- 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) | -0.38 | -163.33 | -153.33 | 0.58 | 103.15 | -98.0 | -46.92 | 24.32 | -530.65 | -56.40 | -159.9 | -215.08 | -50.90 | -165.42 | -221.95 | -3.48 | -163.62 | -154.01 | -1.07 | -138.49 | -311.54 | 0.03 | 0.0 | -25.0 | -16.28 | -112.23 | -249.22 | 137.70 | 5.53 | 3.86 | 83.56 | 227.38 | 101.94 | 16.44 | -90.12 | -71.96 | 50.60 | -4.89 | 17.37 |
| 23Q4 (19) | 0.60 | 645.45 | 361.54 | -18.42 | -214.13 | -185.0 | -62.00 | -3657.58 | -197.22 | 94.16 | 9153.85 | 877.78 | 77.81 | 1884.63 | 636.84 | 5.47 | 631.07 | 384.07 | 2.78 | 7050.0 | 243.21 | 0.03 | -70.0 | -40.0 | 133.08 | 1218.93 | 297.25 | 130.48 | -6.77 | 0.21 | -65.60 | -146.86 | 69.49 | 166.40 | 377.33 | -47.17 | 53.20 | 260.68 | 24.53 |
| 23Q3 (18) | -0.11 | 35.29 | -147.83 | 16.14 | -17.48 | -33.28 | -1.65 | 52.17 | -124.19 | -1.04 | 90.74 | -110.81 | -4.36 | 51.5 | -146.73 | -1.03 | 30.41 | -151.24 | -0.04 | 84.62 | -103.6 | 0.10 | 42.86 | 11.11 | 10.09 | 123.23 | -51.93 | 139.95 | -1.62 | 4.69 | 140.00 | 345.45 | 95.0 | -60.00 | -187.5 | -312.73 | 14.75 | -50.59 | -16.9 |
| 23Q2 (17) | -0.17 | -13.33 | -173.91 | 19.56 | -32.46 | -8.21 | -3.45 | 53.63 | -145.22 | -11.23 | 37.26 | -239.68 | -8.99 | 43.14 | -231.05 | -1.48 | -8.03 | -166.67 | -0.26 | 0.0 | -122.81 | 0.07 | 75.0 | -46.15 | 4.52 | -58.57 | -69.27 | 142.25 | 7.29 | -3.36 | 31.43 | -24.05 | -67.14 | 68.57 | 16.97 | 1477.14 | 29.85 | -30.76 | 58.44 |
| 23Q1 (16) | -0.15 | -215.38 | -287.5 | 28.96 | 33.64 | -17.07 | -7.44 | 64.33 | -242.26 | -17.90 | -285.88 | -535.52 | -15.81 | -249.72 | -371.18 | -1.37 | -221.24 | -290.28 | -0.26 | -132.1 | -155.32 | 0.04 | -20.0 | -20.0 | 10.91 | -67.43 | -45.96 | 132.58 | 1.82 | -6.42 | 41.38 | 119.25 | -66.14 | 58.62 | -81.39 | 363.79 | 43.11 | 0.91 | 9.31 |
| 22Q4 (15) | 0.13 | -43.48 | -40.91 | 21.67 | -10.42 | 140.78 | -20.86 | -405.87 | 8.99 | 9.63 | 0.1 | -64.2 | 10.56 | 13.18 | -39.97 | 1.13 | -43.78 | -46.19 | 0.81 | -27.03 | -21.36 | 0.05 | -44.44 | 0.0 | 33.50 | 59.6 | -23.66 | 130.21 | -2.6 | -6.63 | -215.00 | -399.46 | -153.22 | 315.00 | 1016.82 | 70.36 | 42.72 | 140.68 | 37.32 |
