- 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) | 0.22 | -31.25 | 100.0 | 24.44 | -2.47 | -1.53 | 6.56 | 9.33 | 317.83 | 5.65 | -28.12 | 126.91 | 5.01 | -28.94 | 80.22 | 1.11 | -28.39 | 117.65 | 0.89 | -27.05 | 97.78 | 0.17 | 0.0 | 21.43 | 10.67 | -17.03 | 20.84 | 31.60 | -10.25 | 29.61 | 115.79 | 53.42 | 88.16 | -15.79 | -169.74 | -141.05 | 18.97 | 0.42 | -15.27 |
| 24Q2 (19) | 0.32 | 68.42 | 220.0 | 25.06 | -0.83 | -1.76 | 6.00 | 44.23 | 270.37 | 7.86 | 55.95 | 105.22 | 7.05 | 45.06 | 138.98 | 1.55 | 78.16 | 210.0 | 1.22 | 69.44 | 165.22 | 0.17 | 21.43 | 30.77 | 12.86 | 15.54 | 15.96 | 35.21 | 24.2 | 18.91 | 75.47 | -7.38 | 69.81 | 22.64 | 22.26 | -62.95 | 18.89 | -12.63 | -18.82 |
| 24Q1 (18) | 0.19 | 280.0 | 90.0 | 25.27 | 0.08 | -7.74 | 4.16 | 77.78 | -2.8 | 5.04 | 380.0 | 84.62 | 4.86 | 507.5 | 92.09 | 0.87 | 521.43 | 117.5 | 0.72 | 380.0 | 75.61 | 0.14 | 0.0 | 16.67 | 11.13 | 51.84 | -2.02 | 28.35 | -8.22 | -9.34 | 81.48 | -59.26 | -48.54 | 18.52 | 115.87 | 131.75 | 21.62 | -5.88 | -5.59 |
| 23Q4 (17) | 0.05 | -54.55 | 125.0 | 25.25 | 1.73 | -1.48 | 2.34 | 49.04 | 39.29 | 1.05 | -57.83 | 122.15 | 0.80 | -71.22 | 112.23 | 0.14 | -72.55 | 113.59 | 0.15 | -66.67 | 122.73 | 0.14 | 0.0 | 16.67 | 7.33 | -16.99 | 48.08 | 30.89 | 26.7 | -18.19 | 200.00 | 225.0 | 700.0 | -116.67 | -403.33 | -184.48 | 22.97 | 2.59 | 4.69 |
| 23Q3 (16) | 0.11 | 10.0 | -26.67 | 24.82 | -2.7 | -1.35 | 1.57 | -3.09 | 86.9 | 2.49 | -34.99 | -55.54 | 2.78 | -5.76 | -48.13 | 0.51 | 2.0 | -40.7 | 0.45 | -2.17 | -37.5 | 0.14 | 7.69 | 16.67 | 8.83 | -20.38 | -34.3 | 24.38 | -17.66 | -29.62 | 61.54 | 38.46 | 284.62 | 38.46 | -37.06 | -56.29 | 22.39 | -3.78 | 6.37 |
| 23Q2 (15) | 0.10 | 0.0 | -16.67 | 25.51 | -6.86 | -2.37 | 1.62 | -62.15 | -48.41 | 3.83 | 40.29 | -29.47 | 2.95 | 16.6 | -31.87 | 0.50 | 25.0 | -29.58 | 0.46 | 12.2 | -24.59 | 0.13 | 8.33 | 8.33 | 11.09 | -2.38 | -14.76 | 29.61 | -5.31 | -14.89 | 44.44 | -71.93 | -25.93 | 61.11 | 204.76 | 38.89 | 23.27 | 1.62 | 8.43 |
| 23Q1 (14) | 0.10 | 150.0 | -23.08 | 27.39 | 6.87 | 16.21 | 4.28 | 154.76 | 15.36 | 2.73 | 157.59 | -38.65 | 2.53 | 138.69 | -34.11 | 0.40 | 138.83 | -37.5 | 0.41 | 162.12 | -24.07 | 0.12 | 0.0 | 0.0 | 11.36 | 129.49 | -3.81 | 31.27 | -17.19 | -17.41 | 158.33 | 575.0 | 84.72 | -58.33 | -142.24 | -508.33 | 22.90 | 4.38 | 20.46 |
