- 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) | 0.45 | -49.44 | -81.48 | 22.22 | 2.49 | -34.86 | 12.80 | -6.98 | -53.86 | 7.11 | -47.14 | -78.15 | 5.70 | -46.98 | -78.1 | 0.71 | -50.69 | -81.7 | 0.44 | -42.86 | -81.59 | 0.06 | -14.29 | -33.33 | 27.41 | -15.17 | -43.4 | 109.85 | 2.07 | 63.03 | 179.72 | 75.68 | 110.99 | -80.18 | -3380.0 | -644.24 | 14.60 | 2.74 | 10.19 |
| 24Q2 (19) | 0.89 | -10.1 | -65.1 | 21.68 | 6.48 | -37.43 | 13.76 | 8.52 | -51.53 | 13.45 | -15.52 | -59.72 | 10.75 | -15.55 | -60.49 | 1.44 | -7.69 | -66.04 | 0.77 | -4.94 | -70.72 | 0.07 | 16.67 | -30.0 | 32.31 | -12.93 | -32.97 | 107.62 | 4.24 | 77.97 | 102.30 | 28.41 | 20.33 | -2.30 | -111.33 | -115.38 | 14.21 | -6.27 | 9.73 |
| 24Q1 (18) | 0.99 | -40.0 | -56.58 | 20.36 | -34.58 | -42.45 | 12.68 | -48.39 | -56.37 | 15.92 | -23.31 | -45.89 | 12.73 | -23.31 | -45.92 | 1.56 | -38.58 | -57.95 | 0.81 | -44.14 | -66.67 | 0.06 | -25.0 | -40.0 | 37.11 | 1.23 | -14.75 | 103.24 | 10.68 | 67.14 | 79.67 | -32.64 | -19.31 | 20.33 | 211.27 | 1507.68 | 15.16 | 23.35 | 15.99 |
| 23Q4 (17) | 1.65 | -32.1 | -35.8 | 31.12 | -8.77 | -15.5 | 24.57 | -11.43 | -19.92 | 20.76 | -36.2 | -26.64 | 16.60 | -36.23 | -26.61 | 2.54 | -34.54 | -38.05 | 1.45 | -39.33 | -48.94 | 0.08 | -11.11 | -38.46 | 36.66 | -24.3 | -8.6 | 93.28 | 38.44 | 107.24 | 118.27 | 38.85 | 9.07 | -18.27 | -224.02 | -118.75 | 12.29 | -7.25 | 8.66 |
| 23Q3 (16) | 2.43 | -4.71 | -38.94 | 34.11 | -1.56 | -11.61 | 27.74 | -2.29 | -14.49 | 32.54 | -2.55 | -28.18 | 26.03 | -4.34 | -29.15 | 3.88 | -8.49 | -42.18 | 2.39 | -9.13 | -48.38 | 0.09 | -10.0 | -30.77 | 48.43 | 0.48 | -15.41 | 67.38 | 11.43 | 55.47 | 85.18 | 0.19 | 18.97 | 14.73 | -1.64 | -48.12 | 13.25 | 2.32 | 17.05 |
| 23Q2 (15) | 2.55 | 11.84 | -22.73 | 34.65 | -2.06 | -10.97 | 28.39 | -2.31 | -13.87 | 33.39 | 13.49 | -14.86 | 27.21 | 15.59 | -13.89 | 4.24 | 14.29 | -27.02 | 2.63 | 8.23 | -40.77 | 0.10 | 0.0 | -28.57 | 48.20 | 10.73 | -6.46 | 60.47 | -2.1 | 29.96 | 85.02 | -13.89 | 1.13 | 14.98 | 1084.44 | -5.98 | 12.95 | -0.92 | 14.91 |
| 23Q1 (14) | 2.28 | -11.28 | -11.63 | 35.38 | -3.94 | -2.53 | 29.06 | -5.28 | -4.38 | 29.42 | 3.96 | -12.34 | 23.54 | 4.07 | -12.16 | 3.71 | -9.51 | -20.9 | 2.43 | -14.44 | -40.88 | 0.10 | -23.08 | -33.33 | 43.53 | 8.53 | -9.1 | 61.77 | 37.24 | 323.37 | 98.74 | -8.94 | 9.08 | 1.26 | 115.14 | -86.66 | 13.07 | 15.56 | 3.4 |
