- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q1 (20) | 0.11 | 133.33 | 139.29 | 11.97 | 32.27 | 57.5 | -1.19 | 53.88 | 86.6 | 4.48 | 149.67 | 141.91 | 3.60 | 152.25 | 136.22 | 1.19 | 143.43 | 135.84 | 0.85 | 173.91 | 155.56 | 0.18 | -10.0 | 5.88 | 10.99 | 383.25 | 330.88 | 82.69 | -10.42 | -21.13 | -25.00 | -184.09 | -130.36 | 125.00 | 71.3 | 608.33 | 22.86 | 9.69 | -27.95 |
| 23Q4 (19) | -0.33 | -10.0 | -3.13 | 9.05 | 145.26 | 8.25 | -2.58 | 72.96 | 70.34 | -9.02 | -26.33 | 29.91 | -6.89 | 8.62 | 36.85 | -2.74 | 11.61 | 17.72 | -1.15 | 3.36 | 31.14 | 0.20 | 5.26 | 17.65 | -3.88 | 0 | -28.05 | 92.31 | -14.51 | 5.57 | 29.73 | -77.7 | -56.55 | 72.97 | 318.92 | 131.08 | 20.84 | -7.34 | -32.62 |
| 23Q3 (18) | -0.30 | -147.62 | -114.29 | 3.69 | -75.51 | 314.53 | -9.54 | -330.43 | 60.68 | -7.14 | -163.3 | 16.98 | -7.54 | -174.58 | 3.95 | -3.10 | -156.47 | -85.63 | -1.19 | -143.12 | -50.63 | 0.19 | -24.0 | 58.33 | 0.00 | -100.0 | 100.0 | 107.98 | -14.46 | 31.83 | 133.33 | 263.64 | -52.94 | -33.33 | -152.63 | 81.82 | 22.49 | 0.94 | -42.3 |
| 23Q2 (17) | 0.63 | 325.0 | 3250.0 | 15.07 | 98.29 | 171.04 | 4.14 | 146.62 | 138.09 | 11.28 | 205.52 | 508.7 | 10.11 | 201.71 | 865.91 | 5.49 | 265.36 | 1507.69 | 2.76 | 280.39 | 2400.0 | 0.25 | 47.06 | 56.25 | 15.09 | 417.02 | 401.33 | 126.23 | 20.4 | 52.12 | 36.67 | -55.48 | -91.11 | 63.33 | 258.89 | 121.11 | 22.28 | -29.78 | -16.74 |
| 23Q1 (16) | -0.28 | 12.5 | 34.88 | 7.60 | -9.09 | 1233.33 | -8.88 | -2.07 | 54.88 | -10.69 | 16.94 | 37.67 | -9.94 | 8.89 | 33.91 | -3.32 | 0.3 | 12.86 | -1.53 | 8.38 | 23.12 | 0.17 | 0.0 | 21.43 | -4.76 | -57.1 | 56.13 | 104.84 | 19.9 | 21.92 | 82.35 | 20.36 | -28.95 | 17.65 | -44.12 | 210.92 | 31.73 | 2.59 | -1.76 |
| 22Q4 (15) | -0.32 | -128.57 | -6.67 | 8.36 | 586.05 | 85.78 | -8.70 | 64.14 | -7.14 | -12.87 | -49.65 | -38.69 | -10.91 | -38.98 | -63.32 | -3.33 | -99.4 | -32.14 | -1.67 | -111.39 | -28.46 | 0.17 | 41.67 | -15.0 | -3.03 | -113.38 | 52.73 | 87.44 | 6.75 | 4.63 | 68.42 | -75.85 | -23.03 | 31.58 | 117.22 | 127.37 | 30.93 | -20.65 | 33.72 |
