- 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) | 0.77 | 492.31 | 10.0 | 7.98 | -18.4 | -18.4 | -2.76 | -936.36 | -851.72 | 16.28 | 500.74 | -22.25 | 13.38 | 513.76 | -21.75 | 4.24 | 488.89 | 4.43 | 2.75 | 472.92 | -3.85 | 0.20 | -9.09 | 17.65 | 18.85 | 242.73 | -20.4 | 58.90 | 15.42 | 50.06 | -16.90 | -236.35 | -1074.79 | 116.90 | 33.45 | 15.25 | 12.49 | 29.43 | 20.68 |
| 23Q4 (19) | 0.13 | 116.67 | 124.53 | 9.78 | -3.36 | 54.26 | 0.33 | -58.75 | 107.93 | 2.71 | 116.8 | 116.85 | 2.18 | 118.0 | 117.26 | 0.72 | 100.0 | 122.15 | 0.48 | 84.62 | 121.62 | 0.22 | -8.33 | 22.22 | 5.50 | 45.89 | 146.57 | 51.03 | -8.1 | 12.95 | 12.40 | -80.79 | -51.84 | 87.60 | 146.88 | 18.24 | 9.65 | -0.72 | 34.59 |
| 23Q3 (18) | 0.06 | 118.18 | -95.35 | 10.12 | 18.78 | 34.22 | 0.80 | 148.48 | 129.2 | 1.25 | 115.51 | -96.55 | 1.00 | 114.9 | -96.26 | 0.36 | 119.67 | -95.29 | 0.26 | 120.31 | -94.88 | 0.24 | 26.32 | 26.32 | 3.77 | 166.61 | -90.23 | 55.53 | 28.63 | 18.7 | 64.52 | 216.44 | 947.75 | 35.48 | -55.43 | -67.03 | 9.72 | -2.11 | 0.52 |
| 23Q2 (17) | -0.33 | -147.14 | 34.0 | 8.52 | -12.88 | -11.98 | -1.65 | -468.97 | -558.33 | -8.06 | -138.49 | 29.36 | -6.71 | -139.24 | 21.7 | -1.83 | -145.07 | 35.56 | -1.28 | -144.76 | 28.89 | 0.19 | 11.76 | -9.52 | -5.66 | -123.9 | 39.14 | 43.17 | 9.99 | -21.38 | 20.39 | 1516.99 | 753.7 | 79.61 | -21.52 | -22.8 | 9.93 | -4.06 | 6.2 |
| 23Q1 (16) | 0.70 | 232.08 | 117.81 | 9.78 | 54.26 | -19.51 | -0.29 | 93.03 | -134.94 | 20.94 | 230.22 | 124.54 | 17.10 | 235.39 | 125.2 | 4.06 | 224.92 | 121.03 | 2.86 | 228.83 | 123.46 | 0.17 | -5.56 | -5.56 | 23.68 | 300.51 | 128.47 | 39.25 | -13.13 | -32.58 | -1.44 | -105.59 | -50.2 | 101.44 | 36.92 | 0.48 | 10.35 | 44.35 | -4.96 |
| 22Q4 (15) | -0.53 | -141.09 | 22.06 | 6.34 | -15.92 | -31.31 | -4.16 | -51.82 | -347.62 | -16.08 | -144.42 | -68.73 | -12.63 | -147.23 | -45.67 | -3.25 | -142.54 | -2.85 | -2.22 | -143.7 | -11.0 | 0.18 | -5.26 | -21.74 | -11.81 | -130.62 | -63.12 | 45.18 | -3.42 | -22.64 | 25.74 | 438.22 | 246.1 | 74.09 | -31.15 | -37.01 | 7.17 | -25.85 | 25.57 |
| 22Q3 (14) | 1.29 | 358.0 | 1092.31 | 7.54 | -22.11 | -8.27 | -2.74 | -861.11 | -265.06 | 36.20 | 417.27 | 1848.79 | 26.74 | 412.02 | 1847.71 | 7.64 | 369.01 | 1440.35 | 5.08 | 382.22 | 1472.97 | 0.19 | -9.52 | -20.83 | 38.57 | 514.73 | 10813.89 | 46.78 | -14.81 | -16.24 | -7.61 | -144.0 | 90.59 | 107.61 | 4.36 | -40.51 | 9.67 | 3.42 | 81.43 |
