- 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) | -0.37 | -54.17 | -5.71 | -40.36 | 37.14 | 55.19 | -56.82 | 32.04 | 48.02 | -75.81 | -16.81 | 26.72 | -73.78 | -17.06 | 29.97 | -3.62 | -63.8 | -21.07 | -2.22 | -63.24 | -15.03 | 0.03 | 50.0 | 50.0 | -38.44 | -965.77 | -209.75 | 59.37 | 11.87 | 22.94 | 74.84 | -41.95 | -29.27 | 25.16 | 186.98 | 532.08 | 22.98 | -22.39 | 16.06 |
| 24Q2 (19) | -0.24 | 17.24 | -84.62 | -64.21 | 17.3 | -143.5 | -83.61 | 15.3 | -106.65 | -64.90 | 18.66 | -135.4 | -63.03 | 19.97 | -143.92 | -2.21 | 11.95 | -88.89 | -1.36 | 15.0 | -91.55 | 0.02 | 0.0 | -33.33 | 4.44 | -37.38 | -84.26 | 53.07 | 7.8 | 10.91 | 128.92 | 4.2 | -12.44 | -28.92 | -21.88 | 37.75 | 29.61 | -0.24 | 51.15 |
| 24Q1 (18) | -0.29 | 32.56 | -38.1 | -77.64 | 52.53 | -112.19 | -98.71 | 50.79 | -92.45 | -79.79 | 57.93 | -74.18 | -78.76 | 59.64 | -75.33 | -2.51 | 31.42 | -41.01 | -1.60 | 32.77 | -40.35 | 0.02 | 100.0 | -33.33 | 7.09 | 115.01 | -60.37 | 49.23 | 1.01 | 5.71 | 123.73 | 16.87 | 10.18 | -23.73 | -304.58 | -101.69 | 29.68 | -44.41 | 30.46 |
| 23Q4 (17) | -0.43 | -22.86 | -616.67 | -163.56 | -81.59 | -3908.82 | -200.60 | -83.5 | -1275.86 | -189.65 | -83.33 | -1129.1 | -195.12 | -85.19 | -1610.08 | -3.66 | -22.41 | -463.08 | -2.38 | -23.32 | -526.32 | 0.01 | -50.0 | -75.0 | -47.22 | -280.5 | -273.16 | 48.74 | 0.93 | 8.67 | 105.87 | 0.04 | 11.95 | -5.87 | -0.74 | -207.92 | 53.39 | 169.65 | 441.48 |
| 23Q3 (16) | -0.35 | -169.23 | -250.0 | -90.07 | -241.56 | -874.78 | -109.32 | -170.19 | -412.52 | -103.45 | -275.23 | -488.12 | -105.36 | -307.74 | -642.49 | -2.99 | -155.56 | -339.71 | -1.93 | -171.83 | -382.5 | 0.02 | -33.33 | -33.33 | -12.41 | -144.01 | -138.29 | 48.29 | 0.92 | 7.0 | 105.82 | -28.13 | -11.98 | -5.82 | 87.47 | 72.73 | 19.80 | 1.07 | 5.71 |
| 23Q2 (15) | -0.13 | 38.1 | -208.33 | -26.37 | 27.93 | -321.41 | -40.46 | 21.12 | -1111.5 | -27.57 | 39.82 | -249.84 | -25.84 | 42.48 | -259.9 | -1.17 | 34.27 | -223.16 | -0.71 | 37.72 | -202.9 | 0.03 | 0.0 | -25.0 | 28.20 | 57.63 | -47.74 | 47.85 | 2.75 | 1.18 | 147.24 | 31.12 | 571.43 | -46.46 | -294.88 | -159.51 | 19.59 | -13.89 | 73.52 |
