- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 21Q3 (20) | 0.68 | -56.69 | -67.77 | 28.90 | -6.05 | 2.41 | 12.75 | -3.12 | 0.16 | 5.70 | -49.15 | -58.82 | 4.24 | -53.15 | -63.03 | 0.73 | -55.49 | -67.56 | 0.54 | -53.04 | -60.87 | 0.12 | 0.0 | 0.0 | 16.68 | -16.64 | -25.67 | 48.05 | 0.97 | -29.35 | 223.23 | 90.09 | 142.62 | -123.62 | -609.13 | -1646.44 | 0.00 | 0 | 0 |
| 21Q2 (19) | 1.57 | -16.04 | -32.03 | 30.76 | 7.97 | -0.39 | 13.16 | 7.87 | -22.45 | 11.21 | -25.61 | -30.16 | 9.05 | -26.0 | -31.75 | 1.64 | -21.53 | -34.66 | 1.15 | -16.67 | -24.34 | 0.12 | 9.09 | 9.09 | 20.01 | -20.69 | -20.69 | 47.59 | -5.89 | -33.31 | 117.43 | 45.25 | 11.12 | -17.43 | -191.77 | -206.99 | 0.00 | -100.0 | 0 |
| 21Q1 (18) | 1.87 | 266.67 | 81.55 | 28.49 | 27.36 | 13.1 | 12.20 | 82.63 | 45.24 | 15.07 | 329.34 | 65.42 | 12.23 | 311.78 | 68.46 | 2.09 | 294.34 | 88.29 | 1.38 | 263.16 | 89.04 | 0.11 | 0.0 | 22.22 | 25.23 | 87.58 | 25.15 | 50.57 | -21.41 | -29.1 | 80.85 | -57.43 | -12.23 | 19.00 | 121.12 | 141.12 | 23.95 | 0 | 0 |
| 20Q4 (17) | 0.51 | -75.83 | -16.39 | 22.37 | -20.73 | 46.78 | 6.68 | -47.53 | 1177.42 | 3.51 | -74.64 | 96.09 | 2.97 | -74.11 | -20.38 | 0.53 | -76.44 | -15.87 | 0.38 | -72.46 | -17.39 | 0.11 | -8.33 | 10.0 | 13.45 | -40.06 | 5.08 | 64.35 | -5.38 | -8.54 | 189.94 | 106.44 | 647.02 | -89.94 | -1225.06 | -167.45 | 0.00 | 0 | -100.0 |
| 20Q3 (16) | 2.11 | -8.66 | 39.74 | 28.22 | -8.61 | 24.59 | 12.73 | -24.99 | 53.93 | 13.84 | -13.77 | 31.06 | 11.47 | -13.5 | 29.9 | 2.25 | -10.36 | 43.31 | 1.38 | -9.21 | 39.39 | 0.12 | 9.09 | 20.0 | 22.44 | -11.06 | 7.78 | 68.01 | -4.69 | -10.18 | 92.01 | -12.94 | 17.68 | 7.99 | 240.77 | -62.98 | 0.00 | 0 | -100.0 |
| 20Q2 (15) | 2.31 | 124.27 | 81.89 | 30.88 | 22.59 | 17.59 | 16.97 | 102.02 | 55.12 | 16.05 | 76.18 | 52.13 | 13.26 | 82.64 | 72.88 | 2.51 | 126.13 | 97.64 | 1.52 | 108.22 | 80.95 | 0.11 | 22.22 | 10.0 | 25.23 | 25.15 | 19.52 | 71.36 | 0.04 | -4.21 | 105.68 | 14.72 | 1.84 | -5.68 | -172.08 | -50.48 | 0.00 | 0 | -100.0 |
