 | 28.92 | -5.77 | 9.3 | 29.24 | -17.1 | 11.18 | 24.28 | -19.09 | 15.13 | 5.49 | -20.09 | 10.02 | 3.75 | -28.44 | 8.07 | 0.15 | -11.76 | -6.25 | 32.38 | -15.52 | 6.94 | 64.59 | 101.97 | 9.53 | 98.23 | 12.7 | -1.77 | 0.88 | -93.11 | 0 | 35.38 | -7.67 | -5.8 |
| 20Q4 (5) | 1.89 | -79.46 | 94.85 | 54.24 | -1.35 | 12.34 | 30.69 | 228.59 | 19.09 | 35.27 | -80.99 | 48.01 | 30.01 | -79.64 | 60.91 | 6.87 | -83.59 | 33.14 | 5.24 | -82.32 | 31.66 | 0.17 | -15.0 | -19.05 | 38.33 | -79.66 | 45.3 | 31.98 | 4.1 | 4.58 | 87.16 | 1623.13 | -19.69 | 12.84 | -86.48 | 250.39 | 38.32 | -22.88 | 0 |
| 20Q3 (4) | 9.20 | 1669.23 | 0.0 | 54.98 | 23.27 | 0.0 | 9.34 | -41.52 | 0.0 | 185.49 | 823.3 | 0.0 | 147.41 | 997.62 | 0.0 | 41.87 | 1286.42 | 0.0 | 29.63 | 1443.23 | 0.0 | 0.20 | 42.86 | 0.0 | 188.43 | 677.99 | 0.0 | 30.72 | -46.81 | 0.0 | 5.06 | -93.71 | 0.0 | 94.94 | 340.18 | 0.0 | 49.69 | 26.02 | 0.0 |
| 20Q2 (3) | 0.52 | -42.22 | 0.0 | 44.60 | -13.68 | 0.0 | 15.97 | -39.64 | 0.0 | 20.09 | -23.61 | 0.0 | 13.43 | -36.32 | 0.0 | 3.02 | -39.48 | 0.0 | 1.92 | -44.67 | 0.0 | 0.14 | -12.5 | 0.0 | 24.22 | -20.01 | 0.0 | 57.76 | -2.05 | 0.0 | 80.39 | -19.61 | 0.0 | 21.57 | 0 | 0.0 | 39.43 | 4.98 | 0.0 |
| 20Q1 (2) | 0.90 | -7.22 | 0.0 | 51.67 | 7.02 | 0.0 | 26.46 | 2.68 | 0.0 | 26.30 | 10.37 | 0.0 | 21.09 | 13.08 | 0.0 | 4.99 | -3.29 | 0.0 | 3.47 | -12.81 | 0.0 | 0.16 | -23.81 | 0.0 | 30.28 | 14.78 | 0.0 | 58.97 | 92.84 | 0.0 | 100.00 | -7.87 | 0.0 | -0.00 | 100.0 | 0.0 | 37.56 | 0 | 0.0 |
| 19Q4 (1) | 0.97 | 0.0 | 0.0 | 48.28 | 0.0 | 0.0 | 25.77 | 0.0 | 0.0 | 23.83 | 0.0 | 0.0 | 18.65 | 0.0 | 0.0 | 5.16 | 0.0 | 0.0 | 3.98 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 26.38 | 0.0 | 0.0 | 30.58 | 0.0 | 0.0 | 108.54 | 0.0 | 0.0 | -8.54 | 0.0 | 0.0 | 0.00 | 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) | 1.88 | -57.56 | 43.11 | -14.06 | 13.94 | -47.02 | 4.93 | 46.68 | 15.59 | -48.12 | 12.57 | -37.86 | 7.56 | -54.97 | 6.52 | -52.55 | 0.52 | -23.53 | 20.82 | -38.05 | 13.21 | -32.15 | 89.68 | 2.29 | 10.32 | -16.27 | 1.17 | 14.37 | 41.67 | 14.13 |
