- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 22Q2 (20) | -1.65 | -73.68 | -65.0 | -61.93 | -155.91 | -274.88 | -93.07 | -85.66 | -147.0 | -103.15 | -74.89 | -106.8 | -130.41 | -113.3 | -162.82 | 0.00 | 100.0 | 100.0 | -4.32 | -103.77 | -102.82 | 0.04 | 0.0 | -20.0 | -31.18 | -1233.82 | -388.71 | 4375.46 | -45.79 | 81.43 | 90.62 | 5.45 | 19.69 | 9.38 | -40.0 | -61.4 | 0.00 | -100.0 | -100.0 |
| 22Q1 (19) | -0.95 | -326.19 | -239.29 | -24.20 | 16.84 | -77.68 | -50.13 | 18.05 | -47.66 | -58.98 | -247.49 | -343.79 | -61.14 | -296.78 | -341.76 | -103.55 | -389.25 | -909.26 | -2.12 | -246.21 | -583.87 | 0.04 | 33.33 | -20.0 | 2.75 | -97.44 | -90.92 | 8071.25 | 197.88 | 446.62 | 85.94 | 156.3 | -65.98 | 15.62 | -93.82 | 110.24 | 37.53 | -16.36 | 19.64 |
| 21Q4 (18) | 0.42 | 167.74 | 220.0 | -29.10 | -103.5 | -380.2 | -61.17 | -60.68 | -110.57 | 39.99 | 224.31 | -24.7 | 31.07 | 194.01 | 272.13 | 35.80 | 173.24 | 406.77 | 1.45 | 219.83 | 422.22 | 0.03 | -40.0 | -40.0 | 107.45 | 603.67 | 3.62 | 2709.57 | -31.36 | 95.84 | -152.63 | -228.21 | -181.78 | 252.63 | 1426.32 | 63.87 | 44.87 | 38.83 | 48.23 |
| 21Q3 (17) | -0.62 | 38.0 | 57.82 | -14.30 | 13.44 | 45.25 | -38.07 | -1.04 | 6.25 | -32.17 | 35.51 | 26.47 | -33.05 | 33.39 | 54.68 | -48.88 | -1.75 | -29.11 | -1.21 | 43.19 | 59.26 | 0.05 | 0.0 | 0.0 | 15.27 | 339.34 | 169.31 | 3947.62 | 63.69 | 208.03 | 119.05 | 57.23 | 29.49 | -19.05 | -178.43 | -395.24 | 32.32 | 5.07 | -5.39 |
| 21Q2 (16) | -1.00 | -257.14 | 21.26 | -16.52 | -21.29 | 50.36 | -37.68 | -10.99 | 39.29 | -49.88 | -275.32 | 20.43 | -49.62 | -258.53 | 22.95 | -48.04 | -368.23 | -101.59 | -2.13 | -587.1 | 12.35 | 0.05 | 0.0 | 25.0 | -6.38 | -121.07 | 48.21 | 2411.62 | 63.32 | 178.74 | 75.71 | -70.03 | -24.29 | 24.29 | 115.91 | 1988.57 | 30.76 | -1.94 | 0 |
| 21Q1 (15) | -0.28 | 20.0 | 71.72 | -13.62 | -124.75 | 21.81 | -33.95 | -16.87 | 16.87 | -13.29 | -125.02 | 73.85 | -13.84 | 23.32 | 72.38 | -10.26 | 12.08 | 32.72 | -0.31 | 31.11 | 82.39 | 0.05 | 0.0 | 25.0 | 30.28 | -70.8 | 0 | 1476.58 | 6.72 | 119.5 | 252.63 | 566.4 | 215.79 | -152.63 | -199.0 | -863.16 | 31.37 | 3.63 | -19.97 |
