- 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) | 0.39 | -49.35 | -79.79 | 62.06 | 0.36 | 1.87 | 7.82 | -40.58 | -73.04 | 9.07 | -47.36 | -72.23 | 5.27 | -54.41 | -77.09 | 1.76 | -49.86 | -79.86 | 1.01 | -48.21 | -80.91 | 0.16 | 0.0 | -30.43 | 14.21 | -35.26 | -60.44 | 104.69 | 1.0 | 59.78 | 82.35 | 4.81 | -8.04 | 11.76 | -52.94 | -1.47 | 21.07 | -4.66 | 22.43 |
| 24Q2 (19) | 0.77 | 1.32 | -53.89 | 61.84 | 1.46 | 3.2 | 13.16 | 23.8 | -36.3 | 17.23 | -1.54 | -26.96 | 11.56 | -2.12 | -32.24 | 3.51 | 1.45 | -46.58 | 1.95 | -8.88 | -47.58 | 0.16 | -11.11 | -23.81 | 21.95 | 2.0 | -18.7 | 103.65 | 45.01 | 51.34 | 78.57 | 29.41 | -9.93 | 25.00 | -36.36 | 95.83 | 22.10 | -20.3 | 32.57 |
| 24Q1 (18) | 0.76 | 94.87 | -25.49 | 60.95 | 0.11 | 2.7 | 10.63 | -6.26 | -42.91 | 17.50 | 95.31 | -4.58 | 11.81 | 99.83 | -2.64 | 3.46 | 100.0 | -13.93 | 2.14 | 92.79 | -4.04 | 0.18 | 0.0 | 0.0 | 21.52 | 65.03 | -3.15 | 71.48 | 22.4 | -22.31 | 60.71 | -52.78 | -41.18 | 39.29 | 237.5 | 0 | 27.73 | 32.17 | 35.8 |
| 23Q4 (17) | 0.39 | -79.79 | -66.09 | 60.88 | -0.07 | 4.69 | 11.34 | -60.91 | -50.65 | 8.96 | -72.57 | -51.3 | 5.91 | -74.3 | -53.1 | 1.73 | -80.21 | -61.56 | 1.11 | -79.02 | -53.94 | 0.18 | -21.74 | -5.26 | 13.04 | -63.7 | -42.25 | 58.40 | -10.87 | -27.66 | 128.57 | 43.57 | 1.66 | -28.57 | -339.29 | -7.94 | 20.98 | 21.91 | 31.62 |
| 23Q3 (16) | 1.93 | 15.57 | -30.58 | 60.92 | 1.67 | 2.65 | 29.01 | 40.42 | 7.68 | 32.66 | 38.45 | -11.73 | 23.00 | 34.82 | -13.66 | 8.74 | 33.03 | -23.67 | 5.29 | 42.2 | -9.26 | 0.23 | 9.52 | 4.55 | 35.92 | 33.04 | -12.07 | 65.52 | -4.34 | -35.75 | 89.55 | 2.66 | 21.98 | 11.94 | -6.47 | -55.08 | 17.21 | 3.24 | 6.7 |
| 23Q2 (15) | 1.67 | 63.73 | -36.5 | 59.92 | 0.96 | 7.36 | 20.66 | 10.96 | -17.23 | 23.59 | 28.63 | -17.26 | 17.06 | 40.64 | -15.63 | 6.57 | 63.43 | -33.1 | 3.72 | 66.82 | -27.77 | 0.21 | 16.67 | -16.0 | 27.00 | 21.51 | -15.57 | 68.49 | -25.56 | -27.65 | 87.23 | -15.49 | -0.08 | 12.77 | 0 | 0.53 | 16.67 | -18.36 | 3.73 |
| 23Q1 (14) | 1.02 | -11.3 | -15.0 | 59.35 | 2.06 | 8.34 | 18.62 | -18.97 | 19.21 | 18.34 | -0.33 | 1.16 | 12.13 | -3.73 | -0.57 | 4.02 | -10.67 | -30.33 | 2.23 | -7.47 | -14.56 | 0.18 | -5.26 | -14.29 | 22.22 | -1.59 | -1.77 | 92.01 | 13.97 | 2.78 | 103.23 | -18.38 | 19.11 | 0.00 | 100.0 | -100.0 | 20.42 | 28.11 | -12.1 |
| 22Q4 (13) | 1.15 | -58.63 | -44.17 | 58.15 | -2.02 | 11.68 | 22.98 | -14.7 | 19.69 | 18.40 | -50.27 | -9.31 | 12.60 | -52.7 | -19.95 | 4.50 | -60.7 | -62.93 | 2.41 | -58.66 | -42.48 | 0.19 | -13.64 | -26.92 | 22.58 | -44.72 | -6.46 | 80.73 | -20.83 | -54.36 | 126.47 | 72.26 | 32.96 | -26.47 | -199.58 | -642.65 | 15.94 | -1.18 | -19.0 |
