- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 25Q1 (20) | 13.95 | -3.46 | 60.34 | 58.79 | -0.36 | 10.78 | 48.51 | -1.04 | 15.45 | 51.34 | -0.66 | 14.14 | 42.98 | -0.32 | 13.11 | 8.08 | -9.92 | 28.25 | 5.25 | -10.41 | 30.6 | 0.12 | -14.29 | 20.0 | 72.53 | 1.31 | 0.37 | 55.02 | 0.44 | -4.96 | 94.47 | -0.4 | 1.12 | 5.53 | 7.45 | -15.94 | 10.52 | 2.94 | -1.77 |
| 24Q4 (19) | 14.45 | 15.14 | 56.89 | 59.00 | 2.02 | 11.24 | 49.02 | 3.22 | 17.84 | 51.68 | 2.19 | 16.16 | 43.12 | 0.77 | 13.18 | 8.97 | 8.2 | 29.06 | 5.86 | 8.72 | 34.1 | 0.14 | 7.69 | 27.27 | 71.59 | -2.01 | 3.69 | 54.78 | 2.78 | -6.88 | 94.86 | 1.01 | 1.45 | 5.14 | -15.62 | -20.81 | 10.22 | -3.4 | -2.11 |
| 24Q3 (18) | 12.55 | 31.28 | 54.18 | 57.83 | 8.76 | 6.58 | 47.49 | 11.61 | 13.86 | 50.57 | 11.19 | 14.28 | 42.79 | 16.37 | 10.97 | 8.29 | 25.23 | 29.33 | 5.39 | 27.12 | 34.41 | 0.13 | 18.18 | 30.0 | 73.06 | 3.79 | 1.81 | 53.30 | -5.83 | -14.87 | 93.90 | 0.38 | -0.38 | 6.10 | -5.47 | 6.29 | 10.58 | 2.92 | -3.99 |
| 24Q2 (17) | 9.56 | 9.89 | 36.38 | 53.17 | 0.19 | -1.74 | 42.55 | 1.26 | 1.31 | 45.48 | 1.11 | 1.86 | 36.77 | -3.24 | -2.7 | 6.62 | 5.08 | 14.73 | 4.24 | 5.47 | 17.45 | 0.11 | 10.0 | 22.22 | 70.39 | -2.59 | -0.93 | 56.60 | -2.23 | -6.68 | 93.55 | 0.13 | -0.56 | 6.45 | -1.91 | 8.87 | 10.28 | -4.01 | -12.21 |
| 24Q1 (16) | 8.70 | -5.54 | 9.02 | 53.07 | 0.06 | -5.79 | 42.02 | 1.01 | -7.57 | 44.98 | 1.1 | -6.35 | 38.00 | -0.26 | -6.61 | 6.30 | -9.35 | -7.89 | 4.02 | -8.01 | -3.83 | 0.10 | -9.09 | 0.0 | 72.26 | 4.66 | 2.79 | 57.89 | -1.6 | -8.31 | 93.43 | -0.08 | -1.31 | 6.57 | 1.22 | 23.19 | 10.71 | 2.59 | -5.8 |
| 23Q4 (15) | 9.21 | 13.14 | -19.28 | 53.04 | -2.25 | -14.75 | 41.60 | -0.26 | -19.94 | 44.49 | 0.54 | -16.84 | 38.10 | -1.19 | -19.45 | 6.95 | 8.42 | -32.92 | 4.37 | 8.98 | -29.63 | 0.11 | 10.0 | -15.38 | 69.04 | -3.79 | -3.07 | 58.83 | -6.04 | -13.1 | 93.50 | -0.81 | -3.73 | 6.50 | 13.26 | 125.76 | 10.44 | -5.26 | -3.51 |
| 23Q3 (14) | 8.14 | 16.12 | -24.84 | 54.26 | 0.28 | -10.21 | 41.71 | -0.69 | -17.59 | 44.25 | -0.9 | -14.33 | 38.56 | 2.04 | -15.84 | 6.41 | 11.09 | -39.98 | 4.01 | 11.08 | -36.45 | 0.10 | 11.11 | -28.57 | 71.76 | 1.0 | 3.43 | 62.61 | 3.23 | -8.88 | 94.27 | 0.2 | -3.8 | 5.74 | -3.18 | 185.27 | 11.02 | -5.89 | 4.85 |