| 22Q3 (14) | 0.23 | 0.0 | -14.81 | 24.19 | 13.51 | 38.55 | 6.82 | -10.62 | -21.61 | 9.62 | 19.65 | 13.18 | 9.33 | 36.01 | 41.79 | 2.01 | -9.46 | -24.15 | 1.11 | -2.63 | -9.76 | 0.09 | -30.77 | -43.75 | 20.99 | 42.69 | 52.43 | 133.68 | -9.18 | -11.88 | 71.79 | -24.94 | -30.77 | 28.21 | 548.72 | 1623.08 | 17.75 | -5.79 | 39.98 |
| 22Q2 (13) | 0.23 | 187.5 | 0 | 21.31 | -38.97 | -7.55 | 7.63 | 45.89 | 79.53 | 8.04 | 95.62 | 532.26 | 6.86 | 17.67 | 3018.18 | 2.22 | 208.33 | 5450.0 | 1.14 | 142.55 | 442.86 | 0.13 | 160.0 | 85.71 | 14.71 | -27.14 | 22.28 | 147.19 | 3.9 | -4.19 | 95.65 | -21.74 | 139.86 | 4.35 | 119.57 | -98.79 | 18.84 | -52.23 | -40.04 |
| 22Q1 (12) | 0.08 | -63.64 | 157.14 | 34.92 | 288.0 | 105.65 | 5.23 | 122.82 | 150.63 | 4.11 | -84.72 | 125.21 | 5.83 | -66.86 | 156.77 | 0.72 | -65.71 | 152.55 | 0.47 | -54.37 | 227.03 | 0.05 | 0.0 | 0.0 | 20.19 | -53.99 | 723.15 | 141.67 | 1.58 | -3.28 | 122.22 | 243.95 | 94.44 | -22.22 | -112.02 | -159.83 | 39.44 | 26.78 | 35.91 |
| 21Q4 (11) | 0.22 | -18.52 | 320.0 | 9.00 | -48.45 | 520.69 | -22.92 | -363.45 | 24.38 | 26.90 | 216.47 | 243.16 | 17.59 | 167.33 | 331.45 | 2.10 | -20.75 | 323.4 | 1.03 | -16.26 | 672.22 | 0.05 | -68.75 | 0.0 | 43.88 | 218.66 | 8855.1 | 139.46 | -8.07 | -5.45 | -84.91 | -181.87 | -152.89 | 184.91 | 10084.91 | 405.5 | 31.11 | 145.35 | -33.53 |
| 21Q3 (10) | 0.27 | 0 | -22.86 | 17.46 | -24.25 | 108.1 | 8.70 | 104.71 | 876.79 | 8.50 | 556.99 | -36.42 | 6.58 | 2890.91 | -24.97 | 2.65 | 6525.0 | -20.66 | 1.23 | 485.71 | -18.0 | 0.16 | 128.57 | 6.67 | 13.77 | 14.46 | -28.62 | 151.70 | -1.25 | 0.05 | 103.70 | 143.21 | 1329.63 | -1.85 | -100.51 | -101.71 | 12.68 | -59.64 | 306.41 |
| 21Q2 (9) | 0.00 | 100.0 | -100.0 | 23.05 | 35.75 | -6.64 | 4.25 | 141.14 | 5.72 | -1.86 | 88.59 | -151.81 | 0.22 | 102.14 | -31.25 | 0.04 | 102.92 | -20.0 | 0.21 | 156.76 | -4.55 | 0.07 | 40.0 | 0.0 | 12.03 | 471.3 | -32.07 | 153.62 | 4.88 | 0.22 | -240.00 | -481.82 | -318.18 | 360.00 | 869.23 | 3700.0 | 31.42 | 8.27 | 0 |
| 21Q1 (8) | -0.14 | -40.0 | 36.36 | 16.98 | 1071.03 | 2.41 | -10.33 | 65.92 | 47.51 | -16.30 | 13.25 | 50.99 | -10.27 | -35.13 | 54.6 | -1.37 | -45.74 | 33.17 | -0.37 | -105.56 | 37.29 | 0.05 | 0.0 | 25.0 | -3.24 | -761.22 | 31.06 | 146.47 | -0.7 | -1.68 | 62.86 | -60.84 | 8.37 | 37.14 | 161.37 | -7.14 | 29.02 | -37.99 | 0 |
