- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q1 (20) | 2.11 | -13.52 | -13.88 | 30.06 | -4.84 | -17.94 | 13.15 | 8.68 | -21.49 | 14.60 | 6.8 | -13.04 | 11.51 | -8.29 | -13.26 | 3.20 | -8.05 | -28.57 | 1.94 | -12.22 | -14.54 | 0.16 | -5.88 | 0.0 | 40.88 | 6.26 | 1.39 | 81.66 | 22.25 | -31.58 | 90.34 | 1.86 | -9.19 | 9.66 | -14.59 | 0 | 0.00 | -100.0 | -100.0 |
| 23Q4 (19) | 2.44 | -8.96 | -29.68 | 31.59 | -6.9 | -19.56 | 12.10 | -22.78 | -42.92 | 13.67 | -20.48 | -37.95 | 12.55 | -11.43 | -33.49 | 3.48 | -21.27 | -43.87 | 2.21 | -12.65 | -33.43 | 0.17 | 0.0 | 0.0 | 38.47 | -4.26 | -11.3 | 66.80 | 9.19 | -28.95 | 88.69 | -2.99 | -7.63 | 11.31 | 25.0 | 215.41 | 31.98 | -8.34 | -6.57 |
| 23Q3 (18) | 2.68 | -20.0 | -9.76 | 33.93 | -13.31 | -2.7 | 15.67 | -26.43 | -17.83 | 17.19 | -21.79 | -19.45 | 14.17 | -16.89 | -18.56 | 4.42 | -29.17 | -20.79 | 2.53 | -16.23 | -16.78 | 0.17 | 0.0 | 0.0 | 40.18 | -9.5 | -6.69 | 61.18 | -43.62 | -33.06 | 91.43 | -5.75 | 1.89 | 9.05 | 201.96 | -15.56 | 34.89 | 5.34 | -5.14 |
| 23Q2 (17) | 3.35 | 36.73 | 104.27 | 39.14 | 6.85 | 13.29 | 21.30 | 27.16 | 33.13 | 21.98 | 30.91 | 30.29 | 17.05 | 28.49 | 48.26 | 6.24 | 39.29 | 93.79 | 3.02 | 33.04 | 65.03 | 0.17 | 6.25 | 13.33 | 44.40 | 10.12 | 6.5 | 108.51 | -9.08 | 27.57 | 97.00 | -2.49 | 2.47 | 3.00 | 0 | -43.82 | 33.12 | -4.39 | -7.36 |
| 23Q1 (16) | 2.45 | -29.39 | 20.1 | 36.63 | -6.72 | -5.2 | 16.75 | -20.99 | 0.3 | 16.79 | -23.79 | -5.94 | 13.27 | -29.68 | -6.75 | 4.48 | -27.74 | 13.42 | 2.27 | -31.63 | -3.81 | 0.16 | -5.88 | 0.0 | 40.32 | -7.03 | -2.33 | 119.35 | 26.94 | 44.84 | 99.48 | 3.61 | 6.82 | 0.00 | -100.0 | -100.0 | 34.64 | 1.2 | -5.1 |
| 22Q4 (15) | 3.47 | 16.84 | 16.05 | 39.27 | 12.62 | 5.51 | 21.20 | 11.17 | 10.24 | 22.03 | 3.23 | -9.23 | 18.87 | 8.45 | -6.91 | 6.20 | 11.11 | 6.16 | 3.32 | 9.21 | -7.26 | 0.17 | 0.0 | 0.0 | 43.37 | 0.72 | -7.39 | 94.02 | 2.88 | 51.16 | 96.02 | 7.0 | 21.11 | 3.59 | -66.53 | -82.7 | 34.23 | -6.93 | 2.3 |
| 22Q3 (14) | 2.97 | 81.1 | 29.69 | 34.87 | 0.93 | -0.63 | 19.07 | 19.19 | 0.47 | 21.34 | 26.5 | 11.44 | 17.40 | 51.3 | 12.04 | 5.58 | 73.29 | 16.98 | 3.04 | 66.12 | 6.67 | 0.17 | 13.33 | -5.56 | 43.06 | 3.29 | 3.63 | 91.39 | 7.44 | 31.03 | 89.73 | -5.21 | -9.75 | 10.71 | 100.89 | 826.79 | 36.78 | 2.88 | 5.18 |
