- 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) | 0.55 | -40.22 | 19.57 | 23.78 | -25.27 | -17.34 | 8.71 | -56.77 | -41.93 | 18.84 | -10.84 | 20.38 | 13.95 | -12.65 | 21.52 | 3.08 | -40.77 | 8.83 | 1.35 | -39.73 | 9.76 | 0.09 | -30.77 | -10.0 | 26.47 | 0.68 | 16.1 | 151.43 | 1.02 | 2.67 | 46.32 | -51.48 | -51.62 | 53.86 | 1060.55 | 1165.71 | 64.40 | 7.3 | 6.01 |
| 24Q2 (19) | 0.92 | 48.39 | 33.33 | 31.82 | 5.33 | 13.76 | 20.15 | 21.17 | 21.31 | 21.13 | 12.15 | 11.27 | 15.97 | 8.34 | 8.34 | 5.20 | 45.25 | 22.64 | 2.24 | 42.68 | 25.84 | 0.13 | 30.0 | 18.18 | 26.29 | 2.3 | 4.95 | 149.90 | 9.07 | -5.48 | 95.47 | 8.27 | 9.18 | 4.64 | -60.18 | -63.04 | 60.02 | -7.1 | 11.58 |
| 24Q1 (18) | 0.62 | 12.73 | -8.82 | 30.21 | 8.83 | 30.1 | 16.63 | 43.12 | 14.45 | 18.84 | 18.42 | 16.66 | 14.74 | 21.62 | 27.07 | 3.58 | 9.15 | -13.11 | 1.57 | 9.03 | -7.1 | 0.10 | -9.09 | -23.08 | 25.70 | 15.04 | 19.42 | 137.44 | -7.64 | -4.95 | 88.18 | 20.54 | -2.01 | 11.66 | -56.89 | 16.39 | 64.61 | 2.95 | 89.97 |
| 23Q4 (17) | 0.55 | 19.57 | 71.88 | 27.76 | -3.51 | 15.57 | 11.62 | -22.53 | 15.39 | 15.91 | 1.66 | 48.14 | 12.12 | 5.57 | 89.37 | 3.28 | 15.9 | 64.82 | 1.44 | 17.07 | 73.49 | 0.11 | 10.0 | 0.0 | 22.34 | -2.02 | 31.33 | 148.81 | 0.89 | -19.66 | 73.15 | -23.6 | -21.92 | 27.04 | 535.37 | 328.27 | 62.76 | 3.31 | 68.03 |
| 23Q3 (16) | 0.46 | -33.33 | 70.37 | 28.77 | 2.86 | 36.93 | 15.00 | -9.69 | 101.34 | 15.65 | -17.59 | 69.56 | 11.48 | -22.12 | 71.6 | 2.83 | -33.25 | 65.5 | 1.23 | -30.9 | 73.24 | 0.10 | -9.09 | 11.11 | 22.80 | -8.98 | 39.02 | 147.49 | -7.0 | -17.2 | 95.74 | 9.49 | 18.6 | 4.26 | -66.11 | -77.92 | 60.75 | 12.94 | 6.71 |
| 23Q2 (15) | 0.69 | 1.47 | 60.47 | 27.97 | 20.46 | 11.88 | 16.61 | 14.32 | 36.82 | 18.99 | 17.59 | 65.56 | 14.74 | 27.07 | 52.12 | 4.24 | 2.91 | 66.93 | 1.78 | 5.33 | 66.36 | 0.11 | -15.38 | 10.0 | 25.05 | 16.4 | 40.1 | 158.59 | 9.68 | -7.46 | 87.44 | -2.83 | -17.17 | 12.56 | 25.39 | 315.18 | 53.79 | 58.16 | -6.04 |
| 23Q1 (14) | 0.68 | 112.5 | 4.62 | 23.22 | -3.33 | -8.58 | 14.53 | 44.29 | -6.26 | 16.15 | 50.37 | -0.74 | 11.60 | 81.25 | -9.16 | 4.12 | 107.04 | 11.35 | 1.69 | 103.61 | 8.33 | 0.13 | 18.18 | 8.33 | 21.52 | 26.51 | -2.54 | 144.59 | -21.94 | 2.26 | 89.99 | -3.95 | -5.56 | 10.01 | 58.63 | 112.37 | 34.01 | -8.94 | -37.56 |
