- 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) | 0.44 | -56.0 | -10.2 | 21.32 | 9.84 | 50.56 | 14.41 | 10.59 | 98.21 | 13.00 | -49.73 | 4.0 | 10.39 | -55.6 | -16.21 | 2.27 | -55.49 | -23.57 | 1.43 | -59.49 | -23.53 | 0.12 | -20.0 | -14.29 | 18.47 | -39.12 | 1.15 | 96.67 | 68.89 | 81.37 | 111.21 | 121.39 | 92.92 | -11.21 | -122.54 | -126.48 | 7.39 | 4.67 | -14.67 |
| 24Q2 (19) | 1.00 | 233.33 | 92.31 | 19.41 | 28.29 | 41.16 | 13.03 | 61.86 | 76.32 | 25.86 | 118.6 | 117.86 | 23.40 | 147.62 | 96.47 | 5.10 | 246.94 | 43.26 | 3.53 | 212.39 | 78.28 | 0.15 | 36.36 | 0.0 | 30.34 | 71.32 | 72.39 | 57.24 | 37.83 | -40.22 | 50.23 | -26.74 | -20.03 | 49.77 | 58.34 | 29.39 | 7.06 | -26.92 | 0.86 |
| 24Q1 (18) | 0.30 | -82.66 | -9.09 | 15.13 | 8.77 | 54.39 | 8.05 | 21.42 | 80.49 | 11.83 | -68.16 | 44.62 | 9.45 | -74.42 | 19.92 | 1.47 | -81.65 | -35.81 | 1.13 | -79.57 | -14.39 | 0.11 | -26.67 | -26.67 | 17.71 | -57.61 | 25.6 | 41.53 | -0.69 | -55.18 | 68.57 | 285.05 | 24.9 | 31.43 | -61.76 | -30.31 | 9.66 | 11.68 | 49.07 |
| 23Q4 (17) | 1.73 | 253.06 | 540.74 | 13.91 | -1.77 | 31.85 | 6.63 | -8.8 | 26.53 | 37.15 | 197.2 | 522.28 | 36.95 | 197.98 | 518.93 | 8.01 | 169.7 | 365.7 | 5.53 | 195.72 | 447.52 | 0.15 | 7.14 | 7.14 | 41.78 | 128.81 | 251.09 | 41.82 | -21.54 | -56.79 | 17.81 | -69.11 | -79.89 | 82.19 | 94.06 | 619.18 | 8.65 | -0.12 | 7.99 |
| 23Q3 (16) | 0.49 | -5.77 | 81.48 | 14.16 | 2.98 | -11.06 | 7.27 | -1.62 | -15.07 | 12.50 | 5.31 | 49.88 | 12.40 | 4.11 | 55.78 | 2.97 | -16.57 | 47.76 | 1.87 | -5.56 | 74.77 | 0.14 | -6.67 | 27.27 | 18.26 | 3.75 | 11.89 | 53.30 | -44.33 | -47.63 | 57.65 | -8.24 | -43.91 | 42.35 | 10.12 | 1624.71 | 8.66 | 23.71 | -4.2 |
| 23Q2 (15) | 0.52 | 57.58 | 44.44 | 13.75 | 40.31 | -18.25 | 7.39 | 65.7 | -29.62 | 11.87 | 45.11 | 12.51 | 11.91 | 51.14 | 12.15 | 3.56 | 55.46 | 14.1 | 1.98 | 50.0 | 32.0 | 0.15 | 0.0 | 15.38 | 17.60 | 24.82 | -4.92 | 95.75 | 3.33 | -38.96 | 62.82 | 14.42 | -37.18 | 38.46 | -14.72 | 0 | 7.00 | 8.02 | -15.87 |
| 23Q1 (14) | 0.33 | 22.22 | 22.22 | 9.80 | -7.11 | -35.06 | 4.46 | -14.89 | -45.14 | 8.18 | 37.02 | -17.79 | 7.88 | 31.99 | -19.59 | 2.29 | 33.14 | -2.14 | 1.32 | 30.69 | 6.45 | 0.15 | 7.14 | 25.0 | 14.10 | 18.49 | -13.07 | 92.66 | -4.27 | -12.43 | 54.90 | -38.01 | -32.9 | 45.10 | 294.61 | 148.04 | 6.48 | -19.1 | -20.1 |