| 22Q3 (12) | 2.78 | 5.7 | 16.81 | 59.35 | 6.34 | 21.84 | 26.94 | 7.93 | 29.58 | 37.00 | 29.78 | 64.74 | 26.64 | 31.75 | 64.04 | 11.45 | 16.6 | -25.26 | 5.83 | 13.2 | 22.22 | 0.22 | -12.0 | -24.14 | 40.85 | 27.74 | 54.56 | 101.97 | 7.71 | -52.79 | 73.42 | -15.9 | -20.33 | 26.58 | 109.34 | 238.92 | 16.13 | 0.37 | 33.09 |
| 22Q2 (11) | 2.63 | 119.17 | 3.54 | 55.81 | 1.88 | 7.93 | 24.96 | 59.8 | 13.71 | 28.51 | 57.25 | 34.23 | 20.22 | 65.74 | 33.11 | 9.82 | 70.19 | -35.44 | 5.15 | 97.32 | 20.89 | 0.25 | 19.05 | -7.41 | 31.98 | 41.38 | 25.66 | 94.67 | 5.75 | -60.13 | 87.30 | 0.73 | -14.52 | 12.70 | -4.76 | 398.41 | 16.07 | -30.82 | 0.69 |
| 22Q1 (10) | 1.20 | -41.75 | 2.56 | 54.78 | 5.2 | 11.32 | 15.62 | -18.65 | -4.23 | 18.13 | -10.65 | 37.87 | 12.20 | -22.49 | 33.33 | 5.77 | -52.47 | -26.03 | 2.61 | -37.71 | 27.32 | 0.21 | -19.23 | 0.0 | 22.62 | -6.3 | 18.74 | 89.52 | -49.39 | -69.95 | 86.67 | -8.89 | -29.38 | 13.33 | 173.33 | 158.67 | 23.23 | 18.04 | 14.6 |
| 21Q4 (9) | 2.06 | -13.45 | 198.55 | 52.07 | 6.9 | 9.09 | 19.20 | -7.65 | 48.26 | 20.29 | -9.66 | 217.03 | 15.74 | -3.08 | 202.11 | 12.14 | -20.76 | 150.31 | 4.19 | -12.16 | 201.44 | 0.26 | -10.34 | 8.33 | 24.14 | -8.66 | 82.6 | 176.89 | -18.1 | -42.55 | 95.12 | 3.22 | -52.44 | 4.88 | -37.8 | 104.88 | 19.68 | 62.38 | 28.04 |
| 21Q3 (8) | 2.38 | -6.3 | -1.65 | 48.71 | -5.8 | -3.83 | 20.79 | -5.28 | -5.41 | 22.46 | 5.74 | 4.13 | 16.24 | 6.91 | -1.93 | 15.32 | 0.72 | -19.75 | 4.77 | 11.97 | -13.74 | 0.29 | 7.41 | -12.12 | 26.43 | 3.85 | -7.75 | 215.99 | -9.03 | -14.78 | 92.16 | -9.76 | -10.04 | 7.84 | 284.31 | 421.57 | 12.12 | -24.06 | -18.05 |
| 21Q2 (7) | 2.54 | 117.09 | 484.85 | 51.71 | 5.08 | 17.98 | 21.95 | 34.58 | 1043.23 | 21.24 | 61.52 | 359.34 | 15.19 | 66.01 | 310.68 | 15.21 | 95.0 | 407.27 | 4.26 | 107.8 | 384.0 | 0.27 | 28.57 | 22.73 | 25.45 | 33.6 | 339.55 | 237.44 | -20.31 | -4.23 | 102.13 | -16.78 | 610.64 | -4.26 | 81.28 | -103.55 | 15.96 | -21.26 | -20.75 |
| 21Q1 (6) | 1.17 | 69.57 | 0 | 49.21 | 3.1 | 0 | 16.31 | 25.95 | 0 | 13.15 | 105.47 | 0 | 9.15 | 75.62 | 0 | 7.80 | 60.82 | 0 | 2.05 | 47.48 | 0 | 0.21 | -12.5 | 0 | 19.05 | 44.1 | 0 | 297.94 | -3.23 | 0 | 122.73 | -38.64 | 0 | -22.73 | 77.27 | 0 | 20.27 | 31.88 | 0 |
| 20Q4 (5) | 0.69 | -71.49 | 0 | 47.73 | -5.77 | 0 | 12.95 | -41.08 | 0 | 6.40 | -70.33 | 0 | 5.21 | -68.54 | 0 | 4.85 | -74.59 | 0 | 1.39 | -74.86 | 0 | 0.24 | -27.27 | 0 | 13.22 | -53.86 | 0 | 307.90 | 21.48 | 0 | 200.00 | 95.24 | 0 | -100.00 | -4000.0 | 0 | 15.37 | 3.92 | 0 |
