- 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) | 0.10 | -33.33 | -23.08 | 32.45 | 6.95 | 20.68 | 10.57 | 28.9 | 353.65 | 10.72 | -37.05 | -18.11 | 12.02 | -23.24 | -1.56 | 0.77 | -28.7 | -20.62 | 0.65 | -27.78 | -19.75 | 0.05 | 0.0 | -16.67 | 16.61 | -25.98 | -7.41 | 23.37 | -21.21 | -13.54 | 96.67 | 101.07 | 443.75 | 0.00 | -100.0 | -100.0 | 8.67 | -14.33 | -27.99 |
| 24Q2 (19) | 0.15 | -16.67 | 25.0 | 30.34 | -4.41 | 16.92 | 8.20 | -11.45 | 338.5 | 17.03 | -20.64 | 25.78 | 15.66 | -22.13 | 28.68 | 1.08 | -17.56 | 22.73 | 0.90 | -17.43 | 21.62 | 0.05 | 0.0 | -16.67 | 22.44 | -18.28 | 17.92 | 29.66 | 22.46 | 4.58 | 48.08 | 12.8 | 236.54 | 51.92 | -9.51 | -39.42 | 10.12 | -0.88 | -0.3 |
| 24Q1 (18) | 0.18 | 100.0 | 50.0 | 31.74 | 16.99 | 7.52 | 9.26 | 8.56 | 50.32 | 21.46 | 215.59 | 71.41 | 20.11 | 151.06 | 66.89 | 1.31 | 84.51 | 40.86 | 1.09 | 81.67 | 39.74 | 0.05 | -28.57 | -16.67 | 27.46 | 143.87 | 53.15 | 24.22 | -7.98 | -4.61 | 42.62 | -66.42 | -12.62 | 57.38 | 313.11 | 12.02 | 10.21 | 83.96 | 2.82 |
| 23Q4 (17) | 0.09 | -30.77 | 80.0 | 27.13 | 0.89 | -4.17 | 8.53 | 266.09 | 8.11 | 6.80 | -48.05 | 87.85 | 8.01 | -34.4 | 107.51 | 0.71 | -26.8 | 97.22 | 0.60 | -25.93 | 87.5 | 0.07 | 16.67 | 0.0 | 11.26 | -37.24 | 33.73 | 26.32 | -2.63 | -5.43 | 126.92 | 613.94 | -42.68 | -26.92 | -132.74 | 77.83 | 5.55 | -53.9 | -28.94 |
| 23Q3 (16) | 0.13 | 8.33 | 160.0 | 26.89 | 3.62 | 6.37 | 2.33 | 24.6 | -31.87 | 13.09 | -3.32 | 150.77 | 12.21 | 0.33 | 175.62 | 0.97 | 10.23 | 130.95 | 0.81 | 9.46 | 131.43 | 0.06 | 0.0 | -14.29 | 17.94 | -5.73 | 75.88 | 27.03 | -4.69 | -1.39 | 17.78 | 24.44 | -72.65 | 82.22 | -4.07 | 134.92 | 12.04 | 18.62 | 56.77 |
| 23Q2 (15) | 0.12 | 0.0 | 71.43 | 25.95 | -12.09 | -10.49 | 1.87 | -69.64 | -69.98 | 13.54 | 8.15 | 118.04 | 12.17 | 1.0 | 126.21 | 0.88 | -5.38 | 79.59 | 0.74 | -5.13 | 80.49 | 0.06 | 0.0 | -14.29 | 19.03 | 6.13 | 66.64 | 28.36 | 11.7 | -21.61 | 14.29 | -70.71 | -86.29 | 85.71 | 67.35 | 0 | 10.15 | 2.22 | 35.7 |
| 23Q1 (14) | 0.12 | 140.0 | 71.43 | 29.52 | 4.27 | 2.39 | 6.16 | -21.93 | 18.92 | 12.52 | 245.86 | 87.14 | 12.05 | 212.18 | 100.5 | 0.93 | 158.33 | 75.47 | 0.78 | 143.75 | 77.27 | 0.06 | -14.29 | -14.29 | 17.93 | 112.95 | 49.54 | 25.39 | -8.77 | -6.65 | 48.78 | -77.97 | -36.59 | 51.22 | 142.18 | 121.95 | 9.93 | 27.14 | 21.39 |