| 22Q2 (13) | 1.64 | -19.61 | -33.33 | 34.55 | -10.58 | -9.63 | 16.00 | -4.19 | -27.93 | 16.87 | -5.49 | -23.25 | 11.50 | -19.18 | -38.21 | 3.22 | -18.48 | -41.35 | 1.83 | -22.46 | -43.52 | 0.15 | -6.25 | -11.76 | 41.69 | 0.99 | -7.99 | 85.06 | 3.23 | 16.95 | 94.67 | 1.66 | -6.39 | 5.33 | -14.67 | 574.67 | 35.75 | -2.05 | 5.58 |
| 22Q1 (12) | 2.04 | -31.77 | 16.57 | 38.64 | 3.82 | 18.64 | 16.70 | -13.16 | -14.09 | 17.85 | -26.45 | 1.25 | 14.23 | -29.8 | -4.5 | 3.95 | -32.36 | 1.8 | 2.36 | -34.08 | -4.45 | 0.16 | -5.88 | 0.0 | 41.28 | -11.85 | -5.1 | 82.40 | 32.48 | 14.48 | 93.12 | 17.46 | -15.4 | 6.25 | -69.84 | 162.02 | 36.50 | 9.09 | 1.98 |
| 21Q4 (11) | 2.99 | 30.57 | 51.01 | 37.22 | 6.07 | 12.52 | 19.23 | 1.32 | 14.67 | 24.27 | 26.74 | 37.12 | 20.27 | 30.52 | 35.04 | 5.84 | 22.43 | 35.5 | 3.58 | 25.61 | 21.77 | 0.17 | -5.56 | -10.53 | 46.83 | 12.71 | 17.72 | 62.20 | -10.82 | 24.85 | 79.28 | -20.26 | -16.12 | 20.72 | 1692.34 | 278.15 | 33.46 | -4.32 | 17.36 |
| 21Q3 (10) | 2.29 | -6.91 | 6.51 | 35.09 | -8.21 | 14.67 | 18.98 | -14.5 | 23.57 | 19.15 | -12.88 | 18.65 | 15.53 | -16.55 | -5.19 | 4.77 | -13.11 | -3.64 | 2.85 | -12.04 | -13.9 | 0.18 | 5.88 | -10.0 | 41.55 | -8.3 | 10.71 | 69.75 | -4.1 | 42.73 | 99.42 | -1.68 | 4.16 | 1.16 | 202.89 | -74.57 | 34.97 | 3.28 | 21.13 |
| 21Q2 (9) | 2.46 | 40.57 | 161.7 | 38.23 | 17.38 | 40.14 | 22.20 | 14.2 | 75.36 | 21.98 | 24.67 | 92.3 | 18.61 | 24.9 | 136.17 | 5.49 | 41.49 | 153.0 | 3.24 | 31.17 | 121.92 | 0.17 | 6.25 | -5.56 | 45.31 | 4.16 | 28.65 | 72.73 | 1.04 | 27.78 | 101.12 | -8.13 | -8.56 | -1.12 | 88.85 | 89.39 | 33.86 | -5.39 | 0 |
| 21Q1 (8) | 1.75 | -11.62 | 57.66 | 32.57 | -1.54 | 21.35 | 19.44 | 15.92 | 53.68 | 17.63 | -0.4 | 34.07 | 14.90 | -0.73 | 46.08 | 3.88 | -9.98 | 54.58 | 2.47 | -15.99 | 45.29 | 0.16 | -15.79 | 0.0 | 43.50 | 9.35 | 14.59 | 71.98 | 44.48 | 28.88 | 110.08 | 16.46 | 13.92 | -10.08 | -283.91 | -398.97 | 35.79 | 25.53 | 0 |
| 20Q4 (7) | 1.98 | -7.91 | 60.98 | 33.08 | 8.1 | 21.66 | 16.77 | 9.18 | 11.06 | 17.70 | 9.67 | 31.89 | 15.01 | -8.36 | 37.45 | 4.31 | -12.93 | 51.23 | 2.94 | -11.18 | 47.74 | 0.19 | -5.0 | 11.76 | 39.78 | 6.0 | 7.4 | 49.82 | 1.94 | -12.8 | 94.52 | -0.98 | -16.18 | 5.48 | 20.55 | 142.92 | 28.51 | -1.25 | 135.19 |