| 20Q4 (14) | -0.35 | 76.19 | -337.5 | -6.06 | 76.8 | -326.76 | -29.05 | 28.47 | -42.05 | 53.11 | 221.39 | 1824.35 | -18.05 | 75.25 | -616.27 | -11.67 | 69.18 | -970.64 | -0.45 | 84.85 | -350.0 | 0.05 | 0.0 | -16.67 | 103.70 | 1728.92 | 250.57 | 1383.59 | 7.96 | 136.45 | -54.17 | -158.92 | -108.82 | 154.17 | 2289.58 | 129.17 | 30.27 | -11.39 | 17.51 |
| 20Q3 (13) | -1.47 | -15.75 | -48.48 | -26.12 | 21.51 | -183.6 | -40.61 | 34.57 | -50.3 | -43.75 | 30.21 | -24.01 | -72.93 | -13.25 | -112.5 | -37.86 | -58.88 | -193.03 | -2.97 | -22.22 | -76.79 | 0.05 | 25.0 | -16.67 | 5.67 | 146.02 | 0 | 1281.57 | 48.13 | 125.33 | 91.94 | -8.06 | 18.68 | 6.45 | 454.84 | -73.06 | 34.16 | 0 | 32.45 |
| 20Q2 (12) | -1.27 | -28.28 | -388.46 | -33.28 | -91.04 | -50.72 | -62.07 | -51.98 | -45.7 | -62.69 | -23.36 | -31.43 | -64.40 | -28.52 | -35.66 | -23.83 | -56.26 | -81.63 | -2.43 | -38.07 | -26.56 | 0.04 | 0.0 | -20.0 | -12.32 | 0 | -160.47 | 865.19 | 28.62 | 72.91 | 100.00 | 25.0 | 12.5 | 1.16 | -94.19 | -89.53 | 0.00 | -100.0 | -100.0 |
| 20Q1 (11) | -0.99 | -1137.5 | -296.0 | -17.42 | -1126.76 | 10.34 | -40.84 | -99.71 | -1.19 | -50.82 | -1550.0 | -5.9 | -50.11 | -1888.49 | -5.72 | -15.25 | -1299.08 | -37.51 | -1.76 | -1077.78 | -1.15 | 0.04 | -33.33 | 0.0 | -0.00 | -100.0 | 100.0 | 672.69 | 14.96 | 44.49 | 80.00 | -86.98 | -5.23 | 20.00 | 103.78 | 28.33 | 39.20 | 52.17 | 16.95 |
| 19Q4 (10) | -0.08 | 91.92 | 80.49 | -1.42 | 84.58 | 97.78 | -20.45 | 24.32 | 77.97 | -3.08 | 91.27 | 95.71 | -2.52 | 92.66 | 96.79 | -1.09 | 91.56 | 93.27 | 0.18 | 110.71 | 106.02 | 0.06 | 0.0 | 50.0 | 29.58 | 0 | 570.27 | 585.16 | 2.88 | 44.1 | 614.29 | 692.99 | 373.17 | -528.57 | -2307.56 | -1725.97 | 25.76 | -0.12 | -53.28 |
| 19Q3 (9) | -0.99 | -280.77 | -219.35 | -9.21 | 58.29 | 32.63 | -27.02 | 36.57 | 23.06 | -35.28 | 26.04 | 25.19 | -34.32 | 27.7 | 26.38 | -12.92 | 1.52 | -20.07 | -1.68 | 12.5 | 20.38 | 0.06 | 20.0 | 20.0 | -0.00 | 100.0 | -100.0 | 568.76 | 13.67 | 56.87 | 77.46 | -12.85 | 3.65 | 23.94 | 115.49 | -5.22 | 25.79 | -16.46 | -19.08 |
| 19Q2 (8) | -0.26 | -4.0 | -36.84 | -22.08 | -13.64 | -1287.1 | -42.60 | -5.55 | -203.64 | -47.70 | 0.6 | -140.79 | -47.47 | -0.15 | -135.58 | -13.12 | -18.3 | -112.3 | -1.92 | -10.34 | -60.0 | 0.05 | 25.0 | -28.57 | -4.73 | -281.45 | -128.88 | 500.38 | 7.48 | 53.72 | 88.89 | 5.3 | 25.75 | 11.11 | -28.7 | -62.09 | 30.87 | -7.91 | 28.68 |