| 20Q4 (7) | -0.10 | -128.57 | -162.5 | 1.45 | -82.72 | 108.75 | -30.31 | -2606.25 | 30.55 | -18.79 | -240.54 | -151.68 | -7.60 | -186.66 | -184.92 | -0.94 | -128.14 | -163.51 | -0.18 | -112.0 | -120.93 | 0.05 | -66.67 | -28.57 | 0.49 | -97.46 | -99.06 | 147.50 | -2.72 | 0.78 | 160.53 | 2003.38 | 233.34 | -60.53 | -155.82 | -127.46 | 46.80 | 1400.0 | 10.17 |
| 20Q3 (6) | 0.35 | 3400.0 | 0 | 8.39 | -66.02 | -36.96 | -1.12 | -127.86 | -165.88 | 13.37 | 272.42 | 1989.06 | 8.77 | 2640.62 | 12628.57 | 3.34 | 6580.0 | 16800.0 | 1.50 | 581.82 | 455.56 | 0.15 | 114.29 | 25.0 | 19.29 | 8.92 | 101.99 | 151.63 | -1.08 | 19.52 | -8.43 | -107.67 | -102.81 | 108.43 | 1184.34 | 165.06 | 3.12 | 0 | -84.59 |
| 20Q2 (5) | 0.01 | 104.55 | -95.83 | 24.69 | 48.91 | 66.49 | 4.02 | 120.43 | -32.44 | 3.59 | 110.79 | -28.49 | 0.32 | 101.41 | -93.18 | 0.05 | 102.44 | -97.67 | 0.22 | 137.29 | -81.03 | 0.07 | 75.0 | -63.16 | 17.71 | 476.81 | 63.53 | 153.28 | 2.89 | 5.28 | 110.00 | 89.66 | -6.38 | -10.00 | -125.0 | 42.86 | 0.00 | 0 | -100.0 |
| 20Q1 (4) | -0.22 | -237.5 | 0.0 | 16.58 | 200.0 | 0.0 | -19.68 | 54.9 | 0.0 | -33.26 | -191.47 | 0.0 | -22.62 | -352.74 | 0.0 | -2.05 | -238.51 | 0.0 | -0.59 | -168.6 | 0.0 | 0.04 | -42.86 | 0.0 | -4.70 | -108.99 | 0.0 | 148.97 | 1.78 | 0.0 | 58.00 | 148.18 | 0.0 | 40.00 | -81.85 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (3) | 0.16 | 0 | 0.0 | -16.58 | -224.57 | 0.0 | -43.64 | -2667.06 | 0.0 | 36.36 | 5581.25 | 0.0 | 8.95 | 12885.71 | 0.0 | 1.48 | 7500.0 | 0.0 | 0.86 | 218.52 | 0.0 | 0.07 | -41.67 | 0.0 | 52.30 | 447.64 | 0.0 | 146.36 | 15.36 | 0.0 | -120.39 | -140.13 | 0.0 | 220.39 | 232.23 | 0.0 | 42.48 | 109.78 | 0.0 |
| 19Q3 (2) | 0.00 | -100.0 | 0.0 | 13.31 | -10.25 | 0.0 | 1.70 | -71.43 | 0.0 | 0.64 | -87.25 | 0.0 | -0.07 | -101.49 | 0.0 | -0.02 | -100.93 | 0.0 | 0.27 | -76.72 | 0.0 | 0.12 | -36.84 | 0.0 | 9.55 | -11.82 | 0.0 | 126.87 | -12.86 | 0.0 | 300.00 | 155.32 | 0.0 | -166.67 | -852.38 | 0.0 | 20.25 | 109.63 | 0.0 |
| 19Q2 (1) | 0.24 | 0.0 | 0.0 | 14.83 | 0.0 | 0.0 | 5.95 | 0.0 | 0.0 | 5.02 | 0.0 | 0.0 | 4.69 | 0.0 | 0.0 | 2.15 | 0.0 | 0.0 | 1.16 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 10.83 | 0.0 | 0.0 | 145.59 | 0.0 | 0.0 | 117.50 | 0.0 | 0.0 | -17.50 | 0.0 | 0.0 | 9.66 | 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) | 0.18 | -72.73 | 14.79 | -38.99 | -10.70 | 0 | 10.54 | 33.3 | 5.33 | -34.6 | 2.86 | -64.12 | 1.59 | -74.44 | 2.26 | -38.75 | 0.24 | -27.27 | 24.12 | 19.82 | 130.48 | 0.21 | -201.79 | 0 | 301.79 | 360.83 | 0.28 | -6.9 | 28.48 | 13.24 |