| 20Q3 (6) | 2.15 | 128.72 | 198.61 | 30.60 | 12.17 | 21.72 | 15.36 | 21.33 | 73.95 | 16.14 | 41.21 | 101.5 | 16.38 | 107.87 | 141.24 | 4.95 | 128.11 | 194.64 | 3.31 | 126.71 | 175.83 | 0.20 | 11.11 | 17.65 | 37.53 | 6.56 | 16.3 | 48.87 | -14.14 | 10.14 | 95.45 | -13.68 | -12.77 | 4.55 | 142.93 | 148.18 | 28.87 | 0 | -3.93 |
| 20Q2 (5) | 0.94 | -15.32 | -9.62 | 27.28 | 1.64 | 8.43 | 12.66 | 0.08 | 3.43 | 11.43 | -13.08 | -6.69 | 7.88 | -22.75 | -23.5 | 2.17 | -13.55 | -8.44 | 1.46 | -14.12 | -10.98 | 0.18 | 12.5 | 20.0 | 35.22 | -7.22 | -3.4 | 56.92 | 1.92 | 2.99 | 110.59 | 14.45 | 10.59 | -10.59 | -414.12 | 0 | 0.00 | 0 | -100.0 |
| 20Q1 (4) | 1.11 | -9.76 | 0.0 | 26.84 | -1.29 | 0.0 | 12.65 | -16.23 | 0.0 | 13.15 | -2.01 | 0.0 | 10.20 | -6.59 | 0.0 | 2.51 | -11.93 | 0.0 | 1.70 | -14.57 | 0.0 | 0.16 | -5.88 | 0.0 | 37.96 | 2.48 | 0.0 | 55.85 | -2.24 | 0.0 | 96.63 | -14.31 | 0.0 | 3.37 | 126.4 | 0.0 | 0.00 | 100.0 | 0.0 |
| 19Q4 (3) | 1.23 | 70.83 | 0.0 | 27.19 | 8.15 | 0.0 | 15.10 | 71.01 | 0.0 | 13.42 | 67.54 | 0.0 | 10.92 | 60.82 | 0.0 | 2.85 | 69.64 | 0.0 | 1.99 | 65.83 | 0.0 | 0.17 | 0.0 | 0.0 | 37.04 | 14.78 | 0.0 | 57.13 | 28.76 | 0.0 | 112.77 | 3.04 | 0.0 | -12.77 | -35.32 | 0.0 | -81.01 | -369.58 | 0.0 |
| 19Q3 (2) | 0.72 | -30.77 | 0.0 | 25.14 | -0.08 | 0.0 | 8.83 | -27.86 | 0.0 | 8.01 | -34.61 | 0.0 | 6.79 | -34.08 | 0.0 | 1.68 | -29.11 | 0.0 | 1.20 | -26.83 | 0.0 | 0.17 | 13.33 | 0.0 | 32.27 | -11.49 | 0.0 | 44.37 | -19.72 | 0.0 | 109.43 | 9.43 | 0.0 | -9.43 | 0 | 0.0 | 30.05 | -1.48 | 0.0 |
| 19Q2 (1) | 1.04 | 0.0 | 0.0 | 25.16 | 0.0 | 0.0 | 12.24 | 0.0 | 0.0 | 12.25 | 0.0 | 0.0 | 10.30 | 0.0 | 0.0 | 2.37 | 0.0 | 0.0 | 1.64 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 36.46 | 0.0 | 0.0 | 55.27 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 30.50 | 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) | 10.81 | 6.82 | 35.29 | -4.39 | 16.43 | -11.0 | 22.62 | 2.99 | 17.40 | -11.9 | 14.27 | -9.63 | 17.05 | -7.14 | 9.91 | -6.42 | 0.67 | 3.08 | 40.84 | -3.75 | 66.80 | -28.95 | 94.38 | 0.94 | 5.50 | -15.41 | 0.07 | -23.28 | 33.64 | -5.93 |
