- 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) | 1.30 | -15.58 | -38.1 | 24.02 | -13.53 | -7.58 | 17.37 | -11.78 | 10.29 | 50.04 | -29.27 | -59.58 | 47.36 | -25.59 | -60.77 | 3.56 | -15.44 | -47.65 | 2.19 | -14.79 | -43.26 | 0.04 | 0.0 | 33.33 | 54.96 | -27.91 | -58.07 | 68.84 | -4.8 | -19.6 | 34.70 | 24.72 | 172.69 | 65.30 | -9.5 | -25.18 | 9.96 | -12.25 | -32.61 |
| 24Q2 (19) | 1.54 | -37.4 | 1.32 | 27.78 | 8.81 | 2.97 | 19.69 | 8.78 | 4.85 | 70.75 | -48.38 | -1.68 | 63.65 | -46.38 | -7.97 | 4.21 | -45.89 | -17.13 | 2.57 | -44.73 | -12.59 | 0.04 | 0.0 | 0.0 | 76.24 | -46.58 | -1.56 | 72.31 | 5.87 | -4.99 | 27.82 | 110.69 | 6.61 | 72.16 | -16.86 | -2.36 | 11.35 | 3.18 | 4.13 |
| 24Q1 (18) | 2.46 | 323.64 | 2360.0 | 25.53 | -5.48 | 4.42 | 18.10 | -13.73 | 11.25 | 137.06 | 595.52 | 1512.47 | 118.71 | 477.22 | 1576.69 | 7.78 | 374.91 | 1456.0 | 4.65 | 414.19 | 1156.76 | 0.04 | -20.0 | 0.0 | 142.71 | 715.39 | 871.48 | 68.30 | -7.39 | -15.96 | 13.20 | 117.41 | -93.09 | 86.80 | -50.63 | 195.14 | 11.00 | 23.04 | -5.66 |
| 23Q4 (17) | -1.10 | -152.38 | 33.73 | 27.01 | 3.92 | 19.35 | 20.98 | 33.21 | 30.39 | -27.66 | -122.34 | 38.29 | -31.47 | -126.07 | 30.62 | -2.83 | -141.62 | 66.27 | -1.48 | -138.34 | 56.47 | 0.05 | 66.67 | -37.5 | -23.19 | -117.69 | 43.47 | 73.75 | -13.86 | -18.98 | -75.85 | -696.1 | -111.27 | 175.81 | 101.44 | 29.36 | 8.94 | -39.51 | 16.86 |
| 23Q3 (16) | 2.10 | 38.16 | 42.86 | 25.99 | -3.67 | 17.6 | 15.75 | -16.13 | 0.32 | 123.81 | 72.05 | 85.71 | 120.71 | 74.54 | 89.71 | 6.80 | 33.86 | -57.47 | 3.86 | 31.29 | -17.52 | 0.03 | -25.0 | -57.14 | 131.06 | 69.22 | 84.67 | 85.62 | 12.5 | -69.71 | 12.72 | -51.24 | -45.98 | 87.28 | 18.09 | 14.16 | 14.78 | 35.6 | 53.32 |
| 23Q2 (15) | 1.52 | 1420.0 | -47.04 | 26.98 | 10.35 | 32.19 | 18.78 | 15.43 | 36.28 | 71.96 | 746.59 | -12.18 | 69.16 | 876.84 | -13.47 | 5.08 | 916.0 | -44.54 | 2.94 | 694.59 | -33.03 | 0.04 | 0.0 | -20.0 | 77.45 | 427.23 | -9.86 | 76.11 | -6.35 | -66.45 | 26.10 | -86.35 | 55.14 | 73.90 | 181.01 | -11.15 | 10.90 | -6.52 | 19.52 |
| 23Q1 (14) | 0.10 | 106.02 | -94.76 | 24.45 | 8.04 | -0.57 | 16.27 | 1.12 | -2.98 | 8.50 | 118.96 | -86.65 | 7.08 | 115.61 | -88.77 | 0.50 | 105.96 | -84.66 | 0.37 | 110.88 | -82.38 | 0.04 | -50.0 | 33.33 | 14.69 | 135.81 | -78.51 | 81.27 | -10.72 | 11.31 | 191.23 | 632.64 | 625.77 | -91.23 | -167.13 | -223.83 | 11.66 | 52.42 | 8.77 |