| 22Q4 (13) | 2.57 | -35.43 | 162.24 | 36.83 | -4.56 | 65.68 | 30.68 | -5.43 | 114.1 | 28.30 | -37.54 | 100.42 | 22.62 | -38.43 | 88.5 | 4.10 | -38.9 | 121.62 | 2.84 | -38.66 | 74.23 | 0.13 | 0.0 | -7.14 | 40.11 | -29.94 | 33.92 | 45.01 | 3.85 | 227.11 | 108.43 | 51.44 | 6.77 | -8.35 | -129.41 | -435.81 | 11.31 | -0.09 | -34.13 |
| 22Q3 (12) | 3.98 | 20.61 | 261.82 | 38.59 | -0.85 | 72.05 | 32.44 | -1.58 | 90.6 | 45.31 | 15.53 | 169.54 | 36.74 | 16.27 | 172.96 | 6.71 | 15.49 | 218.01 | 4.63 | 4.28 | 148.92 | 0.13 | -7.14 | -7.14 | 57.25 | 11.1 | 77.03 | 43.34 | -6.86 | 252.07 | 71.60 | -14.83 | -29.33 | 28.40 | 78.25 | 2266.43 | 11.32 | 0.44 | -27.11 |
| 22Q2 (11) | 3.30 | 27.91 | 364.79 | 38.92 | 7.22 | 109.59 | 32.96 | 8.46 | 148.19 | 39.22 | 16.87 | 259.16 | 31.60 | 17.91 | 227.8 | 5.81 | 23.88 | 330.37 | 4.44 | 8.03 | 270.0 | 0.14 | -6.67 | 16.67 | 51.53 | 7.6 | 76.53 | 46.53 | 218.92 | 219.79 | 84.07 | -7.13 | -30.79 | 15.93 | 68.02 | 174.19 | 11.27 | -10.84 | -23.75 |
| 22Q1 (10) | 2.58 | 163.27 | 207.14 | 36.30 | 63.29 | 77.85 | 30.39 | 112.07 | 103.82 | 33.56 | 137.68 | 150.07 | 26.80 | 123.33 | 142.53 | 4.69 | 153.51 | 194.97 | 4.11 | 152.15 | 189.44 | 0.15 | 7.14 | 15.38 | 47.89 | 59.9 | 51.12 | 14.59 | 6.03 | 27.98 | 90.52 | -10.87 | -18.53 | 9.48 | 708.21 | 185.34 | 12.64 | -26.38 | -13.01 |
| 21Q4 (9) | 0.98 | -10.91 | 25.64 | 22.23 | -0.89 | 5.36 | 14.33 | -15.8 | -14.55 | 14.12 | -16.0 | 13.41 | 12.00 | -10.85 | 17.76 | 1.85 | -12.32 | 24.16 | 1.63 | -12.37 | 22.56 | 0.14 | 0.0 | 7.69 | 29.95 | -7.39 | -4.37 | 13.76 | 11.78 | 1.62 | 101.56 | 0.24 | -24.5 | -1.56 | -18.93 | 95.52 | 17.17 | 10.56 | 44.29 |
| 21Q3 (8) | 1.10 | 54.93 | 57.14 | 22.43 | 20.79 | 15.38 | 17.02 | 28.16 | 19.19 | 16.81 | 53.94 | 50.76 | 13.46 | 39.63 | 46.78 | 2.11 | 56.3 | 55.15 | 1.86 | 55.0 | 55.0 | 0.14 | 16.67 | 7.69 | 32.34 | 10.79 | 7.69 | 12.31 | -15.4 | 15.26 | 101.31 | -16.6 | -20.78 | -1.31 | 93.9 | 95.35 | 15.53 | 5.07 | 9.14 |
