- 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) | 2.85 | 63.79 | 141.53 | 46.07 | -8.39 | 3.93 | 12.09 | -63.27 | -33.5 | 11.68 | -66.87 | -58.77 | 67.65 | 139.55 | 199.47 | 11.71 | 54.08 | 117.66 | 7.27 | 79.95 | 171.27 | 0.11 | -21.43 | -8.33 | 15.85 | -58.65 | -54.03 | 54.31 | -21.07 | -49.87 | 105.26 | 13.26 | 65.01 | -5.26 | -174.56 | -114.54 | 37.08 | 101.96 | 14.09 |
| 24Q2 (19) | 1.74 | 1260.0 | 112.2 | 50.29 | 87.79 | 19.74 | 32.92 | 269.08 | 103.46 | 35.26 | 1763.21 | 101.6 | 28.24 | 595.44 | 104.93 | 7.60 | 1251.52 | 114.69 | 4.04 | 1716.0 | 125.7 | 0.14 | 133.33 | 16.67 | 38.33 | 393.31 | 63.25 | 68.81 | -37.17 | -34.58 | 92.94 | -90.71 | 0.48 | 7.06 | 100.78 | -5.88 | 18.36 | -62.14 | -8.84 |
| 24Q1 (18) | -0.15 | -134.88 | -175.0 | 26.78 | -33.1 | -32.46 | -19.47 | -181.46 | -394.55 | -2.12 | -114.99 | -125.24 | -5.70 | -155.45 | -207.75 | -0.66 | -134.74 | -181.48 | -0.25 | -125.25 | -154.35 | 0.06 | -33.33 | -14.29 | 7.77 | -64.6 | -58.93 | 109.52 | 7.02 | 3.41 | 1000.00 | 489.74 | 1100.0 | -900.00 | -1193.75 | -3700.0 | 48.50 | 153.66 | 55.6 |
| 23Q4 (17) | 0.43 | -63.56 | -71.14 | 40.03 | -9.7 | -28.53 | 23.90 | 31.46 | -33.92 | 14.14 | -50.09 | -47.94 | 10.28 | -54.49 | -45.26 | 1.90 | -64.68 | -69.21 | 0.99 | -63.06 | -64.39 | 0.09 | -25.0 | -35.71 | 21.95 | -36.34 | -33.73 | 102.34 | -5.53 | -25.06 | 169.57 | 165.8 | 28.32 | -69.57 | -292.13 | -108.7 | 19.12 | -41.17 | 7.48 |
| 23Q3 (16) | 1.18 | 43.9 | -59.03 | 44.33 | 5.55 | -3.8 | 18.18 | 12.36 | -38.46 | 28.33 | 61.98 | -34.99 | 22.59 | 63.93 | -33.52 | 5.38 | 51.98 | -59.09 | 2.68 | 49.72 | -55.18 | 0.12 | 0.0 | -29.41 | 34.48 | 46.85 | -29.55 | 108.33 | 2.99 | -9.97 | 63.79 | -31.03 | -5.95 | 36.21 | 382.76 | 12.56 | 32.50 | 61.37 | 60.02 |
| 23Q2 (15) | 0.82 | 310.0 | -42.25 | 42.00 | 5.93 | 3.55 | 16.18 | 144.78 | -36.17 | 17.49 | 108.21 | -38.76 | 13.78 | 160.49 | -35.79 | 3.54 | 337.04 | -48.4 | 1.79 | 289.13 | -45.76 | 0.12 | 71.43 | -20.0 | 23.48 | 24.1 | -33.22 | 105.18 | -0.69 | -16.24 | 92.50 | 11.0 | 3.88 | 7.50 | -70.0 | -31.56 | 20.14 | -35.39 | 5.06 |
