- 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) | -0.05 | 66.67 | -110.42 | 11.29 | 194.01 | -44.55 | -3.68 | 74.18 | -130.14 | -1.98 | 85.42 | -115.97 | -5.06 | 72.68 | -149.03 | -0.22 | 67.65 | -110.78 | -0.09 | 71.88 | -107.89 | 0.02 | 0.0 | -81.82 | -0.99 | 92.26 | -107.89 | 140.25 | 24.27 | 69.26 | 200.00 | 100.0 | 103.57 | -100.00 | -1100.0 | -5800.0 | 15.78 | -14.98 | 342.02 |
| 24Q2 (19) | -0.15 | -36.36 | -25.0 | 3.84 | -32.98 | 0.0 | -14.25 | -27.12 | 38.6 | -13.58 | -25.05 | 38.16 | -18.52 | -50.94 | 21.63 | -0.68 | -36.0 | -30.77 | -0.32 | -18.52 | -6.67 | 0.02 | 0.0 | 100.0 | -12.79 | -26.63 | 33.49 | 112.86 | 23.61 | 47.3 | 100.00 | 0.0 | -8.33 | -8.33 | 0 | 8.33 | 18.56 | -2.26 | -38.69 |
| 24Q1 (18) | -0.11 | -118.97 | 8.33 | 5.73 | -62.62 | -23.8 | -11.21 | -268.07 | 55.27 | -10.86 | -253.61 | 55.27 | -12.27 | -174.68 | 53.02 | -0.50 | -120.75 | 5.66 | -0.27 | -119.85 | 20.59 | 0.02 | -75.0 | 100.0 | -10.10 | -235.94 | 55.01 | 91.30 | 17.91 | 73.54 | 100.00 | 8.7 | 0.0 | -0.00 | -100.0 | 0 | 18.99 | 336.55 | -44.23 |
| 23Q4 (17) | 0.58 | 20.83 | 3000.0 | 15.33 | -24.71 | -17.36 | 6.67 | -45.37 | -29.19 | 7.07 | -42.98 | -24.47 | 16.43 | 59.21 | 640.46 | 2.41 | 18.14 | 2108.33 | 1.36 | 19.3 | 2366.67 | 0.08 | -27.27 | 166.67 | 7.43 | -40.8 | -29.44 | 77.43 | -6.55 | 49.39 | 92.00 | -6.36 | -8.0 | 4.00 | 128.0 | 0 | 4.35 | 21.85 | -67.24 |
| 23Q3 (16) | 0.48 | 500.0 | 380.0 | 20.36 | 430.21 | -72.07 | 12.21 | 152.61 | -64.21 | 12.40 | 156.47 | -65.14 | 10.32 | 143.67 | -58.39 | 2.04 | 492.31 | 423.08 | 1.14 | 480.0 | 280.0 | 0.11 | 1000.0 | 1000.0 | 12.55 | 165.26 | -68.2 | 82.86 | 8.14 | 119.44 | 98.25 | -9.94 | 5.8 | 1.75 | 119.3 | -75.44 | 3.57 | -88.21 | -90.77 |
| 23Q2 (15) | -0.12 | 0.0 | 20.0 | 3.84 | -48.94 | -82.41 | -23.21 | 7.38 | 73.29 | -21.96 | 9.56 | 73.46 | -23.63 | 9.53 | 79.22 | -0.52 | 1.89 | 16.13 | -0.30 | 11.76 | 34.78 | 0.01 | 0.0 | 0 | -19.23 | 14.34 | 73.08 | 76.62 | 45.64 | 134.46 | 109.09 | 9.09 | 0.0 | -9.09 | 0 | 0.0 | 30.27 | -11.1 | -70.31 |
| 23Q1 (14) | -0.12 | -500.0 | -118.46 | 7.52 | -59.46 | -80.69 | -25.06 | -366.03 | -197.7 | -24.28 | -359.4 | -193.28 | -26.12 | -759.21 | -208.29 | -0.53 | -341.67 | -121.2 | -0.34 | -466.67 | -118.28 | 0.01 | -66.67 | -87.5 | -22.45 | -313.2 | -184.97 | 52.61 | 1.5 | 71.7 | 100.00 | 0.0 | 1.47 | -0.00 | 0 | -100.0 | 34.05 | 156.4 | 427.09 |