| 22Q3 (14) | -0.14 | -600.0 | 36.36 | -1.72 | -130.94 | -133.53 | -24.26 | -123.18 | -283.86 | -8.60 | -211.59 | -33.33 | -7.85 | -494.7 | -60.86 | -1.67 | -328.21 | 8.74 | -0.79 | -558.33 | 15.05 | 0.12 | -25.0 | -40.0 | -1.42 | -147.18 | 61.41 | 81.91 | -1.29 | -3.43 | 283.33 | -31.31 | 183.33 | -183.33 | 38.89 | 0 | 38.98 | 45.67 | 90.05 |
| 22Q2 (13) | -0.02 | 95.35 | 90.0 | 5.56 | 875.44 | -52.8 | -10.87 | 44.77 | -448.99 | -2.76 | 83.91 | 53.14 | -1.32 | 91.22 | 73.01 | -0.39 | 89.76 | 74.51 | -0.12 | 93.97 | 86.52 | 0.16 | 14.29 | -15.79 | 3.01 | 127.74 | 203.44 | 82.98 | -3.5 | -7.55 | 412.50 | 255.88 | 1078.57 | -300.00 | -1785.71 | -561.54 | 26.76 | -17.15 | 13.15 |
| 22Q1 (12) | -0.43 | -43.33 | -2250.0 | 0.57 | -87.33 | -95.34 | -19.68 | -142.36 | -5218.92 | -17.15 | -84.81 | -11533.33 | -15.04 | -125.15 | -4523.53 | -3.81 | -51.19 | -3563.64 | -1.99 | -53.08 | -2311.11 | 0.14 | -30.0 | -36.36 | -10.85 | -69.27 | -419.12 | 85.99 | 2.9 | 77.01 | 115.91 | 30.4 | 157.95 | -15.91 | -214.55 | -107.95 | 32.30 | 39.65 | 45.17 |
| 21Q4 (11) | -0.30 | -36.36 | -900.0 | 4.50 | -12.28 | -76.53 | -8.12 | -28.48 | -199.63 | -9.28 | -43.88 | -1137.33 | -6.68 | -36.89 | -1352.17 | -2.52 | -37.7 | -1226.32 | -1.30 | -39.78 | -12900.0 | 0.20 | 0.0 | -9.09 | -6.41 | -74.18 | -320.27 | 83.57 | -1.47 | 30.84 | 88.89 | -11.11 | 107.41 | 13.89 | 0 | -98.96 | 23.13 | 12.77 | 2.03 |
| 21Q3 (10) | -0.22 | -10.0 | -120.95 | 5.13 | -56.45 | -78.58 | -6.32 | -219.19 | -136.89 | -6.45 | -9.51 | -148.97 | -4.88 | 0.2 | -148.8 | -1.83 | -19.61 | -121.3 | -0.93 | -4.49 | -123.08 | 0.20 | 5.26 | -50.0 | -3.68 | -26.46 | -122.63 | 84.82 | -5.5 | -31.9 | 100.00 | 185.71 | -23.13 | -0.00 | -100.0 | 100.0 | 20.51 | -13.28 | 21.87 |
| 21Q2 (9) | -0.20 | -1100.0 | -123.81 | 11.78 | -3.6 | -47.95 | -1.98 | -435.14 | -114.23 | -5.89 | -4026.67 | -145.2 | -4.89 | -1538.24 | -150.52 | -1.53 | -1490.91 | -121.13 | -0.89 | -1088.89 | -123.8 | 0.19 | -13.64 | -50.0 | -2.91 | -185.59 | -119.58 | 89.76 | 84.77 | -16.6 | 35.00 | 117.5 | -67.33 | 65.00 | -67.5 | 1010.0 | 23.65 | 6.29 | 0 |
| 21Q1 (8) | 0.02 | 166.67 | -90.91 | 12.22 | -36.25 | -31.77 | -0.37 | -104.54 | -108.26 | 0.15 | 120.0 | -97.93 | 0.34 | 173.91 | -93.08 | 0.11 | 157.89 | -94.15 | 0.09 | 1000.0 | -91.82 | 0.22 | 0.0 | 4.76 | 3.40 | 16.84 | -67.21 | 48.58 | -23.94 | -44.14 | -200.00 | 83.33 | -420.0 | 200.00 | -85.0 | 433.33 | 22.25 | -1.85 | 0 |