| 23Q1 (14) | 0.20 | -86.58 | -66.1 | 39.65 | -29.21 | 16.48 | 6.61 | -81.73 | 191.19 | 8.40 | -69.07 | -56.79 | 5.29 | -71.83 | -66.22 | 0.81 | -86.87 | -71.78 | 0.46 | -83.45 | -70.51 | 0.07 | -50.0 | -22.22 | 18.92 | -42.87 | -39.96 | 105.91 | -22.44 | 4.62 | 83.33 | -36.94 | 677.78 | 25.00 | 175.0 | -72.0 | 31.17 | 75.21 | -23.55 |
| 22Q4 (13) | 1.49 | -48.26 | 36.7 | 56.01 | 21.55 | 62.49 | 36.17 | 22.44 | 78.09 | 27.16 | -37.68 | 25.57 | 18.78 | -44.73 | 5.09 | 6.17 | -53.08 | 10.18 | 2.78 | -53.51 | -9.45 | 0.14 | -17.65 | -12.5 | 33.12 | -32.33 | 14.44 | 136.56 | 13.5 | 57.45 | 132.14 | 94.81 | 40.4 | -33.33 | -203.62 | -666.67 | 17.79 | -12.41 | -42.28 |
| 22Q3 (12) | 2.88 | 102.82 | 405.26 | 46.08 | 13.61 | 45.73 | 29.54 | 16.53 | 114.21 | 43.58 | 52.59 | 213.07 | 33.98 | 58.34 | 220.87 | 13.15 | 91.69 | 341.28 | 5.98 | 81.21 | 278.48 | 0.17 | 13.33 | 21.43 | 48.94 | 39.19 | 129.12 | 120.32 | -4.18 | 24.79 | 67.83 | -23.82 | -29.75 | 32.17 | 193.53 | 0 | 20.31 | 5.95 | -19.37 |
| 22Q2 (11) | 1.42 | 140.68 | 67.06 | 40.56 | 19.15 | -14.45 | 25.35 | 1016.74 | -2.42 | 28.56 | 46.91 | 25.1 | 21.46 | 37.04 | 16.25 | 6.86 | 139.02 | 53.47 | 3.30 | 111.54 | 31.47 | 0.15 | 66.67 | 15.38 | 35.16 | 11.58 | 5.49 | 125.57 | 24.04 | 32.3 | 89.04 | 731.05 | -22.57 | 10.96 | -87.73 | 173.06 | 19.17 | -52.98 | -45.12 |
| 22Q1 (10) | 0.59 | -45.87 | 15.69 | 34.04 | -1.25 | -8.42 | 2.27 | -88.82 | -85.31 | 19.44 | -10.12 | 39.66 | 15.66 | -12.37 | 23.31 | 2.87 | -48.75 | 1.77 | 1.56 | -49.19 | -8.77 | 0.09 | -43.75 | -30.77 | 31.51 | 8.88 | 43.62 | 101.23 | 16.72 | 44.55 | 10.71 | -88.62 | -90.18 | 89.29 | 1417.86 | 1082.14 | 40.77 | 32.28 | 2.85 |
| 21Q4 (9) | 1.09 | 91.23 | 336.0 | 34.47 | 9.01 | 21.16 | 20.31 | 47.28 | 507.01 | 21.63 | 55.39 | 323.29 | 17.87 | 68.74 | 200.34 | 5.60 | 87.92 | 291.61 | 3.07 | 94.3 | 248.86 | 0.16 | 14.29 | 14.29 | 28.94 | 35.49 | 146.72 | 86.73 | -10.05 | 31.23 | 94.12 | -2.52 | 194.12 | 5.88 | 0 | -97.06 | 30.82 | 22.35 | -29.59 |
| 21Q3 (8) | 0.57 | -32.94 | -61.22 | 31.62 | -33.31 | -21.05 | 13.79 | -46.92 | -61.46 | 13.92 | -39.03 | -66.82 | 10.59 | -42.63 | -70.58 | 2.98 | -33.33 | -66.7 | 1.58 | -37.05 | -69.5 | 0.14 | 7.69 | 0.0 | 21.36 | -35.91 | -56.43 | 96.42 | 1.59 | 39.82 | 96.55 | -16.04 | 12.07 | 0.00 | 100.0 | -100.0 | 25.19 | -27.88 | -38.81 |
