- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q2 (20) | 0.00 | 100.0 | 100.0 | 19.43 | 42.03 | 103.24 | -9.31 | 70.06 | 50.74 | 0.30 | 101.26 | 102.03 | 0.00 | 100.0 | 100.0 | 0.00 | 100.0 | 100.0 | 0.21 | 106.48 | 107.29 | 0.23 | 64.29 | 4.55 | 7.63 | 161.78 | 186.12 | 66.96 | -14.66 | -10.84 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | 100.0 | 23.83 | -25.97 | 26.89 |
| 24Q1 (19) | -0.50 | 26.47 | 27.54 | 13.68 | -1.87 | 30.29 | -31.10 | 7.19 | 8.04 | -23.75 | 43.47 | 39.64 | -24.91 | 30.03 | 28.54 | -6.00 | 21.47 | 9.37 | -3.24 | 23.04 | 4.71 | 0.14 | 16.67 | 40.0 | -12.35 | 58.65 | 52.95 | 78.46 | 11.94 | -5.2 | 131.58 | 61.94 | 51.07 | -31.58 | -244.36 | -344.74 | 32.19 | -13.47 | -0.86 |
| 23Q4 (18) | -0.68 | -51.11 | 26.09 | 13.94 | 31.76 | 116.46 | -33.51 | 21.12 | 19.06 | -42.01 | -43.62 | 14.07 | -35.60 | -44.48 | 19.38 | -7.64 | -60.84 | 4.02 | -4.21 | -67.73 | -1.94 | 0.12 | 9.09 | 20.0 | -29.87 | -81.69 | 19.36 | 70.09 | -7.61 | -16.56 | 81.25 | -44.96 | -4.41 | 21.88 | 145.94 | 45.83 | 37.20 | 19.35 | -29.67 |
| 23Q3 (17) | -0.45 | 16.67 | -742.86 | 10.58 | 10.67 | -26.27 | -42.48 | -124.76 | -2056.35 | -29.25 | -97.77 | -734.49 | -24.64 | -79.07 | -1602.44 | -4.75 | 13.64 | -905.08 | -2.51 | 12.85 | -612.24 | 0.11 | -50.0 | -42.11 | -16.44 | -85.55 | -253.5 | 75.86 | 1.01 | -9.65 | 147.62 | 13.17 | 493.65 | -47.62 | -56.46 | -134.63 | 31.17 | 65.97 | 105.07 |
| 23Q2 (16) | -0.54 | 21.74 | -42.11 | 9.56 | -8.95 | -36.56 | -18.90 | 44.12 | -12.57 | -14.79 | 62.41 | -35.81 | -13.76 | 60.53 | -20.81 | -5.50 | 16.92 | -76.85 | -2.88 | 15.29 | -90.73 | 0.22 | 120.0 | 46.67 | -8.86 | 66.25 | -128.35 | 75.10 | -9.26 | -13.24 | 130.43 | 49.76 | -17.0 | -30.43 | -335.87 | 46.74 | 18.78 | -42.16 | -26.15 |
| 23Q1 (15) | -0.69 | 25.0 | -762.5 | 10.50 | 63.04 | -36.29 | -33.82 | 18.31 | -860.8 | -39.35 | 19.51 | -16495.83 | -34.86 | 21.06 | -2051.85 | -6.62 | 16.83 | -967.74 | -3.40 | 17.68 | -1900.0 | 0.10 | 0.0 | -50.0 | -26.25 | 29.13 | -554.15 | 82.76 | -1.48 | -5.61 | 87.10 | 2.47 | 0 | 12.90 | -13.98 | 0 | 32.47 | -38.61 | 103.96 |
| 22Q4 (14) | -0.92 | -1414.29 | -807.69 | 6.44 | -55.12 | -63.9 | -41.40 | -2001.52 | -1656.39 | -48.89 | -1160.52 | -1821.48 | -44.16 | -2792.68 | -2652.6 | -7.96 | -1449.15 | -888.12 | -4.13 | -942.86 | -735.38 | 0.10 | -47.37 | -65.52 | -37.04 | -445.85 | -674.26 | 84.00 | 0.05 | -10.5 | 85.00 | 326.67 | -15.0 | 15.00 | -89.09 | 0 | 52.89 | 247.96 | 312.56 |
