- 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) | 0.75 | -12.79 | 11.94 | 29.04 | -3.04 | -6.68 | 20.57 | -8.78 | -10.45 | 30.86 | -4.66 | 7.79 | 26.33 | -4.18 | 11.24 | 3.35 | -12.3 | 4.36 | 1.57 | -13.26 | 6.8 | 0.06 | -14.29 | 0.0 | 49.41 | 1.15 | 7.09 | 109.05 | -7.02 | -3.3 | 66.46 | -4.24 | -16.93 | 33.54 | 11.61 | 67.72 | 13.92 | 12.71 | 2.88 |
| 24Q2 (19) | 0.86 | 26.47 | 8.86 | 29.95 | 7.89 | -3.67 | 22.55 | 1.62 | -5.69 | 32.37 | 43.1 | 6.17 | 27.48 | 54.99 | 7.98 | 3.82 | 24.84 | -1.55 | 1.81 | 23.97 | 2.84 | 0.07 | -12.5 | 0.0 | 48.85 | 37.07 | 6.47 | 117.28 | 10.42 | -7.35 | 69.40 | -29.25 | -11.29 | 30.05 | 1472.86 | 38.09 | 12.35 | 28.65 | 6.28 |
| 24Q1 (18) | 0.68 | 58.14 | -5.56 | 27.76 | 20.75 | -3.91 | 22.19 | 50.75 | -1.81 | 22.62 | 34.56 | -8.09 | 17.73 | 30.85 | -9.68 | 3.06 | 53.77 | -14.04 | 1.46 | 55.32 | -12.05 | 0.08 | 14.29 | 0.0 | 35.64 | 8.82 | -5.06 | 106.21 | -5.78 | -6.29 | 98.09 | 12.1 | 6.65 | 1.91 | -84.71 | -76.19 | 9.60 | -21.89 | -5.79 |
| 23Q4 (17) | 0.43 | -35.82 | 7.5 | 22.99 | -26.12 | -0.22 | 14.72 | -35.92 | -3.73 | 16.81 | -41.29 | 0.72 | 13.55 | -42.75 | 0.82 | 1.99 | -38.01 | -3.86 | 0.94 | -36.05 | -2.08 | 0.07 | 16.67 | 0.0 | 32.75 | -29.02 | 0.49 | 112.72 | -0.04 | -3.14 | 87.50 | 9.37 | -3.96 | 12.50 | -37.5 | 40.62 | 12.29 | -9.16 | 5.58 |
| 23Q3 (16) | 0.67 | -15.19 | -19.28 | 31.12 | 0.1 | 1.63 | 22.97 | -3.93 | 2.59 | 28.63 | -6.1 | -19.22 | 23.67 | -6.99 | -22.75 | 3.21 | -17.27 | -26.38 | 1.47 | -16.48 | -26.13 | 0.06 | -14.29 | 0.0 | 46.14 | 0.57 | -12.73 | 112.77 | -10.92 | -1.66 | 80.00 | 2.26 | 26.97 | 20.00 | -8.11 | -45.94 | 13.53 | 16.44 | -1.96 |
| 23Q2 (15) | 0.79 | 9.72 | 33.9 | 31.09 | 7.62 | 0.88 | 23.91 | 5.8 | -1.36 | 30.49 | 23.89 | 27.79 | 25.45 | 29.65 | 34.8 | 3.88 | 8.99 | 29.77 | 1.76 | 6.02 | 25.71 | 0.07 | -12.5 | 0.0 | 45.88 | 22.22 | 18.49 | 126.59 | 11.69 | 1.6 | 78.24 | -14.94 | -23.48 | 21.76 | 171.22 | 1558.24 | 11.62 | 14.03 | 5.83 |
| 23Q1 (14) | 0.72 | 80.0 | 4.35 | 28.89 | 25.39 | 0.63 | 22.60 | 47.81 | -1.78 | 24.61 | 47.45 | 1.78 | 19.63 | 46.06 | 2.24 | 3.56 | 71.98 | 5.01 | 1.66 | 72.92 | 0.61 | 0.08 | 14.29 | -11.11 | 37.54 | 15.19 | 2.32 | 113.34 | -2.61 | 8.74 | 91.98 | 0.95 | -3.7 | 8.02 | -9.72 | 56.48 | 10.19 | -12.46 | 7.26 |
