- 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) | 2.64 | -4.0 | 12.82 | 9.96 | -20.64 | -22.85 | 3.85 | -41.93 | -43.05 | 5.83 | -2.67 | -11.67 | 4.67 | 1.97 | -11.55 | 11.34 | -7.8 | -22.06 | 3.81 | -2.81 | -23.19 | 0.81 | -5.81 | -13.83 | 6.12 | -2.08 | -11.69 | 145.79 | -43.26 | -23.2 | 66.07 | -40.29 | -35.24 | 33.93 | 418.41 | 1779.46 | 4.65 | 14.53 | 5.44 |
| 24Q2 (19) | 2.75 | -11.58 | 21.68 | 12.55 | -5.35 | 14.93 | 6.63 | -15.0 | 42.27 | 5.99 | -17.95 | 55.18 | 4.58 | -21.58 | -25.77 | 12.30 | -16.27 | -24.72 | 3.92 | -28.86 | -31.71 | 0.86 | -8.51 | -7.53 | 6.25 | -17.76 | 45.69 | 256.96 | 49.55 | 29.92 | 110.66 | 3.59 | -8.42 | -10.66 | -56.28 | 48.85 | 4.06 | -0.73 | -3.33 |
| 24Q1 (18) | 3.11 | 31.78 | 245.56 | 13.26 | -1.04 | 11.24 | 7.80 | 24.6 | 330.94 | 7.30 | 16.61 | 272.45 | 5.84 | 17.03 | 28.63 | 14.69 | 15.49 | 69.43 | 5.51 | 18.75 | 76.04 | 0.94 | 1.08 | 36.23 | 7.60 | 14.98 | 192.31 | 171.82 | 6.97 | 1.36 | 106.82 | 6.82 | 15.72 | -6.82 | 0 | -188.64 | 4.09 | -17.71 | -43.51 |
| 23Q4 (17) | 2.36 | 0.85 | 4620.0 | 13.40 | 3.8 | -7.14 | 6.26 | -7.4 | 148.53 | 6.26 | -5.15 | 162.35 | 4.99 | -5.49 | 494.05 | 12.72 | -12.58 | 1951.61 | 4.64 | -6.45 | 1500.0 | 0.93 | -1.06 | 190.63 | 6.61 | -4.62 | 189.2 | 160.63 | -15.38 | -16.44 | 100.00 | -1.98 | -20.83 | 0.00 | 100.0 | 100.0 | 4.97 | 12.7 | -72.03 |
| 23Q3 (16) | 2.34 | 3.54 | 429.58 | 12.91 | 18.22 | -44.16 | 6.76 | 45.06 | 111.78 | 6.60 | 70.98 | 114.4 | 5.28 | -14.42 | 111.52 | 14.55 | -10.95 | 285.59 | 4.96 | -13.59 | 193.23 | 0.94 | 1.08 | 683.33 | 6.93 | 61.54 | 118.75 | 189.82 | -4.03 | 198.32 | 102.02 | -15.57 | -17.6 | -2.02 | 90.3 | 91.52 | 4.41 | 5.0 | -92.44 |
| 23Q2 (15) | 2.26 | 151.11 | 309.26 | 10.92 | -8.39 | -34.26 | 4.66 | 157.46 | 104.37 | 3.86 | 96.94 | 103.48 | 6.17 | 35.9 | 105.57 | 16.34 | 88.47 | 251.3 | 5.74 | 83.39 | 168.33 | 0.93 | 34.78 | 1062.5 | 4.29 | 65.0 | 104.78 | 197.79 | 16.68 | 520.03 | 120.83 | 30.9 | 28.89 | -20.83 | -370.83 | -766.67 | 4.20 | -41.99 | -95.08 |
| 23Q1 (14) | 0.90 | 1700.0 | 205.88 | 11.92 | -17.39 | -41.77 | 1.81 | 114.03 | 101.85 | 1.96 | 119.52 | 102.18 | 4.54 | 440.48 | 105.05 | 8.67 | 1298.39 | 211.3 | 3.13 | 979.31 | 150.65 | 0.69 | 115.62 | 885.71 | 2.60 | 135.09 | 103.31 | 169.52 | -11.82 | 572.43 | 92.31 | -26.92 | -14.53 | 7.69 | 129.23 | 196.15 | 7.24 | -59.26 | -92.01 |