| 20Q1 (14) | 1.03 | 68.85 | -22.56 | 25.19 | 65.29 | -13.56 | 8.40 | 1454.84 | -33.23 | 9.11 | 408.94 | -24.15 | 7.26 | 94.64 | -17.5 | 1.11 | 76.19 | -15.27 | 0.73 | 58.7 | -19.78 | 0.09 | -10.0 | 0.0 | 20.16 | 57.5 | -11.89 | 71.33 | 1.38 | 16.36 | 92.12 | 365.31 | -12.04 | 7.88 | -94.09 | 266.58 | 0.00 | -100.0 | -100.0 |
| 19Q4 (13) | 0.61 | -59.6 | -60.13 | 15.24 | -32.72 | -53.44 | -0.62 | -107.5 | -103.58 | 1.79 | -83.05 | -81.92 | 3.73 | -57.76 | -58.09 | 0.63 | -59.87 | -59.35 | 0.46 | -53.54 | -53.54 | 0.10 | 0.0 | 0.0 | 12.80 | -38.52 | -29.44 | 70.36 | -7.08 | 4.97 | -34.72 | -144.41 | -119.89 | 133.33 | 517.54 | 278.21 | 31.96 | 25.09 | 14.8 |
| 19Q3 (12) | 1.51 | 18.9 | -71.4 | 22.65 | -13.75 | -46.05 | 8.27 | -24.41 | -72.01 | 10.56 | 0.09 | -63.65 | 8.83 | 15.12 | -63.62 | 1.57 | 23.62 | -75.92 | 0.99 | 17.86 | -73.88 | 0.10 | 0.0 | -33.33 | 20.82 | -1.37 | -43.36 | 75.72 | 1.64 | -3.65 | 78.18 | -24.66 | -23.13 | 21.59 | 672.16 | 1363.07 | 25.55 | -15.23 | 38.86 |
| 19Q2 (11) | 1.27 | -4.51 | -58.5 | 26.26 | -9.88 | -22.92 | 10.94 | -13.04 | -50.74 | 10.55 | -12.16 | -54.43 | 7.67 | -12.84 | -57.29 | 1.27 | -3.05 | -74.19 | 0.84 | -7.69 | -67.69 | 0.10 | 11.11 | -28.57 | 21.11 | -7.74 | -30.4 | 74.50 | 21.53 | -0.27 | 103.77 | -0.91 | 8.23 | -3.77 | 20.22 | -191.67 | 30.14 | 40.91 | 43.52 |
| 19Q1 (10) | 1.33 | -13.07 | 20.91 | 29.14 | -10.97 | 15.54 | 12.58 | -27.28 | 5.18 | 12.01 | 21.31 | -1.72 | 8.80 | -1.12 | 4.39 | 1.31 | -15.48 | -55.14 | 0.91 | -8.08 | -28.91 | 0.09 | -10.0 | -35.71 | 22.88 | 26.13 | 2.92 | 61.30 | -8.55 | -59.34 | 104.73 | -40.01 | 7.0 | -4.73 | 93.68 | -322.89 | 21.39 | -23.17 | -12.01 |
| 18Q4 (9) | 1.53 | -71.02 | -11.05 | 32.73 | -22.03 | 21.81 | 17.30 | -41.46 | 32.67 | 9.90 | -65.92 | -19.97 | 8.90 | -63.33 | -17.13 | 1.55 | -76.23 | -67.71 | 0.99 | -73.88 | -43.75 | 0.10 | -33.33 | -33.33 | 18.14 | -50.65 | 9.15 | 67.03 | -14.71 | -57.08 | 174.57 | 71.64 | 65.28 | -74.82 | -4276.77 | -1290.91 | 27.84 | 51.3 | 5.45 |
| 18Q3 (8) | 5.28 | 72.55 | 146.73 | 41.98 | 23.22 | 41.44 | 29.55 | 33.05 | 72.81 | 29.05 | 25.49 | 91.24 | 24.27 | 35.13 | 74.48 | 6.52 | 32.52 | -28.82 | 3.79 | 45.77 | 10.5 | 0.15 | 7.14 | -37.5 | 36.76 | 21.2 | 68.93 | 78.59 | 5.21 | -67.88 | 101.71 | 6.08 | -9.58 | -1.71 | -141.53 | 86.3 | 18.40 | -12.38 | -10.98 |
