- 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) | 2.05 | 2.5 | -41.43 | 41.10 | 0.86 | -5.71 | 25.20 | -0.59 | -13.7 | 24.93 | -5.1 | -21.31 | 17.43 | 3.44 | -26.02 | 4.41 | 5.5 | -45.22 | 3.25 | 6.21 | -41.65 | 0.19 | 5.56 | -20.83 | 30.28 | -2.64 | -14.8 | 27.40 | -39.31 | -29.85 | 100.82 | 4.45 | 9.47 | -1.22 | -135.24 | -115.48 | 23.74 | -2.14 | -2.47 |
| 24Q2 (19) | 2.00 | -11.89 | -40.65 | 40.75 | 2.52 | -0.68 | 25.35 | 3.13 | -10.33 | 26.27 | -6.94 | -10.77 | 16.85 | -14.77 | -22.56 | 4.18 | -9.91 | -46.68 | 3.06 | -13.56 | -43.54 | 0.18 | 0.0 | -28.0 | 31.10 | -6.21 | -6.04 | 45.15 | 53.52 | -12.65 | 96.53 | 10.9 | 0.49 | 3.47 | -73.19 | -11.97 | 24.26 | -1.78 | 9.18 |
| 24Q1 (18) | 2.27 | -3.81 | -10.63 | 39.75 | -2.19 | 0.13 | 24.58 | -2.69 | -5.79 | 28.23 | 20.44 | 9.04 | 19.77 | 13.56 | 5.55 | 4.64 | -8.48 | -21.22 | 3.54 | -5.35 | -13.66 | 0.18 | -14.29 | -18.18 | 33.16 | 21.55 | 10.09 | 29.41 | -12.16 | -25.6 | 87.04 | -19.07 | -13.85 | 12.96 | 263.58 | 1992.59 | 24.70 | 1.81 | 1.52 |
| 23Q4 (17) | 2.36 | -32.57 | 9.77 | 40.64 | -6.77 | 11.71 | 25.26 | -13.49 | 18.98 | 23.44 | -26.01 | 9.94 | 17.41 | -26.1 | 14.24 | 5.07 | -37.02 | -3.24 | 3.74 | -32.85 | 6.25 | 0.21 | -12.5 | -8.7 | 27.28 | -23.24 | 10.13 | 33.48 | -14.29 | -33.78 | 107.55 | 16.78 | 7.98 | -7.92 | -200.21 | -2081.13 | 24.26 | -0.33 | 1.42 |
| 23Q3 (16) | 3.50 | 3.86 | 40.0 | 43.59 | 6.24 | 18.1 | 29.20 | 3.29 | 27.29 | 31.68 | 7.61 | 19.68 | 23.56 | 8.27 | 23.09 | 8.05 | 2.68 | 24.61 | 5.57 | 2.77 | 31.68 | 0.24 | -4.0 | 9.09 | 35.54 | 7.37 | 15.65 | 39.06 | -24.43 | -22.91 | 92.09 | -4.12 | 6.52 | 7.91 | 100.34 | -40.06 | 24.34 | 9.54 | 0.33 |
| 23Q2 (15) | 3.37 | 32.68 | 126.17 | 41.03 | 3.35 | 24.94 | 28.27 | 8.36 | 56.79 | 29.44 | 13.71 | 53.17 | 21.76 | 16.18 | 66.74 | 7.84 | 33.11 | 104.17 | 5.42 | 32.2 | 107.66 | 0.25 | 13.64 | 25.0 | 33.10 | 9.89 | 38.32 | 51.69 | 30.76 | -8.93 | 96.05 | -4.92 | 2.72 | 3.95 | 676.32 | -33.61 | 22.22 | -8.67 | -21.57 |
| 23Q1 (14) | 2.54 | 18.14 | 52.1 | 39.70 | 9.13 | 20.38 | 26.09 | 22.89 | 54.01 | 25.89 | 21.44 | 31.42 | 18.73 | 22.9 | 26.38 | 5.89 | 12.4 | 39.9 | 4.10 | 16.48 | 40.89 | 0.22 | -4.35 | 10.0 | 30.12 | 21.6 | 23.65 | 39.53 | -21.82 | -1.37 | 101.03 | 1.43 | 17.44 | -0.68 | -271.23 | -104.9 | 24.33 | 1.71 | 5.97 |
