- 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) | 2.30 | 15.58 | -10.85 | 44.58 | 21.87 | 9.97 | 24.94 | 73.56 | 23.04 | 30.02 | 13.88 | -20.71 | 24.05 | 21.16 | -23.82 | 1.20 | 26.32 | -16.08 | 1.11 | 26.14 | -17.78 | 0.05 | 25.0 | 25.0 | 34.25 | 11.67 | -17.39 | 8.00 | -14.98 | 18.52 | 82.93 | 52.59 | 55.59 | 17.07 | -62.6 | -63.01 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 1.99 | -17.77 | -31.14 | 36.58 | -8.73 | -11.06 | 14.37 | -23.56 | -37.9 | 26.36 | -29.91 | -44.16 | 19.85 | -36.5 | -49.0 | 0.95 | -20.17 | -49.74 | 0.88 | -21.43 | -50.28 | 0.04 | 0.0 | -20.0 | 30.67 | -26.54 | -39.84 | 9.41 | 31.06 | 23.01 | 54.35 | 9.4 | 10.52 | 45.65 | -8.1 | -10.18 | 22.21 | 3.79 | 16.22 |
| 24Q1 (18) | 2.42 | 38.29 | 62.42 | 40.08 | -8.24 | -2.15 | 18.80 | -17.47 | -6.51 | 37.61 | 19.13 | 6.66 | 31.26 | 27.96 | 14.8 | 1.19 | 11.21 | 20.2 | 1.12 | 10.89 | 20.43 | 0.04 | 0.0 | 33.33 | 41.75 | 18.68 | 3.57 | 7.18 | 7.0 | -11.36 | 49.68 | -31.29 | -12.75 | 49.68 | 79.32 | 15.35 | 21.40 | 9.41 | -0.37 |
| 23Q4 (17) | 1.75 | -32.17 | -58.73 | 43.68 | 7.75 | -17.68 | 22.78 | 12.38 | -43.92 | 31.57 | -16.61 | -30.39 | 24.43 | -22.62 | -59.13 | 1.07 | -25.17 | -71.16 | 1.01 | -25.19 | -67.31 | 0.04 | 0.0 | -20.0 | 35.18 | -15.15 | -27.06 | 6.71 | -0.59 | -33.17 | 72.30 | 35.65 | -19.01 | 27.70 | -39.98 | 170.43 | 19.56 | -0.36 | 32.07 |
| 23Q3 (16) | 2.58 | -10.73 | -40.69 | 40.54 | -1.43 | -1.19 | 20.27 | -12.4 | -22.9 | 37.86 | -19.81 | -20.18 | 31.57 | -18.88 | -16.77 | 1.43 | -24.34 | -77.41 | 1.35 | -23.73 | -68.01 | 0.04 | -20.0 | -63.64 | 41.46 | -18.67 | -16.81 | 6.75 | -11.76 | -86.49 | 53.30 | 8.38 | -3.94 | 46.15 | -9.19 | 3.67 | 19.63 | 2.72 | 40.11 |
| 23Q2 (15) | 2.89 | 93.96 | -13.47 | 41.13 | 0.42 | 1.81 | 23.14 | 15.07 | -12.48 | 47.21 | 33.89 | 14.56 | 38.92 | 42.93 | 22.54 | 1.89 | 90.91 | -61.97 | 1.77 | 90.32 | -49.14 | 0.05 | 66.67 | -54.55 | 50.98 | 26.47 | 16.42 | 7.65 | -5.56 | -85.65 | 49.17 | -13.63 | -23.44 | 50.83 | 18.02 | 42.08 | 19.11 | -11.03 | 24.82 |
| 23Q1 (14) | 1.49 | -64.86 | -60.99 | 40.96 | -22.8 | -20.0 | 20.11 | -50.49 | -49.2 | 35.26 | -22.25 | -20.26 | 27.23 | -54.45 | -21.35 | 0.99 | -73.32 | -82.81 | 0.93 | -69.9 | -77.86 | 0.03 | -40.0 | -75.0 | 40.31 | -16.42 | -13.9 | 8.10 | -19.32 | -77.78 | 56.93 | -36.22 | -36.43 | 43.07 | 320.4 | 312.84 | 21.48 | 45.04 | 72.39 |