| 2022 (9) | 4.43 | -27.38 | 50.16 | -1.47 | 26.31 | -6.2 | 3.36 | 9.58 | 30.05 | -10.96 | 20.23 | -22.1 | 16.79 | -23.75 | 13.74 | -19.79 | 0.68 | 3.03 | 33.61 | -9.16 | 19.47 | -23.62 | 87.67 | 5.45 | 12.33 | -26.86 | 1.02 | 21.23 | 36.51 | -1.67 |
| 2021 (8) | 6.10 | -51.24 | 50.91 | -2.36 | 28.05 | 35.97 | 3.07 | -4.08 | 33.75 | -55.56 | 25.97 | -57.1 | 22.02 | -58.07 | 17.13 | -57.17 | 0.66 | 0.0 | 37.00 | -53.38 | 25.49 | -20.29 | 83.14 | 205.93 | 16.86 | -76.85 | 0.84 | 0.48 | 37.13 | -12.08 |
| 2020 (7) | 12.51 | 265.79 | 52.14 | 9.13 | 20.63 | -12.14 | 3.20 | -3.68 | 75.94 | 222.87 | 60.53 | 227.9 | 52.52 | 194.39 | 40.00 | 181.1 | 0.66 | -14.29 | 79.36 | 194.36 | 31.98 | 4.58 | 27.18 | -72.82 | 72.82 | 0 | 0.84 | -30.13 | 42.23 | 9.21 |
| 2019 (6) | 3.42 | 2.09 | 47.78 | 1.47 | 23.48 | -1.96 | 3.32 | 21.98 | 23.52 | -6.67 | 18.46 | -5.91 | 17.84 | 1.59 | 14.23 | -2.33 | 0.77 | 4.05 | 26.96 | -3.75 | 30.58 | 47.8 | 100.00 | 5.13 | 0.00 | 0 | 1.20 | 1755.86 | 38.67 | 0.76 |
| 2018 (5) | 3.35 | -0.89 | 47.09 | 1.25 | 23.95 | -2.76 | 2.72 | -2.27 | 25.20 | 2.77 | 19.62 | 1.45 | 17.56 | -11.13 | 14.57 | -9.89 | 0.74 | -10.84 | 28.01 | 2.15 | 20.69 | 0.15 | 95.12 | -5.21 | 4.88 | 0 | 0.06 | -1.23 | 38.38 | 3.53 |
| 2017 (4) | 3.38 | 16.96 | 46.51 | 10.4 | 24.63 | 21.81 | 2.79 | -13.74 | 24.52 | 22.29 | 19.34 | 19.38 | 19.76 | 15.56 | 16.17 | 18.37 | 0.83 | -1.19 | 27.42 | 17.03 | 20.66 | -16.25 | 100.35 | -0.56 | -0.35 | 0 | 0.07 | 0 | 37.07 | 1.51 |
| 2016 (3) | 2.89 | -29.51 | 42.13 | -4.79 | 20.22 | -12.54 | 3.23 | 13.81 | 20.05 | -16.46 | 16.20 | -17.68 | 17.10 | -27.36 | 13.66 | -26.16 | 0.84 | -10.64 | 23.43 | -13.06 | 24.67 | -5.98 | 100.92 | 5.05 | -0.92 | 0 | 0.00 | 0 | 36.52 | 0.44 |
| 2015 (2) | 4.10 | -0.73 | 44.25 | -4.8 | 23.12 | 3.03 | 2.84 | 8.4 | 24.00 | -1.96 | 19.68 | -1.16 | 23.54 | -3.52 | 18.50 | -2.43 | 0.94 | -1.05 | 26.95 | -1.21 | 26.24 | -9.14 | 96.07 | 4.89 | 3.61 | -57.14 | 0.00 | 0 | 36.36 | 2.77 |
| 2014 (1) | 4.13 | -29.76 | 46.48 | 0 | 22.44 | 0 | 2.62 | -12.88 | 24.48 | 0 | 19.91 | 0 | 24.40 | 0 | 18.96 | 0 | 0.95 | -15.93 | 27.28 | -15.62 | 28.88 | -0.99 | 91.59 | -3.65 | 8.41 | 70.15 | 0.00 | 0 | 35.38 | 6.86 |