| 22Q4 (13) | 0.32 | 18.52 | -64.84 | 24.02 | 14.33 | -12.3 | 10.07 | 35.17 | -45.21 | 10.74 | 16.36 | -40.83 | 6.40 | -4.33 | -46.4 | 1.99 | 16.37 | -64.46 | 0.83 | 16.9 | -61.57 | 0.11 | 22.22 | -35.29 | 17.01 | 3.72 | -23.17 | 185.22 | 3.99 | 14.34 | 93.69 | 16.05 | -7.56 | 6.31 | -67.24 | 602.14 | 37.35 | -34.39 | -12.88 |
| 22Q3 (12) | 0.27 | -37.21 | -72.45 | 21.01 | -15.96 | -14.49 | 7.45 | -38.63 | -54.93 | 9.23 | -19.53 | -46.71 | 6.69 | -30.96 | -50.81 | 1.71 | -32.68 | -73.32 | 0.71 | -33.64 | -68.72 | 0.09 | -10.0 | -43.75 | 16.40 | -8.28 | -23.22 | 178.12 | 3.94 | -3.62 | 80.73 | -23.53 | -15.45 | 19.27 | 430.26 | 326.75 | 56.93 | -0.56 | 26.74 |
| 22Q2 (11) | 0.43 | -33.85 | -35.82 | 25.00 | -1.57 | 2.21 | 12.14 | -21.68 | -12.72 | 11.47 | -29.5 | -22.4 | 9.69 | -24.12 | -19.92 | 2.54 | -31.35 | -41.2 | 1.07 | -31.41 | -33.12 | 0.10 | -16.67 | -23.08 | 17.88 | -19.02 | -10.69 | 171.37 | 21.2 | -15.43 | 105.57 | 10.79 | 12.24 | -5.84 | -223.75 | -198.23 | 57.25 | 5.1 | 16.62 |
| 22Q1 (10) | 0.65 | -28.57 | 4.84 | 25.40 | -7.27 | -11.74 | 15.50 | -15.67 | -10.35 | 16.27 | -10.36 | -10.56 | 12.77 | 6.95 | -0.23 | 3.70 | -33.93 | -5.85 | 1.56 | -27.78 | 1.3 | 0.12 | -29.41 | 9.09 | 22.08 | -0.27 | -8.8 | 141.40 | -12.71 | -16.11 | 95.28 | -5.99 | 0.31 | 4.72 | 475.06 | -5.83 | 54.47 | 27.06 | -5.24 |
| 21Q4 (9) | 0.91 | -7.14 | 9.64 | 27.39 | 11.48 | -9.75 | 18.38 | 11.19 | -7.5 | 18.15 | 4.79 | -8.98 | 11.94 | -12.21 | -20.66 | 5.60 | -12.64 | 0.54 | 2.16 | -4.85 | 4.85 | 0.17 | 6.25 | 30.77 | 22.14 | 3.65 | -12.07 | 161.99 | -12.35 | -6.56 | 101.35 | 6.15 | 1.73 | -1.26 | -127.84 | -444.49 | 42.87 | -4.56 | -21.18 |
| 21Q3 (8) | 0.98 | 46.27 | 28.95 | 24.57 | 0.45 | -21.35 | 16.53 | 18.84 | -15.36 | 17.32 | 17.19 | -13.27 | 13.60 | 12.4 | -11.69 | 6.41 | 48.38 | 16.97 | 2.27 | 41.87 | 17.62 | 0.16 | 23.08 | 33.33 | 21.36 | 6.69 | -17.81 | 184.81 | -8.8 | -4.39 | 95.48 | 1.51 | -2.37 | 4.52 | -23.98 | 105.48 | 44.92 | -8.49 | -22.23 |
| 21Q2 (7) | 0.67 | 8.06 | 45.65 | 24.46 | -15.01 | -19.49 | 13.91 | -19.55 | -16.46 | 14.78 | -18.75 | -17.29 | 12.10 | -5.47 | 8.62 | 4.32 | 9.92 | 27.81 | 1.60 | 3.9 | 30.08 | 0.13 | 18.18 | 30.0 | 20.02 | -17.31 | -19.82 | 202.64 | 20.22 | -2.69 | 94.06 | -0.98 | 0.97 | 5.94 | 18.63 | -13.24 | 49.09 | -14.6 | -17.83 |
