- 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) | -0.88 | -337.84 | -157.14 | -2.63 | -115.98 | -112.49 | -13.58 | -2090.32 | -251.06 | -16.93 | -305.46 | -195.49 | -14.18 | -344.06 | -199.09 | -2.90 | -350.0 | -158.0 | -2.18 | -350.57 | -163.01 | 0.16 | 14.29 | -33.33 | -10.91 | -173.27 | -150.58 | 27.82 | -22.72 | -38.0 | 80.00 | 1340.0 | 58.62 | 20.00 | -81.21 | -59.65 | 26.12 | -19.36 | 14.76 |
| 24Q2 (19) | 0.37 | -61.05 | -45.59 | 16.46 | -10.64 | -1.5 | -0.62 | -124.6 | -124.8 | 8.24 | -53.13 | -25.16 | 5.81 | -57.44 | -29.23 | 1.16 | -61.59 | -48.21 | 0.87 | -60.45 | -43.87 | 0.14 | -12.5 | -22.22 | 14.89 | -35.85 | -9.37 | 36.00 | -6.3 | -23.01 | -6.45 | -142.82 | -129.03 | 106.45 | 23.35 | 40.2 | 32.39 | 11.0 | 17.95 |
| 24Q1 (18) | 0.95 | 400.0 | 4650.0 | 18.42 | -12.78 | 28.27 | 2.52 | -77.46 | 350.0 | 17.58 | 539.27 | 1853.33 | 13.65 | 411.24 | 27400.0 | 3.02 | 344.12 | 30300.0 | 2.20 | 323.08 | 5400.0 | 0.16 | -11.11 | -5.88 | 23.21 | 199.1 | 242.33 | 38.42 | -0.47 | -21.85 | 15.07 | -96.44 | -79.91 | 86.30 | 127.36 | 72.6 | 29.18 | 29.12 | 0.52 |
| 23Q4 (17) | 0.19 | -87.66 | 216.67 | 21.12 | 0.28 | 24.16 | 11.18 | 24.36 | 39.05 | 2.75 | -84.49 | 32.85 | 2.67 | -81.34 | 175.26 | 0.68 | -86.4 | 161.54 | 0.52 | -84.97 | 116.67 | 0.18 | -25.0 | 0.0 | 7.76 | -64.02 | 2.92 | 38.60 | -13.97 | -16.88 | 423.08 | 738.86 | 3.19 | -315.38 | -736.3 | -5.13 | 22.60 | -0.7 | -12.2 |
| 23Q3 (16) | 1.54 | 126.47 | 23.2 | 21.06 | 26.03 | 26.87 | 8.99 | 259.6 | 169.16 | 17.73 | 61.04 | 6.49 | 14.31 | 74.3 | 10.42 | 5.00 | 123.21 | 21.65 | 3.46 | 123.23 | 30.57 | 0.24 | 33.33 | 20.0 | 21.57 | 31.28 | 1.17 | 44.87 | -4.04 | -18.88 | 50.43 | 126.96 | 147.13 | 49.57 | -34.72 | -38.51 | 22.76 | -17.12 | -17.06 |
| 23Q2 (15) | 0.68 | 3300.0 | -36.45 | 16.71 | 16.36 | -9.28 | 2.50 | 346.43 | -58.61 | 11.01 | 1123.33 | -17.59 | 8.21 | 16520.0 | -21.66 | 2.24 | 22500.0 | -37.95 | 1.55 | 3775.0 | -31.72 | 0.18 | 5.88 | -14.29 | 16.43 | 142.33 | -7.28 | 46.76 | -4.88 | -24.6 | 22.22 | -70.37 | -50.75 | 75.93 | 51.85 | 38.35 | 27.46 | -5.41 | -7.91 |
