- 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) | 1.31 | -24.28 | -18.63 | 26.25 | -6.91 | 4.25 | 12.28 | -6.19 | 33.19 | 10.25 | -25.35 | -18.26 | 8.22 | -24.45 | -24.31 | 2.82 | -27.69 | -29.85 | 1.36 | -25.27 | -28.8 | 0.15 | 0.0 | -6.25 | 18.55 | -15.45 | -12.5 | 132.50 | -1.43 | 7.54 | 120.22 | 26.61 | 62.47 | -20.22 | -501.12 | -177.79 | 21.98 | -2.92 | -1.57 |
| 24Q2 (19) | 1.73 | -9.9 | 58.72 | 28.20 | 0.18 | 13.62 | 13.09 | -10.1 | 32.89 | 13.73 | -7.85 | 41.55 | 10.88 | -12.68 | 34.65 | 3.90 | -12.16 | 36.84 | 1.82 | -12.92 | 31.88 | 0.15 | -6.25 | 0.0 | 21.94 | -5.06 | 14.21 | 134.42 | -1.58 | 3.72 | 94.96 | -3.49 | -6.4 | 5.04 | 108.4 | 447.9 | 22.64 | 0.62 | -4.67 |
| 24Q1 (18) | 1.92 | 6.08 | 51.18 | 28.15 | -1.19 | 3.91 | 14.56 | 13.75 | 13.84 | 14.90 | 19.01 | 33.04 | 12.46 | 11.55 | 29.66 | 4.44 | 4.96 | 29.82 | 2.09 | 1.95 | 31.45 | 0.16 | -5.88 | 6.67 | 23.11 | 12.79 | 10.95 | 136.58 | 15.82 | 2.15 | 98.39 | -4.27 | -13.77 | 2.42 | 230.65 | 117.16 | 22.50 | -3.68 | -6.13 |
| 23Q4 (17) | 1.81 | 12.42 | 38.17 | 28.49 | 13.15 | 7.55 | 12.80 | 38.83 | 71.12 | 12.52 | -0.16 | -0.08 | 11.17 | 2.85 | 10.81 | 4.23 | 5.22 | 17.5 | 2.05 | 7.33 | 23.49 | 0.17 | 6.25 | 13.33 | 20.49 | -3.35 | -7.91 | 117.92 | -4.29 | -12.55 | 102.78 | 38.89 | 73.31 | -1.85 | -107.12 | -104.68 | 23.36 | 4.61 | -0.64 |
| 23Q3 (16) | 1.61 | 47.71 | 54.81 | 25.18 | 1.45 | 1.0 | 9.22 | -6.4 | 11.35 | 12.54 | 29.28 | 30.08 | 10.86 | 34.41 | 16.4 | 4.02 | 41.05 | 34.9 | 1.91 | 38.41 | 38.41 | 0.16 | 6.67 | 23.08 | 21.20 | 10.36 | 2.17 | 123.21 | -4.93 | -9.87 | 74.00 | -27.06 | -13.92 | 26.00 | 1894.0 | 85.25 | 22.33 | -5.98 | -15.64 |
| 23Q2 (15) | 1.09 | -14.17 | 15.96 | 24.82 | -8.38 | 12.46 | 9.85 | -22.99 | 92.01 | 9.70 | -13.39 | 84.41 | 8.08 | -15.92 | -19.04 | 2.85 | -16.67 | 2.89 | 1.38 | -13.21 | 7.81 | 0.15 | 0.0 | 25.0 | 19.21 | -7.78 | 2.67 | 129.60 | -3.07 | -5.44 | 101.45 | -11.09 | 5.51 | -1.45 | 89.72 | -137.68 | 23.75 | -0.92 | -14.38 |
| 23Q1 (14) | 1.27 | -3.05 | 388.64 | 27.09 | 2.27 | 54.62 | 12.79 | 70.99 | 3356.76 | 11.20 | -10.61 | 303.64 | 9.61 | -4.66 | 274.73 | 3.42 | -5.0 | 359.09 | 1.59 | -4.22 | 469.77 | 0.15 | 0.0 | 50.0 | 20.83 | -6.38 | 105.83 | 133.70 | -0.85 | -5.89 | 114.10 | 92.41 | 1412.18 | -14.10 | -135.67 | -112.97 | 23.97 | 1.96 | -22.02 |
