- 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) | 0.06 | -64.71 | -79.31 | 28.46 | 34.56 | -31.39 | -4.23 | -241.13 | -128.07 | 2.15 | -77.08 | -88.63 | 4.24 | -62.74 | -74.16 | 0.24 | -65.71 | -81.25 | 0.24 | -59.32 | -77.14 | 0.05 | 0.0 | -16.67 | 21.33 | -16.71 | -37.3 | 20.54 | -15.44 | -14.38 | -150.00 | -1100.0 | -280.0 | 250.00 | 122.22 | 1025.0 | 57.90 | 15.13 | 80.94 |
| 24Q2 (19) | 0.17 | -91.15 | 142.86 | 21.15 | 288.79 | 65.62 | -1.24 | 96.91 | 91.08 | 9.38 | -96.36 | 793.33 | 11.38 | -95.22 | 131.77 | 0.70 | -91.4 | 112.12 | 0.59 | -91.29 | 103.45 | 0.05 | 66.67 | 0.0 | 25.61 | -91.2 | 40.02 | 24.29 | 4.34 | -17.99 | -12.50 | 20.83 | 98.86 | 112.50 | -2.84 | -90.62 | 50.29 | -42.21 | 25.1 |
| 24Q1 (18) | 1.92 | 346.51 | 1180.0 | 5.44 | -63.04 | -81.08 | -40.08 | -120.7 | -794.63 | 257.55 | 637.97 | 1668.89 | 237.94 | 691.29 | 2469.55 | 8.14 | 330.69 | 1192.06 | 6.77 | 320.5 | 1177.36 | 0.03 | -40.0 | -40.0 | 290.91 | 454.11 | 826.46 | 23.28 | 28.83 | -28.89 | -15.79 | 68.42 | -141.05 | 115.79 | -22.81 | 88.16 | 87.02 | 3.12 | 108.23 |
| 23Q4 (17) | 0.43 | 48.28 | -33.85 | 14.72 | -64.51 | -52.94 | -18.16 | -220.5 | -210.93 | 34.90 | 84.56 | 13.98 | 30.07 | 83.24 | 7.24 | 1.89 | 47.66 | -33.68 | 1.61 | 53.33 | -28.44 | 0.05 | -16.67 | -37.5 | 52.50 | 54.32 | 25.99 | 18.07 | -24.68 | -30.63 | -50.00 | -160.0 | -190.91 | 150.00 | 575.0 | 215.79 | 84.39 | 163.72 | 88.29 |
| 23Q3 (16) | 0.29 | 314.29 | -36.96 | 41.48 | 224.82 | 33.46 | 15.07 | 208.42 | 21.24 | 18.91 | 1700.95 | -19.22 | 16.41 | 234.22 | -22.85 | 1.28 | 287.88 | -36.95 | 1.05 | 262.07 | -31.82 | 0.06 | 20.0 | -14.29 | 34.02 | 86.0 | -9.04 | 23.99 | -19.01 | -27.24 | 83.33 | 107.58 | 61.11 | 22.22 | -98.15 | -50.43 | 32.00 | -20.4 | -1.48 |
| 23Q2 (15) | 0.07 | -53.33 | -69.57 | 12.77 | -55.6 | -63.86 | -13.90 | -340.9 | -173.51 | 1.05 | -92.79 | -92.71 | 4.91 | -46.98 | -53.37 | 0.33 | -47.62 | -67.96 | 0.29 | -45.28 | -62.82 | 0.05 | 0.0 | -28.57 | 18.29 | -41.75 | -35.21 | 29.62 | -9.53 | -16.96 | -1100.00 | -2960.0 | -960.87 | 1200.00 | 1850.0 | 3700.0 | 40.20 | -3.8 | 17.27 |