| 20Q3 (4) | 2.42 | 466.67 | 0.0 | 50.65 | 15.56 | 0.0 | 21.98 | 1044.79 | 0.0 | 21.57 | 363.37 | 0.0 | 16.56 | 329.68 | 0.0 | 19.09 | 485.66 | 0.0 | 5.53 | 468.67 | 0.0 | 0.33 | 50.0 | 0.0 | 28.65 | 394.82 | 0.0 | 253.45 | 2.23 | 0.0 | 102.44 | 612.2 | 0.0 | -2.44 | -102.03 | 0.0 | 14.79 | -26.56 | 0.0 |
| 20Q2 (3) | -0.66 | 0 | 0.0 | 43.83 | 0 | 0.0 | 1.92 | 0 | 0.0 | -8.19 | 0 | 0.0 | -7.21 | 0 | 0.0 | -4.95 | 0 | 0.0 | -1.50 | 0 | 0.0 | 0.22 | 0 | 0.0 | 5.79 | 0 | 0.0 | 247.92 | 0 | 0.0 | -20.00 | 0 | 0.0 | 120.00 | 0 | 0.0 | 20.14 | 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) | 4.56 | -35.96 | 60.28 | 5.57 | 20.49 | -11.07 | 3.11 | -5.43 | 21.72 | -17.13 | 15.14 | -17.94 | 20.58 | -42.61 | 12.38 | -27.05 | 0.80 | -12.09 | 25.30 | -15.3 | 58.40 | -27.66 | 93.79 | 6.67 | 5.59 | -53.71 | 0.00 | 0 | 18.63 | 5.97 |
| 2022 (9) | 7.12 | -6.07 | 57.10 | 13.18 | 23.04 | 16.48 | 3.29 | -15.97 | 26.21 | 33.18 | 18.45 | 28.3 | 35.86 | -28.14 | 16.97 | 9.41 | 0.91 | -13.33 | 29.87 | 23.23 | 80.73 | -54.36 | 87.92 | -12.62 | 12.08 | 0 | 0.21 | -46.22 | 17.58 | 5.27 |
| 2021 (8) | 7.58 | 415.65 | 50.45 | 7.57 | 19.78 | 71.7 | 3.92 | -57.38 | 19.68 | 333.48 | 14.38 | 377.74 | 49.90 | 421.42 | 15.51 | 395.53 | 1.05 | 14.13 | 24.24 | 71.07 | 176.89 | -42.55 | 100.62 | -60.57 | -0.62 | 0 | 0.39 | 0 | 16.70 | -7.43 |
| 2020 (7) | 1.47 | -85.14 | 46.90 | 3.81 | 11.52 | -26.95 | 9.19 | 19.47 | 4.54 | -70.86 | 3.01 | -75.02 | 9.57 | -83.46 | 3.13 | -85.28 | 0.92 | -46.2 | 14.17 | -40.44 | 307.90 | 58.9 | 255.17 | 151.9 | -155.17 | 0 | 0.00 | 0 | 18.04 | 4.1 |
| 2019 (6) | 9.89 | -5.0 | 45.18 | -4.6 | 15.77 | -2.65 | 7.69 | 285.16 | 15.58 | -13.2 | 12.05 | -9.74 | 57.85 | 1.65 | 21.26 | 3.91 | 1.71 | 14.0 | 23.79 | 16.62 | 193.77 | 16.2 | 101.30 | 11.96 | -1.30 | 0 | 0.00 | 0 | 17.33 | -14.55 |
| 2018 (5) | 10.41 | -35.02 | 47.36 | -4.4 | 16.20 | -5.32 | 2.00 | 164.29 | 17.95 | 8.2 | 13.35 | 10.33 | 56.91 | 26.64 | 20.46 | 44.8 | 1.50 | 32.74 | 20.40 | 14.09 | 166.75 | -20.1 | 90.48 | -12.18 | 9.52 | 0 | 0.00 | 0 | 20.28 | 13.04 |
| 2017 (4) | 16.02 | 0 | 49.54 | 0 | 17.11 | 0 | 0.76 | 0 | 16.59 | 0 | 12.10 | 0 | 44.94 | 0 | 14.13 | 0 | 1.13 | 0 | 17.88 | 0 | 208.69 | -18.74 | 103.03 | 0 | -3.03 | 0 | 0.00 | 0 | 17.94 | 0 |
| 2016 (3) | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 256.83 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 |
