- 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) | 1.53 | 8.51 | 5.52 | 35.96 | 3.33 | -0.33 | 15.56 | 0.65 | -2.57 | 16.90 | -1.23 | -8.75 | 13.58 | 1.95 | -8.68 | 5.47 | 3.99 | -4.7 | 3.50 | 8.7 | -4.11 | 0.26 | 8.33 | 8.33 | 19.16 | -1.29 | -8.54 | 59.60 | 9.24 | 15.62 | 92.07 | 1.92 | 6.65 | 7.93 | -17.96 | -41.97 | 13.54 | -2.1 | -5.91 |
| 24Q2 (19) | 1.41 | -13.5 | 58.43 | 34.80 | -3.81 | 3.36 | 15.46 | -6.92 | 24.38 | 17.11 | -7.46 | 24.98 | 13.32 | -8.95 | 29.57 | 5.26 | -13.06 | 52.91 | 3.22 | -12.26 | 42.48 | 0.24 | -4.0 | 9.09 | 19.41 | -6.23 | 18.43 | 54.56 | -26.15 | -14.87 | 90.33 | 0.69 | -0.44 | 9.67 | -6.04 | 4.35 | 13.83 | 5.41 | 0.51 |
| 24Q1 (18) | 1.63 | 4.49 | 63.0 | 36.18 | 4.27 | 3.82 | 16.61 | -3.15 | 24.61 | 18.49 | -1.23 | 28.31 | 14.63 | -0.95 | 31.09 | 6.05 | 4.49 | 62.63 | 3.67 | -2.13 | 45.06 | 0.25 | 0.0 | 13.64 | 20.70 | -1.48 | 22.27 | 73.88 | 27.58 | 66.81 | 89.71 | -2.11 | -3.02 | 10.29 | 23.2 | 37.21 | 13.12 | -4.79 | -6.35 |
| 23Q4 (17) | 1.56 | 7.59 | 31.09 | 34.70 | -3.82 | 9.33 | 17.15 | 7.39 | 17.63 | 18.72 | 1.08 | 23.08 | 14.77 | -0.67 | 25.28 | 5.79 | 0.87 | 27.81 | 3.75 | 2.74 | 25.0 | 0.25 | 4.17 | 0.0 | 21.01 | 0.29 | 19.31 | 57.91 | 12.34 | 11.64 | 91.65 | 6.16 | -4.28 | 8.35 | -38.9 | 96.29 | 13.78 | -4.24 | 24.48 |
| 23Q3 (16) | 1.45 | 62.92 | 26.09 | 36.08 | 7.16 | 7.96 | 15.97 | 28.48 | 33.31 | 18.52 | 35.28 | 19.25 | 14.87 | 44.65 | 16.99 | 5.74 | 66.86 | 23.71 | 3.65 | 61.5 | 25.86 | 0.24 | 9.09 | 4.35 | 20.95 | 27.82 | 17.76 | 51.55 | -19.57 | -1.15 | 86.33 | -4.85 | 12.04 | 13.67 | 47.53 | -40.43 | 14.39 | 4.58 | -2.18 |
| 23Q2 (15) | 0.89 | -11.0 | -5.32 | 33.67 | -3.39 | 3.47 | 12.43 | -6.75 | -0.48 | 13.69 | -5.0 | 2.62 | 10.28 | -7.89 | 1.58 | 3.44 | -7.53 | -6.01 | 2.26 | -10.67 | -3.0 | 0.22 | 0.0 | -4.35 | 16.39 | -3.19 | 6.15 | 64.09 | 44.71 | -7.41 | 90.73 | -1.91 | -3.07 | 9.27 | 23.55 | 44.99 | 13.76 | -1.78 | -1.85 |
| 23Q1 (14) | 1.00 | -15.97 | -28.06 | 34.85 | 9.8 | -2.22 | 13.33 | -8.57 | -10.66 | 14.41 | -5.26 | -19.36 | 11.16 | -5.34 | -22.98 | 3.72 | -17.88 | -31.11 | 2.53 | -15.67 | -29.72 | 0.22 | -12.0 | -12.0 | 16.93 | -3.86 | -14.41 | 44.29 | -14.61 | -7.5 | 92.50 | -3.39 | 10.88 | 7.50 | 76.25 | -54.76 | 14.01 | 26.56 | 3.24 |