| 21Q2 (7) | 0.71 | -15.48 | -19.32 | 18.57 | -9.02 | -10.68 | 13.28 | -10.93 | -15.25 | 10.92 | -18.63 | -12.78 | 9.64 | -12.76 | -12.6 | 1.35 | -15.09 | -19.64 | 1.20 | -15.49 | -19.46 | 0.12 | -7.69 | -7.69 | 29.19 | -7.89 | -4.64 | 14.55 | 27.63 | -12.77 | 121.47 | 9.33 | -3.07 | -21.47 | -93.27 | 14.32 | 14.78 | 1.72 | 0 |
| 21Q1 (6) | 0.84 | 7.69 | -17.65 | 20.41 | -3.27 | 4.35 | 14.91 | -11.09 | 0.34 | 13.42 | 7.79 | -18.62 | 11.05 | 8.44 | -17.9 | 1.59 | 6.71 | -17.19 | 1.42 | 6.77 | -17.92 | 0.13 | 0.0 | 0.0 | 31.69 | 1.18 | -11.26 | 11.40 | -15.81 | 14.8 | 111.11 | -17.4 | 23.09 | -11.11 | 68.06 | -211.81 | 14.53 | 22.1 | 0.48 |
| 20Q4 (5) | 0.78 | 11.43 | 69.57 | 21.10 | 8.54 | 9.78 | 16.77 | 17.44 | 24.13 | 12.45 | 11.66 | 47.34 | 10.19 | 11.12 | 55.1 | 1.49 | 9.56 | 69.32 | 1.33 | 10.83 | 68.35 | 0.13 | 0.0 | 8.33 | 31.32 | 4.3 | 7.93 | 13.54 | 26.78 | 14.07 | 134.51 | 5.19 | -16.02 | -34.78 | -23.42 | 41.78 | 11.90 | -16.37 | -15.66 |
| 20Q3 (4) | 0.70 | -20.45 | 0.0 | 19.44 | -6.49 | 0.0 | 14.28 | -8.87 | 0.0 | 11.15 | -10.94 | 0.0 | 9.17 | -16.86 | 0.0 | 1.36 | -19.05 | 0.0 | 1.20 | -19.46 | 0.0 | 0.13 | 0.0 | 0.0 | 30.03 | -1.89 | 0.0 | 10.68 | -35.97 | 0.0 | 127.88 | 2.04 | 0.0 | -28.18 | -12.44 | 0.0 | 14.23 | 0 | 0.0 |
| 20Q2 (3) | 0.88 | -13.73 | 0.0 | 20.79 | 6.29 | 0.0 | 15.67 | 5.45 | 0.0 | 12.52 | -24.08 | 0.0 | 11.03 | -18.05 | 0.0 | 1.68 | -12.5 | 0.0 | 1.49 | -13.87 | 0.0 | 0.13 | 0.0 | 0.0 | 30.61 | -14.28 | 0.0 | 16.68 | 67.98 | 0.0 | 125.32 | 38.83 | 0.0 | -25.06 | -352.21 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 1.02 | 121.74 | 0.0 | 19.56 | 1.77 | 0.0 | 14.86 | 9.99 | 0.0 | 16.49 | 95.15 | 0.0 | 13.46 | 104.87 | 0.0 | 1.92 | 118.18 | 0.0 | 1.73 | 118.99 | 0.0 | 0.13 | 8.33 | 0.0 | 35.71 | 23.05 | 0.0 | 9.93 | -16.34 | 0.0 | 90.27 | -43.64 | 0.0 | 9.94 | 116.64 | 0.0 | 14.46 | 2.48 | 0.0 |
| 19Q4 (1) | 0.46 | 0.0 | 0.0 | 19.22 | 0.0 | 0.0 | 13.51 | 0.0 | 0.0 | 8.45 | 0.0 | 0.0 | 6.57 | 0.0 | 0.0 | 0.88 | 0.0 | 0.0 | 0.79 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 29.02 | 0.0 | 0.0 | 11.87 | 0.0 | 0.0 | 160.17 | 0.0 | 0.0 | -59.74 | 0.0 | 0.0 | 14.11 | 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) | 8.92 | -28.24 | 33.79 | -10.32 | 27.41 | -13.34 | 14.92 | 19.11 | 28.92 | -20.9 | 23.25 | -20.95 | 13.76 | -34.82 | 8.19 | -49.29 | 0.35 | -36.36 | 44.09 | -10.2 | 93.28 | 107.24 | 94.79 | 9.57 | 5.18 | -61.6 | 0.01 | -37.25 | 12.88 | 11.03 |