| 23Q1 (14) | -0.21 | -250.0 | -400.0 | -36.59 | -796.81 | -293.8 | -51.29 | -251.78 | -587.55 | -45.81 | -196.89 | -491.87 | -44.92 | -293.69 | -552.37 | -1.78 | -173.85 | -378.12 | -1.14 | -200.0 | -342.55 | 0.03 | -25.0 | -25.0 | 17.89 | -34.4 | -58.71 | 46.57 | 3.84 | -15.23 | 112.30 | 18.75 | 24.61 | -11.76 | -316.47 | -219.12 | 22.75 | 130.73 | 56.04 |
| 22Q4 (13) | -0.06 | 40.0 | -122.22 | -4.08 | 55.84 | -111.95 | -14.58 | 31.65 | -156.73 | -15.43 | 12.28 | -155.4 | -11.41 | 19.59 | -147.84 | -0.65 | 4.41 | -128.89 | -0.38 | 5.0 | -124.68 | 0.04 | 33.33 | -33.33 | 27.27 | -15.86 | -45.19 | 44.85 | -0.62 | -13.4 | 94.57 | -21.34 | 2.57 | 5.43 | 125.46 | -30.34 | 9.86 | -47.36 | -21.12 |
| 22Q3 (12) | -0.10 | -183.33 | -141.67 | -9.24 | -177.58 | -126.71 | -21.33 | -633.25 | -180.01 | -17.59 | -195.6 | -163.46 | -14.19 | -187.81 | -161.27 | -0.68 | -171.58 | -132.69 | -0.40 | -157.97 | -128.37 | 0.03 | -25.0 | -50.0 | 32.41 | -39.94 | -36.6 | 45.13 | -4.57 | -18.06 | 120.22 | 448.22 | 25.01 | -21.35 | -127.35 | -657.19 | 18.73 | 65.9 | 41.47 |
| 22Q2 (11) | 0.12 | 71.43 | -72.09 | 11.91 | -36.92 | -66.4 | 4.00 | -61.98 | -85.48 | 18.40 | 57.4 | -63.31 | 16.16 | 62.74 | -59.23 | 0.95 | 48.44 | -72.46 | 0.69 | 46.81 | -67.14 | 0.04 | 0.0 | -20.0 | 53.96 | 24.53 | -28.6 | 47.29 | -13.92 | -16.58 | 21.93 | -75.67 | -60.05 | 78.07 | 690.46 | 73.09 | 11.29 | -22.57 | -7.76 |
| 22Q1 (10) | 0.07 | -74.07 | -76.67 | 18.88 | -44.7 | -43.64 | 10.52 | -59.07 | -60.33 | 11.69 | -58.03 | -63.1 | 9.93 | -58.36 | -61.06 | 0.64 | -71.56 | -74.19 | 0.47 | -69.48 | -67.59 | 0.04 | -33.33 | -20.0 | 43.33 | -12.9 | -22.8 | 54.94 | 6.08 | -36.73 | 90.12 | -2.25 | 7.72 | 9.88 | 26.6 | -39.53 | 14.58 | 16.64 | 24.72 |
| 21Q4 (9) | 0.27 | 12.5 | 3.85 | 34.14 | -1.3 | 6.75 | 25.70 | -3.6 | -2.87 | 27.85 | 0.47 | 0.0 | 23.85 | 2.98 | 1.27 | 2.25 | 8.17 | -1.75 | 1.54 | 9.22 | 8.45 | 0.06 | 0.0 | 0.0 | 49.75 | -2.68 | -9.33 | 51.79 | -5.97 | -34.85 | 92.20 | -4.13 | -2.95 | 7.80 | 103.62 | 56.03 | 12.50 | -5.59 | 84.37 |
| 21Q3 (8) | 0.24 | -44.19 | 166.67 | 34.59 | -2.43 | 77.75 | 26.66 | -3.23 | 168.75 | 27.72 | -44.73 | 65.99 | 23.16 | -41.57 | 81.22 | 2.08 | -39.71 | 118.95 | 1.41 | -32.86 | 110.45 | 0.06 | 20.0 | 50.0 | 51.12 | -32.35 | -8.11 | 55.08 | -2.84 | -19.6 | 96.17 | 75.18 | 60.74 | 3.83 | -91.51 | -90.66 | 13.24 | 8.17 | -9.87 |