| 19Q1 (7) | -0.25 | 39.02 | -19.05 | -19.43 | 69.6 | -44.89 | -40.36 | 56.52 | -19.48 | -47.99 | 33.16 | -53.81 | -47.40 | 39.69 | -82.24 | -11.09 | 31.54 | -102.0 | -1.74 | 41.81 | -40.32 | 0.04 | 0.0 | -33.33 | -1.24 | 80.29 | -108.31 | 465.57 | 14.65 | 52.51 | 84.42 | -34.98 | -21.61 | 15.58 | 153.84 | 302.6 | 33.52 | -39.21 | 12.11 |
| 18Q4 (6) | -0.41 | -32.26 | -7.89 | -63.92 | -367.59 | -63.65 | -92.82 | -164.29 | -17.78 | -71.80 | -52.25 | -55.58 | -78.60 | -68.6 | -85.25 | -16.20 | -50.56 | -83.88 | -2.99 | -41.71 | -23.05 | 0.04 | -20.0 | -33.33 | -6.29 | -226.31 | -55.69 | 406.09 | 12.01 | 71.65 | 129.82 | 73.71 | -23.99 | -28.95 | -214.58 | 59.12 | 55.14 | 73.02 | 73.72 |
| 18Q3 (5) | -0.31 | -63.16 | 20.51 | -13.67 | -834.95 | 10.18 | -35.12 | -150.32 | -0.95 | -47.16 | -138.06 | -48.16 | -46.62 | -131.36 | -37.56 | -10.76 | -74.11 | -49.86 | -2.11 | -75.83 | -4.98 | 0.05 | -28.57 | -28.57 | 4.98 | -69.6 | -79.12 | 362.56 | 11.38 | 70.18 | 74.74 | 5.73 | -31.82 | 25.26 | -13.81 | 362.74 | 31.87 | 32.85 | 25.67 |
| 18Q2 (4) | -0.19 | 9.52 | 0.0 | 1.86 | 113.87 | 0.0 | -14.03 | 58.47 | 0.0 | -19.81 | 36.51 | 0.0 | -20.15 | 22.53 | 0.0 | -6.18 | -12.57 | 0.0 | -1.20 | 3.23 | 0.0 | 0.07 | 16.67 | 0.0 | 16.38 | 9.79 | 0.0 | 325.51 | 6.63 | 0.0 | 70.69 | -34.36 | 0.0 | 29.31 | 481.03 | 0.0 | 23.99 | -19.77 | 0.0 |
| 18Q1 (3) | -0.21 | 44.74 | 0.0 | -13.41 | 65.67 | 0.0 | -33.78 | 57.14 | 0.0 | -31.20 | 32.39 | 0.0 | -26.01 | 38.7 | 0.0 | -5.49 | 37.68 | 0.0 | -1.24 | 48.97 | 0.0 | 0.06 | 0.0 | 0.0 | 14.92 | 469.31 | 0.0 | 305.28 | 29.04 | 0.0 | 107.69 | -36.95 | 0.0 | -7.69 | 89.14 | 0.0 | 29.90 | -5.8 | 0.0 |
| 17Q4 (2) | -0.38 | 2.56 | 0.0 | -39.06 | -156.64 | 0.0 | -78.81 | -126.53 | 0.0 | -46.15 | -44.99 | 0.0 | -42.43 | -25.2 | 0.0 | -8.81 | -22.7 | 0.0 | -2.43 | -20.9 | 0.0 | 0.06 | -14.29 | 0.0 | -4.04 | -116.94 | 0.0 | 236.58 | 11.04 | 0.0 | 170.80 | 55.82 | 0.0 | -70.80 | -636.35 | 0.0 | 31.74 | 25.16 | 0.0 |
| 17Q3 (1) | -0.39 | 0.0 | 0.0 | -15.22 | 0.0 | 0.0 | -34.79 | 0.0 | 0.0 | -31.83 | 0.0 | 0.0 | -33.89 | 0.0 | 0.0 | -7.18 | 0.0 | 0.0 | -2.01 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | 23.85 | 0.0 | 0.0 | 213.05 | 0.0 | 0.0 | 109.62 | 0.0 | 0.0 | -9.62 | 0.0 | 0.0 | 25.36 | 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 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 (10) | -1.48 | 0 | -17.48 | 0 | -41.11 | 0 | 38.58 | -2.75 | -18.43 | 0 | -20.39 | 0 | -69.73 | 0 | -2.21 | 0 | 0.18 | 5.88 | 30.71 | 29.41 | 2709.57 | 95.84 | 222.34 | 36.39 | -122.34 | 0 | 0.07 | 9.41 | 33.95 | -3.55 |