| 22Q4 (13) | -1.66 | -212.93 | -262.75 | 22.63 | 2.4 | 1.03 | 16.09 | 2.48 | 22.64 | -44.82 | -167.23 | -233.47 | -45.36 | -171.29 | -235.2 | -8.39 | -152.47 | -579.43 | -3.40 | -172.65 | -383.33 | 0.08 | 14.29 | 166.67 | -41.02 | -157.8 | -208.29 | 91.03 | -67.79 | 81.88 | -35.90 | -252.43 | -191.89 | 135.90 | 77.77 | 123.05 | 7.65 | -20.64 | -34.11 |
| 22Q3 (12) | 1.47 | -48.78 | -34.38 | 22.10 | 8.28 | -2.64 | 15.70 | 13.93 | -3.62 | 66.67 | -18.64 | 7.51 | 63.63 | -20.39 | 8.58 | 15.99 | 74.56 | 329.84 | 4.68 | 6.61 | 91.8 | 0.07 | 40.0 | 75.0 | 70.97 | -17.4 | 8.04 | 282.63 | 24.6 | 395.49 | 23.55 | 40.02 | -10.31 | 76.45 | -8.09 | 3.7 | 9.64 | 5.7 | 12.22 |
| 22Q2 (11) | 2.87 | 50.26 | 12.11 | 20.41 | -17.0 | -14.67 | 13.78 | -17.83 | -16.69 | 81.94 | 28.72 | 27.53 | 79.93 | 26.83 | 28.48 | 9.16 | 180.98 | 193.59 | 4.39 | 109.05 | 115.2 | 0.05 | 66.67 | 66.67 | 85.92 | 25.69 | 24.52 | 226.83 | 210.68 | 305.85 | 16.82 | -36.16 | -34.65 | 83.18 | 12.9 | 12.01 | 9.12 | -14.93 | -8.8 |
| 22Q1 (10) | 1.91 | 87.25 | -42.81 | 24.59 | 9.78 | 12.9 | 16.77 | 27.82 | 27.05 | 63.66 | 89.58 | -53.86 | 63.02 | 87.84 | -53.3 | 3.26 | 86.29 | -44.93 | 2.10 | 75.0 | -44.88 | 0.03 | 0.0 | 0.0 | 68.36 | 80.46 | -52.38 | 73.01 | 45.87 | 22.81 | 26.35 | -32.56 | 175.54 | 73.68 | 20.92 | -18.53 | 10.72 | -7.67 | -8.38 |
| 21Q4 (9) | 1.02 | -54.46 | 308.0 | 22.40 | -1.32 | -2.9 | 13.12 | -19.46 | -2.09 | 33.58 | -45.85 | 199.82 | 33.55 | -42.75 | 199.82 | 1.75 | -52.96 | 173.44 | 1.20 | -50.82 | 155.32 | 0.03 | -25.0 | -25.0 | 37.88 | -42.34 | 111.62 | 50.05 | -12.25 | -11.7 | 39.07 | 48.77 | -67.39 | 60.93 | -17.35 | 409.95 | 11.61 | 35.16 | -2.11 |
| 21Q3 (8) | 2.24 | -12.5 | -13.51 | 22.70 | -5.1 | 31.9 | 16.29 | -1.51 | 83.45 | 62.01 | -3.49 | -21.61 | 58.60 | -5.8 | -24.27 | 3.72 | 19.23 | -9.49 | 2.44 | 19.61 | -2.01 | 0.04 | 33.33 | 33.33 | 65.69 | -4.8 | -24.51 | 57.04 | 2.06 | -17.54 | 26.26 | 2.02 | 134.13 | 73.72 | -0.73 | -16.97 | 8.59 | -14.1 | -21.7 |