| 22Q4 (13) | 0.40 | -51.81 | -4.76 | 23.04 | -24.76 | 2.35 | 15.29 | -31.71 | 0.26 | 16.69 | -52.91 | -4.41 | 13.44 | -56.14 | -4.95 | 2.07 | -52.52 | -3.72 | 0.96 | -51.76 | -7.69 | 0.07 | 16.67 | 0.0 | 32.59 | -38.36 | 0.0 | 116.38 | 1.49 | 9.68 | 91.11 | 44.61 | 4.44 | 8.89 | -75.97 | -30.37 | 11.64 | -15.65 | 1.31 |
| 22Q3 (12) | 0.83 | 40.68 | 6.41 | 30.62 | -0.65 | -5.17 | 22.39 | -7.63 | -7.13 | 35.44 | 48.53 | 2.93 | 30.64 | 62.29 | 4.15 | 4.36 | 45.82 | 5.06 | 1.99 | 42.14 | 2.58 | 0.06 | -14.29 | -14.29 | 52.87 | 36.54 | 3.14 | 114.67 | -7.97 | 5.58 | 63.01 | -38.37 | -10.15 | 36.99 | 2578.61 | 23.82 | 13.80 | 25.68 | 7.14 |
| 22Q2 (11) | 0.59 | -14.49 | -1.67 | 30.82 | 7.35 | -1.5 | 24.24 | 5.35 | 1.81 | 23.86 | -1.32 | -8.2 | 18.88 | -1.67 | -10.44 | 2.99 | -11.8 | -6.56 | 1.40 | -15.15 | -7.89 | 0.07 | -22.22 | 0.0 | 38.72 | 5.53 | -6.22 | 124.60 | 19.54 | 4.0 | 102.24 | 7.04 | 11.46 | -1.49 | -129.1 | -118.05 | 10.98 | 15.58 | -1.79 |
| 22Q1 (10) | 0.69 | 64.29 | -1.43 | 28.71 | 27.54 | -4.68 | 23.01 | 50.89 | -4.76 | 24.18 | 38.49 | -4.46 | 19.20 | 35.79 | -4.95 | 3.39 | 57.67 | -8.63 | 1.65 | 58.65 | -8.33 | 0.09 | 28.57 | 0.0 | 36.69 | 12.58 | -2.68 | 104.23 | -1.77 | 1.04 | 95.51 | 9.49 | 0.0 | 5.13 | -59.83 | 14.29 | 9.50 | -17.32 | -2.46 |
| 21Q4 (9) | 0.42 | -46.15 | 31.25 | 22.51 | -30.29 | 4.41 | 15.25 | -36.75 | 7.02 | 17.46 | -49.29 | 18.61 | 14.14 | -51.94 | 19.53 | 2.15 | -48.19 | 18.78 | 1.04 | -46.39 | 20.93 | 0.07 | 0.0 | 0.0 | 32.59 | -36.42 | 6.75 | 106.11 | -2.3 | -2.79 | 87.23 | 24.4 | -10.27 | 12.77 | -57.27 | 359.57 | 11.49 | -10.79 | -0.69 |
| 21Q3 (8) | 0.78 | 30.0 | -9.3 | 32.29 | 3.2 | -4.13 | 24.11 | 1.26 | -1.83 | 34.43 | 32.47 | -9.28 | 29.42 | 39.56 | -10.41 | 4.15 | 29.69 | -17.98 | 1.94 | 27.63 | -17.09 | 0.07 | 0.0 | 0.0 | 51.26 | 24.15 | -5.14 | 108.61 | -9.35 | -2.83 | 70.12 | -23.56 | 8.54 | 29.88 | 261.25 | -15.58 | 12.88 | 15.21 | -5.15 |