| 23Q1 (14) | 0.15 | -76.92 | -80.26 | 28.76 | -8.06 | -34.07 | 5.77 | -64.75 | -78.83 | 14.56 | -52.45 | -56.16 | 9.26 | -66.98 | -67.23 | 0.63 | -77.89 | -81.31 | 0.53 | -76.44 | -79.3 | 0.05 | -37.5 | -44.44 | 31.40 | -24.65 | -28.77 | 32.74 | 25.68 | -9.66 | 38.46 | -30.07 | -53.3 | 61.54 | 29.55 | 248.72 | 41.79 | -6.76 | 48.98 |
| 22Q4 (13) | 0.65 | 41.3 | -7.14 | 31.28 | 0.64 | -7.92 | 16.37 | 31.7 | -0.18 | 30.62 | 30.8 | 27.05 | 28.04 | 31.83 | 0.79 | 2.85 | 40.39 | -9.24 | 2.25 | 46.1 | -7.41 | 0.08 | 14.29 | -11.11 | 41.67 | 11.42 | 16.85 | 26.05 | -20.99 | -11.69 | 55.00 | 6.33 | -18.7 | 47.50 | 5.96 | 46.82 | 44.82 | 37.99 | 4.72 |
| 22Q3 (12) | 0.46 | 100.0 | -42.5 | 31.08 | -12.03 | -34.1 | 12.43 | -34.27 | -62.29 | 23.41 | 62.57 | -25.73 | 21.27 | 101.99 | -25.32 | 2.03 | 97.09 | -45.58 | 1.54 | 97.44 | -44.6 | 0.07 | 0.0 | -30.0 | 37.40 | 32.48 | -10.7 | 32.97 | -7.57 | -0.54 | 51.72 | -59.52 | -51.2 | 44.83 | 234.48 | 1220.69 | 32.48 | -5.25 | 17.09 |
| 22Q2 (11) | 0.23 | -69.74 | -53.06 | 35.33 | -19.01 | -1.53 | 18.91 | -30.63 | 3.0 | 14.40 | -56.64 | -38.41 | 10.53 | -62.74 | -50.31 | 1.03 | -69.44 | -55.41 | 0.78 | -69.53 | -54.65 | 0.07 | -22.22 | -12.5 | 28.23 | -35.96 | -20.72 | 35.67 | -1.57 | -8.02 | 127.78 | 55.16 | 65.05 | -33.33 | -288.89 | -247.62 | 34.28 | 22.21 | -4.54 |
| 22Q1 (10) | 0.76 | 8.57 | 280.0 | 43.62 | 28.41 | 37.08 | 27.26 | 66.22 | 151.71 | 33.21 | 37.8 | 117.2 | 28.26 | 1.58 | 125.9 | 3.37 | 7.32 | 258.51 | 2.56 | 5.35 | 245.95 | 0.09 | 0.0 | 50.0 | 44.08 | 23.61 | 33.7 | 36.24 | 22.85 | 6.93 | 82.35 | 21.74 | 15.29 | 17.65 | -45.45 | -38.24 | 28.05 | -34.46 | -30.43 |
| 21Q4 (9) | 0.70 | -12.5 | 42.86 | 33.97 | -27.97 | -1.28 | 16.40 | -50.24 | 0.68 | 24.10 | -23.54 | 12.83 | 27.82 | -2.32 | 52.35 | 3.14 | -15.82 | 33.05 | 2.43 | -12.59 | 35.75 | 0.09 | -10.0 | -10.0 | 35.66 | -14.85 | 11.33 | 29.50 | -11.01 | -11.33 | 67.65 | -36.18 | -10.71 | 32.35 | 908.82 | 33.46 | 42.80 | 54.29 | 18.86 |
| 21Q3 (8) | 0.80 | 63.27 | 166.67 | 47.16 | 31.44 | 59.59 | 32.96 | 79.52 | 235.64 | 31.52 | 34.82 | 121.04 | 28.48 | 34.4 | 92.43 | 3.73 | 61.47 | 153.74 | 2.78 | 61.63 | 148.21 | 0.10 | 25.0 | 42.86 | 41.88 | 17.61 | 51.79 | 33.15 | -14.52 | -6.7 | 106.00 | 36.92 | 63.82 | -4.00 | -117.71 | -113.6 | 27.74 | -22.75 | -23.39 |
