- 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) | -0.61 | -41.86 | 0.0 | -37.83 | -699.52 | -224.44 | -101.49 | -209.99 | -46.66 | -119.50 | -161.43 | -59.91 | -119.50 | -161.49 | -60.45 | -7.91 | -44.34 | -28.62 | -1.82 | -44.44 | 1.62 | 0.02 | -50.0 | -33.33 | -46.88 | -384.3 | -43.41 | 268.20 | 8.46 | 42.57 | 84.21 | 17.89 | -8.77 | 15.79 | -44.74 | 105.26 | 54.28 | 77.79 | 32.26 |
| 24Q2 (19) | -0.43 | 12.24 | -16.22 | 6.31 | 360.74 | 126.98 | -32.74 | 8.11 | 33.06 | -45.71 | -10.09 | -14.71 | -45.70 | -10.07 | -10.28 | -5.48 | 6.64 | -11.16 | -1.26 | 15.44 | -13.51 | 0.04 | 0.0 | 0.0 | -9.68 | 32.26 | -356.76 | 247.29 | 5.82 | 44.06 | 71.43 | -18.37 | -42.31 | 28.57 | 82.86 | 220.0 | 30.53 | 17.24 | -22.9 |
| 24Q1 (18) | -0.49 | 50.51 | 34.67 | -2.42 | 94.77 | 93.63 | -35.63 | 73.02 | 70.36 | -41.52 | 73.18 | 66.75 | -41.52 | 73.12 | 66.79 | -5.87 | 44.25 | 64.91 | -1.49 | 53.44 | 53.87 | 0.04 | 100.0 | 33.33 | -14.29 | 86.39 | 77.97 | 233.70 | 9.33 | -42.59 | 87.50 | 2.36 | -8.52 | 15.62 | 7.64 | 259.38 | 26.04 | -50.77 | -55.17 |
| 23Q4 (17) | -0.99 | -62.3 | -50.0 | -46.27 | -296.83 | -55.84 | -132.06 | -90.84 | -14.04 | -154.79 | -107.13 | -24.43 | -154.47 | -107.4 | -24.17 | -10.53 | -71.22 | 16.43 | -3.20 | -72.97 | -15.52 | 0.02 | -33.33 | -33.33 | -105.00 | -221.2 | -86.67 | 213.75 | 13.62 | -35.47 | 85.48 | -7.39 | -7.59 | 14.52 | 88.71 | 93.55 | 52.89 | 28.87 | 9.14 |
| 23Q3 (16) | -0.61 | -64.86 | -110.34 | -11.66 | -519.42 | -93.37 | -69.20 | -41.48 | 22.62 | -74.73 | -87.53 | -54.69 | -74.48 | -79.73 | -54.17 | -6.15 | -24.75 | -16.7 | -1.85 | -66.67 | -68.18 | 0.03 | -25.0 | 0.0 | -32.69 | -967.11 | -525.1 | 188.12 | 9.59 | -32.05 | 92.31 | -25.44 | -49.89 | 7.69 | 132.31 | 109.13 | 41.04 | 3.64 | -20.12 |
| 23Q2 (15) | -0.37 | 50.67 | 39.34 | 2.78 | 107.32 | 110.39 | -48.91 | 59.31 | 61.24 | -39.85 | 68.09 | 69.06 | -41.44 | 66.85 | 67.82 | -4.93 | 70.53 | 49.64 | -1.11 | 65.63 | 58.74 | 0.04 | 33.33 | 100.0 | 3.77 | 105.81 | 105.65 | 171.66 | -57.83 | -33.81 | 123.81 | 29.44 | 23.81 | -23.81 | -647.62 | -1004.76 | 39.60 | -31.82 | -39.84 |