| 22Q2 (13) | -0.50 | 87.28 | -150.0 | 9.68 | -20.33 | 17.76 | 0.36 | -56.63 | 12.5 | -11.41 | 86.63 | -154.83 | -8.57 | 87.37 | -151.5 | -2.84 | 85.29 | -162.14 | -1.80 | 85.23 | -158.25 | 0.21 | 16.67 | 10.53 | -9.30 | 88.82 | -139.81 | 54.91 | -5.69 | 7.0 | -3.12 | -225.58 | -310.63 | 103.12 | 2.14 | 4.67 | 9.35 | -14.14 | 90.43 |
| 22Q1 (12) | -3.93 | -477.94 | -165.5 | 12.15 | 31.64 | 82.43 | 0.83 | -50.6 | 106.69 | -85.33 | -795.38 | -163.75 | -67.85 | -682.58 | -162.95 | -19.31 | -511.08 | -159.53 | -12.19 | -509.5 | -155.74 | 0.18 | -21.74 | -10.0 | -83.17 | -1048.76 | -160.84 | 58.22 | -0.31 | 27.93 | -0.96 | 94.56 | 89.66 | 100.96 | -14.16 | -7.61 | 10.89 | 90.72 | -34.95 |
| 21Q4 (11) | -0.68 | -423.08 | -221.43 | 9.23 | 12.29 | 25.75 | 1.68 | 1.2 | 148.7 | -9.53 | -360.39 | -185.78 | -8.67 | -466.67 | -198.75 | -3.16 | -454.39 | -185.64 | -2.00 | -440.54 | -181.97 | 0.23 | -4.17 | -17.86 | -7.24 | -1911.11 | -152.89 | 58.40 | 4.57 | 11.41 | -17.62 | 78.22 | 43.19 | 117.62 | -34.98 | -10.22 | 5.71 | 7.13 | -49.56 |
| 21Q3 (10) | -0.13 | -113.0 | -143.33 | 8.22 | 0.0 | 5.12 | 1.66 | 418.75 | 196.51 | -2.07 | -109.95 | -132.75 | -1.53 | -109.19 | -127.92 | -0.57 | -112.47 | -127.01 | -0.37 | -111.97 | -125.34 | 0.24 | 26.32 | -7.69 | -0.36 | -101.54 | -103.97 | 55.85 | 8.83 | 6.93 | -80.88 | -5562.25 | -196.91 | 180.88 | 83.6 | 42.16 | 5.33 | 8.55 | -11.46 |
| 21Q2 (9) | 1.00 | -83.33 | 334.78 | 8.22 | 23.42 | -9.47 | 0.32 | 102.58 | 115.38 | 20.81 | -84.45 | 267.02 | 16.64 | -84.56 | 257.85 | 4.57 | -85.91 | 185.62 | 3.09 | -85.87 | 166.38 | 0.19 | -5.0 | -24.0 | 23.36 | -82.91 | 160.13 | 51.32 | 12.77 | 28.24 | 1.48 | 115.98 | 104.07 | 98.52 | -9.84 | -27.77 | 4.91 | -70.67 | 0 |
| 21Q1 (8) | 6.00 | 971.43 | 1600.0 | 6.66 | -9.26 | -15.7 | -12.41 | -259.71 | -70.7 | 133.85 | 1104.77 | 1234.32 | 107.78 | 1127.56 | 1094.28 | 32.44 | 779.13 | 1292.65 | 21.87 | 796.31 | 1239.06 | 0.20 | -28.57 | 11.11 | 136.71 | 898.61 | 2001.39 | 45.51 | -13.18 | 15.83 | -9.27 | 70.11 | -115.06 | 109.27 | -16.6 | 184.1 | 16.74 | 47.88 | 79.04 |