| 21Q2 (7) | 0.49 | 145.0 | 32.43 | 35.88 | 12.76 | 44.56 | 18.36 | 69.53 | 412.85 | 23.38 | 52.91 | 101.2 | 21.19 | 69.38 | -1.85 | 2.31 | 145.74 | 28.33 | 1.72 | 132.43 | 23.74 | 0.08 | 33.33 | 33.33 | 35.61 | 8.01 | 27.91 | 38.78 | 14.43 | 10.64 | 77.42 | 8.39 | 183.87 | 22.58 | -20.97 | -68.95 | 35.91 | -10.94 | 0 |
| 21Q1 (6) | 0.20 | -59.18 | 225.0 | 31.82 | -7.53 | 144.21 | 10.83 | -33.52 | 199.82 | 15.29 | -28.42 | 187.42 | 12.51 | -31.49 | 214.77 | 0.94 | -60.17 | 218.99 | 0.74 | -58.66 | 229.82 | 0.06 | -40.0 | 0.0 | 32.97 | 2.93 | 2670.59 | 33.89 | 1.86 | 11.04 | 71.43 | -5.71 | 19.05 | 28.57 | 17.86 | -28.57 | 40.32 | 11.97 | 0.2 |
| 20Q4 (5) | 0.49 | 63.33 | 388.24 | 34.41 | 16.45 | 75.83 | 16.29 | 65.89 | 366.18 | 21.36 | 49.79 | 274.37 | 18.26 | 23.38 | 235.66 | 2.36 | 60.54 | 368.18 | 1.79 | 59.82 | 388.71 | 0.10 | 42.86 | 100.0 | 32.03 | 16.09 | 252.37 | 33.27 | -6.36 | 9.55 | 75.76 | 17.08 | 36.36 | 24.24 | -17.58 | -56.36 | 36.01 | -0.55 | -26.73 |
| 20Q3 (4) | 0.30 | -18.92 | 0.0 | 29.55 | 19.06 | 0.0 | 9.82 | 174.3 | 0.0 | 14.26 | 22.72 | 0.0 | 14.80 | -31.45 | 0.0 | 1.47 | -18.33 | 0.0 | 1.12 | -19.42 | 0.0 | 0.07 | 16.67 | 0.0 | 27.59 | -0.9 | 0.0 | 35.53 | 1.37 | 0.0 | 64.71 | 137.25 | 0.0 | 29.41 | -59.56 | 0.0 | 36.21 | 0 | 0.0 |
| 20Q2 (3) | 0.37 | 331.25 | 0.0 | 24.82 | 90.48 | 0.0 | 3.58 | 133.0 | 0.0 | 11.62 | 166.44 | 0.0 | 21.59 | 298.07 | 0.0 | 1.80 | 327.85 | 0.0 | 1.39 | 343.86 | 0.0 | 0.06 | 0.0 | 0.0 | 27.84 | 2239.5 | 0.0 | 35.05 | 14.84 | 0.0 | 27.27 | -54.55 | 0.0 | 72.73 | 81.82 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | -0.16 | 5.88 | 0.0 | 13.03 | -33.42 | 0.0 | -10.85 | -77.29 | 0.0 | -17.49 | -42.78 | 0.0 | -10.90 | 19.02 | 0.0 | -0.79 | 10.23 | 0.0 | -0.57 | 8.06 | 0.0 | 0.06 | 20.0 | 0.0 | 1.19 | -86.91 | 0.0 | 30.52 | 0.49 | 0.0 | 60.00 | 8.0 | 0.0 | 40.00 | -28.0 | 0.0 | 40.24 | -18.13 | 0.0 |
| 19Q4 (1) | -0.17 | 0.0 | 0.0 | 19.57 | 0.0 | 0.0 | -6.12 | 0.0 | 0.0 | -12.25 | 0.0 | 0.0 | -13.46 | 0.0 | 0.0 | -0.88 | 0.0 | 0.0 | -0.62 | 0.0 | 0.0 | 0.05 | 0.0 | 0.0 | 9.09 | 0.0 | 0.0 | 30.37 | 0.0 | 0.0 | 55.56 | 0.0 | 0.0 | 55.56 | 0.0 | 0.0 | 49.15 | 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) | 0.94 | -55.45 | 25.27 | -29.26 | -1.84 | 0 | 15.07 | 31.2 | 17.24 | -33.44 | 15.02 | -33.07 | 4.03 | -56.34 | 3.47 | -52.85 | 0.22 | -31.25 | 33.62 | -12.06 | 18.07 | -30.63 | -10.17 | 0 | 111.86 | 328.81 | 0.13 | 8.64 | 48.49 | 39.78 |