| 22Q4 (13) | 0.05 | 107.04 | 104.85 | 14.43 | -37.59 | -43.79 | -12.90 | 77.52 | 88.22 | -10.04 | 78.09 | 90.51 | 0.84 | 101.83 | 100.78 | 0.62 | 107.91 | 107.16 | 0.29 | 105.45 | 104.15 | 0.32 | 166.67 | 433.33 | -7.41 | 79.95 | 91.35 | 192.24 | 202.12 | 630.67 | 126.32 | 2.02 | 22.24 | -26.32 | -10.53 | -689.47 | 17.77 | -69.55 | -81.47 |
| 22Q3 (12) | -0.71 | 34.26 | 32.38 | 23.12 | 39.19 | -29.98 | -57.39 | 46.2 | 86.52 | -45.82 | 58.65 | 87.71 | -45.82 | 58.65 | 87.71 | -7.84 | 27.41 | 3.33 | -5.32 | 36.67 | 20.0 | 0.12 | 50.0 | 500.0 | -36.96 | 58.78 | 89.05 | 63.63 | 99.47 | 196.64 | 123.81 | 32.06 | 9.66 | -23.81 | -861.9 | -84.52 | 58.35 | -31.67 | -83.38 |
| 22Q2 (11) | -1.08 | -27.06 | -92.86 | 16.61 | -18.86 | -17.4 | -106.68 | -8.89 | 2.66 | -110.81 | -23.23 | -130.57 | -110.81 | -23.23 | -132.35 | -10.80 | -38.64 | -164.71 | -8.40 | -35.92 | -158.46 | 0.08 | 14.29 | 14.29 | -89.66 | -14.11 | -204.86 | 31.90 | 26.54 | 45.86 | 93.75 | -13.19 | -58.06 | 3.12 | 139.06 | 102.53 | 85.39 | -5.72 | -5.9 |
| 22Q1 (10) | -0.85 | 17.48 | 51.98 | 20.47 | -20.26 | 104.5 | -97.97 | 10.51 | 11.32 | -89.92 | 15.05 | 31.84 | -89.92 | 16.56 | 32.01 | -7.79 | 10.05 | 34.32 | -6.18 | 11.46 | 32.97 | 0.07 | 16.67 | 0.0 | -78.57 | 8.33 | 34.8 | 25.21 | -4.18 | -9.35 | 108.00 | 4.52 | 30.6 | -8.00 | -140.0 | -152.0 | 90.57 | -5.54 | -4.94 |
| 21Q4 (9) | -1.03 | 1.9 | 16.26 | 25.67 | -22.26 | 69.89 | -109.48 | 74.28 | -40.99 | -105.85 | 71.6 | -109.48 | -107.77 | 71.08 | -110.12 | -8.66 | -6.78 | -15.62 | -6.98 | -4.96 | -27.61 | 0.06 | 200.0 | -45.45 | -85.71 | 74.6 | -140.02 | 26.31 | 22.66 | -8.74 | 103.33 | -8.48 | -34.24 | -3.33 | 74.17 | 93.86 | 95.88 | -72.68 | 42.83 |
| 21Q3 (8) | -1.05 | -87.5 | 18.6 | 33.02 | 64.2 | 152.06 | -425.59 | -288.35 | -367.68 | -372.68 | -675.45 | -674.96 | -372.68 | -681.46 | -672.71 | -8.11 | -98.77 | -11.4 | -6.65 | -104.62 | -40.89 | 0.02 | -71.43 | -80.0 | -337.50 | -1047.57 | -874.87 | 21.45 | -1.92 | -50.16 | 112.90 | -49.49 | -39.57 | -12.90 | 89.55 | 85.58 | 351.01 | 286.83 | 305.65 |