| 21Q2 (7) | 0.85 | 66.67 | 286.36 | 47.41 | 27.55 | 43.75 | 25.98 | 68.16 | 377.57 | 22.83 | 64.01 | 371.69 | 18.46 | 45.35 | 183.56 | 4.47 | 58.51 | 238.64 | 2.51 | 46.78 | 202.41 | 0.13 | 0.0 | 0.0 | 33.33 | 51.91 | 168.79 | 94.91 | 35.53 | 19.96 | 115.00 | 5.42 | -1.43 | -15.00 | -65.0 | 10.0 | 34.93 | -11.88 | 0 |
| 21Q1 (6) | 0.51 | 104.0 | 737.5 | 37.17 | 30.65 | 27.91 | 15.45 | 409.62 | 471.39 | 13.92 | 172.41 | 511.83 | 12.70 | 113.45 | 469.19 | 2.82 | 97.2 | 713.04 | 1.71 | 94.32 | 670.0 | 0.13 | -7.14 | 30.0 | 21.94 | 87.04 | 188.3 | 70.03 | 5.96 | 49.41 | 109.09 | 209.09 | -18.18 | -9.09 | -104.55 | 72.73 | 39.64 | -9.44 | 0 |
| 20Q4 (5) | 0.25 | -82.99 | -40.48 | 28.45 | -28.96 | -16.27 | -4.99 | -113.95 | -135.39 | 5.11 | -87.82 | -56.21 | 5.95 | -83.47 | -45.86 | 1.43 | -84.02 | -39.92 | 0.88 | -83.01 | -49.71 | 0.14 | 0.0 | -12.5 | 11.73 | -76.08 | -28.17 | 66.09 | -4.16 | 86.54 | -100.00 | -216.07 | -180.95 | 200.00 | 1200.0 | 950.0 | 43.77 | 6.32 | 13.69 |
| 20Q3 (4) | 1.47 | 568.18 | 0.0 | 40.05 | 21.44 | 0.0 | 35.78 | 557.72 | 0.0 | 41.95 | 766.74 | 0.0 | 36.00 | 453.0 | 0.0 | 8.95 | 578.03 | 0.0 | 5.18 | 524.1 | 0.0 | 0.14 | 7.69 | 0.0 | 49.03 | 295.4 | 0.0 | 68.96 | -12.84 | 0.0 | 86.15 | -26.15 | 0.0 | 15.38 | 192.31 | 0.0 | 41.17 | 0 | 0.0 |
| 20Q2 (3) | 0.22 | 375.0 | 0.0 | 32.98 | 13.49 | 0.0 | 5.44 | 230.77 | 0.0 | 4.84 | 243.2 | 0.0 | 6.51 | 289.24 | 0.0 | 1.32 | 386.96 | 0.0 | 0.83 | 376.67 | 0.0 | 0.13 | 30.0 | 0.0 | 12.40 | 62.94 | 0.0 | 79.12 | 68.81 | 0.0 | 116.67 | -12.5 | 0.0 | -16.67 | 50.0 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | -0.08 | -119.05 | 0.0 | 29.06 | -14.48 | 0.0 | -4.16 | -129.5 | 0.0 | -3.38 | -128.96 | 0.0 | -3.44 | -131.3 | 0.0 | -0.46 | -119.33 | 0.0 | -0.30 | -117.14 | 0.0 | 0.10 | -37.5 | 0.0 | 7.61 | -53.4 | 0.0 | 46.87 | 32.29 | 0.0 | 133.33 | 7.94 | 0.0 | -33.33 | -41.67 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 0.42 | 0.0 | 0.0 | 33.98 | 0.0 | 0.0 | 14.10 | 0.0 | 0.0 | 11.67 | 0.0 | 0.0 | 10.99 | 0.0 | 0.0 | 2.38 | 0.0 | 0.0 | 1.75 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 16.33 | 0.0 | 0.0 | 35.43 | 0.0 | 0.0 | 123.53 | 0.0 | 0.0 | -23.53 | 0.0 | 0.0 | 38.50 | 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) | 2.63 | -58.71 | 41.73 | -9.24 | 16.53 | -37.97 | 6.31 | 2.32 | 17.91 | -43.36 | 13.73 | -42.34 | 11.05 | -61.11 | 5.30 | -60.97 | 0.37 | -33.93 | 25.23 | -34.54 | 102.34 | -25.06 | 92.48 | 9.51 | 7.52 | -52.57 | 0.00 | 0 | 25.47 | 14.99 |