| 21Q2 (7) | 0.43 | 43.33 | 530.0 | 35.45 | 5.82 | 3005.74 | 27.55 | 3.88 | 272.51 | 50.15 | 58.3 | 431.46 | 39.64 | 55.45 | 346.21 | 3.45 | 39.11 | 467.02 | 2.10 | 44.83 | 600.0 | 0.05 | 0.0 | 66.67 | 75.57 | 34.63 | 113.9 | 56.69 | -34.72 | -21.88 | 54.90 | -34.39 | -47.6 | 45.10 | 176.14 | 857.72 | 12.24 | 4.7 | -34.02 |
| 21Q1 (6) | 0.30 | 15.38 | 57.89 | 33.50 | 4.75 | 6.48 | 26.52 | 0.23 | 25.33 | 31.68 | 13.75 | 68.69 | 25.50 | 8.28 | 64.94 | 2.48 | 8.3 | 71.03 | 1.45 | 2.11 | 52.63 | 0.05 | -16.67 | 0.0 | 56.13 | 2.3 | 10.91 | 86.84 | 9.25 | 8.36 | 83.67 | -11.93 | -25.58 | 16.33 | 226.67 | 231.44 | 11.69 | 72.42 | -12.24 |
| 20Q4 (5) | 0.26 | 188.89 | -10.34 | 31.98 | 64.34 | -21.62 | 26.46 | 166.73 | 7.82 | 27.85 | 66.77 | 22.74 | 23.55 | 84.27 | 31.86 | 2.29 | 141.05 | 8.53 | 1.42 | 111.94 | 9.23 | 0.06 | 50.0 | 0.0 | 54.87 | -1.37 | 12.44 | 79.49 | 16.03 | 3.52 | 95.00 | 58.79 | -12.23 | 5.00 | -87.81 | 160.71 | 6.78 | -53.85 | 0 |
| 20Q3 (4) | 0.09 | 190.0 | 0.0 | 19.46 | 1695.08 | 0.0 | 9.92 | 162.12 | 0.0 | 16.70 | 210.38 | 0.0 | 12.78 | 179.38 | 0.0 | 0.95 | 201.06 | 0.0 | 0.67 | 259.52 | 0.0 | 0.04 | 33.33 | 0.0 | 55.63 | 57.46 | 0.0 | 68.51 | -5.59 | 0.0 | 59.83 | -42.89 | 0.0 | 41.03 | 789.23 | 0.0 | 14.69 | -20.81 | 0.0 |
| 20Q2 (3) | -0.10 | -152.63 | 0.0 | -1.22 | -103.88 | 0.0 | -15.97 | -175.47 | 0.0 | -15.13 | -180.56 | 0.0 | -16.10 | -204.14 | 0.0 | -0.94 | -164.83 | 0.0 | -0.42 | -144.21 | 0.0 | 0.03 | -40.0 | 0.0 | 35.33 | -30.19 | 0.0 | 72.57 | -9.45 | 0.0 | 104.76 | -6.82 | 0.0 | -5.95 | 52.1 | 0.0 | 18.55 | 39.26 | 0.0 |
| 20Q1 (2) | 0.19 | -34.48 | 0.0 | 31.46 | -22.89 | 0.0 | 21.16 | -13.77 | 0.0 | 18.78 | -17.23 | 0.0 | 15.46 | -13.44 | 0.0 | 1.45 | -31.28 | 0.0 | 0.95 | -26.92 | 0.0 | 0.05 | -16.67 | 0.0 | 50.61 | 3.71 | 0.0 | 80.14 | 4.36 | 0.0 | 112.43 | 3.87 | 0.0 | -12.43 | -50.89 | 0.0 | 13.32 | 0 | 0.0 |
| 19Q4 (1) | 0.29 | 0.0 | 0.0 | 40.80 | 0.0 | 0.0 | 24.54 | 0.0 | 0.0 | 22.69 | 0.0 | 0.0 | 17.86 | 0.0 | 0.0 | 2.11 | 0.0 | 0.0 | 1.30 | 0.0 | 0.0 | 0.06 | 0.0 | 0.0 | 48.80 | 0.0 | 0.0 | 76.79 | 0.0 | 0.0 | 108.24 | 0.0 | 0.0 | -8.24 | 0.0 | 0.0 | 0.00 | 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) | -1.12 | 0 | -61.55 | 0 | -80.01 | 0 | 72.00 | 96.4 | -71.15 | 0 | -71.42 | 0 | -9.60 | 0 | -6.20 | 0 | 0.09 | -40.0 | 6.31 | -84.15 | 48.74 | 8.67 | 112.45 | 0 | -12.45 | 0 | 0.14 | -11.44 | 25.17 | 87.42 |