| 22Q4 (13) | -0.20 | -233.33 | -195.24 | 25.63 | 1.87 | 10.71 | 1.68 | 100.0 | -74.15 | -4.74 | -184.64 | -172.26 | -6.54 | -222.01 | -218.91 | -1.03 | -219.77 | -203.0 | -0.66 | -191.67 | -183.54 | 0.12 | 0.0 | -7.69 | 4.95 | -63.17 | -63.06 | 37.76 | 9.01 | -16.74 | -33.33 | -308.33 | -134.38 | 138.10 | 56.93 | 0 | 21.94 | 4.23 | 28.38 |
| 22Q3 (12) | 0.15 | 25.0 | -25.0 | 25.16 | -3.71 | 11.82 | 0.84 | -73.25 | -83.63 | 5.60 | 3.13 | 0.36 | 5.36 | 23.79 | 6.35 | 0.86 | 21.13 | -6.52 | 0.72 | 18.03 | -1.37 | 0.12 | 0.0 | 0.0 | 13.44 | 3.31 | 5.16 | 34.64 | -0.43 | -19.61 | 16.00 | -73.33 | -82.72 | 88.00 | 100.0 | 1088.0 | 21.05 | -1.91 | 14.9 |
| 22Q2 (11) | 0.12 | -7.69 | -61.29 | 26.13 | 10.86 | 0.46 | 3.14 | -15.36 | -64.68 | 5.43 | 22.02 | -19.44 | 4.33 | 12.76 | -33.99 | 0.71 | 10.94 | -51.37 | 0.61 | 12.96 | -44.55 | 0.12 | 0.0 | -20.0 | 13.01 | 10.16 | -0.91 | 34.79 | -8.11 | -31.31 | 60.00 | -30.0 | -55.0 | 44.00 | 208.0 | 243.0 | 21.46 | 12.89 | 17.52 |
| 22Q1 (10) | 0.13 | -38.1 | -55.17 | 23.57 | 1.81 | -5.23 | 3.71 | -42.92 | -51.25 | 4.45 | -32.16 | -45.4 | 3.84 | -30.18 | -44.99 | 0.64 | -36.0 | -55.56 | 0.54 | -31.65 | -51.35 | 0.12 | -7.69 | -14.29 | 11.81 | -11.87 | -20.95 | 37.86 | -16.52 | -16.85 | 85.71 | -11.61 | -8.01 | 14.29 | 0 | 109.52 | 19.01 | 11.23 | 4.05 |
| 21Q4 (9) | 0.21 | 5.0 | 110.0 | 23.15 | 2.89 | 5.9 | 6.50 | 26.71 | 1757.14 | 6.56 | 17.56 | 112.3 | 5.50 | 9.13 | 95.73 | 1.00 | 8.7 | 108.33 | 0.79 | 8.22 | 92.68 | 0.13 | 8.33 | 8.33 | 13.40 | 4.85 | 23.39 | 45.35 | 5.24 | 8.36 | 96.97 | 4.73 | 578.79 | 0.00 | -100.0 | -100.0 | 17.09 | -6.71 | -22.25 |
| 21Q3 (8) | 0.20 | -35.48 | -9.09 | 22.50 | -13.49 | 12.56 | 5.13 | -42.29 | 233.12 | 5.58 | -17.21 | 3.91 | 5.04 | -23.17 | 7.69 | 0.92 | -36.99 | 4.55 | 0.73 | -33.64 | 5.8 | 0.12 | -20.0 | -14.29 | 12.78 | -2.67 | 0.16 | 43.09 | -14.93 | 14.66 | 92.59 | -30.56 | 243.92 | 7.41 | 124.07 | -89.3 | 18.32 | 0.33 | 11.71 |