| 2022 (9) | 10.12 | 6.75 | 36.91 | 2.87 | 18.46 | -7.38 | 21.97 | -3.86 | 19.75 | -5.46 | 15.79 | -9.41 | 18.36 | -2.5 | 10.59 | -13.76 | 0.65 | -5.8 | 42.43 | -4.22 | 94.02 | 51.16 | 93.50 | -2.03 | 6.50 | 38.2 | 0.09 | -34.01 | 35.76 | 3.74 |
| 2021 (8) | 9.48 | 53.4 | 35.88 | 21.09 | 19.93 | 37.64 | 22.85 | 2.74 | 20.89 | 41.63 | 17.43 | 38.55 | 18.83 | 38.56 | 12.28 | 34.21 | 0.69 | -1.43 | 44.30 | 17.63 | 62.20 | 24.85 | 95.44 | -2.62 | 4.70 | 165.6 | 0.13 | -3.1 | 34.47 | 17.44 |
| 2020 (7) | 6.18 | 56.46 | 29.63 | 9.66 | 14.48 | 13.12 | 22.24 | -6.74 | 14.75 | 21.1 | 12.58 | 29.96 | 13.59 | 50.0 | 9.15 | 41.86 | 0.70 | 9.37 | 37.66 | 2.56 | 49.82 | -12.8 | 98.01 | -6.51 | 1.77 | 0 | 0.14 | 16.25 | 29.35 | -3.9 |
| 2019 (6) | 3.95 | -4.36 | 27.02 | -12.73 | 12.80 | -15.18 | 23.85 | 6.5 | 12.18 | -20.96 | 9.68 | -21.49 | 9.06 | -5.82 | 6.45 | -12.48 | 0.64 | 8.47 | 36.72 | -3.52 | 57.13 | 53.62 | 104.84 | 7.18 | -5.16 | 0 | 0.12 | 44.76 | 30.54 | -4.71 |
| 2018 (5) | 4.13 | 2.23 | 30.96 | -3.4 | 15.09 | -6.56 | 22.39 | 1.48 | 15.41 | -0.19 | 12.33 | -2.22 | 9.62 | 0.1 | 7.37 | -2.12 | 0.59 | 0.0 | 38.06 | 0.87 | 37.19 | 43.48 | 97.82 | -6.45 | 2.18 | 0 | 0.08 | 0 | 32.05 | 3.42 |
| 2017 (4) | 4.04 | -18.22 | 32.05 | -15.88 | 16.15 | -25.85 | 22.07 | 6.53 | 15.44 | -27.99 | 12.61 | -20.19 | 9.61 | -35.8 | 7.53 | -33.71 | 0.59 | -18.06 | 37.73 | -11.14 | 25.92 | -20.05 | 104.56 | 2.92 | -4.56 | 0 | 0.00 | 0 | 30.99 | 0.94 |
| 2016 (3) | 4.94 | 28.31 | 38.10 | 0.03 | 21.78 | 3.13 | 20.71 | -5.7 | 21.44 | -0.88 | 15.80 | -0.38 | 14.97 | 5.65 | 11.36 | -0.09 | 0.72 | 0.0 | 42.46 | -3.15 | 32.42 | 1.63 | 101.60 | 3.74 | -1.60 | 0 | 0.00 | 0 | 30.70 | 3.61 |
| 2015 (2) | 3.85 | -15.2 | 38.09 | -8.74 | 21.12 | -15.32 | 21.96 | 6.89 | 21.63 | -15.71 | 15.86 | -20.1 | 14.17 | -22.27 | 11.37 | -25.1 | 0.72 | -5.26 | 43.84 | -5.9 | 31.90 | 80.63 | 97.93 | 0.91 | 2.48 | -16.01 | 0.00 | 0 | 29.63 | 5.56 |
| 2014 (1) | 4.54 | -11.33 | 41.74 | 0 | 24.94 | 0 | 20.55 | -4.9 | 25.66 | 0 | 19.85 | 0 | 18.23 | 0 | 15.18 | 0 | 0.76 | -2.56 | 46.59 | -2.98 | 17.66 | -23.58 | 97.05 | -2.95 | 2.95 | 0 | 0.00 | 0 | 28.07 | -0.95 |