| 18Q2 (7) | 3.06 | 178.18 | 155.0 | 34.07 | 35.09 | 46.98 | 22.21 | 85.7 | 88.22 | 23.15 | 89.44 | 80.44 | 17.96 | 113.05 | 79.42 | 4.92 | 68.49 | -16.47 | 2.60 | 103.12 | 88.41 | 0.14 | 0.0 | 27.27 | 30.33 | 36.44 | 0 | 74.70 | -50.45 | -40.86 | 95.88 | -2.04 | 4.09 | 4.12 | 93.99 | -82.76 | 21.00 | -13.62 | -6.54 |
| 18Q1 (6) | 1.10 | -36.05 | -0.9 | 25.22 | -6.14 | 1.69 | 11.96 | -8.28 | -6.64 | 12.22 | -1.21 | -7.0 | 8.43 | -21.51 | -23.36 | 2.92 | -39.17 | -20.65 | 1.28 | -27.27 | -14.67 | 0.14 | -6.67 | -6.67 | 22.23 | 33.75 | -12.41 | 150.75 | -3.48 | 48.89 | 97.88 | -7.33 | 0.17 | 2.12 | 139.45 | 105.63 | 24.31 | -7.92 | -3.84 |
| 17Q4 (5) | 1.72 | -19.63 | 24.64 | 26.87 | -9.47 | -0.44 | 13.04 | -23.74 | -9.26 | 12.37 | -18.56 | -23.5 | 10.74 | -22.79 | -19.25 | 4.80 | -47.6 | -2.64 | 1.76 | -48.69 | -21.43 | 0.15 | -37.5 | -6.25 | 16.62 | -23.62 | -40.56 | 156.19 | -36.17 | 45.18 | 105.62 | -6.1 | 18.76 | -5.38 | 56.91 | -113.21 | 26.40 | 27.72 | 1.38 |
| 17Q3 (4) | 2.14 | 78.33 | 0.0 | 29.68 | 28.04 | 0.0 | 17.10 | 44.92 | 0.0 | 15.19 | 18.39 | 0.0 | 13.91 | 38.96 | 0.0 | 9.16 | 55.52 | 0.0 | 3.43 | 148.55 | 0.0 | 0.24 | 118.18 | 0.0 | 21.76 | 0 | 0.0 | 244.69 | 93.72 | 0.0 | 112.48 | 22.11 | 0.0 | -12.48 | -152.28 | 0.0 | 20.67 | -8.01 | 0.0 |
| 17Q2 (3) | 1.20 | 8.11 | 0.0 | 23.18 | -6.53 | 0.0 | 11.80 | -7.88 | 0.0 | 12.83 | -2.36 | 0.0 | 10.01 | -9.0 | 0.0 | 5.89 | 60.05 | 0.0 | 1.38 | -8.0 | 0.0 | 0.11 | -26.67 | 0.0 | 0.00 | -100.0 | 0.0 | 126.31 | 24.75 | 0.0 | 92.12 | -5.73 | 0.0 | 23.87 | 163.3 | 0.0 | 22.47 | -11.12 | 0.0 |
| 17Q1 (2) | 1.11 | -19.57 | 0.0 | 24.80 | -8.11 | 0.0 | 12.81 | -10.86 | 0.0 | 13.14 | -18.74 | 0.0 | 11.00 | -17.29 | 0.0 | 3.68 | -25.35 | 0.0 | 1.50 | -33.04 | 0.0 | 0.15 | -6.25 | 0.0 | 25.38 | -9.23 | 0.0 | 101.25 | -5.88 | 0.0 | 97.71 | 9.87 | 0.0 | -37.71 | -192.65 | 0.0 | 25.28 | -2.92 | 0.0 |