| 22Q4 (13) | 0.27 | 0.0 | 12.5 | 10.55 | -33.73 | -26.17 | 5.24 | -38.79 | 51.01 | 5.97 | -28.42 | -16.85 | 5.97 | -25.0 | -16.85 | 1.72 | -14.43 | -16.91 | 1.01 | -5.61 | -9.82 | 0.14 | 27.27 | 0.0 | 11.90 | -27.08 | -4.8 | 96.79 | -4.9 | -8.34 | 88.57 | -13.82 | 77.14 | 11.43 | 511.43 | -78.67 | 8.01 | -11.39 | 5.95 |
| 22Q3 (12) | 0.27 | -25.0 | 107.69 | 15.92 | -5.35 | 86.2 | 8.56 | -18.48 | 255.19 | 8.34 | -20.95 | 83.3 | 7.96 | -25.05 | 57.31 | 2.01 | -35.58 | 66.12 | 1.07 | -28.67 | 59.7 | 0.11 | -15.38 | -8.33 | 16.32 | -11.83 | 53.1 | 101.78 | -35.11 | -0.62 | 102.78 | 2.78 | 92.71 | -2.78 | 0 | -105.95 | 9.04 | 8.65 | 33.53 |
| 22Q2 (11) | 0.36 | 33.33 | 800.0 | 16.82 | 11.46 | 132.96 | 10.50 | 29.15 | 14900.0 | 10.55 | 6.03 | 551.23 | 10.62 | 8.37 | 338.84 | 3.12 | 33.33 | 642.86 | 1.50 | 20.97 | 435.71 | 0.13 | 8.33 | 62.5 | 18.51 | 14.12 | 76.29 | 156.86 | 48.25 | 45.88 | 100.00 | 22.22 | 0 | 0.00 | -100.0 | -100.0 | 8.32 | 2.59 | -5.24 |
| 22Q1 (10) | 0.27 | 12.5 | 575.0 | 15.09 | 5.6 | 316.85 | 8.13 | 134.29 | 295.9 | 9.95 | 38.58 | 252.84 | 9.80 | 36.49 | 274.05 | 2.34 | 13.04 | 408.7 | 1.24 | 10.71 | 300.0 | 0.12 | -14.29 | 50.0 | 16.22 | 29.76 | 16.11 | 105.81 | 0.2 | -3.26 | 81.82 | 63.64 | 158.44 | 18.18 | -66.06 | -92.42 | 8.11 | 7.28 | -12.89 |
| 21Q4 (9) | 0.24 | 84.62 | 242.86 | 14.29 | 67.13 | 54.99 | 3.47 | 43.98 | 42.8 | 7.18 | 57.8 | 114.33 | 7.18 | 41.9 | 127.94 | 2.07 | 71.07 | 187.5 | 1.12 | 67.16 | 166.67 | 0.14 | 16.67 | 55.56 | 12.50 | 17.26 | 29.8 | 105.60 | 3.1 | -30.22 | 50.00 | -6.25 | -40.0 | 53.57 | 14.8 | 60.71 | 7.56 | 11.67 | -5.62 |
| 21Q3 (8) | 0.13 | 225.0 | -55.17 | 8.55 | 18.42 | -37.86 | 2.41 | 3342.86 | -67.21 | 4.55 | 180.86 | -60.98 | 5.06 | 109.09 | -57.12 | 1.21 | 188.1 | -60.71 | 0.67 | 139.29 | -51.45 | 0.12 | 50.0 | 9.09 | 10.66 | 1.52 | -39.02 | 102.42 | -4.75 | -28.44 | 53.33 | 0 | -14.67 | 46.67 | -37.78 | 24.44 | 6.77 | -22.89 | 10.08 |