| 2022 (9) | 2.11 | -3.65 | 35.72 | -6.25 | 19.17 | -8.63 | 11.49 | -2.72 | 25.90 | 5.03 | 22.44 | -5.44 | 9.23 | -7.7 | 7.36 | -5.03 | 0.32 | 0.0 | 38.23 | 2.93 | 26.05 | -11.69 | 73.91 | -12.65 | 26.09 | 78.49 | 0.12 | 2.08 | 34.69 | -3.77 |
| 2021 (8) | 2.19 | 119.0 | 38.10 | 40.59 | 20.98 | 208.08 | 11.81 | -12.88 | 24.66 | 142.72 | 23.73 | 87.89 | 10.00 | 109.21 | 7.75 | 106.67 | 0.32 | 10.34 | 37.14 | 51.96 | 29.50 | -11.33 | 84.62 | 25.56 | 14.62 | -55.18 | 0.12 | -3.89 | 36.05 | -4.4 |
| 2020 (7) | 1.00 | 0 | 27.10 | 21.91 | 6.81 | 0 | 13.56 | -22.87 | 10.16 | 0 | 12.63 | 0 | 4.78 | 0 | 3.75 | 0 | 0.29 | 38.1 | 24.44 | 87.57 | 33.27 | 9.55 | 67.39 | -17.63 | 32.61 | 79.35 | 0.12 | -4.55 | 37.71 | -25.78 |
| 2019 (6) | -0.42 | 0 | 22.23 | -26.02 | -5.54 | 0 | 17.58 | 31.96 | -6.70 | 0 | -7.72 | 0 | -2.08 | 0 | -1.53 | 0 | 0.21 | -25.0 | 13.03 | 105.52 | 30.37 | 36.62 | 81.82 | 28.57 | 18.18 | -50.0 | 0.13 | -83.09 | 50.81 | 26.71 |
| 2018 (5) | -0.70 | 0 | 30.05 | -14.46 | -5.91 | 0 | 13.32 | 32.24 | -9.23 | 0 | -9.89 | 0 | -3.55 | 0 | -2.52 | 0 | 0.28 | 21.74 | 6.34 | 76.11 | 22.23 | -30.92 | 63.64 | -49.9 | 36.36 | 0 | 0.77 | 0 | 40.10 | -16.68 |
| 2017 (4) | -0.50 | 0 | 35.13 | 46.68 | -11.34 | 0 | 10.07 | 144.16 | -8.92 | 0 | -9.26 | 0 | -2.78 | 0 | -1.91 | 0 | 0.23 | -32.35 | 3.60 | -73.65 | 32.18 | 16.38 | 127.03 | 0 | -27.03 | 0 | 0.00 | 0 | 48.13 | 69.41 |
| 2016 (3) | 0.41 | -93.63 | 23.95 | -20.8 | -7.20 | 0 | 4.13 | 213.65 | 8.61 | -64.87 | 3.19 | -80.98 | 1.45 | -94.05 | 1.15 | -93.26 | 0.34 | -66.34 | 13.66 | -47.3 | 27.65 | -29.93 | -83.61 | 0 | 181.97 | 5743.17 | 0.00 | 0 | 28.41 | 169.03 |
| 2015 (2) | 6.44 | -29.62 | 30.24 | -19.79 | 23.76 | -15.8 | 1.32 | -10.97 | 24.51 | -14.93 | 16.77 | -22.72 | 24.36 | -27.8 | 17.05 | -22.92 | 1.01 | 0.0 | 25.92 | -15.21 | 39.46 | -16.27 | 96.89 | -1.02 | 3.11 | 60.24 | 0.00 | 0 | 10.56 | -10.96 |
| 2014 (1) | 9.15 | 539.86 | 37.70 | 0 | 28.22 | 0 | 1.48 | -82.13 | 28.81 | 0 | 21.70 | 0 | 33.74 | 0 | 22.12 | 0 | 1.01 | 225.81 | 30.57 | 2.0 | 47.13 | -26.59 | 97.88 | 157.75 | 1.94 | -96.8 | 0.00 | 0 | 11.86 | -70.53 |