| 21Q2 (7) | -0.56 | 68.36 | 37.08 | 20.11 | 100.9 | -72.38 | -109.59 | 0.81 | 70.12 | -48.06 | 63.57 | 76.57 | -47.69 | 63.94 | 61.43 | -4.08 | 65.6 | 13.56 | -3.25 | 64.75 | -21.27 | 0.07 | 0.0 | 250.0 | -29.41 | 75.6 | 81.28 | 21.87 | -21.36 | -65.27 | 223.53 | 170.31 | 23.23 | -123.53 | -902.94 | -56.23 | 90.74 | -4.76 | 0 |
| 21Q1 (6) | -1.77 | -43.9 | -440.38 | 10.01 | -33.75 | -36.93 | -110.48 | -42.28 | -4841.63 | -131.92 | -161.07 | -6235.81 | -132.25 | -157.85 | -7700.57 | -11.86 | -58.34 | -534.43 | -9.22 | -68.56 | -894.83 | 0.07 | -36.36 | -89.39 | -120.51 | -237.47 | -3429.01 | 27.81 | -3.54 | -67.29 | 82.69 | -47.38 | -25.18 | 15.38 | 128.34 | 246.15 | 95.28 | 41.93 | 818.8 |
| 20Q4 (5) | -1.23 | 4.65 | -35.16 | 15.11 | 15.34 | 56.1 | -77.65 | 14.67 | -3763.18 | -50.53 | -5.07 | -1929.32 | -51.29 | -6.34 | -2464.5 | -7.49 | -2.88 | -59.7 | -5.47 | -15.89 | -229.52 | 0.11 | 10.0 | -86.9 | -35.71 | -3.15 | -2280.67 | 28.83 | -33.02 | -84.98 | 157.14 | -15.9 | 92.06 | -54.29 | 39.33 | -398.57 | 67.13 | -22.42 | 778.66 |
| 20Q3 (4) | -1.29 | -44.94 | 0.0 | 13.10 | -82.01 | 0.0 | -91.00 | 75.19 | 0.0 | -48.09 | 76.55 | 0.0 | -48.23 | 61.0 | 0.0 | -7.28 | -54.24 | 0.0 | -4.72 | -76.12 | 0.0 | 0.10 | 400.0 | 0.0 | -34.62 | 77.97 | 0.0 | 43.04 | -31.65 | 0.0 | 186.84 | 3.0 | 0.0 | -89.47 | -13.16 | 0.0 | 86.53 | 0 | 0.0 |
| 20Q2 (3) | -0.89 | -271.15 | 0.0 | 72.82 | 358.85 | 0.0 | -366.73 | -15839.48 | 0.0 | -205.11 | -9640.0 | 0.0 | -123.66 | -7206.9 | 0.0 | -4.72 | -272.89 | 0.0 | -2.68 | -331.03 | 0.0 | 0.02 | -96.97 | 0.0 | -157.14 | -4440.88 | 0.0 | 62.97 | -25.94 | 0.0 | 181.40 | 64.12 | 0.0 | -79.07 | -651.16 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.52 | 157.14 | 0.0 | 15.87 | 63.95 | 0.0 | 2.33 | 215.92 | 0.0 | 2.15 | 186.35 | 0.0 | 1.74 | 187.0 | 0.0 | 2.73 | 158.21 | 0.0 | 1.16 | 169.88 | 0.0 | 0.66 | -21.43 | 0.0 | 3.62 | 341.33 | 0.0 | 85.02 | -55.71 | 0.0 | 110.53 | 35.09 | 0.0 | -10.53 | -157.89 | 0.0 | 10.37 | 35.73 | 0.0 |
| 19Q4 (1) | -0.91 | 0.0 | 0.0 | 9.68 | 0.0 | 0.0 | -2.01 | 0.0 | 0.0 | -2.49 | 0.0 | 0.0 | -2.00 | 0.0 | 0.0 | -4.69 | 0.0 | 0.0 | -1.66 | 0.0 | 0.0 | 0.84 | 0.0 | 0.0 | -1.50 | 0.0 | 0.0 | 191.95 | 0.0 | 0.0 | 81.82 | 0.0 | 0.0 | 18.18 | 0.0 | 0.0 | 7.64 | 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) | 7.87 | 0 | 12.44 | -24.97 | 5.43 | 0 | 0.30 | -93.74 | 5.20 | 0 | 5.31 | 0 | 57.43 | 0 | 21.34 | 0 | 4.01 | 702.0 | 5.60 | 0 | 160.63 | -16.44 | 104.25 | -6.37 | -4.25 | 0 | 0.23 | -56.39 | 4.91 | -86.99 |