| 2022 (9) | 0.03 | -97.58 | 5.54 | -83.9 | -4.02 | 0 | 36.66 | 69.63 | 0.59 | -98.26 | 1.22 | -95.6 | 0.27 | -97.34 | 0.44 | -93.22 | 0.15 | -31.82 | 39.82 | -30.96 | 44.85 | -13.4 | -692.86 | 0 | 792.86 | 3543.16 | 0.15 | 69.45 | 13.43 | 8.13 |
| 2021 (8) | 1.24 | 188.37 | 34.40 | 49.24 | 26.57 | 95.8 | 21.61 | -32.3 | 33.95 | 126.48 | 27.75 | 137.99 | 10.15 | 172.85 | 6.49 | 155.51 | 0.22 | 22.22 | 57.68 | 14.63 | 51.79 | -34.85 | 78.24 | -13.55 | 21.76 | 129.0 | 0.09 | -7.46 | 12.42 | -1.35 |
| 2020 (7) | 0.43 | -68.15 | 23.05 | -38.92 | 13.57 | -52.6 | 31.92 | 38.49 | 14.99 | -43.92 | 11.66 | -47.85 | 3.72 | -67.22 | 2.54 | -61.46 | 0.18 | -30.77 | 50.32 | -5.57 | 79.49 | 3.52 | 90.50 | -15.53 | 9.50 | 0 | 0.10 | -76.59 | 12.59 | 25.52 |
| 2019 (6) | 1.35 | 440.0 | 37.74 | 123.71 | 28.63 | 375.58 | 23.05 | -42.52 | 26.73 | 321.61 | 22.36 | 257.76 | 11.35 | 376.89 | 6.59 | 278.74 | 0.26 | 52.94 | 53.29 | 2.92 | 76.79 | -32.37 | 107.14 | 12.78 | -7.14 | 0 | 0.42 | 260.7 | 10.03 | 13.08 |
| 2018 (5) | 0.25 | 31.58 | 16.87 | 27.8 | 6.02 | 102.01 | 40.10 | -19.74 | 6.34 | 80.63 | 6.25 | 20.19 | 2.38 | 20.2 | 1.74 | 3.57 | 0.17 | 13.33 | 51.78 | -14.5 | 113.54 | -20.91 | 95.00 | 11.42 | 5.00 | -66.07 | 0.12 | 0 | 8.87 | -2.53 |
| 2017 (4) | 0.19 | 0 | 13.20 | 0 | 2.98 | 0 | 49.96 | -3.43 | 3.51 | 0 | 5.20 | 0 | 1.98 | 0 | 1.68 | 0 | 0.15 | -6.25 | 60.56 | 51.29 | 143.55 | -7.36 | 85.26 | 23.52 | 14.74 | -52.42 | 0.00 | 0 | 9.10 | 11.66 |
| 2016 (3) | -0.67 | 0 | -5.38 | 0 | -12.48 | 0 | 51.74 | 58.8 | -18.07 | 0 | -18.11 | 0 | -6.76 | 0 | -2.27 | 0 | 0.16 | -38.46 | 40.03 | -15.14 | 154.96 | 50.94 | 69.03 | -50.4 | 30.97 | 0 | 0.00 | 0 | 8.15 | 65.31 |
| 2015 (2) | 0.17 | -70.69 | 17.61 | -32.43 | 12.98 | -32.68 | 32.58 | 5.37 | 9.34 | -42.52 | 2.98 | -76.93 | 4.57 | -56.52 | 2.97 | -28.95 | 0.26 | 18.18 | 47.17 | -12.75 | 102.66 | -21.9 | 139.18 | 17.38 | -39.18 | 0 | 0.00 | 0 | 4.93 | -0.8 |
| 2014 (1) | 0.58 | 65.71 | 26.06 | 0 | 19.28 | 0 | 30.92 | -24.52 | 16.25 | 0 | 12.92 | 0 | 10.51 | 0 | 4.18 | 0 | 0.22 | 4.76 | 54.06 | -33.82 | 131.44 | -66.62 | 118.57 | 8.74 | -18.57 | 0 | 0.00 | 0 | 4.97 | -73.37 |