| 23Q1 (14) | -0.75 | -13.64 | -66.67 | -38.00 | -27.99 | -666.13 | -120.20 | -3.8 | -106.49 | -124.87 | -0.38 | -122.27 | -125.01 | -0.49 | -122.52 | -16.73 | -32.78 | -149.7 | -3.23 | -16.61 | -65.64 | 0.03 | 0.0 | -25.0 | -64.86 | -15.31 | -230.75 | 407.08 | 22.89 | 102.02 | 95.65 | 3.41 | -7.65 | 4.35 | -42.03 | 221.74 | 58.08 | 19.85 | 49.69 |
| 22Q4 (13) | -0.66 | -127.59 | -57.14 | -29.69 | -392.37 | -285.08 | -115.80 | -29.49 | -192.5 | -124.40 | -157.5 | -264.38 | -124.40 | -157.5 | -264.38 | -12.60 | -139.09 | -120.28 | -2.77 | -151.82 | -61.05 | 0.03 | 0.0 | -50.0 | -56.25 | -831.47 | -434.19 | 331.26 | 19.65 | 60.53 | 92.50 | -49.79 | -19.83 | 7.50 | 108.91 | 148.75 | 48.46 | -5.68 | 53.35 |
| 22Q3 (12) | -0.29 | 52.46 | 38.3 | -6.03 | 77.47 | -563.85 | -89.43 | 29.13 | -260.31 | -48.31 | 62.49 | -37.56 | -48.31 | 62.49 | -37.56 | -5.27 | 46.17 | 15.41 | -1.10 | 59.11 | 45.27 | 0.03 | 50.0 | -50.0 | 7.69 | 111.53 | 171.8 | 276.85 | 6.76 | 54.33 | 184.21 | 84.21 | 154.39 | -84.21 | -3300.0 | -371.35 | 51.38 | -21.94 | 131.13 |
| 22Q2 (11) | -0.61 | -35.56 | -74.29 | -26.76 | -439.52 | -488.13 | -126.18 | -116.77 | -161.03 | -128.79 | -129.25 | -152.93 | -128.79 | -129.25 | -152.93 | -9.79 | -46.12 | -36.73 | -2.69 | -37.95 | -6.75 | 0.02 | -50.0 | -60.0 | -66.67 | -239.98 | -233.35 | 259.33 | 28.7 | 53.35 | 100.00 | -3.45 | 5.88 | 2.63 | 173.68 | -52.63 | 65.82 | 69.64 | 150.46 |
| 22Q1 (10) | -0.45 | -7.14 | -55.17 | -4.96 | 35.67 | -428.48 | -58.21 | -47.03 | -13.4 | -56.18 | -64.56 | -26.05 | -56.18 | -64.56 | -26.05 | -6.70 | -17.13 | -17.13 | -1.95 | -13.37 | 5.34 | 0.04 | -33.33 | -20.0 | -19.61 | -86.23 | -43.77 | 201.50 | -2.36 | 34.85 | 103.57 | -10.24 | -8.61 | -3.57 | 76.79 | 73.21 | 38.80 | 22.78 | 33.43 |
| 21Q4 (9) | -0.42 | 10.64 | -7.69 | -7.71 | -693.08 | -235.22 | -39.59 | -59.51 | 49.76 | -34.14 | 2.79 | 56.05 | -34.14 | 2.79 | 56.05 | -5.72 | 8.19 | 18.75 | -1.72 | 14.43 | 34.1 | 0.06 | 0.0 | 50.0 | -10.53 | 1.68 | 65.4 | 206.36 | 15.03 | 37.05 | 115.38 | 59.34 | 12.18 | -15.38 | -149.57 | -438.46 | 31.60 | 42.15 | -39.79 |
| 21Q3 (8) | -0.47 | -34.29 | -193.75 | 1.30 | 128.57 | -93.62 | -24.82 | 48.66 | -94.82 | -35.12 | 31.03 | -89.12 | -35.12 | 31.03 | -89.12 | -6.23 | 12.99 | -106.29 | -2.01 | 20.24 | -87.85 | 0.06 | 20.0 | -14.29 | -10.71 | 46.45 | -223.96 | 179.39 | 6.08 | 25.8 | 72.41 | -23.33 | 8.62 | 31.03 | 458.62 | -6.9 | 22.23 | -15.41 | -15.92 |