| 22Q4 (13) | -0.02 | -120.0 | -101.79 | 18.55 | -74.55 | -47.83 | 9.42 | -72.39 | -65.8 | 9.36 | -73.69 | -66.09 | -3.04 | -112.26 | -113.49 | -0.12 | -130.77 | -102.68 | -0.06 | -120.0 | -101.9 | 0.03 | 200.0 | -78.57 | 10.53 | -73.32 | -61.99 | 51.83 | 37.26 | 30.13 | 100.00 | 7.69 | 0.74 | 0.00 | -100.0 | 0 | 13.28 | -65.67 | 377.7 |
| 22Q3 (12) | 0.10 | 166.67 | -93.2 | 72.90 | 233.94 | 104.43 | 34.12 | 139.26 | 25.63 | 35.57 | 142.98 | 30.77 | 24.80 | 121.81 | 3.68 | 0.39 | 162.9 | -93.72 | 0.30 | 165.22 | -92.91 | 0.01 | 0 | -94.44 | 39.47 | 155.26 | 45.06 | 37.76 | 15.54 | -13.91 | 92.86 | -14.88 | -7.14 | 7.14 | 178.57 | 0 | 38.68 | -62.06 | 1434.92 |
| 22Q2 (11) | -0.15 | -123.08 | -125.86 | 21.83 | -43.94 | -13.99 | -86.91 | -438.83 | -624.5 | -82.75 | -417.9 | -593.44 | -113.73 | -571.52 | -842.36 | -0.62 | -124.8 | -125.1 | -0.46 | -124.73 | -128.57 | 0.00 | -100.0 | -100.0 | -71.43 | -370.36 | -521.66 | 32.68 | 6.66 | -34.29 | 109.09 | 10.7 | 9.09 | -9.09 | -727.27 | -663.64 | 101.94 | 1478.02 | 2804.27 |
| 22Q1 (10) | 0.65 | -41.96 | 690.91 | 38.94 | 9.51 | -42.12 | 25.65 | -6.86 | 104.49 | 26.03 | -5.69 | 105.23 | 24.12 | 7.06 | 104.84 | 2.50 | -44.07 | 580.77 | 1.86 | -41.14 | 647.06 | 0.08 | -42.86 | 0 | 26.42 | -4.62 | 104.4 | 30.64 | -23.07 | -46.11 | 98.55 | -0.72 | -15.53 | 1.45 | 0 | 108.7 | 6.46 | 132.37 | -98.68 |
| 21Q4 (9) | 1.12 | -23.81 | 62.32 | 35.56 | -0.28 | 16.59 | 27.54 | 1.4 | 14.42 | 27.60 | 1.47 | 14.24 | 22.53 | -5.81 | 18.89 | 4.47 | -28.02 | 16.71 | 3.16 | -25.3 | 27.42 | 0.14 | -22.22 | 7.69 | 27.70 | 1.8 | 14.42 | 39.83 | -9.19 | -19.67 | 99.26 | -0.74 | 0.14 | 0.00 | 0 | 0 | 2.78 | 10.32 | -13.4 |
| 21Q3 (8) | 1.47 | 153.45 | 116.18 | 35.66 | 40.5 | 6.61 | 27.16 | 63.91 | -2.16 | 27.20 | 62.19 | -2.47 | 23.92 | 56.14 | 9.27 | 6.21 | 151.42 | 54.09 | 4.23 | 162.73 | 67.19 | 0.18 | 63.64 | 50.0 | 27.21 | 60.63 | -3.24 | 43.86 | -11.8 | -26.31 | 100.00 | 0.0 | 0.0 | 0.00 | -100.0 | -100.0 | 2.52 | -28.21 | -20.0 |
| 21Q2 (7) | 0.58 | 627.27 | 346.15 | 25.38 | -62.28 | -12.54 | 16.57 | 102.9 | 38.55 | 16.77 | 103.37 | 35.35 | 15.32 | 103.08 | 88.67 | 2.47 | 575.0 | 375.0 | 1.61 | 573.53 | 373.53 | 0.11 | 0 | 175.0 | 16.94 | 102.82 | 35.52 | 49.73 | -12.54 | -16.88 | 100.00 | -14.29 | 5.88 | 1.61 | 109.68 | -70.97 | 3.51 | -99.28 | -59.7 |
