- 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) | 0.59 | -20.27 | -43.27 | 25.76 | -2.13 | -13.64 | 16.32 | -0.43 | -18.36 | 15.86 | -18.29 | -40.4 | 12.60 | -19.85 | -42.15 | 3.32 | -23.5 | -45.21 | 2.33 | -17.96 | -39.48 | 0.18 | 0.0 | 5.88 | 19.06 | -14.68 | -35.43 | 45.66 | -8.77 | -22.1 | 101.64 | 21.0 | 35.52 | -3.28 | -120.49 | -113.11 | 9.70 | -5.64 | -1.12 |
| 24Q2 (19) | 0.74 | -17.78 | -12.94 | 26.32 | -4.15 | -13.59 | 16.39 | -0.67 | -19.62 | 19.41 | -20.48 | -22.02 | 15.72 | -19.51 | -16.78 | 4.34 | -15.73 | -17.02 | 2.84 | -14.46 | -11.53 | 0.18 | 5.88 | 12.5 | 22.34 | -18.23 | -19.18 | 50.05 | -22.55 | -23.27 | 84.00 | 24.65 | 3.04 | 16.00 | -50.93 | -13.41 | 10.28 | -4.01 | 3.73 |
| 24Q1 (18) | 0.90 | 55.17 | 40.62 | 27.46 | -3.68 | -5.86 | 16.50 | -13.2 | -14.77 | 24.41 | 73.24 | 27.6 | 19.53 | 72.98 | 27.56 | 5.15 | 59.44 | 28.43 | 3.32 | 53.7 | 40.08 | 0.17 | -5.56 | 13.33 | 27.32 | 62.43 | 23.68 | 64.62 | 21.42 | -8.66 | 67.39 | -50.3 | -33.61 | 32.61 | 191.61 | 2252.17 | 10.71 | 13.09 | 13.57 |
| 23Q4 (17) | 0.58 | -44.23 | 41.46 | 28.51 | -4.43 | 3.71 | 19.01 | -4.9 | 11.82 | 14.09 | -47.05 | 14.93 | 11.29 | -48.16 | 18.1 | 3.23 | -46.7 | 25.19 | 2.16 | -43.9 | 37.58 | 0.18 | 5.88 | 20.0 | 16.82 | -43.02 | 9.93 | 53.22 | -9.2 | -34.54 | 135.59 | 80.79 | -2.82 | -35.59 | -242.37 | 9.97 | 9.47 | -3.47 | 9.48 |
| 23Q3 (16) | 1.04 | 22.35 | 60.0 | 29.83 | -2.07 | 30.26 | 19.99 | -1.96 | 67.7 | 26.61 | 6.91 | 16.66 | 21.78 | 15.3 | 20.07 | 6.06 | 15.87 | 43.6 | 3.85 | 19.94 | 54.0 | 0.17 | 6.25 | 30.77 | 29.52 | 6.8 | 12.71 | 58.61 | -10.15 | -14.12 | 75.00 | -8.0 | 43.57 | 25.00 | 35.29 | -47.66 | 9.81 | -1.01 | -8.23 |
| 23Q2 (15) | 0.85 | 32.81 | 44.07 | 30.46 | 4.42 | 31.46 | 20.39 | 5.32 | 56.97 | 24.89 | 30.11 | 39.52 | 18.89 | 23.38 | 32.75 | 5.23 | 30.42 | 32.07 | 3.21 | 35.44 | 43.3 | 0.16 | 6.67 | 6.67 | 27.64 | 25.12 | 33.46 | 65.23 | -7.8 | -19.39 | 81.52 | -19.7 | 11.17 | 18.48 | 1319.57 | -30.71 | 9.91 | 5.09 | 6.44 |
| 23Q1 (14) | 0.64 | 56.1 | 36.17 | 29.17 | 6.11 | 35.42 | 19.36 | 13.88 | 89.8 | 19.13 | 56.04 | 29.78 | 15.31 | 60.15 | 30.19 | 4.01 | 55.43 | 25.31 | 2.37 | 50.96 | 30.94 | 0.15 | 0.0 | 0.0 | 22.09 | 44.38 | 23.75 | 70.75 | -12.98 | -18.25 | 101.52 | -27.25 | 47.66 | -1.52 | 96.17 | -104.85 | 9.43 | 9.02 | -5.61 |