| 22Q4 (13) | 2.15 | -14.0 | 64.12 | 36.38 | -1.44 | 9.94 | 21.23 | -7.45 | 25.32 | 21.32 | -19.46 | 39.35 | 15.24 | -20.38 | 44.59 | 5.24 | -18.89 | 50.57 | 3.52 | -16.78 | 50.43 | 0.23 | 4.55 | 4.55 | 24.77 | -19.39 | 33.17 | 50.56 | -0.22 | -0.45 | 99.60 | 15.2 | -9.97 | 0.40 | -96.97 | 103.76 | 23.92 | -1.4 | 0.34 |
| 22Q3 (12) | 2.50 | 67.79 | 41.24 | 36.91 | 12.39 | 2.93 | 22.94 | 27.23 | 8.11 | 26.47 | 37.72 | 22.77 | 19.14 | 46.67 | 24.29 | 6.46 | 68.23 | 38.63 | 4.23 | 62.07 | 30.96 | 0.22 | 10.0 | 4.76 | 30.73 | 28.42 | 17.56 | 50.67 | -10.73 | 0.8 | 86.46 | -7.54 | -11.85 | 13.19 | 121.91 | 819.21 | 24.26 | -14.37 | -3.96 |
| 22Q2 (11) | 1.49 | -10.78 | -21.99 | 32.84 | -0.42 | -12.19 | 18.03 | 6.43 | -20.75 | 19.22 | -2.44 | -15.26 | 13.05 | -11.94 | -20.13 | 3.84 | -8.79 | -22.27 | 2.61 | -10.31 | -26.27 | 0.20 | 0.0 | -9.09 | 23.93 | -1.77 | -11.7 | 56.76 | 41.62 | 40.46 | 93.51 | 8.71 | -6.49 | 5.95 | -57.46 | 1420.0 | 28.33 | 23.39 | 16.39 |
| 22Q1 (10) | 1.67 | 27.48 | 11.33 | 32.98 | -0.33 | -7.49 | 16.94 | 0.0 | -20.62 | 19.70 | 28.76 | -5.7 | 14.82 | 40.61 | 2.7 | 4.21 | 20.98 | 3.69 | 2.91 | 24.36 | 1.75 | 0.20 | -9.09 | 0.0 | 24.36 | 30.97 | -5.29 | 40.08 | -21.09 | -2.36 | 86.02 | -22.24 | -15.83 | 13.98 | 231.56 | 736.02 | 22.96 | -3.69 | -10.1 |
| 21Q4 (9) | 1.31 | -25.99 | -2.96 | 33.09 | -7.72 | -5.0 | 16.94 | -20.17 | -11.08 | 15.30 | -29.04 | -22.81 | 10.54 | -31.56 | -23.51 | 3.48 | -25.32 | -8.66 | 2.34 | -27.55 | -11.7 | 0.22 | 4.76 | 15.79 | 18.60 | -28.84 | -25.33 | 50.79 | 1.03 | 14.31 | 110.62 | 12.78 | 14.85 | -10.62 | -840.21 | -388.65 | 23.84 | -5.62 | -6.4 |
| 21Q3 (8) | 1.77 | -7.33 | 37.21 | 35.86 | -4.12 | 3.22 | 21.22 | -6.73 | 12.16 | 21.56 | -4.94 | 2.47 | 15.40 | -5.75 | 3.49 | 4.66 | -5.67 | 22.31 | 3.23 | -8.76 | 24.71 | 0.21 | -4.55 | 23.53 | 26.14 | -3.54 | -2.28 | 50.27 | 24.4 | 7.6 | 98.09 | -1.91 | 8.75 | 1.44 | 418.66 | -85.36 | 25.26 | 3.78 | -4.35 |