| 22Q4 (13) | 1.31 | 25.96 | 1210.0 | 26.49 | 6.26 | 29.98 | 7.48 | -9.66 | 1068.75 | 12.53 | 29.98 | 902.4 | 10.08 | 8.04 | 747.06 | 3.60 | 20.81 | 1141.38 | 1.66 | 20.29 | 621.74 | 0.15 | 15.38 | 50.0 | 22.25 | 7.23 | 26.06 | 134.84 | -1.36 | -5.5 | 59.30 | -31.02 | -1.16 | 39.53 | 181.69 | -34.11 | 23.51 | -11.18 | -26.53 |
| 22Q3 (12) | 1.04 | 10.64 | 267.74 | 24.93 | 12.96 | 145.37 | 8.28 | 61.4 | 192.31 | 9.64 | 83.27 | 195.45 | 9.33 | -6.51 | 202.08 | 2.98 | 7.58 | 261.08 | 1.38 | 7.81 | 312.31 | 0.13 | 8.33 | 62.5 | 20.75 | 10.9 | 112.82 | 136.70 | -0.26 | -3.6 | 85.96 | -10.6 | -3.29 | 14.04 | 264.91 | 26.32 | 26.47 | -4.58 | -18.98 |
| 22Q2 (11) | 0.94 | 313.64 | 211.9 | 22.07 | 25.97 | 628.38 | 5.13 | 1286.49 | 128.72 | 5.26 | 195.64 | 132.83 | 9.98 | 281.45 | 169.99 | 2.77 | 309.85 | 212.6 | 1.28 | 397.67 | 239.13 | 0.12 | 20.0 | 71.43 | 18.71 | 84.88 | 142.36 | 137.05 | -3.53 | -2.55 | 96.15 | 1205.77 | -14.15 | 3.85 | -96.46 | 132.05 | 27.74 | -9.76 | -18.89 |
| 22Q1 (10) | -0.44 | -540.0 | 6.38 | 17.52 | -14.03 | 72.61 | 0.37 | -42.19 | 103.81 | -5.50 | -540.0 | 25.88 | -5.50 | -562.18 | 25.88 | -1.32 | -555.17 | 0.75 | -0.43 | -286.96 | 4.44 | 0.10 | 0.0 | 25.0 | 10.12 | -42.66 | -34.11 | 142.07 | -0.43 | 4.04 | -8.70 | -114.49 | -106.79 | 108.70 | 81.16 | 439.67 | 30.74 | -3.94 | -4.62 |
| 21Q4 (9) | 0.10 | 116.13 | 131.25 | 20.38 | 100.59 | 65.42 | 0.64 | 107.13 | 107.17 | 1.25 | 112.38 | 128.47 | 1.19 | 113.02 | 124.59 | 0.29 | 115.68 | 132.58 | 0.23 | 135.38 | 188.46 | 0.10 | 25.0 | 25.0 | 17.65 | 81.03 | -3.6 | 142.69 | 0.63 | 6.18 | 60.00 | -32.5 | -70.97 | 60.00 | 440.0 | 156.25 | 32.00 | -2.05 | 0.76 |
| 21Q3 (8) | -0.62 | 26.19 | -181.82 | 10.16 | 235.31 | 63.61 | -8.97 | 49.78 | 8.28 | -10.10 | 36.95 | -40.86 | -9.14 | 35.9 | -144.39 | -1.85 | 24.8 | -193.65 | -0.65 | 29.35 | -364.29 | 0.08 | 14.29 | 14.29 | 9.75 | 26.3 | -45.32 | 141.80 | 0.82 | 0.46 | 88.89 | -20.63 | -34.05 | 11.11 | 192.59 | 131.94 | 32.67 | -4.47 | 11.85 |