| 21Q1 (6) | -0.11 | -115.94 | -175.0 | 67.28 | 120.59 | 136.82 | -571.67 | -2475.03 | -5092.28 | -497.92 | -2160.93 | -5526.21 | -497.96 | -2727.76 | -4874.63 | -0.52 | -113.58 | -160.0 | -0.34 | -113.71 | -142.86 | 0.00 | -100.0 | -100.0 | -600.00 | -2578.31 | -9102.45 | 56.86 | 14.68 | 18.73 | 116.67 | 17.69 | -6.67 | -16.67 | 0 | 33.33 | 490.35 | 15175.7 | 1611.52 |
| 20Q4 (5) | 0.69 | 1.47 | -23.33 | 30.50 | -8.82 | -10.69 | 24.07 | -13.29 | -16.16 | 24.16 | -13.37 | -17.77 | 18.95 | -13.43 | -33.35 | 3.83 | -4.96 | -7.26 | 2.48 | -1.98 | -20.51 | 0.13 | 8.33 | 18.18 | 24.21 | -13.9 | -17.88 | 49.58 | -16.7 | 45.57 | 99.13 | -0.87 | 2.29 | 0.00 | -100.0 | -100.0 | 3.21 | 1.9 | 8.08 |
| 20Q3 (4) | 0.68 | 423.08 | 0.0 | 33.45 | 15.27 | 0.0 | 27.76 | 132.11 | 0.0 | 27.89 | 125.1 | 0.0 | 21.89 | 169.58 | 0.0 | 4.03 | 675.0 | 0.0 | 2.53 | 644.12 | 0.0 | 0.12 | 200.0 | 0.0 | 28.12 | 124.96 | 0.0 | 59.52 | -0.52 | 0.0 | 100.00 | 5.88 | 0.0 | 0.86 | -84.48 | 0.0 | 3.15 | -63.83 | 0.0 |
| 20Q2 (3) | 0.13 | 425.0 | 0.0 | 29.02 | 2.15 | 0.0 | 11.96 | 208.63 | 0.0 | 12.39 | 240.0 | 0.0 | 8.12 | 181.12 | 0.0 | 0.52 | 360.0 | 0.0 | 0.34 | 342.86 | 0.0 | 0.04 | 300.0 | 0.0 | 12.50 | 291.72 | 0.0 | 59.83 | 24.93 | 0.0 | 94.44 | -24.44 | 0.0 | 5.56 | 122.22 | 0.0 | 8.71 | -69.6 | 0.0 |
| 20Q1 (2) | -0.04 | -104.44 | 0.0 | 28.41 | -16.81 | 0.0 | -11.01 | -138.35 | 0.0 | -8.85 | -130.12 | 0.0 | -10.01 | -135.21 | 0.0 | -0.20 | -104.84 | 0.0 | -0.14 | -104.49 | 0.0 | 0.01 | -90.91 | 0.0 | -6.52 | -122.12 | 0.0 | 47.89 | 40.6 | 0.0 | 125.00 | 28.99 | 0.0 | -25.00 | -1312.5 | 0.0 | 28.65 | 864.65 | 0.0 |
| 19Q4 (1) | 0.90 | 0.0 | 0.0 | 34.15 | 0.0 | 0.0 | 28.71 | 0.0 | 0.0 | 29.38 | 0.0 | 0.0 | 28.43 | 0.0 | 0.0 | 4.13 | 0.0 | 0.0 | 3.12 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 29.48 | 0.0 | 0.0 | 34.06 | 0.0 | 0.0 | 96.91 | 0.0 | 0.0 | 2.06 | 0.0 | 0.0 | 2.97 | 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) | 0.82 | 41.38 | 16.80 | -54.39 | 6.05 | -68.07 | 0.22 | -54.76 | 6.42 | -67.01 | 8.76 | -34.28 | 3.29 | 48.87 | 2.05 | 29.75 | 0.23 | 109.09 | 6.90 | -66.47 | 77.43 | 49.39 | 93.22 | -4.39 | 5.08 | 103.39 | 0.00 | 0 | 7.04 | -50.46 |