| 22Q4 (13) | 0.05 | 0.0 | -93.42 | 28.31 | 11.99 | 13.83 | 7.89 | 130.7 | 252.91 | 3.62 | -30.65 | -93.34 | 3.86 | -12.87 | -92.6 | 0.36 | -14.29 | -93.72 | 0.32 | -8.57 | -92.4 | 0.07 | 0.0 | -12.5 | 8.42 | -17.45 | -85.71 | 27.83 | 1.53 | -4.98 | 221.43 | 240.66 | 2461.9 | -121.43 | -446.94 | -211.02 | 7.81 | 1.69 | -51.88 |
| 22Q3 (12) | 0.05 | -28.57 | -44.44 | 25.28 | -12.8 | -18.61 | 3.42 | -45.1 | -55.87 | 5.22 | -15.94 | -34.75 | 4.43 | -17.66 | -36.89 | 0.42 | -14.29 | -41.67 | 0.35 | -14.63 | -33.96 | 0.07 | 0.0 | 0.0 | 10.20 | -10.68 | -19.56 | 27.41 | -24.24 | -39.32 | 65.00 | -37.6 | -33.03 | 35.00 | 0 | 1090.0 | 7.68 | 2.67 | 5.35 |
| 22Q2 (11) | 0.07 | 0.0 | 200.0 | 28.99 | 0.55 | -1.8 | 6.23 | 20.27 | 246.93 | 6.21 | -7.17 | 209.14 | 5.38 | -10.48 | 200.94 | 0.49 | -7.55 | 192.45 | 0.41 | -6.82 | 220.59 | 0.07 | 0.0 | 0.0 | 11.42 | -4.75 | 4858.33 | 36.18 | 33.01 | -18.22 | 104.17 | 35.42 | 38.89 | 0.00 | -100.0 | -100.0 | 7.48 | -8.56 | -62.24 |
| 22Q1 (10) | 0.07 | -90.79 | -12.5 | 28.83 | 15.92 | 5.07 | 5.18 | 200.39 | 56.97 | 6.69 | -87.7 | 10.76 | 6.01 | -88.48 | 4.7 | 0.53 | -90.75 | -15.87 | 0.44 | -89.55 | -4.35 | 0.07 | -12.5 | -12.5 | 11.99 | -79.66 | 10.51 | 27.20 | -7.14 | -34.58 | 76.92 | 920.51 | 43.59 | 23.08 | -78.9 | -50.3 | 8.18 | -49.6 | -8.5 |
| 21Q4 (9) | 0.76 | 744.44 | 1800.0 | 24.87 | -19.93 | 6.1 | -5.16 | -166.58 | -714.29 | 54.39 | 579.88 | 2592.57 | 52.16 | 643.02 | 1846.27 | 5.73 | 695.83 | 1748.39 | 4.21 | 694.34 | 1654.17 | 0.08 | 14.29 | 0.0 | 58.94 | 364.83 | 760.44 | 29.29 | -35.16 | -30.54 | -9.38 | -109.66 | -123.44 | 109.38 | 3618.75 | 82.29 | 16.23 | 122.63 | 143.33 |
| 21Q3 (8) | 0.09 | 228.57 | 28.57 | 31.06 | 5.22 | 9.87 | 7.75 | 282.78 | 94.24 | 8.00 | 240.6 | 82.65 | 7.02 | 231.71 | 55.31 | 0.72 | 235.85 | 33.33 | 0.53 | 255.88 | 39.47 | 0.07 | 0.0 | -12.5 | 12.68 | 5383.33 | 45.08 | 45.17 | 2.1 | -2.92 | 97.06 | 29.41 | 6.3 | 2.94 | -88.24 | -66.18 | 7.29 | -63.2 | -26.21 |