| 22Q4 (13) | 1.19 | 3.48 | -9.16 | 31.74 | -5.03 | -1.73 | 14.58 | 21.7 | -0.68 | 15.21 | -2.06 | -1.87 | 11.79 | -7.24 | -5.45 | 4.53 | -2.37 | -16.27 | 3.00 | 3.45 | -17.58 | 0.25 | 8.7 | -13.79 | 17.61 | -1.01 | 1.91 | 51.87 | -0.54 | -0.52 | 95.74 | 24.26 | 1.16 | 4.26 | -81.46 | -20.49 | 11.07 | -24.75 | -5.71 |
| 22Q3 (12) | 1.15 | 22.34 | 11.65 | 33.42 | 2.7 | -6.88 | 11.98 | -4.08 | -9.24 | 15.53 | 16.42 | -5.3 | 12.71 | 25.59 | -5.29 | 4.64 | 26.78 | 3.57 | 2.90 | 24.46 | -0.68 | 0.23 | 0.0 | 4.55 | 17.79 | 15.22 | -5.22 | 52.15 | -24.66 | 12.81 | 77.05 | -17.69 | -4.3 | 22.95 | 259.11 | 17.79 | 14.71 | 4.92 | -11.92 |
| 22Q2 (11) | 0.94 | -32.37 | 0.0 | 32.54 | -8.7 | -10.01 | 12.49 | -16.29 | -14.98 | 13.34 | -25.35 | -11.13 | 10.12 | -30.16 | -16.91 | 3.66 | -32.22 | -10.07 | 2.33 | -35.28 | -12.73 | 0.23 | -8.0 | 4.55 | 15.44 | -21.94 | -10.44 | 69.22 | 44.57 | 11.86 | 93.61 | 12.21 | -4.51 | 6.39 | -61.45 | 224.66 | 14.02 | 3.32 | -5.21 |
| 22Q1 (10) | 1.39 | 6.11 | 3.73 | 35.64 | 10.34 | -7.4 | 14.92 | 1.63 | -19.35 | 17.87 | 15.29 | -6.83 | 14.49 | 16.2 | -4.86 | 5.40 | -0.18 | -4.59 | 3.60 | -1.1 | -6.74 | 0.25 | -13.79 | 0.0 | 19.78 | 14.47 | -6.39 | 47.88 | -8.17 | 7.04 | 83.42 | -11.86 | -13.53 | 16.58 | 209.74 | 370.55 | 13.57 | 15.59 | 0.97 |
| 21Q4 (9) | 1.31 | 27.18 | -17.09 | 32.30 | -10.0 | -6.84 | 14.68 | 11.21 | -19.87 | 15.50 | -5.49 | -22.07 | 12.47 | -7.08 | -25.55 | 5.41 | 20.76 | -24.23 | 3.64 | 24.66 | -24.48 | 0.29 | 31.82 | 0.0 | 17.28 | -7.94 | -20.26 | 52.14 | 12.78 | 6.6 | 94.65 | 17.55 | 2.68 | 5.35 | -72.53 | -31.59 | 11.74 | -29.7 | -5.93 |
| 21Q3 (8) | 1.03 | 9.57 | -2.83 | 35.89 | -0.75 | -4.67 | 13.20 | -10.14 | -14.95 | 16.40 | 9.26 | -9.94 | 13.42 | 10.18 | -8.15 | 4.48 | 10.07 | -12.67 | 2.92 | 9.36 | -13.86 | 0.22 | 0.0 | -4.35 | 18.77 | 8.87 | -8.13 | 46.23 | -25.29 | -1.91 | 80.51 | -17.87 | -5.35 | 19.49 | 889.85 | 30.51 | 16.70 | 12.91 | 3.21 |