| 23Q2 (13) | 7.01 | -12.16 | -23.3 | 54.11 | -3.94 | -8.38 | 42.00 | -7.61 | -14.41 | 44.65 | -7.04 | -10.34 | 37.79 | -7.13 | -14.89 | 5.77 | -15.64 | -41.24 | 3.61 | -13.64 | -37.11 | 0.09 | -10.0 | -30.77 | 71.05 | 1.07 | -0.68 | 60.65 | -3.94 | -17.04 | 94.08 | -0.62 | -4.53 | 5.92 | 11.0 | 306.64 | 11.71 | 2.99 | 9.13 |
| 23Q1 (12) | 7.98 | -30.06 | 2.05 | 56.33 | -9.47 | 1.26 | 45.46 | -12.51 | -0.24 | 48.03 | -10.22 | 3.98 | 40.69 | -13.97 | -1.5 | 6.84 | -33.98 | -24.25 | 4.18 | -32.69 | -21.13 | 0.10 | -23.08 | -23.08 | 70.30 | -1.31 | 1.52 | 63.14 | -6.74 | -12.29 | 94.66 | -2.53 | -4.05 | 5.34 | 85.5 | 297.96 | 11.37 | 5.08 | 11.58 |
| 22Q4 (11) | 11.41 | 5.36 | 78.0 | 62.22 | 2.96 | 18.15 | 51.96 | 2.67 | 24.57 | 53.50 | 3.58 | 26.84 | 47.30 | 3.23 | 24.57 | 10.36 | -3.0 | 32.31 | 6.21 | -1.58 | 30.46 | 0.13 | -7.14 | 8.33 | 71.23 | 2.67 | 4.86 | 67.70 | -1.47 | -5.47 | 97.12 | -0.88 | -1.79 | 2.88 | 43.11 | 159.77 | 10.82 | 2.95 | 5.87 |
| 22Q3 (10) | 10.83 | 18.49 | 79.6 | 60.43 | 2.32 | 17.8 | 50.61 | 3.14 | 22.72 | 51.65 | 3.71 | 23.18 | 45.82 | 3.2 | 21.41 | 10.68 | 8.76 | 38.88 | 6.31 | 9.93 | 28.78 | 0.14 | 7.69 | 7.69 | 69.38 | -3.02 | 1.94 | 68.71 | -6.02 | 13.87 | 97.99 | -0.56 | -0.38 | 2.01 | 38.01 | 22.73 | 10.51 | -2.05 | 2.14 |
| 22Q2 (9) | 9.14 | 16.88 | 76.45 | 59.06 | 6.17 | 18.05 | 49.07 | 7.68 | 25.37 | 49.80 | 7.82 | 24.07 | 44.40 | 7.48 | 22.86 | 9.82 | 8.75 | 43.57 | 5.74 | 8.3 | 27.56 | 0.13 | 0.0 | 8.33 | 71.54 | 3.31 | 4.68 | 73.11 | 1.56 | 32.66 | 98.54 | -0.12 | 1.06 | 1.46 | 8.63 | -41.56 | 10.73 | 5.3 | 1.32 |
| 22Q1 (8) | 7.82 | 22.0 | 45.08 | 55.63 | 5.64 | 6.2 | 45.57 | 9.25 | 9.7 | 46.19 | 9.51 | 7.95 | 41.31 | 8.8 | 7.13 | 9.03 | 15.33 | 22.52 | 5.30 | 11.34 | 7.29 | 0.13 | 8.33 | 0.0 | 69.25 | 1.94 | -2.24 | 71.99 | 0.52 | 42.87 | 98.66 | -0.24 | 1.63 | 1.34 | 21.08 | -54.05 | 10.19 | -0.29 | -3.04 |
| 21Q4 (7) | 6.41 | 6.3 | 16.33 | 52.66 | 2.65 | -2.45 | 41.71 | 1.14 | -4.03 | 42.18 | 0.6 | -5.34 | 37.97 | 0.61 | -3.9 | 7.83 | 1.82 | -0.25 | 4.76 | -2.86 | -10.53 | 0.12 | -7.69 | -7.69 | 67.93 | -0.19 | -5.34 | 71.62 | 18.69 | 45.63 | 98.89 | 0.54 | 1.4 | 1.11 | -32.39 | -55.25 | 10.22 | -0.68 | -2.01 |