| 21Q2 (7) | 0.60 | -14.29 | -3.23 | 31.29 | 3.88 | 6.97 | 23.81 | -1.45 | 6.87 | 25.99 | 2.69 | 5.14 | 21.08 | 4.36 | 4.51 | 3.20 | -13.75 | -13.28 | 1.52 | -15.56 | -12.64 | 0.07 | -22.22 | -22.22 | 41.29 | 9.52 | 8.6 | 119.81 | 16.14 | -0.74 | 91.73 | -3.96 | 1.35 | 8.27 | 84.32 | -19.07 | 11.18 | 14.78 | 1.64 |
| 21Q1 (6) | 0.70 | 118.75 | 32.08 | 30.12 | 39.7 | 24.41 | 24.16 | 69.54 | 26.23 | 25.31 | 71.94 | 40.61 | 20.20 | 70.75 | 44.6 | 3.71 | 104.97 | 19.29 | 1.80 | 109.3 | 18.42 | 0.09 | 28.57 | -18.18 | 37.70 | 23.49 | 33.12 | 103.16 | -5.5 | -2.0 | 95.51 | -1.76 | -10.32 | 4.49 | 61.54 | 168.99 | 9.74 | -15.82 | 10.68 |
| 20Q4 (5) | 0.32 | -62.79 | 6.67 | 21.56 | -35.99 | 18.72 | 14.25 | -41.98 | 29.19 | 14.72 | -61.21 | 24.22 | 11.83 | -63.98 | 24.79 | 1.81 | -64.23 | 2.84 | 0.86 | -63.25 | -1.15 | 0.07 | 0.0 | -22.22 | 30.53 | -43.5 | 24.77 | 109.16 | -2.34 | 5.41 | 97.22 | 50.48 | 5.06 | 2.78 | -92.15 | -62.78 | 11.57 | -14.8 | 0 |
| 20Q3 (4) | 0.86 | 38.71 | 0.0 | 33.68 | 15.15 | 0.0 | 24.56 | 10.23 | 0.0 | 37.95 | 53.52 | 0.0 | 32.84 | 62.82 | 0.0 | 5.06 | 37.13 | 0.0 | 2.34 | 34.48 | 0.0 | 0.07 | -22.22 | 0.0 | 54.04 | 42.14 | 0.0 | 111.77 | -7.4 | 0.0 | 64.61 | -28.62 | 0.0 | 35.39 | 246.35 | 0.0 | 13.58 | 23.45 | 0.0 |
| 20Q2 (3) | 0.62 | 16.98 | 0.0 | 29.25 | 20.82 | 0.0 | 22.28 | 16.41 | 0.0 | 24.72 | 37.33 | 0.0 | 20.17 | 44.38 | 0.0 | 3.69 | 18.65 | 0.0 | 1.74 | 14.47 | 0.0 | 0.09 | -18.18 | 0.0 | 38.02 | 34.25 | 0.0 | 120.70 | 14.66 | 0.0 | 90.51 | -15.02 | 0.0 | 10.22 | 257.12 | 0.0 | 11.00 | 25.0 | 0.0 |
| 20Q1 (2) | 0.53 | 76.67 | 0.0 | 24.21 | 33.31 | 0.0 | 19.14 | 73.53 | 0.0 | 18.00 | 51.9 | 0.0 | 13.97 | 47.36 | 0.0 | 3.11 | 76.7 | 0.0 | 1.52 | 74.71 | 0.0 | 0.11 | 22.22 | 0.0 | 28.32 | 15.73 | 0.0 | 105.27 | 1.65 | 0.0 | 106.50 | 15.09 | 0.0 | -6.50 | -187.15 | 0.0 | 8.80 | 0 | 0.0 |
| 19Q4 (1) | 0.30 | 0.0 | 0.0 | 18.16 | 0.0 | 0.0 | 11.03 | 0.0 | 0.0 | 11.85 | 0.0 | 0.0 | 9.48 | 0.0 | 0.0 | 1.76 | 0.0 | 0.0 | 0.87 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 24.47 | 0.0 | 0.0 | 103.56 | 0.0 | 0.0 | 92.54 | 0.0 | 0.0 | 7.46 | 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) | 2.61 | 3.57 | 28.45 | 0.57 | 21.05 | -1.27 | 15.29 | 2.1 | 24.99 | 0.97 | 20.43 | 0.99 | 12.58 | -0.87 | 5.87 | -2.33 | 0.29 | -3.33 | 40.28 | 1.36 | 112.72 | -3.14 | 84.27 | -2.13 | 15.73 | 13.2 | 0.00 | 0 | 11.80 | 4.15 |