| 23Q1 (14) | 0.02 | -66.67 | -96.92 | 14.36 | -15.58 | -4.71 | 0.56 | -93.03 | -64.56 | 0.90 | -56.52 | -90.54 | -0.05 | -105.15 | -100.69 | -0.01 | -103.85 | -100.46 | 0.04 | -83.33 | -97.14 | 0.17 | -5.56 | -10.53 | 6.78 | -10.08 | -52.55 | 49.16 | 5.86 | -19.97 | 75.00 | -81.71 | 378.12 | 50.00 | 116.67 | -39.29 | 29.03 | 12.78 | -9.42 |
| 22Q4 (13) | 0.06 | -95.2 | -92.41 | 17.01 | 2.47 | -5.5 | 8.04 | 140.72 | 31.59 | 2.07 | -87.57 | -74.79 | 0.97 | -92.52 | -88.02 | 0.26 | -93.67 | -90.23 | 0.24 | -90.94 | -86.05 | 0.18 | -10.0 | -14.29 | 7.54 | -64.63 | -40.21 | 46.44 | -16.04 | -21.21 | 410.00 | 1909.0 | 450.57 | -300.00 | -472.15 | -1275.0 | 25.74 | -6.2 | -14.23 |
| 22Q3 (12) | 1.25 | 16.82 | 190.7 | 16.60 | -9.88 | -4.65 | 3.34 | -44.7 | -31.56 | 16.65 | 24.63 | 165.55 | 12.96 | 23.66 | 166.12 | 4.11 | 13.85 | 174.0 | 2.65 | 16.74 | 162.38 | 0.20 | -4.76 | 0.0 | 21.32 | 20.32 | 94.88 | 55.31 | -10.82 | -1.18 | 20.41 | -54.77 | -74.1 | 80.61 | 46.89 | 280.03 | 27.44 | -7.98 | -5.25 |
| 22Q2 (11) | 1.07 | 64.62 | 2040.0 | 18.42 | 22.23 | 11.43 | 6.04 | 282.28 | 44.84 | 13.36 | 40.48 | 12045.45 | 10.48 | 44.55 | 6064.71 | 3.61 | 64.84 | 7120.0 | 2.27 | 62.14 | 3683.33 | 0.21 | 10.53 | 5.0 | 17.72 | 24.0 | 260.9 | 62.02 | 0.96 | 23.42 | 45.12 | 187.65 | -97.85 | 54.88 | -33.36 | 102.61 | 29.82 | -6.96 | 3.25 |
| 22Q1 (10) | 0.65 | -17.72 | 490.91 | 15.07 | -16.28 | 1.48 | 1.58 | -74.14 | 75.56 | 9.51 | 15.83 | 452.91 | 7.25 | -10.49 | 647.42 | 2.19 | -17.67 | 776.0 | 1.40 | -18.6 | 636.84 | 0.19 | -9.52 | 11.76 | 14.29 | 13.32 | 102.41 | 61.43 | 4.22 | 29.03 | 15.69 | -78.94 | -68.63 | 82.35 | 222.55 | 64.71 | 32.05 | 6.8 | 2.89 |
| 21Q4 (9) | 0.79 | 83.72 | 75.56 | 18.00 | 3.39 | -14.24 | 6.11 | 25.2 | -26.83 | 8.21 | 30.94 | -0.73 | 8.10 | 66.32 | 58.2 | 2.66 | 77.33 | 83.45 | 1.72 | 70.3 | 70.3 | 0.21 | 5.0 | 10.53 | 12.61 | 15.27 | -4.97 | 58.94 | 5.31 | 17.32 | 74.47 | -5.48 | -25.53 | 25.53 | 20.36 | 0 | 30.01 | 3.63 | 4.46 |
| 21Q3 (8) | 0.43 | 760.0 | 230.77 | 17.41 | 5.32 | -10.76 | 4.88 | 17.03 | -6.51 | 6.27 | 5600.0 | 108.31 | 4.87 | 2764.71 | 260.74 | 1.50 | 2900.0 | 328.57 | 1.01 | 1583.33 | 288.46 | 0.20 | 0.0 | 11.11 | 10.94 | 122.81 | 34.9 | 55.97 | 11.38 | 26.49 | 78.79 | -96.25 | -55.47 | 21.21 | 101.01 | 127.58 | 28.96 | 0.28 | -1.23 |