| 21Q3 (6) | 6.03 | 16.41 | 13.77 | 51.30 | 2.54 | -4.0 | 41.24 | 5.37 | -2.04 | 41.93 | 4.46 | -3.65 | 37.74 | 4.43 | -2.08 | 7.69 | 12.43 | -1.79 | 4.90 | 8.89 | -9.59 | 0.13 | 8.33 | -7.14 | 68.06 | -0.41 | -3.06 | 60.34 | 9.49 | 27.35 | 98.36 | 0.88 | 1.69 | 1.64 | -34.28 | -49.95 | 10.29 | -2.83 | 0.0 |
| 21Q2 (5) | 5.18 | -3.9 | 11.16 | 50.03 | -4.49 | -5.62 | 39.14 | -5.78 | -7.23 | 40.14 | -6.19 | -8.56 | 36.14 | -6.28 | -7.12 | 6.84 | -7.19 | -3.93 | 4.50 | -8.91 | -11.07 | 0.12 | -7.69 | -7.69 | 68.34 | -3.53 | 2.24 | 55.11 | 9.37 | 30.41 | 97.51 | 0.44 | 1.45 | 2.49 | -14.6 | -35.89 | 10.59 | 0.76 | 0 |
| 21Q1 (4) | 5.39 | -2.18 | 0.0 | 52.38 | -2.96 | 0.0 | 41.54 | -4.42 | 0.0 | 42.79 | -3.97 | 0.0 | 38.56 | -2.4 | 0.0 | 7.37 | -6.11 | 0.0 | 4.94 | -7.14 | 0.0 | 0.13 | 0.0 | 0.0 | 70.84 | -1.28 | 0.0 | 50.39 | 2.46 | 0.0 | 97.08 | -0.46 | 0.0 | 2.92 | 17.94 | 0.0 | 10.51 | 0.77 | 0.0 |
| 20Q4 (3) | 5.51 | 3.96 | 0.0 | 53.98 | 1.01 | 0.0 | 43.46 | 3.23 | 0.0 | 44.56 | 2.39 | 0.0 | 39.51 | 2.52 | 0.0 | 7.85 | 0.26 | 0.0 | 5.32 | -1.85 | 0.0 | 0.13 | -7.14 | 0.0 | 71.76 | 2.21 | 0.0 | 49.18 | 3.8 | 0.0 | 97.53 | 0.83 | 0.0 | 2.47 | -24.39 | 0.0 | 10.43 | 1.36 | 0.0 |
| 20Q3 (2) | 5.30 | 13.73 | 0.0 | 53.44 | 0.81 | 0.0 | 42.10 | -0.21 | 0.0 | 43.52 | -0.87 | 0.0 | 38.54 | -0.95 | 0.0 | 7.83 | 9.97 | 0.0 | 5.42 | 7.11 | 0.0 | 0.14 | 7.69 | 0.0 | 70.21 | 5.04 | 0.0 | 47.38 | 12.12 | 0.0 | 96.73 | 0.64 | 0.0 | 3.27 | -15.83 | 0.0 | 10.29 | 0 | 0.0 |
| 20Q2 (1) | 4.66 | 0.0 | 0.0 | 53.01 | 0.0 | 0.0 | 42.19 | 0.0 | 0.0 | 43.90 | 0.0 | 0.0 | 38.91 | 0.0 | 0.0 | 7.12 | 0.0 | 0.0 | 5.06 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 66.84 | 0.0 | 0.0 | 42.26 | 0.0 | 0.0 | 96.11 | 0.0 | 0.0 | 3.89 | 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 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 (10) | 45.25 | 39.92 | 56.12 | 3.24 | 45.68 | 7.15 | 22.58 | -6.65 | 48.57 | 7.22 | 40.51 | 4.54 | 30.04 | 15.54 | 19.32 | 19.7 | 0.47 | 14.63 | 71.84 | 1.94 | 54.78 | -6.88 | 94.04 | -0.07 | 5.96 | 1.13 | 0.39 | -4.56 | 10.43 | -5.95 |