| 21Q1 (6) | 0.62 | -25.3 | 1140.0 | 28.78 | -5.17 | 36.85 | 17.29 | -12.98 | 470.63 | 18.19 | -8.78 | 386.36 | 12.80 | -14.95 | 580.85 | 3.93 | -29.44 | 934.21 | 1.54 | -25.24 | 516.0 | 0.11 | -15.38 | 57.14 | 24.21 | -3.85 | 75.43 | 168.56 | -2.77 | -14.69 | 94.99 | -4.66 | 18.02 | 5.01 | 1272.08 | -74.34 | 57.48 | 5.68 | -15.36 |
| 20Q4 (5) | 0.83 | 9.21 | 137.14 | 30.35 | -2.85 | -5.95 | 19.87 | 1.74 | 84.84 | 19.94 | -0.15 | 82.77 | 15.05 | -2.27 | 80.67 | 5.57 | 1.64 | 133.05 | 2.06 | 6.74 | 119.15 | 0.13 | 8.33 | 30.0 | 25.18 | -3.12 | 42.66 | 173.37 | -10.31 | -7.89 | 99.64 | 1.87 | 1.11 | 0.36 | -83.39 | -75.04 | 54.39 | -5.83 | -6.13 |
| 20Q3 (4) | 0.76 | 65.22 | 0.0 | 31.24 | 2.83 | 0.0 | 19.53 | 17.3 | 0.0 | 19.97 | 11.75 | 0.0 | 15.40 | 38.24 | 0.0 | 5.48 | 62.13 | 0.0 | 1.93 | 56.91 | 0.0 | 0.12 | 20.0 | 0.0 | 25.99 | 4.08 | 0.0 | 193.29 | -7.18 | 0.0 | 97.80 | 4.99 | 0.0 | 2.20 | -67.9 | 0.0 | 57.76 | -3.31 | 0.0 |
| 20Q2 (3) | 0.46 | 820.0 | 0.0 | 30.38 | 44.46 | 0.0 | 16.65 | 449.5 | 0.0 | 17.87 | 377.81 | 0.0 | 11.14 | 492.55 | 0.0 | 3.38 | 789.47 | 0.0 | 1.23 | 392.0 | 0.0 | 0.10 | 42.86 | 0.0 | 24.97 | 80.94 | 0.0 | 208.24 | 5.39 | 0.0 | 93.15 | 15.74 | 0.0 | 6.85 | -64.91 | 0.0 | 59.74 | -12.03 | 0.0 |
| 20Q1 (2) | 0.05 | -85.71 | 0.0 | 21.03 | -34.83 | 0.0 | 3.03 | -71.81 | 0.0 | 3.74 | -65.72 | 0.0 | 1.88 | -77.43 | 0.0 | 0.38 | -84.1 | 0.0 | 0.25 | -73.4 | 0.0 | 0.07 | -30.0 | 0.0 | 13.80 | -21.81 | 0.0 | 197.59 | 4.97 | 0.0 | 80.49 | -18.32 | 0.0 | 19.51 | 1234.63 | 0.0 | 67.91 | 17.21 | 0.0 |
| 19Q4 (1) | 0.35 | 0.0 | 0.0 | 32.27 | 0.0 | 0.0 | 10.75 | 0.0 | 0.0 | 10.91 | 0.0 | 0.0 | 8.33 | 0.0 | 0.0 | 2.39 | 0.0 | 0.0 | 0.94 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 17.65 | 0.0 | 0.0 | 188.23 | 0.0 | 0.0 | 98.54 | 0.0 | 0.0 | 1.46 | 0.0 | 0.0 | 57.94 | 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) | 2.39 | 43.98 | 26.64 | 11.09 | 14.45 | 25.76 | 4.74 | -4.94 | 16.68 | 37.74 | 12.47 | 38.4 | 14.47 | 43.41 | 5.86 | 43.98 | 0.44 | 7.32 | 22.86 | 23.63 | 148.81 | -19.66 | 86.58 | -8.75 | 13.42 | 162.36 | 0.15 | 19.2 | 51.38 | 0.61 |