| 21Q2 (7) | 0.05 | -54.55 | -78.26 | 16.53 | 11.31 | -19.64 | 4.17 | 363.33 | -3.47 | 0.11 | -93.6 | -96.97 | 0.17 | -82.47 | -94.24 | 0.05 | -80.0 | -92.42 | 0.06 | -68.42 | -88.0 | 0.20 | 17.65 | 25.0 | 4.91 | -30.45 | -45.75 | 50.25 | 5.55 | 13.48 | 2100.00 | 4100.0 | 1629.41 | -2100.00 | -4300.0 | -9700.0 | 28.88 | -7.29 | 0 |
| 21Q1 (6) | 0.11 | -75.56 | 266.67 | 14.85 | -29.25 | -4.99 | 0.90 | -89.22 | 220.0 | 1.72 | -79.2 | 40.98 | 0.97 | -81.05 | 540.91 | 0.25 | -82.76 | 725.0 | 0.19 | -81.19 | 1050.0 | 0.17 | -10.53 | 13.33 | 7.06 | -46.8 | 22.78 | 47.61 | -5.23 | 38.85 | 50.00 | -50.0 | 166.67 | 50.00 | 0 | -71.43 | 31.15 | 8.42 | -0.61 |
| 20Q4 (5) | 0.45 | 246.15 | -45.12 | 20.99 | 7.59 | -10.83 | 8.35 | 59.96 | 4.51 | 8.27 | 174.75 | -32.38 | 5.12 | 279.26 | -46.94 | 1.45 | 314.29 | -43.58 | 1.01 | 288.46 | -47.4 | 0.19 | 5.56 | -5.0 | 13.27 | 63.63 | -14.77 | 50.24 | 13.54 | 32.11 | 100.00 | -43.48 | 53.85 | 0.00 | 100.0 | -100.0 | 28.73 | -2.01 | -1.91 |
| 20Q3 (4) | 0.13 | -43.48 | 0.0 | 19.51 | -5.15 | 0.0 | 5.22 | 20.83 | 0.0 | 3.01 | -17.08 | 0.0 | 1.35 | -54.24 | 0.0 | 0.35 | -46.97 | 0.0 | 0.26 | -48.0 | 0.0 | 0.18 | 12.5 | 0.0 | 8.11 | -10.39 | 0.0 | 44.25 | -0.07 | 0.0 | 176.92 | 45.7 | 0.0 | -76.92 | -258.97 | 0.0 | 29.32 | 0 | 0.0 |
| 20Q2 (3) | 0.23 | 666.67 | 0.0 | 20.57 | 31.61 | 0.0 | 4.32 | 676.0 | 0.0 | 3.63 | 197.54 | 0.0 | 2.95 | 1440.91 | 0.0 | 0.66 | 1750.0 | 0.0 | 0.50 | 2600.0 | 0.0 | 0.16 | 6.67 | 0.0 | 9.05 | 57.39 | 0.0 | 44.28 | 29.13 | 0.0 | 121.43 | 261.9 | 0.0 | -21.43 | -112.24 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.03 | -96.34 | 0.0 | 15.63 | -33.6 | 0.0 | -0.75 | -109.39 | 0.0 | 1.22 | -90.02 | 0.0 | -0.22 | -102.28 | 0.0 | -0.04 | -101.56 | 0.0 | -0.02 | -101.04 | 0.0 | 0.15 | -25.0 | 0.0 | 5.75 | -63.07 | 0.0 | 34.29 | -9.83 | 0.0 | -75.00 | -215.38 | 0.0 | 175.00 | 400.0 | 0.0 | 31.34 | 7.0 | 0.0 |
| 19Q4 (1) | 0.82 | 0.0 | 0.0 | 23.54 | 0.0 | 0.0 | 7.99 | 0.0 | 0.0 | 12.23 | 0.0 | 0.0 | 9.65 | 0.0 | 0.0 | 2.57 | 0.0 | 0.0 | 1.92 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 15.57 | 0.0 | 0.0 | 38.03 | 0.0 | 0.0 | 65.00 | 0.0 | 0.0 | 35.00 | 0.0 | 0.0 | 29.29 | 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) | 2.43 | -19.54 | 18.59 | 10.46 | 6.14 | 30.08 | 4.65 | 4.31 | 8.94 | -17.07 | 6.99 | -15.07 | 7.67 | -23.91 | 5.53 | -18.8 | 0.77 | -3.75 | 13.87 | -10.92 | 38.60 | -16.88 | 68.82 | 56.46 | 31.18 | -44.74 | 0.08 | 110.77 | 25.20 | -12.5 |