| 21Q2 (7) | 0.04 | 0.0 | -60.0 | 7.22 | 99.45 | 69.88 | 0.07 | 101.69 | 101.37 | 1.62 | -42.55 | -66.67 | 2.42 | -7.63 | -54.77 | 0.42 | -8.7 | -61.82 | 0.28 | -9.68 | -50.0 | 0.08 | 0.0 | 0.0 | 10.50 | -24.84 | -17.06 | 107.53 | -1.68 | -28.27 | 0.00 | 100.0 | 100.0 | 75.00 | -68.75 | -62.5 | 8.78 | -5.69 | 6.81 |
| 21Q1 (6) | 0.04 | -42.86 | 166.67 | 3.62 | -60.74 | 13.12 | -4.15 | -270.78 | -33.87 | 2.82 | -15.82 | 256.67 | 2.62 | -16.83 | 219.09 | 0.46 | -36.11 | 169.7 | 0.31 | -26.19 | 410.0 | 0.08 | -11.11 | -33.33 | 13.97 | 45.07 | 267.63 | 109.37 | -27.73 | -31.79 | -140.00 | -268.0 | -180.0 | 240.00 | 620.0 | 420.0 | 9.31 | 16.23 | 76.33 |
| 20Q4 (5) | 0.07 | -75.86 | 124.14 | 9.22 | -32.99 | 472.67 | 2.43 | -66.94 | 134.23 | 3.35 | -71.27 | 130.02 | 3.15 | -73.31 | 128.35 | 0.72 | -76.62 | 125.44 | 0.42 | -69.57 | 143.75 | 0.09 | -18.18 | -18.18 | 9.63 | -44.91 | 329.83 | 151.34 | 5.74 | -0.32 | 83.33 | 33.33 | 33.33 | 33.33 | -11.11 | -11.11 | 8.01 | 30.24 | 33.72 |
| 20Q3 (4) | 0.29 | 190.0 | 0.0 | 13.76 | 223.76 | 0.0 | 7.35 | 243.84 | 0.0 | 11.66 | 139.92 | 0.0 | 11.80 | 120.56 | 0.0 | 3.08 | 180.0 | 0.0 | 1.38 | 146.43 | 0.0 | 0.11 | 37.5 | 0.0 | 17.48 | 38.07 | 0.0 | 143.13 | -4.52 | 0.0 | 62.50 | 162.5 | 0.0 | 37.50 | -81.25 | 0.0 | 6.15 | -25.18 | 0.0 |
| 20Q2 (3) | 0.10 | 266.67 | 0.0 | 4.25 | 32.81 | 0.0 | -5.11 | -64.84 | 0.0 | 4.86 | 370.0 | 0.0 | 5.35 | 343.18 | 0.0 | 1.10 | 266.67 | 0.0 | 0.56 | 660.0 | 0.0 | 0.08 | -33.33 | 0.0 | 12.66 | 233.16 | 0.0 | 149.90 | -6.52 | 0.0 | -100.00 | -157.14 | 0.0 | 200.00 | 366.67 | 0.0 | 8.22 | 55.68 | 0.0 |
| 20Q1 (2) | -0.06 | 79.31 | 0.0 | 3.20 | 98.76 | 0.0 | -3.10 | 56.34 | 0.0 | -1.80 | 83.87 | 0.0 | -2.20 | 80.2 | 0.0 | -0.66 | 76.68 | 0.0 | -0.10 | 89.58 | 0.0 | 0.12 | 9.09 | 0.0 | 3.80 | 190.69 | 0.0 | 160.35 | 5.61 | 0.0 | 175.00 | 180.0 | 0.0 | -75.00 | -300.0 | 0.0 | 5.28 | -11.85 | 0.0 |
| 19Q4 (1) | -0.29 | 0.0 | 0.0 | 1.61 | 0.0 | 0.0 | -7.10 | 0.0 | 0.0 | -11.16 | 0.0 | 0.0 | -11.11 | 0.0 | 0.0 | -2.83 | 0.0 | 0.0 | -0.96 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | -4.19 | 0.0 | 0.0 | 151.83 | 0.0 | 0.0 | 62.50 | 0.0 | 0.0 | 37.50 | 0.0 | 0.0 | 5.99 | 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) | 3.01 | 168.75 | 13.00 | -8.39 | 6.48 | -17.24 | 4.37 | -21.09 | 18.41 | 119.95 | 18.27 | 120.92 | 17.18 | 102.12 | 11.15 | 129.42 | 0.58 | 13.73 | 23.84 | 54.6 | 41.82 | -56.79 | 35.18 | -62.54 | 64.82 | 859.37 | 0.19 | 0 | 7.76 | -7.07 |
