- 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) | 1.43 | -0.69 | 8.33 | 43.10 | -5.09 | 9.22 | 28.55 | 4.46 | 18.61 | 28.81 | -6.49 | -1.06 | 23.05 | -6.49 | 0.44 | 2.74 | 0.0 | 4.18 | 2.27 | 1.79 | 4.61 | 0.10 | 11.11 | 11.11 | 49.42 | -8.41 | -5.92 | 15.56 | -40.88 | -11.03 | 98.39 | 11.8 | 19.1 | 0.81 | -92.8 | -95.36 | 14.62 | -5.43 | -5.0 |
| 24Q2 (19) | 1.44 | -18.18 | 54.84 | 45.41 | -5.73 | 28.17 | 27.33 | -9.44 | 38.59 | 30.81 | -18.21 | 38.78 | 24.65 | -18.19 | 38.8 | 2.74 | -17.47 | 50.55 | 2.23 | -20.36 | 47.68 | 0.09 | 0.0 | 0.0 | 53.96 | -11.6 | 12.93 | 26.32 | 30.17 | 6.34 | 88.00 | 10.55 | -0.85 | 11.20 | -43.25 | -0.44 | 15.46 | -5.96 | 0.65 |
| 24Q1 (18) | 1.76 | 44.26 | 179.37 | 48.17 | 6.45 | 42.98 | 30.18 | 0.07 | 80.18 | 37.67 | 46.4 | 118.88 | 30.13 | 48.79 | 118.97 | 3.32 | 40.08 | 172.13 | 2.80 | 38.61 | 166.67 | 0.09 | -10.0 | 12.5 | 61.04 | 25.73 | 32.04 | 20.22 | 21.3 | 26.3 | 79.61 | -31.86 | -17.39 | 19.74 | 217.32 | 985.53 | 16.44 | 10.78 | 2.49 |
| 23Q4 (17) | 1.22 | -7.58 | 103.33 | 45.25 | 14.67 | 28.11 | 30.16 | 25.3 | 79.42 | 25.73 | -11.64 | 70.51 | 20.25 | -11.76 | 75.32 | 2.37 | -9.89 | 102.56 | 2.02 | -6.91 | 102.0 | 0.10 | 11.11 | 11.11 | 48.55 | -7.58 | 19.52 | 16.67 | -4.69 | -0.06 | 116.82 | 41.42 | 5.14 | -16.82 | -196.73 | -51.4 | 14.84 | -3.57 | -11.93 |
| 23Q3 (16) | 1.32 | 41.94 | 37.5 | 39.46 | 11.37 | 28.45 | 24.07 | 22.06 | 53.7 | 29.12 | 31.17 | 11.19 | 22.95 | 29.22 | 12.61 | 2.63 | 44.51 | 38.42 | 2.17 | 43.71 | 43.71 | 0.09 | 0.0 | 28.57 | 52.53 | 9.94 | -3.3 | 17.49 | -29.33 | -1.74 | 82.61 | -6.92 | 37.68 | 17.39 | 54.59 | -56.52 | 15.39 | 0.2 | -2.04 |
| 23Q2 (15) | 0.93 | 47.62 | -27.34 | 35.43 | 5.16 | -17.74 | 19.72 | 17.73 | -27.92 | 22.20 | 28.99 | -23.61 | 17.76 | 29.07 | -23.58 | 1.82 | 49.18 | -24.17 | 1.51 | 43.81 | -21.35 | 0.09 | 12.5 | 12.5 | 47.78 | 3.35 | -9.9 | 24.75 | 54.59 | -28.28 | 88.75 | -7.9 | -6.13 | 11.25 | 518.75 | 106.25 | 15.36 | -4.24 | -12.03 |
| 23Q1 (14) | 0.63 | 5.0 | -45.69 | 33.69 | -4.61 | -4.61 | 16.75 | -0.36 | -19.97 | 17.21 | 14.05 | -30.24 | 13.76 | 19.13 | -30.29 | 1.22 | 4.27 | -41.06 | 1.05 | 5.0 | -40.34 | 0.08 | -11.11 | -11.11 | 46.23 | 13.81 | -2.49 | 16.01 | -4.02 | -1.96 | 96.36 | -13.27 | 13.37 | 1.82 | 116.36 | -87.88 | 16.04 | -4.81 | -5.59 |