| 21Q2 (7) | -0.84 | -78.72 | -411.11 | 3.03 | -70.15 | -84.04 | -17.86 | -84.12 | -919.27 | -16.02 | -115.9 | -2388.57 | -14.26 | -92.18 | -490.68 | -2.46 | -84.96 | -419.48 | -0.92 | -104.44 | -330.0 | 0.07 | -12.5 | -12.5 | 7.72 | -49.74 | -60.69 | 140.64 | 3.0 | -8.28 | 112.00 | -12.5 | -62.67 | -12.00 | 62.5 | 94.0 | 34.20 | 6.11 | 0 |
| 21Q1 (6) | -0.47 | -46.87 | -133.57 | 10.15 | -17.61 | -65.01 | -9.70 | -8.62 | -173.26 | -7.42 | -69.02 | -156.43 | -7.42 | -53.31 | -165.66 | -1.33 | -49.44 | -133.93 | -0.45 | -73.08 | -127.95 | 0.08 | 0.0 | -38.46 | 15.36 | -16.11 | -37.2 | 136.55 | 1.61 | -17.49 | 128.00 | -38.06 | 26.53 | -32.00 | 70.0 | -2652.0 | 32.23 | 1.48 | 0 |
| 20Q4 (5) | -0.32 | -45.45 | -121.05 | 12.32 | 98.39 | -57.53 | -8.93 | 8.69 | -158.06 | -4.39 | 38.77 | -131.38 | -4.84 | -29.41 | -142.87 | -0.89 | -41.27 | -120.89 | -0.26 | -85.71 | -114.94 | 0.08 | 14.29 | -42.86 | 18.31 | 2.69 | -24.09 | 134.38 | -4.8 | -16.09 | 206.67 | 53.33 | 87.71 | -106.67 | -206.67 | -956.0 | 31.76 | 8.73 | 38.69 |
| 20Q3 (4) | -0.22 | -181.48 | 0.0 | 6.21 | -67.3 | 0.0 | -9.78 | -548.62 | 0.0 | -7.17 | -1124.29 | 0.0 | -3.74 | -202.47 | 0.0 | -0.63 | -181.82 | 0.0 | -0.14 | -135.0 | 0.0 | 0.07 | -12.5 | 0.0 | 17.83 | -9.22 | 0.0 | 141.15 | -7.94 | 0.0 | 134.78 | -55.07 | 0.0 | -34.78 | 82.61 | 0.0 | 29.21 | 0 | 0.0 |
| 20Q2 (3) | 0.27 | -80.71 | 0.0 | 18.99 | -34.54 | 0.0 | 2.18 | -83.53 | 0.0 | 0.70 | -94.68 | 0.0 | 3.65 | -67.7 | 0.0 | 0.77 | -80.36 | 0.0 | 0.40 | -75.16 | 0.0 | 0.08 | -38.46 | 0.0 | 19.64 | -19.71 | 0.0 | 153.33 | -7.35 | 0.0 | 300.00 | 196.55 | 0.0 | -200.00 | -17100.0 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 1.40 | -7.89 | 0.0 | 29.01 | 0.0 | 0.0 | 13.24 | -13.91 | 0.0 | 13.15 | -6.0 | 0.0 | 11.30 | 0.09 | 0.0 | 3.92 | -7.98 | 0.0 | 1.61 | -7.47 | 0.0 | 0.13 | -7.14 | 0.0 | 24.46 | 1.41 | 0.0 | 165.50 | 3.35 | 0.0 | 101.16 | -8.12 | 0.0 | -1.16 | 88.49 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 1.52 | 0.0 | 0.0 | 29.01 | 0.0 | 0.0 | 15.38 | 0.0 | 0.0 | 13.99 | 0.0 | 0.0 | 11.29 | 0.0 | 0.0 | 4.26 | 0.0 | 0.0 | 1.74 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 24.12 | 0.0 | 0.0 | 160.14 | 0.0 | 0.0 | 110.10 | 0.0 | 0.0 | -10.10 | 0.0 | 0.0 | 22.90 | 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) | 5.77 | 102.46 | 26.46 | 13.42 | 11.18 | 93.43 | 7.62 | -27.66 | 11.57 | 75.04 | 10.02 | 46.49 | 14.38 | 78.41 | 6.92 | 79.74 | 0.64 | 30.61 | 20.48 | 9.52 | 117.92 | -12.55 | 96.62 | 10.31 | 3.38 | -72.77 | 0.14 | -36.96 | 23.32 | -12.56 |