| 22Q4 (13) | 0.41 | -36.92 | 78.26 | 27.49 | 20.04 | 61.8 | 17.00 | 42.62 | 90.58 | 12.26 | -46.25 | 65.9 | 9.56 | -47.3 | 74.13 | 2.58 | -38.86 | 67.53 | 1.57 | -37.2 | 72.53 | 0.15 | 15.38 | 0.0 | 15.30 | -41.58 | 45.99 | 81.30 | 19.12 | -2.52 | 139.53 | 167.11 | 16.28 | -39.53 | -182.78 | -97.67 | 8.65 | -19.08 | 17.05 |
| 22Q3 (12) | 0.65 | 10.17 | 96.97 | 22.90 | -1.17 | 6.31 | 11.92 | -8.24 | 2.23 | 22.81 | 27.86 | 116.0 | 18.14 | 27.48 | 113.92 | 4.22 | 6.57 | 83.48 | 2.50 | 11.61 | 92.31 | 0.13 | -13.33 | -7.14 | 26.19 | 26.46 | 103.18 | 68.25 | -15.66 | -23.73 | 52.24 | -28.77 | -52.0 | 47.76 | 79.1 | 641.29 | 10.69 | 14.82 | 27.26 |
| 22Q2 (11) | 0.59 | 25.53 | 247.06 | 23.17 | 7.57 | 9.14 | 12.99 | 27.35 | 25.02 | 17.84 | 21.03 | 232.84 | 14.23 | 21.0 | 233.26 | 3.96 | 23.75 | 235.59 | 2.24 | 23.76 | 211.11 | 0.15 | 0.0 | 0.0 | 20.71 | 16.02 | 195.44 | 80.92 | -6.49 | -6.19 | 73.33 | 6.67 | -62.22 | 26.67 | -14.67 | 128.33 | 9.31 | -6.81 | -1.38 |
| 22Q1 (10) | 0.47 | 104.35 | 74.07 | 21.54 | 26.78 | 4.16 | 10.20 | 14.35 | -2.02 | 14.74 | 99.46 | 47.7 | 11.76 | 114.21 | 48.3 | 3.20 | 107.79 | 70.21 | 1.81 | 98.9 | 58.77 | 0.15 | 0.0 | 15.38 | 17.85 | 70.32 | 48.87 | 86.54 | 3.76 | 8.12 | 68.75 | -42.71 | -33.71 | 31.25 | 256.25 | 943.75 | 9.99 | 35.18 | 4.06 |
| 21Q4 (9) | 0.23 | -30.3 | 21.05 | 16.99 | -21.12 | -20.42 | 8.92 | -23.5 | -23.56 | 7.39 | -30.02 | 10.13 | 5.49 | -35.26 | -1.44 | 1.54 | -33.04 | 14.07 | 0.91 | -30.0 | 5.81 | 0.15 | 7.14 | 7.14 | 10.48 | -18.7 | 18.82 | 83.40 | -6.79 | 11.84 | 120.00 | 10.27 | -32.5 | -20.00 | -126.67 | 72.31 | 7.39 | -12.02 | -20.62 |
| 21Q3 (8) | 0.33 | 94.12 | 106.25 | 21.54 | 1.46 | 2.72 | 11.66 | 12.22 | 10.84 | 10.56 | 97.01 | 60.24 | 8.48 | 98.59 | 72.36 | 2.30 | 94.92 | 101.75 | 1.30 | 80.56 | 73.33 | 0.14 | -6.67 | 0.0 | 12.89 | 83.88 | 50.58 | 89.48 | 3.73 | 23.27 | 108.82 | -43.94 | -31.48 | -8.82 | 90.62 | 85.0 | 8.40 | -11.02 | -9.68 |