| 20Q4 (7) | -0.03 | -102.86 | -112.0 | 19.17 | -19.96 | 17.18 | 8.15 | -52.42 | 4.22 | -0.75 | -105.69 | -116.59 | -0.46 | -104.6 | -111.59 | -0.19 | -102.21 | -108.56 | -0.01 | -100.25 | -100.78 | 0.22 | -45.0 | -29.03 | 2.91 | -82.1 | -75.32 | 63.87 | -48.72 | -24.03 | -1200.00 | -1022.39 | -813.51 | 1333.33 | 4530.11 | 1933.33 | 22.67 | 34.7 | 3.05 |
| 20Q3 (6) | 1.05 | 25.0 | 118.75 | 23.95 | 5.83 | 44.71 | 17.13 | 23.15 | 145.77 | 13.17 | 1.07 | 35.08 | 10.00 | 3.31 | 20.48 | 8.59 | 18.65 | 101.64 | 4.03 | 7.75 | 64.49 | 0.40 | 5.26 | 42.86 | 16.26 | 9.42 | 18.51 | 124.56 | 15.73 | 56.8 | 130.10 | 21.42 | 82.14 | -30.10 | -321.36 | -205.34 | 16.83 | 0 | -18.7 |
| 20Q2 (5) | 0.84 | 281.82 | 600.0 | 22.63 | 26.35 | 67.01 | 13.91 | 210.49 | 1536.47 | 13.03 | 80.22 | 195.46 | 9.68 | 97.15 | 285.66 | 7.24 | 285.11 | 558.18 | 3.74 | 240.0 | 442.03 | 0.38 | 80.95 | 65.22 | 14.86 | 43.3 | 74.41 | 107.63 | 23.76 | 28.21 | 107.14 | 71.43 | 471.43 | -7.14 | -119.05 | -108.79 | 0.00 | 0 | -100.0 |
| 20Q1 (4) | 0.22 | -12.0 | 0.0 | 17.91 | 9.47 | 0.0 | 4.48 | -42.71 | 0.0 | 7.23 | 59.96 | 0.0 | 4.91 | 23.68 | 0.0 | 1.88 | -15.32 | 0.0 | 1.10 | -14.06 | 0.0 | 0.21 | -32.26 | 0.0 | 10.37 | -12.04 | 0.0 | 86.97 | 3.45 | 0.0 | 62.50 | -62.84 | 0.0 | 37.50 | 151.56 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (3) | 0.25 | -47.92 | 0.0 | 16.36 | -1.15 | 0.0 | 7.82 | 12.2 | 0.0 | 4.52 | -53.64 | 0.0 | 3.97 | -52.17 | 0.0 | 2.22 | -47.89 | 0.0 | 1.28 | -47.76 | 0.0 | 0.31 | 10.71 | 0.0 | 11.79 | -14.07 | 0.0 | 84.07 | 5.83 | 0.0 | 168.18 | 135.45 | 0.0 | -72.73 | -354.55 | 0.0 | 22.00 | 6.28 | 0.0 |
| 19Q3 (2) | 0.48 | 300.0 | 0.0 | 16.55 | 22.14 | 0.0 | 6.97 | 720.0 | 0.0 | 9.75 | 121.09 | 0.0 | 8.30 | 230.68 | 0.0 | 4.26 | 287.27 | 0.0 | 2.45 | 255.07 | 0.0 | 0.28 | 21.74 | 0.0 | 13.72 | 61.03 | 0.0 | 79.44 | -5.37 | 0.0 | 71.43 | 280.95 | 0.0 | 28.57 | -64.84 | 0.0 | 20.70 | -6.92 | 0.0 |
| 19Q2 (1) | 0.12 | 0.0 | 0.0 | 13.55 | 0.0 | 0.0 | 0.85 | 0.0 | 0.0 | 4.41 | 0.0 | 0.0 | 2.51 | 0.0 | 0.0 | 1.10 | 0.0 | 0.0 | 0.69 | 0.0 | 0.0 | 0.23 | 0.0 | 0.0 | 8.52 | 0.0 | 0.0 | 83.95 | 0.0 | 0.0 | 18.75 | 0.0 | 0.0 | 81.25 | 0.0 | 0.0 | 22.24 | 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) | -0.28 | 0 | 9.34 | 153.12 | -3.38 | 0 | 4.06 | -36.36 | -2.44 | 0 | -2.25 | 0 | -3.74 | 0 | -1.07 | 0 | 0.88 | 51.72 | 2.93 | 0 | 92.31 | 5.57 | 139.02 | -5.29 | -39.02 | 0 | 0.05 | 0 | 23.75 | -25.06 |