| 21Q2 (7) | 2.56 | -23.35 | 68.42 | 23.92 | 9.83 | 6.03 | 16.54 | 25.3 | 42.34 | 64.25 | -53.43 | -16.32 | 62.21 | -53.9 | 50.19 | 3.12 | -47.3 | 60.82 | 2.04 | -46.46 | 77.39 | 0.03 | 0.0 | 0.0 | 69.00 | -51.93 | -21.5 | 55.89 | -5.99 | -22.91 | 25.74 | 169.18 | 70.08 | 74.26 | -17.89 | -12.5 | 10.00 | -14.53 | 0 |
| 21Q1 (6) | 3.34 | 1236.0 | 9.51 | 21.78 | -5.59 | 12.38 | 13.20 | -1.49 | 48.31 | 137.97 | 1131.88 | 72.81 | 134.94 | 1105.9 | 73.56 | 5.92 | 825.0 | 49.49 | 3.81 | 710.64 | 70.09 | 0.03 | -25.0 | 0.0 | 143.54 | 701.9 | 57.1 | 59.45 | 4.89 | -39.79 | 9.56 | -92.02 | -14.35 | 90.44 | 560.05 | 1.77 | 11.70 | -1.35 | -14.85 |
| 20Q4 (5) | 0.25 | -90.35 | 119.08 | 23.07 | 34.05 | 21.23 | 13.40 | 50.9 | 39.44 | 11.20 | -85.84 | 157.52 | 11.19 | -85.54 | 150.56 | 0.64 | -84.43 | 150.79 | 0.47 | -81.12 | 173.44 | 0.04 | 33.33 | 33.33 | 17.90 | -79.43 | 254.58 | 56.68 | -18.06 | -25.24 | 119.80 | 968.05 | 342.4 | -19.66 | -122.14 | -113.16 | 11.86 | 8.11 | 0 |
| 20Q3 (4) | 2.59 | 70.39 | 0.0 | 17.21 | -23.71 | 0.0 | 8.88 | -23.58 | 0.0 | 79.10 | 3.02 | 0.0 | 77.38 | 86.82 | 0.0 | 4.11 | 111.86 | 0.0 | 2.49 | 116.52 | 0.0 | 0.03 | 0.0 | 0.0 | 87.02 | -1.0 | 0.0 | 69.17 | -4.59 | 0.0 | 11.22 | -25.89 | 0.0 | 88.78 | 4.62 | 0.0 | 10.97 | 0 | 0.0 |
| 20Q2 (3) | 1.52 | -50.16 | 0.0 | 22.56 | 16.41 | 0.0 | 11.62 | 30.56 | 0.0 | 76.78 | -3.83 | 0.0 | 41.42 | -46.73 | 0.0 | 1.94 | -51.01 | 0.0 | 1.15 | -48.66 | 0.0 | 0.03 | 0.0 | 0.0 | 87.90 | -3.8 | 0.0 | 72.50 | -26.57 | 0.0 | 15.13 | 35.55 | 0.0 | 84.87 | -4.5 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 3.05 | 332.82 | 0.0 | 19.38 | 1.84 | 0.0 | 8.90 | -7.39 | 0.0 | 79.84 | 510.07 | 0.0 | 77.75 | 451.33 | 0.0 | 3.96 | 414.29 | 0.0 | 2.24 | 450.0 | 0.0 | 0.03 | 0.0 | 0.0 | 91.37 | 889.03 | 0.0 | 98.73 | 30.22 | 0.0 | 11.17 | 122.59 | 0.0 | 88.87 | -40.53 | 0.0 | 13.74 | 0 | 0.0 |
| 19Q4 (1) | -1.31 | 0.0 | 0.0 | 19.03 | 0.0 | 0.0 | 9.61 | 0.0 | 0.0 | -19.47 | 0.0 | 0.0 | -22.13 | 0.0 | 0.0 | -1.26 | 0.0 | 0.0 | -0.64 | 0.0 | 0.0 | 0.03 | 0.0 | 0.0 | -11.58 | 0.0 | 0.0 | 75.82 | 0.0 | 0.0 | -49.42 | 0.0 | 0.0 | 149.42 | 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) | 2.65 | -11.67 | 26.21 | 17.22 | 18.31 | 17.52 | 2.44 | 24.8 | 35.82 | 7.34 | 32.96 | 3.45 | 9.61 | 7.86 | 5.70 | 0.35 | 0.16 | -5.88 | 41.49 | 10.61 | 73.75 | -18.98 | 51.12 | 9.46 | 48.88 | -8.29 | 0.12 | -8.8 | 11.21 | 23.46 |