| 2022 (9) | 0.58 | -80.98 | 36.83 | 11.3 | 18.95 | -19.77 | 0.48 | 257.14 | 19.46 | -18.34 | 13.33 | -34.72 | 2.21 | -81.93 | 1.58 | -81.35 | 0.11 | -73.17 | 20.58 | -14.25 | 51.83 | 30.13 | 97.50 | -1.66 | 2.50 | 193.33 | 0.00 | 0 | 14.21 | 287.19 |
| 2021 (8) | 3.05 | 110.34 | 33.09 | 5.55 | 23.62 | 5.49 | 0.14 | -26.78 | 23.83 | 5.3 | 20.42 | 17.29 | 12.23 | 52.68 | 8.47 | 49.91 | 0.41 | 28.12 | 24.00 | 4.94 | 39.83 | -19.67 | 99.15 | -0.03 | 0.85 | -30.68 | 0.00 | 0 | 3.67 | -26.6 |
| 2020 (7) | 1.45 | 253.66 | 31.35 | -9.1 | 22.39 | 45.39 | 0.19 | -69.26 | 22.63 | 39.86 | 17.41 | 38.84 | 8.01 | 360.34 | 5.65 | 289.66 | 0.32 | 166.67 | 22.87 | 35.57 | 49.58 | 45.57 | 99.18 | 5.01 | 1.23 | -77.87 | 0.00 | 0 | 5.00 | -63.95 |
| 2019 (6) | 0.41 | -88.74 | 34.49 | -20.27 | 15.40 | -53.68 | 0.60 | 250.6 | 16.18 | -54.38 | 12.54 | -62.26 | 1.74 | -89.31 | 1.45 | -89.7 | 0.12 | -71.43 | 16.87 | -52.68 | 34.06 | 362.77 | 94.44 | 0.79 | 5.56 | -11.75 | 0.00 | 0 | 13.87 | 204.84 |
| 2018 (5) | 3.64 | 33.82 | 43.26 | 8.8 | 33.25 | 8.52 | 0.17 | 4.81 | 35.47 | 14.6 | 33.23 | 16.31 | 16.27 | 0.25 | 14.08 | 9.83 | 0.42 | -6.67 | 35.65 | 14.74 | 7.36 | -69.96 | 93.70 | -5.29 | 6.30 | 494.92 | 0.00 | 0 | 4.55 | 9.64 |
| 2017 (4) | 2.72 | -35.85 | 39.76 | -8.49 | 30.64 | -7.18 | 0.16 | 13.44 | 30.95 | -7.34 | 28.57 | -13.53 | 16.23 | -36.15 | 12.82 | -28.3 | 0.45 | -16.67 | 31.07 | -8.32 | 24.50 | -16.15 | 98.94 | 0.02 | 1.06 | -2.22 | 0.00 | 0 | 4.15 | 10.96 |
| 2016 (3) | 4.24 | 505.71 | 43.45 | 22.95 | 33.01 | 229.11 | 0.14 | -78.97 | 33.40 | 53.99 | 33.04 | 67.8 | 25.42 | 622.16 | 17.88 | 648.12 | 0.54 | 350.0 | 33.89 | 47.22 | 29.22 | -52.38 | 98.92 | 114.89 | 1.08 | -97.99 | 0.00 | 0 | 3.74 | -71.92 |
| 2015 (2) | 0.70 | -71.19 | 35.34 | -15.09 | 10.03 | -63.97 | 0.69 | 390.72 | 21.69 | -25.67 | 19.69 | -29.95 | 3.52 | -73.89 | 2.39 | -73.79 | 0.12 | -62.5 | 23.02 | -22.1 | 61.36 | 45.44 | 46.03 | -51.89 | 53.97 | 1022.54 | 0.00 | 0 | 13.32 | 178.08 |
| 2014 (1) | 2.43 | -20.33 | 41.62 | 0 | 27.84 | 0 | 0.14 | -55.88 | 29.18 | 0 | 28.11 | 0 | 13.48 | 0 | 9.12 | 0 | 0.32 | -3.03 | 29.55 | -23.39 | 42.19 | -25.76 | 95.67 | 6.5 | 4.81 | -54.62 | 0.00 | 0 | 4.79 | -21.6 |