| 21Q2 (7) | -0.07 | -187.5 | -200.0 | 29.52 | 7.58 | 7.78 | -4.24 | -228.48 | -183.3 | -5.69 | -194.21 | -172.21 | -5.33 | -192.86 | -204.92 | -0.53 | -184.13 | -196.36 | -0.34 | -173.91 | -182.93 | 0.07 | -12.5 | 0.0 | -0.24 | -102.21 | -101.94 | 44.24 | 6.4 | -17.08 | 75.00 | 40.0 | 15.38 | 25.00 | -46.15 | -28.57 | 19.81 | 121.59 | 0 |
| 21Q1 (6) | 0.08 | 100.0 | 60.0 | 27.44 | 17.06 | -0.47 | 3.30 | 292.86 | -51.9 | 6.04 | 199.01 | 104.75 | 5.74 | 114.18 | 96.58 | 0.63 | 103.23 | 85.29 | 0.46 | 91.67 | 58.62 | 0.08 | 0.0 | -11.11 | 10.85 | 58.39 | 54.56 | 41.58 | -1.4 | 4.79 | 53.57 | 33.93 | -76.65 | 46.43 | -22.62 | 135.88 | 8.94 | 34.03 | 0 |
| 20Q4 (5) | 0.04 | -42.86 | -97.87 | 23.44 | -17.09 | 5.11 | 0.84 | -78.95 | 105.12 | 2.02 | -53.88 | -98.47 | 2.68 | -40.71 | -97.85 | 0.31 | -42.59 | -98.04 | 0.24 | -36.84 | -97.96 | 0.08 | 0.0 | -11.11 | 6.85 | -21.62 | -95.03 | 42.17 | -9.37 | 44.52 | 40.00 | -56.19 | 421.22 | 60.00 | 590.0 | -46.58 | 6.67 | -32.49 | -65.97 |
| 20Q3 (4) | 0.07 | 0.0 | 0.0 | 28.27 | 3.21 | 0.0 | 3.99 | -21.61 | 0.0 | 4.38 | -44.42 | 0.0 | 4.52 | -11.02 | 0.0 | 0.54 | -1.82 | 0.0 | 0.38 | -7.32 | 0.0 | 0.08 | 14.29 | 0.0 | 8.74 | -29.52 | 0.0 | 46.53 | -12.78 | 0.0 | 91.30 | 40.47 | 0.0 | 8.70 | -75.16 | 0.0 | 9.88 | 0 | 0.0 |
| 20Q2 (3) | 0.07 | 40.0 | 0.0 | 27.39 | -0.65 | 0.0 | 5.09 | -25.8 | 0.0 | 7.88 | 167.12 | 0.0 | 5.08 | 73.97 | 0.0 | 0.55 | 61.76 | 0.0 | 0.41 | 41.38 | 0.0 | 0.07 | -22.22 | 0.0 | 12.40 | 76.64 | 0.0 | 53.35 | 34.45 | 0.0 | 65.00 | -71.67 | 0.0 | 35.00 | 127.05 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 0.05 | -97.34 | 0.0 | 27.57 | 23.63 | 0.0 | 6.86 | 141.78 | 0.0 | 2.95 | -97.77 | 0.0 | 2.92 | -97.66 | 0.0 | 0.34 | -97.85 | 0.0 | 0.29 | -97.54 | 0.0 | 0.09 | 0.0 | 0.0 | 7.02 | -94.91 | 0.0 | 39.68 | 35.98 | 0.0 | 229.41 | 1942.32 | 0.0 | -129.41 | -215.21 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 1.88 | 0.0 | 0.0 | 22.30 | 0.0 | 0.0 | -16.42 | 0.0 | 0.0 | 132.26 | 0.0 | 0.0 | 124.53 | 0.0 | 0.0 | 15.81 | 0.0 | 0.0 | 11.78 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 137.82 | 0.0 | 0.0 | 29.18 | 0.0 | 0.0 | -12.45 | 0.0 | 0.0 | 112.33 | 0.0 | 0.0 | 19.60 | 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) | 0.46 | 91.67 | 27.38 | -1.69 | 4.89 | -13.91 | 3.97 | -5.62 | 11.29 | 107.54 | 10.98 | 123.17 | 3.50 | 94.44 | 2.93 | 92.76 | 0.25 | -10.71 | 16.31 | 55.19 | 26.32 | -5.43 | 43.51 | -58.45 | 56.49 | 0 | 0.00 | 0 | 9.28 | 19.13 |