| 2022 (9) | 1.12 | 143.48 | 14.19 | 49.05 | 7.83 | 521.43 | 5.53 | -9.75 | 8.37 | 81.17 | 8.27 | 68.78 | 8.50 | 72.06 | 4.86 | 86.21 | 0.51 | 13.33 | 15.42 | 29.58 | 96.79 | -8.34 | 93.92 | 242.13 | 6.76 | -90.69 | 0.00 | 0 | 8.35 | 6.23 |
| 2021 (8) | 0.46 | 12.2 | 9.52 | 25.26 | 1.26 | 133.33 | 6.13 | 38.05 | 4.62 | 7.94 | 4.90 | 15.29 | 4.94 | 21.38 | 2.61 | 21.96 | 0.45 | 18.42 | 11.90 | 14.31 | 105.60 | -30.22 | 27.45 | 133.33 | 72.55 | -14.94 | 0.00 | 0 | 7.86 | 16.44 |
| 2020 (7) | 0.41 | 0 | 7.60 | 623.81 | 0.54 | 0 | 4.44 | -3.76 | 4.28 | 0 | 4.25 | 0 | 4.07 | 0 | 2.14 | 0 | 0.38 | -7.32 | 10.41 | 4237.5 | 151.34 | -0.32 | 11.76 | -85.78 | 85.29 | 394.71 | 0.00 | 0 | 6.75 | 11.39 |
| 2019 (6) | -0.72 | 0 | 1.05 | -11.76 | -5.66 | 0 | 4.62 | -37.23 | -6.87 | 0 | -6.93 | 0 | -6.89 | 0 | -2.02 | 0 | 0.41 | 64.0 | 0.24 | 0 | 151.83 | 16.76 | 82.76 | -4.83 | 17.24 | 32.18 | 0.00 | 0 | 6.06 | -44.56 |
| 2018 (5) | -0.84 | 0 | 1.19 | -60.33 | -11.09 | 0 | 7.35 | 67.37 | -12.67 | 0 | -12.69 | 0 | -7.32 | 0 | -2.34 | 0 | 0.25 | -43.18 | -1.10 | 0 | 130.04 | -4.09 | 86.96 | 65.63 | 13.04 | -72.54 | 0.00 | 0 | 10.93 | 87.8 |
| 2017 (4) | -0.96 | 0 | 3.00 | -68.29 | -4.39 | 0 | 4.39 | -26.31 | -8.41 | 0 | -8.36 | 0 | -7.61 | 0 | -2.86 | 0 | 0.44 | 46.67 | -1.67 | 0 | 135.59 | 77.5 | 52.50 | -82.5 | 47.50 | 0 | 0.00 | 0 | 5.82 | -20.71 |
| 2016 (3) | 0.02 | 0 | 9.46 | 0 | 1.59 | 0 | 5.96 | -55.39 | 0.56 | 0 | 0.26 | 0 | 0.16 | 0 | 0.79 | 0 | 0.30 | -6.25 | 9.49 | 65.33 | 76.39 | -43.3 | 300.00 | 249.48 | -200.00 | 0 | 0.00 | 0 | 7.34 | -18.26 |
| 2015 (2) | -1.12 | 0 | -0.78 | 0 | -9.59 | 0 | 13.37 | 36.61 | -11.20 | 0 | -11.32 | 0 | -8.48 | 0 | -2.73 | 0 | 0.32 | -8.57 | 5.74 | -26.5 | 134.72 | 4.25 | 85.84 | 7.3 | 14.16 | -35.1 | 0.00 | 0 | 8.98 | -21.3 |
| 2014 (1) | -0.57 | 0 | 5.92 | 0 | -3.92 | 0 | 9.78 | 7.92 | -4.98 | 0 | -4.65 | 0 | -3.94 | 0 | -0.79 | 0 | 0.35 | 2.94 | 7.81 | 0 | 129.23 | -19.26 | 80.00 | -3.13 | 21.82 | 29.45 | 0.00 | 0 | 11.41 | -0.78 |