| 2022 (9) | -2.59 | 0 | 16.58 | -12.23 | -37.22 | 0 | 4.81 | -66.92 | -33.19 | 0 | -26.13 | 0 | -25.69 | 0 | -12.89 | 0 | 0.50 | 127.27 | -27.15 | 0 | 192.24 | 630.67 | 111.34 | -2.29 | -12.37 | 0 | 0.53 | -55.23 | 37.74 | -66.66 |
| 2021 (8) | -4.41 | 0 | 18.89 | 12.71 | -133.61 | 0 | 14.55 | 313.56 | -117.07 | 0 | -117.56 | 0 | -32.43 | 0 | -25.32 | 0 | 0.22 | -76.84 | -99.09 | 0 | 26.31 | -8.74 | 113.95 | -38.98 | -13.95 | 0 | 1.18 | 76.84 | 113.21 | 329.31 |
| 2020 (7) | -2.88 | 0 | 16.76 | 63.04 | -17.37 | 0 | 3.52 | 382.0 | -9.27 | 0 | -8.04 | 0 | -16.58 | 0 | -7.54 | 0 | 0.95 | -75.83 | -5.13 | 0 | 28.83 | -84.98 | 186.73 | 40.05 | -86.73 | 0 | 0.67 | 81.46 | 26.37 | 316.59 |
| 2019 (6) | 0.89 | 117.07 | 10.28 | 1.28 | 0.70 | 250.0 | 0.73 | 488.68 | 0.52 | 136.36 | 0.42 | 133.33 | 4.78 | 108.73 | 1.68 | 121.05 | 3.93 | -7.75 | 1.40 | 180.0 | 191.95 | -1.17 | 133.33 | 43.59 | -33.33 | 0 | 0.37 | -34.89 | 6.33 | -2.16 |
| 2018 (5) | 0.41 | -83.33 | 10.15 | -10.34 | 0.20 | -84.85 | 0.12 | 13.12 | 0.22 | -81.67 | 0.18 | -81.63 | 2.29 | -83.75 | 0.76 | -83.55 | 4.26 | -9.94 | 0.50 | -65.28 | 194.22 | -5.07 | 92.86 | -14.88 | 7.14 | 0 | 0.57 | 0 | 6.47 | -1.82 |
| 2017 (4) | 2.46 | 515.0 | 11.32 | 9.16 | 1.32 | 2100.0 | 0.11 | -7.86 | 1.20 | 313.79 | 0.98 | 476.47 | 14.09 | 512.61 | 4.62 | 477.5 | 4.73 | 0.85 | 1.44 | 182.35 | 204.60 | -0.15 | 109.09 | 518.18 | -10.39 | 0 | 0.00 | 0 | 6.59 | -2.23 |
| 2016 (3) | 0.40 | -90.7 | 10.37 | -17.44 | 0.06 | -97.0 | 0.12 | 1.68 | 0.29 | -86.64 | 0.17 | -90.4 | 2.30 | -91.4 | 0.80 | -91.27 | 4.69 | -9.11 | 0.51 | -78.21 | 204.90 | 18.3 | 17.65 | -80.88 | 82.35 | 970.59 | 0.00 | 0 | 6.74 | 0.0 |
| 2015 (2) | 4.30 | 73.39 | 12.56 | 11.94 | 2.00 | 198.51 | 0.12 | -18.73 | 2.17 | 59.56 | 1.77 | 48.74 | 26.73 | 35.69 | 9.16 | 59.03 | 5.16 | 7.28 | 2.34 | 53.95 | 173.21 | -20.83 | 92.31 | 84.62 | 7.69 | -84.62 | 0.00 | 0 | 6.74 | 5.81 |
| 2014 (1) | 2.48 | -17.88 | 11.22 | 0 | 0.67 | 0 | 0.14 | 53.66 | 1.36 | 0 | 1.19 | 0 | 19.70 | 0 | 5.76 | 0 | 4.81 | 4.79 | 1.52 | -18.72 | 218.77 | -20.97 | 50.00 | 90.0 | 50.00 | -32.14 | 0.00 | 0 | 6.37 | 26.89 |