| 2022 (9) | 6.37 | 110.93 | 45.98 | 23.57 | 26.65 | 41.08 | 6.17 | -19.22 | 31.62 | 72.79 | 23.81 | 58.52 | 28.41 | 79.81 | 13.58 | 46.81 | 0.56 | -5.08 | 38.54 | 45.32 | 136.56 | 57.45 | 84.45 | -18.44 | 15.85 | 0 | 0.00 | 0 | 22.15 | -30.85 |
| 2021 (8) | 3.02 | 64.13 | 37.21 | 12.79 | 18.89 | 100.53 | 7.63 | 2.66 | 18.30 | 28.69 | 15.02 | 14.22 | 15.80 | 53.7 | 9.25 | 33.86 | 0.59 | 13.46 | 26.52 | 20.93 | 86.73 | 31.23 | 103.55 | 56.33 | -3.55 | 0 | 0.00 | 0 | 32.03 | -25.42 |
| 2020 (7) | 1.84 | -24.28 | 32.99 | -7.49 | 9.42 | -34.81 | 7.43 | 68.98 | 14.22 | -8.79 | 13.15 | 4.12 | 10.28 | -25.56 | 6.91 | -11.07 | 0.52 | -11.86 | 21.93 | 6.82 | 66.09 | 86.54 | 66.23 | -28.25 | 33.77 | 338.96 | 0.00 | 0 | 42.95 | 39.9 |
| 2019 (6) | 2.43 | -21.86 | 35.66 | 15.67 | 14.45 | 24.14 | 4.40 | 38.98 | 15.59 | 6.42 | 12.63 | 0.16 | 13.81 | -26.07 | 7.77 | -8.16 | 0.59 | -7.81 | 20.53 | 11.27 | 35.43 | -73.33 | 92.31 | 15.6 | 7.69 | -63.19 | 0.00 | 0 | 30.70 | 24.8 |
| 2018 (5) | 3.11 | -41.21 | 30.83 | -10.09 | 11.64 | -44.62 | 3.17 | 10.9 | 14.65 | -26.79 | 12.61 | -20.79 | 18.68 | -54.88 | 8.46 | -50.26 | 0.64 | -39.05 | 18.45 | -20.41 | 132.85 | 4.57 | 79.85 | -24.09 | 20.90 | 0 | 0.00 | 0 | 24.60 | 24.68 |
| 2017 (4) | 5.29 | 0 | 34.29 | 63.83 | 21.02 | 0 | 2.85 | -66.96 | 20.01 | 0 | 15.92 | 0 | 41.40 | 0 | 17.01 | 0 | 1.05 | 81.03 | 23.18 | 529.89 | 127.04 | -29.18 | 105.19 | -13.69 | -5.19 | 0 | 0.00 | 0 | 19.73 | -49.1 |
| 2016 (3) | -0.66 | 0 | 20.93 | -2.61 | -7.25 | 0 | 8.64 | -33.43 | -5.93 | 0 | -6.86 | 0 | -10.89 | 0 | -3.56 | 0 | 0.58 | 9.43 | 3.68 | 0 | 179.39 | 4.13 | 121.88 | 55.43 | -21.88 | 0 | 0.00 | 0 | 38.76 | -15.37 |
| 2015 (2) | -1.70 | 0 | 21.49 | 18.01 | -14.70 | 0 | 12.98 | -9.93 | -18.78 | 0 | -19.08 | 0 | -23.93 | 0 | -9.41 | 0 | 0.53 | -7.02 | -4.26 | 0 | 172.28 | 58.21 | 78.41 | 80.34 | 21.59 | -61.8 | 0.00 | 0 | 45.80 | 29.71 |
| 2014 (1) | -2.29 | 0 | 18.21 | 0 | -8.69 | 0 | 14.41 | -29.78 | -20.06 | 0 | -19.88 | 0 | -25.98 | 0 | -10.76 | 0 | 0.57 | 32.56 | -4.34 | 0 | 108.89 | -24.41 | 43.48 | -22.18 | 56.52 | 28.08 | 0.00 | 0 | 35.31 | -18.57 |