| 2020 (9) | -4.07 | 0 | -20.82 | 0 | -43.20 | 0 | 39.67 | 31.19 | -26.54 | 0 | -51.66 | 0 | -82.92 | 0 | -7.61 | 0 | 0.17 | -19.05 | 23.73 | 239.48 | 1383.59 | 136.45 | 163.01 | 63.71 | -63.01 | 0 | 0.07 | 12.03 | 35.20 | 23.08 |
| 2019 (8) | -3.30 | 0 | -12.11 | 0 | -31.56 | 0 | 30.24 | -25.47 | -31.64 | 0 | -31.05 | 0 | -38.16 | 0 | -5.23 | 0 | 0.21 | -4.55 | 6.99 | -25.8 | 585.16 | 44.1 | 99.58 | 0.16 | 0.42 | 46.19 | 0.06 | 10.02 | 28.60 | -13.44 |
| 2018 (7) | -1.11 | 0 | -17.43 | 0 | -38.09 | 0 | 40.58 | -19.44 | -38.23 | 0 | -38.00 | 0 | -32.74 | 0 | -7.10 | 0 | 0.22 | -8.33 | 9.42 | 69.73 | 406.09 | 71.65 | 99.42 | -14.04 | 0.29 | 0 | 0.05 | 0 | 33.04 | 20.41 |
| 2017 (6) | -2.01 | 0 | -31.87 | 0 | -57.86 | 0 | 50.37 | -36.39 | -50.02 | 0 | -50.82 | 0 | -36.85 | 0 | -11.13 | 0 | 0.24 | 33.33 | 5.55 | 0 | 236.58 | 29.95 | 115.66 | 65.23 | -15.66 | 0 | 0.00 | 0 | 27.44 | -7.3 |
| 2016 (5) | -6.84 | 0 | -89.32 | 0 | -116.58 | 0 | 79.18 | 83.52 | -166.56 | 0 | -167.51 | 0 | -69.72 | 0 | -29.51 | 0 | 0.18 | -30.77 | -80.65 | 0 | 182.05 | 75.59 | 70.00 | -17.11 | 30.00 | 92.97 | 0.00 | 0 | 29.60 | 27.59 |
| 2015 (4) | -5.75 | 0 | -44.34 | 0 | -64.29 | 0 | 43.15 | 57.7 | -76.11 | 0 | -75.40 | 0 | -36.28 | 0 | -18.52 | 0 | 0.26 | -25.71 | -29.05 | 0 | 103.68 | 32.65 | 84.45 | 13.78 | 15.55 | -39.68 | 0.00 | 0 | 23.20 | 40.1 |
| 2014 (3) | 0.38 | 0 | 15.20 | 204.0 | 1.78 | 0 | 27.36 | -4.09 | 2.40 | 0 | 1.85 | 0 | 1.27 | 0 | 1.50 | 0 | 0.35 | 6.06 | 32.91 | 67.65 | 78.16 | -32.01 | 74.23 | -14.45 | 25.77 | 94.69 | 0.00 | 0 | 16.56 | -12.61 |
| 2013 (2) | -1.63 | 0 | 5.00 | 78.57 | -10.90 | 0 | 28.53 | 6.94 | -12.56 | 0 | -12.84 | 0 | -9.05 | 0 | -3.31 | 0 | 0.33 | 13.79 | 19.63 | 78.78 | 114.96 | 0.97 | 86.76 | 4.33 | 13.24 | -21.37 | 0.00 | 0 | 18.95 | 1.23 |
| 2012 (1) | -2.41 | 0 | 2.80 | 0 | -15.80 | 0 | 26.68 | 0 | -19.00 | 0 | -18.46 | 0 | -11.20 | 0 | -4.74 | 0 | 0.29 | 0 | 10.98 | 0 | 113.86 | 0 | 83.16 | 0 | 16.84 | 0 | 0.00 | 0 | 18.72 | 0 |