| 2022 (9) | 1.66 | -47.96 | 23.98 | -8.51 | 11.49 | -31.07 | 4.99 | 34.57 | 12.11 | -29.51 | 9.01 | -28.55 | 10.09 | -48.44 | 4.07 | -47.07 | 0.41 | -29.31 | 18.49 | -15.42 | 185.22 | 14.34 | 94.89 | -2.18 | 5.11 | 70.25 | 0.13 | -29.14 | 51.07 | 7.22 |
| 2021 (8) | 3.19 | 51.18 | 26.21 | -8.9 | 16.67 | 2.96 | 3.71 | -28.76 | 17.18 | 2.63 | 12.61 | 5.0 | 19.57 | 41.2 | 7.69 | 43.47 | 0.58 | 41.46 | 21.86 | -6.74 | 161.99 | -6.56 | 97.00 | 0.3 | 3.00 | -8.75 | 0.18 | -38.88 | 47.63 | -19.09 |
| 2020 (7) | 2.11 | 23.39 | 28.77 | -8.58 | 16.19 | 2.15 | 5.21 | -1.29 | 16.74 | 1.21 | 12.01 | 17.06 | 13.86 | 19.79 | 5.36 | 14.04 | 0.41 | 0.0 | 23.44 | -0.38 | 173.37 | -7.89 | 96.71 | 0.88 | 3.29 | -20.33 | 0.30 | -2.65 | 58.87 | 7.45 |
| 2019 (6) | 1.71 | -16.18 | 31.47 | -3.85 | 15.85 | -22.68 | 5.27 | 444.42 | 16.54 | -24.3 | 10.26 | -11.17 | 11.57 | -12.75 | 4.70 | -17.11 | 0.41 | -10.87 | 23.53 | -1.71 | 188.23 | 17.13 | 95.87 | 2.21 | 4.13 | -33.41 | 0.31 | -23.18 | 54.79 | 20.82 |
| 2018 (5) | 2.04 | -52.56 | 32.73 | 1.02 | 20.50 | -18.23 | 0.97 | 38.01 | 21.85 | -15.96 | 11.55 | -27.27 | 13.26 | -51.18 | 5.67 | -50.18 | 0.46 | -34.29 | 23.94 | -12.6 | 160.70 | 18.3 | 93.79 | -2.72 | 6.21 | 73.09 | 0.40 | 0 | 45.35 | 58.4 |
| 2017 (4) | 4.30 | 194.52 | 32.40 | 45.62 | 25.07 | 253.6 | 0.70 | -63.51 | 26.00 | 81.31 | 15.88 | 30.38 | 27.16 | 174.9 | 11.38 | 161.01 | 0.70 | 105.88 | 27.39 | 54.92 | 135.84 | -11.93 | 96.41 | 94.98 | 3.59 | -92.91 | 0.00 | 0 | 28.63 | -54.58 |
| 2016 (3) | 1.46 | 64.04 | 22.25 | -6.98 | 7.09 | 5.35 | 1.92 | -5.41 | 14.34 | 37.62 | 12.18 | 56.35 | 9.88 | 58.59 | 4.36 | 30.93 | 0.34 | -12.82 | 17.68 | 27.01 | 154.24 | 25.58 | 49.45 | -23.54 | 50.55 | 43.08 | 0.00 | 0 | 63.03 | 2.21 |
| 2015 (2) | 0.89 | -49.14 | 23.92 | -13.18 | 6.73 | -48.78 | 2.03 | 39.22 | 10.42 | -32.95 | 7.79 | -37.53 | 6.23 | -46.25 | 3.33 | -51.03 | 0.39 | -25.0 | 13.92 | -23.09 | 122.82 | 40.99 | 64.67 | -23.49 | 35.33 | 129.41 | 0.00 | 0 | 61.67 | 7.61 |
| 2014 (1) | 1.75 | -64.43 | 27.55 | 0 | 13.14 | 0 | 1.46 | 36.93 | 15.54 | 0 | 12.47 | 0 | 11.59 | 0 | 6.80 | 0 | 0.52 | -38.82 | 18.10 | -33.7 | 87.11 | 20.28 | 84.53 | -5.76 | 15.40 | 49.36 | 0.00 | 0 | 57.31 | 4.92 |