| 22Q3 (13) | 0.07 | 118.42 | -91.67 | 14.35 | -4.78 | -27.05 | -1.97 | 88.27 | -123.23 | 4.61 | 142.33 | -46.89 | 1.64 | 114.4 | -78.65 | 0.59 | 118.97 | -91.49 | 0.49 | 132.45 | -85.42 | 0.19 | 26.67 | -54.76 | 10.71 | 376.03 | -3.08 | 83.96 | -3.0 | -25.47 | -37.50 | -123.86 | -138.71 | 137.50 | 340.62 | 4300.0 | 15.20 | -40.23 | 29.58 |
| 22Q2 (12) | -0.38 | -375.0 | -235.71 | 15.07 | -8.56 | -18.63 | -16.79 | -376.99 | -415.01 | -10.89 | -4637.5 | -376.4 | -11.39 | -603.09 | -483.5 | -3.11 | -401.61 | -232.34 | -1.51 | -788.24 | -225.83 | 0.15 | -25.0 | -57.14 | -3.88 | -167.13 | -157.65 | 86.56 | -1.28 | -27.25 | 157.14 | 0 | 10.92 | -57.14 | 0 | -71.43 | 25.43 | 59.74 | 68.19 |
| 22Q1 (11) | -0.08 | -161.54 | -114.55 | 16.48 | -7.62 | -17.64 | -3.52 | -232.33 | -169.57 | 0.24 | -91.55 | -96.26 | -1.62 | -193.64 | -126.82 | -0.62 | -161.39 | -113.03 | -0.17 | -126.15 | -107.83 | 0.20 | -31.03 | -39.39 | 5.78 | -10.39 | -38.05 | 87.68 | -6.57 | -31.99 | 0.00 | -100.0 | -100.0 | 0.00 | 0 | -100.0 | 15.92 | 24.18 | 15.11 |
| 21Q4 (10) | 0.13 | -84.52 | -77.97 | 17.84 | -9.3 | -10.31 | 2.66 | -68.63 | -68.67 | 2.84 | -67.28 | -57.03 | 1.73 | -77.47 | -74.14 | 1.01 | -85.43 | -81.05 | 0.65 | -80.65 | -73.14 | 0.29 | -30.95 | -17.14 | 6.45 | -41.63 | -30.94 | 93.85 | -16.69 | -34.71 | 100.00 | 3.23 | -24.0 | 0.00 | -100.0 | 100.0 | 12.82 | 9.29 | -7.64 |
| 21Q3 (9) | 0.84 | 200.0 | 18.31 | 19.67 | 6.21 | 1.92 | 8.48 | 59.1 | 26.95 | 8.68 | 120.3 | 14.21 | 7.68 | 158.59 | 2.13 | 6.93 | 194.89 | 4.05 | 3.36 | 180.0 | -10.88 | 0.42 | 20.0 | -16.0 | 11.05 | 64.19 | 11.62 | 112.65 | -5.32 | 5.61 | 96.88 | -31.62 | 10.71 | 3.12 | 109.38 | -75.0 | 11.73 | -22.42 | -5.17 |
| 21Q2 (8) | 0.28 | -49.09 | 142.42 | 18.52 | -7.45 | 4.75 | 5.33 | 5.34 | 141.61 | 3.94 | -38.63 | 140.53 | 2.97 | -50.83 | 129.38 | 2.35 | -50.63 | 137.42 | 1.20 | -44.7 | 129.85 | 0.35 | 6.06 | -12.5 | 6.73 | -27.87 | 303.94 | 118.98 | -7.71 | 93.06 | 141.67 | 79.44 | 10.19 | -33.33 | -258.33 | 0.0 | 15.12 | 9.33 | -44.33 |
| 21Q1 (7) | 0.55 | -6.78 | 0 | 20.01 | 0.6 | 0 | 5.06 | -40.4 | 0 | 6.42 | -2.87 | 0 | 6.04 | -9.72 | 0 | 4.76 | -10.69 | 0 | 2.17 | -10.33 | 0 | 0.33 | -5.71 | 0 | 9.33 | -0.11 | 0 | 128.92 | -10.31 | 0 | 78.95 | -40.0 | 0 | 21.05 | 180.0 | 0 | 13.83 | -0.36 | 0 |
| 20Q4 (6) | 0.59 | -16.9 | 0 | 19.89 | 3.06 | 0 | 8.49 | 27.1 | 0 | 6.61 | -13.03 | 0 | 6.69 | -11.04 | 0 | 5.33 | -19.97 | 0 | 2.42 | -35.81 | 0 | 0.35 | -30.0 | 0 | 9.34 | -5.66 | 0 | 143.74 | 34.75 | 0 | 131.58 | 50.38 | 0 | -26.32 | -310.53 | 0 | 13.88 | 12.21 | 0 |
| 20Q3 (5) | 0.71 | 207.58 | 0 | 19.30 | 9.16 | 0 | 6.68 | 152.15 | 0 | 7.60 | 178.19 | 0 | 7.52 | 174.38 | 0 | 6.66 | 206.05 | 0 | 3.77 | 193.78 | 0 | 0.50 | 25.0 | 0 | 9.90 | 400.0 | 0 | 106.67 | 73.08 | 0 | 87.50 | -31.94 | 0 | 12.50 | 137.5 | 0 | 12.37 | -54.46 | 0 |