| 21Q2 (7) | -0.35 | -20.69 | -775.0 | -4.55 | -401.32 | -118.54 | -48.34 | 5.83 | -817.27 | -50.92 | -14.25 | -954.24 | -50.92 | -14.25 | -954.24 | -7.16 | -25.17 | -686.81 | -2.52 | -22.33 | -6400.0 | 0.05 | 0.0 | -44.44 | -20.00 | -46.63 | -190.01 | 169.11 | 13.17 | 49.56 | 94.44 | -16.67 | -24.44 | 5.56 | 141.67 | 0 | 26.28 | -9.63 | 0 |
| 21Q1 (6) | -0.29 | 25.64 | 23.68 | 1.51 | 165.65 | 110.66 | -51.33 | 34.86 | 35.56 | -44.57 | 42.62 | 46.09 | -44.57 | 42.62 | 46.09 | -5.72 | 18.75 | 21.86 | -2.06 | 21.07 | 26.16 | 0.05 | 25.0 | 25.0 | -13.64 | 55.18 | 40.9 | 149.43 | -0.76 | 16.54 | 113.33 | 10.19 | 16.99 | -13.33 | -366.67 | -526.67 | 29.08 | -44.59 | -30.5 |
| 20Q4 (5) | -0.39 | -143.75 | -8.33 | -2.30 | -111.28 | -110.94 | -78.80 | -518.52 | -63.69 | -77.68 | -318.31 | -14.49 | -77.68 | -318.31 | -11.07 | -7.04 | -133.11 | -7.15 | -2.61 | -143.93 | -15.49 | 0.04 | -42.86 | 0.0 | -30.43 | -452.2 | -1257.03 | 150.57 | 5.59 | 13.04 | 102.86 | 54.29 | 48.57 | -2.86 | -108.57 | -109.29 | 52.48 | 98.49 | 0 |
| 20Q3 (4) | -0.16 | -300.0 | 0.0 | 20.39 | -16.91 | 0.0 | -12.74 | -141.75 | 0.0 | -18.57 | -284.47 | 0.0 | -18.57 | -284.47 | 0.0 | -3.02 | -231.87 | 0.0 | -1.07 | -2775.0 | 0.0 | 0.07 | -22.22 | 0.0 | 8.64 | -61.12 | 0.0 | 142.60 | 26.12 | 0.0 | 66.67 | -46.67 | 0.0 | 33.33 | 0 | 0.0 | 26.44 | 0 | 0.0 |
| 20Q2 (3) | -0.04 | 89.47 | 0.0 | 24.54 | 273.31 | 0.0 | -5.27 | 93.38 | 0.0 | -4.83 | 94.16 | 0.0 | -4.83 | 94.16 | 0.0 | -0.91 | 87.57 | 0.0 | 0.04 | 101.43 | 0.0 | 0.09 | 125.0 | 0.0 | 22.22 | 196.27 | 0.0 | 113.07 | -11.82 | 0.0 | 125.00 | 29.03 | 0.0 | -0.00 | -100.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | -0.38 | -5.56 | 0.0 | -14.16 | -167.36 | 0.0 | -79.65 | -65.45 | 0.0 | -82.67 | -21.84 | 0.0 | -82.67 | -18.2 | 0.0 | -7.32 | -11.42 | 0.0 | -2.79 | -23.45 | 0.0 | 0.04 | 0.0 | 0.0 | -23.08 | -977.57 | 0.0 | 128.22 | -3.74 | 0.0 | 96.88 | 39.93 | 0.0 | 3.12 | -89.84 | 0.0 | 41.84 | 0 | 0.0 |
| 19Q4 (1) | -0.36 | 0.0 | 0.0 | 21.02 | 0.0 | 0.0 | -48.14 | 0.0 | 0.0 | -67.85 | 0.0 | 0.0 | -69.94 | 0.0 | 0.0 | -6.57 | 0.0 | 0.0 | -2.26 | 0.0 | 0.0 | 0.04 | 0.0 | 0.0 | 2.63 | 0.0 | 0.0 | 133.20 | 0.0 | 0.0 | 69.23 | 0.0 | 0.0 | 30.77 | 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) | -2.70 | 0 | -20.47 | 0 | -87.58 | 0 | 33.52 | -15.65 | -92.50 | 0 | -92.85 | 0 | -39.14 | 0 | -9.65 | 0 | 0.12 | 9.09 | -44.51 | 0 | 213.75 | -35.47 | 94.64 | -14.21 | 5.36 | 0 | 0.00 | 0 | 46.71 | -5.41 |