| 2022 (9) | 0.24 | -72.09 | 27.85 | -0.96 | 5.68 | 1570.59 | 4.20 | 9.92 | 5.44 | -67.05 | 4.92 | -68.64 | 1.80 | -72.22 | 1.52 | -68.92 | 0.28 | -6.67 | 10.51 | -50.82 | 27.83 | -4.98 | 104.71 | 5030.59 | -4.71 | 0 | 0.00 | 0 | 7.79 | -40.31 |
| 2021 (8) | 0.86 | 273.91 | 28.12 | 5.16 | 0.34 | -92.13 | 3.82 | 10.17 | 16.51 | 283.95 | 15.69 | 313.98 | 6.48 | 274.57 | 4.89 | 249.29 | 0.30 | -11.76 | 21.37 | 143.39 | 29.29 | -30.54 | 2.04 | -97.98 | 97.96 | 0 | 0.00 | 0 | 13.05 | 53.89 |
| 2020 (7) | 0.23 | -88.14 | 26.74 | 0.83 | 4.32 | 0 | 3.47 | 38.51 | 4.30 | -87.5 | 3.79 | -88.3 | 1.73 | -89.35 | 1.40 | -89.41 | 0.34 | -15.0 | 8.78 | -77.09 | 42.17 | 44.52 | 101.12 | 0 | 0.00 | 0 | 0.00 | 0 | 8.48 | -18.23 |
| 2019 (6) | 1.94 | 1041.18 | 26.52 | 15.56 | -0.63 | 0 | 2.51 | 20.31 | 34.40 | 3114.95 | 32.40 | 2119.18 | 16.24 | 2155.56 | 13.22 | 2303.64 | 0.40 | 8.11 | 38.32 | 973.39 | 29.18 | 31.5 | -1.85 | 0 | 101.85 | -81.41 | 0.00 | 0 | 10.37 | 7.91 |
| 2018 (5) | 0.17 | -89.03 | 22.95 | 21.49 | -4.76 | 0 | 2.08 | -21.7 | 1.07 | -95.58 | 1.46 | -93.28 | 0.72 | -94.34 | 0.55 | -93.66 | 0.37 | -5.13 | 3.57 | -87.05 | 22.19 | -49.22 | -448.00 | 0 | 548.00 | 326.29 | 0.00 | 0 | 9.61 | -9.25 |
| 2017 (4) | 1.55 | 0 | 18.89 | -12.22 | -6.90 | 0 | 2.66 | -37.54 | 24.21 | 0 | 21.73 | 0 | 12.71 | 0 | 8.67 | 0 | 0.39 | 2.63 | 27.57 | 0 | 43.70 | -24.46 | -28.55 | 0 | 128.55 | 33.44 | 0.00 | 0 | 10.59 | 33.21 |
| 2016 (3) | -2.15 | 0 | 21.52 | -9.04 | -1.18 | 0 | 4.26 | -14.48 | -32.65 | 0 | -32.06 | 0 | -18.17 | 0 | -11.93 | 0 | 0.38 | 11.76 | -27.43 | 0 | 57.85 | 36.89 | 3.66 | -97.93 | 96.34 | 0 | 0.00 | 0 | 7.95 | 0.13 |
| 2015 (2) | 0.03 | 0 | 23.66 | 4.05 | 2.23 | 0.0 | 4.98 | -21.8 | 1.28 | 0 | 0.45 | 0 | 0.23 | 0 | 1.39 | 0 | 0.34 | 9.68 | 11.04 | 0 | 42.26 | -30.57 | 176.47 | 0 | -73.53 | 0 | 0.00 | 0 | 7.94 | 9.97 |
| 2014 (1) | -0.69 | 0 | 22.74 | 0 | 2.23 | 0 | 6.37 | 0.02 | -10.42 | 0 | -9.68 | 0 | -5.06 | 0 | -2.46 | 0 | 0.31 | -3.13 | -1.79 | 0 | 60.87 | -24.3 | -21.48 | 0 | 121.48 | 56.79 | 0.00 | 0 | 7.22 | 6.18 |