| 21Q2 (7) | 0.17 | -37.04 | 183.33 | 21.23 | 2.66 | 10.69 | 10.39 | -0.19 | 39.09 | 5.36 | -46.29 | 81.69 | 4.27 | -46.15 | 87.28 | 1.18 | -37.23 | 174.42 | 0.72 | -36.84 | 125.0 | 0.15 | 15.38 | 25.0 | 7.01 | -41.53 | 33.27 | 86.26 | 7.77 | 37.2 | 194.12 | 87.18 | -27.21 | -94.12 | -2441.18 | 37.25 | 9.44 | -1.67 | 0 |
| 21Q1 (6) | 0.27 | 42.11 | 370.0 | 20.68 | -3.14 | 21.58 | 10.41 | -10.8 | 99.81 | 9.98 | 48.73 | 17.55 | 7.93 | 42.37 | 322.13 | 1.88 | 39.26 | 380.6 | 1.14 | 32.56 | 400.0 | 0.13 | -7.14 | 8.33 | 11.99 | 35.94 | 11.53 | 80.04 | 7.34 | 36.17 | 103.70 | -41.67 | 69.7 | -3.70 | 94.87 | -109.52 | 9.60 | 3.11 | -10.78 |
| 20Q4 (5) | 0.19 | 18.75 | 0.0 | 21.35 | 1.81 | 12.31 | 11.67 | 10.93 | 39.26 | 6.71 | 1.82 | -3.87 | 5.57 | 13.21 | 2.2 | 1.35 | 18.42 | 7.14 | 0.86 | 14.67 | -2.27 | 0.14 | 0.0 | -6.67 | 8.82 | 3.04 | 1.61 | 74.57 | 2.73 | 43.93 | 177.78 | 11.93 | 53.54 | -72.22 | -22.78 | -243.06 | 9.31 | 0.11 | 0.98 |
| 20Q3 (4) | 0.16 | 166.67 | 0.0 | 20.97 | 9.33 | 0.0 | 10.52 | 40.83 | 0.0 | 6.59 | 123.39 | 0.0 | 4.92 | 115.79 | 0.0 | 1.14 | 165.12 | 0.0 | 0.75 | 134.38 | 0.0 | 0.14 | 16.67 | 0.0 | 8.56 | 62.74 | 0.0 | 72.59 | 15.46 | 0.0 | 158.82 | -40.44 | 0.0 | -58.82 | 60.78 | 0.0 | 9.30 | 0 | 0.0 |
| 20Q2 (3) | 0.06 | 160.0 | 0.0 | 19.18 | 12.76 | 0.0 | 7.47 | 43.38 | 0.0 | 2.95 | -65.25 | 0.0 | 2.28 | 163.87 | 0.0 | 0.43 | 164.18 | 0.0 | 0.32 | 184.21 | 0.0 | 0.12 | 0.0 | 0.0 | 5.26 | -51.07 | 0.0 | 62.87 | 6.96 | 0.0 | 266.67 | 336.36 | 0.0 | -150.00 | -485.71 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | -0.10 | -152.63 | 0.0 | 17.01 | -10.52 | 0.0 | 5.21 | -37.83 | 0.0 | 8.49 | 21.63 | 0.0 | -3.57 | -165.5 | 0.0 | -0.67 | -153.17 | 0.0 | -0.38 | -143.18 | 0.0 | 0.12 | -20.0 | 0.0 | 10.75 | 23.85 | 0.0 | 58.78 | 13.45 | 0.0 | 61.11 | -47.22 | 0.0 | 38.89 | 284.72 | 0.0 | 10.76 | 16.7 | 0.0 |
| 19Q4 (1) | 0.19 | 0.0 | 0.0 | 19.01 | 0.0 | 0.0 | 8.38 | 0.0 | 0.0 | 6.98 | 0.0 | 0.0 | 5.45 | 0.0 | 0.0 | 1.26 | 0.0 | 0.0 | 0.88 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 8.68 | 0.0 | 0.0 | 51.81 | 0.0 | 0.0 | 115.79 | 0.0 | 0.0 | -21.05 | 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) | 3.12 | 46.48 | 29.47 | 23.46 | 19.67 | 49.7 | 2.10 | -8.42 | 21.05 | 26.2 | 16.72 | 26.28 | 18.09 | 31.66 | 11.24 | 42.82 | 0.65 | 14.04 | 23.90 | 20.95 | 53.22 | -34.54 | 93.46 | 19.0 | 6.54 | -68.85 | 0.04 | 4.93 | 9.65 | 0.42 |