| 21Q2 (7) | 1.91 | 27.33 | 37.41 | 37.40 | 4.91 | 11.91 | 22.75 | 6.61 | 30.67 | 22.68 | 8.57 | 4.71 | 16.34 | 13.24 | 0.31 | 4.94 | 21.67 | 23.19 | 3.54 | 23.78 | 25.53 | 0.22 | 10.0 | 29.41 | 27.10 | 5.37 | -0.99 | 40.41 | -1.56 | -20.59 | 100.00 | -2.15 | 24.0 | -0.45 | 79.5 | -102.33 | 24.34 | -4.7 | 0 |
| 21Q1 (6) | 1.50 | 11.11 | 145.9 | 35.65 | 2.35 | 28.33 | 21.34 | 12.02 | 111.29 | 20.89 | 5.4 | 88.71 | 14.43 | 4.72 | 73.86 | 4.06 | 6.56 | 143.11 | 2.86 | 7.92 | 132.52 | 0.20 | 5.26 | 42.86 | 25.72 | 3.25 | 45.64 | 41.05 | -7.61 | 11.7 | 102.20 | 6.1 | 12.25 | -2.20 | -159.71 | -124.54 | 25.54 | 0.27 | -14.98 |
| 20Q4 (5) | 1.35 | 4.65 | 27.36 | 34.83 | 0.26 | 8.88 | 19.05 | 0.69 | 17.16 | 19.82 | -5.8 | 21.6 | 13.78 | -7.39 | 18.49 | 3.81 | 0.0 | 27.0 | 2.65 | 2.32 | 29.27 | 0.19 | 11.76 | 5.56 | 24.91 | -6.88 | 17.5 | 44.43 | -4.9 | 8.52 | 96.32 | 6.79 | -2.9 | 3.68 | -62.45 | 0 | 25.47 | -3.56 | 0 |
| 20Q3 (4) | 1.29 | -7.19 | 0.0 | 34.74 | 3.95 | 0.0 | 18.92 | 8.67 | 0.0 | 21.04 | -2.86 | 0.0 | 14.88 | -8.66 | 0.0 | 3.81 | -4.99 | 0.0 | 2.59 | -8.16 | 0.0 | 0.17 | 0.0 | 0.0 | 26.75 | -2.27 | 0.0 | 46.72 | -8.19 | 0.0 | 90.20 | 11.84 | 0.0 | 9.80 | -49.35 | 0.0 | 26.41 | 0 | 0.0 |
| 20Q2 (3) | 1.39 | 127.87 | 0.0 | 33.42 | 20.3 | 0.0 | 17.41 | 72.38 | 0.0 | 21.66 | 95.66 | 0.0 | 16.29 | 96.27 | 0.0 | 4.01 | 140.12 | 0.0 | 2.82 | 129.27 | 0.0 | 0.17 | 21.43 | 0.0 | 27.37 | 54.98 | 0.0 | 50.89 | 38.48 | 0.0 | 80.65 | -11.42 | 0.0 | 19.35 | 116.13 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.61 | -42.45 | 0.0 | 27.78 | -13.16 | 0.0 | 10.10 | -37.88 | 0.0 | 11.07 | -32.09 | 0.0 | 8.30 | -28.63 | 0.0 | 1.67 | -44.33 | 0.0 | 1.23 | -40.0 | 0.0 | 0.14 | -22.22 | 0.0 | 17.66 | -16.7 | 0.0 | 36.75 | -10.23 | 0.0 | 91.04 | -8.22 | 0.0 | 8.96 | 0 | 0.0 | 30.04 | 0 | 0.0 |
| 19Q4 (1) | 1.06 | 0.0 | 0.0 | 31.99 | 0.0 | 0.0 | 16.26 | 0.0 | 0.0 | 16.30 | 0.0 | 0.0 | 11.63 | 0.0 | 0.0 | 3.00 | 0.0 | 0.0 | 2.05 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 21.20 | 0.0 | 0.0 | 40.94 | 0.0 | 0.0 | 99.20 | 0.0 | 0.0 | 0.00 | 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) | 11.77 | 50.51 | 41.29 | 18.21 | 27.29 | 36.72 | 3.45 | -9.78 | 27.76 | 27.22 | 20.48 | 30.78 | 26.33 | 35.58 | 18.70 | 44.07 | 0.91 | 10.98 | 31.65 | 21.64 | 33.48 | -33.78 | 98.27 | 7.37 | 1.73 | -79.59 | 0.40 | 38.76 | 23.75 | -4.27 |