| 21Q2 (7) | 0.31 | 6.9 | 181.82 | 26.01 | 4.58 | 30.84 | 8.89 | 16.82 | 365.45 | 6.74 | -17.3 | 151.49 | 6.56 | -6.02 | 254.59 | 1.46 | 1.39 | 317.14 | 1.10 | -0.9 | 254.84 | 0.15 | 7.14 | 7.14 | 13.13 | -12.12 | 41.18 | 50.65 | 11.25 | 51.6 | 133.33 | 43.09 | 92.59 | -30.77 | -551.28 | -200.0 | 18.26 | -0.05 | 10.6 |
| 21Q1 (6) | 0.29 | 190.0 | 514.29 | 24.87 | 13.77 | 60.76 | 7.61 | 2074.29 | 363.32 | 8.15 | 163.75 | 571.1 | 6.98 | 148.4 | 415.84 | 1.44 | 200.0 | 442.86 | 1.11 | 170.73 | 544.0 | 0.14 | 16.67 | 0.0 | 14.94 | 37.57 | 196.43 | 45.53 | 8.79 | 23.25 | 93.18 | 552.27 | -40.1 | 6.82 | -92.05 | 110.23 | 18.27 | -16.88 | -3.79 |
| 20Q4 (5) | 0.10 | -54.55 | 104.13 | 21.86 | 9.35 | 44.96 | 0.35 | -77.27 | 102.71 | 3.09 | -42.46 | 104.75 | 2.81 | -39.96 | 104.71 | 0.48 | -45.45 | 104.6 | 0.41 | -40.58 | 105.11 | 0.12 | -14.29 | -14.29 | 10.86 | -14.89 | 119.42 | 41.85 | 11.36 | 26.93 | 14.29 | -46.94 | -27.88 | 85.71 | 23.81 | 6.89 | 21.98 | 34.02 | 4.47 |
| 20Q3 (4) | 0.22 | 100.0 | 0.0 | 19.99 | 0.55 | 0.0 | 1.54 | -19.37 | 0.0 | 5.37 | 100.37 | 0.0 | 4.68 | 152.97 | 0.0 | 0.88 | 151.43 | 0.0 | 0.69 | 122.58 | 0.0 | 0.14 | 0.0 | 0.0 | 12.76 | 37.2 | 0.0 | 37.58 | 12.48 | 0.0 | 26.92 | -61.11 | 0.0 | 69.23 | 125.0 | 0.0 | 16.40 | -0.67 | 0.0 |
| 20Q2 (3) | 0.11 | 257.14 | 0.0 | 19.88 | 28.51 | 0.0 | 1.91 | 166.09 | 0.0 | 2.68 | 254.91 | 0.0 | 1.85 | 183.71 | 0.0 | 0.35 | 183.33 | 0.0 | 0.31 | 224.0 | 0.0 | 0.14 | 0.0 | 0.0 | 9.30 | 84.52 | 0.0 | 33.41 | -9.56 | 0.0 | 69.23 | -55.49 | 0.0 | 30.77 | 146.15 | 0.0 | 16.51 | -13.06 | 0.0 |
| 20Q1 (2) | -0.07 | 97.11 | 0.0 | 15.47 | 2.59 | 0.0 | -2.89 | 77.61 | 0.0 | -1.73 | 97.34 | 0.0 | -2.21 | 96.3 | 0.0 | -0.42 | 95.98 | 0.0 | -0.25 | 96.88 | 0.0 | 0.14 | 0.0 | 0.0 | 5.04 | 109.01 | 0.0 | 36.94 | 12.04 | 0.0 | 155.56 | 685.3 | 0.0 | -66.67 | -183.13 | 0.0 | 18.99 | -9.74 | 0.0 |
| 19Q4 (1) | -2.42 | 0.0 | 0.0 | 15.08 | 0.0 | 0.0 | -12.91 | 0.0 | 0.0 | -65.04 | 0.0 | 0.0 | -59.67 | 0.0 | 0.0 | -10.44 | 0.0 | 0.0 | -8.02 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | -55.93 | 0.0 | 0.0 | 32.97 | 0.0 | 0.0 | 19.81 | 0.0 | 0.0 | 80.19 | 0.0 | 0.0 | 21.04 | 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) | 0.35 | 75.0 | 25.68 | 2.27 | 2.40 | 1.69 | 6.28 | -11.04 | 2.48 | -10.47 | 2.24 | 21.74 | 1.55 | 27.05 | 1.43 | 18.18 | 0.52 | 10.64 | 9.49 | -12.62 | 30.89 | -18.19 | 97.96 | 13.54 | 4.08 | -70.26 | 0.05 | -34.14 | 22.87 | 9.74 |