| 20Q4 (7) | 0.56 | 86.67 | 429.41 | 7.34 | -6.14 | -47.5 | -3.45 | -100.58 | -84.49 | 11.11 | 75.79 | 447.19 | 8.78 | 60.22 | 365.26 | 3.69 | 74.88 | 423.68 | 2.44 | 67.12 | 405.0 | 0.28 | 7.69 | 16.67 | 13.69 | 50.94 | 2181.67 | 52.42 | 0.36 | 21.48 | -31.01 | -13.84 | -152.6 | 131.01 | 2.96 | 213.49 | 11.32 | 88.04 | 0 |
| 20Q3 (6) | 0.30 | 30.43 | 2900.0 | 7.82 | -13.88 | -36.37 | -1.72 | 17.31 | -3.61 | 6.32 | 11.46 | 2772.73 | 5.48 | 17.85 | 1789.66 | 2.11 | 31.87 | 2244.44 | 1.46 | 25.86 | 1985.71 | 0.26 | 4.0 | 23.81 | 9.07 | 1.0 | 167.55 | 52.23 | 30.51 | 30.09 | -27.24 | 25.17 | 96.54 | 127.24 | -6.72 | -85.66 | 6.02 | 0 | -7.95 |
| 20Q2 (5) | 0.23 | 157.5 | 35.29 | 9.08 | 14.94 | -42.57 | -2.08 | 71.39 | -210.64 | 5.67 | 148.05 | 35.97 | 4.65 | 142.9 | 47.15 | 1.60 | 158.82 | 42.86 | 1.16 | 160.42 | 58.9 | 0.25 | 38.89 | 8.7 | 8.98 | 224.9 | 30.14 | 40.02 | 1.86 | -30.32 | -36.40 | -159.16 | -180.8 | 136.40 | 254.65 | 148.25 | 0.00 | -100.0 | -100.0 |
| 20Q1 (4) | -0.40 | -135.29 | 0.0 | 7.90 | -43.49 | 0.0 | -7.27 | -288.77 | 0.0 | -11.80 | -268.75 | 0.0 | -10.84 | -227.49 | 0.0 | -2.72 | -138.6 | 0.0 | -1.92 | -140.0 | 0.0 | 0.18 | -25.0 | 0.0 | -7.19 | -1298.33 | 0.0 | 39.29 | -8.95 | 0.0 | 61.54 | 4.38 | 0.0 | 38.46 | -7.97 | 0.0 | 9.35 | 0 | 0.0 |
| 19Q4 (3) | -0.17 | -1800.0 | 0.0 | 13.98 | 13.75 | 0.0 | -1.87 | -12.65 | 0.0 | -3.20 | -1554.55 | 0.0 | -3.31 | -1241.38 | 0.0 | -1.14 | -1366.67 | 0.0 | -0.80 | -1242.86 | 0.0 | 0.24 | 14.29 | 0.0 | 0.60 | -82.3 | 0.0 | 43.15 | 7.47 | 0.0 | 58.96 | 107.49 | 0.0 | 41.79 | -95.29 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (2) | 0.01 | -94.12 | 0.0 | 12.29 | -22.26 | 0.0 | -1.66 | -188.3 | 0.0 | 0.22 | -94.72 | 0.0 | 0.29 | -90.82 | 0.0 | 0.09 | -91.96 | 0.0 | 0.07 | -90.41 | 0.0 | 0.21 | -8.7 | 0.0 | 3.39 | -50.87 | 0.0 | 40.15 | -30.09 | 0.0 | -787.50 | -1847.87 | 0.0 | 887.50 | 1515.25 | 0.0 | 6.54 | -4.66 | 0.0 |
| 19Q2 (1) | 0.17 | 0.0 | 0.0 | 15.81 | 0.0 | 0.0 | 1.88 | 0.0 | 0.0 | 4.17 | 0.0 | 0.0 | 3.16 | 0.0 | 0.0 | 1.12 | 0.0 | 0.0 | 0.73 | 0.0 | 0.0 | 0.23 | 0.0 | 0.0 | 6.90 | 0.0 | 0.0 | 57.43 | 0.0 | 0.0 | 45.05 | 0.0 | 0.0 | 54.95 | 0.0 | 0.0 | 6.86 | 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) | 0.58 | 0 | 9.59 | 5.27 | -0.11 | 0 | 2.40 | -2.12 | 3.43 | 0 | 2.76 | 0 | 3.37 | 0 | 2.33 | 0 | 0.83 | 18.57 | 6.04 | 0 | 51.03 | 12.95 | -3.16 | 0 | 103.16 | 9.6 | 0.15 | -21.23 | 9.88 | 5.44 |