| 22Q4 (13) | 4.24 | -2.53 | 17.78 | 53.06 | 29.32 | 11.26 | 40.62 | 54.51 | 22.68 | 45.35 | -4.39 | 30.65 | 59.78 | 57.61 | 112.82 | 3.71 | -41.39 | -36.36 | 3.09 | -26.78 | -25.54 | 0.05 | -54.55 | -66.67 | 48.23 | -3.23 | 30.92 | 10.04 | -79.9 | -75.01 | 89.27 | 60.9 | -6.25 | 10.24 | -76.99 | 114.27 | 14.81 | 5.71 | -7.32 |
| 22Q3 (12) | 4.35 | 30.24 | -3.33 | 41.03 | 1.56 | -24.28 | 26.29 | -0.57 | -36.83 | 47.43 | 15.09 | 6.85 | 37.93 | 19.43 | 10.13 | 6.33 | 27.36 | -18.53 | 4.22 | 21.26 | -20.68 | 0.11 | 0.0 | -26.67 | 49.84 | 13.82 | 7.3 | 49.95 | -6.32 | 16.03 | 55.48 | -13.62 | -40.88 | 44.52 | 24.45 | 623.42 | 14.01 | -8.49 | 18.83 |
| 22Q2 (11) | 3.34 | -12.57 | 15.17 | 40.40 | -21.09 | -24.0 | 26.44 | -33.22 | -31.25 | 41.21 | -6.81 | 12.08 | 31.76 | -8.26 | 21.41 | 4.97 | -13.72 | -0.2 | 3.48 | -17.14 | 0.0 | 0.11 | -8.33 | -15.38 | 43.79 | -6.47 | 12.37 | 53.32 | 46.28 | 3.19 | 64.23 | -28.29 | -38.73 | 35.77 | 242.92 | 915.61 | 15.31 | 22.87 | 5.73 |
| 22Q1 (10) | 3.82 | 6.11 | 21.66 | 51.20 | 7.36 | -4.83 | 39.59 | 19.57 | -1.74 | 44.22 | 27.4 | 5.06 | 34.62 | 23.25 | 12.99 | 5.76 | -1.2 | 6.67 | 4.20 | 1.2 | 7.42 | 0.12 | -20.0 | -7.69 | 46.82 | 27.09 | 5.57 | 36.45 | -9.28 | -5.23 | 89.57 | -5.93 | -6.24 | 10.43 | 118.2 | 133.29 | 12.46 | -22.03 | -5.53 |
| 21Q4 (9) | 3.60 | -20.0 | 81.82 | 47.69 | -11.99 | -12.21 | 33.11 | -20.45 | 68.41 | 34.71 | -21.81 | 140.37 | 28.09 | -18.44 | 87.27 | 5.83 | -24.97 | 53.02 | 4.15 | -21.99 | 59.62 | 0.15 | 0.0 | -11.76 | 36.84 | -20.69 | 115.94 | 40.18 | -6.67 | -1.74 | 95.22 | 1.46 | -30.17 | 4.78 | -22.31 | 113.15 | 15.98 | 35.54 | -45.87 |
| 21Q3 (8) | 4.50 | 55.17 | -11.42 | 54.19 | 1.94 | -11.0 | 41.62 | 8.22 | -22.47 | 44.39 | 20.72 | -5.43 | 34.44 | 31.65 | -4.62 | 7.77 | 56.02 | -40.41 | 5.32 | 52.87 | -30.0 | 0.15 | 15.38 | -28.57 | 46.45 | 19.19 | -4.85 | 43.05 | -16.68 | -30.51 | 93.85 | -10.47 | -18.04 | 6.15 | 240.31 | 142.45 | 11.79 | -18.58 | 57.41 |