| 2022 (9) | 3.02 | 118.84 | 16.83 | 0.18 | 4.72 | 13.19 | 4.46 | -3.1 | 10.78 | 151.28 | 8.23 | 119.47 | 10.08 | 129.09 | 6.81 | 130.07 | 0.80 | 5.26 | 15.57 | 71.85 | 46.44 | -21.21 | 43.98 | -54.99 | 56.43 | 2382.99 | 0.04 | 0.61 | 28.80 | -3.06 |
| 2021 (8) | 1.38 | 64.29 | 16.80 | -13.18 | 4.17 | -9.94 | 4.60 | -4.64 | 4.29 | 0.0 | 3.75 | 51.21 | 4.40 | 88.03 | 2.96 | 74.12 | 0.76 | 15.15 | 9.06 | -2.69 | 58.94 | 17.32 | 97.73 | -9.7 | 2.27 | 0 | 0.04 | -52.95 | 29.71 | -1.91 |
| 2020 (7) | 0.84 | -63.32 | 19.35 | -8.94 | 4.63 | -22.7 | 4.83 | 29.37 | 4.29 | -50.29 | 2.48 | -63.9 | 2.34 | -67.23 | 1.70 | -68.16 | 0.66 | -14.29 | 9.31 | -25.58 | 50.24 | 32.11 | 108.22 | 55.68 | -8.22 | 0 | 0.08 | -3.5 | 30.29 | 5.21 |
| 2019 (6) | 2.29 | 65.94 | 21.25 | 4.83 | 5.99 | 45.04 | 3.73 | -11.8 | 8.63 | 45.04 | 6.87 | 64.75 | 7.14 | 70.41 | 5.34 | 68.99 | 0.77 | 4.05 | 12.51 | 21.34 | 38.03 | 16.26 | 69.51 | 0.61 | 30.49 | -1.36 | 0.08 | 90.31 | 28.79 | 5.42 |
| 2018 (5) | 1.38 | -50.0 | 20.27 | -17.3 | 4.13 | -54.57 | 4.23 | 14.62 | 5.95 | -40.85 | 4.17 | -49.82 | 4.19 | -53.13 | 3.16 | -51.38 | 0.74 | -3.9 | 10.31 | -25.83 | 32.71 | -16.94 | 69.09 | -23.49 | 30.91 | 218.85 | 0.04 | 0 | 27.31 | 3.8 |
| 2017 (4) | 2.76 | 78.06 | 24.51 | 6.57 | 9.09 | 38.36 | 3.69 | -34.23 | 10.06 | 46.43 | 8.31 | 50.27 | 8.94 | 67.42 | 6.50 | 64.56 | 0.77 | 10.0 | 13.90 | 10.58 | 39.38 | 3.17 | 90.31 | -5.66 | 9.69 | 126.84 | 0.00 | 0 | 26.31 | -2.3 |
| 2016 (3) | 1.55 | 416.67 | 23.00 | 32.11 | 6.57 | 550.5 | 5.61 | -4.4 | 6.87 | 250.51 | 5.53 | 421.7 | 5.34 | 413.46 | 3.95 | 364.71 | 0.70 | 1.45 | 12.57 | 55.19 | 38.17 | 4.15 | 95.73 | 80.82 | 4.27 | -91.45 | 0.00 | 0 | 26.93 | -1.28 |
| 2015 (2) | 0.30 | -18.92 | 17.41 | 6.09 | 1.01 | -4.72 | 5.87 | 17.39 | 1.96 | -17.99 | 1.06 | -9.4 | 1.04 | -17.46 | 0.85 | -14.14 | 0.69 | -9.21 | 8.10 | 6.44 | 36.65 | -24.67 | 52.94 | 18.49 | 50.00 | -9.62 | 0.00 | 0 | 27.28 | 3.88 |
| 2014 (1) | 0.37 | -82.95 | 16.41 | 0 | 1.06 | 0 | 5.00 | 18.39 | 2.39 | 0 | 1.17 | 0 | 1.26 | 0 | 0.99 | 0 | 0.76 | -8.43 | 7.61 | -31.87 | 48.65 | 36.97 | 44.68 | -39.68 | 55.32 | 113.37 | 0.00 | 0 | 26.26 | 18.45 |