| 2022 (9) | 12.43 | 241.48 | 37.68 | 79.6 | 31.63 | 111.86 | 12.52 | -25.82 | 36.56 | 163.02 | 29.41 | 153.53 | 21.11 | 208.18 | 16.15 | 167.83 | 0.55 | 5.77 | 49.10 | 59.31 | 45.01 | 227.11 | 86.52 | -19.44 | 13.50 | 0 | 0.02 | -42.36 | 11.60 | -25.35 |
| 2021 (8) | 3.64 | 8.01 | 20.98 | 3.71 | 14.93 | -3.05 | 16.88 | -9.84 | 13.90 | 5.78 | 11.60 | 5.84 | 6.85 | 6.7 | 6.03 | 5.79 | 0.52 | 0.0 | 30.82 | -3.39 | 13.76 | 1.62 | 107.39 | -8.38 | -7.39 | 0 | 0.03 | 11.3 | 15.54 | 15.11 |
| 2020 (7) | 3.37 | -38.5 | 20.23 | -27.72 | 15.40 | -31.59 | 18.73 | -3.16 | 13.14 | -42.72 | 10.96 | -40.01 | 6.42 | -36.31 | 5.70 | -36.24 | 0.52 | 6.12 | 31.90 | -24.59 | 13.54 | 14.07 | 117.22 | 19.46 | -17.22 | 0 | 0.03 | 0 | 13.50 | 1.05 |
| 2019 (6) | 5.48 | -41.76 | 27.99 | -34.25 | 22.51 | -40.42 | 19.34 | 50.48 | 22.94 | -41.43 | 18.27 | -46.44 | 10.08 | -60.76 | 8.94 | -60.76 | 0.49 | -26.87 | 42.30 | -18.72 | 11.87 | -13.86 | 98.13 | 1.75 | 1.87 | -47.35 | 0.00 | 0 | 13.36 | 29.46 |
| 2018 (5) | 9.41 | 225.61 | 42.57 | 59.44 | 37.78 | 74.66 | 12.85 | -21.46 | 39.17 | 90.42 | 34.11 | 93.37 | 25.69 | 138.75 | 22.78 | 133.4 | 0.67 | 21.82 | 52.04 | 40.57 | 13.78 | 16.48 | 96.44 | -8.29 | 3.56 | 0 | 0.00 | 0 | 10.32 | -18.35 |
| 2017 (4) | 2.89 | 207.45 | 26.70 | 111.23 | 21.63 | 143.03 | 16.36 | -15.62 | 20.57 | 145.17 | 17.64 | 160.56 | 10.76 | 195.6 | 9.76 | 193.09 | 0.55 | 12.24 | 37.02 | 31.37 | 11.83 | 37.24 | 105.16 | -0.97 | -5.16 | 0 | 0.00 | 0 | 12.64 | -4.17 |
| 2016 (3) | 0.94 | -43.03 | 12.64 | -29.31 | 8.90 | -37.32 | 19.39 | -0.26 | 8.39 | -42.69 | 6.77 | -44.46 | 3.64 | -43.39 | 3.33 | -42.69 | 0.49 | 2.08 | 28.18 | -19.05 | 8.62 | -14.48 | 106.19 | 9.47 | -6.19 | 0 | 0.00 | 0 | 13.19 | 2.97 |
| 2015 (2) | 1.65 | 17.86 | 17.88 | 28.54 | 14.20 | 28.97 | 19.44 | 6.97 | 14.64 | 26.97 | 12.19 | 25.03 | 6.43 | 13.6 | 5.81 | 15.74 | 0.48 | -5.88 | 34.81 | 13.87 | 10.08 | -15.22 | 97.00 | 1.59 | 3.00 | -33.61 | 0.00 | 0 | 12.81 | 14.68 |
| 2014 (1) | 1.40 | 250.0 | 13.91 | 0 | 11.01 | 0 | 18.18 | -8.91 | 11.53 | 0 | 9.75 | 0 | 5.66 | 0 | 5.02 | 0 | 0.51 | 18.6 | 30.57 | 13.52 | 11.89 | -28.5 | 95.49 | -7.52 | 4.51 | 0 | 0.00 | 0 | 11.17 | -6.68 |