| 21Q2 (7) | 2.90 | -7.64 | -19.67 | 53.16 | -1.19 | -4.95 | 38.46 | -4.54 | -5.36 | 36.77 | -12.64 | -10.67 | 26.16 | -14.62 | -14.03 | 4.98 | -7.78 | -49.13 | 3.48 | -11.0 | -39.69 | 0.13 | 0.0 | -31.58 | 38.97 | -12.13 | -9.52 | 51.67 | 34.35 | -40.17 | 104.82 | 9.73 | 6.1 | -4.39 | -198.09 | -464.04 | 14.48 | 9.78 | 11.13 |
| 21Q1 (6) | 3.14 | 58.59 | 80.46 | 53.80 | -0.96 | 8.34 | 40.29 | 104.93 | 45.93 | 42.09 | 191.48 | 26.36 | 30.64 | 104.27 | 22.32 | 5.40 | 41.73 | 17.65 | 3.91 | 50.38 | 29.47 | 0.13 | -23.53 | 8.33 | 44.35 | 159.96 | 19.06 | 38.46 | -5.94 | -30.46 | 95.53 | -29.95 | 15.43 | 4.47 | 112.3 | -74.07 | 13.19 | -55.32 | -27.65 |
| 20Q4 (5) | 1.98 | -61.02 | 13.79 | 54.32 | -10.79 | 15.4 | 19.66 | -63.38 | -28.56 | 14.44 | -69.24 | -37.95 | 15.00 | -58.46 | -15.06 | 3.81 | -70.78 | -22.24 | 2.60 | -65.79 | -20.73 | 0.17 | -19.05 | -5.56 | 17.06 | -65.06 | -35.33 | 40.89 | -34.0 | -30.39 | 136.36 | 19.1 | 14.94 | -36.36 | -150.83 | -95.04 | 29.52 | 294.13 | 99.59 |
| 20Q3 (4) | 5.08 | 40.72 | 0.0 | 60.89 | 8.87 | 0.0 | 53.68 | 32.09 | 0.0 | 46.94 | 14.04 | 0.0 | 36.11 | 18.67 | 0.0 | 13.04 | 33.2 | 0.0 | 7.60 | 31.72 | 0.0 | 0.21 | 10.53 | 0.0 | 48.82 | 13.35 | 0.0 | 61.95 | -28.27 | 0.0 | 114.50 | 15.89 | 0.0 | -14.50 | -1303.25 | 0.0 | 7.49 | -42.52 | 0.0 |
| 20Q2 (3) | 3.61 | 107.47 | 0.0 | 55.93 | 12.63 | 0.0 | 40.64 | 47.19 | 0.0 | 41.16 | 23.57 | 0.0 | 30.43 | 21.48 | 0.0 | 9.79 | 113.29 | 0.0 | 5.77 | 91.06 | 0.0 | 0.19 | 58.33 | 0.0 | 43.07 | 15.62 | 0.0 | 86.36 | 56.14 | 0.0 | 98.80 | 19.38 | 0.0 | 1.20 | -93.01 | 0.0 | 13.03 | -28.52 | 0.0 |
| 20Q1 (2) | 1.74 | 0.0 | 0.0 | 49.66 | 5.5 | 0.0 | 27.61 | 0.33 | 0.0 | 33.31 | 43.15 | 0.0 | 25.05 | 41.85 | 0.0 | 4.59 | -6.33 | 0.0 | 3.02 | -7.93 | 0.0 | 0.12 | -33.33 | 0.0 | 37.25 | 41.21 | 0.0 | 55.31 | -5.84 | 0.0 | 82.76 | -30.25 | 0.0 | 17.24 | 192.48 | 0.0 | 18.23 | 23.26 | 0.0 |
| 19Q4 (1) | 1.74 | 0.0 | 0.0 | 47.07 | 0.0 | 0.0 | 27.52 | 0.0 | 0.0 | 23.27 | 0.0 | 0.0 | 17.66 | 0.0 | 0.0 | 4.90 | 0.0 | 0.0 | 3.28 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 26.38 | 0.0 | 0.0 | 58.74 | 0.0 | 0.0 | 118.64 | 0.0 | 0.0 | -18.64 | 0.0 | 0.0 | 14.79 | 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) | 8.97 | -43.05 | 41.59 | -9.57 | 21.67 | -33.83 | 3.41 | 60.56 | 38.31 | -14.01 | 30.89 | -22.21 | 5.40 | -58.11 | 5.05 | -54.3 | 0.16 | -42.86 | 42.29 | -10.33 | 6.71 | -33.17 | 56.64 | -22.91 | 43.50 | 64.58 | 0.07 | 4.11 | 19.86 | 41.05 |