| 22Q4 (13) | 0.60 | -37.5 | -62.26 | 35.32 | 14.97 | -18.56 | 16.81 | 7.34 | -40.18 | 15.09 | -42.38 | -44.44 | 11.55 | -43.33 | -46.28 | 1.17 | -38.42 | -59.79 | 1.00 | -33.77 | -55.56 | 0.09 | 28.57 | -10.0 | 40.62 | -25.22 | -10.15 | 16.68 | -6.29 | -8.3 | 111.11 | 85.19 | 7.25 | -11.11 | -127.78 | -208.89 | 16.85 | 7.26 | 9.06 |
| 22Q3 (12) | 0.96 | -25.0 | -76.7 | 30.72 | -28.67 | -47.83 | 15.66 | -42.76 | -66.35 | 26.19 | -9.88 | -45.65 | 20.38 | -12.31 | -47.15 | 1.90 | -20.83 | -73.65 | 1.51 | -21.35 | -72.94 | 0.07 | -12.5 | -50.0 | 54.32 | 2.43 | -7.21 | 17.80 | -48.42 | -57.05 | 60.00 | -36.54 | -37.91 | 40.00 | 633.33 | 1086.67 | 15.71 | -10.02 | 1.16 |
| 22Q2 (11) | 1.28 | 10.34 | -74.7 | 43.07 | 21.94 | -30.46 | 27.36 | 30.72 | -47.01 | 29.06 | 17.79 | -43.3 | 23.24 | 17.73 | -43.32 | 2.40 | 15.94 | -72.48 | 1.92 | 9.09 | -73.63 | 0.08 | -11.11 | -55.56 | 53.03 | 11.85 | -8.84 | 34.51 | 111.33 | 86.04 | 94.55 | 11.23 | -6.31 | 5.45 | -63.64 | 892.73 | 17.46 | 2.77 | 17.89 |
| 22Q1 (10) | 1.16 | -27.04 | -71.71 | 35.32 | -18.56 | -41.63 | 20.93 | -25.52 | -58.19 | 24.67 | -9.17 | -48.04 | 19.74 | -8.19 | -48.04 | 2.07 | -28.87 | -73.05 | 1.76 | -21.78 | -72.24 | 0.09 | -10.0 | -47.06 | 47.41 | 4.87 | -13.22 | 16.33 | -10.23 | -23.08 | 85.00 | -17.95 | -19.33 | 15.00 | 517.0 | 379.47 | 16.99 | 9.97 | 15.11 |
| 21Q4 (9) | 1.59 | -61.41 | -55.83 | 43.37 | -26.34 | -27.62 | 28.10 | -39.62 | -44.39 | 27.16 | -43.64 | -44.37 | 21.50 | -44.24 | -45.03 | 2.91 | -59.64 | -59.92 | 2.25 | -59.68 | -62.25 | 0.10 | -28.57 | -33.33 | 45.21 | -22.77 | -18.32 | 18.19 | -56.11 | -14.56 | 103.60 | 7.21 | 0.05 | -3.60 | -206.71 | -1.37 | 15.45 | -0.52 | -2.95 |
| 21Q3 (8) | 4.12 | -18.58 | 40.61 | 58.88 | -4.94 | 1.59 | 46.54 | -9.86 | 0.58 | 48.19 | -5.97 | 5.91 | 38.56 | -5.95 | 5.93 | 7.21 | -17.32 | 14.08 | 5.58 | -23.35 | 16.74 | 0.14 | -22.22 | 7.69 | 58.54 | 0.64 | 11.27 | 41.44 | 123.4 | 84.34 | 96.63 | -4.25 | -4.87 | 3.37 | 589.89 | 313.2 | 15.53 | 4.86 | 1.84 |