| 2022 (9) | 2.85 | 0 | 23.33 | 100.26 | 5.78 | 0 | 10.53 | -41.33 | 6.61 | 0 | 6.84 | 0 | 8.06 | 0 | 3.85 | 0 | 0.49 | 48.48 | 18.70 | 44.96 | 134.84 | -5.5 | 87.59 | -21.4 | 12.41 | 0 | 0.22 | -32.74 | 26.67 | -18.44 |
| 2021 (8) | -1.84 | 0 | 11.65 | -39.1 | -8.22 | 0 | 17.95 | 15.44 | -7.39 | 0 | -6.78 | 0 | -5.30 | 0 | -1.78 | 0 | 0.33 | -8.33 | 12.90 | -38.25 | 142.69 | 6.18 | 111.43 | 67.14 | -11.43 | 0 | 0.33 | -20.7 | 32.70 | 14.98 |
| 2020 (7) | 1.14 | -82.88 | 19.13 | -36.51 | 1.97 | -88.28 | 15.55 | 92.08 | 3.00 | -81.55 | 3.51 | -71.83 | 3.16 | -83.65 | 1.73 | -77.88 | 0.36 | -38.98 | 20.89 | -18.97 | 134.38 | -16.09 | 66.67 | -35.45 | 33.33 | 0 | 0.41 | -2.71 | 28.44 | 30.88 |
| 2019 (6) | 6.66 | 16.43 | 30.13 | -2.52 | 16.81 | 5.66 | 8.10 | 0.28 | 16.26 | -4.52 | 12.46 | -5.68 | 19.33 | 4.04 | 7.82 | 4.69 | 0.59 | 11.32 | 25.78 | -2.09 | 160.14 | -4.64 | 103.28 | 10.39 | -3.49 | 0 | 0.42 | 29.04 | 21.73 | -7.96 |
| 2018 (5) | 5.72 | 62.5 | 30.91 | 10.08 | 15.91 | 12.76 | 8.07 | -10.11 | 17.03 | 27.28 | 13.21 | 24.74 | 18.58 | 48.28 | 7.47 | 42.56 | 0.53 | 15.22 | 26.33 | 11.71 | 167.94 | 6.68 | 93.56 | -11.37 | 6.70 | 0 | 0.33 | 0 | 23.61 | -2.07 |
| 2017 (4) | 3.52 | -16.19 | 28.08 | -13.28 | 14.11 | -16.41 | 8.98 | 11.45 | 13.38 | -19.3 | 10.59 | -21.61 | 12.53 | -22.13 | 5.24 | -29.48 | 0.46 | -14.81 | 23.57 | -6.73 | 157.43 | -3.08 | 105.56 | 3.65 | -5.56 | 0 | 0.00 | 0 | 24.11 | -6.88 |
| 2016 (3) | 4.20 | -7.28 | 32.38 | -5.65 | 16.88 | -7.1 | 8.06 | 1.09 | 16.58 | -7.32 | 13.51 | -12.5 | 16.09 | -30.59 | 7.43 | -29.97 | 0.54 | -18.18 | 25.27 | -6.27 | 162.44 | 104.84 | 101.84 | 0.38 | -1.84 | 0 | 0.00 | 0 | 25.89 | 1.53 |
| 2015 (2) | 4.53 | 0 | 34.32 | 0.91 | 18.17 | 20.01 | 7.97 | 1.64 | 17.89 | 0 | 15.44 | 0 | 23.18 | 0 | 10.61 | 0 | 0.66 | 4.76 | 26.96 | 225.6 | 79.30 | -62.6 | 101.45 | 0 | -1.45 | 0 | 0.00 | 0 | 25.50 | 0.47 |
| 2014 (1) | -1.32 | 0 | 34.01 | 0 | 15.14 | 0 | 7.84 | -8.3 | -1.20 | 0 | -4.05 | 0 | -7.21 | 0 | -1.86 | 0 | 0.63 | 23.53 | 8.28 | -65.46 | 212.06 | 35.85 | -1300.00 | 0 | 1406.25 | 0 | 0.00 | 0 | 25.38 | 2.17 |