| 2022 (9) | 15.75 | 11.39 | 45.99 | -11.73 | 32.75 | -14.45 | 2.12 | 22.71 | 44.55 | 12.84 | 39.71 | 32.59 | 12.89 | -44.7 | 11.05 | -34.03 | 0.28 | -49.09 | 47.16 | 13.23 | 10.04 | -75.01 | 73.47 | -24.22 | 26.43 | 767.35 | 0.07 | -65.49 | 14.08 | 1.59 |
| 2021 (8) | 14.14 | 14.12 | 52.10 | -7.05 | 38.28 | 4.59 | 1.73 | -9.27 | 39.48 | 16.12 | 29.95 | 11.38 | 23.31 | -6.31 | 16.75 | -1.99 | 0.55 | -12.7 | 41.65 | 14.2 | 40.18 | -1.74 | 96.95 | -9.89 | 3.05 | 0 | 0.20 | 29.09 | 13.86 | -17.99 |
| 2020 (7) | 12.39 | 52.21 | 56.05 | 20.1 | 36.60 | 27.08 | 1.91 | -13.72 | 34.00 | 14.83 | 26.89 | 19.67 | 24.88 | 8.32 | 17.09 | 7.82 | 0.63 | -10.0 | 36.47 | 13.37 | 40.89 | -30.39 | 107.60 | 10.41 | -7.60 | 0 | 0.15 | -71.54 | 16.90 | -4.9 |
| 2019 (6) | 8.14 | 2.52 | 46.67 | 3.73 | 28.80 | 0.21 | 2.21 | 29.94 | 29.61 | -7.64 | 22.47 | -9.43 | 22.97 | -3.53 | 15.85 | -13.53 | 0.70 | -5.41 | 32.17 | -5.22 | 58.74 | 79.58 | 97.45 | 8.78 | 2.73 | -73.77 | 0.54 | -29.88 | 17.77 | -7.4 |
| 2018 (5) | 7.94 | 12.78 | 44.99 | -1.85 | 28.74 | -8.7 | 1.70 | -7.5 | 32.06 | 6.72 | 24.81 | 9.78 | 23.81 | -6.99 | 18.33 | -3.58 | 0.74 | -11.9 | 33.94 | 6.1 | 32.71 | 20.39 | 89.58 | -14.49 | 10.42 | 0 | 0.77 | 0 | 19.19 | 11.5 |
| 2017 (4) | 7.04 | 3.68 | 45.84 | -0.04 | 31.48 | -1.16 | 1.84 | -5.54 | 30.04 | -11.83 | 22.60 | -10.21 | 25.60 | -14.35 | 19.01 | -10.88 | 0.84 | -1.18 | 31.99 | -11.65 | 27.17 | -44.3 | 104.76 | 12.08 | -4.76 | 0 | 0.00 | 0 | 17.21 | -4.6 |
| 2016 (3) | 6.79 | 4.3 | 45.86 | 5.21 | 31.85 | 3.68 | 1.95 | -11.22 | 34.07 | 4.22 | 25.17 | 7.38 | 29.89 | 23.56 | 21.33 | 18.3 | 0.85 | 10.39 | 36.21 | 3.04 | 48.78 | 38.07 | 93.47 | -0.48 | 6.53 | 7.42 | 0.00 | 0 | 18.04 | 8.54 |
| 2015 (2) | 6.51 | -48.21 | 43.59 | 4.56 | 30.72 | 7.9 | 2.19 | 2.24 | 32.69 | 6.52 | 23.44 | 0.56 | 24.19 | 0 | 18.03 | 0 | 0.77 | 0 | 35.14 | 6.07 | 35.33 | 3.46 | 93.92 | 1.22 | 6.08 | -15.64 | 0.00 | 0 | 16.62 | 0 |
| 2014 (1) | 12.57 | 0 | 41.69 | 0 | 28.47 | 0 | 2.14 | 0 | 30.69 | 0 | 23.31 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 33.13 | 0 | 34.15 | 0 | 92.79 | 0 | 7.21 | 0 | 0.00 | 0 | 0.00 | 0 |