| 21Q2 (7) | 5.06 | 23.41 | 80.71 | 61.94 | 2.36 | 4.0 | 51.63 | 3.14 | 8.51 | 51.25 | 7.94 | 10.43 | 41.00 | 7.92 | 10.42 | 8.72 | 13.54 | 48.3 | 7.28 | 14.83 | 59.65 | 0.18 | 5.88 | 50.0 | 58.17 | 6.48 | 9.01 | 18.55 | -12.62 | -56.76 | 100.92 | -4.22 | -1.52 | -0.69 | 87.18 | 72.25 | 14.81 | 0.34 | 0 |
| 21Q1 (6) | 4.10 | 13.89 | 52.42 | 60.51 | 0.98 | 3.52 | 50.06 | -0.93 | 10.31 | 47.48 | -2.74 | -1.7 | 37.99 | -2.86 | -1.68 | 7.68 | 5.79 | 40.15 | 6.34 | 6.38 | 33.47 | 0.17 | 13.33 | 41.67 | 54.63 | -1.3 | -2.32 | 21.23 | -0.28 | 30.49 | 105.37 | 1.76 | 12.13 | -5.37 | -51.26 | -188.94 | 14.76 | -7.29 | -3.28 |
| 20Q4 (5) | 3.60 | 22.87 | 59.29 | 59.92 | 3.38 | 0.72 | 50.53 | 9.21 | 5.93 | 48.82 | 7.3 | 9.61 | 39.11 | 7.45 | 9.77 | 7.26 | 14.87 | 50.0 | 5.96 | 24.69 | 41.9 | 0.15 | 15.38 | 25.0 | 55.35 | 5.21 | 4.71 | 21.29 | -5.29 | 45.82 | 103.55 | 1.94 | -3.39 | -3.55 | -124.44 | 50.58 | 15.92 | 4.39 | 5.57 |
| 20Q3 (4) | 2.93 | 4.64 | 0.0 | 57.96 | -2.69 | 0.0 | 46.27 | -2.75 | 0.0 | 45.50 | -1.96 | 0.0 | 36.40 | -1.97 | 0.0 | 6.32 | 7.48 | 0.0 | 4.78 | 4.82 | 0.0 | 0.13 | 8.33 | 0.0 | 52.61 | -1.41 | 0.0 | 22.48 | -47.6 | 0.0 | 101.58 | -0.88 | 0.0 | -1.58 | 36.23 | 0.0 | 15.25 | 0 | 0.0 |
| 20Q2 (3) | 2.80 | 4.09 | 0.0 | 59.56 | 1.9 | 0.0 | 47.58 | 4.85 | 0.0 | 46.41 | -3.91 | 0.0 | 37.13 | -3.91 | 0.0 | 5.88 | 7.3 | 0.0 | 4.56 | -4.0 | 0.0 | 0.12 | 0.0 | 0.0 | 53.36 | -4.6 | 0.0 | 42.90 | 163.68 | 0.0 | 102.48 | 9.06 | 0.0 | -2.48 | -141.09 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 2.69 | 19.03 | 0.0 | 58.45 | -1.75 | 0.0 | 45.38 | -4.86 | 0.0 | 48.30 | 8.44 | 0.0 | 38.64 | 8.45 | 0.0 | 5.48 | 13.22 | 0.0 | 4.75 | 13.1 | 0.0 | 0.12 | 0.0 | 0.0 | 55.93 | 5.81 | 0.0 | 16.27 | 11.44 | 0.0 | 93.97 | -12.33 | 0.0 | 6.03 | 184.05 | 0.0 | 15.26 | 1.19 | 0.0 |
| 19Q4 (1) | 2.26 | 0.0 | 0.0 | 59.49 | 0.0 | 0.0 | 47.70 | 0.0 | 0.0 | 44.54 | 0.0 | 0.0 | 35.63 | 0.0 | 0.0 | 4.84 | 0.0 | 0.0 | 4.20 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 52.86 | 0.0 | 0.0 | 14.60 | 0.0 | 0.0 | 107.18 | 0.0 | 0.0 | -7.18 | 0.0 | 0.0 | 15.08 | 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) | 4.09 | 2.51 | 38.87 | 7.05 | 23.15 | 13.31 | 24.73 | 0.09 | 23.96 | 0.63 | 18.98 | 1.01 | 7.91 | 6.03 | 6.78 | 6.77 | 0.36 | 5.88 | 48.99 | 0.37 | 16.67 | -0.06 | 96.64 | 12.8 | 3.36 | -76.54 | 0.07 | -0.96 | 15.37 | -8.46 |