| 2022 (9) | 2.13 | 113.0 | 23.87 | 19.11 | 13.14 | 27.33 | 2.29 | 41.08 | 16.68 | 102.18 | 13.24 | 104.32 | 13.74 | 100.29 | 7.87 | 89.64 | 0.57 | -3.39 | 19.76 | 87.48 | 81.30 | -2.52 | 78.54 | -36.92 | 21.00 | 0 | 0.04 | -8.56 | 9.61 | 11.1 |
| 2021 (8) | 1.00 | 212.5 | 20.04 | 1.21 | 10.32 | 14.92 | 1.62 | 3.05 | 8.25 | 32.0 | 6.48 | 147.33 | 6.86 | 214.68 | 4.15 | 161.01 | 0.59 | 15.69 | 10.54 | 25.63 | 83.40 | 11.84 | 124.51 | -13.13 | -25.49 | 0 | 0.05 | 0 | 8.65 | -13.07 |
| 2020 (7) | 0.32 | -61.9 | 19.80 | 3.29 | 8.98 | 3.34 | 1.57 | 11.23 | 6.25 | -20.99 | 2.62 | -57.67 | 2.18 | -61.82 | 1.59 | -60.45 | 0.51 | -17.74 | 8.39 | -14.48 | 74.57 | 43.93 | 143.33 | 30.87 | -43.33 | 0 | 0.00 | 0 | 9.95 | 5.85 |
| 2019 (6) | 0.84 | 16.67 | 19.17 | 21.33 | 8.69 | 47.54 | 1.42 | 15.13 | 7.91 | 27.17 | 6.19 | 23.31 | 5.71 | 13.97 | 4.02 | 9.84 | 0.62 | -10.14 | 9.81 | 25.61 | 51.81 | 7.94 | 109.52 | 16.06 | -9.52 | 0 | 0.00 | 0 | 9.40 | 5.86 |
| 2018 (5) | 0.72 | -76.0 | 15.80 | 0.57 | 5.89 | 8.87 | 1.23 | -20.34 | 6.22 | -9.59 | 5.02 | -74.18 | 5.01 | -13.47 | 3.66 | -9.41 | 0.69 | 6.15 | 7.81 | -11.95 | 48.00 | 12.46 | 94.37 | 19.64 | 5.63 | -73.33 | 0.00 | 0 | 8.88 | -11.99 |
| 2017 (4) | 3.00 | 305.41 | 15.71 | -14.76 | 5.41 | -23.7 | 1.54 | -71.58 | 6.88 | 9.38 | 19.44 | 300.82 | 5.79 | 4.89 | 4.04 | 12.22 | 0.65 | 1.56 | 8.87 | -28.7 | 42.68 | -30.66 | 78.87 | -29.89 | 21.13 | 0 | 0.00 | 0 | 10.09 | -24.53 |
| 2016 (3) | 0.74 | 0 | 18.43 | -0.27 | 7.09 | 0 | 5.43 | -1.91 | 6.29 | 0 | 4.85 | 0 | 5.52 | 0 | 3.60 | 0 | 0.64 | 1.59 | 12.44 | 169.85 | 61.55 | -15.77 | 112.50 | 50.0 | -12.50 | 0 | 0.00 | 0 | 13.37 | 3.4 |
| 2015 (2) | -0.46 | 0 | 18.48 | -5.57 | -1.67 | 0 | 5.54 | 28.71 | -2.17 | 0 | -2.82 | 0 | -3.13 | 0 | -1.23 | 0 | 0.63 | -17.11 | 4.61 | -44.05 | 73.07 | -6.61 | 75.00 | -15.38 | 20.83 | 52.78 | 0.00 | 0 | 12.93 | 17.12 |
| 2014 (1) | 0.40 | -89.19 | 19.57 | 0 | 2.81 | 0 | 4.30 | -0.02 | 3.22 | 0 | 1.94 | 0 | 2.56 | 0 | 1.80 | 0 | 0.76 | -11.63 | 8.24 | -60.76 | 78.24 | 10.6 | 88.64 | 774.28 | 13.64 | -84.83 | 0.00 | 0 | 11.04 | -1.43 |