| 2022 (9) | 7.82 | 20.49 | 34.93 | -1.47 | 19.96 | -2.54 | 3.82 | -4.24 | 21.82 | 9.1 | 15.66 | 10.99 | 19.42 | 11.8 | 12.98 | 9.54 | 0.82 | -1.2 | 26.02 | 7.3 | 50.56 | -0.45 | 91.52 | -10.57 | 8.48 | 0 | 0.29 | 364.35 | 24.81 | 0.4 |
| 2021 (8) | 6.49 | 39.87 | 35.45 | 7.52 | 20.48 | 22.49 | 3.99 | -21.44 | 20.00 | 6.72 | 14.11 | 4.29 | 17.37 | 34.76 | 11.85 | 29.79 | 0.83 | 23.88 | 24.25 | -0.82 | 50.79 | 14.31 | 102.33 | 14.67 | -2.33 | 0 | 0.06 | -81.99 | 24.71 | -9.22 |
| 2020 (7) | 4.64 | -5.69 | 32.97 | -1.7 | 16.72 | -9.03 | 5.08 | 18.77 | 18.74 | -1.0 | 13.53 | -0.73 | 12.89 | -6.25 | 9.13 | -9.42 | 0.67 | -8.22 | 24.45 | 2.86 | 44.43 | 8.52 | 89.24 | -8.02 | 10.76 | 261.43 | 0.34 | 31.36 | 27.22 | 0.55 |
| 2019 (6) | 4.92 | -6.82 | 33.54 | -1.53 | 18.38 | -6.46 | 4.28 | 40.14 | 18.93 | -8.95 | 13.63 | -0.73 | 13.75 | -7.78 | 10.08 | -8.94 | 0.73 | -9.88 | 23.77 | -1.74 | 40.94 | 21.74 | 97.02 | 2.71 | 2.98 | -46.25 | 0.26 | -25.87 | 27.07 | 2.58 |
| 2018 (5) | 5.28 | -16.59 | 34.06 | -2.71 | 19.65 | -5.57 | 3.05 | 13.07 | 20.79 | -4.76 | 13.73 | -17.09 | 14.91 | -19.54 | 11.07 | -19.14 | 0.81 | -2.41 | 24.19 | -3.16 | 33.63 | -6.92 | 94.46 | -0.84 | 5.54 | 20.47 | 0.35 | 27.27 | 26.39 | 0.42 |
| 2017 (4) | 6.33 | 8.02 | 35.01 | -3.5 | 20.81 | 0.34 | 2.70 | -17.49 | 21.83 | 0.51 | 16.56 | 0.73 | 18.53 | 4.28 | 13.69 | 5.63 | 0.83 | 6.41 | 24.98 | -2.65 | 36.13 | 3.29 | 95.26 | -0.25 | 4.60 | 2.1 | 0.28 | 0 | 26.28 | 7.4 |
| 2016 (3) | 5.86 | 15.13 | 36.28 | 6.08 | 20.74 | 7.02 | 3.27 | -5.87 | 21.72 | 6.63 | 16.44 | 8.66 | 17.77 | 12.68 | 12.96 | 16.76 | 0.78 | 6.85 | 25.66 | 4.61 | 34.98 | -13.71 | 95.50 | 0.44 | 4.50 | -8.49 | 0.00 | 0 | 24.47 | -4.26 |
| 2015 (2) | 5.09 | -19.46 | 34.20 | -7.64 | 19.38 | -14.17 | 3.47 | 15.97 | 20.37 | -16.58 | 15.13 | -16.32 | 15.77 | -23.0 | 11.10 | -22.92 | 0.73 | -8.75 | 24.53 | -12.27 | 40.54 | -10.86 | 95.08 | 2.76 | 4.92 | -34.17 | 0.00 | 0 | 25.56 | 0.83 |
| 2014 (1) | 6.32 | 4.29 | 37.03 | 0 | 22.58 | 0 | 3.00 | -0.03 | 24.42 | 0 | 18.08 | 0 | 20.48 | 0 | 14.40 | 0 | 0.80 | 2.56 | 27.96 | -7.54 | 45.48 | 15.81 | 92.52 | 7.89 | 7.48 | -47.52 | 0.00 | 0 | 25.35 | 5.27 |