| 21Q2 (7) | 0.94 | -29.85 | 34.29 | 36.16 | -6.05 | -1.42 | 14.69 | -20.59 | 11.97 | 15.01 | -21.74 | 1.28 | 12.18 | -20.03 | 10.93 | 4.07 | -28.09 | 22.22 | 2.67 | -30.83 | 19.2 | 0.22 | -12.0 | 10.0 | 17.24 | -18.41 | 0.41 | 61.88 | 38.34 | 9.79 | 98.03 | 1.61 | 10.35 | 1.97 | -44.12 | -83.1 | 14.79 | 10.04 | -7.74 |
| 21Q1 (6) | 1.34 | -15.19 | 78.67 | 38.49 | 11.02 | -1.26 | 18.50 | 0.98 | 13.57 | 19.18 | -3.57 | 38.58 | 15.23 | -9.07 | 48.3 | 5.66 | -20.73 | 64.06 | 3.86 | -19.92 | 60.83 | 0.25 | -13.79 | 8.7 | 21.13 | -2.49 | 33.9 | 44.73 | -8.55 | 5.84 | 96.48 | 4.67 | -17.99 | 3.52 | -54.97 | 119.96 | 13.44 | 7.69 | -12.78 |
| 20Q4 (5) | 1.58 | 49.06 | -3.07 | 34.67 | -7.92 | -2.2 | 18.32 | 18.04 | 0.6 | 19.89 | 9.23 | 2.74 | 16.75 | 14.65 | -4.56 | 7.14 | 39.18 | -9.51 | 4.82 | 42.18 | -12.2 | 0.29 | 26.09 | -6.45 | 21.67 | 6.07 | 4.28 | 48.91 | 3.78 | 6.21 | 92.18 | 8.35 | -2.09 | 7.82 | -47.6 | 33.69 | 12.48 | -22.87 | 0 |
| 20Q3 (4) | 1.06 | 51.43 | 0.0 | 37.65 | 2.64 | 0.0 | 15.52 | 18.29 | 0.0 | 18.21 | 22.87 | 0.0 | 14.61 | 33.06 | 0.0 | 5.13 | 54.05 | 0.0 | 3.39 | 51.34 | 0.0 | 0.23 | 15.0 | 0.0 | 20.43 | 18.99 | 0.0 | 47.13 | -16.38 | 0.0 | 85.07 | -4.24 | 0.0 | 14.93 | 28.15 | 0.0 | 16.18 | 0.94 | 0.0 |
| 20Q2 (3) | 0.70 | -6.67 | 0.0 | 36.68 | -5.9 | 0.0 | 13.12 | -19.46 | 0.0 | 14.82 | 7.08 | 0.0 | 10.98 | 6.91 | 0.0 | 3.33 | -3.48 | 0.0 | 2.24 | -6.67 | 0.0 | 0.20 | -13.04 | 0.0 | 17.17 | 8.81 | 0.0 | 56.36 | 33.36 | 0.0 | 88.83 | -24.49 | 0.0 | 11.65 | 166.02 | 0.0 | 16.03 | 4.02 | 0.0 |
| 20Q1 (2) | 0.75 | -53.99 | 0.0 | 38.98 | 9.96 | 0.0 | 16.29 | -10.54 | 0.0 | 13.84 | -28.51 | 0.0 | 10.27 | -41.48 | 0.0 | 3.45 | -56.27 | 0.0 | 2.40 | -56.28 | 0.0 | 0.23 | -25.81 | 0.0 | 15.78 | -24.06 | 0.0 | 42.26 | -8.23 | 0.0 | 117.65 | 24.96 | 0.0 | -17.65 | -401.53 | 0.0 | 15.41 | 0 | 0.0 |
| 19Q4 (1) | 1.63 | 0.0 | 0.0 | 35.45 | 0.0 | 0.0 | 18.21 | 0.0 | 0.0 | 19.36 | 0.0 | 0.0 | 17.55 | 0.0 | 0.0 | 7.89 | 0.0 | 0.0 | 5.49 | 0.0 | 0.0 | 0.31 | 0.0 | 0.0 | 20.78 | 0.0 | 0.0 | 46.05 | 0.0 | 0.0 | 94.15 | 0.0 | 0.0 | 5.85 | 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) | 4.90 | 5.15 | 34.86 | 4.59 | 14.87 | 9.82 | 1.93 | 17.67 | 16.50 | 6.38 | 12.92 | 5.13 | 18.18 | 0.55 | 11.79 | -1.26 | 0.91 | -6.19 | 18.98 | 7.35 | 57.91 | 11.64 | 90.11 | 3.24 | 9.89 | -22.22 | 1.58 | -10.62 | 13.99 | 5.27 |