| 2022 (9) | 3.99 | -73.19 | 36.31 | -36.79 | 20.43 | -55.27 | 24.71 | 153.88 | 23.81 | -47.26 | 18.79 | -47.92 | 7.46 | -73.22 | 6.35 | -72.72 | 0.34 | -47.69 | 48.81 | -11.24 | 16.68 | -8.3 | 85.67 | -15.32 | 14.33 | 0 | 0.07 | 9.04 | 16.79 | 11.19 |
| 2021 (8) | 14.88 | 23.79 | 57.44 | -2.68 | 45.67 | -4.09 | 9.73 | 40.42 | 45.15 | -4.53 | 36.08 | -4.68 | 27.86 | 14.84 | 23.28 | 13.34 | 0.65 | 20.37 | 54.99 | 1.25 | 18.19 | -14.56 | 101.17 | 0.49 | -1.17 | 0 | 0.07 | -4.93 | 15.10 | -1.69 |
| 2020 (7) | 12.02 | 28.28 | 59.02 | -0.97 | 47.62 | 2.52 | 6.93 | -20.01 | 47.29 | 0.25 | 37.85 | -0.05 | 24.26 | 24.41 | 20.54 | 20.33 | 0.54 | 20.0 | 54.31 | -2.76 | 21.29 | 45.82 | 100.68 | 2.33 | -0.68 | 0 | 0.07 | 31.89 | 15.36 | 1.25 |
| 2019 (6) | 9.37 | -14.66 | 59.60 | -4.18 | 46.45 | -7.82 | 8.67 | 7.81 | 47.17 | -9.98 | 37.87 | -9.83 | 19.50 | -14.29 | 17.07 | -14.86 | 0.45 | -6.25 | 55.85 | -7.66 | 14.60 | 4.81 | 98.39 | 2.28 | 1.49 | -60.92 | 0.05 | 100.95 | 15.17 | 3.55 |
| 2018 (5) | 10.98 | -9.63 | 62.20 | -1.19 | 50.39 | -3.85 | 8.04 | 12.7 | 52.40 | 1.49 | 42.00 | -1.66 | 22.75 | -11.27 | 20.05 | -11.56 | 0.48 | -9.43 | 60.48 | 2.79 | 13.93 | 7.24 | 96.19 | -5.21 | 3.81 | 0 | 0.03 | 0 | 14.65 | 3.53 |
| 2017 (4) | 12.15 | 3.93 | 62.95 | 1.53 | 52.41 | 2.48 | 7.13 | -4.79 | 51.63 | 1.43 | 42.71 | 1.09 | 25.64 | 0.23 | 22.67 | 0.27 | 0.53 | -1.85 | 58.84 | 0.65 | 12.99 | -1.37 | 101.48 | 0.96 | -1.48 | 0 | 0.00 | 0 | 14.15 | -5.73 |
| 2016 (3) | 11.69 | 5.7 | 62.00 | 1.03 | 51.14 | 4.01 | 7.49 | -12.64 | 50.90 | -2.49 | 42.25 | -2.47 | 25.58 | -1.35 | 22.61 | -2.42 | 0.54 | 1.89 | 58.46 | -3.88 | 13.17 | 0.92 | 100.51 | 6.67 | -0.51 | 0 | 0.00 | 0 | 15.01 | -4.7 |
| 2015 (2) | 11.06 | 61.46 | 61.37 | 14.37 | 49.17 | 20.69 | 8.57 | -33.87 | 52.20 | 20.08 | 43.32 | 18.01 | 25.93 | 51.9 | 23.17 | 48.15 | 0.53 | 23.26 | 60.82 | 7.61 | 13.05 | 22.08 | 94.23 | 0.52 | 5.77 | -7.73 | 0.00 | 0 | 15.75 | 3.35 |
| 2014 (1) | 6.85 | -0.58 | 53.66 | 0 | 40.74 | 0 | 12.97 | -13.34 | 43.47 | 0 | 36.71 | 0 | 17.07 | 0 | 15.64 | 0 | 0.43 | -4.44 | 56.52 | 3.57 | 10.69 | 40.47 | 93.75 | -0.6 | 6.25 | 9.91 | 0.00 | 0 | 15.24 | -7.36 |