| 20Q2 (4) | -0.66 | 0 | 0.0 | 17.68 | 0 | 0.0 | -12.81 | 0 | 0.0 | -9.72 | 0 | 0.0 | -10.11 | 0 | 0.0 | -6.28 | 0 | 0.0 | -4.02 | 0 | 0.0 | 0.40 | 0 | 0.0 | -3.30 | 0 | 0.0 | 61.63 | 0 | 0.0 | 128.57 | 0 | 0.0 | -33.33 | 0 | 0.0 | 27.16 | 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) | -2.37 | 0 | 10.81 | -22.9 | -29.28 | 0 | 6.46 | 37.15 | -27.94 | 0 | -24.46 | 0 | -24.25 | 0 | -12.85 | 0 | 0.56 | -17.65 | -18.09 | 0 | 70.09 | -16.56 | 104.63 | -25.95 | -4.63 | 0 | 3.05 | 143.35 | 27.57 | 17.92 |
| 2022 (9) | -1.30 | 0 | 14.02 | -26.56 | -11.75 | 0 | 4.71 | 152.1 | -8.29 | 0 | -9.20 | 0 | -11.81 | 0 | -5.54 | 0 | 0.68 | -52.11 | -1.27 | 0 | 84.00 | -10.5 | 141.30 | 43.32 | -41.30 | 0 | 1.25 | 14.73 | 23.38 | 75.53 |
| 2021 (8) | 1.77 | 172.31 | 19.09 | 0.0 | 5.67 | 153.12 | 1.87 | -30.95 | 5.75 | 110.62 | 4.89 | 85.93 | 15.09 | 155.33 | 7.58 | 142.95 | 1.42 | 24.56 | 8.61 | 37.32 | 93.85 | -34.71 | 98.59 | 20.5 | 1.41 | -92.25 | 1.09 | 9.82 | 13.32 | -20.53 |
| 2020 (7) | 0.65 | 0 | 19.09 | 2.14 | 2.24 | 0 | 2.71 | -28.56 | 2.73 | 0 | 2.63 | 0 | 5.91 | 0 | 3.12 | 0 | 1.14 | 26.67 | 6.27 | 0 | 143.74 | 204.08 | 81.82 | -24.64 | 18.18 | 0 | 0.99 | 0 | 16.76 | -27.51 |
| 2019 (6) | -0.91 | 0 | 18.69 | 19.2 | -7.24 | 0 | 3.79 | 153.41 | -6.54 | 0 | -5.66 | 0 | -8.07 | 0 | -5.01 | 0 | 0.90 | -16.67 | -1.70 | 0 | 47.27 | -32.23 | 108.57 | 0 | -11.43 | 0 | 0.00 | 0 | 23.12 | 26.41 |
| 2018 (5) | 0.19 | 0 | 15.68 | -9.73 | -1.00 | 0 | 1.49 | -23.36 | 0.74 | 0 | 0.93 | 0 | 1.61 | 0 | 1.00 | 0 | 1.08 | 21.35 | 2.99 | 0 | 69.75 | 33.16 | -140.00 | 0 | 240.00 | 4460.0 | 0.00 | 0 | 18.29 | -22.14 |
| 2017 (4) | -0.52 | 0 | 17.37 | -11.92 | -3.17 | 0 | 1.95 | 45.53 | -3.39 | 0 | -3.02 | 0 | -4.33 | 0 | -2.68 | 0 | 0.89 | -31.01 | -0.71 | 0 | 52.38 | -26.01 | 94.74 | 0 | 5.26 | -97.37 | 0.00 | 0 | 23.49 | 61.33 |
| 2016 (3) | 0.24 | -86.59 | 19.72 | -13.43 | -0.73 | 0 | 1.34 | -1.02 | 0.87 | -86.59 | 0.82 | -83.57 | 1.97 | -85.77 | 1.05 | -84.98 | 1.29 | -7.86 | 2.68 | -67.4 | 70.79 | -31.85 | -87.50 | 0 | 200.00 | 570.0 | 0.00 | 0 | 14.56 | -9.73 |
| 2015 (2) | 1.79 | 20.95 | 22.78 | 15.52 | 4.56 | 27.73 | 1.35 | -0.48 | 6.49 | 30.58 | 4.99 | 27.95 | 13.84 | 12.61 | 6.99 | 3.86 | 1.40 | -18.6 | 8.22 | 26.27 | 103.88 | 13.62 | 70.15 | -3.31 | 29.85 | 8.74 | 0.00 | 0 | 16.13 | -20.11 |
| 2014 (1) | 1.48 | 0 | 19.72 | 0 | 3.57 | 0 | 1.36 | 0 | 4.97 | 0 | 3.90 | 0 | 12.29 | 0 | 6.73 | 0 | 1.72 | 0 | 6.51 | 0 | 91.43 | 0 | 72.55 | 0 | 27.45 | 0 | 0.00 | 0 | 20.19 | 0 |