| 2022 (9) | 2.52 | 0.8 | 28.29 | -2.35 | 21.32 | -2.34 | 14.98 | 1.83 | 24.75 | -3.06 | 20.23 | -3.39 | 12.69 | -2.68 | 6.01 | -4.3 | 0.30 | 0.0 | 39.74 | -1.37 | 116.38 | 9.68 | 86.10 | 0.64 | 13.90 | -3.76 | 0.00 | 0 | 11.33 | 0.98 |
| 2021 (8) | 2.50 | 6.84 | 28.97 | 7.62 | 21.83 | 9.1 | 14.71 | 9.2 | 25.53 | 9.85 | 20.94 | 9.63 | 13.04 | -1.14 | 6.28 | -1.72 | 0.30 | -9.09 | 40.29 | 9.72 | 106.11 | -2.79 | 85.56 | -0.64 | 14.44 | 3.94 | 0.00 | 0 | 11.22 | 2.09 |
| 2020 (7) | 2.34 | 15.27 | 26.92 | 20.07 | 20.01 | 25.61 | 13.47 | 17.25 | 23.24 | 25.55 | 19.10 | 26.16 | 13.19 | 9.1 | 6.39 | 6.68 | 0.33 | -17.5 | 36.72 | 22.4 | 109.16 | 5.41 | 86.11 | 0.04 | 13.89 | -0.27 | 0.00 | 0 | 10.99 | 5.77 |
| 2019 (6) | 2.03 | 11.54 | 22.42 | 1.68 | 15.93 | 5.71 | 11.49 | 2.52 | 18.51 | 6.07 | 15.14 | 5.87 | 12.09 | 7.66 | 5.99 | 5.46 | 0.40 | 0.0 | 30.00 | 4.82 | 103.56 | 3.63 | 86.07 | -0.17 | 13.93 | 2.95 | 0.00 | 0 | 10.39 | -5.8 |
| 2018 (5) | 1.82 | -9.9 | 22.05 | -7.97 | 15.07 | -8.5 | 11.20 | 1.16 | 17.45 | -11.15 | 14.30 | -14.42 | 11.23 | -11.99 | 5.68 | -13.68 | 0.40 | 2.56 | 28.62 | -6.87 | 99.93 | 4.56 | 86.22 | 2.88 | 13.53 | -16.44 | 0.02 | 0 | 11.03 | -5.73 |
| 2017 (4) | 2.02 | 18.82 | 23.96 | -6.37 | 16.47 | -2.14 | 11.08 | 2.59 | 19.64 | 5.53 | 16.71 | 8.09 | 12.76 | 15.06 | 6.58 | 12.67 | 0.39 | 2.63 | 30.73 | 4.52 | 95.57 | 3.54 | 83.80 | -7.36 | 16.20 | 69.84 | 0.00 | 0 | 11.70 | -8.88 |
| 2016 (3) | 1.70 | -7.61 | 25.59 | 14.55 | 16.83 | 13.41 | 10.80 | 30.42 | 18.61 | 9.73 | 15.46 | 8.19 | 11.09 | -7.58 | 5.84 | -9.32 | 0.38 | -15.56 | 29.40 | 16.53 | 92.30 | 5.58 | 90.46 | 3.27 | 9.54 | -23.1 | 0.00 | 0 | 12.84 | 13.23 |
| 2015 (2) | 1.84 | 15.0 | 22.34 | 31.57 | 14.84 | 34.91 | 8.28 | 39.76 | 16.96 | 46.84 | 14.29 | 48.54 | 12.00 | 15.94 | 6.44 | 8.05 | 0.45 | -27.42 | 25.23 | 44.34 | 87.42 | 2.11 | 87.60 | -7.79 | 12.40 | 164.56 | 0.00 | 0 | 11.34 | 25.72 |
| 2014 (1) | 1.60 | 19.4 | 16.98 | 0 | 11.00 | 0 | 5.92 | 9.21 | 11.55 | 0 | 9.62 | 0 | 10.35 | 0 | 5.96 | 0 | 0.62 | -6.06 | 17.48 | 14.32 | 85.61 | 38.24 | 95.00 | 15.1 | 4.69 | -73.15 | 0.00 | 0 | 9.02 | -13.77 |