| 2022 (9) | -3.45 | 0 | 9.11 | 11.23 | -1.24 | 0 | 2.45 | 15.0 | -21.03 | 0 | -17.03 | 0 | -18.26 | 0 | -11.94 | 0 | 0.70 | -27.84 | -18.37 | 0 | 45.18 | -22.64 | 5.90 | 0 | 94.13 | -10.54 | 0.19 | 22.06 | 9.37 | 22.32 |
| 2021 (8) | 6.30 | 826.47 | 8.19 | 2.5 | -1.48 | 0 | 2.13 | -28.87 | 28.39 | 542.31 | 22.59 | 564.41 | 34.14 | 635.78 | 21.94 | 587.77 | 0.97 | 5.43 | 30.67 | 304.62 | 58.40 | 11.41 | -5.21 | 0 | 105.21 | -39.94 | 0.15 | -16.3 | 7.66 | -5.32 |
| 2020 (7) | 0.68 | 6700.0 | 7.99 | -42.19 | -3.33 | 0 | 3.00 | -4.56 | 4.42 | 952.38 | 3.40 | 2990.91 | 4.64 | 3214.29 | 3.19 | 2353.85 | 0.92 | 9.52 | 7.58 | 103.76 | 52.42 | 21.48 | -75.17 | 0 | 175.17 | -35.2 | 0.18 | -9.88 | 8.09 | 11.59 |
| 2019 (6) | 0.01 | -94.74 | 13.82 | 22.74 | -0.71 | 0 | 3.14 | 47.98 | 0.42 | -73.58 | 0.11 | -90.91 | 0.14 | -90.67 | 0.13 | -87.25 | 0.84 | 1.2 | 3.72 | -5.34 | 43.15 | -22.86 | -170.31 | 0 | 270.31 | 112.01 | 0.20 | 7.36 | 7.25 | 35.77 |
| 2018 (5) | 0.19 | 0 | 11.26 | 49.34 | -0.44 | 0 | 2.12 | 16.57 | 1.59 | 0 | 1.21 | 0 | 1.50 | 0 | 1.02 | 0 | 0.83 | 1.22 | 3.93 | 0 | 55.94 | 30.21 | -27.50 | 0 | 127.50 | 389.05 | 0.19 | 0 | 5.34 | 11.95 |
| 2017 (4) | -1.10 | 0 | 7.54 | -24.83 | -4.71 | 0 | 1.82 | 109.6 | -6.37 | 0 | -5.03 | 0 | -6.31 | 0 | -4.10 | 0 | 0.82 | -28.07 | -4.36 | 0 | 42.96 | -30.59 | 73.93 | 0 | 26.07 | -77.76 | 0.00 | 0 | 4.77 | 9.91 |
| 2016 (3) | 2.02 | -4.72 | 10.03 | 16.36 | -1.44 | 0 | 0.87 | 209.62 | 8.33 | -25.16 | 6.41 | -23.78 | 11.26 | -4.09 | 7.34 | -11.35 | 1.14 | 16.33 | 9.40 | -18.69 | 61.89 | 29.67 | -17.25 | 0 | 117.25 | -16.67 | 0.00 | 0 | 4.34 | -5.45 |
| 2015 (2) | 2.12 | 109.9 | 8.62 | -27.13 | -4.54 | 0 | 0.28 | -9.03 | 11.13 | 103.85 | 8.41 | 74.84 | 11.74 | 103.47 | 8.28 | 117.89 | 0.98 | 25.64 | 11.56 | 92.99 | 47.73 | 31.6 | -40.75 | 0 | 140.70 | 49.61 | 0.00 | 0 | 4.59 | 7.49 |
| 2014 (1) | 1.01 | -27.86 | 11.83 | 0 | 0.33 | 0 | 0.31 | 71.68 | 5.46 | 0 | 4.81 | 0 | 5.77 | 0 | 3.80 | 0 | 0.78 | -27.78 | 5.99 | 18.85 | 36.27 | -49.43 | 5.95 | -76.87 | 94.05 | 26.65 | 0.00 | 0 | 4.27 | 77.18 |