| 2022 (9) | -2.01 | 0 | -14.79 | 0 | -91.82 | 0 | 39.74 | 80.95 | -82.97 | 0 | -82.97 | 0 | -34.02 | 0 | -8.33 | 0 | 0.11 | -50.0 | -30.46 | 0 | 331.26 | 60.53 | 110.32 | 11.24 | -10.32 | 0 | 0.00 | 0 | 49.38 | 82.08 |
| 2021 (8) | -1.95 | 0 | -2.34 | 0 | -40.11 | 0 | 21.96 | -20.82 | -40.73 | 0 | -40.73 | 0 | -25.20 | 0 | -8.17 | 0 | 0.22 | 0.0 | -13.51 | 0 | 206.36 | 37.05 | 99.17 | 5.21 | 1.67 | -71.0 | 0.00 | 0 | 27.12 | -14.31 |
| 2020 (7) | -0.95 | 0 | 12.57 | 0 | -32.02 | 0 | 27.73 | -62.5 | -33.97 | 0 | -33.97 | 0 | -18.44 | 0 | -6.31 | 0 | 0.22 | 144.44 | 1.17 | 0 | 150.57 | 13.04 | 94.25 | 0.81 | 5.75 | -11.64 | 0.00 | 0 | 31.65 | -51.38 |
| 2019 (6) | -1.72 | 0 | -13.05 | 0 | -119.78 | 0 | 73.96 | -57.47 | -128.14 | 0 | -128.98 | 0 | -29.78 | 0 | -10.27 | 0 | 0.09 | 125.0 | -31.25 | 0 | 133.20 | -19.54 | 93.50 | -4.43 | 6.50 | 199.19 | 0.00 | 0 | 65.10 | -49.17 |
| 2018 (5) | -3.47 | 0 | -152.93 | 0 | -388.12 | 0 | 173.91 | 273.46 | -397.42 | 0 | -397.42 | 0 | -44.22 | 0 | -14.96 | 0 | 0.04 | -69.23 | -176.09 | 0 | 165.54 | 0.11 | 97.83 | 0 | 2.17 | -98.79 | 0.00 | 0 | 128.07 | 170.13 |
| 2017 (4) | 1.40 | 0 | -24.95 | 0 | -84.34 | 0 | 46.57 | 57.89 | 104.76 | 0 | 66.13 | 0 | 58.63 | 0 | 14.96 | 0 | 0.13 | -40.91 | 161.76 | 0 | 165.36 | -69.73 | -80.37 | 0 | 180.37 | 524.37 | 0.00 | 0 | 47.41 | 97.13 |
| 2016 (3) | -4.93 | 0 | -23.72 | 0 | -51.60 | 0 | 29.49 | 65.61 | -72.64 | 0 | -95.75 | 0 | -66.82 | 0 | -15.23 | 0 | 0.22 | -31.25 | -37.17 | 0 | 546.28 | 151.14 | 70.83 | -23.03 | 28.89 | 274.59 | 0.00 | 0 | 24.05 | 53.38 |
| 2015 (2) | -4.03 | 0 | -11.47 | 0 | -39.62 | 0 | 17.81 | 26.2 | -42.99 | 0 | -42.83 | 0 | -39.71 | 0 | -12.38 | 0 | 0.32 | -23.81 | -20.13 | 0 | 217.52 | 27.15 | 92.03 | 29.01 | 7.71 | -73.09 | 0.00 | 0 | 15.68 | -4.33 |
| 2014 (1) | -6.61 | 0 | -8.69 | 0 | -30.58 | 0 | 14.11 | -17.44 | -42.88 | 0 | -42.89 | 0 | -42.50 | 0 | -16.75 | 0 | 0.42 | 13.51 | -25.32 | 0 | 171.08 | 47.94 | 71.34 | -19.25 | 28.66 | 140.37 | 0.00 | 0 | 16.39 | -15.47 |