| 2022 (9) | 4.66 | 0.87 | 33.33 | -6.17 | 13.54 | -11.68 | 1.64 | 4.55 | 15.51 | -6.11 | 12.29 | -7.73 | 18.08 | -5.98 | 11.94 | -6.72 | 0.97 | 1.04 | 17.68 | -4.84 | 51.87 | -0.52 | 87.28 | -5.87 | 12.72 | 76.75 | 1.77 | -11.08 | 13.29 | -4.66 |
| 2021 (8) | 4.62 | 13.24 | 35.52 | -3.58 | 15.33 | -4.6 | 1.57 | -5.27 | 16.52 | -2.65 | 13.32 | -1.11 | 19.23 | 4.8 | 12.80 | 2.73 | 0.96 | 4.35 | 18.58 | -2.36 | 52.14 | 6.6 | 92.73 | -2.05 | 7.19 | 34.89 | 1.99 | 38.44 | 13.94 | -5.87 |
| 2020 (7) | 4.08 | 0.49 | 36.84 | 3.4 | 16.07 | 5.72 | 1.66 | 11.21 | 16.97 | 0.83 | 13.47 | -4.54 | 18.35 | -6.47 | 12.46 | -7.5 | 0.92 | -3.16 | 19.03 | 2.2 | 48.91 | 6.21 | 94.67 | 4.75 | 5.33 | -44.58 | 1.44 | 7.13 | 14.81 | 2.35 |
| 2019 (6) | 4.06 | 11.23 | 35.63 | 4.67 | 15.20 | 9.67 | 1.49 | 14.52 | 16.83 | 1.51 | 14.11 | 5.61 | 19.62 | 4.64 | 13.47 | 4.34 | 0.95 | -2.06 | 18.62 | 1.58 | 46.05 | 1.5 | 90.38 | 8.13 | 9.62 | -41.38 | 1.34 | -11.04 | 14.47 | 7.11 |
| 2018 (5) | 3.65 | 10.94 | 34.04 | 0.68 | 13.86 | 3.43 | 1.30 | -0.62 | 16.58 | 8.37 | 13.36 | 4.7 | 18.75 | 5.81 | 12.91 | 5.47 | 0.97 | 1.04 | 18.33 | 7.63 | 45.37 | 0.13 | 83.59 | -4.47 | 16.41 | 32.55 | 1.51 | 0 | 13.51 | -3.08 |
| 2017 (4) | 3.29 | 19.64 | 33.81 | 3.74 | 13.40 | 7.03 | 1.31 | -9.34 | 15.30 | 0.92 | 12.76 | 1.92 | 17.72 | 3.93 | 12.24 | 3.9 | 0.96 | 2.13 | 17.03 | 0.18 | 45.31 | 1.91 | 87.50 | 5.97 | 12.38 | -28.96 | 0.00 | 0 | 13.94 | 4.11 |
| 2016 (3) | 2.75 | 45.5 | 32.59 | 3.76 | 12.52 | 6.46 | 1.45 | -2.02 | 15.16 | 23.76 | 12.52 | 24.7 | 17.05 | 38.84 | 11.78 | 39.41 | 0.94 | 11.9 | 17.00 | 20.74 | 44.46 | -1.85 | 82.57 | -14.03 | 17.43 | 339.99 | 0.00 | 0 | 13.39 | -0.22 |
| 2015 (2) | 1.89 | -4.06 | 31.41 | 4.32 | 11.76 | 13.84 | 1.48 | -8.18 | 12.25 | -6.7 | 10.04 | -9.63 | 12.28 | -8.01 | 8.45 | -6.84 | 0.84 | 3.7 | 14.08 | -7.55 | 45.30 | -1.54 | 96.04 | 22.11 | 3.96 | -81.44 | 0.00 | 0 | 13.42 | -4.89 |
| 2014 (1) | 1.97 | 12.57 | 30.11 | 0 | 10.33 | 0 | 1.61 | -7.56 | 13.13 | 0 | 11.11 | 0 | 13.35 | 0 | 9.07 | 0 | 0.81 | 1.25 | 15.23 | 1.47 | 46.01 | -7.2 | 78.65 | 20.84 | 21.35 | -38.54 | 0.00 | 0 | 14.11 | -3.09 |