| 2022 (9) | 0.20 | -80.0 | 25.11 | 3.63 | 2.36 | -66.9 | 7.06 | 21.83 | 2.77 | -59.2 | 1.84 | -69.69 | 1.22 | -74.04 | 1.21 | -67.12 | 0.47 | -12.96 | 10.86 | -20.32 | 37.76 | -16.74 | 86.27 | -17.75 | 13.73 | 0 | 0.08 | -36.65 | 20.84 | 15.78 |
| 2021 (8) | 1.00 | 185.71 | 24.23 | 26.07 | 7.13 | 3465.0 | 5.79 | -10.47 | 6.79 | 195.22 | 6.07 | 250.87 | 4.70 | 276.0 | 3.68 | 228.57 | 0.54 | 1.89 | 13.63 | 44.69 | 45.35 | 8.36 | 104.90 | 1053.85 | -4.90 | 0 | 0.12 | 16.26 | 18.00 | -2.17 |
| 2020 (7) | 0.35 | 0 | 19.22 | 9.58 | 0.20 | 0 | 6.47 | -13.47 | 2.30 | 0 | 1.73 | 0 | 1.25 | 0 | 1.12 | 0 | 0.53 | -14.52 | 9.42 | 0 | 41.85 | 26.93 | 9.09 | -53.91 | 90.91 | 13.24 | 0.11 | -38.81 | 18.40 | -2.13 |
| 2019 (6) | -2.39 | 0 | 17.54 | 2.69 | -2.54 | 0 | 7.48 | 16.35 | -12.80 | 0 | -12.29 | 0 | -9.97 | 0 | -7.34 | 0 | 0.62 | -6.06 | -4.69 | 0 | 32.97 | 11.01 | 19.72 | -47.4 | 80.28 | 28.44 | 0.17 | -76.07 | 18.80 | 20.13 |
| 2018 (5) | 0.30 | 0 | 17.08 | 32.51 | 0.81 | 0 | 6.43 | -18.13 | 2.13 | 0 | 1.69 | 0 | 1.44 | 0 | 1.27 | 0 | 0.66 | 11.86 | 8.95 | 1004.94 | 29.70 | -2.46 | 37.50 | 2.46 | 62.50 | -1.42 | 0.73 | 0 | 15.65 | -6.01 |
| 2017 (4) | -1.55 | 0 | 12.89 | -0.69 | -2.75 | 0 | 7.85 | 9.51 | -7.50 | 0 | -7.80 | 0 | -6.15 | 0 | -4.55 | 0 | 0.59 | -14.49 | 0.81 | -85.64 | 30.45 | -13.76 | 36.60 | 0 | 63.40 | -40.66 | 0.00 | 0 | 16.65 | 14.99 |
| 2016 (3) | -0.71 | 0 | 12.98 | 4.68 | 0.15 | 0 | 7.17 | 2.04 | -2.19 | 0 | -2.55 | 0 | -2.39 | 0 | -1.69 | 0 | 0.69 | 9.52 | 5.64 | 36.89 | 35.31 | 1.06 | -6.85 | 0 | 106.85 | 89.48 | 0.00 | 0 | 14.48 | 0.35 |
| 2015 (2) | -1.07 | 0 | 12.40 | -2.75 | -1.71 | 0 | 7.03 | -10.76 | -3.90 | 0 | -4.36 | 0 | -3.86 | 0 | -2.56 | 0 | 0.63 | 18.87 | 4.12 | -44.32 | 34.94 | -20.61 | 43.61 | -74.49 | 56.39 | 0 | 0.00 | 0 | 14.43 | -13.95 |
| 2014 (1) | -0.34 | 0 | 12.75 | 0 | -3.60 | 0 | 7.87 | 1.6 | -2.11 | 0 | -1.76 | 0 | -1.40 | 0 | -0.69 | 0 | 0.53 | 0.0 | 7.40 | 1175.86 | 44.01 | -25.68 | 170.97 | 472.37 | -70.97 | 0 | 0.00 | 0 | 16.77 | -2.78 |