| 2022 (9) | 3.00 | -64.37 | 22.36 | -1.63 | 15.58 | 4.49 | 1.96 | -9.63 | 33.37 | -52.03 | 31.86 | -52.77 | 8.91 | -36.22 | 5.68 | -39.38 | 0.17 | 21.43 | 37.51 | -49.33 | 91.03 | 81.88 | 46.70 | 117.81 | 53.30 | -32.15 | 0.13 | 44.35 | 9.08 | -12.02 |
| 2021 (8) | 8.42 | 43.2 | 22.73 | 10.13 | 14.91 | 36.41 | 2.17 | -58.05 | 69.57 | 23.18 | 67.45 | 38.79 | 13.97 | 53.85 | 9.37 | 60.45 | 0.14 | 27.27 | 74.03 | 13.26 | 50.05 | -11.7 | 21.44 | 10.82 | 78.56 | -2.6 | 0.09 | -35.41 | 10.32 | -16.84 |
| 2020 (7) | 5.88 | -37.11 | 20.64 | -1.39 | 10.93 | -0.73 | 5.16 | -4.23 | 56.48 | -2.64 | 48.60 | -12.51 | 9.08 | -42.86 | 5.84 | -31.46 | 0.11 | -26.67 | 65.36 | -2.43 | 56.68 | -25.24 | 19.34 | 1.97 | 80.66 | -0.46 | 0.14 | -16.15 | 12.41 | 4.29 |
| 2019 (6) | 9.35 | 29.5 | 20.93 | -15.64 | 11.01 | -16.97 | 5.39 | 47.19 | 58.01 | -29.84 | 55.55 | -20.99 | 15.89 | -33.12 | 8.52 | -24.4 | 0.15 | -6.25 | 66.99 | -24.63 | 75.82 | -47.59 | 18.97 | 18.31 | 81.03 | -3.5 | 0.16 | -37.37 | 11.90 | -6.3 |
| 2018 (5) | 7.22 | 4.49 | 24.81 | 1.1 | 13.26 | 39.87 | 3.66 | -21.2 | 82.68 | -35.65 | 70.31 | -33.34 | 23.76 | -8.16 | 11.27 | -12.91 | 0.16 | 33.33 | 88.88 | -34.7 | 144.68 | 47.89 | 16.03 | 117.22 | 83.97 | -9.34 | 0.26 | 22.88 | 12.70 | -19.97 |
| 2017 (4) | 6.91 | 17.12 | 24.54 | -5.8 | 9.48 | -32.62 | 4.65 | 24.13 | 128.49 | 90.86 | 105.48 | 64.4 | 25.87 | 5.51 | 12.94 | 12.91 | 0.12 | -29.41 | 136.10 | 85.32 | 97.83 | -13.79 | 7.38 | -64.69 | 92.62 | 17.1 | 0.21 | 0 | 15.87 | 18.52 |
| 2016 (3) | 5.90 | -8.67 | 26.05 | -8.69 | 14.07 | -16.3 | 3.74 | 16.22 | 67.32 | 0.66 | 64.16 | -2.4 | 24.52 | -11.58 | 11.46 | -3.94 | 0.17 | -5.56 | 73.44 | 0.98 | 113.48 | -10.6 | 20.90 | -16.81 | 79.10 | 5.66 | 0.00 | 0 | 13.39 | 2.29 |
| 2015 (2) | 6.46 | 13.53 | 28.53 | 31.41 | 16.81 | 185.88 | 3.22 | 50.52 | 66.88 | 10.73 | 65.74 | 10.92 | 27.73 | 48.85 | 11.93 | 24.27 | 0.18 | 20.0 | 72.73 | 10.0 | 126.93 | -18.01 | 25.13 | 158.01 | 74.86 | -17.05 | 0.00 | 0 | 13.09 | -12.73 |
| 2014 (1) | 5.69 | -80.4 | 21.71 | 0 | 5.88 | 0 | 2.14 | 17.07 | 60.40 | 0 | 59.27 | 0 | 18.63 | 0 | 9.60 | 0 | 0.15 | -28.57 | 66.12 | -69.06 | 154.82 | 110.55 | 9.74 | 282.11 | 90.25 | -7.39 | 0.00 | 0 | 15.00 | 17.83 |