| 16Q4 (1) | 1.38 | 0.0 | 0.0 | 26.99 | 0.0 | 0.0 | 14.37 | 0.0 | 0.0 | 16.17 | 0.0 | 0.0 | 13.30 | 0.0 | 0.0 | 4.93 | 0.0 | 0.0 | 2.24 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 27.96 | 0.0 | 0.0 | 107.58 | 0.0 | 0.0 | 88.94 | 0.0 | 0.0 | 40.71 | 0.0 | 0.0 | 26.04 | 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 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2020 (10) | 5.91 | 25.48 | 26.76 | 15.3 | 11.35 | 47.02 | 8.54 | -5.82 | 10.74 | 23.59 | 8.85 | 22.07 | 6.27 | 31.45 | 4.00 | 24.22 | 0.42 | 7.69 | 20.35 | 5.11 | 64.35 | -8.54 | 105.60 | 18.98 | -5.66 | 0 | 25.27 | 3.08 | 0.00 | 0 |
| 2019 (9) | 4.71 | -59.19 | 23.21 | -33.53 | 7.72 | -64.55 | 9.07 | 35.56 | 8.69 | -56.87 | 7.25 | -55.6 | 4.77 | -72.32 | 3.22 | -66.07 | 0.39 | -29.09 | 19.36 | -31.49 | 70.36 | 4.97 | 88.76 | -17.9 | 11.24 | 0 | 24.51 | 2.38 | 27.35 | 5.56 |
| 2018 (8) | 11.54 | 104.61 | 34.92 | 31.03 | 21.78 | 54.14 | 6.69 | -5.12 | 20.15 | 48.27 | 16.33 | 39.57 | 17.23 | 2.74 | 9.49 | 23.89 | 0.55 | -11.29 | 28.26 | 28.98 | 67.03 | -57.08 | 108.12 | 4.0 | -8.12 | 0 | 23.95 | 0 | 25.91 | 10.35 |
| 2017 (7) | 5.64 | 5.62 | 26.65 | -0.19 | 14.13 | -0.91 | 7.05 | -12.19 | 13.59 | -9.7 | 11.70 | -8.67 | 16.77 | -26.25 | 7.66 | -31.24 | 0.62 | -25.3 | 21.91 | -9.76 | 156.19 | 45.18 | 103.96 | 9.73 | -4.02 | 0 | 0.00 | 0 | 23.48 | -4.86 |
| 2016 (6) | 5.34 | 21.09 | 26.70 | 7.4 | 14.26 | 9.02 | 8.03 | -27.77 | 15.05 | 5.99 | 12.81 | 7.92 | 22.74 | 47.47 | 11.14 | 48.73 | 0.83 | 38.33 | 24.28 | -8.86 | 107.58 | -14.22 | 94.74 | 2.96 | 5.26 | -34.11 | 0.00 | 0 | 24.68 | -10.19 |
| 2015 (5) | 4.41 | 63.33 | 24.86 | 6.24 | 13.08 | 11.6 | 11.11 | -5.62 | 14.20 | 18.33 | 11.87 | 29.16 | 15.42 | 40.95 | 7.49 | 30.72 | 0.60 | 5.26 | 26.64 | 5.71 | 125.42 | 14.17 | 92.01 | -5.8 | 7.99 | 244.22 | 0.00 | 0 | 27.48 | 2.0 |
| 2014 (4) | 2.70 | 48.35 | 23.40 | 12.88 | 11.72 | 33.94 | 11.78 | 2.89 | 12.00 | 28.48 | 9.19 | 31.29 | 10.94 | 27.8 | 5.73 | 22.17 | 0.57 | -5.0 | 25.20 | 13.98 | 109.85 | 3.51 | 97.68 | 4.31 | 2.32 | -63.5 | 0.00 | 0 | 26.94 | 10.41 |
| 2013 (3) | 1.82 | 0 | 20.73 | 0 | 8.75 | 0 | 11.44 | 0 | 9.34 | 0 | 7.00 | 0 | 8.56 | 0 | 4.69 | 0 | 0.60 | 0 | 22.11 | 0 | 106.12 | 0 | 93.64 | 0 | 6.36 | 0 | 0.00 | 0 | 24.40 | 0 |