| 2022 (9) | -0.90 | 0 | 3.69 | -55.97 | -15.05 | 0 | 6.38 | 126.38 | -10.22 | 0 | -8.61 | 0 | -9.28 | 0 | -4.58 | 0 | 0.58 | -26.58 | -2.91 | 0 | 87.44 | 4.63 | 146.79 | 83.49 | -47.71 | 0 | 0.00 | 0 | 31.69 | 41.73 |
| 2021 (8) | -0.70 | 0 | 8.38 | -61.36 | -4.20 | 0 | 2.82 | 12.82 | -5.26 | 0 | -3.93 | 0 | -5.35 | 0 | -2.95 | 0 | 0.79 | -35.77 | -2.23 | 0 | 83.57 | 30.84 | 80.00 | -39.78 | 20.00 | 0 | 0.00 | 0 | 22.36 | 15.56 |
| 2020 (7) | 2.06 | 139.53 | 21.69 | 37.89 | 12.48 | 155.74 | 2.50 | -45.31 | 9.42 | 87.65 | 7.03 | 83.55 | 14.91 | 93.13 | 8.98 | 103.17 | 1.23 | 16.04 | 12.26 | 22.36 | 63.87 | -24.03 | 132.85 | 37.71 | -32.37 | 0 | 0.00 | 0 | 19.35 | -9.11 |
| 2019 (6) | 0.86 | 0 | 15.73 | 36.31 | 4.88 | 0 | 4.57 | -10.97 | 5.02 | 0 | 3.83 | 0 | 7.72 | 0 | 4.42 | 0 | 1.06 | 7.07 | 10.02 | 102.83 | 84.07 | -13.91 | 96.47 | -64.63 | 2.35 | 0 | 0.06 | 0 | 21.29 | -10.7 |
| 2018 (5) | -0.33 | 0 | 11.54 | 11.18 | -1.94 | 0 | 5.13 | -21.17 | -0.70 | 0 | -1.58 | 0 | -2.92 | 0 | -1.18 | 0 | 0.99 | 23.75 | 4.94 | 0 | 97.65 | 29.24 | 272.73 | 302.38 | -172.73 | 0 | 0.00 | 0 | 23.84 | -10.21 |
| 2017 (4) | -1.06 | 0 | 10.38 | -38.07 | -5.03 | 0 | 6.51 | 28.16 | -7.38 | 0 | -6.51 | 0 | -8.62 | 0 | -4.82 | 0 | 0.80 | -12.09 | -0.25 | 0 | 75.56 | 30.48 | 67.78 | -9.63 | 32.22 | 28.89 | 0.00 | 0 | 26.55 | 0.8 |
| 2016 (3) | 0.56 | 250.0 | 16.76 | 24.06 | 3.17 | 5183.33 | 5.08 | 6.17 | 4.21 | 121.58 | 2.96 | 240.23 | 4.20 | 252.94 | 3.04 | 173.87 | 0.91 | 0.0 | 9.80 | 35.17 | 57.91 | 9.39 | 75.00 | 1850.0 | 25.00 | -75.0 | 0.00 | 0 | 26.34 | -0.98 |
| 2015 (2) | 0.16 | 1500.0 | 13.51 | 7.31 | 0.06 | 0 | 4.78 | -14.48 | 1.90 | 100.0 | 0.87 | 1350.0 | 1.19 | 1387.5 | 1.11 | 208.33 | 0.91 | -1.09 | 7.25 | 1.54 | 52.94 | 12.83 | 3.85 | 0 | 100.00 | -23.53 | 0.00 | 0 | 26.60 | 13.68 |
| 2014 (1) | 0.01 | 0 | 12.59 | 0 | -0.27 | 0 | 5.59 | -5.2 | 0.95 | 0 | 0.06 | 0 | 0.08 | 0 | 0.36 | 0 | 0.92 | 4.55 | 7.14 | 275.79 | 46.92 | 9.6 | -30.77 | 0 | 130.77 | 71.79 | 0.00 | 0 | 23.40 | 11.32 |