| 2022 (9) | 0.66 | 88.57 | 24.24 | 39.63 | 2.81 | 5520.0 | 7.91 | 9.41 | 8.15 | 64.65 | 7.97 | 94.87 | 6.22 | 87.35 | 3.69 | 76.56 | 0.33 | 0.0 | 20.13 | 33.75 | 130.21 | -6.63 | 34.51 | 2177.88 | 65.49 | -34.51 | 0.30 | -15.31 | 25.15 | 14.01 |
| 2021 (8) | 0.35 | 775.0 | 17.36 | 47.24 | 0.05 | 0 | 7.23 | -20.36 | 4.95 | 1051.16 | 4.09 | 701.96 | 3.32 | 773.68 | 2.09 | 117.71 | 0.33 | 10.0 | 15.05 | 15.68 | 139.46 | -5.45 | 1.52 | 0 | 100.00 | -94.57 | 0.35 | -5.03 | 22.06 | -6.09 |
| 2020 (7) | 0.04 | -77.78 | 11.79 | 49.62 | -6.97 | 0 | 9.08 | 65.32 | 0.43 | -91.1 | 0.51 | -57.5 | 0.38 | -76.54 | 0.96 | -45.76 | 0.30 | -46.43 | 13.01 | 1.25 | 147.50 | 0.78 | -1740.00 | 0 | 1840.00 | 921.2 | 0.37 | 3.35 | 23.49 | 46.72 |
| 2019 (6) | 0.18 | 800.0 | 7.88 | -1.75 | -3.88 | 0 | 5.49 | 36.06 | 4.83 | 503.75 | 1.20 | 823.08 | 1.62 | 671.43 | 1.77 | 37.21 | 0.56 | -15.15 | 12.85 | 79.47 | 146.36 | 10.07 | -80.18 | 0 | 180.18 | -58.42 | 0.36 | -16.56 | 16.01 | 3.42 |
| 2018 (5) | 0.02 | 100.0 | 8.02 | -15.93 | -2.67 | 0 | 4.04 | -38.54 | 0.80 | -63.8 | 0.13 | 1200.0 | 0.21 | 2000.0 | 1.29 | 24.04 | 0.66 | 15.79 | 7.16 | -34.91 | 132.97 | -1.08 | -333.33 | 0 | 433.33 | 73.33 | 0.43 | 7.54 | 15.48 | 24.24 |
| 2017 (4) | 0.01 | -75.0 | 9.54 | -30.62 | -3.35 | 0 | 6.56 | -22.36 | 2.21 | 57.86 | 0.01 | -97.96 | 0.01 | -98.15 | 1.04 | -16.13 | 0.57 | -3.39 | 11.00 | -7.02 | 134.42 | 47.36 | -150.00 | 0 | 250.00 | 215.22 | 0.40 | 0 | 12.46 | 14.31 |
| 2016 (3) | 0.04 | 0 | 13.75 | 6.75 | 0.26 | 0 | 8.46 | -35.12 | 1.40 | 0 | 0.49 | 0 | 0.54 | 0 | 1.24 | 0 | 0.59 | 68.57 | 11.83 | 47.69 | 91.22 | 15.09 | 17.24 | -78.45 | 79.31 | 296.55 | 0.00 | 0 | 10.90 | -36.63 |
| 2015 (2) | -0.55 | 0 | 12.88 | 5.49 | -6.47 | 0 | 13.03 | 10.6 | -8.10 | 0 | -7.48 | 0 | -5.03 | 0 | -1.77 | 0 | 0.35 | -7.89 | 8.01 | 24.38 | 79.26 | -26.23 | 80.00 | 12.0 | 20.00 | -27.74 | 0.00 | 0 | 17.20 | 1.47 |
| 2014 (1) | -0.87 | 0 | 12.21 | 0 | -6.30 | 0 | 11.78 | 10.14 | -8.77 | 0 | -9.77 | 0 | -8.11 | 0 | -2.74 | 0 | 0.38 | -5.0 | 6.44 | 47.03 | 107.44 | -14.24 | 71.43 | -32.42 | 27.68 | 0 | 0.00 | 0 | 16.95 | -36.92 |