| 2023 (9) | 32.34 | -17.5 | 54.36 | -8.73 | 42.63 | -13.93 | 24.19 | 27.81 | 45.30 | -10.37 | 38.75 | -13.74 | 26.00 | -34.41 | 16.14 | -31.67 | 0.41 | -21.15 | 70.47 | 0.14 | 58.83 | -13.1 | 94.11 | -3.97 | 5.89 | 194.3 | 0.41 | -21.42 | 11.09 | 4.82 |
| 2022 (8) | 39.20 | 70.36 | 59.56 | 15.36 | 49.53 | 20.95 | 18.93 | -27.46 | 50.54 | 21.0 | 44.92 | 19.44 | 39.64 | 33.47 | 23.62 | 27.4 | 0.52 | 6.12 | 70.37 | 2.4 | 67.70 | -5.47 | 98.00 | -0.02 | 2.00 | 1.02 | 0.52 | -27.26 | 10.58 | 1.83 |
| 2021 (7) | 23.01 | 15.22 | 51.63 | -2.77 | 40.95 | -3.24 | 26.09 | 7.67 | 41.77 | -4.33 | 37.61 | -2.79 | 29.70 | -0.47 | 18.54 | -10.39 | 0.49 | -7.55 | 68.72 | 0.19 | 71.62 | 45.63 | 98.02 | 1.13 | 1.98 | -35.58 | 0.72 | -22.87 | 10.39 | -1.14 |
| 2020 (6) | 19.97 | 49.92 | 53.10 | 15.31 | 42.32 | 21.5 | 24.23 | -7.86 | 43.66 | 19.85 | 38.69 | 19.86 | 29.84 | 42.57 | 20.69 | 29.47 | 0.53 | 8.16 | 68.59 | 7.93 | 49.18 | 24.13 | 96.92 | 1.38 | 3.08 | -30.03 | 0.93 | 2.35 | 10.51 | 2.24 |
| 2019 (5) | 13.32 | -1.62 | 46.05 | -4.62 | 34.83 | -6.35 | 26.30 | -5.85 | 36.43 | -5.47 | 32.28 | -5.2 | 20.93 | -4.65 | 15.98 | -7.79 | 0.49 | -3.92 | 63.55 | -5.43 | 39.62 | 61.06 | 95.60 | -0.94 | 4.40 | 25.88 | 0.91 | 12.11 | 10.28 | -2.0 |
| 2018 (4) | 13.54 | 2.34 | 48.28 | -4.62 | 37.19 | -5.73 | 27.93 | 6.74 | 38.54 | -4.91 | 34.05 | -3.02 | 21.95 | -6.83 | 17.33 | -2.86 | 0.51 | 2.0 | 67.20 | -0.41 | 24.60 | -20.16 | 96.51 | -0.85 | 3.49 | 30.88 | 0.81 | 0 | 10.49 | -1.5 |
| 2017 (3) | 13.23 | 2.64 | 50.62 | 1.06 | 39.45 | -1.05 | 26.17 | 12.72 | 40.53 | -0.47 | 35.11 | -0.45 | 23.56 | -7.93 | 17.84 | -6.2 | 0.50 | -5.66 | 67.48 | 4.33 | 30.81 | -13.72 | 97.33 | -0.61 | 2.67 | 28.75 | 0.00 | 0 | 10.65 | 1.24 |
| 2016 (2) | 12.89 | 9.05 | 50.09 | 2.96 | 39.87 | 5.09 | 23.22 | -10.7 | 40.72 | -1.97 | 35.27 | -2.94 | 25.59 | -5.29 | 19.02 | -3.06 | 0.53 | -1.85 | 64.68 | -5.3 | 35.71 | 0.39 | 97.93 | 7.22 | 2.07 | -76.09 | 0.00 | 0 | 10.52 | -2.68 |
| 2015 (1) | 11.82 | 16.11 | 48.65 | 0 | 37.94 | 0 | 26.00 | 0.34 | 41.54 | 0 | 36.34 | 0 | 27.02 | 0 | 19.62 | 0 | 0.54 | -1.82 | 68.30 | 3.05 | 35.57 | -17.07 | 91.33 | -6.75 | 8.67 | 321.86 | 0.00 | 0 | 10.81 | 1.22 |
